0000006281-23-000179 | 10-Q | XBRL Viewer

Revenue (Tables)

9 Months Ended

Jul. 29, 2023

Revenue from Contract with Customer [Abstract]

The following tables summarize revenue by end market. The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the “ship to” customer information and the end customer product or application into which the Company’s product will be incorporated. As data systems for capturing and tracking this data and the Company's methodology evolves and improves, the categorization of products by end market can vary over time. When this occurs, the Company reclassifies revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of revenue within, each

end market.


	Three Months Ended
	July 29, 2023						July 30, 2022
	Revenue		% of Revenue*		Y/Y%		Revenue		% of Revenue*
Industrial	$	1,629,201	53	%	4	%	$	1,566,885	50	%
Automotive	747,554		24	%	15	%	648,153		21	%
Communications	380,504		12	%	(23)	%	491,515		16	%
Consumer	319,236		10	%	(21)	%	403,327		13	%


Total revenue	$	3,076,495	100	%	(1)	%	$	3,109,880	100	%


	Nine Months Ended
	July 29, 2023						July 30, 2022
	Revenue		% of Revenue*		Y/Y%		Revenue		% of Revenue*
Industrial	$	5,092,879	53	%	15	%	$	4,439,232	51	%
Automotive	2,226,277		23	%	23	%	1,810,803		21	%
Communications	1,319,931		14	%	(4)	%	1,378,352		16	%
Consumer	949,968		10	%	(17)	%	1,137,850		13	%
Total revenue	$	9,589,055	100	%	9	%	$	8,766,237	100	%
* The sum of the individual percentages may not equal the total due to rounding.

Revenue by Sales Channel

The following tables summarize revenue by channel. The Company sells its products globally through a direct sales force, third party distributors, independent sales representatives and via its website. Distributors are customers that buy products with the intention of reselling them. Direct customers are non-distributor customers and consist primarily of original equipment manufacturers. Other customers include the U.S. government, government prime contractors and certain commercial customers for which revenue is recorded over time.


	Three Months Ended
	July 29, 2023				July 30, 2022
Channel	Revenue		% of Revenue*		Revenue		% of Revenue*
Distributors	$	1,904,496	62	%	$	1,922,982	62	%
Direct customers	1,126,796		37	%	1,146,538		37	%
Other	45,203		1	%	40,360		1	%
Total revenue	$	3,076,495	100	%	$	3,109,880	100	%


	Nine Months Ended
	July 29, 2023				July 30, 2022
Channel	Revenue		% of Revenue*		Revenue		% of Revenue*
Distributors	$	5,912,229	62	%	$	5,426,024	62	%
Direct customers	3,547,116		37	%	3,241,429		37	%
Other	129,710		1	%	98,784		1	%
Total revenue	$	9,589,055	100	%	$	8,766,237	100	%
* The sum of the individual percentages may not equal the total due to rounding.

Property, Plant and Equipment

9 Months Ended

Jul. 29, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

During fiscal 2023, the Company ceased usage of its office facility located in Cary, North Carolina as well as its campus facility located in Milpitas, California and determined that both facilities met the held for sale criteria specified in Accounting Standards Codification (ASC) 360. No write-downs to fair value were required upon these determinations as the fair values of the asset groups, less costs to sell, were greater than their carrying values. As of July 29, 2023, prepaid expenses and other current assets includes the following assets held for sale:



Land and buildings	$	66,308
Less accumulated depreciation and amortization	(21,577)
Net property, plant and equipment reclassified to Prepaid expenses and other current assets	$	44,731

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.86	$ 0.76	$ 2.48	$ 2.21

Revenue - Revenue by Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 3,076,495	$ 3,109,880	$ 9,589,055	$ 8,766,237
Percent of revenue (as percent)	100.00%	100.00%	100.00%	100.00%
Distributors
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,904,496	$ 1,922,982	$ 5,912,229	$ 5,426,024
Percent of revenue (as percent)	62.00%	62.00%	62.00%	62.00%
Direct customers
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,126,796	$ 1,146,538	$ 3,547,116	$ 3,241,429
Percent of revenue (as percent)	37.00%	37.00%	37.00%	37.00%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 45,203	$ 40,360	$ 129,710	$ 98,784
Percent of revenue (as percent)	1.00%	1.00%	1.00%	1.00%

- 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
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+ Details

Fair Value (Tables)

9 Months Ended

Jul. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of fair value of financial assets and liabilities

The tables below, set forth by level, present the Company’s financial assets and liabilities, excluding accrued interest components that were accounted for at fair value on a recurring basis as of July 29, 2023 and October 29, 2022. The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of July 29, 2023 and October 29, 2022, the Company held $691.2 million and $1,016.0 million, respectively, of cash that is

excluded from the tables below.


	July 29, 2023
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	457,997	$	—	$	457,997















Other assets:
Deferred compensation plan investments	80,844		—		80,844

Forward foreign currency exchange contracts	—		8,910		8,910
Total assets measured at fair value	$	538,841	$	8,910	$	547,751
Liabilities


Interest rate derivatives (1)	$	—	$	45,620	$	45,620
Total liabilities measured at fair value	$	—	$	45,620	$	45,620

(1)The carrying value of the related debt was adjusted by an equal and offsetting amount. The fair value of interest rate derivatives is estimated using a discounted cash flow analysis based on the contractual terms of the derivatives. See Note 10, Derivatives, in these Notes to Condensed Consolidated Financial Statements.


	October 29, 2022
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	454,545	$	—	$	454,545









Other assets:

Deferred compensation plan investments	63,211		—		63,211

Total assets measured at fair value	$	517,756	$	—	$	517,756
Liabilities

Forward foreign currency exchange contracts	$	—	$	16,984	$	16,984

Total liabilities measured at fair value	$	—	$	16,984	$	16,984

Schedule of debt

The table below presents the estimated fair values of certain financial instruments not recorded at fair value on a recurring basis. The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy.


	July 29, 2023				October 29, 2022
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value
2024 Notes, due October 2024	$	500,000	$	499,598	$	500,000	$	491,982
2025 Notes, due April 2025	400,000		385,529		400,000		383,378
2026 Notes, due December 2026	900,000		864,607		900,000		851,479
Maxim 2027 Notes, due June 2027	—		—		59,788		54,771
2027 Notes, due June 2027	440,212		416,545		440,212		410,091
2028 Notes, due October 2028	750,000		641,711		750,000		621,093
2031 Notes, due October 2031	1,000,000		819,159		1,000,000		786,772
2032 Notes, due October 2032	300,000		284,756		300,000		278,359
2036 Notes, due December 2036	144,278		128,486		144,278		126,274
2041 Notes, due October 2041	750,000		541,855		750,000		513,709
2045 Notes, due December 2045	332,587		324,731		332,587		313,931
2051 Notes, due October 2051	1,000,000		689,039		1,000,000		640,766
Total debt	$	6,517,077	$	5,596,016	$	6,576,865	$	5,472,605

