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DERIVATIVES (Tables) | 6 Months Ended
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Apr. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Aggregated notional amounts by designation | The number of open foreign exchange forward contracts and aggregated notional amounts by designation as of April 30, 2024 were as follows:
|  | Number of Open Forward Contracts |  | Aggregate Notional Amount USD
|  |  | Buy/(Sell)
|  |  |  | ($ in millions)
Derivatives designated as hedging instruments: |  |  |  |
Cash Flow Hedges |  |  |  |
Foreign exchange forward contracts |  | 288 |  | $ | (422) |
Net Investment Hedges |  |  |  |
Foreign exchange forward contracts |  | 3 |  | $ | (11) |
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange forward contracts |  | 192 |  | $ | (49) |
Gross fair values and balance sheet location of derivative instruments held in the consolidated balance sheet | Derivative instruments are subject to master netting arrangements and are disclosed gross in the balance sheet in accordance with the authoritative guidance. The gross fair values and balance sheet location of derivative instruments held in the condensed consolidated balance sheet as of April 30, 2024, and October 31, 2023, were as follows:
Fair Values of Derivative Instruments
Asset Derivatives |  | Liability Derivatives
|  | Fair Value |  |  |  | Fair Value
Balance Sheet Location |  | April 30, 2024 |  | October 31, 2023 |  | Balance Sheet Location |  | April 30, 2024 |  | October 31, 2023
(in millions)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 10 |  |  | $ | 15 |  |  | Other accrued liabilities |  | $ | 1 |  |  | $ | 1 |
Net investment hedges |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | — |  |  | $ | 1 |  |  | Other accrued liabilities |  | $ | — |  |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 4 |  |  | $ | 3 |  |  | Other accrued liabilities |  | $ | 3 |  |  | $ | 1 |
Total derivatives |  | $ | 14 |  |  | $ | 19 |  |  |  |  | $ | 4 |  |  | $ | 2 |
Effect of derivative instruments for foreign exchange contracts in the consolidated statement of operations | The effects of derivative instruments for foreign exchange contracts designated as hedging instruments and not designated as hedging instruments in our condensed consolidated statement of operations were as follows:
| Three Months Ended |  | Six Months Ended
| April 30, |  | April 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (in millions)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Cash Flow Hedges |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |
Gain (loss) recognized in accumulated other comprehensive loss | $ | 9 |  |  | $ | 11 |  |  | $ | (1) |  |  | $ | (20) |
Loss reclassified from accumulated other comprehensive loss into interest expense | $ | (1) |  |  | $ | — |  |  | $ | (1) |  |  | $ | — |
Gain (loss) reclassified from accumulated other comprehensive loss into cost of sales | $ | 2 |  |  | $ | (4) |  |  | $ | 5 |  |  | $ | 2 |
Gain on time value of forward contracts recorded in cost of sales | $ | 2 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 3 |
Net Investment Hedges |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |
Gain (loss) recognized in accumulated other comprehensive loss - translation adjustment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1) |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Gain (loss) recognized in other income (expense) | $ | 3 |  |  | $ | 7 |  |  | $ | 1 |  |  | $ | (6) |

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