XML 37 R11.htm IDEA: XBRL DOCUMENT v3.22.4
Restructuring and Other Charges
3 Months Ended
Jan. 31, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges Restructuring and Other Charges
Summary of Restructuring Plans
HP’s restructuring activities for the three months ended January 31, 2023 and 2022 summarized by plan were as follows:
Fiscal 2023 Plan
SeveranceNon-labor
Other prior-year Plans(1)
Total
In millions
Accrued balance as of October 31, 2022$— $— $32 $32 
Charges122 — 131 
Cash payments(53)(4)(25)(82)
Non-cash and other adjustments(2)(5)(6)
Accrued balance as of January 31, 2023$67 $— $$75 
Total costs incurred to date as of January 31, 2023$122 $$865 $996 
Reflected in Consolidated Condensed Balance Sheets
Other current liabilities$67 $— $$75 
Accrued balance as of October 31, 2021$— $— $75 $75 
Charges— — 67 67 
Cash payments— — (98)(98)
Non-cash and other adjustments— — (7)(7)
Accrued balance as of January 31, 2022$— $— $37 $37 

(1) Primarily includes the fiscal 2020 plan along with other legacy plans, all of which are substantially complete. HP does not expect any further material activity associated with these plans.
Fiscal 2023 Plan
On November 18, 2022, HP’s Board of Directors approved the Fiscal 2023 Plan intended to enable digital transformation, portfolio optimization and operational efficiency which HP expects will be implemented through fiscal 2025. HP expects to reduce global headcount by approximately 4,000 to 6,000 employees. HP estimates that it will incur pre-tax charges of approximately $1.0 billion relating to labor and non-labor actions. HP expects to incur approximately $0.7 billion primarily in labor costs related to workforce reductions and the remaining costs will relate to non-labor actions and other charges.
Other charges
Other charges include non-recurring costs, including those as a result of information technology rationalization efforts, and are distinct from ongoing operational costs. These costs primarily relate to third-party professional services and other costs. For the three months ended January 31, 2023 and 2022, HP incurred $10 million and $1 million of other charges, respectively.