RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Tables)

12 Months Ended

Oct. 31, 2024

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Defined Contribution Plan Disclosures

Our defined contribution plan expenses included in income from operations were as follows:

	Years Ended October 31,
	2024		2023		2022
	(in millions)
Contributions to the 401(k) Plan	$	46	$	47	$	46
Contributions to plans outside the U.S	51		51		47
Total defined contribution plan expense	$	97	$	98	$	93

Schedule of Net Benefit Costs

For the years ended October 31, 2024, 2023 and 2022, components of net periodic benefit cost and other amounts recognized in other comprehensive income were comprised of:

	Pensions												U.S. Post-Retirement Benefit Plans
	U.S. Defined Benefit Plans						Non-U.S. Defined Benefit Plans
	2024		2023		2022		2024		2023		2022		2024		2023		2022
	(in millions)
Net periodic benefit cost (income)
Service cost - benefits earned during the period	$	—	$	—	$	—	$	15	$	16	$	22	$	1	$	—	$	1
Interest cost on benefit obligation	21		21		14		26		24		9		4		4		2
Expected return on plan assets	(21)		(19)		(27)		(37)		(36)		(43)		(4)		(4)		(6)
Amortization of net actuarial (gain) loss	2		—		—		(16)		(2)		25		(1)		(1)		(2)
Amortization of prior service benefit	—		—		—		—		—		—		(1)		(1)		(1)
Total net periodic benefit cost (income)	$	2	$	2	$	(13)	$	(12)	$	2	$	13	$	(1)	$	(2)	$	(6)
Settlement loss	$	2	$	4	$	4	$	—	$	—	$	—	$	—	$	—	$	—
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
Net actuarial (gain) loss	$	(31)	$	22	$	16	$	(24)	$	(13)	$	(83)	$	(11)	$	9	$	15
Amortization of net actuarial (gain) loss	(2)		—		—		16		2		(25)		1		1		2
Amortization of prior service benefit	—		—		—		—		—		—		1		1		1
Loss due to settlement	(2)		(4)		(4)		—		—		—		—		—		—
Foreign currency	—		—		—		2		2		11		—		—		—
Total recognized in other comprehensive (income) loss	$	(35)	$	18	$	12	$	(6)	$	(9)	$	(97)	$	(9)	$	11	$	18
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss	$	(31)	$	24	$	3	$	(18)	$	(7)	$	(84)	$	(10)	$	9	$	12

Schedule of Funded status of Defined Benefit and Post-Retirement Benefit plans

Funded Status.    As of October 31, 2024 and 2023, the funded status of the defined benefit and post-retirement benefit plans was:

	U.S. Defined Benefit Plans				Non-U.S. Defined Benefit Plans				U.S. Post-Retirement Benefit Plans
	2024		2023		2024		2023		2024		2023
	(in millions)
Change in fair value of plan assets:
Fair value — beginning of year	$	359	$	396	$	791	$	748	$	76	$	85
Actual return on plan assets	88		(8)		119		14		16		(2)
Employer contributions	—		—		20		21		—		—
Participants' contributions	—		—		2		1		—		—
Benefits paid	(10)		(8)		(36)		(35)		(6)		(7)
Settlements	(23)		(21)		—		—		—		—
Currency impact	—		—		21		42		—		—
Fair value — end of year	$	414	$	359	$	917	$	791	$	86	$	76
Change in benefit obligation:
Benefit obligation — beginning of year	$	343	$	357	$	682	$	665	$	65	$	65
Service cost	—		—		15		16		1		—
Interest cost	21		21		26		24		4		4
Participants' contributions	—		—		2		1		—		—
Actuarial (gain) loss	36		(5)		60		(33)		1		3
Benefits paid	(11)		(9)		(36)		(35)		(6)		(7)
Settlements	(23)		(21)		—		—		—		—
Currency impact	—		—		23		44		—		—
Benefit obligation — end of year	$	366	$	343	$	772	$	682	$	65	$	65
Overfunded (underfunded) status of PBO	$	48	$	16	$	145	$	109	$	21	$	11

Amounts recognized in the consolidated balance sheet

Amounts recognized in the consolidated balance sheet consist of:
Other assets	$	51	$	19	$	236	$	174	$	21	$	11
Employee compensation and benefits	—		(1)		—		—		—		—
Retirement and post-retirement benefits	(3)		(2)		(91)		(65)		—		—
Total net asset (liability)	$	48	$	16	$	145	$	109	$	21	$	11

