HP 2011 Annual Report Download - page 125
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 12: Guarantees (Continued)
The changes in HP’s aggregate product warranty liabilities were as follows for the following fiscal
years ended October 31:
2011 2010
In millions
Product warranty liability at beginning of year ............................ $2,447 $ 2,409
Accruals for warranties issued ........................................ 2,657 2,689
Adjustments related to pre-existing warranties (including changes in estimates) .... (33) (53)
Settlements made (in cash or in kind) .................................. (2,620) (2,598)
Product warranty liability at end of year ................................ $2,451 $ 2,447
Note 13: Borrowings
Notes Payable and Short-Term Borrowings
Notes payable and short-term borrowings, including the current portion of long-term debt, were as
follows for the following fiscal years ended October 31:
2011 2010
Weighted- Weighted-
Amount Average Amount Average
Outstanding Interest Rate Outstanding Interest Rate
In millions
Commercial paper ......................... $3,215 0.4% $4,432 0.3%
Current portion of long-term debt ............. 4,345 2.4% 2,216 2.2%
Notes payable to banks, lines of credit and other . . 523 2.9% 398 1.5%
$8,083 $7,046
Notes payable to banks, lines of credit and other includes deposits associated with HP’s banking-
related activities of approximately $355 million and $348 million at October 31, 2011 and 2010,
respectively.
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