EXHIBIT 99.3
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FISCAL 2013 SEGMENT INFORMATION (Revised) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
REVISED AMOUNTS | AMOUNTS AS PREVIOUSLY REPORTED | CHANGE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Twelve months ended | Three months ended | Twelve months ended | Three months ended | Twelve months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Net revenue: (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Systems | $ | 8,232 | $ | 7,610 | $ | 7,733 | $ | 8,604 | $ | 32,179 | $ | 8,204 | $ | 7,584 | $ | 7,704 | $ | 8,579 | $ | 32,071 | $ | 28 | $ | 26 | $ | 29 | $ | 25 | $ | 108 | ||||||||||||||||||||||||||||||
Printing | 5,946 | 6,094 | 5,809 | 6,047 | 23,896 | 5,926 | 6,081 | 5,803 | 6,044 | 23,854 | 20 | 13 | 6 | 3 | 42 | |||||||||||||||||||||||||||||||||||||||||||||
Total Printing and Personal Systems Group | 14,178 | 13,704 | 13,542 | 14,651 | 56,075 | 14,130 | 13,665 | 13,507 | 14,623 | 55,925 | 48 | 39 | 35 | 28 | 150 | |||||||||||||||||||||||||||||||||||||||||||||
Enterprise Group | 6,948 | 6,794 | 6,764 | 7,575 | 28,081 | 6,984 | 6,819 | 6,786 | 7,594 | 28,183 | (36 | ) | (25 | ) | (22 | ) | (19 | ) | (102 | ) | ||||||||||||||||||||||||||||||||||||||||
Enterprise Services | 6,038 | 6,133 | 5,972 | 5,918 | 24,061 | 5,919 | 5,999 | 5,843 | 5,759 | 23,520 | 119 | 134 | 129 | 159 | 541 | |||||||||||||||||||||||||||||||||||||||||||||
Software | 951 | 967 | 1,010 | 1,093 | 4,021 | 926 | 941 | 982 | 1,064 | 3,913 | 25 | 26 | 28 | 29 | 108 | |||||||||||||||||||||||||||||||||||||||||||||
HP Financial Services | 957 | 881 | 879 | 912 | 3,629 | 957 | 881 | 879 | 912 | 3,629 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Corporate Investments | 4 | 10 | 5 | 5 | 24 | 4 | 10 | 5 | 5 | 24 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total segments | 29,076 | 28,489 | 28,172 | 30,154 | 115,891 | 28,920 | 28,315 | 28,002 | 29,957 | 115,194 | 156 | 174 | 170 | 197 | 697 | |||||||||||||||||||||||||||||||||||||||||||||
Elimination of intersegment net revenue and other | (717 | ) | (907 | ) | (946 | ) | (1,023 | ) | (3,593 | ) | (561 | ) | (733 | ) | (776 | ) | (826 | ) | (2,896 | ) | (156 | ) | (174 | ) | (170 | ) | (197 | ) | (697 | ) | ||||||||||||||||||||||||||||||
Total HP consolidated net revenue | $ | 28,359 | $ | 27,582 | $ | 27,226 | $ | 29,131 | $ | 112,298 | $ | 28,359 | $ | 27,582 | $ | 27,226 | $ | 29,131 | $ | 112,298 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||||||
Earnings before taxes: (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Systems | $ | 233 | $ | 244 | $ | 238 | $ | 265 | $ | 980 | $ | 223 | $ | 239 | $ | 228 | $ | 259 | $ | 949 | $ | 10 | $ | 5 | $ | 10 | $ | 6 | $ | 31 | ||||||||||||||||||||||||||||||
Printing | 967 | 970 | 915 | 1,081 | 3,933 | 953 | 958 | 908 | 1,071 | 3,890 | 14 | 12 | 7 | 10 | 43 | |||||||||||||||||||||||||||||||||||||||||||||
Total Printing and Personal Systems Group | 1,200 | 1,214 | 1,153 | 1,346 | 4,913 | 1,176 | 1,197 | 1,136 | 1,330 | 4,839 | 24 | 17 | 17 | 16 | 74 | |||||||||||||||||||||||||||||||||||||||||||||
Enterprise Group | 1,070 | 1,074 | 1,023 | 1,092 | 4,259 | 1,084 | 1,082 | 1,033 | 1,102 | 4,301 | (14 | ) | (8 | ) | (10 | ) | (10 | ) | (42 | ) | ||||||||||||||||||||||||||||||||||||||||
Enterprise Services | 76 | 156 | 192 | 255 | 679 | 76 | 156 | 192 | 255 | 679 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Software | 155 | 180 | 203 | 330 | 868 | 157 | 180 | 201 | 328 | 866 | (2 | ) | - | 2 | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||
HP Financial Services | 101 | 97 | 99 | 102 | 399 | 101 | 97 | 99 | 102 | 399 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Corporate Investments | (73 | ) | (75 | ) | (82 | ) | (86 | ) | (316 | ) | (65 | ) | (56 | ) | (58 | ) | (57 | ) | (236 | ) | (8 | ) | (19 | ) | (24 | ) | (29 | ) | (80 | ) | ||||||||||||||||||||||||||||||
Total segment earnings from operations | 2,529 | 2,646 | 2,588 | 3,039 | 10,802 | 2,529 | 2,656 | 2,603 | 3,060 | 10,848 | - | (10 | ) | (15 | ) | (21 | ) | (46 | ) | |||||||||||||||||||||||||||||||||||||||||
Corporate and unallocated costs and eliminations | (109 | ) | (169 | ) | (185 | ) | (323 | ) | (786 | ) | (109 | ) | (179 | ) | (200 | ) | (344 | ) | (832 | ) | - | 10 | 15 | 21 | 46 | |||||||||||||||||||||||||||||||||||
