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INVESTMENTS | 12 Months Ended
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Oct. 31, 2020
Schedule of Investments [Abstract] |
INVESTMENTS | INVESTMENTS The following table summarizes the company's equity investments as of October 31, 2020 and 2019 (net book value):
| October 31,
| 2020 |  | 2019
| (in millions)
Long-Term |  |  |
Equity investments - without readily determinable fair value | $ | 103 |  |  | $ | 47 |
Equity investments - with readily determinable fair value | 25 |  |  | 25 |
Trading securities | 30 |  |  | 30 |
Total | $ | 158 |  |  | $ | 102 |
Equity investments without readily determinable fair value (RDFV) consist of non-marketable equity securities issued by private companies. These investments are accounted for using the measurement alternative at cost adjusting for impairments and observable price changes (orderly transactions for the identical or a similar security from the same issuer). The adjustments are included in net income in the period in which they occur. Equity investments with RDFV consist of shares we own in a special fund and are reported at fair value, with gains or losses resulting from changes in fair value included in net income. Prior to fiscal year 2019, both equity investments without RDFV and with RDFV were accounted for using cost method of accounting, measured at historical cost less other-than-temporary impairment. Trading securities are reported at fair value, with gains or losses resulting from changes in fair value recognized currently in earnings. Our investments without RDFV are subject to periodic impairment review. The impairment analysis requires significant judgment to identify events or circumstances that would likely have a significant adverse effect on the future value of the investment. We recorded a net unrealized loss on our equity securities with RDFV of $1 million in 2020 and a net unrealized gain of $3 million in 2019. Net unrealized gains on our equity securities without RDFV were $27 million and $1 million in 2020 and 2019, respectively. Upon adoption of new accounting guidance relating to financial instruments beginning fiscal year 2019, the gains and losses on such securities are recognized in other income (expense) and therefore not applicable in prior periods. As of November 1, 2019, total impact of adoption of this accounting guidance to our consolidated balance sheet was an increase of $7 million to equity securities with RDFV (included within long-term investments) and a net increase of $5 million to beginning retained earnings. Net unrealized gains on our trading securities portfolio were $2 million in 2020, $3 million in 2019 and $1 million in 2018.

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