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Retirement and Post-Retirement Benefit Plans (Tables)
12 Months Ended
Oct. 31, 2020
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
 202020192018202020192018202020192018
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
Post-Retirement
Benefit Plans
 In millions
Service cost$— $— $— $64 $57 $55 $$$
Interest cost412 491 452 17 24 24 11 17 15 
Expected return on plan assets(700)(581)(717)(43)(37)(39)(23)(22)(23)
Amortization and deferrals:      
Actuarial loss (gain)64 59 58 43 31 28 (10)(31)(17)
Prior service benefit— — — (2)(3)(3)(12)(13)(18)
Net periodic (credit) benefit cost(224)(31)(207)79 72 65 (33)(48)(42)
Curtailment gain— — — — (22)— — — — 
Settlement loss217 — — — 
Special termination benefit cost— — — — — — 44 — 
Total (credit) benefit cost$(7)$(29)$(205)$80 $51 $70 $11 $(42)$(42)
Weighted-Average Assumptions Used to Calculate Total Periodic Benefit (Credit) Cost
The weighted-average assumptions used to calculate the total periodic (credit) benefit cost were as follows: 
 For the fiscal years ended October 31
 202020192018202020192018202020192018
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
Post-Retirement
Benefit Plans
Discount rate3.2 %4.5 %3.8 %1.3 %2.0 %2.1 %2.9 %4.4 %3.5 %
Expected increase in compensation levels2.0 %2.0 %2.0 %2.5 %2.5 %2.5 %— %— %— %
Expected long-term return on plan assets6.0 %6.0 %6.9 %4.4 %4.4 %4.5 %5.9 %6.0 %7.1 %
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
 202020192020201920202019
 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$12,017 $10,018 $969 $850 $404 $388 
Acquisition/ deletion of plan— — — (1)— — 
Actual return on plan assets1,260 2,499 22 85 107 44 
Employer contributions34 32 45 44 
Participant contributions— — 18 17 45 36 
Benefits paid(422)(523)(33)(28)(79)(69)
Settlement(2,426)(9)(7)(4)— — 
Currency impact— — 50 — — — 
Transfers— — — — — 
Fair value of assets — end of year$10,463 $12,017 $1,064 $969 $481 $404 
Change in benefits obligation      
Projected benefit obligation — beginning of year$13,191 $11,167 $1,457 $1,227 $390 $397 
Acquisition/ deletion of plan— — — — — 
Service cost— — 64 57 
Interest cost412 491 17 24 11 17 
Participant contributions— — 18 17 45 36 
Actuarial loss (gain)589 2,065 78 219 (10)35 
Benefits paid(422)(523)(33)(28)(79)(69)
Plan amendments— — — (8)(33)
Curtailment— — — (63)— — 
Settlement(2,426)(9)(7)(4)— — 
Special termination benefits— — — — 44 
  Transfers— — — — — 
Currency impact— — 67 (3)— — 
Projected benefit obligation — end of year$11,344 $13,191 $1,664 $1,457 $394 $390 
Funded status at end of year$(881)$(1,174)$(600)$(488)$87 $14 
Accumulated benefit obligation$11,344 $13,191 $1,515 $1,320 
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, 2020 and 2019 were as follows:
 For the fiscal years ended October 31
 202020192020201920202019
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
Post-Retirement
Benefit Plans
Discount rate2.8 %3.2 %1.1 %1.3 %2.3 %2.9 %
Expected increase in compensation levels2.0 %2.0 %2.4 %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
 202020192020201920202019
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
Post-Retirement
Benefit Plans
 In millions
Other non-current assets$— $— $20 $14 $93 $21 
Other current liabilities(35)(36)(8)(7)(5)(6)
Other non-current liabilities(846)(1,138)(612)(495)(1)(1)
Funded status at end of year$(881)$(1,174)$(600)$(488)$87 $14 
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, 2020
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
Post-Retirement
Benefit Plans
 In millions
Net actuarial loss (gain)$1,119 $475 $(220)
Prior service benefit— (10)(90)
Total recognized in Accumulated other comprehensive loss (gain)$1,119 $465 $(310)
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.
