HP 2013 Annual Report Download - page 129
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 9: Financial Instruments (Continued)
The pre-tax effect of derivative instruments not designated as hedging instruments on the
Consolidated Statements of Earnings for fiscal 2013 and 2012 were as follows:
Gain (Loss) Recognized in Income on Derivative
Location 2013
In millions
Foreign exchange contracts ..................... Interest and other, net $166
Other derivatives ............................. Interest and other, net 11
Interest rate contracts ......................... Interest and other, net 3
Total ...................................... $180
Gain (Loss) Recognized in Income on Derivative
Location 2012
In millions
Foreign exchange contracts ..................... Interest and other, net $171
Other derivatives ............................. Interest and other, net (32)
Interest rate contracts ......................... Interest and other, net 13
Total ...................................... $152
Note 10: Financing Receivables and Operating Leases
Financing receivables represent sales-type and direct-financing leases resulting from the placement
of HP and third-party products. These receivables typically have terms from two to five years and are
usually collateralized by a security interest in the underlying assets. Financing receivables also include
billed receivables from operating leases. The components of financing receivables, which are included
in Financing receivables, net and Long-term financing receivables and other assets in the accompanying
Consolidated Balance Sheets, were as follows:
October 31, October 31,
2013 2012
In millions
Minimum lease payments receivable ................................ $7,505 $ 8,133
Unguaranteed residual value ..................................... 252 248
Unearned income ............................................. (604) (688)
Financing receivables, gross ...................................... 7,153 7,693
Allowance for doubtful accounts ................................... (131) (149)
Financing receivables, net ........................................ 7,022 7,544
Less current portion ........................................... (3,144) (3,252)
Amounts due after one year, net .................................. $3,878 $ 4,292
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