HP Reports First Quarter 2013 Results - Page 7
Marketwire
Thursday, February 21st 2013
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
(In millions)
January 31, October 31,
2013 2012
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(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 12,589 $ 11,301
Accounts receivable 14,236 16,407
Financing receivables 3,316 3,252
Inventory 6,374 6,317
Other current assets 13,037 13,360
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Total current assets 49,552 50,637
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Property, plant and equipment 11,686 11,954
Long-term financing receivables and other assets 10,249 10,593
Goodwill and purchased intangible assets 35,214 35,584
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Total assets $ 106,701 $ 108,768
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Notes payable and short-term borrowings $ 6,475 $ 6,647
Accounts payable 11,660 13,350
Employee compensation and benefits 3,520 4,058
Taxes on earnings 851 846
Deferred revenue 7,603 7,494
Other accrued liabilities 14,277 14,271
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Total current liabilities 44,386 46,666
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Long-term debt 21,752 21,789
Other liabilities 17,273 17,480
Stockholders' equity:
HP stockholders' equity 22,895 22,436
Non-controlling interests 395 397
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Total stockholders' equity 23,290 22,833
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Total liabilities and stockholders' equity $ 106,701 $ 108,768
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
Three months ended
--------------------------
January 31, January 31,
2013 2012
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Cash flows from operating activities:
Net earnings $ 1,232 $ 1,468
Adjustments to reconcile net earnings to net
cash provided by operating activities:
Depreciation and amortization 1,163 1,303
Stock-based compensation expense 184 175
Provision for bad debt and inventory 124 52
Restructuring charges 130 40
Deferred taxes on earnings 500 (110)
Excess tax benefit from stock-based
compensation - (11)
Other, net 167 44
Changes in operating assets and liabilities:
Accounts and financing receivables 2,246 2,311
Inventory (149) 180
Accounts payable (1,690) (2,376)
Taxes on earnings (423) (12)
Restructuring (237) (174)
Other assets and liabilities (685) (1,697)
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