HP Inc. Reports Fiscal 2020 Second 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)
 
  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 charges372  0.26  124  0.07 
Acquisition-related charges3    21  0.01 
Amortization of intangible assets55  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 %    

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