Debt (Tables)

9 Months Ended

Jul. 31, 2020

Debt Disclosure [Abstract]

Debt

The following tables present the components of Notes payable and current maturities of long-term debt and Long-term debt in our Consolidated Balance Sheets:

(in millions)	July 31, 2020		October 31, 2019
Manufacturing operations
Senior Secured Term Loan Credit Agreement, due 2025, net of unamortized discount of $5 and $6, respectively, and unamortized debt issuance costs of $8 and $10, respectively	$	1,547	$	1,556
9.5% Senior Secured Notes, due 2025, net of unamortized debt issuance costs of $11	589		—
6.625% Senior Notes, due 2026, net of unamortized debt issuance costs of $13 and $15, respectively	1,087		1,085
Loan Agreement related to 6.75% Tax Exempt Bonds, due 2040, net of unamortized debt issuance costs of $5 at both dates	220		220
Financed lease obligations	48		60
Other	41		11
Total Manufacturing operations debt	3,532		2,932
Less: Current portion	73		32
Net long-term Manufacturing operations debt	$	3,459	$	2,900

(in millions)	July 31, 2020		October 31, 2019
Financial Services operations
Asset-backed debt issued by consolidated SPEs, at fixed and variable rates, due serially through 2022, net of unamortized debt issuance costs of $4 at both dates	$	1,008	$	991
Bank credit facilities, at fixed and variable rates, due dates from 2020 through 2025, net of unamortized debt issuance costs of less than $1 and $1, respectively	914		1,059
Commercial paper, at variable rates, program matures in 2022	—		84
Borrowings secured by operating and finance leases, at various rates, due serially through 2024	105		122
Total Financial Services operations debt	2,027		2,256
Less: Current portion	792		839
Net long-term Financial Services operations debt	$	1,235	$	1,417