HEWLETT-PACKARD COMPANY AND SUBSIDIARIES                  
                CALCULATION OF DILUTED NET EARNINGS PER SHARE               
                                 (Unaudited)                                
                   (In millions except per share amounts)                   
                                                                            
                                                         Six months ended   
                                                            April 30,       
                                                     -----------------------
                                                         2014        2013   
                                                     ----------- -----------
                                                                            
Numerator:                                                                  
  GAAP net earnings                                  $     2,698 $     2,309
                                                     =========== ===========
  Non-GAAP net earnings                              $     3,433 $     3,303
                                                     =========== ===========
                                                                            
Denominator:                                                                
  Weighted-average number of shares outstanding                             
   during the reporting period                             1,898       1,944
  Dilutive effect of employee stock plans(a)                  24           8
                                                     ----------- -----------
    Weighted-average number of shares used to                               
     compute diluted net earnings per share                1,922       1,952
                                                     =========== ===========
                                                                            
GAAP diluted net  earnings  per  share                                    $            1.40  $            1.18
                                                                                                          ===========  ===========
Non-GAAP  diluted  net  earnings  per  share                            $            1.79  $            1.69
                                                                                                          ===========  ===========
                                                                                                                                                        
(a)    Includes  any  dilutive  effect  of  outstanding  stock  options,  performance-
          based  restricted  stock  units,  restricted  stock  units  and  restricted        
          stock.