Leases

12 Months Ended

Oct. 30, 2022

At the beginning of fiscal year 2020, we adopted ASU 2016-02, Leases (“Topic 842”) using the optional adoption method, whereby no adjustment to the financial statements of comparative periods was required. We have operating and finance leases for our facilities, data centers and certain equipment. Operating lease expense was $98 million, $102 million and $106 million for fiscal years 2022, 2021 and 2020, respectively. Finance lease expense was $18 million, $16 million and $14 million for fiscal years 2022, 2021 and 2020 respectively.

Other information related to leases was as follows:


	Fiscal Year
	2022			2021			2020
	(In millions)
Cash paid for operating leases included in operating cash flows	$	103		$	140		$	125

ROU assets obtained in exchange for operating lease liabilities	$	16		$	92		$	682
ROU assets obtained in exchange for finance lease liabilities	$	1		$	15		$	74

	October 30, 2022			October 31, 2021
Weighted-average remaining lease term – operating leases (In years)	10			10
Weighted-average remaining lease term – finance leases (In years)	2			3
Weighted-average discount rate – operating leases	3.60		%	3.78		%
Weighted-average discount rate – finance leases	3.05		%	3.11		%

Supplemental balance sheet information related to leases was as follows:


	Classification on the Consolidated Balance Sheets	October 30, 2022		October 31, 2021
		(In millions)
ROU assets - operating leases	Other long-term assets	$	517	$	588
ROU assets - finance leases	Property, plant and equipment, net	$	40	$	55

Short-term lease liabilities - operating leases	Other current liabilities	$	74	$	83
Long-term lease liabilities - operating leases	Other long-term liabilities	$	389	$	460
Short-term lease liabilities - finance leases	Current portion of long-term debt	$	37	$	26
Long-term lease liabilities - finance leases	Long-term debt	$	22	$	39

Future minimum lease payments under non-cancelable leases as of October 30, 2022 were as follows:


	October 30, 2022
	Operating Leases		Finance Leases

	(In millions)
2023	$	89	$	38
2024	69		18
2025	58		2
2026	45		2
2027	40		—
Thereafter	267		—
Total undiscounted liabilities	568		60
Less: interest	(105)		(1)
Present value of lease liabilities	$	463	$	59