INVESTMENTS

12 Months Ended

Oct. 31, 2025

Schedule of Investments [Abstract]

Investment Holdings, Schedule of Investments

INVESTMENTS

The following table summarizes the company's equity investments as of October 31, 2025 and 2024 (net book value):

	October 31,
	2025		2024
	(in millions)
Long-Term
Equity investments - without readily determinable fair value	$	55	$	101
Other investments - with readily determinable fair value	37		31
Trading securities	41		43
Total long-term investments	$	133	$	175

Equity investments without readily determinable fair value (RDFV) consist of non-marketable equity securities issued by private companies and include VIEs. These investments are accounted for using the measurement alternative at cost adjusting for impairments and observable price changes (orderly transactions for the identical or a similar security from the same issuer). The adjustments are included in net income in the period in which they occur. Other investments with RDFV consist of shares we own in a special fund and are reported at fair value, with gains or losses resulting from changes in fair value included in net income.

Trading securities, which are comprised of mutual funds, bonds and other similar instruments, other investments and deferred compensation liability are reported at fair value, with gains or losses resulting from changes in fair value recognized currently in net income.

Our investments without RDFV and marketable equity securities with RDFV are subject to periodic impairment review. The impairment analysis requires significant judgment to identify events or circumstances that would likely have a significant adverse effect on the future value of the investment.

Gains and losses reflected in other income (expense), net for our equity investments with RDFV and equity investments without RDFV are summarized below:

	Years Ended October 31,
	2025		2024		2023
	( in millions)
Net gain (loss) recognized during the period on equity securities	$	(36)	$	6	$	(41)
Less: Net gain (loss) on equity securities sold during the period	5		—		(15)
Unrealized gain (loss) on equity securities held as of the end of the period	$	(41)	$	6	$	(26)

In 2025, unrealized losses on our equity securities without RDFV were $39 million. In 2024, unrealized gains on our equity securities without RDFV were $1 million. In 2023, unrealized losses on our equity securities without RDFV were $26 million.

In 2025, net unrealized gains on our trading securities were $6 million. In 2024, net unrealized gains were $10 million on our trading securities. In 2023, net unrealized gains were $2 million on our trading securities.

In 2025 and 2024, we recorded impairments of investments of $15 million and $11 million, respectively. In 2023, there were no impairments of investments.