Price Graph
Price
Yield
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(Mark One)
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x
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended October 31, 2012
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or
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from to
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Delaware
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77-0518772
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State or other jurisdiction of
Incorporation or organization
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I.R.S. Employer
Identification No.
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Title of each class
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Name of each exchange on which registered
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Common Stock
par value $0.01 per share
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New York Stock Exchange, Inc.
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Large accelerated filer
x
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Accelerated filer
¨
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Non-accelerated filer
¨
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Smaller reporting company
¨
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(Do not check if a smaller
reporting company)
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Document Description
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10-K Part
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Portions of the Proxy Statement for the Annual Meeting of Stockholders (the "Proxy Statement") to be held on March 20, 2013, and to be filed pursuant to Regulation 14A within 120 days after registrant's fiscal year ended October 31, 2012 are incorporated by reference into Part III of this Report
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III
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Page
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•
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reduced demand for our products, delays in the shipment of orders, or increases in order cancellations;
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•
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increased risk of excess and obsolete inventories;
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•
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increased price pressure for our products and services; and
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•
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greater risk of impairment to the value, and a detriment to the liquidity, of our investment portfolio.
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properly identify customer needs;
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innovate and develop new technologies, services and applications;
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successfully commercialize new technologies in a timely manner;
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•
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manufacture and deliver our products in sufficient volumes and on time;
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•
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differentiate our offerings from our competitors' offerings;
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price our products competitively;
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•
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anticipate our competitors' development of new products, services or technological innovations; and
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•
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control product quality in our manufacturing process.
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•
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interruption to transportation flows for delivery of parts to us and finished goods to our customers;
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•
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changes in foreign currency exchange rates;
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•
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changes in a specific country's or region's political, economic or other conditions;
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•
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trade protection measures and import or export licensing requirements;
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•
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negative consequences from changes in tax laws;
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•
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difficulty in staffing and managing widespread operations;
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•
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differing labor regulations;
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•
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differing protection of intellectual property;
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•
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unexpected changes in regulatory requirements; and
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•
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geopolitical turmoil, including terrorism and war.
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•
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the retention of key employees;
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•
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the management of facilities and employees in different geographic areas;
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•
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the retention of key customers;
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•
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the compatibility of our sales programs and facilities with those of the acquired company; and
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the compatibility of our existing infrastructure with that of an acquired company.
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effectively transfer liabilities, contracts, facilities and employees to the purchaser;
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identify and separate the intellectual property to be divested from the intellectual property that we wish to keep; and
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reduce fixed costs previously associated with the divested assets or business.
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difficulties in the assimilation of different corporate cultures, practices and sales and distribution methodologies, as well as in the assimilation and retention of geographically dispersed, decentralized operations and personnel;
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•
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the potential loss of key personnel who choose not to remain with Dako or Agilent;
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•
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the potential loss of key customers or suppliers who choose not to do business with the combined business; and
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•
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the use of cash resources and increased capital expenditures on additional investment or research and development activities in excess of our current expectations, which could offset any synergies resulting from the Dako acquisition and limit other potential uses of our cash, including stock repurchases and retirement of outstanding debt.
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•
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the possibility that the acquisition may not further our business strategy as we expected;
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•
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the possibility that we may not be able to expand the reach and customer base for Dako current and future products as expected;
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the possibility that we may not be able to expand the reach and customer base for Agilent products as expected;
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the possibility that the carrying amounts of goodwill and other purchased intangible assets may not be recoverable;
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the fact that the acquisition will substantially expand our diagnostics business, and we may not experience anticipated growth in that market.
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•
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increasing our vulnerability to downturns in our business, to competitive pressures and to adverse economic and industry conditions;
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requiring the dedication of an increased portion of our expected cash from operations to service our indebtedness, thereby reducing the amount of expected cash flow available for other purposes, including capital expenditures, acquisitions and stock repurchases; and
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limiting our flexibility in planning for, or reacting to, changes in our business and our industry.
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Fiscal 2011
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High
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Low
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Dividends
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|||||
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First Quarter (ended January 31, 2011)
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$
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44.45
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$
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34.38
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N/A
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Second Quarter (ended April 30, 2011)
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$
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50.68
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$
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39.94
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N/A
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Third Quarter (ended July 31, 2011)
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$
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55.33
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$
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41.29
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N/A
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Fourth Quarter (ended October 31, 2011)
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$
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42.78
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$
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28.67
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N/A
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Fiscal 2012
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High
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Low
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Dividends
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|||||
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First Quarter (ended January 31, 2012)
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$
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44.85
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$
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32.51
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N/A
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Second Quarter (ended April 30, 2012)
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$
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46.28
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$
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39.15
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$0.10
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Third Quarter (ended July 31, 2012)
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$
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43.27
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$
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35.32
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$0.10
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Fourth Quarter (ended October 31, 2012)
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$
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40.97
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$
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35.38
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$0.10
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Period
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Total Number of
Shares of Common
Stock Purchased(1)
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Weighted Average
Price Paid per Share of
Common Stock(2)
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Total
Number of
Shares of Common
Stock Purchased as
Part of Publicly
Announced Plans or
Programs(1)
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Maximum
Approximate Dollar
Value of Shares of
Common Stock that
May Yet Be
Purchased Under the
Plans or Programs
(in millions)
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(a)
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(b)
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(c)
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(d)
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Aug. 1, 2012 through
Aug. 31, 2012 |
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—
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—
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—
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NA
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Sep. 1, 2012 through
Sep. 30, 2012 |
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500,000
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38.49
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500,000
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NA
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Oct. 1, 2012 through
Oct. 31, 2012 |
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2,000,000
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$
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37.53
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2,000,000
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NA
