AGILENT TECHNOLOGIES, INC., 10-Q filed on 3/5/2024
Quarterly Report
v3.24.0.1
Document and Entity Information - shares
 3 Months Ended
Jan. 31, 2024
Feb. 27, 2024
Document and Entity Information [Abstract]    
Entity Registrant Name AGILENT TECHNOLOGIES, INC.  
Document Type 10-Q  
Document Fiscal Period Focus Q1  
Document Period End Date Jan. 31, 2024  
Current Fiscal Year End Date --10-31  
Document Fiscal Year Focus 2024  
Amendment Flag false  
Document Quarterly Report true  
Document Transition Report false  
Entity Central Index Key 0001090872  
Entity File Number 001-15405  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 77-0518772  
Entity Address, Address Line One 5301 Stevens Creek Blvd.,  
Entity Address, City or Town Santa Clara,  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 95051  
City Area Code (800)  
Local Phone Number 227-9770  
Title of 12(b) Security Common Stock, $0.01 par value  
Trading Symbol A  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   293,055,284
v3.24.0.1
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Net revenue:    
Net revenue $ 1,658 $ 1,756
Costs and expenses:    
Cost of revenue 750 788
Research and development 128 123
Selling, general and administrative 396 419
Total costs and expenses 1,274 1,330
Income from operations 384 426
Interest income 18 9
Interest expense (22) (25)
Other income (expense), net 23 0
Income before taxes 403 410
Provision for income taxes 55 58
Net income $ 348 $ 352
Net income per share    
Basic $ 1.19 $ 1.19
Diluted $ 1.18 $ 1.19
Weighted average shares used in computing net income per share:    
Basic 293 296
Diluted 294 297
Product    
Net revenue:    
Net revenue $ 1,209 $ 1,323
Costs and expenses:    
Cost of revenue 514 556
Service and Other    
Net revenue:    
Net revenue 449 433
Costs and expenses:    
Cost of revenue $ 236 $ 232
v3.24.0.1
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Net income $ 348 $ 352
Other comprehensive income (loss):    
Unrealized gain (loss) on derivative instruments, net of tax expense (benefit) of $(3) and $(9) (7) (22)
Amount reclassified into earnings related to derivative instruments, net of tax expense (benefit) of $(1)and $(2) (2) (4)
Foreign currency translation, net of tax expense (benefit) of $0 and $(1) 21 91
Net defined benefit pension cost and post retirement plan costs:    
Change in actuarial net gain (loss), net of tax expense (benefit) of $(1) and $0 (1) 2
Other comprehensive income (loss) 11 67
Total comprehensive income $ 359 $ 419
v3.24.0.1
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Other comprehensive income (loss), tax, parenthetical disclosures    
Unrealized gain (loss) on derivative instruments, tax expense (benefit) $ (3) $ (9)
Amounts reclassified into earnings related to derivative instruments, tax expense (benefit) (1) (2)
Foreign currency translation, tax expense (benefit) 0 (1)
Net defined benefit pension cost and post retirement plan costs, tax    
Change in actuarial net loss, tax expense (benefit) $ (1) $ 0
v3.24.0.1
CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,748 $ 1,590
Accounts receivable, net 1,295 1,291
Inventory 1,033 1,031
Other current assets 262 274
Total current assets 4,338 4,186
Property, plant and equipment, net 1,314 1,270
Goodwill 3,967 3,960
Other intangible assets, net 443 475
Long-term investments 170 164
Other assets 716 708
Total assets 10,948 10,763
Current liabilities:    
Accounts payable 488 418
Employee compensation and benefits 272 371
Deferred revenue 522 505
Other accrued liabilities 335 309
Total current liabilities 1,617 1,603
Long-term debt 2,555 2,735
Retirement and post-retirement benefits 102 103
Other long-term liabilities 486 477
Total liabilities 4,760 4,918
Commitments and Contingencies (Note 9 and 12)
Stockholders' equity:    
Preferred stock; $0.01 par value; 125,000,000 shares authorized; none issued and outstanding at January 31, 2024 and October 31, 2023 0 0
Common stock; $0.01 par value; 2,000,000,000 shares authorized; 293,041,817 shares at January 31, 2024 and 292,123,241 shares at October 31, 2023, issued and outstanding 3 3
Additional paid-in-capital 5,440 5,387
Retained earnings 1,061 782
Accumulated other comprehensive loss (316) (327)
Total stockholder's equity 6,188 5,845
Total liabilities and equity $ 10,948 $ 10,763
v3.24.0.1
CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares
Jan. 31, 2024
Oct. 31, 2023
Stockholders' equity:    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 125,000,000 125,000,000
Preferred Stock, Shares Issued 0 0
Preferred stock, outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common Stock, Shares, Issued 293,041,817 292,123,241
Common Stock, Shares, Outstanding 293,041,817 292,123,241
v3.24.0.1
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities    
Net income $ 348 $ 352
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 62 67
Share-based compensation 44 44
Deferred taxes 0 4
Excess and obsolete inventory related charges 11 7
Net gain (loss) on equity securities 3 (10)
Asset Impairment Charges 8 0
Change in fair value of contingent consideration 0 1
Other non-cash (income) expense, net (6) 1
Changes in assets and liabilities:    
Accounts receivable,net 10 (5)
Inventory (9) (69)
Accounts payable 84 (27)
Employee compensation and benefits (104) (174)
Other assets and liabilities 40 85
Net cash provided by operating activities 485 296
Cash flows from Investing activities:    
Payments to acquire property, plant and equipment (90) (76)
Payments to acquire equity securities 0 (1)
Proceeds from sale of equity securities 0 4
Payments in exchange for convertible note (5) (3)
Proceeds from convertible note 0 2
Acquisitions of businesses and intangible assets, net of cash acquired 0 (30)
Net cash used in investing activities (95) (104)
Cash flows from financing activities:    
Proceeds from issuance of common stock under employee stock plans 34 35
Payment of taxes related to net share settlement of equity awards (25) (51)
Payment of dividends (69) (67)
Repayments of Long-Term Debt 180 0
Net Proceeds from Short-Term Debt 0 203
Payment for contingent consideration 0 (62)
Payments for repurchase of common stock 0 (75)
Net cash used in financing activities (240) (17)
Effect of Exchange Rate Movements 7 22
Net increase (decrease) in cash, cash equivalents and restricted cash 157 197
Cash, cash equivalents and restricted cash at beginning of period 1,593 1,056
Cash, cash equivalents and restricted cash at end of period 1,750 1,253
Supplemental cash flow information:    
Income tax paid, net of refunds received 24 17
Interest payments, net of capitalized interest 14 15
Net change in property, plant and equipment included in Accounts Payable and Accrued Liabilities increase (decrease) $ (16) $ (20)
v3.24.0.1
CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Total Stockholder's Equity
Beginning Balance (in Shares) at Oct. 31, 2022   295,259        
Beginning Balance at Oct. 31, 2022   $ 3 $ 5,325 $ 324 $ (347) $ 5,305
Components of comprehensive income, net of tax            
Net income $ 352     352   352
Other comprehensive income (loss) 67       67 67
Total comprehensive income, net of tax           419
Cash dividends declared       (67)   (67)
Share-based awards issued, net of tax (in shares)   1,061        
Share-based awards issued     (17)     (17)
Stock Repurchased and Retired During Period, Shares   (499)        
Stock Repurchased and Retired During Period, Value     (7) (68)   (75)
Share-based compensation     44     44
Ending Balance (in Shares) at Jan. 31, 2023   295,821        
Ending Balance at Jan. 31, 2023   $ 3 5,345 541 (280) 5,609
Beginning Balance (in Shares) at Oct. 31, 2023   292,123        
Beginning Balance at Oct. 31, 2023 5,845 $ 3 5,387 782 (327) 5,845
Components of comprehensive income, net of tax            
Net income 348     348   348
Other comprehensive income (loss) 11       11 11
Total comprehensive income, net of tax           359
Cash dividends declared       (69)   (69)
Share-based awards issued, net of tax (in shares)   919        
Share-based awards issued     9     9
Share-based compensation     44     44
Ending Balance (in Shares) at Jan. 31, 2024   293,042        
Ending Balance at Jan. 31, 2024 $ 6,188 $ 3 $ 5,440 $ 1,061 $ (316) $ 6,188
v3.24.0.1
CONDENSED CONSOLIDATE STATEMENT OF EQUITY - (PARENTHETICAL) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Statement of Stockholders' Equity [Abstract]    
Dividends Declared per share $ 0.236 $ 0.225
Share-based Award, Tax $ 25 $ 51
v3.24.0.1
OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Notes)
 3 Months Ended
Jan. 31, 2024
Disclosure Text Block [Abstract]  
OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
Overview. Agilent Technologies, Inc. ("we," "Agilent" or the "company"), incorporated in Delaware in May 1999, is a global leader in life sciences, diagnostics and applied chemical markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow.

Our fiscal year-end is October 31, and our fiscal quarters end on January 31, April 30 and July 31. Unless otherwise stated, these dates refer to our fiscal year and fiscal quarters.

New Segment Structure. In the first quarter of fiscal year 2024, we announced a change in our operating segments to move our cell analysis business from our life sciences and applied markets segment to our diagnostics and genomics operating segment in order to further strengthen growth opportunities for both organizations. Following this reorganization, we continue to have three business segments comprised of life sciences and applied markets, diagnostics and genomics and Agilent CrossLab, each of which continues to comprise a reportable segment. We are reporting under this new structure beginning with this Quarterly Report on Form 10-Q for the period ended January 31, 2024. All historical financial segment information has been recast to conform to this new presentation in our financial statements and accompanying notes. There was no change to our Agilent CrossLab business segment.

Basis of Presentation. We have prepared the accompanying financial data for the three months ended January 31, 2024 and 2023 pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the U.S. have been condensed or omitted pursuant to such rules and regulations. The October 31, 2023 condensed balance sheet data was derived from audited financial statements but does not include all the disclosures required in audited financial statements by U.S. GAAP. The accompanying financial data and information should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.

In the opinion of management, the accompanying condensed consolidated financial statements contain all normal and recurring adjustments necessary for a fair statement of our condensed consolidated balance sheet as of January 31, 2024 and October 31, 2023, condensed consolidated statement of comprehensive income (loss) for the three months ended January 31, 2024 and 2023, condensed consolidated statement of operations for the three months ended January 31, 2024 and 2023, condensed consolidated statement of cash flows for the three months ended January 31, 2024 and 2023 and condensed consolidated statement of equity for the three months ended January 31, 2024 and 2023.

Use of Estimates. The preparation of condensed consolidated financial statements in accordance with GAAP in the U.S. requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Although these estimates are based on management’s best knowledge of current events and actions that may impact the company in the future, actual results may be different from the estimates. Our critical accounting policies are those that affect our financial statements materially and involve difficult, subjective or complex judgments by management. Those policies are revenue recognition, valuation of goodwill and purchased intangible assets, inventory valuation, retirement and post-retirement benefit plan assumptions and accounting for income taxes.

Restricted Cash and Restricted Cash Equivalents. Restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. A reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheet follows:
 January 31,October 31,
 20242023
(in millions)
Cash and cash equivalents$1,748 $1,590 
Restricted cash included in other assets2 3 
Total cash, cash equivalents and restricted cash$1,750 $1,593 
Leases. As of January 31, 2024 and October 31, 2023, operating lease right-of-use assets where we are the lessee were $155 million and $154 million, respectively, and were included within other assets in the accompanying condensed consolidated balance sheet. The associated operating lease liabilities were $164 million as of both January 31, 2024 and October 31, 2023, respectively, and were included in other accrued liabilities and other long-term liabilities in the accompanying condensed consolidated balance sheet.

Variable Interest Entities. We make a determination upon entering into an arrangement whether an entity in which we have made an investment is considered a Variable Interest Entity (“VIE”). We evaluate our investments in privately held companies on an ongoing basis. We have determined that as of January 31, 2024, and October 31, 2023, there were no VIEs required to be consolidated in our consolidated financial statements because we do not have a controlling financial interest in any of the VIEs in which we have invested nor are we the primary beneficiary. We account for these investments under either the equity method or as equity investments without readily determinable fair value ("RDFV"), depending on the circumstances. We periodically reassess whether we are the primary beneficiary of a VIE. The reassessment process considers whether we have acquired the power to direct the most significant activities of the VIE through changes in governing documents or other circumstances. We also reconsider whether entities previously determined not to be VIEs have become VIEs and vice-versa, based on changes in facts and circumstances including changes in contractual arrangements and capital structure.

As of both January 31, 2024, and October 31, 2023, the total carrying value of investments and loans in privately held companies considered as VIEs was $82 million. The maximum exposure is equal to the carrying value because we do not have future funding commitments. The investments are included on the long-term investments line and the loans on the other current assets and other assets lines (depending upon tenure of loan) on the condensed consolidated balance sheet.

Fair Value of Financial Instruments. The carrying values of certain of our financial instruments including cash and cash equivalents, accounts receivable, accounts payable, accrued compensation and other accrued liabilities approximate fair value because of their short maturities. The fair value of long-term equity investments which are readily determinable, and which are not accounted under the equity method are reported at fair value using quoted market prices for those securities when available with gains and losses included in net income. The fair value of long-term equity investments which are not readily determinable, and which are not accounted under the equity method are reported at cost with adjustments for observable changes in prices or impairments included in net income. As of January 31, 2024 and October 31, 2023, the fair value of the term loan approximates its carrying value. As of January 31, 2024, the fair value of our senior notes was $1,900 million with a carrying value of $2,135 million. This compares to the fair value of our senior notes of $1,747 million with a carrying value of $2,135 million as of October 31, 2023. The change in the fair value compared to carrying value in the three months ended January 31, 2024 is primarily due to decreased market interest rates. The fair value was calculated from quoted prices which are primarily Level 1 inputs under the accounting guidance. The fair value of foreign currency contracts used for hedging purposes is estimated internally by using inputs tied to active markets. These inputs, for example, interest rate yield curves, foreign exchange rates, and forward and spot prices for currencies are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. See also Note 9, "Fair Value Measurements" for additional information on the fair value of financial instruments and contingent consideration.
v3.24.0.1
NEW ACCOUNTING PRONOUNCEMENTS (Notes)
 3 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
NEW ACCOUNTING PRONOUNCEMENTS NEW ACCOUNTING PRONOUNCEMENTS
There were no additions to the new accounting pronouncements not yet adopted as described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.
Other amendments to GAAP in the U.S. that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our condensed consolidated financial statements upon adoption.
v3.24.0.1
REVENUE (Notes)
 3 Months Ended
Jan. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer REVENUE
The following table presents the company’s total revenue and segment revenue disaggregated by geographical region:
Three Months Ended January 31,
20242023
Life Sciences and Applied MarketsAgilent CrossLab
Diagnostics and Genomics
TotalLife Sciences and Applied MarketsAgilent CrossLab
Diagnostics and Genomics
Total
(in millions)
Revenue by Region
Americas$244 $164 $222 $630 $286 $154 $247 $687 
Europe224 111 123 458 239 98 119 456 
Asia Pacific378 130 62 570 418 129 66 613 
Total$846 $405 $407 $1,658 $943 $381 $432 $1,756 
The following table presents the company’s total revenue disaggregated by end markets and by revenue type:
Three Months Ended
January 31,
20242023
(in millions)
Revenue by End Markets
Pharmaceutical and Biopharmaceutical$565 $639 
Chemicals and Advanced Materials392 406 
Diagnostics and Clinical228 239 
Food157 160 
Academia and Government150 146 
Environmental and Forensics166 166 
Total$1,658 $1,756 
Revenue by Type
Instrumentation$630 $759 
Non-instrumentation and other1,028 997 
Total$1,658 $1,756 

Revenue by region is based on the ship to location of the customer. Revenue by end market is determined by the market indicator of the customer and by customer type. Instrumentation revenue includes sales from instruments, remarketed instruments and third-party products. Non-instrumentation and other revenue include sales from contract and per incident services, our companion diagnostics and our nucleic acid solutions businesses as well as sales from spare parts, consumables, reagents, vacuum pumps, subscriptions, software licenses and associated services.