Unallocated costs related to stock-based | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
compensation expense | (184 | ) | (107 | ) | (107 | ) | (102 | ) | (500 | ) | (184 | ) | (107 | ) | (107 | ) | (102 | ) | (500 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Amortization of intangible assets | (350 | ) | (350 | ) | (356 | ) | (317 | ) | (1,373 | ) | (350 | ) | (350 | ) | (356 | ) | (317 | ) | (1,373 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Restructuring charges | (130 | ) | (408 | ) | (81 | ) | (371 | ) | (990 | ) | (130 | ) | (408 | ) | (81 | ) | (371 | ) | (990 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Acquisition-related charges | (4 | ) | (11 | ) | (4 | ) | (3 | ) | (22 | ) | (4 | ) | (11 | ) | (4 | ) | (3 | ) | (22 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Interest and other, net | (179 | ) | (193 | ) | (146 | ) | (103 | ) | (621 | ) | (179 | ) | (193 | ) | (146 | ) | (103 | ) | (621 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Total HP consolidated earnings before taxes | $ | 1,573 | $ | 1,408 | $ | 1,709 | $ | 1,820 | $ | 6,510 | $ | 1,573 | $ | 1,408 | $ | 1,709 | $ | 1,820 | $ | 6,510 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||||||
(a) | Effective at the beginning of its first quarter of fiscal 2014, HP implemented certain organizational changes to align its segment financial reporting more closely with its current business structure. These organizational changes include (i) transferring the HP Exstream business from the Commercial Hardware business unit within the Printing segment to the Software segment; (ii) transferring the Personal Systems trade and warranty support business from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment; (iii) transferring the spare and replacement parts business supporting the Personal Systems and Printing segments from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment and the Commercial Hardware business unit within the Printing segment, respectively; and (iv) transferring certain cloud-related incubation activities previously reported in Corporate and unallocated costs and eliminations and in the Enterprise Group segment to the Corporate Investments segment. In addition, HP transferred certain intrasegment eliminations from the Enterprise Services segment and the Enterprise Group segment to corporate intersegment revenue eliminations. HP reflected these changes to its segment information in prior reporting periods on an as-if basis, which resulted in the transfer of revenue among the Personal Systems, Printing, the Enterprise Group, Enterprise Services and Software segments. These changes also resulted in the transfer of operating profit among the Personal Systems, Printing, the Enterprise Group, Software and Corporate Investments segments. These changes had no impact on HP’s previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. |
Page 1 of 6
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FISCAL 2012 SEGMENT INFORMATION (Revised) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
REVISED AMOUNTS | AMOUNTS AS PREVIOUSLY REPORTED | CHANGE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Twelve months ended | Three months ended | Twelve months ended | Three months ended | Twelve months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Net revenue: (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Systems | $ | 8,924 | $ | 9,499 | $ | 8,667 | $ | 8,753 | $ | 35,843 | $ | 8,892 | $ | 9,470 | $ | 8,636 | $ | 8,727 | $ | 35,725 | $ | 32 | $ | 29 | $ | 31 | $ | 26 | $ | 118 | ||||||||||||||||||||||||||||||
Printing | 6,269 | 6,142 | 6,038 | 6,089 | 24,538 | 6,258 | 6,132 | 6,017 | 6,080 | 24,487 | 11 | 10 | 21 | 9 | 51 | |||||||||||||||||||||||||||||||||||||||||||||
Total Printing and Personal Systems Group | 15,193 | 15,641 | 14,705 | 14,842 | 60,381 | 15,150 | 15,602 | 14,653 | 14,807 | 60,212 | 43 | 39 | 52 | 35 | 169 | |||||||||||||||||||||||||||||||||||||||||||||
Enterprise Group | 7,243 | 7,518 | 7,454 | 7,428 | 29,643 | 7,282 | 7,546 | 7,492 | 7,459 | 29,779 | (39 | ) | (28 | ) | (38 | ) | (31 | ) | (136 | ) | ||||||||||||||||||||||||||||||||||||||||
Enterprise Services | 6,442 | 6,589 | 6,501 | 6,461 | 25,993 | 6,371 | 6,489 | 6,397 | 6,352 | 25,609 | 71 | 100 | 104 | 109 | 384 | |||||||||||||||||||||||||||||||||||||||||||||