Amounts recognized in accumulated other comprehensive income (loss)

Amounts Recognized in Accumulated Other Comprehensive Income (Loss):
Actuarial (gains) losses	$	31	$	66	$	37	$	43	$	(6)	$	4
Prior service costs (benefits)	—		—		—		—		(1)		(2)
Total	$	31	$	66	$	37	$	43	$	(7)	$	2

Schedule of Allocation of Plan Assets

The following tables present the fair value of U.S. Defined Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2024 and 2023.

			Fair Value Measurement at October 31, 2024 Using
	October 31, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (1)
	(in millions)
Cash and Cash Equivalents	$	2	$	—	$	—	$	—	$	2
Equity	211		54		—		—		157
Fixed Income	200		—		—		—		200
Other Investments	1		—		—		1		—
Total assets measured at fair value	$	414	$	54	$	—	$	1	$	359

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

			Fair Value Measurement at October 31, 2023 Using
	October 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (1)
	(in millions)
Cash and Cash Equivalents	$	2	$	—	$	—	$	—	$	2
Equity	182		44		—		—		138
Fixed Income	174		—		—		—		174
Other Investments	1		—		—		1		—
Total assets measured at fair value	$	359	$	44	$	—	$	1	$	314

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

The following tables present the fair value of U.S. Post-Retirement Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2024 and 2023.

			Fair Value Measurement at October 31, 2024 Using
	October 31, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (1)
	(in millions)
Cash and Cash Equivalents	$	1	$	—	$	—	$	—	$	1
Equity	42		11		—		—		31
Fixed Income	42		—		—		—		42
Other Investments	1		—		—		1		—
Total assets measured at fair value	$	86	$	11	$	—	$	1	$	74

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

			Fair Value Measurement at October 31, 2023 Using
	October 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (1)
	(in millions)
Cash and Cash Equivalents	$	—	$	—	$	—	$	—	$	—
Equity	39		10		—		—		29
Fixed Income	36		—		—		—		36
Other Investments	1		—		—		1		—
Total assets measured at fair value	$	76	$	10	$	—	$	1	$	65

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

The following tables present the fair value of non-U.S. Defined Benefit Plans assets classified under the appropriate level of the fair value hierarchy as of October 31, 2024 and 2023:

			Fair Value Measurement at October 31, 2024 Using
	October 31, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (1)
	(in millions)
Cash and Cash Equivalents	$	26	$	14	$	12	$	—	$	—
Equity	389		305		—		—		84
Fixed Income	352		60		159		—		133
Annuity Contract	150		—		—		150		—
Total assets measured at fair value	$	917	$	379	$	171	$	150	$	217

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

			Fair Value Measurement at October 31, 2023 Using
	October 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (1)
	(in millions)
Cash and Cash Equivalents	$	17	$	1	$	16	$	—	$	—
Equity	367		266		—		—		101
Fixed Income	321		113		113		—		95
Annuity Contract	86		—		—		86		—
Total assets measured at fair value	$	791	$	380	$	129	$	86	$	196

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

Defined benefit plans assets measured at fair value using significant unobservable inputs (level 3)

For U.S. Defined Benefit Plans assets measured at fair value using significant unobservable inputs (level 3), the following table summarizes the change in balances during 2024 and 2023:

	Years Ended October 31.
	2024		2023
Balance, beginning of year	$	1	$	2
Realized gains/(losses)	—		—
Unrealized gains/(losses)	—		—
Purchases, sales, issuances, and settlements	—		(1)
Transfers in (out)	—		—
Balance, end of year	$	1	$	1

For U.S. Post-Retirement Benefit Plans assets measured at fair value using significant unobservable inputs (level 3), the following table summarizes the change in balances during 2024 and 2023:

	Years Ended October 31,
	2024		2023
Balance, beginning of year	$	1	$	1
Realized gains/(losses)	—		—
Unrealized gains/(losses)	—		—
Purchases, sales, issuances, and settlements	—		—
Transfers in (out)	—		—
Balance, end of year	$	1	$	1

