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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Nov. 02, 2024
Accounting Policies [Abstract]  
Schedule of cash and cash equivalents and short term investments
The components of the Company’s cash and cash equivalents and short-term investments as of November 2, 2024 and October 28, 2023 were as follows:
20242023
Cash and Cash Equivalents:
  
Cash and cash equivalents
$1,398,782 $642,081 
Available-for-sale securities592,560 315,980 
Total cash and cash equivalents$1,991,342 $958,061 
Short-term investments:  
Available-for-sale securities
371,822 — 
Total short-term investments$371,822 $— 
Schedule of supplemental cash flow statement information
202420232022
Cash paid during the fiscal year for:   
Income taxes$414,838 $987,225 $821,683 
Interest$268,192 $206,415 $172,957 
Schedule of inventories
Inventories at November 2, 2024 and October 28, 2023 were as follows:
20242023
Raw materials$93,608 $128,142 
Work in process1,047,022 1,125,819 
Finished goods307,057 388,253 
Total inventories$1,447,687 $1,642,214 
Schedule of property, plant and equipment
The following table presents details of the Company’s property, plant and equipment (PP&E), net of accumulated depreciation:
2024
2023 (1)
Land and buildings$2,061,751 $1,737,842 
Machinery and equipment4,456,926 4,355,651 
Office equipment477,884 373,126 
Leasehold improvements191,427 177,313 
7,187,988 6,643,932 
Less accumulated depreciation and amortization3,772,438 3,424,775 
Net property, plant and equipment$3,415,550 $3,219,157 
_________________________________
(1) Certain amounts previously reported between land and buildings and machinery and equipment have been reclassified to conform to the current year presentation.
Depreciation is based on the following ranges of estimated useful lives:
Buildings
Up to 30 years
Machinery & equipment
4-10 years
Office equipment
2-10 years
Leasehold improvements
5-20 years
Schedule of reclassification from properly, plant and equipment As of November 2, 2024, prepaid expenses and other current assets includes the following assets held for sale:
Land and buildings$62,106 
Less accumulated depreciation and amortization(20,604)
Net property, plant and equipment reclassified to Prepaid expenses and other current assets$41,502 
Schedule of changes in goodwill
Schedule of intangible assets
As of November 2, 2024 and October 28, 2023, the Company’s intangible assets consisted of the following:
 November 2, 2024October 28, 2023
 Gross Carrying
Amount 		Accumulated
Amortization		Gross Carrying
Amount		Accumulated
Amortization
Customer relationships$10,335,903 $4,561,856 $10,335,903 $3,811,865 
Technology-based7,597,471 3,786,054 7,589,027 2,804,876 
Trade-name72,200 72,200 72,200 68,432 
Backlog (1)— — 361,200 361,200 
Assembled workforce1,800 1,800 1,800 1,800 
Total$18,007,374 $8,421,910 $18,360,130 $7,048,173 
_________________________________
(1) Backlog-related intangible asset was fully utilized during fiscal 2024.
Schedule of expected annual amortization expense
The Company expects annual amortization expense for intangible assets as follows:
Fiscal YearAmortization Expense
2025$1,584,043 
2026$1,534,232 
2027$1,529,740 
2028$1,463,291 
2029$1,126,744 
Schedule of fair value of hedging instruments The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s Consolidated Balance Sheets as of November 2, 2024 and October 28, 2023 were as follows:
Fair Value At
Balance Sheet LocationNovember 2, 2024October 28, 2023
Forward foreign currency exchange contractsPrepaid expenses and other current assets$780 $471 
Forward foreign currency exchange contractsAccrued liabilities$4,235 $9,897 
As of November 2, 2024 and October 28, 2023, the total notional amounts of undesignated hedges related to forward foreign currency exchange contracts were $176.8 million and $334.7 million, respectively.
Fair Value At
Balance Sheet LocationNovember 2, 2024October 28, 2023
Undesignated hedges related to forward foreign currency exchange contracts
Prepaid expenses and other current assets$6,538 $1,469 
Undesignated hedges related to forward foreign currency exchange contracts
Accrued liabilities$12,044 $3,618 
Schedule of interest rate derivatives The gain or loss on the hedged item attributable to the hedged benchmark interest rate risk and the offsetting gain or loss on the related interest rate swaps were recorded as follows:
November 2, 2024October 28, 2023
Balance Sheet LocationLoss on SwapsGain on NoteLoss on SwapsGain on Note
Accrued liabilities$36,855 $— $81,602 $— 
Long-term debt
$— $36,855 $— $81,602 
Schedule of fair value of financial assets and liabilities
The tables below, set forth by level, presents the Company’s financial assets and liabilities, excluding accrued interest components, that were accounted for at fair value on a recurring basis as of November 2, 2024 and October 28, 2023. 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 November 2, 2024 and October 28, 2023, the Company held $1.4 billion and $642.1 million, respectively, of cash that was
excluded from the tables below.
 November 2, 2024
 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$592,560 $— $592,560 
Short-term investments:
Available-for-sale:
Securities with one year or less to maturity:
Corporate obligations (1)— 71,246 71,246 
Bank obligations (1)— 300,576 300,576 
Other assets:
Forward foreign currency exchange contracts (2)— 7,318 7,318 
Deferred compensation investments92,698 — 92,698 
Total assets measured at fair value$685,258 $379,140 $1,064,398 
Liabilities
Forward foreign currency exchange contracts (2)$— $16,279 $16,279 
Interest rate derivatives (3)— 36,855 36,855 
Total liabilities measured at fair value$— $53,134 $53,134 
(1) The amortized cost of the Company’s investments classified as available-for-sale as of November 2, 2024 was $382.9 million.
