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Employee Benefit Plans (Tables)
 12 Months Ended
Oct. 31, 2021
Retirement Benefits [Abstract]  
Changes in benefit obligations and plan assets including post-retirement benefits
A summary of the changes in benefit obligations and plan assets, which includes post-retirement benefits, for each fiscal year is presented below:
 
202120202019
 (In millions, except percentages)
Change in projected benefit obligation
Beginning projected benefit obligation$674 $617 $524 
Service cost15 13 11 
Interest cost8 8 10 
Plan participants’ contributions1 1 1 
Actuarial (gain) loss(1)6 84 
Settlements — — (1)
Foreign currency exchange rate changes3 33 (5)
Benefits paid(15)(10)(8)
Plan amendments and other adjustments— 6 1 
Ending projected benefit obligation$685 $674 $617 
Ending accumulated benefit obligation$626 $627 $578 
Range of assumptions to determine benefit obligations
Discount rate
0.6% - 6.6%
0.4% - 6.5%
0.5% - 3.1%
Rate of compensation increase
2.4% - 10.0%
2.3% - 10.0%
2.3% - 3.6%
Change in plan assets
Beginning fair value of plan assets$431 $409 $365 
Return on plan assets49 — 30 
Employer contributions22 12 27 
Plan participants’ contributions1 1 1 
Foreign currency exchange rate changes3 19 (5)
Settlements — — (1)
Benefits paid(15)(10)(8)
Ending fair value of plan assets$491 $431 $409 
Funded status$(194)$(243)$(208)
Amounts recognized in the consolidated balance sheets
Noncurrent asset$1 $— $5 
Current liability(2)(2)(1)
Noncurrent liability(193)(241)(212)
Total$(194)$(243)$(208)
Estimated amortization from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal period
Actuarial loss$11 $14 $12 
Prior service credit— — — 
Total$11 $14 $12 
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss$200 $242 $226 
Prior service credit1 — — 
Total$201 $242 $226 
Plans with projected benefit obligations in excess of plan assets
Projected benefit obligation$472 $674 $424 
Fair value of plan assets$277 $431 $211 
Plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation$413 $627 $385 
Fair value of plan assets$277 $431 $211 
 
20212020
Plan assets — allocation
Equity securities35 %38 %
Debt securities33 %43 %
Insurance contracts23 %9 %
Other investments9 %10 %
Summary of ending fair value of the plan assets The following table presents a summary of the ending fair value of the plan assets:
 October 31, 2021October 25, 2020
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
 (In millions)
Equity securities$137 $— $— $137 $103 $— $— $103 
Debt securities79 — — 79 72 — — 72 
Insurance contracts— — 110 110 — — 39 39 
Other investments— 17 — 17 — 16 — 16 
Cash2 — — 2 2 — — 2 
Total assets at fair value$218 $17 $110 345 $177 $16 $39 232 
Assets measured at net asset value146 199 
Total$491 $431 
Activity in Level 3 instruments The following table presents the activity in Level 3 instruments for each fiscal year:
20212020
 (In millions)
Balance, beginning of year$39 $36 
Purchases, sales, settlements, net72 1 
Currency impact(1)2 
Balance, end of year$110 $39 
Schedule of net benefit costs and weighted average assumptions used
A summary of the components of net periodic benefit costs and the weighted average assumptions used for net periodic benefit cost calculations for each fiscal year is presented below:
 
202120202019
 (In millions, except percentages)
Components of net periodic benefit cost
Service cost$15 $13 $11 
Interest cost8 8 10 
Expected return on plan assets(21)(22)(20)
Amortization of actuarial loss and prior service credit14 12 7 
Net periodic benefit cost$16 $11 $8 
Weighted average assumptions
Discount rate1.18 %1.23 %1.98 %
Expected long-term return on assets4.80 %5.10 %5.40 %
Rate of compensation increase2.74 %2.69 %2.74 %
Schedule of expected benefit payments
Future expected benefit payments for the pension plans and the postretirement plan over the next ten fiscal years are as follows:
 Benefit Payments
(In millions)
2022$11 
202313 
202415 
202514 
202615 
2027-203199 
Total$167