Balance Sheet Detail

3 Months Ended

Jan. 28, 2024

Balance Sheet Detail [Abstract]

Balance Sheet Detail

Balance Sheet Detail

 

	January 28, 2024		October 29, 2023
	(In millions)
Inventories
Customer service spares	$	1,567	$	1,589
Raw materials	1,644		1,653
Work-in-process	931		997
Finished goods
Deferred cost of sales	409		413
Evaluation inventory	462		423
Manufactured on-hand inventory	633		650
Total finished goods	1,504		1,486
Total inventories	$	5,646	$	5,725

 

	January 28, 2024		October 29, 2023
	(In millions)
Other Current Assets
Prepaid income taxes and income taxes receivable	$	311	$	412
Prepaid expenses and other	1,033		976
	$	1,344	$	1,388

	Useful Life	January 28, 2024		October 29, 2023
	(In years)	(In millions)
Property, Plant and Equipment, Net
Land and improvements		$	393	$	393
Buildings and improvements	3-30	2,211		2,194
Demonstration and manufacturing equipment	5-8	2,393		2,353
Furniture, fixtures and other equipment	3-5	765		762
Construction in progress		774		672
Gross property, plant and equipment		6,536		6,374
Accumulated depreciation		(3,710)		(3,651)
		$	2,826	$	2,723

	January 28, 2024		October 29, 2023
	(In millions)
Deferred Income Taxes and Other Assets
Non-current deferred income taxes	$	1,793	$	1,729
Operating lease right-of-use assets	356		370
Finance lease right-of-use assets	107		108
Income tax receivables and other assets	351		345
	$	2,607	$	2,552

	January 28, 2024		October 29, 2023
	(In millions)
Accounts Payable and Accrued Expenses
Accounts payable	$	1,416	$	1,478
Compensation and employee benefits	601		1,024
Warranty	344		332
Dividends payable	266		267
Income taxes payable	353		282
Other accrued taxes	66		65
Interest payable	54		38
Operating lease liabilities, current	84		84
Finance lease liabilities, current	103		102
Other	542		625
	$	3,829	$	4,297

 

	January 28, 2024		October 29, 2023
	(In millions)
Other Liabilities
Defined and postretirement benefit plans	$	130	$	126
Operating lease liabilities, non-current	240		252
Other	353		336
	$	723	$	714

Government Assistance

We receive government assistance from various domestic and foreign governments in the form of cash grants or refundable tax credits. These arrangements incentivize capital investments and research and development activities. Government incentives generally contain conditions that must be met in order for the assistance to be earned. We recognize the incentives when there is reasonable assurance that we will comply with all conditions specified in the incentive arrangement and the incentive will be received.

We record capital expenditure related incentives as an offset to the associated property, plant and equipment, net within our Consolidated Condensed Balance Sheets and recognize a reduction to depreciation expense over the useful life of the corresponding acquired asset. We record incentives related to operating activities as a reduction to expense in the same line item on the Consolidated Condensed Statements of Operations as the expenditure for which the grant is intended to compensate. Capital expenditure related incentives reduced gross property, plant and equipment, net by $195 million as of January 28, 2024. Contra-depreciation expense was not material in the three months ended January 28, 2024. Operating incentives recognized as a reduction to research, development and engineering expense were $16 million in the three months ended January 28, 2024. Capital expenditure related incentives reduced our income taxes payable by $190 million as of January 28, 2024, of which $184 million is in accounts payable and accrued expenses and $6 million is in income taxes payable, in our Consolidated Condensed Balance Sheets.