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Cash, Cash Equivalents and Investments (Tables)
9 Months Ended
Jul. 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:
 
July 26, 2020CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
 (In millions)
Cash$1,010 $ $ $1,010 
Cash equivalents:
Money market funds3,241   3,241 
Municipal securities2   2 
Commercial paper, corporate bonds and medium-term notes97   97 
Total Cash equivalents3,340   3,340 
Total Cash and Cash equivalents$4,350 $ $ $4,350 
Short-term and long-term investments:
U.S. Treasury and agency securities$365 $5 $ $370 
Municipal securities373 8  381 
Commercial paper, corporate bonds and medium-term notes488 9 1 496 
Asset-backed and mortgage-backed securities520 10  530 
Total fixed income securities1,746 32 1 1,777 
Publicly traded equity securities11 36 3 44 
Equity investments in privately-held companies110 19 6 123 
Total equity investments121 55 9 167 
Total short-term and long-term investments$1,867 $87 $10 $1,944 
Total Cash, Cash equivalents and Investments$6,217 $87 $10 $6,294 
October 27, 2019CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
 (In millions)
Cash$1,071 $ $ $1,071 
Cash equivalents:
Money market funds1,677   1,677 
U.S. Treasury and agency securities4   4 
Commercial paper, corporate bonds and medium-term notes377   377 
Total Cash equivalents2,058   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 securities402 4  406 
Commercial paper, corporate bonds and medium-term notes642 5  647 
Asset-backed and mortgage-backed securities631 4  635 
Total fixed income securities2,021 14  2,035 
Publicly traded equity securities8 40 3 45 
Equity investments in privately-held companies105 10 3 112 
Total equity investments113 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 
 _________________________
* 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 26, 2020:
 
CostEstimated
Fair Value
 (In millions)
Due in one year or less$362 $365 
Due after one through five years864 883 
No single maturity date**641 696 
Total$1,867 $1,944 
 _________________________
** 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 26, 2020 and July 28, 2019 were as follows:
Three Months EndedNine Months Ended
July 26, 2020July 28, 2019July 26, 2020July 28, 2019
 (In millions)
Publicly traded equity securities
Unrealized gain $6 $10 $11 $23 
Unrealized loss (1)(15)(4)
Realized gain on sales1  1 2 
Equity investments in privately-held companies
Unrealized gain1 2 10 11 
Unrealized loss(2)(2)(5)(5)
Realized gain on sales or other7  8 5 
Realized loss on sales or impairment (1)(8)(1)
Total gain (loss) on equity investments, net$13 $8 $2 $31