LONG-TERM BORROWINGS (Tables)

12 Months Ended

Oct. 29, 2023

LONG-TERM BORROWINGS

Long-Term Borrowings

Long-term borrowings at the end of 2023 and 2022 consisted of:

	2023		2022
Underwritten term debt
U.S. dollar notes and debentures:
2.75% notes due 2025	$	700	$	700
6.55% debentures due 2028		200		200
5.375% notes due 2029		500		500
3.10% notes due 2030		700		700
8.10% debentures due 2030		250		250
7.125% notes due 2031		300		300
3.90% notes due 2042		1,250		1,250
2.875% notes due 2049		500		500
3.75% notes due 2050		850		850
Euro notes:
1.375% notes due 2024 (€800 principal)				797
1.85% notes due 2028 (€600 principal)		634		598
2.20% notes due 2032 (€600 principal)		634		598
1.65% notes due 2039 (€650 principal)		687		648
Serial issuances
Medium-term notes		29,638		24,604
Other notes and finance lease obligations		1,769		1,223
Less: debt issuance costs and debt discounts		(135)		(122)
Long-term borrowings	$	38,477	$	33,596

Medium-term notes due through 2033 are offered by prospectus. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other. The outstanding principal and average interest rates at the end of 2023 and 2022 follow:

	2023		2022
Medium-term notes:
Principal	$	30,902	$	25,629
Average interest rates		4.9%		2.9%