HP Inc. Reports Third Quarter Fiscal 2016 Results

                                                                            
                          HP INC. AND SUBSIDIARIES                          
               CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS                
                                (Unaudited)                                 
                  (In millions, except per share amounts)                   
                                                                            
                                                Nine months ended July 31,  
                                               ---------------------------- 
                                                    2016           2015     
                                               -------------  ------------- 
                                                                            
Net revenue                                    $      35,726  $      39,197 
                                                                            
Costs and expenses:                                                         
  Cost of revenue                                     29,019         31,624 
  Research and development                               891            909 
  Selling, general and administrative                  2,758          3,508 
  Restructuring and other charges                        156             22 
  Amortization of intangible assets                       16             76 
  Defined benefit plan settlement credits                  -            (64)
                                               -------------  ------------- 
    Total costs and expenses                          32,840         36,075 
                                               -------------  ------------- 
                                                                            
Earnings from continuing operations                    2,886          3,122 
                                                                            
Interest and other, net                                 (135)          (289)
                                                          -------------    -------------  
                                                                                                                                                        
Earnings  from  continuing  operations  before                                                                    
  taxes                                                                                                  2,751                    2,833  
                                                                                                                                                        
Provision  for  taxes                                                                          (598)                    (630)
                                                                                              -------------    -------------  
                                                                                                                                                        
Net  earnings  from  continuing  operations                                2,153                    2,203  
Net  (loss)  earnings  from  discontinued                                                                              
  operations                                                                                          (149)                  1,028  
                                                                                              -------------    -------------  
                                                                                                                                                        
Net  earnings                                                                      $              2,004    $              3,231  
                                                                                              =============    =============  
                                                                                                                                                        
Net  earnings  (loss)  per  share:                                                                                            
Basic                                                                                                                                              
    Continuing  operations                                                $                1.24    $                1.21  
    Discontinued  operations                                                            (0.08)                    0.57  
                                                                                              -------------    -------------  
        Total  basic  net  earnings  per  share                  $                1.16    $                1.78  
                                                                                              =============    =============  
                                                                                                                                                        
Diluted                                                                                                                                          
    Continuing  operations                                                $                1.23    $                1.20  
    Discontinued  operations                                                            (0.08)                    0.55  
                                                                                              -------------    -------------  
        Total  diluted  net  earnings  per  share              $                1.15    $                1.75  
                                                                                              =============    =============  
                                                                                                                                                        
Cash  dividends  declared  per  share                            $                0.50    $                0.67  
                                                                                                                                                        
Weighted-average  shares  used  to  compute  net                                                                  
  earnings  per  share:                                                                                                                
    Basic                                                                                                1,735                    1,817  
    Diluted                                                                                            1,747                    1,842  
                                                                                                                                                        
                                                                                                                                                        
                ADJUSTMENTS  TO  GAAP  NET  EARNINGS,  EARNINGS  FROM  OPERATIONS,                  
                        OPERATING  MARGIN  AND  DILUTED  NET  EARNINGS  PER  SHARE                          
                                                                (Unaudited)                                                                  
                                    (In  millions,  except  per  share  amounts)                                      
                                                                                                                                                        
                                          Three                            Three                            Three                        
                                          months      Diluted      months      Diluted      months      Diluted  
                                          ended            net          ended            net          ended            net      
                                            July      earnings      April      earnings        July      earnings  
                                            31,              per            30,              per            31,              per      
                                            2016          share          2016          share          2015          share    
                                        -------    --------    -------    --------    -------    --------  
                                                                                                                                                        
GAAP  net  earnings                                                                                                                      
  from  continuing                                                                                                                        
  operations                  $      843    $      0.49    $      660    $      0.38    $      700    $      0.39  
                                                                                                                                                        
Non-GAAP                                                                                                                                        
  adjustments:                                                                                                                              
    Restructuring  and                                                                                                                  
      other  charges                  36            0.02            100            0.06                1                  -  
    Aquisition-                                                                                                                              
      related  charges                -                  -                -                  -                1                  -  
    Amortization  of                                                                                                                      
      intangible                                                                                                                              
      assets                                  2                  -                6                  -              24            0.01  
    Non-operating                                                                                                                          
      retirement-                                                                                                                            
      related  credits            (38)        (0.02)          (40)        (0.02)          (58)        (0.03)
    Defined  benefit                                                                                                                      
      plan  settlement                                                                                                                    
      credits                                -                  -                -                  -            (64)        (0.04)
    Adjustments  for                                                                                                                      
      taxes                                  12            0.01            (16)        (0.01)            42            0.02  
    Tax                                                                                                                                              
      indemnification                                                                                                                    
      credits                            (29)        (0.02)            (8)                -                -                  -  
                                        -------    --------    -------    --------    -------    --------  
Non-GAAP  net                                                                                                                                
  earnings                      $      826    $      0.48    $      702    $      0.41    $      646    $      0.35  
                                        =======    ========    =======    ========    =======    ========  
                                                                                                                                                        
