HP Inc. Reports Fiscal 2018 Second Quarter Results


 
HP INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)
(In millions)
 
  Three months ended
  April 30,
2018
  January 31,
2018
  April 30,
2017
Net revenue:(a)     
Personal Systems$8,762  $9,440  $7,653 
Printing5,241  5,076  4,728 
Corporate Investments1  1  3 
  Total segments14,004  14,517  12,384 
Other(1)   1 
  Total net revenue$14,003  $14,517  $12,385 
      
Earnings before taxes:(a)     
Personal Systems$331  $337  $244 
Printing839  801  820 
Corporate Investments(21) (19) (26)
  Total segment earnings from operations1,149  1,119  1,038 
Corporate and unallocated costs and other(53) (23) (43)
Stock-based compensation expense(63) (85) (48)
Restructuring and other charges(57) (31) (140)
Acquisition-related charges(45) (42) (20)
Amortization of intangible assets(20) (20) (1)
Non-operating retirement-related credits53  56  35 
Defined benefit plan settlement charges  (1) (3)
Interest and other, net(881) (68) (64)
  Total earnings before taxes$83  $905  $754 
            


(a) Effective at the beginning of its first quarter of fiscal year 2018, HP implemented an organizational change to align its segment and business unit financial reporting more closely with its current business structure. The organizational change resulted in the transfer of long life consumables from Commercial to Supplies within the Printing segment. Certain revenues related to service arrangements, which are being eliminated for the purposes of reporting HP’s consolidated net revenue, have now been reclassified from Other to segments. HP has reflected this change to its segment and business unit information in prior reporting periods on an as-if basis. The reporting change had no impact to previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share.

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