Fair Value (Tables)

3 Months Ended

Jan. 31, 2025

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents HP’s assets and liabilities that are measured at fair value on a recurring basis:


	As of January 31, 2025								As of October 31, 2024
	Fair Value Measured Using								Fair Value Measured Using
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	In millions
Assets:
Cash Equivalents:
Time deposits	$	—	$	1,011	$	—	$	1,011	$	—	$	1,012	$	—	$	1,012

Government debt(1)	426		—		—		426		1,332		—		—		1,332
Available-for-Sale Investments:

Financial institution instruments	—		3		—		3		—		3		—		3

Marketable securities and mutual funds(2)	58		124		—		182		54		130		—		184

Derivative Instruments:
Interest rate contracts	—		11		—		11		—		4		—		4
Foreign currency contracts	—		451		—		451		—		225		—		225
Other derivatives	—		2		—		2		—		—		—		—
Total assets	$	484	$	1,602	$	—	$	2,086	$	1,386	$	1,374	$	—	$	2,760
Liabilities:
Derivative Instruments:
Interest rate contracts	$	—	$	14	$	—	$	14	$	—	$	22	$	—	$	22
Foreign currency contracts	—		122		—		122		—		158		—		158
Other derivatives	—		—		—		—		—		2		—		2
Total liabilities	$	—	$	136	$	—	$	136	$	—	$	182	$	—	$	182

(1) Government debt includes instruments such as U.S. treasury notes, U.S. agency securities and non-U.S. government bonds. Money market funds invested in government debt and traded in active markets are included in Level 1.

(2) As of January 31, 2025 and October 31, 2024, $74 million and $78 million, respectively, of debt securities were restricted to fund benefits received by qualifying employees under a sponsored defined benefit plan.