0000006951-23-000041 | 10-K | XBRL Viewer

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Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 44	$ 40	$ 49

Balance Sheet Detail

12 Months Ended

Oct. 29, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Detail


	October 29, 2023		October 30, 2022

	(In millions)
Inventories
Customer service spares	$	1,589	$	1,409
Raw materials	1,653		1,807
Work-in-process	997		1,029
Finished goods
Deferred cost of sales	413		704
Evaluation inventory	423		422
Manufactured on-hand inventory	650		561
Total finished goods	1,486		1,687
Total inventories	$	5,725	$	5,932


	October 29, 2023		October 30, 2022

	(In millions)
Other Current Assets


Prepaid income taxes and income taxes receivable	$	412	$	461
Prepaid expenses and other	976		883
	$	1,388	$	1,344


	Useful Life	October 29, 2023		October 30, 2022

	(In years)	(In millions)
Property, Plant and Equipment, Net
Land and improvements		$	393	$	387
Buildings and improvements	3-30	2,194		2,027
Demonstration and manufacturing equipment	3-5	2,353		2,083
Furniture, fixtures and other equipment	3-5	762		743
Construction in progress		672		389
Gross property, plant and equipment		6,374		5,629
Accumulated depreciation		(3,651)		(3,322)
		$	2,723	$	2,307

Depreciation expense was $471 million, $404 million and $345 million for fiscal 2023, 2022 and 2021, respectively.


	October 29, 2023		October 30, 2022

	(In millions)
Deferred Income Taxes and Other Assets
Non-current deferred income taxes	$	1,729	$	1,395
Operating lease right-of-use assets	370		389
Finance lease right-of-use assets	108		—
Income tax receivables and other assets	345		691
	$	2,552	$	2,475


	October 29, 2023		October 30, 2022

	(In millions)
Accounts Payable and Accrued Expenses
Accounts payable	$	1,478	$	1,755

Compensation and employee benefits	1,024		905

Warranty	332		286
Dividends payable	267		220
Income taxes payable	282		319
Other accrued taxes	65		30
Interest payable	38		39
Operating lease liabilities, current	84		85
Finance lease liabilities, current	102		—

Other	625		598
	$	4,297	$	4,237


	October 29, 2023		October 30, 2022

	(In millions)
Other Liabilities


Defined and postretirement benefit plans	$	126	$	107
Operating lease liabilities, non-current	252		287

Other	336		338
	$	714	$	732

Leases - Lease Expense and Supplemental Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Leases [Abstract]
Operating lease cost	$ 102	$ 93	$ 79
Amortization of right-of-use assets	2	0	0
Interest on lease liabilities	$ 3	$ 0	$ 0
Weighted-average remaining lease term (in years) - operating leases	5 years 8 months 12 days	6 years 3 months 18 days	5 years 1 month 6 days
Weighted-average remaining lease term (in years) - finance leases	10 months 24 days
Weighted-average discount rate - operating leases	3.10%	2.50%	1.70%
Weighted-average discount rate - finance leases	4.60%
Operating cash flows paid for operating leases	$ 112	$ 107	$ 79
Financing cash flows paid for finance leases	7	0	0
Right-of-use assets obtained in exchange for operating lease liabilities	106	204	123
Right-of-use assets obtained in exchange for finance lease liabilities	$ 109	$ 0	$ 0

Borrowing Facilities and Debt (Debt Outstanding) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Schedule of debt
Long-term debt	$ 5,461	$ 5,457
Senior Notes
Schedule of debt
Long-term debt principal amount	5,500	5,500
Total unamortized discount	(11)	(12)
Total unamortized debt issuance costs	$ (28)	(31)
Senior Notes \| 3.900% Senior Notes Due 2025
Debt Instrument [Line Items]
Stated interest rate	3.90%
Schedule of debt
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	3.30%
Schedule of debt
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	1.75%
Schedule of debt
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	5.10%
Schedule of debt
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	5.85%
Schedule of debt
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	4.35%
Schedule of debt
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	2.75%
Schedule of debt
Long-term debt principal amount	$ 750	$ 750
Effective interest rate	2.773%

Industry Segment Operations (Reportable Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 26,517	$ 25,785	$ 23,063
Operating Income (Loss)	7,654	7,788	6,889
Deprecation/Amortization	515	444	394
Capital Expenditures	1,106	787	668
Accounts Receivable	5,165	6,068	4,953
Inventories	5,725	5,932	4,309
Operating Segments \| Semiconductor Systems
Segment Reporting Information [Line Items]
Net sales	19,698	18,797	16,286
Operating Income (Loss)	7,090	6,969	6,311
Deprecation/Amortization	235	203	194
Capital Expenditures	381	249	228
Accounts Receivable	3,943	4,924	3,886
Inventories	3,433	3,995	2,586
Operating Segments \| Applied Global Services
Segment Reporting Information [Line Items]
Net sales	5,732	5,543	5,013
Operating Income (Loss)	1,657	1,661	1,508
Deprecation/Amortization	31	31	32
Capital Expenditures	39	38	29
Accounts Receivable	1,111	997	922
Inventories	2,073	1,788	1,561
Operating Segments \| Display and Adjacent Markets
Segment Reporting Information [Line Items]
Net sales	868	1,331	1,634
Operating Income (Loss)	133	260	314
Deprecation/Amortization	19	31	27
Capital Expenditures	13	30	32
Accounts Receivable	184	148	207
Inventories	200	129	153
Corporate and Other
Segment Reporting Information [Line Items]
Net sales	219	114	130
Operating Income (Loss)	(1,226)	(1,102)	(1,244)
Deprecation/Amortization	230	179	141
Capital Expenditures	673	470	379
Accounts Receivable	(73)	(1)	(62)
Inventories	$ 19	$ 20	$ 9

Summary of Significant Accounting Policies (Warranty) (Details)	12 Months Ended
	Oct. 29, 2023
Accounting Policies [Abstract]
Extended product warranty period	2 years

Employee Benefit Plans (Plan Assets Allocation) (Details)	Oct. 29, 2023	Oct. 30, 2022
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets — allocation	29.00%	26.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets — allocation	31.00%	37.00%
Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Plan assets — allocation	19.00%	21.00%
Other investments
Defined Benefit Plan Disclosure [Line Items]
Plan assets — allocation	20.00%	15.00%
Cash
Defined Benefit Plan Disclosure [Line Items]
Plan assets — allocation	1.00%	1.00%

Stockholders' Equity, Comprehensive Income and Share-Based Compensation (ESPP Fair Value Assumptions) (Details) - Employee Stock Purchase Plan - $ / shares	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Weighted Average Assumptions Used for ESPP Granted
Dividend yield	0.98%	0.97%	0.72%
Expected volatility	39.40%	46.80%	41.30%
Risk-free interest rate	5.29%	2.24%	0.05%
Expected life (in years)	6 months	6 months	6 months
Weighted average estimated fair value (in dollars per share)	$ 35.31	$ 30.23	$ 33.77

Industry Segment Operations (Tables)

12 Months Ended

Oct. 29, 2023

Segment Reporting [Abstract]

Schedule of segment reporting

Information for each reportable segment for and as of the end of each fiscal year were as follows:


	Net Sales		Operating Income (Loss)		Depreciation/ Amortization		Capital Expenditures		Accounts Receivable		Inventories

	(In millions)
2023:
Semiconductor Systems	$	19,698	$	7,090	$	235	$	381	$	3,943	$	3,433
Applied Global Services	5,732		1,657		31		39		1,111		2,073
Display and Adjacent Markets	868		133		19		13		184		200
Corporate and Other	219		(1,226)		230		673		(73)		19
Total	$	26,517	$	7,654	$	515	$	1,106	$	5,165	$	5,725
2022:
Semiconductor Systems	$	18,797	$	6,969	$	203	$	249	$	4,924	$	3,995
Applied Global Services	5,543		1,661		31		38		997		1,788
Display and Adjacent Markets	1,331		260		31		30		148		129
Corporate and Other	114		(1,102)		179		470		(1)		20
Total	$	25,785	$	7,788	$	444	$	787	$	6,068	$	5,932
2021:
Semiconductor Systems	$	16,286	$	6,311	$	194	$	228	$	3,886	$	2,586
Applied Global Services	5,013		1,508		32		29		922		1,561
Display and Adjacent Markets	1,634		314		27		32		207		153
Corporate and Other	130		(1,244)		141		379		(62)		9
Total	$	23,063	$	6,889	$	394	$	668	$	4,953	$	4,309

Disaggregation of revenue

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


	2023		2022		2021
Foundry, logic and other	77	%	66	%	60	%
Dynamic random-access memory (DRAM)	17	%	19	%	19	%
Flash memory	6	%	15	%	21	%

	100	%	100	%	100	%

Segment reconciling items in corporate and other

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


	2023		2022		2021

	(In millions)
Unallocated net sales	$	219	$	114	$	130
Unallocated cost of products sold and expenses	(955)		(807)		(725)
Share-based compensation	(490)		(413)		(346)
Severance and related charges	—		4		(149)
Deal termination fee	—		—		(154)
Total	$	(1,226)	$	(1,102)	$	(1,244)

Net sales and long-lived assets by geographic region

Net sales and long-lived assets by geographic region for and as of each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Net sales:
United States	$	4,006	$	3,104	$	2,038
China	7,247		7,254		7,535
Korea	4,609		4,395		5,012
Taiwan	5,670		6,262		4,742
Japan	2,075		2,012		1,962
Europe	2,152		1,674		1,097
Southeast Asia	758		1,084		677
Total outside United States	22,511		22,681		21,025
Consolidated total	$	26,517	$	25,785	$	23,063


	October 29, 2023		October 30, 2022

	(In millions)
Long-lived assets:
United States	$	3,239	$	2,725
China	4		6
Korea	11		14
Taiwan	59		62
Japan	7		7
Europe	110		75
Southeast Asia	6		8
Total outside United States	197		172
Consolidated total	$	3,436	$	2,897

Companies accounted for at least 10 percent of net sales

The following customers accounted for at least 10 percent of our net sales in each fiscal year, which were for products and services in multiple reportable segments:


	2023		2022		2021
Samsung Electronics Co., Ltd.	15	%	12	%	20	%
Taiwan Semiconductor Manufacturing Company Limited	19	%	20	%	15	%

Intel Corporation	*		10	%	*

___________________________

*Less than 10%

Derivative Instruments and Hedging Activities (Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Consolidated Statement of Operations	$ (5)	$ 33	$ 60
Foreign exchange contracts \| Interest and other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Consolidated Statement of Operations	(4)	67	29
Total return swap \| Interest and other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Consolidated Statement of Operations	(11)	(2)	(1)
Total return swap \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Consolidated Statement of Operations	1	(3)	3
Total return swap \| Operating expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Consolidated Statement of Operations	$ 9	$ (29)	$ 29

Stockholders' Equity, Comprehensive Income and Share-Based Compensation

12 Months Ended

Oct. 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 at October 25, 2020	$	20	$	(133)	$	(199)	$	13	(299)


Other comprehensive income (loss) before reclassifications	(14)		28		20		—		34
Amounts reclassified out of AOCI	(7)		2		10		—		5
Other comprehensive income (loss), net of tax	(21)		30		30		—		39
Balance at October 31, 2021	$	(1)	$	(103)	$	(169)	$	13	$	(260)


Other comprehensive income (loss) before reclassifications	(60)		100		71		—		111
Amounts reclassified out of AOCI	(14)		(49)		10		—		(53)
Other comprehensive income, net of tax	(74)		51		81		—		58
Balance at October 30, 2022	$	(75)	$	(52)	$	(88)	$	13	$	(202)


Other comprehensive income (loss) before reclassifications	16		(44)		17		—		(11)
Amounts reclassified out of AOCI	9		(22)		9		—		(4)
Other comprehensive income (loss), net of tax	25		(66)		26		—		(15)
Balance at October 29, 2023	$	(50)	$	(118)	$	(62)	$	13	$	(217)

The tax effects on net income of amounts reclassified from AOCI for the fiscal years 2023, 2022 and 2021 were $18 million, $36 million and $18 million, respectively.

Stock Repurchase Program

In March 2023, our Board of Directors approved a common stock repurchase program authorizing $10.0 billion in repurchases, which supplemented the previously existing $6.0 billion authorization approved in March 2022. At October 29, 2023, approximately $12.7 billion remained available for future stock repurchases under the repurchase program.

The following table summarizes our stock repurchases, including excise tax, for each fiscal year:


	2023		2022		2021

	(In millions, except per share amounts)
Shares of common stock repurchased	18		54		28
Cost of stock repurchased	$	2,202	$	6,103	$	3,750
Average price paid per share	$	123.63	$	113.84	$	134.03

Effective January 1, 2023, stock repurchase amounts in the above table include the 1% surcharge on stock repurchases under the Inflation Reduction Act’s excise tax. This excise tax is recorded in equity and reduces the amount available under the repurchase program, as applicable. Excluding this excise tax, total cost of stock repurchased was $2,189 million, or $122.89 per share, for fiscal 2023.

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

During fiscal 2023, our Board of Directors declared one quarterly cash dividend of $0.26 per share and three quarterly cash dividends of $0.32 per share. During fiscal 2022, our Board of Directors declared one quarterly cash dividend of $0.24 per share and three quarterly cash dividends of $0.26 per share. During fiscal 2021, our Board of Directors declared one quarterly cash dividend of $0.22 per share and three quarterly cash dividends of $0.24 per share. Dividends paid during fiscal 2023, 2022 and 2021 amounted to $975 million, $873 million and $838 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.

We recognized share-based compensation expense related to equity awards and ESPP shares. The effect of share-based compensation on the results of operations and the related tax benefits for each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Cost of products sold	$	180	$	147	$	118
Research, development, and engineering	179		151		129
Marketing and selling	55		49		43
General and administrative	76		66		56

Total share-based compensation	$	490	$	413	$	346

Income tax benefits recognized	$	63	$	51	$	43

The cost associated with share-based awards is typically recognized over the awards’ service period for the entire award on a straight-line basis, adjusting for estimated forfeitures. However, in the case of share-based awards granted to certain members of senior management that allow for partial accelerated vesting in the event of a qualifying retirement based on age and years of service, the compensation expense is recognized once the individual meets the conditions for a qualifying retirement. We calculate estimated forfeiture rate on an annual basis, based on historical forfeiture activities. 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.

At October 29, 2023, we had $791 million in total unrecognized compensation expense, net of estimated forfeitures, related to grants of share-based awards under the ESIP and shares issued under the ESPP, which will be recognized over a weighted average period of 2.5 years. At October 29, 2023, there were 25 million shares available for grant of share-based awards under the ESIP, and an additional 12 million shares available for issuance under the ESPP.

Stock Options

Stock options are rights to purchase, at future dates, shares of our common stock. The exercise price of each stock option equals the fair market value of our common stock on the date of grant. Options typically vest over three to four years, subject to the grantee’s continued service with us through the scheduled vesting date, and expire no later than seven years from the grant date. There were no stock options granted during fiscal 2023, 2022 and 2021. There were no outstanding stock options at the end of fiscal 2023.

Restricted Stock Units, Restricted Stock, Performance Share Units and Performance Units

Restricted stock units are converted into shares of our common stock upon vesting on a one-for-one basis. Restricted stock has the same rights as other issued and outstanding shares of our common stock except these shares generally have no right to dividends and are held in escrow until the award vests. Performance share units and performance units are awards that result in a payment to a grantee, generally in shares of our common stock on a one-for-one basis, if performance goals, market goals and/or other vesting criteria are achieved or the awards otherwise vest. Restricted stock units, restricted stock, performance share units and performance units typically vest over three to four years and vesting is usually subject to the grantee’s continued service with us and, in some cases, achievement of specified performance and/or market goals.

The compensation expense related to share-based awards subject solely to time-based vesting requirements (Service-Based Awards) is determined using the market value of our common stock, adjusted to exclude the present value of expected dividends during the vesting period. The market value of our common stock is calculated using the closing price of our common stock on the date of grant or if the grant date is not a trading date, the average of the closing prices on the trading dates immediately preceding and following the grant date.

During fiscal 2023, 2022 and 2021, certain members of senior management were granted awards that are subject to the achievement of certain levels of specified performance and/or market goals, in addition to time-based vesting requirements (Performance Based-Awards).

Certain Performance-Based Awards 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 number of shares that may vest in full after three years ranges from 0% to 200% of the target amount. 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 awards provide for a partial vesting based on actual performance at the conclusion of the three-year performance period in the event of a qualifying retirement.

During fiscal 2021, certain executive officers were also granted non-recurring long-term Performance-Based Awards that are subject to the achievement of targeted levels of our absolute TSR. The awards become eligible to vest only if targeted levels of TSR are achieved during a five-year performance period and will vest only if the grantee remains employed by us through the vesting date in October 2025, except in the event of involuntary termination of employment without cause, death or following a change of control. The number of shares that may vest in full after five years ranges from 0% to 200% of the target amount.

The fair value of the portion of the Performance-Based Awards subject to targeted levels of relative TSR or absolute 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.

The fair value of the portion of the Performance-Based Awards subject to targeted levels of adjusted operating margin is estimated on the date of grant based on the market value of our common stock, adjusted to exclude the present value of expected dividends during the vesting period. The market value of our common stock is calculated using the closing price of our common stock on the date of the grant or if the grant date is not a trading date, the average of the closing prices on the trading dates immediately preceding and following the grant date. 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 following tables summarize the assumptions used for the valuation of share-based awards for the periods presented:


	2023	2022	2021
Service-Based Awards and the portion of Performance-Based Awards subject to performance goals:
Grant date market value	$104.22 - $143.97	$74.62 - $157.29	$74.37 - $143.05
Risk-free interest rate	3.64% - 5.48%	0.16% - 4.48%	0.04% - 0.82%
Dividend yield	0.70% - 3.59%	0.47% - 3.83%	0.20% - 3.09%
Fair value	$102.09 - $141.33	$72.24 - $154.88	$72.20 - $140.66


	2023		2022	2021*
Portion of Performance-Based Awards subject to market goals:
Grant date market value	$109.37		$146.49	$86.10 - $88.84
Risk-free interest rate	4.10	%	0.87%	0.20% - 0.41%
Dividend yield	0.95	%	0.66%	0.99% - 1.02%
Expected volatility	52.38	%	47.35%	40.51% - 47.00%
Fair value	$162.72		$210.69	$129.27 - $136.81

________________________

*Fiscal 2021 included both annual and non-recurring long-term Performance-Based Awards.

A summary of the changes in restricted stock units, restricted stock, performance shares and performance units outstanding under our equity compensation plans is presented below:


	Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value

	(In millions, except per share amounts)
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 25, 2020	15	$	45.36	2.2 years	$	914
Granted	5	$	92.04
Vested	(6)	$	43.11
Canceled	(1)	$	59.41
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 31, 2021	13	$	63.29	2.2 years	$	1,752
Granted	4	$	132.44
Vested	(5)	$	54.00
Canceled	(1)	$	82.54
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 30, 2022	11	$	92.31	2.2 years	$	1,024
Granted	6	$	104.00
Vested	(5)	$	72.49
Canceled	—	$	103.73
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 29, 2023	12	$	106.24	2.4 years	$	1,524
Non-vested restricted stock units, restricted stock, performance shares and performance units expected to vest	11	$	107.26	2.3 years	$	1,495

At October 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.

