0000006951-23-000012 | 10-Q | XBRL Viewer

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Cover Page	3 Months Ended
Cover Page	Jan. 29, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 29, 2023
Document Transition Report	false
Entity File Number	000-06920
Entity Registrant Name	APPLIED MATERIALS INC /DE
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1655526
Entity Address, Address Line One	3050 Bowers Avenue
Entity Address, Address Line Two	P.O. Box 58039
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95052-8039
City Area Code	408
Local Phone Number	727-5555
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	AMAT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	845,118,427
Entity Central Index Key	0000006951
Current Fiscal Year End Date	--10-29
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Condensed Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Income Statement [Abstract]
Net sales	$ 6,739	$ 6,271
Cost of products sold	3,594	3,312
Gross profit	3,145	2,959
Operating expenses:
Research, development and engineering	771	654
Marketing and selling	197	167
General and administrative	207	166
Severance and related charges	0	(4)
Total operating expenses	1,175	983
Income from operations	1,970	1,976
Interest expense	59	57
Interest and other income (loss), net	50	6
Income before income taxes	1,961	1,925
Provision for income taxes	244	133
Net income	$ 1,717	$ 1,792
Earnings per share:
Basic (in dollars per share)	$ 2.03	$ 2.02
Diluted (in dollars per share)	$ 2.02	$ 2.00
Weighted average number of shares:
Basic (in shares)	845	889
Diluted (in shares)	849	897

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,717	$ 1,792
Other comprehensive income (loss), net of tax:
Change in unrealized gain (loss) on available-for-sale investments	23	(15)
Change in unrealized net loss on derivative instruments	(56)	(3)
Other comprehensive income (loss), net of tax	(33)	(18)
Comprehensive income	$ 1,684	$ 1,774

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Current assets:
Cash and cash equivalents	$ 3,547	$ 1,995
Short-term investments	500	586
Accounts receivable, net	5,385	6,068
Inventories	6,054	5,932
Other current assets	1,229	1,344
Total current assets	16,715	15,925
Long-term investments	2,088	1,980
Property, plant and equipment, net	2,494	2,307
Goodwill	3,718	3,700
Purchased technology and other intangible assets, net	332	339
Deferred income taxes and other assets	2,612	2,475
Total assets	27,959	26,726
Current liabilities:
Short-term debt	199	0
Accounts payable and accrued expenses	3,969	4,237
Contract liabilities	3,082	3,142
Total current liabilities	7,250	7,379
Long-term debt	5,458	5,457
Income taxes payable	975	964
Other liabilities	856	732
Total liabilities	14,539	14,532
Stockholders’ equity:
Common stock	8	8
Additional paid-in capital	8,605	8,593
Retained earnings	39,389	37,892
Treasury stock	(34,347)	(34,097)
Accumulated other comprehensive loss	(235)	(202)
Total stockholders’ equity	13,420	12,194
Total liabilities and stockholders’ equity	$ 27,959	$ 26,726

Consolidated Condensed Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Beginning Balance, (in shares) at Oct. 31, 2021		892
Treasury stock, beginning balance (in shares) at Oct. 31, 2021					1,119
Beginning Balance at Oct. 31, 2021	$ 12,247	$ 9	$ 8,247	$ 32,246	$ (27,995)	$ (260)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,792			1,792
Other comprehensive income (loss), net of tax	(18)					(18)
Dividends declared	(211)			(211)
Share-based compensation	118		118
Issuance under stock plans (in shares)		3
Issuance under stock plans	$ (235)		(235)
Common stock repurchases (in shares)	(12)	(12)			(12)
Common stock repurchases	$ (1,803)				$ (1,803)
Ending Balance, (in shares) at Jan. 30, 2022		883
Treasury stock, ending balance (in shares) at Jan. 30, 2022					1,131
Ending Balance at Jan. 30, 2022	11,890	$ 9	8,130	33,827	$ (29,798)	(278)
Beginning Balance, (in shares) at Oct. 30, 2022		844
Treasury stock, beginning balance (in shares) at Oct. 30, 2022					1,173
Beginning Balance at Oct. 30, 2022	12,194	$ 8	8,593	37,892	$ (34,097)	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,717			1,717
Other comprehensive income (loss), net of tax	(33)					(33)
Dividends declared	(220)			(220)
Share-based compensation	148		148
Issuance under stock plans (in shares)		3
Issuance under stock plans	$ (136)		(136)
Common stock repurchases (in shares)	(2)	(2)			(2)
Common stock repurchases	$ (250)				$ (250)
Ending Balance, (in shares) at Jan. 29, 2023		845
Treasury stock, ending balance (in shares) at Jan. 29, 2023					1,175
Ending Balance at Jan. 29, 2023	$ 13,420	$ 8	$ 8,605	$ 39,389	$ (34,347)	$ (235)

Consolidated Condensed Statements of Stockholders' Equity (Parenthetical) - $ / shares	1 Months Ended	3 Months Ended
	Dec. 31, 2022	Jan. 29, 2023	Jan. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.26	$ 0.26	$ 0.24

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Cash flows from operating activities:
Net income	$ 1,717	$ 1,792
Adjustments required to reconcile net income to cash provided by operating activities:
Depreciation and amortization	120	102
Severance and related charges	0	(4)
Share-based compensation	148	118
Deferred income taxes	(21)	1
Other	7	16
Changes in operating assets and liabilities:
Accounts receivable	683	548
Inventories	(122)	(217)
Other current and non-current assets	109	347
Accounts payable and accrued expenses	(567)	(393)
Contract liabilities	(60)	321
Income taxes payable	215	(34)
Other liabilities	41	61
Cash provided by operating activities	2,270	2,658
Cash flows from investing activities:
Capital expenditures	(287)	(144)
Cash paid for acquisitions, net of cash acquired	(20)	0
Proceeds from sales and maturities of investments	414	318
Purchases of investments	(406)	(312)
Cash used in investing activities	(299)	(138)
Cash flows from financing activities:
Proceeds from commercial paper	298	0
Repayments of commercial paper	(100)	0
Common stock repurchases	(250)	(1,803)
Tax withholding payments for vested equity awards	(136)	(235)
Payments of dividends to stockholders	(220)	(214)
Financing cash flows paid for finance leases	(10)	0
Cash used in financing activities	(418)	(2,252)
Increase in cash, cash equivalents and restricted cash equivalents	1,553	268
Cash, cash equivalents and restricted cash equivalents — beginning of period	2,100	5,101
Cash, cash equivalents and restricted cash equivalents — end of period	3,653	5,369
Reconciliation of cash, cash equivalents, and restricted cash equivalents
Cash and cash equivalents	3,547	5,264
Restricted cash equivalents included in deferred income taxes and other assets	106	105
Total cash, cash equivalents, and restricted cash equivalents	3,653	5,369
Supplemental cash flow information:
Cash payments for income taxes	69	80
Cash refunds from income taxes	4	123
Cash payments for interest	$ 34	$ 34

Basis of Presentation	3 Months Ended
Basis of Presentation	Jan. 29, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation In the opinion of our management, the unaudited interim consolidated condensed financial statements of Applied Materials, Inc. and its subsidiaries (we, us, and our) included herein have been prepared on a basis consistent with the October 30, 2022 audited consolidated financial statements and include all material adjustments, consisting of normal recurring adjustments, necessary to fairly state the information set forth therein. These unaudited interim consolidated condensed financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended October 30, 2022 (2022 Form 10-K). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make judgments, estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Our results of operations for the three months ended January 29, 2023 are not necessarily indicative of future operating results. Our fiscal year ends on the last Sunday in October of each year. Fiscal 2023 and 2022 contain 52 weeks each and the first three months of fiscal 2023 and 2022 each contained 13 weeks. Recent Accounting Pronouncements Accounting Standards Not Yet Adopted Disclosures by Business Entities about Government Assistance. In November 2021, the Financial Accounting Standard Board (FASB) issued an accounting standard update which requires annual disclosures related to certain government assistance received by business entities (Topic 832) including (1) the types of assistance, (2) the entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. This authoritative guidance is effective for us in our fiscal 2023 Form 10-K. The adoption of this authoritative guidance is not expected to have a significant impact to our financial results and only impacts the disclosures in our notes to consolidated financial statements. Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. In June 2022, the FASB issued an accounting standard update which clarifies how the fair value of equity securities subject to contractual sale restrictions is determined (Topic 820). The amendment clarifies that a contractual sale restriction should not be considered in measuring fair value. It also requires certain qualitative and quantitative disclosures related to equity securities subject to contractual sale restrictions. This authoritative guidance will be effective for us in the first quarter of fiscal 2025, with early adoption permitted. We are currently evaluating the effect of this new guidance on our consolidated condensed financial statements. Contract Assets and Contract Liabilities from Revenue Contracts with Customers in a Business Combination. In October 2021, the FASB issued an accounting standard update to improve the accounting for contract assets and contract liabilities from revenue contracts with customers in a business combination (Topic 805). This amendment improves comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. This authoritative guidance will be effective for us in the first quarter of fiscal 2024, with early adoption permitted. We are currently evaluating the effect of this new guidance on our consolidated condensed financial statements.

Earnings Per Share

3 Months Ended

Jan. 29, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share is determined using the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined using the weighted average number of common shares and potential common shares (representing the dilutive effect of restricted stock units and employee stock purchase plan shares) outstanding during the period. Our net income has not been adjusted for any period presented for purposes of computing basic or diluted earnings per share due to our non-complex capital structure.


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions, except per share amounts)
Numerator:
Net income	$	1,717	$	1,792
Denominator:
Weighted average common shares outstanding	845		889
Effect of weighted dilutive restricted stock units and employee stock purchase plan shares	4		8
Denominator for diluted earnings per share	849		897
Basic earnings per share	$	2.03	$	2.02
Diluted earnings per share	$	2.02	$	2.00
Potentially weighted dilutive securities	2		—

Potentially weighted dilutive securities attributable to outstanding restricted stock units are excluded from the calculation of diluted earnings per share where the combined exercise price and average unamortized fair value are greater than the average market price of our common stock, and therefore their inclusion would be anti-dilutive.

Cash, Cash Equivalents and Investments

3 Months Ended

Jan. 29, 2023

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Investments

Summary of Cash, Cash Equivalents and Investments

The following tables summarize our cash, cash equivalents and investments by security type:


January 29, 2023	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(In millions)
Cash	$	1,225	$	—	$	—	$	1,225
Cash equivalents:
Money market funds	1,412		—		—		1,412
Bank certificates of deposit and time deposits	80		—		—		80


Municipal securities	10		—		—		10
Commercial paper, corporate bonds and medium-term notes	820		—		—		820

Total Cash equivalents	2,322		—		—		2,322
Total Cash and Cash equivalents	$	3,547	$	—	$	—	$	3,547
Short-term and long-term investments:
Bank certificates of deposit and time deposits	$	7	$	—	$	—	$	7
U.S. Treasury and agency securities	444		—		9		435
Non-U.S. government securities*	7		—		1		6
Municipal securities	372		1		10		363
Commercial paper, corporate bonds and medium-term notes	579		1		15		565
Asset-backed and mortgage-backed securities	443		1		15		429
Total fixed income securities	1,852		3		50		1,805
Publicly traded equity securities	85		57		12		130
Equity investments in privately-held companies	573		83		3		653
Total equity investments	658		140		15		783
Total short-term and long-term investments	$	2,510	$	143	$	65	$	2,588

Total Cash, Cash equivalents and Investments	$	6,057	$	143	$	65	$	6,135

_________________________

* Includes Canadian provincial government debt.


October 30, 2022	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(In millions)
Cash	$	1,199	$	—	$	—	$	1,199
Cash equivalents:
Money market funds	660		—		—		660
U.S. Treasury and agency securities	4		—		—		4

Municipal securities	13		—		—		13
Commercial paper, corporate bonds and medium-term notes	119		—		—		119
Total Cash equivalents	796		—		—		796
Total Cash and Cash equivalents	$	1,995	$	—	$	—	$	1,995
Short-term and long-term investments:
Bank certificates of deposit	$	7	$	—	$	—	$	7
U.S. Treasury and agency securities	435		—		13		422
Non-U.S. government securities*	7		—		1		6
Municipal securities	389		—		16		373
Commercial paper, corporate bonds and medium-term notes	595		—		21		574
Asset-backed and mortgage-backed securities	432		—		19		413
Total fixed income securities	1,865		—		70		1,795
Publicly traded equity securities	85		63		26		122
Equity investments in privately-held companies	567		86		4		649
Total equity investments	652		149		30		771
Total short-term and long-term investments	$	2,517	$	149	$	100	$	2,566

Total Cash, Cash equivalents and Investments	$	4,512	$	149	$	100	$	4,561

_________________________

*Includes Canadian provincial government debt.

Maturities of Investments

The following table summarizes the contractual maturities of our investments as of January 29, 2023:


	Cost		Estimated Fair Value

	(In millions)
Due in one year or less	$	464	$	459
Due after one through five years	938		910
Due after five years	7		7
No single maturity date**	1,101		1,212
Total	$	2,510	$	2,588

_________________________

** Securities with no single maturity date include publicly-traded and privately-held equity securities and asset-backed and mortgage-backed securities.

Gains and Losses on Investments

During the three months ended January 29, 2023 and January 30, 2022 gross realized gains and losses on investments were not material.

As of January 29, 2023, and October 30, 2022, gross unrealized losses related to our debt investment portfolio were not material. We regularly review our debt investment portfolio to identify and evaluate investments that have indications of possible impairment from credit losses or other factors. Factors considered in determining whether an unrealized loss is considered to be a credit loss include: the significance of the decline in value compared to the cost basis; the financial condition; credit quality and near-term prospects of the investee; and whether it is more likely than not that we will be required to sell the security prior to recovery. Credit losses related to available-for-sale debt securities are recorded as an allowance for credit losses through interest and other income, net. Any additional changes in fair value that are not related to credit losses are recognized in accumulated other comprehensive income.