As of October 31, 2020
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
Post-Retirement
Benefit Plans
 In millions
Net actuarial loss (gain)$59 $54 $(17)
Prior service benefit— (2)(11)
Total expected to be recognized in net periodic benefit cost (credit)$59 $52 $(28)
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
 2020201920202019
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
 In millions
Aggregate fair value of plan assets$10,463 $12,017 $998 $905 
Aggregate projected benefit obligation$11,344 $13,191 $1,620 $1,410 
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
 2020201920202019
 U.S. Defined
Benefit Plans
Non-U.S. Defined
Benefit Plans
 In millions
Aggregate fair value of plan assets$10,463 $12,017 $920 $838 
Aggregate accumulated benefit obligation$11,344 $13,191 $1,419 $1,226 
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, 2020. 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, 2020
 U.S. Defined Benefit PlansNon-U.S. Defined Benefit PlansPost-Retirement Benefit Plans
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
 In millions
Asset Category:   
Equity securities(1)
$283 $51 $— $334 $$75 $— $82 $$$
Debt securities(2)
Corporate
— 5,891 — 5,891 — 124 — 124 — 53 — 53 
Government
— 1,758 — 1,758 — — — 136 — 136 
Real Estate Funds— — — — 28 — 29 — — — — 
Insurance Contracts— — — — — 90 — 90 — — — — 
Common Collective Trusts and 103-12 Investments Entities(3)
— — — — — — — — — — 
Investment Funds(4)
348 — — 348 — 329 — 329 63 — 63 
Cash and Cash Equivalents(5)
11 61 — 72 25 — — 25 — — 
Other(6)
(466)(19)— (485)19 — 20 (16)— (16)
Net plan assets subject to leveling$176 $7,742 $— $7,918 $34 $676 $— $710 $48 $191 $— $239 
Investments using NAV as a Practical Expedient(7)
2,545 354 242 
Investments at Fair Value$10,463 $1,064 $481 
     The table below sets forth the fair value of plan assets by asset category within the fair value hierarchy as of October 31, 2019.
 As of October 31, 2019
 U.S. Defined Benefit PlansNon-U.S. Defined Benefit PlansPost-Retirement Benefit Plans
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
 In millions
Asset Category:   
Equity securities(1)
$697 $58 $— $755 $132 $$— $140 $— $$— $
Debt securities(2)
Corporate
— 6,098 — 6,098 — 139 — 139 — 40 — 40 
Government
— 2,979 — 2,979 — 19 — 19 — 61 — 61 
Real Estate Funds— — — — 69 — 70 — — — — 
Insurance Contracts— — — — — 78 — 78 — — — — 
Common Collective Trusts and 103-12s(3)
— — — — — — — — — — 
Investment Funds(4)
324 — — 324 — 311 — 311 57 — — 57 
Cash and Cash Equivalents(5)
62 — 66 18 — — 18 — — 
Other(6)
(517)(488)— (1,005)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(7)
2,800 170 259 
Investments at Fair Value$12,017 $969 $404 
(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)These investments include alternative investments, which primarily consist of 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.
In addition, these investments include the Common Contractual Fund, which 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. These investments also include Common Collective Trusts and 103-12 Investment Entities as defined in note (3) above and Investment Funds as defined in note (4) above.
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:
2020 Target Allocation
Asset CategoryU.S. Defined Benefit PlansNon-U.S. Defined
Benefit Plans
Post-Retirement
Benefit Plans
Equity-related investments29.4 %35.4 %39.6 %
Debt securities70.6 %33.1 %48.4 %
Real estate— %12.1 %— %
Cash and cash equivalents— %3.1 %12.0 %
Other— %16.3 %— %
Total100.0 %100.0 %100.0 %
Schedule of Estimated Future Benefits Payments for Retirement and Post-Retirement Plans
As of October 31, 2020, HP estimates that the future benefits payments for the retirement and post-retirement plans are as follows:
Fiscal yearU.S. Defined
Benefit Plans
Non-U.S.
Defined
Benefit Plans
Post-Retirement
Benefit Plans
 In millions
2021$680 $43 $47 
2022680 41 44 
2023682 45 33 
2024690 50 27 
2025699 55 27 
Next five fiscal years to October 31, 20303,306 323 131