Balance Sheet Detail

12 Months Ended

Oct. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Detail

Balance Sheet Detail

 

	October 30, 2022		October 31, 2021
	(In millions)
Inventories
Customer service spares	$	1,409	$	1,251
Raw materials	1,807		1,136
Work-in-process	1,029		873
Finished goods	1,687		1,049
	$	5,932	$	4,309

 Included in finished goods inventory are $704 million at October 30, 2022 and $325 million at October 31, 2021 of systems at customer locations where the sales transaction did not meet Applied’s revenue recognition criteria as set forth in Note 1, of which $45 million at October 30, 2022 and $58 million at October 31, 2021 is related to newly-introduced systems. Finished goods inventory includes $422 million and $380 million of evaluation inventory at October 30, 2022 and October 31, 2021, respectively.

	October 30, 2022		October 31, 2021
	(In millions)
Other Current Assets
Prepaid income taxes and income taxes receivable	$	461	$	593
Prepaid expenses and other	883		793
	$	1,344	$	1,386

	Useful Life	October 30, 2022		October 31, 2021
	(In years)	(In millions)
Property, Plant and Equipment, Net
Land and improvements		$	387	$	334
Buildings and improvements	3-30	2,027		1,780
Demonstration and manufacturing equipment	3-5	2,083		1,820
Furniture, fixtures and other equipment	3-5	743		720
Construction in progress		389		326
Gross property, plant and equipment		5,629		4,980
Accumulated depreciation		(3,322)		(3,046)
		$	2,307	$	1,934

Depreciation expense was $404 million, $345 million and $320 million for fiscal 2022, 2021 and 2020 respectively.

	October 30, 2022		October 31, 2021
	(In millions)
Deferred Income Taxes and Other Assets
Non-current deferred income taxes	$	1,395	$	1,623
Operating lease right-of-use assets	389		294
Income tax receivables and other assets	691		229
	$	2,475	$	2,146

	October 30, 2022		October 31, 2021
	(In millions)
Accounts Payable and Accrued Expenses
Accounts payable	$	1,755	$	1,472
Compensation and employee benefits	905		924
Warranty	286		242
Dividends payable	220		214
Income taxes payable	319		734
Other accrued taxes	30		24
Interest payable	39		39
Operating lease liabilities, current	85		73
Other	598		546
	$	4,237	$	4,268

	October 30, 2022		October 31, 2021
	(In millions)
Other Liabilities
Defined and postretirement benefit plans	$	107	$	193
Operating lease liabilities, non-current	287		228
Other	338		271
	$	732	$	692