Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Apr. 26, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The gain (loss) on derivatives in cash flow hedging relationships recognized in AOCI for derivatives designated as hedging instruments for the indicated periods were as follows:

	Three Months Ended				Six Months Ended
	April 26, 2020		April 28, 2019		April 26, 2020		April 28, 2019
	(In millions)
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts	$	(3)	$	11	$	4	$	(5)
Interest rate contracts	(162)		—		(180)		—
Total	$	(165)	$	11	$	(176)	$	(5)

Effect of derivative instruments on the consolidated statement of operations

The effects of derivative instruments and hedging activities on the Consolidated Condensed Statements of Operations were as follows:

	Three Months Ended
	April 26, 2020						April 28, 2019
			Derivatives in Cash Flow Hedging Relationships						Derivatives in Cash Flow Hedging Relationships
	Total Amount Presented in the Condensed Consolidated Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Income		Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income		Total Amount Presented in the Condensed Consolidated Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Income		Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income
	(In millions)
Foreign Exchange Contracts:
Net Sales	$	3,957	$	2	$	1	$	3,539	$	—	$	—
Cost of products sold	$	2,208	(3)		(1)		$	2,009	(2)		4
Research, development and engineering	$	550	(1)		—		$	508	—		—
General and administrative	$	137	—		—		$	113	2		(2)
Interest Rate Contracts:
Interest expense	$	61	—		—		$	60	(2)		—
			$	(2)	$	—			$	(2)	$	2

	Six Months Ended
	April 26, 2020						April 28, 2019
			Derivatives in Cash Flow Hedging Relationships						Derivatives in Cash Flow Hedging Relationships
	Total Amount Presented in the Consolidated Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Income		Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income		Total Amount Presented in the Consolidated Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Income		Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income
	(In millions)
Foreign Exchange Contracts:
Net Sales	$	8,119	$	1	$	3	$	7,292	$	—	$	—
Cost of products sold	$	4,512	(1)		(1)		$	4,097	10		9
Research, development and engineering	$	1,102	—		—		$	1,024	—		—
Marketing and selling	$	265	—		—		$	264	—		—
General and administrative	$	266	—		—		$	223	(3)		(3)
Interest Rate Contracts:
Interest expense	$	120	(1)		—		$	120	(2)		—
			$	(1)	$	2			$	5	$	6

Derivatives not designated as hedging instruments in statement of operations

		Amount of Gain or (Loss)  Recognized in Income
		Three Months Ended				Six Months Ended
	Location of Gain or (Loss) Recognized in Income	April 26, 2020		April 28, 2019		April 26, 2020		April 28, 2019
		(In millions)
Derivatives Not Designated as Hedging Instruments
Foreign exchange contracts	General and administrative	$	—	$	6	$	—	$	(4)
Foreign exchange contracts	Interest and other income, net	(8)		—		(4)		—
Total return swaps - deferred compensation	Cost of products sold	(1)		—		(1)		—
Total return swaps - deferred compensation	Operating expenses	(10)		—		(10)		—
Total return swaps - deferred compensation	Interest and other income, net	(1)		—		(1)		—
Total		$	(20)	$	6	$	(16)	$	(4)