Analog Devices (ADI) 10-Q21 Feb 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover	3 Months Ended
Cover	Feb. 03, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 03, 2024
Document Transition Report	false
Entity File Number	1-7819
Entity Registrant Name	Analog Devices, Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2348234
Entity Address, Address Line One	One Analog Way,
Entity Address, City or Town	Wilmington,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01887
City Area Code	781
Local Phone Number	935-5565
Title of 12(b) Security	Common Stock $0.16 2/3 par value per share
Entity Trading Symbol	ADI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	495,908,150
Entity Central Index Key	0000006281
Current Fiscal Year End Date	--11-02
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Income Statement [Abstract]
Revenue	$ 2,512,704	$ 3,249,630
Cost of sales	1,038,763	1,125,289
Gross margin	1,473,941	2,124,341
Operating expenses:
Research and development	391,427	414,095
Selling, marketing, general and administrative	290,078	326,284
Amortization of intangibles	190,332	253,142
Special charges, net	16,140	0
Total operating expenses	887,977	993,521
Operating income:	585,964	1,130,820
Nonoperating expense (income):
Interest expense	77,141	60,453
Interest income	(9,169)	(10,829)
Other, net	4,574	7,723
Total nonoperating expense (income)	72,546	57,347
Income before income taxes	513,418	1,073,473
Provision for income taxes	50,691	111,999
Net income	$ 462,727	$ 961,474
Shares used to compute earnings per common share – basic (in shares)	495,765	507,121
Shares used to compute earnings per common share – diluted (in shares)	498,741	511,184
Basic earnings per common share (in dollars per share)	$ 0.93	$ 1.90
Diluted earnings per common share (in dollars per share)	$ 0.93	$ 1.88

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 462,727	$ 961,474
Foreign currency translation adjustments	385	2,499
Change in fair value of derivative instruments designated as cash flow hedges, net	8,020	25,467
Changes in pension plans, net actuarial gain/loss and foreign currency translation adjustments, net	(1,388)	452
Other comprehensive income	7,017	28,418
Comprehensive income	$ 469,744	$ 989,892

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Feb. 03, 2024	Oct. 28, 2023
Current Assets
Cash and cash equivalents	$ 1,303,560	$ 958,061
Accounts receivable	1,196,721	1,469,734
Inventories	1,553,221	1,642,214
Prepaid expenses and other current assets	362,375	314,013
Total current assets	4,415,877	4,384,022
Non-current Assets
Net property, plant and equipment	3,281,937	3,219,157
Goodwill	26,913,134	26,913,134
Intangible assets, net	10,871,054	11,311,957
Deferred tax assets	2,172,174	2,223,272
Other assets	734,288	742,936
Total non-current assets	43,972,587	44,410,456
TOTAL ASSETS	48,388,464	48,794,478
Current Liabilities
Accounts payable	398,107	493,041
Income taxes payable	410,013	309,046
Debt, current	499,322	499,052
Commercial paper notes	544,444	547,224
Accrued liabilities	1,071,480	1,352,608
Total current liabilities	2,923,366	3,200,971
Non-current Liabilities
Long-term debt	5,946,673	5,902,457
Deferred income taxes	2,975,815	3,127,852
Income taxes payable	415,535	417,076
Other non-current liabilities	579,002	581,000
Total non-current liabilities	9,917,025	10,028,385
Shareholders’ Equity
Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding	0	0
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 495,908,150 shares outstanding (496,261,678 on October 28, 2023)	82,653	82,712
Capital in excess of par value	25,253,256	25,313,914
Retained earnings	10,393,449	10,356,798
Accumulated other comprehensive loss	(181,285)	(188,302)
Total shareholders’ equity	35,548,073	35,565,122
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 48,388,464	$ 48,794,478

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Feb. 03, 2024	Oct. 28, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	471,934	471,934
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.16	$ 0.16
Common stock, shares authorized (in shares)	1,200,000,000	1,200,000,000
Common stock, shares outstanding (in shares)	495,908,150	496,261,678

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Oct. 29, 2022		509,296,000
Beginning balance at Oct. 29, 2022		$ 84,880	$ 27,857,270	$ 8,721,325	$ (198,152)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 961,474			961,474
Dividends declared and paid				(385,452)
Issuance of stock under stock plans and other (in shares)		617,000
Issuance of stock under stock plans and other		$ 103	41,135
Stock-based compensation expense			75,041
Other comprehensive income	$ 28,418				28,418
Common stock repurchased (in shares)		(4,061,000)
Common stock repurchased		$ (677)	(653,880)
Ending balance (in shares) at Jan. 28, 2023		505,852,000
Ending balance at Jan. 28, 2023		$ 84,306	27,319,566	9,297,347	(169,734)
Beginning balance (in shares) at Oct. 28, 2023	496,261,678	496,262,000
Beginning balance at Oct. 28, 2023	$ 35,565,122	$ 82,712	25,313,914	10,356,798	(188,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	462,727			462,727
Dividends declared and paid				(426,076)
Issuance of stock under stock plans and other (in shares)		676,000
Issuance of stock under stock plans and other		$ 113	49,706
Stock-based compensation expense			69,815
Other comprehensive income	$ 7,017				7,017
Common stock repurchased (in shares)		(1,030,000)
Common stock repurchased		$ (172)	(180,179)
Ending balance (in shares) at Feb. 03, 2024	495,908,150	495,908,000
Ending balance at Feb. 03, 2024	$ 35,548,073	$ 82,653	$ 25,253,256	$ 10,393,449	$ (181,285)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.86	$ 0.76

