Borrowings

12 Months Ended

Oct. 31, 2024

Debt Disclosure [Abstract]

Borrowings

Borrowings

 Notes Payable and Short-Term Borrowings

	As of October 31
	2024				2023
	Amount Outstanding		Weighted-Average Interest Rate		Amount Outstanding		Weighted-Average Interest Rate
	In millions
Current portion of long-term debt	$	1,358	5.0	%	$	179	6.0	%
Notes payable to banks, lines of credit and other	48		—	%	51		—	%
Total notes payable and short-term borrowings	$	1,406			$	230

Long-Term Debt

	As of October 31
	2024		2023
	In millions
U.S. Dollar Global Notes(1)
$1,200 issued at discount to par at a price of 99.863% at 6.0%, due September 2041	$	1,199	$	1,199
$1,150 issued at discount to par at a price of 99.769% at 2.2%, due June 2025	1,150		1,149
$1,000 issued at discount to par at a price of 99.718% at 3.00%, due June 2027	999		999
$850 issued at discount to par at a price of 99.790% at 3.4%, due June 2030	503		503
$1,000 issued at discount to par at a price of 99.808% at 1.45%, due June 2026	521		521
$1,000 issued at discount to par at a price of 99.573% at 2.65%, due June 2031(2)	997		997
$1,000 issued at discount to par at a price of 99.767% at 4.00%, due April 2029	999		999
$1,000 issued at discount to par at a price of 99.966% at 4.20%, due April 2032	676		676
$900 issued at discount to par at a price of 99.841% at 4.75%, due January 2028	899		899
$1,100 issued at discount to par at a price of 99.725% at 5.50%, due January 2033	1,098		1,097
$500 issued at par at a price of 100% at 4.75%, due March 2029	3		3
	9,044		9,042
Other borrowings at 1.47%-8.30%, due in fiscal years 2025-2030	645		506
Fair value adjustment related to hedged debt	(21)		(58)
Unamortized debt issuance cost	(47)		(57)
Current portion of long-term debt	(1,358)		(179)
Total long-term debt	$	8,263	$	9,254

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

(2)HP allocated an amount equal to the net proceeds to finance or refinance, in whole or in part, environmentally and socially responsible eligible projects in the following eight areas: renewable energy; green buildings; energy efficiency; clean transportation; pollution prevention and control; eco-efficient and/or circular economy products, production technologies and processes; environmentally sustainable management of living natural resources and land use; and socioeconomic advancement and empowerment.

As disclosed in Note 10, “Financial Instruments”, HP uses interest rate swaps to mitigate some of the exposure of its debt portfolio to changes in fair value resulting from changes in benchmark interest rates. Interest rates shown in the table of long-term debt have not been adjusted to reflect the impact of any interest rate swaps.

As of October 31, 2024, aggregate future maturities of debt at face value (excluding unamortized debt issuance cost of $47 million, discounts on debt issuance of $11 million and fair value adjustment related to hedged debt of $21 million), including other borrowings were as follows: 

Fiscal year	In millions
2025	$	1,419
2026	720
2027	1,133
2028	972
2029	1,023
Thereafter	4,481
Total	$	9,748

Commercial Paper

As of October 31, 2024, HP maintained a U.S. commercial paper program for the issuance of U.S. dollar-denominated commercial paper up to a maximum aggregate principal amount of $6.0 billion. The principal amount outstanding under this program and certain short-term borrowings at any time cannot exceed a $6.0 billion authorization by HP’s Board of Directors.

Credit Facilities

As of October 31, 2024, HP maintained a $5.0 billion 5-year sustainability-linked senior unsecured committed revolving credit facility (the “New Revolving Facility”), which HP entered into on August 1, 2024. Commitments under the New Revolving Facility will be available until August 1, 2029. Commitment fees, interest rates and other terms of borrowing under the New Revolving Facility vary based on HP’s external credit ratings and certain sustainability metrics. Funds borrowed under the New Revolving Facility may be used for general corporate purposes. As of October 31, 2023, HP had maintained a $5.0 billion sustainability-linked senior unsecured committed revolving credit facility for general corporate purposes. In March 2024, the $1.0 billion senior unsecured committed 364-day revolving credit facility matured in accordance with its terms. Additionally, commitments under the previous $5.0 billion sustainability-linked senior unsecured committed revolving credit facility were terminated concurrently with the execution of the New Revolving Facility.

As of October 31, 2024, HP was in compliance with the covenants in the credit agreement governing the revolving credit facility.

Available Borrowing Resources

As of October 31, 2024, HP had available borrowing resources of $0.9 billion from uncommitted lines of credit in addition to funds available under the revolving credit facility.