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 began in March and September of each of fiscal 2023, 2022 and 2021. We issued 2 million shares in fiscal 2023 at a weighted average price of $87.75 per share, 2 million shares in fiscal 2022 at a weighted average price of $93.30 per share and 3 million shares in fiscal 2021 at a weighted average price of $70.29 per share, under the ESPP. Compensation expense is calculated using the fair value of the employees’ purchase rights under the Black-Scholes model. Underlying assumptions used in the model are outlined in the following table:


	2023		2022		2021
ESPP:
Dividend yield	0.98	%	0.97	%	0.72	%
Expected volatility	39.4	%	46.8	%	41.3	%
Risk-free interest rate	5.29	%	2.24	%	0.05	%
Expected life (in years)	0.5		0.5		0.5
Weighted average estimated fair value	$35.31		$30.23		$33.77

Stockholders' Equity, Comprehensive Income and Share-Based Compensation (Narrative) (Details) - USD ($)	3 Months Ended												12 Months Ended
	Oct. 29, 2023	Jul. 30, 2023	Apr. 30, 2023	Jan. 29, 2023	Oct. 30, 2022	Jul. 31, 2022	May 01, 2022	Jan. 30, 2022	Oct. 31, 2021	Aug. 01, 2021	May 02, 2021	Jan. 31, 2021	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021	Mar. 31, 2023	Mar. 31, 2022
Equity [Line Items]
Tax effects on net income of amounts reclassified from AOCI													$ 18,000,000	$ 36,000,000	$ 18,000,000
Stock Repurchase Program
Authorized amount																$ 10,000,000,000	$ 6,000,000,000
Remaining authorized repurchase amount	$ 12,700,000,000												12,700,000,000
Common stock repurchases													$ 2,189,000,000
Average price paid per share (in dollars per share)													$ 122.89
Dividends
Cash dividend declared (usd per share)	$ 0.32	$ 0.32	$ 0.32	$ 0.26	$ 0.26	$ 0.26	$ 0.26	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.22	$ 1.22	$ 1.02	$ 0.94
Payments of dividends													$ 975,000,000	$ 873,000,000	$ 838,000,000
Employee Stock Purchase Plan
Employee Stock Purchase Plans
Purchase period													6 months
Number of shares issued under the ESPP (in shares)													2,000,000	2,000,000	3,000,000
Weighted average exercise price (in dollars per share)													$ 87.75	$ 93.30	$ 70.29
Employee Stock
Share-based Compensation
Performance of total shareholder return													100.00%
Total unrecognized compensation expense	$ 791,000,000												$ 791,000,000
Weighted average period for unrecognized compensation expense to be recognized													2 years 6 months
Employee Stock \| Employee Stock Purchase Plan
Employee Stock Purchase Plans
Purchase price of common stock, percent													85.00%
Stock Options
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Stock options scheduled to expire													7 years
Options granted (in shares)													0	0	0
Stock Options \| Employee Stock Incentive Plan
Share-based Compensation
Number of shares available for grant	25,000,000												25,000,000
Stock Options \| Employee Stock Purchase Plan
Share-based Compensation
Number of shares available for grant	12,000,000												12,000,000
Stock Options \| Minimum
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting period													3 years
Stock Options \| Maximum
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting period													4 years
Performance Shares/Performance Units
Share-based Compensation
Performance of total shareholder return													100.00%
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Weight of metric (as a percent)													50.00%
Award measurement period													3 years
Additional performance-based awards to be earned upon certain levels of achievement (in shares)	800,000												800,000
Performance Shares/Performance Units \| Executive Officer
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award measurement period													5 years
Performance Shares/Performance Units \| Minimum
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting rights as percentage of target amount													0.00%
Performance Shares/Performance Units \| Minimum \| Executive Officer
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting rights as percentage of target amount													0.00%
Performance Shares/Performance Units \| Maximum
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting rights as percentage of target amount													200.00%
Performance Shares/Performance Units \| Maximum \| Executive Officer
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting rights as percentage of target amount													200.00%
Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units \| Minimum
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting period													3 years
Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units \| Maximum
Stock Options, Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units
Award vesting period													4 years

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Income Statement [Abstract]
Net sales	$ 26,517	$ 25,785	$ 23,063
Cost of products sold	14,133	13,792	12,149
Gross profit	12,384	11,993	10,914
Operating expenses:
Research, development and engineering	3,102	2,771	2,485
Marketing and selling	776	703	609
General and administrative	852	735	620
Severance and related charges	0	(4)	157
Deal termination fee	0	0	154
Total operating expenses	4,730	4,205	4,025
Income from operations	7,654	7,788	6,889
Interest expense	238	228	236
Interest and other income (expense), net	300	39	118
Income before income taxes	7,716	7,599	6,771
Provision for income taxes	860	1,074	883
Net income	$ 6,856	$ 6,525	$ 5,888
Earnings per share:
Basic (in dollars per share)	$ 8.16	$ 7.49	$ 6.47
Diluted (in dollars per share)	$ 8.11	$ 7.44	$ 6.40
Weighted average number of shares:
Basic (in shares)	840	871	910
Diluted (in shares)	845	877	919

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 6,856	$ 6,525	$ 5,888
Other comprehensive income (loss), net of tax:
Change in unrealized gain (loss) on available-for-sale investments	25	(74)	(21)
Change in unrealized net loss on derivative instruments	(66)	51	30
Change in defined and postretirement benefit plans	26	81	30
Other comprehensive income (loss), net of tax	(15)	58	39
Comprehensive income	$ 6,841	$ 6,583	$ 5,927

- Definition

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

+ References

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+ Details

Goodwill and Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Goodwill [Line Items]
Goodwill	$ 3,732	$ 3,700
Corporate and Other
Goodwill [Line Items]
Goodwill	41	41
Semiconductor Systems \| Operating Segments
Goodwill [Line Items]
Goodwill	2,460	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

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Derivative Instruments and Hedging Activities

12 Months Ended

Oct. 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 at October 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 recognize the gain or loss on the associated financial instrument in the consolidated 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 fiscal years 2023, 2022 or 2021.

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 October 29, 2023 and October 30, 2022, the total outstanding notional amount of foreign exchange contracts was $1.7 billion and $2.1 billion, respectively. The fair values of foreign exchange derivative instruments at October 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:


	Derivatives in Cash Flow Hedging Relationships
	2023		2022		2021
	(In millions)
Foreign exchange contracts	$	(56)	$	128	$	36

Total	$	(56)	$	128	$	36

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


			Derivatives in Cash Flow Hedging Relationships
	Total Amount Presented in the Consolidated Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations		Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations
2023	(In millions)

Foreign Exchange Contracts:
Net sales	$	26,517	$	63	$	—
Cost of products sold	$	14,133	—		—
Research, development and engineering	$	3,102	(14)		—
Marketing and selling	$	776	(2)		—
General and administrative	$	852	(4)		—
Interest Rate Contracts:
Interest expense	$	238	(13)		—
			$	30	$	—

2022
Foreign Exchange Contracts:
Net sales	$	25,785	$	100	$	—
Cost of products sold	$	13,792	(12)		—
Research, development and engineering	$	2,771	(7)		(1)
Marketing and selling	$	703	(3)		—
General and administrative	$	735	(3)		—
Interest Rate Contracts:
Interest expense	$	228	(13)		—
			$	62	$	(1)

2021
Foreign Exchange Contracts:
Net sales	$	23,063	$	4	$	—
Cost of products sold	$	12,149	2		(2)
Research, development and engineering	$	2,485	3		—

General and administrative	$	620	1		—
Interest Rate Contracts:
Interest expense	$	236	(13)		—
			$	(3)	$	(2)


		Amount of Gain or (Loss) Recognized in Consolidated Statement of Operations
	Location of Gain or (Loss) Recognized in Consolidated Statement of Operations	2023		2022		2021

		(In millions)
Derivatives Not Designated as Hedging Instruments

Foreign exchange contracts	Interest and other income (expense), net	$	(4)	$	67	$	29
Total return swaps - deferred compensation	Cost of products sold	1		(3)		3
Total return swaps - deferred compensation	Operating expenses	9		(29)		29
Total return swaps - deferred compensation	Interest and other income (expense), net	(11)		(2)		(1)
Total		$	(5)	$	33	$	60

Credit Risk Contingent Features

If our credit rating were to fall below investment grade, we 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 October 29, 2023 and October 30, 2022.

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.

Audit Information	12 Months Ended
Audit Information	Oct. 29, 2023
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Santa Clara, California
Auditor Firm ID	185

Earnings Per Share (Tables)

12 Months Ended

Oct. 29, 2023

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share


Fiscal Year	2023		2022		2021

	(In millions, except per share amounts)
Numerator:
Net income	$	6,856	$	6,525	$	5,888
Denominator:
Weighted average common shares outstanding	840		871		910
Effect of weighted dilutive restricted stock units and employee stock purchase plan shares	5		6		9
Denominator for diluted earnings per share	845		877		919
Basic earnings per share	$	8.16	$	7.49	$	6.47
Diluted earnings per share	$	8.11	$	7.44	$	6.40
Potentially weighted dilutive securities	—		3		—

Derivative Instruments and Hedging Activities - Gain (Loss) on Derivatives in AOCI (Details) - Cash Flow Hedging - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ (56)	$ 128	$ 36
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ (56)	$ 128	$ 36

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended												12 Months Ended
	Oct. 29, 2023	Jul. 30, 2023	Apr. 30, 2023	Jan. 29, 2023	Oct. 30, 2022	Jul. 31, 2022	May 01, 2022	Jan. 30, 2022	Oct. 31, 2021	Aug. 01, 2021	May 02, 2021	Jan. 31, 2021	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividend declared (usd per share)	$ 0.32	$ 0.32	$ 0.32	$ 0.26	$ 0.26	$ 0.26	$ 0.26	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.22	$ 1.22	$ 1.02	$ 0.94

Cash, Cash Equivalents and Investments (Tables)

12 Months Ended

Oct. 29, 2023

Cash and Cash Equivalents [Abstract]

Summary Of Cash, Cash Equivalents And Investments

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


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

	(In millions)
Cash	$	1,417	$	—	$	—	$	1,417
Cash equivalents:
Money market funds*	3,260		—		—		3,260


Municipal securities	26		—		—		26
Commercial paper, corporate bonds and medium-term notes	1,429		—		—		1,429

Total cash equivalents	4,715		—		—		4,715
Total cash and cash equivalents	$	6,132	$	—	$	—	$	6,132
Short-term and long-term investments:
Bank certificates of deposit and time deposits	$	18	$	—	$	—	$	18
U.S. Treasury and agency securities	381		—		7		374
Non-U.S. government securities**	7		—		1		6
Municipal securities	438		—		11		427
Commercial paper, corporate bonds and medium-term notes	760		—		12		748
Asset-backed and mortgage-backed securities	502		—		15		487
Total fixed income securities	2,106		—		46		2,060
Publicly traded equity securities	543		171		16		698
Equity investments in privately held companies	192		78		10		260
Total equity investments	735		249		26		958
Total short-term and long-term investments	$	2,841	$	249	$	72	$	3,018
Total cash, cash equivalents and investments	$	8,973	$	249	$	72	$	9,150

_________________________

*Excludes $101 million of restricted cash equivalents invested in money market funds related to deferred compensation plans.

**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

________________________

*Excludes $105 million of restricted cash equivalents invested in money market funds related to deferred compensation plans.

**Includes Canadian provincial government debt.

Contractual Maturities Of Investments

The following table summarizes the contractual maturities of our investments at October 29, 2023:


	Cost		Estimated Fair Value

	(In millions)
Due in one year or less	$	716	$	709
Due after one through five years	888		864

No single maturity date*	1,237		1,445
Total	$	2,841	$	3,018

_________________________

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

Components Of Gain (Loss) On Equity Investment

The components of gain (loss) on equity investments for each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Publicly traded equity securities
Unrealized gain	$	193	$	30	$	14
Unrealized loss	(44)		(62)		(11)
Realized gain on sales and dividends	9		7		2
Realized loss on sales or impairment	(4)		—		—
Equity investments in privately held companies
Unrealized gain	15		41		65
Unrealized loss	(30)		(5)		(12)
Realized gain on sales and dividends	9		3		48
Realized loss on sales or impairment	(121)		(7)		(7)
Total gain (loss) on equity investments, net	$	27	$	7	$	99

Fair Value Measurements (Tables)

12 Months Ended

Oct. 29, 2023

Fair Value Disclosures [Abstract]

Financial Assets/Liabilities Measured At Fair Value On A Recurring Basis

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


	October 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*	$	3,361	$	—	$	3,361	$	765	$	—	$	765
Bank certificates of deposit and time deposits	—		18		18		—		7		7
U.S. Treasury and agency securities	331		43		374		404		22		426
Non-U.S. government securities	—		6		6		—		6		6
Municipal securities	—		453		453		—		386		386
Commercial paper, corporate bonds and medium-term notes	—		2,177		2,177		—		693		693
Asset-backed and mortgage-backed securities	—		487		487		—		413		413
Total available-for-sale debt security investments	$	3,692	$	3,184	$	6,876	$	1,169	$	1,527	$	2,696
Equity investments with readily determinable values

Publicly traded equity securities	$	698	$	—	$	698	$	122	$	—	$	122
Total equity investments with readily determinable values	$	698	$	—	$	698	$	122	$	—	$	122
Total	$	4,390	$	3,184	$	7,574	$	1,291	$	1,527	$	2,818

_________________________

*Amounts as of October 29, 2023 and October 30, 2022 include $101 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 Balance Sheets.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Oct. 29, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Applied Materials, Inc. and its subsidiaries (we, us, and our) after elimination of intercompany balances and transactions. All references to a fiscal year apply to our fiscal year which ends on the last Sunday in October. Fiscal 2023, 2022 and 2021 contained 52, 52 and 53 weeks, respectively. Each fiscal quarter of 2023 and 2022 contained 13 weeks. The first fiscal quarter of 2021 contained 14 weeks, while the second, third and fourth quarters of fiscal 2021 contained 13 weeks. Use of Estimates 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. On an ongoing basis, we evaluate our estimates, including those related to standalone selling price (SSP) related to revenue recognition, accounts receivable and sales allowances, fair values of financial instruments, inventories, intangible assets and goodwill, useful lives of intangible assets and property and equipment, fair values of share-based awards, warranty, and income taxes, among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Cash Equivalents All highly-liquid investments with a remaining maturity of three months or less at the time of purchase are considered to be cash equivalents. Cash equivalents consist primarily of investments in institutional money market funds and investment grade commercial paper. Investments All of our investments, except equity investments, are classified as available-for-sale at the respective balance sheet dates. Investments classified as available-for-sale are measured and recorded in the Consolidated Balance Sheets at fair value, and unrealized gains and losses, net of tax, are reported as a separate component of other comprehensive income. Interest earned on cash and investments, as well as realized gains and losses on sale of securities, are included in interest and other income, net in the Consolidated Statements of Operations. 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. Privately held equity investments without readily determinable fair value are measured at cost, less impairment, adjusted by observable price changes. Adjustments resulting from impairments and observable price changes are recorded in interest and other income, net in the Consolidated Statements of Operations. Allowance for Credit Losses We maintain an allowance for credit losses for estimated losses resulting from the inability of our customers to make required payments. This allowance is based on historical experience, credit evaluations, specific customer collection history and any customer-specific issues we have identified. Changes in circumstances, such as an unexpected material adverse change in a major customer’s ability to meet its financial obligation to us or its payment trends, may require us to further adjust our estimates of the recoverability of amounts due to us. Bad debt expense and any reversals are recorded in marketing and selling expenses in the Consolidated Statement of Operations. Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out (FIFO) basis. We adjust inventory carrying value for estimated obsolescence equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. We fully write down inventories and noncancelable purchase orders for inventory deemed obsolete. We perform periodic reviews of inventory items to identify excess inventories on hand by comparing on-hand balances to anticipated usage using recent historical activity as well as anticipated or forecasted demand. If estimates of customer demand diminish further or market conditions become less favorable than those projected by us, additional inventory adjustments may be required. Property, Plant and Equipment Property, plant and equipment is stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method. Estimated useful lives for financial reporting purposes are as follows: buildings and improvements, 3 to 30 years; demonstration and manufacturing equipment, 3 to 5 years; software, 3 to 5 years; and furniture, fixtures and other equipment, 3 to 5 years. Land improvements are amortized over the shorter of 15 years or the estimated useful life. Leasehold improvements are amortized over the shorter of five years or the lease term. In connection with our periodic review of estimated useful lives of the property, plant, and equipment subsequent to the end of fiscal 2023, we will increase the estimated useful lives of certain assets. The estimated useful lives of certain buildings and improvements will increase by 5 years. The estimated range of useful lives of demonstration and manufacturing equipment will increase to between 5 to 8 years. This change in accounting estimate will be effective beginning fiscal year 2024 and will be applied on a prospective basis to the assets on our balance sheet as of October 29, 2023, as well as to future asset purchases. Based on the carrying amount of the assets included in property, plant and equipment, net in our Consolidated Balance Sheet as of October 29, 2023, we currently estimate this change will increase income from operations before income taxes in fiscal 2024 by approximately $128 million as a result of the reduction in depreciation expense. Government Assistance We receive government assistance from various domestic and foreign governments in the form of cash grants or refundable tax credits. These arrangements incentivize us to continue growing our capital investments and research and development activities. Government incentives generally contain conditions that must be met in order for the assistance to be earned. We recognize the incentives when there is reasonable assurance that we will comply with all conditions specified in the incentive arrangement and the incentive will be received. We record capital expenditure related incentives as an offset to the associated property, plant and equipment, net within our Consolidated Balance Sheets and recognize a reduction to depreciation expense over the useful life of the corresponding acquired asset. We record incentives related to operating activities as a reduction to expense in the same line item on the Consolidated Statements of Operations as the expenditure for which the grant is intended to compensate. Capital expenditure related incentives reduced gross property, plant and equipment, net by $154 million in fiscal 2023. Contra-depreciation expense was not material in fiscal 2023. Operating incentives recognized as a reduction to research, development and engineering expense was $53 million in fiscal 2023. Capital expenditure related incentives reduced our income taxes payable by $149 million as of October 29, 2023, of which $140 million is in accounts payable and accrued expenses and $9 million is in income taxes payable, in our Consolidated Balance Sheets. Goodwill and Intangible Assets Intangible asset are generally recorded in connection with a business acquisition. The value assigned to intangible assets is usually based on estimates and judgments regarding expectations for the success and life cycle of products and technology acquired. We evaluate the useful lives of our intangible assets each reporting period to determine whether events and circumstances require revising the remaining period of amortization. In addition, we review intangible assets for impairment when events or changes in circumstances indicate their carrying value may not be recoverable. Management considers such indicators as significant differences in actual product acceptance from the estimates, changes in the competitive and economic environments, technological advances, and changes in cost structure. Intangible assets with infinite lives are not subject to amortization and 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. 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. Intangible assets with finite lives are presented at cost, net of accumulated amortization, and are amortized over their estimated useful lives of 1 to 15 years using the straight-line method. The process of evaluating the potential impairment of goodwill and intangible assets requires judgment. When reviewing goodwill for impairment, we first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. In performing a qualitative assessment, we consider business conditions and other factors including, but not limited to (i) adverse industry or economic trends, (ii) restructuring actions and lower projections that may impact future operating results, (iii) sustained decline in share price, and (iv) overall financial performance and other events affecting the reporting units. If we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a quantitative impairment test is performed by estimating the fair value of the reporting unit and comparing it to its carrying value. If the carrying value of a reporting unit exceeds its fair value, we would record an impairment charge equal to the excess of the carrying value of the reporting unit over its fair value. Long-Lived Assets We evaluate long-lived assets for impairment whenever events or changes in circumstances indicate the carrying value of an asset group may not be recoverable. We assess the fair value of the assets based on the amount of the undiscounted future cash flow that the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flow expected to result from the use of the asset, plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. When we identify an impairment, we reduce the carrying value of the group of assets to comparable market values, when available and appropriate, or to our estimated fair value based on a discounted cash flow approach. Revenue Recognition from Contracts with Customers We recognize revenue when promised goods or services are transferred to a customer in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. We determine revenue recognition through the following five steps: (1) identification of the contract(s) with customers, (2) identification of the performance obligations in the contract, (3) determination of the transaction price, (4) allocation of the transaction price to the performance obligations in the contract, and (5) recognition of revenue when, or as, a performance obligation is satisfied. Identifying the contract(s) with customers. We sell manufacturing equipment, services, and spare parts directly to our customers in the semiconductor, display, and related industries. We generally consider written documentation including, but not limited to, signed purchase orders, master agreements, and sales orders as contracts provided that collection is probable. Collectability is assessed based on the customer’s creditworthiness determined by reviewing the customer’s published credit and financial information, historical payment experience, as well as other relevant factors. Identifying the performance obligations. Our performance obligations include delivery of manufacturing equipment, service agreements, spare parts, installation, extended warranty and training. Our service agreements are considered one performance obligation and may include multiple goods and services that we provide to the customer to deliver against a performance metric. Judgment is used to determine whether multiple promised goods or services in a contract should be accounted for separately or as a group. Determine the transaction price. The transaction price for our contracts with customers may include fixed and variable consideration. We include variable consideration in the transaction price to the extent that it is probable that a significant reversal of revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Allocate the transaction price to the performance obligations. A contract’s transaction price is allocated to each distinct performance obligation identified within the contract. We generally estimate the standalone selling price of a distinct performance obligation based on historical cost plus an appropriate margin. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using the relative standalone selling price of each distinct good or service in the contract. Recognizing the revenue as performance obligations are satisfied. We recognize revenue from equipment and spares parts at a point in time when we have satisfied our performance obligation by transferring control of the goods to the customer which typically occurs at shipment or delivery. Revenue from service agreements is recognized over time, typically within 12 months, as customers receive the benefits of services. The incremental costs to obtain a contract are not material. Payment Terms. Payment terms vary by contract. Generally, the majority of payments are due within a certain number of days from shipment of goods or performance of service. The remainder is typically due upon customer technical acceptance. We typically receive deposits on future deliverables from customers in the Semiconductor Systems and Display and Adjacent Markets segments and, in certain instances, may also receive deposits from customers in the Applied Global Services segment. Our payment terms do not generally contain a significant financing component. Shipping and Handling Costs We account for shipping and handling activities related to contracts with customers as costs to fulfill our promise to transfer the associated products. Accordingly, amounts billed for shipping and handling costs are recorded as a component of net sales and costs as a component of cost of products sold. Warranty We provide for the estimated cost of warranty when revenue is recognized. Estimated warranty costs are determined by analyzing specific product, current and historical configuration statistics and regional warranty support costs. Our warranty obligation is affected by product and component failure rates, material usage and labor costs incurred in correcting product failures during the warranty period. If actual warranty costs differ substantially from our estimates, revisions to the estimated warranty liability would be required. We also sell extended warranty contracts to our customers which provide an extension of the standard warranty coverage period of up to 2 years. We receive payment at the inception of the contract and recognizes revenue ratably over the extended warranty coverage period, as the customer simultaneously receives and consumes the benefits of the extended warranty. Sales and Value Added Taxes Taxes collected from customers and remitted to governmental authorities are presented on a net basis in the Consolidated Statements of Operations. Research, Development and Engineering Costs Research, development and engineering costs are expensed as incurred. Income Taxes We recognize a current tax liability for the estimated amount of income tax payable on tax returns for the current fiscal year. Deferred tax assets and liabilities are recognized for the estimated future tax effects of temporary differences between the book and tax bases of assets and liabilities. Deferred tax assets are also recognized for net operating loss and tax credit carryovers. Deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized. Deferred tax assets and liabilities are measured based on enacted tax rates that are expected to apply in the period in which the assets are realized or the liabilities are settled. Deferred tax assets and liabilities are adjusted for the effect of a change in tax rates, laws, or status when the change is enacted. We recognize tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are estimated based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Any changes in judgment related to uncertain tax positions are recognized in our provision for income taxes in the quarter in which such change occurs. Interest and penalties related to uncertain tax positions are recognized in our provision for income taxes. Derivative Financial Instruments We use financial instruments, such as foreign currency forward and option contracts, to hedge a portion of, but not all, existing and anticipated foreign currency denominated transactions typically expected to occur within 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. In certain cases, we also use interest rate swap or lock agreements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt. The terms of derivative financial instruments used for hedging purposes are generally consistent with the timing of the transactions being hedged. Our derivative financial instruments are recorded as assets or liabilities at fair value and reported gross on our Consolidated Balance Sheets. However, under master netting agreements in place with our counterparties, we may net settle transactions of the same currency under certain circumstances. For derivative instruments designated and qualifying as cash flow hedges, the gain or loss is reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity, and is reclassified into earnings when the hedged transaction affects earnings. Any portion excluded from the assessment of effectiveness is recognized in the same line as the hedged transaction but may be recognized in a different manner, e.g. amortized. If a hedged transaction becomes probable of not occurring according to the original strategy, the hedge relationship is discontinued and we recognize the gain or loss on the associated derivative in earnings. For hedges of existing foreign currency denominated assets or liabilities, the gain or loss is recorded in earnings in the same period to offset the changes in the fair value of the assets or liabilities being hedged. Foreign Currency As of October 29, 2023, all of our subsidiaries use the United States dollar as their functional currency. Accordingly, assets and liabilities of these subsidiaries are remeasured using exchange rates in effect at the end of the period, except for non-monetary assets, such as inventories and property, plant and equipment, which are remeasured using historical exchange rates. Foreign currency-denominated revenues and costs are remeasured using average exchange rates for the period, except for costs related to the non-monetary assets and liabilities, which are remeasured using historical exchange rates. The resulting remeasurement gains and losses are included in interest and other income, net in the Consolidated Statements of Operations as incurred. Concentrations of Credit Risk Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash equivalents, investments, trade accounts receivable and derivative financial instruments used in hedging activities. We invest in a variety of financial instruments, such as, but not limited to, commercial paper, corporate bonds, municipal securities, United States Treasury and agency securities, and asset-backed and mortgage-backed securities, and, by policy, limits the amount of credit exposure with any one financial institution or commercial issuer. We are exposed to credit-related losses in the event of nonperformance by counterparties to derivative financial instruments but do not expect any counterparties to fail to meet their obligations. We perform ongoing credit evaluations of our customers’ financial condition and generally require no collateral to secure accounts receivable. We maintain an allowance for potentially uncollectible accounts receivable based on our assessment of the collectability of accounts receivable. We regularly review the allowance by considering factors such as historical experience, credit quality, age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. In addition, we utilize deposits and/or letters of credit to mitigate credit risk when considered appropriate. Recent Accounting Pronouncements Accounting Standards Adopted Disclosures by Business Entities about Government Assistance. In November 2021, the Financial Accounting Standards 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. We adopted this guidance for our fiscal 2023 Form 10-K. The adoption of this authoritative guidance only impacted the disclosures in our notes to consolidated financial statements. Accounting Standards Not Yet Adopted Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued an accounting standard update to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses (Topic 280). The standard requires interim and annual disclosure of significant segment expenses that are regularly provided to the chief operating decision-maker (CODM) and included within the reported measure of a segment’s profit or loss, requires interim disclosures about a reportable segment’s profit or loss and assets that are currently required annually, requires disclosure of the position and title of the CODM, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss and contains other disclosure requirements. This authoritative guidance will be effective for us in fiscal 2025 for annual periods and in the first quarter of fiscal 2026 for interim periods, with early adoption permitted. We are currently evaluating the effect of this new guidance on our 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 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. The impact of the adoption depends on the facts and circumstances of future acquisitions.

