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v3.21.1

Financial Instruments (Tables) | 6 Months Ended
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Apr. 30, 2021
Investments, All Other Investments [Abstract] |
Schedule of Cash Equivalents and Available-for-Sale Investments | Cash Equivalents and Available-for-Sale Investments
| As of April 30, 2021 |  | As of October 31, 2020
| Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value |  | Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value
| In millions
Cash Equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt | $ | 1,374 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,374 |  |  | $ | 1,700 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,700 |
Financial institution instruments | — |  |  | — |  |  | — |  |  | — |  |  | 59 |  |  | — |  |  | — |  |  | 59 |
Government debt | 931 |  |  | — |  |  | — |  |  | 931 |  |  | 2,173 |  |  | — |  |  | — |  |  | 2,173 |
Total cash equivalents | 2,305 |  |  | — |  |  | — |  |  | 2,305 |  |  | 3,932 |  |  | — |  |  | — |  |  | 3,932 |
Available-for-Sale Investments: |  |  |  |  |  |  |  |  |  |
Corporate debt(1) | — |  |  | — |  |  | — |  |  | — |  |  | 169 |  |  | — |  |  | — |  |  | 169 |
Financial institution instruments(1) | 12 |  |  | — |  |  | — |  |  | 12 |  |  | 32 |  |  | — |  |  | — |  |  | 32 |
Government debt(1) | — |  |  | — |  |  | — |  |  | — |  |  | 73 |  |  | — |  |  | — |  |  | 73 |
Mutual funds | 44 |  |  | 19 |  |  | — |  |  | 63 |  |  | 42 |  |  | 16 |  |  | — |  |  | 58 |
Total available-for-sale investments | 56 |  |  | 19 |  |  | — |  |  | 75 |  |  | 316 |  |  | 16 |  |  | — |  |  | 332 |
Total cash equivalents and available-for-sale investments | $ | 2,361 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 2,380 |  |  | $ | 4,248 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 4,264 |
(1) HP classifies its marketable debt securities as Available-for-sale investments within Other current assets on the Consolidated Condensed Balance Sheets, including those with maturity dates beyond one year, based on their highly liquid nature and availability for use in current operations.
Schedule of Contractual Maturities | Contractual maturities of investments in available-for-sale debt securities were as follows:
| As of April 30, 2021
| Amortized Cost |  | Fair Value
| In millions
Due in one year | $ | 12 |  |  | $ | 12 |
Schedule of Gross Notional and Fair Value of Derivative Financial Instruments in the Consolidated Condensed Balance Sheets | Gross notional and fair value of derivative instruments in the Consolidated Condensed Balance Sheets were as follows:
| As of April 30, 2021 |  | As of October 31, 2020
| Outstanding Gross Notional |  | Other Current Assets |  | Other Non-Current Assets |  | Other Current Liabilities |  | Other Non-Current Liabilities |  | Outstanding Gross Notional |  | Other Current Assets |  | Other Non-Current Assets |  | Other Current Liabilities |  | Other Non-Current Liabilities
| In millions
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | 750 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | 875 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts | 16,783 |  |  | 72 |  |  | 9 |  |  | 242 |  |  | 82 |  |  | 15,661 |  |  | 148 |  |  | 30 |  |  | 199 |  |  | 37 |
Interest rate contracts | 750 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total derivatives designated as hedging instruments | 18,283 |  |  | 74 |  |  | 9 |  |  | 242 |  |  | 91 |  |  | 16,536 |  |  | 152 |  |  | 30 |  |  | 199 |  |  | 40 |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts | 5,399 |  |  | 12 |  |  | — |  |  | 19 |  |  | — |  |  | 5,319 |  |  | 13 |  |  | — |  |  | 20 |  |  | — |
