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  • Q1 FY10 GAAP to non-GAAP BRIDGE
  • Q2 FY09 GAAP to non-GAAP BRIDGE
  • Q3 FY08 GAAP to non-GAAP BRIDGE
  • Q4 FY07 GAAP to non-GAAP BRIDGE

HP Q3 FY10 Earnings 10 Announcement

August 19, 2010 http://www.hp.com/investor/home p p
August 19, 2010 http://www.hp.com/investor/home

FORWARD LOOKING STATEMENTS
This presentation may contain forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections of revenue, margins, expenses, earnings, tax provisions, cash flows, benefit obligations, share repurchases, currency exchange rates, the impact of acquisitions or other financial items; any statements of the plans, strategies and objectives of management for future operations, including execution of cost reduction programs and restructuring plans; any statements concerning the expected development, performance or market share relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; execution and performance of contracts by HP and its suppliers, customers and partners; the challenge of managing asset levels, including y y g g p g p pension and inventory; the difficulty of aligning expense levels with revenue changes; assumptions related to p other post-retirement costs; expectations and assumptions relating to the execution and timing of cost reduction programs and restructuring plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2009 and HP’s other filings with the Securities and Exchange Commission, including HP’s Quarterly Report on Form 10-Q for q p , p periods, the financial information set forth in this release, , , the fiscal quarter ended April 30, 2010. As in prior p including tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be meaningful, these amounts could differ materially from actual reported amounts in HP’s Form 10-Q for the fiscal quarter ended July 31, 2010. In particular, determining HP’s actual tax balances and provisions as of July 31, 2010 requires extensive internal and external review of tax data (including g g provisions of numerous domestic and foreign entities), which is being g ), g consolidating and reviewing the tax p completed in the ordinary course of preparing HP’s Form 10-Q. HP assumes no obligation and does not intend to update these forward-looking statements.
2 August 19, 2010 http://www.hp.com/investor/home

USE OF NON-GAAP FINANCIAL INFORMATION
HP has included non-GAAP financial measures in this presentation to supplement HP’s consolidated condensed financial statements presented on a GAAP basis. Definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included elsewhere in this presentation. HP s HP’s management uses non GAAP operating expense, non GAAP OI&E, non-GAAP operating profit, non GAAP net earnings, nonnon-GAAP expense non-GAAP OI&E non GAAP profit non-GAAP earnings non GAAP diluted earnings per share, and HP’s non-GAAP tax rate to evaluate and forecast HP’s performance before gains, losses or other charges that are considered by HP’s management to be outside of HP’s core business segment operating results. Gross cash, net cash and free cash flow are liquidity measures that provide useful information to management about the amount of cash available for investment in HP’s businesses, funding strategic acquisitions, repurchasing stock and other purposes. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of HP’s results as reported under GAAP. Items such as amortization of purchased intangible assets, though not directly affecting HP’s cash position, represent the loss in value of intangible assets over time. The expense associated with this loss in value is not included in non-GAAP operating profit, non-GAAP net earnings, non-GAAP diluted earnings per share and HP’s non-GAAP tax rate and therefore does not reflect the full economic effect of the loss in value of those intangible assets. In addition, items such as restructuring charges that are excluded from non-GAAP operating expense, non-GAAP operating profit, non-GAAP net earnings, non-GAAP diluted earnings per share and HP’s non-GAAP tax rate can have a material impact on cash flows and earnings per share HP may not be able to liquidate the long-term investments included in gross cash immediately share. immediately, which may limit the usefulness of gross cash as a liquidity measure. In addition, free cash flow does not represent the total increase or decrease in the cash balance for the period. The non-GAAP financial information that we provide also may differ from the nonGAAP information provided by other companies. We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We also provide robust and detailed reconciliations of each non-GAAP financial measure to the most directly comparable GAAP measure, and we encourage investors to review carefully h GAAP fi i l t th t di tl bl d i t t i f ll those reconciliations. We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency to the information used by HP’s management in its financial and operational decision-making and allows investors to see HP’s results “through the eyes” of management. We further believe that providing this information better enables investors to understand HP’s operating performance and to evaluate the efficacy of the methodology and information used by HP s management to evaluate and measure such performance.