Software | 970 | 996 | 999 | 1,206 | 4,171 | 946 | 970 | 973 | 1,171 | 4,060 | 24 | 26 | 26 | 35 | 111 | |||||||||||||||||||||||||||||||||||||||||||||
HP Financial Services | 950 | 968 | 935 | 966 | 3,819 | 950 | 968 | 935 | 966 | 3,819 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Corporate Investments | 30 | 7 | 11 | 10 | 58 | 30 | 7 | 11 | 10 | 58 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total segments | 30,828 | 31,719 | 30,605 | 30,913 | 124,065 | 30,729 | 31,582 | 30,461 | 30,765 | 123,537 | 99 | 137 | 144 | 148 | 528 | |||||||||||||||||||||||||||||||||||||||||||||
Elimination of intersegment net revenue and other | (792 | ) | (1,026 | ) | (936 | ) | (954 | ) | (3,708 | ) | (693 | ) | (889 | ) | (792 | ) | (806 | ) | (3,180 | ) | (99 | ) | (137 | ) | (144 | ) | (148 | ) | (528 | ) | ||||||||||||||||||||||||||||||
Total HP consolidated net revenue | $ | 30,036 | $ | 30,693 | $ | 29,669 | $ | 29,959 | $ | 120,357 | $ | 30,036 | $ | 30,693 | $ | 29,669 | $ | 29,959 | $ | 120,357 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||||||
Earnings before taxes (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Systems | $ | 470 | $ | 524 | $ | 415 | $ | 315 | $ | 1,724 | $ | 459 | $ | 516 | $ | 405 | $ | 309 | $ | 1,689 | $ | 11 | $ | 8 | $ | 10 | $ | 6 | $ | 35 | ||||||||||||||||||||||||||||||
Printing | 769 | 817 | 961 | 1,065 | 3,612 | 761 | 808 | 949 | 1,067 | 3,585 | 8 | 9 | 12 | (2 | ) | 27 | ||||||||||||||||||||||||||||||||||||||||||||
Total Printing and Personal Systems Group | 1,239 | 1,341 | 1,376 | 1,380 | 5,336 | 1,220 | 1,324 | 1,354 | 1,376 | 5,274 | 19 | 17 | 22 | 4 | 62 | |||||||||||||||||||||||||||||||||||||||||||||
Enterprise Group | 1,310 | 1,335 | 1,262 | 1,216 | 5,123 | 1,329 | 1,352 | 1,284 | 1,229 | 5,194 | (19 | ) | (17 | ) | (22 | ) | (13 | ) | (71 | ) | ||||||||||||||||||||||||||||||||||||||||
Enterprise Services | 145 | 237 | 240 | 423 | 1,045 | 145 | 237 | 240 | 423 | 1,045 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Software | 162 | 172 | 175 | 327 | 836 | 162 | 172 | 175 | 318 | 827 | - | - | - | 9 | 9 | |||||||||||||||||||||||||||||||||||||||||||||
HP Financial Services | 91 | 96 | 97 | 104 | 388 | 91 | 96 | 97 | 104 | 388 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Corporate Investments | (50 | ) | (48 | ) | (57 | ) | (78 | ) | (233 | ) | (50 | ) | (48 | ) | (57 | ) | (78 | ) | (233 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Total segment earnings from operations | 2,897 | 3,133 | 3,093 | 3,372 | 12,495 | 2,897 | 3,133 | 3,093 | 3,372 | 12,495 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Corporate and unallocated costs and eliminations | (152 | ) | (202 | ) | (314 | ) | (119 | ) | (787 | ) | (152 | ) | (202 | ) | (314 | ) | (119 | ) | (787 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Unallocated costs related to stock-based | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
compensation expense | (175 | ) | (169 | ) | (150 | ) | (141 | ) | (635 | ) | (175 | ) | (169 | ) | (150 | ) | (141 | ) | (635 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Amortization of intangible assets | (466 | ) | (470 | ) | (476 | ) | (372 | ) | (1,784 | ) | (466 | ) | (470 | ) | (476 | ) | (372 | ) | (1,784 | ) | - | - | �� | - | - | - | ||||||||||||||||||||||||||||||||||
Impairment of goodwill and intangible assets | - | - | (9,188 | ) | (8,847 | ) | (18,035 | ) | - | - | (9,188 | ) | (8,847 | ) | (18,035 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||
Restructuring charges | (40 | ) | (53 | ) | (1,795 | ) | (378 | ) | (2,266 | ) | (40 | ) | (53 | ) | (1,795 | ) | (378 | ) | (2,266 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Acquisition-related charges | (22 | ) | (17 | ) | (3 | ) | (3 | ) | (45 | ) | (22 | ) | (17 | ) | (3 | ) | (3 | ) | (45 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Interest and other, net | (221 | ) | (243 | ) | (224 | ) | (188 | ) | (876 | ) | (221 | ) | (243 | ) | (224 | ) | (188 | ) | (876 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
Total HP consolidated earnings (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
before taxes | $ | 1,821 | $ | 1,979 | $ | (9,057 | ) | $ | (6,676 | ) | $ | (11,933 | ) | $ | 1,821 | $ | 1,979 | $ | (9,057 | ) | $ | (6,676 | ) | $ | (11,933 | ) | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||||||
