Taxes on Earnings (Tables)

12 Months Ended

Oct. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Earnings

The domestic and foreign components of earnings before taxes were as follows:

	For the fiscal years ended October 31
h	2022		2021		2020
	In millions
U.S.	$	1,406	$	4,724	$	874
Non-U.S.	2,918		2,844		2,337
	$	4,324	$	7,568	$	3,211

Schedule of (Benefit from) Provision for Taxes on Earnings

The provision for (benefit from) taxes on earnings was as follows:

	For the fiscal years ended October 31
	2022		2021		2020
	In millions
U.S. federal taxes:
Current	$	272	$	1,112	$	12
Deferred	27		(458)		(68)
Non-U.S. taxes:
Current	338		420		319
Deferred	503		(173)		137
State taxes:
Current	9		78		23
Deferred	43		48		(27)
	$	1,192	$	1,027	$	396

Schedule of Differences Between U.S. Federal Statutory Income Tax Rate and HP's Effective Tax Rate

The differences between the U.S. federal statutory income tax rate and HP’s effective tax rate were as follows:

	For the fiscal years ended October 31
	2022		2021		2020
U.S. federal statutory income tax rate from continuing operations	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	1.3	%	0.9	%	1.4	%
Impact of foreign earnings including GILTI and FDII, net	(7.9)	%	(3.9)	%	(5.2)	%
Valuation allowances	0.3	%	(3.5)	%	1.5	%
Uncertain tax positions and audit settlements	2.8	%	0.9	%	(3.9)	%
Impact of internal reorganization	9.4	%	(1.2)	%	—	%
Other, net	0.7	%	(0.6)	%	(2.5)	%
	27.6	%	13.6	%	12.3	%

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of unrecognized tax benefits is as follows:

	For the fiscal years ended October 31
	2022		2021		2020
	In millions
Balance at beginning of year	$	829	$	830	$	934
Increases:
For current year’s tax positions	26		62		64
For prior years’ tax positions	299		92		71
Decreases:
For prior years’ tax positions	(60)		(92)		(89)
Statute of limitations expirations	(5)		(9)		(2)
Settlements with taxing authorities	(44)		(54)		(148)
Balance at end of year	$	1,045	$	829	$	830

Schedule of Significant Components of Deferred Tax Assets and Deferred Tax Liabilities

The significant components of deferred tax assets and deferred tax liabilities were as follows:

	As of October 31
	2022		2021
	In millions
Deferred tax assets:
Loss and credit carryforwards	$	7,601	$	7,630
Intercompany transactions—excluding inventory	799		791
Fixed assets	118		136
Warranty	170		207
Employee and retiree benefits	133		281
Deferred revenue	221		192
Capitalized research and development	654		454
Intangible assets	—		474
Operating lease liabilities	238		227
Investment in partnership	70		95
Cash flow hedges	—		8
Other	352		448
Gross deferred tax assets	10,356		10,943
Valuation allowances	(7,592)		(7,749)
Total deferred tax assets	2,764		3,194
Deferred tax liabilities:
Unremitted earnings of foreign subsidiaries	(75)		(42)
Right-of-use assets from operating leases	(227)		(215)
Intangible assets	(261)		—
Cash flow hedges	(155)		—
Other	—		(79)
Total deferred tax liabilities	(718)		(336)
Net deferred tax assets	$	2,046	$	2,858

Deferred tax assets and liabilities included in the Consolidated Balance Sheets as follows:

	As of October 31
	2022		2021
	In millions
Deferred tax assets	$	2,167	$	2,915
Deferred tax liabilities	(121)		(57)
Total	$	2,046	$	2,858

Schedule of Deferred Tax Assets for Net Operating Loss Carryforwards

As of October 31, 2022, HP had recorded deferred tax assets for net operating loss (“NOL”) carryforwards as follows:

	Gross NOLs		Deferred Taxes on NOLs		Valuation allowance		Initial Year of Expiration
	In millions
Federal	$	291	$	63	$	(11)	2023
State	2,680		178		(71)		2023
Foreign	25,948		7,213		(7,113)		2033
Balance at end of year	$	28,919	$	7,454	$	(7,195)

Schedule of Deferred Tax Assets for Various Tax Credit Carryforwards

As of October 31, 2022, HP had recorded deferred tax assets for various tax credit carryforwards as follows:

	Carryforward		Valuation Allowance		Initial Year of Expiration
	In millions
Tax credits in state and foreign jurisdictions	$	312	$	(55)	2023
U.S. R&D and other credits	11		—		2031
Balance at end of year	$	323	$	(55)

Schedule of Deferred Tax Asset Valuation Allowance and Changes

The deferred tax asset valuation allowance and changes were as follows:

	For the fiscal years ended October 31
	2022		2021		2020
	In millions
Balance at beginning of year	$	7,749	$	7,951	$	7,930
Income tax (benefit) expense	(274)		(168)		49
Goodwill, other comprehensive loss (income), currency translation and charges to other accounts	117		(34)		(28)
Balance at end of year	$	7,592	$	7,749	$	7,951