0000006281-24-000204 | 10-K | XBRL Viewer

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Revolving Credit Facility (Details) - Revolving Credit Facility - USD ($)		3 Months Ended	12 Months Ended
	Jun. 23, 2021	Jan. 28, 2023	Nov. 02, 2024
Line of Credit Facility [Line Items]
Debt instrument, term (in years)	5 years
Line of credit facility, maximum borrowing capacity	$ 2,500,000,000
Credit spread adjustment		0.10%
Long-term debt			$ 0
Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		0.69%
Commitment fee			0.06%
Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.175%
Commitment fee			0.20%

Summary of Significant Accounting Policies - Concentrations of Risk (Details) - Revenue Benchmark - Customer Concentration Risk

12 Months Ended

Nov. 02, 2024

Oct. 28, 2023

Oct. 29, 2022

Distributor 1

Concentration Risk [Line Items]

Concentration risk

24.00%

25.00%

22.00%

Distributor 2

Concentration Risk [Line Items]

Concentration risk

12.00%

10.00%

Distributor 3

Concentration Risk [Line Items]

Concentration risk

12.00%

^[1]

[1]	*Revenue for this distributor was not greater than 10% of total revenue for these periods.

Insider Trading Arrangements

3 Months Ended

12 Months Ended

Nov. 02, 2024

Trading Arrangements, by Individual

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Richard C. Puccio, Jr. [Member]

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by our directors or officers during the fourth quarter of fiscal 2024 that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (Rule 10b5-1 trading arrangement).


Name and Title	Date of Adoption	Duration of Rule 10b5-1 Trading Arrangement	Aggregate Number of Securities to Be Purchased or Sold
Richard C. Puccio, Jr. Executive Vice President and Chief Financial Officer	September 17, 2024	Until April 30, 2025, or such earlier date upon which all transactions are completed or expire without execution	Sale of up to 5,000 shares

Name

Richard C. Puccio, Jr.

Title

Executive Vice President and Chief Financial Officer

Rule 10b5-1 Arrangement Adopted

true

September 17, 2024

April 30, 2025

225 days

5,000

Industry, Segment and Geographic Information - Revenue Trends by End Market (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Segment Reporting Information [Line Items]
Revenue	$ 9,427,157	$ 12,305,539	$ 12,013,953
% of Total Revenue	100.00%	100.00%	100.00%
Industrial
Segment Reporting Information [Line Items]
Revenue	$ 4,314,280	$ 6,611,794	$ 6,230,874
% of Total Revenue	46.00%	54.00%	52.00%
Automotive
Segment Reporting Information [Line Items]
Revenue	$ 2,827,439	$ 2,876,140	$ 2,407,822
% of Total Revenue	30.00%	23.00%	20.00%
Communications
Segment Reporting Information [Line Items]
Revenue	$ 1,080,496	$ 1,606,426	$ 1,855,311
% of Total Revenue	11.00%	13.00%	15.00%
Consumer
Segment Reporting Information [Line Items]
Revenue	$ 1,204,942	$ 1,211,179	$ 1,519,946
% of Total Revenue	13.00%	10.00%	13.00%

- 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 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 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-Paragraph 32
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: 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 13: 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 - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
AOCI Attribute to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 35,565,122
Other comprehensive income before reclassifications	(3,148)
Amounts reclassified out of other comprehensive loss	11,200
Tax	(5,006)
Other comprehensive income (loss)	3,046	$ 9,850	$ (11,587)
Ending balance	35,176,317	35,565,122
Total
AOCI Attribute to Parent, Net of Tax [Roll Forward]
Beginning balance	(188,302)	(198,152)	(186,565)
Other comprehensive income (loss)	3,046	9,850	(11,587)
Ending balance	(185,256)	(188,302)	$ (198,152)
Foreign currency translation adjustment
AOCI Attribute to Parent, Net of Tax [Roll Forward]
Beginning balance	(72,544)
Other comprehensive income before reclassifications	1,033
Amounts reclassified out of other comprehensive loss	0
Tax	0
Other comprehensive income (loss)	1,033
Ending balance	(71,511)	(72,544)
Unrealized holding gains/losses on derivatives
AOCI Attribute to Parent, Net of Tax [Roll Forward]
Beginning balance	(102,043)
Other comprehensive income before reclassifications	10,481
Amounts reclassified out of other comprehensive loss	10,168
Tax	(3,808)
Other comprehensive income (loss)	16,841
Ending balance	(85,202)	(102,043)
Pension plans
AOCI Attribute to Parent, Net of Tax [Roll Forward]
Beginning balance	(13,715)
Other comprehensive income before reclassifications	(14,662)
Amounts reclassified out of other comprehensive loss	1,032
Tax	(1,198)
Other comprehensive income (loss)	(14,828)
Ending balance	$ (28,543)	$ (13,715)

Stock-Based Compensation and Shareholders’ Equity - Stock Options Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 02, 2024 USD ($) $ / shares shares
Options Outstanding
Options outstanding, beginning balance (in shares) \| shares	2,367
Options exercised (in shares) \| shares	(699)
Options forfeited (in shares) \| shares	(29)
Options outstanding, ending balance (in shares) \| shares	1,639
Options exercisable (in shares) \| shares	1,293
Options vested or expected to vest (in shares) \| shares	1,639
Weighted- Average Exercise Price Per Share
Options outstanding, beginning balance (in dollars per share) \| $ / shares	$ 96.33
Options exercised (in dollars per share) \| $ / shares	73.36
Options forfeited (in dollars per share) \| $ / shares	106.33
Options outstanding, ending balance (in dollars per share) \| $ / shares	105.95
Options exercisable (in dollars per share) \| $ / shares	95.65
Options vested or expected to vest (in dollars per share) \| $ / shares	$ 105.94
Options outstanding, weighted-average remaining contractual term (in years)	4 years 2 months 12 days
Options exercisable, weighted-average remaining contractual term (in years)	3 years 8 months 12 days
Options vested or expected to vest, weighted-average remaining contractual term (in years)	4 years 2 months 12 days
Options outstanding, aggregate intrinsic value \| $	$ 195,951
Options exercisable, aggregate intrinsic value \| $	167,918
Options vested or expected to vest, aggregate intrinsic value \| $	$ 195,911

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Nov. 02, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Leases - Maturity (Details) $ in Thousands	Nov. 02, 2024 USD ($)
Leases [Abstract]
2025	$ 83,059
2026	77,444
2027	69,160
2028	55,753
2029	50,990
Thereafter	98,450
Total future minimum operating lease payments	434,856
Less: imputed interest	(48,156)
Present value of operating lease liabilities	$ 386,700

Summary of Significant Accounting Policies - Grant Accounting (Details) - USD ($) $ in Millions	Nov. 02, 2024	Oct. 28, 2023
Accounting Policies [Abstract]
Grant receivable, liability	$ 106.3
Grant receivable, liability [Extensible Enumeration]	Accrued Income Taxes, Current
Grant receivable, assets	$ 174.5	$ 174.3
Grant receivable, assets [Extensible Enumeration]	Other assets	Other assets

Industry, Segment and Geographic Information (Tables)

12 Months Ended

Nov. 02, 2024

Segment Reporting [Abstract]

Schedule of revenue trends by end market

The following table summarizes 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 results within each end market.


	2024				2023				2022
	Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)
Industrial	$	4,314,280	46	%	$	6,611,794	54	%	$	6,230,874	52	%
Automotive	2,827,439		30	%	2,876,140		23	%	2,407,822		20	%
Communications	1,080,496		11	%	1,606,426		13	%	1,855,311		15	%
Consumer	1,204,942		13	%	1,211,179		10	%	1,519,946		13	%
Total revenue	$	9,427,157	100	%	$	12,305,539	100	%	$	12,013,953	100	%

_______________________________________

(1)The sum of the individual percentages may not equal the total due to rounding.

Schedule of revenue trends by sales channel

The following tables summarize revenue by sales 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 (OEMs). Other customers include the U.S. government, government prime contractors and certain commercial customers for which revenue is recorded over time.


	2024				2023				2022
	Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)
Distributors	$	5,505,779	58	%	$	7,534,894	61	%	$	7,458,478	62	%
Direct customers	3,772,945		40	%	4,603,166		37	%	4,423,883		37	%
Other	148,433		2	%	167,479		1	%	131,592		1	%
Total revenue	$	9,427,157	100	%	$	12,305,539	100	%	$	12,013,953	100	%

_______________________________________

(1)The sum of the individual percentages may not equal the total due to rounding.

Schedule of revenue trends and property, plant and equipment by geographic region

Geographic revenue information for fiscal 2024, fiscal 2023 and fiscal 2022 reflects the geographic location of the distributors or OEMs who purchased the Company’s products. This may differ from the geographic location of the end customers particularly in cases where a third-party contract manufacturer purchases the Company’s products through distributors. In all periods presented, the predominant regions comprising “Rest of North and South America” are Canada and Mexico; the predominant regions comprising “Europe” are Germany, Sweden, Israel and the Netherlands; and the predominant regions comprising “Rest of Asia” are Taiwan, Malaysia, South Korea and Singapore.


	2024		2023		2022
Revenue
United States	$	2,840,426	$	4,165,296	$	4,025,398
Rest of North and South America	62,318		88,579		72,497
Europe	2,109,529		3,001,871		2,534,423
Japan	1,085,631		1,397,119		1,221,549
China	2,128,840		2,229,631		2,563,536
Rest of Asia	1,200,413		1,423,043		1,596,550
Subtotal all foreign regions	6,586,731		8,140,243		7,988,555
Total revenue	$	9,427,157	$	12,305,539	$	12,013,953
Property, plant and equipment
United States	$	1,907,527	$	1,577,914	$	1,117,404
Ireland	625,658		573,684		343,728
Philippines	468,900		620,453		608,474
Thailand	195,150		209,660		143,558

Malaysia	108,286		123,574		119,670
All other regions	110,029		113,872		68,470
Subtotal all foreign regions	1,508,023		1,641,243		1,283,900
Total property, plant and equipment	$	3,415,550	$	3,219,157	$	2,401,304

Debt - Schedule of Debt (Details) - USD ($)	Nov. 02, 2024	Apr. 03, 2024	Oct. 28, 2023	Oct. 07, 2022	Sep. 15, 2022	Oct. 05, 2021	Apr. 08, 2020	Dec. 05, 2016	Dec. 14, 2015
Debt Instrument [Line Items]
Principal	$ 7,664,815,000		$ 7,064,301,000
Unamortized discounts, debt issuance costs and fair value adjustments	83,128,000		115,568,000
Senior Notes
Debt Instrument [Line Items]
Principal	7,117,077,000		6,517,077,000
2025 Notes, due April 2025 \| Senior Notes
Debt Instrument [Line Items]
Principal	400,000,000		400,000,000				$ 400,000,000
2026 Notes, due December 2026 \| Senior Notes
Debt Instrument [Line Items]
Principal	900,000,000		900,000,000					$ 900,000,000
2027 Notes, due June 2027 \| Senior Notes
Debt Instrument [Line Items]
Principal	440,212,000		440,212,000	$ 440,200,000
2028 Notes, due October 2028 \| Senior Notes
Debt Instrument [Line Items]
Principal	750,000,000		750,000,000			$ 750,000,000
2031 Notes, due October 2031 \| Senior Notes
Debt Instrument [Line Items]
Principal	1,000,000,000		1,000,000,000			1,000,000,000
2032 Notes, due October 2032 \| Senior Notes
Debt Instrument [Line Items]
Principal	300,000,000		300,000,000		$ 300,000,000
2034 Notes, due April 2034 \| Senior Notes
Debt Instrument [Line Items]
Principal	550,000,000	$ 550,000,000.0	0
2036 Notes, due December 2036 \| Senior Notes
Debt Instrument [Line Items]
Principal	144,278,000		144,278,000					$ 250,000,000
2041 Notes, due October 2041 \| Senior Notes
Debt Instrument [Line Items]
Principal	750,000,000		750,000,000			750,000,000
2045 Notes, due December 2045 \| Senior Notes
Debt Instrument [Line Items]
Principal	332,587,000		332,587,000						$ 400,000,000
2051 Notes, due October 2051 \| Senior Notes
Debt Instrument [Line Items]
Principal	1,000,000,000		1,000,000,000			1,000,000,000
2054 Notes, due April 2054 \| Senior Notes
Debt Instrument [Line Items]
Principal	550,000,000	$ 550,000,000.0	0
2024 Notes, due October 2024 \| Senior Notes
Debt Instrument [Line Items]
Principal	0		500,000,000			$ 500,000,000
Long-Term Debt
Debt Instrument [Line Items]
Principal	6,717,077,000		6,017,077,000
Unamortized discounts, debt issuance costs and fair value adjustments	82,764,000		114,620,000
Long-Term Debt \| 2025 Notes, due April 2025 \| Senior Notes
Debt Instrument [Line Items]
Principal	0		400,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	0		1,261,000
Long-Term Debt \| 2026 Notes, due December 2026 \| Senior Notes
Debt Instrument [Line Items]
Principal	900,000,000		900,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	2,691,000		3,983,000
Long-Term Debt \| 2027 Notes, due June 2027 \| Senior Notes
Debt Instrument [Line Items]
Principal	440,212,000		440,212,000
Unamortized discounts, debt issuance costs and fair value adjustments	(20,150,000)		(28,750,000)
Long-Term Debt \| 2028 Notes, due October 2028 \| Senior Notes
Debt Instrument [Line Items]
Principal	750,000,000		750,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	5,814,000		7,314,000
Long-Term Debt \| 2031 Notes, due October 2031 \| Senior Notes
Debt Instrument [Line Items]
Principal	1,000,000,000		1,000,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	46,450,000		92,599,000
Long-Term Debt \| 2032 Notes, due October 2032 \| Senior Notes
Debt Instrument [Line Items]
Principal	300,000,000		300,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	3,048,000		3,438,000
Long-Term Debt \| 2034 Notes, due April 2034 \| Senior Notes
Debt Instrument [Line Items]
Principal	550,000,000		0
Unamortized discounts, debt issuance costs and fair value adjustments	4,211,000		0
Long-Term Debt \| 2036 Notes, due December 2036 \| Senior Notes
Debt Instrument [Line Items]
Principal	144,278,000		144,278,000
Unamortized discounts, debt issuance costs and fair value adjustments	1,459,000		1,577,000
Long-Term Debt \| 2041 Notes, due October 2041 \| Senior Notes
Debt Instrument [Line Items]
Principal	750,000,000		750,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	11,503,000		12,190,000
Long-Term Debt \| 2045 Notes, due December 2045 \| Senior Notes
Debt Instrument [Line Items]
Principal	332,587,000		332,587,000
Unamortized discounts, debt issuance costs and fair value adjustments	3,458,000		3,623,000
Long-Term Debt \| 2051 Notes, due October 2051 \| Senior Notes
Debt Instrument [Line Items]
Principal	1,000,000,000		1,000,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	16,757,000		17,385,000
Long-Term Debt \| 2054 Notes, due April 2054 \| Senior Notes
Debt Instrument [Line Items]
Principal	550,000,000		0
Unamortized discounts, debt issuance costs and fair value adjustments	7,523,000		0
Current Debt
Debt Instrument [Line Items]
Principal	947,738,000		1,047,224,000
Unamortized discounts, debt issuance costs and fair value adjustments	364,000		948,000
Current Debt \| Commercial Paper
Debt Instrument [Line Items]
Principal	547,738,000		547,224,000
Unamortized discounts, debt issuance costs and fair value adjustments	0		0
Current Debt \| 2025 Notes, due April 2025 \| Senior Notes
Debt Instrument [Line Items]
Principal	400,000,000		0
Unamortized discounts, debt issuance costs and fair value adjustments	364,000		0
Current Debt \| 2024 Notes, due October 2024 \| Senior Notes
Debt Instrument [Line Items]
Principal	0		500,000,000
Unamortized discounts, debt issuance costs and fair value adjustments	$ 0		$ 948,000

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Nov. 02, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesFrom time to time, in the ordinary course of the Company’s business, The Company is involved in various claims, charges and litigation arising from, or related to, among other things, contractual matters, acquisitions, patents, trademarks, personal injury, environmental matters, product liability, insurance coverage, employment or employment benefits. As to such claims and litigation, the Company can give no assurance that it will prevail.

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Accounting Policies [Abstract]
Land and buildings	$ 2,061,751	$ 1,737,842
Machinery and equipment	4,456,926	4,355,651
Office equipment	477,884	373,126
Leasehold improvements	191,427	177,313
Property, plant and equipment, gross	7,187,988	6,643,932
Less accumulated depreciation and amortization	3,772,438	3,424,775
Net property, plant and equipment	$ 3,415,550	$ 3,219,157	$ 2,401,304

Retirement Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Net periodic pension cost
Service cost	$ 8,643	$ 7,728	$ 10,914
Interest cost	9,564	8,773	6,148
Expected return on plan assets	(5,061)	(5,236)	(4,540)
Recognized actuarial loss	1,345	1,168	2,299
Subtotal	14,491	12,433	14,821
Settlement impact	820	173	(35)
Net periodic benefit cost	$ 15,311	$ 12,606	$ 14,786
Net periodic benefit cost excluding service cost [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)

Debt (Tables)

12 Months Ended

Nov. 02, 2024

Debt Disclosure [Abstract]

Schedule of debt

The Company’s debt consisted of the following as of November 2, 2024 and October 28, 2023:


	November 2, 2024				October 28, 2023
	Principal		Unamortized discounts, debt issuance costs and fair value adjustments		Principal		Unamortized discount and debt issuance costs

2025 Notes, due April 2025	$	—	$	—	$	400,000	$	1,261
2026 Notes, due December 2026	900,000		2,691		900,000		3,983

2027 Notes, due June 2027	440,212		(20,150)		440,212		(28,750)
2028 Notes, due October 2028	750,000		5,814		750,000		7,314
2031 Notes, due October 2031 (1)	1,000,000		46,450		1,000,000		92,599
2032 Notes, due October 2032	300,000		3,048		300,000		3,438
2034 Notes, due April 2034	550,000		4,211		—		—
2036 Notes, due December 2036	144,278		1,459		144,278		1,577
2041 Notes, due October 2041	750,000		11,503		750,000		12,190
2045 Notes, due December 2045	332,587		3,458		332,587		3,623
2051 Notes, due October 2051	1,000,000		16,757		1,000,000		17,385
2054 Notes, due April 2054	550,000		7,523		—		—
Total Long-Term Debt	6,717,077		82,764		6,017,077		114,620


2024 Notes, due October 2024	—		—		500,000		948
2025 Notes, due April 2025	400,000		364		—		—
Commercial paper notes	547,738		—		547,224		—
Total Current Debt	947,738		364		1,047,224		948
Total Debt	$	7,664,815	$	83,128	$	7,064,301	$	115,568

_________________________________

(1) Includes fair value adjustment related to interest rate swap related to outstanding debt. See Note 2i, Derivative Instruments and Hedge Agreements, for more information.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Cash flows from operating activities:
Net income	$ 1,635,273	$ 3,314,579	$ 2,748,561
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	362,771	334,704	283,338
Amortization of intangibles	1,741,545	1,958,399	2,014,161
Cost of goods sold for inventory acquired	0	0	271,396
Stock-based compensation expense	262,710	299,823	323,487
Non-cash impairment charge	0	0	91,953
Deferred income taxes	(367,563)	(452,946)	(326,755)
Other	23,050	8,665	(47,074)
Change in operating assets and liabilities:
Accounts receivable	133,402	330,728	(343,908)
Inventories	191,170	(242,299)	(470,725)
Prepaid expenses and other current assets	(53,004)	4,543	(64,584)
Accounts payable and accrued liabilities	(133,758)	(499,316)	171,772
Income taxes payable, current	91,648	(263,716)	(91,852)
Other assets	(34,521)	(25,819)	397
Other liabilities	(194)	50,289	(84,765)
Total adjustments	2,217,256	1,503,055	1,726,841
Net cash provided by operating activities	3,852,529	4,817,634	4,475,402
Cash flows from investing activities:
Purchases of short-term investments	(438,901)	0	0
Maturities of short-term investments	69,279	0	0
Additions to property, plant and equipment, net	(730,463)	(1,261,463)	(699,308)
Other	(4,773)	(4,922)	41,940
Net cash used for investing activities	(1,104,858)	(1,266,385)	(657,368)
Cash flows from financing activities:
Proceeds from debt	1,087,856	0	296,130
Early termination of debt	0	(65,688)	(519,116)
Debt repayments	(499,966)	0	0
Payments on revolver	0	0	(400,000)
Proceeds from revolver	0	0	400,000
Proceeds from commercial paper notes	10,184,439	5,287,124	0
Payments of commercial paper notes	(10,183,925)	(4,739,900)	0
Dividend payments to shareholders	(1,795,459)	(1,679,106)	(1,544,552)
Repurchase of common stock	(615,590)	(2,963,955)	(2,577,015)
Proceeds from employee stock plans	121,215	118,608	33,887
Other	(12,960)	(20,843)	19,946
Net cash used for financing activities	(1,714,390)	(4,063,760)	(4,290,720)
Effect of exchange rate changes on cash	0	0	(34,706)
Net increase (decrease) in cash and cash equivalents	1,033,281	(512,511)	(507,392)
Cash and cash equivalents at beginning of year	958,061	1,470,572	1,977,964
Cash and cash equivalents at end of year	$ 1,991,342	$ 958,061	$ 1,470,572

Leases - Textual (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Textual (Details) - USD ($) $ in Millions	Nov. 02, 2024	Oct. 28, 2023
Lessee, Lease, Description [Line Items]
Sublease income	$ 12.8	$ 12.9
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease contract (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease contract (in years)	21 years

Accrued Liabilities (Tables)

12 Months Ended

Nov. 02, 2024

Payables and Accruals [Abstract]

Schedule of accrued liabilities

Accrued liabilities at November 2, 2024 and October 28, 2023 consisted of the following:


	2024		2023
Distributor price adjustments and other revenue reserves	$	508,722	$	525,405
Accrued compensation and benefits	220,091		308,001
Lease liabilities	68,130		64,745
Accrued interest	45,517		40,412
Interest rate swap	36,855		81,602
Accrued withholdings related to ESPP	33,114		32,441
Accrued taxes	23,143		36,649
Accrued special charges	14,572		124,291

Other	155,926		139,062
Total accrued liabilities	$	1,106,070	$	1,352,608

Summary of Significant Accounting Policies

12 Months Ended

Nov. 02, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

a.Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and all of its subsidiaries. Upon consolidation, all intercompany accounts and transactions are eliminated. Certain amounts reported in previous years have been reclassified to conform to the presentation for the fiscal year ended November 2, 2024 (fiscal 2024). Such reclassified amounts are immaterial.

The Company’s fiscal year is the 52-week or 53-week period ending on the Saturday closest to the last day in October. Fiscal 2024 was a 53-week fiscal period, while the fiscal year ended October 28, 2023 (fiscal 2023) and the fiscal year ended October 29, 2022 (fiscal 2022) were 52-week fiscal periods. The additional week in fiscal 2024 is included in the first quarter ended February 3, 2024. Therefore, fiscal 2024 includes an additional week of operations as compared to fiscal 2023 and fiscal 2022.