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Total
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2,500,000
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$
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37.72
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2,500,000
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(1)
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On November 19, 2009 our Board of Directors approved a share repurchase program to reduce or eliminate dilution of basic outstanding shares in connection with issuances of stock under the company's equity incentive plans. The share repurchase program does not require the company to acquire a specific number of shares and may be suspended or discontinued at any time. There is no fixed termination date for the share repurchase program.
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(2)
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The weighted average price paid per share of common stock does not include the cost of commissions.
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Years Ended October 31,
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2012
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2011
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2010
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2009
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2008
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||||||||||
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(in millions, except per share data)
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Consolidated Statement of Operations Data:
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(2)
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(1)
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Net revenue
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$
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6,858
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$
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6,615
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$
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5,444
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$
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4,481
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$
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5,774
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Income before taxes
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$
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1,043
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$
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1,032
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$
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692
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$
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7
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$
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815
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Net income (loss)
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$
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1,153
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$
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1,012
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$
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684
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$
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(31
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)
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$
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693
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Net income (loss) per share — Basic:
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$
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3.31
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$
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2.92
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$
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1.97
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$
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(0.09
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)
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$
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1.91
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Net income (loss) per share — Diluted:
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$
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3.27
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$
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2.85
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$
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1.94
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$
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(0.09
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)
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$
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1.87
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Weighted average shares used in computing basic net income (loss) per share
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348
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347
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347
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346
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363
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|||||
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Weighted average shares used in computing diluted net income (loss) per share
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353
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355
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353
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346
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371
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|||||
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Cash dividends declared per common share
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$
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0.30
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—
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—
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—
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—
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||||
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October 31,
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||||||||||||||||||
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2012
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2011
|
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2010
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2009
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2008
|
||||||||||
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(in millions)
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Consolidated Balance Sheet Data:
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(2)
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(1)
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||||||||||
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Cash and cash equivalents and short-term investments
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$
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2,351
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$
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3,527
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$
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2,649
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$
|
2,493
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$
|
1,429
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Working capital
|
$
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2,736
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$
|
3,732
|
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$
|
3,086
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$
|
2,838
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|
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$
|
1,852
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|
|
Long-term restricted cash and cash equivalents
|
$
|
—
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|
|
$
|
—
|
|
|
$
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—
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|
$
|
1,566
|
|
|
$
|
1,582
|
|
|
Total assets
|
$
|
10,536
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|
|
$
|
9,057
|
|
|
$
|
9,696
|
|
|
$
|
7,612
|
|
|
$
|
7,007
|
|
|
Long-term debt
|
$
|
2,112
|
|
|
$
|
1,932
|
|
|
$
|
2,190
|
|
|
$
|
2,904
|
|
|
$
|
2,125
|
|
|
Stockholders' equity
|
$
|
5,182
|
|
|
$
|
4,308
|
|
|
$
|
3,228
|
|
|
$
|
2,506
|
|
|
$
|
2,559
|
|
|
|
Years Ended October 31,
|
|
2012 over 2011
% Change |
|
2011 over 2010
% Change |
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
|
|||||||||
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(in millions)
|
|
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||||||||||
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Orders
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$
|
6,877
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|
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$
|
6,769
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|
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$
|
5,744
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2%
|
|
18%
|
|
Net revenue:
|
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|
|
|
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||||||
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Products
|
$
|
5,659
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|
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$
|
5,482
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|
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$
|
4,464
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3%
|
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23%
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Services and other
|
$
|
1,199
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|
|
$
|
1,133
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|
|
$
|
980
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6%
|
|
16%
|
|
Total net revenue
|
$
|
6,858
|
|
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$
|
6,615
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$
|
5,444
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4%
|
|
22%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Ppts Change |
|
2011 over 2010
Ppts Change |
|||||||
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2012
|
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2011
|
|
2010
|
|
||||||
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% of total net revenue:
|
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|
|
|
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|||
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Products
|
83
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%
|
|
83
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%
|
|
82
|
%
|
|
—
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1 ppt
|
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Services and other
|
17
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%
|
|
17
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%
|
|
18
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%
|
|
—
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(1) ppt
|
|
Total
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
|||||||
|
|
2012
|
|
2011
|
|
2010
|
|
||||||
|
Gross margin on products
|
53.9
|
%
|
|
54.9
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%
|
|
55.7
|
%
|
|
(1) ppt
|
|
(1) ppt
|
|
Gross margin on services and other
|
46.1
|
%
|
|
45.9
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%
|
|
45.1
|
%
|
|
—
|
|
1 ppt
|
|
Total gross margin
|
52.6
|
%
|
|
53.3
|
%
|
|
53.8
|
%
|
|
(1) ppt
|
|
(1) ppt
|
|
Operating margin
|
16.3
|
%
|
|
16.2
|
%
|
|
10.3
|
%
|
|
—
|
|
6 ppts
|
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(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
|
Research and development
|
$
|
668
|
|
|
$
|
649
|
|
|
$
|
612
|
|
|
3%
|
|
6%
|
|
Selling, general and administrative
|
$
|
1,817
|
|
|
$
|
1,809
|
|
|
$
|
1,752
|
|
|
—
|
|
3%
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Provision (benefit) for income taxes
|
$
|
(110
|
)
|
|
$
|
20
|
|
|
$
|
8
|
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
|
|||||||||
|
|
(in millions)
|
|
|
|
|
||||||||||
|
Orders
|
$
|
1,594
|
|
|
$
|
1,597
|
|
|
$
|
1,279
|
|
|
—
|
|
25%
|
|
Net revenue from products
|
$
|
1,180
|
|
|
$
|
1,147
|
|
|
$
|
926
|
|
|
3%
|
|
24%
|
|
Net revenue from services and other
|
402
|
|
|
368
|
|
|
300
|
|
|
9%
|
|
23%
|
|||
|
Total net revenue
|
$
|
1,582
|
|
|
$
|
1,515
|
|
|
$
|
1,226
|
|
|
4%
|
|
24%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
|||||||
|
|
2012
|
|
2011
|
|
2010
|
|
||||||
|
Total gross margin
|
50.8
|
%
|
|
50.4
|
%
|
|
52.4
|
%
|
|
—
|
|
(2) ppts
|
|
Operating margin
|
14.5
|
%
|
|
13.3
|
%
|
|
16.6
|
%
|
|
1 ppt
|
|
(3) ppts
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
|
Research and development
|
$
|
141
|
|
|
$
|
134
|
|
|
$
|
104
|
|
|
5%
|
|
29%
|
|
Selling, general and administrative
|
$
|
433
|
|
|
$
|
427
|
|
|
$
|
335
|
|
|
1%
|
|
28%
|
|
Income from operations
|
$
|
230
|
|
|
$
|
202
|
|
|
$
|
203
|
|
|
14%
|
|
(1)%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
|
|||||||||
|
|
(in millions)
|
|
|
|
|
||||||||||
|
Orders
|
$
|
1,604
|
|
|
$
|
1,589
|
|
|
$
|
1,224
|
|
|
1%
|
|
30%
|
|
Net revenue from products
|
$
|
1,219
|
|
|
$
|
1,194
|
|
|
$
|
954
|
|
|
3%
|
|
25%
|
|
Net revenue from services and other
|
340
|
|
|
324
|
|
|
246
|
|
|
5%
|
|
32%
|
|||
|
Total net revenue
|
$
|
1,559
|
|
|
$
|
1,518
|
|
|
$
|
1,200
|
|
|
3%
|
|
27%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
|||||||
|
|
2012
|
|
2011
|
|
2010
|
|
||||||
|
Total gross margin
|
51.4
|
%
|
|
51.1
|
%
|
|
53.5
|
%
|
|
—
|
|
(2) ppts
|
|
Operating margin
|
21.7
|
%
|
|
20.6
|
%
|
|
23.3
|
%
|
|
1 ppt
|
|
(3) ppts
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
|
Research and development
|
$
|
93
|
|
|
$
|
92
|
|
|
$
|
68
|
|
|
—
|
|
35%
|
|
Selling, general and administrative
|
$
|
371
|
|
|
$
|
371
|
|
|
$
|
294
|
|
|
—
|
|
26%
|
|
Income from operations
|
$
|
338
|
|
|
$
|
313
|
|
|
$
|
279
|
|
|
8%
|
|
12%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
|
|||||||||
|
|
(in millions)
|
|
|
|
|
||||||||||
|
Orders
|
$
|
399
|
|
|
$
|
278
|
|
|
$
|
247
|
|
|
44%
|
|
13%
|
|
Net revenue from products
|
$
|
398
|
|
|
$
|
277
|
|
|
$
|
253
|
|
|
45%
|
|
9%
|
|
