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Stockholders' Equity, Comprehensive Income and Share-Based Compensation (Tables)
 12 Months Ended
Oct. 30, 2016
Equity [Abstract]  
Components of accumulated other comprehensive loss, after-tax basis
Changes in the components of AOCI, net of tax, were as follows:
 
 
Unrealized Gain (Loss) on Investments, Net
 
Unrealized Gain (Loss) on Derivative Instruments Qualifying as Cash Flow Hedges
 
Defined and Postretirement Benefit Plans
 
Cumulative Translation Adjustments
 
Total
 
(In millions)
Balance at October 27, 2013
$
25

 
$
2

 
$
(72
)
 
$
7

 
(38
)
Other comprehensive income (loss) before reclassifications
8

 
4

 
(36
)
 
(2
)
 
(26
)
Amounts reclassified out of accumulated other comprehensive income
(9
)
 
(6
)
 
3

 
—

 
(12
)
Other comprehensive income (loss), net of tax
(1
)
 
(2
)
 
(33
)
 
(2
)
 
(38
)
Balance at October 26, 2014
$
24

 
$
—

 
$
(105
)
 
$
5

 
$
(76
)
Other comprehensive income (loss) before reclassifications
(11
)
 
(9
)
 
(5
)
 
—

 
(25
)
Amounts reclassified out of AOCI
1

 
(6
)
 
5

 
9

 
9

Other comprehensive income (loss), net of tax
(10
)
 
(15
)
 
—

 
9

 
(16
)
Balance at October 25, 2015
$
14

 
$
(15
)
 
$
(105
)
 
$
14

 
$
(92
)
Other comprehensive income (loss) before reclassifications
14

 
(33
)
 
(42
)
 
—

 
(61
)
Amounts reclassified out of AOCI
2

 
30

 
6

 
—

 
38

Other comprehensive income (loss), net of tax
16

 
(3
)
 
(36
)
 
—

 
(23
)
Balance at October 30, 2016
$
30

 
$
(18
)
 
$
(141
)
 
$
14

 
$
(115
)
Summary of stock repurchases
The following table summarizes Applied’s stock repurchases for each fiscal year:
 
2016
 
2015
 
2014
 
 
 
 
 
 
 
(In millions, except per share amounts)
Shares of common stock repurchased
96

 
76

 
—

Cost of stock repurchased
$
1,892

 
$
1,325

 
$
—

Average price paid per share
$
19.82

 
$
17.33

 
$
—
Total share-based compensation and related tax benefits
Applied recognized share-based compensation expense related to stock options, ESPP shares, restricted stock, restricted stock units, performance shares and performance units, and related tax benefits for each fiscal year as follows:
 
 
2016
 
2015
 
2014
 
 
 
 
 
 
 
(In millions)
Share-based compensation
$
201

 
$
187

 
$
177

Tax benefit recognized
$
63

 
$
52

 
$
50
Effect of share-based compensation on the results of operations
The effect of share-based compensation on the results of operations for each fiscal year was as follows:
 
 
2016
 
2015
 
2014
 
 
 
 
 
 
 
(In millions)
Cost of products sold
$
62

 
$
57

 
$
53

Research, development, and engineering
76

 
69

 
66

Marketing and selling
26

 
26

 
23

General and administrative
37

 
35

 
35

Total share-based compensation
$
201

 
$
187

 
$
177
Restricted stock units and restricted stock activity
A summary of the changes in restricted stock units, restricted stock, performance shares and performance units outstanding under Applied’s equity compensation plans is presented below:
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
Weighted
Average
Remaining
Contractual Term
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
 
 
(In millions, except per share amounts)
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 27, 2013
38

 
$
11.11

 
2.4 years
 
$
662

Granted
11

 
$
16.58

 
 
 
 
Vested
(13
)
 
$
11.13

 
 
 
 
Canceled
(3
)
 
$
11.72

 
 
 
 
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 26, 2014
33

 
$
12.59

 
2.3 years
 
$
698

Granted
10

 
$
22.60

 
 
 
 
Vested
(15
)
 
$
12.04

 
 
 
 
Canceled
(1
)
 
$
14.98

 
 
 
 
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 25, 2015
27

 
$
16.41

 
2.2 years
 
$
440

Granted
11

 
$
18.54

 
 
 
 
Vested
(11
)
 
$
14.25

 
 
 
 
Canceled
(2
)
 
$
17.57

 
 
 
 
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 30, 2016
25

 
$
18.28

 
2.3 years
 
$
718

Non-vested restricted stock units, restricted stock, performance shares and performance units expected to vest
23

 
$
18.06

 
2.1 years
 
$
652
Significant valuation assumptions in relation to ESPP
Underlying assumptions used in the model are outlined in the following table:
 
 
2016
 
2015
 
2014
ESPP:
 
 
 
 
 
Dividend yield
1.76
%
 
2.20
%
 
1.96
%
Expected volatility
29.3
%
 
31.8
%
 
26.3
%
Risk-free interest rate
0.47
%
 
0.19
%
 
0.06
%
Expected life (in years)
0.5

 
0.5

 
0.5

Weighted average estimated fair value
$5.48
 
$4.55
 
$4.56