INVESTMENTS

12 Months Ended

Oct. 31, 2019

Investments, Debt and Equity Securities [Abstract]

12.

INVESTMENTS

The net book value of investments as of October 31, 2020 and 2019 was as follows:



	October 31,
	2020		2019
	(in millions)
Long-Term
Equity investments	$	52	$	37
Equity investments - other	9		9
Total	$	61	$	46

Equity investments are reported at fair value, with gains or losses resulting from changes in fair value recognized in earnings. Equity investments without readily determinable fair values that are measured at cost adjusted for observable changes in price or impairments are presented as "Equity investments - other" in the table above.

All of our investments are subject to periodic impairment review. The impairment analysis requires significant judgment to identify events or circumstances that would likely have a significant adverse effect on the future value of the investment. There was no impairment recognized in 2020, 2019 and 2018. Realized gains and losses from the sale of investments are recorded in earnings.

Net recognized gains (losses) on equity investments were as follows:



	Year Ended October 31,
	2020		2019		2018
	(in millions)
Net realized gains on investments sold	$	—	$	1	$	—
Net unrealized gains on investments still held	11		6		—

Prior to adoption of ASU 2016-01 effective November 1, 2018 using a modified retrospective approach, the unrealized gain or loss resulting from a change in the fair value of our equity investments was recognized in accumulated other comprehensive income (loss) and was a loss of $17 million for 2018. During the year ended October 31, 2019, we received proceeds of $7 million from the sale of an investment, classified as “Equity investments – other,” which was sold at cost.