3

August 19, 2010

http://www.hp.com/investor/home

KEY MESSAGES
Strong quarter with profitable revenue growth and broad-based execution
Net revenue of $30.7 billion, up 11% year over year, with approximately one point of benefit from currency, the highest local currency revenue growth since Q408 Non-GAAP operating margin improvement of 30 bps year over year; GAAP operating margin decline of 40 bps year over year Solid performance across regions and segments

HP executing its strategy, leveraging scale and global reach to extend market leadership
Continuing to enhance portfolio both organically and inorganically Transformational initiatives on track with significant opportunity remaining (supply chain, sales coverage, etc) Continuing to deploy capital for organic investments, M&A and share buybacks

Leading product portfolio across hardware, software and services
Winning data center and converged infrastructure strategy with solid growth led by ISS (+31% year over year) HP Networking gains momentum with 42% ProCurve growth and 3Com revenues ahead of plan Record services signings d i R d i i i driven b strong renewals by t l

IPG on the attack
Supplies growth of 5% g printer hardware with total units up 16% and commercial p p printer units up 44% p Share gains in p Biggest consumer launch in years including web-connected printers and e-print

4

August 19, 2010

http://www.hp.com/investor/home

9% 12.431 (1) .098 $469 $1.2% (1) OP $ Y/Y $64 $168 $30 $262 $82 $80 $19 $418(1) OP % Y/Y 0. Q3 Revenue $8.729 .9% 9.918 $9 918 $6. up 17% Y/Y –GAAP diluted EPS of $0. up 9% Y/Y –Cash flow from operations of $3.6 pts 2.921 $9.1 pts 0.1 pts 1.com/investor/home .1% 4.75.449 $863 $13. OP % of rev 15.3B Cash $3 3B –$2. up 11% Y/Y.7% 4 7% 16. 2010 http://www. Growth Y/Y% 1% 19% 2% 6% 17% 9% 14% 11% OP $ $1. A reconciliation of specific adjustments to GAAP results for this quarter and prior periods is included on slide 17 and in the GAAP to non-GAAP slides that appear as part of the supplemental slides of this presentation.609 $4. A description of HP’s use of non-GAAP information is provided on slide 3 under “Use of non-GAAP Financial Information.040 $72 $3.3% 21.hp.7B.6B in share repurchases and $205M in dividends $ in millions Services Enterprise Storage and Servers HP Software Enterprise Business Personal S t P l Systems Group G Imaging and Printing Group HP Financial Services Total HP (2) 1.Q3 FY10 RESULTS OVERVIEW Financial Summary –Net revenue of $30.08.5 pts 0.” Includes Corporate Investments & Eliminations August 19. currency benefit of ~1pt –Non-GAAP(1) diluted EPS of $1.1)pts 1.2% 15.366 $549 $183 $2. 5 All non-GAAP numbers have been adjusted to exclude certain items.167 $764 $30.4% 11.1 pts 3.3 pts (1) 2.1 t 0 1 pts (0.

2010 http://www.S. up 9% Y/Y Personal P l Systems Group 32% Enterprise Storage & Servers 14% HP Financial Services & Other 3% Canada/ Latin America 9% Asia Pacific 18%.Q3 FY10 REVENUE By Segment By Region Imaging & Printing Group 20% U.hp. 37% Services S i 28% Americas 46%. 18% up 14% Y/Y HP Software & Solutions 3% 6 August 19. up 12% Y/Y EMEA 36%.com/investor/home .