On August 26, 2021 (Acquisition Date), the Company completed the acquisition of Maxim Integrated Products, Inc. (Maxim), an independent manufacturer of innovative analog and mixed-signal products and technologies. The acquisition of Maxim is referred to as the Acquisition. See Note 6, Acquisitions, of the Notes to Consolidated Financial Statements for additional information.

b.Cash, Cash Equivalents and Short-term Investments

Cash and cash equivalents are highly liquid investments with insignificant interest rate risk and maturities of ninety days or less at the time of acquisition. Short-term investments have original maturities of greater than ninety days at the time of acquisition. Cash, cash equivalents and short-term investments consist primarily of government and institutional money market funds, corporate obligations such as commercial paper and floating rate notes, bonds, demand deposit accounts, money market deposit accounts, and bank time deposits.

The Company classifies its investments in readily marketable debt and equity securities as “held-to-maturity,” “available-for-sale” or “trading” at the time of purchase. The Company’s readily marketable cash equivalents and short-term investments are classified as available-for-sale. Available-for-sale securities are carried at fair value with unrealized gains and losses, net of related tax, reported in accumulated other comprehensive (loss) income (AOCI). Adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease in AOCI, unless the adjustment is considered an other-than-temporary impairment, in which case the adjustment is recorded as a charge in the Consolidated Statements of Income.

The Company reviews available-for-sale securities and evaluates impairment whenever the fair value of the security is less than its amortized cost. If the Company intends to sell the security or if it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the Company will write down the security to its fair value at the reporting date, recognizing the difference as a charge in the Consolidated Statements of Income. If the impairment is partially or wholly due to a credit loss, the Company will recognize the portion of the fair value adjustment due to credit loss in the Consolidated Statements of Income.

Realized gains or losses on investments are determined based on the specific identification basis and are recognized in nonoperating (income) expense. There were no material net realized gains or losses from the sales of available-for-sale investments during any of the fiscal periods presented.

The components of the Company’s cash and cash equivalents and short-term investments as of November 2, 2024 and October 28, 2023 were as follows:


	2024		2023
Cash and Cash Equivalents:
Cash and cash equivalents	$	1,398,782	$	642,081
Available-for-sale securities	592,560		315,980

Total cash and cash equivalents	$	1,991,342	$	958,061
Short-term investments:
Available-for-sale securities	371,822		—

Total short-term investments	$	371,822	$	—

See Note 2j, Fair Value, of the Notes to Consolidated Financial Statements for additional information on the Company’s cash equivalents and short-term investments.

c.Supplemental Cash Flow Statement Information


	2024		2023		2022
Cash paid during the fiscal year for:
Income taxes	$	414,838	$	987,225	$	821,683
Interest	$	268,192	$	206,415	$	172,957

d.Inventories

Inventories are valued at the lower of cost (first-in, first-out method) or net realizable value. The valuation of inventory requires the Company to estimate obsolete or excess inventory as well as inventory that is not of saleable quality. The Company employs a variety of methodologies to determine the net realizable value of its inventory. While a portion of the calculation to record inventory at its net realizable value is based on the age of the inventory and lower of cost or net realizable value calculations, a key factor in estimating obsolete or excess inventory requires the Company to estimate the future demand for its products. If actual demand is less than the Company’s estimates, impairment charges, which are recorded to cost of sales, may need to be recorded in future periods. Inventory in excess of saleable amounts is not valued, and the remaining inventory is valued at the lower of cost or net realizable value.

Inventories at November 2, 2024 and October 28, 2023 were as follows:


	2024		2023
Raw materials	$	93,608	$	128,142
Work in process	1,047,022		1,125,819
Finished goods	307,057		388,253
Total inventories	$	1,447,687	$	1,642,214

e.Property, Plant and Equipment

The following table presents details of the Company’s property, plant and equipment (PP&E), net of accumulated depreciation:


	2024		2023 (1)
Land and buildings	$	2,061,751	$	1,737,842
Machinery and equipment	4,456,926		4,355,651
Office equipment	477,884		373,126
Leasehold improvements	191,427		177,313
	7,187,988		6,643,932
Less accumulated depreciation and amortization	3,772,438		3,424,775
Net property, plant and equipment	$	3,415,550	$	3,219,157

_________________________________

(1) Certain amounts previously reported between land and buildings and machinery and equipment have been reclassified to conform to the current year presentation.

PP&E is recorded at cost, less allowances for depreciation and amortization. The straight-line method of depreciation is used for all classes of assets for financial statement purposes while both straight-line and accelerated methods are used for income tax purposes. Leasehold improvements are depreciated over the lesser of the term of the lease or the useful life of the asset. Repairs and maintenance charges are expensed as incurred. Depreciation is based on the following ranges of estimated useful lives:


Buildings			Up to 30 years
Machinery & equipment			4-10 years
Office equipment			2-10 years
Leasehold improvements			5-20 years

The Company reviews PP&E for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. Recoverability of these assets is determined by comparison of their carrying amount to the future undiscounted cash flows the assets are expected to generate over their remaining economic lives. If such assets are considered to be impaired, the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their fair value determined by either a quoted market price, if any, or a value determined by utilizing a discounted cash flow technique. If such assets are not impaired, but their useful lives have decreased, the remaining net book value is depreciated over the revised useful life.

PP&E is identified as held for sale when it meets the held for sale criteria of Accounting Standards Codification Topic 360, Property, Plant, and Equipment (ASC 360). Depreciation is not recorded for assets that are classified as held for sale. When an asset meets the held for sale criteria, the lower of its carrying value or fair value less costs to sell is reclassified from the relevant PP&E line items and into current assets on the balance sheet, where it remains until it is either sold or it no longer meets the held for sale criteria. If the assets held for sale were carried at fair value, it would be considered a Level 3 fair value measurement, and determined based on the use of appraisals and input from market participants.

The Company determined its campus facility located in Milpitas, California met the held for sale criteria specified in Accounting Standards Codification (ASC) 360. No write-downs to fair value were required upon this determination as the fair value of the asset group, less costs to sell, was greater than the carrying value. As of November 2, 2024, prepaid expenses and other current assets includes the following assets held for sale:



Land and buildings	$	62,106
Less accumulated depreciation and amortization	(20,604)
Net property, plant and equipment reclassified to Prepaid expenses and other current assets	$	41,502

f.Goodwill and Intangible Assets

Goodwill

The Company evaluates goodwill for impairment annually, as well as whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable, utilizing either the qualitative or quantitative method. The Company tests goodwill for impairment at the reporting unit level, which the Company has determined is consistent with its identified operating segments, on an annual basis on the first day of the fourth quarter (on or about August 4th) or more frequently if indicators of impairment exist or the Company reorganizes its operating segments or reporting units.

The Company has the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its net book value. When using the qualitative method, the Company considers several factors, including the following:

–the amount by which the fair values of each reporting unit exceeded their carrying values as of the date of the most recent quantitative impairment analysis, which indicated there would need to be substantial negative developments in the markets in which these reporting units operate in order for there to be potential impairment;

–the carrying values of these reporting units as of the assessment date compared to the previously calculated fair values as of the date of the most recent quantitative impairment analysis;

–the Company’s current forecasts as compared to the forecasts included in the most recent quantitative impairment analysis;

–public information from competitors and other industry information to determine if there were any significant adverse trends in the Company’s competitors’ businesses;

–changes in the value of major U.S. stock indices that could suggest declines in overall market stability that could impact the valuation of the Company’s reporting units;

–changes in the Company’s market capitalization and overall enterprise valuation to determine if there were any significant decreases that could be an indication that the valuation of its reporting units had significantly decreased; and

–whether there had been any significant increases to the weighted-average cost of capital rates for each reporting unit, which could materially lower the Company’s prior valuation conclusions under a discounted cash flow approach.

If the Company elects not to use this option, or it determines that it is more likely than not that the fair value of a reporting unit is less than its net book value, then the Company performs the quantitative goodwill impairment test. The quantitative goodwill impairment test requires an entity to compare the fair value of a reporting unit with its carrying amount. If fair value is determined to be less than carrying value, an impairment loss is recognized for the amount of the carrying value that exceeds the amount of the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to the reporting unit. Additionally, the Company considers income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. Management determines the fair values of the reporting units using a weighting of the income and market approaches. Under the income approach, it uses a discounted cash flow methodology, which requires management to make significant estimates and assumptions related to forecasted revenues, gross profit margins, operating income margins, working capital cash flow, perpetual growth rates and long-term discount rates, among others. For the market approach, it uses the guideline public company method. Under this method management utilizes information from comparable publicly traded companies with similar operating and investment characteristics as the reporting units, to create valuation multiples that are applied to the operating performance of the reporting unit being tested, in order to obtain its respective fair value. In order to assess the reasonableness of the calculated values, the aggregate fair values of the reporting units are reconciled to the Company’s total market capitalization, allowing for a reasonable control premium.

During fiscal 2024 and fiscal 2023, the Company elected to use the qualitative method of assessing goodwill for all of its reporting units. In all periods presented, management concluded the reporting units’ fair values exceeded their carrying amounts as of the assessment dates and no risk of impairment existed.

The Company’s next annual impairment assessment will be performed as of the first day of the fourth quarter of the fiscal year ending November 1, 2025 (fiscal 2025) unless indicators arise that would require the Company to reevaluate at an earlier date.

Intangible Assets

The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable. If required, recoverability of these assets is determined by comparison of their carrying value to the estimated future undiscounted cash flows the assets are expected to generate over their remaining estimated useful lives. If such assets are considered to be impaired, the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their estimated fair value determined by either a quoted market price, if any, or a value determined by utilizing a discounted cash flow technique.

As of November 2, 2024 and October 28, 2023, the Company’s intangible assets consisted of the following:


	November 2, 2024				October 28, 2023
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	10,335,903	$	4,561,856	$	10,335,903	$	3,811,865
Technology-based	7,597,471		3,786,054		7,589,027		2,804,876
Trade-name	72,200		72,200		72,200		68,432
Backlog (1)	—		—		361,200		361,200
Assembled workforce	1,800		1,800		1,800		1,800

Total	$	18,007,374	$	8,421,910	$	18,360,130	$	7,048,173

_________________________________

(1) Backlog-related intangible asset was fully utilized during fiscal 2024.

Amortization expense related to intangible assets was $1.7 billion, $2.0 billion and $2.0 billion in fiscal 2024, 2023 and 2022, respectively, and is recorded in cost of sales and amortization of intangibles on the Consolidated Statements of Income. The remaining amortization expense will be recognized over the remaining weighted average life of approximately 3.7 years.

The Company expects annual amortization expense for intangible assets as follows:


Fiscal Year	Amortization Expense
2025	$	1,584,043
2026	$	1,534,232
2027	$	1,529,740
2028	$	1,463,291
2029	$	1,126,744

g.Grant Accounting

Certain of the Company’s subsidiaries have received grants from governmental agencies. These grants include capital, employment and research and development grants. Capital grants for the acquisition of property, plant and equipment are netted against the related capital expenditures and amortized as a credit to depreciation expense over the estimated useful life of the related asset. Employment grants, which relate to employee hiring and training, and research and development grants are recognized in earnings in the period in which the related expenditures are incurred by the Company.

In August 2022, the U.S. government enacted the CHIPS and Science Act of 2022 (CHIPS Act), which provides funding for manufacturing grants and research investments and establishes a 25% investment tax credit for certain investments in U.S. semiconductor manufacturing. As of November 2, 2024, the Company recorded $106.3 million and $174.5 million as offsets within current income taxes payable and in other assets, respectively, with a corresponding reduction to the carrying amounts of the qualifying manufacturing assets on the Consolidated Balance Sheet. As of October 28, 2023, the Company recognized $174.3 million in other assets with a corresponding reduction to these fixed asset carrying amounts.

h.Translation of Foreign Currencies

Generally, the functional currency of the Company’s foreign operations is the U.S. dollar. In certain entities where that is not the case, gains and losses resulting from translation of the foreign currencies into U.S. dollars are recorded in AOCI. Transaction gains and losses and re-measurement of foreign currency denominated assets and liabilities are included in income currently, including those at the Company’s principal foreign manufacturing operations where the functional currency is the U.S. dollar. Foreign currency transaction gains or losses are included in other, net in the Consolidated Statements of Income.

i.Derivative Instruments and Hedging Agreements

Foreign Exchange Exposure Management — The Company enters into forward foreign currency exchange contracts to offset certain operational and balance sheet exposures from the impact of changes in foreign currency exchange rates. Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen. Derivative instruments are employed to eliminate or minimize certain foreign currency exposures that can be confidently identified and quantified. These foreign currency exchange contracts are entered into to support transactions made in the normal course of business, and accordingly, are not speculative in nature. The contracts are for periods consistent with the terms of the underlying transactions, generally one year or less. Hedges related to anticipated transactions are matched with the underlying exposures at inception and designated and documented as cash flow hedges. They are qualitatively evaluated for effectiveness on a quarterly basis. The gain or loss on the derivatives are reported as a component of AOCI in shareholders’ equity and reclassified into earnings in the same line item on the Consolidated Statements of Income as the impact of the hedged transaction in the same period during which the hedged transaction affects earnings.

The total notional amounts of forward foreign currency derivative instruments designated as hedging instruments of cash flow hedges as of November 2, 2024 and October 28, 2023 was $257.0 million and $322.6 million, respectively. The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s Consolidated Balance Sheets as of November 2, 2024 and October 28, 2023 were as follows:


		Fair Value At
	Balance Sheet Location	November 2, 2024		October 28, 2023
Forward foreign currency exchange contracts	Prepaid expenses and other current assets	$	780	$	471
Forward foreign currency exchange contracts	Accrued liabilities	$	4,235	$	9,897

Additionally, the Company enters into forward foreign currency contracts that economically hedge the gains and losses generated by the re-measurement of certain recorded assets and liabilities in a non-functional currency. Changes in the fair value of these undesignated hedges are recognized in other (income) expense immediately as an offset to the changes in the fair value of the asset or liability being hedged. As of November 2, 2024 and October 28, 2023, the total notional amounts of undesignated hedges related to forward foreign currency exchange contracts were $176.8 million and $334.7 million, respectively.


		Fair Value At
	Balance Sheet Location	November 2, 2024		October 28, 2023
Undesignated hedges related to forward foreign currency exchange contracts	Prepaid expenses and other current assets	$	6,538	$	1,469
Undesignated hedges related to forward foreign currency exchange contracts	Accrued liabilities	$	12,044	$	3,618

All of the Company’s derivative financial instruments are eligible for netting arrangements that allow the Company and its counterparties to net settle amounts owed to each other. As of November 2, 2024 and October 28, 2023, none of the netting arrangements involved collateral.

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 $1.0 billion aggregate principal amount of 2.1% senior unsecured notes (the 2031 Notes) where the Company swapped the notional amount of its $1.0 billion 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:


	November 2, 2024				October 28, 2023
Balance Sheet Location	Loss on Swaps		Gain on Note		Loss on Swaps		Gain on Note
Accrued liabilities	$	36,855	$	—	$	81,602	$	—
Long-term debt	$	—	$	36,855	$	—	$	81,602

The market risk associated with the Company’s derivative instruments results from currency exchange rate or interest rate movements that are expected to offset the market risk of the underlying transactions, assets and liabilities being hedged. The counterparties to the agreements relating to the Company’s derivative instruments consist of a number of major international financial institutions with high credit ratings. Based on the credit ratings of the Company’s counterparties as of November 2, 2024 and October 28, 2023, nonperformance is not perceived to be a material risk. Furthermore, none of the Company’s derivatives are subject to collateral or other security arrangements and none contain provisions that are dependent on the Company’s credit ratings from any credit rating agency. While the contract or notional amounts of derivative financial instruments provide one measure of the volume of these transactions, they do not represent the amount of the Company’s exposure to credit risk. The amounts potentially subject to credit risk (arising from the possible inability of counterparties to meet the terms of their contracts) are generally limited to the amounts, if any, by which the counterparties’ obligations under the contracts exceed the obligations of the Company to the counterparties. As a result of the above considerations, the Company does not consider the risk of counterparty default to be significant.

The Company records the fair value of its derivative financial instruments in its Consolidated Financial Statements in other current assets, other assets, accrued liabilities, other non-current liabilities and long-term debt, depending on their net position, regardless of the purpose or intent for holding the derivative contract. Changes in the fair value of cash flow hedges are recorded in AOCI and reclassified into earnings in the same line item on the Consolidated Statements of Income as the impact of the hedged transaction when the underlying contract matures. Changes in the fair value of designated fair value hedges are recorded on the Consolidated Balance Sheets as a swap asset or an accrued liability with an offsetting increment/decrement to the long-term debt balance, which is the underlying item being hedged. Changes in the fair values of derivatives not qualifying for hedge accounting are reported in earnings as they occur.

For information on the unrealized holding gains (losses) on derivatives included in and reclassified out of AOCI into the Consolidated Statements of Income related to forward foreign currency exchange contracts, see Note 2o, Accumulated Other Comprehensive (Loss) Income, of the Notes to Consolidated Financial Statements.

j.Fair Value

The Company defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company applies the following fair value hierarchy, which prioritizes the inputs 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. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Level 1 — Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 — Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability.

Level 3 — Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date.

The tables below, set forth by level, presents the Company’s financial assets and liabilities, excluding accrued interest components, that were accounted for at fair value on a recurring basis as of November 2, 2024 and October 28, 2023. 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 November 2, 2024 and October 28, 2023, the Company held $1.4 billion and $642.1 million, respectively, of cash that was

excluded from the tables below.


	November 2, 2024
	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	$	592,560	$	—	$	592,560


Short-term investments:
Available-for-sale:
Securities with one year or less to maturity:
Corporate obligations (1)	—		71,246		71,246
Bank obligations (1)	—		300,576		300,576




Other assets:
Forward foreign currency exchange contracts (2)	—		7,318		7,318
Deferred compensation investments	92,698		—		92,698

Total assets measured at fair value	$	685,258	$	379,140	$	1,064,398
Liabilities

Forward foreign currency exchange contracts (2)	$	—	$	16,279	$	16,279
Interest rate derivatives (3)	—		36,855		36,855
Total liabilities measured at fair value	$	—	$	53,134	$	53,134

(1) The amortized cost of the Company’s investments classified as available-for-sale as of November 2, 2024 was $382.9 million.

(2) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements for more information related to the Company’s master netting arrangements.

(3) 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 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements.


	October 28, 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	$	315,980	$	—	$	315,980









Other assets:
Forward foreign currency exchange contracts (1)			1,940		1,940
Deferred compensation investments	78,246		—		78,246

Total assets measured at fair value	$	394,226	$	1,940	$	396,166
Liabilities

Forward foreign currency exchange contracts (1)	$	—	$	13,515	$	13,515
Interest rate derivatives (2)	—		81,602		81,602

Total liabilities measured at fair value	$	—	$	95,117	$	95,117

(1) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements for more information related to the Company’s master netting arrangements.

(2) 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 2i, Derivative Instruments and Hedging Agreements, of the Notes to Consolidated Financial Statements.

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

Cash equivalents and short-term investments — These investments are adjusted to fair value based on quoted market prices or are determined using a yield curve model based on current market rates.

Deferred compensation plan investments — The fair value of these mutual fund, money market fund and equity investments are based on quoted market prices.

Forward foreign currency exchange contracts — The estimated fair value of forward foreign currency exchange contracts, which includes derivatives that are accounted for as cash flow hedges and those that are not designated as cash flow hedges, is based on the estimated amount the Company would receive if it sold these agreements at the reporting date taking into consideration current exchange rates as well as the creditworthiness of the counterparty for assets and the Company’s creditworthiness for liabilities. The fair value of these instruments is based upon valuation models using current market information such as strike price, spot rate, forward points, and maturity date.

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

Santa Clara, California leased property asset group — As a result of a sublease transaction involving a leased property in Santa Clara, California during fiscal 2022, the Company estimated the fair value of the sublease assets using discounted cash flows from the estimated net sublease rental income discounted at a market rate and recorded an impairment charge which represented the excess carrying value of the asset group associated with the Santa Clara, California leased property over its estimated fair value. These assets are considered a Level 2 fair value measurement. See Note 5, Special Charges, Net, of the Notes to Consolidated Financial Statements for additional information.

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.

Debt — The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis. Given the short tenure of the Company’s commercial paper notes, the carrying value of the outstanding commercial paper notes approximates the fair values, and therefore, are excluded from the table below ($547.7 million and $547.2 million as of November 2, 2024 and October 28, 2023, respectively). 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. See Note 14, Debt, of the Notes to Consolidated Financial Statements for further discussion related to outstanding debt.


	November 2, 2024				October 28, 2023
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value





2024 Notes, due October 2024	$	—	$	—	$	500,000	$	499,473
2025 Notes, due April 2025	400,000		397,027		400,000		385,231

2026 Notes, due December 2026	900,000		882,795		900,000		851,023

2027 Notes, due June 2027	440,212		421,077		440,212		408,595
2028 Notes, due October 2028	750,000		673,316		750,000		628,999
2031 Notes, due October 2031	1,000,000		843,766		1,000,000		773,404
2032 Notes, due October 2032	300,000		287,172		300,000		269,828
2034 Notes, due April 2034	550,000		553,375		—		—
2036 Notes, due December 2036	144,278		136,718		144,278		118,554
2041 Notes, due October 2041	750,000		534,435		750,000		479,078
2045 Notes, due December 2045	332,587		322,942		332,587		292,248
2051 Notes, due October 2051	1,000,000		655,668		1,000,000		590,666
2054 Notes, due April 2054	550,000		541,912		—		—
Total Debt	$	7,117,077	$	6,250,203	$	6,517,077	$	5,297,099

k.Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates relate to the useful lives of fixed assets and identified intangible assets; allowances for doubtful accounts and customer returns; the net realizable value of inventory; potential reserves relating to litigation matters; accrued liabilities, including estimates of variable consideration related to distributor sales; accrued taxes; uncertain tax positions; deferred tax valuation allowances; assumptions pertaining to stock-based compensation payments and defined benefit plans; and fair value of acquired assets and liabilities, including inventory, property, plant and equipment, goodwill and acquired intangibles; and other reserves. Actual results could differ from those estimates and such differences may be material to the financial statements.

l.Concentrations of Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of investments and trade accounts receivable.

The Company maintains cash, cash equivalents and short-term investments with high credit quality counterparties, continuously monitors the amount of credit exposure to any one issuer and diversifies its investments in order to minimize its credit risk.

The Company sells its products to distributors and original equipment manufacturers (OEMs) involved in a variety of industries including industrial, communications, automotive and consumer end markets. The Company has adopted credit policies and standards to accommodate growth in these markets. The Company performs continuing credit evaluations of its customers’ financial condition and although the Company generally does not require collateral, the Company may require letters of credit from customers in certain circumstances. The Company provides reserves for estimated amounts of accounts receivable that may not be collected.

Revenue attributable to significant distributors whose revenue as a percentage of total revenue was 10% or greater of total revenue is presented in the following table:


	Year Ended
	November 2, 2024	October 28, 2023	October 29, 2022
Distributor 1	24%	25%	22%
Distributor 2	12%	10%	10%
Distributor 3	12%	*	*

___________________________________________________________

*Revenue for this distributor was not greater than 10% of total revenue for these periods.

