HP 2015 Annual Report Download - page 165

Table of Contents
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On November 1, 2015, the $3.0 billion five-year credit facility was cancelled and HP amended the $4.5 billion five-year credit facility to a revolving
credit facility providing for a senior, unsecured revolving credit facility with aggregate lending commitments of $4.0 billion. Commitments under the
revolving credit facility will be available until the period ending on April 2, 2019. Funds to be borrowed under this revolving credit facility may be used for
general corporate purposes.
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On April 30, 2015, HP entered into a credit agreement that provides for a senior unsecured delayed, multiple draw term loan facility in the aggregate
principal amount of $5.0 billion. Funds borrowed under this agreement were used for general corporate purposes, including to pay expenses associated with
HP's proposed plan to separate into two independent publicly traded companies and matters related to the acquisition of Aruba. In fiscal 2015, HP borrowed
and repaid $3.5 billion under this credit agreement. Along with the repayment in the fourth quarter of fiscal 2015, this term loan agreement has terminated
upon the Separation.
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HP's and HP's subsidiaries' resources available to obtain short-or long-term financing were as follows:
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The stockholders of HP common stock are entitled to receive dividends when and as declared by HP's Board of Directors. Dividends declared were $0.67
per common share in fiscal 2015, $0.61 per common share in fiscal 2014 and $0.55 per common share in fiscal 2013.
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HP's share repurchase program authorizes both open market and private repurchase transactions. In fiscal 2015, HP executed share repurchases of
75 million shares which included 0.5 million shares settled in November, 2015. In fiscal 2015, HP settled total shares for $2.9 billion. In fiscal 2014, HP
executed share repurchases of 92 million shares and settled total shares for $2.7 billion. In fiscal 2013, HP executed share repurchases of 77 million shares
and settled total shares for $1.5 billion.
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Commercial paper programs(1) $ 16,461
Uncommitted lines of credit $ 2,524
(1) The extent to which HP is able to utilize the commercial paper programs as sources of liquidity at any given time is subject to a
number of factors, including market demand for HP securities and commercial paper, HP's financial performance, HP's credit ratings
and market conditions generally.
Source: HP INC, 10-K, December 16, 2015 Powered by Morningstar® Document Research℠
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