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DEBT
 6 Months Ended
Apr. 30, 2026
Debt Disclosure [Abstract]  
DEBT
10.    DEBT
The following table summarizes the components of our debt:
April 30, 2026October 31, 2025
(in millions, except percentages)
2027 Senior Notes at 4.60% ($700 face amount less unamortized costs of $1 and $1)
$699 $699 
2029 Senior Notes at 3.00% ($500 face amount less unamortized costs of $1 and $2)
499 498 
2030 Senior Notes at 5.35% ($750 face amount less unamortized costs of $7 and $7)
743 743 
2034 Senior Notes at 4.95% ($600 face amount less unamortized costs of $6 and $6), net of hedge accounting fair value adjustments of $4 and zero
590 594 
Total debt2,531 2,534 
Less: Current portion of long-term debt699 — 
Long-Term Debt $1,832 $2,534 
        
Senior Notes
There have been no changes to the principal, maturity, interest rates, and interest payment terms of our senior notes during the six months ended April 30, 2026 as compared to the senior notes described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2025.
The fair value of our debt, calculated from quoted prices that are Level 1 inputs under the authoritative accounting guidance fair value hierarchy, is approximately $2,545 million and $2,565 million as of April 30, 2026 and October 31, 2025, respectively.
Revolving Credit Facility
On April 21, 2026, we entered into a new credit agreement (the “Revolving Credit Facility”) that amended and restated our existing credit agreement dated July 30, 2021 (the “2021 Revolving Credit Facility”) in its entirety and provides for a $750 million five-year unsecured revolving credit facility that will expire on April 21, 2031. In addition, the Revolving Credit
Facility permits the company, subject to certain customary conditions, on one or more occasions to request to increase the total commitments under the Revolving Credit Facility by up to $350 million in the aggregate. We are obligated to pay an annual facility fee of 0.09 percent for the Revolver Credit Facility. Borrowings under the Revolving Credit Facility in U.S. Dollars bear interest at a rate equal to, at our option, (a) Term Benchmark Rate (primarily Secured Overnight Financing Rate or “SOFR”) plus a margin of 0.91 percent, or (b) higher of (1) the prime rate, (2) the New York Federal Reserve Bank rate plus 0.5 percent, or (3) SOFR plus 1 percent. We may use amounts borrowed under the Revolving Credit Facility for general corporate purposes. As of April 30, 2026, we had no borrowings outstanding under the Revolving Credit Facility. We were in compliance with the covenants of the 2021 Revolving Credit Facility until it was replaced on April 21, 2026, and with the covenants of the Revolving Credit Facility for the period between April 21 and April 30, 2026.
Letters of Credit
As of April 30, 2026 and October 31, 2025, we had $62 million and $60 million, respectively, of outstanding standby letters of credit, customs bonds, and surety bonds.