(a) | Effective at the beginning of its first quarter of fiscal 2014, HP implemented certain organizational changes to align its segment financial reporting more closely with its current business structure. These organizational changes include (i) transferring the HP Exstream business from the Commercial Hardware business unit within the Printing segment to the Software segment; (ii) transferring the Personal Systems trade and warranty support business from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment; and (iii) transferring the spare and replacement parts business supporting the Personal Systems and Printing segments from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment and the Commercial Hardware business unit within the Printing segment, respectively. In addition, HP transferred certain intrasegment eliminations from the Enterprise Services segment and the Enterprise Group segment to corporate intersegment revenue eliminations. HP reflected these changes to its segment information in prior reporting periods on an as-if basis, which resulted in the transfer of revenue among the Personal Systems, Printing, the Enterprise Group, Enterprise Services and Software segments. These changes also resulted in the transfer of operating profit among the Personal Systems, Printing, the Enterprise Group and Software segments. These changes had no impact on HP’s previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. |
Page 2 of 6
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES | |||||||||||||||||||||||||||||||
FISCAL 2013 SEGMENT INFORMATION (Revised) | |||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||
REVISED AMOUNTS | AMOUNTS AS PREVIOUSLY REPORTED | CHANGE | |||||||||||||||||||||||||||||
Three months ended | Twelve months ended | Three months ended | Twelve months ended | Three months ended | Twelve months ended | ||||||||||||||||||||||||||
Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | |||||||||||||||||
Segment operating margin: (a) | |||||||||||||||||||||||||||||||
Personal Systems | 2.8% | 3.2% | 3.1% | 3.1% | 3.0% | 2.7% | 3.2% | 3.0% | 3.0% | 3.0% | 0.1 pts | - | 0.1 pts | 0.1 pts | - | ||||||||||||||||
Printing | 16.3% | 15.9% | 15.8% | 17.9% | 16.5% | 16.1% | 15.8% | 15.6% | 17.7% | 16.3% | 0.2 pts | 0.1 pts | 0.2 pts | 0.2 pts | 0.2 pts | ||||||||||||||||
Printing and Personal Systems | |||||||||||||||||||||||||||||||
Group | 8.5% | 8.9% | 8.5% | 9.2% | 8.8% | 8.3% | 8.8% | 8.4% | 9.1% | 8.7% | 0.2 pts | 0.1 pts | 0.1 pts | 0.1 pts | 0.1 pts | ||||||||||||||||
Enterprise Group | 15.4% | 15.8% | 15.1% | 14.4% | 15.2% | 15.5% | 15.9% | 15.2% | 14.5% | 15.3% | (0.1 pts) | (0.1 pts) | (0.1 pts) | (0.1 pts) | (0.1 pts) | ||||||||||||||||
Enterprise Services | 1.3% | 2.5% | 3.2% | 4.3% | 2.8% | 1.3% | 2.6% | 3.3% | 4.4% | 2.9% | - | (0.1 pts) | (0.1 pts) | (0.1 pts) | (0.1 pts) | ||||||||||||||||
Software | 16.3% | 18.6% | 20.1% | 30.2% | 21.6% | 17.0% | 19.1% | 20.5% | 30.8% | 22.1% | (0.7 pts) | (0.5 pts) | (0.4 pts) | (0.6 pts) | (0.5 pts) | ||||||||||||||||
HP Financial Services | 10.6% | 11.0% | 11.3% | 11.2% | 11.0% | 10.6% | 11.0% | 11.3% | 11.2% | 11.0% | - | - | - | - | - | ||||||||||||||||
Corporate Investments | NM | NM | NM | NM | NM | NM | NM | NM | NM | NM | NM | (190.0 pts) | NM | NM | NM | ||||||||||||||||
(a) | Effective at the beginning of its first quarter of fiscal 2014, HP implemented certain organizational changes to align its segment financial reporting more closely with its current business structure. These organizational changes include (i) transferring the HP Exstream business from the Commercial Hardware business unit within the Printing segment to the Software segment; (ii) transferring the Personal Systems trade and warranty support business from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment; (iii) transferring the spare and replacement parts business supporting the Personal Systems and Printing segments from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment and the Commercial Hardware business unit within the Printing segment, respectively; and (iv) transferring certain cloud-related incubation activities previously reported in Corporate and unallocated costs and eliminations and in the Enterprise Group