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Cash, Cash Equivalents and Investments | 6 Months Ended
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Apr. 26, 2020
Cash and Cash Equivalents [Abstract] |
Cash, Cash Equivalents and Investments | Cash, Cash Equivalents and Investments Summary of Cash, Cash Equivalents and Investments The following tables summarize Applied’s cash, cash equivalents and investments:
April 26, 2020 | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (In millions) |  |  |  |  |  |
Cash | $ | 1,029 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,029 |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | 4,231 |  |  | — |  |  | — |  |  | 4,231 |
Commercial paper, corporate bonds and medium-term notes | 21 |  |  | — |  |  | — |  |  | 21 |
Total Cash equivalents | 4,252 |  |  | — |  |  | — |  |  | 4,252 |
Total Cash and Cash equivalents | $ | 5,281 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,281 |
Short-term and long-term investments: |  |  |  |  |  |  |
U.S. Treasury and agency securities | $ | 380 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 386 |
Non-U.S. government securities* | 4 |  |  | — |  |  | — |  |  | 4 |
Municipal securities | 397 |  |  | 5 |  |  | — |  |  | 402 |
Commercial paper, corporate bonds and medium-term notes | 555 |  |  | 5 |  |  | 3 |  |  | 557 |
Asset-backed and mortgage-backed securities | 594 |  |  | 7 |  |  | 4 |  |  | 597 |
Total fixed income securities | 1,930 |  |  | 23 |  |  | 7 |  |  | 1,946 |
Publicly traded equity securities | 11 |  |  | 31 |  |  | 4 |  |  | 38 |
Equity investments in privately-held companies | 104 |  |  | 18 |  |  | 5 |  |  | 117 |
Total equity investments | 115 |  |  | 49 |  |  | 9 |  |  | 155 |
Total short-term and long-term investments | $ | 2,045 |  |  | $ | 72 |  |  | $ | 16 |  |  | $ | 2,101 |
Total Cash, Cash equivalents and Investments | $ | 7,326 |  |  | $ | 72 |  |  | $ | 16 |  |  | $ | 7,382 |
_________________________ * Includes agency debt securities guaranteed by Canada.
October 27, 2019 | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (In millions) |  |  |  |  |  |
Cash | $ | 1,071 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,071 |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | 1,677 |  |  | — |  |  | — |  |  | 1,677 |
U.S. Treasury and agency securities | 4 |  |  | — |  |  | — |  |  | 4 |
Commercial paper, corporate bonds and medium-term notes | 377 |  |  | — |  |  | — |  |  | 377 |
Total Cash equivalents | 2,058 |  |  | — |  |  | — |  |  | 2,058 |
Total Cash and Cash equivalents | $ | 3,129 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,129 |
Short-term and long-term investments: |  |  |  |  |  |  |
U.S. Treasury and agency securities | $ | 336 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 337 |
Non-U.S. government securities* | 10 |  |  | — |  |  | — |  |  | 10 |
Municipal securities | 402 |  |  | 4 |  |  | — |  |  | 406 |
Commercial paper, corporate bonds and medium-term notes | 642 |  |  | 5 |  |  | — |  |  | 647 |
Asset-backed and mortgage-backed securities | 631 |  |  | 4 |  |  | — |  |  | 635 |
Total fixed income securities | 2,021 |  |  | 14 |  |  | — |  |  | 2,035 |
Publicly traded equity securities | 8 |  |  | 40 |  |  | 3 |  |  | 45 |
Equity investments in privately-held companies | 105 |  |  | 10 |  |  | 3 |  |  | 112 |
Total equity investments | 113 |  |  | 50 |  |  | 6 |  |  | 157 |
Total short-term and long-term investments | $ | 2,134 |  |  | $ | 64 |  |  | $ | 6 |  |  | $ | 2,192 |
Total Cash, Cash equivalents and Investments | $ | 5,263 |  |  | $ | 64 |  |  | $ | 6 |  |  | $ | 5,321 |
_________________________ * Includes agency debt securities guaranteed by Canada. Maturities of Investments The following table summarizes the contractual maturities of Applied’s investments as of April 26, 2020:
| Cost |  | Estimated Fair Value
| (In millions) |  |
Due in one year or less | $ | 378 |  |  | $ | 380 |
Due after one through five years | 958 |  |  | 969 |
No single maturity date** | 709 |  |  | 752 |
Total | $ | 2,045 |  |  | $ | 2,101 |
_________________________ ** Securities with no single maturity date include publicly-traded and privately-held equity securities and asset-backed and mortgage-backed securities. Gains and Losses on Investments During the three and six months ended April 26, 2020 and April 28, 2019 gross realized gains and losses on investments were not material. As of April 26, 2020, and October 27, 2019, gross unrealized losses related to Applied’s debt investment portfolio were not material. Applied regularly reviews its debt investment portfolio to identify and evaluate investments that have indications of possible impairment. Factors considered in determining whether an unrealized loss is considered to be temporary, or other-than-temporary and therefore impaired, include: the length of time and extent to which fair value has been lower than the cost basis; the financial condition, credit quality and near-term prospects of the investee; and whether it is more likely than not that Applied will be required to sell the security prior to recovery. Applied determined that the gross unrealized losses on its marketable fixed-income securities as of April 26, 2020 and April 28, 2019 were temporary in nature and therefore it did not recognize any impairment of its marketable fixed-income securities during the three and six months ended April 26, 2020 or April 28, 2019. Impairment charges on equity investments in privately-held companies during the three and six months ended April 26, 2020 and April 28, 2019 were not material. These impairment charges are included in interest and other income, net in the Consolidated Condensed Statement of Operations. The components of gain (loss) on equity investments for the three and six months ended April 26, 2020 and April 28, 2019 were as follows:
| Three Months Ended |  |  |  | Six Months Ended |  |
| April 26, 2020 |  | April 28, 2019 |  | April 26, 2020 |  | April 28, 2019
| (In millions) |  |  |  |  |  |
Publicly traded equity securities |  |  |  |  |  |  |
Unrealized gain | $ | 3 |  |  | $ | 7 |  |  | $ | 5 |  |  | $ | 13 |
Unrealized loss | (12) |  |  | (1) |  |  | (15) |  |  | (3) |
Realized gain on sales | — |  |  | 1 |  |  | — |  |  | 2 |
Equity investments in privately-held companies |  |  |  |  |  |  |
Unrealized gain | 9 |  |  | 2 |  |  | 9 |  |  | 9 |
Unrealized loss | (2) |  |  | (2) |  |  | (3) |  |  | (3) |
Realized gain on sales or other | 1 |  |  | 4 |  |  | 1 |  |  | 5 |
Realized loss on sales or impairment | (6) |  |  | — |  |  | (8) |  |  | — |
Total gain (loss) on equity investments, net | $ | (7) |  |  | $ | 11 |  |  | $ | (11) |  |  | $ | 23 |

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- Definition The entire disclosure for cash, cash equivalents, investments in debt and equity instruments (including cost and equity investees and related income statement amounts), equity and cost method investments, investments in joint ventures and any other investment. + References No definition available. + Details
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