No other customer accounted for greater than 10% of total revenue in any period presented.

m.Concentration of Other Risks

The semiconductor industry is characterized by rapid technological change, competitive pricing pressures and cyclical market patterns. The Company’s financial results are affected by a wide variety of factors, including general economic conditions worldwide, economic conditions specific to the semiconductor industry, the timely implementation of new manufacturing technologies, the ability to safeguard patents and intellectual property in a rapidly evolving market and reliance on assembly and test subcontractors, third-party wafer fabricators and independent distributors. In addition, the semiconductor market has historically been cyclical and subject to significant economic downturns at various times. The Company is exposed to the risk of obsolescence of its inventory depending on the mix of future business. Additionally, more than half of the Company’s purchases of external wafer and foundry services are from a limited number of suppliers, such as Taiwan Semiconductor Manufacturing Company (TSMC) and others. If these suppliers or any of the Company’s other key suppliers are unable or unwilling to manufacture and deliver sufficient quantities of components, on the time schedule and of the quality that the Company requires, the Company may be forced to engage additional or replacement suppliers, which could result in significant expenses and disruptions or delays in manufacturing, product development and shipment of product to the Company’s customers.

n.Revenue Recognition

Recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the providing entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company recognizes revenue when all of the following criteria are met: (1) the Company has entered into a binding agreement, (2) the performance obligations have been identified, (3) the transaction price to the customer has been determined, (4) the transaction price has been allocated to the performance obligations in the contract, and (5) the performance obligations have been satisfied. The majority of the Company’s shipping terms permit the Company to recognize revenue at point of shipment or delivery. Certain shipping terms require the goods to be through customs or be received by the customer before title passes. In those instances, the Company defers the revenue recognized until title and control of the promised goods have passed to the customer. Shipping costs are charged to selling, marketing, general and administrative expense as incurred. Sales taxes are excluded from revenue.

Revenue from contracts with the United States government, government prime contractors and certain commercial customers is recorded over time using either units delivered or costs incurred as the measurement basis for progress toward completion. These measures are used to measure results directly and is generally the best measure of progress toward completion in circumstances in which a reliable measure of output can be established. Estimated revenue in excess of amounts billed is reported as unbilled receivables. Contract accounting requires judgment in estimating costs and assumptions related to technical issues and delivery schedule. Contract costs include material, subcontract costs, labor and an allocation of indirect costs. The estimation of costs at completion of a contract is subject to numerous variables involving contract costs and estimates as to the length of time to complete the contract. Changes in contract performance, estimated gross margin, including the impact of final contract settlements, and estimated losses are recognized in the period in which the changes or losses are determined.

Performance Obligations: Substantially all of the Company’s contracts with customers contain a single performance obligation, the sale of mixed-signal integrated circuit products. Such sales represent a single performance obligation because the sale is one type of good or includes multiple goods that are neither capable of being distinct nor separable from the other promises in the contract. This performance obligation is satisfied when control of the product is transferred to the customer, which occurs upon shipment or delivery. Unsatisfied performance obligations primarily represent contracts for products with future delivery dates and with an original expected duration of one year or less. The Company generally offers a twelve-month

warranty for its products. The Company’s warranty policy provides for replacement of defective products. Specific accruals are recorded for known product warranty issues. Product warranty expenses during fiscal 2024, fiscal 2023 and fiscal 2022 were not material.

Transaction Price: The transaction price reflects the Company’s expectations about the consideration it will be entitled to receive from the customer and may include fixed or variable amounts. Fixed consideration primarily includes sales to direct customers and sales to distributors in which both the sale to the distributor and the sale to the end customer occur within the same reporting period. Variable consideration includes sales in which the amount of consideration that the Company will receive is unknown as of the end of a reporting period. The vast majority of such consideration are credits issued to the distributor due to price protection, but also include sales made to distributors under agreements that allow certain rights of return, referred to as stock rotation. Price protection represents price discounts granted to certain distributors to allow the distributor to earn an appropriate margin on sales negotiated with certain customers and in the event of a price decrease subsequent to the date the product was shipped and billed to the distributor. Stock rotation allows distributors limited levels of returns in order to reduce the amounts of slow-moving, discontinued or obsolete product from their inventory. A liability for distributor credits covering variable consideration is made based on the Company’s estimate of historical experience rates as well as considering economic conditions and contractual terms. To date, actual distributor claims activity has been materially consistent with the provisions the Company has made based on its historical estimates. For fiscal 2024 and fiscal 2023, sales to distributors were approximately $5.5 billion and $7.5 billion, respectively, net of variable consideration for which the liability balances as of November 2, 2024 and October 28, 2023 were $508.7 million and $525.4 million, respectively, and were recorded in accrued liabilities on the Consolidated Balance Sheets.

Contract Balances: Accounts receivable represents the Company’s unconditional right to receive consideration from its customers. Payments are typically due within 30 to 45 days of invoicing and do not include a significant financing component. To date, there have been no material credit losses on accounts receivable. There were no material contract assets or contract liabilities recorded on the Consolidated Balance Sheets in any of the periods presented.

o.Accumulated Other Comprehensive (Loss) Income

AOCI includes certain transactions that have generally been reported in the Consolidated Statement of Shareholders’ Equity. The changes in components of AOCI at November 2, 2024 and October 28, 2023 consisted of the following:


	Foreign currency translation adjustment		Unrealized holding gains/losses on derivatives		Pension plans		Total
October 28, 2023	$	(72,544)	$	(102,043)	$	(13,715)	$	(188,302)
Other comprehensive income before reclassifications	1,033		10,481		(14,662)		(3,148)
Amounts reclassified out of other comprehensive loss	—		10,168		1,032		11,200
Tax	—		(3,808)		(1,198)		(5,006)
Other comprehensive income	1,033		16,841		(14,828)		3,046
November 2, 2024	$	(71,511)	$	(85,202)	$	(28,543)	$	(185,256)

The amounts reclassified out of AOCI into the Consolidated Statements of Income, with presentation location during each period were as follows:



Comprehensive Income Component	2024		2023		Location
Changes in unrealized holding gains/losses on derivatives
Currency forwards	$	(775)	$	213	Cost of sales
	(219)		538		Research and development
	(3,762)		(2,738)		Selling, marketing, general and administrative



Interest rate derivatives	14,924		14,920		Interest expense
	10,168		12,933		Total before tax
	(2,140)		(3,311)		Tax

	$	8,028	$	9,622	Net of tax

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







Actuarial losses (1)	$	1,032	$	1,513	Net of tax

Total amounts reclassified out of AOCI, net of tax	$	9,060	$	11,135

_______________________________________

(1)The amortization of pension components is included in the computation of net periodic benefit cost. See Note 11, Retirement Plans, of the Notes to Consolidated Financial Statements for further information.

p.Income Taxes

The Company makes certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of income tax credits, benefits, and deductions, and in the calculation of certain tax assets and liabilities, which arise from differences in the timing of the recognition of certain expenses for tax and financial statement purposes. The likelihood of the realization of deferred tax assets is assessed and a corresponding valuation allowance is recorded as necessary if management determines those deferred tax assets may not be realized due to the uncertainty of the timing and amount to be realized of certain state and international tax credit carryovers. In reaching this conclusion, the Company evaluates certain relevant criteria including the existence of deferred tax liabilities that can be used to realize deferred tax assets, the taxable income in prior carryback years in the impacted state and international jurisdictions that can be used to absorb net operating losses and taxable income in future years. Judgments regarding future profitability may change due to future market conditions, changes in U.S. or international tax laws and other factors. These changes, if any, may require material adjustments to these deferred tax assets, which may result in an increase or decrease to the income tax provision in future periods.

The Company accounts for uncertain tax positions by first determining if it is “more likely than not” that a tax position will be sustained by the appropriate taxing authorities prior to recording any benefit in the Consolidated Financial Statements. An uncertain income tax position is not recognized if it has less than a 50% likelihood of being sustained. For those tax positions where it is more likely than not that a tax position will be sustained, the Company has recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements. Management classifies interest and penalties related to uncertain tax positions within the provision for income taxes line of the Consolidated Statements of Income. Management reevaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, changes in known facts or circumstances, changes in tax law, effectively settled issues under audit, and new guidance on legislative interpretations. A change in these factors could result in the recognition of an increase or decrease to the Company’s income tax provision which could materially impact its consolidated financial position and results of operations.

In the ordinary course of global business, there are many transactions and calculations where the ultimate tax outcome is uncertain. Some of these uncertainties arise as a consequence of cost reimbursement and royalty arrangements among related entities. Although the Company believes its estimates are reasonable, no assurance can be given that the final tax outcome of these matters will not be different than that which is reflected in the historical income tax provisions and income tax liabilities. In the event management’s assumptions are incorrect, the differences could have a material impact on its income tax provision and operating results in the period in which such determination is made. In addition to the factors described above, the current and expected effective tax rate is based on then-current tax law. Significant changes in enacted tax law could affect these

estimates. See Note 12, Income Taxes, of the Notes to Consolidated Financial Statements for further information related to income taxes.

q.Earnings Per Share of Common Stock

Basic earnings per share is computed based only on the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential future issuances of common stock relating to stock option programs and other potentially dilutive securities using the treasury stock method. In calculating diluted earnings per share, the dilutive effect of stock options and restricted stock units is computed using the average market price for the respective period. In addition, the assumed proceeds under the treasury stock method include the average unrecognized compensation expense of stock options that are in-the-money and restricted stock units. This results in the “assumed” buyback of additional shares, thereby reducing the dilutive impact of in-the-money stock options. Potential shares related to certain of the Company’s outstanding stock options and restricted stock units were excluded because they were anti-dilutive. Those potential shares, determined based on the weighted average exercise prices during the respective periods, could be dilutive in the future.

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


	2024		2023		2022
Net income	$	1,635,273	$	3,314,579	$	2,748,561



Basic shares:
Weighted-average shares outstanding	496,166		502,232		519,226
Earnings per common share basic	$	3.30	$	6.60	$	5.29

Diluted shares:
Weighted-average shares outstanding	496,166		502,232		519,226
Assumed exercise of common stock equivalents	2,531		3,727		3,952
Weighted-average common and common equivalent shares	498,697		505,959		523,178
Earnings per common share diluted	$	3.28	$	6.55	$	5.25
Anti-dilutive shares related to:
Outstanding stock options	71		253		608

r.Stock-Based Compensation

Stock-based compensation is measured at the grant date based on the grant-date fair value of the awards ultimately expected to vest and is recognized as an expense on a straight-line basis over the vesting period, which is generally four years for stock options and restricted stock units, or in annual installments of 25% on each of the first, second, third and fourth anniversaries of the date of grant. Restricted stock units with service and performance or market conditions generally vest in one installment on the third anniversary of the date of grant. For grants issued prior to fiscal 2018, the vesting period was generally five years for stock options, or in annual installments of 20% on each of the first, second, third, fourth and fifth anniversaries of the date of grant and in one installment on the third anniversary of the date of grant for restricted stock units/awards. The maximum contractual term of all stock options is ten years.

Determining the amount of stock-based compensation expense to be recorded requires the Company to develop estimates used in calculating the grant-date fair value of awards. These estimates may be based on different valuation models depending upon the type of award and may include assumptions, such as expected volatility, expected term, risk-free interest rate, expected dividend yield, forfeiture rate and others. The Company uses the Black-Scholes valuation model to calculate the grant-date fair value of stock option awards. The grant-date fair value of restricted stock units with a service condition and restricted stock units with both service and performance conditions is calculated using the value of the Company’s common stock on the date of grant, reduced by the present value of dividends expected to be paid on the Company’s common stock prior to vesting. For restricted stock units with both service and performance conditions, this grant-date fair value is also impacted by the number of units that are expected to vest during the performance period and is adjusted through the related stock-based compensation expense at each reporting period based on the probability of achievement of that performance condition. If the Company determines that an award is unlikely to vest, any previously recorded stock-based compensation expense is reversed in the period of that determination. The grant date fair value of restricted stock units and performance-based stock options with both service and market conditions is calculated using the Monte Carlo simulation model to estimate the probability of

satisfying the performance condition stipulated in the award grant, including the possibility that the market condition may not be satisfied.

The fair value of shares issued under the Company’s employee stock purchase plan (ESPP) is computed using the Black-Scholes model at the commencement of an offering period in June and December of each year and the related expense is recorded over the offering period.

See Note 3, Stock-Based Compensation and Shareholders’ Equity, of the Notes to Consolidated Financial Statements for additional information relating to stock-based compensation.

s.New Accounting Pronouncements

Standards Implemented

Acquired Contract Assets and Contract Liabilities

In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities. Under this 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. The Company adopted ASU 2021-08 in the first quarter of fiscal 2024. Upon adoption, ASU 2021-08 did not have a material impact on the Company’s financial position and results of operations.

Standards to Be Implemented

Segment Reporting

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which enhances the disclosure requirements for reportable segments. ASU 2023-07 requires segment disclosure to include significant segment expense categories and amounts, and qualitative detail of other segment items. Disclosure of multiple measures of segment profit and loss may also be reported. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its financial position and results of operations.

Income Taxes

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires the disaggregation of information in existing income tax disclosures related to the effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its financial position and results of operations.

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, requiring public companies to disaggregate key expense categories such as inventory purchases, employee compensation and depreciation in their financial statements. This aims to improve investor insights into company performance. ASU 2024-03 is effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its financial position and results of operations.

Leases (Tables)

12 Months Ended

Nov. 02, 2024

Leases [Abstract]

Schedule of assets and liabilities, lessee

The following table presents supplemental balance sheet information related to the Company’s operating leases:


	November 2, 2024		October 28, 2023
Assets
Operating lease right-of-use assets in Other assets	$	242,548	$	277,220
Liabilities
Operating lease liabilities in Accrued liabilities	$	68,130	$	64,745
Operating lease liabilities in Other non-current liabilities	$	318,570	$	360,460

Schedule of lease, cost

Details of the Company’s operating leases are as follows:


	November 2, 2024		October 28, 2023
Lease expense	$	68,331	$	66,818

Cash paid for amounts included in the measurement of operating lease liabilities
Cash flows from operating leases	$	82,070	$	68,759
Lease assets obtained in exchange for new lease liabilities	$	15,801	$	66,760
Weighted average remaining lease term	6.4 years		7.1 years
Weighted average discount rate	3.8%		3.6%

Schedule of lessee, operating lease, liability, maturity

The following table presents the maturities of the Company’s operating lease liabilities as of November 2, 2024:


Fiscal year
2025	$	83,059
2026	77,444
2027	69,160
2028	55,753
2029	50,990
Thereafter	98,450
Total future minimum operating lease payments	434,856
Less: imputed interest	(48,156)
Present value of operating lease liabilities	$	386,700

Lessor, operating lease, payment to be received, maturity

The following table presents the future minimum cash receipts as a result of subleases as of November 2, 2024:


Fiscal year
2025	$	15,231
2026	15,683
2027	16,153
2028	16,635
2029	16,886
Thereafter	12,480
Total future minimum cash receipts	$	93,068

Summary of Significant Accounting Policies - Fair Value Outstanding Debt (Details) - USD ($)	Nov. 02, 2024	Apr. 03, 2024	Oct. 28, 2023	Oct. 07, 2022	Sep. 15, 2022	Oct. 05, 2021	Apr. 08, 2020	Dec. 05, 2016	Dec. 14, 2015
Debt Instrument [Line Items]
Principal	$ 7,664,815,000		$ 7,064,301,000
Senior Notes
Debt Instrument [Line Items]
Principal	7,117,077,000		6,517,077,000
Fair Value	6,250,203,000		5,297,099,000
Senior Notes \| 2024 Notes, due October 2024
Debt Instrument [Line Items]
Principal	0		500,000,000			$ 500,000,000
Fair Value	0		499,473,000
Senior Notes \| 2025 Notes, due April 2025
Debt Instrument [Line Items]
Principal	400,000,000		400,000,000				$ 400,000,000
Fair Value	397,027,000		385,231,000
Senior Notes \| 2026 Notes, due December 2026
Debt Instrument [Line Items]
Principal	900,000,000		900,000,000					$ 900,000,000
Fair Value	882,795,000		851,023,000
Senior Notes \| 2027 Notes, due June 2027
Debt Instrument [Line Items]
Principal	440,212,000		440,212,000	$ 440,200,000
Fair Value	421,077,000		408,595,000
Senior Notes \| 2028 Notes, due October 2028
Debt Instrument [Line Items]
Principal	750,000,000		750,000,000			750,000,000
Fair Value	673,316,000		628,999,000
Senior Notes \| 2031 Notes, due October 2031
Debt Instrument [Line Items]
Principal	1,000,000,000		1,000,000,000			1,000,000,000
Fair Value	843,766,000		773,404,000
Senior Notes \| 2032 Notes, due October 2032
Debt Instrument [Line Items]
Principal	300,000,000		300,000,000		$ 300,000,000
Fair Value	287,172,000		269,828,000
Senior Notes \| 2034 Notes, due April 2034
Debt Instrument [Line Items]
Principal	550,000,000	$ 550,000,000.0	0
Fair Value	553,375,000		0
Senior Notes \| 2036 Notes, due December 2036
Debt Instrument [Line Items]
Principal	144,278,000		144,278,000					$ 250,000,000
Fair Value	136,718,000		118,554,000
Senior Notes \| 2041 Notes, due October 2041
Debt Instrument [Line Items]
Principal	750,000,000		750,000,000			750,000,000
Fair Value	534,435,000		479,078,000
Senior Notes \| 2045 Notes, due December 2045
Debt Instrument [Line Items]
Principal	332,587,000		332,587,000						$ 400,000,000
Fair Value	322,942,000		292,248,000
Senior Notes \| 2051 Notes, due October 2051
Debt Instrument [Line Items]
Principal	1,000,000,000		1,000,000,000			$ 1,000,000,000
Fair Value	655,668,000		590,666,000
Senior Notes \| 2054 Notes, due April 2054
Debt Instrument [Line Items]
Principal	550,000,000	$ 550,000,000.0	0
Fair Value	$ 541,912,000		$ 0

Income Taxes (Tables)

12 Months Ended

Nov. 02, 2024

Income Tax Disclosure [Abstract]

Schedule of income tax provision reconciliation

The reconciliation of income tax computed at the U.S. federal statutory rates to income tax expense for fiscal 2024, fiscal 2023 and fiscal 2022 is as follows:


	2024			2023			2022
U.S. federal statutory tax rate	21.0		%	21.0		%	21.0		%
Income tax provision reconciliation:
Tax at statutory rate	$	373,241		$	757,681		$	650,737
Net foreign income subject to lower tax rate	(219,294)			(358,944)			(358,725)
State income taxes, net of federal benefit	(10,646)			4,453			(15,615)
Valuation allowance	10,615			(6,641)			29,737
Federal research and development tax credits	(53,420)			(65,391)			(58,625)
Change in uncertain tax positions	(19,514)			17,985			19,394
Amortization of purchased intangibles	114,679			142,358			142,375

Taxes attributable to the Tax Cuts and Jobs Act of 2017	(3,977)			(81,695)			—
U.S. effects of international operations	(6,300)			(98,286)			(47,665)
Windfalls (under ASU 2016-09)	(22,985)			(24,211)			(16,717)


Other, net	(20,332)			6,115			5,292
Total income tax provision	$	142,067		$	293,424		$	350,188

Schedule of income before income tax domestic and foreign

Income before income taxes for fiscal 2024, fiscal 2023 and fiscal 2022 includes the following components:


Income before income taxes (1)	2024		2023		2022

Domestic	$	517,555	$	846,592	$	958,465
Foreign	1,259,785		2,761,411		2,140,284
Income before income taxes	$	1,777,340	$	3,608,003	$	3,098,749

_______________________________________

(1)Income before income taxes reflects deemed intercompany royalties in all periods presented.

Schedule of components of the provision for income taxes

The components of the provision for income taxes for fiscal 2024, fiscal 2023 and fiscal 2022 are as follows:


	2024		2023		2022
Current:
Federal tax	$	348,144	$	303,146	$	304,556
State	14,399		11,772		13,214
Foreign	147,087		431,452		359,173
Total current	$	509,630	$	746,370	$	676,943
Deferred:
Federal	$	(492,578)	$	(508,741)	$	(341,777)
State	3,579		2,063		(612)
Foreign	121,436		53,732		15,634
Total deferred	$	(367,563)	$	(452,946)	$	(326,755)
Provision for income tax	$	142,067	$	293,424	$	350,188

Schedule of deferred tax assets and liabilities

The significant components of the Company’s deferred tax assets and liabilities for fiscal 2024 and fiscal 2023 are as follows:


	2024		2023
Deferred tax assets:
Inventory reserves	$	29,139	$	20,159

Reserves for compensation and benefits	48,801		57,603
Tax credit carryovers	318,469		313,891

Stock-based compensation	22,290		10,734


Net operating losses	41,340		42,825
Intangible assets	1,871,218		1,955,752
Lease liability	74,715		82,305
Capitalization of R&D expenses (1)	624,682		421,485
Other	71,049		88,164
Total gross deferred tax assets	3,101,703		2,992,918
Valuation allowance	(343,079)		(332,464)
Total deferred tax assets	2,758,624		2,660,454
Deferred tax liabilities:

Depreciation	(139,556)		(122,125)
Deferred GILTI tax liabilities	(2,442,068)		(2,654,817)
Right of use asset	(53,303)		(60,343)
Acquisition-related intangibles	(664,337)		(727,749)

Total gross deferred tax liabilities	(3,299,264)		(3,565,034)
Net deferred tax liabilities	$	(540,640)	$	(904,580)

_______________________________________________

(1) The Company included 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.

Schedule of changes unrealized tax benefits

The following table summarizes the changes in the total amounts of unrealized tax benefits for fiscal 2022 through fiscal 2024:


	Unrealized Tax Benefits

























Balance, October 30, 2021	$	132,521
Additions for tax positions related to the Acquisition	15,267

Additions for tax positions related to current year	11,800
Additions for tax positions related to prior years	9,704
Reductions due to lapse of applicable statute of limitations	(3,965)
Balance, October 29, 2022	$	165,327

Additions for tax positions related to current year	5,895
Additions for tax positions related to prior years	17,096
Reductions due to lapse of applicable statute of limitations	(903)
Balance, October 28, 2023	$	187,415


Additions for tax positions related to current year	5,793
Reductions for tax positions related to prior years	(27,499)
Reductions due to lapse of applicable statute of limitations	(3,013)
Balance, November 2, 2024	$	162,696

Retirement Plans - Accumulated and Projected Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation	$ 155,777	$ 169,356
Fair value of plan assets	43,944	87,606
Plans with accumulated benefit obligations in excess of plan assets:
Projected benefit obligation	76,867	112,200
Accumulated benefit obligation	54,675	98,477
Fair value of plan assets	$ 5,777	$ 45,555

Summary of Significant Accounting Policies - Debt Textual (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Accounting Policies [Abstract]
Commercial paper notes	$ 547,738	$ 547,224

Description of Business	12 Months Ended
Description of Business	Nov. 02, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of BusinessAnalog Devices, Inc. (Analog Devices or the Company) is a global semiconductor leader dedicated to solving its customers’ most complex engineering challenges. Since its inception in 1965, the Company has played a critical role at the intersection of the physical and digital worlds by providing the building blocks to sense, measure, interpret, connect and power. The Company designs, manufactures, tests and markets a broad portfolio of solutions, including integrated circuits (ICs), software and subsystems that leverage high-performance analog, mixed-signal and digital signal processing technologies. The Company’s comprehensive product portfolio, deep domain expertise and advanced manufacturing capabilities extend across high-performance precision and high-speed mixed-signal, power management and processing technologies – including data converters, amplifiers, power management, radio frequency ICs, edge processors and other sensors. The Company’s focus is largely on the business-to-business end markets of Industrial, Automotive and Communications and related applications, as well as Consumer applications, with the goal of driving sustainable and profitable growth over the long term.

