HP 2005 Annual Report Download - page 105

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 11: 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:
2005 2004
Weighted Weighted
Amount Average Amount Average
Outstanding Interest Rate Outstanding Interest Rate
In millions
Current portion of long-term debt ............. $1,182 4.8% $1,861 7.1%
Commercial paper ......................... 208 2.6% 306 2.2%
Notes payable to banks, lines of credit and other . . 441 3.9% 344 2.4%
$1,831 $2,511
Notes payable to banks, lines of credit and other includes deposits associated with banking-related
activities of approximately $385 million and $241 million at October 31, 2005 and 2004, respectively.
Long-Term Debt
Long-term debt was as follows for the following fiscal years ended October 31:
2005 2004
In millions
U.S. Dollar Global Notes
$1,500 issued June 2000 at 7.15%, matured and paid June 2005 ............. $ — $1,499
$1,000 issued December 2001 at 5.75%, due December 2006 ................ 999 998
$1,000 issued June 2002 at 5.5%, due July 2007 ......................... 998 997
$500 issued June 2002 at 6.5%, due July 2012 .......................... 498 498
$500 issued March 2003 at 3.625%, due March 2008 ...................... 498 498
2,993 4,490
Euro Medium-Term Note Programme
A750 issued July 2001 at 5.25%, due July 2006 .......................... 900 954
Series A Medium-Term Notes
$200 issued December 2002 at 3.375%, due December 2005 ................ 200 200
$50 issued in December 2002 at 4.25%, due December 2007 ................ 50 50
250 250
Other
$300, Medium-Term Notes assumed from Compaq, issued at 7.65%, matured and
paid August 2005 ............................................. — 300
$505, U.S. dollar zero-coupon subordinated convertible notes, issued in October
and November 1997 at an imputed rate of 3.13%, due 2017 (‘‘LYONs’’) ...... 349 338
Other, including capital lease obligations, at 3.46%-9.17%, due 2004-2029 ...... 157 108
506 446
Fair value adjustment related to SFAS No. 133 ........................... (75) 44
Less current portion ............................................... (1,182) (1,861)
$ 3,392 $ 4,623
101