During the three months ended January 29, 2023 and January 30, 2022, we did not recognize material credit losses and the ending allowance for credit losses was not material to our debt investment portfolio. Impairment charges on equity investments in privately-held companies during the three months ended January 29, 2023 and January 30, 2022 were not material. These impairment charges are included in interest and other income, net in the Consolidated Condensed Statement of Operations.

The components of gain (loss) on equity investments for the three months ended January 29, 2023 and January 30, 2022 were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions)
Publicly traded equity securities
Unrealized gain	$	18	$	1
Unrealized loss	(16)		(8)
Realized gain on sales	—		2
Realized loss on sales	(1)		—
Equity investments in privately-held companies
Unrealized gain	4		12
Unrealized loss	(2)		—
Realized gain on sales	5		—
Realized loss on sales or impairment	—		(4)
Total gain (loss) on equity investments, net	$	8	$	3

Fair Value Measurements

3 Months Ended

Jan. 29, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Our financial assets are measured and recorded at fair value on a recurring basis, except for equity investments in privately-held companies. These equity investments are generally accounted for under the measurement alternative, defined as cost, less impairments, adjusted for subsequent observable price changes and are periodically assessed for impairment when events or circumstances indicate that a decline in value may have occurred. Our nonfinancial assets, such as goodwill, intangible assets, and property, plant and equipment, are recorded at cost and are assessed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable.

Fair Value Hierarchy

We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

•Level 1 — Quoted prices in active markets for identical assets or liabilities;

•Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

•Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Our investments consist primarily of debt securities that are classified as available-for-sale and recorded at their fair values. In determining the fair value of investments, we use pricing information from pricing services that value securities based on quoted market prices and models that utilize observable market inputs. In the event a fair value estimate is unavailable from a pricing service, we generally obtain non-binding price quotes from brokers. In addition, to validate pricing information obtained from pricing services, we periodically perform supplemental analysis on a sample of securities. We review any significant unanticipated differences identified through this analysis to determine the appropriate fair value. As of January 29, 2023, substantially all of our available-for-sale, short-term and long-term investments were recognized at fair value that was determined based upon observable inputs.

Our equity investments with readily determinable values consist of publicly traded equity securities. These investments are measured at fair value using quoted prices for identical assets in an active market and the changes in fair value of these equity investments are recognized in the consolidated statements of operations.

Investments with remaining effective maturities of 12 months or less from the balance sheet date are classified as short-term investments. Investments with remaining effective maturities of more than 12 months from the balance sheet date are classified as long-term investments.

Assets Measured at Fair Value on a Recurring Basis

Financial assets (excluding cash balances) measured at fair value on a recurring basis are summarized below:


	January 29, 2023				October 30, 2022
	Level 1		Level 2		Total		Level 1		Level 2		Total

	(In millions)
Assets:
Available-for-sale debt security investments
Money market funds*	$	1,518	$	—	$	1,518	$	765	$	—	$	765
Bank certificates of deposit and time deposits	—		87		87		—		7		7
U.S. Treasury and agency securities	394		41		435		404		22		426
Non-U.S. government securities	—		6		6		—		6		6
Municipal securities	—		373		373		—		386		386
Commercial paper, corporate bonds and medium-term notes	—		1,385		1,385		—		693		693
Asset-backed and mortgage-backed securities	—		429		429		—		413		413
Total available-for-sale debt security investments	$	1,912	$	2,321	$	4,233	$	1,169	$	1,527	$	2,696
Equity investments with readily determinable values

Publicly traded equity securities	$	130	$	—	$	130	$	122	$	—	$	122
Total equity investments with readily determinable values	$	130	$	—	$	130	$	122	$	—	$	122

Total	$	2,042	$	2,321	$	4,363	$	1,291	$	1,527	$	2,818

_________________________

* Amounts as of January 29, 2023 and October 30, 2022, include $106 million and $105 million, respectively, invested in money market funds related to deferred compensation plans. Due to restrictions on the distribution of these funds, they are classified as restricted cash equivalents and are included in deferred income taxes and other assets in the Consolidated Condensed Balance Sheets.

We did not have any financial assets measured at fair value on a recurring basis within Level 3 fair value measurements as of January 29, 2023 or October 30, 2022.

Assets and Liabilities without Readily Determinable Values Measured on a Non-recurring Basis

Our equity investments without readily determinable values consist of equity investments in privately-held companies. We elected the measurement alternative, defined as cost, less impairments, adjusted for subsequent observable price changes on a prospective basis for certain equity investments without readily determinable fair values and is required to account for any subsequent observable changes in fair value within the statements of operations. These investments are classified as Level 3 within the fair value hierarchy and periodically assessed for impairment when an event or circumstance indicates that a decline in value may have occurred. Impairment charges on equity investments in privately-held companies during the three months ended January 29, 2023 and January 30, 2022 were not material.

Other

The carrying amounts of our financial instruments, including cash and cash equivalents, restricted cash equivalents, accounts receivable, commercial paper notes, and accounts payable and accrued expenses, approximate fair value due to their short maturities. As of January 29, 2023, the aggregate principal amount of long-term senior unsecured notes was $5.5 billion and the estimated fair value was $5.2 billion. As of October 30, 2022, the aggregate principal amount of long-term senior unsecured notes was $5.5 billion and the estimated fair value was $4.8 billion. The estimated fair value of long-term senior unsecured notes is determined by Level 2 inputs and is based primarily on quoted market prices for the same or similar issues. See Note 10 of the Notes to the Consolidated Condensed Financial Statements for further detail of existing debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments and Hedging Activities

3 Months Ended

Jan. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Derivative Financial Instruments

We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar. We use derivative financial instruments, such as foreign currency forward and option contracts, to hedge certain forecasted foreign currency denominated transactions expected to occur typically within the next 24 months. The purpose of our foreign currency management is to mitigate the effect of exchange rate fluctuations on certain foreign currency denominated revenues, costs and eventual cash flows. The terms of currency instruments used for hedging purposes are generally consistent with the timing of the transactions being hedged.

We do not use derivative financial instruments for trading or speculative purposes. Derivative instruments and hedging activities, including foreign exchange and interest rate contracts, are recognized on the balance sheet at fair value. Changes in the fair value of derivatives that do not qualify for hedge accounting treatment are recognized currently in earnings. All of our derivative financial instruments are recorded at their fair value in other current assets or in accounts payable and accrued expenses.

Hedges related to anticipated transactions are designated and documented at the inception of the hedge as cash flow hedges and foreign exchange derivatives are typically entered into once per month. Cash flow hedges are evaluated for effectiveness quarterly. The effective portion of the gain or loss on these hedges is reported as a component of AOCI in stockholders’ equity and is reclassified into earnings when the hedged transaction affects earnings. The majority of the after-tax net income or loss related to foreign exchange derivative instruments included in AOCI as of January 29, 2023 is expected to be reclassified into earnings within 12 months. Changes in fair value caused by changes in time value of option contracts designated as cash flow hedges are excluded from the assessment of effectiveness. The initial value of this excluded component is amortized on a straight-line basis over the life of the hedging instrument and recognized in the financial statement line item to which the hedge relates. If the transaction being hedged is probable not to occur, we promptly recognize the gain or loss on the associated financial instrument in the consolidated condensed statement of operations. The amount recognized due to discontinuance of cash flow hedges that were probable of not occurring by the end of the originally specified time period was not significant for the three months ended January 29, 2023 and January 30, 2022.

Foreign currency forward contracts are generally used to hedge certain foreign currency denominated assets or liabilities. Accordingly, changes in the fair value of these hedges are recorded in earnings to offset the changes in the fair value of the assets or liabilities being hedged.

As of January 29, 2023 and October 30, 2022, the total outstanding notional amounts of foreign exchange contracts were both $2.1 billion. The fair values of foreign exchange derivative instruments as of January 29, 2023 and October 30, 2022 were not material.

The gain (loss) on derivatives in cash flow hedging relationships recognized in AOCI for derivatives designated as hedging instruments for the indicated periods were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022
	(In millions)
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts	$	(49)	$	5

Total	$	(49)	$	5

The effects of derivative instruments and hedging activities on the Consolidated Condensed Statements of Operations were as follows:


	Three Months Ended
	January 29, 2023						January 30, 2022
			Derivatives in Cash Flow Hedging Relationships						Derivatives in Cash Flow Hedging Relationships
	Total Amount Presented in the Consolidated Condensed Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations		Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations		Total Amount Presented in the Consolidated Condensed Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations		Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations
	(In millions)
Foreign Exchange Contracts:
Net Sales	$	6,739	$	25	$	—	$	6,271	$	13	$	—
Cost of products sold	$	3,594	2		—		$	3,312	(2)		—
Research, development and engineering	$	771	—		—		$	654	1		—


Interest Rate Contracts:
Interest expense	$	59	(3)		—		$	57	(3)		—
			$	24	$	—			$	9	$	—


		Amount of Gain or (Loss) Recognized in Consolidated Condensed Statement of Operations
		Three Months Ended
	Location of Gain or (Loss) Recognized in Consolidated Condensed Statement of Operations	January 29, 2023		January 30, 2022

		(In millions)
Derivatives Not Designated as Hedging Instruments


Foreign exchange contracts	Interest and other income, net	$	(48)	$	—
Total return swaps - deferred compensation	Cost of products sold	1		(1)
Total return swaps - deferred compensation	Operating expenses	12		(7)
Total return swaps - deferred compensation	Interest and other income, net	(2)		—
Total		$	(37)	$	(8)

Credit Risk Contingent Features

If our credit rating were to fall below investment grade, it would be in violation of credit risk contingent provisions of the derivative instruments discussed above, and certain counterparties to the derivative instruments could request immediate payment on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk related contingent features that were in a net liability position was immaterial as of January 29, 2023.

Entering into derivative contracts with banks exposes us to credit-related losses in the event of the banks’ nonperformance. However, our exposure is not considered significant.

Accounts Receivable, Net	3 Months Ended
Accounts Receivable, Net	Jan. 29, 2023
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net We have agreements with various financial institutions to sell accounts receivable and discount promissory notes from selected customers. We sell our accounts receivable generally without recourse. From time to time, we also discount letters of credit issued by customers through various financial institutions. The discounting of letters of credit depends on many factors, including the willingness of financial institutions to discount the letters of credit and the cost of such arrangements. We sold $279 million and $205 million of account receivables during the three months ended January 29, 2023 and January 30, 2022, respectively. We did not discount letters of credit issued by customers or discount promissory notes during the three months ended January 29, 2023 and January 30, 2022. Financing charges on the sale of receivables and discounting of letters of credit are included in interest expense in the accompanying Consolidated Condensed Statements of Operations and were not material for all periods presented. Accounts receivable are presented net of allowance for credit losses of $29 million as of January 29, 2023 and as of October 30, 2022. We sell our products principally to manufacturers within the semiconductor and display industries. While we believe that our allowance for credit losses is adequate and represents our best estimate as of January 29, 2023, we continue to closely monitor customer liquidity and industry and economic conditions, which may result in changes to our estimates.

Contract Balances

3 Months Ended

Jan. 29, 2023

Revenue from Contract with Customer [Abstract]

Contract Balances

Contract assets primarily result from receivables for goods transferred to customers where payment is conditional upon technical sign off and not just the passage of time. Contract liabilities consist of unsatisfied performance obligations related to advance payments received and billings in excess of revenue recognized. Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period.

Contract assets are generally classified as current and are included in Other Current Assets in the Consolidated Condensed Balance Sheets. Contract liabilities are classified as current or non-current based on the timing of when performance obligations will be satisfied and associated revenue is expected to be recognized.

Contract balances at the end of each reporting period were as follows:


	January 29, 2023		October 30, 2022
	(In millions)

Contract assets	$	155	$	173
Contract liabilities	$	3,082	$	3,142

The decrease in contract assets during the three months ended January 29, 2023 was primarily due to a reduction in payments that were conditional upon technical sign off.

During the three months ended January 29, 2023, we recognized revenue of approximately $1.6 billion related to contract liabilities at October 30, 2022. Contract liabilities decreased during the three months ended January 29, 2023 due to revenue recognized related to contract liabilities at October 30, 2022, partially offset by new billings for products and services for which there were unsatisfied performance obligations to customers and revenue had not yet been recognized as of January 29, 2023.

There were no credit losses recognized on our accounts receivables and contract assets during both the three months ended January 29, 2023 and January 30, 2022.

As of January 29, 2023, the amount of remaining unsatisfied performance obligations on contracts with an original estimated duration of one year or more was approximately $4.2 billion, of which approximately 45% is expected to be recognized within 12 months and the remainder is expected to be recognized within the following 24 months thereafter.

We have elected the available practical expedient to exclude the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Balance Sheet Detail

3 Months Ended

Jan. 29, 2023

Balance Sheet Detail [Abstract]

Balance Sheet Detail


	January 29, 2023		October 30, 2022

	(In millions)
Inventories
Customer service spares	$	1,498	$	1,409
Raw materials	1,829		1,807
Work-in-process	1,094		1,029
Finished goods
Deferred cost of sales	697		704
Evaluation inventory	408		422
Manufactured on-hand inventory	528		561
Total finished goods	1,633		1,687

Total inventories	$	6,054	$	5,932


	January 29, 2023		October 30, 2022

	(In millions)
Other Current Assets


Prepaid income taxes and income taxes receivable	$	462	$	461
Prepaid expenses and other	767		883
	$	1,229	$	1,344


	Useful Life	January 29, 2023		October 30, 2022

	(In years)	(In millions)
Property, Plant and Equipment, Net
Land and improvements		$	387	$	387
Buildings and improvements	3-30	2,063		2,027
Demonstration and manufacturing equipment	3-5	2,141		2,083
Furniture, fixtures and other equipment	3-5	745		743
Construction in progress		579		389
Gross property, plant and equipment		5,915		5,629
Accumulated depreciation		(3,421)		(3,322)
		$	2,494	$	2,307


	January 29, 2023		October 30, 2022

	(In millions)
Deferred Income Taxes and Other Assets
Non-current deferred income taxes	$	1,522	$	1,395
Operating lease right-of-use assets	390		389
Finance lease right-of-use assets	94		—
Income tax receivables and other assets	606		691
	$	2,612	$	2,475


	January 29, 2023		October 30, 2022

	(In millions)
Accounts Payable and Accrued Expenses
Accounts payable	$	1,611	$	1,755

Compensation and employee benefits	564		905

Warranty	302		286
Dividends payable	220		220
Income taxes payable	517		319

Other accrued taxes	28		30
Interest payable	55		39

Operating lease liabilities, current	89		85

Other	583		598
	$	3,969	$	4,237


	January 29, 2023		October 30, 2022

	(In millions)
Other Liabilities


Defined and postretirement benefit plans	$	117	$	107
Operating lease liabilities, non-current	287		287
Finance lease liabilities, non-current	85		—
Other	367		338
	$	856	$	732

Goodwill and Intangible Assets

3 Months Ended

Jan. 29, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and intangible assets with indefinite useful lives are not amortized but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable.

