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INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2022

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,
			2022						2021						2020
			(in millions)
U.S. operations			$	858					$	876					$	54
Non-U.S. operations			646						484						788
Total income before taxes			$	1,504					$	1,360					$	842

Provision for income taxes

The provision for income taxes is comprised of:

			Years Ended October 31,
			2022						2021						2020
			(in millions)
U.S. federal taxes:
Current			$	173					$	122					$	5
Deferred			(28)						(1)						4
Non-U.S. taxes:
Current			47						(3)						84
Deferred			35						14						24
State taxes, net of federal benefit:
Current			22						17						5
Deferred			1						1						1
Total provision for income taxes			$	250					$	150					$	123

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,
			2022						2021						2020
			(in millions)
Profit before tax times statutory rate			$	316					$	286					$	177
State income taxes, net of federal benefit			23						18						6
Non-U.S. income taxed at different rates			(18)						5						(37)
Change in unrecognized tax benefits			(6)						(84)						(8)
Foreign-derived intangible income deduction			(46)						(35)						(9)
Excess tax benefits from stock-based compensation			(19)						(29)						(18)
Other, net			—						(11)						12
Provision (benefit) for income taxes			$	250					$	150					$	123
Effective tax rate			16.6		%				11.0		%				14.6		%

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,
			2022						2021
			(in millions)
Deferred Tax Assets
Intangibles			$	62					$	72
Employee benefits, other than retirement			45						43
Net operating loss, capital loss, and credit carryforwards			157						191
Share-based compensation			23						22
Lease obligations			29						30
Other			58						42
Deferred tax assets			$	374					$	400
Tax valuation allowance			(115)						(120)
Deferred tax assets, net of valuation allowance			$	259					$	280
Deferred Tax Liabilities
Property, plant and equipment			$	(11)					$	(11)
Pension benefits and retiree medical benefits			(24)						(8)
Right-of-use asset			(29)						(29)
Other			(7)						(26)
Deferred tax liabilities			$	(71)					$	(74)
Net deferred tax assets (liabilities)			$	188					$	206

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

			October 31,
			2022						2021
			(in millions)
Long-term deferred tax assets (included within other assets)			$	246					$	309
Long-term deferred tax liabilities (included within other long-term liabilities)			(58)						(103)
Total			$	188					$	206

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,
			2022						2021
			(in millions)
Current income tax assets (included within other current assets)			$	87					$	66
Long-term income tax assets (included within other assets)			11						6
Current income tax liabilities (included within other accrued liabilities)			(51)						(47)
Long-term income tax liabilities (included within other long-term liabilities)			(216)						(241)
Total			$	(169)					$	(216)

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:

			2022						2021						2020
			(in millions)
Balance, beginning of year			$	133					$	195					$	206
Additions for tax positions related to the current year			5						6						6
Additions for tax positions from prior years			—						4						—
Reductions for tax positions from prior years			(9)						—						—
Settlements with taxing authorities			—						(30)						—
Statute of limitations expirations			(6)						(42)						(17)
Balance, end of year			$	123					$	133					$	195

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