XML 61 R42.htm IDEA: XBRL DOCUMENT
v3.23.3

EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2023
Retirement Benefits [Abstract] |
Schedule of Reconciliation of the Changes in the Pension Benefit Obligations and Fair Value of Pension Plan Assets | The following table provides a reconciliation of the changes in the pension benefit obligations and fair value of Pension Plan assets over the two-year period ended September 30, 2023 and a statement of the funded status as of September 30, 2023 and 2022:
| September 30,
(in thousands) | 2023 |  | 2022
Accumulated benefit obligation | $ | 54,646 |  |  | $ | 60,463 |
Changes in projected benefit obligations: |  |  |
Projected benefit obligation at beginning of year | $ | 60,463 |  |  | $ | 110,352 |
Interest cost | 3,086 |  |  | 2,537 |
Actuarial gain | (4,940) |  |  | (16,260) |
Benefits paid | (3,963) |  |  | (36,166) |
Projected benefit obligation at end of year | $ | 54,646 |  |  | $ | 60,463 |
Change in plan assets: |  |  |
Fair value of plan assets at beginning of year | $ | 41,764 |  |  | $ | 87,255 |
Actual return on plan assets | 979 |  |  | (14,324) |
Employer contribution | 5,000 |  |  | 5,000 |
Benefits paid | (3,963) |  |  | (36,167) |
Fair value of plan assets at end of year | $ | 43,780 |  |  | $ | 41,764 |
Funded status of the plan at end of year | $ | (10,866) |  |  | $ | (18,699) |
Schedule of Weighted Average Assumptions Used for the Pension Calculations | The weighted average assumptions used for the pension calculations were as follows:
| September 30,
| 2023 |  | 2022 |  | 2021
Discount rate for net periodic benefit costs | 5.44 | % |  | 2.75 | % |  | 2.66 | %
Discount rate for year-end obligations | 5.77 | % |  | 5.44 | % |  | 2.75 | %
Expected return on plan assets | 4.50 | % |  | 4.25 | % |  | 3.50 | %
Schedule of Components of the Net Periodic Pension (Benefit) | Components of the net periodic pension expense were as follows:
| Year Ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2021
Interest cost | $ | 3,086 |  |  | $ | 2,537 |  |  | $ | 2,925 |
Expected return on plan assets 1 | (1,762) |  |  | (2,481) |  |  | (3,722) |
Recognized net actuarial loss | 1,139 |  |  | 2,080 |  |  | 3,205 |
Settlement expense | — |  |  | 9,031 |  |  | 3,448 |
Other | — |  |  | — |  |  | (81) |
Net pension expense | $ | 2,463 |  |  | $ | 11,167 |  |  | $ | 5,775 |
(1)The Company uses the fair value of plan assets in determining the expected return on plan assets.
Schedule of Expected Benefits to be Paid from the Pension Plan in Each of the Next Five Fiscal Years and Thereafter | The following table reflects the expected benefits to be paid from the Pension Plan in each of the next five fiscal years, and in the aggregate for the five years thereafter (in thousands):
Year Ended September 30,
2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 – 2033 |  | Total
$ | 4,790 |  |  | $ | 5,698 |  |  | $ | 5,009 |  |  | $ | 5,114 |  |  | $ | 4,494 |  |  | $ | 21,168 |  |  | $ | 46,273 |
Schedule of Target Allocation and Asset Allocation for the Pension Plan | The target allocation for 2024 and the asset allocation for the Pension Plan at the end of fiscal years 2023 and 2022, by asset category, were as follows:
| Target Allocation |  | September 30,
Asset Category | 2024 |  | 2023 |  | 2022
U.S. equities | 17 | % |  | 17 | % |  | 18 | %
International equities | 12 |  |  | 12 |  |  | 11 |
Fixed income | 71 |  |  | 71 |  |  | 71 |
Total | 100 | % |  | 100 | % |  | 100 | %
Schedule of Fair Value of Pension Plan Assets | The fair value of Pension Plan assets at September 30, 2023 and 2022, summarized by level within the fair value hierarchy described in Note 12—Fair Value Measurement of Financial Instruments, are as follows:
| September 30, 2023
(in thousands) | Total |  | Level 1 |  | Level 2 |  | Level 3
Short-term investments | $ | 1,018 |  |  | $ | 1,018 |  |  | $ | — |  |  | $ | — |
Mutual funds: |  |  |  |  |  |  |
Domestic stock funds | 7,299 |  |  | 7,299 |  |  | — |  |  | — |
Bond funds | 30,319 |  |  | 30,319 |  |  | — |  |  | — |
International stock funds | 5,120 |  |  | 5,120 |  |  | — |  |  | — |
Total mutual funds | 42,738 |  |  | 42,738 |  |  | — |  |  | — |
Oil and gas properties | 24 |  |  | — |  |  | — |  |  | 24 |
Total | $ | 43,780 |  |  | $ | 43,756 |  |  | $ | — |  |  | $ | 24 |
| September 30, 2022
(in thousands) | Total |  | Level 1 |  | Level 2 |  | Level 3
Short-term investments | $ | 555 |  |  | $ | 555 |  |  | $ | — |  |  | $ | — |
Mutual funds: |  |  |  |  |  |  |
Domestic stock funds | 7,318 |  |  | 7,318 |  |  | — |  |  | — |
Bond funds | 29,093 |  |  | 29,093 |  |  | — |  |  | — |
International stock funds | 4,739 |  |  | 4,739 |  |  | — |  |  | — |
Total mutual funds | 41,150 |  |  | 41,150 |  |  | — |  |  | — |
Oil and gas properties | 59 |  |  | — |  |  | — |  |  | 59 |
Total | $ | 41,764 |  |  | $ | 41,705 |  |  | $ | — |  |  | $ | 59 |

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans, including the fair value of each major category of plan assets and the level within the fair value hierarchy in which the fair value measurements fall. + References No definition available. + Details
Name: | hp_ScheduleOfFairValueMeasurementOfPlanAssetsTableTextBlock
Namespace Prefix: | hp_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration