KEYSIGHT TECHNOLOGIES, INC., 10-Q filed on 5/31/2024
Quarterly Report
v3.24.1.1.u2
Cover Page - shares
 6 Months Ended
Apr. 30, 2024
May 28, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Apr. 30, 2024  
Entity Central Index Key 0001601046  
Current Fiscal Year End Date --10-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Document Transition Report false  
Entity File Number 001-36334  
Entity Registrant Name KEYSIGHT TECHNOLOGIES, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 46-4254555  
Entity Address, Address Line One 1400 Fountaingrove Parkway  
Entity Address, City or Town Santa Rosa  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 95403  
City Area Code (800)  
Local Phone Number 829-4444  
Title of 12(b) Security Common Stock, par value $0.01 per share  
Trading Symbol KEYS  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   174,539,238
v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Net revenue:        
Revenues $ 1,216 $ 1,390 $ 2,475 $ 2,771
Costs and expenses:        
Cost of Goods and Services Sold 453 481 899 979
Research and development 228 222 460 449
Selling, general and administrative 361 337 723 675
Other operating expense (income), net (3) (4) (5) (8)
Total costs and expenses 1,039 1,036 2,077 2,095
Income from operations 177 354 398 676
Interest income 18 22 41 41
Interest expense (20) (20) (40) (39)
Other income (expense), net 0 5 5 14
Income before taxes 175 361 404 692
Provision for income taxes 49 78 106 149
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total 126 283 302 543
Net income $ 126 $ 283 $ 298 $ 543
Net income per share:        
Basic (in dollars per share) $ 0.73 $ 1.59 $ 1.71 $ 3.04
Diluted (in dollars per share) $ 0.72 $ 1.58 $ 1.70 $ 3.02
Weighted average shares used in computing net income per share:        
Basic (in shares) 174 178 175 178
Diluted (in shares) 175 179 175 179
Retained Earnings [Member]        
Costs and expenses:        
Net income $ 126 $ 283 $ 298 $ 543
Products        
Net revenue:        
Revenues 909 1,108 1,861 2,222
Costs and expenses:        
Cost of Goods and Services Sold 358 384 709 789
Services and other        
Net revenue:        
Revenues 307 282 614 549
Costs and expenses:        
Cost of Goods and Services Sold $ 95 $ 97 $ 190 $ 190
v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 126 $ 283 $ 298 $ 543
Other comprehensive income (loss):        
Gain (loss) on derivative instruments, net of tax benefit (expense) of $(1), zero, zero and $6 3 1 1 (20)
Amounts reclassified into earnings related to derivative instruments, net of tax benefit (expense) of $1, zero, $1 and zero (2) (1) (4) (3)
Foreign currency translation, net of tax benefit (expense) of zero (32) (11) (5) 70
Change in net actuarial loss, net of tax expense of $1, $1, $2 and $2 4 3 5 8
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total (27) (8) (3) 55
Total comprehensive income $ 99 $ 275 $ 295 $ 598
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Other comprehensive income (loss), tax, parenthetical disclosures [Abstract]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax $ (1) $ 0 $ 0 $ 6
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 1 0 1 0
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax 0 0 0 0
Net defined benefit pension cost and post retirement plan costs, tax [Abstract]        
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax $ 1 $ 1 $ 2 $ 2
v3.24.1.1.u2
CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,657 $ 2,472
Accounts receivable, net 809 900
Inventory 1,020 985
Other current assets 482 452
Total current assets 3,968 4,809
Property, plant and equipment, net 769 761
Operating lease right-of-use assets 239 226
Goodwill 2,282 1,640
Other intangible assets, net 609 155
Long-term investments 102 81
Long-term deferred tax assets 668 671
Other assets 351 340
Total assets 8,988 8,683
Current liabilities:    
Current portion of long-term debt 600 599
Accounts payable 268 286
Employee compensation and benefits 309 304
Deferred revenue 578 541
Income and other taxes payable 62 90
Operating lease liabilities 43 40
Other accrued liabilities 134 189
Total current liabilities 1,994 2,049
Long-term debt 1,195 1,195
Retirement and post-retirement benefits 68 64
Long-term deferred revenue 211 216
Long-term operating lease liabilities 201 192
Other long-term liabilities 416 313
Total liabilities 4,085 4,029
Commitments and contingencies (Note 13)
Stockholders' equity:    
Preferred stock; $0.01 par value; 100 million shares authorized; none issued and outstanding 0 0
Common stock; $0.01 par value; 1 billion shares authorized; issued and outstanding shares: 201 million and 200 million, respectively 2 2
Treasury stock, at cost; 26.4 million shares and 25.4 million shares, respectively 3,119 2,980
Additional paid-in-capital 2,580 2,487
Retained earnings 5,909 5,611
Accumulated other comprehensive loss (469) (466)
Total stockholders' equity 4,903 4,654
Total liabilities and equity $ 8,988 $ 8,683
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CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares
shares in Thousands
Apr. 30, 2024
Oct. 31, 2023
Stockholders' equity:    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 100,000 100,000
Preferred Stock, Shares Issued 0 0
Preferred Stock, Shares Outstanding 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 1,000,000 1,000,000
Common Stock, Shares, Issued 201,000 200,000
Treasury Stock, Common, Shares 26,400 25,400
v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Cash flows from operating activities:    
Net income $ 298 $ 543
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 62 59
Amortization 76 49
Share-based compensation 82 84
Deferred tax expense (benefit) (9) (2)
Excess and obsolete inventory-related charges 18 13
Other non-cash expense (income), net (5) (4)
Changes in assets and liabilities:    
Accounts receivable 121 61
Inventory (50) (93)
Accounts payable (11) (41)
Employee compensation and benefits (26) (35)
Deferred revenue 14 81
Income taxes payable (35) (32)
Interest rate swap agreement termination proceeds 0 107
Prepaid assets (19) (27)
Other assets and liabilities (78) 26
Net cash provided by operating activities 438 789
Cash flows from investing activities:    
Investments in property, plant and equipment (83) (113)
Acquisition of businesses and intangible assets, net of cash acquired (556) (85)
Other investing activities 8 (7)
Net cash used in investing activities (631) (205)
Cash flows from financing activities:    
Proceeds from issuance of common stock under employee stock plans 33 33
Payment of taxes related to net share settlement of equity awards (28) (47)
Acquisition of non-controlling interests (458) 0
Treasury stock repurchases (139) (125)
Repayment of debt (24) 0
Other financing activities (5) (1)
Net cash used in financing activities (621) (140)
Effect of exchange rate movements 0 13
Net increase (decrease) in cash, cash equivalents, and restricted cash (814) 457
Cash, cash equivalents, and restricted cash at beginning of period 2,488 2,057
Cash, cash equivalents, and restricted cash at end of period 1,674 2,514
Supplemental Cash Flow Elements [Abstract]    
Interest payments 38 37
Income tax paid, net 146 180
Investments in property, plant and equipment included in accounts payable $ 14 $ 23
v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENT OF EQUITY Statement - USD ($)
$ in Millions
Total
ESI Group SA
Common Stock [Member]
Additional Paid-in Capital [Member]
Treasury Stock, Common
Retained Earnings [Member]
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Noncontrolling Interest
ESI Group SA
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total $ 543              
Common Stock, Shares, Outstanding beginning at Oct. 31, 2022     198,569,000          
Treasury Stock, Shares beginning at Oct. 31, 2022         (20,536,000)      
Stockholders' Equity, Balance beginning at Oct. 31, 2022 4,161   $ 2 $ 2,333 $ (2,274) $ 4,554 $ (454)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock (shares)     829,000          
Issuance of common stock 33     33        
Taxes related to net share settlement of equity awards (47)     (47)        
Share-based compensation $ 85     85        
Treasury Stock, Shares, Acquired (710,736)       (711,000)      
Repurchase of common stock $ (125)       $ (125)      
Net income 543         543    
Other comprehensive income (loss), net of tax 55           55  
Common Stock, Shares, Outstanding ending at Apr. 30, 2023     199,398,000          
Treasury Stock, Shares ending at Apr. 30, 2023         (21,247,000)      
Stockholders' Equity, Balance ending at Apr. 30, 2023 4,705   $ 2 2,404 $ (2,399) 5,097 (399)  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total 283              
Common Stock, Shares, Outstanding beginning at Jan. 31, 2023     199,382,000          
Treasury Stock, Shares beginning at Jan. 31, 2023         (21,247,000)      
Stockholders' Equity, Balance beginning at Jan. 31, 2023 4,404   $ 2 2,378 $ (2,399) 4,814 (391)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock (shares)     16,000          
Issuance of common stock 0     0        
Taxes related to net share settlement of equity awards (1)     (1)        
Share-based compensation 27     27        
Treasury Stock, Shares, Acquired         0      
Repurchase of common stock 0       $ 0      
Net income 283         283    
Other comprehensive income (loss), net of tax (8)           (8)  
Common Stock, Shares, Outstanding ending at Apr. 30, 2023     199,398,000          
Treasury Stock, Shares ending at Apr. 30, 2023         (21,247,000)      
Stockholders' Equity, Balance ending at Apr. 30, 2023 4,705   $ 2 2,404 $ (2,399) 5,097 (399)  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total $ 302              
Common Stock, Shares, Outstanding beginning at Oct. 31, 2023     199,771,000          
Treasury Stock, Shares beginning at Oct. 31, 2023 25,400,000       (25,449,000)      
Stockholders' Equity, Balance beginning at Oct. 31, 2023 $ 4,654 $ 0 $ 2 2,487 $ (2,980) 5,611 (466)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock (shares)     884,000          
Issuance of common stock 33     33        
Taxes related to net share settlement of equity awards (28)     (28)        
Share-based compensation $ 84     84        
Treasury Stock, Shares, Acquired (926,861)       (927,000)      
Repurchase of common stock $ (139)       $ (139)      
Net income 298         298    
Other comprehensive income (loss), net of tax (3)           (3)  
Net Income (Loss) Attributable to Noncontrolling Interest               $ 4
Noncontrolling Interest, Increase from Business Combination 458             458
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests $ (458)     4       $ (462)
Common Stock, Shares, Outstanding ending at Apr. 30, 2024     200,655,000          
Treasury Stock, Shares ending at Apr. 30, 2024 26,400,000       (26,376,000)      
Stockholders' Equity, Balance ending at Apr. 30, 2024 $ 4,903 0 $ 2 2,580 $ (3,119) 5,909 (469)  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total 126              
Common Stock, Shares, Outstanding beginning at Jan. 31, 2024     200,621,000          
Treasury Stock, Shares beginning at Jan. 31, 2024         (26,074,000)      
Stockholders' Equity, Balance beginning at Jan. 31, 2024 4,817 0 $ 2 2,547 $ (3,073) 5,783 (442)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock (shares)     34,000          
Issuance of common stock 1     1        
Taxes related to net share settlement of equity awards 0     0        
Share-based compensation 32     32        
Treasury Stock, Shares, Acquired         (302,000)      
Repurchase of common stock (46)       $ (46)      
Net income 126         126    
Other comprehensive income (loss), net of tax $ (27)           (27)  
Common Stock, Shares, Outstanding ending at Apr. 30, 2024     200,655,000          
Treasury Stock, Shares ending at Apr. 30, 2024 26,400,000       (26,376,000)      
Stockholders' Equity, Balance ending at Apr. 30, 2024 $ 4,903 $ 0 $ 2 $ 2,580 $ (3,119) $ 5,909 $ (469)  
v3.24.1.1.u2
OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 6 Months Ended
Apr. 30, 2024
Accounting Policies [Abstract]  
OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1.    OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Overview. Keysight Technologies, Inc. ("we," "us," "Keysight" or the "company"), incorporated in Delaware on December 6, 2013, is a global innovator in the computing, communications and electronics market, committed to advancing our customers’ business success by helping them solve critical challenges in the development and commercialization of their products and services. Our mission, "accelerating innovation to connect and secure the world," speaks to the value we provide our customers in a world of ever-increasing technological complexity. We deliver this value through a broad range of design and test solutions that address the critical challenges our customers face in bringing their innovations to market faster.
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.
Basis of Presentation. We have prepared the accompanying financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the U.S. ("GAAP") have been condensed or omitted pursuant to such rules and regulations. The accompanying financial statements and information should be read in conjunction with our Annual Report on Form 10-K.
In the opinion of management, the accompanying condensed consolidated financial statements contain all normal and recurring adjustments necessary to state fairly our financial position as of April 30, 2024 and October 31, 2023, results of operations for the three and six months ended April 30, 2024 and 2023, and cash flows for the six months ended April 30, 2024 and 2023.
Principles of consolidation. The condensed consolidated financial statements include the accounts of the company and our wholly- and majority-owned subsidiaries. All significant inter-company transactions have been eliminated. The condensed consolidated financial statements also reflect the impact of non-controlling interests. Non-controlling interests do not have a significant impact on the condensed consolidated results of operations; therefore, net income attributable to non-controlling interests for the six months ended April 30, 2024 of $4 million is not presented separately and is included in "other income (expense), net" in the condensed consolidated statements of operations.
Use of Estimates. The preparation of condensed consolidated financial statements in accordance with GAAP 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 knowledge of current events and actions that may impact the company in the future, actual results may be different from the estimates.
Acquisition of ESI Group SA. In the first quarter of fiscal 2024, we acquired all of the outstanding common stock of ESI Group SA ("ESI Group") for $935 million, net of cash acquired, using existing cash. See Note 2, "Acquisitions," for further information of the acquisition of ESI Group.
Update to Significant Accounting Policies. There have been no material changes to our significant accounting policies as described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.
New Accounting Pronouncements. Amendments to GAAP that do not require adoption until a future date are not expected to have a material impact on the condensed consolidated financial statements upon adoption.
v3.24.1.1.u2
ACQUISITIONS
 6 Months Ended
Apr. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Combination Disclosure
2.    ACQUISITIONS
Acquisition of ESI Group SA
On November 3, 2023, we acquired 50.6% of the share capital of ESI Group SA ("ESI Group") for $512 million, using existing cash. During January 2024, we completed the acquisition of the remaining share capital of ESI Group for $458 million, using existing cash. The company entered into put/call agreements valued at $7 million for certain ESI Group equity awards, subject to a holding period that may extend beyond the explicit vesting period, for the right to receive a cash payment equal to the public tender offer consideration of 155 euros per share. On January 26, 2024, ESI Group was delisted from Euronext Paris. For the three and six months ended April 30, 2024, ESI Group's net revenue was $26 million and $94 million, respectively. For the three and six months ended April 30, 2024, ESI Group's net loss attributable to Keysight shareholders was $22 million and $20 million, respectively.