Goodwill

As of January 29, 2023, our reporting units include Semiconductor Products Group and Imaging and Process Control Group, Applied Global Services, Display and Adjacent Markets and other reporting units recorded under Corporate and Other.

Details of goodwill as of January 29, 2023 and October 30, 2022 were as follows:


	January 29, 2023		October 30, 2022

	(In millions)
Goodwill by reportable segment
Semiconductor Systems	$	2,446	$	2,428
Applied Global Services	1,032		1,032
Display and Adjacent Markets	199		199
Corporate and Other	41		41
	$	3,718	$	3,700

The Semiconductor Products Group and Imaging and Process Control Group combine to form the Semiconductor Systems reporting segment.

From time to time, we acquire companies related to our existing or new markets. During the first three months of fiscal 2023, goodwill increased primarily due to the preliminary purchase accounting for an acquisition during the first quarter of fiscal 2023, which was not material to our results of operations or to our balance sheet.

Intangible Assets

Details of intangible assets other than goodwill were as follows:


	January 29, 2023						October 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

	(In millions)
Intangible assets with finite lives:
Semiconductor Systems	$	1,989	$	(1,685)	$	304	$	1,985	$	(1,675)	$	310
Applied Global Services	79		(77)		2		79		(77)		2
Display and Adjacent Markets	194		(194)		—		194		(194)		—
Corporate and Other	36		(27)		9		36		(26)		10
Total intangible assets with finite lives	$	2,298	$	(1,983)	$	315	$	2,294	$	(1,972)	$	322
Intangible assets with indefinite lives:
Semiconductor Systems	$	16	$	—	$	16	$	16	$	—	$	16
Applied Global Services	—		—		—		—		—		—
Display and Adjacent Markets	—		—		—		—		—		—
Corporate and Other	1		—		1		1		—		1
Total intangible assets with indefinite lives	$	17	$	—	$	17	$	17	$	—	$	17

Total intangible assets	$	2,315	$	(1,983)	$	332	$	2,311	$	(1,972)	$	339

The increase in intangible assets during the first three months of fiscal 2023 was primarily due to the preliminary purchase accounting for an acquisition during the first quarter of fiscal 2023, which was not material to our results of operations.

Intangible assets with indefinite lives that are not subject to amortization consist primarily of in-process technology, which will be subject to amortization upon commercialization. If an in-process technology project is abandoned, the acquired technology attributable to the project will be written-off.

Amortization expense of intangible assets were $11 million and $10 million during the three months ended January 29, 2023 and January 30, 2022, respectively.

As of January 29, 2023, future estimated amortization expense of intangible assets with finite lives is expected to be as follows:


	Amortization Expense
	(In millions)
2023 (remaining 9 months)	$	31
2024	39
2025	38
2026	37
2027	24
Thereafter	146
Total	$	315

Borrowing Facilities and Debt

3 Months Ended

Jan. 29, 2023

Debt Disclosure [Abstract]

Borrowing Facilities and Debt

Revolving Credit Facilities

In February 2020, we entered into a five-year $1.5 billion committed unsecured revolving credit agreement (Revolving Credit Agreement) with a group of banks. The Revolving Credit Agreement includes a provision under which we may request an increase in the amount of the facility of up to $500 million for a total commitment of no more than $2.0 billion, subject to the receipt of commitments from one or more lenders for any such increase and other customary conditions. Subsequent to the end of our first quarter of fiscal 2023, we entered into an agreement with our lenders to extend the termination date of the Revolving Credit Agreement from February 2025 to February 2026. The termination date may be further extended as permitted under the Revolving Credit Agreement. The Revolving Credit Agreement provides for borrowings that bear interest for each advance at one of two rates selected by us, plus an applicable margin, which varies according to our public debt credit ratings.

No amounts were outstanding under the Revolving Credit Agreement as of January 29, 2023 and October 30, 2022.

In addition, we have revolving credit facilities with Japanese banks pursuant to which we may borrow up to approximately $62 million in aggregate at any time. Our ability to borrow under these facilities is subject to bank approval at the time of the borrowing request, and any advances will be at rates indexed to the banks’ prime reference rate denominated in Japanese yen. As of January 29, 2023 and October 30, 2022, no amounts were outstanding under these revolving credit facilities.

Short-term Commercial Paper

We have a short-term commercial paper program under which we may issue unsecured commercial paper notes of up to a total amount of $1.5 billion. The proceeds from the issuances of the commercial paper program are used for general corporate purposes. As of January 29, 2023, we had commercial paper notes outstanding with an aggregate principal amount of $200 million, which were recorded as short-term debt with a weighted-average interest rate of 4.48% and maturities ranging from 55 days to 63 days. We did not have any commercial paper notes outstanding as of October 30, 2022.

Senior Unsecured Notes

Debt outstanding as of January 29, 2023 and October 30, 2022 was as follows:


	Principal Amount
	January 29, 2023		October 30, 2022		Effective Interest Rate	Interest Pay Dates

	(In millions)





Long-term debt:



3.900% Senior Notes Due 2025	$	700	$	700	3.944%	April 1, October 1
3.300% Senior Notes Due 2027	1,200		1,200		3.342%	April 1, October 1
1.750% Senior Notes Due 2030	750		750		1.792%	June 1, December 1
5.100% Senior Notes Due 2035	500		500		5.127%	April 1, October 1
5.850% Senior Notes Due 2041	600		600		5.879%	June 15, December 15
4.350% Senior Notes Due 2047	1,000		1,000		4.361%	April 1, October 1
2.750% Senior Notes Due 2050	750		750		2.773%	June 1, December 1
	5,500		5,500
Total unamortized discount	(12)		(12)
Total unamortized debt issuance costs	(30)		(31)



Total long-term debt	$	5,458	$	5,457

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Name Accounting Standards Codification
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+ Details

Leases

3 Months Ended

Jan. 29, 2023

Leases [Abstract]

Leases

A contract contains a lease when we have the right to control the use of an identified asset for a period of time in exchange for consideration. A majority of our lease arrangements are operating leases. We also have certain leases that qualify as finance leases. We lease certain facilities, vehicles and equipment under non-cancelable operating leases, many of which include options to renew. Options that are reasonably certain to be exercised are included in the calculation of the right-of-use asset and lease liability. Our finance leases are those that contain a purchase option which we are reasonably certain to exercise at the end of the lease term. Our leases do not contain residual value guarantees or significant restrictions that impact the accounting for leases. As implicit rates are not available for the leases, we use the incremental borrowing rate as of the lease commencement date in order to measure the right-of-use asset and liability. Operating lease expense is generally recognized on a straight-line basis over the lease term. Finance lease expense is generally recognized on a straight-line basis over the life of the underlying leased asset.

We elected the practical expedient to account for lease and non-lease components as a single lease component for all leases. For leases with a term of one year or less, we elected not to record a right-of-use asset or lease liability and to account for the associated lease payments as they become due.

The components of lease expense and supplemental information were as follows:


	Three Months Ended
		January 29, 2023		January 30, 2022
		(In millions, except percentages)
Operating lease cost		$	26	$	21



Weighted-average remaining lease term (in years) - operating leases		6.2		4.9
Weighted-average remaining lease term (in years) - finance leases		1.7		n/a
Weighted-average discount rate - operating leases		2.6%		1.8%
Weighted-average discount rate - finance leases		4.6%		n/a

Supplemental cash flow information related to leases are as follows:


	Three Months Ended
		January 29, 2023		January 30, 2022
		(In millions)
Operating cash flows paid for operating leases		$	26	$	21

Financing cash flows paid for finance leases		$	10	$	—
Right-of-use assets obtained in exchange for operating lease liabilities		$	25	$	21
Right-of-use assets obtained in exchange for finance lease liabilities		$	94	$	—

As of January 29, 2023, the maturities of lease liabilities are as follows:


	Operating Leases		Finance Leases
Fiscal	(In millions)
2023 (remaining 9 months)	$	74	1
2024	90		91
2025	69		—
2026	38		—
2027	29		—
Thereafter	114		—
Total lease payments	$	414	$	92
Less imputed interest	(38)		(7)
Total	$	376	$	85

Leases

The components of lease expense and supplemental information were as follows:


	Three Months Ended
		January 29, 2023		January 30, 2022
		(In millions, except percentages)
Operating lease cost		$	26	$	21



Weighted-average remaining lease term (in years) - operating leases		6.2		4.9
Weighted-average remaining lease term (in years) - finance leases		1.7		n/a
Weighted-average discount rate - operating leases		2.6%		1.8%
Weighted-average discount rate - finance leases		4.6%		n/a

Supplemental cash flow information related to leases are as follows:


	Three Months Ended
		January 29, 2023		January 30, 2022
		(In millions)
Operating cash flows paid for operating leases		$	26	$	21

Financing cash flows paid for finance leases		$	10	$	—
Right-of-use assets obtained in exchange for operating lease liabilities		$	25	$	21
Right-of-use assets obtained in exchange for finance lease liabilities		$	94	$	—

As of January 29, 2023, the maturities of lease liabilities are as follows:


	Operating Leases		Finance Leases
Fiscal	(In millions)
2023 (remaining 9 months)	$	74	1
2024	90		91
2025	69		—
2026	38		—
2027	29		—
Thereafter	114		—
Total lease payments	$	414	$	92
Less imputed interest	(38)		(7)
Total	$	376	$	85

Stockholders' Equity, Comprehensive Income and Share-Based Compensation

3 Months Ended

Jan. 29, 2023

Equity [Abstract]

Stockholders' Equity, Comprehensive Income and Share-Based Compensation

Stockholders’ Equity, Comprehensive Income and Share-Based Compensation

Accumulated Other Comprehensive Income (Loss)

Changes in the components of accumulated other comprehensive income (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 30, 2022	$	(75)	$	(52)	$	(88)	$	13	$	(202)


Other comprehensive income (loss) before reclassifications	17		(38)		—		—		(21)
Amounts reclassified out of AOCI	6		(18)		—		—		(12)
Other comprehensive income (loss), net of tax	23		(56)		—		—		(33)

Balance as of January 29, 2023	$	(52)	$	(108)	$	(88)	$	13	$	(235)


	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 31, 2021	$	(1)	$	(103)	$	(169)	$	13	$	(260)


Other comprehensive income (loss) before reclassifications	(12)		4		—		—		(8)
Amounts reclassified out of AOCI	(3)		(7)		—		—		(10)
Other comprehensive income (loss), net of tax	(15)		(3)		—		—		(18)

Balance as of January 30, 2022	$	(16)	$	(106)	$	(169)	$	13	$	(278)

The tax effects on net income of amounts reclassified from AOCI for the three months ended January 29, 2023 and January 30, 2022 were not material.

Stock Repurchase Program

In March 2022, our Board of Directors approved a common stock repurchase program authorizing $6.0 billion in repurchases. As of January 29, 2023, approximately $4.7 billion remained available for future stock repurchases under the repurchase program.

The following table summarizes our stock repurchases for the three months ended January 29, 2023 and January 30, 2022:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(in millions, except per share amount)
Shares of common stock repurchased	2		12
Cost of stock repurchased	$	250	$	1,803
Average price paid per share	$	103.37	$	145.85

We record treasury stock purchases under the cost method using the first-in, first-out (FIFO) method. Upon reissuance of treasury stock, amounts in excess of the acquisition cost are credited to additional paid in capital. If we reissue treasury stock at an amount below our acquisition cost and additional paid in capital associated with prior treasury stock transactions is insufficient to cover the difference between the acquisition cost and the reissue price, this difference is recorded against retained earnings.

Dividends

In December 2022, our Board of Directors declared a quarterly cash dividend payable in March 2023, in the amount of $0.26 per share. Dividends paid during the three months ended January 29, 2023 and January 30, 2022 totaled $220 million and $214 million, respectively. We currently anticipate that cash dividends will continue to be paid on a quarterly basis, although the declaration of any future cash dividend is at the discretion of the Board of Directors and will depend on our financial condition, results of operations, capital requirements, business conditions and other factors, as well as a determination by the Board of Directors that cash dividends are in the best interests of our stockholders.

Share-Based Compensation

We have a stockholder-approved equity plan, the Employee Stock Incentive Plan (ESIP), which permits grants to employees of share-based awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance share units and performance units. In addition, the plan provides for the automatic grant of restricted stock units to non-employee directors and permits the grant of share-based awards to non-employee directors and consultants. Share-based awards made under the plan may be subject to accelerated vesting under certain circumstances in the event of a change in control. In addition, we have an Omnibus Employees’ Stock Purchase Plan (ESPP), which enables eligible employees to purchase our common stock.

During the three months ended January 29, 2023 and January 30, 2022, we recognized share-based compensation expense related to equity awards and ESPP shares. The effect of share-based compensation on the results of operations was as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions)
Cost of products sold	$	54	$	42
Research, development and engineering	54		43
Marketing and selling	17		14
General and administrative	23		19

Total share-based compensation	$	148	$	118

The cost associated with share-based awards is recognized over the awards’ service period for the entire award on a straight-line basis, adjusting for estimated forfeitures. We calculate estimated forfeiture rate on an annual basis, based on historical forfeiture activities. Share-based awards granted to certain members of senior management allow for partial accelerated vesting in the event of a qualifying retirement based on age and years of service. The cost associated with performance-based equity awards, which include performance and/or market goals, is recognized for each tranche over the service period. The cost of the portion of performance-based equity awards subject to performance goals is recognized based on an assessment of the likelihood that the applicable performance goals will be achieved, and the cost of the portion of performance-based equity awards subject to market goals is recognized based on the assumption of 100% achievement of the goal.

