Stockholders’ Deficit

12 Months Ended

Oct. 31, 2020

Stockholders' Equity Note [Abstract]

Stockholders’ Deficit

Stockholders’ Deficit

Share Repurchase Program

HP’s share repurchase program authorizes both open market and private repurchase transactions. In fiscal year 2020, HP executed share repurchases of 168 million shares and settled total shares for $3.1 billion. In fiscal year 2019, HP executed share repurchases of 118 million shares and settled total shares for $2.4 billion. In fiscal year 2018, HP executed share repurchases of 111 million shares and settled total shares for $2.6 billion. Share repurchases executed during fiscal years 2020, 2019, and 2018 included 2.3 million shares, 0.9 million shares, and 1.0 million shares settled in November 2020, November 2019, and November 2018, respectively.

The shares repurchased in fiscal years 2020, 2019 and 2018 were all open market repurchase transactions. On February 22, 2020, HP’s Board of Directors increased HP’s share repurchase authorization to $15.0 billion in total. As of October 31, 2020, HP had approximately $12.7 billion remaining under the share repurchase authorizations approved by HP’s Board of Directors.

Shareholder Rights Plan

On February 20, 2020, HP’s Board of Directors adopted a shareholder rights plan and declared a dividend of one preferred share purchase right for each outstanding share of HP’s common stock to shareholders of record on March 2, 2020. The dividend distribution was made on March 2, 2020. The rights were set to expire on February 20, 2021, unless terminated earlier by HP’s Board of Directors. The Board of Directors terminated the shareholder rights plan, effective June 25, 2020, and at the time of the termination, all rights distributed to holders of HP’s common stock under the shareholder rights plan expired.

Taxes related to Other Comprehensive (Loss) Income

	For the fiscal years ended October 31
	2020		2019		2018
	In millions
Tax effect on change in unrealized components of available-for-sale debt securities:
Tax benefit on unrealized losses arising during the period	$	—	$	—	$	1
Tax effect on change in unrealized components of cash flow hedges:
Tax benefit (provision) on unrealized (losses) gains arising during the period	20		(37)		(42)
Tax provision (benefit) on (gains) losses reclassified into earnings	28		46		(26)
	48		9		(68)
Tax effect on change in unrealized components of defined benefit plans:
Tax benefit on losses arising during the period	11		64		—
Tax provision on amortization of actuarial loss and prior service benefit	(19)		(11)		(11)
Tax provision on curtailments, settlements and other	(41)		(104)		(2)
	(49)		(51)		(13)
Tax effect on change in cumulative translation adjustment	2		—		—
Tax benefit (provision) on other comprehensive (loss) income	$	1	$	(42)	$	(80)

Changes and reclassifications related to Other Comprehensive (Loss) Income, net of taxes

	For the year ended October 31
	2020		2019		2018
	In millions
Other comprehensive (loss) income, net of taxes:
Change in unrealized components of available-for-sale debt securities:
Unrealized gains (losses) arising during the period	$	2	$	1	$	(2)
Losses (gains) reclassified into earnings	—		3		(5)
	2		4		(7)
Change in unrealized components of cash flow hedges:
Unrealized (losses) gains arising during the period	(181)		215		299
(Gains) losses reclassified into earnings	(57)		(334)		232
	(238)		(119)		531
Change in unrealized components of defined benefit plans:
(Losses) gains arising during the period	(18)		(239)		11
Amortization of actuarial loss and prior service benefit(1)	64		32		37
Curtailments, settlements and other	174		(62)		1
	220		(269)		49
Change in cumulative translation adjustment:	(2)		4		—
Other comprehensive (loss) income, net of taxes	$	(18)	$	(380)	$	573

(1)These components are included in the computation of net pension and post-retirement benefit (credit) charges in Note 4,

    “Retirement and Post-Retirement Benefit Plans”.

The components of Accumulated other comprehensive loss, net of taxes as of October 31, 2020 and changes during fiscal year 2020 were as follows:

	Net unrealized gains on available-for-sale securities		Net unrealized gains (losses) on cash flow hedges		Unrealized components of defined benefit plans		Change in cumulative translation adjustment		Accumulated other comprehensive loss
	In millions
Balance at beginning of period	$	9	$	172	$	(1,410)	$	4	$	(1,225)
Other comprehensive loss before reclassifications	2		(181)		(18)		(2)		(199)
Reclassifications of (gains) losses into earnings	—		(57)		64		—		7
Reclassifications of curtailments, settlements and other into earnings	—		—		174		—		174
Balance at end of period	$	11	$	(66)	$	(1,190)	$	2	$	(1,243)