Accumulated Other Comprehensive (Loss) Income - Amounts Reclassified Out of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 1,114,880	$ 1,066,738	$ 3,358,553	$ 3,376,578
Research and development	423,751	431,829	1,253,600	1,279,510
Selling, marketing, general and administrative	334,113	326,942	984,648	929,615
Interest expense	69,346	51,189	193,051	152,701
Total before tax	(874,821)	(847,937)	(3,036,217)	(2,050,737)
Tax	(2,198)	98,952	220,068	238,402
Net of tax	(877,019)	(748,985)	(2,816,149)	(1,812,335)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	3,850	9,854	10,004	26,283
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized holding (gains) losses on derivatives:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	4,541	9,836	11,452	28,103
Tax	(1,084)	(423)	(2,587)	(3,209)
Net of tax	3,457	9,413	8,865	24,894
Reclassification out of Accumulated Other Comprehensive Income \| Pension plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	393	441	1,139	1,389
Reclassification out of Accumulated Other Comprehensive Income \| Currency forwards \| Unrealized holding (gains) losses on derivatives:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	650	2,520	933	6,384
Research and development	560	1,320	683	3,903
Selling, marketing, general and administrative	(400)	2,265	(1,353)	6,623
Reclassification out of Accumulated Other Comprehensive Income \| Interest rate derivatives \| Unrealized holding (gains) losses on derivatives:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 3,731	$ 3,731	$ 11,189	$ 11,193

Revenue

9 Months Ended

Jul. 29, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue Trends by End Market

end market.


	Three Months Ended
	July 29, 2023						July 30, 2022
	Revenue		% of Revenue*		Y/Y%		Revenue		% of Revenue*
Industrial	$	1,629,201	53	%	4	%	$	1,566,885	50	%
Automotive	747,554		24	%	15	%	648,153		21	%
Communications	380,504		12	%	(23)	%	491,515		16	%
Consumer	319,236		10	%	(21)	%	403,327		13	%


Total revenue	$	3,076,495	100	%	(1)	%	$	3,109,880	100	%


	Nine Months Ended
	July 29, 2023						July 30, 2022
	Revenue		% of Revenue*		Y/Y%		Revenue		% of Revenue*
Industrial	$	5,092,879	53	%	15	%	$	4,439,232	51	%
Automotive	2,226,277		23	%	23	%	1,810,803		21	%
Communications	1,319,931		14	%	(4)	%	1,378,352		16	%
Consumer	949,968		10	%	(17)	%	1,137,850		13	%
Total revenue	$	9,589,055	100	%	9	%	$	8,766,237	100	%
* The sum of the individual percentages may not equal the total due to rounding.

Revenue by Sales Channel


	Three Months Ended
	July 29, 2023				July 30, 2022
Channel	Revenue		% of Revenue*		Revenue		% of Revenue*
Distributors	$	1,904,496	62	%	$	1,922,982	62	%
Direct customers	1,126,796		37	%	1,146,538		37	%
Other	45,203		1	%	40,360		1	%
Total revenue	$	3,076,495	100	%	$	3,109,880	100	%


	Nine Months Ended
	July 29, 2023				July 30, 2022
Channel	Revenue		% of Revenue*		Revenue		% of Revenue*
Distributors	$	5,912,229	62	%	$	5,426,024	62	%
Direct customers	3,547,116		37	%	3,241,429		37	%
Other	129,710		1	%	98,784		1	%
Total revenue	$	9,589,055	100	%	$	8,766,237	100	%
* The sum of the individual percentages may not equal the total due to rounding.

- 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
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-Section 50
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+ Details

New Accounting Pronouncements	9 Months Ended
New Accounting Pronouncements	Jul. 29, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Standards to Be Implemented Acquired Contract Assets and Contract Liabilities In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2021-08, Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities. Under the new guidance (ASC 805-20-30-28), the acquirer should determine what contract assets and/or contract liabilities it would have recorded under ASC 606 (the revenue guidance) as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. The recognition and measurement of those contract assets and contract liabilities will likely be comparable to what the acquiree has recorded on its books under ASC 606 as of the acquisition date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASU 2021-08 is effective for the Company in the first quarter of the fiscal year ending November 2, 2024. Early adoption is permitted, including in an interim period, for any period for which financial statements have not yet been issued. However, adoption in an interim period other than the first fiscal quarter requires an entity to apply the new guidance to all prior business combinations that have occurred since the beginning of the annual period in which the new guidance is adopted. The Company is currently evaluating the adoption date of ASU 2021-08 and the impact, if any, adoption will have on its financial position and results of operations.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (c)(3)
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-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
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-Name Accounting Standards Codification
-Section 65
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

+ Details

Accumulated Other Comprehensive (Loss) Income

9 Months Ended

Jul. 29, 2023

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income

The following table provides the changes in accumulated other comprehensive (loss) income (AOCI) by component and the related tax effects during the first nine months of fiscal 2023.


	Foreign currency translation adjustment		Unrealized holding gains (losses) on derivatives		Pension plans		Total
October 29, 2022	$	(72,136)	$	(119,613)	$	(6,403)	$	(198,152)
Other comprehensive income before reclassifications	343		18,754		79		19,176
Amounts reclassified out of other comprehensive income	—		11,452		1,139		12,591
Tax effects	—		(4,469)		—		(4,469)
Other comprehensive income	343		25,737		1,218		27,298

July 29, 2023	$	(71,793)	$	(93,876)	$	(5,185)	$	(170,854)

The amounts reclassified out of AOCI into the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements of Shareholders' Equity with presentation location during each period were as follows:


	Three Months Ended				Nine Months Ended
Comprehensive (Loss) Income Component	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022		Location
Unrealized holding (gains) losses on derivatives:
Currency forwards	$	650	$	2,520	$	933	$	6,384	Cost of sales
	560		1,320		683		3,903		Research and development
	(400)		2,265		(1,353)		6,623		Selling, marketing, general and administrative

Interest rate derivatives	3,731		3,731		11,189		11,193		Interest expense

	4,541		9,836		11,452		28,103		Total before tax
	(1,084)		(423)		(2,587)		(3,209)		Tax

	$	3,457	$	9,413	$	8,865	$	24,894	Net of tax

Amortization of pension components included in the computation of net periodic pension cost:




Actuarial losses	$	393	$	441	$	1,139	$	1,389	Net of tax

Total amounts reclassified out of AOCI, net of tax	$	3,850	$	9,854	$	10,004	$	26,283

Derivatives - Interest Rate Derivatives (Details) - Interest rate swap $ in Thousands	9 Months Ended
	Jul. 29, 2023 USD ($)
Accrued liabilities
Derivatives, Fair Value [Line Items]
Loss on Swaps	$ 45,620
Gain on Note	0
Long term debt
Derivatives, Fair Value [Line Items]
Loss on Swaps	0
Gain on Note	$ 45,620

Derivatives - Textual (Details) - USD ($)	Jul. 29, 2023	Oct. 29, 2022
Forward foreign currency exchange contract
Derivative [Line Items]
Notional amount of cash flow hedges	$ 296,800,000	$ 307,100,000
Notional amount of derivative	412,600,000	$ 246,400,000
Interest rate swap \| 2031 Notes, due October 2031 \| Senior notes
Derivative [Line Items]
Principal	$ 1,000,000,000
Interest rate	2.10%
Interest rate derivatives, fair value	$ 0