GAAP  earnings  from                                                                                                                    
  continuing                                                                                                                                  
  operations                  $  1,117                        $      841                        $  1,007                      
                                                                                                                                                        
Non-GAAP                                                                                                                                        
  adjustments:                                                                                                                              
    Restructuring  and                                                                                                                  
      other  charges                  36                                100                                    1                      
    Acquisition-                                                                                                                            
      related  charges                -                                    -                                    1                      
    Amortization  of                                                                                                                      
      intangible                                                                                                                              
      assets                                  2                                    6                                  24                      
    Non-operating                                                                                                                          
      retirement-                                                                                                                            
      related  credits            (38)                              (40)                              (58)                    
    Defined  benefit                                                                                                                      
      plan  settlement                                                                                                                    
      credits                                -                                    -                                (64)                    
                                        -------                        -------                        -------                      
Non-GAAP  earnings      $  1,117                        $      907                        $      911                      
                                        =======                        =======                        =======                      
                                                                                                                                                        
GAAP  operating                                                                                                                            
  margin  from                                                                                                                                
  continuing                                                                                                                                  
  operations                              9%                                  7%                                  8%                    
Non-GAAP                                                                                                                                        
  adjustments                            0%                                  1%                                (1%)                  
                                        -------                        -------                        -------                      
Non-GAAP  operating                                                                                                                    
  margin                                      9%                                  8%                                  7%                    
                                        =======                        =======                        =======                      
                                                                                                                                                        
                                                                                                                                                        
                                                    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        Diluted        Nine  months        Diluted      
                                                        ended                  net                  ended                  net          
                                                      July  31,          earnings          July  31,        earnings      
                                                          2016            per  share              2015            per  share    
                                                  -----------    -----------    -----------    -----------  
                                                                                                                                                        
GAAP  net  earnings  from                                                                                                            
  continuing  operations      $          2,153    $            1.23    $          2,203    $            1.20  
                                                                                                                                                        
Non-GAAP  adjustments:                                                                                                              
    Restructuring  and                                                                                                                  
      other  charges                                  156                  0.09                      22                  0.01  
    Aquisition-related                                                                                                                
      charges                                                  -                        -                        1                        -  
    Amortization  of                                                                                                                      
      intangible  assets                            16                  0.01                      76                  0.04  
    Non-operating                                                                                                                          
      retirement-related                                                                                                              
      credits                                            (118)              (0.07)                (174)              (0.10)
    Defined  benefit  plan                                                                                                            
      settlement  credits                            -                        -                    (64)              (0.03)
    Adjustments  for  taxes                        3                        -                      67                  0.04  
    Tax  indemnification                                                                                                              
      credits                                              (37)              (0.02)                      -                        -  
                                                  -----------    -----------    -----------    -----------  
Non-GAAP  net  earnings        $          2,173    $            1.24    $          2,131    $            1.16  
                                                  ===========    ===========    ===========    ===========  
                                                                                                                                                        
GAAP  earnings  from                                                                                                                    
  continuing  operations      $          2,886                              $          3,122                            
                                                                                                                                                        
Non-GAAP  adjustments:                                                                                                              
    Restructuring  and                                                                                                                  
      other  charges                                  156                                                22                            
    Acquisition-related                                                                                                              
      charges                                                  -                                                  1                            
    Amortization  of                                                                                                                      
      intangible  assets                            16                                                76                            
    Non-operating                                                                                                                          
      retirement-related                                                                                                              
      credits                                            (118)                                          (174)                          
    Defined  benefit  plan                                                                                                            
      settlement  credits                            -                                              (64)                          
                                                  -----------                              -----------                            
Non-GAAP  earnings                $          2,940                              $          2,983                            
                                                  ===========                              ===========                            
                                                                                                                                                        
GAAP  operating  margin                                                                                                              
  from  continuing                                                                                                                        
  operations                                                8%                                                8%                          
Non-GAAP  adjustments                              0%                                                0%                          
                                                  -----------                              -----------                            
Non-GAAP  operating                                                                                                                    
  margin                                                        8%                                                8%                          
                                                  ===========                              ===========                            
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                        CONSOLIDATED  CONDENSED  BALANCE  SHEETS                                      
                                                                  (Unaudited)                                                                
                                                                (In  millions)                                                              
                                                                                                                                                        
                                                                                                                        As  of                      
                                                                                                ----------------------------
                                                                                                      July  31,          October  31,  
                                                                                                          2016                      2015        
                                                                                                -------------    -------------
                                                                                                                                                        
ASSETS                                                                                                                                            
                                                                                                                                                        
Current  assets:                                                                                                                          
    Cash  and  cash  equivalents                                          $              5,636    $              7,584
    Accounts  receivable                                                                      4,008                    4,825
    Inventory                                                                                          3,961                    4,288
    Other  current  assets                                                                    3,797                    4,498
    Current  assets  of  discontinued  operations                                  -                  30,592
                                                                                                -------------    -------------
                                                                                                                                                        
