Fair Value (Tables)

9 Months Ended

Jul. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of fair value of financial assets and liabilities

The tables below, set forth by level, present the Company’s financial assets and liabilities, excluding accrued interest components that were accounted for at fair value on a recurring basis as of July 29, 2023 and October 29, 2022. The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of July 29, 2023 and October 29, 2022, the Company held $691.2 million and $1,016.0 million, respectively, of cash that is

excluded from the tables below.

	July 29, 2023
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	457,997	$	—	$	457,997
Other assets:
Deferred compensation plan investments	80,844		—		80,844
Forward foreign currency exchange contracts	—		8,910		8,910
Total assets measured at fair value	$	538,841	$	8,910	$	547,751
Liabilities
Interest rate derivatives (1)	$	—	$	45,620	$	45,620
Total liabilities measured at fair value	$	—	$	45,620	$	45,620

(1)The carrying value of the related debt was adjusted by an equal and offsetting amount. The fair value of interest rate derivatives is estimated using a discounted cash flow analysis based on the contractual terms of the derivatives. See Note 10, Derivatives, in these Notes to Condensed Consolidated Financial Statements.

	October 29, 2022
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	454,545	$	—	$	454,545
Other assets:
Deferred compensation plan investments	63,211		—		63,211
Total assets measured at fair value	$	517,756	$	—	$	517,756
Liabilities
Forward foreign currency exchange contracts	$	—	$	16,984	$	16,984
Total liabilities measured at fair value	$	—	$	16,984	$	16,984

Schedule of debt

The table below presents the estimated fair values of certain financial instruments not recorded at fair value on a recurring basis. The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy.

	July 29, 2023				October 29, 2022
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value
2024 Notes, due October 2024	$	500,000	$	499,598	$	500,000	$	491,982
2025 Notes, due April 2025	400,000		385,529		400,000		383,378
2026 Notes, due December 2026	900,000		864,607		900,000		851,479
Maxim 2027 Notes, due June 2027	—		—		59,788		54,771
2027 Notes, due June 2027	440,212		416,545		440,212		410,091
2028 Notes, due October 2028	750,000		641,711		750,000		621,093
2031 Notes, due October 2031	1,000,000		819,159		1,000,000		786,772
2032 Notes, due October 2032	300,000		284,756		300,000		278,359
2036 Notes, due December 2036	144,278		128,486		144,278		126,274
2041 Notes, due October 2041	750,000		541,855		750,000		513,709
2045 Notes, due December 2045	332,587		324,731		332,587		313,931
2051 Notes, due October 2051	1,000,000		689,039		1,000,000		640,766
Total debt	$	6,517,077	$	5,596,016	$	6,576,865	$	5,472,605