Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Aug. 01, 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:

 

August 1, 2021	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In millions)
Cash	$	1,236	$	—	$	—	$	1,236
Cash equivalents:
Money market funds	4,796		—		—		4,796
U.S. Treasury and agency securities	12		—		—		12
Municipal securities	10		—		—		10
Commercial paper, corporate bonds and medium-term notes	12		—		—		12
Total Cash equivalents	4,830		—		—		4,830
Total Cash and Cash equivalents	$	6,066	$	—	$	—	$	6,066
Short-term and long-term investments:
U.S. Treasury and agency securities	$	347	$	1	$	—	$	348
Non-U.S. government securities*	6		—		—		6
Municipal securities	352		5		—		357
Commercial paper, corporate bonds and medium-term notes	580		3		—		583
Asset-backed and mortgage-backed securities	532		5		—		537
Total fixed income securities	1,817		14		—		1,831
Publicly traded equity securities	19		44		2		61
Equity investments in privately-held companies	153		71		14		210
Total equity investments	172		115		16		271
Total short-term and long-term investments	$	1,989	$	129	$	16	$	2,102
Total Cash, Cash equivalents and Investments	$	8,055	$	129	$	16	$	8,168

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*Includes Canadian provincial government debt

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 August 1, 2021:

 

	Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	394	$	395
Due after one through five years	891		899
No single maturity date**	704		808
Total	$	1,989	$	2,102

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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.

Components of gain (loss) on equity investment

The components of gain (loss) on equity investments for the three and nine months ended August 1, 2021 and July 26, 2020 were as follows:

	Three Months Ended				Nine Months Ended
	August 1, 2021		July 26, 2020		August 1, 2021		July 26, 2020
	(In millions)
Publicly traded equity securities
Unrealized gain	$	1	$	6	$	12	$	11
Unrealized loss	(4)		—		(6)		(15)
Realized gain on sales	—		1		—		1
Equity investments in privately-held companies
Unrealized gain	19		1		50		10
Unrealized loss	(3)		(2)		(11)		(5)
Realized gain on sales	6		7		9		8
Realized loss on sales or impairment	—		—		(7)		(8)
Total gain (loss) on equity investments, net	$	19	$	13	$	47	$	2