HP (HPQ) 8-K Results of Operations and Financial Condition

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
GAAP COMPANY SEGMENT / BUSINESS UNIT INFORMATION (Revised)
(Unaudited)
(In millions)

	Three months ended												Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2004			Apr. 30, 2004			Jul. 31, 2004			Oct. 31, 2004			Oct. 31, 2004			Jan. 31, 2005			Apr. 30, 2005			Jul. 31, 2005			Oct. 31 2005			Oct. 31, 2005
Net revenue: (1)
Industry Standard Servers		1,961			2,110			1,817			2,240			8,128			2,332			2,371			2,320			2,506			9,529
Business Critical Systems		915			972			828			1,044			3,759			899			991			885			1,037			3,812
Storage		827			882			693			799			3,201			820			825			798			932			3,375
Other		(1	)		--			(3	)		--			(4	)		--			--			--			1			1
Enterprise Storage and Servers		3,702			3,964			3,335			4,083			15,084			4,051			4,187			4,003			4,476			16,717
Technology Services		2,090			2,219			2,245			2,332			8,886			2,389			2,464			2,394			2,418			9,665
Managed Services		524			609			620			693			2,446			754			771			753			753			3,031
Consulting & Integration		560			681			615			659			2,515			672			749			690			729			2,840
Other		2			(1	)		3			(3	)		1			--			--			--			--			--
HP Services		3,176			3,508			3,483			3,681			13,848			3,815			3,984			3,837			3,900			15,536
OpenView		133			133			144			170			580			153			182			160			196			691
OpenCall & Other		68			89			79			107			343			83			92			85			110			370
Software		201			222			223			277			923			236			274			245			306			1,061
Technology Solutions Group		7,079			7,694			7,041			8,041			29,855			8,102			8,445			8,085			8,682			33,314
Desktops		3,516			3,468			3,428			3,619			14,031			3,818			3,541			3,361			3,686			14,406
Notebooks		2,142			2,011			2,003			2,267			8,423			2,338			2,212			2,418			2,795			9,763
Workstations		235			262			248			273			1,018			269			306			291			329			1,195
Handhelds		253			191			169			273			886			290			189			171			186			836
Other		41			59			56			108			264			158			121			145			117			541
Personal Systems Group		6,187			5,991			5,904			6,540			24,622			6,873			6,369			6,386			7,113			26,741
Commercial Hardware		1,491			1,526			1,499			1,648			6,164			1,566			1,677			1,583			1,732			6,558
Consumer Hardware		1,361			1,086			919			1,330			4,696			1,205			1,100			925			1,267			4,497
Supplies		3,038			3,462			3,206			3,540			13,246			3,281			3,601			3,392			3,771			14,045
Other		20			24			24			25			93			15			12			13			15			55
Imaging and Printing Group		5,910			6,098			5,648			6,543			24,199			6,067			6,390			5,913			6,785			25,155
HP Financial Services		441			469			488			497			1,895			555			544			489			514			2,102
Corporate Investments		103			114			113			119			449			115			123			143			142			523
Total segments		19,720			20,366			19,194			21,740			81,020			21,712			21,871			21,016			23,236			87,835
Eliminations of intersegment
net revenue and other		(206	)		(253	)		(305	)		(351	)		(1,115	)		(258	)		(301	)		(257	)		(323	)		(1,139	)
Total HP Consolidated net revenue	$	19,514		$	20,113		$	18,889		$	21,389		$	79,905		$	21,454		$	21,570		$	20,759		$	22,913		$	86,696

1)     Reflects certain fiscal 2006 organizational realignments retroactively to provide improved visibility and comparability. For each of the quarters in fiscal years 2004 and 2005, the realignments primarily resulted in revenue movement of $5 million or less between ESS and SW segments within TSG. In addition, IPG and PSG revenue was impacted at the business unit level but the overall segment revenue remained as previously reported. There was no impact to the remaining segments.