Net revenue from services and other
|
$
|
4
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
—
|
|
—
|
|
Total net revenue
|
$
|
402
|
|
|
$
|
277
|
|
|
$
|
253
|
|
|
45%
|
|
9%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
|||||||
|
|
2012
|
|
2011
|
|
2010
|
|
||||||
|
Total gross margin
|
62.9
|
%
|
|
61.0
|
%
|
|
58.7
|
%
|
|
2 ppts
|
|
2 ppts
|
|
Operating margin
|
16.1
|
%
|
|
12.5
|
%
|
|
7.1
|
%
|
|
4 ppts
|
|
5 ppts
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
|
Research and development
|
$
|
54
|
|
|
$
|
40
|
|
|
$
|
38
|
|
|
37%
|
|
4%
|
|
Selling, general and administrative
|
$
|
134
|
|
|
$
|
95
|
|
|
$
|
93
|
|
|
41%
|
|
3%
|
|
Income from operations
|
$
|
65
|
|
|
$
|
35
|
|
|
$
|
18
|
|
|
88%
|
|
92%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
|
|||||||||
|
|
(in millions)
|
|
|
|
|
||||||||||
|
Orders
|
$
|
3,280
|
|
|
$
|
3,305
|
|
|
$
|
2,994
|
|
|
(1)%
|
|
10%
|
|
Net revenue from products
|
$
|
2,862
|
|
|
$
|
2,875
|
|
|
$
|
2,345
|
|
|
—
|
|
23%
|
|
Net revenue from services and other
|
453
|
|
|
441
|
|
|
439
|
|
|
3%
|
|
—
|
|||
|
Total net revenue
|
$
|
3,315
|
|
|
$
|
3,316
|
|
|
$
|
2,784
|
|
|
—
|
|
19%
|
|
|
Years Ended October 31,
|
|
2012 over 2011
Change |
|
2011 over 2010
Change |
|||||||
|
|
2012
|
|
2011
|
|
2010
|
|
||||||
|
Total gross margin
|
56.9
|
%
|
|
58.4
|
%
|
|
58.4
|
%
|
|
(2) ppts
|
|
—
|
|
Operating margin
|
22.7
|
%
|
|
22.9
|
%
|
|
15.7
|
%
|
|
—
|
|
7 ppts
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
|
Research and development
|
$
|
375
|
|
|
$
|
379
|
|
|
$
|
391
|
|
|
(1)%
|
|
(3)%
|
|
Selling, general and administrative
|
$
|
761
|
|
|
$
|
798
|
|
|
$
|
798
|
|
|
(5)%
|
|
—
|
|
Income from operations
|
$
|
751
|
|
|
$
|
760
|
|
|
$
|
438
|
|
|
(1)%
|
|
74%
|
|
|
Less than one
year
|
|
One to three years
|
|
Three to five years
|
|
More than five years
|
||||||||
|
Operating leases
|
$
|
51
|
|
|
$
|
79
|
|
|
$
|
36
|
|
|
$
|
16
|
|
|
Commitments to contract manufacturers and suppliers
|
771
|
|
|
47
|
|
|
9
|
|
|
—
|
|
||||
|
Other purchase commitments
|
84
|
|
|
1
|
|
|
—
|
|
|
—
|
|
||||
|
Retirement plans
|
86
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
Total
|
$
|
992
|
|
|
$
|
127
|
|
|
$
|
45
|
|
|
$
|
16
|
|
|
|
Less than one
year
|
|
One to three years
|
|
Three to five years
|
|
More than five years
|
||||||||
|
Senior notes
|
$
|
250
|
|
|
$
|
500
|
|
|
$
|
600
|
|
|
$
|
900
|
|
|
Other debt
|
—
|
|
|
—
|
|
|
—
|
|
|
44
|
|
||||
|
Total
|
$
|
250
|
|
|
$
|
500
|
|
|
$
|
600
|
|
|
$
|
944
|
|
|
Index to Consolidated Financial Statements
|
|
Page
|
|
|
|
|
|
Consolidated Financial Statements:
|
|
|
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
/s/ PRICEWATERHOUSECOOPERS LLP
|
|
|
|
|
|
San Jose, California
December 20, 2012
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions, except per
share data)
|
||||||||||
|
Net revenue:
|
|
|
|
|
|
||||||
|
Products
|
$
|
5,659
|
|
|
$
|
5,482
|
|
|
$
|
4,464
|
|
|
Services and other
|
1,199
|
|
|
1,133
|
|
|
980
|
|
|||
|
Total net revenue
|
6,858
|
|
|
6,615
|
|
|
5,444
|
|
|||
|
Costs and expenses:
|
|
|
|
|
|
||||||
|
Cost of products
|
2,608
|
|
|
2,473
|
|
|
1,976
|
|
|||
|
Cost of services and other
|
646
|
|
|
613
|
|
|
538
|
|
|||
|
Total costs
|
3,254
|
|
|
3,086
|
|
|
2,514
|
|
|||
|
Research and development
|
668
|
|
|
649
|
|
|
612
|
|
|||
|
Selling, general and administrative
|
1,817
|
|
|
1,809
|
|
|
1,752
|
|
|||
|
Total costs and expenses
|
5,739
|
|
|
5,544
|
|
|
4,878
|
|
|||
|
Income from operations
|
1,119
|
|
|
1,071
|
|
|
566
|
|
|||
|
Interest income
|
9
|
|
|
14
|
|
|
20
|
|
|||
|
Interest expense
|
(101
|
)
|
|
(86
|
)
|
|
(96
|
)
|
|||
|
Gain on sale of network solutions business, net
|
—
|
|
|
—
|
|
|
132
|
|
|||
|
Other income (expense), net
|
16
|
|
|
33
|
|
|
70
|
|
|||
|
Income before taxes
|
1,043
|
|
|
1,032
|
|
|
692
|
|
|||
|
Provision (benefit) for income taxes
|
(110
|
)
|
|
20
|
|
|
8
|
|
|||
|
Net income
|
$
|
1,153
|
|
|
$
|
1,012
|
|
|
$
|
684
|
|
|
Net income per share:
|
|
|
|
|
|
||||||
|
Basic
|
$
|
3.31
|
|
|
$
|
2.92
|
|
|
$
|
1.97
|
|
|
Diluted
|
$
|
3.27
|
|
|
$
|
2.85
|
|
|
$
|
1.94
|
|
|
Weighted average shares used in computing net income per share:
|
|
|
|
|
|
||||||
|
Basic
|
348
|
|
|
347
|
|
|
347
|
|
|||
|
Diluted
|
353
|
|
|
355
|
|
|
353
|
|
|||
|
|
|
|
|
|
|
||||||
|
Cash dividends declared per common share
|
$
|
0.30
|
|
|
—
|
|
|
—
|
|
||
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions, except
par value and
share data)
|
||||||
|
ASSETS
|
|
|
|
||||
|
Current assets:
|
|
|
|
||||
|
Cash and cash equivalents
|
$
|
2,351
|
|
|
$
|
3,527
|
|
|
Accounts receivable, net
|
923
|
|
|
860
|
|
||
|
Inventory
|
1,014
|
|
|
898
|
|
||
|
Other current assets
|
341
|
|
|
284
|
|
||
|
Total current assets
|
4,629
|
|
|
5,569
|
|
||
|
Property, plant and equipment, net
|
1,164
|
|
|
1,006
|
|
||
|
Goodwill
|
3,025
|
|
|
1,567
|
|
||
|
Other intangible assets, net
|
1,086
|
|
|
429
|
|
||
|
Long-term investments
|
109
|
|
|
117
|
|
||
|
Other assets
|
523
|
|
|
369
|
|
||
|
Total assets
|
$
|
10,536
|
|
|
$
|
9,057
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
|
Current liabilities:
|
|
|
|
||||
|
Accounts payable
|
$
|
461
|
|
|
$
|
472
|
|
|
Employee compensation and benefits
|
387
|
|
|
424
|
|
||
|
Deferred revenue
|
420
|
|
|
389
|
|
||
|
Short-term debt
|
250
|
|
|
253
|
|
||
|
Other accrued liabilities
|
375
|
|
|
299
|
|
||
|
Total current liabilities
|
1,893
|
|
|
1,837
|
|
||
|
Long-term debt
|
2,112
|
|
|
1,932
|
|
||
|
Retirement and post-retirement benefits
|
554
|
|
|
329
|
|
||
|
Other long-term liabilities
|
792
|
|
|
643
|
|
||
|
Total liabilities
|
5,351
|
|
|
4,741
|
|
||
|
Commitments and contingencies (Note 17)
|
|
|
|
|
|
||
|
Total equity:
|
|
|
|
||||
|
Stockholders' equity:
|
|
|
|
||||
|
Preferred stock; $0.01 par value; 125 million shares authorized; none issued and outstanding
|
—
|
|
|
—
|
|
||
|
Common stock; $0.01 par value; 2 billion shares authorized; 595 million shares at October 31, 2012 and 591 million shares at October 31, 2011 issued
|
6
|
|
|
6
|
|
||
|
Treasury stock at cost; 249 million shares at October 31, 2012 and 244 million shares at October 31, 2011
|
(8,707
|
)
|
|
(8,535
|
)
|
||
|
Additional paid-in-capital
|
8,489
|
|
|
8,265
|
|
||
|
Retained earnings
|
5,505
|
|
|
4,456
|
|
||
|
Accumulated other comprehensive income (loss)
|
(111
|
)
|
|
116
|
|
||
|
Total stockholders' equity
|
5,182
|
|
|
4,308
|
|
||
|
Non-controlling interest
|
3
|
|
|
8
|
|
||
|
Total equity
|
5,185
|
|
|
4,316
|
|
||
|
Total liabilities and equity
|
$
|
10,536
|
|
|
$
|
9,057
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Cash flows from operating activities:
|
|
|
|
|
|
||||||
|
Net income
|
$
|
1,153
|
|
|
$
|
1,012
|
|
|
$
|
684
|
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||||||
|
Depreciation and amortization
|
301
|
|
|
253
|
|
|
202
|
|
|||
|
Share-based compensation
|
74
|
|
|
72
|
|
|
66
|
|
|||
|
Deferred taxes
|
(158
|
)
|
|
38
|
|
|
(109
|
)
|
|||
|
Excess and obsolete inventory and inventory related charges
|
30
|
|
|
30
|
|
|
30
|
|
|||
|
Non-cash restructuring and asset impairment charges
|
1
|
|
|
10
|
|
|
26
|
|
|||
|
Net gain on sale of investments
|
(4
|
)
|
|
(6
|
)
|
|
(2
|
)
|
|||
|
Net (gain) loss on sale of assets and divestitures
|
2
|
|
|
2
|
|
|
(127
|
)
|
|||
|
Other
|
5
|
|
|
8
|
|
|
—
|
|
|||
|
Changes in assets and liabilities:
|
|
|
|
|
|
||||||
|
Accounts receivable, net
|
19
|
|
|
11
|
|
|
(166
|
)
|
|||
|
Inventory
|
(52
|
)
|
|
(208
|
)
|
|
(51
|
)
|
|||
|
Accounts payable
|
(31
|
)
|
|
(35
|
)
|
|
113
|
|
|||
|
Employee compensation and benefits
|
(54
|
)
|
|
24
|
|
|
17
|
|
|||
|
Interest rate swap proceeds
|
—
|
|
|
65
|
|
|
—
|
|
|||
|
Other assets and liabilities
|
(58
|
)
|
|
(16
|
)
|
|
35
|
|
|||
|
Net cash provided by operating activities
|
1,228
|
|
|
1,260
|
|
|
718
|
|
|||
|
Cash flows from investing activities:
|
|
|
|
|
|
||||||
|
Investments in property, plant and equipment
|
(194
|
)
|
|
(188
|
)
|
|
(121
|
)
|
|||
|
Proceeds from the sale of property, plant and equipment
|
—
|
|
|
18
|
|
|
7
|
|
|||
|
Proceeds from lease receivable
|
80
|
|
|
—
|
|
|
—
|
|
|||
|
Proceeds from the sale of investment securities
|
5
|
|
|
16
|
|
|
38
|
|
|||
|
Proceeds from divestitures, net
|
—
|
|
|
1
|
|
|
205
|
|
|||
|
Change in restricted cash, cash equivalents and investments, net
|
—
|
|
|
1,545
|
|
|
10
|
|
|||
|
Purchase of non-controlling interest
|
(6
|
)
|
|
—
|
|
|
—
|
|
|||
|
Acquisitions of businesses and intangible assets, net of cash acquired
|
(2,257
|
)
|
|
(98
|
)
|
|
(1,313
|
)
|
|||
|
Net cash provided by (used in) investing activities
|
(2,372
|
)
|
|
1,294
|
|
|
(1,174
|
)
|
|||
|
Cash flows from financing activities:
|
|
|
|
|
|
||||||
|
Issuance of common stock under employee stock plans
|
100
|
|
|
304
|
|
|
299
|
|
|||
|
Treasury stock repurchases
|
(172
|
)
|
|
(497
|
)
|
|
(411
|
)
|
|||
|
Payment of dividends
|
(104
|
)
|
|
—
|
|
|
—
|
|
|||
|
Issuance of senior notes
|
399
|
|
|
—
|
|
|
747
|
|
|||
|
Debt issuance costs
|
(3
|
)
|
|
—
|
|
|
(5
|
)
|
|||
|
Repayment of senior notes
|
(250
|
)
|
|
—
|
|
|
—
|
|
|||
|
Repayment of debts and credit facility
|
(1
|
)
|
|
(1,500
|
)
|
|
(29
|
)
|
|||
|
Net cash provided by (used in) financing activities
|
(31
|
)
|
|
(1,693
|
)
|
|
601
|
|
|||
|
Effect of exchange rate movements
|
(1
|
)
|
|
17
|
|
|
25
|
|
|||
|
Net increase (decrease) in cash and cash equivalents
|
(1,176
|
)
|
|
878
|
|
|
170
|
|
|||
|
Cash and cash equivalents at beginning of year
|
3,527
|
|
|
2,649
|
|
|
2,479
|
|
|||
|
Cash and cash equivalents at end of year
|
$
|
2,351
|
|
|
$
|
3,527
|
|
|
$
|
2,649
|
|
|
|
Common Stock
|
|
Treasury Stock
|
|
|
|
Accumulated
Other
Comprehensive
Income/(Loss)
|
|
|
|
|
|
|
||||||||||||||||||||||||
|
|
Number
of
Shares
|
|
Par
Value
|
|
Additional
Paid-in
Capital
|
|
Number
of
Shares
|
|
Treasury
Stock at
Cost
|
|
Retained
Earnings
|
|
Total Stockholders' Equity
|
|
Non-
Controlling
Interests
|
|
Total
Equity
|
||||||||||||||||||||
|
|
(in millions, except number of shares in thousands)
|
||||||||||||||||||||||||||||||||||||
|
Balance as of October 31, 2009
|
566,067
|
|
|
$
|
6
|
|
|
$
|
7,552
|
|
|
(219,919
|
)
|
|
$
|
(7,627
|
)
|
|
$
|
2,760
|
|
|
$
|
(185
|
)
|
|
$
|
2,506
|
|
|
$
|
8
|
|
|
$
|
2,514
|
|
|
Components of comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
684
|
|
|
—
|
|
|
684
|
|
|
—
|
|
|
684
|
|
||||||||
|
Change in unrealized gain on investments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
1
|
|
|
—
|
|
|
1
|
|
||||||||
|
Change in unrealized loss on derivative instruments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
4
|
|
|
—
|
|
|
4
|
|
||||||||
|
Losses reclassified into earnings related to derivative instruments, net of tax of $1
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6
|
)
|
|
(6
|
)
|
|
—
|
|
|
(6
|
)
|
||||||||
|
Change in foreign currency translation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
70
|
|
|
70
|
|
|
—
|
|
|
70
|
|
||||||||
|
Change in net defined benefit pension and post retirement plan costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Net gain, net of tax of $9
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
53
|
|
|
53
|
|
|
—
|
|
|
53
|
|
||||||||
|
Net prior service cost
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(25
|
)
|
|
(25
|
)
|
|
—
|
|
|
(25
|
)
|
||||||||
|
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
781
|
|
|
—
|
|
|
781
|
|
||||||||
|
Share-based awards issued
|
12,760
|
|
|
—
|
|
|
288
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
288
|
|
|
—
|
|
|
288
|
|
||||||||
|
Repurchase of common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(12,764
|
)
|
|
(411
|
)
|
|
—
|
|
|
—
|
|
|
(411
|
)
|
|
—
|
|
|
(411
|
)
|
||||||||
|
Share-based compensation
|
—
|
|
|
—
|
|
|
64
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
64
|
|
|
—
|
|
|
64
|
|
||||||||
|
Balance as of October 31, 2010
|
578,827
|
|
|
6
|
|
|
7,904
|
|
|
(232,683
|
)
|
|
(8,038
|
)
|
|
3,444
|
|
|
(88
|
)
|
|
3,228
|
|
|
8
|
|
|
3,236
|
|
||||||||
|
Components of comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,012
|
|
|
—
|
|
|
1,012
|
|
|
—
|
|
|
1,012
|
|
||||||||
|
Change in unrealized gain on investments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
||||||||
|
Losses reclassified into earnings related to derivative instruments, net of tax benefit of $(2)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
3
|
|
|
—
|
|
|
3
|
|
||||||||
|
Change in foreign currency translation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
94
|
|
|
94
|
|
|
—
|
|
|
94
|
|
||||||||
|
Change in net defined benefit pension and post retirement plan costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Net loss, net of tax benefit of $(3)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(38
|
)
|
|
(38
|
)
|
|
—
|
|
|
(38
|
)
|
||||||||
|
Net prior service gain
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
149
|
|
|
149
|
|
|
—
|
|
|
149
|
|
||||||||
|
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,216
|
|
|
—
|
|
|
1,216
|
|
||||||||
|
Share-based awards issued
|
11,841
|
|
|
—
|
|
|
289
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
289
|
|
|
—
|
|
|
289
|
|
||||||||
|
Repurchase of common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(11,603
|
)
|
|
(497
|
)
|
|
—
|
|
|
—
|
|
|
(497
|
)
|
|
—
|
|
|
(497
|
)
|
||||||||
|
Share-based compensation
|
—
|
|
|
—
|
|
|
72
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
72
|
|
|
—
|
|
|
72
|
|
||||||||
|
Balance as of October 31, 2011
|
590,668
|
|
|
$
|
6
|
|
|
$
|
8,265
|
|
|
(244,286
|
)
|
|
$
|
(8,535
|
)
|
|
$
|
4,456
|
|
|
$
|
116
|
|
|
$
|
4,308
|
|
|
$
|
8
|
|
|
$
|
4,316
|
|
|
|
Common Stock
|
|
Treasury Stock
|
|
|
|
Accumulated
Other
Comprehensive
Income/(Loss)
|
|
|
|
|
|
|
||||||||||||||||||||||||
|
|
Number
of
Shares
|
|
Par
Value
|
|
Additional
Paid-in
Capital
|
|
Number
of
Shares
|
|
Treasury
Stock at
Cost
|
|
Retained
Earnings
|
|
Total Stockholders' Equity
|
|
Non-
Controlling
Interests
|
|
Total
Equity
|
||||||||||||||||||||
|
|
(in millions, except number of shares in thousands)
|
||||||||||||||||||||||||||||||||||||
|
Balance as of October 31, 2011
|
590,668
|
|
|
$
|
6
|
|
|
$
|
8,265
|
|
|
(244,286
|
)
|
|
$
|
(8,535
|
)
|
|
$
|
4,456
|
|
|
$
|
116
|
|
|
$
|
4,308
|
|
|
$
|
8
|
|
|
$
|
4,316
|
|
|
Components of comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,153
|
|
|
—
|
|
|
1,153
|
|
|
—
|
|
|
1,153
|
|
||||||||
|
Change in unrealized gain on investments, net of tax benefit of $(8)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
6
|
|
|
—
|
|
|
6
|
|
||||||||
|
Change in unrealized gain on derivative instruments, net of tax of $1
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|
9
|
|
|
—
|
|
|
9
|
|
||||||||
|
Gains reclassified into earnings related to derivative instruments, net of tax of $0
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
||||||||
|
Change in foreign currency translation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(28
