HP Inc. Reports Fiscal 2019 Third Quarter Results

(b) Pursuant to adoption of ASU 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost”, in the first quarter of fiscal year 2019, HP now reclassifies all components (excluding service cost component) of net periodic benefit cost from Selling, general and administrative expenses to Interest and other, net. HP reflected this change in prior reporting periods on an as-if basis.


HP INC. AND SUBSIDIARIES
SEGMENT/BUSINESS UNIT INFORMATION
(Unaudited)
(In millions)

  Three months ended  Change (%)
  July 31, 2019  April 30, 2019  July 31, 2018  Q/Q  Y/Y
Net revenue:(a)         
Personal Systems         
Notebooks$5,630  $5,099  $5,634  10% %
Desktops3,111  2,940  2,869  6% 8%
Workstations609  569  588  7% 4%
Other340  313  304  9% 12%
Total Personal Systems9,690  8,921  9,395  9% 3%
Printing            
Supplies 3,164     3,331     3,405     (5 )%   (7 )%
Commercial Hardware 1,160     1,179     1,129     (2 )%   3 %
Consumer Hardware 588     606     654     (3 )%   (10 )%
Total Printing 4,912     5,116     5,188     (4 )%   (5 )%
Corporate Investments (b) 1         1     NM     NM  
Total segments 14,603     14,037     14,584     4 %   %
Other (b)     (1 )   2     NM     NM  
Total net revenue $ 14,603     $ 14,036     $ 14,586     4 %   %

(a) Effective at the beginning of its first quarter of fiscal year 2019, HP implemented an organizational change to align its business unit financial reporting more closely with its current business structure. The organizational change resulted in the transfer of certain Samsung-branded product categories 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. The reporting change had no impact to previously reported segment net revenue, consolidated net revenue, earnings from operations, net earnings or net EPS. 

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