|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Earnings (Unaudited)
|
|||||||||||
|
|
|
||||||||||
|
|
For the three months ended |
||||||||||
|
|
January 31,
|
|
October 31,
|
|
January 31,
|
||||||
|
|
In millions, except per share amounts |
||||||||||
|
Net revenue |
$ |
6,961 |
|
|
$ |
7,354 |
|
|
$ |
6,833 |
|
|
Costs and expenses: |
|
|
|
|
|
||||||
|
Cost of sales |
|
4,617 |
|
|
|
4,935 |
|
|
|
4,545 |
|
|
Research and development |
|
504 |
|
|
|
502 |
|
|
|
468 |
|
|
Selling, general and administrative |
|
1,201 |
|
|
|
1,280 |
|
|
|
1,159 |
|
|
Amortization of intangible assets |
|
73 |
|
|
|
78 |
|
|
|
110 |
|
|
Transformation costs |
|
111 |
|
|
|
197 |
|
|
|
311 |
|
|
Disaster charges |
|
— |
|
|
|
10 |
|
|
|
— |
|
|
Acquisition, disposition and other related charges |
|
7 |
|
|
|
2 |
|
|
|
18 |
|
|
Total costs and expenses |
|
6,513 |
|
|
|
7,004 |
|
|
|
6,611 |
|
|
Earnings from operations |
|
448 |
|
|
|
350 |
|
|
|
222 |
|
|
Interest and other, net |
|
(5 |
) |
|
|
(106 |
) |
|
|
(44 |
) |
|
Tax indemnification and related adjustments |
|
(17 |
) |
|
|
5 |
|
|
|
(16 |
) |
|
Non-service net periodic benefit credit |
|
36 |
|
|
|
17 |
|
|
|
17 |
|
|
Litigation judgment |
|
— |
|
|
|
2,351 |
|
|
|
— |
|
|
Earnings from equity interests |
|
31 |
|
|
|
71 |
|
|
|
26 |
|
|
Earnings before benefit (provision) for taxes |
|
493 |
|
|
|
2,688 |
|
|
|
205 |
|
|
Benefit (provision) for taxes |
|
20 |
|
|
|
(135 |
) |
|
|
18 |
|
|
Net earnings |
$ |
513 |
|
|
$ |
2,553 |
|
|
$ |
223 |
|
|
Net earnings per share: |
|
|
|
|
|
||||||
|
Basic |
$ |
0.39 |
|
|
$ |
1.95 |
|
|
$ |
0.17 |
|
|
Diluted |
$ |
0.39 |
|
|
$ |
1.91 |
|
|
$ |
0.17 |
|
|
Cash dividends declared per share |
$ |
0.12 |
|
|
$ |
0.12 |
|
|
$ |
0.12 |
|
|
Weighted-average shares used to compute net earnings per share: |
|
|
|
|
|
||||||
|
Basic |
|
1,304 |
|
|
|
1,312 |
|
|
|
1,300 |
|
|
Diluted |
|
1,325 |
|
|
|
1,335 |
|
|
|
1,315 |
|
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited)
|
|||||||||||
|
|
|
|
|
|
|
||||||
|
|
For the three months ended |
||||||||||
|
|
January 31, 2022 |
|
October 31, 2021 |
|
January 31, 2021 |
||||||
|
|
In millions, except percentages |
||||||||||
|
GAAP net revenue |
$ |
6,961 |
|
|
$ |
7,354 |
|
|
$ |
6,833 |
|
|
GAAP cost of sales |
|
4,617 |
|
|
|
4,935 |
|
|
|
4,545 |
|
|
GAAP gross profit |
$ |
2,344 |
|
|
$ |
2,419 |
|
|
$ |
2,288 |
|
|
Non-GAAP adjustments |
|
|
|
|
|
||||||
|
Amortization of initial direct costs |
$ |
1 |
|
|
$ |
2 |
|
|
$ |
2 |
|
|
Stock-based compensation expense |
|
15 |
|
|
|
7 |
|
|
|
13 |
|
|
Non-GAAP gross profit |
$ |
2,360 |
|
|
$ |
2,428 |
|
|
$ |
2,303 |
|
|
|
|
|
|
|
|
||||||
|
GAAP gross profit margin |
|
33.7 |
% |
|
|
32.9 |
% |
|
|
33.5 |
% |
|
Non-GAAP adjustments |
|
0.2 |
% |
|
|
0.1 |
% |
|
|
0.2 |
% |
|
Non-GAAP gross profit margin |