Revolving Credit Facility	12 Months Ended
Revolving Credit Facility	Nov. 02, 2024
Line of Credit Facility [Abstract]
Revolving Credit Facility	Revolving Credit Facility On June 23, 2021, the Company entered into a Third Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent and the other banks identified therein as lenders, which was subsequently amended on December 20, 2022 and July 24, 2023 (as amended, the Revolving Credit Agreement). 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) 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) from time to time of between 0.690% and 1.175%. As of November 2, 2024, 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. In addition, the Company has agreed to pay a facility fee based on the Company’s Debt Ratings from time to time of between 0.060% and 0.200% multiplied by the actual daily amount of the Commitments (as defined in the Revolving Credit Agreement) in effect. The Revolving Credit Agreement also contains a sustainability-linked pricing component which provides for interest rate and facility fee reductions or increases based on the Company meeting or missing targets related to environmental sustainability, specifically greenhouse gas emissions and renewable energy usage. For calendar year 2023, the Company exceeded the target thresholds for greenhouse gas emission and renewable energy usage, which resulted in immaterial adjustments to administrative and interest fees due under the facility. The Revolving Credit Agreement includes a multicurrency borrowing feature for certain specified foreign currencies. The Company will guarantee the obligations of each subsidiary that is named a Designated Borrower under the Revolving Credit Agreement. The Revolving Credit Agreement contains customary representations and warranties, and affirmative and negative covenants and events of default applicable to the Company and its subsidiaries. As of November 2, 2024, the Company was in compliance with these covenants.

Retirement Plans - Plan Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	$ 98,648	$ 87,606	$ 84,029
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	11,061	17,851
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	87,587	69,755
Unit trust funds
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	7,264	4,803
Unit trust funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	0	0
Unit trust funds \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	7,264	4,803
Equities
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	6,675	16,226
Equities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	6,675	7,851
Equities \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	0	8,375
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	24,013	29,020
Fixed income securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	0	0
Fixed income securities \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	24,013	29,020
Property
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	4,446	4,624
Property \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	0	0
Property \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	4,446	4,624
Investment Funds
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	47,282	22,933
Investment Funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	0	0
Investment Funds \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	47,282	22,933
Pooled Funds
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	4,582	0
Pooled Funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	0	0
Pooled Funds \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	4,582	0
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	4,386	10,000
Cash and cash equivalents \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	4,386	10,000
Cash and cash equivalents \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total assets measured at fair value	$ 0	$ 0

Debt - Textual (Details) - USD ($)	Apr. 03, 2024	Apr. 26, 2023	Apr. 14, 2023	Sep. 15, 2022	Oct. 20, 2021	Oct. 05, 2021	Apr. 08, 2020	Dec. 05, 2016	Dec. 14, 2015	Nov. 02, 2024	Oct. 28, 2023	Oct. 08, 2022	Oct. 07, 2022	Aug. 26, 2021
Debt Instrument [Line Items]
Principal										$ 7,664,815,000	$ 7,064,301,000
Commercial paper notes										547,738,000	547,224,000
Line of Credit \| Commercial Paper
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 2,500,000,000
Debt instrument, term (in years)			397 days
Senior Notes
Debt Instrument [Line Items]
Principal										7,117,077,000	6,517,077,000
the December 2025 Notes and the 2045 Notes \| Senior Notes
Debt Instrument [Line Items]
Net proceeds of notes offering									$ 1,200,000,000
the December 2025 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal									$ 850,000,000
Interest rate									3.90%
the 2045 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal									$ 400,000,000	332,587,000	332,587,000
Interest rate									5.30%
Notes Due December 2021, 2023, 2026 and 2036 \| Senior Notes
Debt Instrument [Line Items]
Net proceeds of notes offering								$ 2,100,000,000
the 2021 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal								$ 400,000,000
Interest rate								2.50%
Redemption amount						$ 71,200,000
Percentage of principal amount redeemed						17.80%
Redemption face amount						$ 400,000,000
Redemption price					100.098%	100.177%
the December 2023 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal								$ 550,000,000
Interest rate								3.125%
Redemption amount						$ 282,700,000
Percentage of principal amount redeemed						51.41%
Redemption face amount						$ 550,000,000
Redemption price					105.017%	105.378%
the 2026 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal								$ 900,000,000		900,000,000	900,000,000
Interest rate								3.50%
the 2036 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal								$ 250,000,000		144,278,000	144,278,000
Interest rate								4.50%
Redemption amount						$ 105,700,000
Percentage of principal amount redeemed						42.29%
Redemption face amount						$ 250,000,000
Redemption price						123.996%
the April 2025 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal							$ 400,000,000			400,000,000	400,000,000
Interest rate							2.95%
Percentage of principal amount redeemed							100.00%
Proceeds from issuance of unsecured debt							$ 395,600,000
the Maxim 2023 Notes \| Senior Notes \| Maxim
Debt Instrument [Line Items]
Principal														$ 500,000,000
Interest rate														3.375%
the Maxim 2027 Notes \| Senior Notes \| Maxim
Debt Instrument [Line Items]
Principal												$ 59,800,000	$ 440,200,000	$ 500,000,000
Interest rate													3.45%	3.45%
Redemption amount		$ 59,800,000
Redemption price		101.255%
the Floating Rate Note, the Sustainability-Linked Senior Notes, the 2031 Notes, the 2041 Notes, the 2051 Notes \| Senior Notes
Debt Instrument [Line Items]
Redemption price						100.00%
the Floating Rate Note \| Senior Notes
Debt Instrument [Line Items]
Principal						$ 500,000,000				0	500,000,000
Debt instrument, basis spread on variable rate						0.25%
Interest rate, increase (decrease) over period						0.30%
the Sustainability-Linked Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Principal						$ 750,000,000				750,000,000	750,000,000
Interest rate						1.70%
the 2031 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal						$ 1,000,000,000				1,000,000,000	1,000,000,000
Interest rate						2.10%
the 2041 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal						$ 750,000,000				750,000,000	750,000,000
Interest rate						2.80%
the 2051 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal						$ 1,000,000,000				1,000,000,000	1,000,000,000
Interest rate						2.95%
the 2032 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal				$ 300,000,000						300,000,000	300,000,000
Interest rate				4.25%
Net proceeds of notes offering				$ 296,100,000
Redemption price				100.00%
Interest rate, increase (decrease) over period				0.20%
the Unregistered 2027 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal										440,212,000	440,212,000		$ 440,200,000
Interest rate													3.45%
Private exchange offer amount													$ 500,000
the 2034 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal	$ 550,000,000.0									550,000,000	0
Interest rate	5.05%
Net proceeds of notes offering	$ 545,500,000
Redemption price	100.00%
Interest rate, increase (decrease) over period	0.15%
the 2054 Notes \| Senior Notes
Debt Instrument [Line Items]
Principal	$ 550,000,000.0									$ 550,000,000	$ 0
Interest rate	5.30%
Net proceeds of notes offering	$ 542,300,000
Redemption price	100.00%
Interest rate, increase (decrease) over period	0.15%

Summary of Significant Accounting Policies - Derivative Instruments Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Forward foreign currency exchange contracts	$ 16,279	$ 13,515
Prepaid expenses and other current assets \| Forward foreign currency exchange contracts \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Forward foreign currency exchange contracts	780	471
Prepaid expenses and other current assets \| Forward foreign currency exchange contracts \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Forward foreign currency exchange contracts	6,538	1,469
Accrued liabilities \| Forward foreign currency exchange contracts \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Forward foreign currency exchange contracts	4,235	9,897
Accrued liabilities \| Forward foreign currency exchange contracts \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Forward foreign currency exchange contracts	$ 12,044	$ 3,618

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,635,273	$ 3,314,579	$ 2,748,561
Foreign currency translation adjustment	1,033	(408)	(46,341)
Change in unrecognized gains/losses on derivative instruments designated as cash flow hedges:
Changes in fair value of derivatives (net of tax of $5,948 in 2024, $486 in 2023 and $2,902 in 2022)	4,533	7,948	(30,331)
Adjustment for realized loss reclassified into earnings (net of tax of $2,140 in 2024, $3,311 in 2023 and $5,054 in 2022)	12,308	9,622	34,472
Total change in derivative instruments designated as cash flow hedges, net of tax	16,841	17,570	4,141
Changes in accumulated other comprehensive loss — pension plans:
Change in actuarial (loss)/gain (net of tax of $1,198 in 2024, $312 in 2023 and $7,756 in 2022)	(14,828)	(7,312)	30,613
Other comprehensive income (loss)	3,046	9,850	(11,587)
Comprehensive income	$ 1,638,319	$ 3,324,429	$ 2,736,974

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 3.62	$ 3.34	$ 2.97
Dividends paid (in dollars per share)	$ 3.62	$ 3.34	$ 2.97

Cover Page - USD ($)
$ in Millions

12 Months Ended

Nov. 02, 2024

May 04, 2024

Cover [Abstract]

Document Type

10-K

Document Annual Report

true

Document Period End Date

Nov. 02, 2024

Current Fiscal Year End Date

--11-02

Document Transition Report

false

Entity File Number

1-7819

Entity Registrant Name

Analog Devices, Inc.

Entity Incorporation, State or Country Code

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

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

Trading Symbol

ADI

Security Exchange Name

NASDAQ

Entity Well-known Seasoned Issuer

Yes

Entity Voluntary Filers

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

$ 76,694

Entity Common Stock, Shares Outstanding

496,296,854

Documents Incorporated by Reference


Document Description						Form 10-K Part
Portions of the Registrant’s Proxy Statement for the Annual Meeting of Shareholders to be held March 12, 2025						III

Entity Central Index Key

0000006281

Amendment Flag

false

Document Fiscal Year Focus

2024

Document Fiscal Period Focus

Special Charges, Net - Textual (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Restructuring Cost and Reserve [Line Items]
Non-cash impairment charge	$ 0	$ 0	$ 91,953
Q4 2023 Plan
Restructuring Cost and Reserve [Line Items]
Special charges, cumulative	155,900
Global Repositioning Actions
Restructuring Cost and Reserve [Line Items]
Special charges, cumulative	$ 527,600
Non-cash impairment charge			91,900
Operating lease, impairment loss			60,600
Global Repositioning Actions \| Leasehold improvements
Restructuring Cost and Reserve [Line Items]
Non-cash impairment charge			28,100
Global Repositioning Actions \| Office equipment
Restructuring Cost and Reserve [Line Items]
Non-cash impairment charge			$ 3,200

- 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 + Details

Other Investments	12 Months Ended
Other Investments	Nov. 02, 2024
Investments, Debt and Equity Securities [Abstract]
Other Investments	Other InvestmentsOther investments consist of interests in venture capital funds and other long-term investments and are recorded in Other assets on the Consolidated Balance Sheets. Investments are accounted for using the equity method of accounting or cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. For equity method investments, realized gains and losses are reflected in other, net based upon the Company’s ownership share of the investee’s financial results.

Special Charges, Net - Balance Sheet Impact (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Restructuring Reserve [Roll Forward]
Accrued liabilities	$ 14,572	$ 124,291
Global Repositioning Actions
Restructuring Reserve [Roll Forward]
Beginning balance	36,981	52,070	$ 21,065
Employee severance and benefit costs	(5,106)	45,064	149,853
Facility closure costs			0
Severance and benefit payments, net	(18,020)	(60,153)	(118,567)
Facility closure cost payments			0
Effect of foreign currency on accrual			(281)
Ending balance	13,855	36,981	52,070
Accrued liabilities		13,800
Other non-current liabilities		23,100
Q4 2023 Plan
Restructuring Reserve [Roll Forward]
Beginning balance	110,446	0	0
Employee severance and benefit costs	41,907	113,995	0
Facility closure costs			0
Severance and benefit payments, net	(151,636)	(3,549)	0
Facility closure cost payments			0
Effect of foreign currency on accrual			0
Ending balance	$ 717	$ 110,446	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Current Assets
Cash and cash equivalents	$ 1,991,342	$ 958,061
Short-term investments	371,822	0
Accounts receivable less allowances of $7,160 ($2,763 in 2023)	1,336,331	1,469,734
Inventories	1,447,687	1,642,214
Prepaid expenses and other current assets	337,472	314,013
Total current assets	5,484,654	4,384,022
Other Assets
Net property, plant and equipment	3,415,550	3,219,157
Goodwill	26,909,775	26,913,134
Intangible assets, net	9,585,464	11,311,957
Deferred tax assets	2,083,752	2,223,272
Other assets	749,082	742,936
Total non-current assets	42,743,623	44,410,456
TOTAL ASSETS	48,228,277	48,794,478
Current Liabilities
Accounts payable	487,457	493,041
Income taxes payable	447,379	309,046
Debt, current	399,636	499,052
Commercial paper notes	547,738	547,224
Accrued liabilities	1,106,070	1,352,608
Total current liabilities	2,988,280	3,200,971
Non-current Liabilities
Long-term debt	6,634,313	5,902,457
Deferred income taxes	2,624,392	3,127,852
Income taxes payable	260,486	417,076
Other non-current liabilities	544,489	581,000
Total non-current liabilities	10,063,680	10,028,385
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, 496,296,854 shares outstanding (496,261,678 on October 28, 2023)	82,718	82,712
Capital in excess of par value	25,082,243	25,313,914
Retained earnings	10,196,612	10,356,798
Accumulated other comprehensive loss	(185,256)	(188,302)
Total shareholders’ equity	35,176,317	35,565,122
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 48,228,277	$ 48,794,478

Accrued Liabilities (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Payables and Accruals [Abstract]
Distributor price adjustments and other revenue reserves	$ 508,722	$ 525,405
Accrued compensation and benefits	220,091	308,001
Lease liabilities	68,130	64,745
Accrued interest	45,517	40,412
Interest rate swap	36,855	81,602
Accrued withholdings related to ESPP	33,114	32,441
Accrued taxes	23,143	36,649
Accrued special charges	14,572	124,291
Other	155,926	139,062
Total accrued liabilities	$ 1,106,070	$ 1,352,608

Industry, Segment and Geographic Information - Revenue by Sales Channel (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 9,427,157	$ 12,305,539	$ 12,013,953
% of Total Revenue	100.00%	100.00%	100.00%
Distributors
Disaggregation of Revenue [Line Items]
Revenue	$ 5,505,779	$ 7,534,894	$ 7,458,478
% of Total Revenue	58.00%	61.00%	62.00%
Direct customers
Disaggregation of Revenue [Line Items]
Revenue	$ 3,772,945	$ 4,603,166	$ 4,423,883
% of Total Revenue	40.00%	37.00%	37.00%
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 148,433	$ 167,479	$ 131,592
% of Total Revenue	2.00%	1.00%	1.00%

- 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 + Details

- Definition

+ References

+ Details

Income Taxes

12 Months Ended

Nov. 02, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s effective tax rate reflects the applicable tax rate in effect in the various tax jurisdictions around the world where the Company’s income is earned. The reconciliation of income tax computed at the U.S. federal statutory rates to income tax expense for fiscal 2024, fiscal 2023 and fiscal 2022 is as follows:


	2024			2023			2022
U.S. federal statutory tax rate	21.0		%	21.0		%	21.0		%
Income tax provision reconciliation:
Tax at statutory rate	$	373,241		$	757,681		$	650,737
Net foreign income subject to lower tax rate	(219,294)			(358,944)			(358,725)
State income taxes, net of federal benefit	(10,646)			4,453			(15,615)
Valuation allowance	10,615			(6,641)			29,737
Federal research and development tax credits	(53,420)			(65,391)			(58,625)
Change in uncertain tax positions	(19,514)			17,985			19,394
Amortization of purchased intangibles	114,679			142,358			142,375

Taxes attributable to the Tax Cuts and Jobs Act of 2017	(3,977)			(81,695)			—
U.S. effects of international operations	(6,300)			(98,286)			(47,665)
Windfalls (under ASU 2016-09)	(22,985)			(24,211)			(16,717)


Other, net	(20,332)			6,115			5,292
Total income tax provision	$	142,067		$	293,424		$	350,188

Income before income taxes for fiscal 2024, fiscal 2023 and fiscal 2022 includes the following components:


Income before income taxes (1)	2024		2023		2022

Domestic	$	517,555	$	846,592	$	958,465
Foreign	1,259,785		2,761,411		2,140,284
Income before income taxes	$	1,777,340	$	3,608,003	$	3,098,749

_______________________________________

(1)Income before income taxes reflects deemed intercompany royalties in all periods presented.

The components of the provision for income taxes for fiscal 2024, fiscal 2023 and fiscal 2022 are as follows:


	2024		2023		2022
Current:
Federal tax	$	348,144	$	303,146	$	304,556
State	14,399		11,772		13,214
Foreign	147,087		431,452		359,173
Total current	$	509,630	$	746,370	$	676,943
Deferred:
Federal	$	(492,578)	$	(508,741)	$	(341,777)
State	3,579		2,063		(612)
Foreign	121,436		53,732		15,634
Total deferred	$	(367,563)	$	(452,946)	$	(326,755)
Provision for income tax	$	142,067	$	293,424	$	350,188

The Company’s effective tax rate for fiscal 2023 was impacted by a discrete income tax benefit recorded of $81.7 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.

U.S. tax legislation subjects a U.S. shareholder to tax on global intangible low-taxed income (GILTI). Under U.S. GAAP, an accounting policy election can be made to either treat taxes due on the GILTI inclusion as a current period expense or to recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years. The Company elected the deferral method and recorded the corresponding GILTI deferred tax assets and liabilities on its Consolidated Balance Sheets.

The Company carries other outside basis differences in its subsidiaries, primarily arising from acquisition accounting adjustments and certain undistributed earnings that are considered indefinitely reinvested. As of November 2, 2024, the Company has not recognized deferred income tax on $33.6 billion of outside basis differences because of its intent and ability to indefinitely reinvest these basis differences. These basis differences could be reversed through a sale of the subsidiaries or the receipt of dividends from the subsidiaries, as well as various other events, none of which are considered probable at this time. Determination of the amount of unrecognized deferred income tax liability related to these outside basis differences is not practicable.

The significant components of the Company’s deferred tax assets and liabilities for fiscal 2024 and fiscal 2023 are as follows:


	2024		2023
Deferred tax assets:
Inventory reserves	$	29,139	$	20,159

Reserves for compensation and benefits	48,801		57,603
Tax credit carryovers	318,469		313,891

Stock-based compensation	22,290		10,734


Net operating losses	41,340		42,825
Intangible assets	1,871,218		1,955,752
Lease liability	74,715		82,305
Capitalization of R&D expenses (1)	624,682		421,485
Other	71,049		88,164
Total gross deferred tax assets	3,101,703		2,992,918
Valuation allowance	(343,079)		(332,464)
Total deferred tax assets	2,758,624		2,660,454
Deferred tax liabilities:

Depreciation	(139,556)		(122,125)
Deferred GILTI tax liabilities	(2,442,068)		(2,654,817)
Right of use asset	(53,303)		(60,343)
Acquisition-related intangibles	(664,337)		(727,749)

Total gross deferred tax liabilities	(3,299,264)		(3,565,034)
Net deferred tax liabilities	$	(540,640)	$	(904,580)

_______________________________________________

(1) The Company included 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.

The valuation allowances of $343.1 million and $332.5 million as of November 2, 2024 and October 28, 2023, respectively, are primarily for the Company’s state R&D credit carryforwards, foreign net operating losses and international credit carryforwards. The Company believes that it is more-likely-than-not that these credit carryovers will not be realized and as a result has recorded a partial valuation allowance.

The federal and state net operating losses of $89.1 million will begin to expire in fiscal 2035 while foreign net operating loss carryovers of $145.5 million have no expiration date. There are also $304.8 million of federal and state credit carryovers and $13.7 million of foreign investment tax credit carryovers that begin to expire in the fiscal year ending October 31, 2026.

As of November 2, 2024 and October 28, 2023, the Company had unrealized tax benefits, net of indirect tax benefits, of $162.7 million and $187.4 million, respectively, which if settled in the Company’s favor, would lower the Company’s effective tax rate in the period recorded. Liabilities for unrealized tax benefits are primarily classified as non-current because the Company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months. As of November 2, 2024 and October 28, 2023, the Company had liabilities of approximately $73.7 million and $70.7 million, respectively, for interest and penalties, which is included within the provision for income taxes in the Consolidated Statements of Income.

The following table summarizes the changes in the total amounts of unrealized tax benefits for fiscal 2022 through fiscal 2024:


	Unrealized Tax Benefits

























Balance, October 30, 2021	$	132,521
Additions for tax positions related to the Acquisition	15,267

Additions for tax positions related to current year	11,800
Additions for tax positions related to prior years	9,704
Reductions due to lapse of applicable statute of limitations	(3,965)
Balance, October 29, 2022	$	165,327

Additions for tax positions related to current year	5,895
Additions for tax positions related to prior years	17,096
Reductions due to lapse of applicable statute of limitations	(903)
Balance, October 28, 2023	$	187,415


Additions for tax positions related to current year	5,793
Reductions for tax positions related to prior years	(27,499)
Reductions due to lapse of applicable statute of limitations	(3,013)
Balance, November 2, 2024	$	162,696

In fiscal 2024, the Company continued to engage in discussions with tax authorities regarding tax matters in various jurisdictions. It is reasonably possible that the balance of unrealized tax benefits, including accrued interest and penalties, could decrease by up to $140.0 million within the next twelve months due to the completion of federal tax audits, including any administrative appeals. The $140.0 million primarily relates to matters involving federal taxation of international income and cross-border transactions.

The Company has numerous audits ongoing at any time throughout the world including: an IRS income tax audit for the fiscal years ended October 30, 2021 (fiscal 2021), November 2, 2019 (fiscal 2019) and November 3, 2018 (fiscal 2018); a pre-Acquisition IRS income tax audit for Maxim’s fiscal years ended June 27, 2015 through August 26, 2021; and various U.S. state and local tax audits and international audits, including an Irish corporate tax audit for fiscal 2019. The Company’s U.S. federal tax returns prior to fiscal 2018 are no longer subject to examination, except for the applicable Maxim pre-Acquisition fiscal years noted above.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/740/tableOfContent

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Nov. 02, 2024

Accounting Policies [Abstract]

Principles of Consolidation

Cash, Cash Equivalents and Short-term Investments

See Note 2j, Fair Value, of the Notes to Consolidated Financial Statements for additional information on the Company’s cash equivalents and short-term investments.