Accounts Receivable, Net (Details) - USD ($)	12 Months Ended
Accounts Receivable, Net (Details) - USD ($)	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Receivables [Abstract]
Accounts receivable sold	$ 700,000,000	$ 1,000,000,000	$ 1,300,000,000
Discount letters of credit issued during period	0	0	0
Discount applied to promissory notes	0	0	$ 0
Allowance for doubtful accounts	$ 29,000,000	$ 29,000,000

Balance Sheet Detail (Tables)

12 Months Ended

Oct. 29, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Inventories


	October 29, 2023		October 30, 2022

	(In millions)
Inventories
Customer service spares	$	1,589	$	1,409
Raw materials	1,653		1,807
Work-in-process	997		1,029
Finished goods
Deferred cost of sales	413		704
Evaluation inventory	423		422
Manufactured on-hand inventory	650		561
Total finished goods	1,486		1,687
Total inventories	$	5,725	$	5,932

Other Current Assets


	October 29, 2023		October 30, 2022

	(In millions)
Other Current Assets


Prepaid income taxes and income taxes receivable	$	412	$	461
Prepaid expenses and other	976		883
	$	1,388	$	1,344

Property, Plant and Equipment, Net


	Useful Life	October 29, 2023		October 30, 2022

	(In years)	(In millions)
Property, Plant and Equipment, Net
Land and improvements		$	393	$	387
Buildings and improvements	3-30	2,194		2,027
Demonstration and manufacturing equipment	3-5	2,353		2,083
Furniture, fixtures and other equipment	3-5	762		743
Construction in progress		672		389
Gross property, plant and equipment		6,374		5,629
Accumulated depreciation		(3,651)		(3,322)
		$	2,723	$	2,307

Deferred Income Taxes and Other Assets


	October 29, 2023		October 30, 2022

	(In millions)
Deferred Income Taxes and Other Assets
Non-current deferred income taxes	$	1,729	$	1,395
Operating lease right-of-use assets	370		389
Finance lease right-of-use assets	108		—
Income tax receivables and other assets	345		691
	$	2,552	$	2,475

Accounts Payable and Accrued Expenses


	October 29, 2023		October 30, 2022

	(In millions)
Accounts Payable and Accrued Expenses
Accounts payable	$	1,478	$	1,755

Compensation and employee benefits	1,024		905

Warranty	332		286
Dividends payable	267		220
Income taxes payable	282		319
Other accrued taxes	65		30
Interest payable	38		39
Operating lease liabilities, current	84		85
Finance lease liabilities, current	102		—

Other	625		598
	$	4,297	$	4,237

Other Liabilities


	October 29, 2023		October 30, 2022

	(In millions)
Other Liabilities


Defined and postretirement benefit plans	$	126	$	107
Operating lease liabilities, non-current	252		287

Other	336		338
	$	714	$	732

Warranty, Guarantees, Commitments and Contingencies

12 Months Ended

Oct. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Warranty, Guarantees, Commitments and Contingencies

Warranty

Changes in the warranty reserves during each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Beginning balance	$	286	$	242	$	201
Provisions for warranty	254		254		223
Changes in reserves related to preexisting warranty	2		11		9
Consumption of reserves	(210)		(221)		(191)
Ending balance	$	332	$	286	$	242

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 October 29, 2023, the maximum potential amount of future payments that we could be required to make under these guarantee agreements was approximately $333 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 October 29, 2023, we have provided parent guarantees to banks for approximately $293 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, government investigations or inquiries, and claims, both asserted and unasserted, that arise in the ordinary course of business. These matters are subject to uncertainties, and we cannot predict the outcome of these matters, or governmental inquiries 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 of the above-described matters will have a material effect on our consolidated financial condition or results of operations.

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. In November 2023, we received a subpoena from the U.S. Commerce Department’s Bureau of Industry and Security requesting the same information. We are cooperating fully with the government in these matters. These matters are subject to uncertainties, and we cannot predict the outcome, nor reasonably estimate a range of loss or penalties, if any, relating to these matters.

Income Taxes (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Income Tax Examination [Line Items]
Tax holiday benefit	$ 369	$ 232	$ 370
Tax holiday benefit per diluted share (in dollars per share)	$ 0.44	$ 0.26	$ 0.40
Unrecognized tax benefits, decrease resulting from settlements with taxing authorities	$ 0	$ 25	$ 0
Income tax penalties and interest expense (benefit)	34	14	14
Unrecognized tax benefits that would impact effective tax rate	386	388	442
Noncurrent Liabilities
Income Tax Examination [Line Items]
Interest and penalties related to uncertain tax positions	136	$ 103	$ 88
Foreign Tax Authority
Income Tax Examination [Line Items]
Reduction in unrecognized tax benefits (up to)	200
Research and development tax credit carryforwards \| State and Local Jurisdiction
Income Tax Examination [Line Items]
Tax credit carryforwards	536
Carried over until exhausted \| State and Local Jurisdiction
Income Tax Examination [Line Items]
Tax credit carryforwards	501
Carried over the next fifteen years \| State and Local Jurisdiction
Income Tax Examination [Line Items]
Tax credit carryforwards	$ 32
Tax credit carryforward, term	15 years
Singapore
Income Tax Examination [Line Items]
Foreign statutory income tax rate	17.00%

Summary of Significant Accounting Policies (Property Plant and Equipment Useful Life) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 27, 2024	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021	Oct. 30, 2023
Property, Plant and Equipment [Line Items]
Income from operations		$ 7,654	$ 7,788	$ 6,889
Forecast \| Useful life
Property, Plant and Equipment [Line Items]
Income from operations	$ 128
Buildings and improvements \| Subsequent event
Property, Plant and Equipment [Line Items]
Increase in useful life					5 years
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 \| Minimum
Property, Plant and Equipment [Line Items]
Useful life		3 years
Demonstration and manufacturing equipment \| Minimum \| Subsequent event
Property, Plant and Equipment [Line Items]
Useful life					5 years
Demonstration and manufacturing equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life		5 years
Demonstration and manufacturing equipment \| Maximum \| Subsequent event
Property, Plant and Equipment [Line Items]
Useful life					8 years
Software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life		3 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life		5 years
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
Land improvements \| Maximum
Property, Plant and Equipment [Line Items]
Term of amortization		15 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Term of amortization		5 years

Balance Sheet Detail (Accounts Payable and Accrued Expenses) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Accounts Payable and Accrued Expenses
Accounts payable	$ 1,478	$ 1,755
Compensation and employee benefits	1,024	905
Warranty	332	286
Dividends payable	267	220
Income taxes payable	282	319
Other accrued taxes	65	30
Interest payable	38	39
Operating lease liabilities, current	$ 84	$ 85
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Finance lease liabilities, current	$ 102	$ 0
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Other	$ 625	$ 598
Accounts payable and accrued expenses	$ 4,297	$ 4,237

Income Taxes (Valuation Allowance) (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Changes in allowance for doubtful accounts
Beginning balance	$ 460	$ 361	$ 314
Increases	70	99	47
Ending balance	$ 530	$ 460	$ 361

Income Taxes (Tables)

12 Months Ended

Oct. 29, 2023

Income Tax Disclosure [Abstract]

Components of income from operations before income taxes

The components of income before income taxes for each fiscal year were as follows:


	2023		2022		2021

	(In millions)
U.S.	$	1,234	$	1,171	$	512
Foreign	6,482		6,428		6,259
	$	7,716	$	7,599	$	6,771

Components of the provision for income taxes

The components of the provision for income taxes for each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Current:
U.S.	$	708	$	590	$	462
Foreign	456		275		344
State	54		14		17
	1,218		879		823
Deferred:
U.S.	(255)		(62)		(3)
Foreign	(61)		265		67
State	(42)		(8)		(4)
	(358)		195		60
	$	860	$	1,074	$	883

Effective income tax rate continuing operations tax rate reconciliation

A reconciliation between the statutory U.S. federal income tax rate and our actual effective income tax rate for each fiscal year is presented below:


	2023		2022		2021
Tax provision at U.S. statutory rate	21.0	%	21.0	%	21.0	%

Effect of foreign operations taxed at various rates	(8.2)		(4.4)		(7.0)
Changes in prior years’ unrecognized tax benefits	(0.2)		(0.9)		0.2
Resolutions of prior years’ income tax filings	(0.1)		(0.2)		(0.1)
Research and other tax credits	(1.6)		(1.0)		(0.9)




Other	0.2		(0.4)		(0.2)
	11.1	%	14.1	%	13.0	%

Components of deferred income tax assets and liabilities

The components of deferred income tax assets and liabilities were as follows:


	October 29, 2023		October 30, 2022

	(In millions)
Deferred tax assets:
Capitalized R&D expenses	$	83	$	—
Allowance for doubtful accounts	4		5
Inventory reserves and basis difference	125		131
Installation and warranty reserves	35		29
Intangible assets	1,031		984
Accrued liabilities	19		35

Deferred revenue	72		82

Tax credits	536		453
Deferred compensation	217		125
Share-based compensation	50		42
Property, plant and equipment	9		—
Lease liability	98		81
Other	96		67
Gross deferred tax assets	2,375		2,034
Valuation allowance	(530)		(460)
Total deferred tax assets	1,845		1,574
Deferred tax liabilities:
Property, plant and equipment	—		(111)
Right of use assets	(103)		(80)

Undistributed foreign earnings	(23)		(39)


Total deferred tax liabilities	(126)		(230)
Net deferred tax assets	$	1,719	$	1,344

Summary of valuation allowance

Changes in the valuation allowance in each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Beginning balance	$	460	$	361	$	314
Increases	70		99		47

Ending balance	$	530	$	460	$	361

A reconciliation of gross unrecognized tax benefits

A reconciliation of the beginning and ending balances of gross unrecognized tax benefits in each fiscal year is as follows:


	2023		2022		2021

	(In millions)
Beginning balance of gross unrecognized tax benefits	$	498	$	537	$	496

Settlements with tax authorities	—		(25)		—
Lapses of statutes of limitation	—		—		(4)
Increases in tax positions for current year	28		26		26
Increases in tax positions for prior years	—		28		23
Decreases in tax positions for prior years	(16)		(68)		(4)
Ending balance of gross unrecognized tax benefits	$	510	$	498	$	537

Fair Value Measurements

12 Months Ended

Oct. 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 October 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 or quoted prices.

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:


	October 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*	$	3,361	$	—	$	3,361	$	765	$	—	$	765
Bank certificates of deposit and time deposits	—		18		18		—		7		7
U.S. Treasury and agency securities	331		43		374		404		22		426
Non-U.S. government securities	—		6		6		—		6		6
Municipal securities	—		453		453		—		386		386
Commercial paper, corporate bonds and medium-term notes	—		2,177		2,177		—		693		693
Asset-backed and mortgage-backed securities	—		487		487		—		413		413
Total available-for-sale debt security investments	$	3,692	$	3,184	$	6,876	$	1,169	$	1,527	$	2,696
Equity investments with readily determinable values

Publicly traded equity securities	$	698	$	—	$	698	$	122	$	—	$	122
Total equity investments with readily determinable values	$	698	$	—	$	698	$	122	$	—	$	122
Total	$	4,390	$	3,184	$	7,574	$	1,291	$	1,527	$	2,818

_________________________

We did not have any financial assets measured at fair value on a recurring basis within Level 3 fair value measurements as of October 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 are 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 losses on equity investments in privately held companies, included in the above table, were not material during fiscal 2022 and 2021 and were $121 million during fiscal 2023. These impairment losses are included in interest and other income (expense), net in the Consolidated Statement of Operations.

