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Fair Value Measurements | 6 Months Ended
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Apr. 27, 2025
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements Assets Measured at Fair Value on a Recurring Basis The following table presents our fair value hierarchy for our financial assets (excluding cash balances) measured at fair value on a recurring basis:
| April 27, 2025 |  | October 27, 2024
| Level 1 |  | Level 2 |  |  |  | Total |  | Level 1 |  | Level 2 |  |  |  | Total
| (In millions)
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale debt security investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds* | $ | 2,609 |  |  | $ | — |  |  |  |  | $ | 2,609 |  |  | $ | 3,512 |  |  | $ | — |  |  |  |  | $ | 3,512 |
Bank certificates of deposit and time deposits | — |  |  | 109 |  |  |  |  | 109 |  |  | — |  |  | 103 |  |  |  |  | 103 |
U.S. Treasury and agency securities | 387 |  |  | 8 |  |  |  |  | 395 |  |  | 2,684 |  |  | 14 |  |  |  |  | 2,698 |
Non-U.S. government securities | — |  |  | 8 |  |  |  |  | 8 |  |  | — |  |  | 5 |  |  |  |  | 5 |
Municipal securities | — |  |  | 499 |  |  |  |  | 499 |  |  | — |  |  | 460 |  |  |  |  | 460 |
Commercial paper, corporate bonds and medium-term notes | — |  |  | 2,919 |  |  |  |  | 2,919 |  |  | — |  |  | 2,590 |  |  |  |  | 2,590 |
Asset-backed and mortgage-backed securities | — |  |  | 625 |  |  |  |  | 625 |  |  | — |  |  | 654 |  |  |  |  | 654 |
Total available-for-sale debt security investments | $ | 2,996 |  |  | $ | 4,168 |  |  |  |  | $ | 7,164 |  |  | $ | 6,196 |  |  | $ | 3,826 |  |  |  |  | $ | 10,022 |
Equity investments with readily determinable values |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Publicly traded equity securities | $ | 1,520 |  |  | $ | — |  |  |  |  | $ | 1,520 |  |  | $ | 723 |  |  | $ | — |  |  |  |  | $ | 723 |
Total equity investments with readily determinable values | $ | 1,520 |  |  | $ | — |  |  |  |  | $ | 1,520 |  |  | $ | 723 |  |  | $ | — |  |  |  |  | $ | 723 |
Total | $ | 4,516 |  |  | $ | 4,168 |  |  |  |  | $ | 8,684 |  |  | $ | 6,919 |  |  | $ | 3,826 |  |  |  |  | $ | 10,745 |
_________________________ *Amounts as of April 27, 2025 and October 27, 2024 include $75 million and $91 million, respectively, invested in money market funds related to deferred compensation plans. Due to restrictions on the distribution of these funds, they are classified as restricted cash equivalents and are included in deferred income taxes and other assets in the Consolidated Condensed Balance Sheets. As of April 27, 2025 and October 27, 2024, available-for-sale, short-term and long-term investments not recognized at fair value based upon observable inputs or quoted prices were not material. We did not have any financial assets measured at fair value on a recurring basis within Level 3 fair value measurements as of April 27, 2025 or October 27, 2024. Assets and Liabilities without Readily Determinable Values Measured on a Non-recurring Basis Our equity investments without readily determinable values consist of equity investments in privately held companies. We elected the measurement alternative, defined as cost, less impairments, adjusted for subsequent observable price changes on a prospective basis for certain equity investments without readily determinable fair values and are required to account for any subsequent observable changes in fair value within the statements of operations. These investments are classified as Level 3 within the fair value hierarchy and periodically assessed for impairment when an event or circumstance indicates that a decline in value may have occurred. Impairment losses on equity investments in privately held companies are included in interest and other income (expense), net in the Consolidated Condensed Statement of Operations and were not material during the three and six months ended April 27, 2025 and April 28, 2024. Other The carrying amounts of our financial instruments, including cash and cash equivalents, restricted cash equivalents, accounts receivable, commercial paper notes, and accounts payable and accrued expenses, approximate fair value due to their short maturities. As of April 27, 2025, the aggregate principal amount of long-term senior unsecured notes was $5.5 billion and the estimated fair value was $5.0 billion. As of October 27, 2024, the aggregate principal amount of long-term senior unsecured notes was $5.5 billion and the estimated fair value was $5.1 billion. The estimated fair value of long-term senior unsecured notes is determined by Level 2 inputs and is based primarily on quoted market prices for the same or similar issues. See Note 9 of the Notes to the Consolidated Condensed Financial Statements for further detail of existing debt.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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