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Stock-Based Compensation (Table) | 12 Months Ended
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Oct. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense and the Resulting Tax Benefits | Stock-based compensation expense and the resulting tax benefits for operations were as follows:
| For the fiscal years ended October 31
| 2018 |  | 2017 |  | 2016
| In millions
Stock-based compensation expense | $ | 268 |  |  | $ | 224 |  |  | $ | 182 |
Income tax benefit | (59 | ) |  | (71 | ) |  | (63 | )
Stock-based compensation expense, net of tax | $ | 209 |  |  | $ | 153 |  |  | $ | 119 |
Weighted-Average Fair Value and Assumptions Used to Measure Fair Value of Restricted Stock Units | The weighted-average fair value and the assumptions used to measure the fair value of restricted stock units subject to performance-adjusted vesting conditions in the Monte Carlo simulation model were as follows:
| For the fiscal years ended October 31
| 2018 |  | 2017 |  | 2016
Weighted-average fair value(1) | $ | 24 |  |  | $ | 20 |  |  | $ | 13 |
Expected volatility(2) | 29.5 | % |  | 30.5 | % |  | 32.5 | %
Risk-free interest rate(3) | 1.9 | % |  | 1.4 | % |  | 1.2 | %
Expected performance period in years(4) | 2.9 |  |  | 2.9 |  |  | 2.9 |
(1) | The weighted-average fair value was based on performance-adjusted restricted stock units granted during the period.
(2) | The expected volatility was estimated using the historical volatility derived from HP’s common stock.
(3) | The risk-free interest rate was estimated based on the yield on U.S. Treasury zero-coupon issues.
(4) | The expected performance period was estimated based on the length of the remaining performance period from the grant date.
Summary of Restricted Stock Awards Activity | A summary of restricted stock units activity is as follows:
| As of October 31
| 2018 |  | 2017 |  | 2016
| Shares |  | Weighted- Average Grant Date Fair Value Per Share |  | Shares |  | Weighted- Average Grant Date Fair Value Per Share |  | Shares |  | Weighted- Average Grant Date Fair Value Per Share
| In thousands |  |  |  | In thousands |  |  |  | In thousands |  |
Outstanding at beginning of year | 31,822 |  |  | $ | 14 |  |  | 28,710 |  |  | $ | 13 |  |  | 29,717 |  |  | $ | 32 |
Granted | 16,364 |  |  | $ | 21 |  |  | 15,858 |  |  | $ | 16 |  |  | 29,286 |  |  | $ | 10 |
Vested | (15,339 | ) |  | $ | 15 |  |  | (11,915 | ) |  | $ | 14 |  |  | (4,161 | ) |  | $ | 13 |
Awards canceled due to Separation | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | (23,926 | ) |  | $ | 32 |
Forfeited | (2,063 | ) |  | $ | 17 |  |  | (831 | ) |  | $ | 14 |  |  | (2,206 | ) |  | $ | 14 |
Outstanding at end of year | 30,784 |  |  | $ | 18 |  |  | 31,822 |  |  | $ | 14 |  |  | 28,710 |  |  | $ | 13 |
Weighted-Average Fair Value and Assumptions Used to Measure Fair Value of Stock Options | The weighted-average fair value and the assumptions used to measure fair value were as follows:
| For the fiscal years ended October 31
| 2018 |  | 2017 |  | 2016
Weighted-average fair value(1) | $ | 5 |  |  | $ | 4 |  |  | $ | 4 |
Expected volatility(2) | 29.4 | % |  | 28.0 | % |  | 36.2 | %
Risk-free interest rate(3) | 2.5 | % |  | 1.9 | % |  | 1.8 | %
Expected dividend yield(4) | 2.6 | % |  | 2.8 | % |  | 3.5 | %
Expected term in years(5) | 5.0 |  |  | 5.5 |  |  | 6.0 |
(1) | The weighted-average fair value was based on stock options granted during the period.
(2) | For all awards granted in fiscal year 2018, expected volatility was estimated based on a blended volatility (50% historical volatility and 50% implied volatility from traded options on HP's common stock). For the awards granted in fiscal year 2017 and 2016, expected volatility was estimated using the leverage-adjusted average of the term-matching volatilities of peer companies due to the lack of volume of forward traded options, which precluded the use of implied volatility.
