HP 2010 Annual Report Download - page 114
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 9: Fair Value (Continued)
The following table presents HP’s assets and liabilities that are measured at fair value on a
recurring basis:
As of October 31, 2010 As of October 31, 2009
Fair Value Fair Value
Measured Using Measured Using
Total Total
Level 1 Level 2 Level 3 Balance Level 1 Level 2 Level 3 Balance
In millions
Assets
Time deposits ................... $— $6,598 $— $6,598 $ — $ 8,925 $— $ 8,925
Commercial paper ................ — — — — — 1,388 — 1,388
Money market funds ............... 971 — — 971 262 — — 262
Marketable equity securities .......... 11 3 — 14 7 3 — 10
Foreign bonds ................... 8 365 — 373 10 367 — 377
Corporate bonds and other debt securities . 3 6 50 59 5 5 36 46
Derivatives:
Interest rate contracts ............ — 735 — 735 — 375 — 375
Foreign exchange contracts ......... — 150 32 182 — 379 1 380
Other derivatives ............... — 5 6 11 — 1 — 1
Total Assets ................. $993 $7,862 $88 $8,943 $284 $11,443 $37 $11,764
Liabilities
Derivatives:
Interest rate contracts ............ $— $ 89 $— $ 89 $— $ 51 $— $ 51
Foreign exchange contracts ......... — 880 10 890 — 720 1 721
Other derivatives ............... — — — — — 2 — 2
Total Liabilities ............... $— $ 969 $10 $ 979 $— $ 773 $1 $ 774
The following table presents the changes in Level 3 instruments in fiscal years 2010 and 2009 that
were measured at fair value on a recurring basis. The majority of the Level 3 balances consist of
106