00 $0.30 $0.86 $1.5 $28.6 $30.10 $1 10 $1.92 $1.3 $28.8 $30.14 $1.0 $33.87 $0.86 $27.03 $0.80 $0.90 $0.3 $28.09 $1.20 $1.71 $0.07 $1.REVENUE & EPS PERFORMANCE $36 $34 $32 $30 $28 $26 $24 $22 $20 $18 $16 $14 $12 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $1.60 $0.com/investor/home . 2010 http://www.hp.08 7 August 19.86 $0.40 $0.8 $27.7 $0.2 $30.93 $0.6 $28.4 N on-GAAP EPS $0.8 $31.00 Revenue (in billions) $25.86 $0.70 $0.4 $28.10 $0 10 $0.50 $0.20 $0.

S.REGIONAL REVENUE TRENDS Americas $16 $14 $ in billions $12 $10 $8 $6 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 (including U.hp. 2010 http://www.com/investor/home Y/Y revenue growth % Y/Y constant currency revenue growth % .) United States 20% 15% 10% 5% 0% (5%) Y/ Y revenue growth % r $12 $10 $ in billions $8 $6 $4 $2 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 20% 15% 10% 5% 0% (5%) Y/ Y re evenue growth % Y/ Y revenue growth % g $15 $12 $ in billio ons $9 $6 $3 $0 EMEA 30% 20% 10% 0% (10%) (20%) Y/ Y revenue growth % $8 Asia Pacific 25% $6 $ in billio ons 15% $4 5% $2 (5%) $0 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 (15%) 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 8 August 19.

2% -3.0% -5.2% 8.2% 2.6% -8.8% 1.0% 5.hp.4% 10.REVENUE GROWTH 25% 20% Y/Y revenue gr Y rowth % 15% 10% 5% 0% (5%) (10%) 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 Constant currency 12.4% 9 August 19.9% 4.2% 4.9% 15.6% 4.7% 15. 2010 http://www.com/investor/home .2% 13.7% 10.4% 8.5% 10.4% 8.2% 11.2% 12.7% 11.5% 4.1% -1.5% 18.6% As reported 15.

600 $ . 2010 46% • BPO revenue up 1% Y/Y • Record signings due to strong renewals http://www.0 Revenue In millions Operating profit 18% 16% 14% 12% 10% 8% 6% 4% 2% 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $1.com/investor/home OP % revenue P .SERVICES In billions $10.0 $2.0 Q Q Q Q Q Q Q Q Q 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $0 Q3 FY10 revenue by business 9% IT O Technology Services Application Services BPO • Services revenue of $8.6B.hp.9% of revenue • ITO revenue up 1% Y/Y • Technology services revenue down 1% Y/Y • Application services revenue up 4% Y/Y 17% 28% 10 August 19. $1.0 $1. up 1% Y/Y • Operating profit of $1.400 $1.0 $600 $400 $200 $0.000 $800 $4.200 $8.0 $ $6. 15.4B.

12.com/investor/home • ESS revenue of $4.0 $3.0 $200 Revenue In millions $800 $700 $600 $500 $400 $300 Operating profit 16% 14% 12% 10% 8% 6% 4% 2% 0% O P % revenue $1.0 $5 0 $4.0 $2.0 $5. 2010 http://www.4B.3% of revenue • ISS revenue up 31% Y/Y • BCS revenue down 15% Y/Y • Storage revenue up 10% Y/Y.ENTERPRISE STORAGE & SERVERS (ESS) In billions $6.0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $100 $0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 Q3 FY10 revenue by business 20% Industry Standard Servers (ISS) Business Critical Systems (BCS) 11% 69% 11 August 19. up 19% Y/Y • Operating profit of $549M.0 $0.hp. mid-range Storage Works Division (SWD) storage arrays (EVA) down 3% • ESS Blades revenue up 29% Y/Y .

up 2% Y/Y • Operating profit of $183M. 2010 http://www.com/investor/home O P % revenue .HP SOFTWARE In millions $1. 21.hp.200 $1.000 $800 $150 15% Revenue In millions $250 Operating profit 25% $200 20% $600 $100 10% $400 $200 $0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $50 5% $0 0% 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 Q3 FY10 revenue by business 33% Business Technology Optimization Other Software • Software revenue of $863M.2% of revenue • B i Business Technology Optimization revenue T h l O ti i ti up 3% Y/Y • Other Software revenue down 1% Y/Y 67% 12 August 19.