Inventories

Property, Plant and Equipment


Buildings			Up to 30 years
Machinery & equipment			4-10 years
Office equipment			2-10 years
Leasehold improvements			5-20 years

Goodwill

–the carrying values of these reporting units as of the assessment date compared to the previously calculated fair values as of the date of the most recent quantitative impairment analysis;

–the Company’s current forecasts as compared to the forecasts included in the most recent quantitative impairment analysis;

–public information from competitors and other industry information to determine if there were any significant adverse trends in the Company’s competitors’ businesses;

–changes in the value of major U.S. stock indices that could suggest declines in overall market stability that could impact the valuation of the Company’s reporting units;

Intangible Assets

Grant Accounting

Translation of Foreign Currencies

Foreign Exchange Exposure Management

The Company enters into forward foreign currency exchange contracts to offset certain operational and balance sheet exposures from the impact of changes in foreign currency exchange rates. Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen. Derivative instruments are employed to eliminate or minimize certain foreign currency exposures that can be confidently identified and quantified. These foreign currency exchange contracts are entered into to support transactions made in the normal course of business, and accordingly, are not speculative in nature. The contracts are for periods consistent with the terms of the underlying transactions, generally one year or less. Hedges related to anticipated transactions are matched with the underlying exposures at inception and designated and documented as cash flow hedges. They are qualitatively evaluated for effectiveness on a quarterly basis. The gain or loss on the derivatives are reported as a component of AOCI in shareholders’ equity and reclassified into earnings in the same line item on the Consolidated Statements of Income as the impact of the hedged transaction in the same period during which the hedged transaction affects earnings.

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 $1.0 billion aggregate principal amount of 2.1% senior unsecured notes (the 2031 Notes) where the Company swapped the notional amount of its $1.0 billion 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.

Market Risk

Fair Value

Level 1 — Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 3 — Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date.

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

Cash equivalents and short-term investments — These investments are adjusted to fair value based on quoted market prices or are determined using a yield curve model based on current market rates.

Deferred compensation plan investments — The fair value of these mutual fund, money market fund and equity investments are based on quoted market prices.

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

Use of Estimates

Concentrations of Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of investments and trade accounts receivable.

Concentration of Other Risks

Revenue Recognition

Income Taxes

estimates. See Note 12, Income Taxes, of the Notes to Consolidated Financial Statements for further information related to income taxes.

Earnings Per Share of Common Stock

Stock-Based Compensation

satisfying the performance condition stipulated in the award grant, including the possibility that the market condition may not be satisfied.

See Note 3, Stock-Based Compensation and Shareholders’ Equity, of the Notes to Consolidated Financial Statements for additional information relating to stock-based compensation.

New Accounting Pronouncements

Standards Implemented

Acquired Contract Assets and Contract Liabilities

Standards to Be Implemented

Segment Reporting

Income Taxes

Disaggregation of Income Statement Expenses

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Nov. 25, 2024	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Subsequent Event [Line Items]
Common stock cash dividends per share, declared (in dollars per share)		$ 3.62	$ 3.34	$ 2.97
Subsequent Event
Subsequent Event [Line Items]
Common stock cash dividends per share, declared (in dollars per share)	$ 0.92
Common stock cash dividends per share, payable (in dollars per share)	$ 0.92
Dividends	$ 456.6

Income Taxes - Textual (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit), discrete		$ 81,700
Unrecognized income tax, other outside basis differences	$ 33,600,000
Valuation allowance	343,079	332,464
Federal and state net operating losses, subject to expiration	89,100
Foreign operating loss carryforwards, not subject to expiration	145,500
State credit carryover, subject to expiration	304,800
Foreign investment tax credit carryover, subject to expiration	13,700
Liability for unrealized tax benefits	162,700	187,400
Liability for interest and penalties	73,700	$ 70,700
Settlement with Taxing Authority
Operating Loss Carryforwards [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 140,000

Income Taxes - Income Tax Provision Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%	21.00%
Income tax provision reconciliation:
Tax at statutory rate	$ 373,241	$ 757,681	$ 650,737
Net foreign income subject to lower tax rate	(219,294)	(358,944)	(358,725)
State income taxes, net of federal benefit	(10,646)	4,453	(15,615)
Valuation allowance	10,615	(6,641)	29,737
Federal research and development tax credits	(53,420)	(65,391)	(58,625)
Change in uncertain tax positions	(19,514)	17,985	19,394
Amortization of purchased intangibles	114,679	142,358	142,375
Taxes attributable to the Tax Cuts and Jobs Act of 2017	(3,977)	(81,695)	0
U.S. effects of international operations	(6,300)	(98,286)	(47,665)
Windfalls (under ASU 2016-09)	(22,985)	(24,211)	(16,717)
Other, net	(20,332)	6,115	5,292
Total income tax provision	$ 142,067	$ 293,424	$ 350,188

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 7,160	$ 2,763
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)	496,296,854	496,261,678

Retirement Plans - Weighted Average Assumptions (Details)	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Projected benefit obligation
Discount rate	5.20%	5.73%
Rate of increase in compensation levels	5.23%	4.34%
Net annual periodic pension cost was determined using the following weighted average assumptions
Discount rate	5.73%	5.44%
Expected long-term return on plan assets	5.69%	5.84%
Rate of increase in compensation levels	4.34%	4.08%

Retirement Plans

12 Months Ended

Nov. 02, 2024

Retirement Benefits [Abstract]

Retirement Plans

The Company and its subsidiaries have various savings and retirement plans covering substantially all employees.

Defined Contribution Plans

The Company maintains a defined contribution plan for the benefit of its eligible U.S. employees. This plan provides for Company contributions of up to 5% of each participant’s total eligible compensation. In addition, the Company contributes an amount equal to each participant’s pre-tax contribution, if any, up to a maximum of 3% of each participant’s total eligible compensation. The total expense related to the defined contribution plans for all eligible U.S. employees was $74.3 million in fiscal 2024, $76.0 million in fiscal 2023 and $65.2 million in fiscal 2022.

Non-Qualified Deferred Compensation Plan

The Deferred Compensation Plan (DCP) allows certain members of management and other highly-compensated employees and non-employee directors to defer receipt of all or any portion of their compensation. The DCP was established to provide participants with the opportunity to defer receiving all or a portion of their compensation, which includes salary, bonus, commissions and director fees. Under the DCP, the Company provides all participants (other than non-employee directors) with Company contributions equal to 8% of eligible deferred contributions. The DCP is a non-qualified plan that is maintained in a rabbi trust. The fair value of the investments held in the rabbi trust are included within other investments, with the current portion of the investment included in prepaid expenses and other current assets in the Consolidated Balance Sheets. See Note 2j, Fair Value, of the Notes to Consolidated Financial Statements for further information on these investments. The deferred compensation obligation represents DCP participant accumulated deferrals and earnings thereon since the inception of the DCP net of withdrawals. The deferred compensation obligation is included within other non-current liabilities, with the current portion of the obligation in accrued liabilities in the Consolidated Balance Sheets. The Company’s liability under the DCP is an unsecured general obligation of the Company.

Defined Benefit Pension and Post Retirement Benefit Plans

The Company also has various defined benefit pension and other retirement plans for certain non-U.S. employees that are consistent with local statutory requirements and practices. The total expense related to these plans was $56.9 million in fiscal 2024, $55.3 million in fiscal 2023 and $51.4 million in fiscal 2022.

The Company’s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country. The plans’ assets consist primarily of U.S. and non-U.S. equity securities, bonds, property and cash. The Company has elected to measure defined benefit plan assets and obligations as of October 31, which is the month-end that is closest to its fiscal year-ends, which were November 2, 2024 for fiscal 2024 and October 28, 2023 for fiscal 2023.

As a result of the Acquisition, the Company acquired a postretirement plan that provides postretirement medical expenses to certain former employees of a Maxim acquired company and certain former Maxim executives in the U.S.

Components of Net Periodic Benefit Cost

Net annual periodic benefit cost of the Company’s pension and postretirement benefit plans for fiscal 2024, fiscal 2023 and fiscal 2022 is presented in the following table:


	2024		2023		2022
Service cost	$	8,643	$	7,728	$	10,914
Interest cost	9,564		8,773		6,148
Expected return on plan assets	(5,061)		(5,236)		(4,540)


Recognized actuarial loss	1,345		1,168		2,299
Subtotal	$	14,491	$	12,433	$	14,821

Settlement impact	820		173		(35)

Net periodic benefit cost	$	15,311	$	12,606	$	14,786

The service cost component of net periodic benefit cost above is recorded in Cost of sales, Research and development, Selling, marketing, general and administrative expenses within the Consolidated Statements of Income, while the remaining components are recorded to Other, net.

Benefit Obligations and Plan Assets

Obligation and asset data of the Company’s pension and postretirement benefit plans at November 2, 2024 and October 28, 2023 is presented in the following table:


	2024		2023
Change in Benefit Obligation
Benefit obligation at beginning of year	$	167,868	$	157,730
Service cost	8,643		7,728
Interest cost	9,564		8,773

Plan combinations	23,349		(3,880)


Settlement	(13,240)		(1,887)


Actuarial gain	5,438		574
Benefits paid	(3,152)		(6,352)
Exchange rate adjustment	4,309		5,182
Benefit obligation at end of year	$	202,779	$	167,868
Change in Plan Assets
Fair value of plan assets at beginning of year	$	87,606	$	84,029
Actual return on plan assets	9,479		(2,831)
Employer contributions	10,273		10,811
Plan combinations	4,602		—

Settlements	(13,240)		(1,887)

Benefits paid	(3,152)		(6,352)

Exchange rate adjustment	3,080		3,836
Fair value of plan assets at end of year	$	98,648	$	87,606
Reconciliation of Funded Status
Funded status	$	(104,131)	$	(80,262)
Amounts Recognized in the Balance Sheet
Non-current assets	$	6,111	$	—

Current liabilities	(3,254)		(4,222)
Non-current liabilities	(106,988)		(76,040)
Net amount recognized	$	(104,131)	$	(80,262)


	2024		2023
Reconciliation of Amounts Recognized in the Statement of Financial Position


Net loss	(25,961)		(12,331)
Accumulated other comprehensive loss	(25,961)		(12,331)
Accumulated contributions less than net periodic benefit cost	(78,170)		(67,931)
Net amount recognized	$	(104,131)	$	(80,262)
Changes Recognized in Other Comprehensive Income (Loss)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss)

Net gain/loss arising during the year	$	1,019	$	8,876
Plan combinations	13,413		—
Effect of exchange rates on amounts included in AOCI	1,363		(536)
Amounts recognized as a component of net periodic benefit cost


Amortization or settlement recognition of net loss	(2,165)		(1,340)
Total recognized in other comprehensive gain/loss	$	13,630	$	7,000
Total recognized in net periodic cost and other comprehensive loss	$	28,941	$	19,606
Estimated amounts that will be amortized from AOCI over the next fiscal year



Net loss	$	(2,148)	$	(1,281)

The accumulated benefit obligation for the Company’s pension and postretirement benefit plans was $132.7 million and $120.1 million at November 2, 2024 and October 28, 2023, respectively.

Information relating to the Company’s pension and postretirement benefit plans with projected benefit obligations in excess of plan assets and accumulated benefit obligations in excess of plan assets at November 2, 2024 and October 28, 2023 is presented in the following table:


	2024		2023
Plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation	$	155,777	$	169,356
Fair value of plan assets	$	43,944	$	87,606
Plans with accumulated benefit obligations in excess of plan assets:
Projected benefit obligation	$	76,867	$	112,200
Accumulated benefit obligation	$	54,675	$	98,477
Fair value of plan assets	$	5,777	$	45,555

Assumptions

The range of assumptions used for the Company’s pension and postretirement benefit plans reflects the different economic environments within the various countries as well as the differences in the attributes of the participants.

The projected benefit obligation was determined using the following weighted-average assumptions:


	2024		2023
Discount rate	5.20	%	5.73	%
Rate of increase in compensation levels	5.23	%	4.34	%

Net annual periodic benefit cost was determined using the following weighted average assumptions:


	2024		2023
Discount rate	5.73	%	5.44	%
Expected long-term return on plan assets	5.69	%	5.84	%
Rate of increase in compensation levels	4.34	%	4.08	%

The expected long-term rate of return on assets is a weighted-average of the long-term rates of return selected for the various countries where the Company has funded pension plans. The expected long-term rate of return on assets assumption is selected based on the facts and circumstances that exist as of the measurement date and the specific portfolio mix of plan assets. Management, in conjunction with its actuaries, reviewed anticipated future long-term performance of individual asset categories and considered the asset allocation strategy adopted by the Company and/or the trustees of the plans. While the review considered recent fund performance and historical returns, the assumption is primarily a long-term prospective rate.

The Company’s investment strategy is based on an expectation that equity securities will outperform debt securities over the long term. Investments within each asset class are diversified to reduce the impact of losses in single investments. The use of derivative instruments is permitted where appropriate and necessary to achieve overall investment policy objectives and asset class targets. The Company establishes strategic asset allocation percentage targets and appropriate benchmarks for each significant asset class to obtain a prudent balance between return and risk. The interaction between plan assets and benefit obligations is periodically studied by the Company and its actuaries to assist in the establishment of strategic asset allocation targets.

Fair value of plan assets

The following table presents plan assets measured at fair value on a recurring basis by investment categories as of November 2, 2024 and October 28, 2023 using the same three-level hierarchy described in Note 2j, Fair Value, of the Notes to Consolidated Financial Statements:


	November 2, 2024				October 28, 2023
	Fair Value Measurement at Reporting Date Using:				Fair Value Measurement at Reporting Date Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Unit trust funds(1)	$	—	$	7,264		$	7,264	$	—	$	4,803	$	4,803
Equities(1)	6,675		—			6,675		7,851		8,375		16,226
Fixed income securities(2)	—		24,013			24,013		—		29,020		29,020
Property (3)	—		4,446			4,446		—		4,624		4,624
Investment Funds (4)	—		47,282			47,282		—		22,933		22,933
Pooled Funds (5)	—		4,582			4,582		—		—		—
Cash and cash equivalents	4,386		—			4,386		10,000		—		10,000
Total assets measured at fair value	$	11,061	$	87,587		$	98,648	$	17,851	$	69,755	$	87,606

_______________________________________

(1)The majority of the assets in these categories are invested in a mix of equities, including those from North America, Europe and Asia. The funds are valued using the net asset value method in which an average of the market prices for underlying investments is used to value the fund. Due to the nature of the underlying assets of these funds, changes in market conditions and the economic environment may significantly impact the net asset value of these investments and, consequently, the fair value of the investments. These investments are redeemable at net asset value to the extent provided in the documentation governing the investments. However, these redemption rights may be restricted in accordance with governing documents. Publicly traded securities are valued at the last trade or closing price reported in the active market in which the individual securities are traded.

(2)Consists of funds primarily concentrated in non-U.S. debt instruments. The funds are valued using the net asset value method in which an average of the market prices for underlying investments is used to value the fund.

(3)Consists of funds that primarily invest in global real estate and infrastructure funds. The funds are valued using the net asset value method in which an average of the market prices for underlying investments is used to value the fund.

(4)Consists of liability driven investment funds that may hold a range of low-risk hedging instruments including but not limited to government bonds, interest rate and inflation swaps, physical inflation-linked and nominal gilts, synthetic gilts, cash and money market instruments. The investment funds are valued at the closing price reported if traded on an active market or at yields currently available on comparable securities of issuers with similar credit ratings.

(5)Consists of a fund-based variable insurance policy that declares a fixed return on a quarterly or annual basis. The fair value is the estimated surrender value of the policy.

Estimated future cash flows

Expected fiscal 2025 Company contributions and estimated future benefit payments are as follows:


Expected Company Contributions
2025	$	10,773
Expected Benefit Payments

2025	$	6,793
2026	$	5,632
2027	$	6,853
2028	$	8,029
2029	$	9,017
2030 through 2034	$	64,282

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Special Charges, Net

12 Months Ended

Nov. 02, 2024

Restructuring and Related Activities [Abstract]

Special Charges, Net

The Company monitors global macroeconomic conditions on an ongoing basis and continues to assess opportunities for improved operational effectiveness and efficiency, as well as a better alignment of expenses with revenues. As a result of these assessments, the Company has undertaken various actions resulting in special charges over the past several years.

Liabilities related to special charges, net are presented in accrued liabilities and other non-current liabilities on the Consolidated Balance Sheets. The activity is detailed below:


Accrued Special Charges	Global Repositioning Actions			Q4 2023 Plan




























Balance at October 30, 2021	$	21,065		$	—
Employee severance and benefit costs	149,853			—
Facility closure costs	—			—
Severance and benefit payments, net	(118,567)			—
Facility closure cost payments	—			—


Effect of foreign currency on accrual	(281)			—
Balance at October 29, 2022	$	52,070		$	—
Employee severance and benefit costs	45,064			113,995

Severance and benefit payments, net	(60,153)			(3,549)




Balance at October 28, 2023	$	36,981	(1)	$	110,446
Employee severance and benefit costs	(5,106)			41,907

Severance and benefit payments, net	(18,020)			(151,636)


Balance at November 2, 2024	$	13,855		$	717

_________________________________________________________

(1) As of October 28, 2023, this balance was comprised of $13.8 million and $23.1 million recorded in Accrued liabilities and Other non-current liabilities, respectively, on the Consolidated Balance Sheet.

Q4 2023 Plan

The Company recorded net special charges of $155.9 million on a cumulative basis through November 2, 2024 related to the Q4 2023 Plan. In fiscal 2023, the Company committed to a plan to reorganize its business (the Q4 2023 Plan). The Q4 2023 Plan, consisting of voluntary and involuntary reductions-in-force and other cost-savings initiatives, was commenced to adjust the Company’s cost structure and business activities to better align with weaker market demand and continued economic uncertainty in its end markets, as well as to make certain strategic shifts in its workforce necessary to achieve its long-term vision. The reductions-in-force impacted positions in manufacturing, engineering and selling, marketing, general and administrative functions.

Global Repositioning Actions

The Company recorded net special charges of $527.6 million on a cumulative basis through November 2, 2024, as part of the integration of the Acquisition and continued organizational initiatives to consolidate its global footprint related to certain manufacturing, engineering, sales, marketing and administrative offices and to better align its global workforce with the Company’s long-term strategic plan. The special charges include severance and fringe benefit costs, in accordance with the Company’s ongoing benefit plan or statutory requirements at foreign locations, and the write-off of acquired intellectual property due to the Company’s decision to discontinue certain product development strategies.

In connection with the Company’s decision during fiscal 2022 to transition its engineering, sales, marketing and administrative activities from its leased property in Santa Clara, California to its owned property in San Jose, California, the Company entered into a sublease agreement for a portion of the leased property and intends to sublease the remainder of this property. As a result of the sublease transaction, the Company recorded an impairment charge of $91.9 million in net special charges which represented the excess carrying value of the associated asset group over its estimated fair value. The Company estimated fair value using cash flows from the estimated net sublease rental income discounted at a market rate. The Company allocated $60.6 million, $28.1 million and $3.2 million of the impairment charge to right of use assets, leasehold improvements and office equipment, respectively.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Nov. 02, 2024

Accounting Policies [Abstract]

Schedule of cash and cash equivalents and short term investments

The components of the Company’s cash and cash equivalents and short-term investments as of November 2, 2024 and October 28, 2023 were as follows:


	2024		2023
Cash and Cash Equivalents:
Cash and cash equivalents	$	1,398,782	$	642,081
Available-for-sale securities	592,560		315,980

Total cash and cash equivalents	$	1,991,342	$	958,061
Short-term investments:
Available-for-sale securities	371,822		—

Total short-term investments	$	371,822	$	—

Schedule of supplemental cash flow statement information


	2024		2023		2022
Cash paid during the fiscal year for:
Income taxes	$	414,838	$	987,225	$	821,683
Interest	$	268,192	$	206,415	$	172,957

Schedule of inventories

Inventories at November 2, 2024 and October 28, 2023 were as follows:


	2024		2023
Raw materials	$	93,608	$	128,142
Work in process	1,047,022		1,125,819
Finished goods	307,057		388,253
Total inventories	$	1,447,687	$	1,642,214

Schedule of property, plant and equipment

The following table presents details of the Company’s property, plant and equipment (PP&E), net of accumulated depreciation:


	2024		2023 (1)
Land and buildings	$	2,061,751	$	1,737,842
Machinery and equipment	4,456,926		4,355,651
Office equipment	477,884		373,126
Leasehold improvements	191,427		177,313
	7,187,988		6,643,932
Less accumulated depreciation and amortization	3,772,438		3,424,775
Net property, plant and equipment	$	3,415,550	$	3,219,157

_________________________________

(1) Certain amounts previously reported between land and buildings and machinery and equipment have been reclassified to conform to the current year presentation.

Depreciation is based on the following ranges of estimated useful lives:


Buildings			Up to 30 years
Machinery & equipment			4-10 years
Office equipment			2-10 years
Leasehold improvements			5-20 years

Schedule of reclassification from properly, plant and equipment

As of November 2, 2024, prepaid expenses and other current assets includes the following assets held for sale:



Land and buildings	$	62,106
Less accumulated depreciation and amortization	(20,604)
Net property, plant and equipment reclassified to Prepaid expenses and other current assets	$	41,502

Schedule of changes in goodwill

Schedule of intangible assets

As of November 2, 2024 and October 28, 2023, the Company’s intangible assets consisted of the following:


	November 2, 2024				October 28, 2023
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	10,335,903	$	4,561,856	$	10,335,903	$	3,811,865
Technology-based	7,597,471		3,786,054		7,589,027		2,804,876
Trade-name	72,200		72,200		72,200		68,432
Backlog (1)	—		—		361,200		361,200
Assembled workforce	1,800		1,800		1,800		1,800

Total	$	18,007,374	$	8,421,910	$	18,360,130	$	7,048,173

_________________________________

(1) Backlog-related intangible asset was fully utilized during fiscal 2024.

Schedule of expected annual amortization expense

The Company expects annual amortization expense for intangible assets as follows:


Fiscal Year	Amortization Expense
2025	$	1,584,043
2026	$	1,534,232
2027	$	1,529,740
2028	$	1,463,291
2029	$	1,126,744

Schedule of fair value of hedging instruments

The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s Consolidated Balance Sheets as of November 2, 2024 and October 28, 2023 were as follows:


		Fair Value At
	Balance Sheet Location	November 2, 2024		October 28, 2023
Forward foreign currency exchange contracts	Prepaid expenses and other current assets	$	780	$	471
Forward foreign currency exchange contracts	Accrued liabilities	$	4,235	$	9,897

As of November 2, 2024 and October 28, 2023, the total notional amounts of undesignated hedges related to forward foreign currency exchange contracts were $176.8 million and $334.7 million, respectively.


