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Supplemental Financial Information | 6 Months Ended
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May 05, 2024
Disclosure Text Block Supplement [Abstract] |
Supplemental Financial Information | Supplemental Financial Information Cash Equivalents Cash equivalents included $1,382 million and $1,470 million of time deposits and $1,438 million and $1,650 million of money-market funds as of May 5, 2024 and October 29, 2023, respectively. For time deposits, carrying value approximates fair value due to the short-term nature of the instruments. The fair value of money-market funds, which was consistent with their carrying value, was determined using unadjusted prices in active, accessible markets for identical assets, and as such, they were classified as Level 1 assets in the fair value hierarchy. Accounts Receivable Factoring We sell certain of our trade accounts receivable on a non-recourse basis to third-party financial institutions pursuant to factoring arrangements. We account for these transactions as sales of receivables and present cash proceeds as cash provided by operating activities in the condensed consolidated statements of cash flows. Total trade accounts receivable sold under the factoring arrangements were $1,250 million and $2,500 million during the fiscal quarter and two fiscal quarters ended May 5, 2024, respectively, and $900 million and $1,925 million during the fiscal quarter and two fiscal quarters ended April 30, 2023, respectively. Inventory
|  | May 5, 2024 |  | October 29, 2023
|  | (In millions)
Finished goods |  | $ | 569 |  |  | $ | 676 |
Work-in-process |  | 866 |  |  | 901 |
Raw materials |  | 407 |  |  | 321 |
Total inventory |  | $ | 1,842 |  |  | $ | 1,898 |
Assets and Liabilities Held-for-Sale In connection with the VMware Merger, we classified VMware’s EUC business and certain other assets and liabilities, which were not aligned with our strategic objectives, as assets and liabilities held-for-sale. The carrying value of these assets and liabilities as of May 5, 2024 represented the fair value determined in the preliminary purchase price allocation of the VMware Merger, adjusted for operating activities since the date of the VMware Merger. As of May 5, 2024, the carrying values of these assets, net of liabilities, approximated the expected selling prices.
|  | May 5, 2024
|  | EUC |  | Other |  | Total
|  | (In millions)
Assets held-for-sale: |  |  |  |  |  |
Goodwill |  | $ | 2,268 |  |  | $ | — |  |  | $ | 2,268 |
Intangible assets, net |  | 2,545 |  |  | — |  |  | 2,545 |
Other assets |  | 57 |  |  | 351 |  |  | 408 |
Total assets held-for-sale |  | $ | 4,870 |  |  | $ | 351 |  |  | $ | 5,221 |
Liabilities held-for-sale: |  | $ | 1,581 |  |  | $ | 176 |  |  | $ | 1,757 |
Discontinued Operations We have presented the operating results of these assets and liabilities held-for-sale in discontinued operations as follows:
|  | Fiscal Quarter Ended May 5, 2024 |  | Two Fiscal Quarters Ended May 5, 2024 |  |
|  | (In millions)
Net revenue |  | $ | 329 |  |  |  |  |  |  | $ | 680 |  |  |  |  |  |  |  |  |
Income from discontinued operations before income taxes |  | $ | 11 |  |  |  |  |  |  | $ | 69 |  |  |  |  |  |  |  |  |
Provision for income taxes |  | (11) |  |  |  |  |  |  | (18) |  |  |  |  |  |  |  |  |
Income from discontinued operations, net of income taxes |  | $ | — |  |  |  |  |  |  | $ | 51 |  |  |  |  |  |  |  |  |
Other Current Assets
|  | May 5, 2024 |  | October 29, 2023
|  | (In millions)
Assets held-for-sale |  | $ | 5,221 |  |  | $ | — |
Prepaid expenses |  | 1,742 |  |  | 743 |
Other |  | 1,188 |  |  | 863 |
Total other current assets |  | $ | 8,151 |  |  | $ | 1,606 |
Other Current Liabilities
|  | May 5, 2024 |  | October 29, 2023
|  | (In millions)
Contract liabilities |  | $ | 10,519 |  |  | $ | 2,487 |
Liabilities held-for-sale |  | 1,757 |  |  | — |
Tax liabilities |  | 1,127 |  |  | 473 |
Interest payable |  | 450 |  |  | 380 |
Other |  | 1,066 |  |  | 312 |
Total other current liabilities |  | $ | 14,919 |  |  | $ | 3,652 |
Other Long-Term Liabilities
|  | May 5, 2024 |  | October 29, 2023
|  | (In millions)
Unrecognized tax benefits |  | $ | 3,209 |  |  | $ | 2,792 |
Contract liabilities |  | 6,183 |  |  | 299 |
Deferred tax liabilities |  | 2,219 |  |  | 99 |
Other |  | 1,878 |  |  | 657 |
Total other long-term liabilities |  | $ | 13,489 |  |  | $ | 3,847 |
Supplemental Cash Flow Information
|  | Fiscal Quarter Ended |  | Two Fiscal Quarters Ended
|  | May 5, 2024 |  | April 30, 2023 |  | May 5, 2024 |  | April 30, 2023
|  | (In millions)
Cash paid for interest |  | $ | 946 |  |  | $ | 397 |  |  | $ | 1,696 |  |  | $ | 758 |
Cash paid for income taxes |  | $ | 834 |  |  | $ | 891 |  |  | $ | 1,738 |  |  | $ | 1,164 |

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