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Cash flows from operating activities:
Net income	$ 462,727	$ 961,474
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	84,348	85,321
Amortization of intangibles	440,903	502,177
Stock-based compensation expense	69,815	75,041
Deferred income taxes	(102,149)	(146,354)
Other	4,684	9,732
Changes in operating assets and liabilities	178,504	(81,086)
Total adjustments	676,105	444,831
Net cash provided by operating activities	1,138,832	1,406,305
Cash flows from investing activities:
Additions to property, plant and equipment	(222,978)	(176,158)
Other	3,877	102
Net cash used for investing activities	(219,101)	(176,056)
Cash flows from financing activities:
Proceeds from commercial paper notes	2,779,494	0
Payments of commercial paper notes	(2,782,274)	0
Repurchase of common stock	(180,351)	(654,557)
Dividend payments to shareholders	(426,076)	(385,452)
Proceeds from employee stock plans	49,819	41,238
Other	(14,844)	(31,588)
Net cash used for financing activities	(574,232)	(1,030,359)
Net increase in cash and cash equivalents	345,499	199,890
Cash and cash equivalents at beginning of period	958,061	1,470,572
Cash and cash equivalents at end of period	$ 1,303,560	$ 1,670,462

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Feb. 03, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the information furnished in the accompanying condensed consolidated financial statements reflects all normal recurring adjustments that are necessary to fairly state the results for these interim periods and should be read in conjunction with Analog Devices, Inc.’s (the Company) Annual Report on Form 10-K for the fiscal year ended October 28, 2023 (fiscal 2023) and related notes. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for the fiscal year ending November 2, 2024 (fiscal 2024) or any future period. The Company has a 52-53 week fiscal year that ends on the Saturday closest to the last day in October. Fiscal 2024 is a 53-week fiscal year and fiscal 2023 was a 52-week fiscal year. The additional week in fiscal 2024 is included in the first quarter ended February 3, 2024. Therefore, the first quarter of fiscal 2024 included 14 weeks of operations and the first quarter of fiscal 2023 included 13 weeks of operations.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Feb. 03, 2024
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity As of February 3, 2024, the Company had repurchased a total of approximately 206.2 million shares of its common stock for approximately $14.7 billion under the Company's share repurchase program. As of February 3, 2024, an additional $2.0 billion remains available for repurchase of shares under the current authorized program. The Company also repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units/awards or the exercise of stock options as well as for the Company's employee stock purchase plan. Future repurchases of common stock will be dependent upon the Company's financial position, results of operations, outlook, liquidity and other factors deemed relevant by the Company.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	3 Months Ended
Accumulated Other Comprehensive (Loss) Income	Feb. 03, 2024
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income The following table provides the changes in accumulated other comprehensive (loss) income (AOCI) by component and the related tax effects during the first three months of fiscal 2024. Foreign currency translation adjustment Unrealized holding gains (losses) on derivatives Pension plans Total October 28, 2023 $ (72,544) $ (102,043) $ (13,715) $ (188,302) Other comprehensive income before reclassifications 385 6,795 (1,904) 5,276 Amounts reclassified out of other comprehensive income — 2,699 516 3,215 Tax effects — (1,474) — (1,474) Other comprehensive income 385 8,020 (1,388) 7,017 February 3, 2024 $ (72,159) $ (94,023) $ (15,103) $ (181,285) The amounts reclassified out of AOCI into the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements of Shareholders' Equity with presentation location during each period were as follows: Three Months Ended Comprehensive (Loss) Income Component February 3, 2024 January 28, 2023 Location Unrealized holding (gains) losses on derivatives: Currency forwards $ (71) $ (1,059) Cost of sales (69) (447) Research and development (891) (1,297) Selling, marketing, general and administrative Interest rate derivatives 3,730 3,727 Interest expense 2,699 924 Total before tax (848) (802) Tax $ 1,851 $ 122 Net of tax Amortization of pension components included in the computation of net periodic pension cost: Actuarial losses $ 516 $ 370 Net of tax Total amounts reclassified out of AOCI, net of tax $ 2,367 $ 492

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Feb. 03, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended February 3, 2024 January 28, 2023 Net income $ 462,727 $ 961,474 Basic shares: Weighted-average shares outstanding 495,765 507,121 Earnings per common share basic: $ 0.93 $ 1.90 Diluted shares: Weighted-average shares outstanding 495,765 507,121 Assumed exercise of common stock equivalents 2,976 4,063 Weighted-average common and common equivalent shares 498,741 511,184 Earnings per common share diluted: $ 0.93 $ 1.88 Anti-dilutive shares related to: Outstanding stock-based awards 214 322

Special Charges, Net

Special Charges, Net	3 Months Ended
Special Charges, Net	Feb. 03, 2024
Restructuring and Related Activities [Abstract]
Special Charges, Net	Special Charges, Net Liabilities related to special charges, net are included in Accrued liabilities and Other non-current liabilities in the Condensed Consolidated Balance Sheets. The activity is detailed below: Accrued Special Charges Global Repositioning Actions Q4 2023 Plan Balance at October 28, 2023 $ 36,981 $ 110,446 Employee severance and benefit costs — 11,977 Severance and benefit payments (4,420) (87,013) Balance at February 3, 2024 $ 32,561 $ 35,410 Accrued liabilities $ 9,425 $ 35,410 Other non-current liabilities $ 23,136 $ —

