v3.25.3

Taxes on Earnings (Tables)

12 Months Ended

Oct. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Earnings

The domestic and foreign components of earnings before taxes were as follows:

			For the fiscal years ended October 31
h			2025						2024						2023
			In millions
U.S.			$	107					$	537					$	650
Non-U.S.			2,561						2,742						2,287
			$	2,668					$	3,279					$	2,937

Schedule of (Benefit from) Provision for Taxes on Earnings

The provision for (benefit from) taxes on earnings was as follows:

			For the fiscal years ended October 31
			2025						2024						2023
			In millions
U.S. federal taxes:
Current			$	(188)					$	245					$	226
Deferred			(121)						34						(549)
Non-U.S. taxes:
Current			328						357						337
Deferred			95						(193)						(305)
State taxes:
Current			(13)						33						42
Deferred			38						28						(77)
			$	139					$	504					$	(326)

Schedule of Differences Between U.S. Federal Statutory Income Tax Rate and HP's Effective Tax Rate

The differences between the U.S. federal statutory income tax rate and HP’s effective tax rate were as follows:

			For the fiscal years ended October 31
			2025						2024						2023
U.S. federal statutory income tax rate from continuing operations			21.0		%				21.0		%				21.0		%
State income taxes, net of federal tax benefit			2.4		%				2.2		%				1.7		%
Impact of foreign earnings including GILTI and FDII, net			(2.9)		%				(1.0)		%				(1.1)		%
Research and development (“R&D”) credit			(2.3)		%				(1.1)		%				(1.0)		%
Valuation allowances			(2.5)		%				(7.1)		%				(7.3)		%
Uncertain tax positions and audit settlements			(10.2)		%				1.0		%				2.4		%
Changes in tax laws or rates enacted			1.4		%				0.3		%				(0.3)		%
Impact of internal reorganization			—		%				—		%				(27.4)		%
Other, net			(1.7)		%				0.1		%				0.9		%
			5.2		%				15.4		%				(11.1)		%

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of unrecognized tax benefits is as follows:

			For the fiscal years ended October 31
			2025						2024						2023
			In millions
Balance at beginning of year			$	1,217					$	1,137					$	1,045
Increases:
For current year’s tax positions			85						82						61
For prior years’ tax positions			14						52						186
Decreases:
For prior years’ tax positions			(79)						(9)						(35)
Statute of limitations expirations			(338)						(33)						(8)
Settlements with taxing authorities			(34)						(12)						(112)
Balance at end of year			$	865					$	1,217					$	1,137

Schedule of Significant Components of Deferred Tax Assets and Deferred Tax Liabilities

The significant components of deferred tax assets and deferred tax liabilities were as follows:

			As of October 31
			2025						2024
			In millions
Deferred tax assets:
Loss and credit carryforwards			$	6,792					$	7,050
Intercompany transactions—excluding inventory			208						357
Fixed assets			107						113
Warranty			81						100
Employee and retiree benefits			226						242
Deferred revenue			244						240
Capitalized research and development			1,187						1,014
Operating lease liabilities			244						272
Investment in partnership			672						710
Other			393						395
Gross deferred tax assets			10,154						10,493
Valuation allowances			(6,479)						(6,688)
Total deferred tax assets			3,675						3,805
Deferred tax liabilities:
Unremitted earnings of foreign subsidiaries			(36)						(107)
Right-of-use assets from operating leases			(211)						(235)
Intangible assets			(121)						(159)
Cash flow hedges			(5)						(24)
Total deferred tax liabilities			(373)						(525)
Net deferred tax assets			$	3,302					$	3,280

Deferred tax assets and liabilities included in the Consolidated Balance Sheets as follows:

			As of October 31
			2025						2024
			In millions
Deferred tax assets			$	3,318					$	3,311
Deferred tax liabilities			(16)						(31)
Total			$	3,302					$	3,280

Schedule of Deferred Tax Assets for Net Operating Loss Carryforwards

As of October 31, 2025, HP had recorded deferred tax assets for net operating loss (“NOL”) carryforwards as follows:

			Gross NOLs						Deferred Taxes on NOLs						Valuation allowance						Initial Year of Expiration
			In millions
Federal			$	33					$	7					$	(1)					2026
State			1,817						97						(23)						2026
Foreign			24,134						6,471						(6,027)						2028
Balance at end of year			$	25,984					$	6,575					$	(6,051)

Schedule of Deferred Tax Assets for Various Tax Credit Carryforwards

As of October 31, 2025, HP had recorded deferred tax assets for various tax credit carryforwards as follows:

			Carryforward						Valuation Allowance						Initial Year of Expiration
			In millions
Tax credits in state and foreign jurisdictions			$	307					$	(61)					2026
U.S. R&D and other credits			52						—						2045
Balance at end of year			$	359					$	(61)

Schedule of Deferred Tax Asset Valuation Allowance and Changes

The deferred tax asset valuation allowance and changes were as follows:

			For the fiscal years ended October 31
			2025						2024						2023
			In millions
Balance at beginning of year			$	6,688					$	6,994					$	7,592
Income tax (benefit) expense			(230)						(300)						(650)
Goodwill, other comprehensive loss (income), currency translation and charges to other accounts			21						(6)						52
Balance at end of year			$	6,479					$	6,688					$	6,994

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