HP Inc. Reports Fiscal 2019 Full Year and Fourth Quarter Results

(a)  Includes tax impact on non-GAAP adjustments.

(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
  October 31, 2019  October 31, 2018
ASSETS   
Current assets:   
Cash and cash equivalents$4,537  $5,166 
Accounts receivable, net6,031  5,113 
Inventory5,734  6,062 
Other current assets3,875  5,046 
Total current assets20,177  21,387 
Property, plant and equipment, net2,794  2,198 
Goodwill6,372  5,968 
Other non-current assets4,124  5,069 
Total assets$33,467  $34,622 
     
LIABILITIES AND STOCKHOLDERS' DEFICIT      
Current liabilities:      
Notes payable and short-term borrowings $ 357     $ 1,463  
Accounts payable 14,793     14,816  
Other current liabilities 10,143     8,852  
Total current liabilities 25,293     25,131  
Long-term debt 4,780     4,524  
Other non-current liabilities 4,587     5,606  
Stockholders' deficit (1,193 )   (639 )
Total liabilities and stockholders' deficit $ 33,467     $ 34,622  
               

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