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HP Inc. (NYSE:HPQ)

This company has been moved to the archive! The financial data has not been updated since August 29, 2019.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

HP Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Notes payable and short-term borrowings 4.23 3.26 0.27 2.70 3.38 5.66
Accounts payable 42.79 40.35 38.27 14.93 15.41 13.27
Employee compensation and benefits 3.28 2.72 2.62 3.38 4.08 4.20
Taxes on earnings 0.98 0.65 0.80 0.78 0.99 1.14
Accrued restructuring 0.00 0.00 0.00 0.64 0.87 0.85
Other accrued taxes 2.84 2.72 2.60 2.22 2.20 2.56
Warranty 1.94 2.01 2.51 1.07 1.28 1.32
Deferred revenue 3.16 3.07 3.17 5.80 5.95 6.13
Sales and marketing programs 7.97 7.42 7.97 2.89 2.89 2.67
Other 5.40 5.91 6.63 5.07 5.33 5.29
Other accrued liabilities 21.30% 21.13% 22.88% 17.05% 17.66% 17.96%
Current liabilities 72.59% 68.09% 64.83% 39.47% 42.38% 43.08%
Long-term debt, excluding current portion 13.07 20.50 23.30 20.38 15.54 15.72
Pension, post-retirement, and post-employment liabilities 4.75 6.07 9.32 5.27 6.18 4.82
Deferred tax liability 0.29 4.28 3.85 0.28 1.09 2.52
Tax liability 5.96 6.09 6.58 2.43 2.77 2.09
Deferred revenue 2.90 2.80 2.98 4.09 3.81 3.70
Other 2.29 2.51 2.54 1.75 1.95 1.90
Other non-current liabilities 16.19% 21.76% 25.28% 13.81% 15.80% 15.04%
Non-current liabilities 29.26% 42.26% 48.57% 34.19% 31.34% 30.75%
Total liabilities 101.85% 110.35% 113.41% 73.66% 73.72% 73.83%
Preferred stock, $0.01 par value; none issued 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.05 0.05 0.06 0.02 0.02 0.02
Additional paid-in capital 1.91 1.15 3.55 1.84 3.32 5.17
Retained earnings (accumulated deficit) -1.37 -7.25 -12.06 30.02 28.26 24.19
Accumulated other comprehensive loss -2.44 -4.31 -4.96 -5.90 -5.70 -3.58
Total HP stockholders’ equity (deficit) -1.85% -10.35% -13.41% 25.98% 25.90% 25.80%
Non-controlling interests 0.00 0.00 0.00 0.36 0.38 0.37
Total stockholders’ equity (deficit) -1.85% -10.35% -13.41% 26.34% 26.28% 26.17%
Total liabilities and stockholders’ equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31), 10-K (reporting date: 2014-10-31), 10-K (reporting date: 2013-10-31).

The financial structure exhibits a significant transformation beginning in 2016, shifting from a traditional equity-supported balance sheet to one characterized by negative stockholders' equity and a heavy reliance on short-term operational liabilities.

Current Liabilities and Operational Obligations
A substantial increase in current liabilities is observed, rising from 43.08% in 2013 to 72.59% by 2018. This trend is primarily driven by a sharp escalation in accounts payable, which grew from approximately 13-15% between 2013 and 2015 to 42.79% by 2018. Additionally, sales and marketing programs saw a marked increase, jumping from 2.89% in 2015 to 7.97% in 2018, indicating a shift in how operational costs are funded and managed.
Non-Current Liabilities and Long-Term Debt
Non-current liabilities peaked in 2016 at 48.57% before declining to 29.26% by 2018. Long-term debt followed a similar trajectory, increasing from 15.72% in 2013 to a peak of 23.30% in 2016, then decreasing significantly to 13.07% by 2018. Pension and post-retirement liabilities showed volatility, peaking at 9.32% in 2016 before retreating to 4.75% in 2018.
Total Liabilities and Solvency
Total liabilities remained stable at approximately 73.7% through 2015 but surged to 113.41% in 2016. While this figure moderated slightly to 101.85% by 2018, the balance sheet remains heavily leveraged, with total liabilities exceeding total assets (as evidenced by the negative equity position).
Stockholders' Equity and Retained Earnings
A critical shift occurred in stockholders' equity, which transitioned from a positive 26.34% in 2015 to a deficit of -13.41% in 2016. This reversal is directly linked to retained earnings, which swung from a positive 30.02% in 2015 to a deficit of -12.06% in 2016. A gradual recovery is noted from 2016 through 2018, as the total equity deficit narrowed from -13.41% to -1.85%.

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