| HP INC. AND SUBSIDIARIES
ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS, OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts) | |||||||||||||||||||||||
| Three months ended | |||||||||||||||||||||||
| April 30, 2022 | January 31, 2022 | April 30, 2021 | |||||||||||||||||||||
| Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | ||||||||||||||||||
| GAAP net earnings | $ | 1,000 | $ | 0.94 | $ | 1,086 | $ | 0.99 | $ | 1,228 | $ | 0.98 | |||||||||||
| Non-GAAP adjustments: | |||||||||||||||||||||||
| Restructuring and other charges | 82 | 0.07 | 68 | 0.06 | 39 | 0.02 | |||||||||||||||||
| Acquisition-related charges | 32 | 0.03 | 20 | 0.02 | 10 | 0.01 | |||||||||||||||||
| Amortization of intangible assets | 52 | 0.05 | 52 | 0.05 | 32 | 0.03 | |||||||||||||||||
| Non-operating retirement-related credits | (35 | ) | (0.03 | ) | (34 | ) | (0.03 | ) | (38 | ) | (0.03 | ) | |||||||||||
| Tax adjustments (a) | 21 | 0.02 | 11 | 0.01 | (113 | ) | (0.08 | ) | |||||||||||||||
| Non-GAAP net earnings | $ | 1,152 | $ | 1.08 | $ | 1,203 | $ | 1.10 | $ | 1,158 | $ | 0.93 | |||||||||||
| GAAP earnings from operations | $ | 1,278 | $ | 1,359 | $ | 1,362 | |||||||||||||||||
| Non-GAAP adjustments: | |||||||||||||||||||||||
| Restructuring and other charges | 82 | 68 | 39 | ||||||||||||||||||||
| Acquisition-related charges | 32 | 20 | 10 | ||||||||||||||||||||
| Amortization of intangible assets | 52 | 52 | 32 | ||||||||||||||||||||
| Non-GAAP earnings from operations | $ | 1,444 | $ | 1,499 | $ | 1,443 | |||||||||||||||||
| GAAP operating margin | 7.8 | % | 8.0 | % | 8.6 | % | |||||||||||||||||
| Non-GAAP adjustments | 1.0 | % | 0.8 | % | 0.5 | % | |||||||||||||||||
| Non-GAAP operating margin | 8.8 | % | 8.8 | % | 9.1 | % | |||||||||||||||||
(a) Includes tax impact on non-GAAP adjustments.
