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Retirement and Post-Retirement Benefit Plans
 9 Months Ended
Jul. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Retirement and Post-Retirement Benefit Plans
Retirement and Post-Retirement Benefit Plans
The components of HP's pension and post-retirement benefit (credit) cost recognized in the Consolidated Condensed Statements of Earnings were as follows:
 
Three months ended July 31
 
U.S.
Defined
Benefit Plans
 
Non-U.S.
Defined
Benefit Plans
 
Post-
Retirement
Benefit Plans
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
In millions
Service cost
$
—

 
$
—

 
$
12

 
$
64

 
$
—

 
$
1

Interest cost
136

 
140

 
6

 
92

 
5

 
7

Expected return on plan assets
(183
)
 
(210
)
 
(12
)
 
(195
)
 
(8
)
 
(10
)
Amortization and deferrals:
 

 
 

 
 

 
 

 
 

 
 

Actuarial loss (gain)
14

 
12

 
6

 
73

 
(3
)
 
(2
)
Prior service benefit
—

 
—

 
(1
)
 
(4
)
 
(4
)
 
(5
)
Net periodic benefit (credit) cost
(33
)
 
(58
)
 
11

 
30

 
(10
)
 
(9
)
Settlement gain
—

 
(72
)
 
—

 
—

 
—

 
—

Special termination benefits
—

 
—

 
—

 
—

 
—

 
1

Plan credit allocation(1)
—

 
—

 
—

 
—

 
—

 
(8
)
Total periodic benefit (credit) cost from continuing operations
(33
)
 
(130
)
 
11

 
30

 
(10
)
 
(16
)
Summary of total periodic benefit (credit) cost:
 

 
 

 
 

 
 

 
 

 
 

Continuing operations
(33
)
 
(130
)
 
11

 
30

 
(10
)
 
(16
)
Discontinued operations
—

 
183

 
—

 
26

 
—

 
8

Total periodic benefit (credit) cost
$
(33
)
 
$
53

 
$
11

 
$
56

 
$
(10
)
 
$
(8
)
 
Nine months ended July 31
 
U.S.
Defined
Benefit Plans
 
Non-U.S.
Defined
Benefit Plans
 
Post-
Retirement
Benefit Plans
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
In millions
Service cost
$
—

 
$
—

 
$
35

 
$
195

 
$
—

 
$
3

Interest cost
408

 
418

 
18

 
280

 
15

 
21

Expected return on plan assets
(549
)
 
(644
)
 
(36
)
 
(590
)
 
(24
)
 
(28
)
Amortization and deferrals:
 

 
 

 
 

 
 

 
 

 
 

Actuarial loss (gain)
42

 
37

 
18

 
220

 
(9
)
 
(8
)
Prior service benefit
—

 
—

 
(3
)
 
(14
)
 
(12
)
 
(15
)
Net periodic benefit (credit) cost
(99
)
 
(189
)
 
32

 
91

 
(30
)
 
(27
)
Settlement loss (gain)
1

 
(72
)
 
1

 
2

 
—

 
—

Special termination benefits
—

 
—

 
—

 
8

 
9

 
1

Plan credit allocation(1)
—

 
—

 
—

 
(11
)
 
—

 
(24
)
Total periodic benefit (credit) cost from continuing operations
(98
)
 
(261
)
 
33

 
90

 
(21
)
 
(50
)
Summary of total periodic benefit (credit) cost:
 

 
 

 
 

 
 

 
 

 
 

Continuing operations
(98
)
 
(261
)
 
33

 
90

 
(21
)
 
(50
)
Discontinued operations
—

 
193

 
—

 
79

 
—

 
24

Total periodic benefit (credit) cost
$
(98
)
 
$
(68
)
 
$
33

 
$
169

 
$
(21
)
 
$
(26
)
_______________________________________________________________________________

(1) 
Plan credit allocation relates to the employees of HP covered under Hewlett Packard Enterprise plans or employees of Hewlett Packard Enterprise covered under HP plans.
Employer Contributions and Funding Policy
HP's policy is to fund its pension plans so that it makes at least the minimum contribution required by local government, funding and taxing authorities.
During the nine months ended July 31, 2016, HP contributed $15 million to its non-U.S. pension plans, paid $24 million to cover benefit payments to U.S. non-qualified plan participants, and paid $24 million to cover benefit claims under HP's post-retirement benefit plans. During the remainder of fiscal 2016, HP anticipates making additional contributions of approximately $3 million to its non-U.S. pension plans and approximately $9 million to its U.S. non-qualified plan participants and expects to pay approximately $11 million to cover benefit claims under HP's post-retirement benefit plans.
HP's pension and other post-retirement benefit costs and obligations depend on various assumptions. Differences between expected and actual returns on investments and changes in discount rates and other actuarial assumptions are reflected as unrecognized gains or losses, and such gains or losses are amortized to earnings in future periods. A deterioration in the funded status of a plan could result in a need for additional company contributions or an increase in net pension and post-retirement benefit costs in future periods. Actuarial gains or losses are determined at the measurement date and amortized over the remaining service life for active plans or the life expectancy of plan participants for frozen plans.
Lump Sum Program
During the third quarter of fiscal 2016, HP offered a program whereby certain terminated vested participants of the HP Inc. Pension Plan ("Pension Plan") could elect to take a one-time voluntary lump sum payment equal to the present value of future benefits.  This program closed on July 29, 2016.  Approximately 17,000 plan participants elected to receive lump sum payments which they will receive from plan assets in the fourth quarter of fiscal 2016.  Settlement expense will be recorded in the fourth quarter of fiscal 2016. 

In January 2015, HP offered certain terminated vested participants of the Pension Plan the option of receiving their pension benefit in a one-time voluntary lump sum during a specified window. As a result of the lump sum program, HP recognized a settlement credit of approximately $72 million in the third quarter of fiscal 2015. As a result of the settlement, additional net periodic benefit cost of $8 million was recorded in the third quarter of fiscal 2015, which offset the actuarial gain from the settlement and was recognized in the Consolidated Condensed Statements of Earnings as Defined benefit plan settlement credits.