HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
SEGMENT/BUSINESS UNIT INFORMATION
(Unaudited)
(In millions)
Six months ended
April 30,
------------------------
2015 2014
----------- -----------
Net revenue:(a)
Printing and Personal Systems Group
Personal Systems
Notebooks $ 8,894 $ 8,312
Desktops 5,711 6,617
Workstations 1,039 1,081
Other 640 696
----------- -----------
Total Personal Systems 16,284 16,706
----------- -----------
Printing
Supplies 7,285 7,661
Commercial Hardware 2,620 2,749
Consumer Hardware 1,091 1,239
----------- -----------
Total Printing 10,996 11,649
----------- -----------
Total Printing and Personal Systems
Group 27,280 28,355
----------- -----------
Enterprise Group
Industry Standard Servers 6,525 6,007
Technology Services 3,919 4,208
Storage 1,577 1,642
Networking 1,118 1,288
Business Critical Systems 403 458
----------- -----------
Total Enterprise Group 13,542 13,603
----------- -----------
Enterprise Services
Infrastructure Technology Outsourcing 6,003 7,098
Application and Business Services 3,807 4,199
----------- -----------
Total Enterprise Services 9,810 11,297
----------- -----------
Software 1,763 1,887
----------- -----------
HP Financial Services 1,608 1,737
----------- -----------
Corporate Investments 18 294
----------- -----------
Total segments 54,021 57,173
----------- -----------
Elimination of intersegment net revenue and
other (1,729) (1,710)
----------- -----------
Total HP consolidated net revenue $ 52,292 $ 55,463
=========== ===========
(a) Effective at the beginning of its first quarter of fiscal 2015, HP
implemented an organizational change to align its segment financial
reporting more closely with its current business structure. This
organizational change resulted in the transfer of third party multi-
vendor support arrangements from the Technology Services business unit
within the Enterprise Group segment to the Infrastructure Technology
Outsourcing business unit within the Enterprise Services segment. HP
reflected this change to its segment information in prior reporting
periods on an as-if basis, which resulted in the removal of
intersegment revenue from the Technology Services business unit within
the Enterprise Group segment and the related corporate intersegment
revenue eliminations. This change had no impact on HP's previously
reported consolidated net revenue, earnings from operations, net
earnings or net earnings per share.
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
SEGMENT OPERATING MARGIN SUMMARY DATA
(Unaudited)
Three
months Change in Operating
ended Margin (pts)
---------- ----------------------
April 30,
2015 Q/Q Y/Y
---------- ---------- ----------
Segment operating margin:(a)
Personal Systems 3.0% (0.7 pts) (0.5 pts)
Printing 18.3% (0.9 pts) (1.2 pts)
Total Printing & Personal Systems
Group 9.3% (0.5 pts) (0.9 pts)
Enterprise Group 14.5% (1.1 pts) 0.1 pts
Enterprise Services 4.0% 1.0 pts 1.4 pts
Software 17.9% (0.1 pts) (1.3 pts)
HP Financial Services 10.6% (0.6 pts) (0.8 pts)
Corporate Investments(b) NM NM NM
Total segments 9.4% (0.5 pts) (0.3 pts)
(a) Effective at the beginning of its first quarter of fiscal 2015, HP
implemented an organizational change to align its segment financial
reporting more closely with its current business structure. This
organizational change resulted in the transfer of third party multi-
vendor support arrangements from the Technology Services business unit
within the Enterprise Group segment to the Infrastructure Technology
Outsourcing business unit within the Enterprise Services segment. HP
reflected this change to its segment information in prior reporting
periods on an as-if basis, which resulted in the removal of
intersegment revenue from the Technology Services business unit within
the Enterprise Group segment and the related corporate intersegment
revenue eliminations, and the transfer of operating profit from the
Technology Services business unit within the Enterprise Group segment
to the Infrastructure Technology Outsourcing business unit within the
Enterprise Services segment. 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.
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
CALCULATION OF DILUTED NET EARNINGS PER SHARE
(Unaudited)
(In millions, except per share amounts)
Three months ended
-----------------------------------
April 30, January 31, April 30,
2015 2015 2014
----------- ----------- -----------
Numerator:
GAAP net earnings $ 1,011 $ 1,366 $ 1,273
=========== =========== ===========
Non-GAAP net earnings $ 1,596 $ 1,705 $ 1,691
=========== =========== ===========
Denominator:
Weighted-average shares outstanding
during the reporting period 1,814 1,833 1,890
Dilutive effect of employee stock
plans(a) 22 28 26
----------- ----------- -----------
Weighted-average shares used to
compute diluted net earnings per
share 1,836 1,861 1,916
=========== =========== ===========
GAAP diluted net earnings per share $ 0.55 $ 0.73 $ 0.66
=========== =========== ===========
Non-GAAP diluted net earnings per share $ 0.87 $ 0.92 $ 0.88
=========== =========== ===========
(a) Includes any dilutive effect of restricted stock units, restricted
stock, stock options and performance-based restricted stock units.
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HP Reports Fiscal 2015 Second Quarter Results
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