| 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 | |||||||||||||||||||||||
| July 31, 2024 | April 30, 2024 | July 31, 2023 | |||||||||||||||||||||
| Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | ||||||||||||||||||
| GAAP net earnings | $ | 640 | $ | 0.65 | $ | 607 | $ | 0.61 | $ | 766 | $ | 0.76 | |||||||||||
| Non-GAAP adjustments: | |||||||||||||||||||||||
| Restructuring and other charges | 46 | 0.05 | 71 | 0.07 | 75 | 0.07 | |||||||||||||||||
| Acquisition and divestiture charges | 22 | 0.02 | 22 | 0.02 | 48 | 0.05 | |||||||||||||||||
| Amortization of intangible assets | 81 | 0.08 | 80 | 0.08 | 91 | 0.09 | |||||||||||||||||
| Debt extinguishment benefit | — | — | — | — | (115 | ) | (0.11 | ) | |||||||||||||||
| Non-operating retirement-related credits | (2 | ) | — | (3 | ) | — | (12 | ) | (0.01 | ) | |||||||||||||
| Tax adjustments (a) | 32 | 0.03 | 35 | 0.04 | 6 | 0.01 | |||||||||||||||||
| Non-GAAP net earnings | $ | 819 | $ | 0.83 | $ | 812 | $ | 0.82 | $ | 859 | $ | 0.86 | |||||||||||
| GAAP earnings from operations | $ | 940 | $ | 952 | $ | 952 | |||||||||||||||||
| Non-GAAP adjustments: | |||||||||||||||||||||||
| Restructuring and other charges | 46 | 71 | 75 | ||||||||||||||||||||
| Acquisition and divestiture charges | 22 | 22 | 48 | ||||||||||||||||||||
| Amortization of intangible assets | 81 | 80 | 91 | ||||||||||||||||||||
| Non-GAAP earnings from operations | $ | 1,089 | $ | 1,125 | $ | 1,166 | |||||||||||||||||
| GAAP operating margin | 7.0% | 7.4% | 7.2% | ||||||||||||||||||||
| Non-GAAP adjustments | 1.1% | 1.4% | 1.6% | ||||||||||||||||||||
| Non-GAAP operating margin | 8.1% | 8.8% | 8.8% | ||||||||||||||||||||
(a) Includes tax impact on non-GAAP adjustments.