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Feb. 03, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies On March 17, 2022, Walter E. Ryan and Ryan Asset Management, LLC, purported stockholders of Maxim Integrated Products, Inc. (Maxim), filed a putative class action in the Court of Chancery of the State of Delaware (C.A. No. 2022—0255) against the Company and the former directors of Maxim. The complaint alleges breaches of fiduciary duties by the individual defendants in connection with Maxim’s agreement, as part of the merger negotiations with the Company, to suspend Maxim dividends for up to four quarters prior to the closing of the Company's acquisition of Maxim. The complaint further alleges that the Company aided and abetted those alleged breaches of fiduciary duties. The plaintiffs seek damages in an amount to be determined at trial, plaintiffs’ costs and disbursements, including reasonable attorneys’ and experts’ fees, costs and other expenses. On May 2, 2023, the Court of Chancery entered an order dismissing the action in its entirety and with prejudice. On May 9, 2023, the plaintiffs filed a Motion for Reargument, which the Court denied on May 30, 2023. On June 21, 2023, the plaintiffs filed a Notice of Appeal to the Delaware Supreme Court. The appeal is fully briefed, and the Delaware Supreme Court heard argument on February 14, 2024. The Company believes that it and the other defendants have meritorious arguments in response to the appeal and defenses to the underlying allegations; however, the Company is currently unable to determine the ultimate outcome of this matter or determine an estimate, or a range of estimates, of potential losses, if any.

Revenue

Revenue	3 Months Ended
Revenue	Feb. 03, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue Trends by End Market The following table summarizes revenue by end market. The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the “ship to” customer information and the end customer product or application into which the Company’s product will be incorporated. As data systems for capturing and tracking this data and the Company's methodology evolves and improves, the categorization of products by end market can vary over time. When this occurs, the Company reclassifies revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market. Three Months Ended February 3, 2024 January 28, 2023 Revenue % of Revenue* Y/Y% Revenue % of Revenue* Industrial $ 1,196,832 48 % (31) % $ 1,740,780 54 % Automotive 739,158 29 % 9 % 680,637 21 % Communications 302,573 12 % (37) % 477,266 15 % Consumer 274,141 11 % (22) % 350,947 11 % Total revenue $ 2,512,704 100 % (23) % $ 3,249,630 100 % * The sum of the individual percentages may not equal the total due to rounding. Revenue by Sales Channel The following table summarizes revenue by channel. The Company sells its products globally through a direct sales force, third party distributors, independent sales representatives and via its website. Distributors are customers that buy products with the intention of reselling them. Direct customers are non-distributor customers and consist primarily of original equipment manufacturers. Other customers include the U.S. government, government prime contractors and certain commercial customers for which revenue is recorded over time. Three Months Ended February 3, 2024 January 28, 2023 Channel Revenue % of Revenue* Revenue % of Revenue* Distributors $ 1,535,210 61 % $ 2,011,323 62 % Direct customers 939,975 37 % 1,195,534 37 % Other 37,519 1 % 42,773 1 % Total revenue $ 2,512,704 100 % $ 3,249,630 100 % * The sum of the individual percentages may not equal the total due to rounding.

Fair Value

Fair Value	3 Months Ended
Fair Value	Feb. 03, 2024
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Assets and Liabilities Recorded at Fair Value on a Recurring Basis The tables below, set forth by level, present the Company’s financial assets and liabilities, excluding accrued interest components that were accounted for at fair value on a recurring basis as of February 3, 2024 and October 28, 2023. The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of February 3, 2024 and October 28, 2023, the Company held $721.4 million and $642.1 million, respectively, of cash that is excluded from the tables below. February 3, 2024 Fair Value Measurement at Reporting Date Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total Assets Cash equivalents: Available-for-sale: Government and institutional money market funds $ 512,453 $ — $ 512,453 Corporate obligations (1) — 69,755 69,755 Other assets: Forward foreign currency exchange contracts (2) $ — $ 4,044 4,044 Deferred compensation plan investments 89,267 — 89,267 Total assets measured at fair value $ 601,720 $ 73,799 $ 675,519 Liabilities Forward foreign currency exchange contracts (2) $ — $ 11,282 $ 11,282 Interest rate derivatives (3) — 37,074 37,074 Total liabilities measured at fair value $ — $ 48,356 $ 48,356 (1) The amortized cost of the Company's investments classified as available-for-sale as of February 3, 2024 was $69.8 million. (2) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements. (3) The carrying value of the related debt was adjusted by an equal and offsetting amount. The fair value of interest rate derivatives is estimated using a discounted cash flow analysis based on the contractual terms of the derivatives. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements. October 28, 2023 Fair Value Measurement at Reporting Date Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total Assets Cash equivalents: Available-for-sale: Government and institutional money market funds $ 315,980 $ — $ 315,980 Other assets: Forward foreign currency exchange contracts (1) — 1,940 1,940 Deferred compensation plan investments 78,246 — 78,246 Total assets measured at fair value $ 394,226 $ 1,940 $ 396,166 Liabilities Forward foreign currency exchange contracts (1) $ — $ 13,515 $ 13,515 Interest rate derivatives (2) — 81,602 81,602 Total liabilities measured at fair value $ — $ 95,117 $ 95,117 (1) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements. (2) The carrying value of the related debt was adjusted by an equal and offsetting amount. The fair value of interest rate derivatives is estimated using a discounted cash flow analysis based on the contractual terms of the derivatives. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements. Assets and Liabilities Not Recorded at Fair Value on a Recurring Basis The table below presents the estimated fair values of certain financial instruments not recorded at fair value on a recurring basis. Given the short tenure of the Company's commercial paper notes, the carrying value of the outstanding commercial paper notes approximates the fair values, and therefore, are excluded from the table below ($544.4 million and $547.2 million as of February 3, 2024 and October 28, 2023, respectively). The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy. February 3, 2024 October 28, 2023 Principal Amount Outstanding Fair Value Principal Amount Outstanding Fair Value 2024 Notes, due October 2024 $ 500,000 $ 500,183 $ 500,000 $ 499,473 2025 Notes, due April 2025 400,000 391,161 400,000 385,231 2026 Notes, due December 2026 900,000 874,033 900,000 851,023 2027 Notes, due June 2027 440,212 420,472 440,212 408,595 2028 Notes, due October 2028 750,000 659,548 750,000 628,999 2031 Notes, due October 2031 1,000,000 836,328 1,000,000 773,404 2032 Notes, due October 2032 300,000 286,680 300,000 269,828 2036 Notes, due December 2036 144,278 128,570 144,278 118,554 2041 Notes, due October 2041 750,000 545,101 750,000 479,078 2045 Notes, due December 2045 332,587 326,610 332,587 292,248 2051 Notes, due October 2051 1,000,000 685,693 1,000,000 590,666 Total senior unsecured notes $ 6,517,077 $ 5,654,379 $ 6,517,077 $ 5,297,099