Contract Balances

Contract Assets

Contract assets (unbilled accounts receivable) primarily relate to the company's right to consideration for work completed but not billed at the reporting date. The unbilled receivables are reclassified to trade receivables when billed to customers. Contract assets are generally classified as current assets and are included in "Accounts receivable, net" in the condensed consolidated balance sheet. The balances of contract assets as of January 31, 2024, and October 31, 2023, were $239 million and $252 million, respectively.
Contract Liabilities

The following table provides information about contract liabilities (deferred revenue) and the significant changes in the balances during the three months ended January 31, 2024:
Contract
Liabilities
(in millions)
Ending balance as of October 31, 2023$616 
Net revenue deferred in the period254 
Revenue recognized that was included in the contract liability balance at the beginning of the period(229)
Change in deferrals from customer cash advances, net of revenue recognized(5)
Currency translation and other adjustments8 
Ending balance as of January 31, 2024$644 

During the three months ended January 31, 2023 revenue recognized that was included in the contract liability balance at October 31, 2022 was $196 million.

Contract liabilities primarily relate to multiple element arrangements for which billing has occurred but transfer of control of all elements to the customer has either partially or not occurred at the balance sheet date. This includes cash received from customers for products and related installation and services in advance of the transfer of control. Contract liabilities are classified as either current in deferred revenue or long-term in other long-term liabilities in the condensed consolidated balance sheet based on the timing of when we expect to complete our performance obligation.

Contract Costs

Incremental costs of obtaining a contract with a customer are recognized as an asset if we expect the benefit of those costs to be longer than one year. We have determined that certain sales incentive programs meet the requirements to be capitalized. The change in total capitalized costs to obtain a contract was immaterial during the three months ended January 31, 2024, and was included in other current and long-term assets on the condensed consolidated balance sheet. We have applied the practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include the company's internal sales force compensation program, as we have determined that annual compensation is commensurate with annual sales activities.

Transaction Price Allocated to the Remaining Performance Obligations

We have applied the practical expedient in ASC 606-10-50-14 and have not disclosed information about transaction price allocated to remaining performance obligations that have original expected durations of one year or less.
The estimated revenue expected to be recognized for remaining performance obligations that have an original term of more than one year, as of January 31, 2024, was $344 million, the majority of which is expected to be recognized over the next 12 months. Remaining performance obligations primarily include extended warranty, customer manufacturing contracts, software maintenance contracts and revenue associated with lease arrangements.
v3.24.0.1
SHARE-BASED COMPENSATION (Notes)
 3 Months Ended
Jan. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
 
We account for share-based awards in accordance with the provisions of the authoritative accounting guidance which requires the measurement and recognition of compensation expense for all share-based payment awards made to our employees and directors including employee stock options, restricted stock units, employee stock purchases made under our employee stock purchase plan and performance share awards granted to selected members of our senior management under the long-term performance plan (“LTPP”) based on estimated fair values.

We have two LTPP performance stock award programs, which are administered under the 2018 Stock Plan, for our executive officers and other key employees. Participants in our LTPP Total Stockholders’ Return (“TSR”) and LTPP Earnings Per Share (“EPS”) programs are entitled to receive shares of the company's stock after the end of a three-year period, if specified performance targets for the programs are met. The LTPP-TSR awards are generally designed to meet the criteria of a
performance award with the performance metrics and peer group comparison based on the TSR set at the beginning of the performance period. The LTPP-EPS awards are based on the company’s EPS performance over a three-year period. The performance targets for the LTPP-EPS for year 2 and year 3 of the performance period are set in the first quarter of year 2 and year 3, respectively. All LTPP awards are subject to a one-year post-vest holding period.

The final LTPP award may vary from 0 percent to 200 percent of the target award. We consider the dilutive impact of these programs in our diluted net income per share calculation only to the extent that the performance conditions are expected to be met. Restricted stock units generally vest, with some exceptions, at a rate of 25 percent per year over a period of four years from the date of grant.

Stock options granted under the 2018 Stock Plan may be either "incentive stock options", as defined in Section 422 of the Internal Revenue Code, or non-statutory. Options generally vest at a rate of 25 percent per year over a period of four years from the date of grant with a maximum contractual term of ten years. The exercise price for stock options is generally not less than 100 percent of the fair market value of our common stock on the date the stock award is granted. We issue new shares of common stock when employee stock options are exercised.
The impact on our results for share-based compensation was as follows:
 
Three Months Ended
January 31,
 20242023
 (in millions)
Cost of products and services$14 $13 
Research and development6 5 
Selling, general and administrative24 26 
Total share-based compensation expense$44 $44 
 
At January 31, 2024 and October 31, 2023, no share-based compensation was capitalized within inventory.
The following assumptions were used to estimate the fair value of awards granted.
 
Three Months Ended
January 31,
 20242023
Stock Option Plans:  
Weighted average risk-free interest rate4.4%3.9%
Dividend yield0.8%0.6%
Weighted average volatility29%28%
Expected life5.5 years5.5 years
LTPP:
Volatility of Agilent shares28%31%
Volatility of selected peer-company shares
16%-70%
22%-84%
Pair-wise correlation with selected peers30%42%
Post-vest holding restriction discount for all executive awards6.4%7.1%
 
The fair value of share-based awards for our employee stock option awards was estimated using the Black-Scholes option pricing model. Shares granted under the LTPP (TSR) were valued using a Monte Carlo simulation model. The Monte Carlo simulation fair value model requires the use of highly subjective and complex assumptions, including the price volatility of the underlying stock.  For the volatility of our LTPP (TSR) grants, we used our own historical stock price volatility.  

The ESPP allows eligible employees to purchase shares of our common stock at 85 percent of the price at purchase and uses the purchase date to establish the fair market value.
We use historical volatility to estimate the expected stock price volatility assumption for employee stock option awards. In reaching the conclusion, we have considered many factors including the extent to which our options are currently traded and our ability to find traded options in the current market with similar terms and prices to the options we are valuing. In estimating the expected life of our options granted, we considered the historical option exercise behavior of our executives, which we believe is representative of future behavior.

The estimated fair value of restricted stock units and LTPP (EPS) awards is determined based on the market price of our common stock on the date of grant adjusted for expected dividend yield. The compensation cost for LTPP (EPS) reflects the cost of awards that are probable to vest at the end of the performance period.
All LTPP awards granted to our senior management employees have a one-year post-vest holding restriction. The estimated discount associated with post-vest holding restrictions is calculated using the Finnerty model. The model calculates the potential lost value if the employees were able to sell the shares during the lack of marketability period, instead of being required to hold the shares. The model used the same historical stock price volatility and dividend yield assumption used for the Monte Carlo simulation model and an expected dividend yield to compute the discount.
v3.24.0.1
INCOME TAXES (Notes)
 3 Months Ended
Jan. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
For the three months ended January 31, 2024, our income tax expense was $55 million with an effective tax rate of 13.6 percent. For the three months ended January 31, 2024, there were no significant discrete items.

For the three months ended January 31, 2023, our income tax expense was $58 million with an effective tax rate of 14.1 percent. For the three months ended January 31, 2023, our effective tax rate and the resulting provision for income taxes were impacted by the excess tax benefits from stock-based compensation of $12 million along with the expiration of various foreign statutes of limitations which resulted in the recognition of previously unrecognized tax benefits of $7 million.

In the U.S., tax years remain open back to the year 2020 for federal income tax purposes and 2019 for significant states. In other major jurisdictions where the company conducts business, the tax years generally remain open back to the year 2014.

With these jurisdictions and the U.S., it is reasonably possible that some tax audits may be completed over the next twelve months. However, management is not able to provide a reasonably reliable estimate of the timing of any other future tax payments or change in unrecognized tax benefits, if any.
v3.24.0.1
NET INCOME PER SHARE (Notes)
 3 Months Ended
Jan. 31, 2024
Earnings Per Share [Abstract]  
NET INCOME PER SHARE NET INCOME PER SHARE
 
The following is a reconciliation of the numerator and denominator of the basic and diluted net income per share computations for the periods presented below:
 
Three Months Ended
January 31,
 20242023
 (in millions)
Numerator:  
Net income$348 $352 
Denominator:
Basic weighted-average shares293 296 
Potential common shares— stock options and other employee stock plans1 1 
Diluted weighted-average shares294 297 
 
The dilutive effect of share-based awards is reflected in diluted net income per share by application of the treasury stock method, which includes consideration of unamortized share-based compensation expense and the dilutive effect of in-the-money options and non-vested restricted stock units. Under the treasury stock method, the amount the employee must pay for exercising stock options and unamortized share-based compensation expense collectively are assumed proceeds to be used to repurchase hypothetical shares. An increase in the fair market value of the company's common stock can result in a greater dilutive effect from potentially dilutive awards.
We exclude stock options with exercise prices greater than the average market price of our common stock from the calculation of diluted earnings per share because their effect would be anti-dilutive. In addition, we exclude from the calculation of diluted earnings per share stock options, ESPP, LTPP and restricted stock awards whose combined exercise price and unamortized fair value were greater than the average market price of our common stock because their effect would also be anti-dilutive.  
For the three months ended January 31, 2024 and 2023, potential common shares excluded from the calculation of diluted earnings per share were not material.
v3.24.0.1
INVENTORY (Notes)
 3 Months Ended
Jan. 31, 2024
Inventory, Net [Abstract]  
INVENTORY INVENTORY
 
Inventory as of January 31, 2024 and October 31, 2023 consisted of the following:

 January 31,
2024		October 31,
2023
 (in millions)
Finished goods$569 $570 
Purchased parts and fabricated assemblies464 461 
Inventory$1,033 $1,031 
v3.24.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Notes)
 3 Months Ended
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
 
The following table presents goodwill balances and the movements for each of our reportable segments during the three months ended January 31, 2024:
 
 Life Sciences and Applied MarketsDiagnostics and GenomicsAgilent CrossLabTotal
 (in millions)
Goodwill as of October 31, 2023$1,579 $2,124 $257 $3,960 
Foreign currency translation impact4 — 3 7 
Goodwill as of January 31, 2024$1,583 $2,124 $260 $3,967 

In the first quarter of fiscal year 2024, we reorganized our operating segments and moved our cell analysis business from our life sciences and applied markets business segment to our diagnostics and genomics business segment. As a result, we reassigned approximately $168 million of goodwill from our life sciences and applied markets business segment to our diagnostics and genomics business segment using the relative fair value allocation approach. Goodwill balances as of October 31, 2023, have been recast to conform to this new presentation. As a result of the reorganization, there was no change to our reporting units. In addition, we performed a goodwill impairment test, and the results of the analysis indicated that the fair values for all three of our reporting units were in excess of their carrying values by substantial amounts; therefore, no impairment was indicated.
The component parts of other intangible assets as of October 31, 2023 and January 31, 2024 are shown in the table below:
 
 Other Intangible Assets
 Gross
Carrying
Amount		Accumulated
Amortization		Net Book
Value
 (in millions)
As of October 31, 2023   
Purchased technology$1,467 $1,093 $374 
Trademark/Tradename196 163 33 
Customer relationships149 112 37 
Third-party technology and licenses34 13 21 
Total amortizable intangible assets1,846 1,381 465 
In-Process R&D10 — 10 
Total$1,856 $1,381 $475 
As of January 31, 2024   
Purchased technology$1,474 $1,114 $360 
Trademark/Tradename196 166 30 
Customer relationships149 115 34 
Third-party technology and licenses34 15 19 
Total amortizable intangible assets1,853 1,410 443 
In-Process R&D— — — 
Total$1,853 $1,410 $443 

During the three months ended January 31, 2024, there were no additions to goodwill and other intangible assets. During the three months ended January 31, 2024, we reclassified $4 million of in-process research and development intangible assets to purchased technology upon the completion of a project. During the three months ended January 31, 2024, there was no change to other intangibles due to the impact of foreign currency.

In general, for U.S. federal tax purposes, goodwill from asset purchases is amortizable; however, any goodwill created as part of a stock acquisition is not deductible. 

Each quarter we review the events and circumstances to determine if impairment of indefinite-lived intangible assets and goodwill is indicated. During the three months ended January 31, 2024, we recorded an impairment of in-process research and development of $6 million in research and development in the condensed consolidated statement of operations related to a project in our life sciences and applied markets segment. During the three months ended January 31, 2023 we did not identify any triggering events or circumstances which would indicate an impairment of goodwill or indefinite-lived intangible assets.

Amortization expense of intangible assets was $26 million and $36 million for the three months ended January 31, 2024 and 2023, respectively.

Future amortization expense related to existing finite-lived purchased intangible assets for the remainder of fiscal year 2024 and for each of the next five fiscal years and thereafter is estimated below:
Estimated future amortization expense:
(in millions)
Remainder of 2024$75 
2025$84 
2026$54 
2027$53 
2028$46 
2029$42 
Thereafter$89 
v3.24.0.1
FAIR VALUE MEASUREMENTS (Notes)
 3 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
 
The authoritative guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, we consider the principal or most advantageous market and assumptions that market participants would use when pricing the asset or liability.

Fair Value Hierarchy

The guidance establishes a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into three levels. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There are three levels of inputs that may be used to measure fair value:

Level 1- applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2- applies to assets or liabilities for which there are inputs other than quoted prices included within level 1 that are observable, either directly or indirectly, for the asset or liability such as: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in less active markets; or other inputs that can be derived principally from, or corroborated by, observable market data.

Level 3- applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
 
Financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 were as follows:
 
  Fair Value Measurement at January 31, 2024 Using
 January 31,
2024
Quoted Prices
 in Active
 Markets for
 Identical Assets
 (Level 1)
Significant
 Other
 Observable
 Inputs
 (Level 2)
Significant
 Unobservable
 Inputs
 (Level 3)
 (in millions)
Assets:    
Short-term    
Cash equivalents (money market funds)$1,102 $1,102 $— $— 
Derivative instruments (foreign exchange contracts)12 — 12 — 
Long-term
Trading securities38 38 — — 
Other investments29 — 29 — 
Total assets measured at fair value$1,181 $1,140 $41 $— 
Liabilities:    
Short-term
Derivative instruments (foreign exchange contracts) $10 $— $10 $— 
Contingent consideration1 — — 1 
Long-term
Deferred compensation liability38 — 38 — 
Total liabilities measured at fair value$49 $— $48 $1 

Financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2023 were as follows:
 
  Fair Value Measurement at October 31, 2023 Using
 October 31,
2023
Quoted Prices
 in Active
 Markets for
 Identical Assets
 (Level 1)
Significant
 Other
 Observable
 Inputs
 (Level 2)
Significant
 Unobservable
 Inputs
 (Level 3)
 (in millions)
Assets:    
Short-term    
Cash equivalents (money market funds)$994 $994 $— $— 
Derivative instruments (foreign exchange contracts)19 — 19 — 
Long-term
Trading securities36 36 — — 
Other investments26 — 26 — 
Total assets measured at fair value$1,075 $1,030 $45 $— 
Liabilities:    
Short-term
Derivative instruments (foreign exchange contracts)$2 $— $2 $— 
Contingent consideration1 — — 1 
Long-term
Deferred compensation liability36 — 36 — 
Total liabilities measured at fair value$39 $— $38 $1 
 
Our money market funds and trading securities are generally valued using quoted market prices and therefore are classified within level 1 of the fair value hierarchy. Our derivative financial instruments are classified within level 2, as there is not an active market for each hedge contract, but the inputs used to calculate the value of the instruments are tied to active markets. Our deferred compensation liability is classified as level 2 because, although the values are not directly based on quoted market prices, the inputs used in the calculations are observable.

Other investments represent shares we own in a special fund that targets underlying investments of approximately 40 percent in debt securities and 60 percent in equity securities. These shares have been classified as level 2 because, although the shares of the fund are not traded on any active stock exchange, each of the individual underlying securities are or can be derived from similar securities traded on an active market and hence we have a readily determinable value for the underlying securities, from which we are able to determine the fair market value for the special fund itself.

Trading securities, which are comprised of mutual funds, bonds and other similar instruments, other investments and deferred compensation liability are reported at fair value, with gains or losses resulting from changes in fair value recognized currently in net income. Certain derivative instruments are reported at fair value, with unrealized gains and losses, net of tax, included in accumulated other comprehensive income (loss) within stockholders' equity. Realized gains and losses from the sale of these instruments are recorded in net income.

Gains and losses reflected in other income (expense), net for our equity investments with readily determinable fair value ("RDFV") and equity investments without RDFV are summarized below:
Three Months Ended
January 31,
20242023
(in millions)
Net gain (loss) recognized during the period on equity securities$3 $(10)
Less: Net gain (loss) on equity securities sold during the period$— $(11)
Unrealized gain (loss) on equity securities $3 $1 

Contingent Consideration. As of January 31, 2024, the fair value of the contingent consideration liability relates to milestone payments in connection with one acquisition.

The contingent consideration liability is our only recurring Level 3 asset or liability. A summary of the Level 3 activity follows:

Three Months Ended
January 31,
20242023
(in millions)
Beginning balance$1 $67 
Additions to contingent consideration (including measurement period adjustment)— — 
Payments— (65)
Change in fair value (included within selling, general and administrative expenses)— 1 
Ending balance$1 $3 

The fair value of the contingent consideration liability as of January 31, 2024, was estimated to be $1 million which was recorded in other accrued liabilities on the condensed consolidated balance sheet. During the three months ended January 31, 2023, we made a contingent consideration payment of $65 million related to the achievement of a certain technical milestone associated with our acquisition of Resolution Bioscience.

Resolution Bioscience. In the third quarter of fiscal year 2023, we decided to exit the Resolution Bioscience business and subsequently divested our interest in the business in the fourth quarter of fiscal year 2023. We project that there are no potential future milestone payments related to the Resolution Bioscience business.

Impairment of Investments. There were no impairments of investments for the three months ended January 31, 2024 and 2023.
 
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

For the three months ended January 31, 2024 long-lived assets held and used with a carrying value of $8 million were written down to their fair value of $0 million resulting in an impairment of $8 million. For the three months ended January 31, 2024, there were no impairments of long-lived assets held for sale. For the three months ended January 31, 2023, there were no impairments of long-lived assets held and used or long-lived assets held for sale.

Non-Marketable Equity Securities

For the three months ended January 31, 2024 and 2023, there were no impairments or unrealized gain (loss) adjustments to the carrying value of non-marketable securities without readily determinable fair value based on an observable market transaction.

As of January 31, 2024, the cumulative net gain (loss) on our non-marketable equity securities without readily determinable fair values was comprised of a $38 million gain and a $29 million loss, and the carrying amount was $102 million. As of January 31, 2023, the cumulative net gain (loss) on our non-marketable equity securities without readily determinable fair values was comprised of a $35 million gain and no losses, and the carrying amount was $126 million.

Fair values for the non-marketable securities included in long-term investments on the condensed consolidated balance sheet were measured using Level 3 inputs because they are primarily equity stock issued by private companies without quoted market prices. To estimate the fair value of our non-marketable securities, we use the measurement alternative to record these investments at cost and adjust for impairments and observable price changes (orderly transactions for the identical or a similar security from the same issuer) as and when they occur.
v3.24.0.1
DERIVATIVES (Notes)
 3 Months Ended
Jan. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES DERIVATIVES
 
We are exposed to foreign currency exchange rate fluctuations and interest rate changes in the normal course of our business. As part of our risk management strategy, we use derivative instruments, primarily forward contracts and purchased options to hedge economic and/or accounting exposures resulting from changes in foreign currency exchange rates.
 
Cash Flow Hedges
 
We enter into foreign exchange contracts to hedge our forecasted operational cash flow exposures resulting from changes in foreign currency exchange rates. These foreign exchange contracts, carried at fair value, have maturities between one and twelve months. These derivative instruments are designated and qualify as cash flow hedges under the criteria prescribed in the authoritative guidance and are assessed for effectiveness against the underlying exposure every reporting period. For open contracts as of January 31, 2024, changes in the time value of the foreign exchange contract are excluded from the assessment of hedge effectiveness and are recognized in cost of sales over the life of the foreign exchange contract. The changes in fair value of the effective portion of the derivative instrument are recognized in accumulated other comprehensive income (loss). Amounts associated with cash flow hedges are reclassified to cost of sales in the condensed consolidated statement of operations when the forecasted transaction occurs. If it becomes probable that the forecasted transaction will not occur, the hedge relationship will be de-designated and amounts accumulated in other comprehensive income (loss) will be reclassified to other income (expense), net in the current period. Changes in the fair value of the ineffective portion of derivative instruments are recognized in other income (expense), net in the condensed consolidated statement of operations in the current period. We record the premium paid (time value) of an option on the date of purchase as an asset. For options designated as cash flow hedges, changes in the time value are excluded from the assessment of hedge effectiveness and are recognized in cost of sales over the life of the option contract. For the three months ended January 31, 2024 and 2023, ineffectiveness and gains and losses recognized in other income (expense), net due to de-designation of cash flow hedge contracts were not significant.

In February 2016, Agilent executed three forward-starting pay fixed/receive variable interest rate swaps for the notional amount of $300 million in connection with future interest payments to be made on our 2026 senior notes issued on September 15, 2016. These derivative instruments were designated and qualified as cash flow hedges under the criteria prescribed in the authoritative guidance. The swap arrangements were terminated on September 15, 2016 with a payment of $10 million, and we recognized this as a deferred loss in accumulated other comprehensive income (loss) which is being amortized to interest expense over the life of the 2026 senior notes. The remaining loss to be amortized related to the interest rate swap agreements at January 31, 2024 was $3 million.
In August 2019, Agilent executed treasury lock agreements for $250 million in connection with future interest payments to be made on our 2029 senior notes issued on September 16, 2019. We designated the treasury lock as a cash flow hedge. The treasury lock contracts were terminated on September 6, 2019, and we recognized a deferred loss of $6 million in accumulated other comprehensive income (loss) which is being amortized to interest expense over the life of the 2029 senior notes. The remaining loss to be amortized related to the treasury lock agreements at January 31, 2024 was $3 million.

Net Investment Hedges

We enter into foreign exchange contracts to hedge net investments in foreign operations to mitigate the risk of adverse movements in exchange rates. These foreign exchange contracts are carried at fair value and are designated and qualify as net investment hedges under the criteria prescribed in the authoritative guidance. Changes in fair value of the effective portion of the derivative instrument are recognized in accumulated other comprehensive income (loss)- translation adjustment and are assessed for effectiveness against the underlying exposure every reporting period. If the company’s net investment changes during the year, the hedge relationship will be assessed and de-designated if the hedge notional amount is outside of prescribed tolerance with a gain/loss reclassified from other comprehensive income (loss) to other income (expense) in the current period. For the three months ended January 31, 2024, ineffectiveness and the resultant effect of any gains or losses recognized in other income (expense) due to de-designation of the hedge contracts were not significant.

Other Hedges
 
Additionally, we enter into foreign exchange contracts to hedge monetary assets and liabilities that are denominated in currencies other than the functional currency of our subsidiaries. These foreign exchange contracts are carried at fair value and do not qualify for hedge accounting treatment and are not designated as hedging instruments. Changes in value of the derivative instruments are recognized in other income (expense), net in the condensed consolidated statement of operations, in the current period, along with the offsetting foreign currency gain or loss on the underlying assets or liabilities.
 
Our use of derivative instruments exposes us to credit risk to the extent that the counterparties may be unable to meet the terms of the agreement. We do, however, seek to mitigate such risks by limiting our counterparties to major financial institutions which are selected based on their credit ratings and other factors. We have established policies and procedures for mitigating credit risk that include establishing counterparty credit limits, monitoring credit exposures, and continually assessing the creditworthiness of counterparties.

A number of our derivative agreements contain threshold limits to the net liability position with counterparties and are dependent on our corporate credit rating determined by the major credit rating agencies. The counterparties to the derivative instruments may request collateralization, in accordance with derivative agreements, on derivative instruments in net liability positions.

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position as of January 31, 2024, was $3 million. The credit-risk-related contingent features underlying these agreements had not been triggered as of January 31, 2024.
The number of open foreign exchange forward contracts and aggregated notional amounts by designation as of January 31, 2024 were as follows:

 Number of Open Forward
Contracts 		Aggregate Notional Amount
USD
Buy/(Sell)
 ($ in millions)
Derivatives designated as hedging instruments:
Cash Flow Hedges
Foreign exchange forward contracts270$(473)
Net Investment Hedges
Foreign exchange forward contracts3$(11)
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts194$(127)


Derivative instruments are subject to master netting arrangements and are disclosed gross in the balance sheet in accordance with the authoritative guidance.
The gross fair values and balance sheet location of derivative instruments held in the condensed consolidated balance sheet as of January 31, 2024, and October 31, 2023, were as follows:

Fair Values of Derivative Instruments
Asset DerivativesLiability Derivatives
 Fair Value Fair Value
Balance Sheet LocationJanuary 31,
2024		October 31, 2023Balance Sheet LocationJanuary 31,
2024		October 31,
2023
(in millions)
Derivatives designated as hedging instruments:     
Cash flow hedges 
Foreign exchange contracts
Other current assets$5 $15 Other accrued liabilities$4 $1 
Net investment hedges
Foreign exchange contracts
Other current assets$— $1 Other accrued liabilities$— $— 
Derivatives not designated as hedging instruments:     
Foreign exchange contracts     
Other current assets$7 $3 Other accrued liabilities$6 $1 
Total derivatives$12 $19  $10 $2 
The effects of derivative instruments for foreign exchange contracts designated as hedging instruments and not designated as hedging instruments in our condensed consolidated statement of operations were as follows:

Three Months Ended
January 31,
20242023
 (in millions)
Derivatives designated as hedging instruments:  
Cash Flow Hedges
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive loss$(10)$(31)
Gain (loss) reclassified from accumulated other comprehensive loss into cost of sales$3 $6 
Gain on time value of forward contracts recorded in cost of sales$2 $2 
Net Investment Hedges
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive loss - translation adjustment$— $(1)
Derivatives not designated as hedging instruments:
Gain (loss) recognized in other income (expense)$(2)$(13)

At January 31, 2024, the amount of existing net gain that is expected to be reclassified from accumulated other comprehensive income (loss) is $6 million. Within the next twelve months it is estimated that $2 million of loss included within the net amount of accumulated other comprehensive income (loss) will be reclassified to cost of sales in respect of cash flow hedges.
v3.24.0.1
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Notes)
 3 Months Ended
Jan. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS
Components of net periodic benefit cost (income). For the three months ended January 31, 2024 and 2023, our net pension and post retirement benefit cost (income) were comprised of the following:
 
Three Months Ended January 31,
 U.S.
Pension Plans		Non-U.S.
Pension Plans		U.S. Post Retirement
Benefit Plans
 202420232024202320242023
 (in millions)
Service cost—benefits earned during the period$— $— $5 $6 $— $— 
Interest cost on benefit obligation5 5 6 6 1 1 
Expected return on plan assets(5)(5)(9)(9)(1)(1)
Amortization of net actuarial (gain) loss1 — (4)(1)— — 
Total net periodic benefit cost (income)$1 $— $(2)$2 $— $— 

The service cost component is recorded in cost of sales and operating expenses in the condensed consolidated statement of operations. All other cost components are recorded in other income (expense), net in the condensed consolidated statement of operations.
Employer contributions and expected future employer contributions for the remainder of the year were as follows:
Three Months Ended Employer Contributions
January 31,For Remainder of Year
202420232024
(in millions)
U.S. defined benefit plans$— $— $— 
Non-U.S. defined benefit plans$6 $5 $12 
v3.24.0.1
WARRANTIES AND CONTINGENCIES (Notes)
 3 Months Ended
Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
WARRANTIES AND CONTINGENCIES WARRANTIES AND CONTINGENCIES
 
Warranties
 
We accrue for standard warranty costs based on historical trends in actual warranty charges over the past 12 months. The accrual is reviewed regularly and periodically adjusted to reflect changes in warranty cost over the period. The standard warranty accrual balances are held in other accrued and other long-term liabilities on our condensed consolidated balance sheet. Our standard warranty terms typically extend to one year from the date of delivery, depending on the product.
 
