HP Inc. Reports Fiscal 2021 Full Year and Fourth Quarter Results

(a) Interest and other, net and Provision for taxes includes a gain and corresponding tax expense, respectively, from the one time Oracle litigation proceeds for the three months ended October 31, 2021.


 HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
 


  Twelve months ended
  October 31, 2021  October 31, 2020
Net revenue$63,487  $56,639 
Costs and expenses:   
Cost of revenue50,070  46,202 
Research and development1,907  1,478 
Selling, general and administrative5,741  4,906 
Restructuring and other charges245  462 
Acquisition-related charges68  16 
Amortization of intangible assets154  113 
Total costs and expenses58,185  53,177 
Earnings from operations5,302  3,462 
Interest and other, net(a)2,209  (231)
Earnings before taxes7,511     3,231  
Provision for taxes (a) (1,008 )   (387 )
Net earnings $ 6,503     $ 2,844  
       
Net earnings per share:      
Basic $ 5.38     $ 2.01  
Diluted $ 5.33     $ 2.00  
       
Cash dividends declared per share $ 0.78     $ 0.70  
       
Weighted-average shares used to compute net earnings per share:      
Basic 1,208     1,413  
Diluted 1,220     1,420  

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