As of January 29, 2023, we had $1.0 billion in total unrecognized compensation expense, net of estimated forfeitures, related to grants of share-based awards and shares issued under the ESPP, which will be recognized over a weighted average period of 3.1 years. As of January 29, 2023, there were 26 million shares available for grant of share-based awards under the ESIP, and an additional 14 million shares available for issuance under the ESPP.

Restricted Stock Units, Restricted Stock, Performance Share Units 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 three months ended January 29, 2023 is presented below:


	Shares	Weighted Average Grant Date Fair Value

	(In millions, except per share amounts)
Outstanding as of October 30, 2022	11	$	92.31
Granted	5	$	102.84
Vested	(4)	$	70.61
Canceled	—	$	107.71
Outstanding as of January 29, 2023	12	$	103.81

As of January 29, 2023, 0.8 million additional performance-based awards could be earned based upon achievement of certain levels of specified performance and/or market goals.

During the first quarter of fiscal 2023, certain members of senior management were granted awards that are subject to the achievement of targeted levels of adjusted operating margin and targeted levels of total shareholder return (TSR) relative to the TSR of the companies in the Standard & Poor's 500 Index. Each of these two metrics will be weighted 50% and will be measured over a three-year period.

The awards become eligible to vest only if the goals are achieved and will vest only if the grantee remains employed by us through each applicable vesting date, subject to a qualifying retirement based on age and years of service. The number of shares that may vest in full after three years ranges from 0% to 200% of the target amount. The awards provide for a partial payout based on actual performance at the conclusion of the three-year performance period in the event of a qualifying retirement.

The fair value of the portion of the awards subject to targeted levels of adjusted operating margin is estimated on the date of grant. If the performance goals are not met as of the end of the performance period, no compensation expense is recognized and any previously recognized compensation expense is reversed. The expected cost is based on the portion of the awards that is probable to vest and is reflected over the service period and reduced for estimated forfeitures.

The fair value of the portion of the awards subject to targeted levels of relative TSR is estimated on the date of grant using a Monte Carlo simulation model. Compensation expense is recognized based upon the assumption of 100% achievement of the TSR goal and will not be reversed even if the threshold level of TSR is never achieved, and is reflected over the service period and reduced for estimated forfeitures.

Employee Stock Purchase Plans

Under the ESPP, substantially all employees may purchase our common stock through payroll deductions at a price equal to 85 percent of the lower of the fair market value of our common stock at the beginning or end of each 6-month purchase period, subject to certain limits. Our purchasing cycles begin in March and September of each of fiscal year. There were no purchases under our ESPP during either of the three months ended January 29, 2023 or January 30, 2022. Compensation expense is calculated using the fair value of the employees’ purchase rights under the Black-Scholes model.

Income Taxes	3 Months Ended
Income Taxes	Jan. 29, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our provision for income taxes and effective tax rate are affected by the geographical composition of pre-tax income which includes jurisdictions with differing tax rates, conditional reduced tax rates and other income tax incentives. It is also affected by events that vary from period to period, such as changes in income tax laws and the resolution of prior years’ income tax filings. Our effective tax rates for the first quarter of fiscal 2023 and 2022 were 12.4 percent and 6.9 percent, respectively. The effective tax rate for the first quarter of fiscal 2023 was higher than the same period in the prior fiscal year primarily due to the settlement of uncertain tax positions and larger excess tax benefits from share-based compensation during the first quarter of fiscal 2022 relative to the first quarter of fiscal 2023.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Warranty, Guarantees, Commitments and Contingencies

3 Months Ended

Jan. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Warranty, Guarantees, Commitments and Contingencies

Warranty

Changes in the warranty reserves are presented below:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions)
Beginning balance	$	286	$	242
Warranties issued	62		65
Change in reserves related to preexisting warranty	4		3
Consumption of reserves	(50)		(56)
Ending balance	$	302	$	254

Our products are generally sold with a warranty for a 12-month period following installation. The provision for the estimated cost of warranty is recorded when revenue is recognized. Parts and labor are covered under the terms of the warranty agreement. The warranty provision is based on historical experience by product, configuration and geographic region. Quarterly warranty consumption is generally associated with sales that occurred during the preceding four quarters, and quarterly warranty provisions are generally related to the current quarter’s sales.

Guarantees

In the ordinary course of business, we provide standby letters of credit or other guarantee instruments to third parties as required for certain transactions initiated by either us or our subsidiaries. As of January 29, 2023, the maximum potential amount of future payments that we could be required to make under these guarantee agreements was approximately $614 million. We have not recorded any liability in connection with these guarantee agreements beyond that required to appropriately account for the underlying transaction being guaranteed. We do not believe, based on historical experience and information currently available, that it is probable that any amounts will be required to be paid under these guarantee agreements.

We also have agreements with various banks to facilitate subsidiary banking operations worldwide, including overdraft arrangements, issuance of bank guarantees, and letters of credit. As of January 29, 2023, we have provided parent guarantees to banks for approximately $300 million to cover these arrangements.

Legal Matters

From time to time, we receive notification from third parties, including customers and suppliers, seeking indemnification, litigation support, payment of money or other actions by us in connection with claims made against them. In addition, from time to time, we receive notification from third parties claiming that we may be or are infringing or misusing their intellectual property or other rights. We also are subject to various other legal proceedings, regulatory investigations or inquires, and claims, both asserted and unasserted, that arise in the ordinary course of business.

In August 2022, we received a subpoena from the U.S. Attorney’s Office for the District of Massachusetts requesting information relating to certain China customer shipments. We are cooperating fully with the government. These inquiries are subject to uncertainties, and we cannot predict the outcome of this inquiry, or any other governmental inquires or proceedings that may occur.

Although the outcome of the above-described matters, claims and proceedings cannot be predicted with certainty, we do not believe at this time that any will have a material effect on our consolidated financial condition or results of operations.

Industry Segment Operations

3 Months Ended

Jan. 29, 2023

Segment Reporting [Abstract]

Industry Segment Operations

Our three reportable segments are: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. As defined under the accounting literature, our chief operating decision-maker has been identified as the President and Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. Segment information is presented based upon our management organization structure as of January 29, 2023 and the distinctive nature of each segment. Future changes to this internal financial structure may result in changes to our reportable segments.

The Semiconductor Systems reportable segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity, including spares, upgrades, services, certain remanufactured earlier generation equipment and factory automation software for semiconductor, display and other products.

The Display and Adjacent Markets segment includes products for manufacturing liquid crystal displays (LCDs), organic light-emitting diodes (OLEDs), equipment upgrades and other display technologies for TVs, monitors, laptops, personal computers, smart phones, other consumer-oriented devices and solar energy cells.

Each operating segment is separately managed and has separate financial results that are reviewed by our chief operating decision-maker. Each reportable segment contains closely related products that are unique to the particular segment. Segment operating income is determined based upon internal performance measures used by our chief operating decision-maker. The chief operating decision-maker does not evaluate operating segments using total asset information.

We derive the segment results directly from our internal management reporting system. The accounting policies we use to derive reportable segment results are substantially the same as those used for external reporting purposes. Management measures the performance of each reportable segment based upon several metrics including orders, net sales and operating income. Management uses these results to evaluate the performance of, and to assign resources to, each of the reportable segments.

The Corporate and Other category includes revenues from products, as well as costs of products sold, for fabricating solar photovoltaic cells and modules, and certain operating expenses that are not allocated to our reportable segments and are managed separately at the corporate level. These operating expenses include costs related to share-based compensation; certain management, finance, legal, human resources, and research, development and engineering functions provided at the corporate level; and unabsorbed information technology and occupancy. In addition, we do not allocate to our reportable segments restructuring, severance and asset impairment charges and any associated adjustments related to restructuring actions, unless these actions pertain to a specific reportable segment. Segment operating income also excludes interest income/expense and other financial charges and income taxes. Management does not consider the unallocated costs in measuring the performance of the reportable segments.

Net sales and operating income (loss) for each reportable segment were as follows:


	Three Months Ended
	Net Sales		Operating Income (Loss)

	(In millions)
January 29, 2023:
Semiconductor Systems	$	5,162	$	1,917
Applied Global Services	1,369		383
Display and Adjacent Markets	167		8
Corporate and Other	41		(338)
Total	$	6,739	$	1,970
January 30, 2022:
Semiconductor Systems	$	4,567	$	1,771
Applied Global Services	1,320		403
Display and Adjacent Markets	366		76
Corporate and Other	18		(274)
Total	$	6,271	$	1,976

Semiconductor Systems and Display and Adjacent Markets revenues are recognized at a point in time. Applied Global Services revenue is recognized at a point in time for tangible goods such as spare parts and equipment, and over time for service agreements. The majority of revenue recognized over time is recognized within 12 months of the contract inception.

Net sales by geographic region, determined by the location of customers’ facilities to which products were shipped to, were as follows:


	Three Months Ended
	January 29, 2023				January 30, 2022				Change

	(In millions, except percentages)
China	$	1,145	17	%	$	1,987	32	%	(42)	%
Korea	1,293		19	%	1,121		18	%	15	%
Taiwan	1,968		29	%	1,249		20	%	58	%
Japan	456		7	%	561		9	%	(19)	%
Southeast Asia	253		4	%	225		3	%	12	%
Asia Pacific	5,115		76	%	5,143		82	%	(1)	%
United States	1,051		16	%	847		14	%	24	%
Europe	573		8	%	281		4	%	104	%
Total	$	6,739	100	%	$	6,271	100	%	7	%

Net sales for Semiconductor Systems by end use application for the periods indicated were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022
Foundry, logic and other	77	%	60	%
Dynamic random-access memory (DRAM)	13	%	25	%
Flash memory	10	%	15	%

	100	%	100	%

The reconciling items included in Corporate and Other were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions)
Unallocated net sales	$	41	$	18
Unallocated cost of products sold and expenses	(231)		(178)
Share-based compensation	(148)		(118)


Severance and related charges	—		4

Total	$	(338)	$	(274)

The following customers accounted for at least 10 percent of our net sales for the three months ended January 29, 2023, and sales to these customers included products and services from multiple reportable segments.


