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INVESTMENTS
 12 Months Ended
Oct. 31, 2022
Schedule of Investments [Abstract]  
Investment Holdings, Schedule of Investments INVESTMENTS
The following table summarizes the company's equity investments as of October 31, 2022 and 2021 (net book value):

 October 31,
 20222021
 (in millions)
Short-Term
Equity investments - with readily determinable fair value$— 91 
Long-Term  
Equity investments - without readily determinable fair value$141 $120 
Equity investments - with readily determinable fair value23 31 
Trading securities31 34 
Total long-term investments$195 $185 

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 marketable equity securities which are publicly traded and are reported at fair value, with gains or losses resulting from changes in fair value included in net income. Other 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.

Trading securities, which are comprised of mutual funds, bonds and other similar instruments, other investments and deferred compensation liability are reported at fair value, with gains or losses resulting from changes in fair value recognized currently in net income.

Our investments without RDFV and marketable equity securities with 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.

Gains and losses reflected in other income (expense), net for our equity investments with RDFV and equity investments without RDFV are summarized below:
Years Ended October 31,
202220212020
( in millions)
Net gain (loss) recognized during the period on equity securities$(67)$98 $27 
Less: Net gain on equity securities sold during the period11 6 — 
Unrealized gain (loss) on equity securities held as of the end of the period$(78)$92 $27 
Unrealized gains on our equity securities without RDFV were $6 million, $17 million and $27 million in 2022, 2021 and 2020, respectively.

In 2022, net unrealized losses on our trading securities were $7 million. In 2021 and 2020, net unrealized gains on our trading securities were $8 million and $2 million, respectively.

There were no impairments of investments in 2022, 2021 and 2020.