Other derivatives | 150 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 142 |  |  | — |  |  | — |  |  | 3 |  |  | — |
Total derivatives not designated as hedging instruments | 5,549 |  |  | 14 |  |  | — |  |  | 19 |  |  | — |  |  | 5,461 |  |  | 13 |  |  | — |  |  | 23 |  |  | — |
Total derivatives | $ | 23,832 |  |  | $ | 88 |  |  | $ | 9 |  |  | $ | 261 |  |  | $ | 91 |  |  | $ | 21,997 |  |  | $ | 165 |  |  | $ | 30 |  |  | $ | 222 |  |  | $ | 40 |
Schedule of Offsetting Assets | As of April 30, 2021 and October 31, 2020, information related to the potential effect of HP’s master netting agreements and collateral security agreements was as follows:
| In the Consolidated Condensed Balance Sheets |  |  |
|  |  |  |  |  |  | Gross Amounts Not Offset |  |  |
| Gross Amount Recognized (i) | Gross Amount Offset (ii) | Net Amount Presented (iii) = (i)–(ii) |  | Derivatives (iv) |  | Financial Collateral (v) |  |  | Net Amount (vi) = (iii)–(iv)–(v)
| In millions
As of April 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets | $ | 97 |  |  | $ | — |  |  | $ | 97 |  |  | $ | 89 |  |  | $ | — |  | (1) | $ | 8 |
Derivative liabilities | $ | 352 |  |  | $ | — |  |  | $ | 352 |  |  | $ | 89 |  |  | $ | 316 |  | (2) | $ | (53) |
As of October 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets | $ | 195 |  |  | $ | — |  |  | $ | 195 |  |  | $ | 156 |  |  | $ | 4 |  | (1) | $ | 35 |
Derivative liabilities | $ | 262 |  |  | $ | — |  |  | $ | 262 |  |  | $ | 156 |  |  | $ | 130 |  | (2) | $ | (24) |
(1)Represents the cash collateral posted by counterparties as of the respective reporting date for HP’s asset position, net of derivative amounts that could be offset, as of, generally, two business days prior to the respective reporting date. (2)Represents the collateral posted by HP including any re-use of counterparty cash collateral as of the respective reporting date for HP’s liability position, net of derivative amounts that could be offset, as of, generally, two business days prior to the respective reporting date.
Schedule of Offsetting Liabilities | As of April 30, 2021 and October 31, 2020, information related to the potential effect of HP’s master netting agreements and collateral security agreements was as follows:
| In the Consolidated Condensed Balance Sheets |  |  |
|  |  |  |  |  |  | Gross Amounts Not Offset |  |  |
| Gross Amount Recognized (i) | Gross Amount Offset (ii) | Net Amount Presented (iii) = (i)–(ii) |  | Derivatives (iv) |  | Financial Collateral (v) |  |  | Net Amount (vi) = (iii)–(iv)–(v)
| In millions
As of April 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets | $ | 97 |  |  | $ | — |  |  | $ | 97 |  |  | $ | 89 |  |  | $ | — |  | (1) | $ | 8 |
Derivative liabilities | $ | 352 |  |  | $ | — |  |  | $ | 352 |  |  | $ | 89 |  |  | $ | 316 |  | (2) | $ | (53) |
As of October 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets | $ | 195 |  |  | $ | — |  |  | $ | 195 |  |  | $ | 156 |  |  | $ | 4 |  | (1) | $ | 35 |
Derivative liabilities | $ | 262 |  |  | $ | — |  |  | $ | 262 |  |  | $ | 156 |  |  | $ | 130 |  | (2) | $ | (24) |
(1)Represents the cash collateral posted by counterparties as of the respective reporting date for HP’s asset position, net of derivative amounts that could be offset, as of, generally, two business days prior to the respective reporting date. (2)Represents the collateral posted by HP including any re-use of counterparty cash collateral as of the respective reporting date for HP’s liability position, net of derivative amounts that could be offset, as of, generally, two business days prior to the respective reporting date.