(3) | The risk-free interest rate was estimated based on the yield on U.S. Treasury zero-coupon issues.
(4) | The expected dividend yield represents a constant dividend yield applied for the duration of the expected term of the award.
(5) | For awards subject to service-based vesting, due to the lack of historical exercise and post-vesting termination patterns of the post-Separation employee base, the expected term was estimated using a simplified method; and for performance-contingent awards, the expected term represents an output from the lattice model.
Summary of Stock Options Activity | A summary of stock options activity is as follows:
| As of October 31
| 2018 |  | 2017 |  | 2016
| Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value |  | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value |  | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
| In thousands |  |  |  | In years |  | In millions |  | In thousands |  |  |  | In years |  | In millions |  | In thousands |  |  |  | In years |  | In millions
Outstanding at beginning of year | 18,067 |  |  | $ | 13 |  |  |  |  |  |  |  | 28,218 |  |  | $ | 12 |  |  |  |  |  |  |  | 36,278 |  |  | $ | 26 |  |  |  |  |  |
Granted and assumed through acquisition | 54 |  |  | $ | 21 |  |  |  |  |  |  |  | 104 |  |  | $ | 19 |  |  |  |  |  |  |  | 25,425 |  |  | $ | 6 |  |  |  |  |  |
Exercised | (10,644 | ) |  | $ | 13 |  |  |  |  |  |  |  | (9,407 | ) |  | $ | 11 |  |  |  |  |  |  |  | (4,714 | ) |  | $ | 8 |  |  |  |  |  |
Awards canceled due to Separation | — |  |  | $ | — |  |  |  |  |  |  | — |  |  | $ | — |  |  |  |  |  |  | (26,252 | ) |  | $ | 26 |  |  |  |  |
Forfeited/canceled/expired | (391 | ) |  | $ | 16 |  |  |  |  |  |  |  | (848 | ) |  | $ | 17 |  |  |  |  |  |  |  | (2,519 | ) |  | $ | 17 |  |  |  |  |  |
Outstanding at end of year | 7,086 |  |  | $ | 14 |  |  | 4.2 |  | $ | 73 |  |  | 18,067 |  |  | $ | 13 |  |  | 4.2 |  | $ | 152 |  |  | 28,218 |  |  | $ | 12 |  |  | 5.0 |  | $ | 73 |
Vested and expected to vest | 7,084 |  |  | $ | 14 |  |  | 4.2 |  | $ | 73 |  |  | 17,692 |  |  | $ | 13 |  |  | 4.1 |  | $ | 149 |  |  | 26,850 |  |  | $ | 12 |  |  | 4.9 |  | $ | 71 |
Exercisable | 4,707 |  |  | $ | 14 |  |  | 3.7 |  | $ | 49 |  |  | 10,898 |  |  | $ | 12 |  |  | 3.1 |  | $ | 102 |  |  | 15,418 |  |  | $ | 11 |  |  | 3.7 |  | $ | 62 |
Summary of Significant Ranges of Outstanding and Exercisable Stock Options | The following table summarizes significant ranges of outstanding and exercisable stock options:
|  | As of October 31, 2018
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Shares Outstanding |  | Weighted- Average Remaining Contractual Term |  | Weighted- Average Exercise Price |  | Shares Exercisable |  | Weighted- Average Exercise Price
|  | In thousands |  | In years |  | In thousands
$0-$9.99 |  | 451 |  |  | 2.3 |  | $ | 7 |  |  | 451 |  |  | $ | 7 |
$10-$19.99 |  | 6,522 |  |  | 4.3 |  | $ | 14 |  |  | 4,143 |  |  | $ | 14 |
$20-$29.99 |  | 113 |  |  | 5.3 |  | $ | 23 |  |  | 113 |  |  | $ | 23 |
|  | 7,086 |  |  |  |  |  |  |  | 4,707 |  |  |  |
Schedule of Shares Available for Future Grant and Shares Reserved for Future Issuance | Shares available for future grant and shares reserved for future issuance under the stock-based incentive compensation plans and the 2011 ESPP were as follows:
| As of October 31
| 2018 |  | 2017 |  | 2016
| In thousands
Shares available for future grant | 305,767 |  |  | 419,071 |  |  | 453,865 |
Shares reserved for future issuance | 343,076 |  |  | 468,531 |  |  | 510,176 |

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