segment to the Corporate Investments segment. In addition, HP transferred certain intrasegment eliminations from the Enterprise Services segment and the Enterprise Group segment to corporate intersegment revenue eliminations. HP reflected these changes to its segment information in prior reporting periods on an as-if basis, which resulted in the transfer of revenue among the Personal Systems, Printing, the Enterprise Group, Enterprise Services and Software segments. These changes also resulted in the transfer of operating profit among the Personal Systems, Printing, the Enterprise Group, Software and Corporate Investments segments. These changes had no impact on HP’s previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. |
Page 3 of 6
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES | |||||||||||||||||||||||||||||||
FISCAL 2012 SEGMENT INFORMATION (Revised) | |||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||
REVISED AMOUNTS | AMOUNTS AS PREVIOUSLY REPORTED | CHANGE | |||||||||||||||||||||||||||||
Three months ended | Twelve months ended | Three months ended | Twelve months ended | Three months ended | Twelve months ended | ||||||||||||||||||||||||||
Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | |||||||||||||||||
Segment operating margin: (a) | |||||||||||||||||||||||||||||||
Personal Systems | 5.3% | 5.5% | 4.8% | 3.6% | 4.8% | 5.2% | 5.4% | 4.7% | 3.5% | 4.7% | 0.1 pts | 0.1 pts | 0.1 pts | 0.1 pts | 0.1 pts | ||||||||||||||||
Printing | 12.3% | 13.3% | 15.9% | 17.5% | 14.7% | 12.2% | 13.2% | 15.8% | 17.5% | 14.6% | 0.1 pts | 0.1 pts | 0.1 pts | - | 0.1 pts | ||||||||||||||||
Printing and Personal Systems | |||||||||||||||||||||||||||||||
Group | 8.2% | 8.6% | 9.4% | 9.3% | 8.8% | 8.1% | 8.5% | 9.2% | 9.3% | 8.8% | 0.1 pts | 0.1 pts | 0.2 pts | - | - | ||||||||||||||||
Enterprise Group | 18.1% | 17.8% | 16.9% | 16.4% | 17.3% | 18.3% | 17.9% | 17.1% | 16.5% | 17.4% | (0.2 pts) | (0.1 pts) | (0.2 pts) | (0.1 pts) | (0.1 pts) | ||||||||||||||||
Enterprise Services | 2.3% | 3.6% | 3.7% | 6.5% | 4.0% | 2.3% | 3.7% | 3.8% | 6.7% | 4.1% | - | (0.1 pts) | (0.1 pts) | (0.2 pts) | (0.1 pts) | ||||||||||||||||
Software | 16.7% | 17.3% | 17.5% | 27.1% | 20.0% | 17.1% | 17.7% | 18.0% | 27.2% | 20.4% | (0.4 pts) | (0.4 pts) | (0.5 pts) | (0.1 pts) | (0.4 pts) | ||||||||||||||||
HP Financial Services | 9.6% | 9.9% | 10.4% | 10.8% | 10.2% | 9.6% | 9.9% | 10.4% | 10.8% | 10.2% | - | - | - | - | - | ||||||||||||||||
Corporate Investments | (166.7%) | NM | NM | NM | NM | (166.7%) | NM | NM | NM | NM | - | - | - | - | - | ||||||||||||||||
(a) | Effective at the beginning of its first quarter of fiscal 2014, HP implemented certain organizational changes to align its segment financial reporting more closely with its current business structure. These organizational changes include (i) transferring the HP Exstream business from the Commercial Hardware business unit within the Printing segment to the Software segment; (ii) transferring the Personal Systems trade and warranty support business from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment; and (iii) transferring the spare and replacement parts business supporting the Personal Systems and Printing segments from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment and the Commercial Hardware business unit within the Printing segment, respectively. In addition, HP transferred certain intrasegment eliminations from the Enterprise Services segment and the Enterprise Group segment to corporate intersegment revenue eliminations. HP reflected these changes to its segment information in prior reporting periods on an as-if basis, which resulted in the transfer of revenue among the Personal Systems, Printing, the Enterprise Group, Enterprise Services and Software segments. These changes also resulted in the transfer of operating profit among the Personal Systems, Printing, the Enterprise Group and Software segments. These changes had no impact on HP’s previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. |
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FISCAL 2013 SEGMENT / BUSINESS UNIT INFORMATION (Revised) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
