HP 2011 Annual Report Download - page 161

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 19: Segment Information (Continued)
The reconciliation of segment operating results information to HP consolidated totals was as
follows for the following fiscal years ended October 31:
2011 2010 2009
In millions
Net revenue:
Segment total ......................................... $130,687 $128,512 $116,336
Elimination of intersegment net revenue and other .............. (3,442) (2,479) (1,784)
Total HP consolidated net revenue .......................... $127,245 $126,033 $114,552
Earnings before taxes:
Total segment earnings from operations ...................... $ 13,928 $ 15,627 $ 13,367
Corporate and unallocated costs and eliminations ............... (314) (614) (219)
Unallocated costs related to certain stock-based compensation
expense ............................................ (618) (613) (552)
Amortization of purchased intangible assets ................... (1,607) (1,484) (1,578)
Impairment of goodwill and purchased intangible assets .......... (885) — —
Acquisition-related charges ............................... (182) (293) (242)
Restructuring charges ................................... (645) (1,144) (640)
Interest and other, net ................................... (695) (505) (721)
Total HP consolidated earnings before taxes ................... $ 8,982 $ 10,974 $ 9,415
HP allocates its assets to its business segments based on the primary segments benefiting from the
assets. Total assets by segment and the reconciliation of segment assets to HP consolidated total assets
were as follows at October 31:
2011 2010 2009
In millions
Personal Systems Group ................................. $ 15,781 $ 16,548 $ 15,767
Services ............................................. 40,614 41,989 41,189
Imaging and Printing Group .............................. 11,939 12,514 12,173
Enterprise Servers, Storage and Networking ................... 17,539 18,262 12,185
HP Software .......................................... 21,028 9,979 8,546
HP Financial Services ................................... 13,543 12,123 10,842
Corporate Investments .................................. 517 1,619 391
Corporate and unallocated assets ........................... 8,556 11,469 13,706
Total HP consolidated assets .............................. $129,517 $124,503 $114,799
The total assets allocated to the Corporate Investments segment decreased 68% in fiscal 2011
mostly due to an impairment charge to goodwill and certain purchased intangible assets associated with
the Palm acquisition following the decision to wind down the webOS device business. Assets allocated
to HP software increased by 111% in fiscal 2011 due to the acquisition of Autonomy. In addition, in
connection with certain fiscal 2011 organizational realignments, HP reclassified total assets of its
networking business from Corporate Investments to ESSN and total assets of the communications and
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