        Total  current  assets                                                              17,402                  51,787
                                                                                                -------------    -------------
                                                                                                                                                        
Property,  plant  and  equipment                                                      1,607                    1,492
Goodwill                                                                                                5,618                    5,680
Other  non-current  assets                                                                2,597                    1,592
Non-current  assets  of  discontinued  operations                              -                  46,331
                                                                                                -------------    -------------
                                                                                                                                                        
Total  assets                                                                        $            27,224    $          106,882
                                                                                                =============    =============
                                                                                                                                                        
                                                                                                                                                        
LIABILITIES  AND  STOCKHOLDERS'  EQUITY                                                                                
                                                                                                                                                        
Current  liabilities:                                                                                                                
    Notes  payable  and  short-term  borrowings              $                    75    $              2,194
    Accounts  payable                                                                          10,402                  10,194
    Employee  compensation  and  benefits                                            712                        747
    Taxes  on  earnings                                                                              162                        243
    Deferred  revenue                                                                                877                    1,051
    Other  accrued  liabilities                                                          5,886                    6,241
    Current  liabilities  of  discontinued                                                                              
      operations                                                                                              -                  21,521
                                                                                                -------------    -------------
                                                                                                                                                        
        Total  current  liabilities                                                    18,114                  42,191
                                                                                                -------------    -------------
                                                                                                                                                        
Long-term  debt                                                                                    6,760                    6,677
Other  non-current  liabilities                                                      6,276                    7,414
Non-current  liabilities  of  discontinued                                                                          
  operations                                                                                                  -                  22,449
                                                                                                                                                        
Stockholders'  equity:                                                                                                              
    HP  stockholders'  (deficit)  equity                                        (3,926)                27,768
    Non-controlling  interests  of  discontinued                                                                  
      operations                                                                                              -                        383
                                                                                                -------------    -------------
        Total  stockholders'  (deficit)  equity                              (3,926)                28,151
                                                                                                -------------    -------------
                                                                                                                                                        
Total  liabilities  and  stockholders'  equity            $            27,224    $          106,882
                                                                                                =============    =============
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                            CONSOLIDATED  CONDENSED  STATEMENTS  OF  CASH  FLOWS                              
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                Three  months  ended  July  31,  
                                                                                              ----------------------------  
                                                                                                        2016                  2015(a)        
                                                                                              -------------    -------------  
                                                                                                                                                        
Cash  flows  from  operating  activities:                                                                              
    Net  earnings                                                                  $                  783    $                  854  
                                                                                                                                                        
    Adjustments  to  reconcile  net  earnings  to  net                                                            
      cash  provided  by  operating  activities:                                                                      
        Depreciation  and  amortization                                                  85                    1,023  
        Stock-based  compensation  expense                                            39                        160  
        Provision  for  doubtful  accounts  and                                                                          
          inventory                                                                                        68                        101  
        Restructuring  and  other  charges                                              31                          25  
        Deferred  taxes  on  earnings                                                      378                        898  
        Excess  tax  benefit  from  stock-based                                                                          
          compensation                                                                                  (2)                        (6)
        Other,  net                                                                                    (313)                      378  
                                                                                                                                                        
    Changes  in  operating  assets  and  liabilities,                                                            
      net  of  acquisitions:                                                                                                          
        Accounts  receivable                                                                  (166)                    (295)
        Financing  receivables                                                                    -                        (53)
        Inventory                                                                                      (471)                    (520)
        Accounts  payable                                                                      1,301                        534  
        Taxes  on  earnings                                                                      (372)                (1,160)
        Restructuring  and  other                                                            (46)                    (303)
        Other  assets  and  liabilities                                                (250)                        37  
                                                                                              -------------    -------------  
            Net  cash  provided  by  operating                                                                                
              activities                                                                            1,065                    1,673  
                                                                                              -------------    -------------  
                                                                                                                                                        
Cash  flows  from  investing  activities:                                                                              
    Investment  in  property,  plant  and  equipment                        (81)                    (916)
    Proceeds  from  sale  of  property,  plant  and                                                                  
      equipment                                                                                              -                          99  
    Purchases  of  available-for-sale  securities                                                                
      and  other  investments                                                                      -                        (72)
    Maturities  and  sales  of  available-for-sale                                                                
      securities  and  other  investments                                            121                        123  
    Payments  made  in  connection  with  business                                                                  
      acquisitions,  net  of  cash  acquired                                            -                  (2,478)
    Proceeds  from  business  divestitures,  net                                99                        156  
                                                                                              -------------    -------------  
        Net  cash  provided  by  (used  in)  investing                                                                
          activities                                                                                    139                  (3,088)
                                                                                              -------------    -------------  
                                                                                                                                                        