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
GAAP CONSOLIDATED CONDENSED STATEMENT OF EARNINGS (Revised)
(Unaudited)
(In millions)

REVISED AMOUNTS	Three months ended										Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2004		Apr. 30, 2004			Jul. 31, 2004		Oct. 31, 2004			Oct. 31, 2004			Jan. 31, 2005			Apr. 30, 2005			Jul. 31, 2005			Oct. 31 2005			Oct. 31, 2005
Net Revenue	$	19,514	$	20,113		$	18,889	$	21,389		$	79,905		$	21,454		$	21,570		$	20,759		$	22,913		$	86,696
Cost of sales		14,691		15,182			14,545		16,393			60,811			16,537			16,429			15,942			17,532			66,440
Research and development		889		924			877		873			3,563			878			890			863			859			3,490
Selling, general and administrative		2,578		2,665			2,621		2,632			10,496			2,704			2,933			2,761			2,786			11,184
Pension curtailment		--		--			--		--			--			--			--			--			(199	)		(199	)
Restructuring charges		54		38			9		13			114			3			4			112			1,565			1,684
Amortization of purchased intangible
assets		144		148			146		165			603			167			151			168			136			622
In-process research & development charges		--		9			28		--			37			--			--			--			2			2
Acquisition-related charges		15		9			6		24			54			--			--			--			--			--
Total costs and expenses		18,371		18,975			18,232		20,100			75,678			20,289			20,407			19,846			22,681			83,223
Earnings from operations		1,143		1,138			657		1,289			4,227			1,165			1,163			913			232			3,473
Operating margin %		5.9%		5.7%			3.5%		6.0%			5.3%			5.4%			5.4%			4.4%			1.0%			4.0%
Interest and other, net		11		2			20		2			35			25			(87	)		119			132			189
Gains (losses) on investments and other, net		9		(5	)		1		(1	)		4			(24	)		3			(6	)		14			(13	)
Dispute settlement		--		(70	)		--		--			(70	)		(116	)		--			7			3			(106	)
Earnings before taxes		1,163		1,065			678		1,290			4,196			1,050			1,079			1,033			381			3,543
Provision for (benefit from) taxes		227		181			92		199			699			107			113			960			(35	)		1,145
Net earnings	$	936	$	884		$	586	$	1,091		$	3,497		$	943		$	966		$	73		$	416		$	2,398
AMOUNTS AS PREVIOUSLY REPORTED	Three months ended										Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2004		Apr. 30, 2004			Jul. 31, 2004		Oct. 31, 2004			Oct. 31, 2004			Jan. 31, 2005			Apr. 30, 2005			Jul. 31, 2005			Oct. 31 2005			Oct. 31, 2005
Net Revenue	$	19,514	$	20,113		$	18,889	$	21,389		$	79,905		$	21,454		$	21,570		$	20,759		$	22,913		$	86,696
Cost of sales		14,691		15,182			14,545		16,393			60,811			16,537			16,429			15,942			17,532			66,440
Research and development		889		924			877		873			3,563			878			890			863			859			3,490
Selling, general and administrative		2,578		2,665			2,621		2,632			10,496			2,704			2,933			2,761			2,786			11,184
Pension curtailment		--		--			--		--			--			--			--			--			(199	)		(199	)
Restructuring charges		54		38			9		13			114			3			4			112			1,565			1,684
Amortization of purchased intangible
assets		144		148			146		165			603			167			151			168			136			622
In-process research & development charges		--		9			28		--			37			--			--			--			2			2
Acquisition-related charges		15		9			6		24			54			--			--			--			--			--
Total costs and expenses		18,371		18,975			18,232		20,100			75,678			20,289			20,407			19,846			22,681			83,223
Earnings from operations		1,143		1,138			657		1,289			4,227			1,165			1,163			913			232			3,473
Operating margin %		5.9%		5.7%			3.5%		6.0%			5.3%			5.4%			5.4%			4.4%			1.0%			4.0%
Interest and other, net		11		2			20		2			35			25			(87	)		119			132			189
Gains (losses) on investments and other, net		9		(5	)		1		(1	)		4			(24	)		3			(6	)		14			(13	)
Dispute settlement		--		(70	)		--		--			(70	)		(116	)	��	--			7			3			(106	)
Earnings before taxes		1,163		1,065			678		1,290			4,196			1,050			1,079			1,033			381			3,543
Provision for (benefit from) taxes		227		181			92		199			699			107			113			960			(35	)		1,145
Net earnings	$	936	$	884		$	586	$	1,091		$	3,497		$	943		$	966		$	73		$	416		$	2,398
VARIANCE	Three months ended										Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2004		Apr. 30, 2004			Jul. 31, 2004		Oct. 31, 2004			Oct. 31, 2004			Jan. 31, 2005			Apr. 30, 2005			Jul. 31, 2005			Oct. 31 2005			Oct. 31, 2005
Net Revenue	$	--	$	--		$	--	$	--		$	--		$	--		$	--		$	--		$	--		$	--
Cost of sales		--		--			--		--			--			--			--			--			--			--
Research and development		--		--			--		--			--			--			--			--			--			--
Selling, general and administrative		--		--			--		--			--			--			--			--			--			--
Pension curtailment		--		--			--		--			--			--			--			--			--			--
Restructuring charges		--		--			--		--			--			--			--			--			--			--
Amortization of purchased intangible
assets		--		--			--		--			--			--			--			--			--			--
In-process research & development charges		--		--			--		--			--			--			--			--			--			--
Acquisition-related charges		--		--			--		--			--			--			--			--			--			--
Total costs and expenses		--		--			--		--			--			--			--			--			--			--
Earnings from operations		--		--			--		--			--			--			--			--			--			--
Operating margin %		0.0%		0.0%			0.0%		0.0%			0.0%			0.0%			0.0%			0.0%			0.0%			0.0%
Interest and other, net		--		--			--		--			--			--			--			--			--			--
Gains (losses) on investments and other, net		--		--			--		--			--			--			--			--			--			--
Dispute settlement		--		--			--		--			--			--			--			--			--			--
Earnings before taxes		--		--			--		--			--			--			--			--			--			--
Provision for (benefit from) taxes		--		--			--		--			--			--			--			--			--			--
Net earnings	$	--	$	--		$	--	$	--		$	--		$	--		$	--		$	--		$	--		$	--

