HP 2007 Annual Report Download - page 127

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 12: Borrowings (Continued)
Long-Term Debt
Long-term debt was as follows for the following fiscal years ended October 31:
2007 2006
In millions
U.S. Dollar Global Notes
$1,000 issued December 2001 at 5.75%, matured and paid December 2006 ....................................... $— $1,000
$1,000 issued June 2002 at 5.5%, matured and paid July 2007 ............................................................ — 999
$500 issued June 2002 at 6.5%, due July 2012..................................................................................... 499 498
$500 issued March 2003 at 3.625%, due March 2008.......................................................................... 500 499
$1,000 issued May 2006 at floating interest rate, due May 2009 and redeemed June 2007 ................. — 1,000
$600 issued February 2007 at floating interest rate, due March 2012 .................................................. 600 —
$900 issued February 2007 at 5.25%, due March 2012 ........................................................................ 900 —
$500 issued February 2007 at 5.4%, due March 2017 .......................................................................... 499 —
$1,000 issued June 2007 at floating interest rate, due June 2009.......................................................... 1,000—
$1,000 issued June 2007 at floating interest rate, due June 2010.......................................................... 1,000—
4,998 3,996
Series A Medium-Term Notes
$50 issued December 2002 at 4.25%, due December 2007 .................................................................. 50 50
50 50
Other
$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”).................................................................. 371 360
Other, including capital lease obligations, at 3.75%-15%, due 2006-2029........................................... 263 228
634 588
Fair value adjustment related to SFAS No. 133....................................................................................... (10) (63)
Less current portion ................................................................................................................................. (675) (2,081)
$4,997 $2,490
HP may redeem some or all of the Global Notes and the Series A Medium-Term Notes (collectively, the “Notes”), as set
forth in the above table, at any time at the redemption prices described in the prospectus supplements relating thereto. The
Notes are senior unsecured debt.
In May 2006, HP filed a shelf registration statement (the “2006 Shelf Registration Statement”) with the Securities and
Exchange Commission (the “SEC”) to enable HP to offer and sell, from time to time, in one or more offerings, debt
securities, common stock, preferred stock, depositary shares and warrants. On May 23, 2006, HP issued $1.0 billion in
floating rate global notes due May 22, 2009 under the 2006 Shelf Registration Statement. The notes bear interest at a floating
rate equal to the three-month USD LIBOR plus 0.125% per annum. HP used a portion of the proceeds it received to repay its
5.25% Euro Medium-Term Notes due July 2006 at maturity and the remainder of the net proceeds for general corporate
purposes.
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