Balance Sheet Detail

12 Months Ended

Oct. 27, 2024

Balance Sheet Detail [Abstract]

Balance Sheet Detail

Balance Sheet Detail

 

	October 27, 2024		October 29, 2023
	(In millions)
Inventories
Customer service spares	$	1,742	$	1,589
Raw materials	1,680		1,653
Work-in-process	879		997
Finished goods
Deferred cost of sales	217		413
Evaluation inventory	459		423
Manufactured on-hand inventory	444		650
Total finished goods	1,120		1,486
Total inventories	$	5,421	$	5,725

	October 27, 2024		October 29, 2023
	(In millions)
Other Current Assets
Prepaid income taxes and income taxes receivable	$	120	$	412
Prepaid expenses and other	974		976
	$	1,094	$	1,388

	Useful Life	October 27, 2024		October 29, 2023
	(In years)	(In millions)
Property, Plant and Equipment, Net
Land and improvements		$	492	$	393
Buildings and improvements	3-30	2,359		2,194
Demonstration and manufacturing equipment	5-8	2,578		2,353
Furniture, fixtures and other equipment	3-5	782		762
Construction in progress		898		672
Gross property, plant and equipment		7,109		6,374
Accumulated depreciation		(3,770)		(3,651)
		$	3,339	$	2,723

Depreciation expense was $346 million, $471 million and $404 million for fiscal 2024, 2023 and 2022, respectively.

	October 27, 2024		October 29, 2023
	(In millions)
Deferred Income Taxes and Other Assets
Non-current deferred income taxes	$	2,393	$	1,729
Operating lease right-of-use assets	375		370
Finance lease right-of-use assets	—		108
Income tax receivables and other assets	314		345
	$	3,082	$	2,552

	October 27, 2024		October 29, 2023
	(In millions)
Accounts Payable and Accrued Expenses
Accounts payable	$	1,570	$	1,478
Compensation and employee benefits	1,188		1,024
Warranty	364		332
Dividends payable	327		267
Income taxes payable	535		282
Operating lease liabilities, current	87		84
Finance lease liabilities, current	—		102
Other	749		728
	$	4,820	$	4,297

	October 27, 2024		October 29, 2023
	(In millions)
Other Liabilities
Defined and postretirement benefit plans	$	142	$	126
Operating lease liabilities, non-current	259		252
Other	409		336
	$	810	$	714

Government Assistance

Capital expenditure related incentives reduced gross property, plant and equipment, net by $479 million as of October 27, 2024. Contra-depreciation expense was not material in fiscal 2024. Operating incentives recognized as a reduction to research, development and engineering expense was $38 million in fiscal 2024. Capital expenditure related incentives reduced our income taxes payable by $170 million as of October 27, 2024, of which $159 million is in accounts payable and accrued expenses and $11 million is in deferred income taxes and other assets, in our Consolidated Balance Sheets.