HP 2014 Annual Report Download - page 139
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 7: Balance Sheet Details (Continued)
Other Liabilities
As of October 31
2014 2013
In millions
Pension, post-retirement, and post-employment liabilities .................... $ 6,379 $ 5,098
Deferred revenue—long-term ....................................... 3,931 3,907
Deferred tax liability—long-term ..................................... 1,124 2,668
Tax liability—long-term ............................................ 2,861 2,213
Other long-term liabilities .......................................... 2,010 2,005
$16,305 $15,891
Note 8: Financing Receivables and Operating Leases
Financing receivables represent sales-type and direct-financing leases of HP and third-party
products. These receivables typically have terms ranging 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 were as follows:
As of October 31
2014 2013
In millions
Minimum lease payments receivable ................................... $6,982 $ 7,505
Unguaranteed residual value ........................................ 235 252
Unearned income ................................................ (547) (604)
Financing receivables, gross ......................................... 6,670 7,153
Allowance for doubtful accounts ...................................... (111) (131)
Financing receivables, net ........................................... 6,559 7,022
Less: current portion(1) ............................................. (2,946) (3,144)
Amounts due after one year, net(1) .................................... $3,613 $ 3,878
(1) HP includes the current portion in Financing receivables and amounts due after one year, net in
Long-term financing receivables and other assets in the accompanying Consolidated Balance
Sheets.
As of October 31, 2014, scheduled maturities of HP’s minimum lease payments receivable were as
follows for the fiscal years ended October 31:
2015 2016 2017 2018 2019 Thereafter Total
In millions
Scheduled maturities of minimum lease
payments receivable ................... $3,220 $1,959 $1,112 $483 $174 $34 $6,982
131