|
)
|
|
(28
|
)
|
|
—
|
|
|
(28
|
)
|
||||||||
|
Change in net defined benefit pension and post retirement plan costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Net loss, net of tax benefit of $(61)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(175
|
)
|
|
(175
|
)
|
|
—
|
|
|
(175
|
)
|
||||||||
|
Net prior service loss, net of tax benefit of $(17)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(31
|
)
|
|
(31
|
)
|
|
—
|
|
|
(31
|
)
|
||||||||
|
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
926
|
|
|
—
|
|
|
926
|
|
||||||||
|
Cash dividends declared ($0.30 per common share)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(104
|
)
|
|
—
|
|
|
(104
|
)
|
|
—
|
|
|
(104
|
)
|
||||||||
|
Change in non-controlling interest
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5
|
)
|
|
(5
|
)
|
||||||||
|
Share-based awards issued
|
4,591
|
|
|
—
|
|
|
84
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
84
|
|
|
—
|
|
|
84
|
|
||||||||
|
Cumulative excess tax benefits realized from share-based awards issued
|
—
|
|
|
—
|
|
|
66
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
66
|
|
|
—
|
|
|
66
|
|
||||||||
|
Repurchase of common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,500
|
)
|
|
(172
|
)
|
|
—
|
|
|
—
|
|
|
(172
|
)
|
|
—
|
|
|
(172
|
)
|
||||||||
|
Share-based compensation
|
—
|
|
|
—
|
|
|
74
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
74
|
|
|
—
|
|
|
74
|
|
||||||||
|
Balance as of October 31, 2012
|
595,259
|
|
|
$
|
6
|
|
|
$
|
8,489
|
|
|
(248,786
|
)
|
|
$
|
(8,707
|
)
|
|
$
|
5,505
|
|
|
$
|
(111
|
)
|
|
$
|
5,182
|
|
|
$
|
3
|
|
|
$
|
5,185
|
|
|
Cash and cash equivalents
|
|
|
$
|
11
|
|
|
|
Accounts receivable
|
|
|
96
|
|
|
|
|
Inventories
|
|
|
90
|
|
|
|
|
Other current assets
|
|
|
5
|
|
|
|
|
Property, plant and equipment
|
|
|
146
|
|
|
|
|
Long term investments
|
|
|
11
|
|
|
|
|
Intangible assets
|
|
|
738
|
|
|
|
|
Other assets
|
|
|
13
|
|
|
|
|
Goodwill
|
|
|
1,382
|
|
|
|
|
Total assets acquired
|
|
2,492
|
|
|
||
|
Accounts payable
|
|
|
(24
|
)
|
|
|
|
Employee compensation and benefits
|
|
|
(24
|
)
|
|
|
|
Other accrued liabilities
|
|
|
(47
|
)
|
|
|
|
Long-term debt
|
|
|
(43
|
)
|
|
|
|
Other long-term liabilities
|
|
|
(211
|
)
|
|
|
|
Net assets acquired
|
|
|
$
|
2,143
|
|
|
|
|
Fair Value
|
|
Estimated
Useful Life
|
||||
|
Developed product technology
|
|
$
|
287
|
|
|
|
8 - 9 yrs
|
|
Customer relationships
|
|
140
|
|
|
|
4 yrs
|
|
|
Tradenames and trademarks
|
|
128
|
|
|
|
12 yrs
|
|
|
Total intangible assets subject to amortization
|
|
555
|
|
|
|
|
|
|
In-process research and development
|
|
183
|
|
|
|
|
|
|
Total intangible assets
|
|
$
|
738
|
|
|
|
|
|
|
2012
|
|
2011
|
||||
|
Net revenue
|
$
|
7,100
|
|
|
$
|
6,976
|
|
|
Net income
|
$
|
1,145
|
|
|
$
|
909
|
|
|
Net income per share — basic
|
$
|
3.29
|
|
|
$
|
2.62
|
|
|
Net income per share — diluted
|
$
|
3.24
|
|
|
$
|
2.56
|
|
|
Cash and cash equivalents
|
$
|
226
|
|
|
Accounts receivable
|
138
|
|
|
|
Inventories
|
170
|
|
|
|
Other current assets
|
47
|
|
|
|
Property, plant and equipment
|
126
|
|
|
|
Intangible assets
|
417
|
|
|
|
Other assets
|
13
|
|
|
|
Goodwill
|
787
|
|
|
|
Total assets acquired
|
1,924
|
|
|
|
Accounts payable
|
(65
|
)
|
|
|
Employee compensation and benefits
|
(43
|
)
|
|
|
Deferred revenue
|
(30
|
)
|
|
|
Other accrued liabilities
|
(72
|
)
|
|
|
Long-term debt
|
(15
|
)
|
|
|
Retirement and post-retirement benefits
|
(18
|
)
|
|
|
Other long-term liabilities
|
(157
|
)
|
|
|
Net assets acquired
|
$
|
1,524
|
|
|
|
Fair Value
|
|
Estimated
Useful Life
|
||
|
Developed product technology
|
$
|
221
|
|
|
1-7 yrs
|
|
Customer relationships
|
157
|
|
|
2-10 yrs
|
|
|
Tradenames and trademarks
|
10
|
|
|
1.5 yrs
|
|
|
Order backlog
|
9
|
|
|
0.5-1 yr
|
|
|
Total intangible assets subject to amortization
|
397
|
|
|
|
|
|
In-process research and development
|
20
|
|
|
|
|
|
Total intangible assets
|
$
|
417
|
|
|
|
|
|
|
2010
|
||
|
Net revenue
|
|
$
|
5,871
|
|
|
Net income
|
|
$
|
648
|
|
|
Net income per share — basic
|
|
$
|
1.87
|
|
|
Net income per share — diluted
|
|
$
|
1.84
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Cost of products and services
|
$
|
16
|
|
|
$
|
16
|
|
|
$
|
14
|
|
|
Research and development
|
10
|
|
|
10
|
|
|
10
|
|
|||
|
Selling, general and administrative
|
50
|
|
|
47
|
|
|
42
|
|
|||
|
Total share-based compensation expense
|
$
|
76
|
|
|
$
|
73
|
|
|
$
|
66
|
|
|
|
Years Ended October 31,
|
||||
|
|
2012
|
|
2011
|
|
2010
|
|
Stock Option Plans:
|
|
|
|
|
|
|
Weighted average risk-free interest rate
|
0.88%
|
|
1.49%
|
|
2.19%
|
|
Dividend yield
|
0%
|
|
0%
|
|
0%
|
|
Weighted average volatility
|
38%
|
|
35%
|
|
37%
|
|
Expected life
|
5.8 years
|
|
5.8 years
|
|
4.4 years
|
|
LTPP:
|
|
|
|
|
|
|
Volatility of Agilent shares
|
41%
|
|
40%
|
|
39%
|
|
Volatility of selected peer-company shares
|
17%-75%
|
|
20%-76%
|
|
20%-80%
|
|
Price-wise correlation with selected peers
|
62%
|
|
55%
|
|
53%
|
|
|
Options
Outstanding
|
|
Weighted
Average
Exercise Price
|
|||
|
|
(in thousands)
|
|
|
|||
|
Outstanding at October 31, 2011
|
13,071
|
|
|
$
|
28
|
|
|
Granted
|
1,381
|
|
|
$
|
37
|
|
|
Exercised
|
(2,214
|
)
|
|
$
|
23
|
|
|
Cancelled/Forfeited/Expired
|
(161
|
)
|
|
$
|
29
|
|
|
Outstanding at October 31, 2012
|
12,077
|
|
|
$
|
30
|
|
|
|
Options
Cancelled
|
|
Weighted
Average
Exercise Price
|
|||
|
|
(in thousands)
|
|
|
|||
|
Forfeited
|
88
|
|
|
$
|
32
|
|
|
Expired
|
73
|
|
|
$
|
25
|
|
|
Total Options Cancelled during 2012
|
161
|
|
|
$
|
29
|
|
|
|
Options Outstanding
|
|
Options Exercisable
|
|||||||||||||||||||||||
|
Range of
Exercise Prices
|
Number
Outstanding
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Weighted
Average
Exercise
Price
|
|
Aggregate
Intrinsic
Value
|
|
Number
Exercisable
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Weighted
Average
Exercise
Price
|
|
Aggregate
Intrinsic
Value
|
|||||||||||
|
|
(in thousands)
|
|
(in years)
|
|
|
|
(in thousands)
|
|
(in thousands)
|
|
(in years)
|
|
|
|
(in thousands)
|
|||||||||||
|
$0 - 25
|
2,878
|
|
|
3.3
|
|
$
|
20
|
|
|
$
|
46,693
|
|
|
2,487
|
|
|
2.9
|
|
|
$
|
20
|
|
|
$
|
40,046
|
|
|
$25.01 - 30
|
1,411
|
|
|
6.6
|
|
$
|
29
|
|
|
9,358
|
|
|
669
|
|
|
6.2
|
|
|
$
|
29
|
|
|
4,516
|
|
||
|
$30.01 - 40
|
7,782
|
|
|
4.8
|
|
$
|
34
|
|
|
18,245
|
|
|
5,449
|
|
|
3.2
|
|
|
$
|
33
|
|
|
17,470
|
|
||
|
$40.01 & over
|
6
|
|
|
9.4
|
|
$
|
45
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
||
|
|
12,077
|
|
|
4.7
|
|
$
|
30
|
|
|
$
|
74,296
|
|
|
8,605
|
|
|
3.3
|
|
|
$
|
29
|
|
|
$
|
62,032
|
|
|
|
Aggregate
Intrinsic Value
|
|
Weighted
Average
Exercise
Price
|
|
Value Using
Black-Scholes
Model
|
||||||
|
|
(in thousands)
|
|
|
|
|
||||||
|
Options exercised in fiscal 2010
|
$
|
72,325
|
|
|
$
|
25
|
|
|
|
|
|
|
Black-Scholes value of options granted during fiscal 2010
|
|
|
|
|
|
|
$
|
10
|
|
||
|
Options exercised in fiscal 2011
|
$
|
164,738
|
|
|
$
|
27
|
|
|
|
|
|
|
Black-Scholes value of options granted during fiscal 2011
|
|
|
|
|
|
|
$
|
12
|
|
||
|
Options exercised in fiscal 2012
|
$
|
38,188
|
|
|
$
|
23
|
|
|
|
|
|
|
Black-Scholes value of options granted during fiscal 2012
|
|
|
|
|
|
|
$
|
14
|
|
||
|
|
Shares
|
|
Weighted
Average
Grant Price
|
|||
|
|
(in thousands)
|
|
|
|||
|
Non-vested at October 31, 2011
|
3,604
|
|
|
$
|
31
|
|
|
Granted
|
1,496
|
|
|
$
|
38
|
|
|
Vested
|
(1,568
|
)
|
|
$
|
34
|
|
|
Forfeited
|
(106
|
)
|
|
$
|
35
|
|
|
FY2009 LTPP Incremental Issuance
|
88
|
|
|
$
|
39
|
|
|
Non-vested at October 31, 2012
|
3,514
|
|
|
$
|
35
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
U.S. operations
|
$
|
45
|
|
|
$
|
88
|
|
|
$
|
163
|
|
|
Non-U.S. operations
|
998
|
|
|
944
|
|
|
529
|
|
|||
|
Total income before taxes
|
$
|
1,043
|
|
|
$
|
1,032
|
|
|
$
|
692
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
U.S. federal taxes:
|
|
|
|
|
|
||||||
|
Current
|
$
|
6
|
|
|
$
|
(1
|
)
|
|
$
|
(40
|
)
|
|
Deferred
|
(144
|
)
|
|
—
|
|
|
37
|
|
|||
|
Non-U.S. taxes:
|
|
|
|
|
|
||||||
|
Current
|
41
|
|
|
(6
|
)
|
|
145
|
|
|||
|
Deferred
|
(22
|
)
|
|
28
|
|
|
(141
|
)
|
|||
|
State taxes, net of federal benefit:
|
|
|
|
|
|
||||||
|
Current
|
1
|
|
|
(11
|
)
|
|
12
|
|
|||
|
Deferred
|
8
|
|
|
10
|
|
|
(5
|
)
|
|||
|
Total provision
|
$
|
(110
|
)
|
|
$
|
20
|
|
|
$
|
8
|
|
|
|
October 31,
|
||||||||||||||
|
|
2012
|
|
2011
|
||||||||||||
|
|
Deferred
Tax Assets
|
|
Deferred Tax
Liabilities
|
|
Deferred
Tax Assets
|
|
Deferred Tax
Liabilities
|
||||||||
|
|
(in millions)
|
||||||||||||||
|
Inventory
|
$
|
24
|
|
|
$
|
—
|
|
|
$
|
30
|
|
|
$
|
—
|
|
|
Intangibles
|
—
|
|
|
239
|
|
|
—
|
|
|
82
|
|
||||
|
Property, plant and equipment
|
11
|
|
|
—
|
|
|
—
|
|
|
32
|
|
||||
|
Warranty reserves
|
21
|
|
|
—
|
|
|
16
|
|
|
—
|
|
||||
|
Retiree medical benefits
|
5
|
|
|
—
|
|
|
14
|
|
|
—
|
|
||||
|
Pension benefits
|
136
|
|
|
—
|
|
|
110
|
|
|
—
|
|
||||
|
Employee benefits, other than retirement
|
60
|
|
|
—
|
|
|
84
|
|
|
—
|
|
||||
|
Net operating loss, capital loss, and credit carryforwards
|
293
|
|
|
—
|
|
|
272
|
|
|
—
|
|
||||
|
Unrealized gains/losses on investments
|
26
|
|
|
—
|
|
|
47
|
|
|
—
|
|
||||
|
Unremitted earnings of foreign subsidiaries
|
—
|
|
|
88
|
|
|
—
|
|
|
—
|
|
||||
|
Share-based compensation
|
57
|
|
|
—
|
|
|
48
|
|
|
—
|
|
||||
|
Deferred revenue
|
27
|
|
|
—
|
|
|
18
|
|
|
—
|
|
||||
|
Other
|
51
|
|
|
1
|
|
|
56
|
|
|
36
|
|
||||
|
Subtotal
|
711
|
|
|
328
|
|
|
695
|
|
|
150
|
|
||||
|
Tax valuation allowance
|
(93
|
)
|
|
—
|
|
|
(369
|
)
|
|
—
|
|
||||
|
Total deferred tax assets or deferred tax liabilities
|
$
|
618
|
|
|
$
|
328
|
|
|
$
|
326
|
|
|
$
|
150
|
|
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Current deferred tax assets (included within other current assets)
|
$
|
95
|
|
|
$
|
54
|
|
|
Long-term deferred tax assets (included within other assets)
|
400
|
|
|
168
|
|
||
|
Current deferred tax liabilities (included within other accrued liabilities)
|
(2
|
)
|
|
(4
|
)
|
||
|
Long-term deferred tax liabilities (included within other long-term liabilities)
|
(203
|
)
|
|
(42
|
)
|
||
|
Total
|
$
|
290
|
|
|
$
|
176
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Profit before tax times statutory rate
|
$
|
365
|
|
|
$
|
361
|
|
|
$
|
242
|
|
|
State income taxes, net of federal benefit
|
8
|
|
|
(1
|
)
|
|
4
|
|
|||
|
Non-U.S. income taxed at different rates
|
(144
|
)
|
|
(153
|
)
|
|
(98
|
)
|
|||
|
Change in unrecognized non-U.S. tax benefits
|
(68
|
)
|
|
(97
|
)
|
|
32
|
|
|||
|
Hewlett Packard tax sharing agreement adjustment
|
—
|
|
|
(3
|
)
|
|
(17
|
)
|
|||
|
Valuation allowances
|
(280
|
)
|
|
(84
|
)
|
|
(162
|
)
|
|||
|
Other, net
|
9
|
|
|
(3
|
)
|
|
7
|
|
|||
|
Provision for income taxes
|
$
|
(110
|
)
|
|
$
|
20
|
|
|
$
|
8
|
|
|
Effective tax rate
|
(11
|
)%
|
|
2
|
%
|
|
1
|
%
|
|||
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Current income tax assets (included within other current assets)
|
$
|
65
|
|
|
$
|
42
|
|
|
Long-term income tax assets (included within other assets)
|
49
|
|
|
30
|
|
||
|
Current income tax liabilities(included within other accrued liabilities)
|
(115
|
)
|
|
(62
|
)
|
||
|
Long-term income tax liabilities (included within other long-term liabilities)
|
(320
|
)
|
|
(356
|
)
|
||
|
Total
|
$
|
(321
|
)
|
|
$
|
(346
|
)
|
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Balance, beginning of year
|
$
|
469
|
|
|
$
|
656
|
|
|
$
|
930
|
|
|
Additions for acquisitions
|
—
|
|
|
—
|
|
|
15
|
|
|||
|
Additions for tax positions related to the current year
|
56
|
|
|
41
|
|
|
46
|
|
|||
|
Additions for tax positions from prior years
|
40
|
|
|
18
|
|
|
75
|
|
|||
|
Reductions for tax positions from prior years
|
(90
|
)
|
|
(170
|
)
|
|
(284
|
)
|
|||
|
Settlements with taxing authorities
|
(2
|
)
|
|
(67
|
)
|
|
(119
|
)
|
|||
|
Statute of limitations expirations
|
(9
|
)
|
|
(9
|
)
|
|
(7
|
)
|
|||
|
Balance, end of year
|
$
|
464
|
|
|
$
|
469
|
|
|
$
|
656
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Numerator:
|
|
|
|
|
|
||||||
|
Net income
|
$
|
1,153
|
|
|
$
|
1,012
|
|
|
$
|
684
|
|
|
Denominators:
|
|
|
|
|
|
||||||
|
Basic weighted average shares
|
348
|
|
|
347
|
|
|
347
|
|
|||
|
Potentially dilutive common stock equivalents — stock options and other employee stock plans
|
5
|
|
|
8
|
|
|
6
|
|
|||
|
Diluted weighted average shares
|
353
|
|
|
355
|
|
|
353
|
|
|||
|
|
Years Ended October 31,
|
|||||||
|
|
2012
|
|
2011
|
|
2010
|
|||
|
Options to purchase shares of common stock (in millions)
|
—
|
|
|
1
|
|
|
11
|
|
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Finished goods
|
$
|
509
|
|
|
$
|
452
|
|
|
Purchased parts and fabricated assemblies
|
505
|
|
|
446
|
|
||
|
Inventory
|
$
|
1,014
|
|
|
$
|
898
|
|
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Land
|
$
|
142
|
|
|
$
|
138
|
|
|
Buildings and leasehold improvements
|
1,475
|
|
|
1,271
|
|
||
|
Machinery and equipment
|
882
|
|
|
833
|
|
||
|
Software
|
383
|
|
|
370
|
|
||
|
Total property, plant and equipment
|
2,882
|
|
|
2,612
|
|
||
|
Accumulated depreciation and amortization
|
(1,718
|
)
|
|
(1,606
|
)
|
||
|
Property, plant and equipment, net
|
$
|
1,164
|
|
|
$
|
1,006
|
|
|
|
Life Sciences
|
|
Chemical
Analysis
|
|
Diagnostics and Genomics
|
|
Electronic
Measurement
|
|
Total
|
||||||||||
|
|
(in millions)
|
||||||||||||||||||
|
Goodwill as of October 31, 2010
|
$
|
270
|
|
|
$
|
747
|
|
|
$
|
41
|
|
|
$
|
398
|
|
|
$
|
1,456
|
|
|
Foreign currency translation impact and other adjustments
|
3
|
|
|
7
|
|
|
—
|
|
|
37
|
|
|
47
|
|
|||||
|
Goodwill arising from acquisitions
|
46
|
|
|
11
|
|
|
7
|
|
|
—
|
|
|
64
|
|
|||||
|
Goodwill as of October 31, 2011
|
$
|
319
|
|
|
$
|
765
|
|
|
$
|
48
|
|
|
$
|
435
|
|
|
$
|
1,567
|
|
|
Foreign currency translation impact
|
(4
|
)
|
|
(10
|
)
|
|
29
|
|
|
(9
|
)
|
|
6
|
|
|||||
|
Goodwill arising from acquisitions
|
32
|
|
|
1
|
|
|
1,387
|
|
|
32
|
|
|
1,452
|
|
|||||
|
Goodwill as of October 31, 2012
|
$
|
347
|
|
|
$
|
756
|
|
|
$
|
1,464
|
|
|
$
|
458
|
|
|
$
|
3,025
|
|
|
|
Other Intangible Assets
|
||||||||||
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
and Impairments
|
|
Net Book
Value
|
||||||
|
|
(in millions)
|
||||||||||
|
As of October 31, 2011:
|
|
|
|
|
|
||||||
|
Purchased technology
|
$
|
510
|
|
|
$
|
246
|
|
|
$
|
264
|
|
|
Backlog
|
12
|
|
|
12
|
|
|
—
|
|
|||
|
Trademark/Tradename
|
40
|
|
|
20
|
|
|
20
|
|
|||
|
Customer relationships
|
249
|
|
|
114
|
|
|
135
|
|
|||
|
Total amortizable intangible assets
|
$
|
811
|
|
|
$
|
392
|
|
|
$
|
419
|
|
|
In-Process R&D
|
10
|
|
|
—
|
|
|
10
|
|
|||
|
Total
|
$
|
821
|
|
|
$
|
392
|
|
|
$
|
429
|
|
|
As of October 31, 2012:
|
|
|
|
|
|
||||||
|
Purchased technology
|
$
|
849
|
|
|
$
|
333
|
|
|
$
|
516
|
|
|
Backlog
|
14
|
|
|
14
|
|
|
—
|
|
|||
|
Trademark/Tradename
|
168
|
|
|
27
|
|
|
141
|
|
|||
|
Customer relationships
|
391
|
|
|
155
|
|
|
236
|
|
|||
|
Total amortizable intangible assets
|
$
|
1,422