The ESI Group acquisition was accounted for in accordance with the authoritative accounting guidance. The acquired assets and assumed liabilities were recorded by Keysight at their estimated fair values. Keysight determined the estimated fair values with the assistance of valuations performed by third party specialists, discounted cash flow analysis, and estimates made by management. The acquisition of ESI Group expands our application layer portfolio with simulation capabilities that are critical to accelerate innovation in multiple end markets. These factors, among others, contributed to a purchase price in excess of the estimated fair value of ESI Group's net identifiable assets acquired (see summary of net assets below), and, as a result, we have recorded goodwill in connection with this transaction.
Goodwill was assigned to the Communications Solutions Group ("CSG") and the Electronic Industrial Solutions Group ("EISG") reportable segments, based on the expected benefits and synergies that are likely to be realized from the ESI Group acquisition. We do not expect the goodwill recognized or any potential impairment charges in the future to be deductible for income tax purposes.
A portion of the overall purchase price was allocated to acquired intangible assets. Amortization expense associated with acquired intangible assets is not deductible for tax purposes. Therefore, a deferred tax liability of approximately $98 million was established primarily for the future amortization of these intangibles and is included in "other long-term liabilities" in the table below.
The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date:
November 3, 2023
(in millions)
Cash and cash equivalents$35 
Short-term investments12
Accounts receivable28
Other current assets18
Property, plant and equipment4
Operating lease right-of-use assets8
Goodwill595
Other intangible assets494
Other assets3
Total assets acquired1,197 
Accounts payable(8)
Employee compensation and benefits(23)
Deferred revenue(14)
Income and other taxes payable(8)
Operating lease liabilities(3)
Other accrued liabilities(18)
Debt(24)
Retirement and post-retirement benefits(7)
Long-term operating lease liabilities(5)
Other long-term liabilities(110)
Net assets acquired$977 
The fair values of cash and cash equivalents, short-term investments, accounts receivable, other current assets, accounts payable, employee compensation and benefits, and deferred revenue were generally determined using historical carrying values given the short-term nature of these assets and liabilities. The fair value for intangible assets was determined with the input from third-party valuation specialists. The fair values of property, plant and equipment and certain other liabilities were determined internally using historical carrying values and estimates made by management. In connection with the acquisition and determination of the fair values of acquired assets and assumed liabilities, the company is in the process of obtaining additional information to refine its initial fair value estimates related to income taxes and intangible assets. During the second quarter of fiscal year 2024, the company decreased the deferred tax liability and goodwill by $8 million primarily for a timing difference in the recognition of research and development expenses. We expect to finalize this allocation in the third quarter of fiscal year 2024. As additional information becomes available, we may revise the preliminary purchase price allocation during the remainder of the measurement period (which will not exceed 12 months from the acquisition date). Any such revisions or changes may be material.
Valuation of Intangible Assets Acquired
The components of intangible assets acquired in connection with the ESI Group acquisition were as follows:
Estimated Fair ValueEstimated useful life
(in millions)(in years)
Developed technology$270 6
Customer relationships1606
Backlog153
Trademarks/Tradename22
Total amortizable intangible assets447
In-process research and development47
Total intangible assets$494 
As noted above, the intangible assets were valued with input from valuation specialists using the income approach, which includes the discounted cash flow, with and without, and relief from royalty methods. The in-process research and development was valued using the multi-period excess earnings method under the income approach by discounting forecasted cash flows directly related to the products expecting to result from the projects, net of returns on contributory assets. A discount rate of 12% was used to value the research and development projects to reflect the additional risks inherent in the acquired projects. The primary in-process projects acquired relate to next generation products which will be released in the near future. Total costs to complete for all ESI Group in-process research and development were estimated at approximately $7 million as of the close date.
Acquisition and integration costs directly related to the ESI Group acquisition are recorded in selling, general and administrative expenses and other income (expense), net, and were $7 million and $21 million for the three and six months ended April 30, 2024, respectively. For the three and six months ended April 30, 2024, we incurred $1 million and $6 million, respectively, of acquisition-related compensation expense to redeem certain of ESI Group's outstanding unvested stock awards as of the date of the acquisition that were determined to relate to post-merger service periods.
The following represents pro forma operating results as if ESI Group had been included in the company's condensed consolidated statements of operations as of the beginning of fiscal 2023:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
in millions, except per-share amounts
Net revenue$1,216 $1,444 $2,475 $2,867 
Net income$133 $276 $319 $525 
Net income per share - Basic$0.76 $1.55 $1.83 $2.95 
Net income per share - Diluted$0.76 $1.54 $1.82 $2.93 
The unaudited pro forma financial information for the three and six months ended April 30, 2024 and 2023 combines the historical results of Keysight and ESI Group for the three and six months ended April 30, 2024 and 2023, assuming that the companies were combined as of November 1, 2022 and includes business combination accounting effects from the acquisition including amortization charges from acquired intangible assets and tax-related effects. The pro forma information as presented above is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal 2023.
Acquisition of Riscure Holding B.V.
On February 21, 2024, we acquired all the outstanding share capital of Riscure Holding B.V. ("Riscure") for $78 million, net of cash acquired, expanding our automated security assessment capabilities and solutions for semiconductors, embedded systems, and connected devices. We recognized goodwill and other intangible assets of $52 million and $35 million, respectively, based on the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed.
v3.24.1.1.u2
REVENUE (Notes)
 6 Months Ended
Apr. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
3.    REVENUE
Disaggregation of Revenue
We disaggregate our revenue from contracts with customers by geographic region, end market, and timing of revenue recognition, as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Disaggregated revenue is presented for each of our reportable segments, CSG and EISG.
Three Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Region
Americas$397 $95 $492 $424 $93 $517 
Europe127 101 228 128 101 229 
Asia Pacific316 180 496 385 259 644 
Total revenue$840 $376 $1,216 $937 $453 $1,390 
End Market
Aerospace, Defense & Government$277 $— $277 $310 $— $310 
Commercial Communications563 — 563 627 — 627 
Electronic Industrial— 376 376 — 453 453 
Total revenue$840 $376 $1,216 $937 $453 $1,390 
Timing of Revenue Recognition
Revenue recognized at a point in time$658 $307 $965 $775 $390 $1,165 
Revenue recognized over time182 69 251 162 63 225 
Total revenue$840 $376 $1,216 $937 $453 $1,390 

Six Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Region
Americas$814 $192 $1,006 $876 $202 $1,078 
Europe259 224 483 275 211 486 
Asia Pacific606 380 986 725 482 1,207 
Total revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
End Market
Aerospace, Defense & Government$572 $— $572 $620 $— $620 
Commercial Communications1,107 — 1,107 1,256 — 1,256 
Electronic Industrial— 796 796 — 895 895 
Total revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
Timing of Revenue Recognition
Revenue recognized at a point in time$1,312 $653 $1,965 $1,552 $770 $2,322 
Revenue recognized over time367 143 510 324 125 449 
Total revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
Our point-in-time revenues are generated predominantly from the sale of various types of design and test software and hardware, and per-incident repair and calibration services. Perpetual software and the portion of term software subscription revenue in this category represents revenue recognized upfront upon transfer of control at the time of electronic delivery. Revenue on per-incident repair and calibration services is recognized when services are performed. Over-time revenues are generated predominantly from the repair and calibration contracts, extended warranties, technical support for hardware and software, certain software subscription and Software as a Service ("SaaS") product offerings, and professional services. Technical support for software and when-and-if available software updates and upgrades are sold either together with our software licenses and software subscriptions, including SaaS, or separately as part of our customer support programs.
Additionally, we provide custom solutions that include combinations of hardware, software, software subscriptions, installation, professional services, and other support services, and revenue may be recognized either up front on delivery or over time depending upon the terms of the contract.
Contract Balances
Contract assets
Contract assets consist of unbilled receivables and are recorded when revenue is recognized in advance of scheduled billings to our customers. These amounts are primarily related to solutions and support arrangements when transfer of control has occurred but we have not yet invoiced. The contract assets balance was $75 million and $58 million as of April 30, 2024 and October 31, 2023, respectively, and is included in "accounts receivables, net" and "other assets" in the condensed consolidated balance sheet.
Contract costs
We capitalize direct and incremental costs incurred to acquire contracts for which the associated revenue is expected to be recognized in future periods. We have determined that certain employee and third-party representative commission programs meet the requirements to be capitalized. These costs are initially deferred and typically amortized over the term of the customer contract which corresponds to the period of benefit. Capitalized contract costs were $38 million and $43 million as of April 30, 2024 and October 31, 2023, respectively, and are included in “other current assets” and “other assets” in the condensed consolidated balance sheet. The amortization expense associated with these capitalized costs was $14 million and $30 million for the three and six months ended April 30, 2024, respectively, and $18 million and $37 million for the corresponding periods last year.
Contract liabilities
Our contract liabilities consist of deferred revenue that arises when we receive consideration in advance of providing the goods or services promised in the contract. Contract liabilities are primarily generated from customer deposits received in advance of shipments for products or rendering of services and are recognized as revenue when products are shipped or services are provided to the customer. We classify deferred revenue as current or non-current based on the timing of when we expect to recognize revenue.
The following table provides a roll-forward of our contract liabilities, current and non-current:
Six Months Ended
April 30, 2024
(in millions)
Balance at October 31, 2023$757 
Deferral of revenue billed in current period, net of recognition383 
Deferred revenue arising out of acquisitions19 
Revenue recognized that was deferred as of the beginning of the period(370)
Foreign currency translation impact— 
Balance at April 30, 2024$789 
Of the $370 million of revenue recognized in the six months ended April 30, 2024 that was deferred as of the beginning of the period, approximately $146 million was recognized in the three months ended April 30, 2024.
Remaining Performance Obligations
Our remaining performance obligations, excluding contracts that have an original expected duration of one year or less, was approximately $580 million as of April 30, 2024, and represents the company’s obligation to deliver products and services and obtain customer acceptance on delivered products. As of April 30, 2024, we expect to fulfill 30 percent of these remaining performance obligations during the remainder of 2024, 44 percent during 2025, and 26 percent thereafter.
v3.24.1.1.u2
SHARE-BASED COMPENSATION
 6 Months Ended
Apr. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
SHARE-BASED COMPENSATION
4.    SHARE-BASED COMPENSATION
Keysight accounts 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 restricted stock units ("RSUs"), employee stock purchases made under our Employee Stock Purchase Plan (“ESPP”), and performance share awards granted to selected members of our senior management under the Long-Term Performance (“LTP”) Program, based on estimated fair values. The impact of share-based compensation expense on the condensed consolidated statement of operations was as follows:
Three Months EndedSix Months Ended
April 30,April 30,
 2024202320242023
 (in millions)
Cost of products and services$7 $7 $15 $16 
Research and development9 7 22 23 
Selling, general and administrative20 15 49 45 
Total share-based compensation expense$36 $29 $86 $84 
For the three and six months ended April 30, 2024, the total share-based compensation expense includes $1 million and $6 million, respectively, of ESI Group acquisition-related compensation to redeem certain outstanding unvested stock awards as of the date of the acquisition that were determined to relate to post-merger service periods. Share-based compensation capitalized within inventory was $2 million as of April 30, 2024 and 2023.
v3.24.1.1.u2
INCOME TAXES
 6 Months Ended
Apr. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES
5.    INCOME TAXES
The following table provides income tax details:
 Three Months EndedSix Months Ended
April 30,April 30,
 2024202320242023
in millions, except percentages
Income before taxes$175$361$404$692
Provision for income taxes$49$78$106$149
Effective tax rate27.6 %21.8 %25.8 %21.6 %
The tax expense for the three and six months ended April 30, 2024 was lower compared to the same periods last year primarily due to a decrease in income before taxes. The decrease in income before taxes in jurisdictions with tax rates lower than the U.S. statutory rate, without a proportional decline in the U.S. taxes on non-U.S. earnings, resulted in an increase in the overall effective tax rate for the three and six months ended April 30, 2024 as compared to the same periods last year.
The income tax expense for the three and six months ended April 30, 2024 included a net discrete benefit of $1 million and net discrete expense of $1 million, respectively. The income tax expense for the three and six months ended April 30, 2023 included a net discrete expense of $3 million and $2 million, respectively.
Keysight benefits from tax incentives in several jurisdictions, most significantly in Singapore and Malaysia, that will expire at various times in the future. The tax incentives provide lower rates of taxation on certain classes of income and require thresholds of investments and employment in those jurisdictions. The Singapore tax incentive will expire July 31, 2024, and the Malaysia tax incentive will expire October 31, 2025. The expiration of the Singapore tax incentive in the current year has been reflected in the annual tax forecast. The impact of the tax incentives decreased the income tax provision by $22 million and $49 million for the six months ended April 30, 2024 and 2023, respectively. The decrease in the tax benefit for the six months ended April 30, 2024 is primarily due to a decrease in earnings taxed at incentive rates and the impact of the Singapore tax incentive expiration.
The open tax years for the U.S. federal income tax return and most state income tax returns are from November 1, 2019 through the current tax year. For the majority of our non-U.S. entities, the open tax years are from November 1, 2018 through the current tax year. For certain non-U.S. entities, the tax years remain open, at most, back to the year 2008.
The company was audited in Malaysia for fiscal year 2008. This tax year predates our separation from Agilent. However, pursuant to the agreement between Agilent and Keysight pertaining to tax matters, as finalized at the time of separation, for certain entities, including Malaysia, any historical tax liability is the responsibility of Keysight. In the fourth quarter of fiscal year 2017, Keysight paid income taxes and penalties of $68 million on gains related to intellectual property rights. The
company disputed this assessment and filed an appeal with the Court of Appeal in Malaysia. The Court of Appeal’s decision was rendered in Keysight’s favor on May 24, 2024.
