HP 2014 Annual Report Download - page 142
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 8: Financing Receivables and Operating Leases (Continued)
The following table summarizes the aging and non-accrual status of gross financing receivables:
As of
October 31
2014 2013
In millions
Billed(1):
Current 1-30 days ................................................ $ 243 $ 217
Past due 31-60 days ............................................... 46 50
Past due 61-90 days ............................................... 12 15
Past due >90 days ............................................... 49 46
Unbilled sales-type and direct-financing lease receivables ..................... 6,320 6,825
Total gross financing receivables ...................................... $6,670 $7,153
Gross financing receivables on non-accrual status(2) ......................... $ 130 $ 199
Gross financing receivables 90 days past due and still accruing interest(2) .......... $ 162 $ 181
(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 in the Consolidated Balance Sheets
were as follows:
As of
October 31
2014 2013
In millions
Equipment leased to customers ...................................... $3,977 $ 3,822
Accumulated depreciation .......................................... (1,382) (1,452)
$ 2,595 $ 2,370
As of October 31, 2014, minimum future rentals on non-cancelable operating leases related to
leased equipment were as follows for the fiscal years ended October 31:
2015 2016 2017 2018 2019 Thereafter Total
In millions
Minimum future rentals on non-cancelable operating
leases ................................. $1,487 $958 $467 $156 $50 $6 $3,124
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