Schedule of Pre-Tax Effect of Derivative Instruments and Related Hedged Items in a Fair Value Hedging Relationship | The pre-tax effect of derivative instruments and related hedged items in a fair value hedging relationship were as follows:
Derivative Instrument |  | Hedged Item |  | Location |  | Year |  | Total amounts of income/(expense) line items in the statement of financial performance in which the effects of fair value hedges are recorded |  | Gain/(loss) recognized in earnings on derivative instruments |  | Gain/(loss) recognized in earnings on hedged item
|  |  |  |  |  |  |  | In millions
Three months ended April 30 |  |  |  |  |  |  |  |  |  |
Interest rate contract |  | Fixed-rate debt |  | Interest and other, net |  | 2021 |  | $ | (26) |  |  | $ | (7) |  |  | $ | 7 |
|  |  |  |  |  | 2020 |  | $ | — |  |  | $ | 10 |  |  | $ | (10) |
Six months ended April 30 |  |  |  |  |  |  |  |  |  |
Interest rate contract |  | Fixed-rate debt |  | Interest and other, net |  | 2021 |  | $ | (51) |  |  | $ | (10) |  |  | $ | 10 |
|  |  |  |  |  | 2020 |  | $ | 13 |  |  | $ | 10 |  |  | $ | (10) |
Schedule of Pre-Tax Effect of Derivative Instruments in Cash Flow Hedging Relationships | The pre-tax effect of derivative instruments in cash flow hedging relationships included in Accumulated other comprehensive loss was as follows:
| Three months ended April 30 |  | Six months ended April 30
| 2021 |  | 2020 |  | 2021 |  | 2020
| In millions
Gain/(loss) recognized in Accumulated other comprehensive loss on derivatives: |  |  |  |  |  |  |
Foreign currency contracts | $ | (21) |  |  | $ | 239 |  |  | $ | (387) |  |  | $ | 299 |
Interest rate contracts | $ | — |  |  | $ | (8) |  |  | $ | — |  |  | $ | (8) |
The pre-tax effect of derivative instruments in cash flow hedging relationships included in earnings were as follows:
| Total amounts of income/(expense) line items in the statement of financial performance in which the effects of cash flow hedges are recorded |  | Gain/(loss) reclassified from Accumulated other comprehensive loss into earnings
| Three months ended April 30 |  | Six months ended April 30 |  | Three months ended April 30 |  | Six months ended April 30
| 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020
| In millions
Net revenue | $ | 15,877 |  |  | $ | 12,469 |  |  | $ | 31,523 |  |  | $ | 27,087 |  |  | $ | (146) |  |  | $ | 62 |  |  | $ | (189) |  |  | $ | 123 |
Cost of revenue | (12,437) |  |  | (9,976) |  |  | (24,759) |  |  | (21,722) |  |  | (4) |  |  | (10) |  |  | (10) |  |  | (11) |
Other operating expenses | (2,078) |  |  | (1,667) |  |  | (4,081) |  |  | (3,674) |  |  | 1 |  |  | 1 |  |  | 1 |  |  | — |
Total | $ | 1,362 |  |  | $ | 826 |  |  | $ | 2,683 |  |  | $ | 1,691 |  |  | $ | (149) |  |  | $ | 53 |  |  | $ | (198) |  |  | $ | 112 |
Schedule of Pre-Tax Effect of Derivative Instruments not Designated as Hedging Instruments on the Consolidated Condensed Statements of Earnings | The pre-tax effect of derivative instruments not designated as hedging instruments recognized in Interest and other, net in the Consolidated Condensed Statements of Earnings for the three and six months ended April 30, 2021 and 2020 was as follows:
| Gain/(loss) recognized in earnings on derivative instrument
|  |  | Three months ended April 30 |  | Six months ended April 30
| Location |  | 2021 |  | 2020 |  | 2021 |  | 2020
|  |  | In millions
Foreign currency contracts | Interest and other, net |  | $ | (23) |  |  | $ | 25 |  |  | $ | (9) |  |  | $ | 17 |
Other derivatives | Interest and other, net |  | 2 |  |  | — |  |  | 5 |  |  | 5 |
Total |  |  | $ | (21) |  |  | $ | 25 |  |  | $ | (4) |  |  | $ | 22 |

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