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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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May 03, 2026
FAIR VALUE MEASUREMENTS |
Fair Values of Financial Instruments | The fair values of financial instruments that do not approximate the carrying values are presented in the table below. Long-term borrowings exclude finance lease liabilities.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | May 3, 2026 | ​ | November 2, 2025 | ​ | April 27, 2025 |
​ | ​ | Carrying Value | ​ | Fair Value | ​ | Carrying Value | ​ | Fair Value | ​ | Carrying Value | ​ | Fair Value |
Financing receivables – net | ​ | $ | 42,916 | ​ | $ | 42,969 | ​ | $ | 44,575 | ​ | $ | 44,779 | ​ | $ | 43,029 | ​ | $ | 43,119 | ​
Financing receivables securitized – net | ​ | ​ | 6,100 | ​ | ​ | 6,113 | ​ | ​ | 6,831 | ​ | ​ | 6,855 | ​ | ​ | 7,765 | ​ | ​ | 7,710 | ​
Receivables from unconsolidated affiliates | ​ | ​ | 279 | ​ | ​ | 282 | ​ | ​ | 392 | ​ | ​ | 400 | ​ | ​ | 557 | ​ | ​ | 557 | ​
Short-term securitization borrowings | ​ | ​ | 5,929 | ​ | ​ | 5,948 | ​ | ​ | 6,596 | ​ | ​ | 6,631 | ​ | ​ | 7,562 | ​ | ​ | 7,588 | ​
Long-term borrowings due within one year | ​ | ​ | 8,880 | ​ | ​ | 8,921 | ​ | ​ | 8,888 |  | ​ | 8,911 | ​ | ​ | 8,928 | ​ | ​ | 8,869 | ​
Long-term borrowings | ​ | ​ | 42,183 | ​ | ​ | 41,842 | ​ | ​ | 43,471 |  | ​ | 43,527 | ​ | ​ | 42,742 | ​ | ​ | 42,423 | ​
Fair value measurements above were Level 3 for all 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, excluding our cash equivalents, which were carried at a cost that approximates fair value and consist of money market funds and time deposits, and excluding our held-to-maturity marketable securities, are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | May 3 | ​ ​ | November 2 | ​ ​ | April 27 |
​ | ​ | 2026 | ​ | 2025 | ​ | 2025 |
Level 1: | ​ | ​ ​ | ​ ​ ​ ​ ​ ​ ​ ​ | ​ ​ | ​ ​ | ​ ​ ​ ​ ​ ​ ​ ​ | ​ ​ | ​ ​ | ​ ​ ​ ​ ​ ​ ​ ​ | ​
Marketable securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government debt securities | ​ | $ | 295 | ​ | $ | 196 | ​ | $ | 259 | ​
Total Level 1 marketable securities | ​ | ​ | 295 | ​ | ​ | 196 | ​ | ​ | 259 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Level 2: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Marketable securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
International fixed income fund | ​ | ​ | 7 | ​ | ​ | 7 | ​ | ​ | 6 | ​
Corporate debt securities | ​ | ​ | 501 | ​ |  | 510 | ​ |  | 452 | ​
International debt securities | ​ | ​ | 145 | ​ | ​ | 174 | ​ | ​ | 154 | ​
Mortgage-backed securities | ​ | ​ | 219 | ​ |  | 234 | ​ |  | 201 | ​
Municipal debt securities | ​ | ​ | 108 | ​ |  | 113 | ​ |  | 87 | ​
U.S. government debt securities | ​ | ​ | 113 | ​ | ​ | 117 | ​ | ​ | 113 | ​
Total Level 2 marketable securities | ​ | ​ | 1,093 | ​ |  | 1,155 | ​ |  | 1,013 | ​
Other assets – Derivatives |  | ​ | 270 | ​ | ​ | 393 | ​ | ​ | 434 | ​
Accounts payable and accrued expenses – Derivatives |  | ​ | 538 | ​ | ​ | 389 | ​ | ​ | 614 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Level 3: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accounts payable and accrued expenses – Deferred consideration | ​ | ​ | 100 | ​ | ​ | 113 | ​ | ​ | 128 | ​
The mortgage-backed securities are primarily issued by U.S. government sponsored enterprises.
Contractual Maturities of Available-for-Sale Debt Securities | The contractual maturities of available-for-sale debt securities at May 3, 2026, follow:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Amortized | ​ ​ ​ | Fair |
​ | ​ | Cost | ​ | Value |
Due in one year or less |  | $ | 44 | ​ | $ | 44 | ​
Due after one through five years | ​ | ​ | 388 | ​ | ​ | 385 | ​
Due after five through 10 years | ​ | ​ | 576 | ​ | ​ | 561 | ​
Due after 10 years | ​ | ​ | 194 | ​ | ​ | 172 | ​
Mortgage-backed securities | ​ | ​ | 242 | ​ | ​ | 219 | ​
Debt securities |  | $ | 1,444 |  | $ | 1,381 | ​
Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Mortgage-backed securities contain prepayment provisions and are not categorized by contractual maturity.
Fair Value, Nonrecurring Level 3 Measurements from Impairments and Other Adjustments | Fair value, nonrecurring Level 3 measurements from impairments and other adjustments were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value | ​ | Losses (Gains) | ​
​ | ​ | ​ | ​ ​ ​ ​ ​ ​ ​ | ​ | ​ | ​ ​ ​ ​ ​ ​ ​ | ​ | ​ | ​ ​ ​ ​ ​ ​ ​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | May 3 | ​ | November 2 | ​ | April 27 | ​ | May 3 | ​ | April 27 | ​ | May 3 | ​ | April 27 | ​
​ | ​ | 2026 | ​ | 2025 | ​ | 2025 | ​ | 2026 | ​ | 2025 | ​ | 2026 | ​ | 20252 |
Property and equipment – net1 | ​ | ​ | ​ | ​ | $ | 1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other intangible assets – net1 | ​ | ​ | ​ | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other assets | ​ | ​ | ​ | ​ | ​ | 8 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets held for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (32) | ​
1 Related to assessments of our external overseas battery operations performed in the third quarter of 2025. 2 The gain on “Assets held for sale” recorded in the first quarter of 2025 represents a reversal of prior period valuation allowance loss, not in excess of the cumulative valuation allowance recorded on “Assets held for sale.”

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- 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 + Details
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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 + Details
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