4.0 $10. units up 19% Y/Y • Consumer client revenue up 12% Y/Y.0 $6.0 $10 0 $8.0 $0.7% of revenue • T t l units up 12% Y/Y Total it • Notebook revenue up 10%. 40% 13 August 19.com/investor/home . units up 8% Y/Y • Desktop revenue up 27%.9B.hp. 2010 53% Commercial client revenue up 25% Y/Y http://www.0 $200 $2. up 17% Y/Y • Operating profit of $469M.0 Revenue In millions Operating profit 7% 6% 5% 4% 3% 2% 1% 0% OP % revenue P $700 $600 $500 $400 $300 $4.0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $100 $0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 Q3 FY10 revenue by business 2% 5% Notebooks Desktops Workstations Other • PSG revenue of $9.PERSONAL SYSTEMS GROUP (PSG) In billions $12.

hp.0 Operating profit 22% $6.100.0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $500.2B.0 $1.0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 6% Q3 FY10 revenue by business 10% Supplies Commercial Consumer 23% • IPG revenue of $6.com/investor/home OP % of revenue . up 9% Y/Y • Operating profit of $1B.0 Revenue In millions $1. 67% Consumer printer hardware units up 9% Y/Y. 16.0 $700.0 14% $2.300. Commercial printer hardware units up 44% Y/Y • Color LaserJet units up 41% Y/Y • Printer-based MFP units up 47% Y/Y • Indigo digital press page volume up 22% Y/Y 14 August 19.0 10% $0.0 $900.9% of revenue • Supplies revenue up 5% Y/Y pp p • Total printer hardware units up16% Y/Y.IMAGING & PRINTING GROUP (IPG) In billions $8.0 18% $4. 2010 http://www.

com/investor/home O OP %revenue . up 13% Y/Y 29% 59% 15 August 19. 2010 http://www.HP FINANCIAL SERVICES (HPFS) In millions $800 Revenue In millions $75 Operating profit 10% $60 $600 8% $45 $400 6% $30 $200 4% $15 2% $0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 $0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 0% Q3 FY10 revenue by region 12% Americas EMEA Asia Pacific • HPFS revenue of $764M. up 14% Y/Y • Operating profit of $72M.hp.4% of revenue • Fi Financing volume up 3% Y/Y i l • Net portfolio assets of $10.5B. 9.

4% 10.896 3.2% 12.431 (134) 3.5% 10.2% Q2 FY10 $30.hp.9% 10.601 .786 3.575 $1.239 $0.585 21.2% 12. 2010 http://www. A reconciliation of specific adjustments to GAAP results for this quarter and prior periods is included on slide 17 and in the GAAP to non GAAP slides that appear as part of the supplemental slides of this presentation A description of HP s use of non GAAP information is non-GAAP presentation.9% 100% 76.6% 11.031 .541 3.5% 12. 3.Non-GAAP FINANCIAL INFORMATION In millions except per share amounts (1) Q3 FY10 $30.849 23.com/investor/home .09 8.” 16 August 19.3% 100% 76.013 (177) 2.633 $1.7% 100% 76.1% 10.08 8. net Pre-tax earnings Income tax Net Earnings EPS 1.297 722 2.9% Revenue Cost of sales Total OpEx Operating profit Interest & other. 3.836 597 2.2% Q3 FY09 $27. HP’s non-GAAP provided on slide 3 under “Use of non-GAAP Financial Information.92 8.371 738 2.3% 11. All non-GAAP numbers have been adjusted to exclude certain items.462 (91) 3. 3.729 23.402 .

08 .431 (134) 383 598 127 383 100 598 175 127 31 3.75 http://www.323 (134) 2. of Intangibles ReStructuring Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.297 722 21. net Pre-tax earnings Income tax Tax rate Net earnings EPS 17 August 19.575 $1.9% 2.Q3 FY10 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.0% 1.004 2.896 3.729 23.729 23.hp.402 (383) (598) (127) 3. 2010 $30.189 416 19.773 $0.402 5.com/investor/home $30.

