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MARKETABLE SECURITIES | 12 Months Ended
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Oct. 31, 2016
MARKETABLE SECURITIES |
MARKETABLE SECURITIES | 11. MARKETABLE SECURITIES All marketable securities are classified as available-for-sale, with unrealized gains and losses shown as a component of stockholders’ equity. Realized gains or losses from the sales of marketable securities are based on the specific identification method. The amortized cost and fair value of marketable securities at October 31 in millions of dollars follow:
|  |  |  |  | Gross |  | Gross |  |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
|  | Cost |  | Gains |  | Losses |  | Value |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Equity fund |  | $ | 40 |  | $ | 5 |  |  |  |  | $ | 45 |
Fixed income fund |  |  | 15 |  |  |  |  |  |  |  |  | 15 |
U.S. government debt securities |  |  | 85 |  |  | 3 |  |  |  |  |  | 88 |
Municipal debt securities |  |  | 41 |  |  | 2 |  |  |  |  |  | 43 |
Corporate debt securities |  |  | 113 |  |  | 5 |  |  |  |  |  | 118 |
International debt securities |  |  | 39 |  |  |  |  | $ | 5 |  |  | 34 |
Mortgage-backed securities* |  |  | 109 |  |  | 2 |  |  |  |  |  | 111 |
Marketable securities |  | $ | 442 |  | $ | 17 |  | $ | 5 |  | $ | 454 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Equity fund |  | $ | 38 |  | $ | 5 |  |  |  |  | $ | 43 |
U.S. government debt securities |  |  | 79 |  |  | 3 |  |  |  |  |  | 82 |
Municipal debt securities |  |  | 29 |  |  | 2 |  |  |  |  |  | 31 |
Corporate debt securities |  |  | 121 |  |  | 4 |  | $ | 1 |  |  | 124 |
International debt securities |  |  | 48 |  |  |  |  |  | 1 |  |  | 47 |
Mortgage-backed securities* |  |  | 108 |  |  | 3 |  |  | 1 |  |  | 110 |
Marketable securities |  | $ | 423 |  | $ | 17 |  | $ | 3 |  | $ | 437 |
* Primarily issued by U.S. government sponsored enterprises. The contractual maturities of debt securities at October 31, 2016 in millions of dollars follow:
|  | Amortized |  | Fair |
|  | Cost |  | Value |
Due in one year or less |  | $ | 35 |  | $ | 34 |
Due after one through five years |  |  | 104 |  |  | 103 |
Due after five through 10 years |  |  | 87 |  |  | 91 |
Due after 10 years |  |  | 52 |  |  | 55 |
Mortgage-backed securities |  |  | 109 |  |  | 111 |
Debt securities |  | $ | 387 |  | $ | 394 |
Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Because of the potential for prepayment on mortgage-backed securities, they are not categorized by contractual maturity. Proceeds from the sales of available-for-sale securities were $62 million in 2016, $120 million in 2015 and $6 million in 2014. Realized gains, realized losses, the increase (decrease) in net unrealized gains or losses and unrealized losses that have been continuous for over twelve months were not significant in 2016, 2015 and 2014. Unrealized losses at October 31, 2016 and 2015 were primarily the result of an increase in interest rates and were not recognized in income due to the ability and intent to hold to maturity. There were no significant impairment write-downs in the periods reported.

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