HP 2015 Annual Report Download - page 162
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Table of Contents
As disclosed in Note 12, HP uses interest rate swaps to mitigate the exposure of its debt portfolio to changes in fair value resulting from changes in
interest rates by achieving a primarily U.S. dollar LIBOR-based floating interest expense. Interest rates shown in the table of long-term debt have not been
adjusted to reflect the impact of any interest rate swaps.
As of October 31, 2015, aggregate future maturities of debt at face value (excluding a fair value adjustment related to hedged debt of $48 million, a
premium on debt issuance of $13 million and a discount on debt issuance of $25 million) were as follows:
160
EDS Senior Notes(1)
$300 issued October 1999 at 7.45%, due October 2029 313 313
Other, including capital lease obligations, at 0.00%-8.30%, due in calendar years 2015-2024(2) 519 424
Fair value adjustment related to hedged debt 48 120
Less: current portion (2,321) (2,655)
Total long-term debt $ 21,780 $ 16,039
(1) HP may redeem some or all of the fixed-rate U.S. Dollar Global Notes and EDS Senior Notes at any time in accordance with the terms thereof. The U.S. Dollar Global Notes and
EDS Senior Notes are senior unsecured debt.
(2) Other, including capital lease obligations includes $196 million and $123 million as of October 31, 2015 and 2014, respectively, of borrowing- and funding-related activity
associated with HPFS and its subsidiaries that are collateralized by receivables and underlying assets associated with the related capital and operating leases. For both the periods
presented, the carrying amount of the assets approximated the carrying amount of the borrowing.
2016 $ 2,885
2017 2,653
2018 3,029
2019 411
2020 3,003
Thereafter 12,648
Total $ 24,629
Source: HP INC, 10-K, December 16, 2015 Powered by Morningstar® Document Research℠
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