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FAIR VALUE MEASUREMENTS
 3 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS .    FAIR VALUE MEASUREMENTS
The authoritative guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, we consider the principal or most advantageous market and assumptions that market participants would use when pricing the asset or liability.
Fair Value Hierarchy
The guidance establishes a fair value hierarchy that prioritizes inputs used in valuation techniques into three levels. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There are three levels of inputs that may be used to measure fair value:
Level 1 - applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
Level 2 - applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, for the asset or liability such as: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in less active markets; or other inputs that can be derived principally from, or corroborated by, observable market data.
Level 3 - applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 and October 31, 2023 were as follows:
Fair Value Measurements at
 January 31, 2024October 31, 2023
 TotalLevel 1Level 2Level 3OtherTotalLevel 1Level 2Level 3Other
 (in millions)
Assets:        
Short-term        
Money market funds$1,163 $1,163 $— $— $— $1,934 $1,934 $— $— $— 
Derivative instruments (foreign exchange contracts)14 — 14 — — 18 — 18 — — 
Long-term
Equity investments62 62 — — — 56 56 — — — 
Other investments28 — — — 28 25 — — — 25 
Total assets measured at fair value$1,267 $1,225 $14 $— $28 $2,033 $1,990 $18 $— $25 
Liabilities:        
Short-term
Derivative instruments (foreign exchange contracts)$9 $— $9 $— $— $54 $— $54 $— $— 
Long-term
Deferred compensation liability30 — 30 — — 27 — 27 — — 
Total liabilities measured at fair value$39 $— $39 $— $— $81 $— $81 $— $— 
Net realized gain (loss) on sale of our equity and other investments was zero for both the three months ended January 31, 2024 and 2023. Net unrealized gain (loss) on our equity and other investments was a gain of $7 million and $8 million for the three months ended January 31, 2024 and 2023, respectively.
Our money market funds and equity investments with readily determinable fair values are measured at fair value using quoted market prices and, therefore, are classified within Level 1 of the fair value hierarchy. Equity and fixed income investments or convertible notes without readily determinable fair values that are either measured at cost, adjusted for observable changes in price or impairments, or accounted for under a measurement alternative are not categorized in the fair value hierarchy and are presented as "other investments" in the table above. Our deferred compensation liability is classified as Level 2 because the inputs used in the calculations are observable, although the values are not directly based on quoted market prices. Our derivative financial instruments are classified within Level 2 as there is not an active market for each hedge contract, but the inputs used to calculate the value of the instruments are tied to active markets.
Equity investments, including securities that are earmarked to pay the deferred compensation liability, and the deferred compensation liability are reported at fair value, with gains or losses resulting from changes in fair value recognized in earnings. Certain derivative instruments are reported at fair value, with unrealized gains and losses, net of tax, included in accumulated other comprehensive income (loss).