At this time, management does not believe that the outcome of any future or currently ongoing examination will have a material impact on our consolidated financial statements. We believe that we have an adequate provision for any adjustments that may result from tax examinations. However, the outcome of tax examinations cannot be predicted with certainty. Given the numerous tax years and matters that remain subject to examination in various tax jurisdictions, the ultimate resolution of current and future tax examinations could be inconsistent with management’s current expectations. If that were to occur, it could have an impact on our effective tax rate in the period in which such examinations are resolved.
v3.24.1.1.u2
NET INCOME PER SHARE
 6 Months Ended
Apr. 30, 2024
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
6.    NET INCOME PER SHARE
The following table presents the calculation of basic and diluted net income per share:
Three Months EndedSix Months Ended
April 30,April 30,
 2024202320242023
in millions, except per-share amounts
Net income$126 $283 $298 $543 
Basic weighted-average shares174 178 175 178 
Potential common shares1 1 — 1 
Diluted weighted-average shares175 179 175 179 
Net income per share - basic$0.73 $1.59 $1.71 $3.04 
Net income per share - diluted$0.72 $1.58 $1.70 $3.02 
Diluted shares outstanding primarily include the dilutive effect of non-vested RSUs and in-the-money options. The diluted effect of such awards is calculated based on the average share price of each period using the treasury stock method, except where the inclusion of such awards would have an anti-dilutive impact. Anti-dilutive shares excluded from the calculation of diluted earnings per share were immaterial for the three and six months ended April 30, 2024 and 2023
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS
 6 Months Ended
Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
7.    GOODWILL AND OTHER INTANGIBLE ASSETS
The goodwill balance as of April 30, 2024 and October 31, 2023 and the activity for the six months ended April 30, 2024 for each of our reportable operating segments were as follows:
 CSGEISGTotal
 (in millions)
Goodwill at October 31, 2023$1,057 $583 $1,640 
Foreign currency translation impact(5)(1)(6)
Goodwill arising from acquisitions124 524 648 
Goodwill at April 30, 2024$1,176 $1,106 $2,282 
There were no impairments for the three and six months ended April 30, 2024 and 2023. As of April 30, 2024 and October 31, 2023, accumulated impairment losses on goodwill was $709 million.
Other intangible assets as of April 30, 2024 and October 31, 2023 consisted of the following:
 April 30, 2024October 31, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Net Book
Value		Gross
Carrying
Amount		Accumulated
Amortization		Net Book
Value
 (in millions)
Developed technology$1,336 $983 $353 $1,033 $949 $84 
Backlog36 20 16 19 17 2 
Trademark/Tradename38 34 4 36 33 3 
Customer relationships573 377 196 406 340 66 
Total amortizable intangible assets$1,983 $1,414 $569 $1,494 $1,339 $155 
In-Process R&D40 — 40 — — — 
Total$2,023 $1,414 $609 $1,494 $1,339 $155 
During the six months ended April 30, 2024, we recognized additions to goodwill and other intangible assets of $648 million and $529 million, respectively, based on the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed from the acquisition of ESI Group and other acquisition activity. See Note 2, "Acquisitions," for additional information. During the six months ended April 30, 2024, we transferred $7 million from in-process R&D to developed technology as projects were successfully completed.
Goodwill is assessed for impairment on a reporting unit basis at least annually in the fourth quarter of each year, or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. The company has not identified any triggering events that indicate an impairment of goodwill for the six months ended April 30, 2024.
During the six months ended April 30, 2024, foreign exchange translation had an immaterial impact on other intangible assets. Amortization of other intangible assets was $37 million and $75 million, respectively for the three and six months ended April 30, 2024. Amortization of other intangible assets was $25 million and $48 million, respectively, for the three and six months ended April 30, 2023.
Estimated intangible assets amortization expense for each of the five succeeding fiscal years is as follows:
Amortization expense
(in millions)
2024 (remainder)$60 
2025$118 
2026$106 
2027$94 
2028$91 
2029$82 
Thereafter$18 
v3.24.1.1.u2
FAIR VALUE MEASUREMENTS
 6 Months Ended
Apr. 30, 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 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 April 30, 2024 and October 31, 2023 were as follows:
Fair Value Measurements at
 April 30, 2024October 31, 2023
 TotalLevel 1Level 2Level 3OtherTotalLevel 1Level 2Level 3Other
 (in millions)
Assets:        
Short-term        
Money market funds$993 $993 $— $— $— $1,934 $1,934 $— $— $— 
Derivative instruments (foreign exchange contracts)13 — 13 — — 18 — 18 — — 
Long-term
Equity investments74 74 — — — 56 56 — — — 
Other investments28 — — — 28 25 — — — 25 
Total assets measured at fair value$1,108 $1,067 $13 $— $28 $2,033 $1,990 $18 $— $25 
Liabilities:        
Short-term
Derivative instruments (foreign exchange contracts)$5 $— $5 $— $— $54 $— $54 $— $— 
Long-term
Deferred compensation liability31 — 31 — — 27 — 27 — — 
Total liabilities measured at fair value$36 $— $36 $— $— $81 $— $81 $— $— 
During the six months ended April 30, 2024, we purchased an equity investment for $10 million.
Our money market funds and equity investments with readily determinable fair values are measured at fair value using quoted market prices and, therefore, are classified within Level 1 of the fair value hierarchy. Equity and fixed income investments or convertible notes without readily determinable fair values that are either measured at cost, adjusted for observable changes in price or impairments, or accounted for under a measurement alternative are not categorized in the fair value hierarchy and are presented as "other investments" in the table above. Our deferred compensation liability is classified as Level 2 because the inputs used in the calculations are observable, although the values are not directly based on quoted market prices. Our derivative financial instruments are classified within Level 2 as there is not an active market for each hedge contract, but the inputs used to calculate the value of the instruments are tied to active markets.
Equity investments, including securities that are earmarked to pay the deferred compensation liability, and the deferred compensation liability are reported at fair value, with gains or losses resulting from changes in fair value recognized in earnings. Certain derivative instruments are reported at fair value, with unrealized gains and losses, net of tax, included in accumulated other comprehensive income (loss). The changes in fair value of the equity investment are recorded within "other income (expense), net" in the condensed consolidated statement of operations.
Net recognized gain (loss) on sale of our equity and other investments were as follows:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
 (in millions)
Net realized gain (loss) on equity and other investments sold$— $— $— $— 
Net unrealized gain (loss) on equity and other investments still held$3 $(1)$10 $7 
v3.24.1.1.u2
DERIVATIVES
 6 Months Ended
Apr. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES
9.    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, 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 based on a rolling period of up to twelve months. These derivative instruments are designated and qualify as cash flow hedges under the criteria prescribed in the authoritative guidance.
In 2020, we entered into forward-starting interest rate swap agreements with an aggregate notional amount of $600 million associated with future interest payments on anticipated debt issuances through fiscal year 2024. In 2023, we terminated the interest rate swap agreements, resulting in a deferred gain of $107 million recognized in accumulated other comprehensive income (loss) to be amortized to interest expense over the term of the anticipated debt. As part of the ESI Group acquisition, we assumed two interest rate swap agreements with an aggregate notional amount of 5 million euros to hedge the variable interest rate of the syndicate loan. In April 2024, we terminated these interest rate swap agreements resulting in an immaterial impact on earnings.
Non-designated Hedges
Additionally, we periodically enter into foreign exchange contracts to hedge monetary assets and liabilities that are denominated in currencies other than the functional currency of our subsidiaries.
In connection with the acquisition of the ESI Group, we entered into foreign exchange forward contracts to mitigate the currency exchange risk associated with the payment of the purchase price in Euro. The aggregate notional amount of the currencies hedged was 930 million euros as of October 31, 2023. These foreign exchange contracts did not qualify for hedge accounting treatment and were not designated as hedging instruments. During the six months ended April 30, 2024, these foreign exchange forward contracts were settled using existing cash of $63 million, resulting in a loss of $18 million recorded in “other income (expense), net” in the condensed consolidated statement of operations.
The aggregate number of open foreign exchange forward contracts designated as "cash flow hedges" and "not designated as hedging instruments" was 196 and 85, respectively, as of April 30, 2024. The net notional amounts by currency and designation as of April 30, 2024 were as follows:
 Derivatives in Cash Flow Hedging RelationshipsDerivatives Not Designated as Hedging Instruments
 Forward
Contracts		Forward
Contracts
CurrencyBuy/(Sell)Buy/(Sell)
 (in millions)
Euro$15 $29 
British Pound13 — 
Singapore Dollar33 26 
Malaysian Ringgit107 9 
Japanese Yen(88)(77)
Other currencies(25)43 
Total$55 $30 
Derivative instruments are subject to master netting arrangements and are disclosed gross in the condensed consolidated balance sheet. The gross fair values and balance sheet presentation of derivative instruments held as of April 30, 2024 and October 31, 2023 were as follows:
Fair Values of Derivative Instruments
Assets DerivativesLiabilities Derivatives
Fair Value Fair Value
Balance Sheet LocationApril 30, 2024October 31, 2023Balance Sheet LocationApril 30, 2024October 31, 2023
(in millions)
Derivatives designated as hedging instruments:     
Cash flow hedges
Foreign exchange contracts     
Other current assets$8 $16 Other accrued liabilities$3 $7 
Derivatives not designated as hedging instruments:     
Foreign exchange contracts     
Other current assets5 2 Other accrued liabilities2 47 
Total derivatives$13 $18  $5 $54 
The effect of derivative instruments for foreign exchange contracts designated as hedging instruments and for those not designated as hedging instruments in the condensed consolidated statement of operations was as follows:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
 (in millions)
Derivatives designated as hedging instruments:  
Cash Flow Hedges
Interest rate swap contracts:
Gain (loss) recognized in accumulated other comprehensive income (loss)$— $(2)$— $(26)
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive income (loss)$4 $3 $1 $— 
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings:
Cost of products$3 $— $6 $4 
Selling, general and administrative$— $1 $(1)$(1)
Gain (loss) excluded from effectiveness testing recognized in earnings based on amortization approach:
Cost of products$2 $1 $3 $2 
Derivatives not designated as hedging instruments:
Gain (loss) recognized in:
Other income (expense), net$(3)$4 $(20)$— 
The estimated amount as of April 30, 2024 expected to be reclassified from accumulated other comprehensive income (loss) to earnings within the next twelve months is a gain of $9 million.
v3.24.1.1.u2
DEBT
 6 Months Ended
Apr. 30, 2024
Debt Disclosure [Abstract]  
DEBT
10.    DEBT
The following table summarizes the components of our debt:
April 30, 2024October 31, 2023
(in millions)
2024 Senior Notes at 4.55% ($600 face amount less unamortized costs of zero and $1)
$600 $599 
2027 Senior Notes at 4.60% ($700 face amount less unamortized costs of $2 and $2)
698 698 
2029 Senior Notes at 3.00% ($500 face amount less unamortized costs of $3 and $3)
497 497 
Total debt1,795 1,794 
Less: Current portion of long-term debt600 599 
Long-Term Debt$1,195 $1,195 
        
Revolving Credit Facility
On July 30, 2021, we entered into an amended and restated credit agreement (the “Revolving Credit Facility”) which provides a $750 million five-year unsecured revolving credit facility that expires on July 30, 2026 with an annual interest rate of LIBOR + 1 percent along with a facility fee of 0.125 percent per annum. On February 17, 2023, we entered into the first amendment to the Revolving Credit Facility to change the annual interest rate from LIBOR + 1 percent to SOFR + 1.1 percent. In addition, the Revolving Credit Facility permits the company, subject to certain customary conditions, on one or more occasions to request to increase the total commitments under the Revolving Credit Facility by up to $250 million in the aggregate. We may use amounts borrowed under the Revolving Credit Facility for general corporate purposes. As of April 30, 2024 and October 31, 2023, we had no borrowings outstanding under the Revolving Credit Facility. We were in compliance with the covenants of the Revolving Credit Facility during the six months ended April 30, 2024.
As part of the ESI Group acquisition, we assumed a revolving credit facility of 10 million euros that was subsequently terminated in April 2024.
Senior Notes
There have been no changes to the principal, maturity, interest rates and interest payment terms of the senior notes during the six months ended April 30, 2024 as compared to the senior notes described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.
ESI Group debt assumed
As part of the ESI Group acquisition, we assumed debt of $24 million, of which $10 million was payable within one year. The debt included a syndicated loan of $11 million payable through yearly installments until April 2025 with an annual interest rate of EURIBOR + 2 to 2.5 percent. We also assumed various fixed interest rate state-guaranteed loans and other bank borrowings of $13 million. During the six months ended April 30, 2024, we repaid the debt assumed as part of the acquisition.
Bridge Facility
On March 28, 2024, we entered into a commitment letter pursuant to which certain lenders agreed to provide a senior unsecured 364-day bridge loan facility of up to 1,350 million British pounds (“the Bridge Facility”) for the purpose of providing the financing to support a planned acquisition. We incurred costs in connection with the Bridge Facility of $5 million that are included in "other current assets" in the condensed consolidated balance sheet and are being amortized to interest expense over the term of the Bridge Facility.
As of April 30, 2024 and October 31, 2023, we had $41 million of outstanding letters of credit and surety bonds unrelated to the credit facility that were issued by various lenders.
The fair value of our debt, which is calculated from quoted prices that are primarily Level 1 inputs under the accounting guidance fair value hierarchy was approximately $1,721 million and $1,679 million as of April 30, 2024 and October 31, 2023, respectively
v3.24.1.1.u2
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS
 3 Months Ended
Apr. 30, 2024
Retirement Benefits [Abstract]  
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS
11.    RETIREMENT PLANS AND POST-RETIREMENT BENEFIT PLANS
For the three and six months ended April 30, 2024 and 2023, our net pension and post-retirement benefit cost (benefit) consisted of the following:
 Pensions 
 U.S. Defined Benefit PlansNon-U.S. Defined Benefit
Plans		U.S. Post-Retirement
Benefit Plan
 Three Months Ended
April 30,
 202420232024202320242023
(in millions)
Service cost—benefits earned during the period$3 $4 $2 $3 $— $— 
Interest cost on benefit obligation10 9 9 8 2 2 
Expected return on plan assets(12)(12)(13)(14)(3)(3)
Amortization of net actuarial loss3 2 2 2 — 1 
Net periodic benefit cost (benefit)$4 $3 $— $(1)$(1)$— 
 Pensions 
 U.S. Defined Benefit PlansNon-U.S. Defined Benefit
Plans		U.S. Post-Retirement
Benefit Plan
 Six Months Ended
April 30,
 202420232024202320242023
(in millions)
Service cost—benefits earned during the period$7 $8 $4 $5 $— $— 
Interest cost on benefit obligation20 18 18 15 4 4 
Expected return on plan assets(24)(24)(26)(26)(6)(6)
Amortization of net actuarial loss5 4 4 4 — 1 
Net periodic benefit cost (benefit)$8 $6 $— $(2)$(2)$(1)
We record the service cost component of net periodic benefit cost (benefit) in the same line item as other employee compensation costs. The non-service components of net periodic benefit cost (benefit), such as interest cost, expected return on assets, amortization of prior service cost, and actuarial gains or losses, are recorded within "other income (expense), net" in the condensed consolidated statement of operations.