Shareholders' Equity	9 Months Ended
Shareholders' Equity	Jul. 29, 2023
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' EquityAs of July 29, 2023, the Company had repurchased a total of approximately 202.9 million shares of its common stock for approximately $14.1 billion under the Company's share repurchase program. As of July 29, 2023, an additional $2.6 billion remains available for repurchase of shares under the current authorized program. The Company also repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units/awards or the exercise of stock options as well as for the Company's employee stock purchase plan. Future repurchases of common stock will be dependent upon the Company's financial position, results of operations, outlook, liquidity and other factors deemed relevant by the Company.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
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-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 16
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Income Tax Disclosure [Abstract]
Federal statutory rate (as percent)	21.00%	21.00%	21.00%	21.00%
Income tax benefit, discrete	$ 81.1
Maxim \| Settlement with Taxing Authority
Income Tax Contingency [Line Items]
Decrease in unrealized tax benefits is reasonably possible	$ 133.0		$ 133.0

Special Charges, Net (Tables)

9 Months Ended

Jul. 29, 2023

Restructuring and Related Activities [Abstract]

Schedule of accrued restructuring

Liabilities related to special charges, net are included in Accrued liabilities and Other non-current liabilities in the Condensed Consolidated Balance Sheets. The activity is detailed below:


Accrued Special Charges	Global Repositioning Actions















































Balance at October 29, 2022	$	52,070


Severance and benefit payments	(16,298)


Balance at January 28, 2023	$	35,772


Severance and benefit payments	(22,820)


Employee severance and benefit costs	23,136
Balance at April 29, 2023	$	36,088
Severance and benefit payments	(12,530)

Employee severance and benefit costs	21,928


Balance at July 29, 2023	$	45,486
Accrued liabilities	$	22,350
Other non-current liabilities	$	23,136

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022
Cash flows from operating activities:
Net income	$ 2,816,149	$ 1,812,335
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	251,785	212,635
Amortization of intangibles	1,505,201	1,512,250
Cost of goods sold for inventory acquired	0	271,396
Stock-based compensation expense	227,113	242,809
Non-cash impairment charge	0	91,953
Gain on sale of property, plant and equipment	0	(4,352)
Deferred income taxes	(431,393)	(205,128)
Operating lease assets and liabilities	4,945	(17,958)
Other	14,185	(7,061)
Changes in operating assets and liabilities	(757,645)	(582,813)
Total adjustments	814,191	1,513,731
Net cash provided by operating activities	3,630,340	3,326,066
Cash flows from investing activities:
Additions to property, plant and equipment	(785,070)	(394,796)
Other	(2,254)	43,761
Net cash used for investing activities	(787,324)	(351,035)
Cash flows from financing activities:
Proceeds from revolver	0	400,000
Payments on revolver	0	(400,000)
Early termination of debt	(65,688)	(519,116)
Proceeds from commercial paper notes	2,646,509	0
Payments of commercial paper notes	(2,101,799)	0
Repurchase of common stock	(2,494,018)	(1,758,832)
Dividend payments to shareholders	(1,251,121)	(1,154,207)
Proceeds from employee stock plans	113,002	30,013
Other	(11,227)	(1,718)
Net cash used for financing activities	(3,164,342)	(3,403,860)
Effect of exchange rate changes on cash	0	(24,175)
Net decrease in cash and cash equivalents	(321,326)	(453,004)
Cash and cash equivalents at beginning of period	1,470,572	1,977,964
Cash and cash equivalents at end of period	$ 1,149,246	$ 1,524,960

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Oct. 30, 2021		525,331,000
Beginning balance at Oct. 30, 2021		$ 87,554	$ 30,574,237	$ 7,517,316	$ (186,565)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 1,812,335			1,812,335
Dividends declared and paid				(1,154,207)
Issuance of stock under stock plans and other (in shares)		2,396,000
Issuance of stock under stock plans and other		$ 400	29,613
Stock-based compensation expense			242,809
Other comprehensive income (loss)	(26,069)				(26,069)
Common stock repurchased (in shares)		(13,386,000)
Common stock repurchased		$ (2,229)	(2,256,603)
Ending balance (in shares) at Jul. 30, 2022		514,341,000
Ending balance at Jul. 30, 2022		$ 85,725	28,590,056	8,175,444	(212,634)
Beginning balance (in shares) at Apr. 30, 2022		519,806,000
Beginning balance at Apr. 30, 2022		$ 86,636	29,400,284	7,820,477	(207,615)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	748,985			748,985
Dividends declared and paid				(394,018)
Issuance of stock under stock plans and other (in shares)		413,000
Issuance of stock under stock plans and other		$ 69	9,891
Stock-based compensation expense			84,874
Other comprehensive income (loss)	$ (5,019)				(5,019)
Common stock repurchased (in shares)		(5,878,000)
Common stock repurchased		$ (980)	(904,993)
Ending balance (in shares) at Jul. 30, 2022		514,341,000
Ending balance at Jul. 30, 2022		$ 85,725	28,590,056	8,175,444	(212,634)
Beginning balance (in shares) at Oct. 29, 2022	509,295,941	509,296,000
Beginning balance at Oct. 29, 2022	$ 36,465,323	$ 84,880	27,857,270	8,721,325	(198,152)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,816,149
Dividends declared and paid				(1,251,121)
Issuance of stock under stock plans and other (in shares)		2,963,000
Issuance of stock under stock plans and other		$ 494	112,508
Stock-based compensation expense			227,113
Other comprehensive income (loss)	$ 27,298				27,298
Common stock repurchased (in shares)		(13,945,000)
Common stock repurchased		$ (2,320)	(2,491,698)
Ending balance (in shares) at Jul. 29, 2023	498,313,956	498,314,000
Ending balance at Jul. 29, 2023	$ 35,903,746	$ 83,054	25,705,193	10,286,353	(170,854)
Beginning balance (in shares) at Apr. 29, 2023		501,418,000
Beginning balance at Apr. 29, 2023		$ 83,571	26,262,226	9,839,790	(172,363)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	877,019			877,019
Dividends declared and paid				(430,456)
Issuance of stock under stock plans and other (in shares)		583,000
Issuance of stock under stock plans and other		$ 97	45,893
Stock-based compensation expense			82,970
Other comprehensive income (loss)	$ 1,509				1,509
Common stock repurchased (in shares)		(3,687,000)
Common stock repurchased		$ (614)	(685,896)
Ending balance (in shares) at Jul. 29, 2023	498,313,956	498,314,000
Ending balance at Jul. 29, 2023	$ 35,903,746	$ 83,054	$ 25,705,193	$ 10,286,353	$ (170,854)

Debt (Details) - USD ($)				3 Months Ended
Debt (Details) - USD ($)	Apr. 26, 2023	Apr. 14, 2023	Jun. 23, 2021	Jan. 28, 2023	Aug. 18, 2023	Jul. 29, 2023	Oct. 29, 2022
Debt Instrument [Line Items]
Long-term debt						$ 6,517,077,000	$ 6,576,865,000
Commercial paper notes						544,710,000	0
2027 Notes, due June 2027 \| Senior notes
Debt Instrument [Line Items]
Long-term debt						440,212,000	440,212,000
2027 Notes, due June 2027 \| Senior notes \| Subsequent event
Debt Instrument [Line Items]
Interest rate					3.45%
Issued senior notes					$ 440,200,000
2027 Notes, due June 2027 \| Senior notes \| Maxim
Debt Instrument [Line Items]
Long-term debt	$ 59,800,000					0	$ 59,788,000
Interest rate	3.45%
Redemption price percentage	101.255%
Revolving credit facility
Debt Instrument [Line Items]
Debt instrument, term			5 years
Amount available under credit facility			$ 2,500,000,000
Credit spread adjustment				0.10%
Long-term debt						$ 0
Revolving credit facility \| Secured Overnight Financing Rate (SOFR) \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				0.69%
Revolving credit facility \| Secured Overnight Financing Rate (SOFR) \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate				1.175%
Commercial paper \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, term		397 days
Amount available under credit facility		$ 2,500,000,000

