HP 2012 Annual Report Download - page 108
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 3: Net Earnings Per Share (Continued)
The reconciliation of the numerators and denominators of the basic and diluted earnings and loss
per share calculations was as follows for the following fiscal years ended October 31:
2012 2011 2010
In millions, except per share
amounts
Numerator:
Net (loss) earnings(1) ...................................... $(12,650) $7,074 $8,761
Denominator:
Weighted-average shares used to compute basic EPS ............... 1,974 2,094 2,319
Dilutive effect of employee stock plans(2) ....................... — 34 53
Weighted-average shares used to compute diluted EPS(2) ............ 1,974 2,128 2,372
Net (loss) earnings per share:
Basic ................................................. $ (6.41) $ 3.38 $ 3.78
Diluted(2) .............................................. $ (6.41) $ 3.32 $ 3.69
(1) Net (loss) earnings available to participating securities were not significant for fiscal years 2012,
2011 and 2010. HP considers restricted stock that provides the holder with a non-forfeitable right
to receive dividends to be a participating security.
(2) For the fiscal year 2012, HP excluded from the calculation of diluted loss per share 10 million
shares potentially issuable under employee stock plans, as their effect, if included, would have been
anti-dilutive.
HP excludes options with exercise prices that are greater than the average market price from the
calculation of diluted earnings per share because their effect would be anti-dilutive. In fiscal years 2012,
2011 and 2010, HP excluded from the calculation of diluted earnings (loss) per share options to
purchase 56 million shares, 25 million shares and 5 million shares, respectively. In addition, HP also
excluded from the calculation of diluted earnings (loss) per share options to purchase an additional
1 million shares, 1 million shares and 2 million shares in fiscal years 2012, 2011 and 2010, respectively,
whose combined exercise price, unamortized fair value and excess tax benefits were greater in each of
those periods than the average market price for HP’s common stock because their effect would be
anti-dilutive.
Note 4: Balance Sheet Details
Balance sheet details were as follows for the following fiscal years ended October 31:
Accounts and Financing Receivables
2012 2011
In millions
Accounts receivable ............................................... $16,871 $18,694
Allowance for doubtful accounts ..................................... (464) (470)
$16,407 $18,224
100