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. At October 29, 2023, the aggregate principal amount of long-term senior unsecured notes was $5.5 billion, and the estimated fair value was $4.7 billion. At 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 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

Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Finite-lived intangible assets
Intangible assets with finite lives:	$ 2,310	$ 2,294
Accumulated Amortization	(2,016)	(1,972)
Total	294	322
Intangible assets with infinite lives:	0	17
Intangible assets, gross (excluding goodwill)	2,310	2,311
Intangible assets, net (excluding goodwill)	294	339
Operating Segments \| Semiconductor Systems
Finite-lived intangible assets
Intangible assets with finite lives:	2,001	1,985
Accumulated Amortization	(1,714)	(1,675)
Total	287	310
Intangible assets with infinite lives:	0	16
Operating Segments \| Applied Global Services
Finite-lived intangible assets
Intangible assets with finite lives:	79	79
Accumulated Amortization	(78)	(77)
Total	1	2
Operating Segments \| Display and Adjacent Markets
Finite-lived intangible assets
Intangible assets with finite lives:	194	194
Accumulated Amortization	(194)	(194)
Total	0	0
Corporate and Other
Finite-lived intangible assets
Intangible assets with finite lives:	36	36
Accumulated Amortization	(30)	(26)
Total	6	10
Intangible assets with infinite lives:	$ 0	$ 1

Summary of Significant Accounting Policies (Government Assistance) (Details) $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($)
Government Assistance [Line Items]
Government assistance statement of income, extensible enumeration, not disclosed	capital expenditure
Capital expenditure incentives
Government Assistance [Line Items]
Government assistance amount	$ 154
Contra-depreciation expense
Government Assistance [Line Items]
Government assistance amount	0
Reduction to research, development and engineering expense
Government Assistance [Line Items]
Government assistance amount	53
Reduction to income taxes payable
Government Assistance [Line Items]
Government assistance, accrual amount	149
Reduction to income taxes payable \| Accounts payable and accrued expenses
Government Assistance [Line Items]
Government assistance, accrual amount	140
Reduction to income taxes payable \| Income taxes payable
Government Assistance [Line Items]
Government assistance, accrual amount	$ 9

Contract Balances and Performance Obligations - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 274	$ 173
Contract liabilities	$ 2,975	$ 3,142

Cash, Cash Equivalents and Investments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Cash and Cash Equivalents [Abstract]
Interest income, net	$ 262	$ 44	$ 26
Impairment losses on equity investments	$ 121

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Cash flows from operating activities:
Net income	$ 6,856	$ 6,525	$ 5,888
Adjustments required to reconcile net income to cash provided by operating activities:
Depreciation and amortization	515	444	394
Severance and related charges	0	(4)	148
Deferred income taxes	24	(223)	80
Other	40	36	(70)
Share-based compensation	490	413	346
Changes in operating assets and liabilities, net of amounts acquired:
Accounts receivable	903	(1,109)	(1,989)
Inventories	207	(1,590)	(405)
Other current and non-current assets	(48)	(16)	(602)
Accounts payable and accrued expenses	(138)	390	465
Contract liabilities	(167)	1,039	755
Income taxes payable	(20)	(541)	396
Other liabilities	38	35	36
Cash provided by operating activities	8,700	5,399	5,442
Cash flows from investing activities:
Capital expenditures	(1,106)	(787)	(668)
Cash paid for acquisitions, net of cash acquired	(25)	(441)	(12)
Proceeds from sales and maturities of investments	1,268	1,363	1,471
Purchases of investments	(1,672)	(1,492)	(2,007)
Cash used in investing activities	(1,535)	(1,357)	(1,216)
Cash flows from financing activities:
Proceeds from commercial paper	991	0	0
Repayments of commercial paper	(900)	0	0
Proceeds from common stock issuances	227	199	175
Common stock repurchases	(2,189)	(6,103)	(3,750)
Tax withholding payments for vested equity awards	(179)	(266)	(178)
Payments of dividends to stockholders	(975)	(873)	(838)
Repayments of principals on finance leases	(7)	0	0
Cash used in financing activities	(3,032)	(7,043)	(4,591)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents	4,133	(3,001)	(365)
Cash, cash equivalents and restricted cash equivalents — beginning of period	2,100	5,101	5,466
Cash, cash equivalents and restricted cash equivalents — end of period	6,233	2,100	5,101
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	6,132	1,995	4,995
Restricted cash equivalents included in deferred income taxes and other assets	101	105	106
Total cash, cash equivalents, and restricted cash equivalents	6,233	2,100	5,101
Supplemental cash flow information:
Cash payments for income taxes	1,006	1,869	851
Cash refunds from income taxes	53	156	27
Cash payments for interest	$ 205	$ 205	$ 205

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Numerator:
Net income	$ 6,856	$ 6,525	$ 5,888
Denominator:
Weighted average common shares outstanding (in shares)	840	871	910
Effect of weighted dilutive restricted stock units and employee stock purchase plan shares (in shares)	5	6	9
Denominator for diluted earnings per share (in shares)	845	877	919
Basic earnings per share (in dollars per share)	$ 8.16	$ 7.49	$ 6.47
Diluted earnings per share (in dollars per share)	$ 8.11	$ 7.44	$ 6.40
Potentially weighted dilutive securities (in shares)	0	3	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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+ Details

- Definition

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

+ References

+ Details

Stockholders' Equity, Comprehensive Income and Share-Based Compensation (Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 12,194	$ 12,247	$ 10,578
Other comprehensive income (loss) before reclassifications	(11)	111	34
Amounts reclassified out of AOCI	(4)	(53)	5
Other comprehensive income (loss), net of tax	(15)	58	39
Ending Balance	16,349	12,194	12,247
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(202)	(260)	(299)
Other comprehensive income (loss), net of tax	(15)	58	39
Ending Balance	(217)	(202)	(260)
Unrealized Gain (Loss) on Investments, Net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(75)	(1)	20
Other comprehensive income (loss) before reclassifications	16	(60)	(14)
Amounts reclassified out of AOCI	9	(14)	(7)
Other comprehensive income (loss), net of tax	25	(74)	(21)
Ending Balance	(50)	(75)	(1)
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)	(133)
Other comprehensive income (loss) before reclassifications	(44)	100	28
Amounts reclassified out of AOCI	(22)	(49)	2
Other comprehensive income (loss), net of tax	(66)	51	30
Ending Balance	(118)	(52)	(103)
Defined and Postretirement Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(88)	(169)	(199)
Other comprehensive income (loss) before reclassifications	17	71	20
Amounts reclassified out of AOCI	9	10	10
Other comprehensive income (loss), net of tax	26	81	30
Ending Balance	(62)	(88)	(169)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	13	13	13
Other comprehensive income (loss) before reclassifications	0	0	0
Amounts reclassified out of AOCI	0	0	0
Other comprehensive income (loss), net of tax	0	0	0
Ending Balance	$ 13	$ 13	$ 13

Borrowing Facilities and Debt (Narrative) (Details) - USD ($)	1 Months Ended
	Feb. 29, 2020	Oct. 29, 2023	Oct. 30, 2022
Line of Credit Facility [Line Items]
Short-term debt		$ 100,000,000	$ 0
Commercial paper
Line of Credit Facility [Line Items]
Commercial paper program amount		1,500,000,000
Short-term debt		$ 100,000,000	0
Debt, weighted average interest rate		5.39%
Debt securities, threshold period past due		90 days
Revolving Credit \| Unsecured Debt
Line of Credit Facility [Line Items]
Debt instrument term	5 years
Available revolving credit agreement	$ 1,500,000,000
Accordion feature, increase limit	500,000,000
Accordion feature, higher borrowing capacity option	$ 2,000,000,000
Amount outstanding		$ 0	0
Foreign Line of Credit
Line of Credit Facility [Line Items]
Available revolving credit agreement		53,000,000
Amount outstanding		$ 0	$ 0

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($) $ in Billions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Time period for hedging of foreign currency transactions	24 months
Amortization period for the loss on settlement of interest rate swap agreement	12 months
Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 1.7	$ 2.1

Leases - Lease Maturities (Details) $ in Millions	Oct. 29, 2023 USD ($)
Operating Leases
2024	$ 93
2025	82
2026	47
2027	37
2028	30
Thereafter	81
Total lease payments	370
Less imputed interest	(34)
Total	336
Finance Leases
2024	106
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total lease payments	106
Less imputed interest	(4)
Total	$ 102

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 - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021	Oct. 25, 2020
Shares
Beginning Balance (shares)	11	13	15
Granted (shares)	6	4	5
Vested (shares)	(5)	(5)	(6)
Canceled (shares)	0	(1)	(1)
Ending Balance (shares)	12	11	13	15
Non-vested restricted stock units, restricted stock, performance shares and performance units expected to vest (in shares)	11
Weighted Average Grant Date Fair Value
Beginning of Period (in dollars per share)	$ 92.31	$ 63.29	$ 45.36
Granted (in dollars per share)	104.00	132.44	92.04
Vested (in dollars per share)	72.49	54.00	43.11
Canceled (in dollars per share)	103.73	82.54	59.41
Ending Balance (in dollars per share)	106.24	$ 92.31	$ 63.29	$ 45.36
Non-vested restricted stock units, restricted stock, performance shares and performance units expected to vest (in dollars per share)	$ 107.26
Weighted Average Remaining Contractual Term
Weighted average remaining contractual term	2 years 4 months 24 days	2 years 2 months 12 days	2 years 2 months 12 days	2 years 2 months 12 days
Non-vested restricted stock units, restricted stock, performance shares and performance units expected to vest, Weighted Average Remaining Contractual Term	2 years 3 months 18 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value	$ 1,524	$ 1,024	$ 1,752	$ 914
Expected to vest, Aggregate Intrinsic Value	$ 1,495

Warranty, Guarantees, Commitments and Contingencies (Tables)

12 Months Ended

Oct. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Changes in the warranty reserves

Changes in the warranty reserves during each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Beginning balance	$	286	$	242	$	201
Provisions for warranty	254		254		223
Changes in reserves related to preexisting warranty	2		11		9
Consumption of reserves	(210)		(221)		(191)
Ending balance	$	332	$	286	$	242

Borrowing Facilities and Debt

12 Months Ended

Oct. 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. The Revolving Credit Agreement is scheduled to expire in February 2026, unless 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 October 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 $53 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 October 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 commercial paper are used for general corporate purposes. At October 29, 2023, we had $100 million of commercial paper notes outstanding and recorded as short-term debt with a weighted-average interest rate of 5.39% and maturities of 90 days, and as of October 30, 2022, we did not have any commercial paper notes outstanding.

Senior Unsecured Notes

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


	Principal Amount
	October 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	(11)		(12)
Total unamortized debt issuance costs	(28)		(31)
Total long-term debt	$	5,461	$	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.

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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Goodwill and Intangible Assets

12 Months Ended

Oct. 29, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

As of October 29, 2023, our reporting units include Semiconductor Products Group and Imaging and Process Control Group, which combine to form the Semiconductor Systems reporting segment, Applied Global Services, Display and Adjacent Markets and other reporting units recorded under Corporate and Other.

Our methodology for allocating the purchase price relating to purchase acquisitions is determined through established and generally accepted valuation techniques. Goodwill is measured as the excess of the purchase price over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. We assign assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. Typically, acquisitions relate to a single reporting unit and thus do not require the allocation of goodwill to multiple reporting units. If the products obtained in an acquisition are assigned to multiple reporting units, the goodwill is distributed to the respective reporting units as part of the purchase price allocation process.

Goodwill

In the fourth quarter of fiscal 2023, we performed a qualitative assessment to test goodwill for all of our reporting units for impairment. We determined that it was more likely than not that each of our reporting units’ fair values exceeded their respective carrying values and that it was not necessary to perform the quantitative goodwill impairment test for any of our reporting units. The evaluation of goodwill and intangible assets for impairment requires the exercise of significant judgment. In the event of future changes in business conditions, we will be required to reassess and update our forecasts and estimates used in future impairment analyses. If the results of these future analyses are lower than current estimates, a material impairment charge may result at that time.

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


	October 29, 2023		October 30, 2022

	(In millions)
Goodwill by reportable segment
Semiconductor Systems	$	2,460	$	2,428
Applied Global Services	1,032		1,032
Display and Adjacent Markets	199		199
Corporate and Other	41		41
	$	3,732	$	3,700

From time to time, we acquire companies related to our existing or new markets. During fiscal 2023, goodwill increased primarily due to the preliminary purchase accounting for acquisitions, net of adjustments, which were not material to our results of operations or to our balance sheet.

Intangible Assets

Details of intangible assets other than goodwill were as follows:


	October 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 Group	$	2,001	$	(1,714)	$	287	$	1,985	$	(1,675)	$	310
Applied Global Services	79		(78)		1		79		(77)		2
Display and Adjacent Markets	194		(194)		—		194		(194)		—
Corporate & Other	36		(30)		6		36		(26)		10
Total intangible assets with finite lives	$	2,310	$	(2,016)	$	294	$	2,294	$	(1,972)	$	322
Intangible assets with infinite lives:
Semiconductor Systems Group	$	—	$	—	$	—	$	16	$	—	$	16


Corporate & Other	—		—		—		1		—		1
Total intangible assets with infinite lives	$	—	$	—	$	—	$	17	$	—	$	17

Total intangible assets	$	2,310	$	(2,016)	$	294	$	2,311	$	(1,972)	$	339

The increase in intangible assets with finite lives during fiscal 2023 was primarily due to the preliminary purchase accounting for acquisitions during fiscal 2023, which were not material to our results of operations.

Amortization expense of intangible assets was $44 million, $40 million and $49 million during fiscal 2023, 2022 and 2021, respectively.

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


	Amortization Expense
	(In millions)
2024	$	43
2025	41
2026	39
2027	26
2028	23
Thereafter	122
Total	$	294

Industry Segment Operations (Net Sales and Long-lived Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 26,517	$ 25,785	$ 23,063
Long-lived assets	3,436	2,897
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	4,006	3,104	2,038
Long-lived assets	3,239	2,725
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	7,247	7,254	7,535
Long-lived assets	4	6
Korea
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	4,609	4,395	5,012
Long-lived assets	11	14
Taiwan
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	5,670	6,262	4,742
Long-lived assets	59	62
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	2,075	2,012	1,962
Long-lived assets	7	7
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	2,152	1,674	1,097
Long-lived assets	110	75
Southeast Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	758	1,084	677
Long-lived assets	6	8
Total outside United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	22,511	22,681	$ 21,025
Long-lived assets	$ 197	$ 172