Derivatives

9 Months Ended

Jul. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

Foreign Exchange Exposure Management — The total notional amounts of forward foreign currency derivative instruments designated as hedging instruments of cash flow hedges denominated in Euros, British Pounds, Philippine Pesos, Thai Baht, South Korean Won and Japanese Yen as of July 29, 2023 and October 29, 2022 were $296.8 million and $307.1 million, respectively. The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s Condensed Consolidated Balance Sheets as of July 29, 2023 and October 29, 2022 were as follows:


		Fair Value At
	Balance Sheet Location	July 29, 2023		October 29, 2022
Forward foreign currency exchange contracts	Prepaid expenses and other current assets	$	5,097	$	—
Forward foreign currency exchange contracts	Accrued liabilities	$	—	$	18,050

As of July 29, 2023 and October 29, 2022, the total notional amounts of undesignated hedges related to forward foreign currency exchange contracts were $412.6 million and $246.4 million, respectively.

The following table presents the gross amounts of the Company's forward foreign currency exchange contract derivative assets and liabilities and the net amounts recorded in the Company's Condensed Consolidated Balance Sheets:


	July 29, 2023		October 29, 2022
Gross amounts of recognized liabilities	$	(4,206)	$	(19,846)
Gross amount of recognized assets	13,116		2,862

Net assets (liabilities) presented in the Condensed Consolidated Balance Sheets	$	8,910	$	(16,984)

Interest Rate Exposure Management — The Company's current and future debt may be subject to interest rate risk. The Company utilizes interest rate derivatives to alter interest rate exposure in an attempt to reduce the effects of changes in interest rates. During fiscal 2023, the Company entered into interest rate swap transactions related to its outstanding $1,000.0 million aggregate principal amount of 2.1% senior unsecured notes (the 2031 Notes) where the Company swapped the notional amount of its $1,000.0 million of fixed rate debt at 2.1% into floating interest rate debt through April 1, 2031. The fair value of the swaps at inception was zero and subsequent changes in the fair value of the interest rate swaps were reflected in the carrying value of the interest rate swaps on the balance sheet. The carrying value of the debt on the balance sheet was adjusted by an equal and offsetting amount. The interest rate swaps were designated and qualified as fair value hedges. The Company does not

consider the risk of counterparty default to be significant. The gain or loss on the hedged item attributable to the hedged benchmark interest rate risk and the offsetting gain or loss on the related interest rate swaps were recorded as follows:


	July 29, 2023
Balance Sheet Location	Loss on Swaps		Gain on Note
Accrued liabilities	$	45,620	$	—
Long term debt	$	—	$	45,620

For information on the unrealized holding gains (losses) on derivatives included in and reclassified out of AOCI into the Condensed Consolidated Statements of Income related to forward foreign currency exchange contracts, see Note 3, Accumulated Other Comprehensive (Loss) Income, in these Notes to Condensed Consolidated Financial Statements for further information.

Property, Plant and Equipment (Details) $ in Thousands	Jul. 29, 2023 USD ($)
Long Lived Assets Held-for-sale [Line Items]
Less accumulated depreciation and amortization	$ (21,577)
Net property, plant and equipment reclassified to Prepaid expenses and other current assets	44,731
Land and buildings
Long Lived Assets Held-for-sale [Line Items]
Land and buildings	$ 66,308

Subsequent Events	9 Months Ended
Subsequent Events	Jul. 29, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On August 18, 2023, the Company commenced an offer to exchange up to $440.2 million of newly registered new notes for up to $440.2 million of existing unregistered old notes. The terms of the new notes are identical in all material respects to the terms of the old notes for which they are being offered in exchange, except that the new notes have been registered under the Securities Act of 1933, as amended, and the transfer restrictions, registration rights and additional interest provisions relating to the old notes do not apply to the new notes. On August 22, 2023, the Board of Directors of the Company declared a cash dividend of $0.86 per outstanding share of common stock. The dividend will be paid on September 14, 2023 to all shareholders of record at the close of business on September 5, 2023 and is expected to total approximately $428.6 million.

Earnings Per Share

9 Months Ended

Jul. 29, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareThe following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended				Nine Months Ended
	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022
Net income	$	877,019	$	748,985	$	2,816,149	$	1,812,335



Basic shares:
Weighted-average shares outstanding	500,018		517,011		503,951		521,557
Earnings per common share basic:	$	1.75	$	1.45	$	5.59	$	3.47
Diluted shares:
Weighted-average shares outstanding	500,018		517,011		503,951		521,557
Assumed exercise of common stock equivalents	3,485		3,539		3,853		4,095
Weighted-average common and common equivalent shares	503,503		520,550		507,804		525,652
Earnings per common share diluted:	$	1.74	$	1.44	$	5.55	$	3.45
Anti-dilutive shares related to:
Outstanding stock-based awards	211		755		306		559

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 29, 2023	Oct. 29, 2022
Current Assets
Cash and cash equivalents	$ 1,149,246	$ 1,470,572
Accounts receivable	1,616,243	1,800,462
Inventories	1,709,313	1,399,914
Prepaid expenses and other current assets	360,383	267,044
Total current assets	4,835,185	4,937,992
Non-current Assets
Net property, plant and equipment	2,922,781	2,401,304
Goodwill	26,913,134	26,913,134
Intangible assets, net	11,762,655	13,265,406
Deferred tax assets	2,224,880	2,264,888
Other assets	688,104	519,626
Total non-current assets	44,511,554	45,364,358
TOTAL ASSETS	49,346,739	50,302,350
Current Liabilities
Accounts payable	585,570	582,160
Income taxes payable	423,438	265,845
Commercial paper notes	544,710	0
Accrued liabilities	1,277,300	1,594,650
Total current liabilities	2,831,018	2,442,655
Non-current Liabilities
Long-term debt	6,437,650	6,548,625
Deferred income taxes	3,150,748	3,622,538
Income taxes payable	441,361	707,846
Other non-current liabilities	582,216	515,363
Total non-current liabilities	10,611,975	11,394,372
Shareholders’ Equity
Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding	0	0
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 498,313,956 shares outstanding (509,295,941 on October 29, 2022)	83,054	84,880
Capital in excess of par value	25,705,193	27,857,270
Retained earnings	10,286,353	8,721,325
Accumulated other comprehensive loss	(170,854)	(198,152)
Total shareholders’ equity	35,903,746	36,465,323
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 49,346,739	$ 50,302,350

