Cash, Cash Equivalents and Investments (Tables)

12 Months Ended

Oct. 25, 2020

Cash and Cash Equivalents [Abstract]

Summary of cash, cash equivalents and investments

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

October 25, 2020	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,136	$	—	$	—	$	1,136
Cash equivalents:
Money market funds	4,209		—		—		4,209
Municipal securities	6		—		—		6
Total Cash equivalents	4,215		—		—		4,215
Total Cash and Cash equivalents	$	5,351	$	—	$	—	$	5,351
Short-term and long-term investments:
U.S. Treasury and agency securities	$	394	$	4	$	—	$	398
Municipal securities	359		6		—		365
Commercial paper, corporate bonds and medium-term notes	492		8		1		499
Asset-backed and mortgage-backed securities	470		9		—		479
Total fixed income securities	1,715		27		1		1,741
Publicly traded equity securities	11		36		2		45
Equity investments in privately-held companies	121		25		7		139
Total equity investments	132		61		9		184
Total short-term and long-term investments	$	1,847	$	88	$	10	$	1,925
Total Cash, Cash equivalents and Investments	$	7,198	$	88	$	10	$	7,276

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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 at October 25, 2020:

	Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	367	$	369
Due after one through five years	878		893
Due after five years	—		—
No single maturity date**	602		663
Total	$	1,847	$	1,925

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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.

Schedule of gross realized gains and losses on sales of investments

Gross realized gains and losses on sales of investments for each fiscal year were as follows:

	2020		2019		2018
	(In millions)
Gross realized gains	$	19	$	10	$	29
Gross realized losses	$	2	$	2	$	3

Components of gain (loss) on equity investment

The components of gain (loss) on equity investments for each fiscal year were as follows:

	2020		2019
	(In millions)
Publicly traded equity securities
Unrealized gain	$	14	$	28
Unrealized loss	(17)		(5)
Realized gain on sales	1		2
Equity investments in privately-held companies
Unrealized gain	18		13
Unrealized loss	(7)		(6)
Realized gain on sales	8		5
Realized loss on sales or impairment	(8)		(1)
Total gain (loss) on equity investments, net	$	9	$	36