| 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) | |||||||||||||||
| Nine months ended | |||||||||||||||
| July 31, 2023 | July 31, 2022 | ||||||||||||||
| Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | ||||||||||||
| GAAP net earnings | $ | 2,289 | $ | 2.29 | $ | 3,155 | $ | 2.97 | |||||||
| Non-GAAP adjustments: | |||||||||||||||
| Restructuring and other charges | 416 | 0.42 | 148 | 0.15 | |||||||||||
| Acquisition and divestiture charges | 206 | 0.21 | 84 | 0.08 | |||||||||||
| Amortization of intangible assets | 262 | 0.26 | 154 | 0.14 | |||||||||||
| Russia exit charges | — | — | 23 | 0.02 | |||||||||||
| Debt extinguishment benefit | (107 | ) | (0.11 | ) | — | — | |||||||||
| Non-operating retirement-related credits | (35 | ) | (0.04 | ) | (103 | ) | (0.10 | ) | |||||||
| Tax adjustments (a) | (656 | ) | (0.65 | ) | (116 | ) | (0.12 | ) | |||||||
| Non-GAAP net earnings | $ | 2,375 | $ | 2.38 | $ | 3,345 | $ | 3.14 | |||||||
| GAAP earnings from operations | $ | 2,442 | $ | 3,818 | |||||||||||
| Non-GAAP adjustments: | |||||||||||||||
| Restructuring and other charges | 416 | 148 | |||||||||||||
| Acquisition and divestiture charges | 206 | 84 | |||||||||||||
| Amortization of intangible assets | 262 | 154 | |||||||||||||
| Russia exit charges | — | 23 | |||||||||||||
| Non-GAAP earnings from operations | $ | 3,326 | $ | 4,227 | |||||||||||
| GAAP operating margin | 6.1 | % | 7.9 | % | |||||||||||
| Non-GAAP adjustments | 2.2 | % | 0.9 | % | |||||||||||
| Non-GAAP operating margin | 8.3 | % | 8.8 | % | |||||||||||
(a) Includes tax impact on non-GAAP adjustments.