Revenue - Revenue Trends by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 3,076,495	$ 3,109,880	$ 9,589,055	$ 8,766,237
Percent of revenue (as percent)	100.00%	100.00%	100.00%	100.00%
Year over year change (as percent)	(1.00%)		9.00%
Industrial
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,629,201	$ 1,566,885	$ 5,092,879	$ 4,439,232
Percent of revenue (as percent)	53.00%	50.00%	53.00%	51.00%
Year over year change (as percent)	4.00%		15.00%
Automotive
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 747,554	$ 648,153	$ 2,226,277	$ 1,810,803
Percent of revenue (as percent)	24.00%	21.00%	23.00%	21.00%
Year over year change (as percent)	15.00%		23.00%
Communications
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 380,504	$ 491,515	$ 1,319,931	$ 1,378,352
Percent of revenue (as percent)	12.00%	16.00%	14.00%	16.00%
Year over year change (as percent)	(23.00%)		(4.00%)
Consumer
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 319,236	$ 403,327	$ 949,968	$ 1,137,850
Percent of revenue (as percent)	10.00%	13.00%	10.00%	13.00%
Year over year change (as percent)	(21.00%)		(17.00%)

- Definition

+ References

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Pay vs Performance Disclosure
Net income	$ 877,019	$ 748,985	$ 2,816,149	$ 1,812,335

- 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

Derivatives - Forward Foreign Currency Balance Sheet (Details) - Forward foreign currency exchange contracts - USD ($) $ in Thousands	Jul. 29, 2023	Oct. 29, 2022
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Foreign currency contracts, liability	$ 5,097	$ 0
Accrued liabilities
Derivatives, Fair Value [Line Items]
Foreign currency contracts, liability	$ 0	$ 18,050

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Earnings per share
Net income	$ 877,019	$ 748,985	$ 2,816,149	$ 1,812,335
Basic shares:
Weighted-average shares outstanding (in shares)	500,018	517,011	503,951	521,557
Earnings per common share, basic (in dollars per share)	$ 1.75	$ 1.45	$ 5.59	$ 3.47
Diluted shares:
Assumed exercise of common stock equivalents (in shares)	3,485	3,539	3,853	4,095
Weighted-average common and common equivalent shares (in shares)	503,503	520,550	507,804	525,652
Earnings per common share, diluted (in dollars per share)	$ 1.74	$ 1.44	$ 5.55	$ 3.45
Anti-dilutive shares related to:
Outstanding stock-based awards (in shares)	211	755	306	559

Special Charges, Net (Details) - Global Repositioning Actions - USD ($) $ in Thousands	3 Months Ended
	Jul. 29, 2023	Apr. 29, 2023	Jan. 28, 2023
Restructuring Reserve [Roll Forward]
Accrued restructuring, beginning balance	$ 36,088	$ 35,772	$ 52,070
Severance and benefit payments	(12,530)	(22,820)	(16,298)
Employee severance and benefit costs	21,928	23,136
Accrued restructuring, ending balance	45,486	$ 36,088	$ 35,772
Accrued liabilities	22,350
Other non-current liabilities	$ 23,136

Property, Plant and Equipment (Tables)

9 Months Ended

Jul. 29, 2023

Property, Plant and Equipment [Abstract]

Schedule of long lived assets held-for-sale

As of July 29, 2023, prepaid expenses and other current assets includes the following assets held for sale:



Land and buildings	$	66,308
Less accumulated depreciation and amortization	(21,577)
Net property, plant and equipment reclassified to Prepaid expenses and other current assets	$	44,731

Accumulated Other Comprehensive (Loss) Income (Tables)

9 Months Ended

Jul. 29, 2023

Equity [Abstract]

Schedule of components of accumulated other comprehensive (loss) income, net of tax

The following table provides the changes in accumulated other comprehensive (loss) income (AOCI) by component and the related tax effects during the first nine months of fiscal 2023.


	Foreign currency translation adjustment		Unrealized holding gains (losses) on derivatives		Pension plans		Total
October 29, 2022	$	(72,136)	$	(119,613)	$	(6,403)	$	(198,152)
Other comprehensive income before reclassifications	343		18,754		79		19,176
Amounts reclassified out of other comprehensive income	—		11,452		1,139		12,591
Tax effects	—		(4,469)		—		(4,469)
Other comprehensive income	343		25,737		1,218		27,298

July 29, 2023	$	(71,793)	$	(93,876)	$	(5,185)	$	(170,854)

Schedule of reclassification out of accumulated other comprehensive (loss) income


	Three Months Ended				Nine Months Ended
Comprehensive (Loss) Income Component	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022		Location
Unrealized holding (gains) losses on derivatives:
Currency forwards	$	650	$	2,520	$	933	$	6,384	Cost of sales
	560		1,320		683		3,903		Research and development
	(400)		2,265		(1,353)		6,623		Selling, marketing, general and administrative

Interest rate derivatives	3,731		3,731		11,189		11,193		Interest expense

	4,541		9,836		11,452		28,103		Total before tax
	(1,084)		(423)		(2,587)		(3,209)		Tax

	$	3,457	$	9,413	$	8,865	$	24,894	Net of tax

Amortization of pension components included in the computation of net periodic pension cost:




Actuarial losses	$	393	$	441	$	1,139	$	1,389	Net of tax

Total amounts reclassified out of AOCI, net of tax	$	3,850	$	9,854	$	10,004	$	26,283

Inventories (Tables)

9 Months Ended

Jul. 29, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at July 29, 2023 and October 29, 2022 were as follows:


	July 29, 2023		October 29, 2022
Raw materials	$	130,031	$	110,908
Work in process	1,123,823		904,648
Finished goods	455,459		384,358
Total inventories	$	1,709,313	$	1,399,914

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Income Statement [Abstract]
Revenue	$ 3,076,495	$ 3,109,880	$ 9,589,055	$ 8,766,237
Cost of sales	1,114,880	1,066,738	3,358,553	3,376,578
Gross margin	1,961,615	2,043,142	6,230,502	5,389,659
Operating expenses:
Research and development	423,751	431,829	1,253,600	1,279,510
Selling, marketing, general and administrative	334,113	326,942	984,648	929,615
Amortization of intangibles	250,719	252,864	756,882	759,707
Special charges, net	23,539	138,201	46,675	244,603
Total operating expenses	1,032,122	1,149,836	3,041,805	3,213,435
Operating income:	929,493	893,306	3,188,697	2,176,224
Nonoperating expense (income):
Interest expense	69,346	51,189	193,051	152,701
Interest income	(8,794)	(1,797)	(32,198)	(2,578)
Other, net	(5,880)	(4,023)	(8,373)	(24,636)
Total nonoperating expense (income)	54,672	45,369	152,480	125,487
Income before income taxes	874,821	847,937	3,036,217	2,050,737
(Benefit from) provision for income taxes	(2,198)	98,952	220,068	238,402
Net income	$ 877,019	$ 748,985	$ 2,816,149	$ 1,812,335
Shares used to compute earnings per common share – basic (in shares)	500,018	517,011	503,951	521,557
Shares used to compute earnings per common share – diluted (in shares)	503,503	520,550	507,804	525,652
Basic earnings per common share (in dollars per share)	$ 1.75	$ 1.45	$ 5.59	$ 3.47
Diluted earnings per common share (in dollars per share)	$ 1.74	$ 1.44	$ 5.55	$ 3.45

Special Charges, Net

9 Months Ended

Jul. 29, 2023

Restructuring and Related Activities [Abstract]

