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Borrowing Facilities and Debt | 6 Months Ended
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Apr. 27, 2025
Debt Disclosure [Abstract] |
Borrowing Facilities and Debt | Borrowing Facilities and Debt Revolving Credit Facilities In February 2025, we entered into a $2.0 billion committed unsecured revolving credit agreement (Revolving Credit Agreement) with a group of banks. The Revolving Credit Agreement includes a provision under which we may request an increase in the amount of the facility of up to $500 million for a total commitment of no more than $2.5 billion, subject to the receipt of commitments from one or more lenders for any such increase and other customary conditions. The Revolving Credit Agreement is scheduled to expire in February 2030, unless extended as permitted under the Revolving Credit Agreement. The Revolving Credit Agreement provides for borrowings that bear interest for each advance at one of two rates selected by us, plus an applicable margin, which varies according to our public debt credit ratings. The Revolving Credit Agreement replaced the prior $1.5 billion credit agreement, which was scheduled to expire in February 2026. No amounts were outstanding under the Revolving Credit Agreement as of April 27, 2025 or under the prior revolving credit agreement as of October 27, 2024. In addition, we have revolving credit facilities with Japanese banks pursuant to which we may borrow up to approximately $56 million in aggregate at any time. Our ability to borrow under these facilities is subject to bank approval at the time of the borrowing request, and any advances will be at rates indexed to the banks’ prime reference rate denominated in Japanese yen. As of April 27, 2025 and October 27, 2024, no amounts were outstanding under these revolving credit facilities. Short-term Commercial Paper We have a short-term commercial paper program under which we may issue unsecured commercial paper notes of up to a total amount of $1.5 billion. The proceeds from the issuances of commercial paper are used for general corporate purposes. As of April 27, 2025, we had commercial paper notes outstanding with an aggregate principal amount of $100 million, which were recorded as short-term debt with a weighted-average interest rate of 4.34% and maturities of 90 days, and as of October 27, 2024, we had $100 million of commercial paper notes outstanding and recorded as short-term debt with a weighted-average interest rate of 5.06% and maturities of 63 days. Senior Unsecured Notes Debt outstanding as of April 27, 2025 and October 27, 2024 was as follows:
| Principal Amount |  |  |  |
| April 27, 2025 |  | October 27, 2024 |  | Effective Interest Rate |  | Interest Pay Dates
| (In millions) |  |  |  |
Current portion of long-term debt: |  |  |  |  |  |  |
3.900% Senior Notes Due 2025 | $ | 700 |  |  | $ | 700 |  |  | 3.944% |  | April 1, October 1
Total current portion of long-term debt | $ | 700 |  |  | $ | 700 |  |  |  |  |
Long-term debt: |  |  |  |  |  |  |
3.300% Senior Notes Due 2027 | $ | 1,200 |  |  | $ | 1,200 |  |  | 3.342% |  | April 1, October 1
4.800% Senior Notes Due 2029 | 700 |  |  | 700 |  |  | 4.844% |  | June 15, December 15
1.750% Senior Notes Due 2030 | 750 |  |  | 750 |  |  | 1.792% |  | June 1, December 1
5.100% Senior Notes Due 2035 | 500 |  |  | 500 |  |  | 5.127% |  | April 1, October 1
5.850% Senior Notes Due 2041 | 600 |  |  | 600 |  |  | 5.879% |  | June 15, December 15
4.350% Senior Notes Due 2047 | 1,000 |  |  | 1,000 |  |  | 4.361% |  | April 1, October 1
2.750% Senior Notes Due 2050 | 750 |  |  | 750 |  |  | 2.773% |  | June 1, December 1
| 5,500 |  |  | 5,500 |  |  |  |  |
Total unamortized discount | (10) |  |  | (10) |  |  |  |  |
Total unamortized debt issuance costs | (28) |  |  | (30) |  |  |  |  |
Total long-term debt | $ | 5,462 |  |  | $ | 5,460 |  |  |  |  |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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