We did not contribute to our U.S. defined benefit plans or U.S. post-retirement benefit plan during the three and six months ended April 30, 2024 and 2023. We contributed $2 million and $5 million, respectively, to our non-U.S. defined benefit plans during the three and six months ended April 30, 2024 and 2023.
For the remainder of 2024, we do not expect to contribute to our U.S. defined benefit plan and U.S. post-retirement benefit plan, and we expect to contribute $5 million to our non-U.S. defined benefit plans. The amounts we contribute depend upon, among other things, legal requirements, underlying asset returns, the plan’s funded status, the anticipated tax deductibility of the contribution, local practices, employee retirements, market conditions, interest rates and other factors.
v3.24.1.1.u2
SUPPLEMENTAL FINANCIAL INFORMATION (Notes)
 6 Months Ended
Apr. 30, 2024
Disclosure Text Block [Abstract]  
Additional Financial Information Disclosure
12.    SUPPLEMENTAL FINANCIAL INFORMATION
The following tables provide details of selected balance sheet items:
Cash, cash equivalents, and restricted cash
April 30, 2024October 31, 2023
(in millions)
Cash and cash equivalents$1,657 $2,472 
Restricted cash included in other assets17 16 
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows$1,674 $2,488 
Restricted cash relates primarily to deficit reduction contributions to an escrow account for one of our non-U.S. defined benefit pension plans and deposits held as collateral against bank guarantees.
Inventory
 April 30, 2024October 31, 2023
 (in millions)
Finished goods$382 $376 
Purchased parts and fabricated assemblies638 609 
Total inventory$1,020 $985 
Leases
The following table summarizes the components of our lease cost:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
(in millions)
Operating lease cost$16 $13 $31 $26 
Variable lease cost$4 $6 $11 $10 
Supplemental information related to our operating leases was as follows:
Six Months Ended
April 30,
20242023
(in millions)
Cash payment for operating leases$28 $27 
Right-of-use assets obtained in exchange for operating lease obligations$28 $23 
Standard warranty
Our warranties on products sold through direct sales channels are primarily for one year. Warranties for products sold through distribution channels are primarily for three years. We accrue for standard warranty costs based on historical trends in warranty charges. The accrual is reviewed regularly and periodically adjusted to reflect changes in warranty cost estimates. Estimated warranty charges are recorded within cost of products at the time related product revenue is recognized.
Activity related to the standard warranty accrual, which is included in other accrued and other long-term liabilities in the condensed consolidated balance sheet, is as follows:
 Six Months Ended
April 30,
 20242023
 (in millions)
Beginning balance$36 $32 
Accruals for warranties, including change in estimates10 16 
Settlements made during the period(13)(14)
Ending balance$33 $34 
Accruals for warranties due within one year$20 $20 
Accruals for warranties due after one year13 14 
Ending balance $33 $34 
Other current assets
 April 30, 2024October 31, 2023
 (in millions)
Prepaid assets$313 $284 
Other current assets169 168 
Total other current assets$482 $452 
Prepaid assets include deposits paid in advance to contract manufacturers of $212 million and $210 million as of April 30, 2024 and October 31, 2023, respectively.
v3.24.1.1.u2
COMMITMENTS AND CONTINGENCIES
 6 Months Ended
Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
13.    COMMITMENTS AND CONTINGENCIES
Commitments
During the six months ended April 30, 2024, there were no material changes to the purchase commitments as reported in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.
Contingencies
On August 3, 2021, we entered into a Consent Agreement with the Directorate of Defense Trade Controls, Bureau of Political-Military Affairs, Department of State ("DTCC") to resolve alleged violations of the Arms Export Control Act and the International Traffic in Arms Regulations ("ITAR"). Pursuant to the Consent Agreement, we were assessed a penalty of $6.6 million to be paid over three years, $2.5 million of which was suspended and designated for remediation activities over three years, including employment of a special compliance officer. The suspended portion of the penalty was satisfied by amounts spent on qualifying compliance activities. On April 23, 2024, we made the final payment on the penalty, bringing the total amount paid to $4.1 million. On May 3, 2024, we submitted a certification letter to the DTCC certifying that Keysight had implemented all aspects of the Consent Agreement and that Keysight’s compliance program is adequate to identify, prevent, detect, correct, and report violations of the ITAR. On May 22, 2024, the DTCC closed the Consent Agreement based on this certification and their conclusion that Keysight had fulfilled the terms of the Consent Agreement.
On January 1, 2022, Centripetal Networks filed a lawsuit in Federal District Court in Virginia, alleging that certain Keysight products infringe certain of Centripetal’s patents. In addition, in February 2022 Centripetal filed complaints in Germany alleging infringement of certain of Centripetal’s German patents, and in April 2022 Centripetal filed a complaint with the International Trade Commission (“ITC”) requesting that they investigate whether Keysight violated Section 337 of the Tariff Act (“Section 337”) and should be enjoined from importing certain products that are manufactured outside of the U.S. and which are alleged to infringe Centripetal patents. On December 5, 2023, the ITC issued its Notice of Determination that Keysight did not unfairly import products in violation of Section 337 and the investigation was terminated. Centripetal has appealed this determination. We deny the allegations and are aggressively defending each case.
Although there are no matters pending that we currently believe are probable and reasonably possible of having a material impact to our business, consolidated financial position, or results of operations or cash flows, the outcome of litigation is inherently uncertain and is difficult to predict. An adverse outcome in any outstanding lawsuit or proceeding could result in significant monetary damages or injunctive relief. If adverse results are above management’s expectations or are unforeseen, management may not have accrued for the liability, which could impact our results in future periods.
We are also involved in lawsuits, claims, investigations and proceedings, including, but not limited to, patent, employment, commercial and environmental matters, which arise in the ordinary course of business.
v3.24.1.1.u2
STOCKHOLDERS' EQUITY
 6 Months Ended
Apr. 30, 2024
Statement of Comprehensive Income [Abstract]  
STOCKHOLDERS EQUITY
14.    STOCKHOLDERS' EQUITY
Stock Repurchase Program
On March 6, 2023, our board of directors approved a stock repurchase program authorizing the purchase of up to $1,500 million of the company’s common stock, of which $785 million remained as of April 30, 2024.
Under our stock repurchase program, shares may be purchased from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means. All such shares and related costs are held as treasury stock and accounted for at trade date using the cost method. The stock repurchase program may be commenced, suspended or discontinued at any time at the company’s discretion and does not have an expiration date.
For the six months ended April 30, 2024, we repurchased 926,861 shares of common stock for $139 million. For the six months ended April 30, 2023, we repurchased 710,736 shares of common stock for $125 million.
Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss by component and related tax effects for the three and six months ended April 30, 2024 and 2023 were as follows:
Foreign currency translationNet defined benefit pension cost and post-retirement plan costsGains (losses) on derivativesTotal
Actuarial lossesPrior service credits
(in millions)
As of January 31, 2024$(140)$(381)$(6)$85 $(442)
Other comprehensive income (loss) before reclassifications(32)— — 4 (28)
Amounts reclassified out of accumulated other comprehensive gain (loss)— 5 — (3)2 
Tax benefit (expense)— (1)— — (1)
Other comprehensive income (loss)(32)4 — 1 (27)
As of April 30, 2024$(172)$(377)$(6)$86 $(469)
As of October 31, 2023$(167)$(382)$(6)$89 $(466)
Other comprehensive income (loss) before reclassifications(5)— — 1 (4)
Amounts reclassified out of accumulated other comprehensive gain (loss)— 7 — (5)2 
Tax benefit (expense)— (2)— 1 (1)
Other comprehensive income (loss)(5)5 — (3)(3)
As of April 30, 2024$(172)$(377)$(6)$86 $(469)
As of January 31, 2023$(104)$(368)$(6)$87 $(391)
Other comprehensive income (loss) before reclassifications(11)— — 1 (10)
Amounts reclassified out of accumulated other comprehensive gain (loss)— 4 — (1)3 
Tax benefit (expense)— (1)— — (1)
Other comprehensive income (loss)(11)3 — — (8)
As of April 30, 2023$(115)$(365)$(6)$87 $(399)
As of October 31, 2022$(185)$(373)$(6)$110 $(454)
Other comprehensive income (loss) before reclassifications70 — — (26)44 
Amounts reclassified out of accumulated other comprehensive gain (loss)— 10 — (3)7 
Tax benefit (expense)— (2)— 6 4 
Other comprehensive income (loss)70 8 — (23)55 
As of April 30, 2023$(115)$(365)$(6)$87 $(399)
Reclassifications out of accumulated other comprehensive loss into earnings for the three and six months ended April 30, 2024 and 2023 were as follows:
Details about accumulated other comprehensive loss componentsAmounts reclassified from accumulated other comprehensive lossAffected line item in statement of operations
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
(in millions)
Gain (loss) on derivatives$3 $— $6 $4 Cost of products
— 1 (1)(1)Selling, general and administrative
(1)— (1)— Benefit (provision) for income tax
2 1 4 3 Net of income tax
Net defined benefit pension cost and post-retirement plan costs:
Net actuarial loss(5)(4)(7)(10)Other income (expense), net
1 1 2 2 Benefit (provision) for income tax
(4)(3)(5)(8)Net of income tax
Total reclassifications for the period$(2)$(2)$(1)$(5)Net of income tax
v3.24.1.1.u2
SEGMENT INFORMATION
 6 Months Ended
Apr. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION
15.     SEGMENT INFORMATION
We report our results in two reportable segments: CSG and EISG. The results of our reportable segments are based on our management reporting system and are not necessarily in conformity with GAAP. The performance of each segment is measured based on several metrics, including 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 share-based compensation expense, amortization of acquisition-related balances, acquisition and integration costs, restructuring costs, interest income, interest expense and other items as noted in the reconciliations below.
Three Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Revenue$840 $376 $1,216 $937 $453 $1,390 
Segment income from operations$223 $71 $294 $266 $157 $423 
Six Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
Segment income from operations$449 $200 $649 $535 $297 $832 
The following table reconciles total reportable operating segments’ income from operations to our income before taxes, as reported:
Three Months EndedSix Months Ended
 April 30,April 30,
 2024202320242023
 (in millions)
Total reportable operating segments' income from operations$294 $423 $649 $832 
Share-based compensation(36)(29)(86)(84)
Amortization of acquisition-related balances(37)(25)(75)(48)
Acquisition and integration costs(19)(3)(36)(5)
Restructuring and others(25)(12)(54)(19)
Income from operations, as reported177 354 398 676 
Interest income18 22 41 41 
Interest expense(20)(20)(40)(39)
Other income (expense), net— 5 5 14 
Income before taxes, as reported$175 $361 $404 $692 
The following table presents segment assets directly managed by each segment:
April 30, 2024October 31, 2023
CSGEISGTotalCSGEISGTotal
 (in millions)
Segment assets$4,592 $2,892 $7,484 $4,410 $1,920 $6,330 
The increase in segment assets for the six months ended April 30, 2024 primarily represents assets acquired as part of the ESI Group acquisition. See Note 2, "Acquisitions," for additional information.
The following table reconciles segment assets to our total assets:
 April 30, 2024October 31, 2023
 (in millions)
Total reportable segments' assets$7,484 $6,330 
Cash and cash equivalents1,657 2,472 
Long-term investments102 81 
Long-term deferred tax assets668 671 
Accumulated amortization of other intangibles(1,414)(1,339)
Pension and other assets491 468 
Total assets$8,988 $8,683 
v3.24.1.1.u2
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Pay vs Performance Disclosure        
Net income $ 126 $ 283 $ 298 $ 543
v3.24.1.1.u2
Insider Trading Arrangements
 3 Months Ended
Apr. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
v3.24.1.1.u2
ACQUISITIONS (Tables)
 6 Months Ended
Apr. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date:
November 3, 2023
(in millions)
Cash and cash equivalents$35 
Short-term investments12
Accounts receivable28
Other current assets18
Property, plant and equipment4
Operating lease right-of-use assets8
Goodwill595
Other intangible assets494
Other assets3
Total assets acquired1,197 
Accounts payable(8)
Employee compensation and benefits(23)
Deferred revenue(14)
Income and other taxes payable(8)
Operating lease liabilities(3)
Other accrued liabilities(18)
Debt(24)
Retirement and post-retirement benefits(7)
Long-term operating lease liabilities(5)
Other long-term liabilities(110)
Net assets acquired$977 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The components of intangible assets acquired in connection with the ESI Group acquisition were as follows:
Estimated Fair ValueEstimated useful life
(in millions)(in years)
Developed technology$270 6
Customer relationships1606
Backlog153
Trademarks/Tradename22
Total amortizable intangible assets447
In-process research and development47
Total intangible assets$494 
Business Acquisition, Pro Forma Information
The following represents pro forma operating results as if ESI Group had been included in the company's condensed consolidated statements of operations as of the beginning of fiscal 2023:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
in millions, except per-share amounts
Net revenue$1,216 $1,444 $2,475 $2,867 
Net income$133 $276 $319 $525 
Net income per share - Basic$0.76 $1.55 $1.83 $2.95 
Net income per share - Diluted$0.76 $1.54 $1.82 $2.93 
v3.24.1.1.u2
REVENUE (Tables)
 6 Months Ended
Apr. 30, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
We disaggregate our revenue from contracts with customers by geographic region, end market, and timing of revenue recognition, as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Disaggregated revenue is presented for each of our reportable segments, CSG and EISG.
