Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Jul. 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:

July 28, 2019	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	918	$	—	$	—	$	918
Cash equivalents:
Money market funds	2,010		—		—		2,010
Commercial paper, corporate bonds and medium-term notes	86		—		—		86
Total Cash equivalents	2,096		—		—		2,096
Total Cash and Cash equivalents	$	3,014	$	—	$	—	$	3,014
Short-term and long-term investments:
U.S. Treasury and agency securities	$	343	$	2	$	—	$	345
Non-U.S. government securities*	9		—		—		9
Municipal securities	390		4		—		394
Commercial paper, corporate bonds and medium-term notes	676		4		—		680
Asset-backed and mortgage-backed securities	614		3		1		616
Total fixed income securities	2,032		13		1		2,044
Publicly traded equity securities	8		37		3		42
Equity investments in privately-held companies	105		9		3		111
Total equity investments	113		46		6		153
Total short-term and long-term investments	$	2,145	$	59	$	7	$	2,197
Total Cash, Cash equivalents and Investments	$	5,159	$	59	$	7	$	5,211

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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 July 28, 2019:

	Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	467	$	468
Due after one through five years	951		959
No single maturity date**	727		770
Total	$	2,145	$	2,197

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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 (loss) on equity investments for the three and nine months ended July 28, 2019 were as follows:

	July 28, 2019
	Three Months Ended			Nine Months Ended
	(In millions)
Publicly traded equity securities
Unrealized gain	$	10		$	23
Unrealized loss	(1		)	(4		)
Gain on sales	—			2
Equity investments in privately-held companies
Unrealized gain	2			11
Unrealized loss	(3		)	(5		)
Gain on sales	—			4
Total gain on equity investments, net	$	8		$	31