HP 2010 Annual Report Download - page 128

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 13: Borrowings (Continued)
supported by these credit facilities is subject to a number of factors, including liquidity conditions and
business performance.
Included in Other, including capital lease obligations, are borrowings that are collateralized by
certain financing receivable assets. As of October 31, 2010, the carrying value of the assets
approximated the carrying value of the borrowings of $130 million.
As of October 31, 2010, HP had the capacity to issue an unspecified amount of additional debt
securities, common stock, preferred stock, depositary shares and warrants under the 2009 Shelf
Registration Statement. As of that date, HP also had up to approximately $13.8 billion of available
borrowing resources, including $12.1 billion under its commercial paper programs and approximately
$1.5 billion relating to uncommitted lines of credit.
Aggregate future maturities of long-term debt at face value (excluding a fair value adjustment
related to hedged debt of $669 million, a premium on debt issuance of $45 million, and a discount on
debt issuance of $17 million) were as follows at October 31, 2010:
2011 2012 2013 2014 2015 Thereafter Total
In millions
Aggregate future maturities of debt
outstanding including capital lease
obligations ......................... $2,208 $4,272 $3,775 $3,720 $1,111 $1,691 $16,777
Interest expense on borrowings was approximately $417 million in fiscal 2010, $597 million in fiscal
2009, and $467 million in fiscal 2008.
Subsequent event
On December 2, 2010, HP issued $2 billion of U.S. Dollar Global Notes under the 2009 Shelf
Registration Statement. The Global Notes consisted of fixed rate notes at market rates with maturities
of five and ten years from the date of issuance.
120