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

6 Months Ended

Apr. 28, 2024

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 29, 2023	$	(50)	$	(118)	$	(62)	$	13	$	(217)
Other comprehensive income (loss) before reclassifications	13		37		—		—		50
Amounts reclassified out of AOCI	5		(1)		(9)		—		(5)
Other comprehensive income (loss), net of tax	18		36		(9)		—		45
Balance as of April 28, 2024	$	(32)	$	(82)	$	(71)	$	13	$	(172)

	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)

Schedule of Stock Repurchases

The following table summarizes our stock repurchases, including and excluding excise tax, for the three and six months ended April 28, 2024 and April 30, 2023:

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
	(in millions, except per share amount)
Shares of common stock repurchased	4		7		9		9
Cost of stock repurchased (including excise tax)*	$	827	$	804	$	1,530	$	1,054
Average price paid per share (including excise tax)*	$	199.59	$	115.53	$	175.23	$	112.39
Cost of stock repurchased (excluding excise tax)	$	820	$	800	$	1,520	$	1,050
Average price paid per share (excluding excise tax)	$	197.77	$	114.94	$	174.04	$	111.96

(*) Stock repurchase 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 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
	(In millions)
Cost of products sold	$	33	$	42	$	65	$	96
Research, development and engineering	54		41		110		95
Marketing and selling	18		12		36		29
General and administrative	29		18		93		41
Total share-based compensation	$	134	$	113	$	304	$	261

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 28, 2024 is presented below:

	Shares	Weighted Average Grant Date Fair Value
	(In millions, except per share amounts)
Outstanding as of October 29, 2023	12	$	106.24
Granted	4	$	146.05
Vested	(4)	$	96.54
Canceled	(1)	$	119.20
Outstanding as of April 28, 2024	11	$	124.99

Schedule of Employee Stock Purchase Plan

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

	Three and Six Months Ended
	April 28, 2024	April 30, 2023
Dividend yield	0.76%	1.09%
Expected volatility	35.6%	43.3%
Risk-free interest rate	5.27%	5.14%
Expected life (in years)	0.5	0.5
Weighted average estimated fair value	$53.98	$32.47