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RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Tables)

12 Months Ended

Oct. 31, 2023

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Defined Contribution Plan Disclosures

Our defined contribution plan expenses included in income from operations were as follows:

			Years Ended October 31,
			2023						2022						2021
			(in millions)
Contributions to the 401(k) Plan			$	47					$	46					$	43
Contributions to plans outside the U.S			51						47						43
Total defined contribution plan expense			$	98					$	93					$	86

Schedule of Net Benefit Costs

For the years ended October 31, 2023, 2022 and 2021, components of net periodic benefit cost and other amounts recognized in other comprehensive income were comprised of:

			Pensions																																				U.S. Post-Retirement Benefit Plans
			U.S. Plans																		Non-U.S. Plans
			2023						2022						2021						2023						2022						2021						2023						2022						2021
			(in millions)
Net periodic benefit cost (benefit)
Service cost — benefits earned during the period			$	—					$	—					$	—					$	16					$	22					$	22					$	—					$	1					$	1
Interest cost on benefit obligation			21						14						14						24						9						8						4						2						2
Expected return on plan assets			(19)						(27)						(29)						(36)						(43)						(49)						(4)						(6)						(6)
Amortization of net actuarial (gain) loss			—						—						4						(2)						25						53						(1)						(2)						4
Amortization of prior service benefit			—						—						—						—						—						—						(1)						(1)						(1)
Total periodic benefit cost (benefit)			$	2					$	(13)					$	(11)					$	2					$	13					$	34					$	(2)					$	(6)					$	—
Settlement loss			$	4					$	4					$	1					$	—					$	—					$	—					$	—					$	—					$	—
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
Net actuarial (gain) loss			$	22					$	16					$	(92)					$	(13)					$	(83)					$	(114)					$	9					$	15					$	(30)
Amortization of net actuarial (gain) loss			—						—						(4)						2						(25)						(53)						1						2						(4)
Amortization of prior service benefit			—						—						—						—						—						—						1						1						1
Loss due to settlement			(4)						(4)						(1)						—						—						—						—						—						—
Foreign currency			—						—						—						2						11						5						—						—						—
Total recognized in other comprehensive (income) loss			$	18					$	12					$	(97)					$	(9)					$	(97)					$	(162)					$	11					$	18					$	(33)
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss			$	24					$	3					$	(107)					$	(7)					$	(84)					$	(128)					$	9					$	12					$	(33)

Schedule of Funded status of Defined Benefit and Post-Retirement Benefit plans

Funded Status.    As of October 31, 2023 and 2022, the funded status of the defined benefit and post-retirement benefit plans was:

			U.S. Defined Benefit Plans												Non-U.S. Defined Benefit Plans												U.S. Post-Retirement Benefit Plans
			2023						2022						2023						2022						2023						2022
			(in millions)
Change in fair value of plan assets:
Fair value — beginning of year			$	396					$	551					$	748					$	1,093					$	85					$	116
Actual return on plan assets			(8)						(122)						14						(147)						(2)						(26)
Employer contributions			—						—						21						17						—						—
Participants' contributions			—						—						1						1						—						—
Benefits paid			(8)						(10)						(35)						(35)						(7)						(5)
Settlements			(21)						(23)						—						—						—						—
Currency impact			—						—						42						(181)						—						—
Fair value — end of year			$	359					$	396					$	791					$	748					$	76					$	85
Change in benefit obligation:
Benefit obligation — beginning of year			$	357					$	512					$	665					$	1,100					$	65					$	84
Service cost			—						—						16						22						—						1
Interest cost			21						14						24						9						4						2
Participants' contributions			—						—						1						1						—						—
Actuarial (gain) loss			(5)						(133)						(33)						(262)						3						(17)
Benefits paid			(9)						(10)						(35)						(35)						(7)						(5)
Settlements			(21)						(26)						—						—						—						—
Currency impact			—						—						44						(170)						—						—
Benefit obligation — end of year			$	343					$	357					$	682					$	665					$	65					$	65
Overfunded (underfunded) status of PBO			$	16					$	39					$	109					$	83					$	11					$	20

Amounts recognized in the consolidated balance sheet

Amounts recognized in the consolidated balance sheet consist of:
Other assets			$	19					$	42					$	174					$	140					$	11					$	20
Employee compensation and benefits			(1)						(1)						—						—						—						—
Retirement and post-retirement benefits			(2)						(2)						(65)						(57)						—						—
Total net asset (liability)			$	16					$	39					$	109					$	83					$	11					$	20

