HP 2013 Annual Report Download - page 132
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 10: Financing Receivables and Operating Leases (Continued)
The following table summarizes the aging and non-accrual status of gross financing receivables:
October 31, October 31,
2013 2012
In millions
Billed(1):
Current 1-30 days ............................................ $ 217 $ 216
Past due 31-60 days .......................................... 50 53
Past due 61-90 days .......................................... 15 13
Past due >90 days ........................................... 46 51
Unbilled sales-type and direct-financing lease receivables ................. 6,825 7,360
Total gross financing receivables ................................. $7,153 $7,693
Gross financing receivables on non-accrual status(2) ..................... $ 199 $ 225
Gross financing receivables 90 days past due and still accruing interest(2) ...... $ 181 $ 113
(1) Includes billed operating lease receivables and billed sales-type and direct-financing lease
receivables.
(2) Includes billed operating lease receivables and billed and unbilled sales-type and direct-financing
lease receivables.
Operating Leases
Operating lease assets included in machinery and equipment were as follows:
October 31, October 31,
2013 2012
In millions
Equipment leased to customers ................................... $3,822 $ 3,865
Accumulated depreciation ....................................... (1,452) (1,499)
Operating lease assets, net ....................................... $2,370 $ 2,366
As of October 31, 2013, minimum future rentals on non-cancelable operating leases related to
leased equipment were as follows for the following fiscal years ended October 31:
2014 2015 2016 2017 Thereafter Total
In millions
Minimum future rentals on non-cancelable operating leases . . $1,212 $759 $346 $93 $28 $2,438
Note 11: Guarantees
Guarantees
In the ordinary course of business, HP may issue performance guarantees to certain of its clients,
customers and other parties pursuant to which HP has guaranteed the performance obligations of third
parties. Some of those guarantees may be backed by standby letters of credit or surety bonds. In
general, HP would be obligated to perform over the term of the guarantee in the event a specified
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