Derivatives

Derivatives	3 Months Ended
Derivatives	Feb. 03, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Foreign Exchange Exposure Management — The total notional amounts of forward foreign currency derivative instruments designated as hedging instruments of cash flow hedges denominated in Euros, British Pounds, Philippine Pesos, Thai Baht, South Korean Won and Japanese Yen as of February 3, 2024 and October 28, 2023 were $292.7 million and $322.6 million, respectively. The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s Condensed Consolidated Balance Sheets as of February 3, 2024 and October 28, 2023 were as follows: Fair Value At Balance Sheet Location February 3, 2024 October 28, 2023 Forward foreign currency exchange contracts Prepaid expenses and other current assets $ 1,724 $ 471 Forward foreign currency exchange contracts Accrued liabilities $ 4,637 $ 9,897 As of February 3, 2024 and October 28, 2023, the total notional amounts of undesignated hedges related to forward foreign currency exchange contracts were $293.1 million and $334.7 million, respectively. The fair values of undesignated hedges in the Company’s Condensed Consolidated Balance Sheets as of February 3, 2024 and October 28, 2023 were as follows: Fair Value At Balance Sheet Location February 3, 2024 October 28, 2023 Undesignated hedges related to forward foreign currency exchange contracts Prepaid expenses and other current assets $ 2,320 $ 1,469 Undesignated hedges related to forward foreign currency exchange contracts Accrued liabilities $ 6,645 $ 3,618 Interest Rate Exposure Management — The Company does not consider the risk of counterparty default to be significant. The gain or loss on the Company's interest rate swap transactions attributable to the hedged benchmark interest rate risk and the offsetting gain or loss on the related interest rate swaps were recorded as follows: February 3, 2024 Balance Sheet Location Loss on Swaps Gain on Note Accrued liabilities $ 37,074 $ — Long-term debt $ — $ 37,074 For information on the unrealized holding gains (losses) on derivatives included in and reclassified out of AOCI into the Condensed Consolidated Statements of Income related to forward foreign currency exchange contracts, see Note 3, Accumulated Other Comprehensive (Loss) Income, in these Notes to Condensed Consolidated Financial Statements for further information.

Inventories

Inventories	3 Months Ended
Inventories	Feb. 03, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at February 3, 2024 and October 28, 2023 were as follows: February 3, 2024 October 28, 2023 Raw materials $ 125,131 $ 128,142 Work in process 1,108,667 1,125,819 Finished goods 319,423 388,253 Total inventories $ 1,553,221 $ 1,642,214

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Feb. 03, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rates for the three-month periods ended February 3, 2024 and January 28, 2023 were below the U.S. statutory tax rate of 21.0%, due to lower statutory tax rates applicable to the Company's operations in the foreign jurisdictions in which it earns income. The Company's effective tax rate also includes the effects of the mandatory capitalization and amortization of research and development expenses which began in fiscal 2023 under the Tax Cuts and Jobs Act of 2017. The mandatory capitalization requirement decreases the Company's effective tax rate primarily by increasing the foreign-derived intangible income deduction. It is reasonably possible that the balance of gross unrealized tax benefits, including accrued interest and penalties, could decrease by as much as approximately $136.0 million within the next twelve months due to the completion of tax audits, including any administrative appeals. The Company has numerous audits ongoing throughout the world including: an IRS income tax audit for the fiscal years ended November 2, 2019 and November 3, 2018; a pre-acquisition IRS income tax audit for Maxim's fiscal years ended June 27, 2015 through August 26, 2021; various U.S. state and local audits and international audits, including an Irish corporate tax audit for the fiscal year ended November 2, 2019. The Company's U.S. federal income tax returns prior to the fiscal year ended November 3, 2018 are no longer subject to examination, except for the applicable Maxim pre-acquisition fiscal years noted above.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
New Accounting Pronouncements	Feb. 03, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Standards Implemented Acquired Contract Assets and Contract Liabilities In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities . Under this guidance (ASC 805-20-30-28), the acquirer should determine what contract assets and/or contract liabilities it would have recorded under ASC 606 (the revenue guidance) as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. The recognition and measurement of those contract assets and contract liabilities will likely be comparable to what the acquiree has recorded on its books under ASC 606 as of the acquisition date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted ASU 2021-08 in the first quarter of fiscal 2024. Upon adoption, ASU 2021-08 did not have a material impact on the Company's financial position and results of operations. Standards to be Implemented Segment Reporting In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which enhances the disclosure requirements for reportable segments. ASU 2023-07 requires segment disclosure to include significant segment expense categories and amounts, and qualitative detail of other segment items. Disclosure of multiple measures of segment profit and loss may also be reported. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its financial position and results of operations. Income Taxes In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires the disaggregation of information in existing income tax disclosures related to the effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its financial position and results of operations.