|
33.9 |
% |
|
|
33.0 |
% |
|
|
33.7 |
% |
|
|
For the three months ended |
||||||||||
|
|
January 31, 2022 |
|
October 31, 2021 |
|
January 31, 2021 |
||||||
|
|
In millions, except percentages |
||||||||||
|
GAAP earnings from operations |
$ |
448 |
|
|
$ |
350 |
|
|
$ |
222 |
|
|
Non-GAAP adjustments |
|
|
|
|
|
||||||
|
Amortization of initial direct costs |
|
1 |
|
|
|
2 |
|
|
|
2 |
|
|
Amortization of intangible assets |
|
73 |
|
|
|
78 |
|
|
|
110 |
|
|
Transformation costs |
|
111 |
|
|
|
197 |
|
|
|
311 |
|
|
Disaster charges |
|
— |
|
|
|
10 |
|
|
|
— |
|
|
Stock-based compensation expense |
|
128 |
|
|
|
78 |
|
|
|
110 |
|
|
Acquisition, disposition and other related charges |
|
7 |
|
|
|
2 |
|
|
|
18 |
|
|
Non-GAAP earnings from operations |
$ |
768 |
|
|
$ |
717 |
|
|
$ |
773 |
|
|
|
|
|
|
|
|
||||||
|
GAAP operating profit margin |
|
6.4 |
% |
|
|
4.8 |
% |
|
|
3.2 |
% |
|
Non-GAAP adjustments |
|
4.6 |
% |
|
|
4.9 |
% |
|
|
8.1 |
% |
|
Non-GAAP operating profit margin |
|
11.0 |
% |
|
|
9.7 |
% |
|
|
11.3 |
% |
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Reconciliation of GAAP to Non-GAAP measures (Unaudited)
|
|||||||||||||||||||||||
|
|
For the three months ended |
||||||||||||||||||||||
|
|
January 31,
|
|
Diluted net
|
|
October 31,
|
|
Diluted net
|
|
January 31,
|
|
Diluted net
|
||||||||||||
|
|
In millions, except per share amounts |
||||||||||||||||||||||
|
GAAP net earnings |
$ |
513 |
|
|
$ |
0.39 |
|
|
$ |
2,553 |
|
|
$ |
1.91 |
|
|
$ |
223 |
|
|
$ |
0.17 |
|
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Amortization of initial direct costs |
|
1 |
|
|
|
— |
|
|
|
2 |
|
|
|
— |
|
|
|
2 |
|
|
|
— |
|
|
Amortization of intangible assets |
|
73 |
|
|
|
0.06 |
|
|
|
78 |
|
|
|
0.06 |
|
|
|
110 |
|
|
|
0.08 |
|
|
Transformation costs |
|
111 |
|
|
|
0.08 |
|
|
|
197 |
|
|
|
0.15 |
|
|
|
311 |
|
|
|
0.23 |
|
|
Disaster charges |
|
— |
|
|
|
— |
|
|
|
10 |
|
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
Stock-based compensation expense |
|
128 |
|
|
|
0.10 |
|
|
|
78 |
|
|
|
0.06 |
|
|
|
110 |
|
|
|
0.08 |
|
|
Acquisition, disposition and other related charges |
|
7 |
|
|
|
0.01 |
|
|
|
2 |
|
|
|
— |
|
|
|
18 |
|
|
|
0.01 |
|
|
Tax indemnification and related adjustments |
|
17 |
|
|
|
0.01 |
|
|
|
(5 |
) |
|
|
— |
|
|
|
16 |
|
|
|
0.02 |
|
|
Non-service net periodic benefit credit |
|
(36 |
) |
|
|
(0.03 |
) |
|
|
(17 |
) |
|
|
(0.01 |
) |
|
|
(17 |
) |
|
|
(0.01 |
) |
|
Litigation judgment |
|
— |
|
|
|
— |
|
|
|
(2,351 |
) |
|
|
(1.76 |
) |
|
|
— |
|
|
|
— |
|
|
Early debt redemption costs |
|
— |
|
|
|
— |
|
|
|
100 |
|
|
|
0.07 |
|
|
|
— |
|
|
|
— |
|
|
Earnings from equity interests (a) |
|
17 |
|
|
|
0.01 |
|
|
|
18 |
|
|
|
0.01 |
|
|
|
34 |
|
|
|
0.03 |
|
|
Adjustments for taxes |
|
(134 |
) |
|
|
(0.10 |
) |
|
|
23 |
|
|
|
0.02 |
|
|
