Leases (Tables)

12 Months Ended

Oct. 31, 2020

Leases [Abstract]

Supplemental Balance Sheet Information Related to Leases

The following table presents balance sheet information related to operating leases:

(in millions)	As of October 31, 2020
Operating lease right of use assets	$	119
Finance lease right of use assets(A)	2
Total right of use assets	$	121
Operating lease liabilities
Other current liabilities	$	30
Other noncurrent liabilities	92
Finance lease liabilities
Notes payable and current maturities of long-term debt	1
Long-term debt	1
Total lease liabilities	$	124

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(A) Finance lease right of use assets are included in Property and Equipment, net on our Consolidated Balance Sheets.

Finance Lease, Liability, Fiscal Year Maturity

The following table presents maturities of lease liabilities:

	As of October 31, 2020
(in millions)	Finance Leases		Operating Leases
2021	$	1	$	35
2022	1		30
2023	—		23
2024	—		17
2025	—		10
Thereafter	—		23
Total lease payments	2		138
Less: Present value discount	—		16
Total lease liabilities	$	2	$	122

Lessee, Operating Lease, Liability, Maturity

The following table presents maturities of lease liabilities:

	As of October 31, 2020
(in millions)	Finance Leases		Operating Leases
2021	$	1	$	35
2022	1		30
2023	—		23
2024	—		17
2025	—		10
Thereafter	—		23
Total lease payments	2		138
Less: Present value discount	—		16
Total lease liabilities	$	2	$	122

Supplemental Cash Flow Information Related to Leases

The following table presents cash flow information related to operating leases:

(in millions)	For the Year Ended October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	40
Right of use assets obtained in exchange for lease liabilities	$	44

The following table presents the weighted-average remaining lease term and discount rate:

	As of October 31, 2020
	Finance Leases		Operating Leases
Weighted-average remaining lease term	3.4		5.42
Weighted-average discount rate	4.3	%	4.5	%

Lessor, Revenue from Leases

The following table presents revenue from finance and operating leases, included in our Consolidated Statements of Operations:

	For the Year Ended October 31, 2020
(in millions)	Finance Leases(A)		Operating Leases
Sales of manufactured products, net	$	—	$	22
Finance revenues	31		75
Other expense, net	—		5
Total lease revenue	$	31	$	102

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(A) Finance revenues consist primarily of interest income. Additional fees, such as late fees, are not material to our consolidated financial statements.

Lessor, Supplemental Balance Sheet Information Related to Leases

The following table presents the carrying amount of equipment leased to others, included in Property and Equipment, net in our Consolidated Balance Sheets:

(in millions)	October 31, 2020		October 31, 2019
Equipment leased to others, at original cost	$	561	$	562
Less: Accumulated depreciation	144		126
Equipment leased to others, net	$	417	$	436

Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity

The following table presents payments due from operating leases:

(in millions)	October 31, 2020
2021	$	95
2022	83
2023	76
2024	53
2025	29
Thereafter	38
Total	$	374

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table presents maturities of finance lease receivables reconciled to the net investment in finance leases:

(in millions)	October 31, 2020
2021	$	83
2022	68
2023	44
2024	26
2025	11
Thereafter	2
Total	234
Less: Unearned interest income	48
Net investment in finance leases	$	186