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HPQ » Topics » Summary of Restructuring Plans

This excerpt taken from the HPQ 10-K filed Dec 18, 2007.

Summary of Restructuring Plans

        The activity in the accrued restructuring balances related to all of the plans described above was as follows for fiscal 2007:

 
    
    
    
    
    
    
   As of October 31, 2007
 
   Balance, October 31, 2006
   Fiscal year 2007 charges (reversals)
   Goodwill adjustments
   Cash payments
   Non-cash settlements and other adjustments
   Balance, October 31, 2007
   Total costs and adjustments to date
   Total expected costs and adjustments
 
    
    
    
    
   In millions

    
    
    
Fiscal 2007 U.S. Enhanced Early Retirement Program                                                
  Employee severance and other benefits charges         $ 354         $ (2 ) $ (352 ) $ —   $ 354   $ 354
Fiscal 2007 Mercury Plan:                                                
  Employee severance and other benefits charges               $ 45   $ (30 ) $ 2   $ 17   $ 45   $ 45
  Infrastructure                 13     (7 )   1     7     13     13
               
 
 
 
 
 
  Total employee severance and other benefits charges               $ 58   $ (37 ) $ 3   $ 24   $ 58   $ 58
Fiscal 2005 plan   $ 521   $ —   $ —   $ (484 ) $ 43   $ 80   $ 1,780   $ 1,780
Fiscal 2003, 2002 and 2001 plans     117     33     (10 )   (83 )   12     69     4,145     4,145
   
 
 
 
 
 
 
 
Total restructuring plans   $ 638   $ 387   $ 48   $ (606 ) $ (294 ) $ 173   $ 6,337   $ 6,337
   
 
 
 
 
 
 
 

        At October 31, 2007 and October 31, 2006, HP included the long-term portion of the restructuring liability of $50 million and $91 million, respectively, in Other Liabilities in the accompanying Consolidated Balance Sheets.


Note 9: Financial Instruments

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