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Feb. 03, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 20, 2024, the Board of Directors of the Company declared a cash dividend of $0.92 per outstanding share of common stock. The dividend will be paid on March 15, 2024 to all shareholders of record at the close of business on March 5, 2024 and is expected to total approximately $456.2 million.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Pay vs Performance Disclosure
Net income	$ 462,727	$ 961,474

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Feb. 03, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by our directors or officers during the first quarter of fiscal 2024 that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (Rule 10b5-1 trading arrangement). Name and Title Date of Adoption Duration of Rule 10b5-1 Trading Arrangement Aggregate Number of Securities to Be Purchased or Sold James Mollica, Vice President, Finance and Sales Operations and former Interim Chief Financial Officer November 28, 2023 Until June 28, 2024, or such earlier date upon which all transactions are completed or expire without execution Sale of up to 4,381 shares
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
James Mollica [Member]
Trading Arrangements, by Individual
Name	James Mollica
Title	Vice President, Finance and Sales Operations and former Interim Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 28, 2023
Arrangement Duration	213 days
Aggregate Available	4,381,000

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Feb. 03, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	The Company has a 52-53 week fiscal year that ends on the Saturday closest to the last day in October. Fiscal 2024 is a 53-week fiscal year and fiscal 2023 was a 52-week fiscal year. The additional week in fiscal 2024 is included in the first quarter ended February 3, 2024. Therefore, the first quarter of fiscal 2024 included 14 weeks of operations and the first quarter of fiscal 2023 included 13 weeks of operations.
Standards Implemented and Standards to be Implemented	Standards Implemented Acquired Contract Assets and Contract Liabilities In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities . Under this guidance (ASC 805-20-30-28), the acquirer should determine what contract assets and/or contract liabilities it would have recorded under ASC 606 (the revenue guidance) as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. The recognition and measurement of those contract assets and contract liabilities will likely be comparable to what the acquiree has recorded on its books under ASC 606 as of the acquisition date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted ASU 2021-08 in the first quarter of fiscal 2024. Upon adoption, ASU 2021-08 did not have a material impact on the Company's financial position and results of operations. Standards to be Implemented Segment Reporting In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which enhances the disclosure requirements for reportable segments. ASU 2023-07 requires segment disclosure to include significant segment expense categories and amounts, and qualitative detail of other segment items. Disclosure of multiple measures of segment profit and loss may also be reported. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its financial position and results of operations. Income Taxes In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires the disaggregation of information in existing income tax disclosures related to the effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact, if any, adoption will have on its financial position and results of operations.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	3 Months Ended
Accumulated Other Comprehensive (Loss) Income (Tables)	Feb. 03, 2024
Equity [Abstract]
Schedule of components of accumulated other comprehensive (loss) income, net of tax	The following table provides the changes in accumulated other comprehensive (loss) income (AOCI) by component and the related tax effects during the first three months of fiscal 2024. Foreign currency translation adjustment Unrealized holding gains (losses) on derivatives Pension plans Total October 28, 2023 $ (72,544) $ (102,043) $ (13,715) $ (188,302) Other comprehensive income before reclassifications 385 6,795 (1,904) 5,276 Amounts reclassified out of other comprehensive income — 2,699 516 3,215 Tax effects — (1,474) — (1,474) Other comprehensive income 385 8,020 (1,388) 7,017 February 3, 2024 $ (72,159) $ (94,023) $ (15,103) $ (181,285)
Schedule of reclassification out of accumulated other comprehensive (loss) income	The amounts reclassified out of AOCI into the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements of Shareholders' Equity with presentation location during each period were as follows: Three Months Ended Comprehensive (Loss) Income Component February 3, 2024 January 28, 2023 Location Unrealized holding (gains) losses on derivatives: Currency forwards $ (71) $ (1,059) Cost of sales (69) (447) Research and development (891) (1,297) Selling, marketing, general and administrative Interest rate derivatives 3,730 3,727 Interest expense 2,699 924 Total before tax (848) (802) Tax $ 1,851 $ 122 Net of tax Amortization of pension components included in the computation of net periodic pension cost: Actuarial losses $ 516 $ 370 Net of tax Total amounts reclassified out of AOCI, net of tax $ 2,367 $ 492

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Feb. 03, 2024
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended February 3, 2024 January 28, 2023 Net income $ 462,727 $ 961,474 Basic shares: Weighted-average shares outstanding 495,765 507,121 Earnings per common share basic: $ 0.93 $ 1.90 Diluted shares: Weighted-average shares outstanding 495,765 507,121 Assumed exercise of common stock equivalents 2,976 4,063 Weighted-average common and common equivalent shares 498,741 511,184 Earnings per common share diluted: $ 0.93 $ 1.88 Anti-dilutive shares related to: Outstanding stock-based awards 214 322

Special Charges, Net (Tables)

Special Charges, Net (Tables)	3 Months Ended
Special Charges, Net (Tables)	Feb. 03, 2024
Restructuring and Related Activities [Abstract]
Schedule of accrued restructuring	Liabilities related to special charges, net are included in Accrued liabilities and Other non-current liabilities in the Condensed Consolidated Balance Sheets. The activity is detailed below: Accrued Special Charges Global Repositioning Actions Q4 2023 Plan Balance at October 28, 2023 $ 36,981 $ 110,446 Employee severance and benefit costs — 11,977 Severance and benefit payments (4,420) (87,013) Balance at February 3, 2024 $ 32,561 $ 35,410 Accrued liabilities $ 9,425 $ 35,410 Other non-current liabilities $ 23,136 $ —

