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Revolving Credit Facility
 12 Months Ended
Nov. 01, 2025
Line of Credit Facility [Abstract]  
Revolving Credit Facility Revolving Credit Facility
On April 11, 2025, the Company entered into a Fourth Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent and the other banks identified therein as lenders (the Revolving Credit Agreement). The Revolving Credit Agreement provides for a five-year, unsecured, revolving credit facility in an aggregate principal amount not to exceed $3.0 billion (subject to certain terms and conditions).
Revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement) at the Company’s option. Each Term SOFR Loan will bear interest at a rate per annum equal to the applicable adjusted term SOFR plus a margin based on the Company’s Debt Ratings (as defined in the Revolving Credit Agreement) from time to time of between 0.46% and 0.90%. As of November 1, 2025, the Company had no outstanding borrowings under this revolving credit facility but may borrow in the future and use the proceeds for repayment of existing indebtedness, stock repurchases, acquisitions, capital expenditures, working capital and other lawful corporate purposes.
In addition, the Company has agreed to pay a facility fee based on the Company’s Debt Ratings from time to time of between 0.040% and 0.100% multiplied by the actual daily amount of the Commitments (as defined in the Revolving Credit Agreement) in effect. The Revolving Credit Agreement includes a multicurrency borrowing feature for certain specified foreign
currencies. The Company will guarantee the obligations of each subsidiary that is named a Designated Borrower under the Revolving Credit Agreement.
The Revolving Credit Agreement contains customary representations and warranties, and affirmative and negative covenants and events of default applicable to the Company and its subsidiaries. As of November 1, 2025, the Company was in compliance with these covenants.