v3.26.1
Fair Value
 9 Months Ended
Jul. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date.
The Company uses valuation techniques that are based upon observable and unobservable inputs. Observable inputs are developed using market data such as publicly available information and reflect the assumptions market participants would use, while unobservable inputs are developed using the best information available about the assumptions market participants would use.
The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis:
As of July 31, 2026As of October 31, 2025
Fair Value
Measured Using		Fair Value
Measured Using
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Remaining Inputs (Level 2)
Significant Other Unobservable Remaining Inputs
(Level 3)
Total
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Remaining Inputs (Level 2)
Significant Other Unobservable Remaining Inputs
(Level 3)
Total
In millions
Assets
Cash Equivalents:
Time deposits$— $928 $— $928 $— $997 $— $997 
Money market funds3,545 — — 3,545 2,741 — — 2,741 
Total cash equivalents3,545 928 — 4,473 2,741 997 — 3,738 
Available-for-sale Debt Investments:
Foreign bonds— 109 — 109 — 111 — 111 
Other debt securities(1)
— — 45 45 — — 46 46 
Total available-for-sale debt investments— 109 45 154 — 111 46 157 
Equity Investments:
Mutual funds— 58 — 58 — 59 — 59 
Equity securities in public companies5 — — 5 6 — — 6 
Total equity investments5 58 — 63 6 59 — 65 
Derivatives Instruments:
Foreign currency contracts— 180 — 180 — 193 — 193 
Other derivatives— 1 — 1 — 2 — 2 
Total assets3,550 1,276 45 4,871 2,747 1,362 46 4,155 
Liabilities
Derivatives Instruments:
Interest rate contracts— 77 — 77 — 51 — 51 
Foreign currency contracts— 265 — 265 — 238 — 238 
Other derivatives— 2 — 2 — — — — 
Total liabilities$— $344 $— $344 $— $289 $— $289 
(1) Available-for-sale debt securities with carrying values that approximate fair value.
Other Fair Value Disclosures
Short-Term and Long-Term Debt: As of July 31, 2026, the estimated fair value and carrying value of the Company's short-term and long-term debt was $19.9 billion and $20.2 billion, respectively. As of October 31, 2025, the estimated fair value and carrying value of the Company's short-term and long-term debt was $22.5 billion and $22.4 billion, respectively. If measured at fair value in the Condensed Consolidated Balance Sheets, short-term and long-term debt would be classified in Level 2 of the fair value hierarchy.
Other Financial Instruments: For the balance of the Company's financial instruments, primarily accounts receivable, accounts payable and financial liabilities included in other accrued liabilities, the carrying amounts approximate fair value due to their short-term nature. If measured at fair value in the Condensed Consolidated Balance Sheets, these other financial instruments would be classified in Level 2 or Level 3 of the fair value hierarchy.
Non-Recurring Fair Value Measurements
Equity Investments without Readily Determinable Fair Value: Equity investments are recorded at cost and adjusted for impairments or observable price changes.
Non-Financial Assets: The Company's non-financial assets, such as intangible assets, goodwill, and property, plant and equipment, are recorded at cost. The Company records right-of-use assets based on the lease liability, adjusted for lease prepayments, lease incentives received, and the lessee's initial direct costs. Fair value adjustments are made to these non-financial assets in the period an impairment charge is recognized.
In the second quarter of fiscal 2025, the Company recorded a goodwill impairment charge of $1.4 billion associated with the Cloud & AI (excluding Financial Services) reporting unit. The fair values of the Company's reporting units were classified in Level 3 of the fair value hierarchy due to the significance of unobservable inputs developed using company-specific information.