HPE Reports Fiscal 2018 First Quarter Results

(b) Primarily relates to an H3C working capital adjustment payment.

(c) During the first quarter of fiscal 2018, the Company adopted ASU 2016-09, as a result of which, excess tax benefits from stock-based compensation is presented as an operating activity, rather than as a financing activity, and the payment of withholding taxes is presented as a financing activity, rather than as an operating activity. The Company adopted the standard retrospectively for the prior comparative periods. As such, prior period amounts have been reclassified to conform to the current presentation.

 
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)
(In millions)
   
   Three months ended
   January 31,
 2018
  October 31,
 2017
  January 31,
 2017
Net revenue:(a)      
Hybrid IT $6,331  $6,155  $5,755 
Intelligent Edge 620  697  570 
Financial Services 888  1,010  823 
Corporate Investments (1) 3   
Total segment net revenue 7,838  7,865  7,148 
Elimination of intersegment net revenue and other (164) (205) (246)
Total Hewlett Packard Enterprise consolidated net revenue $7,674  $7,660  $6,902 
       
Earnings from continuing operations before taxes:(a) (b)      
Hybrid IT $608  $602  $733 
Intelligent Edge 18  87  16 
Financial Services 72  77  76 
Corporate Investments (21) (21) (33)
Total segment earnings from operations 677  745  792 
       
Unallocated corporate costs and eliminations(b) (54) (100) (96)
Unallocated stock-based compensation expense(b) (30) (20) (43)
Amortization of intangible assets (78) (86) (66)
Restructuring charges (3) (113) (83)
Transformation costs(c)   (245 )   (328 )    
Disaster charges (d)       (93 )    
Acquisition and other related charges   (30 )   (53 )   (44 )
Separation costs   24     (202 )   (11 )
Defined benefit plan settlement charges and remeasurement (benefit) (e)       26     4  
Interest and other, net   (21 )   (76 )   (78 )
Tax indemnification adjustments (f)   (919 )   (2 )   (18 )
Earnings (loss) from equity interests   22     1     (22 )
Total Hewlett Packard Enterprise consolidated (loss) earnings from continuing operations before taxes (b)   $ (657 )   $ (301 )   $ 335  

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