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RESTRUCTURING AND OTHER RELATED COSTS | 6 Months Ended
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Apr. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure | RESTRUCTURING AND OTHER RELATED COSTS In the fourth quarter of fiscal year 2023, we initiated a restructuring plan ("FY23 Plan") designed to reduce costs and expenses in response to the current macroeconomic conditions. The plan included a reduction of our total headcount by approximately 400 regular employees, representing approximately 2 percent of our global workforce, and the consolidation of our excess facilities, including some site closures. In connection with this plan, we have recorded approximately $1 million and $4 million in restructuring and other related costs in the three and six months ended April 30, 2024, respectively, for a total of $50 million since inception. The restructuring plan costs include severance and other personnel costs associated with the workforce reduction. The consolidation of excess facilities includes accelerated depreciation expenses of right-of-use ("ROU") and machinery and equipment assets, and other facilities-related costs. The timing and scope of the workforce reductions will vary based on local legal requirements. These actions impact all three of our business segments. The costs associated with this restructuring plan have not been allocated to our business segments' results; however, each business segment will benefit from the future cost savings from these actions. When completed, the restructuring program is expected to result in the reduction in annual cost of sales and operating expenses over the three business segments. While the majority of the workforce reduction was completed in the first quarter of 2024, we expect to substantially complete the remaining restructuring activities by the end of fiscal year 2024. A summary of total restructuring activity is shown in the table below:
| Workforce Reduction |  | Consolidation of Excess Facilities |  |  |  | Total
| (in millions)
Balance at October 31, 2023 | $ | 31 |  |  | $ | 5 |  |  |  |  | $ | 36 |
Income statement expense | 2 |  |  | 1 |  |  |  |  | 3 |
Accelerated depreciation expenses of right-of-use assets | — |  |  | (1) |  |  |  |  | (1) |
Cash payments | (25) |  |  | (2) |  |  |  |  | (27) |
Balance at January 31, 2024 | 8 |  |  | 3 |  |  |  |  | 11 |
Income statement expense | 1 |  |  | — |  |  |  |  | 1 |
Cash payments | (5) |  |  | (1) |  |  |  |  | (6) |
Balance at April 30, 2024 | $ | 4 |  | $ | 4 |  | $ | 2 |  |  |  |  | $ | 6 |
The restructuring and other related costs of $6 million at April 30, 2024, are recorded in other accrued liabilities on the condensed consolidated balance sheet and reflect estimated future cash outlays. A summary of the charges in the condensed consolidated statement of operations resulting from the restructuring plan is shown below:
|  | Three Months Ended |  | Six Months Ended
|  | April 30, |  | April 30,
|  | 2024 |  | 2024
|  | (in millions)
Cost of products and services |  | $ | — |  |  | $ | — |
Research and Development |  | — |  |  | 2 |
Selling, general and administrative |  | 1 |  |  | 2 |
Total restructuring costs |  | $ | 1 |  |  | $ | 4 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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