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LONG-TERM BORROWINGS | 12 Months Ended
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Oct. 29, 2023
LONG-TERM BORROWINGS |
LONG-TERM BORROWINGS | 19. LONG-TERM BORROWINGS Long-term borrowings at the end of 2023 and 2022 consisted of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |
Underwritten term debt | ​ | ​ |  | ​ | ​ |  | ​
U.S. dollar notes and debentures: | ​ | ​ | ​ | ​ | ​ | ​ | ​
2.75% notes due 2025 | ​ | $ | 700 | ​ | $ | 700 | ​
6.55% debentures due 2028 | ​ |  | 200 | ​ |  | 200 | ​
5.375% notes due 2029 | ​ |  | 500 | ​ |  | 500 | ​
3.10% notes due 2030 | ​ | ​ | 700 | ​ | ​ | 700 | ​
8.10% debentures due 2030 | ​ |  | 250 | ​ |  | 250 | ​
7.125% notes due 2031 | ​ |  | 300 | ​ |  | 300 | ​
3.90% notes due 2042 | ​ |  | 1,250 | ​ |  | 1,250 | ​
2.875% notes due 2049 | ​ | ​ | 500 | ​ | ​ | 500 | ​
3.75% notes due 2050 | ​ | ​ | 850 | ​ | ​ | 850 | ​
Euro notes: | ​ | ​ | ​ | ​ | ​ | ​ | ​
1.375% notes due 2024 (€800 principal) | ​ | ​ | ​ | ​ | ​ | 797 | ​
1.85% notes due 2028 (€600 principal) | ​ | ​ | 634 | ​ | ​ | 598 | ​
2.20% notes due 2032 (€600 principal) | ​ | ​ | 634 | ​ | ​ | 598 | ​
1.65% notes due 2039 (€650 principal) | ​ | ​ | 687 | ​ | ​ | 648 | ​
Serial issuances | ​ | ​ | ​ | ​ | ​ | ​ | ​
Medium-term notes |  | ​ | 29,638 | ​ | ​ | 24,604 | ​
Other notes and finance lease obligations | ​ |  | 1,769 | ​ |  | 1,223 | ​
Less: debt issuance costs and debt discounts | ​ | ​ | (135) | ​ | ​ | (122) | ​
Long-term borrowings |  | $ | 38,477 | ​ | $ | 33,596 | ​
​ ​ Medium-term notes due through 2033 are offered by prospectus. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other. The outstanding principal and average interest rates at the end of 2023 and 2022 follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |
Medium-term notes: | ​ | ​ |  | ​ | ​ |  | ​
Principal | ​ | $ | 30,902 | ​ | $ | 25,629 | ​
Average interest rates | ​ | ​ | 4.9% | ​ | ​ | 2.9% | ​
​ ​ The principal amounts of our long-term borrowings maturing in each of the next five years are as follows: 2024 - $8,319, 2025 - $9,195, 2026 - $7,867, 2027 - $3,724, and 2028 - $6,080.

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