XML 36 R25.htm IDEA: XBRL DOCUMENT v3.25.0.1
STOCKHOLDERS' EQUITY (Notes)
 3 Months Ended
Jan. 31, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS EQUITY STOCKHOLDERS' EQUITY
 
Stock Repurchase Programs
 
On January 9, 2023, we announced that our board of directors had approved a share repurchase program (the "2023 repurchase program") designed, among other things, to reduce or eliminate dilution resulting from issuance of stock under the company's employee equity incentive programs. The 2023 repurchase program authorizes the purchase of up to $2.0 billion, excluding excise taxes, of our common stock at the company's discretion and has no fixed termination date. The 2023 repurchase program does not require the company to acquire a specific number of shares and may be suspended, amended or discontinued at any time. The 2023 repurchase program commenced on March 1, 2023.

During the three months ended January 31, 2024, we repurchased and retired no shares under this authorization. During the three months ended January 31, 2025, we repurchased and retired 649,857 shares for $90 million under this authorization. As of January 31, 2025, we had remaining authorization to repurchase up to approximately $284 million of our common stock under the 2023 repurchase program.

On May 29, 2024, we announced that our board of directors had approved a new share repurchase program (the "2024 repurchase program") designed, among other things, to reduce or eliminate dilution resulting from issuance of stock under the company's employee equity incentive programs. The 2024 repurchase program authorizes the purchase of up to $2.0 billion, excluding excise taxes, of our common stock at the company's discretion and has no fixed termination date. The 2024 repurchase program does not require the company to acquire a specific number of shares and may be suspended, amended or discontinued at any time. The 2024 repurchase program became effective on August 1, 2024 and will commence upon the termination of our 2023 repurchase program.
 
Cash Dividends on Shares of Common Stock
 
During the three months ended January 31, 2025, we paid cash dividends of $0.248 per common share or $71 million on the company's common stock. During the three months ended January 31, 2024, we paid cash dividends of $0.236 per common share or $69 million on the company's common stock.

On February 19, 2025, our board of directors declared a quarterly dividend of $0.248 per share of common stock or approximately $71 million which will be paid on April 23, 2025 to all shareholders of record at the close of business on April 1, 2025.
The timing and amounts of any future dividends are subject to determination and approval by our board of directors.
Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component and related tax effects were as follows:
Net defined benefit pension cost and post retirement plan costs
Three Months Ended January 31, 2025Foreign currency translationPrior service creditsActuarial LossesUnrealized gains (losses) on derivativesTotal
(in millions)
As of October 31, 2024$(323)$121 $(112)$9 $(305)
Other comprehensive income (loss) before reclassifications(85)— — 14 (71)
Amounts reclassified out of accumulated other comprehensive income (loss)— — — (3)(3)
Tax (expense) benefit— — — (2)(2)
Other comprehensive income (loss)(85)— — 9 (76)
As of January 31, 2025$(408)$121 $(112)$18 $(381)

Reclassifications out of accumulated other comprehensive income (loss) for the three months ended January 31, 2025 and 2024 were as follows (in millions):
Details about accumulated other
comprehensive income (loss) components		Amounts Reclassified from
other comprehensive income (loss)		Affected line item in
statement of operations
Three Months Ended
January 31,
20252024
Foreign currency translation$— $8 Other income (expense), net
— 8 Total before income tax
— — (Provision) benefit for income tax
— 8 Total net of income tax
Unrealized gain (loss) on derivatives3 3 Cost of products
3 3 Total before income tax
(1)(1)(Provision) benefit for income tax
2 2 Total net of income tax
Net defined benefit pension cost and post retirement plan costs:
Actuarial net gain (loss)— 3 Other income (expense), net
— 3 Total before income tax
— (1)(Provision) benefit for income tax
— 2 Total net of income tax
Total reclassifications for the period$2 $12 

Amounts in parentheses indicate reductions to income and increases to other comprehensive income (loss).

Reclassifications out of accumulated other comprehensive income (loss) of actuarial net gain (loss) in respect of retirement plans and post retirement pension plans are included in the computation of net periodic benefit cost (income) (see Note 11, "Retirement Plans and Post Retirement Pension Plans").