A summary of the standard warranty accrual activity is shown in the table below:
 
 Three Months Ended
January 31,
 20242023
 (in millions)
Standard warranty accrual, beginning balance$29 $30 
Accruals for warranties including change in estimates15 11 
Settlements made during the period(14)(13)
Standard warranty accrual, ending balance$30 $28 
Accruals for warranties due within one year$30 $28 
 
Bank Guarantees

Guarantees consist primarily of outstanding standby letters of credit and bank guarantees and were approximately $39 million as of January 31, 2024 and October 31, 2023, respectively. A standby letter of credit is a guarantee of payment issued by a bank on behalf of us that is used as payment of last resort should we fail to fulfill a contractual commitment with a third party. A bank guarantee is a promise from a bank or other lending institution that if we default on a loan, the bank will cover the loss.

Contingencies
 
We are involved in lawsuits, claims, investigations and proceedings, including, but not limited to, intellectual property, commercial, real estate, environmental and employment matters, which arise in the ordinary course of business. There are no matters pending that we currently believe are reasonably possible of having a material impact to our business, condensed consolidated financial condition, results of operations or cash flows.
v3.24.0.1
RESTRUCTURING AND OTHER RELATED COSTS
 3 Months Ended
Jan. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure RESTRUCTURING AND OTHER RELATED COSTS
In the fourth quarter of fiscal year 2023, we initiated a restructuring plan ("FY23 Plan") designed to reduce costs and expenses in response to the current macroeconomic conditions. The plan included a reduction of our total headcount by approximately 400 regular employees, representing approximately 2 percent of our global workforce, and the consolidation of our excess facilities, including some site closures.

In connection with this plan, we have recorded approximately $3 million in restructuring and other related costs in the three months ended January 31, 2024, for a total of $49 million since inception. The restructuring plan costs include severance and other personnel costs associated with the workforce reduction. The consolidation of excess facilities includes accelerated depreciation expenses of right-of-use ("ROU") and machinery and equipment assets, and other facilities-related costs. The
timing and scope of the workforce reductions will vary based on local legal requirements. These actions impact all three of our business segments. The costs associated with this restructuring plan have not been allocated to our business segments' results; however, each business segment will benefit from the future cost savings from these actions. When completed, the restructuring program is expected to result in the reduction in annual cost of sales and operating expenses over the three business segments. While the majority of the workforce reduction was completed in the first quarter of 2024, we expect to substantially complete the remaining restructuring activities by the end of fiscal year 2024.

A summary of total restructuring activity is shown in the table below:

Workforce
Reduction		Consolidation of Excess FacilitiesTotal
(in millions)
Balance at October 31, 2023$31 $5 $36 
Income statement expense2 1 3 
Accelerated depreciation expenses of right-of-use assets— (1)(1)
Cash payments(25)(2)(27)
Balance at January 31, 2024$8 $3 $11 

The restructuring and other related costs of $11 million at January 31, 2024, are recorded in other accrued liabilities on the condensed consolidated balance sheet and reflect estimated future cash outlays.

A summary of the charges in the condensed consolidated statement of operations resulting from the restructuring plan is shown below:


Three Months Ended
January 31,
2024
(in millions)
Cost of products and services$— 
Research and Development2 
Selling, general and administrative1 
Total restructuring costs$3 
v3.24.0.1
SHORT-TERM DEBT (Notes)
Jun. 07, 2023
Short-Term Debt [Abstract]  
SHORT-TERM DEBT SHORT-TERM DEBT
 
Credit Facilities
 
On June 7, 2023, we entered into a credit agreement with a group of financial institutions which provides for a $1.5 billion five-year unsecured credit facility that will expire on June 7, 2028 and an incremental revolving credit facility in an aggregate amount of up to $750 million. The credit facility replaced the existing credit facility which was terminated on the closing date of the new facility. During the three months ended January 31, 2024, we made no borrowings or repayments under these credit facilities. As of both January 31, 2024 and October 31, 2023, we had no borrowings outstanding under both the credit facility and the incremental revolving credit facility. We were in compliance with the covenants for the credit facility during the three months ended January 31, 2024.

On June 2, 2023, we entered into an Uncommitted Money Market Line Credit agreement with Societe Generale which provides for an aggregate borrowing capacity of $300 million. The credit facility is an uncommitted short-term cash advance facility where each request must be at least $1 million. The interest rate is set by the lender at the time of the borrowing and is fixed for the duration of the advance. During the three months ended January 31, 2024, we made no borrowings or repayments under this credit facility. As of both January 31, 2024 and October 31, 2023, we had no borrowings outstanding under the credit facility.
Commercial Paper

Under our U.S. commercial paper program, the company may issue and sell unsecured, short-term promissory notes in the aggregate principal amount not to exceed $1.5 billion with up to 397-day maturities. At any point in time, the company intends to maintain available commitments under its revolving credit facility in an amount at least equal to the amount of the commercial paper notes outstanding. Amounts available under the program may be borrowed, repaid and re-borrowed from time to time. The proceeds from issuances under the program may be used for general corporate purposes. During the three months ended January 31, 2024, we made no borrowings or repayments under our commercial paper program. As of both January 31, 2024 and October 31, 2023 we had no borrowings outstanding under our U.S. commercial paper program.
v3.24.0.1
LONG-TERM DEBT (Notes)
 3 Months Ended
Jan. 31, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
 
Term Loan Facility

On April 15, 2022, we entered into a term loan agreement with a group of financial institutions, which provided for a $600 million delayed draw term loan that will mature on April 15, 2025. Loans under the term loan agreement bear interest, at our option, either at: (i) the alternate base rate, as defined in the term loan agreement, plus the applicable margin for such loans or (ii) adjusted term SOFR, as defined in the term loan agreement, plus the applicable margin for such loans. The term loan agreement contains customary representations and warranties as well as customary affirmative and negative covenants. We were in compliance with the covenants for the term loan during the three months ended January 31, 2024.

During the three months ended January 31, 2024, we prepaid a total of $180 million on our term loan. As of January 31, 2024, we had $420 million borrowings outstanding under the term loan facility and had a weighted average interest rate of 6.18 percent. As of October 31, 2023, we had $600 million borrowings outstanding under the term loan facility and had a weighted average interest rate of 6.22 percent.

Senior Notes
 
The following table summarizes the company’s long-term senior notes:
 
 January 31, 2024October 31, 2023
 Amortized
Principal		Amortized
Principal
(in millions)
2026 Senior Notes$299 $299 
2029 Senior Notes496 496 
2030 Senior Notes496 496 
2031 Senior Notes844 844 
Total Senior Notes$2,135 $2,135 
All outstanding notes listed above are unsecured and rank equally in right of payment with all of Agilent’s other senior unsecured indebtedness. There have been no other changes to the principal, maturity, interest rates and interest payment terms of the Agilent senior notes, detailed in the table above, in the three months ended January 31, 2024, as compared to the senior notes described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.
v3.24.0.1
STOCKHOLDERS' EQUITY (Notes)
 3 Months Ended
Jan. 31, 2024
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS EQUITY STOCKHOLDERS' EQUITY
 
Stock Repurchase Program
 
On February 16, 2021 we announced that our board of directors had approved a new share repurchase program (the "2021 repurchase program") designed, among other things, to reduce or eliminate dilution resulting from issuance of stock under the company's employee equity incentive programs. The 2021 repurchase program authorizes the purchase of up to $2.0 billion of our common stock at the company's discretion and has no fixed termination date. The 2021 repurchase program which became effective on February 18, 2021, replaced and terminated the 2019 repurchase program on that date. The 2021 repurchase program does not require the company to acquire a specific number of shares and may be suspended, amended or discontinued
at any time. During the three months ended January 31, 2023, we repurchased and retired 499,000 shares for $75 million under this authorization. On March 1, 2023, the 2021 repurchase program was terminated and the remaining authorization of $339 million expired.

On January 9, 2023, we announced that our board of directors had approved a share repurchase program (the "2023 repurchase program") designed, among other things, to reduce or eliminate dilution resulting from issuance of stock under the company's employee equity incentive programs. The 2023 repurchase program authorizes the purchase of up to $2.0 billion, excluding excise taxes, of our common stock at the company's discretion and has no fixed termination date. The 2023 repurchase program does not require the company to acquire a specific number of shares and may be suspended, amended or discontinued at any time. The 2023 repurchase program commenced on March 1, 2023, and also terminated and replaced the 2021 repurchase program. During the three months ended January 31, 2024, we repurchased and retired no shares under this authorization. As of January 31, 2024, we had remaining authorization to repurchase up to approximately $1.524 billion of our common stock under the 2023 repurchase program.

 
Cash Dividends on Shares of Common Stock
 
During the three months ended January 31, 2024, we paid cash dividends of $0.236 per common share or $69 million on the company's common stock. During the three months ended January 31, 2023, we paid cash dividends of $0.225 per common share or $67 million on the company's common stock.

On February 21, 2024, our board of directors declared a quarterly dividend of $0.236 per share of common stock or approximately $69 million which will be paid on April 24, 2024 to all shareholders of record at the close of business on April 2, 2024. The timing and amounts of any future dividends are subject to determination and approval by our board of directors.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component and related tax effects were as follows (in millions):
Net defined benefit pension cost and post retirement plan costs
Three Months Ended January 31, 2024Foreign currency translationPrior service creditsActuarial LossesUnrealized gains (losses) on derivativesTotal
(in millions)
As of October 31, 2023$(301)$122 $(165)$17 $(327)
Other comprehensive income (loss) before reclassifications29 — 1 (10)20 
Amounts reclassified out of accumulated other comprehensive income (loss)(8)— (3)(3)(14)
Tax benefit— — 1 4 5 
Other comprehensive income (loss)21 — (1)(9)11 
As of January 31, 2024$(280)$122 $(166)$8 $(316)
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended January 31, 2024 and 2023 were as follows (in millions):
Details about accumulated other
comprehensive income (loss) components		Amounts Reclassified from
other comprehensive income (loss)		Affected line item in
statement of operations
Three Months Ended
January 31,
20242023
Foreign currency translation$8 $— Other income (expense)
8 — Total before income tax
— — Provision for income tax
8 — Total net of income tax
Unrealized gain on derivatives3 6 Cost of products
3 6 Total before income tax
(1)(2)Provision for income tax
2 4 Total net of income tax
Net defined benefit pension cost and post retirement plan costs:
Actuarial net gain3 1 Other income (expense)
3 1 Total before income tax
(1)(1)Provision for income tax
2 — Total net of income tax
Total reclassifications for the period$12 $4 

Amounts in parentheses indicate reductions to income and increases to other comprehensive income (loss).

Reclassifications out of accumulated other comprehensive income (loss) of actuarial net gain (loss) in respect of retirement plans and post retirement pension plans are included in the computation of net periodic benefit cost (income) (see Note 11, "Retirement Plans and Post Retirement Pension Plans").
v3.24.0.1
SEGMENT INFORMATION (Notes)
 3 Months Ended
Jan. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
 
Description of segments. We are a global leader in life sciences, diagnostics and applied chemical markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow.
In the first quarter of fiscal year 2024, we announced a change in our operating segments to move our cell analysis business from our life sciences and applied markets segment to our diagnostics and genomics operating segment in order to further strengthen growth opportunities for both organizations. All historical financial segment information has been recast to conform to this new presentation. There was no change to our Agilent CrossLab business segment.
Following this reorganization, we continue to have three business segments comprised of life sciences and applied markets, diagnostics and genomics and Agilent CrossLab, each of which continues to comprise a reportable segment. The three operating segments were determined based primarily on how the chief operating decision maker views and evaluates our operations. Operating results are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and to assess its performance. Other factors, including market separation and customer specific applications, go-to-market channels, products and services and manufacturing are considered in determining the formation of
these operating segments.
A description of our three reportable segments is as follows:
Our life sciences and applied markets business provides application-focused solutions that include instruments, consumables and software that enable customers to identify, quantify and analyze the physical and biological properties of substances and products, as well as enable customers in the clinical and life sciences research areas to interrogate samples at the molecular and cellular level. Key product categories include: liquid chromatography ("LC") systems and components; liquid chromatography mass spectrometry ("LCMS") systems; gas chromatography ("GC") systems and components; gas chromatography mass spectrometry ("GCMS") systems; inductively coupled plasma mass spectrometry ("ICP-MS") instruments; atomic absorption ("AA") instruments; microwave plasma-atomic emission spectrometry ("MP-AES") instruments; inductively coupled plasma optical emission spectrometry ("ICP-OES") instruments; raman spectroscopy; laboratory software for sample tracking; information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps and measurement technologies. Our consumables portfolio is designed to improve customer outcomes. Most of the portfolio is vendor neutral, meaning Agilent can serve and supply customers regardless of their instrument purchase choices. Solutions range from chemistries to supplies. Key product categories in consumables include GC and LC columns, sample preparation products, custom chemistries, and a large selection of laboratory instrument supplies.

Our diagnostics and genomics business is comprised of seven areas of activity providing active pharmaceutical ingredients ("APIs") for oligo-based therapeutics as well as solutions that include reagents, instruments, software and consumables, which enable customers in the clinical and life sciences research areas to interrogate samples at the cellular and molecular level. First, our cell analysis business includes instruments, reagents, software, and labware associated with unique live-cell analysis platforms in addition to mainstream flow cytometers, plate-readers, and plate washers/dispensers which are used across a broad range of applications. Second, our nucleic acid solutions business is a contract and development manufacturing organization that provides services related to and the production of synthesized oligonucleotides under pharmaceutical good manufacturing practices ("GMP") conditions for use as API in a class of drugs that utilize nucleic acid molecules for disease therapy. Third, our pathology solutions business is focused on product offerings for cancer diagnostics and anatomic pathology workflows. The broad portfolio of offerings includes immunohistochemistry ("IHC"), in situ hybridization ("ISH"), hematoxylin and eosin ("H&E") staining and special staining. Fourth, we also collaborate with a number of major pharmaceutical companies to develop new potential tissue pharmacodiagnostics, also known as companion diagnostics, which may be used to identify patients most likely to benefit from a specific targeted therapy. Fifth, the reagent partnership business provides clinical flow cytometry reagents for routine cancer diagnostics. This business also provides bulk antibodies as raw materials and associated assay development services to IVD manufacturers, biotechnology and pharmaceutical companies. Sixth, our genomics business includes arrays and next generation sequencing ("NGS"). This business also includes solutions that enable clinical labs to identify DNA variants associated with genetic disease and help direct cancer therapy. Finally, our biomolecular analysis business provides complete workflow solutions, including instruments, consumables and software, for quality control analysis of nucleic acid samples. Samples are analyzed using quantitative and qualitative techniques to ensure accuracy in further genomics analysis techniques including NGS, utilized in clinical and life science research applications

The Agilent CrossLab business spans the entire lab with its extensive services portfolio, which is designed to improve customer outcomes. The majority of the portfolio is vendor neutral, meaning we can serve and supply customers regardless of their instrument purchase choices. The services portfolio includes repairs, parts, maintenance, installations, training, compliance support, software as a service, asset management, consulting and various other custom services to support the customers' laboratory operations. Custom services are tailored to meet the specific application needs of various industries and to keep instruments fully operational and compliant with the respective industry requirements.