Cash  flows  from  financing  activities:                                                                              
    Short-term  borrowings  with  original                                                                              
      maturities  less  than  90  days,  net                                            33                        775  
    Proceeds  from  debt,  net  of  issuance  costs                                -                    4,406  
    Payment  of  debt                                                                                    -                      (747)
    Settlement  of  cash  flow  hedge                                                      (2)                      (32)
    Issuance  of  common  stock  under  employee                                                                      
      stock  plans                                                                                        32                          80  
    Repurchase  of  common  stock                                                          (57)                    (352)
    Excess  tax  benefit  from  stock-based                                                                              
      compensation                                                                                        2                            6  
    Cash  dividends  paid                                                                      (212)                    (318)
                                                                                              -------------    -------------  
        Net  cash  (used  in)  provided  by  financing                                                                
          activities                                                                                  (204)                  3,818  
                                                                                              -------------    -------------  
                                                                                                                                                        
Net  increase  in  cash  and  cash  equivalents                            1,000                    2,403  
Cash  and  cash  equivalents  at  beginning  of                                                                      
  period                                                                                                4,636                  14,768  
                                                                                              -------------    -------------  
Cash  and  cash  equivalents  at  end  of  period          $              5,636    $            17,171  
                                                                                              =============    =============  
                                                                                                                                                        
(a)    The  consolidated  condensed  statement  of  cash  flows  for  the  three  months
          ended  July  31,  2015  represents  the  combined  cash  flows  of  HP  prior  to    
          separation,  as  previously  filed,  and  has  not  been  adjusted  to  reflect    
          the  effect  of  the  separation  of  Hewlett  Packard  Enterprise  Company.        
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                            CONSOLIDATED  CONDENSED  STATEMENTS  OF  CASH  FLOWS                              
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                Nine  months  ended  July  31,    
                                                                                              ----------------------------  
                                                                                                        2016                  2015(a)        
                                                                                              -------------    -------------  
                                                                                                                                                        
Cash  flows  from  operating  activities:                                                                              
    Net  earnings                                                                  $              2,004    $              3,231  
                                                                                                                                                        
    Adjustments  to  reconcile  net  earnings  to  net                                                            
      cash  provided  by  operating  activities:                                                                      
        Depreciation  and  amortization                                                249                    3,054  
        Stock-based  compensation  expense                                          140                        476  
        Provision  for  doubtful  accounts  and                                                                          
          inventory                                                                                      113                        265  
        Restructuring  and  other  charges                                            151                        426  
        Deferred  taxes  on  earnings                                                      978                        898  
        Excess  tax  benefit  from  stock-based                                                                          
          compensation                                                                                  (4)                    (124)
        Other,  net                                                                                    (408)                      675  
                                                                                                                                                        
    Changes  in  operating  assets  and  liabilities,                                                            
      net  of  acquisitions:                                                                                                          
        Accounts  receivable                                                                    728                    1,199  
        Financing  receivables                                                                    -                        192  
        Inventory                                                                                        251                      (467)
        Accounts  payable                                                                          238                      (358)
        Taxes  on  earnings                                                                      (877)                (1,075)
        Restructuring  and  other                                                          (114)                (1,006)
        Other  assets  and  liabilities                                                (917)                (3,505)
                                                                                              -------------    -------------  
            Net  cash  provided  by  operating                                                                                
              activities                                                                            2,532                    3,881  
                                                                                              -------------    -------------  
                                                                                                                                                        
Cash  flows  from  investing  activities:                                                                              
    Investment  in  property,  plant  and  equipment                      (287)                (2,642)
    Proceeds  from  sale  of  property,  plant  and                                                                  
      equipment                                                                                              -                        310  
    Purchases  of  available-for-sale  securities                                                                
      and  other  investments                                                                (122)                    (180)
    Maturities  and  sales  of  available-for-sale                                                                
      securities  and  other  investments                                            133                        246  
    Payments  made  in  connection  with  business                                                                  
      acquisitions,  net  of  cash  acquired                                            -                  (2,617)
    Proceeds  from  business  divestitures,  net                              160                        156  
                                                                                              -------------    -------------  
        Net  cash  used  in  investing  activities                              (116)                (4,727)
                                                                                              -------------    -------------  
                                                                                                                                                        
Cash  flows  from  financing  activities:                                                                              
    Short-term  borrowings  with  original                                                                              
      maturities  less  than  90  days,  net                                            72                    2,633  
    Proceeds  from  debt,  net  of  issuance  costs                                4                    5,993  
    Payment  of  debt                                                                          (2,158)                (2,642)
    Settlement  of  cash  flow  hedge                                                        4                        (32)
    Net  transfer  of  cash  and  cash  equivalents  to                                                            
      Hewlett  Packard  Enterprise  Company                                (10,375)                          -  
    Issuance  of  common  stock  under  employee                                                                      
      stock  plans                                                                                        41                        303  
    Repurchase  of  common  stock                                                    (1,159)                (2,582)
    Excess  tax  benefit  from  stock-based                                                                              
      compensation                                                                                        4                        124  
    Cash  dividends  paid                                                                      (646)                    (913)
                                                                                              -------------    -------------  
        Net  cash  (used  in)  provided  by  financing                                                                
          activities                                                                            (14,213)                  2,884  
                                                                                              -------------    -------------  
                                                                                                                                                        
