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RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Tables)

12 Months Ended

Oct. 31, 2019

Defined Benefit Plan [Abstract]

Schedule of Defined Benefit Plans Disclosures

For the years ended October 31, 2019, 2018 and 2017, components of net periodic benefit cost (benefit) and other amounts recognized in other comprehensive income were comprised of:

	Defined Benefit Plans																								U.S. Post-Retirement Benefit Plan
	U.S. Plans												Non-U.S. Plans
	2019				2018				2017				2019				2018				2017				2019				2018				2017
	(in millions)
Net periodic benefit cost (benefit)
Service cost — benefits earned during the period	$	20			$	24			$	22			$	14			$	14			$	18			$	1			$	1			$	1
Interest cost on benefit obligation	28				25				21				23				23				23				8				7				7
Expected return on plan assets	(41		)		(37		)		(33		)		(77		)		(85		)		(74		)		(13		)		(13		)		(11		)
Amortization:
Net actuarial loss	10				12				15				27				25				33				9				16				21
Prior service credit	(4		)		(7		)		(8		)		(1		)		(1		)		(1		)		(14		)		(14		)		(15		)
Net periodic benefit cost (benefit)	13				17				17				(14		)		(24		)		(1		)		(9		)		(3		)		3
Curtailments and settlements	—				—				—				2				1				(69		)		—				—				—
Net periodic benefit cost (benefit)	$	13			$	17			$	17			$	(12	)		$	(23	)		$	(70	)		$	(9	)		$	(3	)		$	3
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
Net actuarial loss (gain)	$	77			$	(11	)		$	4			$	78			$	41			$	(145	)		$	11			$	(1	)		$	(16	)
Amortization:
Net actuarial loss	(10		)		(12		)		(15		)		(27		)		(25		)		(33		)		(9		)		(16		)		(21		)
Prior service credit	4				7				8				1				1				1				14				14				15
Settlement	—				—				—				(2		)		(1		)		(24		)		—				—				—
Curtailment	—				—				—				—				—				1				—				—				—
Foreign currency	—				—				—				(1		)		(5		)		1				—				—				—
Total recognized in other comprehensive (income) loss	$	71			$	(16	)		$	(3	)		$	49			$	11			$	(199	)		$	16			$	(3	)		$	(22	)
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss	$	84			$	1			$	14			$	37			$	(12	)		$	(269	)		$	7			$	(6	)		$	(19	)

Schedule of Changes in Fair Value of Plan Assets

As of October 31, 2019 and 2018, the funded status of the defined benefit and post-retirement benefit plans was as follows:

	U.S. Defined Benefit Plans								Non-U.S. Defined Benefit Plans								U.S. Post-Retirement Benefit Plan
	2019				2018				2019				2018				2019				2018
	(in millions)
Change in fair value of plan assets:
Fair value — beginning of year	$	575			$	515			$	1,392			$	1,440			$	172			$	182
Actual return on plan assets	64				6				167				2				18				3
Employer contributions	—				85				26				33				—				—
Settlements	—				—				(25		)		(6		)		—				—
Benefits paid	(24		)		(31		)		(43		)		(42		)		(14		)		(13		)
Other	—				—				(4		)		—				—				—
Currency impact	—				—				25				(35		)		—				—
Fair value — end of year	$	615			$	575			$	1,538			$	1,392			$	176			$	172
Change in benefit obligation:
Benefit obligation — beginning of year	$	650			$	675			$	1,249			$	1,338			$	190			$	207
Service cost	20				24				14				14				1				1
Interest cost	28				25				23				23				8				7
Settlements	—				—				(25		)		(6		)		—				—
Curtailments	—				—				—				—				—				—
Actuarial loss (gain)	101				(43		)		169				(43		)		17				(12		)
Benefits paid	(25		)		(31		)		(43		)		(42		)		(14		)		(13		)
Other	—				—				(8		)		—				—				—
Currency impact	—				—				14				(35		)		—				—
Benefit obligation — end of year	$	774			$	650			$	1,393			$	1,249			$	202			$	190
Overfunded (Underfunded) status of PBO	$	(159	)		$	(75	)		$	145			$	143			$	(26	)		$	(18	)
Amounts recognized in the consolidated balance sheet consist of:
Other assets	$	—			$	—			$	297			$	257			$	—			$	—
Employee compensation and benefits	(1		)		(1		)		—				—				—				—
Retirement and post-retirement benefits	(158		)		(74		)		(152		)		(114		)		(26		)		(18		)
Net asset (liability)(a)	$	(159	)		$	(75	)		$	145			$	143			$	(26	)		$	(18	)
Amounts recognized in accumulated other comprehensive income (loss):
Actuarial losses	$	179			$	112			$	444			$	396			$	29			$	28
Prior service credits	—				(4		)		—				(1		)		(13		)		(28		)
Total	$	179			$	108			$	444			$	395			$	16			$	—

