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Module 11: Adjusting Enterprise Operations

Module 11: Adjusting Enterprise Operations. Brian Phelan. Agenda. Background on HP Inventory Leasing SPEs ESO . Industry Structure. Source: Ibis World US. Industry Structure. Source: Ibis World US. Background. Restructuring Billions in Impaired acquisitions Layoffs

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Module 11: Adjusting Enterprise Operations

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  1. Module 11: Adjusting Enterprise Operations Brian Phelan

  2. Agenda • Background on HP • Inventory • Leasing • SPEs • ESO

  3. Industry Structure Source: Ibis World US

  4. Industry Structure Source: Ibis World US

  5. Background • Restructuring • Billions in Impaired acquisitions • Layoffs • 5 year plan -> growth by 2015

  6. Revenue Breakdown

  7. FIFO Inventory Source: HPQ 10k

  8. FIFO to LIFO Source: Investopedia

  9. Leases Source: HPQ 10k

  10. HPQ Operating Lease Assets Source: HPQ 10k

  11. HPQ Overstated Assets

  12. Lease Issues • No present value of minimum lease payments for HPQ capital leases • Adjusting for HPQ assets leased to customers as operating leases

  13. Special Purpose Entities Source: HPQ 10k

  14. ESO Assumptions

  15. ESO

  16. ESO Liability

  17. ESO Tax Benefit

  18. No Excess ESOP Tax Benefit Source: HPQ 10k

  19. Data Still Searching For • Projected growth rate by revenue segment • Reported debt tax shield • Breakdown of expenses

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