Net  (decrease)  increase  in  cash  and  cash                                                                        
  equivalents                                                                                  (11,797)                  2,038  
Cash  and  cash  equivalents  at  beginning  of                                                                      
  period(a)                                                                                        17,433                  15,133  
                                                                                              -------------    -------------  
Cash  and  cash  equivalents  at  end  of  period          $              5,636    $            17,171  
                                                                                              =============    =============  
                                                                                                                                                        
(a)    The  consolidated  condensed  statement  of  cash  flows  for  the  nine  months  
          ended  July  31,  2015  represents  the  combined  cash  flows  of  HP  prior  to    
          separation,  as  previously  filed,  and  has  not  been  adjusted  to  reflect    
          the  effect  of  the  separation  of  Hewlett  Packard  Enterprise  Company.        
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                                        SEGMENT  INFORMATION                                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                Three  months  ended                    
                                                                            -------------------------------------  
                                                                                July  31,        April  30,          July  31,    
                                                                                    2016                  2016                  2015        
                                                                            -----------    -----------    -----------  
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems                                        $          7,512    $          6,990    $          7,505  
    Printing                                                                    4,423                4,637                5,163  
    Corporate  Investments                                                  -                        3                        2  
                                                                            -----------    -----------    -----------  
        Total  segments                                                  11,935              11,630              12,670  
    Intersegment  net  revenue                                                                                                    
      eliminations  and  other                                          (43)                  (42)                (308)
                                                                            -----------    -----------    -----------  
        Total  net  revenue                                  $        11,892    $        11,588    $        12,362  
                                                                            ===========    ===========    ===========  
                                                                                                                                                        
Earnings  from  continuing  operations                                                                                  
  before  taxes:(a)                                                                                                                      
                                                                                                                                                        
    Personal  Systems                                        $              333    $              242    $              211  
    Printing                                                                        903                    801                    896  
    Corporate  Investments                                              (35)                    (8)                  (12)
                                                                            -----------    -----------    -----------  
        Total  segment  earnings  from                                                                                          
          operations                                                          1,201                1,035                1,095  
                                                                                                                                                        
    Corporate  costs  and  eliminations                        (45)                  (88)                (126)
    Stock-based  compensation  expense                        (39)                  (40)                  (58)
    Acquisition-related  charges                                      -                        -                      (1)
    Restructuring  and  other  charges                          (36)                (100)                    (1)
    Amortization  of  intangible  assets                        (2)                    (6)                  (24)
    Non-operating  retirement-related                                                                                    
      credits(a)                                                                    38                      40                      58  
    Defined  benefit  plan  settlement                                                                                      
      credits                                                                            -                        -                      64  
    Interest  and  other,  net                                          (36)                    (5)                  (90)
                                                                            -----------    -----------    -----------  
                                                                                                                                                        
        Total  earnings  from  continuing                                                                                    
          operations  before  taxes                    $          1,081    $              836    $              917  
                                                                            ===========    ===========    ===========  
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2016,  HP          
          implemented  a  reporting  change  to  provide  better  transparency  to  its      
          segment  operating  results.  This  reporting  change  resulted  in  the              
          exclusion  of  certain  market-related  factors  such  as  interest  cost,          
          expected  return  on  plan  assets,  amortized  actuarial  gains  or  losses,      
          and  impacts  from  other  market-related  factors  related  to  its  defined      
          benefit  pension  and  post-retirement  benefit  plans  from  its  segment          
          operating  results  ("Non-operating  retirement-related                                      
          credits/(charges)").  This  change  also  resulted  in  the  exclusion  of          
          certain  plan  curtailments,  settlements  and  special  termination  benefits
          related  to  its  defined  benefit  pension  and  post-retirement  benefit          
          plans  from  HP's  segment  operating  results.  Segment  operating  results      
          will  continue  to  include  service  costs  and  amortization  of  prior              
          service  costs  associated  with  HP's  defined  benefit  pension  and  post-      
          retirement  benefit  plans.  The  reporting  change  had  an  immaterial  impact
          to  previously  reported  segment  net  revenue  and  earnings  from                      
          operations.  This  change  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                                        SEGMENT  INFORMATION                                                          
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                                                Nine  months  ended  July  31,    
                                                                                              ----------------------------  
                                                                                                        2016                      2015          
                                                                                              -------------    -------------  
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems                                                          $            21,969    $            23,826  
    Printing                                                                                        13,702                  16,267  
    Corporate  Investments                                                                        6                          16  
                                                                                              -------------    -------------  
        Total  segments                                                                        35,677                  40,109  
    Intersegment  net  revenue  eliminations  and                                                                  
      other                                                                                                    49                      (912)
                                                                                              -------------    -------------  
        Total  net  revenue                                                    $            35,726    $            39,197  
                                                                                              =============    =============  
                                                                                                                                                        
Earnings  from  continuing  operations  before                                                                    
  taxes:(a)                                                                                                                                    
                                                                                                                                                        
