HPE Reports Fiscal 2018 Full-Year and Fourth Quarter Results

(a) Represents the settlement of certain pre-separation Hewlett-Packard Company income tax liabilities indemnified through the Tax Matters Agreement with HP Inc.

(b) For the three months ended October 31, 2018, this amount primarily includes $1.3 billion expense as a result of the impact of U.S. tax reform.

For the three months ended October 31, 2017, this amount primarily includes the income tax benefit related to U.S. foreign tax credits generated in connection with the spin-off of the enterprise services business, Everett SpinCo Inc. ("Everett Transaction") and the software business, Seattle SpinCo, Inc, ("Seattle Transaction").


HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
  
  Twelve months ended October 31,
  2018  2017
Net revenue$30,852  $28,871 
Costs and expenses:   
Cost of sales21,560  20,177 
Research and development1,663  1,486 
Selling, general and administrative4,851  5,006 
Amortization of intangible assets294  321 
Impairment of goodwill88   
Restructuring charges19  417 
Transformation costs425  359 
Disaster Charges  93 
Acquisition and other related charges82  203 
Separation costs12  248 
Defined benefit plan settlement charges and remeasurement (benefit)  (64)
Total costs and expenses28,994  28,246 
Earnings from continuing operations1,858  625 
Interest and other, net(274) (327)
Tax indemnification adjustments(a)(1,354) (3)
Earnings (loss) from equity interests38  (23)
Earnings from continuing operations before taxes268  272 
Benefit for taxes(b)1,744  164 
Net earnings from continuing operations2,012  436 
Net loss from discontinued operations(104) (92)
Net earnings$1,908  $344 
Net earnings (loss) per share:   
Basic   
Continuing operations$1.32  $0.26 
Discontinued operations(0.07) (0.05)
Total basic net earnings per share$1.25  $0.21 
Diluted   
Continuing operations$1.30  $0.26 
Discontinued operations(0.07) (0.05)
Total diluted net earnings per share $ 1.23     $ 0.21  
Cash dividends declared per share $ 0.4875     $ 0.2600  
Weighted-average shares used to compute net earnings (loss) per share:      
Basic 1,529     1,646  
Diluted 1,553     1,674  

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