HP Inc. Reports Fiscal 2017 Full-Year and Fourth Quarter Results


 
HP INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)
(In millions)
 
  Twelve months ended October 31,
  2017  2016
Net revenue:(a)   
Personal Systems$33,374  $29,987 
Printing18,801  18,260 
Corporate Investments8  7 
Total segments52,183  48,254 
Net revenue eliminations and other(127) (16)
Total net revenue$52,056  $48,238 
    
Earnings from continuing operations before taxes:(a)   
Personal Systems$1,213  $1,150 
Printing3,161  3,128 
Corporate Investments(87) (98)
Total segment earnings from operations4,287  4,180 
Corporate costs and eliminations(186) (188)
Stock-based compensation expense(224) (182)
Restructuring and other charges(362) (205)
Acquisition-related charges(125) (7)
Amortization of intangible assets(1) (16)
Non-operating retirement-related credits135  146 
Defined benefit plan settlement charges(5) (179)
Interest and other, net(243) 212 
Total earnings from continuing operations before taxes$3,276  $3,761 
        

(a) Effective beginning of Q1 FY17, HP implemented an organizational change to align its business unit financial reporting more closely with its current business structure. The organizational change resulted in transfer of a portion of LaserJet printers from Commercial to Consumer within the Printing segment. HP reflected this change to its business unit information in prior reporting periods on an as-if basis which resulted in reclassification of revenues between the Commercial and Consumer business units of Printing. The reporting change had no impact to previously reported segment net revenue, consolidated net revenue, earnings from continuing operations, net earnings or net earnings per share.


 
HP INC. AND SUBSIDIARIES
SEGMENT/BUSINESS UNIT INFORMATION
(Unaudited)
(In millions)
 
  Three months ended  Change (%)
  October 31,
2017
  July 31,
2017
  October 31,
2016
  Q/Q  Y/Y
Net revenue(a):         
Personal Systems         
Notebooks$5,391  $5,008    $ 4,636     8 %   16 %
Desktops 2,821     2,566     2,572     10 %   10 %
Workstations 526     530     489     (1 )%   8 %
Other 346     300     321     15 %   8 %
Total Personal Systems 9,084     8,404     8,018     8 %   13 %
Printing                  
Supplies 3,132     3,120     2,835     0 %   10 %
Commercial Hardware 1,119     986     1,107     13 %   1 %
Consumer Hardware 626     592     616     6 %   2 %
Total Printing 4,877     4,698     4,558     4 %   7 %
Corporate Investments 1     2     1     100 %   0 %
Total segments 13,962     13,104     12,577     7 %   11 %
Net revenue eliminations and other (b) (35 )   (44 )   (65 )   NM     NM  
Total net revenue $ 13,927     $ 13,060     $ 12,512     7 %   11 %
 

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