|
|
|
$
|
529
|
|
|
$
|
893
|
|
|
In-Process R&D
|
193
|
|
|
—
|
|
|
193
|
|
|||
|
Total
|
$
|
1,615
|
|
|
$
|
529
|
|
|
$
|
1,086
|
|
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Short-Term
|
|
|
|
||||
|
Cost method investments
|
$
|
11
|
|
|
—
|
|
|
|
|
|
|
|
||||
|
Long-Term
|
|
|
|
||||
|
Cost method investments
|
$
|
59
|
|
|
$
|
65
|
|
|
Trading securities
|
50
|
|
|
49
|
|
||
|
Available-for-sale investments
|
—
|
|
|
3
|
|
||
|
Total
|
$
|
109
|
|
|
$
|
117
|
|
|
|
|
October 31, 2011
|
||||||||||||||
|
|
|
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Estimated
Fair
Value
|
||||||||
|
|
(in millions)
|
|||||||||||||||
|
Equity securities
|
|
1
|
|
|
2
|
|
|
—
|
|
|
3
|
|
||||
|
|
|
$
|
1
|
|
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
3
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Available-for-sale investments — realized gain
|
$
|
2
|
|
|
$
|
6
|
|
|
$
|
2
|
|
|
Other than temporary impairment on investments
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
Fair Value Measurement at
October 31, 2012 Using |
||||||||||||
|
|
October 31,
2012 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||
|
|
(in millions)
|
||||||||||||||
|
Assets:
|
|
|
|
|
|
|
|
||||||||
|
Short-term
|
|
|
|
|
|
|
|
||||||||
|
Cash equivalents (money market funds)
|
$
|
1,834
|
|
|
$
|
1,834
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Derivative instruments (foreign exchange and interest rate swap contracts)
|
7
|
|
|
—
|
|
|
7
|
|
|
—
|
|
||||
|
Long-term
|
|
|
|
|
|
|
|
||||||||
|
Trading securities
|
50
|
|
|
50
|
|
|
—
|
|
|
—
|
|
||||
|
Total assets measured at fair value
|
$
|
1,891
|
|
|
$
|
1,884
|
|
|
$
|
7
|
|
|
$
|
—
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
|
Short-term
|
|
|
|
|
|
|
|
||||||||
|
Derivative instruments (foreign exchange contracts)
|
$
|
6
|
|
|
$
|
—
|
|
|
$
|
6
|
|
|
$
|
—
|
|
|
Long-term
|
|
|
|
|
|
|
|
||||||||
|
Deferred compensation liability
|
48
|
|
|
—
|
|
|
48
|
|
|
—
|
|
||||
|
Total liabilities measured at fair value
|
$
|
54
|
|
|
$
|
—
|
|
|
$
|
54
|
|
|
$
|
—
|
|
|
|
|
|
Fair Value Measurement at
October 31, 2011 Using
|
||||||||||||
|
|
October 31,
2011 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||
|
|
(in millions)
|
||||||||||||||
|
Assets:
|
|
|
|
|
|
|
|
||||||||
|
Short-term
|
|
|
|
|
|
|
|
||||||||
|
Cash equivalents (money market funds)
|
$
|
1,972
|
|
|
$
|
1,972
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Derivative instruments (foreign exchange and interest rate swap contracts)
|
37
|
|
|
—
|
|
|
37
|
|
|
—
|
|
||||
|
Long-term
|
|
|
|
|
|
|
|
||||||||
|
Trading securities
|
49
|
|
|
49
|
|
|
—
|
|
|
—
|
|
||||
|
Available-for-sale investments
|
3
|
|
|
3
|
|
|
—
|
|
|
—
|
|
||||
|
Total assets measured at fair value
|
$
|
2,061
|
|
|
$
|
2,024
|
|
|
$
|
37
|
|
|
$
|
—
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
|
Short-term
|
|
|
|
|
|
|
|
||||||||
|
Derivative instruments (foreign exchange contracts)
|
$
|
11
|
|
|
$
|
—
|
|
|
$
|
11
|
|
|
$
|
—
|
|
|
Long-term
|
|
|
|
|
|
|
|
||||||||
|
Deferred compensation liability
|
46
|
|
|
—
|
|
|
46
|
|
|
—
|
|
||||
|
Total liabilities measured at fair value
|
$
|
57
|
|
|
$
|
—
|
|
|
$
|
57
|
|
|
$
|
—
|
|
|
|
Years Ended
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Long-lived assets held and used
|
$
|
1
|
|
|
$
|
7
|
|
|
Long-lived assets held for sale
|
$
|
—
|
|
|
$
|
1
|
|
|
|
|
Derivatives in
Cash Flow
Hedging Relationships
|
|
Derivatives
Not
Designated
as Hedging
Instruments
|
||||||||
|
|
|
Forward
Contracts
|
|
Option
Contracts
|
|
Forward
Contracts
|
||||||
|
Currency
|
|
Buy/(Sell)
|
|
Buy/(Sell)
|
|
Buy/(Sell)
|
||||||
|
|
|
(in millions)
|
||||||||||
|
Euro
|
|
$
|
(38
|
)
|
|
$
|
—
|
|
|
$
|
273
|
|
|
British Pound
|
|
—
|
|
|
—
|
|
|
53
|
|
|||
|
Canadian Dollar
|
|
(46
|
)
|
|
—
|
|
|
—
|
|
|||
|
Australian Dollars
|
|
—
|
|
|
—
|
|
|
59
|
|
|||
|
Malaysian Ringgit
|
|
128
|
|
|
—
|
|
|
25
|
|
|||
|
Japanese Yen
|
|
(29
|
)
|
|
(111
|
)
|
|
103
|
|
|||
|
Other
|
|
(9
|
)
|
|
—
|
|
|
(24
|
)
|
|||
|
|
|
$
|
6
|
|
|
$
|
(111
|
)
|
|
$
|
489
|
|
|
Fair Values of Derivative Instruments
|
||||||||||||||||||
|
Asset Derivatives
|
|
Liability Derivatives
|
||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||
|
Balance Sheet Location
|
|
October 31,
2012 |
|
October 31,
2011 |
|
Balance Sheet Location
|
|
October 31,
2012 |
|
October 31,
2011 |
||||||||
|
(in millions)
|
||||||||||||||||||
|
Derivatives designated as hedging instruments:
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Fair value hedges
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Interest rate contracts
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Other current assets
|
|
$
|
—
|
|
|
$
|
3
|
|
|
Other accrued liabilities
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Other assets
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Other long-term liabilities
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Cash flow hedges
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Foreign exchange contracts
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Other current assets
|
|
$
|
4
|
|
|
$
|
7
|
|
|
Other accrued liabilities
|
|
$
|
2
|
|
|
$
|
3
|
|
|
|
|
$
|
4
|
|
|
$
|
10
|
|
|
|
|
$
|
2
|
|
|
$
|
3
|
|
|
Derivatives not designated as hedging instruments:
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Foreign exchange contracts
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Other current assets
|
|
$
|
3
|
|
|
$
|
27
|
|
|
Other accrued liabilities
|
|
$
|
4
|
|
|
$
|
8
|
|
|
Total derivatives
|
|
$
|
7
|
|
|
$
|
37
|
|
|
|
|
$
|
6
|
|
|
$
|
11
|
|
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Derivatives designated as hedging instruments:
|
|
|
|
|
|
||||||
|
Fair Value Hedges
|
|
|
|
|
|
||||||
|
Gain on interest rate swap contracts, including interest accrual, recognized in interest expense
|
$
|
—
|
|
|
$
|
27
|
|
|
$
|
78
|
|
|
Gain (loss) on hedged item, recognized in interest expense
|
$
|
3
|
|
|
$
|
(3
|
)
|
|
$
|
(57
|
)
|
|
Cash Flow Hedges
|
|
|
|
|
|
||||||
|
Gain recognized in accumulated other comprehensive income
|
$
|
7
|
|
|
$
|
—
|
|
|
$
|
4
|
|
|
Gain (loss) reclassified from accumulated other comprehensive income into cost of sales
|
$
|
8
|
|
|
$
|
(5
|
)
|
|
$
|
7
|
|
|
Treasury Lock Agreements
|
|
|
|
|
|
||||||
|
Gain recognized in accumulated other comprehensive income
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Derivatives not designated as hedging instruments:
|
|
|
|
|
|
||||||
|
Gain (loss) recognized in other income (expense), net
|
$
|
(34
|
)
|
|
$
|
13
|
|
|
$
|
(14
|
)
|
|
|
Workforce
Reduction
|
|
Consolidation
of Excess
Facilities
|
|
Impairment
of Building
and
Purchased
Intangible
Assets
|
|
Special
Charges
related to
Inventory
|
|
Total
|
||||||||||
|
|
(in millions)
|
||||||||||||||||||
|
Balance as of October 31, 2009
|
$
|
49
|
|
|
$
|
19
|
|
|
$
|
—
|
|
|
$
|
1
|
|
|
$
|
69
|
|
|
Income statement expense
|
39
|
|
|
19
|
|
|
6
|
|
|
—
|
|
|
64
|
|
|||||
|
Asset impairments/inventory charges
|
—
|
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
(6
|
)
|
|||||
|
Cash payments
|
(80
|
)
|
|
(12
|
)
|
|
—
|
|
|
—
|
|
|
(92
|
)
|
|||||
|
Balance as of October 31, 2010
|
$
|
8
|
|
|
$
|
26
|
|
|
$
|
—
|
|
|
$
|
1
|
|
|
$
|
35
|
|
|
Income statement expense
|
1
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|||||
|
Asset impairments/inventory charges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
Cash payments
|
(9
|
)
|
|
(12
|
)
|
|
—
|
|
|
(1
|
)
|
|
(22
|
)
|
|||||
|
Balance as of October 31, 2011
|
$
|
—
|
|
|
$
|
15
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
15
|
|
|
Income statement expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
Asset impairments/inventory charges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
Cash payments
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
|
|
|
(4
|
)
|
|||||
|
Balance as of October 31, 2012
|
$
|
—
|
|
|
$
|
11
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
11
|
|
|
|
Years Ended
|
||||||||||
|
|
October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Cost of products and services
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8
|
|
|
Research and development
|
—
|
|
|
—
|
|
|
3
|
|
|||
|
Selling, general and administrative
|
—
|
|
|
2
|
|
|
53
|
|
|||
|
Total restructuring, asset impairments and other special charges
|
$
|
—
|
|
|
$
|
2
|
|
|
$
|
64
|
|
|
|
Pensions
|
|
U.S. Post-Retirement Benefit Plans
|
||||||||||||||||||||||||||||||||
|
|
U.S. Plans
|
|
Non-U.S. Plans
|
|
|||||||||||||||||||||||||||||||
|
|
2012
|
|
2011
|
|
2010
|
|
2012
|
|
2011
|
|
2010
|
|
2012
|
|
2011
|
|
2010
|
||||||||||||||||||
|
|
(in millions)
|
||||||||||||||||||||||||||||||||||
|
Net periodic benefit cost (benefit)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Service cost — benefits earned during the period
|
$
|
40
|
|
|
$
|
42
|
|
|
$
|
41
|
|
|
$
|
33
|
|
|
$
|
32
|
|
|
$
|
30
|
|
|
$
|
3
|
|
|
$
|
3
|
|
|
$
|
3
|
|
|
Interest cost on benefit obligation
|
27
|
|
|
28
|
|
|
27
|
|
|
74
|
|
|
72
|
|
|
72
|
|
|
15
|
|
|
21
|
|
|
26
|
|
|||||||||
|
Expected return on plan assets
|
(46
|
)
|
|
(44
|
)
|
|
(41
|
)
|
|
(92
|
)
|
|
(94
|
)
|
|
(87
|
)
|
|
(19
|
)
|
|
(21
|
)
|
|
(20
|
)
|
|||||||||
|
Amortization of net actuarial loss
|
7
|
|
|
4
|
|
|
7
|
|
|
42
|
|
|
40
|
|
|
35
|
|
|
16
|
|
|
14
|
|
|
16
|
|
|||||||||
|
Amortization of prior service benefit
|
(12
|
)
|
|
(12
|
)
|
|
(12
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|
(35
|
)
|
|
(26
|
)
|
|
(14
|
)
|
|||||||||
|
Net periodic benefit cost (benefit)
|
16
|
|
|
18
|
|
|
22
|
|
|
56
|
|
|
49
|
|
|
49
|
|
|
(20
|
)
|
|
(9
|
)
|
|
11
|
|
|||||||||
|
Curtailments and settlements
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
|
Total periodic benefit cost (benefit)
|
$
|
16
|
|
|
$
|
17
|
|
|
$
|
22
|
|
|
$
|
56
|
|
|
$
|
49
|
|
|
$
|
49
|
|
|
$
|
(20
|
)
|
|
$
|
(9
|
)
|
|
$
|
11
|
|
|
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Net actuarial (gain) loss
|
$
|
69
|
|
|
$
|
31
|
|
|
$
|
(25
|
)
|
|
$
|
214
|
|
|
$
|
40
|
|
|
$
|
42
|
|
|
$
|
22
|
|
|
$
|
12
|
|
|
$
|
(10
|
)
|
|
Amortization of net actuarial loss
|
(7
|
)
|
|
(4
|
)
|
|
(7
|
)
|
|
(42
|
)
|
|
(40
|
)
|
|
(35
|
)
|
|
(16
|
)
|
|
(14
|
)
|
|
(16
|
)
|
|||||||||
|
Prior service cost (benefit)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
(194
|
)
|
|
—
|
|
|||||||||
|
Amortization of prior service benefit
|
12
|
|
|
12
|
|
|
12
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
35
|
|
|
26
|
|
|
14
|
|
|||||||||
|
Foreign currency
|
—
|
|
|
—
|
|
|
—
|
|
|
(5
|
)
|
|
11
|
|
|
11
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
|
Total recognized in other comprehensive (income) loss
|
$
|
74
|
|
|
$
|
39
|
|
|
$
|
(20
|
)
|
|
$
|
168
|
|
|
$
|
18
|
|
|
$
|
19
|
|
|
$
|
41
|
|
|
$
|
(170
|
)
|
|
$
|
(12
|
)
|
|
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss
|
$
|
90
|
|
|
$
|
56
|
|
|
$
|
2
|
|
|
$
|
224
|
|
|
$
|
67
|
|
|
$
|
68
|
|
|
$
|
21
|
|
|
$
|
(179
|
)
|
|
$
|
(1
|
)
|
|
|
U.S. Defined
Benefit Plans
|
|
Non-U.S. Defined
Benefit Plans
|
|
U.S.
Post-Retirement
Benefit Plans
|
||||||||||||||||||
|
|
2012
|
|
2011
|
|
2012
|
|
2011
|
|
2012
|
|
2011
|
||||||||||||
|
|
(in millions)
|
||||||||||||||||||||||
|
Change in fair value of plan assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Fair value — beginning of year
|
$
|
578
|
|
|
$
|
538
|
|
|
$
|
1,684
|
|
|
$
|
1,598
|
|
|
$
|
258
|
|
|
$
|
263
|
|
|
Actual return on plan assets
|
65
|
|
|
37
|
|
|
158
|
|
|
35
|
|
|
25
|
|
|
18
|
|
||||||
|
Employer contributions
|
30
|
|
|
30
|
|
|
54
|
|
|
59
|
|
|
—
|
|
|
—
|
|
||||||
|
Participants' contributions
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|
—
|
|
||||||
|
Benefits paid
|
(19
|
)
|
|
(27
|
)
|
|
(46
|
)
|
|
(46
|
)
|
|
(22
|
)
|
|
(23
|
)
|
||||||
|
Currency impact
|
—
|
|
|
—
|
|
|
(49
|
)
|
|
31
|
|
|
—
|
|
|
—
|
|
||||||
|
Fair value — end of year
|
$
|
654
|
|
|
$
|
578
|
|
|
$
|
1,801
|
|
|
$
|
1,684
|
|
|
$
|
261
|
|
|
$
|
258
|
|
|
Change in benefit obligation:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Benefit obligation — beginning of year
|
$
|
637
|
|
|
$
|
575
|
|
|
$
|
1,830
|
|
|
$
|
1,742
|
|
|
$
|
319
|
|
|
$
|
502
|
|
|
Service cost
|
40
|
|
|
42
|
|
|
33
|
|
|
32
|
|
|
3
|
|
|
3
|
|
||||||
|
Interest cost
|
27
|
|
|
28
|
|
|
74
|
|
|
72
|
|
|
15
|
|
|
21
|
|
||||||
|
Participants' contributions
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|
—
|
|
||||||
|
Plan amendment
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
—
|
|
|
(194
|
)
|
||||||
|
Actuarial (gain) loss
|
87
|
|
|
21
|
|
|
280
|
|
|
(20
|
)
|
|
28
|
|
|
8
|
|
||||||
|
Benefits paid
|
(20
|
)
|
|
(29
|
)
|
|
(46
|
)
|
|
(46
|
)
|
|
(22
|
)
|
|
(21
|
)
|
||||||
|
Curtailments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
|
—
|
|
||||||
|
Currency impact
|
—
|
|
|
—
|
|
|
(54
|
)
|
|
37
|
|
|
—
|
|
|
—
|
|
||||||
|
Benefit obligation — end of year
|
$
|
771
|
|
|
$
|
637
|
|
|
$
|
2,117
|
|
|
$
|
1,830
|
|
|
$
|
343
|
|
|
$
|
319
|
|
|
Overfunded (underfunded) status of PBO
|
$
|
(117
|
)
|
|
$
|
(59
|
)
|
|
$
|
(316
|
)
|
|
$
|
(146
|
)
|
|
$
|
(82
|
)
|
|
$
|
(61
|
)
|
|
Amounts recognized in the consolidated balance sheet consist of:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Other assets
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
18
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Employee compensation and benefits
|
(2
|
)
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
Retirement and post-retirement benefits
|
(115
|
)
|
|
(57
|
)
|
|
(316
|
)
|
|
(164
|
)
|
|
(82
|
)
|
|
(61
|
)
|
||||||
|
Net asset (liability)
|
$
|
(117
|
)
|
|
$
|
(59
|
)
|
|
$
|
(316
|
)
|
|
$
|
(146
|
)
|
|
$
|
(82
|
)
|
|
$
|
(61
|
)
|
|
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Actuarial (gains) losses
|
$
|
127
|
|
|
$
|
66
|
|
|
$
|
683
|
|
|
$
|
524
|
|
|
$
|
194
|
|
|
$
|
188
|
|
|
Prior service costs (benefits)
|
(79
|
)
|
|
(91
|
)
|
|
(8
|
)
|
|
(9
|
)
|
|
(218
|
)
|
|
(253
|
)
|
||||||
|
Total
|
$
|
48
|
|
|
$
|
(25
|
)
|
|
$
|
675
|
|
|
$
|
515
|
|
|
$
|
(24
|
)
|
|
$
|
(65
|
)
|
|
|
U.S. Defined
Benefit Plans
|
|
Non-U.S. Defined
Benefit Plans
|
|
U.S. Post-Retirement
Benefit Plans
|
||||||
|
|
(in millions)
|
||||||||||
|
Amortization of net prior service cost (benefit)
|
$
|
(12
|
)
|
|
$
|
(1
|
)
|
|
$
|
(35
|
)
|
|
Amortization of actuarial net loss (gain)
|
$
|
13
|
|
|
$
|
58
|
|
|
$
|
18
|
|
|
|
|
|
Fair Value Measurement
at October 31, 2012 Using
|
||||||||||||
|
|
October 31,
2012 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||
|
|
(in millions)
|
||||||||||||||
|
Cash and Cash Equivalents
|
$
|
8
|
|
|
$
|
1
|
|
|
$
|
7
|
|
|
$
|
—
|
|
|
Equity
|
486
|
|
|
134
|
|
|
352
|
|
|
—
|
|
||||
|
Fixed Income
|
137
|
|
|
15
|
|
|
122
|
|
|
—
|
|
||||
|
Other Investments
|
23
|
|
|
2
|
|
|
—
|
|
|
21
|
|
||||
|
Total assets measured at fair value
|
$
|
654
|
|
|
$
|
152
|
|
|
$
|
481
|
|
|
$
|
21
|
|
|
|
Years Ended
October 31.