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 29, 2023
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Applied Materials, Inc. and its subsidiaries (we, us, and our) after elimination of intercompany balances and transactions. All references to a fiscal year apply to our fiscal year which ends on the last Sunday in October. Fiscal 2023, 2022 and 2021 contained 52, 52 and 53 weeks, respectively. Each fiscal quarter of 2023 and 2022 contained 13 weeks. The first fiscal quarter of 2021 contained 14 weeks, while the second, third and fourth quarters of fiscal 2021 contained 13 weeks.
Use of Estimates	Use of Estimates 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. On an ongoing basis, we evaluate our estimates, including those related to standalone selling price (SSP) related to revenue recognition, accounts receivable and sales allowances, fair values of financial instruments, inventories, intangible assets and goodwill, useful lives of intangible assets and property and equipment, fair values of share-based awards, warranty, and income taxes, among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Cash Equivalents	Cash Equivalents All highly-liquid investments with a remaining maturity of three months or less at the time of purchase are considered to be cash equivalents. Cash equivalents consist primarily of investments in institutional money market funds and investment grade commercial paper.
Investments	Investments All of our investments, except equity investments, are classified as available-for-sale at the respective balance sheet dates. Investments classified as available-for-sale are measured and recorded in the Consolidated Balance Sheets at fair value, and unrealized gains and losses, net of tax, are reported as a separate component of other comprehensive income. Interest earned on cash and investments, as well as realized gains and losses on sale of securities, are included in interest and other income, net in the Consolidated Statements of Operations. 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. Privately held equity investments without readily determinable fair value are measured at cost, less impairment, adjusted by observable price changes. Adjustments resulting from impairments and observable price changes are recorded in interest and other income, net in the Consolidated Statements of Operations.
Allowance for Credit Losses	Allowance for Credit Losses We maintain an allowance for credit losses for estimated losses resulting from the inability of our customers to make required payments. This allowance is based on historical experience, credit evaluations, specific customer collection history and any customer-specific issues we have identified. Changes in circumstances, such as an unexpected material adverse change in a major customer’s ability to meet its financial obligation to us or its payment trends, may require us to further adjust our estimates of the recoverability of amounts due to us. Bad debt expense and any reversals are recorded in marketing and selling expenses in the Consolidated Statement of Operations.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out (FIFO) basis. We adjust inventory carrying value for estimated obsolescence equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. We fully write down inventories and noncancelable purchase orders for inventory deemed obsolete. We perform periodic reviews of inventory items to identify excess inventories on hand by comparing on-hand balances to anticipated usage using recent historical activity as well as anticipated or forecasted demand. If estimates of customer demand diminish further or market conditions become less favorable than those projected by us, additional inventory adjustments may be required.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is stated at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method. Estimated useful lives for financial reporting purposes are as follows: buildings and improvements, 3 to 30 years; demonstration and manufacturing equipment, 3 to 5 years; software, 3 to 5 years; and furniture, fixtures and other equipment, 3 to 5 years. Land improvements are amortized over the shorter of 15 years or the estimated useful life. Leasehold improvements are amortized over the shorter of five years or the lease term. In connection with our periodic review of estimated useful lives of the property, plant, and equipment subsequent to the end of fiscal 2023, we will increase the estimated useful lives of certain assets. The estimated useful lives of certain buildings and improvements will increase by 5 years. The estimated range of useful lives of demonstration and manufacturing equipment will increase to between 5 to 8 years. This change in accounting estimate will be effective beginning fiscal year 2024 and will be applied on a prospective basis to the assets on our balance sheet as of October 29, 2023, as well as to future asset purchases. Based on the carrying amount of the assets included in property, plant and equipment, net in our Consolidated Balance Sheet as of October 29, 2023, we currently estimate this change will increase income from operations before income taxes in fiscal 2024 by approximately $128 million as a result of the reduction in depreciation expense.
Government Assistance	Government Assistance We receive government assistance from various domestic and foreign governments in the form of cash grants or refundable tax credits. These arrangements incentivize us to continue growing our capital investments and research and development activities. Government incentives generally contain conditions that must be met in order for the assistance to be earned. We recognize the incentives when there is reasonable assurance that we will comply with all conditions specified in the incentive arrangement and the incentive will be received. We record capital expenditure related incentives as an offset to the associated property, plant and equipment, net within our Consolidated Balance Sheets and recognize a reduction to depreciation expense over the useful life of the corresponding acquired asset. We record incentives related to operating activities as a reduction to expense in the same line item on the Consolidated Statements of Operations as the expenditure for which the grant is intended to compensate. Capital expenditure related incentives reduced gross property, plant and equipment, net by $154 million in fiscal 2023. Contra-depreciation expense was not material in fiscal 2023. Operating incentives recognized as a reduction to research, development and engineering expense was $53 million in fiscal 2023. Capital expenditure related incentives reduced our income taxes payable by $149 million as of October 29, 2023, of which $140 million is in accounts payable and accrued expenses and $9 million is in income taxes payable, in our Consolidated Balance Sheets.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Intangible asset are generally recorded in connection with a business acquisition. The value assigned to intangible assets is usually based on estimates and judgments regarding expectations for the success and life cycle of products and technology acquired. We evaluate the useful lives of our intangible assets each reporting period to determine whether events and circumstances require revising the remaining period of amortization. In addition, we review intangible assets for impairment when events or changes in circumstances indicate their carrying value may not be recoverable. Management considers such indicators as significant differences in actual product acceptance from the estimates, changes in the competitive and economic environments, technological advances, and changes in cost structure. Intangible assets with infinite lives are not subject to amortization and 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. 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. Intangible assets with finite lives are presented at cost, net of accumulated amortization, and are amortized over their estimated useful lives of 1 to 15 years using the straight-line method. The process of evaluating the potential impairment of goodwill and intangible assets requires judgment. When reviewing goodwill for impairment, we first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. In performing a qualitative assessment, we consider business conditions and other factors including, but not limited to (i) adverse industry or economic trends, (ii) restructuring actions and lower projections that may impact future operating results, (iii) sustained decline in share price, and (iv) overall financial performance and other events affecting the reporting units. If we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a quantitative impairment test is performed by estimating the fair value of the reporting unit and comparing it to its carrying value. If the carrying value of a reporting unit exceeds its fair value, we would record an impairment charge equal to the excess of the carrying value of the reporting unit over its fair value.
Long-Lived Assets	Long-Lived Assets We evaluate long-lived assets for impairment whenever events or changes in circumstances indicate the carrying value of an asset group may not be recoverable. We assess the fair value of the assets based on the amount of the undiscounted future cash flow that the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flow expected to result from the use of the asset, plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. When we identify an impairment, we reduce the carrying value of the group of assets to comparable market values, when available and appropriate, or to our estimated fair value based on a discounted cash flow approach.
Revenue Recognition from Contracts with Customers	Revenue Recognition from Contracts with Customers We recognize revenue when promised goods or services are transferred to a customer in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. We determine revenue recognition through the following five steps: (1) identification of the contract(s) with customers, (2) identification of the performance obligations in the contract, (3) determination of the transaction price, (4) allocation of the transaction price to the performance obligations in the contract, and (5) recognition of revenue when, or as, a performance obligation is satisfied. Identifying the contract(s) with customers. We sell manufacturing equipment, services, and spare parts directly to our customers in the semiconductor, display, and related industries. We generally consider written documentation including, but not limited to, signed purchase orders, master agreements, and sales orders as contracts provided that collection is probable. Collectability is assessed based on the customer’s creditworthiness determined by reviewing the customer’s published credit and financial information, historical payment experience, as well as other relevant factors. Identifying the performance obligations. Our performance obligations include delivery of manufacturing equipment, service agreements, spare parts, installation, extended warranty and training. Our service agreements are considered one performance obligation and may include multiple goods and services that we provide to the customer to deliver against a performance metric. Judgment is used to determine whether multiple promised goods or services in a contract should be accounted for separately or as a group. Determine the transaction price. The transaction price for our contracts with customers may include fixed and variable consideration. We include variable consideration in the transaction price to the extent that it is probable that a significant reversal of revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Allocate the transaction price to the performance obligations. A contract’s transaction price is allocated to each distinct performance obligation identified within the contract. We generally estimate the standalone selling price of a distinct performance obligation based on historical cost plus an appropriate margin. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using the relative standalone selling price of each distinct good or service in the contract. Recognizing the revenue as performance obligations are satisfied. We recognize revenue from equipment and spares parts at a point in time when we have satisfied our performance obligation by transferring control of the goods to the customer which typically occurs at shipment or delivery. Revenue from service agreements is recognized over time, typically within 12 months, as customers receive the benefits of services. The incremental costs to obtain a contract are not material. Payment Terms. Payment terms vary by contract. Generally, the majority of payments are due within a certain number of days from shipment of goods or performance of service. The remainder is typically due upon customer technical acceptance. We typically receive deposits on future deliverables from customers in the Semiconductor Systems and Display and Adjacent Markets segments and, in certain instances, may also receive deposits from customers in the Applied Global Services segment. Our payment terms do not generally contain a significant financing component. Shipping and Handling Costs We account for shipping and handling activities related to contracts with customers as costs to fulfill our promise to transfer the associated products. Accordingly, amounts billed for shipping and handling costs are recorded as a component of net sales and costs as a component of cost of products sold.
Warranty	Warranty We provide for the estimated cost of warranty when revenue is recognized. Estimated warranty costs are determined by analyzing specific product, current and historical configuration statistics and regional warranty support costs. Our warranty obligation is affected by product and component failure rates, material usage and labor costs incurred in correcting product failures during the warranty period. If actual warranty costs differ substantially from our estimates, revisions to the estimated warranty liability would be required. We also sell extended warranty contracts to our customers which provide an extension of the standard warranty coverage period of up to 2 years. We receive payment at the inception of the contract and recognizes revenue ratably over the extended warranty coverage period, as the customer simultaneously receives and consumes the benefits of the extended warranty.
Sales and Value Added Taxes	Sales and Value Added Taxes Taxes collected from customers and remitted to governmental authorities are presented on a net basis in the Consolidated Statements of Operations.
Research, Development and Engineering Costs	Research, Development and Engineering Costs Research, development and engineering costs are expensed as incurred.
Income Taxes	Income Taxes We recognize a current tax liability for the estimated amount of income tax payable on tax returns for the current fiscal year. Deferred tax assets and liabilities are recognized for the estimated future tax effects of temporary differences between the book and tax bases of assets and liabilities. Deferred tax assets are also recognized for net operating loss and tax credit carryovers. Deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized. Deferred tax assets and liabilities are measured based on enacted tax rates that are expected to apply in the period in which the assets are realized or the liabilities are settled. Deferred tax assets and liabilities are adjusted for the effect of a change in tax rates, laws, or status when the change is enacted. We recognize tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are estimated based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Any changes in judgment related to uncertain tax positions are recognized in our provision for income taxes in the quarter in which such change occurs. Interest and penalties related to uncertain tax positions are recognized in our provision for income taxes.
Derivative Financial Instruments	Derivative Financial Instruments We use financial instruments, such as foreign currency forward and option contracts, to hedge a portion of, but not all, existing and anticipated foreign currency denominated transactions typically expected to occur within 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. In certain cases, we also use interest rate swap or lock agreements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt. The terms of derivative financial instruments used for hedging purposes are generally consistent with the timing of the transactions being hedged. Our derivative financial instruments are recorded as assets or liabilities at fair value and reported gross on our Consolidated Balance Sheets. However, under master netting agreements in place with our counterparties, we may net settle transactions of the same currency under certain circumstances. For derivative instruments designated and qualifying as cash flow hedges, the gain or loss is reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity, and is reclassified into earnings when the hedged transaction affects earnings. Any portion excluded from the assessment of effectiveness is recognized in the same line as the hedged transaction but may be recognized in a different manner, e.g. amortized. If a hedged transaction becomes probable of not occurring according to the original strategy, the hedge relationship is discontinued and we recognize the gain or loss on the associated derivative in earnings. For hedges of existing foreign currency denominated assets or liabilities, the gain or loss is recorded in earnings in the same period to offset the changes in the fair value of the assets or liabilities being hedged.
Foreign Currency	Foreign Currency As of October 29, 2023, all of our subsidiaries use the United States dollar as their functional currency. Accordingly, assets and liabilities of these subsidiaries are remeasured using exchange rates in effect at the end of the period, except for non-monetary assets, such as inventories and property, plant and equipment, which are remeasured using historical exchange rates. Foreign currency-denominated revenues and costs are remeasured using average exchange rates for the period, except for costs related to the non-monetary assets and liabilities, which are remeasured using historical exchange rates. The resulting remeasurement gains and losses are included in interest and other income, net in the Consolidated Statements of Operations as incurred.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash equivalents, investments, trade accounts receivable and derivative financial instruments used in hedging activities. We invest in a variety of financial instruments, such as, but not limited to, commercial paper, corporate bonds, municipal securities, United States Treasury and agency securities, and asset-backed and mortgage-backed securities, and, by policy, limits the amount of credit exposure with any one financial institution or commercial issuer. We are exposed to credit-related losses in the event of nonperformance by counterparties to derivative financial instruments but do not expect any counterparties to fail to meet their obligations. We perform ongoing credit evaluations of our customers’ financial condition and generally require no collateral to secure accounts receivable. We maintain an allowance for potentially uncollectible accounts receivable based on our assessment of the collectability of accounts receivable. We regularly review the allowance by considering factors such as historical experience, credit quality, age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. In addition, we utilize deposits and/or letters of credit to mitigate credit risk when considered appropriate.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted Disclosures by Business Entities about Government Assistance. In November 2021, the Financial Accounting Standards 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. We adopted this guidance for our fiscal 2023 Form 10-K. The adoption of this authoritative guidance only impacted the disclosures in our notes to consolidated financial statements. Accounting Standards Not Yet Adopted Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued an accounting standard update to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses (Topic 280). The standard requires interim and annual disclosure of significant segment expenses that are regularly provided to the chief operating decision-maker (CODM) and included within the reported measure of a segment’s profit or loss, requires interim disclosures about a reportable segment’s profit or loss and assets that are currently required annually, requires disclosure of the position and title of the CODM, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss and contains other disclosure requirements. This authoritative guidance will be effective for us in fiscal 2025 for annual periods and in the first quarter of fiscal 2026 for interim periods, with early adoption permitted. We are currently evaluating the effect of this new guidance on our 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 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. The impact of the adoption depends on the facts and circumstances of future acquisitions.
Investment Impairment	We regularly review our fixed income 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 (expense), net. Any additional changes in fair value that are not related to credit losses are recognized in accumulated other comprehensive income (loss) (AOCI).
Fair Value Measurements	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 October 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 or quoted prices. 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 are 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 losses on equity investments in privately held companies, included in the above table, were not material during fiscal 2022 and 2021 and were $121 million during fiscal 2023. These impairment losses are included in interest and other income (expense), net in the Consolidated Statement of Operations.
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 at October 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 recognize the gain or loss on the associated financial instrument in the consolidated 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 fiscal years 2023, 2022 or 2021.
Contract Assets and Liabilities	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 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.
Goodwill	As of October 29, 2023, our reporting units include Semiconductor Products Group and Imaging and Process Control Group, which combine to form the Semiconductor Systems reporting segment, Applied Global Services, Display and Adjacent Markets and other reporting units recorded under Corporate and Other. Our methodology for allocating the purchase price relating to purchase acquisitions is determined through established and generally accepted valuation techniques. Goodwill is measured as the excess of the purchase price over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. We assign assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. Typically, acquisitions relate to a single reporting unit and thus do not require the allocation of goodwill to multiple reporting units. If the products obtained in an acquisition are assigned to multiple reporting units, the goodwill is distributed to the respective reporting units as part of the purchase price allocation process. Goodwill In the fourth quarter of fiscal 2023, we performed a qualitative assessment to test goodwill for all of our reporting units for impairment. We determined that it was more likely than not that each of our reporting units’ fair values exceeded their respective carrying values and that it was not necessary to perform the quantitative goodwill impairment test for any of our reporting units. The evaluation of goodwill and intangible assets for impairment requires the exercise of significant judgment. In the event of future changes in business conditions, we will be required to reassess and update our forecasts and estimates used in future impairment analyses. If the results of these future analyses are lower than current estimates, a material impairment charge may result at that time.
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.
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	The cost associated with share-based awards is typically recognized over the awards’ service period for the entire award on a straight-line basis, adjusting for estimated forfeitures. However, in the case of share-based awards granted to certain members of senior management that allow for partial accelerated vesting in the event of a qualifying retirement based on age and years of service, the compensation expense is recognized once the individual meets the conditions for a qualifying retirement. We calculate estimated forfeiture rate on an annual basis, based on historical forfeiture activities. 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.
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.

Contract Balances and Performance Obligations (Tables)

12 Months Ended

Oct. 29, 2023

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

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


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

Contract assets	$	274	$	173
Contract liabilities	$	2,975	$	3,142

Balance Sheet Detail (Other Liabilities) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Other Liabilities
Defined and postretirement benefit plans	$ 126	$ 107	$ 193
Operating lease liabilities, non-current	$ 252	$ 287
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total other liabilities	Total other liabilities
Other	$ 336	$ 338
Total other liabilities	$ 714	$ 732

Goodwill and Intangible Assets (Tables)

12 Months Ended

Oct. 29, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

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


	October 29, 2023		October 30, 2022

	(In millions)
Goodwill by reportable segment
Semiconductor Systems	$	2,460	$	2,428
Applied Global Services	1,032		1,032
Display and Adjacent Markets	199		199
Corporate and Other	41		41
	$	3,732	$	3,700

Schedule of Finite-lived Intangible Assets

Details of intangible assets other than goodwill were as follows:


	October 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 Group	$	2,001	$	(1,714)	$	287	$	1,985	$	(1,675)	$	310
Applied Global Services	79		(78)		1		79		(77)		2
Display and Adjacent Markets	194		(194)		—		194		(194)		—
Corporate & Other	36		(30)		6		36		(26)		10
Total intangible assets with finite lives	$	2,310	$	(2,016)	$	294	$	2,294	$	(1,972)	$	322
Intangible assets with infinite lives:
Semiconductor Systems Group	$	—	$	—	$	—	$	16	$	—	$	16


Corporate & Other	—		—		—		1		—		1
Total intangible assets with infinite lives	$	—	$	—	$	—	$	17	$	—	$	17

Total intangible assets	$	2,310	$	(2,016)	$	294	$	2,311	$	(1,972)	$	339

Schedule of Indefinite-Lived Intangible Assets

Details of intangible assets other than goodwill were as follows:


	October 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 Group	$	2,001	$	(1,714)	$	287	$	1,985	$	(1,675)	$	310
Applied Global Services	79		(78)		1		79		(77)		2
Display and Adjacent Markets	194		(194)		—		194		(194)		—
Corporate & Other	36		(30)		6		36		(26)		10
Total intangible assets with finite lives	$	2,310	$	(2,016)	$	294	$	2,294	$	(1,972)	$	322
Intangible assets with infinite lives:
Semiconductor Systems Group	$	—	$	—	$	—	$	16	$	—	$	16


Corporate & Other	—		—		—		1		—		1
Total intangible assets with infinite lives	$	—	$	—	$	—	$	17	$	—	$	17

Total intangible assets	$	2,310	$	(2,016)	$	294	$	2,311	$	(1,972)	$	339

Future Estimated Amortization Expense

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


	Amortization Expense
	(In millions)
2024	$	43
2025	41
2026	39
2027	26
2028	23
Thereafter	122
Total	$	294

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Balance Sheet Detail (Deferred Income Taxes and Other Assets) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Non-current deferred income taxes	$ 1,729	$ 1,395
Operating lease right-of-use assets	$ 370	$ 389
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Deferred Income Taxes and Other Assets	Deferred Income Taxes and Other Assets
Finance lease right-of-use assets	$ 108	$ 0
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Deferred Income Taxes and Other Assets	Deferred Income Taxes and Other Assets
Income tax receivables and other assets	$ 345	$ 691
Deferred Income Taxes and Other Assets	$ 2,552	$ 2,475

Leases (Tables)

12 Months Ended

Oct. 29, 2023

Leases [Abstract]

Schedule of Lease Expense

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


	2023			2022			2021
	(In millions, except percentage)
Operating lease cost	$	102		$	93		$	79
Finance lease cost:
Amortization of right-of-use assets	$	2		$	—		$	—
Interest on lease liabilities	$	3		$	—		$	—
Weighted-average remaining lease term (in years) - operating leases	5.7			6.3			5.1
Weighted-average remaining lease term (in years) - finance leases	0.9			n/a			n/a
Weighted-average discount rate - operating leases	3.1		%	2.5		%	1.7		%
Weighted-average discount rate - finance leases	4.6		%	n/a			n/a

Supplemental cash flow information related to leases are as follows:


	2023		2022		2021
	(In millions)
Operating cash flows paid for operating leases	$	112	$	107	$	79
Operating cash flows paid for finance leases	$	3	$	—	$	—
Financing cash flows paid for finance leases	$	7	$	—	$	—
Right-of-use assets obtained in exchange for operating lease liabilities	$	106	$	204	$	123
Right-of-use assets obtained in exchange for finance lease liabilities	$	109	$	—	$	—

Schedule of Operating Lease Maturities

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


	Operating Leases		Finance Leases
Fiscal	(In millions)
2024	$	93	$	106
2025	82		—
2026	47		—
2027	37		—
2028	30		—
Thereafter	81		—
Total lease payments	370		106
Less imputed interest	(34)		(4)
Total	$	336	$	102

Schedule of Finance Lease Maturities

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


	Operating Leases		Finance Leases
Fiscal	(In millions)
2024	$	93	$	106
2025	82		—
2026	47		—
2027	37		—
2028	30		—
Thereafter	81		—
Total lease payments	370		106
Less imputed interest	(34)		(4)
Total	$	336	$	102

Derivative Instruments and Hedging Activities (Derivatives in Cash Flow Hedging Relationships) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Net sales	$ 26,517	$ 25,785	$ 23,063
Cost of products sold	14,133	13,792	12,149
Research, development and engineering	3,102	2,771	2,485
Marketing and selling	776	703	609
General and administrative	852	735	620
Interest expense	238	228	236
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations	30	62	(3)
Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations	0	(1)	(2)
Foreign exchange contracts \| Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations	63	100	4
Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations	0	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 Statement of Operations	0	(12)	2
Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations	0	0	(2)
Foreign exchange contracts \| Research, development, and engineering
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations	(14)	(7)	3
Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations	0	(1)	0
Foreign exchange contracts \| Marketing and selling
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations	(2)	(3)
Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations	0	0
Foreign exchange contracts \| General and administrative
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations	(4)	(3)	1
Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations	0	0	0
Interest rate contracts \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations	(13)	(13)	(13)
Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations	$ 0	$ 0	$ 0

Employee Benefit Plans

12 Months Ended

Oct. 29, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Bonus Plans

We have various employee bonus plans. A discretionary bonus plan provides for the distribution of a percentage of pre-tax income to our employees who are not participants in other performance-based incentive plans, up to a maximum percentage of eligible compensation. Other plans provide for bonuses to our executives and other key contributors based on the achievement of profitability and/or other specified performance criteria. Charges under these plans for fiscal 2023, 2022 and 2021 were $702 million, $623 million and $631 million, respectively.

Employee Savings and Retirement Plan

Our Employee Savings and Retirement Plan (the 401(k) Plan) is qualified under Sections 401(a) and (k) of the Internal Revenue Code (the Code). Eligible employees may make salary deferral and catch-up contributions under the 401(k) Plan on a pre-tax basis and on a Roth basis, subject to an annual dollar limit established by the Code. We match 100% of participant salary and/or Roth deferral contributions up to the first 3% of eligible contribution and then 50% of every dollar between 4% and 6% of eligible contribution. We do not make matching contributions on any catch-up contributions made by participants. Plan participants who were employed by us or any of our affiliates are 100% vested in their matching contribution account balances. Our matching contributions under the 401(k) Plan were approximately $85 million for fiscal 2023, $67 million for fiscal 2022 and $61 million for fiscal 2021.

Defined Benefit Pension Plans of Foreign Subsidiaries and Other Postretirement Benefits

Several of our foreign subsidiaries have defined benefit pension plans covering substantially all of their eligible employees. Benefits under these plans are typically based on years of service and final average compensation levels. The plans are managed in accordance with applicable local statutes and practices. We deposit funds for certain of these plans with insurance companies, pension trustees, government-managed accounts, and/or accrue the expense for the unfunded portion of the benefit obligation on our Consolidated Financial Statements. Our practice is to fund the various pension plans in amounts sufficient to meet the minimum requirements as established by applicable local governmental oversight and taxing authorities. Depending on the design of the plan, local custom and market circumstances, the liabilities of a plan may exceed the qualified plan assets. The differences between the aggregate projected benefit obligations and aggregate plan assets of these plans have been recorded as liabilities by us and are included in other liabilities and accrued expenses in the Consolidated Balance Sheets.

A summary of the changes in benefit obligations and plan assets, which includes post-retirement benefits, for each fiscal year is presented below:


	2023		2022		2021

	(In millions, except percentages)
Change in projected benefit obligation
Beginning projected benefit obligation	$	414	$	685	$	674
Service cost	10		14		15
Interest cost	16		9		8
Plan participants’ contributions	1		1		1
Actuarial (gain) loss	(38)		(201)		(1)

Foreign currency exchange rate changes	15		(84)		3
Benefits paid	(10)		(10)		(15)
Plan amendments and other adjustments	—		—		—
Ending projected benefit obligation	$	408	$	414	$	685
Ending accumulated benefit obligation	$	351	$	371	$	626
Range of assumptions to determine benefit obligations
Discount rate	1.3% - 7.1%		1.5% - 7.3%		0.6% - 6.6%
Rate of compensation increase	3.3% - 10.3%		2.7% - 10.0%		2.4% - 10.0%
Change in plan assets
Beginning fair value of plan assets	$	351	$	491	$	431
Return on plan assets	5		(78)		49
Employer contributions	9		11		22
Plan participants’ contributions	1		1		1
Foreign currency exchange rate changes	18		(64)		3

Benefits paid	(10)		(10)		(15)
Ending fair value of plan assets	$	374	$	351	$	491
Funded status	$	(34)	$	(63)	$	(194)
Amounts recognized in the consolidated balance sheets
Noncurrent asset	$	95	$	45	$	1
Current liability	(3)		(1)		(2)
Noncurrent liability	(126)		(107)		(193)
Total	$	(34)	$	(63)	$	(194)
Estimated amortization from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal period
Actuarial loss	$	3	$	4	$	11
Prior service credit	—		—		—
Total	$	3	$	4	$	11
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	70	$	98	$	200
Prior service credit	1		1		1
Total	$	71	$	99	$	201
Plans with projected benefit obligations in excess of plan assets
Projected benefit obligation	$	146	$	126	$	472
Fair value of plan assets	$	18	$	17	$	277
Plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation	$	97	$	88	$	413
Fair value of plan assets	$	18	$	17	$	277


	2023		2022
Plan assets — allocation
Equity securities	29	%	26	%
Debt securities	31	%	37	%
Insurance contracts	19	%	21	%
Other investments	20	%	15	%
Cash	1	%	1	%

The following table presents a summary of the ending fair value of the plan assets:


	October 29, 2023								October 30, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total

	(In millions)
Equity securities	$	102	$	—	$	—	$	102	$	84	$	—	$	—	$	84
Debt securities	60		—		—		60		56		—		—		56
Insurance contracts	—		—		72		72		—		—		72		72
Other investments	—		57		—		57		—		52		—		52
Cash	5		—		—		5		3		—		—		3
Total assets at fair value	$	167	$	57	$	72	296		$	143	$	52	$	72	267
Assets measured at net asset value							78								84
Total							$	374							$	351

The following table presents the activity in Level 3 instruments for each fiscal year:


	2023		2022

	(In millions)
Balance, beginning of year	$	72	$	110
Actual return on plan assets:
Relating to assets still held at reporting date	(4)		(24)
Purchases, sales, settlements, net	—		—
Currency impact	4		(14)
Balance, end of year	$	72	$	72

Our investment strategy for our defined benefit plans is to invest plan assets in a prudent manner, maintaining well-diversified portfolios with the long-term objective of meeting the obligations of the plans as they come due. Asset allocation decisions are typically made by plan fiduciaries with input from our international pension committee. Our asset allocation strategy incorporates a sufficient equity exposure in order for the plans to benefit from the expected better long-term performance of equities relative to the plans’ liabilities. We retain investment managers, where appropriate, to manage the assets of the plans. Performance of investment managers is monitored by plan fiduciaries with the assistance of local investment consultants. The investment managers make investment decisions within the guidelines set forth by plan fiduciaries. Risk management practices include diversification across asset classes and investment styles, and periodic rebalancing toward target asset allocation ranges. Investment managers may use derivative instruments for efficient portfolio management purposes.