	Percentage of Net Sales
Taiwan Semiconductor Manufacturing Company Limited	27	%
Samsung Electronics Co., Ltd.	15	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 31
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 21
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Jan. 29, 2023
Accounting Policies [Abstract]
Basis of Presentation	In the opinion of our management, the unaudited interim consolidated condensed financial statements of Applied Materials, Inc. and its subsidiaries (we, us, and our) included herein have been prepared on a basis consistent with the October 30, 2022 audited consolidated financial statements and include all material adjustments, consisting of normal recurring adjustments, necessary to fairly state the information set forth therein. These unaudited interim consolidated condensed financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended October 30, 2022 (2022 Form 10-K). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make judgments, estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Our results of operations for the three months ended January 29, 2023 are not necessarily indicative of future operating results. Our fiscal year ends on the last Sunday in October of each year. Fiscal 2023 and 2022 contain 52 weeks each and the first three months of fiscal 2023 and 2022 each contained 13 weeks.
Recent Accounting Pronouncements	Accounting Standards Not Yet Adopted Disclosures by Business Entities about Government Assistance. In November 2021, the Financial Accounting Standard Board (FASB) issued an accounting standard update which requires annual disclosures related to certain government assistance received by business entities (Topic 832) including (1) the types of assistance, (2) the entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. This authoritative guidance is effective for us in our fiscal 2023 Form 10-K. The adoption of this authoritative guidance is not expected to have a significant impact to our financial results and only impacts the disclosures in our notes to consolidated financial statements. Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. In June 2022, the FASB issued an accounting standard update which clarifies how the fair value of equity securities subject to contractual sale restrictions is determined (Topic 820). The amendment clarifies that a contractual sale restriction should not be considered in measuring fair value. It also requires certain qualitative and quantitative disclosures related to equity securities subject to contractual sale restrictions. This authoritative guidance will be effective for us in the first quarter of fiscal 2025, with early adoption permitted. We are currently evaluating the effect of this new guidance on our consolidated condensed financial statements. Contract Assets and Contract Liabilities from Revenue Contracts with Customers in a Business Combination. In October 2021, the FASB issued an accounting standard update to improve the accounting for contract assets and contract liabilities from revenue contracts with customers in a business combination (Topic 805). This amendment improves comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. This authoritative guidance will be effective for us in the first quarter of fiscal 2024, with early adoption permitted. We are currently evaluating the effect of this new guidance on our consolidated condensed financial statements.
Revenue Recognition from Contracts with Customers	Contract Balances Contract assets primarily result from receivables for goods transferred to customers where payment is conditional upon technical sign off and not just the passage of time. Contract liabilities consist of unsatisfied performance obligations related to advance payments received and billings in excess of revenue recognized. Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. Contract assets are generally classified as current and are included in Other Current Assets in the Consolidated Condensed Balance Sheets. Contract liabilities are classified as current or non-current based on the timing of when performance obligations will be satisfied and associated revenue is expected to be recognized.
Fair Value Measurement	Our financial assets are measured and recorded at fair value on a recurring basis, except for equity investments in privately-held companies. These equity investments are generally accounted for under the measurement alternative, defined as cost, less impairments, adjusted for subsequent observable price changes and are periodically assessed for impairment when events or circumstances indicate that a decline in value may have occurred. Our nonfinancial assets, such as goodwill, intangible assets, and property, plant and equipment, are recorded at cost and are assessed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Fair Value Hierarchy We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: •Level 1 — Quoted prices in active markets for identical assets or liabilities; •Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and •Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Our investments consist primarily of debt securities that are classified as available-for-sale and recorded at their fair values. In determining the fair value of investments, we use pricing information from pricing services that value securities based on quoted market prices and models that utilize observable market inputs. In the event a fair value estimate is unavailable from a pricing service, we generally obtain non-binding price quotes from brokers. In addition, to validate pricing information obtained from pricing services, we periodically perform supplemental analysis on a sample of securities. We review any significant unanticipated differences identified through this analysis to determine the appropriate fair value. As of January 29, 2023, substantially all of our available-for-sale, short-term and long-term investments were recognized at fair value that was determined based upon observable inputs. Our equity investments with readily determinable values consist of publicly traded equity securities. These investments are measured at fair value using quoted prices for identical assets in an active market and the changes in fair value of these equity investments are recognized in the consolidated statements of operations. Investments with remaining effective maturities of 12 months or less from the balance sheet date are classified as short-term investments. Investments with remaining effective maturities of more than 12 months from the balance sheet date are classified as long-term investments.
Assets and Liabilities without Readily Determinable Values Measured on a Non-recurring Basis	Assets and Liabilities without Readily Determinable Values Measured on a Non-recurring Basis Our equity investments without readily determinable values consist of equity investments in privately-held companies. We elected the measurement alternative, defined as cost, less impairments, adjusted for subsequent observable price changes on a prospective basis for certain equity investments without readily determinable fair values and is required to account for any subsequent observable changes in fair value within the statements of operations. These investments are classified as Level 3 within the fair value hierarchy and periodically assessed for impairment when an event or circumstance indicates that a decline in value may have occurred. Impairment charges on equity investments in privately-held companies during the three months ended January 29, 2023 and January 30, 2022 were not material.
Derivatives	We do not use derivative financial instruments for trading or speculative purposes. Derivative instruments and hedging activities, including foreign exchange and interest rate contracts, are recognized on the balance sheet at fair value. Changes in the fair value of derivatives that do not qualify for hedge accounting treatment are recognized currently in earnings. All of our derivative financial instruments are recorded at their fair value in other current assets or in accounts payable and accrued expenses. Hedges related to anticipated transactions are designated and documented at the inception of the hedge as cash flow hedges and foreign exchange derivatives are typically entered into once per month. Cash flow hedges are evaluated for effectiveness quarterly. The effective portion of the gain or loss on these hedges is reported as a component of AOCI in stockholders’ equity and is reclassified into earnings when the hedged transaction affects earnings. The majority of the after-tax net income or loss related to foreign exchange derivative instruments included in AOCI as of January 29, 2023 is expected to be reclassified into earnings within 12 months. Changes in fair value caused by changes in time value of option contracts designated as cash flow hedges are excluded from the assessment of effectiveness. The initial value of this excluded component is amortized on a straight-line basis over the life of the hedging instrument and recognized in the financial statement line item to which the hedge relates. If the transaction being hedged is probable not to occur, we promptly recognize the gain or loss on the associated financial instrument in the consolidated condensed statement of operations.
Goodwill and Purchased Intangible Assets	Goodwill and intangible assets with indefinite useful lives are not amortized but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Goodwill As of January 29, 2023, our reporting units include Semiconductor Products Group and Imaging and Process Control Group, Applied Global Services, Display and Adjacent Markets and other reporting units recorded under Corporate and Other.
Finite-Lived Purchased Intangible Assets	The increase in intangible assets during the first three months of fiscal 2023 was primarily due to the preliminary purchase accounting for an acquisition during the first quarter of fiscal 2023, which was not material to our results of operations. Intangible assets with indefinite lives that are not subject to amortization consist primarily of in-process technology, which will be subject to amortization upon commercialization. If an in-process technology project is abandoned, the acquired technology attributable to the project will be written-off.
Treasury Stock	We record treasury stock purchases under the cost method using the first-in, first-out (FIFO) method. Upon reissuance of treasury stock, amounts in excess of the acquisition cost are credited to additional paid in capital. If we reissue treasury stock at an amount below our acquisition cost and additional paid in capital associated with prior treasury stock transactions is insufficient to cover the difference between the acquisition cost and the reissue price, this difference is recorded against retained earnings.
Share-based Compensation	100% achievement of the goal.Compensation expense is calculated using the fair value of the employees’ purchase rights under the Black-Scholes model.
Performance Based Awards	During the first quarter of fiscal 2023, certain members of senior management were granted awards that are subject to the achievement of targeted levels of adjusted operating margin and targeted levels of total shareholder return (TSR) relative to the TSR of the companies in the Standard & Poor's 500 Index. Each of these two metrics will be weighted 50% and will be measured over a three-year period. The awards become eligible to vest only if the goals are achieved and will vest only if the grantee remains employed by us through each applicable vesting date, subject to a qualifying retirement based on age and years of service. The number of shares that may vest in full after three years ranges from 0% to 200% of the target amount. The awards provide for a partial payout based on actual performance at the conclusion of the three-year performance period in the event of a qualifying retirement. The fair value of the portion of the awards subject to targeted levels of adjusted operating margin is estimated on the date of grant. If the performance goals are not met as of the end of the performance period, no compensation expense is recognized and any previously recognized compensation expense is reversed. The expected cost is based on the portion of the awards that is probable to vest and is reflected over the service period and reduced for estimated forfeitures. The fair value of the portion of the awards subject to targeted levels of relative TSR is estimated on the date of grant using a Monte Carlo simulation model. Compensation expense is recognized based upon the assumption of 100% achievement of the TSR goal and will not be reversed even if the threshold level of TSR is never achieved, and is reflected over the service period and reduced for estimated forfeitures.
Warranty	Our products are generally sold with a warranty for a 12-month period following installation. The provision for the estimated cost of warranty is recorded when revenue is recognized. Parts and labor are covered under the terms of the warranty agreement. The warranty provision is based on historical experience by product, configuration and geographic region. Quarterly warranty consumption is generally associated with sales that occurred during the preceding four quarters, and quarterly warranty provisions are generally related to the current quarter’s sales.

Earnings Per Share (Tables)

3 Months Ended

Jan. 29, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions, except per share amounts)
Numerator:
Net income	$	1,717	$	1,792
Denominator:
Weighted average common shares outstanding	845		889
Effect of weighted dilutive restricted stock units and employee stock purchase plan shares	4		8
Denominator for diluted earnings per share	849		897
Basic earnings per share	$	2.03	$	2.02
Diluted earnings per share	$	2.02	$	2.00
Potentially weighted dilutive securities	2		—

Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Jan. 29, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents and Investments

The following tables summarize our cash, cash equivalents and investments by security type:


January 29, 2023	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(In millions)
Cash	$	1,225	$	—	$	—	$	1,225
Cash equivalents:
Money market funds	1,412		—		—		1,412
Bank certificates of deposit and time deposits	80		—		—		80


Municipal securities	10		—		—		10
Commercial paper, corporate bonds and medium-term notes	820		—		—		820

Total Cash equivalents	2,322		—		—		2,322
Total Cash and Cash equivalents	$	3,547	$	—	$	—	$	3,547
Short-term and long-term investments:
Bank certificates of deposit and time deposits	$	7	$	—	$	—	$	7
U.S. Treasury and agency securities	444		—		9		435
Non-U.S. government securities*	7		—		1		6
Municipal securities	372		1		10		363
Commercial paper, corporate bonds and medium-term notes	579		1		15		565
Asset-backed and mortgage-backed securities	443		1		15		429
Total fixed income securities	1,852		3		50		1,805
Publicly traded equity securities	85		57		12		130
Equity investments in privately-held companies	573		83		3		653
Total equity investments	658		140		15		783
Total short-term and long-term investments	$	2,510	$	143	$	65	$	2,588

Total Cash, Cash equivalents and Investments	$	6,057	$	143	$	65	$	6,135

_________________________

* Includes Canadian provincial government debt.


October 30, 2022	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(In millions)
Cash	$	1,199	$	—	$	—	$	1,199
Cash equivalents:
Money market funds	660		—		—		660
U.S. Treasury and agency securities	4		—		—		4

Municipal securities	13		—		—		13
Commercial paper, corporate bonds and medium-term notes	119		—		—		119
Total Cash equivalents	796		—		—		796
Total Cash and Cash equivalents	$	1,995	$	—	$	—	$	1,995
Short-term and long-term investments:
Bank certificates of deposit	$	7	$	—	$	—	$	7
U.S. Treasury and agency securities	435		—		13		422
Non-U.S. government securities*	7		—		1		6
Municipal securities	389		—		16		373
Commercial paper, corporate bonds and medium-term notes	595		—		21		574
Asset-backed and mortgage-backed securities	432		—		19		413
Total fixed income securities	1,865		—		70		1,795
Publicly traded equity securities	85		63		26		122
Equity investments in privately-held companies	567		86		4		649
Total equity investments	652		149		30		771
Total short-term and long-term investments	$	2,517	$	149	$	100	$	2,566

Total Cash, Cash equivalents and Investments	$	4,512	$	149	$	100	$	4,561

_________________________

*Includes Canadian provincial government debt.

Schedule of Contractual Maturities of Investments

The following table summarizes the contractual maturities of our investments as of January 29, 2023:


	Cost		Estimated Fair Value

	(In millions)
Due in one year or less	$	464	$	459
Due after one through five years	938		910
Due after five years	7		7
No single maturity date**	1,101		1,212
Total	$	2,510	$	2,588

_________________________

** Securities with no single maturity date include publicly-traded and privately-held equity securities and asset-backed and mortgage-backed securities.

Schedule of Components of Gain (Loss) on Equity Investment

The components of gain (loss) on equity investments for the three months ended January 29, 2023 and January 30, 2022 were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions)
Publicly traded equity securities
Unrealized gain	$	18	$	1
Unrealized loss	(16)		(8)
Realized gain on sales	—		2
Realized loss on sales	(1)		—
Equity investments in privately-held companies
Unrealized gain	4		12
Unrealized loss	(2)		—
Realized gain on sales	5		—
Realized loss on sales or impairment	—		(4)
Total gain (loss) on equity investments, net	$	8	$	3

Fair Value Measurements (Tables)

3 Months Ended

Jan. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value on a Recurring Basis

Financial assets (excluding cash balances) measured at fair value on a recurring basis are summarized below:


	January 29, 2023				October 30, 2022
	Level 1		Level 2		Total		Level 1		Level 2		Total

	(In millions)
Assets:
Available-for-sale debt security investments
Money market funds*	$	1,518	$	—	$	1,518	$	765	$	—	$	765
Bank certificates of deposit and time deposits	—		87		87		—		7		7
U.S. Treasury and agency securities	394		41		435		404		22		426
Non-U.S. government securities	—		6		6		—		6		6
Municipal securities	—		373		373		—		386		386
Commercial paper, corporate bonds and medium-term notes	—		1,385		1,385		—		693		693
Asset-backed and mortgage-backed securities	—		429		429		—		413		413
Total available-for-sale debt security investments	$	1,912	$	2,321	$	4,233	$	1,169	$	1,527	$	2,696
Equity investments with readily determinable values

Publicly traded equity securities	$	130	$	—	$	130	$	122	$	—	$	122
Total equity investments with readily determinable values	$	130	$	—	$	130	$	122	$	—	$	122

Total	$	2,042	$	2,321	$	4,363	$	1,291	$	1,527	$	2,818

_________________________

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Jan. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The gain (loss) on derivatives in cash flow hedging relationships recognized in AOCI for derivatives designated as hedging instruments for the indicated periods were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022
	(In millions)
Derivatives in Cash Flow Hedging Relationships:
Foreign exchange contracts	$	(49)	$	5

Total	$	(49)	$	5

Schedule of Effect of Derivative Instruments on The Consolidated Statement of Operations

The effects of derivative instruments and hedging activities on the Consolidated Condensed Statements of Operations were as follows:


	Three Months Ended
	January 29, 2023						January 30, 2022
			Derivatives in Cash Flow Hedging Relationships						Derivatives in Cash Flow Hedging Relationships
	Total Amount Presented in the Consolidated Condensed Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations		Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations		Total Amount Presented in the Consolidated Condensed Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations		Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations
	(In millions)
Foreign Exchange Contracts:
Net Sales	$	6,739	$	25	$	—	$	6,271	$	13	$	—
Cost of products sold	$	3,594	2		—		$	3,312	(2)		—
Research, development and engineering	$	771	—		—		$	654	1		—


Interest Rate Contracts:
Interest expense	$	59	(3)		—		$	57	(3)		—
			$	24	$	—			$	9	$	—

Schedule of Derivatives Not Designated As Hedging Instruments in Statement of Operations


		Amount of Gain or (Loss) Recognized in Consolidated Condensed Statement of Operations
		Three Months Ended
	Location of Gain or (Loss) Recognized in Consolidated Condensed Statement of Operations	January 29, 2023		January 30, 2022

		(In millions)
Derivatives Not Designated as Hedging Instruments


Foreign exchange contracts	Interest and other income, net	$	(48)	$	—
Total return swaps - deferred compensation	Cost of products sold	1		(1)
Total return swaps - deferred compensation	Operating expenses	12		(7)
Total return swaps - deferred compensation	Interest and other income, net	(2)		—
Total		$	(37)	$	(8)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

Contract Balances (Tables)

3 Months Ended

Jan. 29, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

Contract balances at the end of each reporting period were as follows:


	January 29, 2023		October 30, 2022
	(In millions)

Contract assets	$	155	$	173
Contract liabilities	$	3,082	$	3,142

Balance Sheet Detail (Tables)

3 Months Ended

Jan. 29, 2023

Balance Sheet Detail [Abstract]

Schedule of Inventories


	January 29, 2023		October 30, 2022

	(In millions)
Inventories
Customer service spares	$	1,498	$	1,409
Raw materials	1,829		1,807
Work-in-process	1,094		1,029
Finished goods
Deferred cost of sales	697		704
Evaluation inventory	408		422
Manufactured on-hand inventory	528		561
Total finished goods	1,633		1,687

Total inventories	$	6,054	$	5,932

Schedule of Other Current Assets


	January 29, 2023		October 30, 2022

	(In millions)
Other Current Assets


Prepaid income taxes and income taxes receivable	$	462	$	461
Prepaid expenses and other	767		883
	$	1,229	$	1,344