REVISED AMOUNTS | AMOUNTS AS PREVIOUSLY REPORTED | CHANGE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Twelve months ended | Three months ended | Twelve months ended | Three months ended | Twelve months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jul. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Net revenue: (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Printing and Personal Systems Group | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Systems | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notebooks | $ | 4,128 | $ | 3,718 | $ | 3,722 | $ | 4,461 | $ | 16,029 | $ | 4,128 | $ | 3,718 | $ | 3,722 | $ | 4,461 | $ | 16,029 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||||||
Desktops | 3,321 | 3,103 | 3,147 | 3,273 | 12,844 | 3,321 | 3,103 | 3,147 | 3,273 | 12,844 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Workstations | 535 | 521 | 537 | 554 | 2,147 | 535 | 521 | 537 | 554 | 2,147 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Other | 248 | 268 | 327 | 316 | 1,159 | 220 | 242 | 298 | 291 | 1,051 | 28 | 26 | 29 | 25 | 108 | |||||||||||||||||||||||||||||||||||||||||||||
Total Personal Systems | 8,232 | 7,610 | 7,733 | 8,604 | 32,179 | 8,204 | 7,584 | 7,704 | 8,579 | 32,071 | 28 | 26 | 29 | 25 | 108 | |||||||||||||||||||||||||||||||||||||||||||||
Printing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplies | 3,893 | 4,122 | 3,839 | 3,862 | 15,716 | 3,893 | 4,122 | 3,839 | 3,862 | 15,716 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Hardware | 1,374 | 1,411 | 1,405 | 1,554 | 5,744 | 1,354 | 1,398 | 1,399 | 1,551 | 5,702 | 20 | 13 | 6 | 3 | 42 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer Hardware | 679 | 561 | 565 | 631 | 2,436 | 679 | 561 | 565 | 631 | 2,436 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total Printing | 5,946 | 6,094 | 5,809 | 6,047 | 23,896 | 5,926 | 6,081 | 5,803 | 6,044 | 23,854 | 20 | 13 | 6 | 3 | 42 | |||||||||||||||||||||||||||||||||||||||||||||
Total Printing and Personal | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Systems Group | 14,178 | 13,704 | 13,542 | 14,651 | 56,075 | 14,130 | 13,665 | 13,507 | 14,623 | 55,925 | 48 | 39 | 35 | 28 | 150 | |||||||||||||||||||||||||||||||||||||||||||||
Enterprise Group | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry Standard Servers | 2,994 | 2,806 | 2,851 | 3,451 | 12,102 | 2,994 | 2,806 | 2,851 | 3,451 | 12,102 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Technology Services | 2,207 | 2,247 | 2,152 | 2,182 | 8,788 | 2,243 | 2,272 | 2,174 | 2,201 | 8,890 | (36 | ) | (25 | ) | (22 | ) | (19 | ) | (102 | ) | ||||||||||||||||||||||||||||||||||||||||
Storage | 833 | 857 | 833 | 952 | 3,475 | 833 | 857 | 833 | 952 | 3,475 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Networking | 608 | 618 | 644 | 656 | 2,526 | 608 | 618 | 644 | 656 | 2,526 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Business Critical Systems | 306 | 266 | 284 | 334 | 1,190 | 306 | 266 | 284 | 334 | 1,190 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total Enterprise Group | 6,948 | 6,794 | 6,764 | 7,575 | 28,081 | 6,984 | 6,819 | 6,786 | 7,594 | 28,183 | (36 | ) | (25 | ) | (22 | ) | (19 | ) | (102 | ) | ||||||||||||||||||||||||||||||||||||||||
Enterprise Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Infrastructure Technology Outsourcing | 3,855 | 3,855 | 3,791 | 3,722 | 15,223 | 3,736 | 3,721 | 3,662 | 3,563 | 14,682 | 119 | 134 | 129 | 159 | 541 | |||||||||||||||||||||||||||||||||||||||||||||
Application and Business Services | 2,183 | 2,278 | 2,181 | 2,196 | 8,838 | 2,183 | 2,278 | 2,181 | 2,196 | 8,838 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total Enterprise Services | 6,038 | 6,133 | 5,972 | 5,918 | 24,061 | 5,919 | 5,999 | 5,843 | 5,759 | 23,520 | 119 | 134 | 129 | 159 | 541 | |||||||||||||||||||||||||||||||||||||||||||||
Software | 951 | 967 | 1,010 | 1,093 | 4,021 | 926 | 941 | 982 | 1,064 | 3,913 | 25 | 26 | 28 | 29 | 108 | |||||||||||||||||||||||||||||||||||||||||||||
HP Financial Services | 957 | 881 | 879 | 912 | 3,629 | 957 | 881 | 879 | 912 | 3,629 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Corporate Investments | 4 | 10 | 5 | 5 | 24 | 4 | 10 | 5 | 5 | 24 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total segments | 29,076 | 28,489 | 28,172 | 30,154 | 115,891 | 28,920 | 28,315 | 28,002 | 29,957 | 115,194 | 156 | 174 | 170 | 197 | 697 | |||||||||||||||||||||||||||||||||||||||||||||