Special Charges, Net

Special Charges, NetLiabilities related to special charges, net are included in Accrued liabilities and Other non-current liabilities in the Condensed Consolidated Balance Sheets. The activity is detailed below:


Accrued Special Charges	Global Repositioning Actions















































Balance at October 29, 2022	$	52,070


Severance and benefit payments	(16,298)


Balance at January 28, 2023	$	35,772


Severance and benefit payments	(22,820)


Employee severance and benefit costs	23,136
Balance at April 29, 2023	$	36,088
Severance and benefit payments	(12,530)

Employee severance and benefit costs	21,928


Balance at July 29, 2023	$	45,486
Accrued liabilities	$	22,350
Other non-current liabilities	$	23,136

Inventories (Details) - USD ($) $ in Thousands	Jul. 29, 2023	Oct. 29, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 130,031	$ 110,908
Work in process	1,123,823	904,648
Finished goods	455,459	384,358
Total inventories	$ 1,709,313	$ 1,399,914

Debt	9 Months Ended
Debt	Jul. 29, 2023
Debt Disclosure [Abstract]
Debt	Debt Revolving Credit Facility. On June 23, 2021, the Company entered into a Third Amended and Restated Credit Agreement (Revolving Credit Agreement) with Bank of America, N.A. as administrative agent and the other banks identified therein as lenders. The Revolving Credit Agreement provides for a five year unsecured revolving credit facility in an aggregate principal amount not to exceed $2.5 billion (subject to certain terms and conditions). In the first quarter of fiscal 2023, the Company amended the Revolving Credit Agreement, replacing the LIBOR interest rate provisions with interest rate provisions based on a forward-looking term rate based on the secured overnight financing rate (SOFR) plus a 10 basis point credit spread adjustment. After the amendment, revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement, as amended) at the Company's option. Each Term SOFR Loan will bear interest at a rate per annum equal to the applicable adjusted term SOFR plus a margin based on the Company's Debt Ratings (as defined in the Revolving Credit Agreement, as amended) from time to time of between 0.690% and 1.175%. As of July 29, 2023, the Company had no outstanding borrowings under this revolving credit facility but may borrow in the future and use the proceeds for repayment of existing indebtedness, stock repurchases, acquisitions, capital expenditures, working capital and other lawful corporate purposes. Outstanding Debt. On April 26, 2023, the Company redeemed for cash $59.8 million representing all of the outstanding 3.450% senior notes due June 15, 2027 issued by Maxim (Maxim Notes) in accordance with the terms of the indenture governing the Maxim Notes. The Maxim Notes were redeemed for cash at a redemption price equal to $1,012.55 for each $1,000 principal of the Maxim Notes and included accrued interest. On August 18, 2023, the Company commenced an offer to exchange up to $440.2 million of newly registered 3.450% Senior Notes due 2027 (new notes) for up to $440.2 million of existing unregistered 3.450% Senior Notes due 2027 (old notes). See Note 15, Subsequent Events, in these Notes to Consolidated Financial Statements for further information. Commercial Paper Program. On April 14, 2023, the Company established a commercial paper program under which the Company may issue short-term, unsecured commercial paper notes (CP Notes) in amounts up to a maximum aggregate face amount of $2.5 billion outstanding at any time, with maturities up to 397 days from the date of issuance. The CP Notes will be sold under customary market terms in the U.S. commercial paper market at a discount from par or at par and bear interest at rates determined at the time of issuance. The Company intends to use the net proceeds of the CP Notes for general corporate purposes, including without limitation, repayment of indebtedness, stock repurchases, acquisitions, capital expenditures and working capital. As of July 29, 2023, the Company had $544.7 million of outstanding borrowings under the commercial paper program recorded in the Condensed Consolidated Balance Sheet. The carrying value of the outstanding CP Notes approximated fair value at July 29, 2023.

Fair Value - Debt (Details) - USD ($) $ in Thousands	Jul. 29, 2023	Apr. 26, 2023	Oct. 29, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	$ 6,517,077		$ 6,576,865
Fair Value	5,596,016,000		5,472,605
Senior notes \| 2024 Notes, due October 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	500,000		500,000
Fair Value	499,598,000		491,982
Senior notes \| 2025 Notes, due April 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	400,000		400,000
Fair Value	385,529,000		383,378
Senior notes \| 2026 Notes, due December 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	900,000		900,000
Fair Value	864,607,000		851,479
Senior notes \| 2027 Notes, due June 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	440,212		440,212
Fair Value	416,545,000		410,091
Senior notes \| 2028 Notes, due October 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	750,000		750,000
Fair Value	641,711,000		621,093
Senior notes \| 2031 Notes, due October 2031
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	1,000,000		1,000,000
Fair Value	819,159,000		786,772
Senior notes \| 2032 Notes, due October 2032
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	300,000		300,000
Fair Value	284,756,000		278,359
Senior notes \| 2036 Notes, due December 2036
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	144,278		144,278
Fair Value	128,486,000		126,274
Senior notes \| 2041 Notes, due October 2041
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	750,000		750,000
Fair Value	541,855,000		513,709
Senior notes \| 2045 Notes, due December 2045
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	332,587		332,587
Fair Value	324,731,000		313,931
Senior notes \| 2051 Notes, due October 2051
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	1,000,000		1,000,000
Fair Value	689,039,000		640,766
Senior notes \| Maxim \| 2027 Notes, due June 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	0	$ 59,800	59,788
Fair Value	$ 0		$ 54,771

Earnings Per Share (Tables)

9 Months Ended

Jul. 29, 2023

Earnings Per Share [Abstract]

Computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended				Nine Months Ended
	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022
Net income	$	877,019	$	748,985	$	2,816,149	$	1,812,335



Basic shares:
Weighted-average shares outstanding	500,018		517,011		503,951		521,557
Earnings per common share basic:	$	1.75	$	1.45	$	5.59	$	3.47
Diluted shares:
Weighted-average shares outstanding	500,018		517,011		503,951		521,557
Assumed exercise of common stock equivalents	3,485		3,539		3,853		4,095
Weighted-average common and common equivalent shares	503,503		520,550		507,804		525,652
Earnings per common share diluted:	$	1.74	$	1.44	$	5.55	$	3.45
Anti-dilutive shares related to:
Outstanding stock-based awards	211		755		306		559

Fair Value - Textual (Details) - USD ($) $ in Thousands	Jul. 29, 2023	Oct. 29, 2022
Fair Value Disclosures [Abstract]
Cash	$ 691,200	$ 1,016,000
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial paper notes	544,710	$ 0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial paper notes	$ 545,400

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References + Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jul. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesOn March 17, 2022, Walter E. Ryan and Ryan Asset Management, LLC, purported stockholders of Maxim Integrated Products, Inc. (Maxim), filed a putative class action in the Court of Chancery of the State of Delaware (C.A. No. 2022—0255) against the Company and the former directors of Maxim. The complaint alleges breaches of fiduciary duties by the individual defendants in connection with Maxim’s agreement, as part of the merger negotiations with the Company, to suspend Maxim dividends for up to four quarters prior to the closing of the Company's acquisition of Maxim. The complaint further alleges that the Company aided and abetted those alleged breaches of fiduciary duties. The plaintiffs seek damages in an amount to be determined at trial, plaintiffs’ costs and disbursements, including reasonable attorneys’ and experts’ fees, costs and other expenses. On May 2, 2023, the Court of Chancery entered an order dismissing the action in its entirety and with prejudice. On May 9, 2023, the plaintiffs filed a Motion for Reargument, which the Court denied on May 30, 2023. On June 21, 2023, the plaintiffs filed a Notice of Appeal to the Delaware Supreme Court and on August 8, 2023, the plaintiffs filed their Opening Brief in support of their appeal. The appeal remains pending. The Company believes that it and the other defendants have meritorious arguments in response to the appeal and defenses to the underlying allegations; however, the Company is currently unable to determine the ultimate outcome of this matter or determine an estimate, or a range of estimates, of potential losses, if any.