A significant portion of the segments' expenses arise from shared services and infrastructure that we have historically provided to the segments in order to realize economies of scale and to efficiently use resources. These expenses, collectively called corporate charges, include legal, accounting, tax, real estate, insurance services, information technology services, treasury, order administration, other corporate infrastructure expenses, costs of centralized research and development and joint sales and marketing costs. Charges are allocated to the segments, and the allocations have been determined on a basis that we consider to be a reasonable reflection of the utilization of services provided to or benefits received by the segments. In addition, we do not allocate amortization of acquisition-related intangible assets, asset impairments, acquisition and integration costs, transformational initiatives expenses, restructuring and other related costs and certain other charges to the operating margin for each segment because management does not include this information in its measurement of the performance of the operating segments. Transformational initiatives include expenses associated with targeted cost reduction activities such as manufacturing transfers, site consolidations, legal entity and other business reorganizations, in-sourcing or outsourcing of activities.
The following tables reflect the results of our reportable segments under our management reporting system. The performance of each segment is measured based on several metrics, including segment income from operations. These results are used, in part, by the chief operating decision maker in evaluating the performance of, and in allocating resources to, each of the segments.

The profitability of each of the segments is measured after excluding items such as transformational initiatives, acquisition and integration costs, amortization of intangible assets related to business combinations, interest income, interest expense and other items as noted in the reconciliations below:
Three Months Ended
 January 31,
 20242023
 (in millions)
Net Revenue:
Life Sciences and Applied Markets$846 $943 
Diagnostics and Genomics407 432 
Agilent CrossLab405 381 
Total net revenue$1,658 $1,756 
Segment Income From Operations:
Life Sciences and Applied Markets$236 $300 
Diagnostics and Genomics70 73 
Agilent CrossLab122 103 
Total segment income from operations$428 $476 
The following table reconciles segment income from operations to Agilent’s total enterprise income before taxes: 
Three Months Ended
 January 31,
 20242023
 (in millions)
Total segment income from operations$428 $476 
Unallocated costs:
Amortization of intangible assets related to business combinations(26)(36)
Acquisition and integration costs(2)(2)
Transformational initiatives(3)(7)
Asset impairment(8)— 
Change in fair value of contingent consideration— (1)
Restructuring and other related costs(3)— 
Other(2)(4)
Total unallocated costs(44)(50)
Income from operations384 426 
Interest income18 9 
Interest expense(22)(25)
Other income (expense), net (1)
23 — 
Income before taxes, as reported$403 $410 

(1) For the three months ended January 31, 2024, other income (expense), net includes primarily income related to foreign currency translation reclassified out of accumulated comprehensive income (loss) and the defined benefit retirement and post-retirement benefit plans.

The following table reflects segment and unallocated assets. Segment assets include allocations of corporate assets, goodwill, net other intangibles and other assets. Unallocated assets primarily consist of cash, cash equivalents, short-term and long-term investments, deferred tax assets, right-of-use assets and other assets.  
 January 31,
2024		October 31,
2023
(in millions)
Assets:  
Life Sciences and Applied Markets$3,140 $3,161 
Diagnostics and Genomics3,962 3,966 
Agilent CrossLab947 897 
Unallocated Assets2,899 2,739 
Total assets$10,948 $10,763 
v3.24.0.1
SUBSEQUENT EVENTS
 3 Months Ended
Jan. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENT
On February 20, 2024, Michael McMullen, our President and Chief Executive Officer (“CEO”) notified the company that he will retire as President and CEO of the company and as a member of our board of directors on May 1, 2024. From May 1, 2024 through October 31, 2024, Mr. McMullen is expected to continue his employment with the company as a senior advisor.

On February 20, 2024, our board of directors appointed Padraig McDonnell, age 52 and a Senior Vice President of the company, as Chief Operating Officer and CEO-elect. Upon Mr. McMullen’s retirement as President and CEO, our board of directors intends to appoint Mr. McDonnell as CEO. The company also intends to nominate Mr. McDonnell as a member of our board of directors upon Mr. McMullen’s retirement as President and CEO. Since joining Agilent in 1998, Mr. McDonnell has served in a series of progressively more responsible general management positions and has served as Senior Vice President, Agilent and President of Agilent CrossLab Group since 2020.
v3.24.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Pay vs Performance Disclosure    
Net income $ 348 $ 352
v3.24.0.1
Insider Trading Arrangements
 3 Months Ended
Jan. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.0.1
OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
Overview and Basis of Presentation
Overview. Agilent Technologies, Inc. ("we," "Agilent" or the "company"), incorporated in Delaware in May 1999, is a global leader in life sciences, diagnostics and applied chemical markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow.

Our fiscal year-end is October 31, and our fiscal quarters end on January 31, April 30 and July 31. Unless otherwise stated, these dates refer to our fiscal year and fiscal quarters.

New Segment Structure. In the first quarter of fiscal year 2024, we announced a change in our operating segments to move our cell analysis business from our life sciences and applied markets segment to our diagnostics and genomics operating segment in order to further strengthen growth opportunities for both organizations. Following this reorganization, we continue to have three business segments comprised of life sciences and applied markets, diagnostics and genomics and Agilent CrossLab, each of which continues to comprise a reportable segment. We are reporting under this new structure beginning with this Quarterly Report on Form 10-Q for the period ended January 31, 2024. All historical financial segment information has been recast to conform to this new presentation in our financial statements and accompanying notes. There was no change to our Agilent CrossLab business segment.

Basis of Presentation. We have prepared the accompanying financial data for the three months ended January 31, 2024 and 2023 pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the U.S. have been condensed or omitted pursuant to such rules and regulations. The October 31, 2023 condensed balance sheet data was derived from audited financial statements but does not include all the disclosures required in audited financial statements by U.S. GAAP. The accompanying financial data and information should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.

In the opinion of management, the accompanying condensed consolidated financial statements contain all normal and recurring adjustments necessary for a fair statement of our condensed consolidated balance sheet as of January 31, 2024 and October 31, 2023, condensed consolidated statement of comprehensive income (loss) for the three months ended January 31, 2024 and 2023, condensed consolidated statement of operations for the three months ended January 31, 2024 and 2023, condensed consolidated statement of cash flows for the three months ended January 31, 2024 and 2023 and condensed consolidated statement of equity for the three months ended January 31, 2024 and 2023.
Use of Estimates
Use of Estimates. The preparation of condensed consolidated financial statements in accordance with GAAP in the U.S. requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Although these estimates are based on management’s best knowledge of current events and actions that may impact the company in the future, actual results may be different from the estimates. Our critical accounting policies are those that affect our financial statements materially and involve difficult, subjective or complex judgments by management. Those policies are revenue recognition, valuation of goodwill and purchased intangible assets, inventory valuation, retirement and post-retirement benefit plan assumptions and accounting for income taxes.
Restricted Cash and Restricted Cash Equivalents
Restricted Cash and Restricted Cash Equivalents. Restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. A reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheet follows:
 January 31,October 31,
 20242023
(in millions)
Cash and cash equivalents$1,748 $1,590 
Restricted cash included in other assets2 3 
Total cash, cash equivalents and restricted cash$1,750 $1,593 
Leases Leases. As of January 31, 2024 and October 31, 2023, operating lease right-of-use assets where we are the lessee were $155 million and $154 million, respectively, and were included within other assets in the accompanying condensed consolidated balance sheet. The associated operating lease liabilities were $164 million as of both January 31, 2024 and October 31, 2023, respectively, and were included in other accrued liabilities and other long-term liabilities in the accompanying condensed consolidated balance sheet.
Variable Interest Entity
Variable Interest Entities. We make a determination upon entering into an arrangement whether an entity in which we have made an investment is considered a Variable Interest Entity (“VIE”). We evaluate our investments in privately held companies on an ongoing basis. We have determined that as of January 31, 2024, and October 31, 2023, there were no VIEs required to be consolidated in our consolidated financial statements because we do not have a controlling financial interest in any of the VIEs in which we have invested nor are we the primary beneficiary. We account for these investments under either the equity method or as equity investments without readily determinable fair value ("RDFV"), depending on the circumstances. We periodically reassess whether we are the primary beneficiary of a VIE. The reassessment process considers whether we have acquired the power to direct the most significant activities of the VIE through changes in governing documents or other circumstances. We also reconsider whether entities previously determined not to be VIEs have become VIEs and vice-versa, based on changes in facts and circumstances including changes in contractual arrangements and capital structure.

As of both January 31, 2024, and October 31, 2023, the total carrying value of investments and loans in privately held companies considered as VIEs was $82 million. The maximum exposure is equal to the carrying value because we do not have future funding commitments. The investments are included on the long-term investments line and the loans on the other current assets and other assets lines (depending upon tenure of loan) on the condensed consolidated balance sheet.
Fair Value of Financial Instruments
Fair Value of Financial Instruments. The carrying values of certain of our financial instruments including cash and cash equivalents, accounts receivable, accounts payable, accrued compensation and other accrued liabilities approximate fair value because of their short maturities. The fair value of long-term equity investments which are readily determinable, and which are not accounted under the equity method are reported at fair value using quoted market prices for those securities when available with gains and losses included in net income. The fair value of long-term equity investments which are not readily determinable, and which are not accounted under the equity method are reported at cost with adjustments for observable changes in prices or impairments included in net income. As of January 31, 2024 and October 31, 2023, the fair value of the term loan approximates its carrying value. As of January 31, 2024, the fair value of our senior notes was $1,900 million with a carrying value of $2,135 million. This compares to the fair value of our senior notes of $1,747 million with a carrying value of $2,135 million as of October 31, 2023. The change in the fair value compared to carrying value in the three months ended January 31, 2024 is primarily due to decreased market interest rates. The fair value was calculated from quoted prices which are primarily Level 1 inputs under the accounting guidance. The fair value of foreign currency contracts used for hedging purposes is estimated internally by using inputs tied to active markets. These inputs, for example, interest rate yield curves, foreign exchange rates, and forward and spot prices for currencies are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. See also Note 9, "Fair Value Measurements" for additional information on the fair value of financial instruments and contingent consideration.
v3.24.0.1
OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Jan. 31, 2024
Restricted Cash [Abstract]  
Restrictions on Cash and Cash Equivalents
Restricted Cash and Restricted Cash Equivalents. Restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. A reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheet follows:
 January 31,October 31,
 20242023
(in millions)
Cash and cash equivalents$1,748 $1,590 
Restricted cash included in other assets2 3 
Total cash, cash equivalents and restricted cash$1,750 $1,593 
v3.24.0.1
REVENUE (Tables)
 3 Months Ended
Jan. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table presents the company’s total revenue and segment revenue disaggregated by geographical region:
Three Months Ended January 31,
20242023
Life Sciences and Applied MarketsAgilent CrossLab
Diagnostics and Genomics
TotalLife Sciences and Applied MarketsAgilent CrossLab
Diagnostics and Genomics
Total
(in millions)
Revenue by Region
Americas$244 $164 $222 $630 $286 $154 $247 $687 
Europe224 111 123 458 239 98 119 456 
Asia Pacific378 130 62 570 418 129 66 613 
Total$846 $405 $407 $1,658 $943 $381 $432 $1,756 
The following table presents the company’s total revenue disaggregated by end markets and by revenue type:
Three Months Ended
January 31,
20242023
(in millions)
Revenue by End Markets
Pharmaceutical and Biopharmaceutical$565 $639 
Chemicals and Advanced Materials392 406 
Diagnostics and Clinical228 239 
Food157 160 
Academia and Government150 146 
Environmental and Forensics166 166 
Total$1,658 $1,756 
Revenue by Type
Instrumentation$630 $759 
Non-instrumentation and other1,028 997 
Total$1,658 $1,756 
Contract Liabilities and Changes in Balances
The following table provides information about contract liabilities (deferred revenue) and the significant changes in the balances during the three months ended January 31, 2024:
Contract
Liabilities
(in millions)
Ending balance as of October 31, 2023$616 
Net revenue deferred in the period254 
Revenue recognized that was included in the contract liability balance at the beginning of the period(229)
Change in deferrals from customer cash advances, net of revenue recognized(5)
Currency translation and other adjustments8 
Ending balance as of January 31, 2024$644 
v3.24.0.1
SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Jan. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Allocated share-based compensation expense disclosure
The impact on our results for share-based compensation was as follows:
 
Three Months Ended
January 31,
 20242023
 (in millions)
Cost of products and services$14 $13 
Research and development6 5 
Selling, general and administrative24 26 
Total share-based compensation expense$44 $44 
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Text Block]
The following assumptions were used to estimate the fair value of awards granted.
 
Three Months Ended
January 31,
 20242023
Stock Option Plans:  
Weighted average risk-free interest rate4.4%3.9%
Dividend yield0.8%0.6%
Weighted average volatility29%28%
Expected life5.5 years5.5 years
LTPP:
Volatility of Agilent shares28%31%
Volatility of selected peer-company shares
16%-70%
22%-84%
Pair-wise correlation with selected peers30%42%
Post-vest holding restriction discount for all executive awards6.4%7.1%
v3.24.0.1
NET INCOME PER SHARE (Tables)
 3 Months Ended
Jan. 31, 2024
Earnings Per Share [Abstract]  
Reconciliation of the numerators and denominators of the basic and diluted net income per share
The following is a reconciliation of the numerator and denominator of the basic and diluted net income per share computations for the periods presented below:
 
Three Months Ended
January 31,
 20242023
 (in millions)
Numerator:  
Net income$348 $352 
Denominator:
Basic weighted-average shares293 296 
Potential common shares— stock options and other employee stock plans1 1 
Diluted weighted-average shares294 297 
v3.24.0.1
INVENTORY (Tables)
 3 Months Ended
Jan. 31, 2024
Inventory, Net [Abstract]  
INVENTORY INVENTORY
 
Inventory as of January 31, 2024 and October 31, 2023 consisted of the following:

 January 31,
2024		October 31,
2023
 (in millions)
Finished goods$569 $570 
Purchased parts and fabricated assemblies464 461 
Inventory$1,033 $1,031 
v3.24.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 3 Months Ended
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill balances and movements for each reportable segment during the period
The following table presents goodwill balances and the movements for each of our reportable segments during the three months ended January 31, 2024:
 
 Life Sciences and Applied MarketsDiagnostics and GenomicsAgilent CrossLabTotal
 (in millions)
Goodwill as of October 31, 2023$1,579 $2,124 $257 $3,960 
Foreign currency translation impact4 — 3 7 
Goodwill as of January 31, 2024$1,583 $2,124 $260 $3,967 
Components of other intangible assets during the period
The component parts of other intangible assets as of October 31, 2023 and January 31, 2024 are shown in the table below:
 