Elimination of intersegment net revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
and other | (717 | ) | (907 | ) | (946 | ) | (1,023 | ) | (3,593 | ) | (561 | ) | (733 | ) | (776 | ) | (826 | ) | (2,896 | ) | (156 | ) | (174 | ) | (170 | ) | (197 | ) | (697 | ) | ||||||||||||||||||||||||||||||
Total HP consolidated net revenue | $ | 28,359 | $ | 27,582 | $ | 27,226 | $ | 29,131 | $ | 112,298 | $ | 28,359 | $ | 27,582 | $ | 27,226 | $ | 29,131 | $ | 112,298 | $ | - | $ | - | $ | - | $ | - | $ | - |
(a) | Effective at the beginning of its first quarter of fiscal 2014, HP implemented certain organizational changes to align its segment financial reporting more closely with its current business structure. These organizational changes include (i) transferring the HP Exstream business from the Commercial Hardware business unit within the Printing segment to the Software segment; (ii) transferring the Personal Systems trade and warranty support business from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment; (iii) transferring the spare and replacement parts business supporting the Personal Systems and Printing segments from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment and the Commercial Hardware business unit within the Printing segment, respectively; and (iv) transferring certain cloud-related incubation activities previously reported in Corporate and unallocated costs and eliminations and in the Enterprise Group segment to the Corporate Investments segment. In addition, HP transferred certain intrasegment eliminations from the Enterprise Services segment and the Enterprise Group segment to corporate intersegment revenue eliminations. HP reflected these changes to its segment information in prior reporting periods on an as-if basis, which resulted in the transfer of revenue among the Personal Systems, Printing, the Enterprise Group, Enterprise Services and Software segments. These changes had no impact on HP’s previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. |
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FISCAL 2012 SEGMENT / BUSINESS UNIT INFORMATION (Revised) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
REVISED AMOUNTS | AMOUNTS AS PREVIOUSLY REPORTED | CHANGE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Twelve months ended | Three months ended | Twelve months ended | Three months ended | Twelve months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Jan. 31, 2012 | Apr. 30, 2012 | Jul. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Net revenue: (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Printing and Personal Systems Group | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Systems | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notebooks | $ | 4,942 | $ | 4,900 | $ | 4,416 | $ | 4,572 | $ | 18,830 | $ | 4,942 | $ | 4,900 | $ | 4,416 | $ | 4,572 | $ | 18,830 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||||||
Desktops | 3,206 | 3,827 | 3,486 | 3,369 | 13,888 | 3,206 | 3,827 | 3,486 | 3,369 | 13,888 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Workstations | 535 | 537 | 526 | 550 | 2,148 | 535 | 537 | 526 | 550 | 2,148 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Other | 241 | 235 | 239 | 262 | 977 | 209 | 206 | 208 | 236 | 859 | 32 | 29 | 31 | 26 | 118 | |||||||||||||||||||||||||||||||||||||||||||||
Total Personal Systems | 8,924 | 9,499 | 8,667 | 8,753 | 35,843 | 8,892 | 9,470 | 8,636 | 8,727 | 35,725 | 32 | 29 | 31 | 26 | 118 | |||||||||||||||||||||||||||||||||||||||||||||
Printing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplies | 4,079 | 4,060 | 4,005 | 4,007 | 16,151 | 4,079 | 4,060 | 4,005 | 4,007 | 16,151 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Hardware | 1,500 | 1,489 | 1,466 | 1,491 | 5,946 | 1,489 | 1,479 | 1,445 | 1,482 | 5,895 | 11 | 10 | 21 | 9 | 51 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer Hardware | 690 | 593 | 567 | 591 | 2,441 | 690 | 593 | 567 | 591 | 2,441 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total Printing | 6,269 | 6,142 | 6,038 | 6,089 | 24,538 | 6,258 | 6,132 | 6,017 | 6,080 | 24,487 | 11 | 10 | 21 | 9 | 51 | |||||||||||||||||||||||||||||||||||||||||||||
