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Fair Value
 6 Months Ended
May 02, 2026
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Assets and Liabilities Recorded at Fair Value on a Recurring Basis
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 May 2, 2026 and November 1, 2025. 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 May 2, 2026 and November 1, 2025, the Company held $1.3 billion and $1.4 billion, respectively, of cash that is excluded from the tables below.
 May 2, 2026
 
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$702,844 $— $702,844 
Corporate obligations (1)— 397,786 397,786 
Short-term investments:
Available-for-sale:
Corporate obligations (1)
— 507,277 507,277 
Bank obligations (1)— 495,115 495,115 
Other assets:
Forward foreign currency exchange contracts (2)— 6,500 6,500 
Deferred compensation plan investments117,894 — 117,894 
Total assets measured at fair value$820,738 $1,406,678 $2,227,416 
Liabilities
Forward foreign currency exchange contracts (2)$— $10,020 $10,020 
Interest rate derivatives (3)— 23,882 23,882 
Total liabilities measured at fair value$— $33,902 $33,902 
(1)The amortized cost of the Company’s investments classified as available-for-sale as of May 2, 2026 was $1.4 billion.
(2)The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 8, Derivatives, in these Notes to Condensed 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 8, Derivatives, in these Notes to Condensed Consolidated Financial Statements.
 November 1, 2025
 
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$740,730 $— $740,730 
Corporate obligations (1)— 397,707 397,707 
Short-term investments (2):
Available-for-sale:
Corporate obligations (1)— 656,839 656,839 
Bank obligations (1)— 496,076 496,076 
Other assets:
Forward foreign currency exchange contracts (3)— 6,708 6,708 
Deferred compensation plan investments105,188 — 105,188 
Total assets measured at fair value$845,918 $1,557,330 $2,403,248 
Liabilities
Forward foreign currency exchange contracts (3)$— $7,975 $7,975 
Interest rate derivatives (4)— 12,550 12,550 
Total liabilities measured at fair value$— $20,525 $20,525 
(1)The amortized cost of the Company’s investments classified as available-for-sale as of November 1, 2025 was $1.6 billion.
(2)Available-for-sale securities are classified as current assets on the Condensed Consolidated Balance Sheets if the securities are available to be converted into cash to fund current operations.
(3)The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 8, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company’s master netting arrangements.
(4)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 8, Derivatives, in these Notes to Condensed Consolidated Financial Statements.
Assets and Liabilities Not Recorded at Fair Value on a Recurring Basis
San Jose, California leased property asset group — As a result of a sublease transaction involving a leased property
in San Jose, California, the Company estimated the fair value of the sublease assets using discounted cash flows from the estimated net sublease rental income discounted at a market rate and recorded an impairment charge which represented the excess carrying value of the asset group associated with the leased property over its estimated fair value. These assets are considered a Level 2 fair value measurement. See Note 5, Special Charges, Net, in these Notes to Condensed Consolidated Financial Statements for additional information.
Debt — The table below presents the estimated fair values 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 ($550.2 million and $446.6 million as of May 2, 2026 and November 1, 2025, 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.
May 2, 2026November 1, 2025
Principal Amount OutstandingFair Value Principal Amount Outstanding Fair Value
2026 Notes, due December 2026900,000 897,767 900,000 895,623 
2027 Notes, due June 2027440,212 437,241 440,212 436,916 
2028 Notes, due June 2028850,000 850,341 850,000 856,345 
2028 Notes, due October 2028750,000 707,652 750,000 704,186 
2030 Notes, due June 2030650,000 652,444 650,000 659,834 
2031 Notes, due October 20311,000,000 884,422 1,000,000 884,390 
2032 Notes, due October 2032300,000 298,028 300,000 301,546 
2034 Notes, due April 2034550,000 561,447 550,000 571,370 
2036 Notes, due December 2036144,278 137,425 144,278 138,756 
2041 Notes, due October 2041750,000 546,296 750,000 555,925 
2045 Notes, due December 2045332,587 321,506 332,587 327,992 
2051 Notes, due October 20511,000,000 641,436 1,000,000 662,609 
2054 Notes, due April 2054550,000 524,949 550,000 541,087 
Total senior unsecured notes
$8,217,077 $7,460,954 $8,217,077 $7,536,579