HP 2015 Annual Report Download - page 145
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Table of Contents
The gross financing receivables and related allowance evaluated for loss were as follows:
HP considers a financing receivable to be past due when the minimum payment is not received by the contractually specified due date. HP generally
places financing receivables on non-accrual status, which is suspension of interest accrual, and considers such receivables to be non-performing at the earlier
of the time at which full payment of principal and interest becomes doubtful or the receivable becomes 90 days past due. Subsequently, HP may recognize
revenue on non-accrual financing receivables as payments are received, which is on a cash basis, if HP deems the recorded financing receivable to be fully
collectible; however, if there is doubt regarding the ultimate collectability of the recorded financing receivable, all cash receipts are applied to the carrying
amount of the financing receivable, which is the cost recovery method. In certain circumstances, such as when HP deems a delinquency to be of an
administrative nature, financing receivables may accrue interest after becoming 90 days past due. The non-accrual status of a financing receivable may not
impact a customer's risk rating. After all of a customer's delinquent principal and interest balances are settled, HP may return the related financing receivable
to accrual status.
143
Gross financing receivables collectively evaluated for loss $ 6,433 $ 6,378
Gross financing receivables individually evaluated for loss 256 292
Total $ 6,689 $ 6,670
Allowance for financing receivables collectively evaluated for loss $ 82 $ 92
Allowance for financing receivables individually evaluated for loss 13 19
Total $ 95 $ 111
Source: HP INC, 10-K, December 16, 2015 Powered by Morningstar® Document Research℠
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except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.