Retirement and Post-Retirement Benefit Plans (Tables)

12 Months Ended

Oct. 31, 2019

Retirement Benefits [Abstract]

Components of Pension and Post-Retirement Benefit (Credit) Cost Recognized

The components of HP’s pension and post-retirement (credit) benefit cost recognized in the Consolidated Statements of Earnings were as follows:

	For the fiscal years ended October 31
	2019			2018			2017			2019			2018			2017			2019			2018			2017
	U.S. Defined Benefit Plans									Non-U.S. Defined Benefit Plans									Post-Retirement Benefit Plans
	In millions
Service cost	$	—		$	—		$	—		$	57		$	55		$	48		$	1		$	1		$	1
Interest cost	491			452			469			24			24			18			17			15			18
Expected return on plan assets	(581		)	(717		)	(677		)	(37		)	(39		)	(31		)	(22		)	(23		)	(26		)
Amortization and deferrals:
Actuarial loss (gain)	59			58			73			31			28			40			(31		)	(17		)	(17		)
Prior service benefit	—			—			—			(3		)	(3		)	(3		)	(13		)	(18		)	(19		)
Net periodic (credit) benefit cost	(31		)	(207		)	(135		)	72			65			72			(48		)	(42		)	(43		)
Curtailment gain	—			—			—			(22		)	—			—			—			—			—
Settlement loss	2			2			3			1			5			2			—			—			—
Special termination benefits	—			—			—			—			—			—			6			—			—
Total (credit) benefit cost	$	(29	)	$	(205	)	$	(132	)	$	51		$	70		$	74		$	(42	)	$	(42	)	$	(43	)

Weighted-Average Assumptions Used to Calculate Total Periodic Benefit (Credit) Cost

The weighted-average assumptions used to calculate the total periodic benefit (credit) cost were as follows: 

	For the fiscal years ended October 31
	2019		2018		2017		2019		2018		2017		2019		2018		2017
	U.S. Defined Benefit Plans						Non-U.S. Defined Benefit Plans						Post-Retirement Benefit Plans
Discount rate	4.5	%	3.8	%	4.0	%	2.0	%	2.1	%	1.6	%	4.4	%	3.5	%	3.4	%
Expected increase in compensation levels	2.0	%	2.0	%	2.0	%	2.5	%	2.5	%	2.7	%	—		—		—
Expected long-term return on plan assets	6.0	%	6.9	%	6.9	%	4.4	%	4.5	%	4.4	%	6.0	%	7.1	%	7.3	%

Schedule of Funded Status of Defined Benefit and Post-Retirement Benefit Plans

The funded status of the defined benefit and post-retirement benefit plans was as follows:

	As of October 31
	2019			2018			2019			2018			2019			2018
	U.S. Defined Benefit Plans						Non-U.S. Defined Benefit Plans						Post-Retirement Benefit Plans
	In millions
Change in fair value of plan assets:
Fair value of assets — beginning of year	$	10,018		$	10,838		$	850		$	815		$	388		$	351
Acquisition/ deletion of plan	—			—			(1		)	40			—			—
Actual return on plan assets	2,499			(267		)	85			(2		)	44			76
Employer contributions	32			33			44			33			5			4
Participant contributions	—			—			17			11			36			59
Benefits paid	(523		)	(575		)	(28		)	(10		)	(69		)	(102		)
Settlement	(9		)	(11		)	(4		)	(18		)	—			—
Currency impact	—			—			—			(19		)	—			—
Transfers	—			—			6			—			—			—
Fair value of assets — end of year	$	12,017		$	10,018		$	969		$	850		$	404		$	388
Change in benefits obligation
Projected benefit obligation — beginning of year	$	11,167		$	12,266		$	1,227		$	1,132		$	397		$	463
Acquisition/ deletion of plan	—			—			—			40			—			—
Service cost	—			—			57			55			1			1
Interest cost	491			452			24			24			17			15
Participant contributions	—			—			17			11			36			59
Actuarial loss (gain)	2,065			(965		)	219			21			35			(39		)
Benefits paid	(523		)	(575		)	(28		)	(10		)	(69		)	(102		)
Plan amendments	—			—			4			—			(33		)	—
Curtailment	—			—			(63		)	—			—			—
Settlement	(9		)	(11		)	(4		)	(13		)	—			—
Special termination benefits	—			—			—			—			6			—
Transfers	—			—			7			—			—			—
Currency impact	—			—			(3		)	(33		)	—			—
Projected benefit obligation — end of year	$	13,191		$	11,167		$	1,457		$	1,227		$	390		$	397
Funded status at end of year	$	(1,174	)	$	(1,149	)	$	(488	)	$	(377	)	$	14		$	(9	)
Accumulated benefit obligation	$	13,191		$	11,167		$	1,320		$	1,099