Amounts recognized in accumulated other comprehensive income (loss)

Amounts Recognized in Accumulated Other Comprehensive Income (Loss):
Actuarial (gains) losses			$	66					$	48					$	43					$	52					$	4					$	(6)
Prior service costs (benefits)			—						—						—						—						(2)						(3)
Total			$	66					$	48					$	43					$	52					$	2					$	(9)

Schedule of Allocation of Plan Assets

The following tables present the fair value of U.S. Defined Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2023 and 2022.

									Fair Value Measurement at October 31, 2023 Using
			October 31, 2023						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Not Subject to Leveling (1)
			(in millions)
Cash and Cash Equivalents			$	2					$	—					$	—					$	—					$	2
Equity			182						44						—						—						138
Fixed Income			174						—						—						—						174
Other Investments			1						—						—						1						—
Total assets measured at fair value			$	359					$	44					$	—					$	1					$	314

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

									Fair Value Measurement at October 31, 2022 Using
			October 31, 2022						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Not Subject to Leveling (1)
			(in millions)
Cash and Cash Equivalents			$	1					$	—					$	—					$	—					$	1
Equity			194						49						—						—						145
Fixed Income			199						—						—						—						199
Other Investments			2						—						—						2						—
Total assets measured at fair value			$	396					$	49					$	—					$	2					$	345

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

The following tables present the fair value of U.S. Post-Retirement Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2023 and 2022.

									Fair Value Measurement at October 31, 2023 Using
			October 31, 2023						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Not Subject to Leveling (1)
			(in millions)
Cash and Cash Equivalents			$	—					$	—					$	—					$	—					$	—
Equity			39						10						—						—						29
Fixed Income			36						—						—						—						36
Other Investments			1						—						—						1						—
Total assets measured at fair value			$	76					$	10					$	—					$	1					$	65

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

									Fair Value Measurement at October 31, 2022 Using
			October 31, 2022						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Not Subject to Leveling (1)
			(in millions)
Cash and Cash Equivalents			$	—					$	—					$	—					$	—					$	—
Equity			42						10						—						—						32
Fixed Income			42						—						—						—						42
Other Investments			1						—						—						1						—
Total assets measured at fair value			$	85					$	10					$	—					$	1					$	74

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

The following tables present the fair value of non-U.S. Defined Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2023 and 2022:

									Fair Value Measurement at October 31, 2023 Using
			October 31, 2023						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Not Subject to Leveling (1)
			(in millions)
Cash and Cash Equivalents			$	17					$	1					$	16					$	—					$	—
Equity			367						266						—						—						101
Fixed Income			321						113						113						—						95
Annuity Contract			86						—						—						86						—
Total assets measured at fair value			$	791					$	380					$	129					$	86					$	196

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

									Fair Value Measurement at October 31, 2022 Using
			October 31, 2022						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Not Subject to Leveling (1)
			(in millions)
Cash and Cash Equivalents			$	22					$	—					$	22					$	—					$	—
Equity			360						264						—						—						96
Fixed Income			274						83						98						—						93
Annuity Contract			92						—						—						92						—
Total assets measured at fair value			$	748					$	347					$	120					$	92					$	189

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

.

Defined benefit plans assets measured at fair value using significant unobservable inputs (level 3)

For U.S. Defined Benefit Plans assets measured at fair value using significant unobservable inputs (level 3), the following table summarizes the change in balances during 2023 and 2022:

			Years Ended October 31.
			2023						2022
Balance, beginning of year			$	2					$	2
Realized gains/(losses)			—						—
Unrealized gains/(losses)			—						—
Purchases, sales, issuances, and settlements			(1)						—
Transfers in (out)			—						—
Balance, end of year			$	1					$	2

For U.S. Post-Retirement Benefit Plans assets measured at fair value using significant unobservable inputs (level 3), the following table summarizes the change in balances during 2023 and 2022:

			Years Ended October 31,
			2023						2022
Balance, beginning of year			$	1					$	1
Realized gains/(losses)			—						—
Unrealized gains/(losses)			—						—
Purchases, sales, issuances, and settlements			—						—
Transfers in (out)			—						—
Balance, end of year			$	1					$	1

