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LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS
 9 Months Ended
Jul. 26, 2020
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS
Long-term Debt consists of: 
(in thousands) 
 
July 26,
2020
 
October 27,
2019
Senior Unsecured Notes, with Interest at 1.800%, Interest Due
Semi-annually through June 2030 Maturity Date
 
$
1,000,000

 
$
—

Senior Unsecured Notes, with Interest at 4.125%, Interest Due
Semi-annually through April 2021 Maturity Date
 
250,000

 
250,000

Unamortized Discount on Senior Notes
 
(2,698
)
 
—

Unamortized Debt Issuance Costs
 
(8,186
)
 
—

Finance Lease Liabilities(1)
 
63,091

 
—

Other Financing Arrangements
 
3,300

 
—

Total
 
1,305,508

 
250,000

Less: Current Maturities of Long-term Debt
 
258,688

 
—

Long-term Debt - Less Current Maturities
 
$
1,046,821

 
$
250,000

(1) See Note M - Leases for additional information

On June 11, 2020, the Company issued senior notes in an aggregate principal amount of $1.0 billion, due June 11, 2030. The notes bear interest at a fixed rate of 1.800% per annum, with interest paid semi-annually in arrears on June 11 and December 11 of each year, commencing December 11, 2020. The notes may be redeemed in whole or in part at anytime at the applicable redemption price set forth in the prospectus supplement. If a change of control triggering event occurs, the Company must offer to purchase the notes at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. The net proceeds from the issuance of the notes will be used for general corporate purposes.

The Company has a $400.0 million unsecured revolving line of credit, which matures in June 2021. The unsecured revolving line of credit bears interest at a variable rate based on LIBOR and a fixed fee is paid for the availability of this credit line. As of July 26, 2020, and October 27, 2019, the Company had no outstanding draws from this line of credit.
 
The Company is required by certain covenants in its debt agreements to maintain specified levels of financial ratios and financial position. As of July 26, 2020, the Company was in compliance with all of these covenants.