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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Oct. 27, 2024

FAIR VALUE MEASUREMENTS

Fair Values of Financial Instruments

The fair values of financial instruments that do not approximate the carrying values at October 27, 2024 and October 29, 2023 follow:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2024

​

2023

​

​

​

Carrying

​

Fair

​

Carrying

​

Fair

​

​

Value

Value*

Value

Value*

Financing receivables – net

​

$

44,309

​

$

44,336

​

$

43,673

​

$

42,777

​

Financing receivables securitized – net

​

​

8,723

​

​

8,654

​

​

7,335

​

​

7,056

​

Short-term securitization borrowings

​

​

8,431

​

​

8,453

​

​

6,995

​

​

6,921

​

Long-term borrowings due within one year**

​

9,115

​

9,079

​

8,331

​

8,156

​

Long-term borrowings**

​

43,157

​

42,804

​

38,428

​

36,873

​

*    Fair value measurements above were Level 3 for all financing receivables and Level 2 for all borrowings.

**  Values exclude finance lease liabilities that are presented as borrowings (see Note 24).

​

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at October 27, 2024 and October 29, 2023 at fair value on a recurring basis follow, excluding our cash equivalents, which were carried at a cost that approximates fair value and consisted of money market funds and time deposits:

​

​	​	​	​	​	​	​	​
​		2024			2023
Level 1:	​	​	​	​	​	​	​
Marketable securities	​	​	​	​	​	​	​
International equity securities		​	​		$	3	​
International mutual funds securities	​	​	​	​	​	101	​
U.S. equity fund	​	​	​	​	​	86	​
U.S. fixed income fund	​		​	​	​	32	​
U.S. government debt securities	​	$	239	​		78	​
Total Level 1 marketable securities	​	​	239	​	​	300	​
​	​	​	​	​	​	​	​
Level 2:	​	​	​	​	​	​	​
Marketable securities	​	​	​	​	​	​	​
Corporate debt securities	​		423	​		244	​
International debt securities	​	​	143	​	​	1	​
Mortgage-backed securities*	​		165	​		185	​
Municipal debt securities	​		74	​		75	​
U.S. government debt securities	​	​	110	​	​	141	​
Total Level 2 marketable securities	​		915	​		646	​
Other assets - Derivatives	​	​	357	​	​	292	​
Accounts payable and accrued expenses – Derivatives	​	​	582	​	​	1,130	​
​	​	​	​	​	​	​	​
Level 3:	​	​	​	​	​	​	​
Accounts payable and accrued expenses – Deferred consideration	​	​	147	​	​	186	​

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

​

Fair Value, Nonrecurring Level 3 Measurements from Impairments

Fair value, nonrecurring level 3 measurements from impairments at October 27, 2024 and October 29, 2023 follow:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value

​

Losses

​

​

2024

2023

2024

2023

2022

​

Inventories

​

​

​

​

​

​

​

​

​

​

​

​

​

$

19

​

Property and equipment – net

​

​

​

​

​

​

​

​

​

41

​

Other intangible assets – net

​

​

​

​

​

​

​

​

​

​

​

​

28

​

Other assets

​

$

23

​

​

​

​

$

28

​

​

​

​

​

​

​

Assets held for sale

​

2,944

​

​

​

​

97

​

​

​

​

​

​

​

​

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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