|
(128 |
) |
|
|
(0.09 |
) |
|
Non-GAAP net earnings |
$ |
697 |
|
|
$ |
0.53 |
|
|
$ |
688 |
|
|
$ |
0.52 |
|
|
$ |
679 |
|
|
$ |
0.52 |
|
|
|
For the three months ended |
||||||||||
|
|
January 31, 2022 |
|
October 31, 2021 |
|
January 31, 2021 |
||||||
|
|
In millions |
||||||||||
|
Net cash (used in) provided by operating activities |
$ |
(76 |
) |
|
$ |
2,956 |
|
|
$ |
963 |
|
|
Litigation judgment, net of taxes paid |
|
— |
|
|
|
(2,172 |
) |
|
|
— |
|
|
Net cash (used in) provided by operating activities, excluding litigation judgment, net of taxes paid |
|
(76 |
) |
|
|
784 |
|
|
|
963 |
|
|
Investment in property, plant and equipment |
|
(624 |
) |
|
|
(770 |
) |
|
|
(513 |
) |
|
Proceeds from sale of property, plant and equipment |
|
123 |
|
|
|
80 |
|
|
|
113 |
|
|
Free cash flow |
$ |
(577 |
) |
|
$ |
94 |
|
|
$ |
563 |
|
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Balance Sheets
|
|||||||
|
|
|
||||||
|
|
As of |
||||||
|
|
January 31, 2022 |
|
October 31, 2021 |
||||
|
|
(Unaudited) |
|
(Audited) |
||||
|
|
In millions, except par value |
||||||
|
ASSETS |
|
|
|
||||
|
Current assets: |
|
|
|
||||
|
Cash and cash equivalents |
$ |
3,861 |
|
|
$ |
3,996 |
|
|
Accounts receivable, net of allowances |
|
3,432 |
|
|
|
3,979 |
|
|
Financing receivables, net of allowances |
|
3,815 |
|
|
|
3,932 |
|
|
Inventory |
|
5,321 |
|
|
|
4,511 |
|
|
Other current assets |
|
2,913 |
|
|
|
2,460 |
|
|
Total current assets |
|
19,342 |
|
|
|
18,878 |
|
|
Property, plant and equipment |
|
5,498 |
|
|
|
5,613 |
|
|
Long-term financing receivables and other assets |
|
11,528 |
|
|
|
11,670 |
|
|
Investments in equity interests |
|
2,250 |
|
|
|
2,210 |
|
|
Goodwill and intangible assets |
|
19,255 |
|
|
|
19,328 |
|
|
Total assets |
$ |
57,873 |
|
|
$ |
57,699 |
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||||
|
Current liabilities: |
|
|
|
||||
|
Notes payable and short-term borrowings |
$ |
3,795 |
|
|
$ |
3,552 |
|
|
Accounts payable |
|
6,549 |
|
|
|
7,004 |
|
|
Employee compensation and benefits |
|
1,160 |
|
|
|
1,778 |
|
|
Taxes on earnings |
|
166 |
|
|
|
169 |
|
|
Deferred revenue |
|
3,457 |
|
|
|
3,408 |
|
|
Accrued restructuring |
|
225 |
|
|
|
290 |
|
|
Other accrued liabilities |
|
5,121 |
|
|
|
4,486 |
|
|
Total current liabilities |
|
20,473 |
|
|
|
20,687 |
|
|
Long-term debt |
|
10,277 |
|
|
|
9,896 |
|
|
Other non-current liabilities |
|
6,758 |
|
|
|
7,099 |
|
|
Stockholders’ equity |
|
|
|
||||
|
HPE stockholders’ equity: |
|
|
|
||||
|
Common stock, $0.01 par value (9,600 shares authorized; 1,300 and 1,295 shares issued and outstanding at January 31, 2022 and October 31, 2021, respectively) |
|
13 |
|
|
|
13 |
|
|
Additional paid-in capital |
|
28,422 |
|
|
|
28,470 |
|
|
Accumulated deficit |
|
(5,239 |
) |
|
|
(5,597 |
) |
|
Accumulated other comprehensive loss |
