Net Earnings Per Share

3 Months Ended

Jan. 31, 2022

Earnings Per Share [Abstract]

Net Earnings Per Share

Net Earnings Per Share

HP calculates basic net EPS using net earnings and the weighted-average number of shares outstanding during the reporting period. Diluted net EPS includes any dilutive effect of restricted stock units, stock options, performance-based awards and shares purchased under the 2021 employee stock purchase plan.

A reconciliation of the number of shares used for basic and diluted net EPS calculations is as follows:

	Three months ended January 31
	2022		2021
	In millions, except per share amounts
Numerator:
Net earnings	$	1,086	$	1,068
Denominator:
Weighted-average shares used to compute basic net EPS	1,081		1,285
Dilutive effect of employee stock plans	13		8
Weighted-average shares used to compute diluted net EPS	1,094		1,293
Net earnings per share:
Basic	$	1.00	$	0.83
Diluted	$	0.99	$	0.83
Anti-dilutive weighted-average stock-based compensation awards(1)	3		4

(1)HP excludes from the calculation of diluted net EPS stock options and restricted stock units where the assumed proceeds exceed the average market price, because their effect would be anti-dilutive. The assumed proceeds of a stock option include the sum of its exercise price, and average unrecognized compensation cost. The assumed proceeds of a restricted stock unit represent unrecognized compensation cost.