INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2025

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income before Taxes

The domestic and foreign components of income before taxes are:

	Years Ended October 31,
	2025		2024		2023
	(in millions)
U.S. operations	$	292	$	391	$	614
Non-U.S. operations	1,143		1,130		725
Total income before taxes	$	1,435	$	1,521	$	1,339

Provision for income taxes

The provision for income taxes is comprised of:

	Years Ended October 31,
	2025		2024		2023
	(in millions)
U.S. federal taxes:
Current	$	103	$	182	$	117
Deferred	(105)		(104)		(84)
Non-U.S. taxes:
Current	148		87		26
Deferred	(16)		60		38
State taxes, net of federal benefit:
Current	11		27		12
Deferred	(9)		(20)		(10)
Total provision for income taxes	$	132	$	232	$	99

Tax rate reconciliation, U.S. federal statutory rate to effective tax rate from operations

The differences between the U.S. federal statutory income tax rate and our effective tax rate are:

	Years Ended October 31,
	2025			2024			2023
	(in millions)
Profit before tax times statutory rate	$	301		$	319		$	281
State income taxes, net of federal benefit	3			7			2
Non-U.S. income taxed at different rates	(40)			(14)			20
Change in unrecognized tax benefits	(37)			(8)			(35)
Foreign-derived intangible income deduction	(29)			(47)			(41)
Realized loss on divestiture of business	—			—			(104)
Intra-entity transfer of assets	(57)			—			—
Other, net	(9)			(25)			(24)
Provision (benefit) for income taxes	$	132		$	232		$	99
Effective tax rate	9.2		%	15.3		%	7.4		%

Significant components of deferred tax assets and deferred tax liabilities

The significant components of deferred tax assets and deferred tax liabilities included on the consolidated balance sheet are:

	Years Ended October 31,
	2025		2024
	(in millions)
Deferred Tax Assets
Intangibles	$	151	$	20
Employee benefits, other than retirement	36		31
Net operating loss, capital loss, and credit carryforwards	217		184
Deferred revenue	39		98
Share-based compensation	26		25
Capitalized R&D	118		93
Lease obligations	42		39
Other	49		35
Deferred tax assets	$	678	$	525
Tax valuation allowance	(119)		(113)
Deferred tax assets, net of valuation allowance	$	559	$	412
Deferred Tax Liabilities
Property, plant and equipment	$	(76)	$	(62)
Pension benefits and retiree medical benefits	(53)		(41)
Right-of-use asset	(40)		(39)
Other	(10)		(4)
Deferred tax liabilities	$	(179)	$	(146)
Net deferred tax assets (liabilities)	$	380	$	266

The breakdown between long-term deferred tax assets and deferred tax liabilities was as follows:

	October 31,
	2025		2024
	(in millions)
Long-term deferred tax assets (included within other assets)	$	427	$	351
Long-term deferred tax liabilities (included within other long-term liabilities)	(47)		(85)
Total	$	380	$	266

Current and Long Term Tax Assets and Liabilities

The breakdown between current and long-term income tax assets and liabilities, excluding deferred tax assets and liabilities, was as follows:

	October 31,
	2025		2024
	(in millions)
Current income tax assets (included within other current assets)	$	108	$	147
Long-term income tax assets (included within other assets)	3		3
Current income tax liabilities (included within other accrued liabilities)	(143)		(152)
Long-term income tax liabilities (included within other long-term liabilities)	(28)		(115)
Total	$	(60)	$	(117)

Aggregate Changes in Gross Unrecognized Tax Benefits

The aggregate changes in the balances of our gross unrecognized tax benefits including all federal, state and foreign tax jurisdictions are as follows:

	2025		2024		2023
	(in millions)
Balance, beginning of year	$	97	$	98	$	123
Additions for tax positions related to the current year	—		6		5
Additions for tax positions from prior years	—		3		3
Reductions for tax positions from prior years	(23)		(1)		(27)
Statute of limitations expirations	(5)		(9)		(6)
Balance, end of year	$	69	$	97	$	98