|
(2,878 |
) |
|
|
(2,915 |
) |
|
Total HPE stockholders’ equity |
|
20,318 |
|
|
|
19,971 |
|
|
Non-controlling interests |
|
47 |
|
|
|
46 |
|
|
Total stockholders’ equity |
|
20,365 |
|
|
|
20,017 |
|
|
Total liabilities and stockholders’ equity |
$ |
57,873 |
|
|
$ |
57,699 |
|
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited)
|
|||||||
|
|
For the three months ended January 31, |
||||||
|
|
|
2022 |
|
|
|
2021 |
|
|
|
In millions |
||||||
|
Cash flows from operating activities: |
|
|
|
||||
|
Net earnings |
$ |
513 |
|
|
$ |
223 |
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
|
||||
|
Depreciation and amortization |
|
621 |
|
|
|
674 |
|
|
Stock-based compensation expense |
|
128 |
|
|
|
113 |
|
|
Provision for doubtful accounts and inventory |
|
46 |
|
|
|
52 |
|
|
Restructuring charges |
|
37 |
|
|
|
232 |
|
|
Deferred taxes on earnings |
|
37 |
|
|
|
(71 |
) |
|
Earnings from equity interests |
|
(31 |
) |
|
|
(26 |
) |
|
Other, net |
|
(27 |
) |
|
|
65 |
|
|
Changes in operating assets and liabilities, net of acquisitions: |
|
|
|
||||
|
Accounts receivable |
|
543 |
|
|
|
446 |
|
|
Financing receivables |
|
181 |
|
|
|
(120 |
) |
|
Inventory |
|
(834 |
) |
|
|
(148 |
) |
|
Accounts payable |
|
(438 |
) |
|
|
(161 |
) |
|
Taxes on earnings |
|
(111 |
) |
|
|
(34 |
) |
|
Restructuring |
|
(114 |
) |
|
|
(220 |
) |
|
Other assets and liabilities |
|
(627 |
) |
|
|
(62 |
) |
|
Net cash (used in) provided by operating activities |
|
(76 |
) |
|
|
963 |
|
|
Cash flows from investing activities: |
|
|
|
||||
|
Investment in property, plant and equipment |
|
(624 |
) |
|
|
(513 |
) |
|
Proceeds from sale of property, plant and equipment |
|
123 |
|
|
|
113 |
|
|
Purchases of investments |
|
(21 |
) |
|
|
(7 |
) |
|
Proceeds from maturities and sales of investments |
|
44 |
|
|
|
1 |
|
|
Financial collateral posted |
|
(10 |
) |
|
|
(266 |
) |
|
Financial collateral received |
|
153 |
|
|
|
20 |
|
|
Net cash used in investing activities |
|
(335 |
) |
|
|
(652 |
) |
|
Cash flows from financing activities: |
|
|
|
||||
|
Short-term borrowings with original maturities less than 90 days, net |
|
53 |
|
|
|
26 |
|
|
Proceeds from debt, net of issuance costs |
|
1,276 |
|
|
|
323 |
|
|
Payment of debt |
|
(633 |
) |
|
|
(611 |
) |
|
Net payments related to stock-based award activities |
|
(57 |
) |
|
|
(34 |
) |
|
Repurchase of common stock |
|
(129 |
) |
|
|
— |
|
|
Cash dividends paid to non-controlling interests |
|
— |
|
|
|
(8 |
) |
|
Cash dividends paid to shareholders |
|
(155 |
) |
|
|
(155 |
) |
|
Net cash provided by (used in) financing activities |
|
355 |
|
|
|
(459 |
) |
|
Decrease in cash, cash equivalents and restricted cash |
|
(56 |
) |
|
|
(148 |
) |
|
Cash, cash equivalents and restricted cash at beginning of period |
|
4,332 |
|
|
|
4,621 |
|
|
