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Net Income Per Share | 12 Months Ended
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Oct. 29, 2023
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share
|  | Fiscal Year
|  | 2023 |  | 2022 |  | 2021
|  | (In millions, except per share data)
Numerator: |  |  |  |  |  |
Net income |  | $ | 14,082 |  |  | $ | 11,495 |  |  | $ | 6,736 |
Dividends on preferred stock |  | — |  |  | (272) |  |  | (299) |
Net income attributable to common stock |  | $ | 14,082 |  |  | $ | 11,223 |  |  | $ | 6,437 |
Denominator: |  |  |  |  |  |
Weighted-average shares outstanding - basic |  | 415 |  |  | 409 |  |  | 410 |
Dilutive effect of equity awards |  | 12 |  |  | 14 |  |  | 19 |
Weighted-average shares outstanding - diluted |  | 427 |  |  | 423 |  |  | 429 |
Net income per share attributable to common stock: |  |  |  |  |  |
Basic |  | $ | 33.93 |  |  | $ | 27.44 |  |  | $ | 15.70 |
Diluted |  | $ | 32.98 |  |  | $ | 26.53 |  |  | $ | 15.00 |
For fiscal years 2022 and 2021, diluted net income per share excluded the potentially dilutive effect of 10 million and 12 million shares of common stock, respectively, issuable upon the conversion of 8.00% Mandatory Convertible Preferred Stock, Series A, $0.001 par value per share (“Mandatory Convertible Preferred Stock”) as their effect was antidilutive. All shares of our Mandatory Convertible Preferred Stock were converted into shares of our common stock before the end of fiscal year 2022.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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