Weighted-Average Assumptions Used to Calculate Projected Benefit Obligations

The weighted-average assumptions used to calculate the projected benefit obligations for the fiscal years ended October 31, 2019 and 2018 were as follows:

	For the fiscal years ended October 31
	2019		2018		2019		2018		2019		2018
	U.S. Defined Benefit Plans				Non-U.S. Defined Benefit Plans				Post-Retirement Benefit Plans
Discount rate	3.2	%	4.5	%	1.3	%	2.0	%	2.9	%	4.4	%
Expected increase in compensation levels	2.0	%	2.0	%	2.5	%	2.5	%	—		—

Schedule of Net Amounts of Noncurrent Assets and Current and Noncurrent Liabilities for Defined Benefit and Post-Retirement Benefit Plans

The net amounts of non-current assets and current and non-current liabilities for HP’s defined benefit and post-retirement benefit plans recognized on HP’s Consolidated Balance Sheet were as follows:

	As of October 31
	2019			2018			2019			2018			2019			2018
	U.S. Defined Benefit Plans						Non-U.S. Defined Benefit Plans						Post-Retirement Benefit Plans
	In millions
Other non-current assets	$	—		$	—		$	14		$	10		$	21		$	11
Other current liabilities	(36		)	(32		)	(7		)	(9		)	(6		)	(6		)
Other non-current liabilities	(1,138		)	(1,117		)	(495		)	(378		)	(1		)	(14		)
Funded status at end of year	$	(1,174	)	$	(1,149	)	$	(488	)	$	(377	)	$	14		$	(9	)

Summary of Pre-Tax Net Actuarial Loss (Gain) and Prior Service Benefit Recognized in Accumulated Other Comprehensive Loss for Defined Benefit and Post-Retirement Benefit Plans

The following table summarizes the pre-tax net actuarial loss (gain) and prior service benefit recognized in Accumulated other comprehensive loss for the defined benefit and post-retirement benefit plans.

	As of October 31, 2019
	U.S. Defined Benefit Plans		Non-U.S. Defined Benefit Plans			Post-Retirement Benefit Plans
	In millions
Net actuarial loss (gain)	$	1,371	$	413		$	(135	)
Prior service benefit	—		(12		)	(94		)
Total recognized in Accumulated other comprehensive loss (gain)	$	1,371	$	401		$	(229	)

Summary of Net Actuarial Loss (Gain) and Prior Service Benefit Expected to be Amortized

The following table summarizes HP’s pre-tax net actuarial loss (gain) and prior service benefit that are expected to be amortized from Accumulated other comprehensive loss and recognized as components of net periodic benefit cost (credit) during the next fiscal year.

	U.S. Defined Benefit Plans		Non-U.S. Defined Benefit Plans			Post-Retirement Benefit Plans
	In millions
Net actuarial loss (gain)	$	65	$	42		$	(10	)
Prior service benefit	—		(2		)	(12		)
Total expected to be recognized in net periodic benefit cost (credit)	$	65	$	40		$	(22	)

Schedule of Defined Benefit Plans with Projected Benefit Obligations Exceeding Fair Value of Plan Assets

Defined benefit plans with projected benefit obligations exceeding the fair value of plan assets were as follows:

	As of October 31
	2019		2018		2019		2018
	U.S. Defined Benefit Plans				Non-U.S. Defined Benefit Plans
	In millions
Aggregate fair value of plan assets	$	12,017	$	10,018	$	905	$	800
Aggregate projected benefit obligation	$	13,191	$	11,167	$	1,410	$	1,194

