v3.26.1
Supplementary Financial Information
 6 Months Ended
Apr. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplementary Financial Information Supplementary Financial Information
Cash, Cash Equivalents and Restricted Cash
 As of
 April 30, 2026October 31, 2025
 In millions
Cash and cash equivalents$3,703 $3,690 
Restricted cash(1)
— 15 
$3,703 $3,705 
(1)    Restricted cash is related to amounts collected and held on behalf of a third party for trade receivables previously sold.
Accounts Receivable
The allowance for credit losses related to accounts receivable and changes were as follows:
 Six months ended April 30, 2026
 In millions
Balance at beginning of period$83 
Current-period allowance for credit losses(20)
Deductions, net of recoveries(5)
Balance at end of period$58 
HP utilizes certain third-party arrangements in the normal course of business as part of HP’s cash and liquidity management and also to provide liquidity to certain partners to facilitate their working capital requirements. These financing arrangements, which in certain circumstances may contain partial recourse, result in a transfer of HP’s receivables and risk to the third-party. As these transfers qualify as true sales under the applicable accounting guidance, the receivables are de-recognized from the Condensed Consolidated Balance Sheets upon transfer, and HP receives a payment for the receivables from the third-party within a mutually agreed upon time period. For arrangements involving an element of recourse, the recourse obligation is measured using market data from similar transactions and reported as a current liability in the Condensed Consolidated Balance Sheets. The recourse obligations as of April 30, 2026 and October 31, 2025 were not material.
The following is a summary of the activity under these arrangements:
Three months ended April 30Six months ended April 30
 202620252026

2025
 In millions
Balance at beginning of period(1)
$199 $133 $117 $284 
Trade receivables sold2,610 3,125 5,424 6,174 
Cash receipts(2,518)(3,056)(5,255)(6,247)
Foreign currency and other(2)15 3 6 
Balance at end of period(1)
$289 $217 $289 $217 
(1)    Amounts outstanding from third parties reported in Accounts receivable in the Condensed Consolidated Balance Sheets.
Inventory
 As of
 April 30, 2026October 31, 2025
 In millions
Finished goods$4,938 $4,721 
Purchased parts and fabricated assemblies4,265 3,791 
$9,203 $8,512 

Other Current Assets
 As of
 April 30, 2026October 31, 2025
 In millions
Supplier and other receivables
$2,363 $1,981 
Prepaid and other current assets
1,526 1,577 
Value-added taxes receivable1,064 986 
$4,953 $4,544 

Property, Plant and Equipment, Net
 As of
 April 30, 2026October 31, 2025
 In millions
Land, buildings and leasehold improvements$2,668 $2,619 
Machinery and equipment, including equipment held for lease6,131 5,867 
8,799 8,486 
Accumulated depreciation(5,720)(5,437)
$3,079 $3,049 

Other Non-Current Assets
 As of
 April 30, 2026October 31, 2025
 In millions
Deferred tax assets$3,409 $3,318 
Right-of-use assets1,094 1,129 
Intangible assets(1)
878 1,012 
Prepaid pension and post-retirement benefit assets(2)
199 425 
Deposits and prepaid188 316 
Other1,375 1,361 
$7,143 $7,561 
(1)    During the three and six months ended April 31, 2026, the Company incurred impairment charges of $32 million related to acquired customer contracts, customer lists and distribution agreements and technology and patents related to the Personal Systems segment.
(2)    Decrease relates to the reclassification of liability related to the EER plan of $280 million for pension and post-retirement plan special termination benefits. See Note 3 “Restructuring and Other Charges” for further information.
Other Current Liabilities
 As of
 April 30, 2026October 31, 2025
 In millions
Sales and marketing programs$3,103 $3,103 
Deferred revenue1,713 1,609 
Other accrued taxes1,265 1,258 
Employee compensation and benefits984 965 
Operating lease liabilities412 401 
Warranty373 401 
Tax liability109 297 
Other2,264 2,328 
$10,223 $10,362 

Other Non-Current Liabilities
 As of
 April 30, 2026October 31, 2025
In millions
Deferred revenue$1,668 $1,632 
Operating lease liabilities786 815 
Pension, post-retirement, and post-employment liabilities590 564 
Tax liability441 496 
Deferred tax liability17 16 
Other516 513 
$4,018 $4,036 

Interest and Other, Net
 Three months ended April 30Six months ended April 30
 202620252026

2025
 In millions
Interest expense on borrowings$(98)$(114)$(197)$(218)
Factoring costs(23)(32)(45)(69)
Non-operating retirement-related credits12 4 22 10 
Other, net(10)(6)13 (12)
$(119)$(148)$(207)$(289)
Net Revenue by Region
Three months ended April 30Six months ended April 30
 202620252026

2025
 In millions
Americas$5,857 $5,793 $11,435 $11,312 
Europe, Middle East and Africa
4,971 4,393 10,196 9,147 
Asia-Pacific and Japan3,580 3,034 7,215 6,265 
Total net revenue$14,408 $13,220 $28,846 $26,724 
Value of Remaining Performance Obligations
As of April 30, 2026, the estimated value of transaction price allocated to remaining performance obligations was $4.2 billion. HP expects to recognize approximately $1.9 billion of the unearned amount in next 12 months and $2.3 billion thereafter.
HP has elected the practical expedients and accordingly does not disclose the aggregate amount of the transaction price allocated to remaining performance obligations if:
•the contract has an original expected duration of one year or less; or
•the revenue from the performance obligation is recognized over time on an as-invoiced basis when the amount corresponds directly with the value to the customer; or
•the portion of the transaction price that is variable in nature is allocated entirely to a wholly unsatisfied performance obligation.
The remaining performance obligations are subject to change and may be affected by various factors, such as termination of contracts, contract modifications and adjustment for currency.
Contract Liabilities
As of April 30, 2026 and October 31, 2025, HP’s contract liabilities balances were $3.4 billion and $3.2 billion, respectively, included in Other current liabilities and Other non-current liabilities in the Condensed Consolidated Balance Sheets.
The increase in the contract liabilities balance for the six months ended April 30, 2026, was primarily driven by sales of fixed-price support and maintenance services, partially offset by $1.0 billion of revenue recognized that was included in the contract liabilities balance as of October 31, 2025.
Supplier Finance Programs
HP facilitates voluntary supplier finance programs to provide certain suppliers the opportunity to sell their right to HP’s payment obligations to participating financial institutions. Under these programs, HP agrees to pay the participating financial institutions the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices. Participation by suppliers in these programs has no impact on the payment terms and amounts due from HP. HP does not have an economic interest in a supplier's participation in the program and is not a party to the agreement between the supplier and the financial institutions. In connection with these programs, HP does not pledge assets or other forms of guarantees as security for the committed payment to the participating financial institutions. For certain programs, HP pays a monthly service fee to a third-party administrator that provides the supplier finance platform and related support. HP and the participating financial institutions may terminate the agreement upon at least 30 days notice. As of April 30, 2026 and October 31, 2025, HP had $9.1 billion and $8.9 billion respectively, in obligations outstanding (i.e., unpaid invoices) that were confirmed as valid under the supplier finance programs. These obligations are included within the Accounts payable line item of HP’s Condensed Consolidated Balance Sheets. As of both April 30, 2026 and October 31, 2025, the Company’s outstanding payment obligations that suppliers elected to sell to participating financial institutions were $0.1 billion.