LONG-TERM EXTERNAL BORROWINGS

12 Months Ended

Nov. 02, 2025

LONG-TERM EXTERNAL BORROWINGS

LONG-TERM EXTERNAL BORROWINGS

NOTE 9. LONG-TERM EXTERNAL BORROWINGS

Long-term external borrowings at November 2, 2025 and October 27, 2024 consisted of the following:

	2025		2024
Medium-term notes	$	31,394.0	$	33,835.8
Finance lease obligations		.2		.1
Debt issuance costs and debt discounts		(92.3)		(110.5)
Total	$	31,301.9	$	33,725.4

Medium-term notes due through 2034 are offered by prospectus and issued at fixed and variable rates. All outstanding medium-term notes are senior unsecured borrowings and generally rank equally with each other. The medium-term notes in the table above include unamortized fair value adjustments related to derivatives.

The principal balances and weighted average interest rates on medium-term notes were as follows:

	2025		2024
Medium-term notes:
Principal	$	31,595.1	$	34,398.2
Weighted average interest rates*		4.9%		5.2%

^* Includes impact of derivatives

The principal amounts of medium-term notes maturing in each of the next five years are as follows: 2026 - $8,303.0, 2027 - $7,899.5, 2028 - $7,379.3, 2029 - $5,038.9, and 2030 - $3,146.7.