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
GAAP COMPANY SEGMENT INFORMATION (Revised)
(Unaudited)
(In millions)

REVISED AMOUNTS
	Three months ended																				Twelve months ended			Three months ended																						Twelve months ended
	Jan. 31, 2004					Apr. 30, 2004					Jul. 31, 2004					Oct. 31, 2004					Oct. 31, 2004					Jan. 31, 2005					Apr. 30, 2005					Jul. 31, 2005					Oct. 31, 2005					Oct. 31, 2005
Net revenue: (1)
Enterprise Storage and Servers	$	3,702				$	3,964				$	3,335				$	4,083				$	15,084				$	4,051				$	4,187				$	4,003				$	4,476				$	16,717
HP Services		3,176					3,508					3,483					3,681					13,896					3,815					3,984					3,837					3,900					15,536
Software		201					222					223					277					923					236					274					245					306					1,061
Technology Solutions Group		7,079					7,694					7,041					8,041					29,855					8,102					8,445					8,085					8,682					33,314
Personal Systems Group		6,187					5,991					5,904					6,540					24,670					6,873					6,369					6,386					7,113					26,741
Imaging and Printing Group		5,910					6,098					5,648					6,543					24,247					6,067					6,390					5,913					6,785					25,155
HP Financial Services		441					469					488					497					1,895					555					544					489					514					2,102
Corporate Investments		103					114					113					119					497					115					123					143					142					523
Total segments		19,720					20,366					19,194					21,740					81,212					21,712					21,871					21,016					23,236					87,835
Eliminations of intersegment
net revenue and other		(206	)				(253	)				(305	)				(351	)				(1,115	)				(258	)				(301	)				(257	)				(323	)				(1,103	)
Total HP Consolidated	$	19,514				$	20,113				$	18,889				$	21,389				$	79,905				$	21,454				$	21,570				$	20,759				$	22,913				$	86,732
Earnings from operations: (1)				Op %					Op %					Op %					Op %					Op %					Op %					Op %					Op %					Op %					Op %
Enterprise Storage and Servers	$	152			4.1%	$	118			3.0%	$	(213	)		-6.4%	$	100			2.4%	$	157			1.0%	$	69			1.7%	$	180			4.3%	$	147			3.7%	$	404			9.0%	$	800			4.8%
HP Services		261			8.2%		332			9.5%		314			9.0%		375			10.2%		1,282			9.3%		281			7.4%		292			7.3%		256			6.7%		322			8.3%		1,151			7.4%
Software		(48	)	-	23.9%		(51	)	-	23.0%		(46	)	-	20.6%		(7	)		-2.5%		(152	)	-	16.5%		(38	)	-	16.1%		(2	)		-0.7%		(37	)	-	15.1%		28			9.2%		(49	)		-4.6%
Technology Solutions Group		365			5.2%		399			5.2%		55			0.8%		468			5.8%		1,287			4.3%		312			3.9%		470			5.6%		366			4.5%		754			8.7%		1,902			5.7%
Personal Systems Group		61			1.0%		44			0.7%		23			0.4%		77			1.2%		205			0.8%		147			2.1%		147			2.3%		163			2.6%		200			2.8%		657			2.5%
Imaging and Printing Group		967			16.4%		952			15.6%		836			14.8%		1,088			16.6%		3,843			15.9%		932			15.4%		814			12.7%		771			13.0%		896			13.2%		3,413			13.6%
HP Financial Services		29			6.6%		35			7.5%		42			8.6%		19			3.8%		125			6.6%		45			8.1%		58			10.7%		58			11.9%		52			10.1%		213			10.1%
Corporate Investments		(36	)	-	35.0%		(48	)	-	42.1%		(52	)	-	46.0%		(43	)	-	36.1%		(179	)	-	39.9%		(51	)	-	44.3%		(51	)		-41.5%		(37	)	-	25.9%		(35	)	-	24.6%		(174	)	-	33.3%
Total segments		1,386			7.0%		1,382			6.8%		904			4.7%		1,609			7.4%		5,281			6.5%		1,385			6.4%		1,438			6.6%		1,321			6.3%		1,867			8.0%		6,011			6.8%
Total HP Consolidated Earnings
Before Taxes	$	1,163				$	1,065				$	678				$	1,290				$	4,628				$	1,050				$	1,079				$	1,033				$	381				$	3,867