 Other Intangible Assets
 Gross
Carrying
Amount		Accumulated
Amortization		Net Book
Value
 (in millions)
As of October 31, 2023   
Purchased technology$1,467 $1,093 $374 
Trademark/Tradename196 163 33 
Customer relationships149 112 37 
Third-party technology and licenses34 13 21 
Total amortizable intangible assets1,846 1,381 465 
In-Process R&D10 — 10 
Total$1,856 $1,381 $475 
As of January 31, 2024   
Purchased technology$1,474 $1,114 $360 
Trademark/Tradename196 166 30 
Customer relationships149 115 34 
Third-party technology and licenses34 15 19 
Total amortizable intangible assets1,853 1,410 443 
In-Process R&D— — — 
Total$1,853 $1,410 $443 
Schedule of estimated future amortization expense of finite-lived intangible assets
Future amortization expense related to existing finite-lived purchased intangible assets for the remainder of fiscal year 2024 and for each of the next five fiscal years and thereafter is estimated below:
Estimated future amortization expense:
(in millions)
Remainder of 2024$75 
2025$84 
2026$54 
2027$53 
2028$46 
2029$42 
Thereafter$89 
v3.24.0.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Assets And Liabilities Measured On Recurring Basis
Financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 were as follows:
 
  Fair Value Measurement at January 31, 2024 Using
 January 31,
2024
Quoted Prices
 in Active
 Markets for
 Identical Assets
 (Level 1)
Significant
 Other
 Observable
 Inputs
 (Level 2)
Significant
 Unobservable
 Inputs
 (Level 3)
 (in millions)
Assets:    
Short-term    
Cash equivalents (money market funds)$1,102 $1,102 $— $— 
Derivative instruments (foreign exchange contracts)12 — 12 — 
Long-term
Trading securities38 38 — — 
Other investments29 — 29 — 
Total assets measured at fair value$1,181 $1,140 $41 $— 
Liabilities:    
Short-term
Derivative instruments (foreign exchange contracts) $10 $— $10 $— 
Contingent consideration1 — — 1 
Long-term
Deferred compensation liability38 — 38 — 
Total liabilities measured at fair value$49 $— $48 $1 

Financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2023 were as follows:
 
  Fair Value Measurement at October 31, 2023 Using
 October 31,
2023
Quoted Prices
 in Active
 Markets for
 Identical Assets
 (Level 1)
Significant
 Other
 Observable
 Inputs
 (Level 2)
Significant
 Unobservable
 Inputs
 (Level 3)
 (in millions)
Assets:    
Short-term    
Cash equivalents (money market funds)$994 $994 $— $— 
Derivative instruments (foreign exchange contracts)19 — 19 — 
Long-term
Trading securities36 36 — — 
Other investments26 — 26 — 
Total assets measured at fair value$1,075 $1,030 $45 $— 
Liabilities:    
Short-term
Derivative instruments (foreign exchange contracts)$2 $— $2 $— 
Contingent consideration1 — — 1 
Long-term
Deferred compensation liability36 — 36 — 
Total liabilities measured at fair value$39 $— $38 $1 
Gain (Loss) on Securities
Gains and losses reflected in other income (expense), net for our equity investments with readily determinable fair value ("RDFV") and equity investments without RDFV are summarized below:
Three Months Ended
January 31,
20242023
(in millions)
Net gain (loss) recognized during the period on equity securities$3 $(10)
Less: Net gain (loss) on equity securities sold during the period$— $(11)
Unrealized gain (loss) on equity securities $3 $1 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The contingent consideration liability is our only recurring Level 3 asset or liability. A summary of the Level 3 activity follows:

Three Months Ended
January 31,
20242023
(in millions)
Beginning balance$1 $67 
Additions to contingent consideration (including measurement period adjustment)— — 
Payments— (65)
Change in fair value (included within selling, general and administrative expenses)— 1 
Ending balance$1 $3 
v3.24.0.1
DERIVATIVES (Tables)
 3 Months Ended
Jan. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Aggregated notional amounts by designation
The number of open foreign exchange forward contracts and aggregated notional amounts by designation as of January 31, 2024 were as follows:

 Number of Open Forward
Contracts 		Aggregate Notional Amount
USD
Buy/(Sell)
 ($ in millions)
Derivatives designated as hedging instruments:
Cash Flow Hedges
Foreign exchange forward contracts270$(473)
Net Investment Hedges
Foreign exchange forward contracts3$(11)
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts194$(127)
Gross fair values and balance sheet location of derivative instruments held in the consolidated balance sheet Derivative instruments are subject to master netting arrangements and are disclosed gross in the balance sheet in accordance with the authoritative guidance.
The gross fair values and balance sheet location of derivative instruments held in the condensed consolidated balance sheet as of January 31, 2024, and October 31, 2023, were as follows:

Fair Values of Derivative Instruments
Asset DerivativesLiability Derivatives
 Fair Value Fair Value
Balance Sheet LocationJanuary 31,
2024		October 31, 2023Balance Sheet LocationJanuary 31,
2024		October 31,
2023
(in millions)
Derivatives designated as hedging instruments:     
Cash flow hedges 
Foreign exchange contracts
Other current assets$5 $15 Other accrued liabilities$4 $1 
Net investment hedges
Foreign exchange contracts
Other current assets$— $1 Other accrued liabilities$— $— 
Derivatives not designated as hedging instruments:     
Foreign exchange contracts     
Other current assets$7 $3 Other accrued liabilities$6 $1 
Total derivatives$12 $19  $10 $2 
Effect of derivative instruments for foreign exchange contracts in the consolidated statement of operations
The effects of derivative instruments for foreign exchange contracts designated as hedging instruments and not designated as hedging instruments in our condensed consolidated statement of operations were as follows:
Three Months Ended
January 31,
20242023
 (in millions)
Derivatives designated as hedging instruments:  
Cash Flow Hedges
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive loss$(10)$(31)
Gain (loss) reclassified from accumulated other comprehensive loss into cost of sales$3 $6 
Gain on time value of forward contracts recorded in cost of sales$2 $2 
Net Investment Hedges
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive loss - translation adjustment$— $(1)
Derivatives not designated as hedging instruments:
Gain (loss) recognized in other income (expense)$(2)$(13)
v3.24.0.1
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Tables)
 3 Months Ended
Jan. 31, 2024
Defined Benefit Plan, Net Periodic Benefit Cost (Income)  
Schedule of net pension and post-retirement benefit costs
Components of net periodic benefit cost (income). For the three months ended January 31, 2024 and 2023, our net pension and post retirement benefit cost (income) were comprised of the following:
 
Three Months Ended January 31,
 U.S.
Pension Plans		Non-U.S.
Pension Plans		U.S. Post Retirement
Benefit Plans
 202420232024202320242023
 (in millions)
Service cost—benefits earned during the period$— $— $5 $6 $— $— 
Interest cost on benefit obligation5 5 6 6 1 1 
Expected return on plan assets(5)(5)(9)(9)(1)(1)
Amortization of net actuarial (gain) loss1 — (4)(1)— — 
Total net periodic benefit cost (income)$1 $— $(2)$2 $— $— 

The service cost component is recorded in cost of sales and operating expenses in the condensed consolidated statement of operations. All other cost components are recorded in other income (expense), net in the condensed consolidated statement of operations.
Employer Contributions and Expected Employer Contributions
Employer contributions and expected future employer contributions for the remainder of the year were as follows:
Three Months Ended Employer Contributions
January 31,For Remainder of Year
202420232024
(in millions)
U.S. defined benefit plans$— $— $— 
Non-U.S. defined benefit plans$6 $5 $12 
v3.24.0.1
WARRANTIES AND CONTINGENCIES (Table)
 3 Months Ended
Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Standard warranty
A summary of the standard warranty accrual activity is shown in the table below:
 
 Three Months Ended
January 31,
 20242023
 (in millions)
Standard warranty accrual, beginning balance$29 $30 
Accruals for warranties including change in estimates15 11 
Settlements made during the period(14)(13)
Standard warranty accrual, ending balance$30 $28 
Accruals for warranties due within one year$30 $28 
v3.24.0.1
RESTRUCTURING AND OTHER RELATED COSTS (Tables)
 3 Months Ended
Jan. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve by Type of Cost
A summary of total restructuring activity is shown in the table below:

Workforce
Reduction		Consolidation of Excess FacilitiesTotal
(in millions)
Balance at October 31, 2023$31 $5 $36 
Income statement expense2 1 3 
Accelerated depreciation expenses of right-of-use assets— (1)(1)
Cash payments(25)(2)(27)
Balance at January 31, 2024$8 $3 $11 
Restructuring and related costs by statement of operations caption
A summary of the charges in the condensed consolidated statement of operations resulting from the restructuring plan is shown below:


Three Months Ended
January 31,
2024
(in millions)
Cost of products and services$— 
Research and Development2 
Selling, general and administrative1 
Total restructuring costs$3 
v3.24.0.1
LONG-TERM DEBT (Tables)
 3 Months Ended
Jan. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Senior Notes
The following table summarizes the company’s long-term senior notes:
 
