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Fair Value
 6 Months Ended
Apr. 30, 2021
Fair Value Disclosures [Abstract]  
Fair Value Fair ValueFair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date.
The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis:
 As of April 30, 2021As of October 31, 2020
 Fair Value
Measured Using		Fair Value
Measured Using
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Remaining Inputs (Level 2)
Significant Other Unobservable Remaining Inputs
(Level 3)
Total
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Remaining Inputs (Level 2)
Significant Other Unobservable Remaining Inputs
(Level 3)
Total
 In millions
Assets        
Cash Equivalents and Investments:        
Time deposits$— $893 $— $893 $— $939 $— $939 
Money market funds1,955 — — 1,955 1,167 — — 1,167 
Equity securities4 — 92 96 — — — — 
Foreign bonds— 127 — 127 — 125 — 125 
Other debt securities— — 18 18 — — 21 21 
Derivative Instruments:        
Interest rate contracts— 150 — 150 — 220 — 220 
Foreign exchange contracts— 151 — 151 — 290 — 290 
Other derivatives— 2 — 2 — — — — 
Total assets$1,959 $1,323 $110 $3,392 $1,167 $1,574 $21 $2,762 
Liabilities        
Derivative Instruments:        
Interest rate contracts$— $— $— $— $— $2 $— $2 
Foreign exchange contracts— 299 — 299 — 189 — 189 
Other derivatives— — — — — 3 — 3 
Total liabilities$— $299 $— $299 $— $194 $— $194 
The Company uses valuation techniques that are based upon observable and unobservable inputs. Observable inputs are developed using market data such as publicly available information and reflect the assumptions market participants would use, while unobservable inputs are developed using the best information available about the assumptions market participants would use.
Other Fair Value Disclosures
Short-Term and Long-Term Debt: As of April 30, 2021 and October 31, 2020, the estimated fair value of the Company's short-term and long-term debt was $17.1 billion. As of April 30, 2021 and October 31, 2020, the carrying value of the Company's short-term and long-term debt was $15.8 billion and $15.9 billion, respectively. If measured at fair value in the Consolidated Balance Sheets, short-term and long-term debt would be classified in Level 2 of the fair value hierarchy.
Equity investments without readily determinable fair value: Equity Investments are recorded at cost and measured at fair value, when they are deemed to be impaired or when there is an adjustment from observable price changes. During the three months ended April 30, 2021, the Company recognized a gain of $25 million in Interest and other, net in the Condensed Consolidated Statements of Earnings, based on observable price changes for certain equity investments without readily determinable fair value. If measured at fair value in the Consolidated Balance Sheets, these would generally be classified in Level 3 of the fair value hierarchy.
Non-Financial Assets: The Company's non-financial assets, such as intangible assets, goodwill and property, plant and equipment, are recorded at cost. The Company records ROU asset based on the lease liability, adjusted for lease prepayments, lease incentives received, and the lessee's initial direct costs. Fair value adjustments are made to these non-financial assets in the period an impairment charge is recognized.
During the three and six months ended April 30, 2021, the Company recorded a right of-use ("ROU") asset impairment charge of $19 million and $68 million, respectively in Transformation costs in the Condensed Consolidated Statements of Earnings as the carrying value of certain ROU assets exceeded its fair value. If measured at fair value in the Condensed Consolidated Balance Sheets, these would generally be classified in Level 3 of the fair value hierarchy.
In the second quarter of fiscal 2020, the Company recorded a goodwill impairment charge of $865 million associated with the HPC & MCS reporting unit. The fair value of the Company's reporting units was classified in Level 3 of the fair value hierarchy due to the significance of unobservable inputs developed using company-specific information. For more information on the goodwill impairment, see Note 8 "Goodwill".