LEASES (Tables)

12 Months Ended

Oct. 31, 2021

The components of lease cost for operating leases were as follows:


	Year Ended October 31,
	2021		2020
	(in millions)
Operating lease cost	$	59	$	60
Short-term lease cost	2		1
Variable lease cost (a)	14		14
Sublease income	(13)		(14)
Total lease cost	$	62	61

(a) Variable lease cost includes cancelable leases, non-fixed maintenance costs and non-recoverable transaction taxes.

Total rent expense was $75 million in 2019.

Supplemental cash flow information related to leases was as follows:


	Year Ended October 31,
	2021		2020
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating leases	$	57	$	59
Non-cash right of use assets obtained in exchange for operating lease obligations	$	53	$	37

Lessee Assets and Liabilities

Supplemental balance sheet information related to leases was as follows:


		October 31,
	Financial Statement Line Item	2021			2020
		(in millions, except lease term and discount rate)
Assets:
Operating lease:
Right of use asset	Other assets	$	178		$	175

Liabilities:
Current
Operating lease liabilities	Other accrued liabilities	$	52		$	51
Long-term
Operating lease liabilities	Other long-term liabilities	$	130		$	127

Weighted average remaining lease term (in years)
Operating leases		7.6 years			7.9 years

Weighted average discount rate
Operating leases		1.9		%	2.1		%

Schedule of Future Minimum Rent Payments

Future minimum rents payable as of October 31, 2021 under non-cancelable leases with initial terms exceeding one year reconcile to lease liabilities included in the consolidated balance sheet as follows:


	Operating Leases
	(in millions)
2022	$	55
2023	44
2024	27
2025	15
2026	10
Thereafter	48
Total undiscounted future minimum lease payments	$	199
Less: amount of lease payments representing interest	(17)
Present value of future minimum lease payments	$	182
Less: current liabilities	(52)
Long-term lease liabilities	$	130