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  1. cgk
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       #1  
    HP Investor Relations - Financial news


    I am not an accountant, however looking at this, it appears that in regards to goodwill and the other 'intangable assets' (basically the software and IP) that HP have written off 800 million of the book value (they paid 1.2 billion) - so it is only worth about $400 million?

    Any accountants in the house?

    Further has the whole thing cost HP a couple of billion so far?

    Fourth quarter non-GAAP earnings information excludes after-tax costs of $2.1 billion, or $1.05 per diluted share, related to the wind down of HP's webOS device business, impairment of goodwill and purchased intangible assets, amortization of purchased intangible assets, restructuring charges and acquisition-related charges.
    Last edited by CGK; 11/21/2011 at 03:45 PM.
  2. #2  
    spending all that cash then only to treat it as a stillborn child after 1 month (or 1 day for pre3), its their own fault the value dropped to nothing esp now after they cut all ties in such a devastating fasion, they did themselves no favours and still arent with this soon(tm) attitude.

    it looks to me all that funding was just to get some basic functionality on the stock apps then release everything and hope for the best, which ofc is plain stupid, my 6 yr odl nephew could probably work that out given all the facts, im amazed "experts" didnt.
  3. DrewT3's Avatar
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    Since they are counting "impairment of goodwill" I think $2.1 billion is way too low. Not fair to pin it all on WebOS, but Layo and the Board's antics over the last few months cost HP's reputation and brand at least that much.
  4. cgk
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       #4  
    Quote Originally Posted by DrewT3 View Post
    Since they are counting "impairment of goodwill" I think $2.1 billion is way too low. Not fair to pin it all on WebOS, but Layo and the Board's antics over the last few months cost HP's reputation and brand at least that much.
    Bear in mind I am not an accountant, directly related to WebOS, it was:

    * 885 million write-off in regards to the WebOS brand and the value of it's software and IP

    * 755 million in costs associated with shutting down the hardware devices

    They took in 142 million from the firesale.
  5. #5  
    wasnt the hardware shutdown also including (at the time) the PC division webOS ended up attached to? true its part of the shutdown but it wasnt the solo intended victim.
  6. cgk
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       #6  
    Quote Originally Posted by geekpeter View Post
    wasnt the hardware shutdown also including (at the time) the PC division webOS ended up attached to? true its part of the shutdown but it wasnt the solo intended victim.
    This is why we need an actual accountant who knows how they hide stuff in those balance sheets!
  7. #7  
    "impairment of goodwill" is an understatement.
    Author:
    Remove Messaging Beeps patch for webOS 3.0.5, Left/Right bezel gestures in LunaCE,
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    GO OPEN WEBOS!
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  8. #8  
    Quote Originally Posted by CGK View Post
    This is why we need an actual accountant who knows how they hide stuff in those balance sheets!
    we need "deepthroat" the inside man............provided he hasnt been fired.
  9. #9  
    How much of the intangible asset have they ammorized/depreciated already?
    Let me guess $400 million?

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