Stock-Based Compensation (Tables)

12 Months Ended

Oct. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense and the Resulting Tax Benefits

Stock-based compensation expense and the resulting tax benefits for operations were as follows:

	For the fiscal years ended October 31
	2023		2022		2021
	In millions
Stock-based compensation expense	$	438	$	343	$	330
Income tax benefit	(72)		(59)		(52)
Stock-based compensation expense, net of tax	$	366	$	284	$	278

Schedule of Weighted-Average Fair Value and Assumptions Used to Measure Fair Value of Restricted Stock Units

HP uses the closing stock price on the grant date to estimate the fair value of service-based restricted stock units. HP estimates the fair value of restricted stock units subject to performance-adjusted vesting conditions using a combination of the closing stock price on the grant date and a Monte Carlo simulation model. The assumptions used to measure the fair value of restricted stock units subject to performance-adjusted vesting conditions in the Monte Carlo simulation model were as follows:

	For the fiscal years ended October 31
	2023		2022		2021
Expected volatility(1)	44.4	%	41.6	%	41.0	%
Risk-free interest rate(2)	4.0	%	1.0	%	0.2	%
Expected performance period in years(3)	2.9		2.9		2.9

(1)The expected volatility was estimated using the historical volatility derived from HP’s common stock.

(2)The risk-free interest rate was estimated based on the yield on U.S. Treasury zero-coupon issues.

(3)The expected performance period was estimated based on the length of the remaining performance period from the grant date.

Schedule of Restricted Stock Awards Activity

A summary of restricted stock units activity is as follows:

	As of October 31
	2023			2022			2021
	Shares	Weighted- Average Grant Date Fair Value Per Share		Shares	Weighted- Average Grant Date Fair Value Per Share		Shares	Weighted- Average Grant Date Fair Value Per Share
	In thousands			In thousands			In thousands
Outstanding at beginning of year	28,688	$	30	30,197	$	23	29,831	$	21
Granted(1)	18,500	$	31	15,337	$	36	15,517	$	25
Vested	(15,291)	$	29	(14,168)	$	22	(13,374)	$	21
Forfeited	(1,688)	$	31	(2,678)	$	25	(1,777)	$	22
Outstanding at end of year	30,209	$	31	28,688	$	30	30,197	$	23

Schedule of Weighted-Average Fair Value and Assumptions Used to Measure Fair Value of Stock Options

HP utilizes the Black-Scholes-Merton option pricing formula to estimate the fair value of stock options subject to service-based vesting conditions. HP estimates the fair value of stock options subject to performance-contingent vesting conditions using a combination of a Monte Carlo simulation model and a lattice model as these awards contain market conditions. The weighted-average fair value and the assumptions used to measure fair value were as follows:

	For the fiscal years ended October 31
	2023			2022			2021
Weighted-average fair value(1)	$	9		$	11		$	6
Expected volatility(2)	36.9		%	34.7		%	35.9		%
Risk-free interest rate(3)	3.4		%	1.5		%	1.0		%
Expected dividend yield(4)	3.5		%	2.7		%	3.2		%
Expected term in years(5)	5.8			6.0			5.5

(1)The weighted-average fair value was based on stock options granted during the period.

(2)Expected volatility was estimated based on a blended volatility (50% historical volatility and 50% implied volatility from traded options on HP’s common stock).

(3)The risk-free interest rate was estimated based on the yield on U.S. Treasury zero-coupon issues.

(4)The expected dividend yield represents a constant dividend yield applied for the duration of the expected term of the award.

(5)For awards subject to service-based vesting, the expected term was estimated using a simplified method; and for performance-contingent awards, the expected term represents an output from the lattice model

Schedule of Stock Options Activity

A summary of stock options activity is as follows:

	As of October 31
	2023						2022						2021
	Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value		Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value		Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
	In thousands			In years	In millions		In thousands			In years	In millions		In thousands			In years	In millions
Outstanding at beginning of year	6,095	$	26				6,367	$	21				5,637	$	17
Granted	2,180	$	28				1,867	$	37				2,691	$	24
Exercised	(1,071)	$	17				(1,364)	$	18				(1,843)	$	15
Forfeited/cancelled/expired	(325)	$	33				(775)	$	26				(118)	$	18
Outstanding at end of year	6,879	$	27	7.4	$	19	6,095	$	26	7.2	$	34	6,367	$	21	7.4	$	68
Vested and expected to vest	6,527	$	27	7.4	$	19	5,903	$	25	7.2	$	34	6,367	$	21	7.4	$	68
Exercisable	2,636	$	20	5.8	$	17	2,749	$	18	6.0	$	26	2,392	$	16	5.3	$	34

Schedule of Shares Available for Future Grant and Shares Reserved for Future Issuance

Shares available for future grant and shares reserved for future issuance under the stock-based incentive compensation plans and the 2021 ESPP were as follows:

	As of October 31
	2023	2022	2021
	In thousands
Shares available for future grant	133,033	174,264	170,123
Shares reserved for future issuance	169,503	208,351	205,968