    Personal  Systems                                                          $                  804    $                  741  
    Printing                                                                                          2,491                    2,928  
    Corporate  Investments                                                                    (66)                      (32)
                                                                                              -------------    -------------  
        Total  segment  earnings  from  operations                          3,229                    3,637  
                                                                                                                                                        
    Corporate  costs  and  eliminations                                            (149)                    (486)
    Stock-based  compensation  expense                                            (140)                    (168)
    Aquisition-related  charges                                                              -                          (1)
    Restructuring  and  other  charges                                              (156)                      (22)
    Amortization  of  intangible  assets                                            (16)                      (76)
    Non-operating  retirement-related  credits(a)                        118                        174  
    Defined  benefit  plan  settlement  credits                                    -                          64  
    Interest  and  other,  net                                                              (135)                    (289)
                                                                                              -------------    -------------  
                                                                                                                                                        
        Total  earnings  from  continuing  operations                                                              
          before  taxes                                                            $              2,751    $              2,833  
                                                                                              =============    =============  
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2016,  HP          
          implemented  a  reporting  change  to  provide  better  transparency  to  its      
          segment  operating  results.  This  reporting  change  resulted  in  the              
          exclusion  of  certain  market-related  factors  such  as  interest  cost,          
          expected  return  on  plan  assets,  amortized  actuarial  gains  or  losses,      
          and  impacts  from  other  market-related  factors  related  to  its  defined      
          benefit  pension  and  post-retirement  benefit  plans  from  its  segment          
          operating  results  ("Non-operating  retirement-related                                      
          credits/(charges)").  This  change  also  resulted  in  the  exclusion  of          
          certain  plan  curtailments,  settlements  and  special  termination  benefits
          related  to  its  defined  benefit  pension  and  post-retirement  benefit          
          plans  from  HP's  segment  operating  results.  Segment  operating  results      
          will  continue  to  include  service  costs  and  amortization  of  prior              
          service  costs  associated  with  HP's  defined  benefit  pension  and  post-      
          retirement  benefit  plans.  The  reporting  change  had  an  immaterial  impact
          to  previously  reported  segment  net  revenue  and  earnings  from                      
          operations.  This  change  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                  HP  INC.  AND  SUBSIDIARIES                                                      
                                          SEGMENT/BUSINESS  UNIT  INFORMATION                                            
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                    Three  months  ended                        Change  (%)    
                                                -------------------------------------    -----------    
                                                    July  31,        April  30,          July  31,                                
                                                        2016                  2016                  2015            Q/Q        Y/Y    
                                                -----------    -----------    -----------    ----      ----    
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems                                                                                                                    
        Notebooks                      $          4,303    $          3,838    $          3,993        12%          8%  
        Desktops                                    2,455                2,402                2,700          2%        (9%)
        Workstations                                476                    461                    507          3%        (6%)
        Other                                              278                    289                    305        (4%)      (9%)
                                                -----------    -----------    -----------                              
            Total  Personal                                                                                                                
              Systems                                7,512                6,990                7,505          7%          0%  
                                                -----------    -----------    -----------                              
                                                                                                                                                        
    Printing                                                                                                                                    
        Supplies                                    2,840                3,099                3,455        (8%)    (18%)
        Commercial  Hardware              1,290                1,227                1,330          5%        (3%)
        Consumer  Hardware                      293                    311                    378        (6%)    (22%)
                                                -----------    -----------    -----------                              
            Total  Printing                    4,423                4,637                5,163        (5%)    (14%)
                                                -----------    -----------    -----------                              
                                                                                                                                                        
    Corporate  Investments                      -                        3                        2    (100%)  (100%)
                                                -----------    -----------    -----------                              
            Total  segments                  11,935              11,630              12,670          3%        (6%)
                                                -----------    -----------    -----------                              
                                                                                                                                                        
    Intersegment  net                                                                                                                    
      revenue  eliminations                                                                                                          
      and  other(b)                                  (43)                  (42)                (308)      NM          NM    
                                                -----------    -----------    -----------                              
                                                                                                                                                        
        Total  net  revenue      $        11,892    $        11,588    $        12,362          3%        (4%)
                                                ===========    ===========    ===========                              
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2016,  HP          
          implemented  a  reporting  change  to  provide  better  transparency  to  its      
          segment  operating  results.  This  reporting  change  resulted  in  the              
          exclusion  of  certain  market-related  factors  such  as  interest  cost,          
          expected  return  on  plan  assets,  amortized  actuarial  gains  or  losses,      
          and  impacts  from  other  market-related  factors  related  to  its  defined      
          benefit  pension  and  post-retirement  benefit  plans  from  its  segment          
          operating  results  ("Non-operating  retirement-related                                      
          credits/(charges)").  This  change  also  resulted  in  the  exclusion  of          
          certain  plan  curtailments,  settlements  and  special  termination  benefits
          related  to  its  defined  benefit  pension  and  post-retirement  benefit          
          plans  from  HP's  segment  operating  results.  Segment  operating  results      
          will  continue  to  include  service  costs  and  amortization  of  prior              
          service  costs  associated  with  HP's  defined  benefit  pension  and  post-      
          retirement  benefit  plans.  The  reporting  change  had  an  immaterial  impact
          to  previously  reported  segment  net  revenue  and  earnings  from                      
          operations.  This  change  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
(b)    "NM"  represents  not  meaningful.                                                                                
                                                                                                                                                        