AMOUNTS AS PREVIOUSLY REPORTED

	Three months ended																				Twelve months ended			Three months ended																						Twelve months ended
	Jan. 31, 2004					Apr. 30, 2004					Jul. 31, 2004					Oct. 31, 2004					Oct. 31, 2004					Jan. 31, 2005					Apr. 30, 2005					Jul. 31, 2005					Oct. 31, 2005					Oct. 31, 2005
Net revenue: (1)
Enterprise Storage and Servers	$	3,700				$	3,961				$	3,333				$	4,080				$	15,074				$	4,047				$	4,184				$	3,999				$	4,471				$	16,701
HP Services		3,176					3,508					3,483					3,681					13,848					3,815					3,984					3,837					3,900					15,536
Software		203					225					225					280					933					240					277					249					311					1,077
Technology Solutions Group		7,079					7,694					7,041					8,041					29,855					8,102					8,445					8,085					8,682					33,314
Personal Systems Group		6,187					5,991					5,904					6,540					24,622					6,873					6,369					6,386					7,113					26,741
Imaging and Printing Group		5,910					6,098					5,648					6,543					24,199					6,067					6,390					5,913					6,785					25,155
HP Financial Services		441					469					488					497					1,895					555					544					489					514					2,102
Corporate Investments		103					114					113					119					449					115					123					143					142					523
Total segments		19,720					20,366					19,194					21,740					81,212					21,712					21,871					21,016					23,236					87,835
Eliminations of intersegment
net revenue and other		(206	)				(253	)				(305	)				(351	)				(1,115	)				(258	)				(301	)				(257	)				(323	)				(1,139	)
Total HP Consolidated	$	19,514				$	20,113				$	18,889				$	21,389				$	79,905				$	21,454				$	21,570				$	20,759				$	22,913				$	86,696
Earnings from operations: (1)				Op %					Op %					Op %					Op %					Op %					Op %					Op %					Op %					Op %					Op %
Enterprise Storage and Servers	$	153			4.1%	$	119			3.0%	$	(213	)		-6.3%	$	100			2.5%	$	161			1.1%	$	71			1.7%	$	184			4.4%	$	150			3.8%	$	405			9.0%	$	810			4.8%
HP Services		261			8.2%		332			9.5%		314			9.0%		375			10.2%		1,282			9.3%		281			7.4%		292			7.3%		256			6.7%		322			8.3%		1,151			7.4%
Software		(49	)	-	24.1%		(52	)	-	23.0%		(46	)	-	21.3%		(7	)		-2.5%		(156	)	-	16.5%		(38	)	-	16.7%		(6	)		-2.2%		(40	)	-	16.1%		27			8.7%		(59	)		-5.5%
Technology Solutions Group		365			5.2%		399			5.2%		55			0.8%		468			5.8%		1,287			4.3%		312			3.9%		470			5.6%		366			4.5%		754			8.7%		1,902			5.7%
Personal Systems Group		61			1.0%		44			0.7%		23			0.4%		77			1.2%		205			0.8%		147			2.1%		147			2.3%		163			2.6%		200			2.8%		657			2.5%
Imaging and Printing Group		967			16.4%		952			15.6%		836			14.8%		1,088			16.6%		3,843			15.9%		932			15.4%		814			12.7%		771			13.0%		896			13.2%		3,413			13.6%
HP Financial Services		29			6.6%		35			7.5%		42			8.6%		19			3.8%		125			6.6%		45			8.1%		58			10.7%		58			11.9%		52			10.1%		213			10.1%
Corporate Investments		(36	)	-	35.0%		(48	)	-	42.1%		(52	)	-	46.0%		(43	)	-	36.1%		(179	)	-	39.9%		(51	)	-	44.3%		(51	)		-41.5%		(37	)	-	25.9%		(35	)	-	24.6%		(174	)	-	33.3%
Total segments		1,386			7.0%		1,382			6.8%		904			4.7%		1,609			7.4%		5,281			6.5%		1,385			6.4%		1,438			6.6%		1,321			6.3%		1,867			8.0%		6,011			6.8%
Total HP Consolidated Earnings
Before Taxes	$	1,163				$	1,065				$	678				$	1,290				$	4,196				$	1,050				$	1,079				$	1,033				$	381				$	3,867

