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

9 Months Ended

Jul. 30, 2023

Equity [Abstract]

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

Changes in the components of accumulated other comprehensive income (loss) (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	16		(25)		—		—		(9)
Amounts reclassified out of AOCI	9		(21)		—		—		(12)
Other comprehensive income (loss), net of tax	25		(46)		—		—		(21)
Balance as of July 30, 2023	$	(50)	$	(98)	$	(88)	$	13	$	(223)

	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	(36)		73		—		—		37
Amounts reclassified out of AOCI	(9)		(27)		—		—		(36)
Other comprehensive income (loss), net of tax	(45)		46		—		—		1
Balance as of July 31, 2022	$	(46)	$	(57)	$	(169)	$	13	$	(259)

Schedule of Stock Repurchases

The following table summarizes our stock repurchases, including excise tax, for the three and nine months ended July 30, 2023 and July 31, 2022:

	Three Months Ended				Nine Months Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
	(in millions, except per share amount)
Shares of common stock repurchased	4		10		13		37
Cost of stock repurchased	$	443	$	1,000	$	1,497	$	4,603
Average price paid per share	$	131.09	$	102.09	$	117.35	$	125.85

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				Nine Months Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
	(In millions)
Cost of products sold	$	42	$	34	$	138	$	112
Research, development and engineering	42		35		137		115
Marketing and selling	13		11		42		37
General and administrative	17		15		58		50
Total share-based compensation	$	114	$	95	$	375	$	314

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 nine months ended July 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	$	103.11
Vested	(5)	$	71.61
Canceled	—	$	103.92
Outstanding as of July 30, 2023	12	$	105.27

Schedule of Employee Stock Purchase Plan

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

	Nine Months Ended
	July 30, 2023	July 31, 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