v3.26.1
Supplementary Financial Information
 9 Months Ended
Jul. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplementary Financial Information Supplementary Financial Information
Cash, Cash Equivalents and Restricted Cash
As of
July 31, 2026October 31, 2025
In millions
Cash and cash equivalents$4,169 $3,690 
Restricted cash(1)
— 15 
$4,169 $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:
Nine months ended July 31, 2026
In millions
Balance at beginning of period$83 
Current-period allowance for credit losses(18)
Deductions, net of recoveries(8)
Balance at end of period$57 
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 July 31, 2026 and October 31, 2025 were not material.
The following is a summary of the activity under these arrangements:
Three months ended July 31Nine months ended July 31
202620252026

2025
In millions
Balance at beginning of period(1)
$289 $217 $117 $284 
Trade receivables sold1,729 3,085 7,153 9,259 
Cash receipts(2,009)(3,184)(7,264)(9,431)
Foreign currency and other(5)2 (2)8 
Balance at end of period(1)
$4 $120 $4 $120 
(1)    Amounts outstanding from third parties reported in Accounts receivable in the Condensed Consolidated Balance Sheets.
Inventory
As of
July 31, 2026October 31, 2025
In millions
Finished goods$5,958 $4,721 
Purchased parts and fabricated assemblies4,364 3,791 
$10,322 $8,512 

Other Current Assets
As of
July 31, 2026October 31, 2025
In millions
Supplier and other receivables
$2,468 $1,981 
Prepaid and other current assets
1,486 1,577 
Value-added taxes receivable1,133 986 
$5,087 $4,544 

Property, Plant and Equipment, Net
As of
July 31, 2026October 31, 2025
In millions
Land, buildings and leasehold improvements$2,634 $2,619 
Machinery and equipment, including equipment held for lease6,251 5,867 
8,885 8,486 
Accumulated depreciation(5,775)(5,437)
$3,110 $3,049 

Other Non-Current Assets
As of
July 31, 2026October 31, 2025
In millions
Deferred tax assets$3,413 $3,318 
Right-of-use assets1,086 1,129 
Intangible assets(1)
802 1,012 
Prepaid pension and post-retirement benefit assets(2)
220 425 
Deposits and prepaid187 316 
Other1,411 1,361 
$7,119 $7,561 
(1)    During the three and nine months ended July 31, 2026, the Company incurred impairment charges of $23 million and $55 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 EER benefits to be paid from the U.S. defined pension plan in connection with the Fiscal 2026 Plan. See Note 3 “Restructuring and Other Charges” for further information.
Other Current Liabilities
As of
July 31, 2026October 31, 2025
In millions
Sales and marketing programs$3,476 $3,103 
Deferred revenue1,761 1,609 
Other accrued taxes1,410 1,258 
Employee compensation and benefits1,272 965 
Operating lease liabilities409 401 
Warranty354 401 
Tax liability101 297 
Other2,505 2,328 
$11,288 $10,362 

Other Non-Current Liabilities
As of
July 31, 2026October 31, 2025
In millions
Deferred revenue$1,675 $1,632 
Operating lease liabilities770 815 
Pension, post-retirement, and post-employment liabilities552 564 
Tax liability445 496 
Deferred tax liability18 16 
Other502 513 
$3,962 $4,036 

Interest and Other, Net
Three months ended July 31Nine months ended July 31
202620252026

2025
In millions
Interest expense on borrowings$(96)$(111)$(293)$(329)
Factoring costs(16)(32)(61)(101)
Certain litigation benefits
— 52 — 52 
Non-operating retirement-related credits6 3 28 13 
Other, net12 (4)25 (16)
$(94)$(92)$(301)$(381)
Net Revenue by Region
Three months ended July 31Nine months ended July 31
202620252026

2025
In millions
Americas$6,486 $6,107 $17,921 $17,419 
Europe, Middle East and Africa
5,181 4,502 15,377 13,649 
Asia-Pacific and Japan4,010 3,323 11,225 9,588 
Total net revenue$15,677 $13,932 $44,523 $40,656 
Value of Remaining Performance Obligations
As of July 31, 2026, the estimated value of transaction price allocated to remaining performance obligations was $4.2 billion. HP expects to recognize approximately $2.0 billion of the unearned amount in next 12 months and $2.2 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 July 31, 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 nine months ended July 31, 2026, was primarily driven by sales of fixed-price support and maintenance services, partially offset by $1.2 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 July 31, 2026 and October 31, 2025, HP had $10.9 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 July 31, 2026 and October 31, 2025, the Company’s outstanding payment obligations that suppliers elected to sell to participating financial institutions were immaterial and $0.1 billion, respectively.