Three Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Region
Americas$397 $95 $492 $424 $93 $517 
Europe127 101 228 128 101 229 
Asia Pacific316 180 496 385 259 644 
Total revenue$840 $376 $1,216 $937 $453 $1,390 
End Market
Aerospace, Defense & Government$277 $— $277 $310 $— $310 
Commercial Communications563 — 563 627 — 627 
Electronic Industrial— 376 376 — 453 453 
Total revenue$840 $376 $1,216 $937 $453 $1,390 
Timing of Revenue Recognition
Revenue recognized at a point in time$658 $307 $965 $775 $390 $1,165 
Revenue recognized over time182 69 251 162 63 225 
Total revenue$840 $376 $1,216 $937 $453 $1,390 

Six Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Region
Americas$814 $192 $1,006 $876 $202 $1,078 
Europe259 224 483 275 211 486 
Asia Pacific606 380 986 725 482 1,207 
Total revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
End Market
Aerospace, Defense & Government$572 $— $572 $620 $— $620 
Commercial Communications1,107 — 1,107 1,256 — 1,256 
Electronic Industrial— 796 796 — 895 895 
Total revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
Timing of Revenue Recognition
Revenue recognized at a point in time$1,312 $653 $1,965 $1,552 $770 $2,322 
Revenue recognized over time367 143 510 324 125 449 
Total revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
Our point-in-time revenues are generated predominantly from the sale of various types of design and test software and hardware, and per-incident repair and calibration services. Perpetual software and the portion of term software subscription revenue in this category represents revenue recognized upfront upon transfer of control at the time of electronic delivery. Revenue on per-incident repair and calibration services is recognized when services are performed. Over-time revenues are generated predominantly from the repair and calibration contracts, extended warranties, technical support for hardware and software, certain software subscription and Software as a Service ("SaaS") product offerings, and professional services. Technical support for software and when-and-if available software updates and upgrades are sold either together with our software licenses and software subscriptions, including SaaS, or separately as part of our customer support programs.
Additionally, we provide custom solutions that include combinations of hardware, software, software subscriptions, installation, professional services, and other support services, and revenue may be recognized either up front on delivery or over time depending upon the terms of the contract.
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]
The following table provides a roll-forward of our contract liabilities, current and non-current:
Six Months Ended
April 30, 2024
(in millions)
Balance at October 31, 2023$757 
Deferral of revenue billed in current period, net of recognition383 
Deferred revenue arising out of acquisitions19 
Revenue recognized that was deferred as of the beginning of the period(370)
Foreign currency translation impact— 
Balance at April 30, 2024$789 
Of the $370 million of revenue recognized in the six months ended April 30, 2024 that was deferred as of the beginning of the period, approximately $146 million was recognized in the three months ended April 30, 2024.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]
Remaining Performance Obligations
Our remaining performance obligations, excluding contracts that have an original expected duration of one year or less, was approximately $580 million as of April 30, 2024, and represents the company’s obligation to deliver products and services and obtain customer acceptance on delivered products. As of April 30, 2024, we expect to fulfill 30 percent of these remaining performance obligations during the remainder of 2024, 44 percent during 2025, and 26 percent thereafter.
v3.24.1.1.u2
SHARE-BASED COMPENSATION (Tables)
 6 Months Ended
Apr. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Allocated Share-based compensation expense disclosure
Three Months EndedSix Months Ended
April 30,April 30,
 2024202320242023
 (in millions)
Cost of products and services$7 $7 $15 $16 
Research and development9 7 22 23 
Selling, general and administrative20 15 49 45 
Total share-based compensation expense$36 $29 $86 $84 
v3.24.1.1.u2
Income Taxes (Tables)
 6 Months Ended
Apr. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The following table provides income tax details:
 Three Months EndedSix Months Ended
April 30,April 30,
 2024202320242023
in millions, except percentages
Income before taxes$175$361$404$692
Provision for income taxes$49$78$106$149
Effective tax rate27.6 %21.8 %25.8 %21.6 %
v3.24.1.1.u2
NET INCOME PER SHARE (Tables)
 6 Months Ended
Apr. 30, 2024
Earnings Per Share [Abstract]  
Reconciliation of the numerators and denominators of the basic and diluted net income per share
The following table presents the calculation of basic and diluted net income per share:
Three Months EndedSix Months Ended
April 30,April 30,
 2024202320242023
in millions, except per-share amounts
Net income$126 $283 $298 $543 
Basic weighted-average shares174 178 175 178 
Potential common shares1 1 — 1 
Diluted weighted-average shares175 179 175 179 
Net income per share - basic$0.73 $1.59 $1.71 $3.04 
Net income per share - diluted$0.72 $1.58 $1.70 $3.02 
Diluted shares outstanding primarily include the dilutive effect of non-vested RSUs and in-the-money options. The diluted effect of such awards is calculated based on the average share price of each period using the treasury stock method, except where the inclusion of such awards would have an anti-dilutive impact. Anti-dilutive shares excluded from the calculation of diluted earnings per share were immaterial for the three and six months ended April 30, 2024 and 2023
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 6 Months Ended
Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill balances and movements for each reportable segments during the period
The goodwill balance as of April 30, 2024 and October 31, 2023 and the activity for the six months ended April 30, 2024 for each of our reportable operating segments were as follows:
 CSGEISGTotal
 (in millions)
Goodwill at October 31, 2023$1,057 $583 $1,640 
Foreign currency translation impact(5)(1)(6)
Goodwill arising from acquisitions124 524 648 
Goodwill at April 30, 2024$1,176 $1,106 $2,282 
There were no impairments for the three and six months ended April 30, 2024 and 2023. As of April 30, 2024 and October 31, 2023, accumulated impairment losses on goodwill was $709 million.
Components of other intangibles during the period
Other intangible assets as of April 30, 2024 and October 31, 2023 consisted of the following:
 April 30, 2024October 31, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Net Book
Value		Gross
Carrying
Amount		Accumulated
Amortization		Net Book
Value
 (in millions)
Developed technology$1,336 $983 $353 $1,033 $949 $84 
Backlog36 20 16 19 17 2 
Trademark/Tradename38 34 4 36 33 3 
Customer relationships573 377 196 406 340 66 
Total amortizable intangible assets$1,983 $1,414 $569 $1,494 $1,339 $155 
In-Process R&D40 — 40 — — — 
Total$2,023 $1,414 $609 $1,494 $1,339 $155 
Finite-lived Intangible Assets Amortization Expense [Table Text Block]
Estimated intangible assets amortization expense for each of the five succeeding fiscal years is as follows:
Amortization expense
(in millions)
2024 (remainder)$60 
2025$118 
2026$106 
2027$94 
2028$91 
2029$82 
Thereafter$18 
v3.24.1.1.u2
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Apr. 30, 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 April 30, 2024 and October 31, 2023 were as follows:
Fair Value Measurements at
 April 30, 2024October 31, 2023
 TotalLevel 1Level 2Level 3OtherTotalLevel 1Level 2Level 3Other
 (in millions)
Assets:        
Short-term        
Money market funds$993 $993 $— $— $— $1,934 $1,934 $— $— $— 
Derivative instruments (foreign exchange contracts)13 — 13 — — 18 — 18 — — 
Long-term
Equity investments74 74 — — — 56 56 — — — 
Other investments28 — — — 28 25 — — — 25 
Total assets measured at fair value$1,108 $1,067 $13 $— $28 $2,033 $1,990 $18 $— $25 
Liabilities:        
Short-term
Derivative instruments (foreign exchange contracts)$5 $— $5 $— $— $54 $— $54 $— $— 
Long-term
Deferred compensation liability31 — 31 — — 27 — 27 — — 
Total liabilities measured at fair value$36 $— $36 $— $— $81 $— $81 $— $— 
Debt Securities, Trading, and Equity Securities, FV-NI
Net recognized gain (loss) on sale of our equity and other investments were as follows:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
 (in millions)
Net realized gain (loss) on equity and other investments sold$— $— $— $— 
Net unrealized gain (loss) on equity and other investments still held$3 $(1)$10 $7 
v3.24.1.1.u2
DERIVATIVES (Tables)
 6 Months Ended
Apr. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Aggregated notional amounts by currency and designation The net notional amounts by currency and designation as of April 30, 2024 were as follows:
 Derivatives in Cash Flow Hedging RelationshipsDerivatives Not Designated as Hedging Instruments
 Forward
Contracts		Forward
Contracts
CurrencyBuy/(Sell)Buy/(Sell)
 (in millions)
Euro$15 $29 
British Pound13 — 
Singapore Dollar33 26 
Malaysian Ringgit107 9 
Japanese Yen(88)(77)
Other currencies(25)43 
Total$55 $30 
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 condensed consolidated balance sheet. The gross fair values and balance sheet presentation of derivative instruments held as of April 30, 2024 and October 31, 2023 were as follows:
Fair Values of Derivative Instruments
Assets DerivativesLiabilities Derivatives
Fair Value Fair Value
Balance Sheet LocationApril 30, 2024October 31, 2023Balance Sheet LocationApril 30, 2024October 31, 2023
(in millions)
Derivatives designated as hedging instruments:     
Cash flow hedges
Foreign exchange contracts     
Other current assets$8 $16 Other accrued liabilities$3 $7 
Derivatives not designated as hedging instruments:     
Foreign exchange contracts     
Other current assets5 2 Other accrued liabilities2 47 
Total derivatives$13 $18  $5 $54 
Effect of derivative instruments for foreign exchange contracts in the consolidated statement of operations
The effect of derivative instruments for foreign exchange contracts designated as hedging instruments and for those not designated as hedging instruments in the condensed consolidated statement of operations was as follows:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
 (in millions)
Derivatives designated as hedging instruments:  
Cash Flow Hedges
Interest rate swap contracts:
Gain (loss) recognized in accumulated other comprehensive income (loss)$— $(2)$— $(26)
Foreign exchange contracts:
Gain (loss) recognized in accumulated other comprehensive income (loss)$4 $3 $1 $— 
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings:
Cost of products$3 $— $6 $4 
Selling, general and administrative$— $1 $(1)$(1)
Gain (loss) excluded from effectiveness testing recognized in earnings based on amortization approach:
Cost of products$2 $1 $3 $2 
Derivatives not designated as hedging instruments:
Gain (loss) recognized in:
Other income (expense), net$(3)$4 $(20)$— 
v3.24.1.1.u2
DEBT (Tables)
 6 Months Ended
Apr. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The following table summarizes the components of our debt:
April 30, 2024October 31, 2023
(in millions)
2024 Senior Notes at 4.55% ($600 face amount less unamortized costs of zero and $1)
$600 $599 
2027 Senior Notes at 4.60% ($700 face amount less unamortized costs of $2 and $2)
698 698 
2029 Senior Notes at 3.00% ($500 face amount less unamortized costs of $3 and $3)
497 497 
Total debt1,795 1,794 
Less: Current portion of long-term debt600 599 
Long-Term Debt$1,195 $1,195 
v3.24.1.1.u2
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Tables)
 6 Months Ended
Apr. 30, 2024
Retirement Benefits [Abstract]  
Schedule of net pension and post-retirement benefit costs
For the three and six months ended April 30, 2024 and 2023, our net pension and post-retirement benefit cost (benefit) consisted of the following:
 Pensions 
 U.S. Defined Benefit PlansNon-U.S. Defined Benefit
Plans		U.S. Post-Retirement
Benefit Plan
 Three Months Ended
April 30,
 202420232024202320242023
(in millions)
Service cost—benefits earned during the period$3 $4 $2 $3 $— $— 
Interest cost on benefit obligation10 9 9 8 2 2 
Expected return on plan assets(12)(12)(13)(14)(3)(3)
Amortization of net actuarial loss3 2 2 2 — 1 
Net periodic benefit cost (benefit)$4 $3 $— $(1)$(1)$— 
 Pensions 
 U.S. Defined Benefit PlansNon-U.S. Defined Benefit
Plans		U.S. Post-Retirement
Benefit Plan
 Six Months Ended
April 30,
 202420232024202320242023
(in millions)
Service cost—benefits earned during the period$7 $8 $4 $5 $— $— 
Interest cost on benefit obligation20 18 18 15 4 4 
Expected return on plan assets(24)(24)(26)(26)(6)(6)
Amortization of net actuarial loss5 4 4 4 — 1 
Net periodic benefit cost (benefit)$8 $6 $— $(2)$(2)$(1)
v3.24.1.1.u2
SUPPLEMENTAL FINANCIAL INFORMATION (Tables)
 6 Months Ended
Apr. 30, 2024
Disclosure Text Block [Abstract]  
Cash, cash equivalents and restricted cash [Table Text Block]
Cash, cash equivalents, and restricted cash
April 30, 2024October 31, 2023
(in millions)
Cash and cash equivalents$1,657 $2,472 
Restricted cash included in other assets17 16 
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows$1,674 $2,488 
Schedule of Inventory, Current [Table Text Block]
Inventory
 April 30, 2024October 31, 2023
 (in millions)
Finished goods$382 $376 
Purchased parts and fabricated assemblies638 609 
Total inventory$1,020 $985 
Lease, Cost [Table Text Block]
The following table summarizes the components of our lease cost:
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
(in millions)
Operating lease cost$16 $13 $31 $26 
Variable lease cost$4 $6 $11 $10 
Supplemental information related to our operating leases was as follows:
Six Months Ended
April 30,
20242023
(in millions)
Cash payment for operating leases$28 $27 
Right-of-use assets obtained in exchange for operating lease obligations$28 $23 
Schedule of Product Warranty Liability [Table Text Block]
Our warranties on products sold through direct sales channels are primarily for one year. Warranties for products sold through distribution channels are primarily for three years. We accrue for standard warranty costs based on historical trends in warranty charges. The accrual is reviewed regularly and periodically adjusted to reflect changes in warranty cost estimates. Estimated warranty charges are recorded within cost of products at the time related product revenue is recognized.