Cash, cash equivalents and restricted cash at end of period |
$ |
4,276 |
|
|
$ |
4,473 |
|
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited)
|
||||||||||||
|
|
|
|
||||||||||
|
|
|
For the three months ended |
||||||||||
|
|
|
January 31,
|
|
October 31,
|
|
January 31,
|
||||||
|
|
|
In millions |
||||||||||
|
Net revenue: |
|
|
|
|
|
|
||||||
|
Compute |
|
$ |
3,016 |
|
|
$ |
3,224 |
|
|
$ |
2,984 |
|
|
High Performance Computing & Artificial Intelligence |
|
|
790 |
|
|
|
999 |
|
|
|
761 |
|
|
Storage |
|
|
1,156 |
|
|
|
1,256 |
|
|
|
1,192 |
|
|
Intelligent Edge |
|
|
901 |
|
|
|
818 |
|
|
|
810 |
|
|
Financial Services |
|
|
842 |
|
|
|
858 |
|
|
|
860 |
|
|
Corporate Investments and Other |
|
|
325 |
|
|
|
353 |
|
|
|
321 |
|
|
Total segment net revenue |
|
|
7,030 |
|
|
|
7,508 |
|
|
|
6,928 |
|
|
Elimination of intersegment net revenue |
|
|
(69 |
) |
|
|
(154 |
) |
|
|
(95 |
) |
|
Total consolidated net revenue |
|
$ |
6,961 |
|
|
$ |
7,354 |
|
|
$ |
6,833 |
|
|
|
|
|
|
|
|
|
||||||
|
Earnings before taxes: |
|
|
|
|
|
|
||||||
|
Compute |
|
$ |
416 |
|
|
$ |
302 |
|
|
$ |
341 |
|
|
High Performance Computing & Artificial Intelligence |
|
|
(7 |
) |
|
|
142 |
|
|
|
43 |
|
|
Storage |
|
|
168 |
|
|
|
173 |
|
|
|
234 |
|
|
Intelligent Edge |
|
|
157 |
|
|
|
89 |
|
|
|
154 |
|
|
Financial Services |
|
|
104 |
|
|
|
121 |
|
|
|
84 |
|
|
Corporate Investments and Other |
|
|
(11 |
) |
|
|
(11 |
) |
|
|
(31 |
) |
|
Total segment earnings from operations |
|
|
827 |
|
|
|
816 |
|
|
|
825 |
|
|
|
|
|
|
|
|
|
||||||
|
Unallocated corporate costs and eliminations |
|
|
(59 |
) |
|
|
(99 |
) |
|
|
(52 |
) |
|
Stock-based compensation expense |
|
|
(128 |
) |
|
|
(78 |
) |
|
|
(110 |
) |
|
Amortization of initial direct costs |
|
|
(1 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
|
Amortization of intangible assets |
|
|
(73 |
) |
|
|
(78 |
) |
|
|
(110 |
) |
|
Transformation costs |
|
|
(111 |
) |
|
|
(197 |
) |
|
|
(311 |
) |
|
Disaster charges |
|
|
— |
|
|
|
(10 |
) |
|
|
— |
|
|
Acquisition, disposition and other related charges |
|
|
(7 |
) |
|
|
(2 |
) |
|
|
(18 |
) |
|
Interest and other, net |
|
|
(5 |
) |
|
|
(6 |
) |
|
|
(44 |
) |
|
Tax indemnification and related adjustments |
|
|
(17 |
) |
|
|
5 |
|
|
|
(16 |
) |
|
Non-service net periodic benefit credit |
|
|
36 |
|
|
|
17 |
|
|
|
17 |
|
|
Litigation judgment |
|
|
— |
|
|
|
2,351 |
|
|
|
— |
|
|
Early debt redemption costs |
|
|
— |
|
|
|
(100 |
) |
|
|
— |
|
|
Earnings from equity interests |
|
|
31 |
|
|
|
71 |
|
|
|
26 |
|
|
Total consolidated earnings before taxes |
|
$ |
493 |
|
|
$ |
2,688 |
|
|
$ |
205 |
|
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Information (Unaudited) |
|||||||||||||||||
|
|
|
|
|
||||||||||||||
|
|
For the three months ended |
|
Change (%) |
||||||||||||||
|
|
January 31,
|
|
October 31,
