HP Inc. Reports Fiscal 2024 Full Year and Fourth Quarter Results

(a) Includes tax impact on non-GAAP adjustments.
   


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)
 
  Twelve months ended
  October 31, 2024  October 31, 2023
  Amounts  Diluted
net earnings
per share
  Amounts  Diluted
net earnings
per share
GAAP net earnings$2,775  $2.81  $3,263  $3.26 
Non-GAAP adjustments:       
Restructuring and other charges 301   0.31   527   0.53 
Acquisition and divestiture charges 83   0.08   240   0.24 
Amortization of intangible assets 318   0.32   350       0.35  
Debt extinguishment costs (benefit)   3             (107 )     (0.11 )
Non-operating retirement-related credits   (9 )     (0.01 )     (46 )     (0.05 )
Tax adjustments (a)   (132 )     (0.13 )     (950 )     (0.94 )
Non-GAAP net earnings $ 3,339     $ 3.38     $ 3,277     $ 3.28  
               
GAAP earnings from operations $ 3,818         $ 3,456      
Non-GAAP adjustments:              
Restructuring and other charges   301           527      
Acquisition and divestiture charges   83           240      
Amortization of intangible assets   318           350      
Non-GAAP earnings from operations $ 4,520         $ 4,573      
               
GAAP operating margin   7.1 %         6.4 %    
Non-GAAP adjustments   1.3 %         2.1 %    
Non-GAAP operating margin   8.4 %         8.5 %    



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