HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
Twelve months ended | |||||||
October 31, 2022 | October 31, 2021 | ||||||
Net revenue | $ | 62,983 | $ | 63,487 | |||
Costs and expenses: | |||||||
Cost of revenue | 50,648 | 50,070 | |||||
Research and development | 1,593 | 1,907 | |||||
Selling, general and administrative | 5,264 | 5,741 | |||||
Restructuring and other charges | 233 | 245 | |||||
Acquisition and divestiture charges | 318 | 68 | |||||
Amortization of intangible assets | 228 | 154 | |||||
Russia exit charges | 23 | — | |||||
Total costs and expenses | 58,307 | 58,185 | |||||
Earnings from operations | 4,676 | 5,302 | |||||
Interest and other, net (a) | (235 | ) | 2,209 | ||||
Earnings before taxes | 4,441 | 7,511 | |||||
Provision for taxes (a) | (1,238 | ) | (1,008 | ) | |||
Net earnings | $ | 3,203 | $ | 6,503 | |||
Net earnings per share: | |||||||
Basic | $ | 3.09 | $ | 5.38 | |||
Diluted | $ | 3.05 | $ | 5.33 | |||
Cash dividends declared per share | $ | 1.00 | $ | 0.78 | |||
Weighted-average shares used to compute net earnings per share: | |||||||
Basic | 1,038 | 1,208 | |||||
Diluted | 1,050 | 1,220 |
(a) Interest and other, net and Provision for taxes includes a gain and corresponding tax expense, respectively, from the one time Oracle litigation proceeds for the twelve months ended October 31, 2021.