Cash, Cash Equivalents and Investments (Tables)

6 Months Ended

Apr. 28, 2019

Cash and Cash Equivalents [Abstract]

Summary of cash, cash equivalents and investments

The following tables summarize Applied’s cash, cash equivalents and investments:

April 28, 2019	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,185	$	—	$	—	$	1,185
Cash equivalents:
Money market funds	1,671		—		—		1,671
Municipal securities	1		—		—		1
Commercial paper, corporate bonds and medium-term notes	253		—		—		253
Asset-backed and mortgage-backed securities	6		—		—		6
Total Cash equivalents	1,931		—		—		1,931
Total Cash and Cash equivalents	$	3,116	$	—	$	—	$	3,116
Short-term and long-term investments:
U.S. Treasury and agency securities	$	367	$	1	$	—	$	368
Non-U.S. government securities*	9		—		—		9
Municipal securities	410		2		1		411
Commercial paper, corporate bonds and medium-term notes	588		3		1		590
Asset-backed and mortgage-backed securities	601		1		1		601
Total fixed income securities	1,975		7		3		1,979
Publicly traded equity securities	10		27		3		34
Equity investments in privately-held companies	97		9		3		103
Total equity investments	107		36		6		137
Total short-term and long-term investments	$	2,082	$	43	$	9	$	2,116
Total Cash, Cash equivalents and Investments	$	5,198	$	43	$	9	$	5,232

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* Includes agency debt securities guaranteed by Canada.

October 28, 2018	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,489	$	—	$	—	$	1,489
Cash equivalents:
Money market funds	1,599		—		—		1,599
Commercial paper, corporate bonds and medium-term notes	352		—		—		352
Total Cash equivalents	1,951		—		—		1,951
Total Cash and Cash equivalents	$	3,440	$	—	$	—	$	3,440
Short-term and long-term investments:
U.S. Treasury and agency securities	$	335	$	—	$	2	$	333
Non-U.S. government securities*	10		—		—		10
Municipal securities	399		—		4		395
Commercial paper, corporate bonds and medium-term notes	705		—		3		702
Asset-backed and mortgage-backed securities	595		—		4		591
Total fixed income securities	2,044		—		13		2,031
Publicly traded equity securities	17		25		4		38
Equity investments in privately-held companies	89		—		—		89
Total equity investments	106		25		4		127
Total short-term and long-term investments	$	2,150	$	25	$	17	$	2,158
Total Cash, Cash equivalents and Investments	$	5,590	$	25	$	17	$	5,598

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* Includes agency debt securities guaranteed by Canada.

Contractual maturities of investments

The following table summarizes the contractual maturities of Applied’s investments as of April 28, 2019:

	Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	414	$	414
Due after one through five years	960		964
No single maturity date**	708		738
Total	$	2,082	$	2,116

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** Securities with no single maturity date include publicly-traded and privately-held equity securities and asset-backed and mortgage-backed securities.

Equity Securities, FV-NI

The components of gain (losses) on equity investments for the three and six months ended April 28, 2019 were as follows:

	April 28, 2019
	Three Months Ended			Six Months Ended
	(In millions)
Publicly traded equity securities
Unrealized gain	$	7		$	13
Unrealized loss	(1		)	$	(3	)
Gain on sales	1			$	2
Equity investments in privately-held companies
Unrealized gain	2			9
Unrealized loss	(2		)	(3		)
Gain on sales	3			4
Total gain on equity investments, net	$	10		$	22