Activity related to the standard warranty accrual, which is included in other accrued and other long-term liabilities in the condensed consolidated balance sheet, is as follows:
 Six Months Ended
April 30,
 20242023
 (in millions)
Beginning balance$36 $32 
Accruals for warranties, including change in estimates10 16 
Settlements made during the period(13)(14)
Ending balance$33 $34 
Accruals for warranties due within one year$20 $20 
Accruals for warranties due after one year13 14 
Ending balance $33 $34 
Schedule of Other Current Assets
Other current assets
 April 30, 2024October 31, 2023
 (in millions)
Prepaid assets$313 $284 
Other current assets169 168 
Total other current assets$482 $452 
Prepaid assets include deposits paid in advance to contract manufacturers of $212 million and $210 million as of April 30, 2024 and October 31, 2023, respectively.
v3.24.1.1.u2
STOCKHOLDERS' EQUITY (Tables)
 6 Months Ended
Apr. 30, 2024
Statement of Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive loss by component and related tax effects for the three and six months ended April 30, 2024 and 2023 were as follows:
Foreign currency translationNet defined benefit pension cost and post-retirement plan costsGains (losses) on derivativesTotal
Actuarial lossesPrior service credits
(in millions)
As of January 31, 2024$(140)$(381)$(6)$85 $(442)
Other comprehensive income (loss) before reclassifications(32)— — 4 (28)
Amounts reclassified out of accumulated other comprehensive gain (loss)— 5 — (3)2 
Tax benefit (expense)— (1)— — (1)
Other comprehensive income (loss)(32)4 — 1 (27)
As of April 30, 2024$(172)$(377)$(6)$86 $(469)
As of October 31, 2023$(167)$(382)$(6)$89 $(466)
Other comprehensive income (loss) before reclassifications(5)— — 1 (4)
Amounts reclassified out of accumulated other comprehensive gain (loss)— 7 — (5)2 
Tax benefit (expense)— (2)— 1 (1)
Other comprehensive income (loss)(5)5 — (3)(3)
As of April 30, 2024$(172)$(377)$(6)$86 $(469)
As of January 31, 2023$(104)$(368)$(6)$87 $(391)
Other comprehensive income (loss) before reclassifications(11)— — 1 (10)
Amounts reclassified out of accumulated other comprehensive gain (loss)— 4 — (1)3 
Tax benefit (expense)— (1)— — (1)
Other comprehensive income (loss)(11)3 — — (8)
As of April 30, 2023$(115)$(365)$(6)$87 $(399)
As of October 31, 2022$(185)$(373)$(6)$110 $(454)
Other comprehensive income (loss) before reclassifications70 — — (26)44 
Amounts reclassified out of accumulated other comprehensive gain (loss)— 10 — (3)7 
Tax benefit (expense)— (2)— 6 4 
Other comprehensive income (loss)70 8 — (23)55 
As of April 30, 2023$(115)$(365)$(6)$87 $(399)
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive loss into earnings for the three and six months ended April 30, 2024 and 2023 were as follows:
Details about accumulated other comprehensive loss componentsAmounts reclassified from accumulated other comprehensive lossAffected line item in statement of operations
Three Months EndedSix Months Ended
April 30,April 30,
2024202320242023
(in millions)
Gain (loss) on derivatives$3 $— $6 $4 Cost of products
— 1 (1)(1)Selling, general and administrative
(1)— (1)— Benefit (provision) for income tax
2 1 4 3 Net of income tax
Net defined benefit pension cost and post-retirement plan costs:
Net actuarial loss(5)(4)(7)(10)Other income (expense), net
1 1 2 2 Benefit (provision) for income tax
(4)(3)(5)(8)Net of income tax
Total reclassifications for the period$(2)$(2)$(1)$(5)Net of income tax
v3.24.1.1.u2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Apr. 30, 2024
Segment Reporting Information [Line Items]  
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]
Three Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Revenue$840 $376 $1,216 $937 $453 $1,390 
Segment income from operations$223 $71 $294 $266 $157 $423 
Six Months Ended
April 30,
20242023
CSGEISGTotalCSGEISGTotal
 (in millions)
Revenue$1,679 $796 $2,475 $1,876 $895 $2,771 
Segment income from operations$449 $200 $649 $535 $297 $832 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]
The following table reconciles total reportable operating segments’ income from operations to our income before taxes, as reported:
Three Months EndedSix Months Ended
 April 30,April 30,
 2024202320242023
 (in millions)
Total reportable operating segments' income from operations$294 $423 $649 $832 
Share-based compensation(36)(29)(86)(84)
Amortization of acquisition-related balances(37)(25)(75)(48)
Acquisition and integration costs(19)(3)(36)(5)
Restructuring and others(25)(12)(54)(19)
Income from operations, as reported177 354 398 676 
Interest income18 22 41 41 
Interest expense(20)(20)(40)(39)
Other income (expense), net— 5 5 14 
Income before taxes, as reported$175 $361 $404 $692 
Assets And Capital Expenditures Directly Managed By Each Segment
The following table presents segment assets directly managed by each segment:
April 30, 2024October 31, 2023
CSGEISGTotalCSGEISGTotal
 (in millions)
Segment assets$4,592 $2,892 $7,484 $4,410 $1,920 $6,330 
The increase in segment assets for the six months ended April 30, 2024 primarily represents assets acquired as part of the ESI Group acquisition. See Note 2, "Acquisitions," for additional information.
The following table reconciles segment assets to our total assets:
 April 30, 2024October 31, 2023
 (in millions)
Total reportable segments' assets$7,484 $6,330 
Cash and cash equivalents1,657 2,472 
Long-term investments102 81 
Long-term deferred tax assets668 671 
Accumulated amortization of other intangibles(1,414)(1,339)
Pension and other assets491 468 
Total assets$8,988 $8,683 
v3.24.1.1.u2
OVERVIEW, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)
$ in Millions
 6 Months Ended
Nov. 03, 2023
Apr. 30, 2024
Apr. 30, 2023
Reclassification [Line Items]      
Payments to Acquire Businesses, Net of Cash Acquired   $ 556 $ 85
ESI Group SA      
Reclassification [Line Items]      
Payments to Acquire Businesses, Net of Cash Acquired $ 512    
Payments to Acquire Businesses and Interest in Affiliates   935  
ESI Group SA | Other Nonoperating Income (Expense)      
Reclassification [Line Items]      
Net Income (Loss) Attributable to Noncontrolling Interest   $ 4  
v3.24.1.1.u2
ACQUISITIONS OF ESI (Narrative) (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Nov. 03, 2023
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Nov. 03, 2023
€ / shares
Business Acquisition [Line Items]              
Payments to Acquire Businesses, Net of Cash Acquired         $ 556 $ 85  
Acquisition of non-controlling interests         458 0  
Share-based Compensation Expense   $ 36 $ 29   $ 86 $ 84  
ESI Group SA              
Business Acquisition [Line Items]              
Business Acquisition, Effective Date of Acquisition         Nov. 03, 2023    
Business Acquisition, Percentage of Voting Interests Acquired 50.60%            
Payments to Acquire Businesses, Net of Cash Acquired $ 512            
Acquisition of non-controlling interests         $ 458    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities $ 7            
Business Acquisition, Share Price | € / shares             € 155
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual   26   $ 94      
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual   22   $ 20      
Discount rate used to value In Process R&D 12.00%            
Payments to Acquire in Process Research and Development $ 7            
Business Combination, Integration Related Costs   7     21    
Share-based Compensation Expense   $ 1     $ 6    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities $ 98            
v3.24.1.1.u2
ACQUISITIONS (Allocation of Purchase Price) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Nov. 03, 2023
Apr. 30, 2024
Apr. 30, 2024
Asset Acquisition [Line Items]      
Goodwill     $ 648
ESI Group SA      
Asset Acquisition [Line Items]      
Cash and cash equivalents $ 35    
Short-term investments 12    
Accounts receivable 28    
Other current assets 18    
Property, plant and equipment 4    
Operating lease right-of-use assets 8    
Goodwill 595    
Other intangible assets 494    
Other assets 3    
Total assets acquired 1,197    
Accounts payable (8)    
Employee compensation and benefits (23)    
Deferred revenue (14)    
Income and other taxes payable (8)    
Operating lease liabilities (3)    
Other accrued liabilities (18)    
Debt (24)    
Retirement and post-retirement benefits (7)    
Long-term operating lease liabilities (5)    
Other long-term liabilities (110)    
Net assets acquired $ 977    
Goodwill, Measurement Period Adjustment   $ (8)  
v3.24.1.1.u2
ACQUISITIONS (Intangible Assets Acquired) (Details) - USD ($)
$ in Millions
Nov. 03, 2023
Apr. 30, 2024
Oct. 31, 2023
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount   $ 1,983 $ 1,494
Total intangible assets   2,023 1,494
ESI Group SA      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount $ 447    
Total intangible assets 494    
In Process Research and Development      
Acquired Finite-Lived Intangible Assets [Line Items]      
In-process research and development   40 0
In Process Research and Development | ESI Group SA      
Acquired Finite-Lived Intangible Assets [Line Items]      
In-process research and development 47    
Developed technology      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount   1,336 1,033
Developed technology | ESI Group SA      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount $ 270    
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 6 years    
Customer relationships      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount   573 406
Customer relationships | ESI Group SA      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount $ 160    
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 6 years    
Backlog      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount   $ 36 $ 19
Backlog | ESI Group SA      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount $ 15    
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 3 years    
Trademarks and Trade Names | ESI Group SA      
Acquired Finite-Lived Intangible Assets [Line Items]      
Amortizable intangible assets, Gross carrying amount $ 2    
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 2 years    
v3.24.1.1.u2
ACQUISITIONS (Pro Forma Information) (Details) - ESI Group SA - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]        
Net revenue $ 1,216 $ 1,444 $ 2,475 $ 2,867
Net income $ 133 $ 276 $ 319 $ 525
Net income per share - Basic $ 0.76 $ 1.55 $ 1.83 $ 2.95
Net income per share - Diluted $ 0.76 $ 1.54 $ 1.82 $ 2.93
v3.24.1.1.u2
ACQUISITION OF RISCURE (Details) - USD ($)
$ in Millions
 6 Months Ended
Feb. 21, 2024
Apr. 30, 2024
Apr. 30, 2023
Business Acquisition [Line Items]      
Payments to Acquire Businesses, Net of Cash Acquired   $ 556 $ 85
Goodwill   $ 648  
Riscure [Member]      
Business Acquisition [Line Items]      
Business Acquisition, Effective Date of Acquisition   Feb. 21, 2024  
Payments to Acquire Businesses, Net of Cash Acquired $ 78    
Goodwill 52    
Other intangible assets $ 35    
v3.24.1.1.u2
REVENUE (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax $ 1,216 $ 1,390 $ 2,475 $ 2,771
Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 840 937 1,679 1,876
Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 376 453 796 895
Revenue recognized at a point in time        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 965 1,165 1,965 2,322
Revenue recognized at a point in time | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 658 775 1,312 1,552
Revenue recognized at a point in time | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 307 390 653 770
Revenue recognized over time        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 251 225 510 449
Revenue recognized over time | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 182 162 367 324
Revenue recognized over time | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 69 63 143 125
Aerospace, Defense & Government        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 277 310 572 620
Aerospace, Defense & Government | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 277 310 572 620
Aerospace, Defense & Government | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 0 0 0
Commercial Communications        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 563 627 1,107 1,256
Commercial Communications | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 563 627 1,107 1,256
Commercial Communications | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 0 0 0
Electronic Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 376 453 796 895
Electronic Industrial | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 0 0 0 0
Electronic Industrial | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 376 453 796 895
Americas        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 492 517 1,006 1,078
Americas | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 397 424 814 876
Americas | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 95 93 192 202
Europe        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 228 229 483 486
Europe | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 127 128 259 275
Europe | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 101 101 224 211
Asia Pacific        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 496 644 986 1,207
Asia Pacific | Communications Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax 316 385 606 725
Asia Pacific | Electronic Industrial Solutions Group        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Including Assessed Tax $ 180 $ 259 $ 380 $ 482
v3.24.1.1.u2
REVENUE Contract Assets (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Accounts Receivable [Member]    
Contract with Customer, Asset, after Allowance for Credit Loss, Current $ 75 $ 58
Other Noncurrent Assets [Member]    
Contract with Customer, Asset, after Allowance for Credit Loss, Current $ 75 $ 58
v3.24.1.1.u2
REVENUE Capitalized Contractual Cost (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Oct. 31, 2023
Capitalized Contract Cost [Line Items]          
Capitalized Contract Cost, Amortization $ 14 $ 18 $ 30 $ 37  
Other Assets [Member]          
Capitalized Contract Cost [Line Items]          
Capitalized Contract Cost, Net $ 38   $ 38   $ 43
v3.24.1.1.u2
REVENUE CONTRACT LIABILITIES ROLL FORWARD (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2024
Balance at October 31, 2023   $ 757
Deferral of revenue billed in current period, net of recognition   383
Deferred revenue arising out of acquisitions   19
Revenue recognized that was deferred as of the beginning of the period $ (146) (370)
Foreign currency translation impact   0
Balance at April 30, 2024 $ 789 $ 789
v3.24.1.1.u2
REVENUE Remaining performance obligations (Details)
$ in Millions
Apr. 30, 2024
USD ($)
Revenue from Contract with Customer [Abstract]  
Revenue, Remaining Performance Obligation, Amount $ 580
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 580
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 6 months
Revenue, Remaining Performance Obligation, Percentage 30.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-11-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 1 year
Revenue, Remaining Performance Obligation, Percentage 44.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-11-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Revenue, Remaining Performance Obligation, Percentage 26.00%
v3.24.1.1.u2
SHARE-BASED COMPENSATION (Allocation of period costs) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Share-based Compensation Expense, Allocation of Recognized Period Costs [Line Items]        
Share-based Compensation Expense $ 36 $ 29 $ 86 $ 84
ESI Group SA        
Share-based Compensation Expense, Allocation of Recognized Period Costs [Line Items]        
Share-based Compensation Expense 1   6  
Cost of products and services        
Share-based Compensation Expense, Allocation of Recognized Period Costs [Line Items]        
Share-based Compensation Expense 7 7 15 16
Research and development        
Share-based Compensation Expense, Allocation of Recognized Period Costs [Line Items]        
Share-based Compensation Expense 9 7 22 23
Selling, general and administrative        
Share-based Compensation Expense, Allocation of Recognized Period Costs [Line Items]        
Share-based Compensation Expense $ 20 $ 15 $ 49 $ 45
v3.24.1.1.u2
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION (Textuals) (Details) - USD ($)
$ in Millions
 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Share-Based Payment Arrangement [Abstract]    
Share-based Compensation, Capitalized within inventory $ 2 $ 2
v3.24.1.1.u2
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Income Tax Disclosure [Abstract]        
Income before taxes $ 175 $ 361 $ 404 $ 692
Provision for income taxes $ 49 $ 78 $ 106 $ 149
Effective Income Tax Rate, Percent 27.60% 21.80% 25.80% 21.60%
Net Discrete Expense (Benefit) $ 1 $ (3) $ (1) $ (2)
Decrease in income tax provision due to tax incentives, Aggregate Dollar Amount     $ 22 $ 49
v3.24.1.1.u2
INCOME TAXES INCOME TAXES (Tax incentives) (Details) - USD ($)
$ in Millions
 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Income Tax Disclosure [Abstract]    
Tax incentives, Description Keysight benefits from tax incentives in several jurisdictions, most significantly in Singapore and Malaysia, that will expire at various times in the future. The tax incentives provide lower rates of taxation on certain classes of income and require thresholds of investments and employment in those jurisdictions. The Singapore tax incentive will expire July 31, 2024, and the Malaysia tax incentive will expire October 31, 2025. The expiration of the Singapore tax incentive in the current year has been reflected in the annual tax forecast. The impact of the tax incentives decreased the income tax provision  
Decrease in income tax provision due to tax incentives, Aggregate Dollar Amount $ 22 $ 49
v3.24.1.1.u2
INCOME TAXES INCOME TAXES (Income tax examination) (Details)
$ in Millions
 6 Months Ended
Apr. 30, 2024
USD ($)
Income Tax Examination [Line Items]  
Income Tax Examination, Description This tax year predates our separation from Agilent. However, pursuant to the agreement between Agilent and Keysight pertaining to tax matters, as finalized at the time of separation, for certain entities, including Malaysia, any historical tax liability is the responsibility of Keysight.
