Cash equivalents included $4,003 million and $3,163 million of time deposits and $2,801 million and $2,239 million of money-market funds as of May 3, 2026 and November 2, 2025, respectively. For time deposits, carrying value approximates fair value due to the short-term nature of the instruments. The fair value of money-market funds, which was consistent with their carrying value, was determined using unadjusted prices in active, accessible markets for identical assets, and as such, they were classified as Level 1 assets in the fair value hierarchy.

As of May 3, 2026, cash equivalents also included $2,985 million of U.S. Treasury Bills which were carried at fair value. Due to the short-term nature of the instruments, their amortized cost approximates fair value. As of May 3, 2026, $995 million and $1,990 million of the U.S. Treasury Bills were classified as Level 1 assets and Level 2 assets in the fair value hierarchy, respectively, depending on whether the instruments were traded in active or less active markets.

We sell certain of our trade accounts receivable on a non-recourse basis to third-party financial institutions pursuant to factoring arrangements. We account for these transactions as sales of receivables and present cash proceeds as cash provided by operating activities in the condensed consolidated statements of cash flows. Total trade accounts receivable sold under the factoring arrangements were $600 million and $2,350 million during the fiscal quarter and two fiscal quarters ended May 3, 2026, respectively, and $1,750 million and $3,951 million during the fiscal quarter and two fiscal quarters ended May 4, 2025, respectively.


	May 3, 2026		November 2, 2025

	(In millions)
Finished goods	$	1,858	$	682
Work-in-process	1,801		1,280
Raw materials	669		308
Total inventory	$	4,328	$	2,270

Other Current Assets


	May 3, 2026		November 2, 2025

	(In millions)
Current portion of contract assets	$	5,918	$	5,005
Prepaid expenses	1,140		518
Other	369		457
Total other current assets	$	7,427	$	5,980

Other Current Liabilities


	May 3, 2026		November 2, 2025

	(In millions)
Contract liabilities	$	10,038	$	9,469
Tax liabilities	1,217		921
Interest payable	656		620
Other	1,228		663
Total other current liabilities	$	13,139	$	11,673

Other Long-Term Liabilities


	May 3, 2026		November 2, 2025

	(In millions)
Contract liabilities	$	4,204	$	3,547
Unrecognized tax benefits	1,662		1,628
Deferred tax liabilities	1,615		2,704
Other	2,469		1,423
Total other long-term liabilities	$	9,950	$	9,302


	Fiscal Quarter Ended				Two Fiscal Quarters Ended
	May 3, 2026		May 4, 2025		May 3, 2026		May 4, 2025

	(In millions)
Cash paid for interest	$	695	$	700	$	1,314	$	1,371
Cash paid for income taxes	$	1,099	$	608	$	1,881	$	1,012