Schedule of Property, Plant and Equipment, Net


	Useful Life	January 29, 2023		October 30, 2022

	(In years)	(In millions)
Property, Plant and Equipment, Net
Land and improvements		$	387	$	387
Buildings and improvements	3-30	2,063		2,027
Demonstration and manufacturing equipment	3-5	2,141		2,083
Furniture, fixtures and other equipment	3-5	745		743
Construction in progress		579		389
Gross property, plant and equipment		5,915		5,629
Accumulated depreciation		(3,421)		(3,322)
		$	2,494	$	2,307

Schedule of Deferred Income Taxes and Other Assets


	January 29, 2023		October 30, 2022

	(In millions)
Deferred Income Taxes and Other Assets
Non-current deferred income taxes	$	1,522	$	1,395
Operating lease right-of-use assets	390		389
Finance lease right-of-use assets	94		—
Income tax receivables and other assets	606		691
	$	2,612	$	2,475

Schedule of Accounts Payable and Accrued Expenses


	January 29, 2023		October 30, 2022

	(In millions)
Accounts Payable and Accrued Expenses
Accounts payable	$	1,611	$	1,755

Compensation and employee benefits	564		905

Warranty	302		286
Dividends payable	220		220
Income taxes payable	517		319

Other accrued taxes	28		30
Interest payable	55		39

Operating lease liabilities, current	89		85

Other	583		598
	$	3,969	$	4,237

Schedule of Other Liabilities


	January 29, 2023		October 30, 2022

	(In millions)
Other Liabilities


Defined and postretirement benefit plans	$	117	$	107
Operating lease liabilities, non-current	287		287
Finance lease liabilities, non-current	85		—
Other	367		338
	$	856	$	732

Goodwill and Intangible Assets (Tables)

3 Months Ended

Jan. 29, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Details of goodwill as of January 29, 2023 and October 30, 2022 were as follows:


	January 29, 2023		October 30, 2022

	(In millions)
Goodwill by reportable segment
Semiconductor Systems	$	2,446	$	2,428
Applied Global Services	1,032		1,032
Display and Adjacent Markets	199		199
Corporate and Other	41		41
	$	3,718	$	3,700

The Semiconductor Products Group and Imaging and Process Control Group combine to form the Semiconductor Systems reporting segment.

Schedule of Finite-Lived Intangible Assets

Details of intangible assets other than goodwill were as follows:


	January 29, 2023						October 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

	(In millions)
Intangible assets with finite lives:
Semiconductor Systems	$	1,989	$	(1,685)	$	304	$	1,985	$	(1,675)	$	310
Applied Global Services	79		(77)		2		79		(77)		2
Display and Adjacent Markets	194		(194)		—		194		(194)		—
Corporate and Other	36		(27)		9		36		(26)		10
Total intangible assets with finite lives	$	2,298	$	(1,983)	$	315	$	2,294	$	(1,972)	$	322
Intangible assets with indefinite lives:
Semiconductor Systems	$	16	$	—	$	16	$	16	$	—	$	16
Applied Global Services	—		—		—		—		—		—
Display and Adjacent Markets	—		—		—		—		—		—
Corporate and Other	1		—		1		1		—		1
Total intangible assets with indefinite lives	$	17	$	—	$	17	$	17	$	—	$	17

Total intangible assets	$	2,315	$	(1,983)	$	332	$	2,311	$	(1,972)	$	339

Schedule of Future Estimated Amortization Expense

As of January 29, 2023, future estimated amortization expense of intangible assets with finite lives is expected to be as follows:


	Amortization Expense
	(In millions)
2023 (remaining 9 months)	$	31
2024	39
2025	38
2026	37
2027	24
Thereafter	146
Total	$	315

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Borrowing Facilities and Debt (Tables)

3 Months Ended

Jan. 29, 2023

Debt Disclosure [Abstract]

Schedule of Debt Outstanding

Debt outstanding as of January 29, 2023 and October 30, 2022 was as follows:


	Principal Amount
	January 29, 2023		October 30, 2022		Effective Interest Rate	Interest Pay Dates

	(In millions)





Long-term debt:



3.900% Senior Notes Due 2025	$	700	$	700	3.944%	April 1, October 1
3.300% Senior Notes Due 2027	1,200		1,200		3.342%	April 1, October 1
1.750% Senior Notes Due 2030	750		750		1.792%	June 1, December 1
5.100% Senior Notes Due 2035	500		500		5.127%	April 1, October 1
5.850% Senior Notes Due 2041	600		600		5.879%	June 15, December 15
4.350% Senior Notes Due 2047	1,000		1,000		4.361%	April 1, October 1
2.750% Senior Notes Due 2050	750		750		2.773%	June 1, December 1
	5,500		5,500
Total unamortized discount	(12)		(12)
Total unamortized debt issuance costs	(30)		(31)



Total long-term debt	$	5,458	$	5,457

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Leases (Tables)

3 Months Ended

Jan. 29, 2023

Leases [Abstract]

Schedule of Lease Expense

The components of lease expense and supplemental information were as follows:


	Three Months Ended
		January 29, 2023		January 30, 2022
		(In millions, except percentages)
Operating lease cost		$	26	$	21



Weighted-average remaining lease term (in years) - operating leases		6.2		4.9
Weighted-average remaining lease term (in years) - finance leases		1.7		n/a
Weighted-average discount rate - operating leases		2.6%		1.8%
Weighted-average discount rate - finance leases		4.6%		n/a

Supplemental cash flow information related to leases are as follows:


	Three Months Ended
		January 29, 2023		January 30, 2022
		(In millions)
Operating cash flows paid for operating leases		$	26	$	21

Financing cash flows paid for finance leases		$	10	$	—
Right-of-use assets obtained in exchange for operating lease liabilities		$	25	$	21
Right-of-use assets obtained in exchange for finance lease liabilities		$	94	$	—

Schedule of Operating Lease, Maturities of Lease Liabilities

As of January 29, 2023, the maturities of lease liabilities are as follows:


	Operating Leases		Finance Leases
Fiscal	(In millions)
2023 (remaining 9 months)	$	74	1
2024	90		91
2025	69		—
2026	38		—
2027	29		—
Thereafter	114		—
Total lease payments	$	414	$	92
Less imputed interest	(38)		(7)
Total	$	376	$	85

Schedule of finance lease maturities

As of January 29, 2023, the maturities of lease liabilities are as follows:


	Operating Leases		Finance Leases
Fiscal	(In millions)
2023 (remaining 9 months)	$	74	1
2024	90		91
2025	69		—
2026	38		—
2027	29		—
Thereafter	114		—
Total lease payments	$	414	$	92
Less imputed interest	(38)		(7)
Total	$	376	$	85

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

3 Months Ended

Jan. 29, 2023

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Loss, After-Tax Basis

Changes in the components of accumulated other comprehensive income (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 30, 2022	$	(75)	$	(52)	$	(88)	$	13	$	(202)


Other comprehensive income (loss) before reclassifications	17		(38)		—		—		(21)
Amounts reclassified out of AOCI	6		(18)		—		—		(12)
Other comprehensive income (loss), net of tax	23		(56)		—		—		(33)

Balance as of January 29, 2023	$	(52)	$	(108)	$	(88)	$	13	$	(235)


	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 31, 2021	$	(1)	$	(103)	$	(169)	$	13	$	(260)


Other comprehensive income (loss) before reclassifications	(12)		4		—		—		(8)
Amounts reclassified out of AOCI	(3)		(7)		—		—		(10)
Other comprehensive income (loss), net of tax	(15)		(3)		—		—		(18)

Balance as of January 30, 2022	$	(16)	$	(106)	$	(169)	$	13	$	(278)

Schedule of Stock Repurchases

The following table summarizes our stock repurchases for the three months ended January 29, 2023 and January 30, 2022:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(in millions, except per share amount)
Shares of common stock repurchased	2		12
Cost of stock repurchased	$	250	$	1,803
Average price paid per share	$	103.37	$	145.85

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
	January 29, 2023		January 30, 2022

	(In millions)
Cost of products sold	$	54	$	42
Research, development and engineering	54		43
Marketing and selling	17		14
General and administrative	23		19

Total share-based compensation	$	148	$	118

Schedule of Restricted Stock Units And Restricted Stock Activity


	Shares	Weighted Average Grant Date Fair Value

	(In millions, except per share amounts)
Outstanding as of October 30, 2022	11	$	92.31
Granted	5	$	102.84
Vested	(4)	$	70.61
Canceled	—	$	107.71
Outstanding as of January 29, 2023	12	$	103.81

Warranty, Guarantees, Commitments and Contingencies (Tables)

3 Months Ended

Jan. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Changes in The Warranty Reserves

Changes in the warranty reserves are presented below:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions)
Beginning balance	$	286	$	242
Warranties issued	62		65
Change in reserves related to preexisting warranty	4		3
Consumption of reserves	(50)		(56)
Ending balance	$	302	$	254

Industry Segment Operations (Tables)

3 Months Ended

Jan. 29, 2023

Segment Reporting [Abstract]

Schedule of Net Sales And Operating Income (Loss) For Each Reportable Segment

Net sales and operating income (loss) for each reportable segment were as follows:


	Three Months Ended
	Net Sales		Operating Income (Loss)

	(In millions)
January 29, 2023:
Semiconductor Systems	$	5,162	$	1,917
Applied Global Services	1,369		383
Display and Adjacent Markets	167		8
Corporate and Other	41		(338)
Total	$	6,739	$	1,970
January 30, 2022:
Semiconductor Systems	$	4,567	$	1,771
Applied Global Services	1,320		403
Display and Adjacent Markets	366		76
Corporate and Other	18		(274)
Total	$	6,271	$	1,976

Schedule of Revenue From External Customers by Geographic Areas

Net sales by geographic region, determined by the location of customers’ facilities to which products were shipped to, were as follows:


	Three Months Ended
	January 29, 2023				January 30, 2022				Change

	(In millions, except percentages)
China	$	1,145	17	%	$	1,987	32	%	(42)	%
Korea	1,293		19	%	1,121		18	%	15	%
Taiwan	1,968		29	%	1,249		20	%	58	%
Japan	456		7	%	561		9	%	(19)	%
Southeast Asia	253		4	%	225		3	%	12	%
Asia Pacific	5,115		76	%	5,143		82	%	(1)	%
United States	1,051		16	%	847		14	%	24	%
Europe	573		8	%	281		4	%	104	%
Total	$	6,739	100	%	$	6,271	100	%	7	%

Schedule of Disaggregation of Revenue

Net sales for Semiconductor Systems by end use application for the periods indicated were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022
Foundry, logic and other	77	%	60	%
Dynamic random-access memory (DRAM)	13	%	25	%
Flash memory	10	%	15	%

	100	%	100	%

Schedule of Reconciliations of Total Segment Operating Income To Consolidated Operating Income (Loss)

The reconciling items included in Corporate and Other were as follows:


	Three Months Ended
	January 29, 2023		January 30, 2022

	(In millions)
Unallocated net sales	$	41	$	18
Unallocated cost of products sold and expenses	(231)		(178)
Share-based compensation	(148)		(118)


Severance and related charges	—		4

Total	$	(338)	$	(274)

Schedule of Companies Accounted For At Least 10 Percent of Net Sales


	Percentage of Net Sales
Taiwan Semiconductor Manufacturing Company Limited	27	%
Samsung Electronics Co., Ltd.	15	%

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Numerator:
Net income	$ 1,717	$ 1,792
Denominator:
Weighted average common shares outstanding (in shares)	845	889
Effect of dilutive restricted stock units and employee stock purchase plan shares (in shares)	4	8
Denominator for diluted earnings per share (in shares)	849	897
Basic earnings per share (in dollars per share)	$ 2.03	$ 2.02
Diluted earnings per share (in dollars per share)	$ 2.02	$ 2.00
Potentially dilutive securities (in shares)	2	0

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Cash, Cash Equivalents and Investments - Summary of Cash, Cash Equivalents and Investments (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022	Jan. 30, 2022
Summary of Cash, Cash Equivalents and Investments
Cash	$ 1,225	$ 1,199
Total Cash equivalents	2,322	796
Total Cash and Cash equivalents	3,547	1,995	$ 5,264
Equity investments and equity securities without readily determinable, cost	658	652
Equity investments and equity securities without readily determinable, gross unrealized gains	140	149
Equity investments and equity securities without readily determinable, gross unrealized losses	15	30
Equity investments and equity securities without readily determinable, fair value	783	771
Total short-term and long-term investments cost	2,510	2,517
Gross unrealized gains on short-term and long-term investments	143	149
Gross unrealized losses on short-term and long-term investments	65	100
Total short-term and long-term investments	2,588	2,566
Cash, cash equivalents and investments, cost	6,057	4,512
Cash, cash equivalents and investments, gross unrealized gains	143	149
Cash, cash equivalents and investments, gross unrealized losses	65	100
Cash, cash equivalents and investments, estimated fair value	6,135	4,561
Total fixed income securities
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	1,852	1,865
Gross unrealized gains on fixed income securities	3	0
Gross unrealized losses on fixed income securities	50	70
Estimated fair value of fixed income securities	1,805	1,795
Bank certificates of deposit and time deposits
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities		7
Gross unrealized gains on fixed income securities		0
Gross unrealized losses on fixed income securities		0
Estimated fair value of fixed income securities		7
Bank certificates of deposit and time deposits
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	7
Gross unrealized gains on fixed income securities	0
Gross unrealized losses on fixed income securities	0
Estimated fair value of fixed income securities	7
U.S. Treasury and agency securities
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	444	435
Gross unrealized gains on fixed income securities	0	0
Gross unrealized losses on fixed income securities	9	13
Estimated fair value of fixed income securities	435	422
Non-U.S. government securities \| CANADA
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	7	7
Gross unrealized gains on fixed income securities	0	0
Gross unrealized losses on fixed income securities	1	1
Estimated fair value of fixed income securities	6	6
Municipal securities
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	372	389
Gross unrealized gains on fixed income securities	1	0
Gross unrealized losses on fixed income securities	10	16
Estimated fair value of fixed income securities	363	373
Commercial paper, corporate bonds and medium-term notes
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	579	595
Gross unrealized gains on fixed income securities	1	0
Gross unrealized losses on fixed income securities	15	21
Estimated fair value of fixed income securities	565	574
Asset-backed and mortgage-backed securities
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	443	432
Gross unrealized gains on fixed income securities	1	0
Gross unrealized losses on fixed income securities	15	19
Estimated fair value of fixed income securities	429	413
Publicly traded equity securities
Summary of Cash, Cash Equivalents and Investments
Equity investments cost	85	85
Equity investments unrealized gain	57	63
Equity investments unrealized loss	12	26
Equity investments estimated fair value	130	122
Equity investments in privately-held companies
Summary of Cash, Cash Equivalents and Investments
Equity securities without readily determinable, cost	573	567
Equity securities without readily determinable, gross unrealized gains	83	86
Equity securities without readily determinable, gross unrealized losses	3	4
Equity securities without readily determinable, fair value	653	649
Money market funds
Summary of Cash, Cash Equivalents and Investments
Total Cash equivalents	1,412	660
Bank certificates of deposit and time deposits
Summary of Cash, Cash Equivalents and Investments
Total Cash equivalents	80
U.S. Treasury and agency securities
Summary of Cash, Cash Equivalents and Investments
Total Cash equivalents		4
Municipal securities
Summary of Cash, Cash Equivalents and Investments
Total Cash equivalents	10	13
Commercial paper, corporate bonds and medium-term notes
Summary of Cash, Cash Equivalents and Investments
Total Cash equivalents	$ 820	$ 119

