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) | |||||||||||||||
Six months ended | |||||||||||||||
April 30, 2020 | April 30, 2019 | ||||||||||||||
Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | ||||||||||||
GAAP net earnings | $ | 1,442 | $ | 0.99 | $ | 1,585 | $ | 1.02 | |||||||
Non-GAAP adjustments: | |||||||||||||||
Restructuring and other charges | 372 | 0.26 | 124 | 0.07 | |||||||||||
Acquisition-related charges | 3 | — | 21 | 0.01 | |||||||||||
Amortization of intangible assets | 55 | 0.04 | 58 | 0.04 | |||||||||||
Non-operating retirement-related credits | (113 | ) | (0.08 | ) | (22 | ) | (0.01 | ) | |||||||
Tax adjustments(a) | (62 | ) | (0.04 | ) | (136 | ) | (0.08 | ) | |||||||
Non-GAAP net earnings | $ | 1,697 | $ | 1.17 | $ | 1,630 | $ | 1.05 | |||||||
GAAP earnings from operations | $ | 1,691 | $ | 1,854 | |||||||||||
Non-GAAP adjustments: | |||||||||||||||
Restructuring and other charges | 372 | 124 | |||||||||||||
Acquisition-related charges | 3 | 21 | |||||||||||||
Amortization of intangible assets | 55 | 58 | |||||||||||||
Non-GAAP earnings from operations | $ | 2,121 | $ | 2,057 | |||||||||||
GAAP operating margin | 6 | % | 6 | % | |||||||||||
Non-GAAP adjustments | 2 | % | 1 | % | |||||||||||
Non-GAAP operating margin | 8 | % | 7 | % |