MARKETABLE SECURITIES

12 Months Ended

Nov. 02, 2025

MARKETABLE SECURITIES

MARKETABLE SECURITIES

10. MARKETABLE SECURITIES

We have investments in debt securities classified as held-to-maturity or available-for-sale and equity securities, recorded in “Marketable securities” on the consolidated balance sheets. The purchases, maturities, and sale proceeds for all debt and equity marketable securities during 2025, 2024, and 2023 follow:

	​ ​2025		​ ​2024		​ ​2023
Purchases	$	703	$	1,055	$	491
Maturities and sale proceeds		486		832		186

Debt Securities

The amortized cost and fair value of available-for-sale debt securities at the end of 2025 and 2024 follow:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		​ ​Value
2025
Corporate debt securities	$	521	$	6	$	17	$	510
International debt securities		176		1		3		174
Mortgage-backed securities*		257		1		24		234
Municipal debt securities		115		1		3		113
U.S. government debt securities		330		3		20		313
Total	$	1,399	$	12	$	67	$	1,344
2024
Corporate debt securities	$	445	$	1	$	23	$	423
International debt securities		169				26		143
Mortgage-backed securities*		193				28		165
Municipal debt securities		78		1		5		74
U.S. government debt securities		377				28		349
Total	$	1,262	$	2	$	110	$	1,154

*    Primarily issued by U.S. government-sponsored enterprises.

The contractual maturities of available-for-sale debt securities at November 2, 2025, follow:

	Amortized		Fair
	Cost		​ ​Value
Due in one year or less	$	71	$	72
Due after one through five years		381		376
Due after five through 10 years		472		465
Due after 10 years		218		197
Mortgage-backed securities		257		234
Debt securities	$	1,399	$	1,344

Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Mortgage-backed securities contain prepayment provisions and are not categorized by contractual maturity.

Proceeds of available-for-sale debt securities sold or matured during 2025, 2024, and 2023 were $486, $619, and $37, respectively. Realized gains, realized losses, and unrealized losses that have been continuous for over twelve months on debt securities were not material in 2025, 2024, and 2023.

Unrealized losses were not recognized in income due to the ability and intent to hold to maturity and recover the unrealized losses. We evaluate investments quarterly for impairment and determine credit losses on available-for-sale debt securities using the specific identification method. There were no allowances for credit losses nor impairment write-downs in the periods presented. The unrealized losses on securities are due to changes in interest rates and market liquidity.

At November 2, 2025, we also had $60 marketable securities classified as held-to-maturity international corporate debt securities that mature in less than one year. We record held-to-

maturity marketable securities at amortized cost, which approximates fair value.

Equity Securities

At November 2, 2025, we also had a $7 investment in an international fixed income fund equity security.

Unrealized gain on equity securities during 2025 and 2024 follows:

	​ ​ ​2025	​ ​ ​2024
Net gain recognized on equity securities		$	88
Less: Net gain on equity securities sold			88
Unrealized gain on equity securities		$