VARIANCE

	Three months ended									Twelve months ended		Three months ended									Twelve months ended
	Jan. 31, 2004		Apr. 30, 2004		Jul. 31, 2004			Oct. 31, 2004		Oct. 31, 2004			Jan. 31, 2005		Apr. 30, 2005		Jul. 31, 2005		Oct. 31, 2005		Oct. 31, 2005
Net revenue: (1)
Enterprise Storage and Servers	$	2	$	3	$	2		$	3	$	10		$	4	$	3	$	4	$	5	$	16
HP Services		-		-		-			-		-			-		-		-		-		-
Software		(2)		(3)		(2)			(3)		(10)			(4)		(3)		(4)		(5)		(16)
Technology Solutions Group		-		-		-			-		-			-		-		-		-		-
Personal Systems Group		-		-		-			-		-			-		-		-		-		-
Imaging and Printing Group		-		-		-			-		-			-		-		-		-		-
HP Financial Services		-		-		-			-		-			-		-		-		-		-
Corporate Investments		-		-		-			-		-			-		-		-		-		-
Total segments		-		-		-			-		-			-		-		-		-		-
Eliminations of intersegment
net revenue and other		-		-		-			-		-			-		-		-		-		-
Total HP Consolidated	$	-	$	-	$	-		$	-	$	-		$	-	$	-	$	-	$	-	$	-
Earnings from operations: (1)
Enterprise Storage and Servers	$	(1)	$	(1)	$	(2	)	$	-	$	(4)		$	(2)	$	(4)	$	(3)	$	(1)	$	(10)
HP Services		-		-		-			-		-			-		-		-		-		-
Software		1		1		2			-		4			2		4		3		1		10
Technology Solutions Group		-		-		-			-		-			-		-		-		-		-
Personal Systems Group		-		-		-			-		-			-		-		-		-		-
Imaging and Printing Group		-		-		-			-		-			-		-		-		-		-
HP Financial Services		-		-		-			-		-			-		-		-		-		-
Corporate Investments		-		-		-			-		-			-		-		-		-		-
Total segments		-		-		-			-		-			-		-		-		-		-
Total HP Consolidated Earnings
Before Taxes	$	-	$	-	$	-		$	-	$	-		$	-	$	-	$	-	$	-	$	-

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
GAAP COMPANY SEGMENT / BUSINESS UNIT INFORMATION (Revised)
(Unaudited)
(In millions)