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Feb. 03, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following table summarizes revenue by end market. The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the “ship to” customer information and the end customer product or application into which the Company’s product will be incorporated. As data systems for capturing and tracking this data and the Company's methodology evolves and improves, the categorization of products by end market can vary over time. When this occurs, the Company reclassifies revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market. Three Months Ended February 3, 2024 January 28, 2023 Revenue % of Revenue* Y/Y% Revenue % of Revenue* Industrial $ 1,196,832 48 % (31) % $ 1,740,780 54 % Automotive 739,158 29 % 9 % 680,637 21 % Communications 302,573 12 % (37) % 477,266 15 % Consumer 274,141 11 % (22) % 350,947 11 % Total revenue $ 2,512,704 100 % (23) % $ 3,249,630 100 % * The sum of the individual percentages may not equal the total due to rounding. Revenue by Sales Channel The following table summarizes revenue by channel. The Company sells its products globally through a direct sales force, third party distributors, independent sales representatives and via its website. Distributors are customers that buy products with the intention of reselling them. Direct customers are non-distributor customers and consist primarily of original equipment manufacturers. Other customers include the U.S. government, government prime contractors and certain commercial customers for which revenue is recorded over time. Three Months Ended February 3, 2024 January 28, 2023 Channel Revenue % of Revenue* Revenue % of Revenue* Distributors $ 1,535,210 61 % $ 2,011,323 62 % Direct customers 939,975 37 % 1,195,534 37 % Other 37,519 1 % 42,773 1 % Total revenue $ 2,512,704 100 % $ 3,249,630 100 % * The sum of the individual percentages may not equal the total due to rounding.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
Fair Value (Tables)	Feb. 03, 2024
Fair Value Disclosures [Abstract]
Schedule of fair value of financial assets and liabilities	The tables below, set forth by level, present the Company’s financial assets and liabilities, excluding accrued interest components that were accounted for at fair value on a recurring basis as of February 3, 2024 and October 28, 2023. The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of February 3, 2024 and October 28, 2023, the Company held $721.4 million and $642.1 million, respectively, of cash that is excluded from the tables below. February 3, 2024 Fair Value Measurement at Reporting Date Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total Assets Cash equivalents: Available-for-sale: Government and institutional money market funds $ 512,453 $ — $ 512,453 Corporate obligations (1) — 69,755 69,755 Other assets: Forward foreign currency exchange contracts (2) $ — $ 4,044 4,044 Deferred compensation plan investments 89,267 — 89,267 Total assets measured at fair value $ 601,720 $ 73,799 $ 675,519 Liabilities Forward foreign currency exchange contracts (2) $ — $ 11,282 $ 11,282 Interest rate derivatives (3) — 37,074 37,074 Total liabilities measured at fair value $ — $ 48,356 $ 48,356 (1) The amortized cost of the Company's investments classified as available-for-sale as of February 3, 2024 was $69.8 million. (2) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements. (3) The carrying value of the related debt was adjusted by an equal and offsetting amount. The fair value of interest rate derivatives is estimated using a discounted cash flow analysis based on the contractual terms of the derivatives. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements. October 28, 2023 Fair Value Measurement at Reporting Date Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total Assets Cash equivalents: Available-for-sale: Government and institutional money market funds $ 315,980 $ — $ 315,980 Other assets: Forward foreign currency exchange contracts (1) — 1,940 1,940 Deferred compensation plan investments 78,246 — 78,246 Total assets measured at fair value $ 394,226 $ 1,940 $ 396,166 Liabilities Forward foreign currency exchange contracts (1) $ — $ 13,515 $ 13,515 Interest rate derivatives (2) — 81,602 81,602 Total liabilities measured at fair value $ — $ 95,117 $ 95,117 (1) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements. (2) The carrying value of the related debt was adjusted by an equal and offsetting amount. The fair value of interest rate derivatives is estimated using a discounted cash flow analysis based on the contractual terms of the derivatives. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements.
Schedule of debt	The table below presents the estimated fair values of certain financial instruments not recorded at fair value on a recurring basis. Given the short tenure of the Company's commercial paper notes, the carrying value of the outstanding commercial paper notes approximates the fair values, and therefore, are excluded from the table below ($544.4 million and $547.2 million as of February 3, 2024 and October 28, 2023, respectively). The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy. February 3, 2024 October 28, 2023 Principal Amount Outstanding Fair Value Principal Amount Outstanding Fair Value 2024 Notes, due October 2024 $ 500,000 $ 500,183 $ 500,000 $ 499,473 2025 Notes, due April 2025 400,000 391,161 400,000 385,231 2026 Notes, due December 2026 900,000 874,033 900,000 851,023 2027 Notes, due June 2027 440,212 420,472 440,212 408,595 2028 Notes, due October 2028 750,000 659,548 750,000 628,999 2031 Notes, due October 2031 1,000,000 836,328 1,000,000 773,404 2032 Notes, due October 2032 300,000 286,680 300,000 269,828 2036 Notes, due December 2036 144,278 128,570 144,278 118,554 2041 Notes, due October 2041 750,000 545,101 750,000 479,078 2045 Notes, due December 2045 332,587 326,610 332,587 292,248 2051 Notes, due October 2051 1,000,000 685,693 1,000,000 590,666 Total senior unsecured notes $ 6,517,077 $ 5,654,379 $ 6,517,077 $ 5,297,099

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
Derivatives (Tables)	Feb. 03, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of hedging instruments	The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s Condensed Consolidated Balance Sheets as of February 3, 2024 and October 28, 2023 were as follows: Fair Value At Balance Sheet Location February 3, 2024 October 28, 2023 Forward foreign currency exchange contracts Prepaid expenses and other current assets $ 1,724 $ 471 Forward foreign currency exchange contracts Accrued liabilities $ 4,637 $ 9,897 Fair Value At Balance Sheet Location February 3, 2024 October 28, 2023 Undesignated hedges related to forward foreign currency exchange contracts Prepaid expenses and other current assets $ 2,320 $ 1,469 Undesignated hedges related to forward foreign currency exchange contracts Accrued liabilities $ 6,645 $ 3,618
Schedule of interest rate derivatives	The gain or loss on the Company's interest rate swap transactions attributable to the hedged benchmark interest rate risk and the offsetting gain or loss on the related interest rate swaps were recorded as follows: February 3, 2024 Balance Sheet Location Loss on Swaps Gain on Note Accrued liabilities $ 37,074 $ — Long-term debt $ — $ 37,074

