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DERIVATIVES (Tables) | 3 Months Ended
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Jan. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Aggregated notional amounts by currency and designation | The aggregated notional amounts by currency and designation as of January 31, 2023 were as follows:
|  | Derivatives in Cash Flow Hedging Relationships |  | Derivatives Not Designated as Hedging Instruments
|  | Forward Contracts |  |  |  | Forward Contracts |  |
Currency |  | Buy/(Sell) |  |  |  | Buy/(Sell) |  |
|  | (in millions)
Euro |  | $ | 5 |  |  |  |  | $ | 10 |  |  |
British Pound |  | 18 |  |  |  |  | (39) |  |  |
Singapore Dollar |  | 35 |  |  |  |  | 37 |  |  |
Malaysian Ringgit |  | 119 |  |  |  |  | 17 |  |  |
Japanese Yen |  | (162) |  |  |  |  | (72) |  |  |
Other currencies |  | (19) |  |  |  |  | (41) |  |  |
Total |  | $ | (4) |  |  |  |  | $ | (88) |  |  |
Gross fair values and balance sheet location of derivative instruments held in the consolidated balance sheet | Derivative instruments are subject to master netting arrangements and are disclosed gross in the condensed consolidated balance sheet. The gross fair values and balance sheet presentation of derivative instruments held as of January 31, 2023 and October 31, 2022 were as follows:
Fair Values of Derivative Instruments
Assets Derivatives |  | Liabilities Derivatives
|  | Fair Value |  |  |  | Fair Value
Balance Sheet Location |  | January 31, 2023 |  | October 31, 2022 |  | Balance Sheet Location |  | January 31, 2023 |  | October 31, 2022
(in millions)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 12 |  |  | $ | 18 |  |  | Other accrued liabilities |  | $ | 8 |  |  | $ | 10 |
Interest rate swap contracts: |  |  |  |  |  |  |  |  |  |
Other assets |  | 109 |  |  | 133 |  |  |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |
Other current assets |  | 3 |  |  | 3 |  |  | Other accrued liabilities |  | 4 |  |  | 2 |
Total derivatives |  | $ | 124 |  |  | $ | 154 |  |  |  |  | $ | 12 |  |  | $ | 12 |
Effect of derivative instruments for foreign exchange contracts in the consolidated statement of operations | The effect of derivative instruments for foreign exchange contracts designated as hedging instruments and for those not designated as hedging instruments in our condensed consolidated statement of operations was as follows:
|  |  | Three Months Ended
|  |  | January 31,
|  |  |  |  | 2023 |  | 2022
|  |  |  |  | (in millions)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Cash Flow Hedges |  |  |  |  |  |  |
Interest rate swap contracts: |  |  |  |  |  |  |
Gain (loss) recognized in accumulated other comprehensive income (loss) |  |  |  |  | $ | (24) |  |  | $ | 8 |
Foreign exchange contracts: |  |  |  |  |  |  |
Gain (loss) recognized in accumulated other comprehensive income (loss) |  |  |  |  | $ | (3) |  |  | $ | (3) |
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings: |  |  |  |  |  |  |
Cost of products |  |  |  |  | $ | 4 |  |  | $ | 1 |
Selling, general and administrative |  |  |  |  | $ | (2) |  |  | $ | (1) |
Gain (loss) excluded from effectiveness testing recognized in earnings based on amortization approach: |  |  |  |  |  |  |
Cost of products |  |  |  |  | $ | 1 |  |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Gain (loss) recognized in: |  |  |  |  |  |  |
Other income (expense), net |  |  |  |  | $ | (4) |  |  | $ | 3 |

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