Spreadsheet: 075e5346-4e14-4774-9696-96c4650115c6
Sheet: Segment FY11 Margin

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
FISCAL 2011 SEGMENT INFORMATION (Revised)
([NAME])
 |  |  | REVISED AMOUNTS |  |  |  |  |  |  |  |  |  | AMOUNTS AS PREVIOUSLY REPORTED |  |  |  |  |  |  |  |  |  | [NAME]
 |  |  | Three months ended |  |  |  |  |  |  |  | Twelve months ended |  | Three months ended |  |  |  |  |  |  |  | Twelve months ended |  | Three months ended |  |  |  |  |  |  |  | Twelve months ended
 |  |  | Jan. 31, 2011 |  | Apr. 30, 2011 |  | Jul. 31, 2011 |  | Oct. 31, 2011 |  | Oct. 31, 2011 |  | Jan. 31, 2011 |  | Apr. 30, 2011 |  | Jul. 31, 2011 |  | Oct. 31, 2011 |  | Oct. 31, 2011 |  | Jan. 31, 2011 |  | Apr. 30, 2011 |  | Jul. 31, 2011 |  | Oct. 31, 2011 |  | Oct. 31, 2011
Segment operating margin: (a)
Personal Systems |  |  | 0.064 |  | 0.056 |  | 0.058 |  | 0.056 |  | 0.059 |  | 0.064 |  | 0.057 |  | 0.059 |  | 0.057 |  | 0.059 |  | 0 |  | -0.1000000000000001 |  | -0.0999999999999994 |  | -0.1000000000000001 |  | 0
Printing |  |  | 0.166 |  | 0.166 |  | 0.142 |  | 0.124 |  | 0.15 |  | 0.166 |  | 0.166 |  | 0.142 |  | 0.124 |  | 0.15 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
Printing and Personal Systems Group |  |  | 0.104 |  | 0.102 |  | 0.091 |  | 0.082 |  | 0.095 |  | 0.104 |  | 0.103 |  | 0.092 |  | 0.083 |  | 0.095 |  | 0 |  | -0.1000000000000001 |  | -0.1000000000000001 |  | -0.1000000000000001 |  | 0
Enterprise Servers, Storage and Networking |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0.148 |  | 0.138 |  | 0.129 |  | 0.128 |  | 0.136 |  | -14.8 |  | -13.8 |  | -12.9 |  | -12.8 |  | -13.6
Enterprise Group |  |  | 0.21 |  | 0.202 |  | 0.195 |  | 0.19 |  | 0.199 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 21 |  | 20.2 |  | 19.5 |  | 19 |  | 19.9
Services |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0.162 |  | 0.154 |  | 0.137 |  | 0.131 |  | 0.146 |  | -16.2 |  | -15.4 |  | -13.7 |  | -13.1 |  | -14.6
Enterprise Services |  |  | 0.09 |  | 0.085 |  | 0.065 |  | 0.062 |  | 0.075 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 9 |  | 8.5 |  | 6.5 |  | 6.2 |  | 7.5
Software |  |  | 0.166 |  | 0.198 |  | 0.195 |  | 0.278 |  | 0.214 |  | 0.166 |  | 0.198 |  | 0.195 |  | 0.278 |  | 0.214 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
HP Financial Services |  |  | 0.096 |  | 0.094 |  | 0.094 |  | 0.103 |  | 0.097 |  | 0.096 |  | 0.094 |  | 0.094 |  | 0.103 |  | 0.097 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
Corporate Investments |  |  | -4.6 |  | -6.548 |  | -1.472 |  | 6.784 |  | -9.837 |  | -2.871 |  | -4.738 |  | -1.421 |  | 6.931 |  | -7.784 |  | -172.9 |  | -181 |  | -5.099999999999993 |  | -14.70000000000002 |  | -205.3
(a) HP has implemented certain organizational realignments.  As a result of these realignments, HP has re-evaluated its segment financial reporting structure and, effective in the first quarter of fiscal 2013, created two new financial reporting segments, the Enterprise Group segment and the Enterprise Services segment, and eliminated two other financial reporting segments, the Enterprise Servers, Storage and Networking (“ESSN”) segment and the Services segment. The Enterprise Group segment consists of the business units within the former ESSN segment and most of the services offerings of the Technology Services (“TS”) business unit, which was previously a part of the former Services segment. The Enterprise Services segment consists of the Applications and Business Services (“ABS”) and Infrastructure Technology Outsourcing (“ITO”) business units from the former Services segment, along with the end-user workplace support services business that was previously a part of the TS business unit. Taking into account these changes, HP has the following seven financial reporting segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.  Also as a result of these realignments, the financial results of the Personal Systems commercial products support business, which were previously reported as part of the TS business unit, will now be reported as part of the Other business unit within the Personal Systems segment, and the financial results of the portion of the business intelligence services business that had continued to be reported as part of the Corporate Investments segment following the implementation of prior realignment actions will now be reported as part of the ABS business unit.  In addition, the end-user workplace support services business, which, as noted above, was previously a part of the TS business unit and will now become a part of the Enterprise Services segment, will be reported as part of the ITO business unit within that segment.  To provide improved visibility and comparability, HP has reflected these changes to its reporting structure in prior financial reporting periods on an as-if basis, which has resulted in the transfer of revenue and operating profit among the Personal Systems, Enterprise Group, Enterprise Services and Corporate Investments segments. These changes had no impact on the previously reported financial results for the Printing, Software or HP Financial Services segments. In addition, none of these changes impacted HP’s previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share.