		Fair Value At
	Balance Sheet Location	November 2, 2024		October 28, 2023
Undesignated hedges related to forward foreign currency exchange contracts	Prepaid expenses and other current assets	$	6,538	$	1,469
Undesignated hedges related to forward foreign currency exchange contracts	Accrued liabilities	$	12,044	$	3,618

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:


	November 2, 2024				October 28, 2023
Balance Sheet Location	Loss on Swaps		Gain on Note		Loss on Swaps		Gain on Note
Accrued liabilities	$	36,855	$	—	$	81,602	$	—
Long-term debt	$	—	$	36,855	$	—	$	81,602

Schedule of fair value of financial assets and liabilities

excluded from the tables below.


	November 2, 2024
	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	$	592,560	$	—	$	592,560


Short-term investments:
Available-for-sale:
Securities with one year or less to maturity:
Corporate obligations (1)	—		71,246		71,246
Bank obligations (1)	—		300,576		300,576




Other assets:
Forward foreign currency exchange contracts (2)	—		7,318		7,318
Deferred compensation investments	92,698		—		92,698

Total assets measured at fair value	$	685,258	$	379,140	$	1,064,398
Liabilities

Forward foreign currency exchange contracts (2)	$	—	$	16,279	$	16,279
Interest rate derivatives (3)	—		36,855		36,855
Total liabilities measured at fair value	$	—	$	53,134	$	53,134

(1) The amortized cost of the Company’s investments classified as available-for-sale as of November 2, 2024 was $382.9 million.


	October 28, 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	$	315,980	$	—	$	315,980









Other assets:
Forward foreign currency exchange contracts (1)			1,940		1,940
Deferred compensation investments	78,246		—		78,246

Total assets measured at fair value	$	394,226	$	1,940	$	396,166
Liabilities

Forward foreign currency exchange contracts (1)	$	—	$	13,515	$	13,515
Interest rate derivatives (2)	—		81,602		81,602

Total liabilities measured at fair value	$	—	$	95,117	$	95,117

Schedule of debt

The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis. Given the short tenure of the Company’s commercial paper notes, the carrying value of the outstanding commercial paper notes approximates the fair values, and therefore, are excluded from the table below ($547.7 million and $547.2 million as of November 2, 2024 and October 28, 2023, respectively). 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. See Note 14, Debt, of the Notes to Consolidated Financial Statements for further discussion related to outstanding debt.


	November 2, 2024				October 28, 2023
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value





2024 Notes, due October 2024	$	—	$	—	$	500,000	$	499,473
2025 Notes, due April 2025	400,000		397,027		400,000		385,231

2026 Notes, due December 2026	900,000		882,795		900,000		851,023

2027 Notes, due June 2027	440,212		421,077		440,212		408,595
2028 Notes, due October 2028	750,000		673,316		750,000		628,999
2031 Notes, due October 2031	1,000,000		843,766		1,000,000		773,404
2032 Notes, due October 2032	300,000		287,172		300,000		269,828
2034 Notes, due April 2034	550,000		553,375		—		—
2036 Notes, due December 2036	144,278		136,718		144,278		118,554
2041 Notes, due October 2041	750,000		534,435		750,000		479,078
2045 Notes, due December 2045	332,587		322,942		332,587		292,248
2051 Notes, due October 2051	1,000,000		655,668		1,000,000		590,666
2054 Notes, due April 2054	550,000		541,912		—		—
Total Debt	$	7,117,077	$	6,250,203	$	6,517,077	$	5,297,099

Schedules of concentration of risk, by risk factor

Revenue attributable to significant distributors whose revenue as a percentage of total revenue was 10% or greater of total revenue is presented in the following table:


	Year Ended
	November 2, 2024	October 28, 2023	October 29, 2022
Distributor 1	24%	25%	22%
Distributor 2	12%	10%	10%
Distributor 3	12%	*	*

___________________________________________________________

*Revenue for this distributor was not greater than 10% of total revenue for these periods.

Schedule of components of accumulated other comprehensive (loss) income

The changes in components of AOCI at November 2, 2024 and October 28, 2023 consisted of the following:


	Foreign currency translation adjustment		Unrealized holding gains/losses on derivatives		Pension plans		Total
October 28, 2023	$	(72,544)	$	(102,043)	$	(13,715)	$	(188,302)
Other comprehensive income before reclassifications	1,033		10,481		(14,662)		(3,148)
Amounts reclassified out of other comprehensive loss	—		10,168		1,032		11,200
Tax	—		(3,808)		(1,198)		(5,006)
Other comprehensive income	1,033		16,841		(14,828)		3,046
November 2, 2024	$	(71,511)	$	(85,202)	$	(28,543)	$	(185,256)

Schedule of reclassification out of accumulated other comprehensive income

The amounts reclassified out of AOCI into the Consolidated Statements of Income, with presentation location during each period were as follows:



Comprehensive Income Component	2024		2023		Location
Changes in unrealized holding gains/losses on derivatives
Currency forwards	$	(775)	$	213	Cost of sales
	(219)		538		Research and development
	(3,762)		(2,738)		Selling, marketing, general and administrative



Interest rate derivatives	14,924		14,920		Interest expense
	10,168		12,933		Total before tax
	(2,140)		(3,311)		Tax

	$	8,028	$	9,622	Net of tax

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







Actuarial losses (1)	$	1,032	$	1,513	Net of tax

Total amounts reclassified out of AOCI, net of tax	$	9,060	$	11,135

_______________________________________

Schedule of computation of basic and diluted earnings per share

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


	2024		2023		2022
Net income	$	1,635,273	$	3,314,579	$	2,748,561



Basic shares:
Weighted-average shares outstanding	496,166		502,232		519,226
Earnings per common share basic	$	3.30	$	6.60	$	5.29

Diluted shares:
Weighted-average shares outstanding	496,166		502,232		519,226
Assumed exercise of common stock equivalents	2,531		3,727		3,952
Weighted-average common and common equivalent shares	498,697		505,959		523,178
Earnings per common share diluted	$	3.28	$	6.55	$	5.25
Anti-dilutive shares related to:
Outstanding stock options	71		253		608

Summary of Significant Accounting Policies - Derivatives Textual (Details) - USD ($)	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 05, 2021
Derivative [Line Items]
Principal	$ 7,664,815,000	$ 7,064,301,000
Senior Notes
Derivative [Line Items]
Principal	7,117,077,000	6,517,077,000
2031 Notes, due October 2031 \| Senior Notes
Derivative [Line Items]
Principal	$ 1,000,000,000	1,000,000,000	$ 1,000,000,000
Interest rate			2.10%
Forward Contracts
Derivative [Line Items]
Term of contract (in years)	1 year
Forward Contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 257,000,000.0	322,600,000
Forward Contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 176,800,000	334,700,000
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

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Revenue
Revenue	$ 9,427,157	$ 12,305,539	$ 12,013,953
Costs and Expenses
Cost of sales	4,045,814	4,428,321	4,481,479
Gross margin	5,381,343	7,877,218	7,532,474
Operating expenses:
Research and development	1,487,863	1,660,194	1,700,518
Selling, marketing, general and administrative	1,068,640	1,273,584	1,266,175
Amortization of intangibles	754,784	959,618	1,012,572
Special charges, net	37,258	160,710	274,509
Total operating expenses	3,348,545	4,054,106	4,253,774
Operating income	2,032,798	3,823,112	3,278,700
Nonoperating expense (income):
Interest expense	322,227	264,641	200,408
Interest income	(78,817)	(41,287)	(6,906)
Other, net	12,048	(8,245)	(13,551)
Total nonoperating expense (income)	255,458	215,109	179,951
Earnings
Income before income taxes	1,777,340	3,608,003	3,098,749
Provision for income taxes	142,067	293,424	350,188
Net income	$ 1,635,273	$ 3,314,579	$ 2,748,561
Shares used to compute earnings per common share — basic (in shares)	496,166	502,232	519,226
Shares used to compute earnings per common share — diluted (in shares)	498,697	505,959	523,178
Basic earnings per common share (in dollars per share)	$ 3.30	$ 6.60	$ 5.29
Diluted earnings per common share (in dollars per share)	$ 3.28	$ 6.55	$ 5.25

Leases - Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Cost (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Leases [Abstract]
Operating lease right-of-use assets in Other assets	$ 242,548	$ 277,220
Operating lease right-of-use assets in Other assets [Extensible Enumeration]	Other assets	Other assets
Operating lease liabilities in Accrued liabilities	$ 68,130	$ 64,745
Operating lease liabilities in Accrued liabilities [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating lease liabilities in Other non-current liabilities	$ 318,570	$ 360,460
Operating lease liabilities in Other non-current liabilities [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Lease expense	$ 68,331	$ 66,818
Cash flows from operating leases	82,070	68,759
Lease assets obtained in exchange for new lease liabilities	$ 15,801	$ 66,760
Weighted average remaining lease term	6 years 4 months 24 days	7 years 1 month 6 days
Weighted average discount rate	3.80%	3.60%

Industry, Segment and Geographic Information - Revenue Trends and Property, Plant and Equipment by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 9,427,157	$ 12,305,539	$ 12,013,953
Property, plant and equipment	3,415,550	3,219,157	2,401,304
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,840,426	4,165,296	4,025,398
Property, plant and equipment	1,907,527	1,577,914	1,117,404
Rest of North and South America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	62,318	88,579	72,497
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,109,529	3,001,871	2,534,423
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,085,631	1,397,119	1,221,549
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,128,840	2,229,631	2,563,536
Rest of Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,200,413	1,423,043	1,596,550
Subtotal all foreign regions
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	6,586,731	8,140,243	7,988,555
Property, plant and equipment	1,508,023	1,641,243	1,283,900
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment	625,658	573,684	343,728
Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment	468,900	620,453	608,474
Thailand
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment	195,150	209,660	143,558
Malaysia
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment	108,286	123,574	119,670
All other regions
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment	$ 110,029	$ 113,872	$ 68,470

Audit Information	12 Months Ended
Audit Information	Nov. 02, 2024
Auditor Information [Abstract]
Auditor Name	Ernst & Young
Auditor Location	Boston, Massachusetts
Auditor Firm ID	42

Retirement Plans - Textual (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Retirement Benefits [Abstract]
Employer matching contribution, percent of employees' gross pay	5.00%
Employer matching contribution, percent of match	3.00%
Total expense related to the defined contribution plan for U.S. employees	$ 74.3	$ 76.0	$ 65.2
Maximum of each participants eligible deferred contributions	8.00%
Total expense related to the defined benefit pension and other retirement plans for certain non-U.S. employees	$ 56.9	55.3	$ 51.4
Accumulated benefit obligation for pension and postretirement benefit plans	$ 132.7	$ 120.1

Accrued Liabilities

12 Months Ended

Nov. 02, 2024

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities at November 2, 2024 and October 28, 2023 consisted of the following:


	2024		2023
Distributor price adjustments and other revenue reserves	$	508,722	$	525,405
Accrued compensation and benefits	220,091		308,001
Lease liabilities	68,130		64,745
Accrued interest	45,517		40,412
Interest rate swap	36,855		81,602
Accrued withholdings related to ESPP	33,114		32,441
Accrued taxes	23,143		36,649
Accrued special charges	14,572		124,291

Other	155,926		139,062
Total accrued liabilities	$	1,106,070	$	1,352,608

Acquisitions (Details)	Aug. 26, 2021
Maxim
Business Acquisition [Line Items]
Conversion of company common stock	0.6300

Summary of Significant Accounting Policies - Fair Value Textual (Details) - USD ($) $ in Millions	Nov. 02, 2024	Oct. 28, 2023
Accounting Policies [Abstract]
Cash and held to maturity investments	$ 1,400.0	$ 642.1

Income Taxes - Income Before Income Taxes Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 517,555	$ 846,592	$ 958,465
Foreign	1,259,785	2,761,411	2,140,284
Income before income taxes	$ 1,777,340	$ 3,608,003	$ 3,098,749

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,635,273	$ 3,314,579	$ 2,748,561

- Definition

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

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Summary of Significant Accounting Policies - Cash, Cash Equivalents and Short-Term Investments (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Cash and Cash Equivalents:
Cash and cash equivalents	$ 1,398,782	$ 642,081
Available-for-sale securities	592,560	315,980
Total cash and cash equivalents	1,991,342	958,061
Short-term investments:
Available-for-sale securities	371,822	0
Total short-term investments	$ 371,822	$ 0

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Deferred tax assets:
Inventory reserves	$ 29,139	$ 20,159
Reserves for compensation and benefits	48,801	57,603
Tax credit carryovers	318,469	313,891
Stock-based compensation	22,290	10,734
Net operating losses	41,340	42,825
Intangible assets	1,871,218	1,955,752
Lease liability	74,715	82,305
Capitalization of R&D expenses	624,682	421,485
Other	71,049	88,164
Total gross deferred tax assets	3,101,703	2,992,918
Valuation allowance	(343,079)	(332,464)
Total deferred tax assets	2,758,624	2,660,454
Deferred tax liabilities:
Depreciation	(139,556)	(122,125)
Deferred GILTI tax liabilities	(2,442,068)	(2,654,817)
Right of use asset	(53,303)	(60,343)
Acquisition-related intangibles	(664,337)	(727,749)
Total gross deferred tax liabilities	(3,299,264)	(3,565,034)
Net deferred tax liabilities	$ (540,640)	$ (904,580)

Subsequent Events	12 Months Ended
Subsequent Events	Nov. 02, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On November 25, 2024, the Board of Directors of the Company declared a cash dividend of $0.92 per outstanding share of common stock. The dividend will be paid on December 20, 2024 to all shareholders of record at the close of business on December 9, 2024 and is expected to total approximately $456.6 million.

Summary of Significant Accounting Policies - Fair Value Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Available-for-sale:
Available-for-sale securities	$ 371,822	$ 0
Other assets:
Forward foreign currency exchange contracts	7,318	1,940
Deferred compensation investments	92,698	78,246
Total assets measured at fair value	1,064,398	396,166
Liabilities
Forward foreign currency exchange contracts	16,279	13,515
Interest rate derivatives	36,855	81,602
Total liabilities measured at fair value	53,134	95,117
Available-for-sale, amortized cost	382,900
Quoted Prices in Active Markets for Identical Assets (Level 1)
Other assets:
Forward foreign currency exchange contracts	0
Deferred compensation investments	92,698	78,246
Total assets measured at fair value	685,258	394,226
Liabilities
Forward foreign currency exchange contracts	0	0
Interest rate derivatives	0	0
Total liabilities measured at fair value	0	0
Significant Other Observable Inputs (Level 2)
Other assets:
Forward foreign currency exchange contracts	7,318	1,940
Deferred compensation investments	0	0
Total assets measured at fair value	379,140	1,940
Liabilities
Forward foreign currency exchange contracts	16,279	13,515
Interest rate derivatives	36,855	81,602
Total liabilities measured at fair value	53,134	95,117
Corporate Obligations
Available-for-sale:
Available-for-sale securities	71,246
Corporate Obligations \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Available-for-sale:
Available-for-sale securities	0
Corporate Obligations \| Significant Other Observable Inputs (Level 2)
Available-for-sale:
Available-for-sale securities	71,246
Bank Obligations
Available-for-sale:
Available-for-sale securities	300,576
Bank Obligations \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Available-for-sale:
Available-for-sale securities	0
Bank Obligations \| Significant Other Observable Inputs (Level 2)
Available-for-sale:
Available-for-sale securities	300,576
Government and institutional money market funds
Available-for-sale:
Cash equivalents	592,560	315,980
Government and institutional money market funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Available-for-sale:
Cash equivalents	592,560	315,980
Government and institutional money market funds \| Significant Other Observable Inputs (Level 2)
Available-for-sale:
Cash equivalents	$ 0	$ 0

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Product Information [Line Items]
Standard product warranty term (in months)	12 months
Revenue	$ 9,427,157	$ 12,305,539	$ 12,013,953
Distributors
Product Information [Line Items]
Revenue	5,505,779	7,534,894	$ 7,458,478
Liability	$ 508,700	$ 525,400

- Definition

+ References

+ Details

Leases

12 Months Ended

Nov. 02, 2024

Leases [Abstract]

Leases

The Company enters into operating leases which primarily relate to certain facilities and, to a lesser extent, finance leases. Finance leases were not a material component of the Company’s lease portfolio in the periods presented. The Company determines whether an arrangement is or contains a lease based on the unique facts and circumstances present at the inception of an arrangement. Lease assets represent the Company’s right to use underlying assets for the lease term, and lease liabilities represent the obligation to make lease payments over the lease term. At lease commencement, leases are evaluated for classification, and assets and liabilities are recognized based on the present value of lease payments over the lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company utilizes the appropriate incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received, such as construction allowances from landlords and/or rent abatements subsequent to taking possession of the leased property. The Company has agreements with lease and non-lease components, which are accounted for as a single lease component. Non-lease components may include real estate taxes, insurance, maintenance, parking and other operating costs. If these costs are variable costs they are not included in the measurement of the right-of-use assets and lease liabilities, but are expensed when the event determining the amount of variable consideration to be paid occurs. The Company’s leases have remaining lease terms of less than one year to approximately twenty-one years, some of which may include options to extend the initial term of the lease. These options are included in determining the initial lease term at lease commencement only if the Company is reasonably certain to exercise the option. Lease costs are recognized on a straight-line basis as lease expense over the lease term. For leases with terms of twelve months or less the Company recognizes the related lease payments as expense either on a straight-line basis over the lease term or as incurred depending on whether the lease payments are fixed or variable. The Company subleases certain properties that are not used in its core business operations (See Note 5, Special Charges, Net, of the Notes to Consolidated Financial Statements). Sublease income was $12.8 million and $12.9 million in fiscal 2024 and fiscal 2023, respectively.

The following table presents supplemental balance sheet information related to the Company’s operating leases:


	November 2, 2024		October 28, 2023
Assets
Operating lease right-of-use assets in Other assets	$	242,548	$	277,220
Liabilities
Operating lease liabilities in Accrued liabilities	$	68,130	$	64,745
Operating lease liabilities in Other non-current liabilities	$	318,570	$	360,460

Details of the Company’s operating leases are as follows:


	November 2, 2024		October 28, 2023
Lease expense	$	68,331	$	66,818

Cash paid for amounts included in the measurement of operating lease liabilities
Cash flows from operating leases	$	82,070	$	68,759
Lease assets obtained in exchange for new lease liabilities	$	15,801	$	66,760
Weighted average remaining lease term	6.4 years		7.1 years
Weighted average discount rate	3.8%		3.6%

The following table presents the maturities of the Company’s operating lease liabilities as of November 2, 2024:


Fiscal year
2025	$	83,059
2026	77,444
2027	69,160
2028	55,753
2029	50,990
Thereafter	98,450
Total future minimum operating lease payments	434,856
Less: imputed interest	(48,156)
Present value of operating lease liabilities	$	386,700

The following table presents the future minimum cash receipts as a result of subleases as of November 2, 2024:


Fiscal year
2025	$	15,231
2026	15,683
2027	16,153
2028	16,635
2029	16,886
Thereafter	12,480
Total future minimum cash receipts	$	93,068

Leases

The following table presents supplemental balance sheet information related to the Company’s operating leases:


	November 2, 2024		October 28, 2023
Assets
Operating lease right-of-use assets in Other assets	$	242,548	$	277,220
Liabilities
Operating lease liabilities in Accrued liabilities	$	68,130	$	64,745
Operating lease liabilities in Other non-current liabilities	$	318,570	$	360,460

Details of the Company’s operating leases are as follows:


	November 2, 2024		October 28, 2023
Lease expense	$	68,331	$	66,818

Cash paid for amounts included in the measurement of operating lease liabilities
Cash flows from operating leases	$	82,070	$	68,759
Lease assets obtained in exchange for new lease liabilities	$	15,801	$	66,760
Weighted average remaining lease term	6.4 years		7.1 years
Weighted average discount rate	3.8%		3.6%

The following table presents the maturities of the Company’s operating lease liabilities as of November 2, 2024:


Fiscal year
2025	$	83,059
2026	77,444
2027	69,160
2028	55,753
2029	50,990
Thereafter	98,450
Total future minimum operating lease payments	434,856
Less: imputed interest	(48,156)
Present value of operating lease liabilities	$	386,700

The following table presents the future minimum cash receipts as a result of subleases as of November 2, 2024:


Fiscal year
2025	$	15,231
2026	15,683
2027	16,153
2028	16,635
2029	16,886
Thereafter	12,480
Total future minimum cash receipts	$	93,068

Industry, Segment and Geographic Information - Textual (Details)	12 Months Ended
	Nov. 02, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

Summary of Significant Accounting Policies - Prepaid Expenses and Other Current Assets (Details) $ in Thousands	Nov. 02, 2024 USD ($)
Long Lived Assets Held-for-sale [Line Items]
Less accumulated depreciation and amortization	$ (20,604)
Net property, plant and equipment reclassified to Prepaid expenses and other current assets	41,502
Land and Buildings
Long Lived Assets Held-for-sale [Line Items]
Land and buildings	$ 62,106

Summary of Significant Accounting Policies - Accumulated Other Comprehensive (Loss) Income - Reclassified Amounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales	$ 4,045,814	$ 4,428,321	$ 4,481,479
Research and development	1,487,863	1,660,194	1,700,518
Selling, marketing, general and administrative	1,068,640	1,273,584	1,266,175
Interest expense	322,227	264,641	200,408
Total before tax	(1,777,340)	(3,608,003)	(3,098,749)
Tax	142,067	293,424	350,188
Net of tax	(1,635,273)	(3,314,579)	$ (2,748,561)
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net of tax	9,060	11,135
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized holding gains/losses on derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	10,168	12,933
Tax	(2,140)	(3,311)
Net of tax	8,028	9,622
Reclassification out of Accumulated Other Comprehensive Income \| Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net of tax	1,032	1,513
Currency forwards \| Reclassification out of Accumulated Other Comprehensive Income \| Unrealized holding gains/losses on derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales	(775)	213
Research and development	(219)	538
Selling, marketing, general and administrative	(3,762)	(2,738)
Interest rate derivatives \| Reclassification out of Accumulated Other Comprehensive Income \| Unrealized holding gains/losses on derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense	$ 14,924	$ 14,920

Valuation and Qualifying Accounts

12 Months Ended

Nov. 02, 2024

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

Years ended November 2, 2024, October 28, 2023 and October 29, 2022

(dollar amounts in thousands)


Description	Balance at Beginning of Period		Additions (Reductions) Charged to Income Statement		Other		Balance at End of Period





Valuation Allowance for Deferred Tax Asset:

Year ended October 29, 2022	$	315,434	$	29,737	$	(6,066)	$	339,105
Year ended October 28, 2023	$	339,105	$	(6,641)	$	—	$	332,464
Year ended November 2, 2024	$	332,464	$	10,615	$	—	$	343,079

Summary of Significant Accounting Policies - Stock-Based Compensation (Details) - installment	12 Months Ended
	Nov. 02, 2024	Nov. 03, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installment		1
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	4 years	5 years
Award vesting rights	25.00%	20.00%
Award contractual term (in years)	10 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installment	1