Malaysia Tax Authority [Member]  
Income Tax Examination [Line Items]  
Tax Adjustments, Settlements, and Unusual Provisions $ 68
v3.24.1.1.u2
NET INCOME PER SHARE NET INCOME PER SHARE (Computation) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Earnings Per Share [Abstract]        
Net income $ 126 $ 283 $ 298 $ 543
Basic weighted-average shares 174 178 175 178
Potential common shares 1 1 0 1
Diluted weighted-average shares 175 179 175 179
Net income per share - basic $ 0.73 $ 1.59 $ 1.71 $ 3.04
Net income per share - diluted $ 0.72 $ 1.58 $ 1.70 $ 3.02
v3.24.1.1.u2
NET INCOME PER SHARE (Narratives) (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Antidilutive Securities Excluded from EPS Computation        
Antidilutive Securities Excluded from Computation of Earnings Per Share, Number 0 0 0 0
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS (Goodwill Roll forward) (Details)
$ in Millions
 6 Months Ended
Apr. 30, 2024
USD ($)
Goodwill [Roll Forward]  
Goodwill at October 31, 2023 $ 1,640
Foreign currency translation impact (6)
Goodwill 648
Goodwill at April 30, 2024 2,282
Communications Solutions Group  
Goodwill [Roll Forward]  
Goodwill at October 31, 2023 1,057
Foreign currency translation impact (5)
Goodwill 124
Goodwill at April 30, 2024 1,176
Electronic Industrial Solutions Group  
Goodwill [Roll Forward]  
Goodwill at October 31, 2023 583
Foreign currency translation impact (1)
Goodwill 524
Goodwill at April 30, 2024 $ 1,106
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS IMPAIRMENT (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Oct. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]          
Goodwill, Impairment Loss $ 0 $ 0 $ 0 $ 0  
Goodwill, Impaired, Accumulated Impairment Loss $ 709   $ 709   $ 709
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS (Disclosures and Components of Purchased Other Intangibles) (Details) - USD ($)
$ in Millions
 6 Months Ended
Apr. 30, 2024
Oct. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Amortizable intangible assets, Gross carrying amount $ 1,983 $ 1,494
Accumulated Amortization and impairments 1,414 1,339
Amortizable intangible assets, Net book value 569 155
In Process Research and Development    
Finite-Lived Intangible Assets [Line Items]    
In-process research and development 40 0
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Amortizable intangible assets, Gross carrying amount 1,336 1,033
Accumulated Amortization and impairments 983 949
Amortizable intangible assets, Net book value 353 84
Backlog    
Finite-Lived Intangible Assets [Line Items]    
Amortizable intangible assets, Gross carrying amount 36 19
Accumulated Amortization and impairments 20 17
Amortizable intangible assets, Net book value 16 2
Trademark/Tradename    
Finite-Lived Intangible Assets [Line Items]    
Amortizable intangible assets, Gross carrying amount 38 36
Accumulated Amortization and impairments 34 33
Amortizable intangible assets, Net book value 4 3
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Amortizable intangible assets, Gross carrying amount 573 406
Accumulated Amortization and impairments 377 340
Amortizable intangible assets, Net book value 196 $ 66
In Process Research and Development    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Period Increase (Decrease) $ 7  
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS (Acquisition Narratives) (Details) - USD ($)
$ in Millions
 6 Months Ended
Nov. 03, 2023
Apr. 30, 2024
Business Acquisition [Line Items]    
Goodwill   $ 648
Finite-lived Intangible Assets Acquired   $ 529
ESI Group SA    
Business Acquisition [Line Items]    
Goodwill $ 595  
Other intangible assets $ 494  
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS (Intangible assets narratives) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]        
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)     $ 0  
Amortization of Intangible Assets $ 37 $ 25 $ 75 $ 48
v3.24.1.1.u2
GOODWILL AND OTHER INTANGIBLE ASSETS (Finite-Lived Assets Future Amortization Expense) (Details)
$ in Millions
Apr. 30, 2024
USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]  
2024 (remainder) $ 60
2025 118
2026 106
2027 94
2028 91
2029 82
Thereafter $ 18
v3.24.1.1.u2
FAIR VALUE MEASUREMENTS (Fair value of assets and liabilities measured on a recurring basis) (Details) - Fair Value, Measurements, Recurring - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Assets Short - term [Abstract]    
Money market funds $ 993 $ 1,934
Derivative instruments (foreign exchange contracts) 13 18
Assets, Long-term [Abstract]    
Equity investments 74 56
Equity investments - other 28 25
Total assets measured at fair value 1,108 2,033
Liabilities, Short-term [Abstract]    
Derivative instruments (foreign exchange contracts) 5 54
Liabilities Long-term [Abstract]    
Deferred compensation liability 31 27
Total liabilities measured at fair value 36 81
Level 1    
Assets Short - term [Abstract]    
Money market funds 993 1,934
Derivative instruments (foreign exchange contracts) 0 0
Assets, Long-term [Abstract]    
Equity investments 74 56
Equity investments - other 0 0
Total assets measured at fair value 1,067 1,990
Liabilities, Short-term [Abstract]    
Derivative instruments (foreign exchange contracts) 0 0
Liabilities Long-term [Abstract]    
Deferred compensation liability 0 0
Total liabilities measured at fair value 0 0
Level 2    
Assets Short - term [Abstract]    
Money market funds 0 0
Derivative instruments (foreign exchange contracts) 13 18
Assets, Long-term [Abstract]    
Equity investments 0 0
Equity investments - other 0 0
Total assets measured at fair value 13 18
Liabilities, Short-term [Abstract]    
Derivative instruments (foreign exchange contracts) 5 54
Liabilities Long-term [Abstract]    
Deferred compensation liability 31 27
Total liabilities measured at fair value 36 81
Level 3    
Assets Short - term [Abstract]    
Money market funds 0 0
Derivative instruments (foreign exchange contracts) 0 0
Assets, Long-term [Abstract]    
Equity investments 0 0
Equity investments - other 0 0
Total assets measured at fair value 0 0
Liabilities, Short-term [Abstract]    
Derivative instruments (foreign exchange contracts) 0 0
Liabilities Long-term [Abstract]    
Deferred compensation liability 0 0
Total liabilities measured at fair value $ 0 $ 0
v3.24.1.1.u2
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Net recognized gains losses on equity securities) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Debt and Equity Securities, Gain (Loss) [Abstract]        
Equity Securities, FV-NI, Realized Gain $ 0 $ 0 $ 0 $ 0
Equity Securities, FV-NI, Unrealized Gain (Loss) 3 $ (1) 10 $ 7
Equity Method Investments $ 10   $ 10  
v3.24.1.1.u2
DERIVATIVES Derivative, interest rate swaps (Details)
€ in Millions, $ in Millions
 6 Months Ended
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Apr. 30, 2024
EUR (€)
Oct. 31, 2020
USD ($)
Derivative [Line Items]        
Interest rate swap agreement termination proceeds $ 0 $ 107    
Treasury Lock        
Derivative [Line Items]        
Derivative Liability, Notional Amount       $ 600
Interest Rate Swap [Member]        
Derivative [Line Items]        
Derivative Liability, Notional Amount | €     € 5  
v3.24.1.1.u2
DERIVATIVES ACQUISITION (Details)
€ in Millions, $ in Millions
 6 Months Ended 10 Months Ended
Apr. 30, 2024
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2024
EUR (€)
Oct. 31, 2023
EUR (€)
Oct. 31, 2020
USD ($)
Derivative [Line Items]          
Derivative, Loss on Derivative | $ $ 18        
ESI Group SA          
Derivative [Line Items]          
Derivative, Loss on Derivative | $   $ 63      
Treasury Lock          
Derivative Instruments and Hedging Activities Disclosure [Abstract]          
Derivative Liability, Notional Amount | $         $ 600
Derivative [Line Items]          
Derivative Liability, Notional Amount | $         $ 600
Interest Rate Swap [Member]          
Derivative Instruments and Hedging Activities Disclosure [Abstract]          
Derivative Liability, Notional Amount | €     € 5    
Derivative [Line Items]          
Derivative Liability, Notional Amount | €     € 5    
Foreign Exchange Forward | Not Designated as Hedging Instrument          
Derivative Instruments and Hedging Activities Disclosure [Abstract]          
Derivative Liability, Notional Amount | €       € 930  
Derivative [Line Items]          
Derivative Liability, Notional Amount | €       € 930  
v3.24.1.1.u2
DERIVATIVES, Disclosures and derivative instrument aggregated notional amounts by currency and designations (Details)
$ in Millions
Apr. 30, 2024
USD ($)
contracts
Open Forward Foreign Currency Contract, Identifier [Axis]: British Pound - Cash Flow Hedging  
Derivative [Line Items]  
Derivative Liability, Notional Amount $ 13
Open Forward Foreign Currency Contract, Identifier [Axis]: British Pound - Not Designated as Hedging Instrument  
Derivative [Line Items]  
Derivative Liability, Notional Amount 0
Open Forward Foreign Currency Contract, Identifier [Axis]: Euro - Cash Flow Hedging  
Derivative [Line Items]  
Derivative Liability, Notional Amount 15
Open Forward Foreign Currency Contract, Identifier [Axis]: Euro - Not Designated as Hedging Instrument  
Derivative [Line Items]  
Derivative Liability, Notional Amount 29
Open Forward Foreign Currency Contract, Identifier [Axis]: Japanese Yen - Cash Flow Hedging  
Derivative [Line Items]  
Derivative Asset 88
Open Forward Foreign Currency Contract, Identifier [Axis]: Japanese Yen - Not Designated as Hedging Instrument  
Derivative [Line Items]  
Derivative Asset 77
Open Forward Foreign Currency Contract, Identifier [Axis]: Malaysian Ringgit - Cash Flow Hedging  
Derivative [Line Items]  
Derivative Liability, Notional Amount 107
Open Forward Foreign Currency Contract, Identifier [Axis]: Malaysian Ringgit - Not Designated as Hedging Instrument  
Derivative [Line Items]  
Derivative Liability, Notional Amount 9
Open Forward Foreign Currency Contract, Identifier [Axis]: Other Currencies - Cash Flow Hedging  
Derivative [Line Items]  
Derivative Asset 25
Open Forward Foreign Currency Contract, Identifier [Axis]: Other currencies - Not Designated as Hedging Instrument  
Derivative [Line Items]  
Derivative Liability, Notional Amount 43
Open Forward Foreign Currency Contract, Identifier [Axis]: Singapore Dollar - Cash Flow Hedging  
Derivative [Line Items]  
Derivative Liability, Notional Amount 33
Open Forward Foreign Currency Contract, Identifier [Axis]: Singapore Dollar - Not Designated as Hedging Instrument  
Derivative [Line Items]  
Derivative Liability, Notional Amount 26
Open Forward Foreign Currency Contract, Identifier [Axis]: Total - Cash Flow Hedging  
Derivative [Line Items]  
Derivative Liability, Notional Amount 55
Open Forward Foreign Currency Contract, Identifier [Axis]: Total - Not Designated as Hedging Instrument  
Derivative [Line Items]  
Derivative Liability, Notional Amount $ 30
Foreign Exchange Forward | Cash Flow Hedging  
Derivative [Line Items]  
Number of Foreign Currency Derivatives Held | contracts 196
Foreign Exchange Forward | Not Designated as Hedging Instrument  
Derivative [Line Items]  
Number of Foreign Currency Derivatives Held | contracts 85
v3.24.1.1.u2
DERIVATIVES, Fair value of derivative instruments and Consolidated Balance Sheet location (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Derivative Fair Value by Balance Sheet Location [Abstract]    
Total derivatives Asset $ 13 $ 18
Total derivatives Liabilities 5 54
Designated as Hedging Instruments | Cash Flow Hedging | Foreign Exchange Contracts | Other Current Assets [Member]    
Derivative Fair Value by Balance Sheet Location [Abstract]    
Total derivatives Asset 8 16
Designated as Hedging Instruments | Cash Flow Hedging | Foreign Exchange Contracts | Other Current Liabilities [Member]    
Derivative Fair Value by Balance Sheet Location [Abstract]    
Total derivatives Liabilities 3 7
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Other Current Assets [Member]    
Derivative Fair Value by Balance Sheet Location [Abstract]    
Total derivatives Asset 5 2
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Other Current Liabilities [Member]    
Derivative Fair Value by Balance Sheet Location [Abstract]    
Total derivatives Liabilities $ 2 $ 47
v3.24.1.1.u2
DERIVATIVES, Effect of derivative instruments on Consolidated Statement of Operations (Details)
€ in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Apr. 30, 2024
EUR (€)
Oct. 31, 2020
USD ($)
Derivative [Line Items]            
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months     $ 9      
Other Nonoperating Income (Expense)            
Derivative [Line Items]            
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net $ (3) $ 4 (20) $ 0    
Interest Rate Swap [Member]            
Derivative [Line Items]            
Derivative Liability, Notional Amount | €         € 5  
Treasury Lock            
Derivative [Line Items]            
Derivative Liability, Notional Amount           $ 600
Designated as Hedging Instruments | Cash Flow Hedging | Interest Rate Swap [Member] | Accumulated Other Comprehensive Income (Loss)            
Derivative [Line Items]            
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI 0 (2) 0 (26)    
Designated as Hedging Instruments | Cash Flow Hedging | Foreign Exchange Contracts | Accumulated Other Comprehensive Income (Loss)            
Derivative [Line Items]            
Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI 4 3 1 0    
Designated as Hedging Instruments | Cash Flow Hedging | Foreign Exchange Contracts | Cost of products and services            
Derivative [Line Items]            
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings: 3 0 6 4    
Gain excluded from effectiveness testing recognized in earnings based on changes in fair value: 2 1 3 2    
Designated as Hedging Instruments | Cash Flow Hedging | Foreign Exchange Contracts | Selling, general and administrative            
Derivative [Line Items]            
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings: $ 0 $ 1 $ (1) $ (1)    
v3.24.1.1.u2
DEBT Summary of Long Term Debt incl. unamortized cost (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Debt Instrument    
Debt, Long-Term and Short-Term, Combined Amount $ 1,795 $ 1,794
Current portion of long-term debt 600 599
Long-term Debt, Excluding Current Maturities 1,195 1,195
Senior Notes 2024    
Debt Instrument    
Senior Notes 600 599
Unamortized costs 0 1
Debt Instrument, Face Amount $ 600  
Debt Instrument, Interest Rate, Stated Percentage 4.55%  
Senior Notes 2027    
Debt Instrument    
Senior Notes $ 698 698
Unamortized costs 2 2
Debt Instrument, Face Amount $ 700  
Debt Instrument, Interest Rate, Stated Percentage 4.60%  
Senior Notes 2029    
Debt Instrument    
Senior Notes $ 497 497
Unamortized costs 3 $ 3
Debt Instrument, Face Amount $ 500  
Debt Instrument, Interest Rate, Stated Percentage 3.00%  
v3.24.1.1.u2
DEBT (Short-Term Debt - Revolving Credit Facility) (Details)
€ in Millions, $ in Millions
 6 Months Ended
Apr. 30, 2024
USD ($)
Nov. 03, 2023
EUR (€)
Oct. 31, 2023
USD ($)
Line of Credit facility      
Facility, Maximum Borrowing Capacity $ 750    
ESI Group SA      
Line of Credit facility      
Facility, Maximum Borrowing Capacity | €   € 10  
Debt Instrument, Description of Variable Rate Basis EURIBOR + 2 to 2.5 percent    
Revolving Credit Facility      
Line of Credit facility      
Facility, Initiation Date Jul. 30, 2021    
Facility, Expiration Date Jul. 30, 2026    
Additional drawings on credit facility $ 250    
Facility, Outstanding $ 0   $ 0
Facility, Covenant Compliance We were in compliance with the covenants of the Revolving Credit Facility during the six months ended April 30, 2024.    
