HP 2012 Annual Report Download - page 134
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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:
2012 2011
In millions
Product warranty liability at beginning of year ............................ $2,451 $ 2,447
Accruals for warranties issued ........................................ 2,249 2,657
Adjustments related to pre-existing warranties (including changes in estimates) .... (79) (33)
Settlements made (in cash or in kind) .................................. (2,451) (2,620)
Product warranty liability at end of year ................................ $2,170 $ 2,451
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:
2012 2011
Weighted- Weighted-
Amount Average Amount Average
Outstanding Interest Rate Outstanding Interest Rate
In millions In millions
Current portion of long-term debt ............. $5,744 1.6% $4,345 2.4%
Commercial paper ......................... 365 0.9% 3,215 0.4%
Notes payable to banks, lines of credit and other . . 538 2.8% 523 2.9%
$6,647 $8,083
Notes payable to banks, lines of credit and other includes deposits associated with HP’s banking-
related activities of approximately $369 million and $355 million at October 31, 2012 and 2011,
respectively.
Long-Term Debt
Long-term debt was as follows for the following fiscal years ended October 31:
2012 2011
In millions
U.S. Dollar Global Notes
2002 Shelf Registration Statement:
$500 issued at discount to par at a price of 99.505% in June 2002 at 6.5%,
paid July 2012 .............................................. $ — $ 500
2006 Shelf Registration Statement:
$600 issued at par in February 2007 at three-month USD LIBOR plus 0.11%,
paid March 2012 ............................................ — 600
$900 issued at discount to par at a price of 99.938% in February 2007 at
5.25%, paid March 2012 ...................................... — 900
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