Leases

12 Months Ended

Nov. 01, 2020

Leases [Abstract]

Leases

We have entered into operating and finance leases for our facilities, data centers and certain equipment. Operating lease expense was $106 million, $244 million and $233 million for fiscal years 2020, 2019 and 2018, respectively. Finance lease expense was $14 million for fiscal year 2020.

Other information related to leases was as follows:

	Fiscal Year Ended
	November 1, 2020
	(In millions)
Cash paid for operating leases included in operating cash flows	$	125
ROU assets obtained in exchange for operating lease liabilities	$	682
ROU assets obtained in exchange for finance lease liabilities	$	74
	November 1, 2020
Weighted-average remaining lease term – operating leases (In years)	10
Weighted-average remaining lease term – finance leases (In years)	4
Weighted-average discount rate – operating leases	3.80		%
Weighted-average discount rate – finance leases	3.33		%

Supplemental balance sheet information related to leases was as follows:

	Classification on the Consolidated Balance Sheet	November 1, 2020
		(In millions)
ROU assets - operating leases	Other long-term assets	$	589
ROU assets - finance leases	Property, plant and equipment, net	$	62
Short-term lease liabilities - operating leases	Other current liabilities	$	100
Long-term lease liabilities - operating leases	Other long-term liabilities	$	527
Short-term lease liabilities - finance leases	Current portion of long-term debt	$	20
Long-term lease liabilities - finance leases	Long-term debt	$	48

The maturities of lease liabilities were as follows:

	November 1, 2020
	Operating Leases		Finance Leases
	(In millions)
2021	$	120	$	21
2022	94		17
2023	84		17
2024	65		17
2025	54		—
Thereafter	356		—
Total undiscounted liabilities	773		72
Less: interest	(146)		(4)
Present value of lease liabilities	$	627	$	68

As of November 3, 2019, future minimum lease payments under non-cancelable lease liabilities prior to our adoption of Topic 842 were as follows:

	November 3, 2019
	(In millions)
2020	$	115
2021	99
2022	80
2023	69
2024	47
Thereafter	390
Total minimum lease payments	$	800