	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															VARIANCE
	Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2004			Apr. 30, 2004			Jul. 31, 2004			Oct. 31, 2004			Oct. 31, 2004			Jan. 31, 2004			Apr. 30, 2004			Jul. 31, 2004			Oct. 31, 2004			Oct. 31, 2004			Jan. 31, 2004			Apr. 30, 2004			Jul. 31, 2004			Oct. 31, 2004			Oct. 31, 2004
Net revenue:
Industry Standard Servers		1,961			2,110			1,817			2,240			8,128			1,959			2,107			1,815			2,237			8,118			2			3			2			3			10
Business Critical Systems		915			972			828			1,044			3,759			915			972			828			1,044			3,759			--			--			--			--			--
Storage		827			882			693			799			3,201			827			882			693			799			3,201			--			--			--			--			--
Other		(1	)		--			(3	)		--			(4	)		(1	)		--			(3	)		--			(4	)		--			--			--			--			--
Enterprise Storage and Servers		3,702			3,964			3,335			4,083			15,084			3,700			3,961			3,333			4,080			15,074			2			3			2			3			10
Technology Services		2,090			2,219			2,245			2,332			8,886			2,090			2,219			2,245			2,332			8,886			--			--			--			--			--
Managed Services		524			609			620			693			2,446			524			609			620			693			2,446			--			--			--			--			--
Consulting & Integration		560			681			615			659			2,515			560			681			615			659			2,515			--			--			--			--			--
Other		2			(1	)		3			(3	)		1			2			(1	)		3			(3	)		1			--			--			--			--			--
HP Services		3,176			3,508			3,483			3,681			13,848			3,176			3,508			3,483			3,681			13,848			--			--			--			--			--
OpenView		133			133			144			170			580			133			135			145			172			585			--			(2	)		(1	)		(2	)		(5	)
OpenCall & Other		68			89			79			107			343			70			90			80			108			348			(2	)		(1	)		(1	)		(1	)		(5	)
Software		201			222			223			277			923			203			225			225			280			933			(2	)		(3	)		(2	)		(3	)		(10	)
Technology Solutions Group		7,079			7,694			7,041			8,041			29,855			7,079			7,694			7,041			8,041			29,855			--			--			--			--			--
Desktops		3,516			3,468			3,428			3,619			14,031			3,516			3,468			3,428			3,619			14,031			--			--			--			--			--
Notebooks		2,142			2,011			2,003			2,267			8,423			2,142			2,011			2,003			2,267			8,423			--			--			--			--			--
Workstations		235			262			248			273			1,018			235			262			248			273			1,018			--			--			--			--			--
Handhelds		253			191			169			273			886			253			191			169			273			886			--			--			--			--			--
Other		41			59			56			108			264			41			59			56			108			264			--			--			--			--			--
Personal Systems Group		6,187			5,991			5,904			6,540			24,622			6,187			5,991			5,904			6,540			24,622			--			--			--			--			--
Commercial Hardware		1,491			1,526			1,499			1,648			6,164			1,547			1,591			1,546			1,706			6,390			(56	)		(65	)		(47	)		(58	)		(226	)
Consumer Hardware		1,361			1,086			919			1,330			4,696			1,276			986			834			1,239			4,335			85			100			85			91			361
Supplies		3,038			3,462			3,206			3,540			13,246			3,026			3,451			3,192			3,528			13,197			12			11			14			12			49
Other		20			24			24			25			93			61			70			76			70			277			(41	)		(46	)		(52	)		(45	)		(184	)
Imaging and Printing Group		5,910			6,098			5,648			6,543			24,199			5,910			6,098			5,648			6,543			24,199			--			--			--			--			--
HP Financial Services		441			469			488			497			1,895			441			469			488			497			1,895			--			--			--			--			--
Corporate Investments		103			114			113			119			449			103			114			113			119			449			--			--			--			--			--
Total segments		19,720			20,366			19,194			21,740			81,020			19,720			20,366			19,194			21,740			81,020			--			--			--			--			--
Eliminations of intersegment
net revenue and other		(206	)		(253	)		(305	)		(351	)		(1,115	)		(206	)		(253	)		(305	)		(351	)		(1,115	)		--			--			--			--			--
Total HP Consolidated net revenue	$	19,514		$	20,113		$	18,889		$	21,389		$	79,905		$	19,514		$	20,113		$	18,889		$	21,389		$	79,905		$	--		$	--		$	--		$	--		$	--

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
GAAP COMPANY SEGMENT / BUSINESS UNIT INFORMATION (Revised)
(Unaudited)
(In millions)

