Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Jan. 31, 2021

Cash and Cash Equivalents [Abstract]

Summary of cash, cash equivalents and investments

The following tables summarize Applied’s cash, cash equivalents and investments by security type:

January 31, 2021	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,150	$	—	$	—	$	1,150
Cash equivalents:
Money market funds	5,038		—		—		5,038
Municipal securities	15		—		—		15
Commercial paper, corporate bonds and medium-term notes	10		—		—		10
Total Cash equivalents	5,063		—		—		5,063
Total Cash and Cash equivalents	$	6,213	$	—	$	—	$	6,213
Short-term and long-term investments:
Bank certificate of deposit	$	2	$	—	$	—	$	2
U.S. Treasury and agency securities	332		2		—		334
Non-U.S. government securities*	6		—		—		6
Municipal securities	354		6		—		360
Commercial paper, corporate bonds and medium-term notes	552		7		—		559
Asset-backed and mortgage-backed securities	540		8		—		548
Total fixed income securities	1,786		23		—		1,809
Publicly traded equity securities	12		42		1		53
Equity investments in privately-held companies	132		26		9		149
Total equity investments	144		68		10		202
Total short-term and long-term investments	$	1,930	$	91	$	10	$	2,011
Total Cash, Cash equivalents and Investments	$	8,143	$	91	$	10	$	8,224

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* Includes agency debt securities guaranteed by Canada

October 25, 2020	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,136	$	—	$	—	$	1,136
Cash equivalents:
Money market funds	4,209		—		—		4,209
Municipal securities	6		—		—		6
Total Cash equivalents	4,215		—		—		4,215
Total Cash and Cash equivalents	$	5,351	$	—	$	—	$	5,351
Short-term and long-term investments:
U.S. Treasury and agency securities	$	394	$	4	$	—	$	398
Municipal securities	359		6		—		365
Commercial paper, corporate bonds and medium-term notes	492		8		1		499
Asset-backed and mortgage-backed securities	470		9		—		479
Total fixed income securities	1,715		27		1		1,741
Publicly traded equity securities	11		36		2		45
Equity investments in privately-held companies	121		25		7		139
Total equity investments	132		61		9		184
Total short-term and long-term investments	$	1,847	$	88	$	10	$	1,925
Total Cash, Cash equivalents and Investments	$	7,198	$	88	$	10	$	7,276

Contractual maturities of investments

The following table summarizes the contractual maturities of Applied’s investments as of January 31, 2021:

	Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	390	$	392
Due after one through five years	857		869
No single maturity date**	683		750
Total	$	1,930	$	2,011

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** Securities with no single maturity date include publicly-traded and privately-held equity securities and asset-backed and mortgage-backed securities.

Equity Securities, FV-NI

The components of gain (loss) on equity investments for the three months ended January 31, 2021 and January 26, 2020 were as follows:

	Three Months Ended
	January 31, 2021		January 26, 2020
	(In millions)
Publicly traded equity securities
Unrealized gain	$	8	$	2
Unrealized loss	—		(3)
Equity investments in privately-held companies
Unrealized gain	1		—
Unrealized loss	(3)		(1)
Realized gain on sales	2		—
Realized loss on sales or impairment	—		(2)
Total gain (loss) on equity investments, net	$	8	$	(4)