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility      
Line of Credit facility      
Debt Instrument, Description of Variable Rate Basis On February 17, 2023, we entered into the first amendment to the Revolving Credit Facility to change the annual interest rate from LIBOR + 1 percent to SOFR + 1.1 percent.    
v3.24.1.1.u2
DEBT ESI assumed (Details) - USD ($)
$ in Millions
 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Nov. 03, 2023
Debt Instrument      
Repayment of debt $ 24 $ 0  
ESI Group SA      
Debt Instrument      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt     $ 24
Loans Payable, Current     10
Debt Instrument, Description of Variable Rate Basis EURIBOR + 2 to 2.5 percent    
ESI Group SA | Syndicated loan      
Debt Instrument      
Loans Payable     11
ESI Group SA | State-guaranteed loans      
Debt Instrument      
Loans Payable     13
ESI Group SA | Other bank borrowings      
Debt Instrument      
Loans Payable     $ 13
v3.24.1.1.u2
DEBT letter of credits (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Short-term Debt [Line Items]    
Letters of Credit Outstanding, Amount $ 41 $ 41
v3.24.1.1.u2
DEBT FAIR VALUE (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Debt Disclosure [Abstract]    
Long-Term Debt, Fair Value $ 1,721 $ 1,679
v3.24.1.1.u2
DEBT Bridge Loan Facility (Details) - 6 months ended Apr. 30, 2024
£ in Millions, $ in Millions
USD ($)
GBP (£)
Line of Credit facility    
Facility, Maximum Borrowing Capacity $ 750  
Payments of Financing Costs 5  
Payments of Financing Costs $ 5  
Bridge Loan    
Line of Credit facility    
Facility, Description On March 28, 2024, we entered into a commitment letter pursuant to which certain lenders agreed to provide a senior unsecured 364-day bridge loan facility of up to 1,350 million British pounds (“the Bridge Facility”) for the purpose of providing the financing to support a planned acquisition. We incurred costs in connection with the Bridge Facility of $5 million that are included in "other current assets" in the condensed consolidated balance sheet and are being amortized to interest expense over the term of the Bridge Facility.  
Facility, Maximum Borrowing Capacity | £   £ 1,350
Facility, Initiation Date Mar. 28, 2024  
Line of Credit Facility, Expiration Period 364 days  
v3.24.1.1.u2
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Net Pension and post-retirement benefit cost(benefit) components) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Defined benefit plan | United States        
Defined Benefit Plan Disclosure        
Service cost—benefits earned during the period $ 3 $ 4 $ 7 $ 8
Interest cost on benefit obligation 10 9 20 18
Expected return on plan assets (12) (12) (24) (24)
Amortization of net actuarial loss 3 2 5 4
Net periodic benefit cost (benefit) 4 3 8 6
Defined benefit plan | Foreign Plan        
Defined Benefit Plan Disclosure        
Service cost—benefits earned during the period 2 3 4 5
Interest cost on benefit obligation 9 8 18 15
Expected return on plan assets (13) (14) (26) (26)
Amortization of net actuarial loss 2 2 4 4
Net periodic benefit cost (benefit) 0 (1) 0 (2)
Post-retirement Benefits Plan | United States        
Defined Benefit Plan Disclosure        
Service cost—benefits earned during the period 0 0 0 0
Interest cost on benefit obligation 2 2 4 4
Expected return on plan assets (3) (3) (6) (6)
Amortization of net actuarial loss 0 1 0 1
Net periodic benefit cost (benefit) $ (1) $ 0 $ (2) $ (1)
v3.24.1.1.u2
RETIREMENT PLANS AND POST RETIREMENT PENSION PLANS (Contributions) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
United States | Defined benefit plan        
Defined Benefit Plan Disclosure        
Contributions by employer $ 0 $ 0 $ 0 $ 0
Estimated future employer contributions in remainder of current fiscal year 0   0  
United States | Post-retirement Benefits Plan        
Defined Benefit Plan Disclosure        
Contributions by employer 0 0 0 $ 0
Estimated future employer contributions in remainder of current fiscal year 0   0  
Foreign Plan | Defined benefit plan        
Defined Benefit Plan Disclosure        
Contributions by employer 2 $ 2 5  
Estimated future employer contributions in remainder of current fiscal year $ 5   $ 5  
v3.24.1.1.u2
SUPPLEMENTAL CASH FLOW INFORMATION (Cash, cash equivalents an restricted cash reconciliation) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Apr. 30, 2023
Oct. 31, 2022
Cash and cash equivalents $ 1,657 $ 2,472    
Restricted cash included in other assets 17 16    
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 1,674 $ 2,488 $ 2,514 $ 2,057
v3.24.1.1.u2
INVENTORY (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Inventory, Net [Abstract]    
Finished goods $ 382 $ 376
Purchased parts and fabricated assemblies 638 609
Inventory, Net $ 1,020 $ 985
v3.24.1.1.u2
Lease (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Leases [Abstract]        
Operating lease cost $ 16 $ 13 $ 31 $ 26
Variable lease cost $ 4 $ 6 11 10
Cash payment for operating leases     28 27
Right-of-use assets obtained in exchange for operating lease obligations     $ 28 $ 23
v3.24.1.1.u2
WARRANTIES (Details) - USD ($)
$ in Millions
 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Guarantees [Abstract]    
Standard Product Warranty Description Our warranties on products sold through direct sales channels are primarily for one year. Warranties for products sold through distribution channels are primarily for three years.  
Standard Product Warranty, Policy We accrue for standard warranty costs based on historical trends in warranty charges. The accrual is reviewed regularly and periodically adjusted to reflect changes in warranty cost estimates. Estimated warranty charges are recorded within cost of products at the time related product revenue is recognized.  
Movement in Standard Product Warranty Accrual [Roll Forward]    
Beginning balance $ 36 $ 32
Accruals for warranties, including change in estimates 10 16
Settlements made during the period (13) (14)
Ending balance 33 34
Standard Product Warranty Disclosure [Abstract]    
Accruals for warranties due within one year 20 20
Accruals for warranties due after one year 13 14
Ending balance $ 33 $ 34
v3.24.1.1.u2
SUPPLEMENTAL FINANCIAL INFORMATION - Other assets (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]    
Prepaid assets $ 313 $ 284
Other current assets 169 168
Total other current assets 482 452
Advances on Inventory Purchases $ 212 $ 210
v3.24.1.1.u2
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
$ in Millions
 6 Months Ended
Apr. 30, 2024
Aug. 03, 2021
Commitments and Contingencies Disclosure [Abstract]    
Loss Contingency, Estimate of Possible Loss   $ 6.6
Loss Contingency, Range of Possible Loss, Portion Not Accrued $ 2.5  
Loss Contingency Accrual, Payments $ 4.1  
v3.24.1.1.u2
STOCKHOLDERS' EQUITY (Stock Repurchase Program) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Mar. 06, 2023
Condensed Balance Sheet Statements, Captions [Line Items]            
Stock Repurchase Program, Authorized Amount           $ 1,500
Stockholders' Equity, Average Amount Outstanding $ 785          
Treasury Stock, Shares, Acquired       926,861 710,736  
Treasury Stock, Value, Acquired, Cost Method   $ 46 $ 0 $ 139 $ 125  
v3.24.1.1.u2
STOCKHOLDER'S EQUITY - Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance $ (442) $ (391) $ (466) $ (454)
Other comprehensive income (loss) before reclassifications (28) (10) (4) 44
Amounts reclassified out of accumulated other comprehensive gain (loss) 2 3 2 7
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent (1) (1) (1) 4
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total (27) (8) (3) 55
Ending balance (469) (399) (469) (399)
Foreign currency translation        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (140) (104) (167) (185)
Other comprehensive income (loss) before reclassifications (32) (11) (5) 70
Amounts reclassified out of accumulated other comprehensive gain (loss) 0 0 0 0
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent 0 0 0 0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total (32) (11) (5) 70
Ending balance (172) (115) (172) (115)
Actuarial losses        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (381) (368) (382) (373)
Other comprehensive income (loss) before reclassifications 0 0 0 0
Amounts reclassified out of accumulated other comprehensive gain (loss) 5 4 7 10
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent (1) (1) (2) (2)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total 4 3 5 8
Ending balance (377) (365) (377) (365)
Prior service credits        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (6) (6) (6) (6)
Other comprehensive income (loss) before reclassifications 0 0 0 0
Amounts reclassified out of accumulated other comprehensive gain (loss) 0 0 0 0
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent 0 0 0 0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total 0 0 0 0
Ending balance (6) (6) (6) (6)
Gains (losses) on derivatives        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance 85 87 89 110
Other comprehensive income (loss) before reclassifications 4 1 1 (26)
Amounts reclassified out of accumulated other comprehensive gain (loss) (3) (1) (5) (3)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent 0 0 1 6
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total 1 0 (3) (23)
Ending balance $ 86 $ 87 $ 86 $ 87
v3.24.1.1.u2
STOCKHOLDERS' EQUITY - Reclassifications out of accumulated comprehensive income (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax $ (1) $ 0 $ (1) $ 0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax 2 1 4 3
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax (5) (4) (7) (10)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax 1 1 2 2
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax (4) (3) (5) (8)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (2) (2) (1) (5)
Cost of products and services        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 3 0 6 4
Selling, general and administrative        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax $ 0 $ 1 $ (1) $ (1)
v3.24.1.1.u2
SEGMENT INFORMATION Profitability (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Apr. 30, 2024
USD ($)
segment
Apr. 30, 2023
USD ($)
Segment Reporting Information [Line Items]        
Number of Reportable Segments | segment     2  
Revenues, Total $ 1,216 $ 1,390 $ 2,475 $ 2,771
Operating Income (Loss) 177 354 398 676
Communications Solutions Group        
Segment Reporting Information [Line Items]        
Revenues, Total 840 937 1,679 1,876
Electronic Industrial Solutions Group        
Segment Reporting Information [Line Items]        
Revenues, Total 376 453 796 895
Total segments        
Segment Reporting Information [Line Items]        
Operating Income (Loss) 294 423 649 832
Operating Segments [Member]        
Segment Reporting Information [Line Items]        
Operating Income (Loss) 294 423 649 832
Operating Segments [Member] | Communications Solutions Group        
Segment Reporting Information [Line Items]        
Operating Income (Loss) 223 266 449 535
Operating Segments [Member] | Electronic Industrial Solutions Group        
Segment Reporting Information [Line Items]        
Operating Income (Loss) $ 71 $ 157 $ 200 $ 297
v3.24.1.1.u2
SEGMENT INFORMATION Reconciliation of Reportable Results (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2024
Apr. 30, 2023
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]        
Total reportable operating segments' income from operations $ 177 $ 354 $ 398 $ 676
Share-based Payment Arrangement, Expensed and Capitalized, Amount (36) (29) (86) (84)
Amortization of acquisition-related balances (37) (25) (75) (48)
Acquisition and integration costs (19) (3) (36) (5)
Restructuring and others (25) (12) (54) (19)
Income from operations 177 354 398 676
Interest income 18 22 41 41
Interest Expense 20 20 40 39
Other Nonoperating Gains (Losses) 0 5 5 14
Income before taxes 175 361 404 692
Total segments        
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]        
Total reportable operating segments' income from operations 294 423 649 832
Income from operations $ 294 $ 423 $ 649 $ 832
v3.24.1.1.u2
SEGMENT INFORMATION ASSETS (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Segment Reporting Information [Line Items]    
Total reportable segments' assets $ 7,484 $ 6,330
Total segments    
Segment Reporting Information [Line Items]    
Total reportable segments' assets 7,484 6,330
Operating Segments [Member] | Communications Solutions Group    
Segment Reporting Information [Line Items]    
Total reportable segments' assets 4,592 4,410
Operating Segments [Member] | Electronic Industrial Solutions Group    
Segment Reporting Information [Line Items]    
Total reportable segments' assets $ 2,892 $ 1,920
v3.24.1.1.u2
SEGMENT INFORMATION ASSETS RECON (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Oct. 31, 2023
Segment Reporting [Abstract]    
Total reportable segments' assets $ 7,484 $ 6,330
Cash and cash equivalents 1,657 2,472
Long-term Investments 102 81
Long-term deferred tax assets 668 671
Finite-Lived Intangible Assets, Accumulated Amortization (1,414) (1,339)
Pension and other assets 491 468
Assets $ 8,988 $ 8,683