A summary of the components of net periodic benefit costs and the weighted average assumptions used for net periodic benefit cost calculations for each fiscal year is presented below:


	2023			2022			2021

	(In millions, except percentages)
Components of net periodic benefit cost
Service cost	$	10		$	14		$	15
Interest cost	16			9			8
Expected return on plan assets	(20)			(21)			(21)
Amortization of actuarial loss and prior service credit	4			10			14

Net periodic benefit cost	$	10		$	12		$	16
Weighted average assumptions
Discount rate	3.48		%	1.41		%	1.18		%
Expected long-term return on assets	5.15		%	4.56		%	4.80		%
Rate of compensation increase	3.39		%	2.89		%	2.74		%

Asset return assumptions are derived based on actuarial and statistical methodologies, from analysis of long-term historical data relevant to the country in which each plan is in effect and the investments applicable to the corresponding plan. The discount rate for each plan was derived by reference to appropriate benchmark yields on high quality corporate bonds, allowing for the approximate duration of both plan obligations and the relevant benchmark yields.

Future expected benefit payments for the pension plans and the postretirement plan over the next ten fiscal years are as follows:


	Benefit Payments
	(In millions)
2024	$	11
2025	14
2026	15
2027	16
2028	16
2029-2033	108
Total	$	180

Company contributions to these plans for fiscal 2024 are expected to be approximately $8 million.

Executive Deferred Compensation Plans

We sponsor two unfunded deferred compensation plans, the Executive Deferred Compensation Plan (Predecessor EDCP) and the 2016 Deferred Compensation Plan (2016 DCP) (formerly known as the 2005 Executive Deferred Compensation Plan), under which certain employees may elect to defer a portion of their following year’s eligible earnings. The Predecessor EDCP was frozen as of December 31, 2004 such that no new deferrals could be made under the plan after that date and the plan would qualify for “grandfather” relief under Section 409A of the Code. The Predecessor EDCP participant accounts continue to be maintained under the plan and credited with deemed interest. The 2016 DCP was originally implemented by us effective as of January 1, 2005, and amended and restated as of October 12, 2015, and is intended to comply with the requirements of Section 409A of the Code. In addition, we also sponsor a non-qualified deferred compensation plan as a result of the acquisition of Varian. Amounts payable for all plans, including accrued deemed interest, totaled $245 million and $200 million at October 29, 2023 and October 30, 2022, respectively, which were included in other liabilities in the Consolidated Balance Sheets.

Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Current assets:
Cash and cash equivalents	$ 6,132	$ 1,995
Short-term investments	737	586
Accounts receivable, net	5,165	6,068
Inventories	5,725	5,932
Other current assets	1,388	1,344
Total current assets	19,147	15,925
Long-term investments	2,281	1,980
Property, plant and equipment, net	2,723	2,307
Goodwill	3,732	3,700
Purchased technology and other intangible assets, net	294	339
Deferred income taxes and other assets	2,552	2,475
Total assets	30,729	26,726
Current liabilities:
Short-term debt	100	0
Accounts payable and accrued expenses	4,297	4,237
Contract liabilities	2,975	3,142
Total current liabilities	7,372	7,379
Long-term debt	5,461	5,457
Income taxes payable	833	964
Other liabilities	714	732
Total liabilities	14,380	14,532
Commitments and contingencies (Note 15)
Stockholders’ equity:
Preferred stock: $0.01 par value per share; 1 shares authorized; no shares issued	0	0
Common stock: $0.01 par value per share; 2,500 shares authorized; 833 and 844 shares outstanding at 2023 and 2022, respectively	8	8
Additional paid-in capital	9,131	8,593
Retained earnings	43,726	37,892
Treasury stock: 1,191 and 1,173 shares at 2023 and 2022, respectively	(36,299)	(34,097)
Accumulated other comprehensive loss	(217)	(202)
Total stockholders’ equity	16,349	12,194
Total liabilities and stockholders’ equity	$ 30,729	$ 26,726

Warranty, Guarantees, Commitments and Contingencies (Warranty Reserves) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Changes in the warranty reserves
Beginning balance	$ 286	$ 242	$ 201
Provisions for warranty	254	254	223
Changes in reserves related to preexisting warranty	2	11	9
Consumption of reserves	(210)	(221)	(191)
Ending balance	$ 332	$ 286	$ 242

Balance Sheet Detail (Property, Plant and Equipment) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Property, Plant and Equipment, Net
Gross property, plant and equipment	$ 6,374	$ 5,629
Accumulated depreciation	(3,651)	(3,322)
Net property, plant and equipment	2,723	2,307
Depreciation	471	404	$ 345
Land and improvements
Property, Plant and Equipment, Net
Gross property, plant and equipment	393	387
Buildings and improvements
Property, Plant and Equipment, Net
Gross property, plant and equipment	$ 2,194	2,027
Buildings and improvements \| Minimum
Property, Plant and Equipment, Net
Useful life	3 years
Buildings and improvements \| Maximum
Property, Plant and Equipment, Net
Useful life	30 years
Demonstration and manufacturing equipment
Property, Plant and Equipment, Net
Gross property, plant and equipment	$ 2,353	2,083
Demonstration and manufacturing equipment \| Minimum
Property, Plant and Equipment, Net
Useful life	3 years
Demonstration and manufacturing equipment \| Maximum
Property, Plant and Equipment, Net
Useful life	5 years
Furniture, fixtures and other equipment
Property, Plant and Equipment, Net
Gross property, plant and equipment	$ 762	743
Furniture, fixtures and other equipment \| Minimum
Property, Plant and Equipment, Net
Useful life	3 years
Furniture, fixtures and other equipment \| Maximum
Property, Plant and Equipment, Net
Useful life	5 years
Construction in progress
Property, Plant and Equipment, Net
Gross property, plant and equipment	$ 672	$ 389

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Oct. 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:


	Derivatives in Cash Flow Hedging Relationships
	2023		2022		2021
	(In millions)
Foreign exchange contracts	$	(56)	$	128	$	36

Total	$	(56)	$	128	$	36

Effect of Derivative Instruments on the Consolidated Statement of Operations

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


			Derivatives in Cash Flow Hedging Relationships
	Total Amount Presented in the Consolidated Statement of Operations in which the Effects of Cash Flow Hedges are Recorded		Amount of Gain or (Loss) Reclassified from AOCI into Consolidated Statement of Operations		Amounts of Gain (Loss) Excluded from Effectiveness Testing Recognized in Consolidated Statement of Operations
2023	(In millions)

Foreign Exchange Contracts:
Net sales	$	26,517	$	63	$	—
Cost of products sold	$	14,133	—		—
Research, development and engineering	$	3,102	(14)		—
Marketing and selling	$	776	(2)		—
General and administrative	$	852	(4)		—
Interest Rate Contracts:
Interest expense	$	238	(13)		—
			$	30	$	—

2022
Foreign Exchange Contracts:
Net sales	$	25,785	$	100	$	—
Cost of products sold	$	13,792	(12)		—
Research, development and engineering	$	2,771	(7)		(1)
Marketing and selling	$	703	(3)		—
General and administrative	$	735	(3)		—
Interest Rate Contracts:
Interest expense	$	228	(13)		—
			$	62	$	(1)

2021
Foreign Exchange Contracts:
Net sales	$	23,063	$	4	$	—
Cost of products sold	$	12,149	2		(2)
Research, development and engineering	$	2,485	3		—

General and administrative	$	620	1		—
Interest Rate Contracts:
Interest expense	$	236	(13)		—
			$	(3)	$	(2)

Derivatives Not Designated as Hedging Instruments in Statement of Operations


		Amount of Gain or (Loss) Recognized in Consolidated Statement of Operations
	Location of Gain or (Loss) Recognized in Consolidated Statement of Operations	2023		2022		2021

		(In millions)
Derivatives Not Designated as Hedging Instruments

Foreign exchange contracts	Interest and other income (expense), net	$	(4)	$	67	$	29
Total return swaps - deferred compensation	Cost of products sold	1		(3)		3
Total return swaps - deferred compensation	Operating expenses	9		(29)		29
Total return swaps - deferred compensation	Interest and other income (expense), net	(11)		(2)		(1)
Total		$	(5)	$	33	$	60

- 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 + Details

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Oct. 29, 2023	Dec. 08, 2023	Apr. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 29, 2023
Current Fiscal Year End Date	--10-29
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 94,685,528,382
Entity Common Stock, Shares Outstanding		831,067,105
Documents Incorporated by Reference	Portions of Part III will be provided in accordance with Instruction G(3) to Form 10-K no later than February 26, 2024.
Entity Central Index Key	0000006951
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Goodwill and Intangible Assets (Future Estimated Amortization Expense) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Amortization Expense
2024	$ 43
2025	41
2026	39
2027	26
2028	23
Thereafter	122
Total	$ 294	$ 322

Industry Segment Operations (Narrative) (Details)	12 Months Ended
Industry Segment Operations (Narrative) (Details)	Oct. 29, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Borrowing Facilities and Debt (Tables)

12 Months Ended

Oct. 29, 2023

Debt Disclosure [Abstract]

Schedule of Debt Outstanding

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


	Principal Amount
	October 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	(11)		(12)
Total unamortized debt issuance costs	(28)		(31)
Total long-term debt	$	5,461	$	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.

+ References

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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Fair Value Measurements (Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Equity investments with readily determinable values
Restricted cash equivalents included in deferred income taxes and other assets	$ 101	$ 105	$ 106
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	$ 101	$ 105
Bank certificates of deposit and time deposits
Assets:
Estimated fair value of fixed income securities	18
U.S. Treasury and agency securities
Assets:
Estimated fair value of fixed income securities	374	422
Non-U.S. government securities
Assets:
Estimated fair value of fixed income securities	6	6
Municipal securities
Assets:
Estimated fair value of fixed income securities	427	373
Commercial paper, corporate bonds and medium-term notes
Assets:
Estimated fair value of fixed income securities	748	574
Asset-backed and mortgage-backed securities
Assets:
Estimated fair value of fixed income securities	487	413
Recurring
Assets:
Estimated fair value of fixed income securities	6,876	2,696
Equity investments with readily determinable values
Equity investments, fair value	698	122
Total	7,574	2,818
Recurring \| Money market funds
Assets:
Estimated fair value of fixed income securities	3,361	765
Recurring \| Bank certificates of deposit and time deposits
Assets:
Estimated fair value of fixed income securities	18	7
Recurring \| U.S. Treasury and agency securities
Assets:
Estimated fair value of fixed income securities	374	426
Recurring \| Non-U.S. government securities
Assets:
Estimated fair value of fixed income securities	6	6
Recurring \| Municipal securities
Assets:
Estimated fair value of fixed income securities	453	386
Recurring \| Commercial paper, corporate bonds and medium-term notes
Assets:
Estimated fair value of fixed income securities	2,177	693
Recurring \| Asset-backed and mortgage-backed securities
Assets:
Estimated fair value of fixed income securities	487	413
Recurring \| Publicly traded equity securities
Equity investments with readily determinable values
Equity investments, fair value	698	122
Recurring \| Level 1
Assets:
Estimated fair value of fixed income securities	3,692	1,169
Equity investments with readily determinable values
Equity investments, fair value	698	122
Total	4,390	1,291
Recurring \| Level 1 \| Money market funds
Assets:
Estimated fair value of fixed income securities	3,361	765
Recurring \| Level 1 \| Bank certificates of deposit and time deposits
Assets:
Estimated fair value of fixed income securities	0	0
Recurring \| Level 1 \| U.S. Treasury and agency securities
Assets:
Estimated fair value of fixed income securities	331	404
Recurring \| Level 1 \| Non-U.S. government securities
Assets:
Estimated fair value of fixed income securities	0	0
Recurring \| Level 1 \| Municipal securities
Assets:
Estimated fair value of fixed income securities	0	0
Recurring \| Level 1 \| Commercial paper, corporate bonds and medium-term notes
Assets:
Estimated fair value of fixed income securities	0	0
Recurring \| Level 1 \| Asset-backed and mortgage-backed securities
Assets:
Estimated fair value of fixed income securities	0	0
Recurring \| Level 1 \| Publicly traded equity securities
Equity investments with readily determinable values
Equity investments, fair value	698	122
Recurring \| Level 2
Assets:
Estimated fair value of fixed income securities	3,184	1,527
Equity investments with readily determinable values
Equity investments, fair value	0	0
Total	3,184	1,527
Recurring \| Level 2 \| Money market funds
Assets:
Estimated fair value of fixed income securities	0	0
Recurring \| Level 2 \| Bank certificates of deposit and time deposits
Assets:
Estimated fair value of fixed income securities	18	7
Recurring \| Level 2 \| U.S. Treasury and agency securities
Assets:
Estimated fair value of fixed income securities	43	22
Recurring \| Level 2 \| Non-U.S. government securities
Assets:
Estimated fair value of fixed income securities	6	6
Recurring \| Level 2 \| Municipal securities
Assets:
Estimated fair value of fixed income securities	453	386
Recurring \| Level 2 \| Commercial paper, corporate bonds and medium-term notes
Assets:
Estimated fair value of fixed income securities	2,177	693
Recurring \| Level 2 \| Asset-backed and mortgage-backed securities
Assets:
Estimated fair value of fixed income securities	487	413
Recurring \| Level 2 \| Publicly traded equity securities
Equity investments with readily determinable values
Equity investments, fair value	$ 0	$ 0

Employee Benefit Plans (Net Periodic Benefit Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Components of net periodic benefit cost
Service cost	$ 10	$ 14	$ 15
Interest cost	$ 16	$ 9	$ 8
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Expected return on plan assets	$ (20)	$ (21)	$ (21)
Amortization of actuarial loss and prior service credit	4	10	14
Net periodic benefit cost	$ 10	$ 12	$ 16
Weighted average assumptions
Discount rate	3.48%	1.41%	1.18%
Expected long-term return on assets	5.15%	4.56%	4.80%
Rate of compensation increase	3.39%	2.89%	2.74%

Industry Segment Operations (Net Sales and Operating Income (Loss)) (Details) - Semiconductor Systems - Net sales - Product Concentration Risk	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Segment Reporting Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Foundry, logic and other
Segment Reporting Information [Line Items]
Percentage of net sales	77.00%	66.00%	60.00%
Dynamic random-access memory (DRAM)
Segment Reporting Information [Line Items]
Percentage of net sales	17.00%	19.00%	19.00%
Flash memory
Segment Reporting Information [Line Items]
Percentage of net sales	6.00%	15.00%	21.00%

Stockholders' Equity, Comprehensive Income and Share-Based Compensation (valuation of share-based awards) (Details) - $ / shares	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Performance Shares/Performance Units \| Minimum
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Grant date market value	$ 104.22	$ 74.62	$ 74.37
Risk-free interest rate	3.64%	0.16%	0.04%
Dividend yield	0.70%	0.47%	0.20%
Fair value (in dollars per share)	$ 102.09	$ 72.24	$ 72.20
Performance Shares/Performance Units \| Maximum
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Grant date market value	$ 143.97	$ 157.29	$ 143.05
Risk-free interest rate	5.48%	4.48%	0.82%
Dividend yield	3.59%	3.83%	3.09%
Fair value (in dollars per share)	$ 141.33	$ 154.88	$ 140.66
Performance Shares Subject To Market Goals
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Grant date market value	$ 109.37	$ 146.49
Risk-free interest rate	4.10%	0.87%
Dividend yield	0.95%	0.66%
Expected volatility	52.38%	47.35%
Fair value (in dollars per share)	$ 162.72	$ 210.69
Performance Shares Subject To Market Goals \| Minimum
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Grant date market value			$ 86.10
Risk-free interest rate			0.20%
Dividend yield			0.99%
Expected volatility			40.51%
Fair value (in dollars per share)			$ 129.27
Performance Shares Subject To Market Goals \| Maximum
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Grant date market value			$ 88.84
Risk-free interest rate			0.41%
Dividend yield			1.02%
Expected volatility			47.00%
Fair value (in dollars per share)			$ 136.81

Employee Benefit Plans (Future Expected Benefit Payments) (Details) $ in Millions	Oct. 29, 2023 USD ($)
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2024	$ 11
2025	14
2026	15
2027	16
2028	16
2029-2033	108
Total	$ 180

Industry Segment Operations (Segment Reconciling Items) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 26,517	$ 25,785	$ 23,063
Share-based compensation	(490)	(413)	(346)
Severance and related charges	0	4	(157)
Deal termination fee	0	0	(154)
Income from operations	7,654	7,788	6,889
Corporate and Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	219	114	130
Unallocated cost of products sold and expenses	(955)	(807)	(725)
Share-based compensation	(490)	(413)	(346)
Severance and related charges	0	4	(149)
Deal termination fee	0	0	(154)
Income from operations	$ (1,226)	$ (1,102)	$ (1,244)

- 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Summary of Significant Accounting Policies (Intangible Assets) (Details)	Oct. 29, 2023
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	15 years

Stockholders' Equity, Comprehensive Income and Share-Based Compensation (Effect of Share-based Compensation) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	$ 490	$ 413	$ 346
Income tax benefits recognized	63	51	43
Cost of products sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	180	147	118
Research, development, and engineering
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	179	151	129
Marketing and selling
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	55	49	43
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation	$ 76	$ 66	$ 56

Consolidated 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. 25, 2020		914
Treasury stock, beginning balance (in shares) at Oct. 25, 2020					1,091
Beginning Balance at Oct. 25, 2020	$ 10,578	$ 9	$ 7,904	$ 27,209	$ (24,245)	$ (299)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,888			5,888
Other comprehensive income (loss), net of tax	39					39
Dividends declared	(851)			(851)
Share-based compensation	346		346
Net issuance under stock plans (in shares)		6
Net issuance under stock plans	$ (3)		(3)
Common stock repurchases, (in shares)	(28)	(28)			(28)
Common stock repurchases	$ (3,750)				$ (3,750)
Ending Balance (in shares) at Oct. 31, 2021		892
Treasury stock, ending balance (in shares) at Oct. 31, 2021					1,119
Ending Balance at Oct. 31, 2021	12,247	$ 9	8,247	32,246	$ (27,995)	(260)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,525			6,525
Other comprehensive income (loss), net of tax	58					58
Dividends declared	(879)			(879)
Share-based compensation	413		413
Net issuance under stock plans (in shares)		6
Net issuance under stock plans	$ (67)		(67)
Common stock repurchases, (in shares)	(54)	(54)			(54)
Common stock repurchases	$ (6,103)	$ (1)			$ (6,102)
Ending Balance (in shares) at Oct. 30, 2022	844	844
Treasury stock, ending balance (in shares) at Oct. 30, 2022	1,173				1,173
Ending Balance at Oct. 30, 2022	$ 12,194	$ 8	8,593	37,892	$ (34,097)	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,856			6,856
Other comprehensive income (loss), net of tax	(15)					(15)
Dividends declared	(1,022)			(1,022)
Share-based compensation	490		490
Net issuance under stock plans (in shares)		7
Net issuance under stock plans	$ 48		48
Common stock repurchases, (in shares)	(18)	(18)			(18)
Common stock repurchases	$ (2,202)				$ (2,202)
Ending Balance (in shares) at Oct. 29, 2023	833	833
Treasury stock, ending balance (in shares) at Oct. 29, 2023	1,191				1,191
Ending Balance at Oct. 29, 2023	$ 16,349	$ 8	$ 9,131	$ 43,726	$ (36,299)	$ (217)

