MARKETABLE SECURITIES

12 Months Ended

Oct. 29, 2023

MARKETABLE SECURITIES

MARKETABLE SECURITIES

10. MARKETABLE SECURITIES

Most marketable securities are classified as available-for-sale. Realized gains or losses are based on specific identification.

The amortized cost and fair value of marketable securities at the end of 2023 and 2022 follow:

			Gross	Gross
	Amortized		Unrealized	Unrealized		Fair
	Cost		Gains	Losses		Value
2023
International equity securities						$	3
International mutual funds securities							101
U.S. equity fund							86
U.S. fixed income fund							32
Total equity securities							222
Corporate debt securities	$	285		$	41		244
International debt securities		5			4		1
Mortgage-backed securities*		225			40		185
Municipal debt securities		87			12		75
U.S. government debt securities		260			41		219
Total debt securities	$	862		$	138		724
Marketable securities						$	946
2022
International equity securities						$	3
U.S. equity fund							70
Total equity securities							73
Corporate debt securities	$	236		$	36		200
International debt securities		64			4		60
Mortgage-backed securities*		186			31		155
Municipal debt securities		74			11		63
U.S. government debt securities		220			37		183
Total debt securities	$	780		$	119		661
Marketable securities						$	734

*       Primarily issued by U.S. government sponsored enterprises.

The purchases, maturities, and sale proceeds for marketable securities during 2023, 2022, and 2021 follow:

	2023		2022		2021
Purchases	$	491	$	250	$	194
Maturities and sale proceeds		186		79		109

Equity Securities

Proceeds of equity securities sold during 2023, 2022, and 2021 were not material. Unrealized gain (loss) on equity securities during 2023 and 2022 follow:

	2023		2022
Net gain (loss) recognized on equity securities			$	(11)
Less: Net gain (loss) on equity securities sold	$	(1)
Unrealized gain (loss) on equity securities	$	1	$	(11)

Debt Securities

The contractual maturities of debt securities at October 29, 2023 follow:

	Amortized		Fair
	Cost		Value
Due in one year or less	$	20	$	19
Due after one through five years		147		136
Due after five through 10 years		249		214
Due after 10 years		221		170
Mortgage-backed securities		225		185
Debt securities	$	862	$	724

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.

The following debt security items were not material in 2023, 2022, and 2021:

● realized gains,

● realized losses, and

● unrealized losses that have been continuous for over twelve months.

Unrealized losses at October 29, 2023 and October 30, 2022 were not recognized in income due to the ability and intent to hold to maturity. There were no significant impairment write-downs in the periods reported.