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DEBT
 9 Months Ended
Jul. 31, 2026
Debt Disclosure [Abstract]  
DEBT
10.    DEBT
The following table summarizes the components of our debt:
July 31, 2026October 31, 2025
(in millions, except percentages)
2027 Senior Notes at 4.60% ($700 face amount less unamortized costs of zero and $1)
$700 $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 $5 and $6), net of hedge accounting fair value adjustments of $20 and zero
575 594 
Total debt2,517 2,534 
Less: Current portion of long-term debt700 — 
Long-term debt $1,817 $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 nine months ended July 31, 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 $2,513 million and $2,565 million as of July 31, 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) the 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 July 31, 2026, we had no borrowings outstanding under the Revolving Credit Facility and were in compliance with its covenants.
Letters of Credit
As of July 31, 2026 and October 31, 2025, we had $54 million and $60 million, respectively, of outstanding standby letters of credit, customs bonds, and surety bonds.