HP Inc. Reports Fiscal 2020 Third Quarter Results


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)

  Nine months ended
  July 31, 2020  July 31, 2019
  Amounts  Diluted
net earnings
per share
  Amounts  Diluted
net earnings
per share
GAAP net earnings$2,176   $1.51   $2,764   $1.80  
Non-GAAP adjustments:       
Restructuring and other charges431   0.30   141   0.09  
Acquisition-related charges14   0.01   12   0.01  
Amortization of intangible assets84   0.06   87     0.06    
Non-operating retirement-related credits (168 )     (0.12 )     (43 )     (0.03 )  
Debt extinguishment costs 40       0.03                
Tax adjustments (a) (178 )     (0.13 )     (451 )     (0.30 )  
Non-GAAP net earnings $ 2,399       $ 1.66       $ 2,510       $ 1.63    
               
GAAP earnings from operations $ 2,470           $ 2,933        
Non-GAAP adjustments:              
Restructuring and other charges 431           141        
Acquisition-related charges 14           12        
Amortization of intangible assets 84           87        
Non-GAAP earnings from operations $ 2,999           $ 3,173        
               
GAAP operating margin 6   %       7   %    
Non-GAAP adjustments 1   %       0   %    
Non-GAAP operating margin 7   %       7   %    

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

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