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(1)(ii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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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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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Stock-Based Compensation and Shareholders’ Equity - Textual (Details) - USD ($)	3 Months Ended	12 Months Ended				243 Months Ended
	Jan. 29, 2022	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022	Oct. 30, 2021	Nov. 02, 2024	Aug. 25, 2021	Mar. 31, 2020	Aug. 31, 2004
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual forfeiture rate		5.00%				5.00%
Share-based payment arrangement, amount capitalized		$ 10,400,000	$ 12,900,000
Total intrinsic value of options exercised		93,900,000	95,000,000.0	$ 56,200,000
Total unrecognized compensation cost related to unvested share-based awards, before tax consideration		$ 607,800,000				$ 607,800,000
Weighted-average period for recognition of compensation cost (in years)		1 year 6 months
Total grant-date fair value of vested stock options		$ 309,000,000.0	$ 298,200,000	$ 283,000,000.0
Amount authorized to repurchase company common stock							$ 8,500,000,000		$ 16,700,000,000
Repurchase of common stock		$ 1,700,000,000				1,700,000,000
Repurchased common stock (in shares)		207,700,000
Repurchase of common stock, cumulative						$ 15,000,000,000.0
Preferred stock, authorized (in shares)		471,934	471,934			471,934
Preferred stock, par value (in dollars per share)		$ 1.00	$ 1.00			$ 1.00
Preferred stock, issued (in shares)		0				0
Preferred stock, outstanding (in shares)		0	0			0
Share Repurchase Program, Fiscal 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount authorized to repurchase company common stock					$ 2,500,000,000
Initial delivery (in shares)					12,300,000
Initial purchase, percentage of common stock underlying agreement					80.00%
Remaining purchase, percentage of common stock underlying agreement					20.00%
Repurchase of common stock					$ 500,000,000
Repurchased common stock (in shares)	2,100,000
Repurchase of common stock, cumulative	$ 14,400,000
Shares delivered (in dollars per share)	$ 173.77
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of common shares available for grant Units/Awards granted (in shares)		4,100,000				4,100,000
ESPP \| US
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP purchase price of common stock, percent of market price		85.00%
ESPP \| Outside US
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP purchase price of common stock, percent of market price		80.00%
2020 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)								21,200,000
Total number of common shares available for grant Units/Awards granted (in shares)		13,500,000				13,500,000

Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 18,007,374	$ 18,360,130
Accumulated Amortization	8,421,910	7,048,173
Amortization of intangibles	$ 1,741,545	1,958,399	$ 2,014,161
Weighted average useful lives (in years)	3 years 8 months 12 days
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2025	$ 1,584,043
2026	1,534,232
2027	1,529,740
2028	1,463,291
2029	1,126,744
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,335,903	10,335,903
Accumulated Amortization	4,561,856	3,811,865
Technology-based
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,597,471	7,589,027
Accumulated Amortization	3,786,054	2,804,876
Trade-name
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	72,200	72,200
Accumulated Amortization	72,200	68,432
Backlog
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	361,200
Accumulated Amortization	0	361,200
Assembled workforce
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,800	1,800
Accumulated Amortization	$ 1,800	$ 1,800

Retirement Plans - Schedule of Expected Benefit Payments (Details) $ in Thousands	Nov. 02, 2024 USD ($)
Expected Company Contributions
2025	$ 10,773
Expected Benefit Payments
2025	6,793
2026	5,632
2027	6,853
2028	8,029
2029	9,017
2030 through 2034	$ 64,282

Stock-Based Compensation and Shareholders’ Equity (Tables)

12 Months Ended

Nov. 02, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of share-based payment arrangement, expensed amount

Total stock-based compensation expense recognized is as follows:


	2024		2023		2022
Cost of sales	$	31,233	$	36,703	$	36,773
Research and development	109,011		116,354		121,298
Selling, marketing, general and administrative	114,638		143,789		133,900
Special charges, net	7,828		2,977		31,516
Total stock-based compensation expense	$	262,710	$	299,823	$	323,487

Schedule of the activity under the company's stock option plans

A summary of the stock option activity as of November 2, 2024 and changes during the fiscal year then ended is presented below:


	Options Outstanding (in thousands)	Weighted- Average Exercise Price Per Share	Weighted- Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at October 28, 2023	2,367	$96.33

Options exercised	(699)	$73.36
Options forfeited	(29)	$106.33

Options outstanding at November 2, 2024	1,639	$105.95	4.2	$195,951
Options exercisable at November 2, 2024	1,293	$95.65	3.7	$167,918
Options vested or expected to vest at November 2, 2024 (1)	1,639	$105.94	4.2	$195,911

_______________________________________

(1)In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. The number of options expected to vest is calculated by applying an estimated forfeiture rate to the unvested options.

Schedule of the company's restricted stock unit award activity

A summary of the Company’s restricted stock unit and award activity as of November 2, 2024 and changes during the fiscal year then ended is presented below:


	Restricted Stock Units/Awards Outstanding (in thousands)	Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding at October 28, 2023	5,047	$162.20
Units/Awards granted	1,876	$206.92
Restrictions lapsed	(2,053)	$145.25
Forfeited	(389)	$169.82
Restricted stock units/awards outstanding at November 2, 2024	4,481	$186.81

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Statement of Comprehensive Income [Abstract]
Changes in fair value of derivatives, tax	$ 5,948	$ 486	$ 2,902
Adjustment for realized loss reclassified into earnings, tax	2,140	3,311	5,054
Change in actuarial (loss)/gain, tax	$ 1,198	$ 312	$ 7,756

Retirement Plans - Obligation and Asset Data (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Change in Benefit Obligation
Benefit obligation at beginning of year	$ 167,868	$ 157,730
Service cost	8,643	7,728	$ 10,914
Interest cost	9,564	8,773	6,148
Plan combinations	23,349	(3,880)
Settlement	(13,240)	(1,887)
Actuarial gain	5,438	574
Benefits paid	(3,152)	(6,352)
Exchange rate adjustment	4,309	5,182
Benefit obligation at end of year	202,779	167,868	157,730
Change in Plan Assets
Fair value of plan assets at beginning of year	87,606	84,029
Actual return on plan assets	9,479	(2,831)
Employer contributions	10,273	10,811
Plan combinations	4,602	0
Settlements	(13,240)	(1,887)
Benefits paid	(3,152)	(6,352)
Exchange rate adjustment	3,080	3,836
Fair value of plan assets at end of year	98,648	87,606	$ 84,029
Reconciliation of Funded Status
Funded status	(104,131)	(80,262)
Amounts Recognized in the Balance Sheet
Non-current assets	6,111	0
Current liabilities	(3,254)	(4,222)
Non-current liabilities	(106,988)	(76,040)
Net amount recognized	(104,131)	(80,262)
Reconciliation of Amounts Recognized in the Statement of Financial Position
Net loss	(25,961)	(12,331)
Accumulated other comprehensive loss	(25,961)	(12,331)
Accumulated contributions less than net periodic benefit cost	(78,170)	(67,931)
Net amount recognized	(104,131)	(80,262)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Net gain/loss arising during the year	1,019	8,876
Plan combinations	13,413	0
Effect of exchange rates on amounts included in AOCI	1,363	(536)
Amounts recognized as a component of net periodic benefit cost
Amortization or settlement recognition of net loss	(2,165)	(1,340)
Total recognized in other comprehensive gain/loss	13,630	7,000
Total recognized in net periodic cost and other comprehensive loss	28,941	19,606
Estimated amounts that will be amortized from AOCI over the next fiscal year
Net loss	$ (2,148)	$ (1,281)

Summary of Significant Accounting Policies - Supplemental Cash Flow Statement Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Cash paid during the fiscal year for:
Income taxes	$ 414,838	$ 987,225	$ 821,683
Interest	$ 268,192	$ 206,415	$ 172,957

Summary of Significant Accounting Policies - Earnings Per Share of Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Earnings per share
Net income	$ 1,635,273	$ 3,314,579	$ 2,748,561
Basic shares:
Weighted-average shares outstanding (in shares)	496,166	502,232	519,226
Earnings per common share basic (in dollars per share)	$ 3.30	$ 6.60	$ 5.29
Diluted shares:
Weighted-average shares outstanding (in shares)	496,166	502,232	519,226
Assumed exercise of common stock equivalents (in shares)	2,531	3,727	3,952
Weighted-average common and common equivalent shares (in shares)	498,697	505,959	523,178
Earnings per common share diluted (in dollars per share)	$ 3.28	$ 6.55	$ 5.25
Outstanding stock options (in shares)	71	253	608

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - week	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Accounting Policies [Line Items]
Fiscal year term	53	52	52
Minimum
Accounting Policies [Line Items]
Fiscal year term	52
Maximum
Accounting Policies [Line Items]
Fiscal year term	53

Income Taxes - Changes in Unrealized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Changes in the total amounts of unrealized tax benefits
Unrealized tax benefits, beginning balance	$ 187,415	$ 165,327	$ 132,521
Additions for tax positions related to the Acquisition			15,267
Additions for tax positions related to current year	5,793	5,895	11,800
Reductions for tax positions related to prior years	(27,499)
Reductions for tax positions related to prior years		17,096	9,704
Reductions due to lapse of applicable statute of limitations	(3,013)	(903)	(3,965)
Unrealized tax benefits, ending balance	$ 162,696	$ 187,415	$ 165,327

Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Current:
Federal tax	$ 348,144	$ 303,146	$ 304,556
State	14,399	11,772	13,214
Foreign	147,087	431,452	359,173
Total current	509,630	746,370	676,943
Deferred:
Federal	(492,578)	(508,741)	(341,777)
State	3,579	2,063	(612)
Foreign	121,436	53,732	15,634
Total deferred	(367,563)	(452,946)	(326,755)
Total income tax provision	$ 142,067	$ 293,424	$ 350,188

Special Charges, Net (Tables)

12 Months Ended

Nov. 02, 2024

Restructuring and Related Activities [Abstract]

Schedule of the company's accrued restructuring

Liabilities related to special charges, net are presented in accrued liabilities and other non-current liabilities on the Consolidated Balance Sheets. The activity is detailed below:


Accrued Special Charges	Global Repositioning Actions			Q4 2023 Plan




























Balance at October 30, 2021	$	21,065		$	—
Employee severance and benefit costs	149,853			—
Facility closure costs	—			—
Severance and benefit payments, net	(118,567)			—
Facility closure cost payments	—			—


Effect of foreign currency on accrual	(281)			—
Balance at October 29, 2022	$	52,070		$	—
Employee severance and benefit costs	45,064			113,995

Severance and benefit payments, net	(60,153)			(3,549)




Balance at October 28, 2023	$	36,981	(1)	$	110,446
Employee severance and benefit costs	(5,106)			41,907

Severance and benefit payments, net	(18,020)			(151,636)


Balance at November 2, 2024	$	13,855		$	717

_________________________________________________________

Summary of Significant Accounting Policies - Useful Live of Property, Plant and Equipment (Details)	Nov. 02, 2024
Buildings
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life (in years)	30 years
Machinery & equipment \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life (in years)	4 years
Machinery & equipment \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Office equipment \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life (in years)	2 years
Office equipment \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Leasehold improvements \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life (in years)	5 years
Leasehold improvements \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life (in years)	20 years

Summary of Significant Accounting Policies - Interest Rate Derivatives (Details) - Interest Rate Swap - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Accrued liabilities
Derivatives, Fair Value [Line Items]
Loss on Swaps	$ 36,855	$ 81,602
Gain on Note	0	0
Long-term debt
Derivatives, Fair Value [Line Items]
Loss on Swaps	0	0
Gain on Note	$ 36,855	$ 81,602

Stock-Based Compensation and Shareholders’ Equity

12 Months Ended

Nov. 02, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation and Shareholders’ Equity

Equity Compensation Plans

The Company grants, or has granted, stock options and other stock and stock-based awards under the Company’s 2020 Equity Incentive Plan (2020 Plan), which was approved by shareholders in March 2020. The 2020 Plan provides for the issuance of up to 21.2 million shares of the Company’s common stock, which includes shares that remained available or became available under the Company’s previous equity compensation plans, including the Amended and Restated 2006 Stock

Incentive Plan and the Amended and Restated 2010 Equity Incentive Plan. The 2020 Plan provides for the grant of incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended, non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based awards. Employees, officers, directors, consultants and advisors of the Company and its subsidiaries are eligible to be granted awards under the 2020 Plan. No award may be made under the 2020 Plan after March 11, 2030, but awards previously granted may extend beyond that date. The Company does not intend to grant further equity awards under any previous legacy equity compensation plans. Additionally, in connection with the Acquisition, the Company assumed the Maxim 1996 Stock Incentive Plan (1996 Plan), which expired by its terms in July 2024. As of November 2, 2024, a total of 13.5 million shares of the Company’s common stock were available for future issuance under the 2020 Plan.

Modification of Awards

The Company has, from time to time, modified the terms of its equity awards to employees and directors. The modifications made to the Company’s equity awards in fiscal 2024, fiscal 2023 and fiscal 2022 did not result in significant incremental compensation costs, either individually or in the aggregate.

Employee Stock Purchase Plan

The Company offers an ESPP to eligible employees, providing the opportunity to purchase shares of the Company’s common stock at a discount through payroll deductions. Offering periods begin in June and December each year. U.S. employees are allowed to purchase the Company’s common stock at the lesser of 85% of the fair market value of the common stock at either the beginning or end of the offering period. Eligible employees outside of the U.S. are allowed to purchase the Company’s common stock at the lesser of 80% of the fair market value of the common stock at either the beginning or end of the offering period. As of November 2, 2024, a total of 4.1 million shares of the Company’s common stock were available for future grant under the ESPP.

Stock-Based Compensation Expense

The amount of stock-based compensation expense recognized during a period is based on the value of the awards that are ultimately expected to vest. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeitures” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered stock-based award. Based on an analysis of its historical forfeitures, the Company has applied an annual forfeiture rate of 5.0% to all unvested stock-based awards as of November 2, 2024. This analysis will be re-evaluated annually and the forfeiture rate will be adjusted as necessary. Ultimately, the actual expense recognized over the vesting period will only be for those awards that vest.

Total stock-based compensation expense recognized is as follows:


	2024		2023		2022
Cost of sales	$	31,233	$	36,703	$	36,773
Research and development	109,011		116,354		121,298
Selling, marketing, general and administrative	114,638		143,789		133,900
Special charges, net	7,828		2,977		31,516
Total stock-based compensation expense	$	262,710	$	299,823	$	323,487

As of November 2, 2024 and October 28, 2023, the Company capitalized $10.4 million and $12.9 million, respectively, of stock-based compensation in inventory.

Stock-Based Compensation Activity

A summary of the stock option activity as of November 2, 2024 and changes during the fiscal year then ended is presented below:


	Options Outstanding (in thousands)	Weighted- Average Exercise Price Per Share	Weighted- Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at October 28, 2023	2,367	$96.33

Options exercised	(699)	$73.36
Options forfeited	(29)	$106.33

Options outstanding at November 2, 2024	1,639	$105.95	4.2	$195,951
Options exercisable at November 2, 2024	1,293	$95.65	3.7	$167,918
Options vested or expected to vest at November 2, 2024 (1)	1,639	$105.94	4.2	$195,911

_______________________________________

The total intrinsic value of options exercised (i.e., the difference between the market price at exercise and the price paid by the employee to exercise the options) during fiscal 2024, fiscal 2023 and fiscal 2022 was $93.9 million, $95.0 million and $56.2 million, respectively.

A summary of the Company’s restricted stock unit and award activity as of November 2, 2024 and changes during the fiscal year then ended is presented below:


	Restricted Stock Units/Awards Outstanding (in thousands)	Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding at October 28, 2023	5,047	$162.20
Units/Awards granted	1,876	$206.92
Restrictions lapsed	(2,053)	$145.25
Forfeited	(389)	$169.82
Restricted stock units/awards outstanding at November 2, 2024	4,481	$186.81

As of November 2, 2024, there was $607.8 million of total unrecognized compensation cost related to unvested stock-based awards comprised of stock options, restricted stock awards and restricted stock unit awards. That cost is expected to be recognized over a weighted-average period of 1.5 years. The total grant-date fair value of awards that vested during fiscal 2024, fiscal 2023 and fiscal 2022 was approximately $309.0 million, $298.2 million and $283.0 million, respectively.

Common Stock Repurchases

In fiscal 2021, the Company entered into accelerated share repurchase agreements (ASR) with third-party financial institutions, paid $2.5 billion and received an initial delivery of 12.3 million shares of common stock, which represented approximately 80% of the notional amount of the ASR. As of October 30, 2021, the Company recorded the remaining 20%, or $500.0 million, within Prepaid expenses and other current assets on the Consolidated Balance Sheets, which was utilized during the first quarter of fiscal 2022. During the first quarter of fiscal 2022, the ASR was completed and an additional 2.1 million shares of common stock were received by the Company as final settlement of the ASR. In total, the Company repurchased 14.4 million shares of common stock under the ASR at an average price per share of $173.77.

The Company’s share repurchase program has been in place since August 2004. In the aggregate, the Board of Directors has authorized the Company to repurchase $16.7 billion of the Company’s common stock under the program, which includes the $8.5 billion authorization approved by the Board of Directors on August 25, 2021. The Company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions. Unless terminated earlier by resolution of the Company’s Board of Directors, the repurchase program will expire when the Company has repurchased all shares authorized under the program. As of November 2, 2024, the Company had repurchased a total of approximately 207.7 million shares of its common stock for approximately $15.0 billion under this program. An additional $1.7 billion remains available for repurchase of shares under the current authorized program. The repurchased shares are held as authorized but unissued shares of common stock.

The Company also, from time to time, repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units/awards or the exercise of stock options. The withholding amount is based on the employee’s minimum statutory withholding requirement.

Preferred Stock

The Company has 471,934 authorized shares of $1.00 par value preferred stock, none of which is issued or outstanding. The Board of Directors is authorized to fix designations, relative rights, preferences and limitations on the preferred stock at the time of issuance.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 13
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 14
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

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/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
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-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)
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-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
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-Section 50
-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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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
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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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 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation and Shareholders’ Equity - Restricted Stock Unit Award Activity (Details) shares in Thousands	12 Months Ended
	Nov. 02, 2024 $ / shares shares
Restricted Stock Units/Awards Outstanding
Restricted stock units/awards outstanding, beginning balance (in shares) \| shares	5,047
Units/Awards granted (in shares) \| shares	1,876
Restrictions lapsed (in shares) \| shares	(2,053)
Forfeited (in shares) \| shares	(389)
Restricted stock units/awards outstanding, ending balance (in shares) \| shares	4,481
Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding, beginning balance (in dollars per share) \| $ / shares	$ 162.20
Units/Awards granted (in dollars per share) \| $ / shares	206.92
Restrictions lapsed (in dollars per share) \| $ / shares	145.25
Forfeited (in dollars per share) \| $ / shares	169.82
Restricted stock units/awards outstanding, beginning balance (in dollars per share) \| $ / shares	$ 186.81

Acquisitions	12 Months Ended
Acquisitions	Nov. 02, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions Maxim Integrated Products, Inc. On the Acquisition Date, the Company completed its acquisition of all of the voting interests of Maxim, an independent manufacturer of innovative analog and mixed-signal products and technologies. Under the terms of the agreement pursuant to which the Company acquired Maxim, Maxim stockholders received, for each outstanding share of Maxim common stock, 0.6300 of a share of the Company’s common stock at the closing. The results of operations of Maxim from the Acquisition Date are included in the Company’s Consolidated Financial Statements for the year ended October 30, 2021.

Industry, Segment and Geographic Information

12 Months Ended

Nov. 02, 2024

Segment Reporting [Abstract]

Industry, Segment and Geographic Information

The Company operates and tracks its results in one reportable segment based on the aggregation of its operating segments. The Company designs, develops, manufactures and markets a broad range of integrated circuits (ICs). The Chief Executive Officer has been identified as the Company’s Chief Operating Decision Maker. The Company has determined that all of the Company’s operating segments share the following similar economic characteristics, and therefore meet the criteria established for operating segments to be aggregated into one reportable segment, namely:

•The primary source of revenue for each operating segment is the sale of ICs.

•The ICs sold by each of the Company’s operating segments are manufactured using similar semiconductor manufacturing processes and raw materials in either the Company’s own production facilities or by third-party wafer fabricators using proprietary processes.

•The Company sells its products to tens of thousands of customers worldwide. Many of these customers use products spanning all operating segments in a wide range of applications.

•The ICs marketed by each of the Company’s operating segments are sold globally through a direct sales force, third-party distributors, independent sales representatives and via the Company’s website to the same types of customers.

All of the Company’s operating segments share a similar long-term financial model as they have similar economic characteristics. The causes for variation in operating and financial performance are the same among the Company’s operating segments and include factors such as (i) life cycle and price and cost fluctuations, (ii) number of competitors, (iii) product differentiation and (iv) size of market opportunity. Additionally, each operating segment is subject to the overall cyclical nature of the semiconductor industry. Lastly, the number and composition of employees and the amounts and types of tools and materials required for production of products are proportionally similar for each operating segment.

Revenue Trends by End Market


	2024				2023				2022
	Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)
Industrial	$	4,314,280	46	%	$	6,611,794	54	%	$	6,230,874	52	%
Automotive	2,827,439		30	%	2,876,140		23	%	2,407,822		20	%
Communications	1,080,496		11	%	1,606,426		13	%	1,855,311		15	%
Consumer	1,204,942		13	%	1,211,179		10	%	1,519,946		13	%
Total revenue	$	9,427,157	100	%	$	12,305,539	100	%	$	12,013,953	100	%

_______________________________________

(1)The sum of the individual percentages may not equal the total due to rounding.

Revenue by Sales Channel


	2024				2023				2022
	Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)		Revenue		% of Total Revenue (1)
Distributors	$	5,505,779	58	%	$	7,534,894	61	%	$	7,458,478	62	%
Direct customers	3,772,945		40	%	4,603,166		37	%	4,423,883		37	%
Other	148,433		2	%	167,479		1	%	131,592		1	%
Total revenue	$	9,427,157	100	%	$	12,305,539	100	%	$	12,013,953	100	%

_______________________________________

(1)The sum of the individual percentages may not equal the total due to rounding.

