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INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2021

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income before Taxes

The domestic and foreign components of income before taxes are:

			Years Ended October 31,
			2021						2020						2019
			(in millions)
U.S. operations			$	876					$	54					$	189
Non-U.S. operations			484						788						730
Total income before taxes			$	1,360					$	842					$	919

Provision for income taxes

The provision for income taxes is comprised of:

			Years Ended October 31,
			2021						2020						2019
			(in millions)
U.S. federal taxes:
Current			$	122					$	5					$	(191)
Deferred			(1)						4						—
Non-U.S. taxes:
Current			(3)						84						290
Deferred			14						24						(267)
State taxes, net of federal benefit:
Current			17						5						4
Deferred			1						1						12
Total provision (benefit)			$	150					$	123					$	(152)

Tax rate reconciliation, U.S. federal statutory rate to effective tax rate from operations

The differences between the U.S. federal statutory income tax rate and our effective tax rate are:

			Years Ended October 31,
			2021						2020						2019
			(in millions)
Profit before tax times statutory rate			$	286					$	177					$	193
State income taxes, net of federal benefit			18						6						16
Non-U.S. income taxed at different rates			5						(37)						(10)
Change in unrecognized tax benefits			(84)						(8)						(11)
Foreign-derived intangible income deduction			(35)						(9)						—
Extension of the tax incentive in Singapore			—						—						(299)
Excess tax benefits from stock-based compensation			(29)						(18)						(10)
Other, net			(11)						12						(31)
Provision (benefit) for income taxes			$	150					$	123					$	(152)
Effective tax rate			11.0		%				14.6		%				(16.5)		%

Significant components of deferred tax assets and deferred tax liabilities

The significant components of deferred tax assets and deferred tax liabilities included on the consolidated balance sheet are:

			Years Ended October 31,
			2021						2020
			(in millions)
Deferred Tax Assets
Intangibles			$	72					$	153
Pension benefits and retiree medical benefits			—						65
Employee benefits, other than retirement			43						31
Net operating loss, capital loss, and credit carryforwards			191						182
Share-based compensation			22						27
Lease obligations			30						35
Other			42						63
Deferred tax assets			$	400					$	556
Tax valuation allowance			(120)						(132)
Deferred tax assets, net of valuation allowance			$	280					$	424
Deferred Tax Liabilities
Property, plant and equipment			$	(11)					$	(19)
Pension benefits and retiree medical benefits			(8)						—
Right-of-use asset			(29)						(35)
Other			(26)						(14)
Deferred tax liabilities			$	(74)					$	(68)
Net deferred tax assets (liabilities)			$	206					$	356

The breakdown between long-term deferred tax assets and deferred tax liabilities was as follows:

			October 31,
			2021						2020
			(in millions)
Long-term deferred tax assets (included within other assets)			$	309					$	380
Long-term deferred tax liabilities (included within other long-term liabilities)			(103)						(24)
Total			$	206					$	356

Current and Long Term Tax Assets and Liabilities [Table Text Block]

The breakdown between current and long-term income tax assets and liabilities, excluding deferred tax assets and liabilities, was as follows:

			October 31,
			2021						2020
			(in millions)
Current income tax assets (included within other current assets)			$	66					$	89
Long-term income tax assets (included within other assets)			6						6
Current income tax liabilities (included within other accrued liabilities)			(47)						(63)
Long-term income tax liabilities (included within other long-term liabilities)			(241)						(323)
Total			$	(216)					$	(291)

Aggregate Changes in Gross Unrecognized Tax Benefits

The aggregate changes in the balances of our gross unrecognized tax benefits including all federal, state and foreign tax jurisdictions are as follows:

			2021						2020						2019
			(in millions)
Balance, beginning of year			$	195					$	206					$	214
Additions for tax positions related to the current year			6						6						7
Additions for tax positions from prior years			4						—						12
Reductions for tax positions from prior years			—						—						(2)
Settlements with taxing authorities			(30)						—						—
Statute of limitations expirations			(42)						(17)						(25)
Balance, end of year			$	133					$	195					$	206

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