 January 31, 2024October 31, 2023
 Amortized
Principal		Amortized
Principal
(in millions)
2026 Senior Notes$299 $299 
2029 Senior Notes496 496 
2030 Senior Notes496 496 
2031 Senior Notes844 844 
Total Senior Notes$2,135 $2,135 
v3.24.0.1
STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Jan. 31, 2024
Schedule of Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive income (loss) by component and related tax effects were as follows (in millions):
Net defined benefit pension cost and post retirement plan costs
Three Months Ended January 31, 2024Foreign currency translationPrior service creditsActuarial LossesUnrealized gains (losses) on derivativesTotal
(in millions)
As of October 31, 2023$(301)$122 $(165)$17 $(327)
Other comprehensive income (loss) before reclassifications29 — 1 (10)20 
Amounts reclassified out of accumulated other comprehensive income (loss)(8)— (3)(3)(14)
Tax benefit— — 1 4 5 
Other comprehensive income (loss)21 — (1)(9)11 
As of January 31, 2024$(280)$122 $(166)$8 $(316)
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended January 31, 2024 and 2023 were as follows (in millions):
Details about accumulated other
comprehensive income (loss) components		Amounts Reclassified from
other comprehensive income (loss)		Affected line item in
statement of operations
Three Months Ended
January 31,
20242023
Foreign currency translation$8 $— Other income (expense)
8 — Total before income tax
— — Provision for income tax
8 — Total net of income tax
Unrealized gain on derivatives3 6 Cost of products
3 6 Total before income tax
(1)(2)Provision for income tax
2 4 Total net of income tax
Net defined benefit pension cost and post retirement plan costs:
Actuarial net gain3 1 Other income (expense)
3 1 Total before income tax
(1)(1)Provision for income tax
2 — Total net of income tax
Total reclassifications for the period$12 $4 
v3.24.0.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Jan. 31, 2024
Segment Reporting [Abstract]  
Segment Profitability and Segment Assets
The profitability of each of the segments is measured after excluding items such as transformational initiatives, acquisition and integration costs, amortization of intangible assets related to business combinations, interest income, interest expense and other items as noted in the reconciliations below:
Three Months Ended
 January 31,
 20242023
 (in millions)
Net Revenue:
Life Sciences and Applied Markets$846 $943 
Diagnostics and Genomics407 432 
Agilent CrossLab405 381 
Total net revenue$1,658 $1,756 
Segment Income From Operations:
Life Sciences and Applied Markets$236 $300 
Diagnostics and Genomics70 73 
Agilent CrossLab122 103 
Total segment income from operations$428 $476 
The following table reflects segment and unallocated assets. Segment assets include allocations of corporate assets, goodwill, net other intangibles and other assets. Unallocated assets primarily consist of cash, cash equivalents, short-term and long-term investments, deferred tax assets, right-of-use assets and other assets.  
 January 31,
2024		October 31,
2023
(in millions)
Assets:  
Life Sciences and Applied Markets$3,140 $3,161 
Diagnostics and Genomics3,962 3,966 
Agilent CrossLab947 897 
Unallocated Assets2,899 2,739 
Total assets$10,948 $10,763 
Reconciliation of segment results to total enterprise results
The following table reconciles segment income from operations to Agilent’s total enterprise income before taxes: 
Three Months Ended
 January 31,
 20242023
 (in millions)
Total segment income from operations$428 $476 
Unallocated costs:
Amortization of intangible assets related to business combinations(26)(36)
Acquisition and integration costs(2)(2)
Transformational initiatives(3)(7)
Asset impairment(8)— 
Change in fair value of contingent consideration— (1)
Restructuring and other related costs(3)— 
Other(2)(4)
Total unallocated costs(44)(50)
Income from operations384 426 
Interest income18 9 
Interest expense(22)(25)
Other income (expense), net (1)
23 — 
Income before taxes, as reported$403 $410 
(1) For the three months ended January 31, 2024, other income (expense), net includes primarily income related to foreign currency translation reclassified out of accumulated comprehensive income (loss) and the defined benefit retirement and post-retirement benefit plans.
v3.24.0.1
OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Jan. 31, 2023
Oct. 31, 2022
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents        
Cash and cash equivalents $ 1,748 $ 1,590    
Restricted Cash included in other assets 2 3    
Cash, cash equivalents, restricted cash and restricted cash equivalents 1,750 1,593 $ 1,253 $ 1,056
Operating Leases        
Right-of-Use Asset $ 155 $ 154    
Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets    
Operating lease liability $ 164 $ 164    
Operating Lease Liability, Statement of Financial Position [Extensible Enumeration] Other accrued liabilities, Other long-term liabilities Other accrued liabilities, Other long-term liabilities    
Fair Value of Financial Instruments        
Carrying Value of Senior Notes $ 2,135 $ 2,135    
Variable Interest Entity        
Noncontrolling Interest in Variable Interest Entity 82 82    
Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes        
Fair Value of Financial Instruments        
Fair Value of Senior Notes $ 1,900 $ 1,747    
v3.24.0.1
REVENUE- Revenue by Region (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Net revenue $ 1,658 $ 1,756
Life Sciences and Applied Markets    
Net revenue 846 943
Agilent CrossLab    
Net revenue 405 381
Diagnostics and Genomics    
Net revenue 407 432
Americas    
Net revenue 630 687
Americas | Life Sciences and Applied Markets    
Net revenue 244 286
Americas | Agilent CrossLab    
Net revenue 164 154
Americas | Diagnostics and Genomics    
Net revenue 222 247
Europe    
Net revenue 458 456
Europe | Life Sciences and Applied Markets    
Net revenue 224 239
Europe | Agilent CrossLab    
Net revenue 111 98
Europe | Diagnostics and Genomics    
Net revenue 123 119
Asia Pacific    
Net revenue 570 613
Asia Pacific | Life Sciences and Applied Markets    
Net revenue 378 418
Asia Pacific | Agilent CrossLab    
Net revenue 130 129
Asia Pacific | Diagnostics and Genomics    
Net revenue $ 62 $ 66
v3.24.0.1
REVENUE - Revenue by End Markets (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Net revenue $ 1,658 $ 1,756
Pharmaceutical and Biopharmaceutical    
Net revenue 565 639
Chemicals and Advanced Materials    
Net revenue 392 406
Diagnostics and Clinical    
Net revenue 228 239
Food    
Net revenue 157 160
Academia and Government    
Net revenue 150 146
Environmental and Forensics    
Net revenue $ 166 $ 166
v3.24.0.1
REVENUE - Revenue by Type (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Net revenue $ 1,658 $ 1,756
Instrumentation    
Net revenue 630 759
Non-Instrumentation and Other    
Net revenue $ 1,028 $ 997
v3.24.0.1
REVENUE - Contract Assets and Liability (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Oct. 31, 2023
Contract Asset      
Contract Assets (Unbilled Accounts Receivable) $ 239   $ 252
Contract Liability      
Contract liability ending balance as of October 31, 2023 616    
Net revenue deferred in the period 254    
Revenue recognized that was included in the contract liability balance at the beginning of the period (229) $ (196)  
Change in deferrals from customer cash advances, net of revenue recognized (5)    
Currency Translation and Other Adjustment 8    
Contract liability ending balance as of January 31, 2024 $ 644    
v3.24.0.1
REVENUE - Remaining Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-31
$ in Millions
Jan. 31, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation expected timing of satisfaction period 12 months
Remaining performance obligation amount $ 344
v3.24.0.1
SHARE-BASED COMPENSATION Text (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Oct. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award      
ESPP plan purchase price (in hundredths) 85.00% 85.00%  
Inventory      
Share-based Compensation Arrangement by Share-based Payment Award      
Share-based compensation capitalized in inventory $ 0   $ 0
Share-based Payment Arrangement, Option [Member]      
Share-based Compensation Arrangement by Share-based Payment Award      
Vesting percentage 25.00% 25.00%  
Vesting Period 4 years 4 years  
Maximum contractual term, Expiration Period 10 years 10 years  
Exercise Price of Common Stock, Percent of FMV 100.00% 100.00%  
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award      
Vesting percentage 25.00% 25.00%  
Vesting Period 4 years 4 years  
Minimum | Performance Shares [LTPP]      
Share-based Compensation Arrangement by Share-based Payment Award      
Vesting percentage 0.00% 0.00%  
Maximum | Performance Shares [LTPP]      
Share-based Compensation Arrangement by Share-based Payment Award      
Vesting percentage 200.00% 200.00%  
v3.24.0.1
SHARE-BASED COMPENSATION Allocated Share-based compensation expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs    
Share-based compensation expense $ 44 $ 44
Cost of Products and Services    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs    
Share-based compensation expense 14 13
Research and Development    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs    
Share-based compensation expense 6 5
Selling, General and Administrative    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs    
Share-based compensation expense $ 24 $ 26
v3.24.0.1
SHARE-BASED COMPENSATION Fair Value Assumptions (Details)
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Share-based Payment Arrangement, Option [Member]    
Share-based Compensation Arrangement by Share-based Payment Award    
Weighted average risk-free interest rate 4.40% 3.90%
Dividend yield 0.80% 0.60%
Weighted average volatility 29.00% 28.00%
Expected Life 5 years 6 months 5 years 6 months
LTPP    
Share-based Compensation Arrangement by Share-based Payment Award    
Volatility of Agilent shares 28.00% 31.00%
Volatility of selected peer-company shares - Minimum 16.00% 22.00%
Volatility of selected peer-company shares - Maximum 70.00% 84.00%
Pair-wise correlation with selected peers (in hundredths) 30.00% 42.00%
LTPP & RSU    
Share-based Compensation Arrangement by Share-based Payment Award    
Post-vest holding restriction discount for all executive awards 6.40% 7.10%
v3.24.0.1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Income Tax Disclosure    
Provision (benefit) for income taxes $ 55 $ 58
Effective income tax rate 13.60% 14.10%
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations   $ 7
Excess tax benefit from stock based compensation   $ (12)
v3.24.0.1
NET INCOME PER SHARE (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Numerator:    
Net income $ 348 $ 352
Denominators:    
Basic weighted-average shares 293 296
Potential common shares - stock options and other employee stock plans 1 1
Diluted weighted average shares 294 297
Anti-dilutive shares excluded from computation of dilutive earnings per share (in shares) 0 0
v3.24.0.1
INVENTORY (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Inventory, Net [Abstract]    
Finished goods $ 569 $ 570
Purchased parts and fabricated assemblies 464 461
Inventory $ 1,033 $ 1,031
v3.24.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Roll forward (Details)
$ in Millions
 3 Months Ended
Jan. 31, 2024
USD ($)
Goodwill Roll Forward  
Goodwill beginning balance $ 3,960
Foreign currency translation impact 7
Goodwill ending balance 3,967
Life Sciences and Applied Markets  
Goodwill Roll Forward  
Goodwill reassigned to (from) segment (168)
Goodwill beginning balance 1,579
Foreign currency translation impact 4
Goodwill ending balance 1,583
Diagnostics and Genomics  
Goodwill Roll Forward  
Goodwill reassigned to (from) segment 168
Goodwill beginning balance 2,124
Foreign currency translation impact 0
Goodwill ending balance 2,124
Agilent CrossLab  
Goodwill Roll Forward  
Goodwill beginning balance 257
Foreign currency translation impact 3
Goodwill ending balance $ 260
v3.24.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS Disclosures and Components of Purchased Other Intangibles (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Finite-Lived Intangible Assets, Net    
Gross Carrying Amount $ 1,853 $ 1,846
Total Intangible Assets 1,853 1,856
Accumulated Amortization 1,410 1,381
Net Book Value 443 475
Finite-Lived Intangible Assets, Net 443 465
Purchased Technology    
Finite-Lived Intangible Assets, Net    
Gross Carrying Amount 1,474 1,467
Accumulated Amortization 1,114 1,093
Net Book Value 360 374
Trademark/Tradenames    
Finite-Lived Intangible Assets, Net    
Gross Carrying Amount 196 196
Accumulated Amortization 166 163
Net Book Value 30 33
Customer Relationships    
Finite-Lived Intangible Assets, Net    
Gross Carrying Amount 149 149
Accumulated Amortization 115 112
Net Book Value 34 37
Third-Party Technology and Licenses    
Finite-Lived Intangible Assets, Net    
Gross Carrying Amount 34 34
Accumulated Amortization 15 13
Net Book Value 19 21
In-Process R&D    
Indefinite-Lived Intangible Assets (Excluding Goodwill)    
In-Process R&D $ 0 $ 10
v3.24.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS Textuals (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Finite-Lived Intangible Assets    
Additions to goodwill $ 0  
Addition to other intangible assets 0  
Foreign currency translation impact on other intangible assets 0  
Goodwill impairment 0 $ 0
Impairment of IPR&D 6 0
Amortization of intangible assets during the period 26 $ 36
Indefinite-Lived Intangible Assets, Period Increase (Decrease) $ (4)  
v3.24.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS - Estimated Future Amortization (Details)
$ in Millions
Jan. 31, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Remainder of 2024 $ 75
2025 84
2026 54
2027 53
2028 46
2029 42
Thereafter $ 89
v3.24.0.1
FAIR VALUE MEASUREMENTS, Fair value of assets and liabilities measured on a recurring basis (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Jan. 31, 2023
Oct. 31, 2022
Liabilities        
Contingent Consideration $ 1 $ 1 $ 3 $ 67
Fair Value, Measurements, Recurring        
Assets        
Total assets measured at fair value 1,181 1,075    
Liabilities        
Total liabilities measured at fair value 49 39    
Fair Value, Measurements, Recurring | Other Current Assets        
Assets        
Cash equivalents (money market funds) 1,102 994    
Derivative instruments (foreign exchange contracts) 12 19    
Fair Value, Measurements, Recurring | Other assets        
Assets        
Trading securities 38 36    
Other investments 29 26    
Fair Value, Measurements, Recurring | Other accrued liabilities        
Liabilities        
Derivative instruments (foreign exchange contracts) 10 2    
Contingent Consideration 1 1    
Fair Value, Measurements, Recurring | Other long-term liabilities        
Liabilities        
Deferred compensation liability 38 36    
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)        
Assets        
Total assets measured at fair value 1,140 1,030    
Liabilities        
Total liabilities measured at fair value 0 0    
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Current Assets        
Assets        
Cash equivalents (money market funds) 1,102 994    
Derivative instruments (foreign exchange contracts) 0 0    
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other assets        
Assets        
Trading securities 38 36    
Other investments 0 0    
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other accrued liabilities        
Liabilities        
Derivative instruments (foreign exchange contracts) 0 0    
Contingent Consideration 0 0    
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other long-term liabilities        
Liabilities        
Deferred compensation liability 0 0    
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)        
Assets        
Total assets measured at fair value 41 45    
Liabilities        
Total liabilities measured at fair value 48 38    
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other Current Assets        
Assets        
Cash equivalents (money market funds) 0 0    
Derivative instruments (foreign exchange contracts) 12 19    
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other assets        
Assets        
Trading securities 0 0    
Other investments 29 26    
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other accrued liabilities        
Liabilities        
Derivative instruments (foreign exchange contracts) 10 2    
Contingent Consideration 0 0    
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other long-term liabilities        
Liabilities        
Deferred compensation liability 38 36    
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)        
Assets        
Total assets measured at fair value 0 0    
Liabilities        
Total liabilities measured at fair value 1 1    
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other Current Assets        
Assets        
Cash equivalents (money market funds) 0 0    
Derivative instruments (foreign exchange contracts) 0 0    
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other assets        
Assets        
Trading securities 0 0    
Other investments 0 0    
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other accrued liabilities        
Liabilities        
Derivative instruments (foreign exchange contracts) 0 0    
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other accrued liabilities | Resolution Bioscience, Inc.        
Liabilities        
Contingent Consideration 1 1    
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other long-term liabilities        
Liabilities        
Deferred compensation liability $ 0 $ 0    
v3.24.0.1
FAIR VALUE MEASUREMENTS - Equity Securities and Investments (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Fair Value Disclosures [Abstract]    
Net gain (loss) on equity securities $ 3 $ (10)
Equity Securities, FV-NI, Realized Gain (Loss) 0 (11)
Unrealized gain (loss) on equity securities 3 1
Impairment of Investments $ 0 $ 0
v3.24.0.1
FAIR VALUE MEASUREMENTS - Reconciliation of Beginning and Ending Level 3 Contingent Consideration Liability (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Fair Value Disclosures [Abstract]    
Fair Value Contingent Consideration, Beginning Balance $ 1 $ 67
Additions to contingent consideration (including measurement period adjustment) 0 0
Payments of contingent consideration 0 (65)
Change in fair value (included within SG&A) 0 1
Fair Value Contingent Consideration, Ending Balance $ 1 $ 3
v3.24.0.1
FAIR VALUE MEASUREMENTS, Assets and Liabilities measured at Fair Value on a Non-Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Long-Lived Assets    
Impairment of Long-Lived Assets Held-for-use $ 8 $ 0
Carrying value of impaired long-lived assets held for use 8  