1) $6. 18 Includes cash and cash equivalents.0) ($10 0) 3Q08 Gross cash N et cash (2) (3) (1) 4Q08 $10.0 $2.0) $5.0 $10. short-term investments.4) ($0.0 $6.7) ($1.4 ($2.hp.3 ($3.0 ($2. 3.7 ($3.0 $6 0 1Q10 $13. 1.0) ($10.7 $11 7 N et cash excl HPFS Debt excl.7 ($1.5) ($0 5) 1Q09 $11.9 $4. 2010 .0 $4 0 $14. and certain liquid long-term investments Net cash is defined as gross cash less total company debt including the effect of hedging Net cash excl HPFS debt = HP net cash plus HPFS net debt http://www.7) $4.0 $14.3 $4 3 4Q09 $13. 2.3 ($8.8 ($4.0) ($6.6 $5 6 3Q10 $14.8 $1 8 3Q09 $13.com/investor/home August 19.3) $1.6 $6 6 2Q10 $14.2) $4.GROSS CASH & NET CASH In billions $18.3 ($7.8) $6.8 $11.0 ($5.8) ($1 8) 2Q09 $13.

4 $9.0 $7.hp.0 $11.6 $14.0 $2.4 $10.4 $12.0 $12.0 FY06 FY07 FY08 Free cash flow ) (1 FY09 FY10 YTD Cash flow from operations 1.2 $6 2 $6.1 $6.8 $8.0 $14.2 $10.0 $9.0 $4.com/investor/home .0 $13.0 $0. Free cash flow = cash flow from operations less net capital expenditures 19 August 19.6 $8.CASH FLOW In billions $16. 2010 http://www.

0 100 $2 $0. See our Form 10-Q for the period ended January 31.6 4Q08 $1.5 271 (1 ) FY08 $9.7 billion in cash was used in Q1 FY06 to fully fund this plan.1 132 FY10 YTD $7. HP completed all repurchases under this plan in March 2007 and received a total of 53M shares 20 August 19.5 $10 250 $8 $2.0 200 $6 $1.2 2Q09 $0.com/investor/home .STOCK REPURCHASE Quarterly trends In billions $3. HP entered into a prepaid variable share purchase program.9 1Q09 $1. $1.8 3Q10 $2.hp.2 224 1.5 50 $0 FY06 $0.6 216 FY09 $5.8 3Q09 $1.9B $4 9B remaining in stock repurchase authorization at the end of Q3 FY10 In millions 300 $2.1 144 Stock repurchase Shares received $7. 2006 for more information.0 3Q08 Stock repurchase $1.0 FY06 – FY10 In billions $12 $4.5 150 $4 $1.6 (1) 0 FY07 $11.7 2Q10 $1. 2010 http://www. In Q1 FY06.0 4Q09 $2.1 1Q10 $2.

2010 http://www.51 $4 49 – $4 51 1. 21 August 19. 2.3B $125.27 $1 25 – $1 27 Full year FY10 guidance Revenue GAAP EPS ( Non-GAAP Non GAAP EPS(2)) $125. Full year FY10 non-GAAP diluted earnings per share estimates exclude after-tax costs of approximately $0. restructuring charges and acquisition-related charges.87 per share.05 $1.OUTLOOK Q4 FY10 guidance Revenue GAAP EPS Non-GAAP Non GAAP EPS(1) $32. related primarily to the amortization of purchased intangible assets.hp.7B $32 5B – $32 7B $1.64 $4. restructuring charges and acquisition related charges assets acquisition-related charges.22 per share. related primarily to the amortization of purchased intangible assets. Q4 FY10 non-GAAP diluted earnings per share estimates exclude after-tax costs of approximately $0.03 .$125 5 $3.62 – $3.49 $4.25 $1.$1.5B $32.5 $125 3B .com/investor/home .

2010 http://www.SUPPLEMENTAL SLIDES August 19.hp.com/investor/home .