|
||||||
|
|
2012
|
|
2011
|
||||
|
Balance, beginning of year
|
$
|
26
|
|
|
$
|
29
|
|
|
Realized gains
|
3
|
|
|
8
|
|
||
|
Unrealized gains/(losses)
|
(2
|
)
|
|
(3
|
)
|
||
|
Purchases, sales, issuances, and settlements
|
(6
|
)
|
|
—
|
|
||
|
Transfers in (out)
|
—
|
|
|
(8
|
)
|
||
|
Balance, end of year
|
$
|
21
|
|
|
$
|
26
|
|
|
|
|
|
Fair Value Measurement at
October 31, 2012 Using
|
||||||||||||
|
|
October 31,
2012 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||
|
|
(in millions)
|
||||||||||||||
|
Cash and Cash Equivalents
|
$
|
5
|
|
|
$
|
2
|
|
|
$
|
3
|
|
|
$
|
—
|
|
|
Equity
|
189
|
|
|
52
|
|
|
137
|
|
|
—
|
|
||||
|
Fixed Income
|
54
|
|
|
6
|
|
|
48
|
|
|
—
|
|
||||
|
Other Investments
|
13
|
|
|
1
|
|
|
—
|
|
|
12
|
|
||||
|
Total assets measured at fair value
|
$
|
261
|
|
|
$
|
61
|
|
|
$
|
188
|
|
|
$
|
12
|
|
|
|
Years Ended
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
Balance, beginning of year
|
$
|
15
|
|
|
$
|
16
|
|
|
Realized gains
|
2
|
|
|
5
|
|
||
|
Unrealized gains/(losses)
|
(1
|
)
|
|
(2
|
)
|
||
|
Purchases, sales, issuances, and settlements
|
(4
|
)
|
|
—
|
|
||
|
Transfers in (out)
|
—
|
|
|
(4
|
)
|
||
|
Balance, end of year
|
$
|
12
|
|
|
$
|
15
|
|
|
|
|
|
Fair Value Measurement at
October 31, 2012 Using
|
||||||||||||
|
|
October 31,
2012 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||
|
|
(in millions)
|
||||||||||||||
|
Cash and Cash Equivalents
|
$
|
3
|
|
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Equity
|
861
|
|
|
226
|
|
|
635
|
|
|
—
|
|
||||
|
Fixed Income
|
900
|
|
|
19
|
|
|
881
|
|
|
—
|
|
||||
|
Other Investments
|
37
|
|
|
—
|
|
|
37
|
|
|
—
|
|
||||
|
Total assets measured at fair value
|
$
|
1,801
|
|
|
$
|
248
|
|
|
$
|
1,553
|
|
|
$
|
—
|
|
|
|
2012
|
|
2011
|
||||||||||||
|
|
Benefit
Obligation
|
|
|
|
Benefit
Obligation
|
|
|
||||||||
|
|
Fair Value of
Plan Assets
|
|
Fair Value of
Plan Assets
|
||||||||||||
|
|
PBO
|
|
PBO
|
|
|||||||||||
|
|
(in millions)
|
||||||||||||||
|
U.S. defined benefit plans where PBO exceeds the fair value of plan assets
|
$
|
771
|
|
|
$
|
654
|
|
|
$
|
637
|
|
|
$
|
578
|
|
|
U.S. defined benefit plans where fair value of plan assets exceeds PBO
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
Total
|
$
|
771
|
|
|
$
|
654
|
|
|
$
|
637
|
|
|
$
|
578
|
|
|
Non-U.S. defined benefit plans where PBO exceeds or is equal to the fair value of plan assets
|
$
|
2,117
|
|
|
$
|
1,801
|
|
|
$
|
1,760
|
|
|
$
|
1,598
|
|
|
Non-U.S. defined benefit plans where fair value of plan assets exceeds PBO
|
—
|
|
|
—
|
|
|
70
|
|
|
86
|
|
||||
|
Total
|
$
|
2,117
|
|
|
$
|
1,801
|
|
|
$
|
1,830
|
|
|
$
|
1,684
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
ABO
|
|
|
|
ABO
|
|
|
||||||||
|
U.S. defined benefit plans where ABO exceeds the fair value of plan assets
|
$
|
749
|
|
|
$
|
654
|
|
|
$
|
624
|
|
|
$
|
578
|
|
|
U.S. defined benefit plans where the fair value of plan assets exceeds ABO
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
Total
|
$
|
749
|
|
|
$
|
654
|
|
|
$
|
624
|
|
|
$
|
578
|
|
|
Non-U.S. defined benefit plans where ABO exceeds or is equal to the fair value of plan assets
|
$
|
2,034
|
|
|
$
|
1,801
|
|
|
$
|
1,699
|
|
|
$
|
1,598
|
|
|
Non-U.S. defined benefit plans where fair value of plan assets exceeds ABO
|
—
|
|
|
—
|
|
|
67
|
|
|
86
|
|
||||
|
Total
|
$
|
2,034
|
|
|
$
|
1,801
|
|
|
$
|
1,766
|
|
|
$
|
1,684
|
|
|
|
U.S. Defined
Benefit Plans
|
|
Non-U.S. Defined
Benefit Plans
|
|
U.S. Post-Retirement
Benefit Plans
|
||||||
|
|
(in millions)
|
||||||||||
|
2013
|
$
|
59
|
|
|
$
|
53
|
|
|
$
|
25
|
|
|
2014
|
$
|
60
|
|
|
$
|
55
|
|
|
$
|
25
|
|
|
2015
|
$
|
61
|
|
|
$
|
59
|
|
|
$
|
26
|
|
|
2016
|
$
|
62
|
|
|
$
|
63
|
|
|
$
|
26
|
|
|
2017
|
$
|
63
|
|
|
$
|
67
|
|
|
$
|
26
|
|
|
2018 - 2022
|
$
|
266
|
|
|
$
|
449
|
|
|
$
|
128
|
|
|
|
For years ended October 31,
|
||||
|
|
2012
|
|
2011
|
|
2010
|
|
U.S. defined benefit plans:
|
|
|
|
|
|
|
Discount rate
|
4.50%
|
|
5.00%
|
|
5.25%
|
|
Average increase in compensation levels
|
3.50%
|
|
3.50%
|
|
3.50%
|
|
Expected long-term return on assets
|
8.00%
|
|
8.25%
|
|
8.50%
|
|
Non-U.S. defined benefit plans:
|
|
|
|
|
|
|
Discount rate
|
2.00-5.50%
|
|
2.00-5.25%
|
|
2.25-5.75%
|
|
Average increase in compensation levels
|
2.50-3.25%
|
|
2.50-3.75%
|
|
2.50-3.75%
|
|
Expected long-term return on assets
|
4.00-6.50%
|
|
4.00-6.75%
|
|
4.25-7.00%
|
|
U.S. post-retirement benefits plans:
|
|
|
|
|
|
|
Discount rate
|
4.75%
|
|
5.50%
|
|
5.50%
|
|
Expected long-term return on assets
|
8.00%
|
|
8.25%
|
|
8.50%
|
|
Current medical cost trend rate
|
9.00%
|
|
10.00%
|
|
10.00%
|
|
Ultimate medical cost trend rate
|
4.50%
|
|
4.75%
|
|
5.00%
|
|
Medical cost trend rate decreases to ultimate rate in year
|
2026
|
|
2025
|
|
2019
|
|
|
As of the Years Ending October 31,
|
||
|
|
2012
|
|
2011
|
|
U.S. defined benefit plans:
|
|
|
|
|
Discount rate
|
3.25%
|
|
4.50%
|
|
Average increase in compensation levels
|
3.50%
|
|
3.50%
|
|
Non-U.S. defined benefit plans:
|
|
|
|
|
Discount rate
|
1.50-4.50%
|
|
2.00-5.50%
|
|
Average increase in compensation levels
|
2.50-3.00%
|
|
2.50-3.25%
|
|
U.S. post-retirement benefits plans:
|
|
|
|
|
Discount rate
|
3.50%
|
|
4.75%
|
|
Current medical cost trend rate
|
9.00%
|
|
9.00%
|
|
Ultimate medical cost trend rate
|
3.50%
|
|
4.50%
|
|
Medical cost trend rate decreases to ultimate rate in year
|
2027
|
|
2026
|
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Balance as of October 31, 2011 and 2010
|
$
|
50
|
|
|
$
|
45
|
|
|
Reserve acquired upon close of Dako acquisition
|
1
|
|
|
—
|
|
||
|
Accruals for warranties including change in estimates
|
87
|
|
|
72
|
|
||
|
Settlements made during the period
|
(78
|
)
|
|
(67
|
)
|
||
|
Balance as of October 31, 2012 and 2011
|
$
|
60
|
|
|
$
|
50
|
|
|
|
October 31, 2012
|
|
October 31, 2011
|
||||||||||||||||||||
|
|
Amortized
Principal
|
|
Swap
|
|
Total
|
|
Amortized
Principal
|
|
Swap
|
|
Total
|
||||||||||||
|
|
(in millions)
|
||||||||||||||||||||||
|
2013 Senior Notes
|
—
|
|
|
—
|
|
|
—
|
|
|
250
|
|
|
—
|
|
|
250
|
|
||||||
|
2015 Senior Notes
|
499
|
|
|
18
|
|
|
517
|
|
|
499
|
|
|
24
|
|
|
523
|
|
||||||
|
2017 Senior Notes
|
599
|
|
|
26
|
|
|
625
|
|
|
598
|
|
|
31
|
|
|
629
|
|
||||||
|
2020 Senior Notes
|
498
|
|
|
29
|
|
|
527
|
|
|
498
|
|
|
32
|
|
|
530
|
|
||||||
|
2022 Senior Notes
|
399
|
|
|
—
|
|
|
399
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
Total
|
$
|
1,995
|
|
|
$
|
73
|
|
|
$
|
2,068
|
|
|
$
|
1,845
|
|
|
$
|
87
|
|
|
$
|
1,932
|
|
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Unrealized gain on equity securities, net of $(8) of tax for 2011
|
$
|
—
|
|
|
$
|
(6
|
)
|
|
Foreign currency translation, net of $(102) of tax for 2012 and 2011
|
424
|
|
|
452
|
|
||
|
Unrealized losses on defined benefit plans, net of tax of $162 and $84 for 2012 and 2011, respectively
|
(537
|
)
|
|
(331
|
)
|
||
|
Unrealized gains (losses) on derivative instruments, net of tax of $(3)and $(2) for 2012 and 2011, respectively
|
2
|
|
|
1
|
|
||
|
Total accumulated other comprehensive income
|
$
|
(111
|
)
|
|
$
|
116
|
|
|
|
Life Sciences
|
|
Chemical
Analysis
|
|
Diagnostics and Genomics
|
Electronic
Measurement
|
|
Total
Segments
|
||||||||||
|
|
(in millions)
|
|||||||||||||||||
|
Year ended October 31, 2012:
|
|
|
|
|
|
|
|
|
||||||||||
|
Total net revenue
|
$
|
1,582
|
|
|
$
|
1,559
|
|
|
$
|
402
|
|
$
|
3,315
|
|
|
$
|
6,858
|
|
|
Income from operations
|
$
|
230
|
|
|
$
|
338
|
|
|
$
|
65
|
|
$
|
751
|
|
|
$
|
1,384
|
|
|
Depreciation expense
|
$
|
41
|
|
|
$
|
31
|
|
|
$
|
16
|
|
$
|
83
|
|
|
$
|
171
|
|
|
Share-based compensation expense
|
$
|
18
|
|
|
$
|
18
|
|
|
$
|
3
|
|
$
|
37
|
|
|
$
|
76
|
|
|
Year ended October 31, 2011:
|
|
|
|
|
|
|
|
—
|
|
|||||||||
|
Total segment revenue
|
$
|
1,515
|
|
|
$
|
1,518
|
|
|
$
|
277
|
|
$
|
3,316
|
|
|
$
|
6,626
|
|
|
Varian acquisition deferred revenue fair value adjustment
|
$
|
(4
|
)
|
|
$
|
(7
|
)
|
|
$
|
—
|
|
$
|
—
|
|
|
$
|
(11
|
)
|
|
Total net revenue
|
$
|
1,511
|
|
|
$
|
1,511
|
|
|
$
|
277
|
|
$
|
3,316
|
|
|
$
|
6,615
|
|
|
Income from operations
|
$
|
202
|
|
|
$
|
313
|
|
|
$
|
35
|
|
$
|
760
|
|
|
$
|
1,310
|
|
|
Depreciation expense
|
$
|
24
|
|
|
$
|
28
|
|
|
$
|
15
|
|
$
|
75
|
|
|
$
|
142
|
|
|
Share-based compensation expense
|
$
|
16
|
|
|
$
|
17
|
|
|
$
|
4
|
|
$
|
36
|
|
|
$
|
73
|
|
|
Year ended October 31, 2010:
|
|
|
|
|
|
|
|
—
|
|
|||||||||
|
Total segment revenue
|
$
|
1,226
|
|
|
$
|
1,200
|
|
|
$
|
253
|
|
$
|
2,784
|
|
|
$
|
5,463
|
|
|
Varian acquisition deferred revenue fair value adjustment
|
$
|
(15
|
)
|
|
$
|
(4
|
)
|
|
—
|
|
—
|
|
|
$
|
(19
|
)
|
||
|
Total net revenue
|
$
|
1,211
|
|
|
$
|
1,196
|
|
|
$
|
253
|
|
$
|
2,784
|
|
|
$
|
5,444
|
|
|
Income from operations
|
$
|
203
|
|
|
$
|
279
|
|
|
$
|
18
|
|
$
|
438
|
|
|
$
|
938
|
|
|
Depreciation expense
|
$
|
22
|
|
|
$
|
24
|
|
|
$
|
12
|
|
$
|
66
|
|
|
$
|
124
|
|
|
Share-based compensation expense
|
$
|
13
|
|
|
$
|
13
|
|
|
$
|
4
|
|
$
|
34
|
|
|
$
|
64
|
|
|
|
Years Ended October 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(in millions)
|
||||||||||
|
Total reportable segments' income from operations
|
$
|
1,384
|
|
|
$
|
1,310
|
|
|
$
|
938
|
|
|
Restructuring related costs
|
—
|
|
|
(2
|
)
|
|
(64
|
)
|
|||
|
Acceleration of depreciation for held and used assets
|
(15
|
)
|
|
—
|
|
|
—
|
|
|||
|
Asset Impairments
|
(1
|
)
|
|
(9
|
)
|
|
(19
|
)
|
|||
|
Transformational programs
|
(25
|
)
|
|
(51
|
)
|
|
(39
|
)
|
|||
|
Amortization of intangibles
|
(136
|
)
|
|
(113
|
)
|
|
(77
|
)
|
|||
|
Acquisition and integration costs
|
(74
|
)
|
|
(54
|
)
|
|
(102
|
)
|
|||
|
Varian acquisition related fair value adjustments
|
—
|
|
|
(9
|
)
|
|
(51
|
)
|
|||
|
Other
|
(14
|
)
|
|
(1
|
)
|
|
(20
|
)
|
|||
|
Interest Income
|
9
|
|
|
14
|
|
|
20
|
|
|||
|
Interest Expense
|
(101
|
)
|
|
(86
|
)
|
|
(96
|
)
|
|||
|
Gain on sale of network solutions division, net
|
—
|
|
|
—
|
|
|
132
|
|
|||
|