For non-U.S. Defined Benefit Plans assets measured at fair value using significant unobservable inputs (level 3), the following table summarizes the change in balances during 2024 and 2023:

	Years Ended October 31,
	2024		2023
Balance, beginning of year	$	86	$	92
Unrealized gains (losses)	4		(5)
Purchases, sales, issuances, and settlements	(7)		(6)
Transfers in (out)	60		—
Currency impact	7		5
Balance, end of year	$	150	$	86

Combined projected benefit obligation, accumulated benefit obligations and fair value of plan assets

The table below presents the combined projected benefit obligation ("PBO"), accumulated benefit obligation ("ABO") and fair value of plan assets, grouping plans using comparisons of the PBO and ABO relative to the plan assets as of October 31, 2024 or 2023.

	2024				2023
	Benefit Obligation				Benefit Obligation
			Fair Value of Plan Assets				Fair Value of Plan Assets
	PBO				PBO
	(in millions)
U.S. defined benefit plans where PBO exceeds the fair value of plan assets	$	3	$	—	$	3	$	—
U.S. defined benefit plans where fair value of plan assets exceeds PBO	363		414		340		359
Total	$	366	$	414	$	343	$	359
Non-U.S. defined benefit plans where PBO exceeds the fair value of plan assets	$	249	$	157	$	197	$	132
Non-U.S. defined benefit plans where fair value of plan assets exceeds PBO	523		760		485		659
Total	$	772	$	917	$	682	$	791
	ABO				ABO
U.S. defined benefit plans where ABO exceeds the fair value of plan assets	$	3	$	—	$	3	$	—
U.S. defined benefit plans where the fair value of plan assets exceeds ABO	363		414		340		359
Total	$	366	$	414	$	343	$	359
Non-U.S. defined benefit plans where ABO exceeds the fair value of plan assets	$	241	$	157	$	192	$	132
Non-U.S. defined benefit plans where fair value of plan assets exceeds ABO	518		760		480		659
Total	$	759	$	917	$	672	$	791

Schedule of expected benefit payments

The following table presents expected future benefit payments for the next 10 years:

	U.S. Defined Benefit Plans		Non-U.S. Defined Benefit Plans		U.S. Post-Retirement Benefit Plans
	(in millions)
2025	$	30	$	37	$	7
2026	$	29	$	38	$	7
2027	$	29	$	39	$	8
2028	$	31	$	40	$	8
2029	$	27	$	40	$	7
2030 - 2034	$	126	$	208	$	29

Assumptions used to calculate the net periodic cost and benefit obligation

Assumptions used to calculate the net periodic cost (benefit) in each year were as follows:

	For years ended October 31,
	2024	2023	2022
U.S. defined benefit plans:
Discount rate	6.50%	6.00%	2.75%
Expected long-term return on assets	6.00%	5.00%	5.00%
Non-U.S. defined benefit plans:
Discount rate	1.78-5.63%	1.50-4.77%	0.29-1.76%
Average increase in compensation levels	2.00-3.25%	2.00-3.25%	2.00-3.50%
Expected long-term return on assets	4.00-5.00%	3.25-5.50%	2.75-5.50%
Interest crediting rate for cash balance plans	0.50-1.80%	0.50-2.10%	0.30-0.50%
U.S. post-retirement benefits plans:
Discount rate	6.60%	6.00%	2.75%
Expected long-term return on assets	6.00%	5.00%	5.00%
Current medical cost trend rate	6.50%	7.00%	6.00%
Ultimate medical cost trend rate	4.75%	4.75%	4.50%
Medical cost trend rate decreases to ultimate rate in year	2029	2029	2027

Assumptions used to calculate the benefit obligation were as follows:

	As of the Years Ending October 31,
	2024	2023
U.S. defined benefit plans:
Discount rate	5.50%	6.50%
Non-U.S. defined benefit plans:
Discount rate	0.95-5.31%	1.78-5.63%
Average increase in compensation levels	2.00-3.25%	2.00-3.25%
Interest crediting rate for cash balance plans	0.75-1.80%	0.50-1.80%
U.S. post-retirement benefits plans:
Discount rate	5.50%	6.60%
Current medical cost trend rate	6.00%	6.50%
Ultimate medical cost trend rate	4.75%	4.75%
Medical cost trend rate decreases to ultimate rate in year	2029	2029