Fair value of impaired long-lived assets held for use 0  
Impairment of Long-Lived assets Held for sale $ 0 $ 0
v3.24.0.1
FAIR VALUE MEASUREMENTS, Non Marketable Securities (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Fair Value Disclosures [Abstract]    
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount $ 0 $ 0
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount 0 0
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount 0 0
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount 38 35
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Cumulative Amount 29 0
Non-marketable equity securities carrying amount $ 102 $ 126
v3.24.0.1
DERIVATIVES- Text (Details)
$ in Millions
 3 Months Ended
Sep. 06, 2019
USD ($)
Sep. 15, 2016
USD ($)
Jan. 31, 2024
USD ($)
Aug. 16, 2019
USD ($)
Feb. 01, 2016
USD ($)
contracts
Derivative Instruments and Hedging Activities Disclosure          
Aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position     $ 3    
Senior Notes 2026 | Interest Rate Swap | Derivatives Designated as Hedging Instrument | Cash Flow Hedging          
Terminated Derivative Contracts          
Number of interest rate swap contracts terminated | contracts         3
Derivative, Notional Amount         $ 300
Remaining Gain (Loss) Reclassification from Accumulated OCI to be amortized to Income,   $ (10) (3)    
Senior Notes 2029 | Treasury Lock [Member] | Derivatives Designated as Hedging Instrument | Cash Flow Hedging          
Terminated Derivative Contracts          
Derivative, Notional Amount       $ 250  
Remaining Gain (Loss) Reclassification from Accumulated OCI to be amortized to Income, $ (6)   $ (3)    
v3.24.0.1
DERIVATIVES- Foreign Exchange Forward Contracts (Details)
$ in Millions
Jan. 31, 2024
USD ($)
contracts
Derivatives Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Forward  
Derivative  
Number of foreign exchange forward contracts (in units) | contracts 270
Derivatives Designated as Hedging Instrument | Net Investment Hedging | Foreign Exchange Forward  
Derivative  
Number of foreign exchange forward contracts (in units) | contracts 3
Derivatives Not Designated as Hedging Instruments | Foreign Exchange Forward  
Derivative  
Number of foreign exchange forward contracts (in units) | contracts 194
Sell | Derivatives Designated as Hedging Instrument | Cash Flow Hedging | Forward Contracts USD  
Derivative  
Derivative, Notional Amount | $ $ 473
Sell | Derivatives Designated as Hedging Instrument | Net Investment Hedging | Forward Contracts USD  
Derivative  
Derivative, Notional Amount | $ 11
Sell | Derivatives Not Designated as Hedging Instruments | Forward Contracts USD  
Derivative  
Derivative, Notional Amount | $ $ 127
v3.24.0.1
DERIVATIVES, Fair value of derivative instruments and Consolidated Balance Sheet location (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Derivative Fair Value by Balance Sheet Location    
Derivatives asset fair value $ 12 $ 19
Derivatives liabilities fair value 10 2
Derivatives Designated as Hedging Instruments | Cash Flow Hedging | Foreign Exchange Contracts | Other Current Assets    
Derivative Fair Value by Balance Sheet Location    
Derivatives asset fair value 5 15
Derivatives Designated as Hedging Instruments | Cash Flow Hedging | Foreign Exchange Contracts | Other Accrued Liabilities    
Derivative Fair Value by Balance Sheet Location    
Derivatives liabilities fair value 4 1
Derivatives Designated as Hedging Instruments | Net Investment Hedging | Foreign Exchange Contracts | Other Current Assets    
Derivative Fair Value by Balance Sheet Location    
Derivatives asset fair value 0 1
Derivatives Designated as Hedging Instruments | Net Investment Hedging | Foreign Exchange Contracts | Other Accrued Liabilities    
Derivative Fair Value by Balance Sheet Location    
Derivatives liabilities fair value 0 0
Derivatives Not Designated as Hedging Instruments | Foreign Exchange Contracts | Other Current Assets    
Derivative Fair Value by Balance Sheet Location    
Derivatives asset fair value 7 3
Derivatives Not Designated as Hedging Instruments | Foreign Exchange Contracts | Other Accrued Liabilities    
Derivative Fair Value by Balance Sheet Location    
Derivatives liabilities fair value $ 6 $ 1
v3.24.0.1
DERIVATIVES, Effect of derivative instruments on Consolidated Statement of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Derivative    
Gain (loss) reclassified from accumulated other comprehensive loss into cost of sales $ 3 $ 6
Gain (Loss) Reclassified from AOCI into cost of sales [Extensible Enumeration] Cost of revenue Cost of revenue
Derivatives Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contracts    
Derivative    
Gain (loss) reclassified from accumulated other comprehensive loss into cost of sales $ 3 $ 6
Gain (Loss) Reclassified from AOCI into cost of sales [Extensible Enumeration] Cost of revenue Cost of revenue
Gain (loss) recognized $ 2 $ 2
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of revenue Cost of revenue
Derivatives Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contracts | Accumulated Other Comprehensive Income (Loss)    
Derivative    
Gain (loss) recognized in accumulated other comprehensive loss $ (10) $ (31)
Derivatives Designated as Hedging Instrument | Net Investment Hedging | Foreign Exchange Contracts | Accumulated Other Comprehensive Income (Loss)    
Derivative    
Gain (loss) recognized in accumulated other comprehensive loss - translation adjustment 0 (1)
Derivatives Not Designated as Hedging Instruments    
Derivative    
Gain (loss) recognized $ (2) $ (13)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other income (expense), net Other income (expense), net
v3.24.0.1
Derivative Instruments and Hedging Activities (Details) - Cash Flow Hedging
$ in Millions
 3 Months Ended
Jan. 31, 2024
USD ($)
Derivative  
Net gain to be reclassified within next Twelve Months $ 6
Cost of Products and Services  
Derivative  
Net gain to be reclassified within next Twelve Months $ 2
v3.24.0.1
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS- Components of net periodic costs (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Pension Plan | United States    
Defined Benefit Plan, Net Periodic Benefit Cost (Income)    
Service cost - benefits earned during the period $ 0 $ 0
Interest cost on benefit obligation 5 5
Expected return on plan assets (5) (5)
Amortization of net actuarial (gain) loss 1 0
Total net periodic benefit cost (income) 1 0
Pension Plan | Foreign Plan    
Defined Benefit Plan, Net Periodic Benefit Cost (Income)    
Service cost - benefits earned during the period 5 6
Interest cost on benefit obligation 6 6
Expected return on plan assets (9) (9)
Amortization of net actuarial (gain) loss (4) (1)
Total net periodic benefit cost (income) (2) 2
Other Postretirement Benefits Plan | United States    
Defined Benefit Plan, Net Periodic Benefit Cost (Income)    
Service cost - benefits earned during the period 0 0
Interest cost on benefit obligation 1 1
Expected return on plan assets (1) (1)
Amortization of net actuarial (gain) loss 0 0
Total net periodic benefit cost (income) $ 0 $ 0
v3.24.0.1
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Details) (Employer Contributions)) - Pension Plan - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
United States    
Defined Benefit Plan Disclosure    
Employer Contributions $ 0 $ 0
Expected future employer contributions 0  
Foreign Plan    
Defined Benefit Plan Disclosure    
Employer Contributions 6 $ 5
Expected future employer contributions $ 12  
v3.24.0.1
WARRANTIES AND CONTINGENCIES (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Oct. 31, 2023
Movement in Standard Product Warranty Accrual      
Beginning balance $ 29 $ 30  
Accruals for warranties including change in estimate 15 11  
Settlements made during the period (14) (13)  
Ending balance at end of period 30 28  
Standard Product Warranty Disclosure      
Accruals for warranties due within one year 30 $ 28  
Guarantees      
Guarantees $ 39   $ 39
v3.24.0.1
RESTRUCTURING AND OTHER RELATED COSTS- Textuals (Details)
$ in Millions
 3 Months Ended
Jan. 31, 2024
USD ($)
Employee
Oct. 31, 2023
USD ($)
Restructuring and Related Activities [Abstract]    
Number of Positions Eliminated | Employee 400  
Restructuring Charges $ 3  
Restructuring Cost Incurred to Date 49  
Restructuring Reserve $ 11 $ 36
v3.24.0.1
RESTRUCTURING AND OTHER RELATED COSTS - ROLLFORWARD (Details)
$ in Millions
 3 Months Ended
Jan. 31, 2024
USD ($)
Restructuring Cost and Reserve [Line Items]  
Restructuring Reserve, Beginning Balance $ 36
Restructuring Charges 3
Restructuring Reserve, Settled without Cash (1)
Payments for Restructuring (27)
Restructuring Reserve, Ending Balance 11
Employee Severance  
Restructuring Cost and Reserve [Line Items]  
Restructuring Reserve, Beginning Balance 31
Restructuring Charges 2
Payments for Restructuring (25)
Restructuring Reserve, Ending Balance 8
Facility Closing  
Restructuring Cost and Reserve [Line Items]  
Restructuring Reserve, Beginning Balance 5
Restructuring Charges 1
Restructuring Reserve, Settled without Cash (1)
Payments for Restructuring (2)
Restructuring Reserve, Ending Balance $ 3
v3.24.0.1
RESTRUCTURING AND OTHER RELATED COSTS - Income Statement (Details)
$ in Millions
 3 Months Ended
Jan. 31, 2024
USD ($)
Restructuring Cost and Reserve [Line Items]  
Restructuring Charges $ 3
Cost of Products and Services  
Restructuring Cost and Reserve [Line Items]  
Restructuring Charges 0
Research and Development  
Restructuring Cost and Reserve [Line Items]  
Restructuring Charges 2
Selling, General and Administrative  
Restructuring Cost and Reserve [Line Items]  
Restructuring Charges $ 1
v3.24.0.1
SHORT-TERM DEBT - Credit Facility (Details) - Line of Credit - USD ($)
$ in Millions
 3 Months Ended
Jun. 07, 2023
Jun. 02, 2023
Jan. 31, 2024
Oct. 31, 2023
Jul. 03, 2023
5 yr Unsecured Credit Facility          
Short-term Debt          
Initiation date of credit facility Jun. 07, 2023        
Maximum borrowing capacity of credit facility $ 1,500        
Credit faciity terms (in years) five        
Expiration date of credit facility Jun. 07, 2028        
Amount outstanding on credit facility     $ 0 $ 0  
Incremental Revolving Credit Facility          
Short-term Debt          
Initiation date of credit facility Jun. 07, 2023        
Maximum borrowing capacity of credit facility $ 750        
Expiration date of credit facility Jun. 07, 2028        
Amount outstanding on credit facility     0 0  
Uncommitted Money Market Line Credit Agreement          
Short-term Debt          
Initiation date of credit facility   Jun. 02, 2023      
Maximum borrowing capacity of credit facility   $ 300      
Minimum amount per advance request   $ 1      
Proceeds from credit facility     0    
Repayments of credit facility     0    
Amount outstanding on credit facility     0 0  
Commercial Paper          
Short-term Debt          
Maximum borrowing capacity of credit facility         $ 1,500
Proceeds from issuance of commercial paper     0    
Repayment of commercial paper     0    
Amount outstanding on credit facility     $ 0 $ 0  
v3.24.0.1
LONG-TERM DEBT (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Debt Instrument    
Long-term debt $ 2,555 $ 2,735
Senior Notes 2026    
Debt Instrument    
Long-term debt 299 299
Senior Notes 2029    
Debt Instrument    
Long-term debt 496 496
Senior Notes 2030    
Debt Instrument    
Long-term debt 496 496
Senior Notes 2031    
Debt Instrument    
Long-term debt 844 844
Senior Notes    
Debt Instrument    
Long-term debt $ 2,135 $ 2,135
v3.24.0.1
LONG-TERM DEBT - Term loan Facility (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 15, 2022
Jan. 31, 2024
Jan. 31, 2023
Oct. 31, 2023
Debt Instrument        
Repayments of Long-Term Debt   $ (180) $ 0  
Term Loan Maturing 2025        
Debt Instrument        
Initiation date of credit facility Apr. 15, 2022      
Maximum borrowing capacity of credit facility $ 600      
Maturity date of debt Apr. 15, 2025      
Amount outstanding on credit facility     $ 420 $ 600
Weighted Average Interest Rate on Long-term Debt     6.18% 6.22%
v3.24.0.1
STOCKHOLDERS' EQUITY - Stock Repurchase Program (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Mar. 01, 2023
Jan. 09, 2023
Feb. 18, 2021
2021 Repurchase Program [Member]          
Share repurchase program          
Share repurchase program authorized amount         $ 2,000
Shares repurchased and retired during period, (Shares)   499,000      
Shares repurchased and retired during period, (Value)   $ 75      
Remaining authorized repurchase amount under share repurchase program     $ 339    
2023 Repurchase Program          
Share repurchase program          
Share repurchase program authorized amount       $ 2,000  
Shares repurchased and retired during period, (Shares) 0        
Remaining authorized repurchase amount under share repurchase program $ 1,524        
v3.24.0.1
STOCKHOLDER"S EQUITY - Dividends (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Feb. 21, 2024
Jan. 31, 2024
Jan. 31, 2023
Dividends Paid      
Cash dividends paid per common share   $ 0.236 $ 0.225
Aggregate amount of cash dividends paid   $ 69 $ 67
Dividends Declared      
Dividends Declared. per share   $ 0.236 $ 0.225
Subsequent Event [Member]      
Dividends Paid      
Dividends Payable, Amount Per Share $ 0.236    
Dividends Declared      
Date Dividends Declared Feb. 21, 2024    
Aggregate Cash Dividends Declared $ 69    
Payment Date of Declared Dividends Apr. 24, 2024    
Dividends Declared Date of Record Apr. 02, 2024    
v3.24.0.1
STOCKHOLDER'S EQUITY - Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Beginning Balance $ (327)  
Other comprehensive income (loss) before reclassifications 20  
Amounts reclassified out of accumulated other comprehensive income (loss) (14) $ 0
Tax expense (benefit) (5)  
Other comprehensive income (loss) 11 $ 67
Ending Balance (316)  
Foreign Currency Translation    
Beginning Balance (301)  
Other comprehensive income (loss) before reclassifications 29  
Amounts reclassified out of accumulated other comprehensive income (loss) (8)  
Tax expense (benefit) 0  
Other comprehensive income (loss) 21  
Ending Balance (280)  
Prior Service Credits    
Beginning Balance 122  
Other comprehensive income (loss) before reclassifications 0  
Amounts reclassified out of accumulated other comprehensive income (loss) 0  
Tax expense (benefit) 0  
Other comprehensive income (loss) 0  
Ending Balance 122  
Actuarial Losses    
Beginning Balance (165)  
Other comprehensive income (loss) before reclassifications 1  
Amounts reclassified out of accumulated other comprehensive income (loss) (3)  
Tax expense (benefit) (1)  
Other comprehensive income (loss) (1)  
Ending Balance (166)  
Unrealized Gains (Losses) on Derivatives    
Beginning Balance 17  
Other comprehensive income (loss) before reclassifications (10)  
Amounts reclassified out of accumulated other comprehensive income (loss) (3)  
Tax expense (benefit) (4)  
Other comprehensive income (loss) (9)  
Ending Balance $ 8  
v3.24.0.1
STOCKHOLDERS' EQUITY - Reclassifications out of accumulated comprehensive income (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Amounts reclassified out of accumulated other comprehensive income (loss) $ (14) $ 0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax 0 0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 8 0
Unrealized gain (loss) on derivatives $ 3 $ 6
Gain (Loss) Reclassified from AOCI into cost of sales [Extensible Enumeration] Cost of revenue Cost of revenue
Amounts reclassified into earnings related to derivative instruments, tax $ (1) $ (2)
Unrealized gain (loss) on derivatives after reclassification and after Tax 2 4
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax (3) (1)
Actuarial net loss and prior service benefit reclassified, before tax 3 1
Tax on actuarial net loss and prior service benefit reclassified (1) (1)
Actuarial net loss and prior service benefit reclassified, net of tax 2 0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 12 4
Other Income (Expense)    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Amounts reclassified out of accumulated other comprehensive income (loss) 8 $ 0
Foreign Currency Gain (Loss)    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Amounts reclassified out of accumulated other comprehensive income (loss) $ 8  
v3.24.0.1
SEGMENT INFORMATION - Profitability (Details)
$ in Millions
 3 Months Ended
Jan. 31, 2024
USD ($)
Jan. 31, 2023
USD ($)
Segment Reporting Information    
Number of operating segments 3 3
Segment Reporting Information    
Net revenue $ 1,658 $ 1,756
Income from operations 384 426
Operating Segments    
Segment Reporting Information    
Income from operations 428 476
Life Sciences and Applied Markets    
Segment Reporting Information    
Net revenue 846 943
Life Sciences and Applied Markets | Operating Segments    
Segment Reporting Information    
Income from operations 236 300
Diagnostics and Genomics    
Segment Reporting Information    
Net revenue 407 432
Diagnostics and Genomics | Operating Segments    
Segment Reporting Information    
Income from operations 70 73
Agilent CrossLab    
Segment Reporting Information    
Net revenue 405 381
Agilent CrossLab | Operating Segments    
Segment Reporting Information    
Income from operations $ 122 $ 103
v3.24.0.1
SEGMENT INFORMATION - Reconciliation of Reportable Results (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Reconciliation of Operating Profit from Segments to Consolidated    
Income from operations $ 384 $ 426
Asset Impairment (8) 0
Change in fair value of contingent consideration 0 (1)
Restructuring Charges 3  
Interest income 18 9
Interest expense (22) (25)
Other income (expense), net 23 0
Income before taxes, as reported 403 410
Operating Segments    
Reconciliation of Operating Profit from Segments to Consolidated    
Income from operations 428 476
Segment Reconciling Items    
Reconciliation of Operating Profit from Segments to Consolidated    
Amortization of intangible assets related to business combinations (26) (36)
Acquisition and integration costs (2) (2)
Transformational initiatives (3) (7)
Asset Impairment (8) 0
Change in fair value of contingent consideration 0 (1)
Restructuring Charges (3) 0
Other (2) (4)
Operating Expenses $ (44) $ (50)
v3.24.0.1
SEGMENT INFORMATION - Segment Assets (Details) - USD ($)
$ in Millions
Jan. 31, 2024
Oct. 31, 2023
Segment Reporting Information    
Assets $ 10,948 $ 10,763
Corporate, Non-Segment    
Segment Reporting Information    
Assets 2,899 2,739
Life Sciences and Applied Markets | Operating Segments    
Segment Reporting Information    
Assets 3,140 3,161
Diagnostics and Genomics | Operating Segments    
Segment Reporting Information    
Assets 3,962 3,966
Agilent CrossLab | Operating Segments    
Segment Reporting Information    
Assets $ 947 $ 897