HP 2014 Annual Report Download - page 154
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 11: Financial Instruments (Continued)
Fair Value of Derivative Instruments in the Consolidated Balance Sheets
The gross notional and fair value of derivative instruments in the Consolidated Balance Sheets was
as follows:
As of October 31, 2014 As of October 31, 2013
Long-Term Long-Term
Financing Financing
Outstanding Other Receivables Other Long-Term Outstanding Other Receivables Other Long-Term
Gross Current and Other Accrued Other Gross Current and Other Accrued Other
Notional Assets Assets Liabilities Liabilities Notional Assets Assets Liabilities Liabilities
In millions
Derivatives designated as hedging
instruments
Fair value hedges:
Interest rate contracts ..... $10,800 $ 3 $102 $ — $ 55 $11,100 $ 31 $125 $ — $107
Cash flow hedges:
Foreign currency contracts . . . 20,196 539 124 131 94 22,463 79 40 341 80
Net investment hedges:
Foreign currency contracts . . . 1,952 44 47 10 8 1,920 30 40 20 12
Total derivatives designated as
hedging instruments ...... 32,948 586 273 141 157 35,483 140 205 361 199
Derivatives not designated as
hedging instruments
Foreign currency contracts . . . . 21,384 82 32 82 25 16,048 72 26 76 20
Other derivatives ......... 361 6 1 — — 344 8 1 — —
Total derivatives not designated
as hedging instruments ..... 21,745 88 33 82 25 16,392 80 27 76 20
Total derivatives .......... $54,693 $674 $306 $223 $182 $51,875 $220 $232 $437 $219
Offsetting of Derivative Instruments
HP recognizes all derivative instruments on a gross basis in the Consolidated Balance Sheets. HP
does not offset the fair value of its derivative instruments against the fair value of cash collateral
posted under its collateral security agreements. As of October 31, 2014 and October 31, 2013,
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