XML 47 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholders' Equity, Comprehensive Income and Share-Based Compensation (Tables)
 3 Months Ended
Jan. 27, 2019
Equity [Abstract]  
Components of accumulated other comprehensive loss, after-tax basis
Changes in the components of AOCI, net of tax, were as follows:
 
 
Unrealized Gain on Investments, Net
 
Unrealized Gain (Loss) on Derivative Instruments Qualifying as Cash Flow Hedges
 
Defined and Postretirement Benefit Plans
 
Cumulative Translation Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
(in millions)
Balance as of October 28, 2018
$
7

 
$
(9
)
 
$
(137
)
 
$
14

 
$
(125
)
 Adoption of new accounting standards (a)
(17
)
 
—

 
—

 
—

 
(17
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
5

 
(12
)
 
—

 
—

 
(7
)
   Amounts reclassified out of AOCI
—

 
(5
)
 
—

 
—

 
(5
)
Other comprehensive income (loss), net of tax
5

 
(17
)
 
—

 
—

 
(12
)
 
 
 
 
 
 
 
 
 
 
Balance as of January 27, 2019
$
(5
)
 
$
(26
)
 
$
(137
)
 
$
14

 
$
(154
)

(a) - Represents the reclassification adjustment related to the adoption of Accounting Standard Update (ASU) 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities in the first quarter of fiscal 2019. See Note 1.
 
Unrealized Gain (Loss) on Investments, Net
 
Unrealized Gain (Loss) on Derivative Instruments Qualifying as Cash Flow Hedges
 
Defined and Postretirement Benefit Plans
 
Cumulative Translation Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
(in millions)
Balance as of October 29, 2017
$
53

 
$
(11
)
 
$
(120
)
 
$
14

 
$
(64
)
Other comprehensive income (loss) before reclassifications
6

 
(14
)
 
—

 
—

 
(8
)
Amounts reclassified out of AOCI
—

 
(5
)
 
(2
)
 
—

 
(7
)
Other comprehensive income (loss), net of tax
6

 
(19
)
 
(2
)
 
—

 
(15
)
Balance as of January 28, 2018
$
59

 
$
(30
)
 
$
(122
)
 
$
14

 
$
(79
)
Summary of stock repurchases
The following table summarizes Applied’s stock repurchases for the three months ended January 27, 2019 and January 28, 2018:
 
Three Months Ended
 
January 27,
2019
 
January 28,
2018
 
 
 
 
 
(in millions, except per share amount)
Shares of common stock repurchased
22

 
15

Cost of stock repurchased
$
750

 
$
782

Average price paid per share
$
34.04

 
$
53.41
Effect of share-based compensation on the results of operations
The effect of share-based compensation on the results of operations was as follows:
 
 
Three Months Ended
 
January 27,
2019
 
January 28,
2018
 
 
 
 
 
(In millions)
Cost of products sold
$
22

 
$
22

Research, development and engineering
24

 
24

Marketing and selling
8

 
8

General and administrative
11

 
11

Total share-based compensation
$
65

 
$
65
Restricted stock units and restricted stock activity
A summary of the changes in any restricted stock units, restricted stock, performance shares and performance units outstanding under Applied’s equity compensation plans during the three months ended January 27, 2019 is presented below:
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
 
 
 
 
(In millions, except per share amounts)
Outstanding as of October 28, 2018
18

 
$
32.64

Granted
7

 
$
35.39

Vested
(7
)
 
$
27.83

Canceled
—

 
$
32.06

Outstanding as of January 27, 2019
18

 
$
35.46