|
|
January 31,
|
|
Q/Q |
|
Y/Y |
||||||||
|
|
In millions, except percentages |
||||||||||||||||
|
Net revenue: |
|
|
|
|
|
|
|
|
|
||||||||
|
Compute |
$ |
3,016 |
|
|
$ |
3,224 |
|
|
$ |
2,984 |
|
|
(6 |
%) |
|
1 |
% |
|
High Performance Computing & Artificial Intelligence |
|
790 |
|
|
|
999 |
|
|
|
761 |
|
|
(21 |
%) |
|
4 |
% |
|
Storage |
|
1,156 |
|
|
|
1,256 |
|
|
|
1,192 |
|
|
(8 |
%) |
|
(3 |
%) |
|
Intelligent Edge |
|
901 |
|
|
|
818 |
|
|
|
810 |
|
|
10 |
% |
|
11 |
% |
|
Financial Services |
|
842 |
|
|
|
858 |
|
|
|
860 |
|
|
(2 |
%) |
|
(2 |
%) |
|
Corporate Investments and Other |
|
325 |
|
|
|
353 |
|
|
|
321 |
|
|
(8 |
%) |
|
1 |
% |
|
Total segment net revenue |
|
7,030 |
|
|
|
7,508 |
|
|
|
6,928 |
|
|
(6 |
%) |
|
1 |
% |
|
Elimination of intersegment net revenue |
|
(69 |
) |
|
|
(154 |
) |
|
|
(95 |
) |
|
(55 |
%) |
|
(27 |
%) |
|
Total consolidated net revenue |
$ |
6,961 |
|
|
$ |
7,354 |
|
|
$ |
6,833 |
|
|
(5 |
%) |
|
2 |
% |
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Segment Operating Margin Summary Data (Unaudited) |
||||||
|
|
|
|
|
|
||
|
|
|
For the three months
|
|
Change in Operating Profit
|
||
|
|
|
January 31, 2022 |
|
Q/Q |
|
Y/Y |
|
Segment operating profit margin: |
|
|
|
|
|
|
|
Compute |
|
13.8 % |
|
4.4 |
|
2.4 |
|
High Performance Computing & Artificial Intelligence |
|
(0.9) % |
|
(15.1) |
|
(6.6) |
|
Storage |
|
14.5 % |
|
0.7 |
|
(5.1) |
|
Intelligent Edge |
|
17.4 % |
|
6.5 |
|
(1.6) |
|
Financial Services |
|
12.4 % |
|
(1.7) |
|
2.6 |
|
Corporate Investments and Other |
|
(3.4%) |
|
(0.3) |
|
6.3 |
|
Total segment operating profit margin |
|
11.8 % |
|
0.9 |
|
(0.1) |
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Calculation of Diluted Net Earnings Per Share (Unaudited)
|
||||||||
|
|
|
|||||||
|
|
For the three months ended |
|||||||
|
|
January 31,
|
|
October 31,
|
|
January 31,
|
|||
|
|
In millions, except per share amounts |
|||||||
|
Numerator: |
|
|
|
|
|
|||
|
GAAP net earnings |
$ |
513 |
|
$ |
2,553 |
|
$ |
223 |
|
Non-GAAP net earnings |
$ |
697 |
|
$ |
688 |
|
$ |
679 |
|
|
|
|
|
|
|
|||
|
Denominator: |
|
|
|
|
|
|||
|
Weighted-average shares used to compute basic net earnings per share |
|
1,304 |
|
|
1,312 |
|
|
1,300 |
|
Dilutive effect of employee stock plans |
|
21 |
|
|
23 |
|
|
15 |
|
Weighted-average shares used to compute diluted net earnings per share |
|
1,325 |
|
|
1,335 |
|
|
1,315 |
|
|
|
|
|
|
|
|||
|
GAAP net earnings per share |
|
|
|
|
|
|||
|
Basic |
$ |
0.39 |
|
$ |
1.95 |
|
$ |
0.17 |
|
Diluted |
$ |
0.39 |
|
$ |
1.91 |
|
$ |
0.17 |
|
|
|
|
|
|
|
|||
|
Non-GAAP net earnings per share |
|
|
|
|
|
|||
|
Basic |
$ |
0.53 |
|
$ |
0.52 |
|
$ |
0.52 |
|
Diluted |
$ |
0.53 |
|
$ |
0.52 |
|
$ |
0.52 |
(a) Represents the amortization of basis difference adjustments related to the H3C divestiture.
