(b) For the three months ended October 31, 2018, this amount primarily includes $1.3 billion expense as a result of the impact of U.S. tax reform.
For the three months ended October 31, 2017, this amount primarily includes the income tax benefit related to U.S. foreign tax credits generated in connection with the spin-off of the enterprise services business, Everett SpinCo Inc. ("Everett Transaction") and the software business, Seattle SpinCo, Inc, ("Seattle Transaction").
|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) (In millions, except per share amounts) | |||||||
| Twelve months ended October 31, | |||||||
| 2018 | 2017 | ||||||
| Net revenue | $ | 30,852 | $ | 28,871 | |||
| Costs and expenses: | |||||||
| Cost of sales | 21,560 | 20,177 | |||||
| Research and development | 1,663 | 1,486 | |||||
| Selling, general and administrative | 4,851 | 5,006 | |||||
| Amortization of intangible assets | 294 | 321 | |||||
| Impairment of goodwill | 88 | — | |||||
| Restructuring charges | 19 | 417 | |||||
| Transformation costs | 425 | 359 | |||||
| Disaster Charges | — | 93 | |||||
| Acquisition and other related charges | 82 | 203 | |||||
| Separation costs | 12 | 248 | |||||
| Defined benefit plan settlement charges and remeasurement (benefit) | — | (64 | ) | ||||
| Total costs and expenses | 28,994 | 28,246 | |||||
| Earnings from continuing operations | 1,858 | 625 | |||||
| Interest and other, net | (274 | ) | (327 | ) | |||
| Tax indemnification adjustments(a) | (1,354 | ) | (3 | ) | |||
| Earnings (loss) from equity interests | 38 | (23 | ) | ||||
| Earnings from continuing operations before taxes | 268 | 272 | |||||
| Benefit for taxes(b) | 1,744 | 164 | |||||
| Net earnings from continuing operations | 2,012 | 436 | |||||
| Net loss from discontinued operations | (104 | ) | (92 | ) | |||
| Net earnings | $ | 1,908 | $ | 344 | |||
| Net earnings (loss) per share: | |||||||
| Basic | |||||||
| Continuing operations | $ | 1.32 | $ | 0.26 | |||
| Discontinued operations | (0.07 | ) | (0.05 | ) | |||
| Total basic net earnings per share | $ | 1.25 | $ | 0.21 | |||
| Diluted | |||||||
| Continuing operations | $ | 1.30 | $ | 0.26 | |||
| Discontinued operations | (0.07 | ) | (0.05 | ) | |||
| Total diluted net earnings per share | $ | 1.23 | $ | 0.21 | |||
| Cash dividends declared per share | $ | 0.4875 | $ | 0.2600 | |||
| Weighted-average shares used to compute net earnings (loss) per share: | |||||||
| Basic | 1,529 | 1,646 | |||||
| Diluted | 1,553 | 1,674 | |||||
