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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Jan. 28, 2024
FAIR VALUE MEASUREMENTS |
Fair Values of Financial Instruments | The fair values of financial instruments that do not approximate the carrying values were as follows. Long-term borrowings exclude finance lease liabilities.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | January 28, 2024 | ​ | October 29, 2023 | ​ | January 29, 2023 |
​ | ​ | Carrying Value | ​ | Fair Value | ​ | Carrying Value | ​ | Fair Value | ​ | Carrying Value | ​ | Fair Value |
Financing receivables – net | ​ | $ | 43,708 | ​ | $ | 43,236 | ​ | $ | 43,673 | ​ | $ | 42,777 | ​ | $ | 36,882 | ​ | $ | 35,894 | ​
Financing receivables securitized – net | ​ | ​ | 6,400 | ​ | ​ | 6,225 | ​ | ​ | 7,335 | ​ | ​ | 7,056 | ​ | ​ | 5,089 | ​ | ​ | 4,869 | ​
Short-term securitization borrowings | ​ | ​ | 6,116 | ​ | ​ | 6,104 | ​ | ​ | 6,995 | ​ | ​ | 6,921 | ​ | ​ | 4,864 | ​ | ​ | 4,785 | ​
Long-term borrowings due within one year | ​ | ​ | 8,402 | ​ | ​ | 8,283 | ​ | ​ | 8,331 |  | ​ | 8,156 | ​ | ​ | 7,378 | ​ | ​ | 7,220 | ​
Long-term borrowings | ​ | ​ | 39,878 | ​ | ​ | 39,321 | ​ | ​ | 38,428 |  | ​ | 36,873 | ​ | ​ | 35,035 | ​ | ​ | 34,149 | ​
Fair value measurements above were Level 3 for all financing receivables and Level 2 for all borrowings.
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and liabilities measured 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. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | January 28 |  | October 29 |  | January 29 |
​ | ​ | 2024 | ​ | 2023 | ​ | 2023 |
Level 1: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Marketable securities |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
International equity securities | ​ | $ | 5 | ​ | $ | 3 | ​ | $ | 2 | ​
International mutual funds securities | ​ | ​ | 57 | ​ | ​ | 101 | ​ | ​ | ​ | ​
U.S. equity fund | ​ | ​ | 105 | ​ | ​ | 86 | ​ | ​ | 86 | ​
U.S. fixed income fund | ​ | ​ | 34 | ​ |  | 32 | ​ |  | 118 | ​
U.S. government debt securities | ​ | ​ | 274 | ​ |  | 78 | ​ |  | 64 | ​
Total Level 1 marketable securities | ​ | ​ | 475 | ​ | ​ | 300 | ​ | ​ | 270 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Level 2: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Marketable securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate debt securities | ​ | ​ | 220 | ​ |  | 244 | ​ |  | 209 | ​
International debt securities | ​ | ​ | 87 | ​ | ​ | 1 | ​ | ​ | 18 | ​
Mortgage-backed securities | ​ | ​ | 161 | ​ |  | 185 | ​ |  | 157 | ​
Municipal debt securities | ​ | ​ | 69 | ​ |  | 75 | ​ |  | 71 | ​
U.S. government debt securities | ​ | ​ | 124 | ​ | ​ | 141 | ​ | ​ | 127 | ​
Total Level 2 marketable securities | ​ | ​ | 661 | ​ |  | 646 | ​ |  | 582 | ​
Other assets – Derivatives |  | ​ | 253 | ​ | ​ | 292 | ​ | ​ | 360 | ​
Accounts payable and accrued expenses – Derivatives | ​ | ​ | 744 | ​ | ​ | 1,130 | ​ | ​ | 891 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Level 3: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accounts payable and accrued expenses – Deferred consideration |  | ​ | 176 | ​ | ​ | 186 | ​ | ​ | 225 | ​
​ The mortgage-backed securities are primarily issued by U.S. government sponsored enterprises.
Contractual Maturities of Debt Securities | The contractual maturities of debt securities at January 28, 2024 follow:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Fair | ​
​ | ​ | Cost | ​ | Value | ​
Due in one year or less |  | $ | 22 | ​ | $ | 21 | ​
Due after one through five years | ​ | ​ | 242 | ​ | ​ | 194 | ​
Due after five through 10 years | ​ | ​ | 421 | ​ | ​ | 398 | ​
Due after 10 years | ​ | ​ | 192 | ​ | ​ | 161 | ​
Mortgage-backed securities | ​ | ​ | 189 | ​ | ​ | 161 | ​
Debt securities |  | $ | 1,066 |  | $ | 935 | ​

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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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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