Fair Value - Assets and Liabilities (Details) - Recurring - USD ($) $ in Thousands	Jul. 29, 2023	Oct. 29, 2022
Other assets:
Deferred compensation plan investments	$ 80,844	$ 63,211
Forward foreign currency exchange contracts	8,910
Total assets measured at fair value	547,751	517,756
Liabilities
Interest rate derivatives	45,620
Forward foreign currency exchange contracts		16,984
Total liabilities measured at fair value	45,620	16,984
Government and institutional money market funds
Available-for-sale:
Cash equivalents available for sale	457,997	454,545
Quoted Prices in Active Markets for Identical Assets (Level 1)
Other assets:
Deferred compensation plan investments	80,844	63,211
Forward foreign currency exchange contracts	0
Total assets measured at fair value	538,841	517,756
Liabilities
Interest rate derivatives	0
Forward foreign currency exchange contracts		0
Total liabilities measured at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Government and institutional money market funds
Available-for-sale:
Cash equivalents available for sale	457,997	454,545
Significant Other Observable Inputs (Level 2)
Other assets:
Deferred compensation plan investments	0	0
Forward foreign currency exchange contracts	8,910
Total assets measured at fair value	8,910	0
Liabilities
Interest rate derivatives	45,620
Forward foreign currency exchange contracts		16,984
Total liabilities measured at fair value	45,620	16,984
Significant Other Observable Inputs (Level 2) \| Government and institutional money market funds
Available-for-sale:
Cash equivalents available for sale	$ 0	$ 0

Accumulated Other Comprehensive (Loss) Income - Changes By Component and Tax Effect (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 36,465,323
Other comprehensive income before reclassifications			19,176
Amounts reclassified out of other comprehensive income			12,591
Tax effects			(4,469)
Other comprehensive income (loss)	$ 1,509	$ (5,019)	27,298	$ (26,069)
Ending balance	35,903,746		35,903,746
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(172,363)	(207,615)	(198,152)	(186,565)
Other comprehensive income (loss)	1,509	(5,019)	27,298	(26,069)
Ending balance	(170,854)	$ (212,634)	(170,854)	$ (212,634)
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(72,136)
Other comprehensive income before reclassifications			343
Amounts reclassified out of other comprehensive income			0
Tax effects			0
Other comprehensive income (loss)			343
Ending balance	(71,793)		(71,793)
Unrealized holding gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(119,613)
Other comprehensive income before reclassifications			18,754
Amounts reclassified out of other comprehensive income			11,452
Tax effects			(4,469)
Other comprehensive income (loss)			25,737
Ending balance	(93,876)		(93,876)
Pension plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(6,403)
Other comprehensive income before reclassifications			79
Amounts reclassified out of other comprehensive income			1,139
Tax effects			0
Other comprehensive income (loss)			1,218
Ending balance	$ (5,185)		$ (5,185)

Basis of Presentation	9 Months Ended
Basis of Presentation	Jul. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the information furnished in the accompanying condensed consolidated financial statements reflects all normal recurring adjustments that are necessary to fairly state the results for these interim periods and should be read in conjunction with Analog Devices, Inc.’s (the Company) Annual Report on Form 10-K for the fiscal year ended October 29, 2022 (fiscal 2022) and related notes. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for the fiscal year ending October 28, 2023 (fiscal 2023) or any future period. The Company has a 52-53 week fiscal year that ends on the Saturday closest to the last day in October. Certain amounts reported in previous periods have been reclassified to conform to the fiscal 2023 presentation.

Income Taxes	9 Months Ended
Income Taxes	Jul. 29, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rates for the three- and nine-month periods ended July 29, 2023 and July 30, 2022 were below the U.S. statutory tax rate of 21.0%, due to lower statutory tax rates applicable to the Company's operations in the foreign jurisdictions in which it earns income. The Company's effective tax rate also includes the effects of the mandatory capitalization and amortization of research and development expenses which began in fiscal 2023 under the Tax Cuts and Jobs Act of 2017 (Tax Cuts and Jobs Act). The mandatory capitalization requirement decreases the Company's effective tax rate primarily by increasing the foreign-derived intangible income deduction. The Company's effective tax rate for the third quarter of fiscal 2023 was also impacted by a discrete income tax benefit recorded of $81.1 million resulting from the approval granted by the Joint Committee on Taxation of its federal corporate income tax relief claim which reduced the amount of transition tax owed under the Tax Cuts and Jobs Act. It is reasonably possible that the balance of gross unrealized tax benefits, including accrued interest and penalties, could decrease by as much as approximately $133.0 million within the next twelve months due to the completion of tax audits, including any administrative appeals. The Company has numerous audits ongoing throughout the world including: an IRS income tax audit for the fiscal years ended November 3, 2018 and November 2, 2019; a pre-acquisition IRS income tax audit for Maxim's fiscal years ended June 27, 2015 through August 26, 2021; various U.S. state and local audits and various international audits, including an Irish Corporate Tax Audit for the fiscal year ended November 2, 2019. The Company's U.S. federal income tax returns prior to the fiscal year ended November 3, 2018 are no longer subject to examination, except for the applicable Maxim pre-acquisition fiscal years noted above.

- 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
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Shareholders' Equity (Details) shares in Millions, $ in Billions	Jul. 29, 2023 USD ($) shares
Stockholders' Equity Note [Abstract]
Stock repurchase program, number of shares authorized to be repurchased (in shares) \| shares	202.9
Stock repurchase program, authorized amount	$ 14.1
Stock repurchase program, remaining authorized repurchase amount	$ 2.6

Inventories

9 Months Ended

Jul. 29, 2023

Inventory Disclosure [Abstract]

Inventories

InventoriesInventories at July 29, 2023 and October 29, 2022 were as follows:


	July 29, 2023		October 29, 2022
Raw materials	$	130,031	$	110,908
Work in process	1,123,823		904,648
Finished goods	455,459		384,358
Total inventories	$	1,709,313	$	1,399,914

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Jul. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	The Company has a 52-53 week fiscal year that ends on the Saturday closest to the last day in October. Certain amounts reported in previous periods have been reclassified to conform to the fiscal 2023 presentation.
Standards to Be Implemented	Standards to Be Implemented Acquired Contract Assets and Contract Liabilities In October 2021, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2021-08, Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities. Under the new guidance (ASC 805-20-30-28), the acquirer should determine what contract assets and/or contract liabilities it would have recorded under ASC 606 (the revenue guidance) as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. The recognition and measurement of those contract assets and contract liabilities will likely be comparable to what the acquiree has recorded on its books under ASC 606 as of the acquisition date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASU 2021-08 is effective for the Company in the first quarter of the fiscal year ending November 2, 2024. Early adoption is permitted, including in an interim period, for any period for which financial statements have not yet been issued. However, adoption in an interim period other than the first fiscal quarter requires an entity to apply the new guidance to all prior business combinations that have occurred since the beginning of the annual period in which the new guidance is adopted. The Company is currently evaluating the adoption date of ASU 2021-08 and the impact, if any, adoption will have on its financial position and results of operations.

