HP 2006 Annual Report Download - page 112
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 11: Guarantees (Continued)
Deferred Revenue
The components of deferred revenue were as follows for the following fiscal years ended
October 31:
2006 2005
In millions
Deferred support contract services revenue ......................... $3,598 $3,188
Other deferred revenue ....................................... 2,461 1,958
Total deferred revenue ...................................... 6,059 5,146
Less current portion ......................................... 4,309 3,815
Long-term deferred revenue ................................... $1,750 $1,331
Deferred support contract services revenue represents amounts received or billed in advance
primarily for fixed-price support or maintenance contracts. These services include stand-alone product
support packages, routine maintenance service contracts, upgrades or extensions to standard product
warranty, as well as high availability services for complex, global, networked, multi-vendor
environments. These service amounts are deferred at the time the customer is billed and then
recognized ratably over the contract life or as the services are rendered.
Other deferred revenue represents amounts received or billed in advance for contracts related
primarily to consulting and integration projects, managed services start-up or transition work, product
sales and minor amounts for training.
Note 12: 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:
2006 2005
Weighted Weighted
Amount Average Amount Average
Outstanding Interest Rate Outstanding Interest Rate
In millions
Current portion of long-term debt ............. $2,081 5.7% $1,182 4.8%
Commercial paper ......................... 190 3.3% 208 2.6%
Notes payable to banks, lines of credit and other . . 434 4.6% 441 3.9%
$2,705 $1,831
Notes payable to banks, lines of credit and other includes deposits associated with banking-related
activities of approximately $393 million and $385 million at October 31, 2006 and 2005, respectively.
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