v3.26.1
Fair Value (Tables)
 9 Months Ended
Aug. 01, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities
The tables below, set forth by level, present the Company’s financial assets and liabilities, excluding accrued interest components that were accounted for at fair value on a recurring basis as of August 1, 2026 and November 1, 2025. 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 August 1, 2026 and November 1, 2025, the Company held $1.1 billion and $1.4 billion, respectively, of cash that is excluded from the tables below.
August 1, 2026
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$715,175 $— $715,175 
Corporate obligations (1)— 338,091 338,091 
Short-term investments:
Available-for-sale:
Corporate obligations (1)
— 159,064 159,064 
Other assets:
Forward foreign currency exchange contracts (2)— 7,256 7,256 
Deferred compensation plan investments128,158 — 128,158 
Total assets measured at fair value$843,333 $504,411 $1,347,744 
Liabilities
Forward foreign currency exchange contracts (2)$— $10,535 $10,535 
Interest rate derivatives (3)— 42,478 42,478 
Total liabilities measured at fair value$— $53,013 $53,013 
(1)The amortized cost of the Company’s investments classified as available-for-sale as of August 1, 2026 was $498.3 million.
(2)The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 8, Derivatives, in these Notes to Condensed 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 8, Derivatives, in these Notes to Condensed Consolidated Financial Statements.
November 1, 2025
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$740,730 $— $740,730 
Corporate obligations (1)— 397,707 397,707 
Short-term investments (2):
Available-for-sale:
Corporate obligations (1)— 656,839 656,839 
Bank obligations (1)— 496,076 496,076 
Other assets:
Forward foreign currency exchange contracts (3)— 6,708 6,708 
Deferred compensation plan investments105,188 — 105,188 
Total assets measured at fair value$845,918 $1,557,330 $2,403,248 
Liabilities
Forward foreign currency exchange contracts (3)$— $7,975 $7,975 
Interest rate derivatives (4)— 12,550 12,550 
Total liabilities measured at fair value$— $20,525 $20,525 
(1)The amortized cost of the Company’s investments classified as available-for-sale as of November 1, 2025 was $1.6 billion.
(2)Available-for-sale securities are classified as current assets on the Condensed Consolidated Balance Sheets if the securities are available to be converted into cash to fund current operations.
(3)The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 8, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company’s master netting arrangements.
(4)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 8, Derivatives, in these Notes to Condensed Consolidated Financial Statements.
Schedule of Debt The table below presents the estimated fair values 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 ($1.0 billion and $0.4 billion as of August 1, 2026 and November 1, 2025, 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.
August 1, 2026November 1, 2025
Principal Amount OutstandingFair Value Principal Amount Outstanding Fair Value
2026 Notes, due December 2026900,000 897,938 900,000 895,623 
2027 Notes, due June 2027440,212 437,134 440,212 436,916 
2028 Notes, due June 2028850,000 846,187 850,000 856,345 
2028 Notes, due October 2028750,000 705,821 750,000 704,186 
2030 Notes, due June 2030650,000 643,874 650,000 659,834 
2031 Notes, due October 20311,000,000 872,143 1,000,000 884,390 
2032 Notes, due October 2032300,000 294,449 300,000 301,546 
2034 Notes, due April 2034550,000 544,285 550,000 571,370 
2036 Notes, due December 2036144,278 134,210 144,278 138,756 
2041 Notes, due October 2041750,000 523,880 750,000 555,925 
2045 Notes, due December 2045332,587 304,327 332,587 327,992 
2051 Notes, due October 20511,000,000 603,881 1,000,000 662,609 
2054 Notes, due April 2054550,000 496,578 550,000 541,087 
Total senior unsecured notes
$8,217,077 $7,304,707 $8,217,077 $7,536,579