Cash, Cash Equivalents and Investments (Summary of Cash, Cash Equivalents and Investments) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Summary of Cash, Cash Equivalents and Investments
Cash	$ 1,417	$ 1,199
Total cash equivalents	4,715	796
Total cash and cash equivalents	6,132	1,995	$ 4,995
Equity investments and equity securities without readily determinable, cost	735	652
Equity investments and equity securities without readily determinable, gross unrealized gains	249	149
Equity investments and equity securities without readily determinable, gross unrealized losses	26	30
Equity investments and equity securities without readily determinable, fair value	958	771
Total short-term and long-term investments cost	2,841	2,517
Gross unrealized gains on short-term and long-term investments	249	149
Gross unrealized losses on short-term and long-term investments	72	100
Total short-term and long-term investments	3,018	2,566
Cash, cash equivalents and investments, cost	8,973	4,512
Cash, cash equivalents and investments, gross unrealized gains	249	149
Cash, cash equivalents and investments, gross unrealized losses	72	100
Cash, cash equivalents and investments, estimated fair value	9,150	4,561
Total fixed income securities
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	2,106	1,865
Gross unrealized gains on fixed income securities	0	0
Gross unrealized losses on fixed income securities	46	70
Estimated fair value of fixed income securities	2,060	1,795
Bank certificates of deposit and time deposits
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	18
Gross unrealized gains on fixed income securities	0
Gross unrealized losses on fixed income securities	0
Estimated fair value of fixed income securities	18
Bank certificates of deposit
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	381	435
Gross unrealized gains on fixed income securities	0	0
Gross unrealized losses on fixed income securities	7	13
Estimated fair value of fixed income securities	374	422
Non-U.S. government securities
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	438	389
Gross unrealized gains on fixed income securities	0	0
Gross unrealized losses on fixed income securities	11	16
Estimated fair value of fixed income securities	427	373
Commercial paper, corporate bonds and medium-term notes
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	760	595
Gross unrealized gains on fixed income securities	0	0
Gross unrealized losses on fixed income securities	12	21
Estimated fair value of fixed income securities	748	574
Asset-backed and mortgage-backed securities
Summary of Cash, Cash Equivalents and Investments
Cost of fixed income securities	502	432
Gross unrealized gains on fixed income securities	0	0
Gross unrealized losses on fixed income securities	15	19
Estimated fair value of fixed income securities	487	413
Publicly traded equity securities
Summary of Cash, Cash Equivalents and Investments
Equity investments cost	543	85
Equity investments unrealized gains	171	63
Equity securities, gross unrealized losses	16	26
Equity investments estimated fair value	698	122
Equity investments in privately-held companies
Summary of Cash, Cash Equivalents and Investments
Equity securities without readily determinable, cost	192	567
Equity securities without readily determinable, fair value, gross unrealized gains	78	86
Equity securities without readily determinable, fair value, gross unrealized losses	10	4
Equity securities without readily determinable, fair value	260	649
Money market funds
Summary of Cash, Cash Equivalents and Investments
Total cash equivalents	3,260	660
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	26	13
Commercial paper, corporate bonds and medium-term notes
Summary of Cash, Cash Equivalents and Investments
Total cash equivalents	$ 1,429	$ 119

Income Taxes

12 Months Ended

Oct. 29, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The components of income before income taxes for each fiscal year were as follows:


	2023		2022		2021

	(In millions)
U.S.	$	1,234	$	1,171	$	512
Foreign	6,482		6,428		6,259
	$	7,716	$	7,599	$	6,771

The components of the provision for income taxes for each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Current:
U.S.	$	708	$	590	$	462
Foreign	456		275		344
State	54		14		17
	1,218		879		823
Deferred:
U.S.	(255)		(62)		(3)
Foreign	(61)		265		67
State	(42)		(8)		(4)
	(358)		195		60
	$	860	$	1,074	$	883

A reconciliation between the statutory U.S. federal income tax rate and our actual effective income tax rate for each fiscal year is presented below:


	2023		2022		2021
Tax provision at U.S. statutory rate	21.0	%	21.0	%	21.0	%

Effect of foreign operations taxed at various rates	(8.2)		(4.4)		(7.0)
Changes in prior years’ unrecognized tax benefits	(0.2)		(0.9)		0.2
Resolutions of prior years’ income tax filings	(0.1)		(0.2)		(0.1)
Research and other tax credits	(1.6)		(1.0)		(0.9)




Other	0.2		(0.4)		(0.2)
	11.1	%	14.1	%	13.0	%

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 rate for fiscal 2023 was lower than fiscal 2022 primarily due to a reduction of deferred tax assets that occurred in fiscal 2022, related to a new tax incentive in Singapore. Our effective tax rate for fiscal 2022 was higher than fiscal 2021 primarily due to a reduction of deferred tax assets related to a new tax incentive in Singapore, partially offset by changes in uncertain tax positions.

In the reconciliation between the statutory U.S. federal income tax rate and the effective income tax rate, the effect of foreign operations taxed at various rates represents the difference between an income tax provision at the U.S. federal statutory income tax rate and the recorded income tax provision, with the difference expressed as a percentage of worldwide income before income taxes. This effect is substantially related to the tax effect of pre-tax income in jurisdictions with lower statutory tax rates. The foreign operations with the most significant effective tax rate impact are in Singapore. The statutory tax rate for fiscal 2023 for Singapore is 17%. We have been granted conditional reduced tax rates that expire beginning in fiscal 2025, excluding potential renewal and subject to certain conditions with which we expect to comply. The tax benefits arising from these tax rates were $369 million or $0.44 per diluted share and $232 million or $0.26 per diluted share and $370 million or $0.40 per diluted share for fiscal 2023, 2022 and 2021, respectively.

Deferred tax assets and liabilities are recognized for the estimated future tax effects of temporary differences between the book and tax bases of assets and liabilities. Deferred tax assets are also recognized for net operating loss and tax credit carryovers. Deferred tax assets are offset by a valuation allowance to the extent it is more likely than not that they are not expected to be realized. The components of deferred income tax assets and liabilities were as follows:


	October 29, 2023		October 30, 2022

	(In millions)
Deferred tax assets:
Capitalized R&D expenses	$	83	$	—
Allowance for doubtful accounts	4		5
Inventory reserves and basis difference	125		131
Installation and warranty reserves	35		29
Intangible assets	1,031		984
Accrued liabilities	19		35

Deferred revenue	72		82

Tax credits	536		453
Deferred compensation	217		125
Share-based compensation	50		42
Property, plant and equipment	9		—
Lease liability	98		81
Other	96		67
Gross deferred tax assets	2,375		2,034
Valuation allowance	(530)		(460)
Total deferred tax assets	1,845		1,574
Deferred tax liabilities:
Property, plant and equipment	—		(111)
Right of use assets	(103)		(80)

Undistributed foreign earnings	(23)		(39)


Total deferred tax liabilities	(126)		(230)
Net deferred tax assets	$	1,719	$	1,344

A valuation allowance is recorded to reflect the estimated amount of net deferred tax assets that may not be realized. Changes in the valuation allowance in each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Beginning balance	$	460	$	361	$	314
Increases	70		99		47

Ending balance	$	530	$	460	$	361

At October 29, 2023, we have state research and development tax credit carryforwards of $536 million, including $501 million of credits that are carried over until exhausted and $32 million that are carried over for 15 years and begin to expire in fiscal 2033. It is more likely than not that all tax credit carryforwards, net of valuation allowance, will be utilized.

We maintain liabilities for uncertain tax positions. These liabilities involve considerable judgment and estimation and are continuously monitored based on the best information available. Gross unrecognized tax benefits are classified as non-current income taxes payable or as a reduction in deferred tax assets. A reconciliation of the beginning and ending balances of gross unrecognized tax benefits in each fiscal year is as follows:


	2023		2022		2021

	(In millions)
Beginning balance of gross unrecognized tax benefits	$	498	$	537	$	496

Settlements with tax authorities	—		(25)		—
Lapses of statutes of limitation	—		—		(4)
Increases in tax positions for current year	28		26		26
Increases in tax positions for prior years	—		28		23
Decreases in tax positions for prior years	(16)		(68)		(4)
Ending balance of gross unrecognized tax benefits	$	510	$	498	$	537

Tax expense for interest and penalties on unrecognized tax benefits for fiscal 2023, 2022 and 2021 was $34 million, $14 million and $14 million, respectively. The income tax liability for interest and penalties for fiscal 2023, 2022 and 2021 was $136 million, $103 million and $88 million, respectively, and was classified as non-current income taxes payable.

Included in the balance of unrecognized tax benefits for fiscal 2023, 2022 and 2021 are $386 million, $388 million, and $442 million, respectively, of tax benefits that, if recognized, would affect the effective tax rate.

Our tax returns remain subject to examination by taxing authorities. These include U.S. returns for fiscal 2015 and later years, and foreign tax returns for fiscal 2011 and later years.

The timing of the resolution of income tax examinations, as well as the amounts and timing of various tax payments that may be part of the settlement process, is highly uncertain. This could cause fluctuations in our financial condition and results of operations. We continue to have ongoing negotiations with various taxing authorities throughout the year, and evaluate all domestic and foreign tax audit issues in the aggregate, along with the expiration of applicable statutes of limitations.

We believe it is reasonably possible that the amount of gross unrecognized tax benefits related to foreign operations could be reduced by up to $200 million in the next 12 months as a result of the resolution of tax matters or the lapse of statute of limitations.

- 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Employee Benefit Plans (Narrative) (Details) $ in Millions	12 Months Ended
Employee Benefit Plans (Narrative) (Details) $ in Millions	Oct. 29, 2023 USD ($) Plan	Oct. 30, 2022 USD ($)	Oct. 31, 2021 USD ($)
Employee Bonus Plans
Charges to expense under Employee bonus plans	$ 702	$ 623	$ 631
Defined Benefit Pension Plans of Foreign Subsidiaries and Other Post-Retirement Benefits
Company contributions expected for next fiscal year	$ 8
Executive Deferred Compensation Plans
Number of unfunded plans \| Plan	2
Executive Deferred Compensation Plans
Executive Deferred Compensation Plans
Amounts payable under EDCP	$ 245	200
Savings and Retirement Plan
Employee Savings and Retirement Plan
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employees' gross pay	3.00%
Employer matching contribution, percent of match, second tier	50.00%
Percentage vested in matching contribution account	100.00%
401(K) Matching contributions	$ 85	$ 67	$ 61
Savings and Retirement Plan \| Minimum
Employee Savings and Retirement Plan
Employer matching contribution, percent of employees' gross pay, second tier	4.00%
Savings and Retirement Plan \| Maximum
Employee Savings and Retirement Plan
Employer matching contribution, percent of employees' gross pay, second tier	6.00%

Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 29, 2023	Oct. 30, 2022
Stockholders’ equity:
Preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, shares outstanding	833,000,000	844,000,000
Treasury stock (in shares)	1,191,000,000	1,173,000,000

Employee Benefit Plans (Benefit Obligations and Plan Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Change in projected benefit obligation
Beginning projected benefit obligation	$ 414	$ 685	$ 674
Service cost	10	14	15
Interest cost	16	9	8
Plan participants’ contributions	1	1	1
Actuarial (gain) loss	(38)	(201)	(1)
Foreign currency exchange rate changes	15	(84)	3
Benefits paid	(10)	(10)	(15)
Plan amendments and other adjustments	0	0	0
Ending projected benefit obligation	408	414	685
Ending accumulated benefit obligation	351	371	626
Change in plan assets
Beginning fair value of plan assets	351	491	431
Return on plan assets	5	(78)	49
Employer contributions	9	11	22
Plan participants’ contributions	1	1	1
Foreign currency exchange rate changes	18	(64)	3
Benefits paid	(10)	(10)	(15)
Ending fair value of plan assets	374	351	491
Funded status	(34)	(63)	(194)
Amounts recognized in the consolidated balance sheets
Noncurrent asset	95	45	1
Current liability	(3)	(1)	(2)
Noncurrent liability	(126)	(107)	(193)
Total	(34)	(63)	(194)
Estimated amortization from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal period
Actuarial loss	3	4	11
Prior service credit	0	0	0
Total	3	4	11
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	70	98	200
Prior service credit	1	1	1
Total	71	99	201
Plans with projected benefit obligations in excess of plan assets
Projected benefit obligation	146	126	472
Fair value of plan assets	18	17	277
Plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation	97	88	413
Fair value of plan assets	$ 18	$ 17	$ 277
Minimum
Range of assumptions to determine benefit obligations
Discount rate	1.30%	1.50%	0.60%
Rate of compensation increase	3.30%	2.70%	2.40%
Maximum
Range of assumptions to determine benefit obligations
Discount rate	7.10%	7.30%	6.60%
Rate of compensation increase	10.30%	10.00%	10.00%

Employee Benefit Plans (Tables)

12 Months Ended

Oct. 29, 2023

Retirement Benefits [Abstract]

Changes in benefit obligations and plan assets including post-retirement benefits

A summary of the changes in benefit obligations and plan assets, which includes post-retirement benefits, for each fiscal year is presented below:


	2023		2022		2021

	(In millions, except percentages)
Change in projected benefit obligation
Beginning projected benefit obligation	$	414	$	685	$	674
Service cost	10		14		15
Interest cost	16		9		8
Plan participants’ contributions	1		1		1
Actuarial (gain) loss	(38)		(201)		(1)

Foreign currency exchange rate changes	15		(84)		3
Benefits paid	(10)		(10)		(15)
Plan amendments and other adjustments	—		—		—
Ending projected benefit obligation	$	408	$	414	$	685
Ending accumulated benefit obligation	$	351	$	371	$	626
Range of assumptions to determine benefit obligations
Discount rate	1.3% - 7.1%		1.5% - 7.3%		0.6% - 6.6%
Rate of compensation increase	3.3% - 10.3%		2.7% - 10.0%		2.4% - 10.0%
Change in plan assets
Beginning fair value of plan assets	$	351	$	491	$	431
Return on plan assets	5		(78)		49
Employer contributions	9		11		22
Plan participants’ contributions	1		1		1
Foreign currency exchange rate changes	18		(64)		3

Benefits paid	(10)		(10)		(15)
Ending fair value of plan assets	$	374	$	351	$	491
Funded status	$	(34)	$	(63)	$	(194)
Amounts recognized in the consolidated balance sheets
Noncurrent asset	$	95	$	45	$	1
Current liability	(3)		(1)		(2)
Noncurrent liability	(126)		(107)		(193)
Total	$	(34)	$	(63)	$	(194)
Estimated amortization from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal period
Actuarial loss	$	3	$	4	$	11
Prior service credit	—		—		—
Total	$	3	$	4	$	11
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	70	$	98	$	200
Prior service credit	1		1		1
Total	$	71	$	99	$	201
Plans with projected benefit obligations in excess of plan assets
Projected benefit obligation	$	146	$	126	$	472
Fair value of plan assets	$	18	$	17	$	277
Plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation	$	97	$	88	$	413
Fair value of plan assets	$	18	$	17	$	277


	2023		2022
Plan assets — allocation
Equity securities	29	%	26	%
Debt securities	31	%	37	%
Insurance contracts	19	%	21	%
Other investments	20	%	15	%
Cash	1	%	1	%

Summary of ending fair value of the plan assets

The following table presents a summary of the ending fair value of the plan assets:


	October 29, 2023								October 30, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total

	(In millions)
Equity securities	$	102	$	—	$	—	$	102	$	84	$	—	$	—	$	84
Debt securities	60		—		—		60		56		—		—		56
Insurance contracts	—		—		72		72		—		—		72		72
Other investments	—		57		—		57		—		52		—		52
Cash	5		—		—		5		3		—		—		3
Total assets at fair value	$	167	$	57	$	72	296		$	143	$	52	$	72	267
Assets measured at net asset value							78								84
Total							$	374							$	351

Activity in Level 3 instruments

The following table presents the activity in Level 3 instruments for each fiscal year:


	2023		2022

	(In millions)
Balance, beginning of year	$	72	$	110
Actual return on plan assets:
Relating to assets still held at reporting date	(4)		(24)
Purchases, sales, settlements, net	—		—
Currency impact	4		(14)
Balance, end of year	$	72	$	72

Schedule of net benefit costs and weighted average assumptions used

A summary of the components of net periodic benefit costs and the weighted average assumptions used for net periodic benefit cost calculations for each fiscal year is presented below:


	2023			2022			2021

	(In millions, except percentages)
Components of net periodic benefit cost
Service cost	$	10		$	14		$	15
Interest cost	16			9			8
Expected return on plan assets	(20)			(21)			(21)
Amortization of actuarial loss and prior service credit	4			10			14

Net periodic benefit cost	$	10		$	12		$	16
Weighted average assumptions
Discount rate	3.48		%	1.41		%	1.18		%
Expected long-term return on assets	5.15		%	4.56		%	4.80		%
Rate of compensation increase	3.39		%	2.89		%	2.74		%

Schedule of expected benefit payments

Future expected benefit payments for the pension plans and the postretirement plan over the next ten fiscal years are as follows:


	Benefit Payments
	(In millions)
2024	$	11
2025	14
2026	15
2027	16
2028	16
2029-2033	108
Total	$	180

Cash, Cash Equivalents and Investments (Contractual Maturities) (Details) $ in Millions	Oct. 29, 2023 USD ($)
Cost
Due in one year or less, cost	$ 716
Due after one through five years, cost	888
No single maturity date, cost	1,237
Cost of fixed income securities	2,841
Estimated Fair Value
Due in one year or less, estimated fair value	709
Due after one through five years, estimated fair value	864
No single maturity date, estimated fair value	1,445
Estimated Fair Value	$ 3,018

Contract Balances and Performance Obligations

12 Months Ended

Oct. 29, 2023

Revenue from Contract with Customer [Abstract]

Contract Balances and Performance Obligations

Contract Assets and Liabilities

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 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:


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

Contract assets	$	274	$	173
Contract liabilities	$	2,975	$	3,142

The increase in contract assets during fiscal 2023, was primarily due to an increase in unsatisfied performance obligations related to goods transferred to customers where payment was conditional upon technical sign off.

During fiscal 2023, we recognized revenue of approximately $2.9 billion related to contract liabilities at October 30, 2022. This reduction in contract liabilities was 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 October 29, 2023.

There were no credit losses recognized on our accounts receivables and contract assets during fiscal 2023 and 2022.

