Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis in millions of dollars follow, excluding the Company’s cash equivalents, which were carried at cost that approximates fair value and consisted primarily of money market funds and time deposits.


	January 30		October 31		January 31
	2022		2021		2021
Level 1:
Marketable securities
International equity securities	$	2	$	2	$	2
U.S. equity fund		72		75		70
U.S. government debt securities		63		59		60
Total Level 1 marketable securities		137		136		132

Level 2:
Marketable securities
U.S. government debt securities		138		139		119
Municipal debt securities		74		73		71
Corporate debt securities		229		224		197
International debt securities		2		2		8
Mortgage-backed securities*		155		154		140
Total Level 2 marketable securities		598		592		535
Other assets
Derivatives:
Interest rate contracts		184		239		568
Foreign exchange contracts		91		31		34
Cross-currency interest rate contracts		24		5		3
Total Level 2 other assets		299		275		605
Accounts payable and accrued expenses
Derivatives:
Interest rate contracts		212		132		97
Foreign exchange contracts		64		94		76
Cross-currency interest rate contracts				2		2
Total Level 2 accounts payable and accrued expenses		276		228		175

* Primarily issued by U.S. government sponsored enterprises.

Fair Value, Nonrecurring Level 3 Measurements from Impairments

Fair value, nonrecurring Level 3 measurements from impairments, excluding financing receivables with specific allowances which were not significant, were as follows in millions of dollars. Property and equipment – net and Other assets fair value for October 31, 2021 represents the fair value assessment at January 31, 2021.


	Fair Value					Losses
						Three Months Ended
	January 30	October 31		January 31		January 30	January 31
	2022	2021		2021		2022	2021
Property and equipment – net		$	41	$	41		$	44
Other assets		$	1	$	1		$	6