                                                                                                                                                        
                                                  HP  INC.  AND  SUBSIDIARIES                                                      
                                          SEGMENT/BUSINESS  UNIT  INFORMATION                                            
                                                                (Unaudited)                                                                  
                                                              (In  millions)                                                                
                                                                                                                                                        
                                                                        Nine  months  ended  July  31,    Change  (%)    
                                                                      ---------------------------    ----------    
                                                                                2016                    2015                    Y/Y          
                                                                      -------------  -------------    ----------    
                                                                                                                                                        
Net  revenue:(a)                                                                                                                          
                                                                                                                                                        
    Personal  Systems                                                                                                                    
        Notebooks                                            $            12,346  $            12,887                    (4%)
        Desktops                                                              7,384                  8,411                  (12%)
        Workstations                                                      1,381                  1,546                  (11%)
        Other                                                                        858                      982                  (13%)
                                                                      -------------  -------------                            
            Total  Personal  Systems                            21,969                23,826                    (8%)
                                                                      -------------  -------------                            
                                                                                                                                                        
    Printing                                                                                                                                    
        Supplies                                                              9,040                10,740                  (16%)
        Commercial  Hardware                                        3,736                  4,100                    (9%)
        Consumer  Hardware                                                926                  1,427                  (35%)
                                                                      -------------  -------------                            
            Total  Printing                                            13,702                16,267                  (16%)
                                                                      -------------  -------------                            
                                                                                                                                                        
    Corporate  Investments                                                6                        16                  (63%)
                                                                      -------------  -------------                            
            Total  segments                                            35,677                40,109                  (11%)
                                                                      -------------  -------------                            
                                                                                                                                                        
    Intersegment  net  revenue                                                                                                    
      eliminations  and  other(b)                                    49                    (912)                  NM    
                                                                      -------------  -------------                            
                                                                                                                                                        
        Total  net  revenue                            $            35,726  $            39,197                    (9%)
                                                                      =============  =============                            
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2016,  HP          
          implemented  a  reporting  change  to  provide  better  transparency  to  its      
          segment  operating  results.  This  reporting  change  resulted  in  the              
          exclusion  of  certain  market-related  factors  such  as  interest  cost,          
          expected  return  on  plan  assets,  amortized  actuarial  gains  or  losses,      
          and  impacts  from  other  market-related  factors  related  to  its  defined      
          benefit  pension  and  post-retirement  benefit  plans  from  its  segment          
          operating  results  ("Non-operating  retirement-related                                      
          credits/(charges)").  This  change  also  resulted  in  the  exclusion  of          
          certain  plan  curtailments,  settlements  and  special  termination  benefits
          related  to  its  defined  benefit  pension  and  post-retirement  benefit          
          plans  from  HP's  segment  operating  results.  Segment  operating  results      
          will  continue  to  include  service  costs  and  amortization  of  prior              
          service  costs  associated  with  HP's  defined  benefit  pension  and  post-      
          retirement  benefit  plans.  The  reporting  change  had  an  immaterial  impact
          to  previously  reported  segment  net  revenue  and  earnings  from                      
          operations.  This  change  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
(b)    "NM"  represents  not  meaningful.                                                                                
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                        SEGMENT  OPERATING  MARGIN  SUMMARY  DATA                                      
                                                                  (Unaudited)                                                                
                                                                                                                                                        
                                                                                                                Change  in  Operating  
                                                      Three  months  ended                              Margin  (pts)        
                                      ----------------------------------    ---------------------
                                        July  31,        April  30,      July  31,                                                
                                            2016                2016                2015                  Q/Q                Y/Y      
                                      ----------    ----------    ----------    ----------  ----------
                                                                                                                                                        
Segment  operating                                                                                                                      
  margin:(a)                                                                                                                                  
    Personal  Systems                4.4%                3.5%                2.8%        0.9  pts        1.6  pts
    Printing                              20.4%              17.3%              17.4%        3.1  pts        3.0  pts
    Corporate                                                                                                                                  
      Investments(b)                    NM                    NM                    NM                    NM                  NM
        Total  segments              10.1%                8.9%                8.6%        1.2  pts        1.5  pts
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  2016,  HP          
          implemented  a  reporting  change  to  provide  better  transparency  to  its      
          segment  operating  results.  This  reporting  change  resulted  in  the              
          exclusion  of  certain  market-related  factors  such  as  interest  cost,          
          expected  return  on  plan  assets,  amortized  actuarial  gains  or  losses,      
          and  impacts  from  other  market-related  factors  related  to  its  defined      
          benefit  pension  and  post-retirement  benefit  plans  from  its  segment          
          operating  results  ("Non-operating  retirement-related                                      
          credits/(charges)").  This  change  also  resulted  in  the  exclusion  of          
          certain  plan  curtailments,  settlements  and  special  termination  benefits
          related  to  its  defined  benefit  pension  and  post-retirement  benefit          
          plans  from  HP's  segment  operating  results.  Segment  operating  results      
          will  continue  to  include  service  costs  and  amortization  of  prior              
          service  costs  associated  with  HP's  defined  benefit  pension  and  post-      
          retirement  benefit  plans.  The  reporting  change  had  an  immaterial  impact
          to  previously  reported  segment  net  revenue  and  earnings  from                      
          operations.  This  change  had  no  impact  on  HP's  previously  reported            
          consolidated  net  revenue,  earnings  from  operations,  net  earnings  or  net
          earnings  per  share.                                                                                                        
                                                                                                                                                        