8 14.9 5.3% 1Q09 $14.4 8.0 $16.7% 1Q09 $7.1 5.3% 3Q10 $15.4% 1Q10 $14.9% 3Q09 $5.0 $5.0 5.0% $6.6% 0.0 $16.6% 4Q09 $16.0% $7.0% 23 August 19.7 4.0% $0.4% 2Q09 $5.6 6.9 $6.7 $14.4% 3Q10 $7.7% 2Q10 $6.0% 4Q09 $6.0% $8.0% $4.0% $6.INVENTORY & ACCOUNTS RECEIVABLE Inventory In billions $9.0 $13.8 12.0% $3.0 4.9 $7.2 $16.7 $10.8% 4.1 9.5 12.0% $12.0% $ $4.0% $2.0 12.0 Receivables % of Rev 3Q08 $13.0 6.0% $7.0% $6.6 5.7 12.0 $6.2 5.0 6.5 $14.7 12.0% $14.2% 4Q08 $16.2% 4Q08 $7.0 Inventory e to y % of Rev 3Q08 $8.9 6.8 12.5 14.4% 3Q09 $14.0% $2.8 $14.0 10.0 10.0% Accounts receivable In billions $18.8 $14.9 $14. 2010 http://www.0 7.0 11.6 $5.hp.4% 2Q10 $14.com/investor/home .9 14.0 8.8 12.4% 2Q09 $14.0% $8.6 $ $7.2 $8.0% $5.4 5.7 18.6 16.0 2.6 12.2 7.5 $15.3% 1Q10 $6.

9 $14.0 7.2 9.8 9.1% 7 1% 4Q08 $10.0 6% $7.8 $14.2 $11.0 PP&E % of Rev 3Q08 $8.0 $9 0 $8.2 $11.8 $11.hp. 2010 http://www.0 $5.2% 9 2% 1Q09 $10.com/investor/home .8 $14.4 $11.3 9.PP&E & ACCOUNTS PAYABLE Net PP&E In billions $13.1% 9 1% 2Q09 $10.2% 9 2% 3Q09 $11.8 9.5% 9 5% 4Q09 $11.9 $13.8 2Q09 $11.5 $13.8 $10.3 $11.6 2Q10 $13.6 $11.0 $7.0 $13 0 10% $12.8 4Q08 $14.0 12% Accounts payable In billions $15.9 1Q09 $11.8 $11.2 9.3% 9 3% 3Q10 $11.0 $10.9 24 August 19.8 9.2 $11.5% 9 5% 2Q10 $11.4 3Q10 $14.3% 9 3% 4% $5.0 $9.4 3Q09 $12.5 9.0 8% $9.0 $14.0 Payables 3Q08 $14.8 4Q09 $14.8 1Q10 $13.2 9.8% 9 8% 1Q10 $11.4 $13.8 $11.8 $10.

hp.WORKING CAPITAL METRICS Days 60 50 40 30 20 3Q08 Days receivables Days inventory y y Days payable 44 35 62 4Q08 45 27 52 1Q09 46 31 48 2Q 09 48 25 49 3Q09 48 25 55 4Q09 48 23 57 1Q10 42 25 51 2Q10 43 25 51 3Q 10 46 28 57 25 August 19.com/investor/home . 2010 http://www.

$(7) $400 $37 Depreciation and net capital expenditures are shown net of inter-company eliminations.hp.HPFS SUPPLEMENTAL DATA In millions Q3 FY10 Depreciation (1) Q3 FY09 $297 Q2 FY10 $343 $351 Net capital expenditures (1) $521 $463 $515 Sequential increase (decrease) in net financing receivables 1.com/investor/home . 26 August 19. 2010 http://www. Prior period net financing receivables have been adjusted to more accurately reflect financing-related activity. 2.

com/investor/home $30.371 738 21. of Intangibles ReStructuring Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.462 (91) 347 180 77 347 92 180 57 77 22 3.hp.849 23.390 2.91 http://www.Q2 FY10 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort. net Pre-tax earnings Income tax Tax rate Net earnings EPS 27 August 19.5% 2. 2010 $30.601 4.858 (91) 2.200 $0.09 .849 23.633 $1.786 3.601 (347) (180) (77) 3.767 567 20.9% 2.

