HP Inc. Files 2024 10-K Report

TL;DR

HP's 2024 10-K is in! Full financial picture for the year ending Oct 31, 2024, filed Dec 13. #HPQ

AI Summary

HP Inc. filed its 2024 10-K report on December 13, 2024, for the fiscal year ending October 31, 2024. The company, formerly Hewlett Packard Co., is headquartered at 1501 Page Mill Road, Palo Alto, CA. The filing covers its financial performance and operations within the Computer & Office Equipment industry. Key financial details and operational highlights are detailed within the comprehensive report.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed overview of HP Inc.'s financial health, strategic initiatives, and risk factors for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a large, publicly traded company in the competitive tech sector, HP Inc. faces inherent market, operational, and economic risks detailed in its 10-K.

Key Numbers

• 2024 — Fiscal Year End (The report covers the fiscal year ending October 31, 2024.)
• 10-K — Filing Type (This document is HP Inc.'s annual report on Form 10-K.)
• 0000047217-24-000080 — Accession Number (Unique identifier for this SEC filing.)

Key Players & Entities

• HP Inc. (company) — Filer of the 10-K report
• Hewlett Packard Co. (company) — Former name of HP Inc.
• 1501 Page Mill Road, Palo Alto, CA (location) — HP Inc.'s business and mailing address
• 20241213 (date) — Date the 10-K was filed
• 20241031 (date) — Fiscal year end date for the report

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share HPQ New York Stock Exchange

Filing Documents

• hpq-20241031.htm (10-K) — 3447KB
• exhibit10hhh-hpagreementre.htm (EX-10.(H)(H)(H)) — 38KB
• exhibit19-insidertradingpo.htm (EX-19) — 129KB
• hp10-31x24ex21subsidiaries.htm (EX-21) — 130KB
• exhibit23-consent.htm (EX-23) — 10KB
• hp-103124xexhibit311q424.htm (EX-31.1) — 9KB
• hp-103124xexhibit312q424.htm (EX-31.2) — 10KB
• hp-103124xexhibit32q424.htm (EX-32) — 10KB
• hpq-20241031_g1.jpg (GRAPHIC) — 102KB
• 0000047217-24-000080.txt ( ) — 19974KB
• hpq-20241031.xsd (EX-101.SCH) — 113KB
• hpq-20241031_cal.xml (EX-101.CAL) — 186KB
• hpq-20241031_def.xml (EX-101.DEF) — 550KB
• hpq-20241031_lab.xml (EX-101.LAB) — 1286KB
• hpq-20241031_pre.xml (EX-101.PRE) — 984KB
• hpq-20241031_htm.xml (XML) — 4057KB

Forward-Looking Statements

Forward-Looking Statements 3 PART I

Risk Factors

Item 1A. Risk Factors 12

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 28 Item 1C. Cybersecurity 28

Properties

Item 2. Properties 29

Legal Proceedings

Item 3. Legal Proceedings 30

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31

Reserved

Item 6. Reserved 33

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 34

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 48

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 49

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 106

Controls and Procedures

Item 9A. Controls and Procedures 106

Other Information

Item 9B. Other Information 106

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 106 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 107

Executive Compensation

Item 11. Executive Compensation 107

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 107

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 107

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 108 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 109

Form 10-K Summary

Item 16. Form 10-K Summary 115 In this report on Form 10-K, for all periods presented, "we", "us", "our", the "company", the "Company", "HP" and "HP Inc." refer to HP Inc. (formerly Hewlett-Packard Company) and its consolidated subsidiaries. 2

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K, including "Business" in Item 1 and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 7, contains forward-looking statements based on current expectations and assumptions that involve risks and uncertainties. If the risks or uncertainties ever materialize or the assumptions prove incorrect, they could affect the business and results of operations of HP Inc. and its consolidated subsidiaries which may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to projections of net revenue, margins, expenses, effective tax rates, net earnings, net earnings per share, cash flows, benefit plan funding, deferred taxes, share repurchases, foreign currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring and other charges, planned structural cost reductions and productivity initiatives; any statements of the plans, strategies and objectives of management for future operations, including, but not limited to, our business model and transformation, our sustainability goals, our go-to-market strategy, the execution of restructuring plans and any resulting cost savings (including the Fiscal 2023 Plan (as defined herein)), net revenue or profitability improvements or other financial impacts; any statements concerning the expected development, demand, performance, market share or competitive performance relating to products or services; any statements concerning potential supply constraints, component shortages, manufacturing disruptions or logistics challenges; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any s

Business

ITEM 1. Business. Overview HP is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming and other related technologies. We believe artificial intelligence ("AI") is playing a critical role in the transformation of how people live and work, and customers are beginning to recognize the benefits in security, speed and cost. Our high-performing product portfolio includes HP's new line of AI PCs and workstations built with the computing power to enable local AI processing for enhanced performance and features as well as intelligent print features incorporated into our home, office and graphics solutions. Our broad range of security capabilities are designed to protect an increasingly distributed user base through security enhanced PCs and printers, hardware-enforced endpoint security software (for both HP and non-HP PCs), and endpoint security services. Our security solutions provide layered resiliency using enhanced features such as containment and isolation technology as well as the use of AI deep-learning to identify and remove malware threats. We have three reportable segments: Personal Systems, Printing and Corporate Investments. Personal Systems Personal Systems offers desktops, notebooks, and workstations (including HP's portfolio of AI PCs and workstations), thin clients, retail point-of-sale ("POS") systems, displays, hybrid systems, software, solutions including endpoint security and services. Personal Systems includes support and deployment, configurations and extended warranty services and maintains multi-operating system and multi-architecture strategies using Microsoft Windows and Google Chrome operating systems, and predominantly uses processors from Intel, AMD, and NVIDIA. Personal S

View Full Filing

View this 10-K filing on SEC EDGAR