Balance Sheet Details

12 Months Ended

Oct. 31, 2011

Balance Sheet Details

Balance Sheet Details

Note 4: Balance Sheet Details

        Balance sheet details were as follows for the following fiscal years ended October 31:

• Accounts and Financing Receivables

	2011			2010
	In millions
Accounts receivable	$	18,694		$	19,006
Allowance for doubtful accounts		(470	)		(525	)
	$	18,224		$	18,481
Financing receivables	$	3,220		$	3,050
Allowance for doubtful accounts		(58	)		(64	)
	$	3,162		$	2,986

        HP has revolving trade receivables-based facilities permitting it to sell certain trade receivables to third parties. In accordance with the accounting requirements under the Accounting Standards Codification relating to "Transfers and Servicing," trade receivables are derecognized from the Consolidated Balance Sheet when sold to third parties. The total aggregate capacity of the facilities was $1.5 billion as of October 31, 2011, including a $1.0 billion partial recourse facility entered into in May 2011 and an aggregate capacity of $0.5 billion in non-recourse facilities. The recourse obligation is measured using market data from similar transactions and reported as a current liability in the Consolidated Balance Sheet. The recourse obligation as of October 31, 2011 was not material.

        For fiscal 2011 and 2010, trade receivables sold under these facilities were $2.8 billion and $1.7 billion, respectively, which approximates the amount of cash received. The resulting losses on the sales of trade accounts receivable for the twelve months ended October 31, 2011 were not material. HP had $701 million as of October 31, 2011 and $175 million as of October 31, 2010 available under these programs.

• Inventory

	2011		2010
	In millions
Finished goods	$	4,869	$	4,431
Purchased parts and fabricated assemblies		2,621		2,035
	$	7,490	$	6,466

• Other Current Assets

	2011		2010
	In millions
Deferred tax assets—short-term	$	5,374	$	5,833
Value-added taxes receivable from various governments		2,480		3,366
Supplier and other receivables		2,762		2,737
Prepaid and other current assets		3,486		3,386
	$	14,102	$	15,322

• Property, Plant and Equipment

	2011			2010
	In millions
Land	$	687		$	530
Buildings and leasehold improvements		8,620			8,523
Machinery and equipment		16,155			13,874
		25,462			22,927
Accumulated depreciation		(13,170	)		(11,164	)
	$	12,292		$	11,763

        Depreciation expense was approximately $3.4 billion in fiscal 2011, $3.3 billion in fiscal 2010 and $3.2 billion in fiscal 2009.

• Long-Term Financing Receivables and Other Assets

	2011		2010
	In millions
Financing receivables, net	$	4,015	$	3,584
Deferred tax assets—long-term		1,283		2,070
Other		5,457		6,571
	$	10,755	$	12,225

• Other Accrued Liabilities

	2011		2010
	In millions
Other accrued taxes	$	2,414	$	3,216
Warranty		1,773		1,774
Sales and marketing programs		3,317		3,374
Other		6,955		6,932
	$	14,459	$	15,296

• Other Liabilities

	2011		2010
	In millions
Pension, post-retirement, and post-employment liabilities	$	5,414	$	6,754
Deferred tax liability—long-term		5,163		5,239
Long-term deferred revenue		3,453		3,303
Other long-term liabilities		3,490		3,765
	$	17,520	$	19,061