613 3.303 709 21.502 (199) 3.804 554 19.5% 2. net I t t th t Pre-tax earnings Income tax Tax rate Net earnings EPS $31.003 (199) 2.177 24.07 330 131 38 28 August 19.112 3.250 $0.Q1 FY10 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort. of Intangibles ReStructuring Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.062 3.177 24.8% 2. 2010 http://www.594 $1.062 4.com/investor/home .hp.93 330 101 131 42 38 12 (330) (131) (38) $31.

482 20.552 87.85 29 August 19.571 (640) 640 (7) 7 (242) 242 $114.660 $3.136 (721) 9.524 14. net Pre-tax earnings Income tax Tax Ta rate Net earnings EPS $114.393 $3.432 12. 2010 http://www.596 (721) 11.FY09 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.571 451 640 197 7 242 79 (1.9% 20 9% 9.571) 1.14 1.524 16.com/investor/home .875 2.415 1.6% 18 6% 7.892 10.hp.755 18.552 87. of Intangibles ReStructuring Acquisition related charges GAAP In-Process In Process R&D Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.

2010 http://www.99 $0 99 400 117 38 11 1 60 19 (400) (38) (1) (60) $30.777 23.764 $1.001 589 19.412 $0.14 $1 14 400 38 1 60 30 August 19. net I t t th t Pre-tax earnings Income tax Tax rate Net earnings EPS $30. of Intangibles ReStructuring In-Process R&D Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.169 3.0% 2.475 4.475 3.500 736 21.133 (132) 3.Q4 FY09 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.777 23.632 (132) 3.6% 2.hp.com/investor/home .670 3.

69 $0 69 379 105 362 108 59 19 (379) (362) (59) $27.585 21. 2010 http://www. of Intangibles ReStructuring Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.541 3.Q3 FY09 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.92 $0 92 379 362 59 31 August 19.213 (177) 2.585 21.031 4.671 $0.013 (177) 2.341 2.239 $0.036 365 17. net I t t th t Pre-tax earnings Income tax Tax rate Net earnings EPS $27.836 597 21.9% 1.031 3.com/investor/home .1% 2.hp.

945 3.662 559 21.6% 1.842 (180) 2.0% 2.com/investor/home .383 20.113 392 18.86 $0 86 380 94 75 32 August 19.103 $0.945 4.Q2 FY09 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.145 2.721 $0. 2010 http://www.293 (180) 2. net I t t th t Pre-tax earnings Income tax Tax rate Net earnings EPS $27.596 2. of Intangibles ReStructuring Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.hp.71 $0 71 380 112 94 31 75 24 (380) (94) (75) $27.383 20.

856 $0. of Intangibles ReStructuring In-Process R&D Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.497 (232) 2.93 412 146 6 48 33 August 19.807 22.625 3.hp.265 409 18.287 $0.073 3.877 590 20.109 (232) 2.5% 2.1% 1.75 412 117 146 47 6 48 17 (412) (146) (6) (48) $28.237 2. net other Pre-tax earnings Income tax Tax rate Net earnings EPS $28.com/investor/home . 2010 http://www.807 22.073 4.Q1 FY09 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.

473 0 10.869 11.364 89.144 20.5% 8. net other Pre-tax earnings Income tax Tax rate Net earnings EPS $118.796 0 11. 2010 http://www.364 89.329 $3.494 21.FY08 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.699 16.699 18.62 $3 62 967 270 45 41 34 August 19.796 2.com/investor/home .hp.25 $3 25 967 262 270 74 45 41 14 (967) (270) (45) (41) $118. of Intangibles ReStructuring In-Process R&D Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.192 10.473 2.1% 9.302 $3.

