v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Aug. 02, 2026
FAIR VALUE MEASUREMENTS  
Fair Values of Financial Instruments

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.”