Total Printing and Personal | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Systems Group | 15,193 | 15,641 | 14,705 | 14,842 | 60,381 | 15,150 | 15,602 | 14,653 | 14,807 | 60,212 | 43 | 39 | 52 | 35 | 169 | |||||||||||||||||||||||||||||||||||||||||||||
Enterprise Group | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry Standard Servers | 3,072 | 3,186 | 3,187 | 3,137 | 12,582 | 3,072 | 3,186 | 3,187 | 3,137 | 12,582 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Technology Services | 2,225 | 2,307 | 2,311 | 2,309 | 9,152 | 2,264 | 2,335 | 2,349 | 2,340 | 9,288 | (39 | ) | (28 | ) | (38 | ) | (31 | ) | (136 | ) | ||||||||||||||||||||||||||||||||||||||||
Storage | 955 | 990 | 924 | 946 | 3,815 | 955 | 990 | 924 | 946 | 3,815 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Networking | 586 | 614 | 647 | 635 | 2,482 | 586 | 614 | 647 | 635 | 2,482 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Business Critical Systems | 405 | 421 | 385 | 401 | 1,612 | 405 | 421 | 385 | 401 | 1,612 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total Enterprise Group | 7,243 | 7,518 | 7,454 | 7,428 | 29,643 | 7,282 | 7,546 | 7,492 | 7,459 | 29,779 | (39 | ) | (28 | ) | (38 | ) | (31 | ) | (136 | ) | ||||||||||||||||||||||||||||||||||||||||
Enterprise Services | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Infrastructure Technology Outsourcing | 4,051 | 4,054 | 4,038 | 4,033 | 16,176 | 3,980 | 3,954 | 3,934 | 3,924 | 15,792 | 71 | 100 | 104 | 109 | 384 | |||||||||||||||||||||||||||||||||||||||||||||
Application and Business Services | 2,391 | 2,535 | 2,463 | 2,428 | 9,817 | 2,391 | 2,535 | 2,463 | 2,428 | 9,817 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total Enterprise Services | 6,442 | 6,589 | 6,501 | 6,461 | 25,993 | 6,371 | 6,489 | 6,397 | 6,352 | 25,609 | 71 | 100 | 104 | 109 | 384 | |||||||||||||||||||||||||||||||||||||||||||||
Software | 970 | 996 | 999 | 1,206 | 4,171 | 946 | 970 | 973 | 1,171 | 4,060 | 24 | 26 | 26 | 35 | 111 | |||||||||||||||||||||||||||||||||||||||||||||
HP Financial Services | 950 | 968 | 935 | 966 | 3,819 | 950 | 968 | 935 | 966 | 3,819 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Corporate Investments | 30 | 7 | 11 | 10 | 58 | 30 | 7 | 11 | 10 | 58 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total segments | 30,828 | 31,719 | 30,605 | 30,913 | 124,065 | 30,729 | 31,582 | 30,461 | 30,765 | 123,537 | 99 | 137 | 144 | 148 | 528 | |||||||||||||||||||||||||||||||||||||||||||||
Elimination of intersegment net revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
and other | (792 | ) | (1,026 | ) | (936 | ) | (954 | ) | (3,708 | ) | (693 | ) | (889 | ) | (792 | ) | (806 | ) | (3,180 | ) | (99 | ) | (137 | ) | (144 | ) | (148 | ) | (528 | ) | ||||||||||||||||||||||||||||||
Total HP consolidated net revenue | $ | 30,036 | $ | 30,693 | $ | 29,669 | $ | 29,959 | $ | 120,357 | $ | 30,036 | $ | 30,693 | $ | 29,669 | $ | 29,959 | $ | 120,357 | $ | - | $ | - | $ | - | $ | - | $ | - |
(a) | Effective at the beginning of its first quarter of fiscal 2014, HP implemented certain organizational changes to align its segment financial reporting more closely with its current business structure. These organizational changes include (i) transferring the HP Exstream business from the Commercial Hardware business unit within the Printing segment to the Software segment; (ii) transferring the Personal Systems trade and warranty support business from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment; and (iii) transferring the spare and replacement parts business supporting the Personal Systems and Printing segments from the Technology Services business unit within the Enterprise Group segment to the Other business unit within the Personal Systems segment and the Commercial Hardware business unit within the Printing segment, respectively. In addition, HP transferred certain intrasegment eliminations from the Enterprise Services segment and the Enterprise Group segment to corporate intersegment revenue eliminations. HP reflected these changes to its segment information in prior reporting periods on an as-if basis, which resulted in the transfer of revenue among the Personal Systems, Printing, the Enterprise Group, Enterprise Services and Software segments. These changes had no impact on HP’s previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. |
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