For non-U.S. Defined Benefit Plans assets measured at fair value using significant unobservable inputs (level 3), the following table summarizes the change in balances during 2023 and 2022:

			Years Ended October 31,
			2023						2022
Balance, beginning of year			$	92					$	—
Unrealized losses			(5)						(39)
Purchases, sales, issuances, and settlements			(6)						(5)
Transfers in (out)			—						159
Currency impact			5						(23)
Balance, end of year			$	86					$	92

Combined projected benefit obligation, accumulated benefit obligations and fair value of plan assets

The table below presents the combined projected benefit obligation ("PBO"), accumulated benefit obligation ("ABO") and fair value of plan assets, grouping plans using comparisons of the PBO and ABO relative to the plan assets as of October 31, 2023 or 2022.

			2023												2022
			Benefit Obligation												Benefit Obligation
									Fair Value of Plan Assets												Fair Value of Plan Assets
			PBO												PBO
			(in millions)
U.S. defined benefit plans where PBO exceeds the fair value of plan assets			$	3					$	—					$	3					$	—
U.S. defined benefit plans where fair value of plan assets exceeds PBO			340						359						354						396
Total			$	343					$	359					$	357					$	396
Non-U.S. defined benefit plans where PBO exceeds the fair value of plan assets			$	197					$	132					$	172					$	114
Non-U.S. defined benefit plans where fair value of plan assets exceeds PBO			485						659						493						634
Total			$	682					$	791					$	665					$	748
			ABO												ABO
U.S. defined benefit plans where ABO exceeds the fair value of plan assets			$	3					$	—					$	3					$	—
U.S. defined benefit plans where the fair value of plan assets exceeds ABO			340						359						354						396
Total			$	343					$	359					$	357					$	396
Non-U.S. defined benefit plans where ABO exceeds the fair value of plan assets			$	192					$	132					$	167					$	114
Non-U.S. defined benefit plans where fair value of plan assets exceeds ABO			480						659						485						634
Total			$	672					$	791					$	652					$	748

Schedule of expected benefit payments

The following table presents expected future benefit payments for the next 10 years:

			U.S. Defined Benefit Plans						Non-U.S. Defined Benefit Plans						U.S. Post-Retirement Benefit Plans
			(in millions)
2024			$	33					$	35					$	7
2025			$	31					$	36					$	7
2026			$	31					$	37					$	8
2027			$	32					$	37					$	8
2028			$	32					$	39					$	8
2029 - 2033			$	142					$	202					$	33

Assumptions used to calculate the net periodic cost and benefit obligation

Assumptions used to calculate the net periodic cost (benefit) in each year were as follows:

			For years ended October 31,
			2023						2022						2021
U.S. defined benefit plans:
Discount rate			6.00%						2.75%						2.75%
Expected long-term return on assets			5.00%						5.00%						7.00%
Non-U.S. defined benefit plans:
Discount rate			1.50-4.77%						0.29-1.76%						0.07-1.54%
Average increase in compensation levels			2.00-3.25%						2.00-3.50%						2.00-3.00%
Expected long-term return on assets			3.25-5.50%						2.75-5.50%						4.00-5.50%
Interest crediting rate for cash balance plans			0.50-2.10%						0.30-0.50%						0.10-0.50%
U.S. post-retirement benefits plans:
Discount rate			6.00%						2.75%						2.50%
Expected long-term return on assets			5.00%						5.00%						7.00%
Current medical cost trend rate			7.00%						6.00%						6.25%
Ultimate medical cost trend rate			4.75%						4.50%						4.50%
Medical cost trend rate decreases to ultimate rate in year			2029						2027						2029

Assumptions used to calculate the benefit obligation were as follows:

			As of the Years Ending October 31,
			2023						2022
U.S. defined benefit plans:
Discount rate			6.50%						6.00%
Non-U.S. defined benefit plans:
Discount rate			1.78-5.63%						1.50-4.77%
Average increase in compensation levels			2.00-3.25%						2.00-3.25%
Interest crediting rate for cash balance plans			0.50-1.80%						0.50-2.10%
U.S. post-retirement benefits plans:
Discount rate			6.60%						6.00%
Current medical cost trend rate			6.50%						7.00%
Ultimate medical cost trend rate			4.75%						4.75%
Medical cost trend rate decreases to ultimate rate in year			2029						2029

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