Cash equivalents and available-for-sale debt investments were as follows:


	As of April 30, 2026				As of October 31, 2025
	Cost		Gross Unrealized Gains		Fair Value		Cost		Gross Unrealized Gains		Fair Value
	In millions
Cash Equivalents



Time deposits	$	846	$	—	$	846	$	997	$	—	$	997
Money market funds	2,603		—		2,603		2,741		—		2,741
Total cash equivalents	3,449		—		3,449		3,738		—		3,738
Available-for-sale Investments
Debt Securities:








Foreign bonds	110		1		111		107		4		111
Other debt securities	41		3		44		44		2		46
Total debt securities	151		4		155		151		6		157
Equity Securities:

Equity securities in public companies	8		—		8		6		—		6
Mutual funds	61		—		61		59		—		59
Total equity securities	69		—		69		65		—		65
Total available-for-sale investments	220		4		224		216		6		222
Total cash equivalents and available-for-sale investments	$	3,669	$	4	$	3,673	$	3,954	$	6	$	3,960

As of April 30, 2026 and October 31, 2025, the carrying amount of cash equivalents approximated fair value due to the short period of time to maturity. Time deposits were primarily issued by institutions outside the U.S. as of April 30, 2026 and October 31, 2025. The estimated fair value of the available-for-sale debt investments may not be representative of values that will be realized in the future.

Contractual maturities of investments in available-for-sale debt securities were as follows:


	As of April 30, 2026
	Amortized Cost		Fair Value
	In millions
Due in one year	$	34	$	34
Due in one to five years	1		1
Due in more than five years	116		120
Total	$	151	$	155

Non-marketable equity investments in privately held companies are included in Long-term financing receivables and other assets in the Condensed Consolidated Balance Sheets. These non-marketable equity investments are carried at cost under measurement alternative and adjusted for impairments or observable price changes. The carrying amount of investments was $73 million and $61 million as of April 30, 2026 and October 31, 2025, respectively. For the three and six months ended April 30, 2026 and 2025, the Company recognized immaterial unrealized gains or losses that are reflected in Interest and other, net in the Condensed Consolidated Statement of Earnings.


	As of April 30, 2026										As of October 31, 2025
			Fair Value										Fair Value
	Outstanding Gross Notional		Other Current Assets		Long-Term Financing Receivables and Other Assets		Other Accrued Liabilities		Long-Term Other Liabilities		Outstanding Gross Notional		Other Current Assets		Long-Term Financing Receivables and Other Assets		Other Accrued Liabilities		Long-Term Other Liabilities
	In millions
Derivatives Designated as Hedging Instruments
Fair Value Hedges:
Interest rate contracts	$	1,200	$	—	$	—	$	—	$	58	$	600	$	—	$	—	$	—	$	51
Cash Flow Hedges:
Foreign currency contracts	7,610		62		27		113		74		7,062		81		29		95		67

Net Investment Hedges:
Foreign currency contracts	2,125		22		26		44		44		2,126		20		24		30		20
Total derivatives designated as hedging instruments	10,935		84		53		157		176		9,788		101		53		125		138
Derivatives Not Designated as Hedging Instruments
Foreign currency contracts	6,232		30		4		38		13		7,167		37		2		22		4
Other derivatives	146		9		—		—		—		153		2		—		—		—
Total derivatives not designated as hedging instruments	6,378		39		4		38		13		7,320		39		2		22		4
Total derivatives	$	17,313	$	123	$	57	$	195	$	189	$	17,108	$	140	$	55	$	147	$	142

The Company recognizes all derivative instruments on a gross basis in the Condensed Consolidated Balance Sheets. The Company's derivative instruments are subject to master netting arrangements and collateral security arrangements. The Company does not offset the fair value of its derivative instruments against the fair value of cash collateral posted under collateral security agreements. The information related to the potential effect of the Company's use of the master netting agreements and collateral security agreements were as follows:


