HP 2008 Annual Report Download - page 79
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Management’s Discussion and Analysis of
Financial Condition and Results of Operations (Continued)
these guarantees in the event our or our subsidiaries’ nonperformance permits termination of the
related contract by our client, the likelihood of which we believe is remote. We believe we are in
compliance with our performance obligations under all service contracts for which there is a
performance guarantee.
As a result of the acquisition of EDS, we acquired certain service contracts supported by client
financing or securitization arrangements. Under specific circumstances involving non performance
resulting in service contract termination or failure to comply with terms under the financing
arrangement we would be required to acquire certain assets. We consider the possibility of our failure
to comply to be remote and the asset amounts involved not material.
In the ordinary course of business, we enter into contractual arrangements under which we may
agree to indemnify the third-party to such arrangement from any losses incurred relating to the services
they perform on behalf of us or for losses arising from certain events as defined within the particular
contract, which may include, for example, litigation or claims relating to past performance. Such
indemnification obligations may not be subject to maximum loss clauses. Historically, payments we have
made related to these indemnifications have been immaterial.
73