Accumulated impairment losses

[Table of Contents](#i43adbcd383bc4dc48977980bcb999d17_79) HP INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements (Continued)  
Note 8: Goodwill and Intangible AssetsGoodwill allocated to HP’s reportable segments and changes in the carrying amount of goodwill were as follows:  

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Personal Systems |  | Printing |  | Corporate Investments |  | Total |  |  |
|  | In millions |  |  |
| Balance at October 31, 2019(1) | $ | 2,613  |  |  | $ | 3,759  |  |  | $ | —  |  |  | $ | 6,372  |  |  |  |
| Acquisitions/adjustments | 8  |  |  | —  |  |  | —  |  |  | 8  |  |  |  |
| Foreign currency translation | —  |  |  | —  |  |  | —  |  |  | —  |  |  |  |
| Balance at October 31, 2020(1) | 2,621  |  |  | 3,759  |  |  | —  |  |  | 6,380  |  |  |  |
| Acquisitions/adjustments | 284  |  |  | 14  |  |  | 102  |  |  | 400  |  |  |  |
| Foreign currency translation  | —  |  |  | 23  |  |  | —  |  |  | 23  |  |  |  |
| Balance at October 31, 2021(1) | $ | 2,905  |  |  | $ | 3,796  |  |  | $ | 102  |  |  | $ | 6,803  |  |  |  |

(1)Goodwill is net of accumulated impairment losses of $0.8 billion related to Corporate Investments.Goodwill is tested for impairment at the reporting unit level. As of October 31, 2021, our reporting units are consistent with the reportable segments identified in Note 2, “Segment Information”. There were no goodwill impairments in fiscal years 2021, 2020 and 2019. Personal Systems had a negative carrying amount of net assets as of October 31, 2021, 2020 and 2019 primarily as a result of a favorable cash conversion cycle. Intangible AssetsHP’s acquired intangible assets were composed of: 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | As of October 31, 2021 |  | As of October 31, 2020 |
|  |  | Gross |  | Accumulated Amortization |  |  |  | Net |  | Gross |  | Accumulated Amortization |  |  |  | Net |
|  |  | In millions |
| Customer contracts, customer lists and distribution agreements |  | $ | 526  |  |  | $ | 212  |  |  |  |  | $ | 314  |  |  | $ | 382  |  |  | $ | 149  |  |  |  |  | $ | 233  |  |
| Technology and patents  |  | 814  |  |  | 425  |  |  |  |  | 389  |  |  | 621  |  |  | 332  |  |  |  |  | 289  |  |
| Trade name and trademarks |  | 95  |  |  | 14  |  |  |  |  | 81  |  |  | 26  |  |  | 8  |  |  |  |  | 18  |  |
| Total intangible assets |  | $ | 1,435  |  |  | $ | 651  |  |  |  |  | $ | 784  |  |  | $ | 1,029  |  |  | $ | 489  |  |  |  |  | $ | 540  |  |

  
For the fiscal year 2021, the increase in gross intangible assets was primarily due to intangible assets resulting from acquisitions. The intangibles acquired during the year were based on preliminary fair value estimates.The weighted-average useful lives of intangible assets acquired during the period are as follows:

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|   | Weighted-Average Useful Life (in years) |
| Customer contracts and customer lists  | 5 |
| Technology and patents  | 7 |
| Trade name and trademarks | 15 |

  
  

