HPE Reports Fiscal 2017 Full-Year and Fourth Quarter Results

HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except par value)

	As of
	October 31, 2017			October 31, 2016
ASSETS
Current assets:
Cash and cash equivalents	$	9,579		$	12,987
Accounts receivable	3,073			3,151
Financing receivables	3,378			3,360
Inventory	2,315			1,720
Assets held for sale^(a)	14			—
Other current assets	3,085			2,694
Current assets of discontinued operations	—			5,005
Total current assets	21,444			28,917
Property, plant and equipment	6,269			6,375
Long-term financing receivables and other assets^(b)	12,600			10,476
Investments in equity interests	2,535			2,648
Goodwill and intangible assets	18,558			16,765
Non-current assets of discontinued operations	—			14,448
Total assets	$	61,406		$	79,629
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Notes payable and short-term borrowings^(b)	$	3,850		$	3,525
Accounts payable	6,072			4,945
Employee compensation and benefits	1,156			1,253
Taxes on earnings	429			161
Deferred revenue	3,128			2,996
Accrued restructuring	445			256
Other accrued liabilities	3,844			3,717
Current liabilities of discontinued operations	—			5,676
Total current liabilities	18,924			22,529
Long-term debt^(b)	10,182			12,168
Other non-current liabilities	8,795			8,874
Non-current liabilities of discontinued operations	—			4,540
Stockholders’ equity
HPE stockholders’ equity:
Preferred stock, $0.01 par value (300 shares authorized; none issued and outstanding at October 31, 2017)	—			—
Common stock, $0.01 par value (9,600 shares authorized; 1,595 and 1,666 shares issued and outstanding at October 31, 2017 and October 31, 2016, respectively)	16			17
Additional paid-in capital	33,583			35,248
Retained earnings	(7,238		)	2,782
Accumulated other comprehensive loss	(2,895		)	(6,599		)
Total HPE stockholders’ equity	23,466			31,448
Non-controlling interests of continuing operations	39			40
Non-controlling interests of discontinued operations	—			30
Total stockholders’ equity	23,505			31,518
Total liabilities and stockholders’ equity	$	61,406		$	79,629

During the fourth quarter of fiscal 2017, in connection with the HPE Next initiative, the Company determined that certain properties within its real estate portfolio met the criteria to be classified as Assets held for sale. The Company expects these properties to be sold within the next twelve months.

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