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

6 Months Ended

Apr. 27, 2025

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Income (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 27, 2024	$	(7)	$	(87)	$	(87)	$	13	$	(168)
Other comprehensive income (loss) before reclassifications	5		13		—		—		18
Amounts reclassified out of AOCI	—		6		—		—		6
Other comprehensive income (loss), net of tax	5		19		—		—		24
Balance as of April 27, 2025	$	(2)	$	(68)	$	(87)	$	13	$	(144)

	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)

Schedule of Stock Repurchases

The following table summarizes our stock repurchases, including and excluding excise tax, for the three and six months ended April 27, 2025 and April 28, 2024:

	Three Months Ended				Six Months Ended
	April 27, 2025		April 28, 2024		April 27, 2025		April 28, 2024
	(in millions, except per share amount)
Shares of common stock repurchased	11		4		19		9
Cost of stock repurchased (including excise tax)*	$	1,685	$	827	$	2,999	$	1,530
Average price paid per share (including excise tax)*	$	148.88	$	199.59	$	159.77	$	175.23
Cost of stock repurchased (excluding excise tax)	$	1,670	$	820	$	2,975	$	1,520
Average price paid per share (excluding excise tax)	$	147.59	$	197.77	$	158.47	$	174.04

(*) 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 27, 2025		April 28, 2024		April 27, 2025		April 28, 2024
	(In millions)
Cost of products sold	$	40	$	33	$	78	$	65
Research, development and engineering	64		54		131		110
Marketing and selling	22		18		42		36
General and administrative	33		29		103		93
Total share-based compensation	$	159	$	134	$	354	$	304

Schedule of Changes in Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units

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 27, 2025 is presented below:

	Shares	Weighted Average Grant Date Fair Value
	(In millions, except per share amounts)
Outstanding as of October 27, 2024	10	$	129.31
Granted	4	$	166.52
Vested	(3)	$	127.23
Canceled	—	$	136.63
Outstanding as of April 27, 2025	11	$	144.01

A summary of the weighted-average grant date fair value per share of the granted restricted stock units, restricted stock, performance share units and performance units and total fair value vested awards for indicated periods is presented below:

	Six Months Ended
	April 27, 2025		April 28, 2024
	(In millions, except per share amounts)
Weighted average grant date fair value per share of awards granted	$	166.52	$	146.05
Total fair value of vested awards	$	441	$	421

Schedule of Employee Stock Purchase Plan

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

	Three and Six Months Ended
	April 27, 2025	April 28, 2024
Dividend yield	1.21%	0.76%
Expected volatility	42.3%	35.6%
Risk-free interest rate	4.27%	5.27%
Expected life (in years)	0.5	0.5
Weighted average estimated fair value	$41.47	$53.98