Geographic Information


	2024		2023		2022
Revenue
United States	$	2,840,426	$	4,165,296	$	4,025,398
Rest of North and South America	62,318		88,579		72,497
Europe	2,109,529		3,001,871		2,534,423
Japan	1,085,631		1,397,119		1,221,549
China	2,128,840		2,229,631		2,563,536
Rest of Asia	1,200,413		1,423,043		1,596,550
Subtotal all foreign regions	6,586,731		8,140,243		7,988,555
Total revenue	$	9,427,157	$	12,305,539	$	12,013,953
Property, plant and equipment
United States	$	1,907,527	$	1,577,914	$	1,117,404
Ireland	625,658		573,684		343,728
Philippines	468,900		620,453		608,474
Thailand	195,150		209,660		143,558

Malaysia	108,286		123,574		119,670
All other regions	110,029		113,872		68,470
Subtotal all foreign regions	1,508,023		1,641,243		1,283,900
Total property, plant and equipment	$	3,415,550	$	3,219,157	$	2,401,304

- 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

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+ Details

Retirement Plans (Tables)

12 Months Ended

Nov. 02, 2024

Retirement Benefits [Abstract]

Schedule of net periodic pension cost of non-U.S. plans

Net annual periodic benefit cost of the Company’s pension and postretirement benefit plans for fiscal 2024, fiscal 2023 and fiscal 2022 is presented in the following table:


	2024		2023		2022
Service cost	$	8,643	$	7,728	$	10,914
Interest cost	9,564		8,773		6,148
Expected return on plan assets	(5,061)		(5,236)		(4,540)


Recognized actuarial loss	1,345		1,168		2,299
Subtotal	$	14,491	$	12,433	$	14,821

Settlement impact	820		173		(35)

Net periodic benefit cost	$	15,311	$	12,606	$	14,786

Schedule of obligation and asset data of the company's non-US plans

Obligation and asset data of the Company’s pension and postretirement benefit plans at November 2, 2024 and October 28, 2023 is presented in the following table:


	2024		2023
Change in Benefit Obligation
Benefit obligation at beginning of year	$	167,868	$	157,730
Service cost	8,643		7,728
Interest cost	9,564		8,773

Plan combinations	23,349		(3,880)


Settlement	(13,240)		(1,887)


Actuarial gain	5,438		574
Benefits paid	(3,152)		(6,352)
Exchange rate adjustment	4,309		5,182
Benefit obligation at end of year	$	202,779	$	167,868
Change in Plan Assets
Fair value of plan assets at beginning of year	$	87,606	$	84,029
Actual return on plan assets	9,479		(2,831)
Employer contributions	10,273		10,811
Plan combinations	4,602		—

Settlements	(13,240)		(1,887)

Benefits paid	(3,152)		(6,352)

Exchange rate adjustment	3,080		3,836
Fair value of plan assets at end of year	$	98,648	$	87,606
Reconciliation of Funded Status
Funded status	$	(104,131)	$	(80,262)
Amounts Recognized in the Balance Sheet
Non-current assets	$	6,111	$	—

Current liabilities	(3,254)		(4,222)
Non-current liabilities	(106,988)		(76,040)
Net amount recognized	$	(104,131)	$	(80,262)


	2024		2023
Reconciliation of Amounts Recognized in the Statement of Financial Position


Net loss	(25,961)		(12,331)
Accumulated other comprehensive loss	(25,961)		(12,331)
Accumulated contributions less than net periodic benefit cost	(78,170)		(67,931)
Net amount recognized	$	(104,131)	$	(80,262)
Changes Recognized in Other Comprehensive Income (Loss)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss)

Net gain/loss arising during the year	$	1,019	$	8,876
Plan combinations	13,413		—
Effect of exchange rates on amounts included in AOCI	1,363		(536)
Amounts recognized as a component of net periodic benefit cost


Amortization or settlement recognition of net loss	(2,165)		(1,340)
Total recognized in other comprehensive gain/loss	$	13,630	$	7,000
Total recognized in net periodic cost and other comprehensive loss	$	28,941	$	19,606
Estimated amounts that will be amortized from AOCI over the next fiscal year



Net loss	$	(2,148)	$	(1,281)

Schedule of accumulated and projected benefit obligation in excess of plan assets


	2024		2023
Plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation	$	155,777	$	169,356
Fair value of plan assets	$	43,944	$	87,606
Plans with accumulated benefit obligations in excess of plan assets:
Projected benefit obligation	$	76,867	$	112,200
Accumulated benefit obligation	$	54,675	$	98,477
Fair value of plan assets	$	5,777	$	45,555

Schedule of weighted average assumptions used

The projected benefit obligation was determined using the following weighted-average assumptions:


	2024		2023
Discount rate	5.20	%	5.73	%
Rate of increase in compensation levels	5.23	%	4.34	%

Net annual periodic benefit cost was determined using the following weighted average assumptions:


	2024		2023
Discount rate	5.73	%	5.44	%
Expected long-term return on plan assets	5.69	%	5.84	%
Rate of increase in compensation levels	4.34	%	4.08	%

Schedule of plan assets measured at fair value on a recurring basis by investment categories


	November 2, 2024				October 28, 2023
	Fair Value Measurement at Reporting Date Using:				Fair Value Measurement at Reporting Date Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Unit trust funds(1)	$	—	$	7,264		$	7,264	$	—	$	4,803	$	4,803
Equities(1)	6,675		—			6,675		7,851		8,375		16,226
Fixed income securities(2)	—		24,013			24,013		—		29,020		29,020
Property (3)	—		4,446			4,446		—		4,624		4,624
Investment Funds (4)	—		47,282			47,282		—		22,933		22,933
Pooled Funds (5)	—		4,582			4,582		—		—		—
Cash and cash equivalents	4,386		—			4,386		10,000		—		10,000
Total assets measured at fair value	$	11,061	$	87,587		$	98,648	$	17,851	$	69,755	$	87,606

_______________________________________

(5)Consists of a fund-based variable insurance policy that declares a fixed return on a quarterly or annual basis. The fair value is the estimated surrender value of the policy.

Schedule of expected company contributions and estimated future benefit payments

Expected fiscal 2025 Company contributions and estimated future benefit payments are as follows:


Expected Company Contributions
2025	$	10,773
Expected Benefit Payments

2025	$	6,793
2026	$	5,632
2027	$	6,853
2028	$	8,029
2029	$	9,017
2030 through 2034	$	64,282

Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Inventories
Raw materials	$ 93,608	$ 128,142
Work in process	1,047,022	1,125,819
Finished goods	307,057	388,253
Total inventories	$ 1,447,687	$ 1,642,214

Debt

12 Months Ended

Nov. 02, 2024

Debt Disclosure [Abstract]

Debt

On December 14, 2015, the Company issued $850.0 million aggregate principal amount of 3.9% senior unsecured notes due December 15, 2025 (the December 2025 Notes) and $400.0 million aggregate principal amount of 5.3% senior unsecured notes due December 15, 2045 (the 2045 Notes) with semi-annual fixed interest payments due on June 15 and December 15 of each year, commencing June 15, 2016. The net proceeds of the offering were $1.2 billion, after discounts and issuance costs. Debt discounts and issuance costs will be amortized through interest expense over the term of the 2045 Notes. The 2045 Notes are subordinated to any future secured debt and to the other liabilities of the Company’s subsidiaries. The 2045 Notes were issued pursuant to a base indenture (the ADI Base Indenture) between the Company and The Bank of New York Mellon Trust Company as trustee, as supplemented by a supplemental indenture, which contain certain covenants, events of default and other customary provisions. The covenants applicable to the 2045 Notes limit the Company’s ability to incur, create, assume or guarantee any debt secured by a lien upon a principal property; enter into sale and lease-back transactions with respect to a principal property; and consolidate with or merge into, or transfer or lease all or substantially all of its assets to, any other party. As of November 2, 2024, the Company was in compliance with these covenants.

On December 5, 2016, the Company issued $400.0 million aggregate principal amount of 2.5% senior unsecured notes due December 5, 2021 (the 2021 Notes), $550.0 million aggregate principal amount of 3.125% senior unsecured notes due December 5, 2023 (the December 2023 Notes), $900.0 million aggregate principal amount of 3.5% senior unsecured notes due December 5, 2026 (the 2026 Notes) and $250.0 million aggregate principal amount of 4.5% senior unsecured notes due December 5, 2036 (the 2036 Notes) with semi-annual fixed interest payments due on June 5 and December 5 of each year, commencing June 5, 2017. The net proceeds of the offering were $2.1 billion, after discounts and issuance costs. On October 5, 2021, (i) $71.2 million, or 17.80%, of the $400.0 million aggregate principal amount of the 2021 Notes at a price of $1,001.77 for each $1,000 principal amount of 2021 Notes, (ii) $282.7 million, or 51.41%, of the $550.0 million aggregate principal amount of the December 2023 Notes at a price of $1,053.78 for each $1,000 principal amount of December 2023 Notes and (iii) $105.7 million, or 42.29%, of the $250.0 million aggregate principal amount of the 2036 Notes at a price of $1,239.96 for each $1,000 principal amount of 2036 Notes were tendered for redemption. On October 20, 2021, the remaining 2021 Notes and December 2023 Notes were redeemed for cash at a redemption price equal to $1,000.98 for each $1,000 principal amount of 2021 Notes and $1,050.17 for each $1,000 principal amount of December 2023 Notes. Debt discounts and issuance costs will be amortized through interest expense over the term of the respective notes. The 2026 Notes and 2036 Notes rank without preference or priority among themselves and equally in right of payment with all other existing and future senior unsecured debt and senior in right of payment to all of the Company’s future subordinated debt. The 2026 Notes and 2036 Notes were issued pursuant to the ADI Base Indenture, as supplemented by a supplemental indenture, which contain covenants similar to those applicable to the 2045 Notes, events of default and other customary provisions. As of November 2, 2024, the Company was in compliance with these covenants.

On April 8, 2020, in an underwritten public offering of green bonds, the Company issued $400.0 million aggregate principal amount of 2.95% senior unsecured notes due April 1, 2025 (the April 2025 Notes), with semi-annual fixed interest payments due on April 1 and October 1 of each year, commencing on October 1, 2020. The Company used the net proceeds of $395.6 million from the green bond offering to finance or refinance new and existing eligible projects involving renewable energy, green buildings, and eco-efficient products, production technologies and processes. Debt discounts and underwriting fees will be amortized through interest expense over the term of the April 2025 Notes. At any time prior to March 1, 2025, the Company may, at its option, redeem some or all of the April 2025 Notes at a redemption price equal to the greater of 100% of the principal amount of the April 2025 Notes being redeemed and the make-whole premium, plus accrued and unpaid interest on the April 2025 Notes being redeemed, if any, to but excluding the date of redemption. The April 2025 Notes are unsecured and rank equally in right of payment with all of the Company’s other existing and future unsecured senior indebtedness. The April 2025 Notes were issued pursuant to the ADI Base Indenture, as supplemented by a supplemental indenture, which contain covenants similar to those applicable to the 2045 Notes, events of default and other customary provisions. As of November 2, 2024, the Company was in compliance with these covenants.

In conjunction with the Acquisition, $500.0 million aggregate principal amount of Maxim’s 3.375% senior unsecured and unsubordinated notes due March 15, 2023 (the Maxim 2023 Notes) and $500.0 million aggregate principal amount of Maxim’s 3.45% senior unsecured and unsubordinated notes due June 15, 2027 (the Maxim 2027 Notes), were recognized by the Company at fair value as of the Acquisition Date. In November 2021 (fiscal 2022), the Maxim 2023 Notes were redeemed for cash.

On October 5, 2021, in an underwritten public offering, the Company issued $500.0 million aggregate principal amount of floating rate senior notes due October 1, 2024 (the Floating Rate Notes), $750.0 million aggregate principal amount of 1.7% sustainability-linked senior notes due October 1, 2028 (the Sustainability-Linked Senior Notes), $1.0 billion aggregate principal amount of 2.1% senior notes due October 1, 2031 (the 2031 Notes), $750.0 million aggregate principal amount of 2.8% senior notes due October 1, 2041 (the 2041 Notes), and $1.0 billion aggregate principal amount of 2.95% senior notes due October 1, 2051 (the 2051 Notes, and, together with the Floating Rate Notes, the Sustainability-Linked Senior Notes, the 2031 Notes and the 2041 Notes, the Notes). The Floating Rate Notes bore interest at a floating annual rate equal to a benchmark rate, which initially is Compounded SOFR (as defined in the supplemental indenture governing such notes) plus 25 basis points. On October 1, 2024 the Floating Rate Notes were paid in full at maturity. The Sustainability-Linked Senior Notes initially bear interest at a rate of 1.7% per annum and are subject to an increase of an additional 30 basis points from April 1, 2026 to the maturity date unless the Sustainability Performance Target (as defined in the Sustainability-Linked Senior Notes) has been satisfied. Semi-annual fixed interest payments on the Sustainability-Linked Senior Notes, the 2031 Notes, the 2041 Notes and the 2051 Notes are due on April 1 and October 1 of each year, beginning on April 1, 2022.

At any time prior to August 1, 2028 in the case of the Sustainability-Linked Senior Notes, July 1, 2031 in the case of the 2031 Notes, April 1, 2041 in the case of the 2041 Notes and April 1, 2051 in the case of the 2051 Notes (each, a Par Call Date), the Company may, at its option, redeem some or all of the applicable series of Notes at a redemption price equal to the greater of (i) 100% of the principal amount of such series of Notes being redeemed and (ii) the make-whole redemption price (as described in the supplemental indenture governing such notes). On and after the applicable Par Call Date, the Company may, at its option, redeem some or all of the applicable series of Notes at a redemption price equal to 100% of the principal amount of the Notes being redeemed. In each case, the Company will also pay the accrued and unpaid interest on the Notes being redeemed to, but excluding, the date of redemption. The Notes are unsecured and rank equally in right of payment with all of the Company’s other existing and future unsecured senior indebtedness. Debt discounts and issuance costs will be amortized through interest expense over the term of the respective Notes. The Notes were issued pursuant to an indenture, as supplemented by a supplemental indenture, and the indenture and supplemental indenture contain certain covenants, events of default and other customary provisions. As of November 2, 2024, the Company was in compliance with these covenants.

On September 15, 2022, in an underwritten public offering, the Company issued $300.0 million aggregate principal amount of 4.250% senior notes due October 1, 2032 (the 2032 Notes) with semi-annual fixed interest payments due on April 1 and October 1 of each year, commencing April 1, 2023. The net proceeds of the offering were $296.1 million, after discounts and issuance costs. Prior to July 1, 2032 (three months prior to the maturity date), the Company may, at its option, redeem the 2032 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the notes matured on July 1, 2032) on a semi-annual basis at the Treasury Rate plus 20 basis points less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after July 1, 2032, the Company may, at its option, redeem the 2032 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2032 Notes being redeemed plus accrued and unpaid interest thereon to the redemption date. The 2032 Notes are unsecured and rank equally in right of payment with all of the Company’s other existing and future unsecured senior indebtedness. The 2032 Notes were issued pursuant to the ADI Base Indenture, as supplemented by a supplemental indenture, which contain covenants similar to those applicable to the 2045 Notes, events of default and other customary provisions. As of November 2, 2024, the Company was in compliance with these covenants.

On October 7, 2022, the Company completed an offer to exchange any and all outstanding Maxim 2027 Notes, for new 3.450% Senior Notes due June 15, 2027 to be issued by the Company (the Unregistered 2027 Notes) and cash. Pursuant to the exchange offer, $440.2 million aggregate principal amount of the Maxim 2027 Notes were tendered and subsequently accepted for exchange, and the Company retired and canceled all Maxim 2027 Notes accepted for exchange. In exchange for the tendered Maxim 2027 Notes, the Company issued approximately $440.2 million aggregate principal amount of Unregistered 2027 Notes pursuant to a private exchange offer exempt from, or not subject to, registration under the Securities Act of 1933, as amended (the Securities Act) and $0.5 million in cash. Following settlement of the exchange offer, $59.8 million aggregate principal amount of the Maxim 2027 Notes remained outstanding, The Unregistered 2027 Notes were issued pursuant to the ADI Base Indenture, as supplemented by a supplemental indenture, which contain certain covenants similar to those applicable to the 2045 Notes, events of default and other customary provisions. The Unregistered 2027 Notes bear interest at a rate of 3.450% per annum, with semi-annual fixed interest payments due on June 15 and December 15 of each year, commencing on December 15, 2022 and will mature on June 15, 2027. On April 26, 2023, the Company redeemed for cash the $59.8 million aggregate principal amount of Maxim 2027 Notes that remained outstanding at a redemption price equal to $1,012.55 for each $1,000 principal of the Maxim 2027 Notes and included accrued interest. On September 19, 2023, the Company completed a registered exchange offer in which the Company exchanged the Unregistered 2027 Notes for a like principal amount of new notes registered under the Securities Act with the same interest rates and maturity dates as the Unregistered 2027 Notes (the 2027 Notes). As of October 28, 2023, the Company was in compliance with the covenants contained in the indenture and supplemental indenture governing the 2027 Notes.

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 net proceeds of the CP Notes are used for general corporate purposes, including without limitation, repayment of indebtedness, stock repurchases, acquisitions, capital expenditures and working capital. As of November 2, 2024, the Company had $547.7 million of outstanding borrowings under the commercial paper program recorded in the Consolidated Balance Sheets. The carrying value of the outstanding CP Notes approximated fair value at November 2, 2024.

On April 3, 2024, in an underwritten public offering, the Company issued $550.0 million aggregate principal amount of

5.050% senior notes due April 1, 2034 (the 2034 Notes) with semi-annual fixed interest payments due on April 1 and October 1 of each year, commencing October 1, 2024. The net proceeds of the offering were $545.5 million, after discounts and issuance costs. Prior to January 1, 2034 (three months prior to the maturity date of the 2034 Notes), the Company may, at its option, redeem the 2034 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the 2034 Notes matured on January 1, 2034) on a semi-annual basis at the applicable treasury rate plus 15 basis points less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the 2034 Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after January 1, 2034, the Company may, at its option, redeem the 2034 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2034 Notes being redeemed plus accrued and unpaid interest thereon to the redemption date. The 2034 Notes are unsecured and rank equally in right of payment with all of the Company’s other existing and future unsecured senior indebtedness. The 2034 Notes were issued pursuant to the ADI Base Indenture, as supplemented by a supplemental indenture, which contain covenants similar to those applicable to the 2045 Notes, events of default and other customary provisions. As of November 2, 2024, the Company was in compliance with these covenants.

On April 3, 2024, in an underwritten public offering, the Company issued $550.0 million aggregate principal amount of 5.300% senior notes due April 1, 2054 (the 2054 Notes) with semi-annual fixed interest payments due on April 1 and October 1 of each year, commencing October 1, 2024. The net proceeds of the offering were $542.3 million, after discounts and issuance costs. Prior to October 1, 2053 (six months prior to the maturity date of the 2054 Notes), the Company may, at its option, redeem the 2054 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the 2054 Notes matured on October 1, 2053) on a semi-annual basis at the applicable treasury rate plus 15 basis points less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the 2054 Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after October 1, 2053, the Company may, at its option, redeem the 2054 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2054 Notes being redeemed plus accrued and unpaid interest thereon to the redemption date. The 2054 Notes are unsecured and rank equally in right of payment with all of the Company’s other existing and future unsecured senior indebtedness. The 2054 Notes were issued pursuant to the ADI Base Indenture, as supplemented by a supplemental indenture, which contain covenants similar to those applicable to the 2045 Notes, events of default and other customary provisions. As of November 2, 2024, the Company was in compliance with these covenants.

The Company’s debt consisted of the following as of November 2, 2024 and October 28, 2023:


	November 2, 2024				October 28, 2023
	Principal		Unamortized discounts, debt issuance costs and fair value adjustments		Principal		Unamortized discount and debt issuance costs

2025 Notes, due April 2025	$	—	$	—	$	400,000	$	1,261
2026 Notes, due December 2026	900,000		2,691		900,000		3,983

2027 Notes, due June 2027	440,212		(20,150)		440,212		(28,750)
2028 Notes, due October 2028	750,000		5,814		750,000		7,314
2031 Notes, due October 2031 (1)	1,000,000		46,450		1,000,000		92,599
2032 Notes, due October 2032	300,000		3,048		300,000		3,438
2034 Notes, due April 2034	550,000		4,211		—		—
2036 Notes, due December 2036	144,278		1,459		144,278		1,577
2041 Notes, due October 2041	750,000		11,503		750,000		12,190
2045 Notes, due December 2045	332,587		3,458		332,587		3,623
2051 Notes, due October 2051	1,000,000		16,757		1,000,000		17,385
2054 Notes, due April 2054	550,000		7,523		—		—
Total Long-Term Debt	6,717,077		82,764		6,017,077		114,620


2024 Notes, due October 2024	—		—		500,000		948
2025 Notes, due April 2025	400,000		364		—		—
Commercial paper notes	547,738		—		547,224		—
Total Current Debt	947,738		364		1,047,224		948
Total Debt	$	7,664,815	$	83,128	$	7,064,301	$	115,568

_________________________________

(1) Includes fair value adjustment related to interest rate swap related to outstanding debt. See Note 2i, Derivative Instruments and Hedge Agreements, for more information.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases - Future Minimum Cash Receipts (Details) $ in Thousands	Nov. 02, 2024 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2025	$ 15,231
2026	15,683
2027	16,153
2028	16,635
2029	16,886
Thereafter	12,480
Total future minimum cash receipts	$ 93,068

Valuation and Qualifying Accounts (Details) - Valuation Allowance for Deferred Tax Asset - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Accounts Receivable Reserves and Allowances:
Balance at Beginning of Period	$ 332,464	$ 339,105	$ 315,434
Additions (Reductions) Charged to Income Statement	10,615	(6,641)	29,737
Other	0	0	(6,066)
Balance at End of Period	$ 343,079	$ 332,464	$ 339,105

Stock-Based Compensation and Shareholders’ Equity - Share-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 262,710	$ 299,823	$ 323,487
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	31,233	36,703	36,773
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	109,011	116,354	121,298
Selling, marketing, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	114,638	143,789	133,900
Special charges, net
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 7,828	$ 2,977	$ 31,516

- 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

+ Details

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained earnings	Accumulated Other Comprehensive (Loss) Income
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	$ 2,748,561			2,748,561
Dividends declared and paid				(1,544,552)
Issuance of stock under stock plans (in shares)		2,701,000
Issuance of stock under stock plans		$ 449	33,438
Stock-based compensation expense			323,487
Other comprehensive (loss) income	(11,587)				(11,587)
Common stock repurchased (in shares)		(18,736,000)
Common stock repurchased		$ (3,123)	(3,073,892)
Ending balance (in shares) at Oct. 29, 2022		509,296,000
Ending balance at Oct. 29, 2022		$ 84,880	27,857,270	8,721,325	(198,152)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,314,579			3,314,579
Dividends declared and paid				(1,679,106)
Issuance of stock under stock plans (in shares)		3,440,000
Issuance of stock under stock plans		$ 574	118,034
Stock-based compensation expense			299,823
Other comprehensive (loss) income	$ 9,850				9,850
Common stock repurchased (in shares)		(16,474,000)
Common stock repurchased		$ (2,742)	(2,961,213)
Ending balance (in shares) at Oct. 28, 2023	496,261,678	496,262,000
Ending balance at Oct. 28, 2023	$ 35,565,122	$ 82,712	25,313,914	10,356,798	(188,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,635,273			1,635,273
Dividends declared and paid				(1,795,459)
Issuance of stock under stock plans (in shares)		3,216,000
Issuance of stock under stock plans		$ 536	120,679
Stock-based compensation expense			262,710
Other comprehensive (loss) income	$ 3,046				3,046
Common stock repurchased (in shares)		(3,181,000)
Common stock repurchased		$ (530)	(615,060)
Ending balance (in shares) at Nov. 02, 2024	496,296,854	496,297,000
Ending balance at Nov. 02, 2024	$ 35,176,317	$ 82,718	$ 25,082,243	$ 10,196,612	$ (185,256)