Other income (expense), net
|
16
|
|
|
33
|
|
|
70
|
|
|||
|
Income before taxes, as reported
|
$
|
1,043
|
|
|
$
|
1,032
|
|
|
$
|
692
|
|
|
|
Life Sciences
|
|
Chemical
Analysis
|
|
Diagnostics and Genomics
|
Electronic
Measurement
|
|
Total
Segments
|
||||||||||
|
|
(in millions)
|
|||||||||||||||||
|
As of October 31, 2012:
|
|
|
|
|
|
|
|
|
||||||||||
|
Assets
|
$
|
1,477
|
|
|
$
|
1,768
|
|
|
$
|
2,595
|
|
$
|
2,157
|
|
|
$
|
7,997
|
|
|
Capital expenditures
|
$
|
43
|
|
|
$
|
32
|
|
|
$
|
13
|
|
$
|
106
|
|
|
$
|
194
|
|
|
As of October 31, 2011:
|
|
|
|
|
|
|
|
|
||||||||||
|
Assets
|
$
|
1,479
|
|
|
$
|
1,772
|
|
|
$
|
358
|
|
$
|
2,156
|
|
|
$
|
5,765
|
|
|
Capital expenditures
|
$
|
33
|
|
|
$
|
23
|
|
|
$
|
8
|
|
$
|
124
|
|
|
$
|
188
|
|
|
|
October 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(in millions)
|
||||||
|
Total reportable segments' assets
|
$
|
7,997
|
|
|
$
|
5,765
|
|
|
Cash, cash equivalents and short-term investments
|
2,351
|
|
|
3,527
|
|
||
|
Prepaid expenses
|
128
|
|
|
107
|
|
||
|
Investments
|
109
|
|
|
114
|
|
||
|
Long-term and other receivables
|
161
|
|
|
221
|
|
||
|
Other, including valuation allowance
|
(210
|
)
|
|
(677
|
)
|
||
|
Total assets
|
$
|
10,536
|
|
|
$
|
9,057
|
|
|
|
United
States
|
|
China
|
|
Japan
|
|
Rest of the
World
|
|
Total
|
||||||||||
|
|
(in millions)
|
||||||||||||||||||
|
Net revenue:
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Year ended October 31, 2012
|
$
|
2,218
|
|
|
$
|
1,078
|
|
|
$
|
716
|
|
|
$
|
2,846
|
|
|
$
|
6,858
|
|
|
Year ended October 31, 2011
|
$
|
2,016
|
|
|
$
|
1,035
|
|
|
$
|
700
|
|
|
$
|
2,864
|
|
|
$
|
6,615
|
|
|
Year ended October 31, 2010
|
$
|
1,760
|
|
|
$
|
744
|
|
|
$
|
549
|
|
|
$
|
2,391
|
|
|
$
|
5,444
|
|
|
|
United
States
|
|
Japan
|
|
Rest of the
World
|
|
Total
|
||||||||
|
|
(in millions)
|
||||||||||||||
|
Long-lived assets:
|
|
|
|
|
|
|
|
||||||||
|
October 31, 2012
|
$
|
550
|
|
|
$
|
167
|
|
|
$
|
645
|
|
|
$
|
1,362
|
|
|
October 31, 2011
|
$
|
567
|
|
|
$
|
170
|
|
|
$
|
551
|
|
|
$
|
1,288
|
|
|
|
Three Months Ended
|
||||||||||||||
|
|
January 31,
|
|
April 30,
|
|
July 31,
|
|
October 31,
|
||||||||
|
|
(in millions, except per share data)
|
||||||||||||||
|
2012
|
|
|
|
|
|
|
(1)
|
||||||||
|
Net revenue
|
$
|
1,635
|
|
|
$
|
1,733
|
|
|
$
|
1,723
|
|
|
$
|
1,767
|
|
|
Gross profit
|
874
|
|
|
918
|
|
|
890
|
|
|
922
|
|
||||
|
Income from operations
|
271
|
|
|
300
|
|
|
270
|
|
|
278
|
|
||||
|
Net income
|
$
|
230
|
|
|
$
|
255
|
|
|
$
|
243
|
|
|
$
|
425
|
|
|
Net income per share — Basic:
|
$
|
0.66
|
|
|
$
|
0.73
|
|
|
$
|
0.70
|
|
|
$
|
1.22
|
|
|
Net income per share — Diluted:
|
$
|
0.65
|
|
|
$
|
0.72
|
|
|
$
|
0.69
|
|
|
$
|
1.20
|
|
|
Weighted average shares used in computing net income per share:
|
|
|
|
|
|
|
|
||||||||
|
Basic
|
348
|
|
|
348
|
|
|
348
|
|
|
348
|
|
||||
|
Diluted
|
352
|
|
|
354
|
|
|
353
|
|
|
353
|
|
||||
|
Cash dividends per common share
|
$
|
0.10
|
|
|
$
|
—
|
|
|
$
|
0.10
|
|
|
$
|
0.10
|
|
|
Range of stock prices on NYSE
|
$ 32.51-44.85
|
|
|
$ 39.15-46.28
|
|
|
$ 35.32-43.27
|
|
|
$ 35.38-40.97
|
|
||||
|
2011
|
|
|
|
|
|
|
|
||||||||
|
Net revenue
|
$
|
1,519
|
|
|
$
|
1,677
|
|
|
$
|
1,691
|
|
|
$
|
1,728
|
|
|
Gross profit
|
816
|
|
|
900
|
|
|
892
|
|
|
921
|
|
||||
|
Income from operations
|
211
|
|
|
266
|
|
|
281
|
|
|
313
|
|
||||
|
Net income
|
$
|
193
|
|
|
$
|
200
|
|
|
$
|
330
|
|
|
$
|
289
|
|
|
Net income per share — Basic:
|
$
|
0.56
|
|
|
$
|
0.58
|
|
|
$
|
0.95
|
|
|
$
|
0.83
|
|
|
Net income per share — Diluted:
|
$
|
0.54
|
|
|
$
|
0.56
|
|
|
$
|
0.92
|
|
|
$
|
0.82
|
|
|
Weighted average shares used in computing net income per share:
|
|
|
|
|
|
|
|
||||||||
|
Basic
|
347
|
|
|
347
|
|
|
348
|
|
|
347
|
|
||||
|
Diluted
|
355
|
|
|
355
|
|
|
357
|
|
|
351
|
|
||||
|
Cash dividends per common share
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Range of stock prices on NYSE
|
$ 34.38-44.45
|
|
|
$ 39.94-50.68
|
|
|
$ 41.29-55.33
|
|
|
$ 28.67-42.78
|
|
||||
|
(1) Consolidated financial data includes Dako, acquired on June 21, 2012, and non-recurring tax benefit relating to the U.S. valuation allowance reversal.
|
|||||||||||||||
|
Plan Category
|
Number of Securities
to be Issued upon
Exercise of
Outstanding Options,
Warrants and Rights
|
|
Weighted-average
Exercise Price of
Outstanding
Options,
Warrants and
Rights
|
|
Number of Securities
Remaining Available for
Future Issuance under
Equity Compensation Plans
(Excluding Securities
Reflected in Column
(a))
|
||||
|
|
(a)
|
|
(b)
|
|
(c)
|
||||
|
Equity compensation plans approved by security holders (1)(2)(3)
|
15,597,796
|
|
|
$
|
30
|
|
|
52,317,690
|
|
|
Equity compensation plans not approved by security holders
|
—
|
|
|
—
|
|
|
—
|
|
|
|
Total
|
15,597,796
|
|
|
$
|
30
|
|
|
52,317,690
|
|
|
(1)
|
The number of securities remaining available for future issuance in column (c) includes
35,605,229
shares of common stock authorized and available for issuance under the Agilent Technologies, Inc. Employee Stock Purchase Plan ("423(b)
|
|
(2)
|
We issue securities under our equity compensation plans in forms other than options, warrants or rights. On November 19, 2008 and March 11, 2009, the Board and the stockholders, respectively, approved the Agilent Technologies, Inc. 2009 Stock Plan ("2009 Plan") to replace the company's 1999 Plan and 1999 Non-Employee Director Stock Plan for awards of stock-based incentive compensation to our employees (including officers), directors and consultants. The 2009 Plan provides for the grant of awards in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and performance units with performance-based conditions to vesting or exercisability, and cash awards. The 2009 Plan has a term of ten years.
|
|
(3)
|
We issue securities under our equity compensation plans in forms which do not require a payment by the recipient to us at the time of exercise or vesting, including restricted stock, restricted stock units and performance units. Accordingly, the weighted-average exercise price in column (b) does not take these awards into account.
|
|
(a)
|
The following documents are filed as part of this report:
|
|
1.
|
Financial Statements.
|
|
2.
|
Financial Statement Schedule.
|
|
Column A
|
|
Column B
|
|
Column C
|
|
Column D
|
|
Column E
|
||||||||
|
Description
|
|
Balance at
Beginning of Period |
|
Additions Charged to
Expenses or Other Accounts* |
|
Deductions Credited to Expenses or Other Accounts**
|
|
Balance at
End of Period |
||||||||
|
|
|
(in millions)
|
||||||||||||||
|
2012
|
|
|
|
|
|
|
|
|
||||||||
|
Tax valuation allowance
|
|
$
|
369
|
|
|
$
|
4
|
|
|
$
|
(280
|
)
|
|
$
|
93
|
|
|
2011
|
|
|
|
|
|
|
|
|
||||||||
|
Tax valuation allowance
|
|
$
|
527
|
|
|
$
|
3
|
|
|
$
|
(161
|
)
|
|
$
|
369
|
|
|
2010
|
|
|
|
|
|
|
|
|
||||||||
|
Tax valuation allowance
|
|
$
|
684
|
|
|
$
|
—
|
|
|
$
|
(157
|
)
|
|
$
|
527
|
|
|
3.
|
Exhibits.
|
|
|
|
|
|
Incorporation by Reference
|
|||||||
|
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
|
|
2.1
|
|
|
Master Separation and Distribution Agreement between Hewlett‑Packard and Agilent Technologies, Inc., effective as of August 12, 1999.
|
|
S-1/A
|
|
11/10/1999
|
|
2.1
|
|
|
|
2.2
|
|
|
General Assignment and Assumption Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.2
|
|
|
|
2.3
|
|
|
Master Technology Ownership and License Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.3
|
|
|
|
2.4
|
|
|
Master Patent Ownership and License Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.4
|
|
|
|
2.5
|
|
|
Master Trademark Ownership and License Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.5
|
|
|
|
2.6
|
|
|
ICBD Technology Ownership and License Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.6
|
|
|
|
2.7
|
|
|
Employee Matters Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.7
|
|
|
|
2.8
|
|
|
Tax Sharing Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.8
|
|
|
|
2.9
|
|
|
Master IT Service Level Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.9
|
|
|
|
2.10
|
|
|
Real Estate Matters Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.10
|
|
|
|
2.11
|
|
|
Environmental Matters Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.11
|
|
|
|
2.12
|
|
|
Master Confidential Disclosure Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.12
|
|
|
|
2.13
|
|
|
Indemnification and Insurance Matters Agreement between Hewlett‑Packard and Agilent Technologies, Inc.
|
|
S-1/A
|
|
11/10/1999
|
|
2.13
|
|
|
|
2.14
|
|
|
Non U.S. Plan.
|
|
S-1/A
|
|
11/10/1999
|
|
2.14
|
|
|
|
2.15
|
|
|
Share Purchase Agreement, dated as of August 12, 2005, by and among Agilent Technologies, Inc. and Agilent LED International, Philips Lumileds Holding B.V. and Koninklijke Philips Electronics N.V.
|
|
8-K
|
|
8/15/2005
|
|
2.2
|
|
|
|
2.16
|
|
|
Agreement and Plan of Merger dated as of July 26, 2009, by and among Agilent Technologies, Inc., Cobalt Acquisition Corp. and Varian, Inc.
|
|
10-Q
|
|
9/4/2009
|
|
2.1
|
|
|
|
2.17
|
|
|
Asset Purchase Agreement, dated February 10, 2010, by and between Agilent Technologies, Inc. and JDS Uniphase Corporation (pursuant to Item 601(b)(2) of Regulation S-K, schedules to the Asset Purchase Agreement have been omitted; they will be supplementally provided to the SEC upon request)
|
|
10-Q
|
|
3/10/2010
|
|
2.1
|
|
|
|
3.1
|
|
|
Amended and Restated Certificate of Incorporation.
|
|
S-1
|
|
8/16/1999
|
|
3.1
|
|
|
|
3.2
|
|
|
Amended and Restated Bylaws.
|
|
8-K
|
|
11/20/2012
|
|
3.1
|
|
|
|
4.1
|
|
|
Preferred Stock Rights Agreement between Agilent Technologies, Inc. and Harris Trust and Savings Bank dated as of May 12, 2000.
|
|
8-A12B/A
|
|
5/24/2000
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Incorporation by Reference
|
|||||||
|
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
|
|
4.2
|
|
|
Registration Rights Agreement between Agilent Technologies, Inc. and Credit Suisse First Boston Corporation, J.P. Morgan Securities, Inc. and Salomon Smith Barney, Inc. dated November 27, 2001.