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The amounts in accumulated other comprehensive income expected to be amortized into net periodic benefit cost (benefit) during 2020 are as follows:

	U.S. Defined Benefit Plans				Non-U.S. Defined Benefit Plans				U.S. Post-Retirement Benefit Plan
	(in millions)
Amortization of net prior service credit	$	—			$	—			$	(11	)
Amortization of actuarial net loss	$	19			$	34			$	10

Schedule of Allocation of Plan Assets

The following tables present the fair value of U.S. Defined Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2019 and 2018:

					Fair Value Measurement as of October 31, 2019 Using
	October 31, 2019				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Assets Measured at NAV(b)
	(in millions)
Cash and cash equivalents	$	14			$	—			$	14			$	—			$	—
Equity	428				130				1				—				297
Fixed income	173				14				101				—				58
Other investments	—				—				—				—				—
Total assets measured at fair value	$	615			$	144			$	116			$	—			$	355

^(b) Certain instruments that are measured at fair value using the NAV per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets.

					Fair Value Measurement as of October 31, 2018 Using
	October 31, 2018				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Assets Measured at NAV(b)
	(in millions)
Cash and cash equivalents	$	4			$	—			$	4			$	—			$	—
Equity	392				120				1				—				271
Fixed income	179				14				94				—				71
Other investments	—				—				—				—				—
Total assets measured at fair value	$	575			$	134			$	99			$	—			$	342

^(b) Certain instruments that are measured at fair value using the NAV per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets.

For U.S. Defined Benefit Plans, there was no activity relating to assets measured at fair value using significant unobservable inputs (Level 3) during 2019 and 2018.

The following tables present the fair value of U.S. Post-Retirement Benefit Plan assets classified under the appropriate level of the fair value hierarchy as of October 31, 2019 and 2018:

					Fair Value Measurement as of October 31, 2019 Using
	October 31, 2019				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Assets Measured at NAV(b)
	(in millions)
Cash and cash equivalents	$	5			$	—			$	5			$	—			$	—
Equity	121				37				—				—				84
Fixed income	50				4				29				—				17
Other investments	—				—				—				—				—
Total assets measured at fair value	$	176			$	41			$	34			$	—			$	101

^(b) Certain instruments that are measured at fair value using the NAV per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets.

					Fair Value Measurement as of October 31, 2018 Using
	October 31, 2018				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Assets Measured at NAV(b)
	(in millions)
Cash and cash equivalents	$	1			$	—			$	1			$	—			$	—
Equity	120				37				—				—				83
Fixed income	51				4				27				—				20
Other investments	—				—				—				—				—
Total assets measured at fair value	$	172			$	41			$	28			$	—			$	103

^(b) Certain instruments that are measured at fair value using the NAV per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets.

For U.S. Post-Retirement Benefit Plan, there was no activity relating to assets measured at fair value using significant unobservable inputs (Level 3) during 2019 and 2018.

The following tables present the fair value of Non-U.S. Defined Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2019 and 2018:

					Fair Value Measurement as of October 31, 2019 Using
	October 31, 2019				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Assets Measured at NAV(b)
	(in millions)
Cash and cash equivalents	$	—			$	—			$	—			$	—			$	—
Equity	659				153				—				—				506
Fixed income	879				—				202				—				677
Other investments	—				—				—				—				—
Total assets measured at fair value	$	1,538			$	153			$	202			$	—			$	1,183

^(b) Certain instruments that are measured at fair value using the NAV per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets.