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Feb. 03, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories at February 3, 2024 and October 28, 2023 were as follows: February 3, 2024 October 28, 2023 Raw materials $ 125,131 $ 128,142 Work in process 1,108,667 1,125,819 Finished goods 319,423 388,253 Total inventories $ 1,553,221 $ 1,642,214

Shareholders' Equity (Details)

Shareholders' Equity (Details) shares in Millions, $ in Billions	Feb. 03, 2024 USD ($) shares
Stockholders' Equity Note [Abstract]
Stock repurchase program, number of shares authorized to be repurchased (in shares) \| shares	206.2
Stock repurchase program, authorized amount	$ 14.7
Stock repurchase program, remaining authorized repurchase amount	$ 2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income - Changes By Component and Tax Effect (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 35,565,122
Other comprehensive income before reclassifications	5,276
Amounts reclassified out of other comprehensive income	3,215
Tax effects	(1,474)
Other comprehensive income	7,017	$ 28,418
Ending balance	35,548,073
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(188,302)	(198,152)
Other comprehensive income	7,017	28,418
Ending balance	(181,285)	$ (169,734)
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(72,544)
Other comprehensive income before reclassifications	385
Amounts reclassified out of other comprehensive income	0
Tax effects	0
Other comprehensive income	385
Ending balance	(72,159)
Unrealized holding gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(102,043)
Other comprehensive income before reclassifications	6,795
Amounts reclassified out of other comprehensive income	2,699
Tax effects	(1,474)
Other comprehensive income	8,020
Ending balance	(94,023)
Pension plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(13,715)
Other comprehensive income before reclassifications	(1,904)
Amounts reclassified out of other comprehensive income	516
Tax effects	0
Other comprehensive income	(1,388)
Ending balance	$ (15,103)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive (Loss) Income - Amounts Reclassified Out of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 1,038,763	$ 1,125,289
Research and development	391,427	414,095
Selling, marketing, general and administrative	290,078	326,284
Interest expense	77,141	60,453
Total before tax	(513,418)	(1,073,473)
Tax	50,691	111,999
Net of tax	(462,727)	(961,474)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	2,367	492
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized holding (gains) losses on derivatives:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	2,699	924
Tax	(848)	(802)
Net of tax	1,851	122
Reclassification out of Accumulated Other Comprehensive Income \| Pension plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	516	370
Reclassification out of Accumulated Other Comprehensive Income \| Currency forwards \| Unrealized holding (gains) losses on derivatives:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	(71)	(1,059)
Research and development	(69)	(447)
Selling, marketing, general and administrative	(891)	(1,297)
Reclassification out of Accumulated Other Comprehensive Income \| Interest rate derivatives \| Unrealized holding (gains) losses on derivatives:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 3,730	$ 3,727

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Earnings per share
Net income	$ 462,727	$ 961,474
Basic shares:
Weighted-average shares outstanding (in shares)	495,765	507,121
Earnings per common share, basic (in dollars per share)	$ 0.93	$ 1.90
Diluted shares:
Assumed exercise of common stock equivalents (in shares)	2,976	4,063
Weighted-average common and common equivalent shares (in shares)	498,741	511,184
Earnings per common share, diluted (in dollars per share)	$ 0.93	$ 1.88
Anti-dilutive shares related to:
Outstanding stock-based awards (in shares)	214	322

Special Charges, Net (Details)

Special Charges, Net (Details) $ in Thousands	3 Months Ended
Special Charges, Net (Details) $ in Thousands	Feb. 03, 2024 USD ($)
Global Repositioning Actions
Restructuring Reserve [Roll Forward]
Accrued restructuring, beginning balance	$ 36,981
Employee severance and benefit costs	0
Severance and benefit payments	(4,420)
Accrued restructuring, ending balance	32,561
Accrued liabilities	9,425
Other non-current liabilities	23,136
Q4 2023 Plan
Restructuring Reserve [Roll Forward]
Accrued restructuring, beginning balance	110,446
Employee severance and benefit costs	11,977
Severance and benefit payments	(87,013)
Accrued restructuring, ending balance	35,410
Accrued liabilities	35,410
Other non-current liabilities	$ 0

Revenue - Revenue Trends by Seg

Revenue - Revenue Trends by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 2,512,704	$ 3,249,630
Percent of revenue (as percent)	100%	100%
Year over year change (as percent)	(23.00%)
Industrial
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,196,832	$ 1,740,780
Percent of revenue (as percent)	48%	54%
Year over year change (as percent)	(31.00%)
Automotive
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 739,158	$ 680,637
Percent of revenue (as percent)	29%	21%
Year over year change (as percent)	9%
Communications
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 302,573	$ 477,266
Percent of revenue (as percent)	12%	15%
Year over year change (as percent)	(37.00%)
Consumer
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 274,141	$ 350,947
Percent of revenue (as percent)	11%	11%
Year over year change (as percent)	(22.00%)

Revenue - Revenue by Sales Chan

Revenue - Revenue by Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 2,512,704	$ 3,249,630
Percent of revenue (as percent)	100%	100%
Distributors
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,535,210	$ 2,011,323
Percent of revenue (as percent)	61%	62%
Direct customers
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 939,975	$ 1,195,534
Percent of revenue (as percent)	37%	37%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 37,519	$ 42,773
Percent of revenue (as percent)	1%	1%

Fair Value - Textual (Details)

Fair Value - Textual (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Oct. 28, 2023
Fair Value Disclosures [Abstract]
Cash	$ 721,400	$ 642,100
Commercial paper notes	$ 544,444	$ 547,224