Cash, Cash Equivalents and Investments - Summary of Contractual Maturity (Details) $ in Millions	Jan. 29, 2023 USD ($)
Contractual maturities of investments
Due in one year or less, Cost	$ 464
Due after one through five years, Cost	938
Due after five years, Cost	7
No single maturity date, Cost	1,101
Total short-term and long-term investments cost	2,510
Due in one year or less, Estimated Fair Value	459
Due after one through five years, Estimated Fair Value	910
Due after five years, Estimated Fair Value	7
No single maturity date, Estimated Fair Value	1,212
Estimated fair value of short-term and long-term investments	$ 2,588

Cash, Cash Equivalents and Investments - Gain (Loss) on Equity Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Gain (Loss) on Securities [Line Items]
Total gain (loss) on equity investments, net	$ 8	$ 3
Publicly traded equity securities
Gain (Loss) on Securities [Line Items]
Unrealized gain	18	1
Unrealized loss	(16)	(8)
Realized gain on sales	0	2
Realized loss on sales or impairment	(1)	0
Equity investments in privately-held companies
Gain (Loss) on Securities [Line Items]
Unrealized gain	4	12
Unrealized loss	(2)	0
Realized gain on sales	5	0
Realized loss on sales or impairment	$ 0	$ (4)

Fair Value Measurements - Assets Measured at Fair Value (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022	Jan. 30, 2022
Equity investments with readily determinable values
Restricted cash equivalents included in deferred income taxes and other assets	$ 106		$ 105
Restricted Cash Equivalents, Statement of Financial Position [Extensible Enumeration]	Deferred Income Taxes and Other Assets, Noncurrent	Deferred Income Taxes and Other Assets, Noncurrent
Money market funds
Equity investments with readily determinable values
Restricted cash equivalents included in deferred income taxes and other assets	$ 106	$ 105
Bank certificates of deposit and time deposits
Assets:
Available-for-sale debt security investments	7
U.S. Treasury and agency securities
Assets:
Available-for-sale debt security investments	435	422
Municipal securities
Assets:
Available-for-sale debt security investments	363	373
Commercial paper, corporate bonds and medium-term notes
Assets:
Available-for-sale debt security investments	565	574
Asset-backed and mortgage-backed securities
Assets:
Available-for-sale debt security investments	429	413
Publicly traded equity securities
Equity investments with readily determinable values
Equity investments with readily determinable values	130	122
Recurring Fair Value Measurements
Assets:
Available-for-sale debt security investments	4,233	2,696
Equity investments with readily determinable values
Equity investments with readily determinable values	130	122
Total	4,363	2,818
Recurring Fair Value Measurements \| Money market funds
Assets:
Available-for-sale debt security investments	1,518	765
Recurring Fair Value Measurements \| Bank certificates of deposit and time deposits
Assets:
Available-for-sale debt security investments	87	7
Recurring Fair Value Measurements \| U.S. Treasury and agency securities
Assets:
Available-for-sale debt security investments	435	426
Recurring Fair Value Measurements \| Non-U.S. government securities
Assets:
Available-for-sale debt security investments	6	6
Recurring Fair Value Measurements \| Municipal securities
Assets:
Available-for-sale debt security investments	373	386
Recurring Fair Value Measurements \| Commercial paper, corporate bonds and medium-term notes
Assets:
Available-for-sale debt security investments	1,385	693
Recurring Fair Value Measurements \| Asset-backed and mortgage-backed securities
Assets:
Available-for-sale debt security investments	429	413
Recurring Fair Value Measurements \| Publicly traded equity securities
Equity investments with readily determinable values
Equity investments with readily determinable values	130	122
Recurring Fair Value Measurements \| Level 1
Assets:
Available-for-sale debt security investments	1,912	1,169
Equity investments with readily determinable values
Equity investments with readily determinable values	130	122
Total	2,042	1,291
Recurring Fair Value Measurements \| Level 1 \| Money market funds
Assets:
Available-for-sale debt security investments	1,518	765
Recurring Fair Value Measurements \| Level 1 \| Bank certificates of deposit and time deposits
Assets:
Available-for-sale debt security investments	0	0
Recurring Fair Value Measurements \| Level 1 \| U.S. Treasury and agency securities
Assets:
Available-for-sale debt security investments	394	404
Recurring Fair Value Measurements \| Level 1 \| Non-U.S. government securities
Assets:
Available-for-sale debt security investments	0	0
Recurring Fair Value Measurements \| Level 1 \| Municipal securities
Assets:
Available-for-sale debt security investments	0	0
Recurring Fair Value Measurements \| Level 1 \| Commercial paper, corporate bonds and medium-term notes
Assets:
Available-for-sale debt security investments	0	0
Recurring Fair Value Measurements \| Level 1 \| Asset-backed and mortgage-backed securities
Assets:
Available-for-sale debt security investments	0	0
Recurring Fair Value Measurements \| Level 1 \| Publicly traded equity securities
Equity investments with readily determinable values
Equity investments with readily determinable values	130	122
Recurring Fair Value Measurements \| Level 2
Assets:
Available-for-sale debt security investments	2,321	1,527
Equity investments with readily determinable values
Equity investments with readily determinable values	0	0
Total	2,321	1,527
Recurring Fair Value Measurements \| Level 2 \| Money market funds
Assets:
Available-for-sale debt security investments	0	0
Recurring Fair Value Measurements \| Level 2 \| Bank certificates of deposit and time deposits
Assets:
Available-for-sale debt security investments	87	7
Recurring Fair Value Measurements \| Level 2 \| U.S. Treasury and agency securities
Assets:
Available-for-sale debt security investments	41	22
Recurring Fair Value Measurements \| Level 2 \| Non-U.S. government securities
Assets:
Available-for-sale debt security investments	6	6
Recurring Fair Value Measurements \| Level 2 \| Municipal securities
Assets:
Available-for-sale debt security investments	373	386
Recurring Fair Value Measurements \| Level 2 \| Commercial paper, corporate bonds and medium-term notes
Assets:
Available-for-sale debt security investments	1,385	693
Recurring Fair Value Measurements \| Level 2 \| Asset-backed and mortgage-backed securities
Assets:
Available-for-sale debt security investments	429	413
Recurring Fair Value Measurements \| Level 2 \| Publicly traded equity securities
Equity investments with readily determinable values
Equity investments with readily determinable values	$ 0	$ 0

Fair Value Measurements - Narrative (Details) - Senior Notes - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, principal amount	$ 5,500	$ 5,500
Estimated Fair Value \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 5,200	$ 4,800

Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($) $ in Billions	3 Months Ended
	Jan. 29, 2023	Oct. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Time period for hedging of foreign currency transaction	24 months
Time period over which majority of after tax gain loss related to derivatives to be reclassified into earnings	12 months
Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 2.1	$ 2.1

Derivative Instruments and Hedging Activities - Gain (Loss) on Derivatives in AOCI (Details) - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion - gain (loss) recognized in AOCI	$ (49)	$ 5
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion - gain (loss) recognized in AOCI	$ (49)	$ 5

Derivative Instruments and Hedging Activities - Derivatives in Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Net Sales	$ 6,739	$ 6,271
Cost of products sold	3,594	3,312
Research, development and engineering	771	654
Marketing and selling	197	167
General and administrative	207	166
Interest expense	59	57
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations	24	9
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations	0	0
Foreign exchange contracts \| Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations	25	13
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations	0	0
Foreign exchange contracts \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations	2	(2)
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations	0	0
Foreign exchange contracts \| Research, development and engineering
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations	0	1
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations	0	0
Interest rate contracts \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Condensed Statement of Operations	(3)	(3)
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Condensed Statement of Operations	$ 0	$ 0

Derivative Instruments and Hedging Activities - Gain/Loss Recognized in Income (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments	$ (37)	$ (8)
Foreign exchange contracts \| Interest and other income, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments	(48)	0
Total return swaps - deferred compensation \| Interest and other income, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments	(2)	0
Total return swaps - deferred compensation \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments	1	(1)
Total return swaps - deferred compensation \| Operating expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments	$ 12	$ (7)

Accounts Receivable, Net (Details) - USD ($)	3 Months Ended
Accounts Receivable, Net (Details) - USD ($)	Jan. 29, 2023	Jan. 30, 2022	Oct. 30, 2022
Receivables [Abstract]
Factored accounts receivable	$ 279,000,000	$ 205,000,000
Discounted letters of credit	0	0
Discounted promissory notes	0	$ 0
Allowance for credit losses	$ 29,000,000		$ 29,000,000

Contract Balances - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 155	$ 173
Contract liabilities	$ 3,082	$ 3,142

Contract Balances - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 1,600
Accounts receivable, credit losses	0	$ 0
Contract assets, credit losses	0	$ 0
Long-term Contract with Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 4,200

Contract Balances - Expecting Timing of Satisfaction (Details) - Long-term Contract with Customer	Jan. 29, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percent of revenue expected to be recognized within twelve months	45.00%
Expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	24 months

Balance Sheet Detail - Inventories (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Inventories
Customer service spares	$ 1,498	$ 1,409
Raw materials	1,829	1,807
Work-in-process	1,094	1,029
Finished goods
Evaluation inventory	408	422
Deferred cost of sales	697	704
Manufactured on-hand inventory	528	561
Total finished goods	1,633	1,687
Inventories	$ 6,054	$ 5,932

Balance Sheet Detail - Other Current Assets (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Other Current Assets [Abstract]
Prepaid income taxes and income taxes receivable	$ 462	$ 461
Prepaid expenses and other	767	883
Other Current Assets	$ 1,229	$ 1,344

Balance Sheet Detail - Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Oct. 30, 2022
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 5,915	$ 5,629
Accumulated depreciation	(3,421)	(3,322)
Property, Plant and Equipment, Net	2,494	2,307
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	387	387
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 2,063	2,027
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	3 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	30 years
Demonstration and manufacturing equipment
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 2,141	2,083
Demonstration and manufacturing equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	3 years
Demonstration and manufacturing equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	5 years
Furniture, fixtures and other equipment
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 745	743
Furniture, fixtures and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	3 years
Furniture, fixtures and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	5 years
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 579	$ 389

Balance Sheet Detail - Deferred Income Taxes and Other Assets (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Balance Sheet Detail [Abstract]
Non-current deferred income taxes	$ 1,522	$ 1,395
Operating lease right-of-use assets	390	389
Finance lease right-of-use assets	94	0
Income tax receivables and other assets	606	691
Deferred Income Taxes and Other Assets	$ 2,612	$ 2,475

Balance Sheet Detail - Accounts Payable and Accrued Expense (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Accounts Payable and Accrued Expenses
Accounts payable	$ 1,611	$ 1,755
Compensation and employee benefits	564	905
Warranty	302	286
Dividends payable	220	220
Income taxes payable	517	319
Other accrued taxes	28	30
Interest payable	55	39
Operating lease liabilities, current	89	85
Other	583	598
Accounts Payable and Accrued Expenses	$ 3,969	$ 4,237

Balance Sheet Detail - Other Liabilities (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Other Liabilities
Defined and postretirement benefit plans	$ 117	$ 107
Operating lease liabilities, non-current	287	287
Finance lease liabilities, non-current	85	0
Other	367	338
Other Liabilities	$ 856	$ 732

Goodwill and Intangible Assets - Schedule of Goodwill and Other Indefinite-lived Intangible Assets (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Goodwill [Line Items]
Goodwill	$ 3,718	$ 3,700
Corporate and Other
Goodwill [Line Items]
Goodwill	41	41
Semiconductor Systems \| Operating Segments
Goodwill [Line Items]
Goodwill	2,446	2,428
Applied Global Services \| Operating Segments
Goodwill [Line Items]
Goodwill	1,032	1,032
Display and Adjacent Markets \| Operating Segments
Goodwill [Line Items]
Goodwill	$ 199	$ 199

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 11	$ 10

Goodwill and Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Finite-lived intangible assets
Intangible assets with finite lives:	$ 2,298	$ 2,294
Accumulated Amortization	(1,983)	(1,972)
Total	315	322
Intangible assets with indefinite lives:	17	17
Intangible assets, gross (excluding goodwill)	2,315	2,311
Intangible assets, net (excluding goodwill)	332	339
Operating Segments \| Semiconductor Systems
Finite-lived intangible assets
Intangible assets with finite lives:	1,989	1,985
Accumulated Amortization	(1,685)	(1,675)
Total	304	310
Intangible assets with indefinite lives:	16	16
Operating Segments \| Applied Global Services
Finite-lived intangible assets
Intangible assets with finite lives:	79	79
Accumulated Amortization	(77)	(77)
Total	2	2
Intangible assets with indefinite lives:	0	0
Operating Segments \| Display and Adjacent Markets
Finite-lived intangible assets
Intangible assets with finite lives:	194	194
Accumulated Amortization	(194)	(194)
Total	0	0
Intangible assets with indefinite lives:	0	0
Corporate and Other
Finite-lived intangible assets
Intangible assets with finite lives:	36	36
Accumulated Amortization	(27)	(26)
Total	9	10
Intangible assets with indefinite lives:	$ 1	$ 1

