FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Aug. 02, 2026

The fair values of financial instruments that do not approximate the carrying values are presented in the table below. Long-term borrowings exclude finance lease liabilities.


	August 2, 2026				November 2, 2025				July 27, 2025
	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Financing receivables – net	$	42,860	$	42,793	$	44,575	$	44,779	$	43,930	$	44,036
Financing receivables securitized – net		6,316		6,293		6,831		6,855		7,948		7,928
Receivables from unconsolidated affiliates		271		272		392		400		515		522
Short-term securitization borrowings		6,095		6,103		6,596		6,631		7,610		7,637
Long-term borrowings due within one year		9,659		9,698		8,888		8,911		8,550		8,556
Long-term borrowings		40,549		39,916		43,471		43,527		44,358		44,034

Fair value measurements above were Level 3 for all receivables and Level 2 for all borrowings.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, excluding our cash equivalents, which were carried at a cost that approximates fair value and consist of money market funds and time deposits, and excluding our held-to-maturity marketable securities, are as follows:


	August 2		November 2		July 27
	2026		2025		2025
Level 1:
Marketable securities
U.S. government debt securities	$	251	$	196	$	229
Total Level 1 marketable securities		251		196		229

Level 2:
Marketable securities
International fixed income fund		8		7		7
Corporate debt securities		501		510		477
International debt securities		127		174		195
Mortgage-backed securities		209		234		223
Municipal debt securities		105		113		102
U.S. government debt securities		110		117		112
Total Level 2 marketable securities		1,060		1,155		1,116
Other assets – Derivatives		207		393		370
Accounts payable and accrued expenses – Derivatives		528		389		517

Level 3:
Accounts payable and accrued expenses – Deferred consideration		94		113		121

The mortgage-backed securities are primarily issued by U.S. government sponsored enterprises.

Contractual Maturities of Available-for-Sale Debt Securities

The contractual maturities of available-for-sale debt securities at August 2, 2026, follow:


	Amortized		Fair
	Cost		Value
Due in one year or less	$	30	$	29
Due after one through five years		381		375
Due after five through 10 years		554		528
Due after 10 years		187		162
Mortgage-backed securities		236		209
Debt securities	$	1,388	$	1,303

Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Mortgage-backed securities contain prepayment provisions and are not categorized by contractual maturity.

Fair Value, Nonrecurring Level 3 Measurements from Impairments and Other Adjustments

Fair value, nonrecurring Level 3 measurements from impairments and other adjustments were as follows:


	Fair Value					Losses (Gains)
						Three Months Ended			Nine Months Ended
	August 2	November 2		July 27		August 2	July 27		August 2	July 27
	2026	2025		2025		2026	2025		2026	2025²
Property and equipment – net¹		$	1	$	1		$	8		$	8
Other intangible assets – net¹			3		3			53			53
Other assets			8
Assets held for sale											(32)

¹ Fair values at November 2, 2025, and July 27, 2025, are related to an assessment of our external overseas battery operations performed in the third quarter of 2025.

² The gain on “Assets held for sale” recorded in the first quarter of 2025 represents a reversal of prior period valuation allowance loss, not in excess of the cumulative valuation allowance recorded on “Assets held for sale.”