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Oct. 28, 2023
Liabilities
Available-for-sale, amortized cost	$ 69,800
Recurring
Other assets:
Forward foreign currency exchange contracts	4,044	$ 1,940
Deferred compensation plan investments	89,267	78,246
Total assets measured at fair value	675,519	396,166
Liabilities
Forward foreign currency exchange contracts	11,282	13,515
Interest rate derivatives	37,074	81,602
Total liabilities measured at fair value	48,356	95,117
Recurring \| Government and institutional money market funds
Available-for-sale:
Cash equivalents available for sale	512,453	315,980
Recurring \| Corporate obligations
Available-for-sale:
Cash equivalents available for sale	69,755
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Other assets:
Forward foreign currency exchange contracts	0	0
Deferred compensation plan investments	89,267	78,246
Total assets measured at fair value	601,720	394,226
Liabilities
Forward foreign currency exchange contracts	0	0
Interest rate derivatives	0	0
Total liabilities measured at fair value	0	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Government and institutional money market funds
Available-for-sale:
Cash equivalents available for sale	512,453	315,980
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate obligations
Available-for-sale:
Cash equivalents available for sale	0
Recurring \| Significant Other Observable Inputs (Level 2)
Other assets:
Forward foreign currency exchange contracts	4,044	1,940
Deferred compensation plan investments	0	0
Total assets measured at fair value	73,799	1,940
Liabilities
Forward foreign currency exchange contracts	11,282	13,515
Interest rate derivatives	37,074	81,602
Total liabilities measured at fair value	48,356	95,117
Recurring \| Significant Other Observable Inputs (Level 2) \| Government and institutional money market funds
Available-for-sale:
Cash equivalents available for sale	0	$ 0
Recurring \| Significant Other Observable Inputs (Level 2) \| Corporate obligations
Available-for-sale:
Cash equivalents available for sale	$ 69,755

Fair Value - Debt (Details)

Fair Value - Debt (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Oct. 28, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	$ 6,517,077	$ 6,517,077
Fair Value	5,654,379,000	5,297,099
Senior notes \| 2024 Notes, due October 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	500,000	500,000
Fair Value	500,183,000	499,473
Senior notes \| 2025 Notes, due April 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	400,000	400,000
Fair Value	391,161,000	385,231
Senior notes \| 2026 Notes, due December 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	900,000	900,000
Fair Value	874,033,000	851,023
Senior notes \| 2027 Notes, due June 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	440,212	440,212
Fair Value	420,472,000	408,595
Senior notes \| 2028 Notes, due October 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	750,000	750,000
Fair Value	659,548,000	628,999
Senior notes \| 2031 Notes, due October 2031
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	1,000,000	1,000,000
Fair Value	836,328,000	773,404
Senior notes \| 2032 Notes, due October 2032
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	300,000	300,000
Fair Value	286,680,000	269,828
Senior notes \| 2036 Notes, due December 2036
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	144,278	144,278
Fair Value	128,570,000	118,554
Senior notes \| 2041 Notes, due October 2041
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	750,000	750,000
Fair Value	545,101,000	479,078
Senior notes \| 2045 Notes, due December 2045
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	332,587	332,587
Fair Value	326,610,000	292,248
Senior notes \| 2051 Notes, due October 2051
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount Outstanding	1,000,000	1,000,000
Fair Value	$ 685,693,000	$ 590,666

Derivatives - Textual (Details)

Derivatives - Textual (Details) - Forward foreign currency exchange contract - USD ($) $ in Millions	Feb. 03, 2024	Oct. 28, 2023
Designated Hedging Instrument
Derivative [Line Items]
Notional amount of derivative	$ 292.7	$ 322.6
Undesignated Hedging Instrument
Derivative [Line Items]
Notional amount of derivative	$ 293.1	$ 334.7

Derivatives - Forward Foreign C

Derivatives - Forward Foreign Currency Balance Sheet (Details) - Forward foreign currency exchange contracts - USD ($) $ in Thousands	Feb. 03, 2024	Oct. 28, 2023
Designated Hedging Instrument \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Forward foreign currency exchange contracts	$ 1,724	$ 471
Designated Hedging Instrument \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Forward foreign currency exchange contracts	4,637	9,897
Undesignated Hedging Instrument \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Forward foreign currency exchange contracts	2,320	1,469
Undesignated Hedging Instrument \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Forward foreign currency exchange contracts	$ 6,645	$ 3,618

Derivatives - Interest Rate Der

Derivatives - Interest Rate Derivatives (Details) - Interest rate swap $ in Thousands	3 Months Ended
	Feb. 03, 2024 USD ($)
Accrued liabilities
Derivatives, Fair Value [Line Items]
Loss on Swaps	$ 37,074
Gain on Note	0
Long-term debt
Derivatives, Fair Value [Line Items]
Loss on Swaps	0
Gain on Note	$ 37,074

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Oct. 28, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 125,131	$ 128,142
Work in process	1,108,667	1,125,819
Finished goods	319,423	388,253
Total inventories	$ 1,553,221	$ 1,642,214

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Income Tax Disclosure [Abstract]
Federal statutory rate (as percent)	21%	21%
Maxim \| Settlement with Taxing Authority
Income Tax Contingency [Line Items]
Decrease in unrealized tax benefits is reasonably possible	$ 136

Subsequent Events (Details)

Subsequent Events (Details) - Common Stock - Subsequent event $ / shares in Units, $ in Millions	Feb. 20, 2024 USD ($) $ / shares
Subsequent Event [Line Items]
Common stock cash dividends per share, declared (in dollars per share) \| $ / shares	$ 0.92
Dividends \| $	$ 456.2