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

9 Months Ended

Jul. 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	7		57		—		—		64
Amounts reclassified out of AOCI	—		2		—		—		2
Other comprehensive income (loss), net of tax	7		59		—		—		66
Balance as of July 27, 2025	$	—	$	(28)	$	(87)	$	13	$	(102)

	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	27		44		—		—		71
Amounts reclassified out of AOCI	9		—		(9)		—		—
Other comprehensive income (loss), net of tax	36		44		(9)		—		71
Balance as of July 28, 2024	$	(14)	$	(74)	$	(71)	$	13	$	(146)

Schedule of Stock Repurchases

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

	Three Months Ended				Nine Months Ended
	July 27, 2025		July 28, 2024		July 27, 2025		July 28, 2024
	(in millions, except per share amount)
Shares of common stock repurchased	6		4		25		13
Cost of stock repurchased (including excise tax)*	$	1,038	$	868	$	4,037	$	2,398
Average price paid per share (including excise tax)*	$	164.47	$	222.82	$	160.95	$	189.90
Cost of stock repurchased (excluding excise tax)	$	1,028	$	861	$	4,003	$	2,381
Average price paid per share (excluding excise tax)	$	162.97	$	221.27	$	159.60	$	188.60

(*) 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				Nine Months Ended
	July 27, 2025		July 28, 2024		July 27, 2025		July 28, 2024
	(In millions)
Cost of products sold	$	40	$	33	$	118	$	98
Research, development and engineering	65		53		196		163
Marketing and selling	21		17		63		53
General and administrative	32		29		135		122
Total share-based compensation	$	158	$	132	$	512	$	436

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 nine months ended July 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	$	166.59
Vested	(4)	$	127.02
Canceled	—	$	137.99
Outstanding as of July 27, 2025	10	$	145.58

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:

	Nine Months Ended
	July 27, 2025		July 28, 2024
	(In millions, except per share amounts)
Weighted average grant date fair value per share of awards granted	$	166.59	$	148.07
Total fair value of vested awards	$	522	$	468

Schedule of Employee Stock Purchase Plan

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

	Nine Months Ended
	July 27, 2025	July 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