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STOCKHOLDERS' EQUITY (Notes) | 6 Months Ended
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Apr. 30, 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 both the three and six months ended April 30, 2024, we repurchased and retired 1.594 million shares for $230 million, excluding excise taxes of $1 million, under this authorization. During the three and six months ended April 30, 2025, we repurchased and retired 1.347 million shares for $165 million, excluding excise taxes of approximately $2 million and 1.997 million shares for $255 million, excluding excise taxes of approximately $2 million, respectively, under this authorization. As of April 30, 2025, we had remaining authorization to repurchase up to approximately $119 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 and six months ended April 30, 2025, we paid cash dividends of $0.248 per common share or $70 million and $0.496 per common share or $141 million, respectively, on the company's common stock. During the three and six months ended April 30, 2024, we paid cash dividends of $0.236 per common share or $69 million and $0.472 per common share or $138 million, respectively, on the company's common stock. On May 20, 2025, our board of directors declared a quarterly dividend of $0.248 per share of common stock or approximately $70 million which will be paid on July 23, 2025 to all shareholders of record at the close of business on July 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 April 30, 2025 |  |  |  | Foreign currency translation |  | Prior service credits |  | Actuarial Losses |  | Unrealized gains (losses) on derivatives |  | Total
|  |  |  | (in millions)
As of January 31, 2025 |  |  |  | $ | (408) |  |  | $ | 121 |  |  | $ | (112) |  |  | $ | 18 |  |  | $ | (381) |
Other comprehensive income (loss) before reclassifications |  |  |  | 120 |  |  | — |  |  | — |  |  | (18) |  |  | 102 |
Amounts reclassified out of accumulated other comprehensive income (loss) |  |  |  | — |  |  | — |  |  | (6) |  |  | (2) |  |  | (8) |
Tax (expense) benefit |  |  |  | — |  |  | — |  |  | 2 |  |  | 5 |  |  | 7 |
Other comprehensive income (loss) |  |  |  | 120 |  |  | — |  |  | (4) |  |  | (15) |  |  | 101 |
As of April 30, 2025 |  |  |  | $ | (288) |  |  | $ | 121 |  |  | $ | (116) |  |  | $ | 3 |  |  | $ | (280) |
Six Months Ended April 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
As of October 31, 2024 |  |  |  | $ | (323) |  |  | $ | 121 |  |  | $ | (112) |  |  | $ | 9 |  |  | $ | (305) |
Other comprehensive income (loss) before reclassifications |  |  |  | 35 |  |  | — |  |  | — |  |  | (4) |  |  | 31 |
Amounts reclassified out of accumulated other comprehensive income (loss) |  |  |  | — |  |  | — |  |  | (6) |  |  | (5) |  |  | (11) |
Tax (expense) benefit |  |  |  | — |  |  | — |  |  | 2 |  |  | 3 |  |  | 5 |
Other comprehensive income (loss) |  |  |  | 35 |  |  | — |  |  | (4) |  |  | (6) |  |  | 25 |
As of April 30, 2025 |  |  |  | $ | (288) |  |  | $ | 121 |  |  | $ | (116) |  |  | $ | 3 |  |  | $ | (280) |
Reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended April 30, 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 |  | Six Months Ended |  |
|  | April 30, |  | April 30, |  |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
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 derivatives |  | 3 |  |  | 2 |  |  | 6 |  |  | 5 |  |  | Cost of products
Unrealized gain (loss) on derivatives |  | (1) |  |  | (1) |  |  | (1) |  |  | (1) |  |  | Interest expense
|  | 2 |  |  | 1 |  |  | 5 |  |  | 4 |  |  | Total before income tax
|  | (1) |  |  | — |  |  | (2) |  |  | (1) |  |  | (Provision) benefit for income tax
|  | 1 |  |  | 1 |  |  | 3 |  |  | 3 |  |  | Total net of income tax
Net defined benefit pension cost and post retirement plan costs: |  |  |  |  |  |  |  |  |  |
Actuarial net gain (loss) |  | 6 |  |  | 5 |  |  | 6 |  |  | 8 |  |  | Other income (expense), net
|  | 6 |  |  | 5 |  |  | 6 |  |  | 8 |  |  | Total before income tax
|  | (2) |  |  | (1) |  |  | (2) |  |  | (2) |  |  | (Provision) benefit for income tax
|  | 4 |  |  | 4 |  |  | 4 |  |  | 6 |  |  | Total net of income tax
Total reclassifications for the period |  | $ | 5 |  |  | $ | 5 |  |  | $ | 7 |  |  | $ | 17 |  |  |
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").

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