Goodwill and Intangible Assets

6 Months Ended

Apr. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets with indefinite useful lives are not amortized but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable.

Goodwill

As of April 28, 2024, our reporting units include Semiconductor Products Group and Imaging and Process Control Group, Applied Global Services, Display and Adjacent Markets and other reporting units recorded under Corporate and Other. The Semiconductor Products Group and Imaging and Process Control Group combine to form the Semiconductor Systems reporting segment.

Details of goodwill as of April 28, 2024 and October 29, 2023 were as follows:


	April 28, 2024		October 29, 2023

	(In millions)
Goodwill by reportable segment
Semiconductor Systems	$	2,460	$	2,460
Applied Global Services	1,032		1,032
Display and Adjacent Markets	199		199
Corporate and Other	41		41
	$	3,732	$	3,732

Intangible Assets

Details of intangible assets other than goodwill were as follows:


	April 28, 2024						October 29, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

	(In millions)
Intangible assets with finite lives:
Semiconductor Systems	$	2,001	$	(1,734)	$	267	$	2,001	$	(1,714)	$	287
Applied Global Services	79		(79)		—		79		(78)		1
Display and Adjacent Markets	194		(194)		—		194		(194)		—
Corporate and Other	37		(31)		6		36		(30)		6
Total intangible assets with finite lives	$	2,311	$	(2,038)	$	273	$	2,310	$	(2,016)	$	294

Amortization expense of intangible assets was $11 million and $22 million during the three and six months ended April 28, 2024, respectively. Amortization expense of intangible assets was $12 million and $23 million during the three and six months ended April 30, 2023, respectively.

As of April 28, 2024, future estimated amortization expense of intangible assets with finite lives is expected to be as follows:


	Amortization Expense
	(In millions)
2024 (remaining 6 months)	$	21
2025	41
2026	40
2027	26
2028	23
Thereafter	122
Total	$	273