(b) Pursuant to adoption of ASU 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost”, in the first quarter of fiscal year 2019, HP now reclassifies all components (excluding service cost component) of net periodic benefit cost from Selling, general and administrative expenses to Interest and other, net. HP reflected this change in prior reporting periods on an as-if basis.
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
(Unaudited)
(In millions)
| As of | |||||||
| July 31, 2019 | October 31, 2018 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 4,919 | $ | 5,166 | |||
| Accounts receivable, net | 5,295 | 5,113 | |||||
| Inventory | 5,716 | 6,062 | |||||
| Other current assets | 3,753 | 5,046 | |||||
| Total current assets | 19,683 | 21,387 | |||||
| Property, plant and equipment, net | 2,462 | 2,198 | |||||
| Goodwill | 6,330 | 5,968 | |||||
| Other non-current assets | 3,930 | 5,069 | |||||
| Total assets | $ | 32,405 | $ | 34,622 | |||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | |||||||
| Current liabilities: | |||||||
| Notes payable and short-term borrowings | $ | 328 | $ | 1,463 | |||
| Accounts payable | 14,648 | 14,816 | |||||
| Employee compensation and benefits | 956 | 1,136 | |||||
| Taxes on earnings | 144 | 340 | |||||
| Other accrued liabilities | 8,503 | 7,376 | |||||
| Total current liabilities | 24,579 | 25,131 | |||||
| Long-term debt | 4,730 | 4,524 | |||||
| Other non-current liabilities | 4,227 | 5,606 | |||||
| Stockholders' deficit | (1,131 | ) | (639 | ) | |||
| Total liabilities and stockholders' deficit | $ | 32,405 | $ | 34,622 | |||
