Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Jan. 26, 2020

Cash and Cash Equivalents [Abstract]

Summary of cash, cash equivalents and investments

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

January 26, 2020	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,370	$	—	$	—	$	1,370
Cash equivalents:
Money market funds	1,644		—		—		1,644
U.S. Treasury and agency securities	2		—		—		2
Municipal securities	1		—		—		1
Commercial paper, corporate bonds and medium-term notes	407		—		—		407
Total Cash equivalents	2,054		—		—		2,054
Total Cash and Cash equivalents	$	3,424	$	—	$	—	$	3,424
Short-term and long-term investments:
U.S. Treasury and agency securities	$	330	$	2	$	—	$	332
Non-U.S. government securities*	4		—		—		4
Municipal securities	397		5		—		402
Commercial paper, corporate bonds and medium-term notes	698		5		—		703
Asset-backed and mortgage-backed securities	648		4		—		652
Total fixed income securities	2,077		16		—		2,093
Publicly traded equity securities	8		39		3		44
Equity investments in privately-held companies	106		10		4		112
Total equity investments	114		49		7		156
Total short-term and long-term investments	$	2,191	$	65	$	7	$	2,249
Total Cash, Cash equivalents and Investments	$	5,615	$	65	$	7	$	5,673

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* Includes agency debt securities guaranteed by Canada.

October 27, 2019	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,071	$	—	$	—	$	1,071
Cash equivalents:
Money market funds	1,677		—		—		1,677
U.S. Treasury and agency securities	4		—		—		4
Commercial paper, corporate bonds and medium-term notes	377		—		—		377
Total Cash equivalents	2,058		—		—		2,058
Total Cash and Cash equivalents	$	3,129	$	—	$	—	$	3,129
Short-term and long-term investments:
U.S. Treasury and agency securities	$	336	$	1	$	—	$	337
Non-U.S. government securities*	10		—		—		10
Municipal securities	402		4		—		406
Commercial paper, corporate bonds and medium-term notes	642		5		—		647
Asset-backed and mortgage-backed securities	631		4		—		635
Total fixed income securities	2,021		14		—		2,035
Publicly traded equity securities	8		40		3		45
Equity investments in privately-held companies	105		10		3		112
Total equity investments	113		50		6		157
Total short-term and long-term investments	$	2,134	$	64	$	6	$	2,192
Total Cash, Cash equivalents and Investments	$	5,263	$	64	$	6	$	5,321

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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 January 26, 2020:

	Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	477	$	478
Due after one through five years	953		964
No single maturity date**	761		807
Total	$	2,191	$	2,249

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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 months ended January 26, 2020 and January 27, 2019 were as follows:

	Three Months Ended
	January 26, 2020		January 27, 2019
	(In millions)
Publicly traded equity securities
Unrealized gain	$	2	$	6
Unrealized loss	(3)		(2)
Gain on sales	—		1
Equity investments in privately-held companies
Unrealized gain	—		7
Unrealized loss	(1)		(1)
Gain on sales	—		1
Loss on sales or impairment	(2)		—
Total gain on equity investments, net	$	(4)	$	12