Fair Value (Tables)

6 Months Ended

Apr. 29, 2017

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

As of April 29, 2017 and October 29, 2016, the Company held $1,921.8 million and $252.5 million, respectively, of cash and held-to-maturity investments that were excluded from the tables below.

	April 29, 2017
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total
Assets
Cash equivalents:
Available-for-sale:
Institutional money market funds	$	2,697,263	$	—	$	—	$	2,697,263
Corporate obligations (1)	—		1,238,710		—		1,238,710
Short-term investments:
Available-for-sale:
Securities with one year or less to maturity:
Corporate obligations (1)	—		253,359		—		253,359
Investments in municipal bonds, obligations of U.S. government-sponsored enterprises and commercial paper	—		64,071		—		64,071
Securities with greater than one year to maturity:
Investments in municipal bonds, obligations of U.S. government-sponsored enterprises and commercial paper	—		13,199		—		13,199
Other assets:
Deferred compensation investments	30,612		—		—		30,612
Forward foreign currency exchange contracts (2)	—		—		—		—
Total assets measured at fair value	$	2,727,875	$	1,569,339	$	—	$	4,297,214
Liabilities
Contingent consideration	—		—		9,722		9,722
Forward foreign currency exchange contracts (2)	—		895		—		895
Total liabilities measured at fair value	$	—	$	895	$	9,722	$	10,617

(1) The amortized cost of the Company’s investments classified as available-for-sale as of April 29, 2017 was $1.3 billion.

(2) The Company has a master netting arrangement by counterparty with respect to derivative contracts. See Note 9, Derivatives, of these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements.

	October 29, 2016
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total
Assets
Cash equivalents:
Available-for-sale:
Institutional money market funds	$	277,595	$	—	$	—	$	277,595
Corporate obligations (1)	—		415,660		—		415,660
Short-term investments:
Available-for-sale:
Securities with one year or less to maturity:
Corporate obligations (1)	—		2,518,148		—		2,518,148
Floating rate notes, issued at par	—		29,989		—		29,989
Floating rate notes (1)	—		561,874		—		561,874
Other assets:
Deferred compensation investments	26,916		—		—		26,916
Total assets measured at fair value	$	304,511	$	3,525,671	$	—	$	3,830,182
Liabilities
Contingent consideration	—		—		7,555		7,555
Forward foreign currency exchange contracts (2)	—		5,231		—		5,231
Total liabilities measured at fair value	$	—	$	5,231	$	7,555	$	12,786

(1) The amortized cost of the Company’s investments classified as available-for-sale as of October 29, 2016 was $3.5 billion.

(2) The Company has a master netting arrangement by counterparty with respect to derivative contracts. See Note 9, Derivatives, of these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements.

Fair Value Measurement of Contingent Consideration

The fair value measurement of the contingent consideration encompasses the following significant unobservable inputs:

Unobservable Inputs	Range
Estimated contingent consideration payments	$10,500
Discount rate	0% - 2%
Timing of cash flows	1 - 3 years
Probability of achievement	90% - 100%

Change in Fair Value of Contingent Consideration

The following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs (Level 3) from October 29, 2016 to April 29, 2017:

	Contingent Consideration
Balance as of October 29, 2016	$	7,555
Contingent consideration liability recorded (1)	2,000
Fair value adjustment (2)	167
Balance as of April 29, 2017	$	9,722

(1) Represents liability related to acquisitions that were not material to the Company on either an individual or aggregate basis.

(2) Recorded in research and development expense in the Company's condensed consolidated statements of income.