Borrowings (Tables)

9 Months Ended

Jul. 31, 2015

Borrowings

Schedule of notes payable and short-term borrowings, including the current portion of long-term debt

	As of July 31, 2015					As of October 31, 2014
	Amount Outstanding		Weighted- Average Interest Rate			Amount Outstanding		Weighted- Average Interest Rate
	In millions					In millions
Current portion of long-term debt	$	2,935		1.6	%	$	2,655		2.2	%
Commercial paper(1)		4,110		0.5	%		298		0.5	%
Term loan agreement		3,500		1.3	%		—		—
Notes payable to banks, lines of credit and other(1)		489		3.2	%		533		4.0	%
	$	11,034				$	3,486

(1) Commercial paper includes $186 million and $298 million and Notes payable to banks, lines of credit and other includes $329 million and $404 million at July 31, 2015 and October 31, 2014, respectively, of borrowing- and funding-related activity associated with HPFS and its subsidiaries.

Schedule of long-term debt

	As of
	July 31, 2015			October 31, 2014
	In millions
U.S. Dollar Global Notes(1)
2006 Shelf Registration Statement:
$500 issued at discount to par at a price of 99.694% in February 2007 at 5.4%, due March 2017	$	500		$	500
$750 issued at discount to par at a price of 99.932% in March 2008 at 5.5%, due March 2018		750			750
2009 Shelf Registration Statement:
$1,100 issued at discount to par at a price of 99.887% in September 2010 at 2.125%, due September 2015		1,100			1,100
$650 issued at discount to par at a price of 99.911% in December 2010 at 2.2%, due December 2015		650			650
$1,350 issued at discount to par at a price of 99.827% in December 2010 at 3.75%, due December 2020		1,349			1,349
$1,000 issued at discount to par at a price of 99.958% in May 2011 at 2.65%, due June 2016		1,000			1,000
$1,250 issued at discount to par at a price of 99.799% in May 2011 at 4.3%, due June 2021		1,248			1,248
$750 issued at discount to par at a price of 99.977% in September 2011 at 2.35%, paid March 2015		—			750
$1,300 issued at discount to par at a price of 99.784% in September 2011 at 3.0%, due September 2016		1,299			1,298
$1,000 issued at discount to par at a price of 99.816% in September 2011 at 4.375%, due September 2021		999			999
$1,200 issued at discount to par at a price of 99.863% in September 2011 at 6.0%, due September 2041		1,199			1,199
$650 issued at discount to par at a price of 99.946% in December 2011 at 2.625%, paid December 2014		—			650
$850 issued at discount to par at a price of 99.790% in December 2011 at 3.3%, due December 2016		850			849
$1,500 issued at discount to par at a price of 99.707% in December 2011 at 4.65%, due December 2021		1,496			1,496
$1,500 issued at discount to par at a price of 99.985% in March 2012 at 2.6%, due September 2017		1,500			1,500
$500 issued at discount to par at a price of 99.771% in March 2012 at 4.05%, due September 2022		499			499
2012 Shelf Registration Statement:
$750 issued at par in January 2014 at three-month USD LIBOR plus 0.94%, due January 2019		750			750
$1,250 issued at discount to par at a price of 99.954% in January 2014 at 2.75%, due January 2019		1,250			1,250
		16,439			17,837
EDS Senior Notes(1)
$300 issued October 1999 at 7.45%, due October 2029		313			313
Other, including capital lease obligations, at 0.00%-8.30%, due in calendar years 2015-2024(2)		513			424
Fair value adjustment related to hedged debt		138			120
Less: current portion		(2,935	)		(2,655	)
Total long-term debt	$	14,468		$	16,039

(1)

HP may redeem some or all of the fixed-rate U.S. Dollar Global Notes and EDS Senior Notes at any time in accordance with the terms thereof. The U.S. Dollar Global Notes and EDS Senior Notes are senior unsecured debt.

(2)

Other, including capital lease obligations includes $173 million and $123 million as of July 31, 2015 and October 31, 2014, respectively, of borrowing- and funding-related activity associated with HPFS and its subsidiaries that are collateralized by receivables and underlying assets associated with the related capital and operating leases. For both the periods presented, the carrying amount of the assets approximated the carrying amount of the borrowings.

Schedule of interest expense on borrowings recognized in the Consolidated Condensed Statements of Earnings

		Three months ended July 31				Nine months ended July 31
Expense	Location	2015		2014		2015		2014
		In millions
Financing interest	Financing interest	$	58	$	70	$	182	$	211
Interest expense	Interest and other, net		82		80		224		270
Total interest expense		$	140	$	150	$	406	$	481

Schedule of borrowing resources available to obtain short-term or long-term financing

	As of July 31, 2015
	In millions
Commercial paper programs(1)	$	12,390
Term loan facility	$	1,500
Uncommitted lines of credit	$	2,307

(1) The extent to which HP is able to utilize the commercial paper programs as sources of liquidity at any given time is subject to a number of factors, including market demand for HP securities and commercial paper, HP's financial performance, HP's credit ratings and market conditions generally.