HP 2011 Annual Report Download - page 135

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 15: Stockholders’ Equity (Continued)
3 million shares repurchased in transactions that were executed in fiscal 2009 but settled in fiscal 2010.
In fiscal 2009, HP completed share repurchases of approximately 120 million shares. Repurchases of
approximately 132 million shares were settled for $5.1 billion, which included approximately 14 million
shares repurchased in transactions that were executed in fiscal 2008 but settled in fiscal 2009. The
foregoing shares repurchased and settled in fiscal 2011, fiscal 2010 and fiscal 2009 were all open market
repurchase transactions.
In fiscal 2011, HP’s Board of Directors authorized an additional $10 billion for future share
repurchases. In fiscal 2010, HP’s Board of Directors authorized an additional $18.0 billion for future
share repurchases. In fiscal 2009, there was no additional authorization for future share repurchases by
HP’s Board of Directors. As of October 31, 2011, HP had remaining authorization of approximately
$10.8 billion for future share repurchases.
Comprehensive Income
The changes in the components of other comprehensive income, net of taxes, were as follows for
the following fiscal years ended October 31:
2011 2010 2009
In millions
Net earnings .............................................. $7,074 $8,761 $ 7,660
Net change in unrealized gains on available-for-sale securities:
Change in net unrealized gains with no tax effect in fiscal 2011, net of
tax of $9 million in fiscal 2010 and net of tax of $11 million in fiscal
2009 ................................................. 17 16 17
Net unrealized gains reclassified into earnings, with no tax effect ....... — — (1)
17 16 16
Net change in unrealized gains (losses) on cash flow hedges:
Unrealized (losses) gains recognized in OCI, net of tax benefit of
$86 million in fiscal 2011, net of tax of $119 million in fiscal 2010 and
net of tax benefit of $362 million in fiscal 2009 .................. (288) 250 (540)
Losses (gains) reclassified into income, net of tax benefit of $210 million
in fiscal 2011, net of tax of $149 million in fiscal 2010 and net of tax of
$187 million in fiscal 2009 ................................. 448 (282) (431)
160 (32) (971)
Net change in cumulative translation adjustment, net of tax of $20 million
in fiscal 2011, net of tax of $31 million in fiscal 2010 and net of tax of
$227 million in fiscal 2009 ................................... 46 28 304
Net change in unrealized components of defined benefit plans, net of tax
benefit of $229 million in fiscal 2011, $83 million in fiscal 2010 and
$905 million in fiscal 2009 ................................... 116 (602) (2,531)
Comprehensive income ...................................... $7,413 $8,171 $ 4,478
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