	As of April 30, 2026
	In the Condensed Consolidated Balance Sheets
	(i)		(ii)		(iii) = (i)–(ii)		(iv)		(v)			(vi) = (iii)–(iv)–(v)
							Gross Amounts Not Offset
	Gross Amount Recognized		Gross Amount Offset		Net Amount Presented		Derivatives		Financial Collateral			Net Amount
	In millions
Derivative assets	$	180	$	—	$	180	$	144	$	6	(1)	$	30
Derivative liabilities	$	384	$	—	$	384	$	144	$	164	(2)	$	76


	As of October 31, 2025
	In the Condensed Consolidated Balance Sheets
	(i)		(ii)		(iii) = (i)–(ii)		(iv)		(v)			(vi) = (iii)–(iv)–(v)
							Gross Amounts Not Offset
	Gross Amount Recognized		Gross Amount Offset		Net Amount Presented		Derivatives		Financial Collateral			Net Amount
	In millions
Derivative assets	$	195	$	—	$	195	$	121	$	16	(1)	$	58
Derivative liabilities	$	289	$	—	$	289	$	121	$	136	(2)	$	32

(1)Represents the cash collateral posted by counterparties as of the respective reporting date for the Company's asset position, net of derivative amounts that could be offset, as of, generally, two business days prior to the respective reporting date.

(2)Represents the collateral posted by the Company in cash or through the re-use of counterparty cash collateral as of the respective reporting date for the Company's liability position, net of derivative amounts that could be offset, as of, generally, two business days prior to the respective reporting date. As of April 30, 2026, of the $164 million of collateral posted, $158 million was in cash and $6 million was through the re-use of counterparty collateral. As of October 31, 2025, of the $136 million of collateral posted, $120 million was in cash and $16 million was through the re-use of counterparty collateral.


	Carrying Amount of the Hedged Liabilities				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities
	As of				As of
	April 30, 2026		October 31, 2025		April 30, 2026		October 31, 2025
	In millions

Long-term debt	$	(1,345)	$	(754)	$	3	$	(4)


	Gains (Losses) Recognized in OCI on Derivatives
	For the three months ended April 30,				For the six months ended April 30,
	2026		2025		2026		2025
	In millions
Derivatives in Cash Flow Hedging Relationship:
Foreign exchange contracts	$	126	$	(465)	$	(65)	$	(195)


Derivatives in Net Investment Hedging Relationship:
Foreign exchange contracts	(108)		(64)		(49)		(21)
Total	$	18	$	(529)	$	(114)	$	(216)

As of April 30, 2026, the Company expects to reclassify an estimated net accumulated other comprehensive gain of approximately $15 million, net of taxes, to earnings in the next twelve months along with the earnings effects of the related forecasted transactions associated with cash flow hedges.

The following table represents the pre-tax effect of derivative instruments on total amounts of income and expense line items presented in the Condensed Consolidated Statements of Earnings in which the effects of fair value hedges and derivatives not designated as hedging instruments are recorded:


	Gains (Losses) Recognized in Income
	For the three months ended April 30,								For the six months ended April 30,
	2026				2025				2026				2025
	Net Revenue		Interest and Other, net		Net Revenue		Interest and Other, net		Net Revenue		Interest and Other, net		Net Revenue		Interest and Other, net
	In millions

Total net revenue and interest and other, net	$	10,678	$	(73)	$	7,627	$	39	$	19,979	$	(127)	$	15,481	$	78
Gains (Losses) on Derivatives in Fair Value Hedging Relationships:
Interest Rate Contracts
Hedged items	$	—	$	8	$	—	$	(15)	$	—	$	7	$	—	$	(30)
Derivatives designated as hedging instruments	—		(8)		—		15		—		(7)		—		30
Gains (Losses) on Derivatives in Cash Flow Hedging Relationships:
Foreign Exchange Contracts
Amount of gains (losses) reclassified from accumulated other comprehensive income into income	6		47		39		(283)		(4)		(81)		83		(113)
Interest Rate Locks
Amount of losses reclassified from accumulated other comprehensive income into income	—		—		—		—		—		—		—		(1)


Gains (Losses) on Derivatives not Designated as Hedging Instruments:
Foreign exchange contracts	—		59		—		(130)		—		(1)		—		(76)
Other derivatives	—		8		—		—		—		8		—		4
Total gains (losses)	$	6	$	114	$	39	$	(413)	$	(4)	$	(74)	$	83	$	(186)