(2) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements for more information related to the Company’s master netting arrangements.
(3) 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 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements.
 October 28, 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$315,980 $— $315,980 
Other assets:
Forward foreign currency exchange contracts (1)1,940 1,940 
Deferred compensation investments78,246 — 78,246 
Total assets measured at fair value$394,226 $1,940 $396,166 
Liabilities
Forward foreign currency exchange contracts (1)$— $13,515 $13,515 
Interest rate derivatives (2)
— 81,602 81,602 
Total liabilities measured at fair value$— $95,117 $95,117 
(1) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements for more information related to the Company’s master netting arrangements.
(2) 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 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements.
Schedule of debt The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis. Given the short tenure of the Company’s commercial paper notes, the carrying value of the outstanding commercial paper notes approximates the fair values, and therefore, are excluded from the table below ($547.7 million and $547.2 million as of November 2, 2024 and October 28, 2023, respectively). The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy. See Note 14, Debt, of the Notes to Consolidated Financial Statements for further discussion related to outstanding debt.
November 2, 2024October 28, 2023
Principal Amount OutstandingFair Value Principal Amount Outstanding Fair Value
2024 Notes, due October 2024$— $— $500,000 $499,473 
2025 Notes, due April 2025400,000 397,027 400,000 385,231 
2026 Notes, due December 2026900,000 882,795 900,000 851,023 
2027 Notes, due June 2027440,212 421,077 440,212 408,595 
2028 Notes, due October 2028750,000 673,316 750,000 628,999 
2031 Notes, due October 20311,000,000 843,766 1,000,000 773,404 
2032 Notes, due October 2032300,000 287,172 300,000 269,828 
2034 Notes, due April 2034550,000 553,375 — — 
2036 Notes, due December 2036144,278 136,718 144,278 118,554 
2041 Notes, due October 2041750,000 534,435 750,000 479,078 
2045 Notes, due December 2045332,587 322,942 332,587 292,248 
2051 Notes, due October 20511,000,000 655,668 1,000,000 590,666 
2054 Notes, due April 2054550,000 541,912 — — 
Total Debt$7,117,077 $6,250,203 $6,517,077 $5,297,099 
Schedules of concentration of risk, by risk factor
Revenue attributable to significant distributors whose revenue as a percentage of total revenue was 10% or greater of total revenue is presented in the following table:
Year Ended
November 2, 2024October 28, 2023October 29, 2022
Distributor 1
24%25%22%
Distributor 2
12%10%10%
Distributor 3
12%
*
*
___________________________________________________________
*Revenue for this distributor was not greater than 10% of total revenue for these periods.
Schedule of components of accumulated other comprehensive (loss) income The changes in components of AOCI at November 2, 2024 and October 28, 2023 consisted of the following:
Foreign currency translation adjustmentUnrealized holding gains/losses on derivativesPension plansTotal
October 28, 2023$(72,544)$(102,043)$(13,715)$(188,302)
Other comprehensive income before reclassifications1,033 10,481 (14,662)(3,148)
Amounts reclassified out of other comprehensive loss— 10,168 1,032 11,200 
Tax— (3,808)(1,198)(5,006)
Other comprehensive income1,033 16,841 (14,828)3,046 
November 2, 2024$(71,511)$(85,202)$(28,543)$(185,256)
Schedule of reclassification out of accumulated other comprehensive income
The amounts reclassified out of AOCI into the Consolidated Statements of Income, with presentation location during each period were as follows:
Comprehensive Income Component20242023Location
Changes in unrealized holding gains/losses on derivatives
Currency forwards $(775)$213 Cost of sales
(219)538 Research and development
(3,762)(2,738)Selling, marketing, general and administrative
Interest rate derivatives14,924 14,920 Interest expense
10,168 12,933 Total before tax
(2,140)(3,311)Tax
$8,028 $9,622 Net of tax
Amortization of pension components included in the computation of net periodic benefit cost
Actuarial losses (1)$1,032 $1,513 Net of tax
Total amounts reclassified out of AOCI, net of tax$9,060 $11,135 
_______________________________________
(1)The amortization of pension components is included in the computation of net periodic benefit cost. See Note 11, Retirement Plans, of the Notes to Consolidated Financial Statements for further information.
Schedule of computation of basic and diluted earnings per share
The following table sets forth the computation of basic and diluted earnings per share:
20242023 2022
Net income$1,635,273 $3,314,579 $2,748,561 
Basic shares:   
Weighted-average shares outstanding496,166 502,232 519,226 
Earnings per common share basic$3.30 $6.60 $5.29 
Diluted shares:   
Weighted-average shares outstanding496,166 502,232 519,226 
Assumed exercise of common stock equivalents2,531 3,727 3,952 
Weighted-average common and common equivalent shares498,697 505,959 523,178 
Earnings per common share diluted$3.28 $6.55 $5.25 
Anti-dilutive shares related to:   
Outstanding stock options71 253 608