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Borrowings
 6 Months Ended
Apr. 30, 2025
Debt Disclosure [Abstract]  
Borrowings Borrowings
Notes Payable and Short-Term Borrowings
 As of April 30, 2025As of October 31, 2024
 Amount
Outstanding		Weighted-Average
Interest Rate		Amount
Outstanding		Weighted-Average
Interest Rate
 In millions
Current portion of long-term debt$1,392 4.9 %$1,358 5.0 %
Notes payable to banks, lines of credit and other54 — %48 — %
Total notes payable and short-term borrowings
$1,446  $1,406  

Long-Term Debt
 As of
 April 30, 2025October 31, 2024
 In millions
U.S. Dollar Global Notes(1)
  
$1,150 issued at discount to par at a price of 99.769% at 2.20%, due June 2025
$1,150 $1,150 
$1,000 issued at discount to par at a price of 99.808% at 1.45%, due June 2026
522 521 
$1,000 issued at discount to par at a price of 99.718% at 3.00%, due June 2027
999 999 
$900 issued at discount to par at a price of 99.841% at 4.75%, due January 2028
899 899 
$1,000 issued at discount to par at a price of 99.767% at 4.00%, due April 2029
999 999 
$500 issued at discount to par at a price of 99.732% at 5.40%, due April 2030
499 — 
$850 issued at discount to par at a price of 99.790% at 3.40%, due June 2030
503 503 
$1,000 issued at discount to par at a price of 99.573% at 2.65%, due June 2031
997 997 
$1,000 issued at discount to par at a price of 99.966% at 4.20%, due April 2032
676 676 
$1,100 issued at discount to par at a price of 99.725% at 5.50%, due January 2033
1,098 1,098 
$500 issued at discount to par at a price of 99.778% at 6.10%, due April 2035
499 — 
$1,200 issued at discount to par at a price of 99.863% at 6.00%, due September 2041
1,199 1,199 
$500 issued at par at a price of 100% at 4.75%, due March 2029
3 3 
10,043 9,044 
Other borrowings at 1.45%-7.38%, due in fiscal years 2025-2031
697 645 
Fair value adjustment related to hedged debt(6)(21)
Unamortized debt issuance cost(51)(47)
Current portion of long-term debt(1,392)(1,358)
Total long-term debt$9,291 $8,263 
(1)HP may redeem some or all of the fixed-rate U.S. Dollar Global Notes at any time in accordance with the terms thereof. The U.S. Dollar Global Notes are senior unsecured debt.
In April 2025, HP completed its offering of $1.0 billion aggregate principal amount of senior unsecured notes, consisting of $500 million of 5.40% notes due April 2030 and $500 million of 6.10% notes due April 2035. HP incurred issuance costs of $9 million. HP will pay interest semi-annually on each series of the notes on April 25 and October 25, beginning October 25, 2025. In April 2025, a series of forward starting swaps and a treasury rate lock totaling $825 million notional amount were settled to mitigate the treasury rates volatility associated with this debt issuance. HP intends to use the net proceeds from the offering of the notes for general corporate purposes, which may include, without limitation, repayment and refinancing of debt (including the repayment of the Global Notes due June 2025).
As disclosed in Note 8, “Financial Instruments,” HP uses interest rate swaps to mitigate some of the exposure of its debt portfolio to changes in fair value resulting from changes in benchmark interest rates. Interest rates shown in the table of long-term debt have not been adjusted to reflect the impact of any interest rate swaps.
Commercial Paper
As of April 30, 2025, HP maintained a U.S. commercial paper program for the issuance of U.S. dollar-denominated commercial paper up to a maximum aggregate principal amount of $6.0 billion. The principal amount outstanding under this program and certain short-term borrowings at any time cannot exceed a $6.0 billion authorization by HP’s Board of Directors.
Credit Facility
As of April 30, 2025, HP maintained a $5.0 billion 5-year sustainability-linked senior unsecured committed revolving credit facility, which HP entered into on August 1, 2024. Commitments under the revolving credit facility will be available until August 1, 2029. Commitment fees, interest rates and other terms of borrowing under the revolving credit facility vary based on HP’s external credit ratings and certain sustainability metrics. Funds borrowed under the revolving credit facility may be used for general corporate purposes.
As of April 30, 2025, HP was in compliance with the covenants in the credit agreement governing the revolving credit facility.
Available Borrowing Resources
As of April 30, 2025, HP had available borrowing resources of $1.1 billion from uncommitted lines of credit in addition to funds available under the revolving credit facility.