Cash, Cash Equivalents and Investments (Tables)

12 Months Ended

Oct. 30, 2022

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 30, 2022	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,199	$	—	$	—	$	1,199
Cash equivalents:
Money market funds	660		—		—		660
U.S. Treasury and agency securities	4		—		—		4
Municipal securities	13		—		—		13
Commercial paper, corporate bonds and medium-term notes	119		—		—		119
Total Cash equivalents	796		—		—		796
Total Cash and Cash equivalents	$	1,995	$	—	$	—	$	1,995
Short-term and long-term investments:
Bank certificate of deposit	$	7	$	—	$	—	$	7
U.S. Treasury and agency securities	435		—		13		422
Non-U.S. government securities*	7		—		1		6
Municipal securities	389		—		16		373
Commercial paper, corporate bonds and medium-term notes	595		—		21		574
Asset-backed and mortgage-backed securities	432		—		19		413
Total fixed income securities	1,865		—		70		1,795
Publicly traded equity securities	85		63		26		122
Equity investments in privately-held companies	567		86		4		649
Total equity investments	652		149		30		771
Total short-term and long-term investments	$	2,517	$	149	$	100	$	2,566
Total Cash, Cash equivalents and Investments	$	4,512	$	149	$	100	$	4,561

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* Includes Canadian provincial government debt

October 31, 2021	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,407	$	—	$	—	$	1,407
Cash equivalents:
Money market funds	3,556		—		—		3,556
Municipal securities	22		—		—		22
Commercial paper, corporate bonds and medium-term notes	10		—		—		10
Total Cash equivalents	3,588		—		—		3,588
Total Cash and Cash equivalents	$	4,995	$	—	$	—	$	4,995
Short-term and long-term investments:
U.S. Treasury and agency securities	$	314	$	—	$	—	$	314
Non-U.S. government securities*	5		—		—		5
Municipal securities	367		3		1		369
Commercial paper, corporate bonds and medium-term notes	587		2		2		587
Asset-backed and mortgage-backed securities	555		3		1		557
Total fixed income securities	1,828		8		4		1,832
Publicly traded equity securities	22		39		3		58
Equity investments in privately-held companies	561		82		14		629
Total equity investments	583		121		17		687
Total short-term and long-term investments	$	2,411	$	129	$	21	$	2,519
Total Cash, Cash equivalents and Investments	$	7,406	$	129	$	21	$	7,514

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*Includes Canadian provincial government debt.

Contractual maturities of investments

The following table summarizes the contractual maturities of Applied’s investments at October 30, 2022:

 

	Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	538	$	531
Due after one through five years	888		844
Due after five years	7		7
No single maturity date**	1,084		1,184
Total	$	2,517	$	2,566

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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.

Components of gain (loss) on equity investment

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

	2022		2021		2020
	(In millions)
Publicly traded equity securities
Unrealized gain	$	30	$	14	$	14
Unrealized loss	(62)		(11)		(17)
Realized gain on sales	7		2		1
Equity investments in privately-held companies
Unrealized gain	41		65		18
Unrealized loss	(5)		(12)		(7)
Realized gain on sales	3		48		8
Realized loss on sales or impairment	(7)		(7)		(8)
Total gain (loss) on equity investments, net	$	7	$	99	$	9