Day 7 Ex1Financials

Day 7 Ex1Financials - HEWLETT-PACKARD COMPANY AND...

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Unformatted text preview: HEWLETT-PACKARD COMPANY AND SUBSIDIARIES Consolidated Statements of Earnings -Income Statement) 2006 2007 Net revenue: Products 73,557 84,229 Services 17,773 19,699 Financing income 328 358 Total net revenue 91,658 104,286 Costs and expenses: Cost of products 55,248 63,435 Cost of services 13,930 15,163 Financing interest 249 289 Research and development 3,591 3,611 Selling, general and administrative 11,266 12,226 Amortization of purchased intangible assets 604 783 In-process research and development charges 52 190 Restructuring charges 158 387 Acquisition-related charges — — Pension curtailments and pension settlements, net —-517 Total operating expenses 85,098 95,567 Earnings from operations 6,560 8,719 Interest and other, net 631 458 Earnings before taxes 7,191 9,177 Provision for taxes 993 1,913 Net earnings 6,198 7,264 For the fiscal years ended October 31 Net earnings per share: Basic 2.23 2.76 Diluted 2.18 2.68 Weighted-average shares used to compute net earnings per share: Basic 2,782 2,630 Diluted 2,852 2,716 Consolidated Balance Sheets 2007 In millions, except par value ASSETS Current assets: Cash and cash equivalents $ 11,293 Short-term investments 152 Accounts receivable 13,420 Financing receivables 2,507 Inventory 8,033 Other current assets 11,997 Total current assets 47,402 Property, plant and equipment 7,798 Long-term financing receivables and other assets 7,647 Goodwill 21,773 Purchased intangible assets 4,079 Total assets $ 88,699 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Notes payable and short-term borrowings $ 3,186 Accounts payable 11,787 October 31 Employee compensation and benefits 3,465 Taxes on earnings 1,891 Deferred revenue 5,025 Accrued restructuring 123 Other accrued liabilities 13,783 Total current liabilities 39,260 Long-term debt 4,997 Other liabilities 5,916 Commitments and contingencies Stockholders' equity: Preferred stock, $0.01 par value -300 shares authorized; none issued) — Common stock, $0.01 par value -9,600 shares authorized; 2,415 and 2,580 shares issued and outs 26 Additional paid-in capital 16,381 Retained earnings 21,560 Accumulated other comprehensive -loss) income 559 Total stockholders' equity 38,526 Total liabilities and stockholders' equity $ 88,699 Statements of Cash Flows 2006 2007 Cash flows from operating activities: Net earnings $ 6,198 7,264 Adjustments to reconcile net earnings to net cash provided by operating activities: For the fiscal years ended October 31 Depreciation and amortization 2,353 2,705 Stock-based compensation expense 536 629 Provision for doubtful accounts — accounts and financing receivables 4 47 Provision for inventory 267 362 Restructuring charges 158 387 Pension curtailments and pension settlements, net —-517 In-process research and development charges 52 190 Acquisition-related charges — — Deferred taxes on earnings 693 415 Excess tax benefit from stock-based compensation-251-481 Losses -gains) on investments-25-14 Other, net 18-86 Changes in assets and liabilities:...
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This note was uploaded on 09/08/2010 for the course BUS 173A at San Jose State.

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Day 7 Ex1Financials - HEWLETT-PACKARD COMPANY AND...

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