84 337 96 251 69 32 41 14 (337) (251) (32) (41) $33.1% 2.112 $0. net other Pre-tax earnings Income tax Tax rate Net earnings EPS $33.hp.594 $1.03 337 251 32 41 35 August 19.304 710 21.603 25.5% 2.853 5.741 (98) 2.603 25.Q4 FY08 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.348 3. 2010 http://www.853 4.402 (98) 3.009 2. of Intangibles ReStructuring In-Process R&D Acquisition related charges GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.com/investor/home .643 531 20.

Q3 FY08 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.032 21.6% 2. 2010 http://www.197 4.552 525 20.80 $0 80 213 56 5 1 (213) (5) - $28.hp.027 $0.306 2.188 $0.032 21.com/investor/home .529 23 2.197 4.0% 2.088 2.86 $0 86 213 5 - 36 August 19.770 582 21.747 23 2. net Pre-tax earnings Income tax Tax rate Net earnings EPS $28. of Intangibles ReStructuring In-Process R&D GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.

821 592 21.057 $0.590 3 2.hp. of Intangibles ReStructuring In-Process R&D GAAP Non-GAAP Non GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.239 2.262 21.229 $0.467 2.262 21.com/investor/home .87 $0 87 211 4 13 37 August 19.Q2 FY08 GAAP to non-GAAP BRIDGE In millions except per share amounts Amort.0% 2.593 536 20.205 4.80 $0 80 211 55 4 1 13 (211) (4) (13) $28. net Pre-tax earnings Income tax Tax rate Net earnings EPS $28.818 3 2.7% 2. 2010 http://www.205 4.

com/investor/home .hp.685 552 20.133 $0.Q1 FY08 GAAP to non-GAAP BRIDGE In millions except per share amounts GAAP Amort.291 $0. net Pre-tax earnings Income tax Tax rate Net earnings EPS $28.467 21.467 21.0% 21 0% 2. of Intangibles Restructuring Non-GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.410 2.613 72 2.829 72 2.194 2. 2010 http://www.80 (206) (10) $28.901 610 21.444 4.86 206 10 206 55 10 3 38 August 19.444 4.6% 20 6% 2.

683 16.954 $2.264 $2.93 $2 93 783 387 190 (517) 39 August 19. Non-GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.6% 7. net other Pre-tax earnings Income tax Tax rate Net earnings EPS $104.719 458 9.066 20.com/investor/home .913 20. of Intangibles Restructuring charges In-process R&D Pension Curtail.hp.68 $2 68 783 197 387 136 190 (517) (180) (783) (387) (190) 517 $104.286 78.562 458 10.041 16 041 9.FY07 GAAP to non-GAAP BRIDGE In millions except per share amounts GAAP Amort.020 2.177 1. 2010 http://www.8% 7.286 78.884 16 884 8.683 16.

net other Pre-tax earnings Income tax Tax rate Net earnings EPS $28. 2010 http://www.hp.164 $0. of Intangibles Restructuring In-process R&D Non-GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.0% 2.411 2.com/investor/home .293 21.81 187 46 (20) (7) 4 (187) 20 (4) $28.803 67 2.250 4.86 187 (20) 4 40 August 19.699 535 19.296 $0.Q4 FY07 GAAP to non-GAAP BRIDGE In millions except per share amounts GAAP Amort.632 67 2.250 4.240 2.8% 2.293 21.870 574 20.

464 552 22.149 2.112 4.377 19.778 $0.Q3 FY07 GAAP to non-GAAP BRIDGE In millions except per share amounts GAAP Amort.4% 22 4% 1.286 508 22.66 183 48 (5) (4) (183) 183 5 (5) $25.112 3.71 41 August 19. of Intangibles Restructuring In-process R&D Non-GAAP Revenue Cost of sales Total OpEx Operating profit Interest & other.971 2.com/investor/home . net Pre-tax earnings Income tax Tax t T rate Net earnings EPS $25.116 170 2.912 $0.294 170 2.hp. 2010 http://www.377 19.2% 22 2% 1.

Q&A August 19.com/investor/home .hp. 2010 http://www.

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