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DERIVATIVES (Tables)

9 Months Ended

Jul. 31, 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 July 31, 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						303						$	(514)
Net Investment Hedges
Foreign exchange forward contracts						3						$	(33)
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts						184						$	(24)

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 July 31, 2024, and October 31, 2023, were as follows:

Fair Values of Derivative Instruments
Asset Derivatives																		Liability Derivatives
						Fair Value																		Fair Value
Balance Sheet Location						July 31, 2024						October 31, 2023						Balance Sheet Location						July 31, 2024						October 31, 2023
(in millions)
Derivatives designated as hedging instruments:
Cash flow hedges
Foreign exchange contracts
Other current assets						$	5					$	15					Other accrued liabilities						$	3					$	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						$	4					$	1
Total derivatives						$	9					$	19											$	7					$	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												Nine Months Ended
			July 31,												July 31,
			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			$	(3)					$	2					$	(4)					$	(18)
Loss reclassified from accumulated other comprehensive loss into interest expense			$	—					$	—					$	(1)					$	(1)
Gain (loss) reclassified from accumulated other comprehensive loss into cost of sales			$	3					$	(2)					$	8					$	1
Gain on time value of forward contracts recorded in cost of sales			$	2					$	2					$	5					$	5
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)			$	1					$	5					$	2					$	(1)

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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