	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															VARIANCE
	Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended
	Jan. 31, 2005			Apr. 30, 2005			Jul. 31, 2005			Oct. 31, 2005			Oct. 31, 2005			Jan. 31, 2005			Apr. 30, 2005			Jul. 31, 2005			Oct. 31, 2005			Oct. 31, 2005			Jan. 31, 2005			Apr. 30, 2005			Jul. 31, 2005			Oct. 31, 2005			Oct. 31, 2005
Net revenue:
Industry Standard Servers		2,332			2,371			2,320			2,506			9,529			2,328			2,368			2,316			2,501			9,513			4			3			4			5			16
Business Critical Systems		899			991			885			1,037			3,812			899			991			885			1,037			3,812			--			--			--			--			--
Storage		820			825			798			932			3,375			820			825			798			932			3,375			--			--			--			--			--
Other		--			--			--			1			1			--			--			--			1			1			--			--			--			--			--
Enterprise Storage and Servers		4,051			4,187			4,003			4,476			16,717			4,047			4,184			3,999			4,471			16,701			4			3			4			5			16
Technology Services		2,389			2,464			2,394			2,418			9,665			2,389			2,464			2,394			2,418			9,665			--			--			--			--			--
Managed Services		754			771			753			753			3,031			754			771			753			753			3,031			--			--			--			--			--
Consulting & Integration		672			749			690			729			2,840			672			749			690			729			2,840			--			--			--			--			--
Other		--			--			--			--			--			--			--			--			--			--			--			--			--			--			--
HP Services		3,815			3,984			3,837			3,900			15,536			3,815			3,984			3,837			3,900			15,536			--			--			--			--			--
OpenView		153			182			160			196			691			154			183			164			200			701			(1	)		(1	)		(4	)		(4	)		(10	)
OpenCall & Other		83			92			85			110			370			86			94			85			111			376			(3	)		(2	)		--			(1	)		(6	)
Software		236			274			245			306			1,061			240			277			249			311			1,077			(4	)		(3	)		(4	)		(5	)		(16	)
Technology Solutions Group		8,102			8,445			8,085			8,682			33,314			8,102			8,445			8,085			8,682			33,314			--			--			--			--			--
Desktops		3,818			3,541			3,361			3,686			14,406			3,802			3,520			3,335			3,664			14,321			16			21			26			22			85
Notebooks		2,338			2,212			2,418			2,795			9,763			2,338			2,212			2,418			2,795			9,763			--			--			--			--			--
Workstations		269			306			291			329			1,195			285			327			317			351			1,280			(16	)		(21	)		(26	)		(22	)		(85	)
Handhelds		290			189			171			186			836			290			189			171			186			836			--			--			--			--			--
Other		158			121			145			117			541			158			121			145			117			541			--			--			--			--			--
Personal Systems Group		6,873			6,369			6,386			7,113			26,741			6,873			6,369			6,386			7,113			26,741			--			--			--			--			--
Commercial Hardware		1,566			1,677			1,583			1,732			6,558			1,611			1,723			1,624			1,773			6,731			(45	)		(46	)		(41	)		(41	)		(173	)
Consumer Hardware		1,205			1,100			925			1,267			4,497			1,114			1,019			842			1,187			4,162			91			81			83			80			335
Supplies		3,281			3,601			3,392			3,771			14,045			3,272			3,590			3,389			3,759			14,010			9			11			3			12			35
Other		15			12			13			15			55			70			58			58			66			252			(55	)		(46	)		(45	)		(51	)		(197	)
Imaging and Printing Group		6,067			6,390			5,913			6,785			25,155			6,067			6,390			5,913			6,785			25,155			--			--			--			--			--
HP Financial Services		555			544			489			514			2,102			555			544			489			514			2,102			--			--			--			--			--
Corporate Investments		115			123			143			142			523			115			123			143			142			523			--			--			--			--			--
Total segments		21,712			21,871			21,016			23,236			87,835			21,712			21,871			21,016			23,236			87,835			--			--			--			--			--
Eliminations of intersegment
net revenue and other		(258	)		(301	)		(257	)		(323	)		(1,139	)		(258	)		(301	)		(257	)		(323	)		(1,139	)		--			--			--			--			--
Total HP Consolidated net revenue	$	21,454		$	21,570		$	20,759		$	22,913		$	86,696		$	21,454		$	21,570		$	20,759		$	22,913		$	86,696		$	--		$	--		$	--		$	--		$	--