Schedule of Defined Benefit Plans with Accumulated Benefit Obligations Exceeding Fair Value of Plan Assets

Defined benefit plans with accumulated benefit obligations exceeding the fair value of plan assets were as follows:

	As of October 31
	2019		2018		2019		2018
	U.S. Defined Benefit Plans				Non-U.S. Defined Benefit Plans
	In millions
Aggregate fair value of plan assets	$	12,017	$	10,018	$	838	$	734
Aggregate accumulated benefit obligation	$	13,191	$	11,167	$	1,226	$	1,007

Schedule of Fair Value of Plan Assets by Asset Category

The table below sets forth the fair value of plan assets by asset category within the fair value hierarchy as of October 31, 2019. Refer to Note 9, “Fair Value” for details on fair value hierarchy. Certain investments that are measured at fair value using the Net Asset Value (“NAV”) per share as a practical expedient have not been categorized in the fair value hierarchy.  The fair value amounts presented in this table provide a reconciliation of the fair value hierarchy to the total value of plan assets.

	As of October 31, 2019
	U.S. Defined Benefit Plans											Non-U.S. Defined Benefit Plans								Post-Retirement Benefit Plans
	Level 1			Level 2			Level 3		Total			Level 1		Level 2		Level 3		Total		Level 1			Level 2		Level 3		Total
	In millions
Asset Category:
Equity securities(1)	$	697		$	58		$	—	$	755		$	132	$	8	$	—	$	140	$	—		$	1	$	—	$	1
Debt securities(2)
Corporate	—			6,098			—		6,098			—		139		—		139		—			40		—		40
Government	—			2,979			—		2,979			—		19		—		19		—			61		—		61
Real Estate Funds	—			—			—		—			1		69		—		70		—			—		—		—
Insurance Contracts	—			—			—		—			—		78		—		78		—			—		—		—
Common Collective Trusts and 103-12 Investments Entities(3)	—			—			—		—			—		7		—		7		—			—		—		—
Investment Funds(4)	324			—			—		324			—		311		—		311		57			—		—		57
Cash and Cash Equivalents(5)	4			62			—		66			18		—		—		18		—			2		—		2
Other(6)	(517		)	(488		)	—		(1,005		)	1		16		—		17		(16		)	—		—		(16		)
Net plan assets subject to leveling	$	508		$	8,709		$	—	$	9,217		$	152	$	647	$	—	$	799	$	41		$	104	$	—	$	145
Investments using NAV as a Practical Expedient:
Alternative Investments(7)									975									21									196
Common Contractual Funds(8)									—									111									—
Common Collective Trusts and 103-12 Investment Entities(3)									1,155									—									54
Investment Funds(4)									670									38									9
Investments at Fair Value									$	12,017								$	969								$	404

     The table below sets forth the fair value of plan assets by asset category within the fair value hierarchy as of October 31, 2018.

	As of October 31, 2018
	U.S. Defined Benefit Plans											Non-U.S. Defined Benefit Plans								Post-Retirement Benefit Plans
	Level 1			Level 2			Level 3		Total			Level 1		Level 2		Level 3		Total		Level 1			Level 2		Level 3		Total
	In millions
Asset Category:
Equity securities(1)	$	794		$	48		$	—	$	842		$	114	$	6	$	—	$	120	$	1		$	—	$	—	$	1
Debt securities(2)
Corporate	—			4,941			—		4,941			—		110		—		110		—			40		—		40
Government	—			1,637			—		1,637			—		28		—		28		—			54		—		54
Real Estate Funds	—			—			—		—			3		60		—		63		—			—		—		—
Insurance Contracts	—			—			—		—			—		50		—		50		—			—		—		—
Common Collective Trusts and 103-12s(3)	—			—			—		—			—		7		—		7		—			—		—		—
Investment Funds(4)	253			—			—		253			—		279		—		279		55			—		—		55
Cash and Cash Equivalents(5)	5			139			—		144			19		—		—		19		—			4		—		4
Other(6)	(108		)	(233		)	—		(341		)	2		13		—		15		(13		)	—		—		(13		)
Net plan assets subject to leveling	$	944		$	6,532		$	—	$	7,476		$	138	$	553	$	—	$	691	$	43		$	98	$	—	$	141
Investments using NAV as a Practical Expedient:
Alternative Investments(7)									1,319									14									220
Common Contractual Funds(8)									—									110									—
Common Collective Trusts and 103-12 Investment Entities(3)									683									—									21
Investment Funds(4)									540									35									6
Investments at Fair Value									$	10,018								$	850								$	388

⁽¹⁾  Investments in publicly-traded equity securities are valued using the closing price on the measurement date as reported on the stock exchange on which the individual securities are traded.