					Fair Value Measurement as of October 31, 2018 Using
	October 31, 2018				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Assets Measured at NAV(b)
	(in millions)
Cash and cash equivalents	$	—			$	—			$	—			$	—			$	—
Equity	791				135				—				—				656
Fixed income	595				—				208				—				387
Other investments	6				—				—				3				3
Total assets measured at fair value	$	1,392			$	135			$	208			$	3			$	1,046

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

Non-U.S. Defined Benefit Plans assets measured at fair value using significant unobservable inputs (Level 3), the following table summarizes the change in balances during 2019 and 2018:

	Year Ended
	October 31,
	2019				2018
	(in millions)
Balance, beginning of year	$	3			$	3
Realized gains	—				—
Unrealized gains/(losses)	—				—
Purchases, sales, issuances, and settlements	(3		)		—
Transfers in (out)	—				—
Balance, end of year	$	—			$	3

The

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

table below presents the combined projected benefit obligation ("PBO"), accumulated benefit obligation ("ABO") and fair value of plan assets, grouping plans using comparisons of the PBO and ABO relative to the plan assets as of October 31, 2019 and 2018:

	2019								2018
	Benefit Obligation				Fair Value of Plan Assets				Benefit Obligation				Fair Value of Plan Assets
								PBO										PBO
	(in millions)								(in millions)
U.S. defined benefit plans where PBO exceeds the fair value of plan assets	$	774			$	615			$	650			$	575
U.S. defined benefit plans where fair value of plan assets exceeds PBO	—				—				—				—
Total	$	774			$	615			$	650			$	575
Non-U.S. defined benefit plans where PBO exceeds the fair value of plan assets	$	396			$	244			$	363			$	249
Non-U.S. defined benefit plans where fair value of plan assets exceeds PBO	997				1,294				886				1,143
Total	$	1,393			$	1,538			$	1,249			$	1,392
	ABO								ABO
U.S. defined benefit plans where ABO exceeds the fair value of plan assets	$	720			$	615			$	609			$	575
U.S. defined benefit plans where the fair value of plan assets exceeds ABO	—				—				—				—
Total	$	720			$	615			$	609			$	575
Non-U.S. defined benefit plans where ABO exceeds the fair value of plan assets	$	383			$	244			$	351			$	249
Non-U.S. defined benefit plans where fair value of plan assets exceeds ABO	991				1,294				879				1,143
Total	$	1,374			$	1,538			$	1,230			$	1,392

Cont

Schedule of Expected Benefit Payments

following table presents expected future benefit payments for the next 10 years.

	U.S. Defined Benefit Plans				Non-U.S. Defined Benefit Plans				U.S. Post-Retirement Benefit Plan
	(in millions)
2020	$	51			$	31			$	17
2021	$	50			$	34			$	18
2022	$	54			$	36			$	17
2023	$	56			$	39			$	16
2024	$	57			$	42			$	15
2025 - 2029	$	286			$	222			$	72

Assu

Schedule of Assumptions Used

mptions used to calculate the net periodic benefit cost (benefit) were as follows:

	Year ended October 31,
	2019		2018
U.S. Defined Benefit Plans:
Discount rate	4.50%		3.75%
Average increase in compensation levels	3.00%		3.00%
Expected long-term return on assets	7.50%		7.50%
Non-U.S. Defined Benefit Plans:
Discount rate	0.54-2.83%		0.59-2.52%
Average increase in compensation levels	2.50-3.00%		2.50-3.25%
Expected long-term return on assets	4.00-6.50%		4.00-6.50%
U.S. Post-Retirement Benefits Plan:
Discount rate	4.25%		3.50%
Expected long-term return on assets	7.50%		7.50%
Current medical cost trend rate	6.00%		6.00%
Ultimate medical cost trend rate	4.00%		3.50%
Medical cost trend rate decreases to ultimate rate in year	2029		2029

Assumptions used to calculate the benefit obligation as of October 31, 2019 and 2018 were as follows:

	Year ended October 31,
	2019		2018
U.S. Defined Benefit Plans:
Discount rate	3.25%		4.50	%
Average increase in compensation levels	3.00%		3.00	%
Non-U.S. Defined Benefit Plans:
Discount rate	0.79-1.89%		0.83-2.83%
Average increase in compensation levels	2.50-3.00%		2.50-3.00%
U.S. Post-Retirement Benefits Plan:
Discount rate	3.00%		4.25	%
Current medical cost trend rate	6.25%		6.00	%
Ultimate medical cost trend rate	4.50%		4.00	%
Medical cost trend rate decreases to ultimate rate in year	2027		2029

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