Stockholders' Equity

6 Months Ended

Apr. 30, 2015

Stockholders' Equity

Stockholders' Equity

Note 13: Stockholders' Equity

Share Repurchase Program

        HP's share repurchase program authorizes both open market and private repurchase transactions. In the three and six months ended April 30, 2015, HP repurchased 18 million shares and 54 million shares of common stock at costs of $0.6 billion and $2.2 billion, respectively. In the three and six months ended April 30, 2014, HP repurchased 27 million shares and 48 million shares of common stock at costs of $0.8 billion and $1.4 billion, respectively. The shares repurchased and settled during the six months ended April 30, 2015 and 2014 were all open market transactions. As of April 30, 2015, HP had remaining authorization of $2.7 billion for future share repurchases under the $10.0 billion repurchase authorization approved by HP's Board of Directors on July 21, 2011.

Tax effects related to Other Comprehensive Loss

	Three months ended April 30						Six months ended April 30
	2015			2014			2015			2014
	In millions
Tax effects on change in unrealized losses on available-for-sale securities:
Tax benefit (provision) on unrealized losses arising during the period	$	18		$	(2	)	$	3		$	(1	)
		18			(2	)		3			(1	)
Tax effects on change in unrealized losses on cash flow hedges:
Tax benefit (provision) on unrealized (losses) gains arising during the period		20			75			(181	)		35
Tax provision (benefit) on (gains) losses reclassified into earnings		157			(29	)		255			(63	)
		177			46			74			(28	)
Tax effects on change in unrealized components of defined benefit plans:
Tax benefit on losses arising during the period		—			21			—			21
Tax provision (benefit) on amortization of actuarial loss and prior service benefit		1			(2	)		(13	)		(14	)
Tax provision on curtailments, settlements and other		(1	)		(7	)		(1	)		(7	)
		—			12			(14	)		—
Tax benefit (provision) on change in cumulative translation adjustment		3			12			(44	)		(8	)
Tax benefit (provision) on other comprehensive loss	$	198		$	68		$	19		$	(37	)

Changes and reclassifications related to Other Comprehensive Loss, net of taxes

	Three months ended April 30						Six months ended April 30
	2015			2014			2015			2014
	In millions
Other comprehensive loss, net of taxes:
Change in unrealized losses on available-for-sale securities:
Unrealized losses arising during the period	$	(41	)	$	(2	)	$	(10	)	$	(2	)
Gains reclassified into earnings		—			—			—			(1	)
		(41	)		(2	)		(10	)		(3	)
Change in unrealized losses on cash flow hedges:
Unrealized gains (losses) arising during the period		2			(234	)		432			(204	)
(Gains) losses reclassified into earnings(1)		(399	)		72			(635	)		147
		(397	)		(162	)		(203	)		(57	)
Change in unrealized components of defined benefit plans:
Losses arising during the period		—			(90	)		—			(90	)
Amortization of actuarial loss and prior service benefit(2)		105			64			203			115
Curtailments, settlements and other		3			33			1			33
		108			7			204			58
Change in cumulative translation adjustment		3			(5	)		(112	)		(49	)
Other comprehensive loss, net of taxes	$	(327	)	$	(162	)	$	(121	)	$	(51	)

(1) Reclassification of pre-tax (gains) losses on cash flow hedges into the Consolidated Condensed Statements of Earnings was as follows:

	Three months ended April 30					Six months ended April 30
	2015			2014		2015			2014
	In millions
Net revenue	$	(533	)	$	63	$	(867	)	$	126
Cost of products		43			21		69			44
Other operating expenses		3			3		7			7
Interest and other, net		(69	)		14		(99	)		33
	$	(556	)	$	101	$	(890	)	$	210

(2) These components are included in the computation of net pension and post-retirement benefit (credit) cost in Note 4.

        The components of accumulated other comprehensive loss, net of taxes and changes were as follows:

	Six months ended April 30, 2015
	Net unrealized gains (losses) on available- for-sale securities			Net unrealized gains (losses) on cash flow hedges			Unrealized components of defined benefit plans			Cumulative translation adjustment			Accumulated other comprehensive loss
	In millions
Balance at beginning of period	$	81		$	108		$	(5,376	)	$	(694	)	$	(5,881	)
Other comprehensive (loss) income before reclassifications		(10	)		432			1			(112	)		311
Reclassifications of (gains) losses into earnings		—			(635	)		203			—			(432	)
Balance at end of period	$	71		$	(95	)	$	(5,172	)	$	(806	)	$	(6,002	)