Stockholders' Equity, Comprehensive Income and Share-Based Compensation (Tables)

6 Months Ended

Apr. 30, 2023

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Loss, After-Tax Basis

Changes in the components of accumulated other comprehensive income (AOCI), net of tax, were as follows:

 

	Unrealized Gain (Loss) on Investments, Net		Unrealized Gain (Loss) on Derivative Instruments Qualifying as Cash Flow Hedges		Defined and Postretirement Benefit Plans		Cumulative Translation Adjustments		Total
	(in millions)
Balance as of October 30, 2022	$	(75)	$	(52)	$	(88)	$	13	$	(202)
Other comprehensive income (loss) before reclassifications	20		(37)		—		—		(17)
Amounts reclassified out of AOCI	8		(24)		—		—		(16)
Other comprehensive income (loss), net of tax	28		(61)		—		—		(33)
Balance as of April 30, 2023	$	(47)	$	(113)	$	(88)	$	13	$	(235)

	Unrealized Gain (Loss) on Investments, Net		Unrealized Gain (Loss) on Derivative Instruments Qualifying as Cash Flow Hedges		Defined and Postretirement Benefit Plans		Cumulative Translation Adjustments		Total
	(in millions)
Balance as of October 31, 2021	$	(1)	$	(103)	$	(169)	$	13	$	(260)
Other comprehensive income (loss) before reclassifications	(38)		46		—		—		8
Amounts reclassified out of AOCI	(10)		(13)		—		—		(23)
Other comprehensive income (loss), net of tax	(48)		33		—		—		(15)
Balance as of May 1, 2022	$	(49)	$	(70)	$	(169)	$	13	$	(275)

Schedule of Stock Repurchases

The following table summarizes our stock repurchases for the three and six months ended April 30, 2023 and May 1, 2022:

	Three Months Ended				Six Months Ended
	April 30, 2023		May 1, 2022		April 30, 2023		May 1, 2022
	(in millions, except per share amount)
Shares of common stock repurchased	7		15		9		27
Cost of stock repurchased*	$	804	$	1,800	$	1,054	$	3,603
Average price paid per share*	$	115.53	$	124.84	$	112.39	$	134.54

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* Effective January 1, 2023, amounts include the 1% surcharge on stock repurchases under the Inflation Reduction Act’s excise tax. This excise tax is recorded in equity and reduces the amount available under the repurchase program, as applicable.

Schedule of Effect of Share-Based Compensation on The Results of Operations

The effect of share-based compensation on the results of operations was as follows: 

	Three Months Ended				Six Months Ended
	April 30, 2023		May 1, 2022		April 30, 2023		May 1, 2022
	(In millions)
Cost of products sold	$	42	$	36	$	96	$	78
Research, development and engineering	41		37		95		80
Marketing and selling	12		12		29		26
General and administrative	18		16		41		35
Total share-based compensation	$	113	$	101	$	261	$	219

Schedule of Restricted Stock Units And Restricted Stock Activity

A summary of the changes in restricted stock units, restricted stock, performance share units and performance units outstanding under our equity compensation plans during the six months ended April 30, 2023 is presented below:

	Shares	Weighted Average Grant Date Fair Value
	(In millions, except per share amounts)
Outstanding as of October 30, 2022	11	$	92.31
Granted	6	$	102.32
Vested	(5)	$	71.09
Canceled	—	$	104.59
Outstanding as of April 30, 2023	12	$	104.42

Schedule of Employee Stock Purchase Plan

Underlying assumptions used in the model are outlined in the following table:

	Three and Six Months Ended
	April 30, 2023	May 1, 2022
Dividend yield	1.09%	0.74%
Expected volatility	43.3%	45.2%
Risk-free interest rate	5.14%	0.60%
Expected life (in years)	0.5	0.5
Weighted average estimated fair value	$32.47	$35.79