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DEBT (Notes) | 3 Months Ended
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Jan. 31, 2020
Debt Disclosure [Abstract] |
DEBT | DEBT The following table summarizes the components of our long-term debt:
| January 31, 2020 |  | October 31, 2019
| (in millions)
2024 Senior Notes at 4.55% ($600 face amount less unamortized costs of $3 and $3) | $ | 597 |  |  | $ | 597 |
2027 Senior Notes at 4.60% ($700 face amount less unamortized costs of $5 and $5) | 695 |  |  | 695 |
2029 Senior Notes at 3.00% ($500 face amount less unamortized costs of $4 and $4) | 496 |  |  | 496 |
Total debt | $ | 1,788 |  |  | $ | 1,788 |
Short-Term Debt Revolving Credit Facility We maintain a credit facility (the “Revolving Credit Facility”) that provides for a $450 million, five-year unsecured revolving credit facility that will expire on February 15, 2022. In addition, the Revolving Credit Facility permits us to increase the total commitments under this credit facility by up to $150 million in the aggregate on one or more occasions upon request. We may use amounts borrowed under the facility for general corporate purposes. As of January 31, 2020 and October 31, 2019, we had no borrowings outstanding under the Revolving Credit Facility. We were in compliance with the covenants of the Revolving Credit Facility during the three months ended January 31, 2020. Long-Term Debt There have been no changes to the principal, maturity, interest rates and interest payment terms of the senior notes during the three months ended January 31, 2020 as compared to the senior notes described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2019. As of January 31, 2020 and October 31, 2019, we had $38 million and $37 million, respectively, of outstanding letters of credit and surety bonds unrelated to the credit facility that were issued by various lenders. The fair value of our long-term debt, calculated from quoted prices that are primarily Level 1 inputs under the accounting guidance fair value hierarchy, exceeded the carrying value by approximately $175 million and $139 million as of January 31, 2020 and October 31, 2019, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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