Seeking Alpha

H-P (HPQ) is depending more than ever on receivables sales, transactions in which it sells...

H-P (HPQ) is depending more than ever on receivables sales, transactions in which it sells customer invoices to third parties for an up-front fee. The WSJ's Rolfe Winkler notes receivables sales totaled $4.3B in FY12, or more than half of H-P's free cash flow for the year. The transactions both have the effect of skewing cash flow figures, and of sacrificing some cash flow in exchange for eliminating customer payment risk. H-P has responded by claiming the impact of receivables sales on FY12 cash flow was negligible.
Comments (1)
  • p_medica
    , contributor
    Comments (14) | Send Message
     
    You are seeing the effects of the Autonomy acquisition revenues which were not clearly ID'd by the acountants responsible for valuing the 11B acquisition.
    4 Jan 2013, 05:37 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|