⁽²⁾  The fair value of corporate, government and asset-backed debt securities is based on observable inputs of comparable market transactions. Also included in this category is debt issued by national, state and local governments and agencies.

⁽³⁾  Department of Labor 103-12 IE (Investment Entity) designation is for plan assets held by two or more unrelated employee benefit plans which includes limited partnerships and venture capital partnerships. Certain common collective trusts and interests in 103-12 entities are valued using NAV as a practical expedient.

⁽⁴⁾  Includes publicly traded funds of investment companies that are registered with the SEC, funds that are not publicly traded and a non-U.S. fund-of-fund arrangement. The non-U.S. fund-of-fund arrangement is a custom portfolio valued at NAV consisting primarily of fixed income and common contractual funds.

⁽⁵⁾  Includes cash and cash equivalents such as short-term marketable securities. Cash and cash equivalents include money market funds, which are valued based on NAV. Other assets were classified in the fair value hierarchy based on the lowest level input (e.g., quoted prices and observable inputs) that is significant to the fair value measure in its entirety.

⁽⁶⁾  Includes primarily reverse repurchase agreements, unsettled transactions, and derivative instruments.

⁽⁷⁾  Alternative Investments primarily include private equities and hedge funds. The valuation of alternative investments, such as limited partnerships and joint ventures, may require significant management judgment. For alternative investments, valuation is based on NAV as reported by the asset manager or investment company and adjusted for cash flows, if necessary. In making such an assessment, a variety of factors are reviewed by management, including but not limited to the timeliness of NAV as reported by the asset manager and changes in general economic and market conditions subsequent to the last NAV reported by the asset manager.

• Private equities include limited partnerships such as equity, buyout, venture capital, real estate and other similar funds that invest in the United States and internationally where foreign currencies are hedged.

• Hedge funds include limited partnerships that invest both long and short primarily in common stocks and credit, relative value, event-driven equity, distressed debt and macro strategies. Management of the hedge funds has the ability to shift investments from value to growth strategies, from small to large capitalization stocks and bonds, and

from a net long position to a net short position.

⁽⁸⁾  The Common Contractual Fund is an investment arrangement in which institutional investors pool their assets. Units may be acquired in different sub-funds focused on equities, fixed income, alternative investments and emerging markets. Each sub-fund is invested in accordance with the fund’s investment objective and units are issued in relation to each sub-fund. While the sub-funds are not publicly traded, the custodian strikes a NAV either once or twice a month, depending on the sub-fund. These assets are valued using NAV as a practical expedient.

Schedule of Weighted-Average Target Asset Allocations Across Benefit Plans

The weighted-average target asset allocations across the benefit plans represented in the fair value tables above were as follows:

	2019 Target Allocation
Asset Category	U.S. Defined Benefit Plans		Non-U.S. Defined Benefit Plans		Post-Retirement Benefit Plans
Equity-related investments	29.4	%	40.6	%	48.2	%
Debt securities	70.6	%	36.0	%	36.1	%
Real estate	—		6.2	%	—
Cash and cash equivalents	—		2.4	%	15.7	%
Other	—		14.8	%	—
Total	100.0	%	100.0	%	100.0	%

Schedule of Estimated Future Benefits Payments for Retirement and Post-Retirement Plans

As of October 31, 2019, HP estimates that the future benefits payments for the retirement and post-retirement plans are as follows:

Fiscal year	U.S. Defined Benefit Plans		Non-U.S. Defined Benefit Plans		Post-Retirement Benefit Plans
	In millions
2020	$	730	$	40	$	40
2021	752		34		36
2022	769		39		32
2023	788		40		29
2024	809		45		28
Next five fiscal years to October 31, 2029	4,020		276		135