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jul. 29, 2023	Oct. 29, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	471,934	471,934
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.16	$ 0.16
Common stock, shares authorized (in shares)	1,200,000,000	1,200,000,000
Common stock, shares outstanding (in shares)	498,313,956	509,295,941

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jul. 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

Cover	9 Months Ended
Cover	Jul. 29, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 29, 2023
Document Transition Report	false
Entity File Number	1-7819
Entity Registrant Name	Analog Devices, Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2348234
Entity Address, Address Line One	One Analog Way,
Entity Address, City or Town	Wilmington,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01887
City Area Code	781
Local Phone Number	935-5565
Title of 12(b) Security	Common Stock $0.16 2/3 par value per share
Entity Trading Symbol	ADI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	498,313,956
Entity Central Index Key	0000006281
Current Fiscal Year End Date	--10-28
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 877,019	$ 748,985	$ 2,816,149	$ 1,812,335
Foreign currency translation adjustments	(1,292)	(9,028)	343	(31,500)
Change in fair value of derivative instruments designated as cash flow hedges, net	2,379	2,239	25,737	(471)
Changes in pension plans, net actuarial gain/loss and foreign currency translation adjustments, net	422	1,770	1,218	5,902
Other comprehensive income (loss)	1,509	(5,019)	27,298	(26,069)
Comprehensive income	$ 878,528	$ 743,966	$ 2,843,447	$ 1,786,266

- Definition

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

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Derivatives (Tables)

9 Months Ended

Jul. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of hedging instruments

The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s Condensed Consolidated Balance Sheets as of July 29, 2023 and October 29, 2022 were as follows:


		Fair Value At
	Balance Sheet Location	July 29, 2023		October 29, 2022
Forward foreign currency exchange contracts	Prepaid expenses and other current assets	$	5,097	$	—
Forward foreign currency exchange contracts	Accrued liabilities	$	—	$	18,050

Schedule of net amount of derivative assets and liabilities


	July 29, 2023		October 29, 2022
Gross amounts of recognized liabilities	$	(4,206)	$	(19,846)
Gross amount of recognized assets	13,116		2,862

Net assets (liabilities) presented in the Condensed Consolidated Balance Sheets	$	8,910	$	(16,984)

Schedule of interest rate derivatives

The gain or loss on the hedged item attributable to the hedged benchmark interest rate risk and the offsetting gain or loss on the related interest rate swaps were recorded as follows:


	July 29, 2023
Balance Sheet Location	Loss on Swaps		Gain on Note
Accrued liabilities	$	45,620	$	—
Long term debt	$	—	$	45,620

Derivatives - Net Amount of Derivative Assets and Liabilities (Details) - Forward foreign currency exchange contract - USD ($) $ in Thousands	Jul. 29, 2023	Oct. 29, 2022
Derivative [Line Items]
Gross amounts of recognized liabilities	$ (4,206)	$ (19,846)
Gross amount of recognized assets	13,116	2,862
Net assets (liabilities) presented in the Condensed Consolidated Balance Sheets	$ 8,910	$ (16,984)

Subsequent Events (Details) - Subsequent event - USD ($) $ / shares in Units, $ in Millions	Aug. 22, 2023	Aug. 18, 2023
Common Stock
Subsequent Event [Line Items]
Common stock cash dividends per share, declared (in dollars per share)	$ 0.86
Dividends	$ 428.6
2027 Notes, due June 2027 \| Senior notes
Subsequent Event [Line Items]
Issued senior notes		$ 440.2

Fair Value

9 Months Ended

Jul. 29, 2023

Fair Value Disclosures [Abstract]

Fair Value

Fair ValueThe tables below, set forth by level, present the Company’s financial assets and liabilities, excluding accrued interest components that were accounted for at fair value on a recurring basis as of July 29, 2023 and October 29, 2022. The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of July 29, 2023 and October 29, 2022, the Company held $691.2 million and $1,016.0 million, respectively, of cash that is

excluded from the tables below.


	July 29, 2023
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	457,997	$	—	$	457,997















Other assets:
Deferred compensation plan investments	80,844		—		80,844

Forward foreign currency exchange contracts	—		8,910		8,910
Total assets measured at fair value	$	538,841	$	8,910	$	547,751
Liabilities


Interest rate derivatives (1)	$	—	$	45,620	$	45,620
Total liabilities measured at fair value	$	—	$	45,620	$	45,620


	October 29, 2022
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	454,545	$	—	$	454,545









Other assets:

Deferred compensation plan investments	63,211		—		63,211

Total assets measured at fair value	$	517,756	$	—	$	517,756
Liabilities

Forward foreign currency exchange contracts	$	—	$	16,984	$	16,984

Total liabilities measured at fair value	$	—	$	16,984	$	16,984

In addition to the methods and assumptions used by the Company in estimating its fair value disclosure for financial instruments disclosed in Note 2j, Summary of Significant Accounting Policies, in the Company's Annual Report on Form 10-K for fiscal 2022, which was filed with the Securities and Exchange Commission on November 22, 2022, the following methods and assumptions were used by the Company in estimating its fair value disclosure for financial instruments:

Interest rate derivative — The fair value of interest rate derivatives is estimated using a discounted cash flow analysis based on the contractual terms of the derivatives.

Assets and Liabilities Not Recorded at Fair Value on a Recurring Basis

Held for sale assets — The Company has classified the assets held for sale at carrying value. However, if they were to be carried at fair value, they would be considered a Level 3 fair value measurement and would be determined based on the use of appraisals and input from market participants.

Commercial paper — The fair values of commercial paper are obtained from indicative market prices and are classified

as Level 2 measurements according to the fair value hierarchy. As of July 29, 2023, the fair value of the commercial paper notes was $545.4 million.

Debt — The table below presents the estimated fair values of certain financial instruments not recorded at fair value on a recurring basis. The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy.


	July 29, 2023				October 29, 2022
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value
2024 Notes, due October 2024	$	500,000	$	499,598	$	500,000	$	491,982
2025 Notes, due April 2025	400,000		385,529		400,000		383,378
2026 Notes, due December 2026	900,000		864,607		900,000		851,479
Maxim 2027 Notes, due June 2027	—		—		59,788		54,771
2027 Notes, due June 2027	440,212		416,545		440,212		410,091
2028 Notes, due October 2028	750,000		641,711		750,000		621,093
2031 Notes, due October 2031	1,000,000		819,159		1,000,000		786,772
2032 Notes, due October 2032	300,000		284,756		300,000		278,359
2036 Notes, due December 2036	144,278		128,486		144,278		126,274
2041 Notes, due October 2041	750,000		541,855		750,000		513,709
2045 Notes, due December 2045	332,587		324,731		332,587		313,931
2051 Notes, due October 2051	1,000,000		689,039		1,000,000		640,766
Total debt	$	6,517,077	$	5,596,016	$	6,576,865	$	5,472,605

- 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.

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