(b)    "NM"  represents  not  meaningful.                                                                                
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                CALCULATION  OF  DILUTED  NET  EARNINGS  PER  SHARE                              
                                                                  (Unaudited)                                                                
                                      (In  millions,  except  per  share  amounts)                                    
                                                                                                                                                        
                                                                                                    Three  months  ended                
                                                                                    ----------------------------------
                                                                                        July  31,      April  30,      July  31,  
                                                                                            2016                2016              2015      
                                                                                    -----------  -----------  ----------
                                                                                                                                                        
Numerator:                                                                                                                                    
    GAAP  net  earnings  from  continuing                                                                                  
      operations                                                          $              843  $              660  $            700
                                                                                    ===========  ===========  ==========
    Non-GAAP  net  earnings                                      $              826  $              702  $            646
                                                                                    ===========  ===========  ==========
                                                                                                                                                        
Denominator:                                                                                                                                
    Weighted-average  shares  outstanding                                                                              
      during  the  reporting  period                                    1,711              1,720            1,805
    Dilutive  effect  of  employee  stock                                                                                  
      plans(a)                                                                                14                    11                  23
                                                                                    -----------  -----------  ----------
        Weighted-average  shares  used  to                                                                                  
          compute  diluted  net  earnings  per                                                                              
          share                                                                            1,725              1,731            1,828
                                                                                    ===========  ===========  ==========
                                                                                                                                                        
GAAP  diluted  net  earnings  per  share  from                                                                        
  continuing  operations                                        $            0.49  $            0.38  $          0.39
                                                                                    ===========  ===========  ==========
Non-GAAP  diluted  net  earnings  per  share      $            0.48  $            0.41  $          0.35
                                                                                    ===========  ===========  ==========
                                                                                                                                                        
(a)    Includes  any  dilutive  effect  of  restricted  stock  units,  stock  options    
          and  performance-based  awards.                                                                                    
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                CALCULATION  OF  DILUTED  NET  EARNINGS  PER  SHARE                              
                                                                  (Unaudited)                                                                
                                      (In  millions,  except  per  share  amounts)                                    
                                                                                                                                                        
                                                                                                    Nine  months  ended  July  31,
                                                                                                  ---------------------------
                                                                                                            2016                    2015        
                                                                                                  -------------  -------------
                                                                                                                                                        
Numerator:                                                                                                                                    
    GAAP  net  earnings  from  continuing  operations      $              2,153  $              2,203
                                                                                                  =============  =============
    Non-GAAP  net  earnings                                                    $              2,173  $              2,131
                                                                                                  =============  =============
                                                                                                                                                        
Denominator:                                                                                                                                
    Weighted-average  shares  outstanding  during  the                                                        
      reporting  period                                                                            1,735                  1,817
    Dilutive  effect  of  employee  stock  plans(a)                                12                        25
                                                                                                  -------------  -------------
        Weighted-average  shares  used  to  compute                                                                  
          diluted  net  earnings  per  share                                            1,747                  1,842
                                                                                                  =============  =============
                                                                                                                                                        
GAAP  diluted  net  earnings  per  share  from                                                                        
  continuing  operations                                                      $                1.23  $                1.20
                                                                                                  =============  =============
Non-GAAP  diluted  net  earnings  per  share                    $                1.24  $                1.16
                                                                                                  =============  =============
                                                                                                                                                        
(a)    Includes  any  dilutive  effect  of  restricted  stock  units,  stock  options    
          and  performance-based  awards.                                                                                    
                                                                                                                                                        
 




« Previous Page 1 | 2 | 3 | 4             



Review Article Be the first to review this article
Airbus

Featured Video
Jobs
GIS Analyst II for Air Worldwide at Boston, MA
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Mechanical Engineer for IDEX Corporation at West Jordan,, UT
Senior Structural Engineer for Design Everest at San Francisco, CA
Upcoming Events
SPTechCon 2016, Dec 5 - 8, 2016, San Francisco, CA at San Francisco CA - Dec 5 - 8, 2016
RoboUniverse San Diego at San Diego CA - Dec 14 - 15, 2016
DGI 2017 at QEII Centre London United Kingdom - Jan 23 - 25, 2017
Trimble
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy