HP Inc. Reports Fiscal 2018 First Quarter Results

                                                            
HP INC. AND SUBSIDIARIES
FISCAL 2016 SEGMENT INFORMATION (Revised)
(Unaudited)
(In millions)
                                                            
  REVISED AMOUNTS  AMOUNTS AS PREVIOUSLY REPORTED  CHANGE
   Three months ended  Twelve
months
ended
  Three months ended   Twelve
months
ended
  Three months ended  Twelve
months
ended
  Jan 31,
2016
  Apr 30,
2016
  July 31,
2016
  Oct 31,
2016
  Oct 31,
2016
  Jan 31,
2016
  Apr 30,
2016
  July 31,
2016
  Oct 31,
2016
  Oct 31,
2016
  Jan 31,
2016
  Apr 30,
2016
  July 31,
2016
  Oct 31,
2016
  Oct 31,
2016
Net revenue:(a)                                                           
                                                                                                                       
Personal Systems $ 7,467     $ 6,985     $ 7,511     $ 7,983     $ 29,946     $ 7,467     $ 6,990     $ 7,512     $ 8,018     $ 29,987     $     $ (5 )   $ (1 )   $ (35 )   $ (41 )
Printing 4,596     4,621     4,381     4,525     18,123     4,642     4,637     4,423     4,558     18,260     (46 )   (16 )   (42 )   (33 )   (137 )
Corporate Investments 3     3         1     7     3     3         1     7                      
Total segments 12,066     11,609     11,892     12,509     48,076     12,112     11,630     11,935     12,577     48,254     (46 )   (21 )   (43 )   (68 )   (178 )
Other 180     (21 )       3     162     134     (42 )   (43 )   (65 )   (16 )   46     21     43     68     178  
Total net revenue $ 12,246     $ 11,588     $ 11,892     $ 12,512     $ 48,238     $ 12,246     $ 11,588     $ 11,892     $ 12,512     $ 48,238     $     $     $     $     $  
                                                           
Earnings before taxes: (a)                                                          
                                                           
Personal Systems $ 229     $ 242     $ 334     $ 345     $ 1,150     $ 229     $ 242     $ 333     $ 346     $ 1,150     $     $     $ 1     $ (1 )   $  
Printing 780     801     900     633     3,114     787     801     903     637     3,128     (7 )       (3 )   (4 )   (14 )
Corporate Investments (23 )   (8 )   (35 )   (32 )   (98 )   (23 )   (8 )   (35 )   (32 )   (98 )                    
Total segments 986     1,035     1,199     946     4,166     993     1,035     1,201     951     4,180     (7 )       (2 )   (5 )   (14 )
                                                           
Corporate and unallocated costs and other (9 )   (88 )   (43 )   (34 )   (174 )   (16 )   (88 )   (45 )   (39 )   (188 )   7         2     5     14  
Stock-based compensation expense (61 )   (40 )   (39 )   (42 )   (182 )   (61 )   (40 )   (39 )   (42 )   (182 )                    
Restructuring and other charges (20 )   (100 )   (36 )   (49 )   (205 )   (20 )   (100 )   (36 )   (49 )   (205 )                    
Acquisition and other related charges             (7 )   (7 )               (7 )   (7 )                    
Amortization of intangible assets (8 )   (6 )   (2 )       (16 )   (8 )   (6 )   (2 )       (16 )                    
Non-operating retirement-related credits 40     40     38     28     146     40     40     38     28     146                      
Defined benefit plan settlement credits (expense)             (179 )   (179 )               (179 )   (179 )                    
Interest and other, net (94 )   (5 )   (36 )   347     212     (94 )   (5 )   (36 )   347     212                      
 Total earnings before taxes $ 834     $ 836     $ 1,081     $ 1,010     $ 3,761     $ 834     $ 836     $ 1,081     $ 1,010     $ 3,761     $     $     $     $     $  
                                                                                                                       

(a) Effective at the beginning of its first quarter of fiscal year 2018, HP implemented an organizational change to align its segment and business unit financial reporting more closely with its current business structure. The organizational change resulted in the transfer of a portion of long life consumables from Commercial to Supplies within the Printing segment. Certain revenues related to service arrangements, which are being eliminated for the purposes of reporting HP’s consolidated net revenue, have now been reclassified from Other to segments. HP has reflected this change to its segment and business unit information in prior reporting periods on an as-if basis. The reporting change had no impact to previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share.

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