Goodwill and Intangible Assets - Estimated Amortization Expense (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Amortization Expense
2023 (remaining 9 months)	$ 31
2024	39
2025	38
2026	37
2027	24
Thereafter	146
Total	$ 315	$ 322

Borrowing Facilities and Debt - Narrative (Details) - USD ($)	1 Months Ended
	Feb. 29, 2020	Jan. 29, 2023	Oct. 30, 2022
Debt Instrument [Line Items]
Commercial paper		$ 1,500,000,000
Short-term debt		199,000,000	$ 0
Short Term Commercial Paper
Debt Instrument [Line Items]
Short-term debt		$ 200,000,000
Debt, weighted average interest rate		4.48%
Short Term Commercial Paper \| Minimum
Debt Instrument [Line Items]
Debt securities, held-to-maturity, threshold period past due		55 days
Short Term Commercial Paper \| Maximum
Debt Instrument [Line Items]
Debt securities, held-to-maturity, threshold period past due		63 days
Foreign Line of Credit
Debt Instrument [Line Items]
Available credit agreement		$ 62,000,000
Outstanding credit facilities		0	0
Unsecured Debt \| Revolving Credit
Debt Instrument [Line Items]
Debt instrument, term	5 years
Available credit agreement	$ 1,500,000,000
Accordion feature, increase limit	500,000,000
Accordion feature, higher borrowing capacity option	$ 2,000,000,000
Outstanding credit facilities		$ 0	0
Commercial Paper
Debt Instrument [Line Items]
Short-term debt			$ 0

Borrowing Facilities and Debt - Debt Outstanding (Details) - USD ($) $ in Millions	Jan. 29, 2023	Oct. 30, 2022
Debt Instrument [Line Items]
Total long-term senior notes	$ 5,458	$ 5,457
Senior Notes
Debt Instrument [Line Items]
Long-term debt, principal amount	5,500	5,500
Total unamortized discount	(12)	(12)
Total unamortized debt issuance costs	$ (30)	(31)
Senior Notes \| 3.900% Senior Notes Due 2025
Debt Instrument [Line Items]
Stated interest rate (as percent)	3.90%
Long-term debt, principal amount	$ 700	700
Effective Interest Rate	3.944%
Senior Notes \| 3.300% Senior Notes Due 2027
Debt Instrument [Line Items]
Stated interest rate (as percent)	3.30%
Long-term debt, principal amount	$ 1,200	1,200
Effective Interest Rate	3.342%
Senior Notes \| 1.750% Senior Notes Due 2030
Debt Instrument [Line Items]
Stated interest rate (as percent)	1.75%
Long-term debt, principal amount	$ 750	750
Effective Interest Rate	1.792%
Senior Notes \| 5.100% Senior Notes Due 2035
Debt Instrument [Line Items]
Stated interest rate (as percent)	5.10%
Long-term debt, principal amount	$ 500	500
Effective Interest Rate	5.127%
Senior Notes \| 5.850% Senior Notes Due 2041
Debt Instrument [Line Items]
Stated interest rate (as percent)	5.85%
Long-term debt, principal amount	$ 600	600
Effective Interest Rate	5.879%
Senior Notes \| 4.350% Senior Notes Due 2047
Debt Instrument [Line Items]
Stated interest rate (as percent)	4.35%
Long-term debt, principal amount	$ 1,000	1,000
Effective Interest Rate	4.361%
Senior Notes \| 2.750% Senior Notes Due 2050
Debt Instrument [Line Items]
Stated interest rate (as percent)	2.75%
Long-term debt, principal amount	$ 750	$ 750
Effective Interest Rate	2.773%

Leases - Lease Expense and Supplemental Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Leases [Abstract]
Operating lease cost	$ 26	$ 21
Weighted-average remaining lease term (in years) - operating leases	6 years 2 months 12 days	4 years 10 months 24 days
Weighted-average remaining lease term (in years) - finance leases	1 year 8 months 12 days
Weighted-average discount rate - operating leases	2.60%	1.80%
Weighted average discount rate, Finance leases	4.60%
Operating cash flows paid for operating leases	$ 26	$ 21
Financing cash flows paid for finance leases	10	0
Right-of-use assets obtained in exchange for operating lease liabilities	25	21
Right-of-use assets obtained in exchange for finance lease liabilities	$ 94	$ 0

Leases - Lease Maturities (Details) $ in Millions	Jan. 29, 2023 USD ($)
Operating Leases
2023 (remaining 9 months)	$ 74
2024	90
2025	69
2026	38
2027	29
Thereafter	114
Total lease payments	414
Less imputed interest	(38)
Total	376
Finance Leases
2023 (remaining 9 months)	1
2024	91
2025	0
2026	0
2027	0
Thereafter	0
Total lease payments	92
Less imputed interest	(7)
Total	$ 85

Stockholders' Equity, Comprehensive Income and Share-Based Compensation - Changes in Components of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 12,194	$ 12,247
Other comprehensive income (loss) before reclassifications	(21)	(8)
Amounts reclassified out of AOCI	(12)	(10)
Other comprehensive income (loss), net of tax	(33)	(18)
Ending Balance	13,420	11,890
Unrealized Gain (Loss) on Investments, Net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(75)	(1)
Other comprehensive income (loss) before reclassifications	17	(12)
Amounts reclassified out of AOCI	6	(3)
Other comprehensive income (loss), net of tax	23	(15)
Ending Balance	(52)	(16)
Unrealized Gain (Loss) on Derivative Instruments Qualifying as Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(52)	(103)
Other comprehensive income (loss) before reclassifications	(38)	4
Amounts reclassified out of AOCI	(18)	(7)
Other comprehensive income (loss), net of tax	(56)	(3)
Ending Balance	(108)	(106)
Defined and Postretirement Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(88)	(169)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified out of AOCI	0	0
Other comprehensive income (loss), net of tax	0	0
Ending Balance	(88)	(169)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	13	13
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified out of AOCI	0	0
Other comprehensive income (loss), net of tax	0	0
Ending Balance	13	13
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(202)	(260)
Other comprehensive income (loss), net of tax	(33)	(18)
Ending Balance	$ (235)	$ (278)

Stockholders' Equity, Comprehensive Income and Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2022	Jan. 29, 2023	Jan. 30, 2022	Mar. 31, 2022
Equity [Line Items]
Amount authorized by board of directors to repurchase shares				$ 6,000,000,000
Remaining authorized repurchase amount		$ 4,700,000,000
Dividends declared per share (in dollars per share)	$ 0.26	$ 0.26	$ 0.24
Payments of dividends		$ 220,000,000	$ 214,000,000
Employee Stock
Equity [Line Items]
Performance of total shareholder return		100.00%
Total unrecognized compensation expense		$ 1,000,000,000
Weighted average period for unrecognized compensation expense to be recognized (in years)		3 years 1 month 6 days
Performance Shares
Equity [Line Items]
Additional performance-based awards to be earned upon certain levels of achievement (in shares)		0.8
Award measurement metric relative weight		50.00%
Award measurement period		3 years
Performance Shares \| Minimum
Equity [Line Items]
Award vesting rights, percentage of target amount		0.00%
Performance Shares \| Maximum
Equity [Line Items]
Award vesting rights, percentage of target amount		200.00%
Employee Stock Incentive Plan
Equity [Line Items]
Number of shares available for grant (in shares)		26.0
Employee Stock Purchase Plan
Equity [Line Items]
Number of shares available for grant (in shares)		14.0
Employee stock purchase plan purchase period		6 months
Employee Stock Purchase Plan \| Employee Stock
Equity [Line Items]
Purchase price of common stock		85.00%

Stockholders' Equity, Comprehensive Income and Share-Based Compensation - Stock Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Equity [Abstract]
Common stock repurchases (in shares)	2	12
Cost of stock repurchased	$ 250	$ 1,803
Average price paid per share (in dollars per share)	$ 103.37	$ 145.85

Stockholders' Equity, Comprehensive Income and Share-Based Compensation - Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	$ 148	$ 118
Cost of products sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	54	42
Research, development and engineering
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	54	43
Marketing and selling
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	17	14
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	$ 23	$ 19

Stockholders' Equity, Comprehensive Income and Share-Based Compensation - Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units (Details) - Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units shares in Millions	3 Months Ended
	Jan. 29, 2023 $ / shares shares
Restricted stock units, restricted stock, performance shares and performance units
Beginning balance (in shares) \| shares	11
Granted (in shares) \| shares	5
Vested (in shares) \| shares	(4)
Canceled (in shares) \| shares	0
Ending balance (in shares) \| shares	12
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share) \| $ / shares	$ 92.31
Granted (in dollars per share) \| $ / shares	102.84
Vested (in dollars per share) \| $ / shares	70.61
Canceled (in dollars per share) \| $ / shares	107.71
Ending balance (in dollars per share) \| $ / shares	$ 103.81

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Jan. 29, 2023	Jan. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate provision (as percent)	12.40%	6.90%

Warranty, Guarantees, Commitments and Contingencies - Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 286	$ 242
Warranties issued	62	65
Change in reserves related to preexisting warranty	4	3
Consumption of reserves	(50)	(56)
Ending balance	$ 302	$ 254

Warranty, Guarantees, Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Jan. 29, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Standard product warranty period	12 months
Maximum potential amount of future payments for letters of credit or other guarantee instruments	$ 614
Parent guarantees to banks	$ 300

Industry Segment Operations - Narrative (Details)	3 Months Ended
Industry Segment Operations - Narrative (Details)	Jan. 29, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Industry Segment Operations - Net Sales and Operating Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Net sales and operating income (loss) for each reportable segment
Net Sales	$ 6,739	$ 6,271
Operating Income (Loss)	1,970	1,976
Corporate and Other
Net sales and operating income (loss) for each reportable segment
Net Sales	41	18
Operating Income (Loss)	$ (338)	$ (274)
Semiconductor Systems \| Sales Revenue \| Product Concentration Risk
Net sales and operating income (loss) for each reportable segment
Percentage of net sales	100.00%	100.00%
Semiconductor Systems \| Foundry, logic and other \| Sales Revenue \| Product Concentration Risk
Net sales and operating income (loss) for each reportable segment
Percentage of net sales	77.00%	60.00%
Semiconductor Systems \| Dynamic random-access memory (DRAM) \| Sales Revenue \| Product Concentration Risk
Net sales and operating income (loss) for each reportable segment
Percentage of net sales	13.00%	25.00%
Semiconductor Systems \| Flash memory \| Sales Revenue \| Product Concentration Risk
Net sales and operating income (loss) for each reportable segment
Percentage of net sales	10.00%	15.00%
Semiconductor Systems \| Operating Segments
Net sales and operating income (loss) for each reportable segment
Net Sales	$ 5,162	$ 4,567
Operating Income (Loss)	1,917	1,771
Applied Global Services \| Operating Segments
Net sales and operating income (loss) for each reportable segment
Net Sales	1,369	1,320
Operating Income (Loss)	383	403
Display and Adjacent Markets \| Operating Segments
Net sales and operating income (loss) for each reportable segment
Net Sales	167	366
Operating Income (Loss)	$ 8	$ 76

Industry Segment Operations - Net Sales by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Segment Reporting Information [Line Items]
Net sales	$ 6,739	$ 6,271
Change	7.00%
Asia Pacific
Segment Reporting Information [Line Items]
Net sales	$ 5,115	5,143
Change	(1.00%)
China
Segment Reporting Information [Line Items]
Net sales	$ 1,145	1,987
Change	(42.00%)
Korea
Segment Reporting Information [Line Items]
Net sales	$ 1,293	1,121
Change	15.00%
Taiwan
Segment Reporting Information [Line Items]
Net sales	$ 1,968	1,249
Change	58.00%
Japan
Segment Reporting Information [Line Items]
Net sales	$ 456	561
Change	(19.00%)
Southeast Asia
Segment Reporting Information [Line Items]
Net sales	$ 253	225
Change	12.00%
United States
Segment Reporting Information [Line Items]
Net sales	$ 1,051	847
Change	24.00%
Europe
Segment Reporting Information [Line Items]
Net sales	$ 573	$ 281
Change	104.00%
Sales Revenue \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	100.00%	100.00%
Sales Revenue \| Asia Pacific \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	76.00%	82.00%
Sales Revenue \| China \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	17.00%	32.00%
Sales Revenue \| Korea \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	19.00%	18.00%
Sales Revenue \| Taiwan \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	29.00%	20.00%
Sales Revenue \| Japan \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	7.00%	9.00%
Sales Revenue \| Southeast Asia \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	4.00%	3.00%
Sales Revenue \| United States \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	16.00%	14.00%
Sales Revenue \| Europe \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of net sales	8.00%	4.00%

Industry Segment Operations - Reconciliations of Total Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 29, 2023	Jan. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Sales	$ 6,739	$ 6,271
Share-based compensation	(148)	(118)
Severance and related charges	0	4
Income from operations	1,970	1,976
Corporate and Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Sales	41	18
Unallocated cost of products sold and expenses	(231)	(178)
Share-based compensation	(148)	(118)
Severance and related charges	0	4
Income from operations	$ (338)	$ (274)

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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+ Details

Industry Segment Operations - Percentage by Customer (Details) - Customer Concentration Risk - Sales Revenue	3 Months Ended
	Jan. 29, 2023
Taiwan Semiconductor Manufacturing Company Limited
Entity-Wide Revenue, Major Customer [Line Items]
Percentage of net sales	27.00%
Samsung Electronics Co., Ltd.
Entity-Wide Revenue, Major Customer [Line Items]
Percentage of net sales	15.00%