HP 2011 Annual Report Download - page 76

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Management’s Discussion and Analysis of
Financial Condition and Results of Operations (Continued)
HP has revolving trade receivables-based facilities permitting it to sell certain trade receivables to
third parties on both a non-recourse and a partial recourse basis. The total aggregate capacity of the
facilities was $1.5 billion as of October 31, 2011, including a $1.0 billion partial recourse facility entered
into in May 2011 and an aggregate capacity of $0.5 billion in non-recourse facilities. For more
information on our revolving trade receivables-based facilities, see Note 4 to the Consolidated
Condensed Financial Statements in Item 1, which is incorporated herein by reference.
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