Performance Obligations

As of October 29, 2023, the amount of remaining unsatisfied performance obligations on contracts, primarily consisting of written purchase orders received from customers, with an original estimated duration of one year or more was approximately $6.0 billion, of which approximately 59% 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Cash and Cash Equivalents (Gain (Loss) on Equity Investments) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Total gain (loss) on equity investments, net	$ 27	$ 7	$ 99
Publicly traded equity securities
Debt and Equity Securities, FV-NI [Line Items]
Unrealized gain	193	30	14
Unrealized loss	(44)	(62)	(11)
Realized gain on sales and dividends	9	7	2
Realized loss on sales or impairment	(4)	0	0
Equity investments in privately-held companies
Debt and Equity Securities, FV-NI [Line Items]
Unrealized gain	15	41	65
Unrealized loss	(30)	(5)	(12)
Realized gain on sales and dividends	9	3	48
Realized loss on sales or impairment	$ (121)	$ (7)	$ (7)

Warranty, Guarantees, Commitments and Contingencies (Narrative) (Details) $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Products warranty period	12 months
Maximum potential amount of future payments for letters of credit or other guarantee instruments	$ 333
Parent guarantees to banks	$ 293

Income Taxes (Components of Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Components of income from operations before income taxes
U.S.	$ 1,234	$ 1,171	$ 512
Foreign	6,482	6,428	6,259
Income before income taxes	7,716	7,599	6,771
Current:
U.S.	708	590	462
Foreign	456	275	344
State	54	14	17
Total current provision for income taxes	1,218	879	823
Deferred:
U.S.	(255)	(62)	(3)
Foreign	(61)	265	67
State	(42)	(8)	(4)
Total deferred provision (benefit) for income taxes	(358)	195	60
Provision for income taxes	$ 860	$ 1,074	$ 883
Reconciliation between the statutory U.S.federal income tax rate to actual effective income tax rate
Tax provision at U.S. statutory rate	21.00%	21.00%	21.00%
Effect of foreign operations taxed at various rates	(8.20%)	(4.40%)	(7.00%)
Changes in prior years’ unrecognized tax benefits	(0.20%)	(0.90%)	0.20%
Resolutions of prior years’ income tax filings	(0.10%)	(0.20%)	(0.10%)
Research and other tax credits	(1.60%)	(1.00%)	(0.90%)
Other	0.20%	(0.40%)	(0.20%)
Effective income tax rate	11.10%	14.10%	13.00%
Deferred tax assets:
Capitalized R&D expenses	$ 83	$ 0
Allowance for doubtful accounts	4	5
Inventory reserves and basis difference	125	131
Installation and warranty reserves	35	29
Intangible assets	1,031	984
Accrued liabilities	19	35
Deferred revenue	72	82
Tax credits	536	453
Deferred compensation	217	125
Share-based compensation	50	42
Property, plant and equipment	9	0
Lease liability	98	81
Other	96	67
Gross deferred tax assets	2,375	2,034
Valuation allowance	(530)	(460)
Total deferred tax assets	1,845	1,574
Deferred tax liabilities:
Property, plant and equipment	0	(111)
Right of use assets	(103)	(80)
Undistributed foreign earnings	(23)	(39)
Total deferred tax liabilities	(126)	(230)
Net deferred tax assets	1,719	1,344
Reconciliation of gross unrecognized tax benefits
Beginning balance of gross unrecognized tax benefits	498	537	$ 496
Settlements with tax authorities	0	(25)	0
Lapses of statutes of limitation	0	0	(4)
Increases in tax positions for current year	28	26	26
Increases in tax positions for prior years	0	28	23
Decreases in tax positions for prior years	(16)	(68)	(4)
Ending balance of gross unrecognized tax benefits	$ 510	$ 498	$ 537

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Oct. 29, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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

12 Months Ended

Oct. 29, 2023

Equity [Abstract]

Components of Accumulated Other Comprehensive Income, Net of Tax

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 at October 25, 2020	$	20	$	(133)	$	(199)	$	13	(299)


Other comprehensive income (loss) before reclassifications	(14)		28		20		—		34
Amounts reclassified out of AOCI	(7)		2		10		—		5
Other comprehensive income (loss), net of tax	(21)		30		30		—		39
Balance at October 31, 2021	$	(1)	$	(103)	$	(169)	$	13	$	(260)


Other comprehensive income (loss) before reclassifications	(60)		100		71		—		111
Amounts reclassified out of AOCI	(14)		(49)		10		—		(53)
Other comprehensive income, net of tax	(74)		51		81		—		58
Balance at October 30, 2022	$	(75)	$	(52)	$	(88)	$	13	$	(202)


Other comprehensive income (loss) before reclassifications	16		(44)		17		—		(11)
Amounts reclassified out of AOCI	9		(22)		9		—		(4)
Other comprehensive income (loss), net of tax	25		(66)		26		—		(15)
Balance at October 29, 2023	$	(50)	$	(118)	$	(62)	$	13	$	(217)

Summary of Stock Repurchases

The following table summarizes our stock repurchases, including excise tax, for each fiscal year:


	2023		2022		2021

	(In millions, except per share amounts)
Shares of common stock repurchased	18		54		28
Cost of stock repurchased	$	2,202	$	6,103	$	3,750
Average price paid per share	$	123.63	$	113.84	$	134.03

Effect of Share-Based Compensation on the Results of Operations by Expense Type


	2023		2022		2021

	(In millions)
Cost of products sold	$	180	$	147	$	118
Research, development, and engineering	179		151		129
Marketing and selling	55		49		43
General and administrative	76		66		56

Total share-based compensation	$	490	$	413	$	346

Income tax benefits recognized	$	63	$	51	$	43

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following tables summarize the assumptions used for the valuation of share-based awards for the periods presented:


	2023	2022	2021
Service-Based Awards and the portion of Performance-Based Awards subject to performance goals:
Grant date market value	$104.22 - $143.97	$74.62 - $157.29	$74.37 - $143.05
Risk-free interest rate	3.64% - 5.48%	0.16% - 4.48%	0.04% - 0.82%
Dividend yield	0.70% - 3.59%	0.47% - 3.83%	0.20% - 3.09%
Fair value	$102.09 - $141.33	$72.24 - $154.88	$72.20 - $140.66


	2023		2022	2021*
Portion of Performance-Based Awards subject to market goals:
Grant date market value	$109.37		$146.49	$86.10 - $88.84
Risk-free interest rate	4.10	%	0.87%	0.20% - 0.41%
Dividend yield	0.95	%	0.66%	0.99% - 1.02%
Expected volatility	52.38	%	47.35%	40.51% - 47.00%
Fair value	$162.72		$210.69	$129.27 - $136.81

________________________

*Fiscal 2021 included both annual and non-recurring long-term Performance-Based Awards.

Restricted Stock Units and Restricted Stock Activity

A summary of the changes in restricted stock units, restricted stock, performance shares and performance units outstanding under our equity compensation plans is presented below:


	Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value

	(In millions, except per share amounts)
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 25, 2020	15	$	45.36	2.2 years	$	914
Granted	5	$	92.04
Vested	(6)	$	43.11
Canceled	(1)	$	59.41
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 31, 2021	13	$	63.29	2.2 years	$	1,752
Granted	4	$	132.44
Vested	(5)	$	54.00
Canceled	(1)	$	82.54
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 30, 2022	11	$	92.31	2.2 years	$	1,024
Granted	6	$	104.00
Vested	(5)	$	72.49
Canceled	—	$	103.73
Non-vested restricted stock units, restricted stock, performance shares and performance units at October 29, 2023	12	$	106.24	2.4 years	$	1,524
Non-vested restricted stock units, restricted stock, performance shares and performance units expected to vest	11	$	107.26	2.3 years	$	1,495

Significant Valuation Assumptions in Relation to ESPP

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


	2023		2022		2021
ESPP:
Dividend yield	0.98	%	0.97	%	0.72	%
Expected volatility	39.4	%	46.8	%	41.3	%
Risk-free interest rate	5.29	%	2.24	%	0.05	%
Expected life (in years)	0.5		0.5		0.5
Weighted average estimated fair value	$35.31		$30.23		$33.77

Industry Segment Operations

12 Months Ended

Oct. 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 October 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.

Information for each reportable segment for and as of the end of each fiscal year were as follows:


	Net Sales		Operating Income (Loss)		Depreciation/ Amortization		Capital Expenditures		Accounts Receivable		Inventories

	(In millions)
2023:
Semiconductor Systems	$	19,698	$	7,090	$	235	$	381	$	3,943	$	3,433
Applied Global Services	5,732		1,657		31		39		1,111		2,073
Display and Adjacent Markets	868		133		19		13		184		200
Corporate and Other	219		(1,226)		230		673		(73)		19
Total	$	26,517	$	7,654	$	515	$	1,106	$	5,165	$	5,725
2022:
Semiconductor Systems	$	18,797	$	6,969	$	203	$	249	$	4,924	$	3,995
Applied Global Services	5,543		1,661		31		38		997		1,788
Display and Adjacent Markets	1,331		260		31		30		148		129
Corporate and Other	114		(1,102)		179		470		(1)		20
Total	$	25,785	$	7,788	$	444	$	787	$	6,068	$	5,932
2021:
Semiconductor Systems	$	16,286	$	6,311	$	194	$	228	$	3,886	$	2,586
Applied Global Services	5,013		1,508		32		29		922		1,561
Display and Adjacent Markets	1,634		314		27		32		207		153
Corporate and Other	130		(1,244)		141		379		(62)		9
Total	$	23,063	$	6,889	$	394	$	668	$	4,953	$	4,309

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


	2023		2022		2021
Foundry, logic and other	77	%	66	%	60	%
Dynamic random-access memory (DRAM)	17	%	19	%	19	%
Flash memory	6	%	15	%	21	%

	100	%	100	%	100	%

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


	2023		2022		2021

	(In millions)
Unallocated net sales	$	219	$	114	$	130
Unallocated cost of products sold and expenses	(955)		(807)		(725)
Share-based compensation	(490)		(413)		(346)
Severance and related charges	—		4		(149)
Deal termination fee	—		—		(154)
Total	$	(1,226)	$	(1,102)	$	(1,244)

For geographical reporting, revenue by geographic location is determined by the location of customers’ facilities to which products were shipped. Long-lived assets consist primarily of property, plant and equipment and right-of-use assets and are attributed to the geographic location in which they are located. Fiscal 2021 long-lived asset amount has been updated to include right-of-use assets to conform with the current year presentation. Net sales and long-lived assets by geographic region for and as of each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Net sales:
United States	$	4,006	$	3,104	$	2,038
China	7,247		7,254		7,535
Korea	4,609		4,395		5,012
Taiwan	5,670		6,262		4,742
Japan	2,075		2,012		1,962
Europe	2,152		1,674		1,097
Southeast Asia	758		1,084		677
Total outside United States	22,511		22,681		21,025
Consolidated total	$	26,517	$	25,785	$	23,063


	October 29, 2023		October 30, 2022

	(In millions)
Long-lived assets:
United States	$	3,239	$	2,725
China	4		6
Korea	11		14
Taiwan	59		62
Japan	7		7
Europe	110		75
Southeast Asia	6		8
Total outside United States	197		172
Consolidated total	$	3,436	$	2,897

The following customers accounted for at least 10 percent of our net sales in each fiscal year, which were for products and services in multiple reportable segments:


	2023		2022		2021
Samsung Electronics Co., Ltd.	15	%	12	%	20	%
Taiwan Semiconductor Manufacturing Company Limited	19	%	20	%	15	%

Intel Corporation	*		10	%	*

___________________________

*Less than 10%

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Industry Segment Operations (Percentage by Customer) (Details) - Net sales - Customer Concentration Risk	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Samsung Electronics Co., Ltd.
Entity-Wide Revenue, Major Customer [Line Items]
Percentage of net sales	15.00%	12.00%	20.00%
Taiwan Semiconductor Manufacturing Company Limited
Entity-Wide Revenue, Major Customer [Line Items]
Percentage of net sales	19.00%	20.00%	15.00%
Intel Corporation
Entity-Wide Revenue, Major Customer [Line Items]
Percentage of net sales		10.00%

Contract Balances and Performance Obligations - Narrative (Details) - USD ($)	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized	$ 2,900,000,000
Impairment loss on accounts receivable and contract assets	0	$ 0
Long-term Contract with Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6,000,000,000
Long-term Contract with Customer \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percent of performance obligation recognized	59.00%
Performance obligation period	12 months
Long-term Contract with Customer \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation period	24 months

Stockholders' Equity, Comprehensive Income and Share-Based Compensation (Stock Repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Equity [Abstract]
Shares of common stock repurchased (in shares)	18	54	28
Cost of stock repurchased	$ 2,202	$ 6,103	$ 3,750
Average price paid per share (in dollars per share)	$ 123.63	$ 113.84	$ 134.03

Balance Sheet Detail (Other Current Assets) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Other Current Assets
Prepaid income taxes and income taxes receivable	$ 412	$ 461
Prepaid expenses and other	976	883
Total other current assets	$ 1,388	$ 1,344

Leases

12 Months Ended

Oct. 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:


	2023			2022			2021
	(In millions, except percentage)
Operating lease cost	$	102		$	93		$	79
Finance lease cost:
Amortization of right-of-use assets	$	2		$	—		$	—
Interest on lease liabilities	$	3		$	—		$	—
Weighted-average remaining lease term (in years) - operating leases	5.7			6.3			5.1
Weighted-average remaining lease term (in years) - finance leases	0.9			n/a			n/a
Weighted-average discount rate - operating leases	3.1		%	2.5		%	1.7		%
Weighted-average discount rate - finance leases	4.6		%	n/a			n/a

Supplemental cash flow information related to leases are as follows:


	2023		2022		2021
	(In millions)
Operating cash flows paid for operating leases	$	112	$	107	$	79
Operating cash flows paid for finance leases	$	3	$	—	$	—
Financing cash flows paid for finance leases	$	7	$	—	$	—
Right-of-use assets obtained in exchange for operating lease liabilities	$	106	$	204	$	123
Right-of-use assets obtained in exchange for finance lease liabilities	$	109	$	—	$	—

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


	Operating Leases		Finance Leases
Fiscal	(In millions)
2024	$	93	$	106
2025	82		—
2026	47		—
2027	37		—
2028	30		—
Thereafter	81		—
Total lease payments	370		106
Less imputed interest	(34)		(4)
Total	$	336	$	102

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Pay vs Performance Disclosure
Net income	$ 6,856	$ 6,525	$ 5,888

- Definition

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

+ References

+ Details

Employee Benefit Plans (Fair Value of Plan Assets) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021	Oct. 25, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	$ 374	$ 351	$ 491	$ 431
Total assets at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	296	267
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	167	143
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	57	52
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	72	72	$ 110
Assets measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	78	84
Equity securities \| Total assets at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	102	84
Equity securities \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	102	84
Equity securities \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Equity securities \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Debt securities \| Total assets at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	60	56
Debt securities \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	60	56
Debt securities \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Debt securities \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Insurance contracts \| Total assets at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	72	72
Insurance contracts \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Insurance contracts \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Insurance contracts \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	72	72
Other investments \| Total assets at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	57	52
Other investments \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Other investments \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	57	52
Other investments \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Cash \| Total assets at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	5	3
Cash \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	5	3
Cash \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	0	0
Cash \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan of assets	$ 0	$ 0

Earnings Per Share

12 Months Ended

Oct. 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.


Fiscal Year	2023		2022		2021

	(In millions, except per share amounts)
Numerator:
Net income	$	6,856	$	6,525	$	5,888
Denominator:
Weighted average common shares outstanding	840		871		910
Effect of weighted dilutive restricted stock units and employee stock purchase plan shares	5		6		9
Denominator for diluted earnings per share	845		877		919
Basic earnings per share	$	8.16	$	7.49	$	6.47
Diluted earnings per share	$	8.11	$	7.44	$	6.40
Potentially weighted dilutive securities	—		3		—

Excluded from the calculation of diluted earnings per share are securities attributable to outstanding restricted stock units 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.

Balance Sheet Detail (Inventory) (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Inventories
Customer service spares	$ 1,589	$ 1,409
Raw materials	1,653	1,807
Work-in-process	997	1,029
Finished goods
Deferred cost of sales	413	704
Evaluation inventory	423	422
Manufactured on-hand inventory	650	561
Total finished goods	1,486	1,687
Total inventories	$ 5,725	$ 5,932	$ 4,309

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Impairment losses on equity investments	$ 121
Senior Notes
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Long-term debt principal amount	5,500	$ 5,500
Estimate of Fair Value Measurement \| Level 2 \| Senior Notes
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Long-term debt fair value	$ 4,700	$ 4,800

Employee Benefit Plans (Level 3 Instruments) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Change in plan assets
Beginning fair value of plan assets	$ 351	$ 491	$ 431
Currency impact	(18)	64	(3)
Ending fair value of plan assets	374	351	491
Level 3
Change in plan assets
Beginning fair value of plan assets	72	110
Relating to assets still held at reporting date	(4)	(24)
Purchases, sales, settlements, net	0	0
Currency impact	4	(14)
Ending fair value of plan assets	$ 72	$ 72	$ 110

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Accounts Receivable, Net	12 Months Ended
Accounts Receivable, Net	Oct. 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 $0.7 billion, $1.0 billion and $1.3 billion of accounts receivable during fiscal 2023, 2022 and 2021, respectively. We did not discount letters of credit issued by customers in fiscal 2023, 2022 and 2021. There was no discounting of promissory notes in each of fiscal 2023, 2022 and 2021. Financing charges on the sale of receivables and discounting of letters of credit are included in interest expense in the accompanying Consolidated Statements of Operations and were not material for all years presented. Accounts receivable are presented net of allowance for credit losses of $29 million at October 29, 2023 and October 30, 2022. Changes in allowance for credit losses in fiscal 2023, 2022 and 2021 were not material. 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 October 29, 2023, we continue to closely monitor customer liquidity and industry and economic conditions, which may result in changes to our estimates.

Cash, Cash Equivalents and Investments

12 Months Ended

Oct. 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:


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

	(In millions)
Cash	$	1,417	$	—	$	—	$	1,417
Cash equivalents:
Money market funds*	3,260		—		—		3,260


Municipal securities	26		—		—		26
Commercial paper, corporate bonds and medium-term notes	1,429		—		—		1,429

Total cash equivalents	4,715		—		—		4,715
Total cash and cash equivalents	$	6,132	$	—	$	—	$	6,132
Short-term and long-term investments:
Bank certificates of deposit and time deposits	$	18	$	—	$	—	$	18
U.S. Treasury and agency securities	381		—		7		374
Non-U.S. government securities**	7		—		1		6
Municipal securities	438		—		11		427
Commercial paper, corporate bonds and medium-term notes	760		—		12		748
Asset-backed and mortgage-backed securities	502		—		15		487
Total fixed income securities	2,106		—		46		2,060
Publicly traded equity securities	543		171		16		698
Equity investments in privately held companies	192		78		10		260
Total equity investments	735		249		26		958
Total short-term and long-term investments	$	2,841	$	249	$	72	$	3,018
Total cash, cash equivalents and investments	$	8,973	$	249	$	72	$	9,150

_________________________

*Excludes $101 million of restricted cash equivalents invested in money market funds related to deferred compensation plans.

**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

________________________

*Excludes $105 million of restricted cash equivalents invested in money market funds related to deferred compensation plans.

**Includes Canadian provincial government debt.

During fiscal 2023, 2022 and 2021, interest income from our cash, cash equivalents and fixed income securities was $262 million, $44 million and $26 million, respectively.

Maturities of Investments

The following table summarizes the contractual maturities of our investments at October 29, 2023:


	Cost		Estimated Fair Value

	(In millions)
Due in one year or less	$	716	$	709
Due after one through five years	888		864

No single maturity date*	1,237		1,445
Total	$	2,841	$	3,018

_________________________

*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

At October 29, 2023, gross unrealized losses related to our fixed income portfolio were not material. We regularly review our fixed income 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 (expense), net. Any additional changes in fair value that are not related to credit losses are recognized in accumulated other comprehensive income (loss) (AOCI).

During fiscal 2023, 2022 and 2021, gross realized gains and losses related to our fixed income portfolio were not material.

During fiscal 2023, 2022 and 2021, we did not recognize significant credit losses and the ending allowance for credit losses was not material.

The components of gain (loss) on equity investments for each fiscal year were as follows:


	2023		2022		2021

	(In millions)
Publicly traded equity securities
Unrealized gain	$	193	$	30	$	14
Unrealized loss	(44)		(62)		(11)
Realized gain on sales and dividends	9		7		2
Realized loss on sales or impairment	(4)		—		—
Equity investments in privately held companies
Unrealized gain	15		41		65
Unrealized loss	(30)		(5)		(12)
Realized gain on sales and dividends	9		3		48
Realized loss on sales or impairment	(121)		(7)		(7)
Total gain (loss) on equity investments, net	$	27	$	7	$	99

Impairment losses on equity investments in privately held companies, included in the above table, were not material during fiscal 2022 and 2021 and were $121 million during fiscal 2023. These impairment losses are included in interest and other income (expense), net in the Consolidated Statement of Operations.