|
|
8-K
|
|
11/27/2001
|
|
99.3
|
|
|
|
4.3
|
|
|
Indenture, dated October 24, 2007, between Agilent Technologies, Inc. and the trustee for the debt securities.
|
|
S-3ASR
|
|
10/24/2007
|
|
4.01
|
|
|
|
4.4
|
|
|
Form of First Supplemental Indenture, dated as of October 29, 2007, between Agilent Technologies, Inc. and U.S. Bank National Association and Form of Global Note for Agilent Technologies, Inc. 6.50% Senior Notes due 2017.
|
|
8-K
|
|
10/26/2007
|
|
4.01
|
|
|
|
4.5
|
|
|
Form of Second Supplemental Indenture, dated as of September 14, 2009, between Agilent Technologies, Inc. and U.S. Bank National Association and Form of Global Note for Agilent Technologies, Inc. 4.45% Senior Notes due 2012.
|
|
8-K
|
|
9/14/2009
|
|
4.01
|
|
|
|
4.6
|
|
|
Form of Third Supplemental Indenture, dated as of September 14, 2009, between the Company and U.S. Bank National Association and Form of Global Note for Agilent Technologies, Inc. 5.50% Senior Notes due 2015.
|
|
8-K
|
|
9/14/2009
|
|
4.02
|
|
|
|
4.7
|
|
|
Fourth Supplemental Indenture, dated as of July 20, 2010, between the Company and U.S. Bank National Association and Form of Global Note for the Company's 2.50% Senior Notes due 2013.
|
|
8-K
|
|
7/20/2010
|
|
4.01
|
|
|
|
4.8
|
|
|
Fifth Supplemental Indenture, dated as of July 20, 2010, between the Company and U.S. Bank National Association and Form of Global Note for the Company's 5.00% Senior Notes due 2020.
|
|
8-K
|
|
7/20/2010
|
|
4.02
|
|
|
|
4.9
|
|
|
Sixth Supplemental Indenture, dated as of September 13, 2012, between the Company and U.S. Bank National Association
|
|
8-K
|
|
9/13/2012
|
|
4.01
|
|
|
|
4.10
|
|
|
Form of Global Note for the Company's 3.20% Senior Notes due 2022 (contained in Exhibit 4.01)
|
|
8-K
|
|
9/13/2012
|
|
4.02
|
|
|
|
10.1
|
|
|
Agilent Technologies, Inc. 1999 Stock Plan (Amendment and Restatement Effective November 14, 2006).*
|
|
10-K
|
|
12/22/2006
|
|
10.8
|
|
|
|
10.2
|
|
|
Form of Award Agreement (U.S.) for grants under the Agilent Technologies, Inc. 1999 Stock Plan.*
|
|
8-K
|
|
11/12/2004
|
|
10.1
|
|
|
|
10.3
|
|
|
Form of Award Agreement (Non-U.S.) for grants under the Agilent Technologies, Inc. 1999 Stock Plan.*
|
|
8-K
|
|
11/12/2004
|
|
10.2
|
|
|
|
10.4
|
|
|
Form of Award Agreement (SAR) for grants under the Agilent Technologies, Inc. 1999 Stock Plan.*
|
|
10-K
|
|
12/21/2004
|
|
10.37
|
|
|
|
10.5
|
|
|
Form of Award Agreement (restricted stock) for grants under the Agilent Technologies, Inc. 1999 Stock Plan.*
|
|
10-K
|
|
12/21/2004
|
|
10.39
|
|
|
|
10.6
|
|
|
Agilent Technologies, Inc. 1999 Stock Plan Stock Award Agreement For Standard Awards Granted to Employees.*
|
|
10-Q
|
|
6/5/2007
|
|
10.3
|
|
|
|
10.7
|
|
|
Agilent Technologies, Inc. 1999 Stock Plan Stock Award Agreement Under The Long-Term Performance Program.*
|
|
10-Q
|
|
6/5/2007
|
|
10.7
|
|
|
|
10.8
|
|
|
Form of Amendment to the Form of Standard Long-Term Performance Program Award Agreement for awards granted under the Agilent Technologies, Inc. Stock Plan during FY07-09 and FY 08-10.*
|
|
10-K
|
|
12/19/2008
|
|
10.22
|
|
|
|
10.9
|
|
|
Form of Standard Long-Term Performance Program Award Agreement for awards granted under the Agilent Technologies, Inc. 1999 Stock Plan.*
|
|
10-K
|
|
12/19/2008
|
|
10.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Incorporation by Reference
|
|||||||
|
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
|
|
10.10
|
|
|
Form of Standard Stock Award Agreement for Restricted Stock Units granted under the Agilent Technologies, Inc. 1999 Stock Plan.*
|
|
10-K
|
|
12/19/2008
|
|
10.24
|
|
|
|
10.11
|
|
|
Form of Stock Award Agreement for awards granted to New Executives under the Agilent Technologies, Inc. 1999 Stock Plan.*
|
|
10-K
|
|
12/19/2008
|
|
10.25
|
|
|
|
10.12
|
|
|
Agilent Technologies, Inc. Employee Stock Purchase Plan (Amended and Restated, effective November 1, 2008).*
|
|
10-Q
|
|
9/5/2008
|
|
10.1
|
|
|
|
10.13
|
|
|
Agilent Technologies, Inc. 1999 Non-Employee Director Stock Plan (Amended and Restated Effective November 14, 2007).*
|
|
10-K
|
|
12/21/2007
|
|
10.23
|
|
|
|
10.14
|
|
|
Form of Stock Option Agreement for grants under the Agilent Technologies, Inc. 1999 Non-Employee Director Stock Plan.*
|
|
8-K
|
|
11/12/2004
|
|
10.3
|
|
|
|
10.15
|
|
|
Form of Stock Option Award Agreement for grants under the Agilent Technologies, Inc. 1999 Non-Employee Director Stock Plan.*
|
|
10-Q
|
|
9/5/2008
|
|
10.2
|
|
|
|
10.16
|
|
|
Agilent Technologies, Inc. 2009 Stock Plan.*
|
|
DEF14A
|
|
1/27/2009
|
|
Appendix A
|
|
|
|
10.17
|
|
|
Form of Stock Option Award Agreement under the 2009 Stock Plan for U.S. Employees (for awards made after October 31, 2010).*
|
|
10‑K
|
|
12/20/2010
|
|
10.17
|
|
|
|
10.18
|
|
|
Form of Stock Option Award Agreement under the 2009 Stock Plan for U.S. Employees.*
|
|
10-K
|
|
12/21/2009
|
|
10.31
|
|
|
|
10.19
|
|
|
Form of Stock Option Award Agreement under the 2009 Stock Plan for non-U.S. Employees (for awards made after October 31, 2010).*
|
|
10‑K
|
|
12/20/2010
|
|
10.19
|
|
|
|
10.20
|
|
|
Form of Stock Option Award Agreement under the 2009 Stock Plan for non-U.S. Employees.*
|
|
10-K
|
|
12/21/2009
|
|
10.32
|
|
|
|
10.21
|
|
|
Form of Stock Award Agreement for Standard Awards granted to Employees (for awards made after October 31, 2010).*
|
|
10‑K
|
|
12/20/2010
|
|
10.21
|
|
|
|
10.22
|
|
|
Form of Stock Award Agreement for Standard Awards granted to Employees.*
|
|
10-K
|
|
12/21/2009
|
|
10.33
|
|
|
|
10.23
|
|
|
Form of New Executive Stock Award Agreement under the 2009 Stock Plan.*
|
|
8-K
|
|
3/25/2009
|
|
10.4
|
|
|
|
10.24
|
|
|
Form of Non-Employee Director Stock Option Award Agreement under the 2009 Stock Plan.*
|
|
8-K
|
|
3/25/2009
|
|
10.5
|
|
|
|
10.25
|
|
|
Form of Long-Term Performance Program Stock Award Agreement under the 2009 Stock Plan.*
|
|
10-K
|
|
12/21/2009
|
|
10.36
|
|
|
|
10.26
|
|
|
Agilent Technologies, Inc. Supplemental Benefit Retirement Plan (Amended and Restated Effective January 1, 2005).*
|
|
10-K
|
|
12/21/2007
|
|
10.25
|
|
|
|
10.27
|
|
|
Agilent Technologies, Inc. Long-Term Performance Program (Amended and Restated through November 1, 2005).*
|
|
10-Q
|
|
3/9/2006
|
|
10.63
|
|
|
|
10.28
|
|
|
Agilent Technologies, Inc. 2005 Deferred Compensation Plan for Non-Employee Directors (Amended and Restated Effective November 18, 2009).*
|
|
10-K
|
|
12/21/2009
|
|
10.39
|
|
|
|
10.29
|
|
|
Agilent Technologies, Inc. 2005 Deferred Compensation Plan (Amended and Restated Effective January 1, 2011).*
|
|
10‑K
|
|
12/20/2010
|
|
10.29
|
|
|
|
10.30
|
|
|
Agilent Technologies, Inc. 2005 Deferred Compensation Plan (Amended and Restated Effective October 28, 2009).*
|
|
10-K
|
|
12/21/2009
|
|
10.40
|
|
|
|
10.31
|
|
|
Agilent Technologies, Inc. 2010 Performance‑Based Compensation Plan for Covered Employees.
|
|
10‑K
|
|
12/20/2010
|
|
10.31
|
|
|
|
|
|
|
|
Incorporation by Reference
|
|||||||
|
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
|
|
10.32
|
|
|
Agilent Technologies, Inc. Performance‑Based Compensation Plan for Covered Employees (Amended and Restated December 18, 2008).*
|
|
10-K
|
|
12/19/2008
|
|
10.34
|
|
|
|
10.33
|
|
|
Form of Indemnification Agreement entered into by Agilent Technologies, Inc. with each of its directors and board‑appointed officers.*
|
|
S-1
|
|
8/16/1999
|
|
10.9
|
|
|
|
10.34
|
|
|
Form of Amended and Restated Indemnification Agreement between Agilent Technologies, Inc. and Directors of the Company, Section 16 Officers and Board‑elected Officers of the Company.*
|
|
8-K
|
|
4/10/2008
|
|
10.1
|
|
|
|
10.35
|
|
|
Form of Amended and Restated Change of Control Severance Agreement between Agilent Technologies, Inc. and the Chief Executive Officer.*
|
|
8-K
|
|
4/10/2008
|
|
10.2
|
|
|
|
10.36
|
|
|
Form of Amended and Restated Change of Control Severance Agreement between Agilent Technologies, Inc. and Section 16 Officers (other than the Company's Chief Executive Officer).*
|
|
8-K
|
|
4/10/2008
|
|
10.3
|
|
|
|
10.37
|
|
|
Form of Amended and Restated Change of Control Severance Agreement between Agilent Technologies, Inc. and specified executives of the Company.*
|
|
8-K
|
|
4/10/2008
|
|
10.4
|
|
|
|
10.38
|
|
|
Form of New Section 16 Officer Change of Control Severance Agreement between Agilent Technologies, Inc. and Section 16 Officers (other than the Company's Chief Executive Officer) (for executives hired, elected or promoted after July 14, 2009).*
|
|
8-K
|
|
9/28/2009
|
|
10.1
|
|
|
|
10.39
|
|
|
Form of New Executive Officer Change of Control Severance Agreement between Agilent Technologies, Inc. and specified executives of the Company (for executives hired, elected or promoted after July 14, 2009).*
|
|
10-K
|
|
12/21/2009
|
|
10.50
|
|
|
|
10.40
|
|
|
Form of Change of Control Severance Agreement between Agilent Technologies, Inc. and certain other executive officers.*
|
|
10-K
|
|
12/21/2007
|
|
10.79
|
|
|
|
10.41
|
|
|
Master Separation and Distribution Agreement between Agilent Technologies, Inc. and Verigy Ltd., dated as of May 31, 2006.
|
|
10-Q
|
|
6/6/2006
|
|
10.66
|
|
|
|
10.42
|
|
|
General Assignment and Assumption Agreement between Agilent Technologies, Inc. and Verigy Ltd., dated as of June 1, 2006.
|
|
10-Q
|
|
6/6/2006
|
|
10.67
|
|
|
|
10.43
|
|
|
Intellectual Property Matters Agreement between Agilent Technologies, Inc., Verigy Ltd., and Verigy (Singapore) Pte. Ltd., dated as of June 1, 2006.
|
|
10-Q
|
|
6/6/2006
|
|
10.68
|
|
|
|
10.44
|
|
|
Tax Sharing Agreement by and between Agilent Technologies, Inc. and Verigy Ltd., dated as of June 1, 2006.
|
|
10-Q
|
|
6/6/2006
|
|
10.70
|
|
|
|
10.45
|
|
|
Five-Year Credit Agreement, dated October 20, 2011, by and among Agilent Technologies, Inc., the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administration Agent and J.P. Morgan Europe Limited, as London Agent.
|
|
8-K
|
|
10/25/2011
|
|
10.1
|
|
|
|
10.46
|
|
|
Underwriting Agreement, dated October 24, 2007, by and among Agilent Technologies, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc., on behalf of the several underwriters named therein.
|
|
8-K
|
|
10/26/2007
|
|
1.01
|
|
|
|
10.47
|
|
|
Underwriting Agreement, dated September 9, 2009, by and among the Company, Barclays Capital Inc., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC, on behalf of the several underwriters named therein.
|
|
8-K
|
|
9/14/2009
|
|
1.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Incorporation by Reference
|
|||||||
|
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
|
|
10.48
|
|
|
Underwriting Agreement, dated July 13, 2010, by and among the Company, Banc of America Securities LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC, on behalf of the several underwriters named therein.
|
|
8-K
|
|
7/19/2010
|
|
1.01
|
|
|
|
10.49
|
|
|
Underwriting Agreement, dated September 10, 2012, by and among the Company, Barclays Capital Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, on behalf of the several underwriters named therein
|
|
8-K
|
|
9/13/2012
|
|
1.01
|
|
|
|
10.5
|
|
|
Share Purchase Agreement by and among Delphi S.a.r.l., Agilent Technologies Europe B.V. and Agilent Technologies, Inc., dated May 16, 2012.
|
|
8-K
|
|
5/22/2012
|
|
10.1
|
|
|
|
11.1
|
|
|
See Note 6, “Net Income Per Share”, to our Consolidated Financial Statements on page 80.
|
|
|
|
|
|
|
|
X
|
|
12.1
|
|
|
Computation of ratio of earnings to fixed charges.
|
|
|
|
|
|
|
|
X
|
|
14.1
|
|
|
See Investor Information in Item 1: Business on page 3 of this Annual Report on Form 10-K.
|
|
|
|
|
|
|
|
X
|
|
21.1
|
|
|
Significant subsidiaries of Agilent Technologies, Inc. as of October 31, 2012.
|
|
|
|
|
|
|
|
X
|
|
23.1
|
|
|
Consent of Independent Registered Public Accounting Firm.
|
|
|
|
|
|
|
|
X
|
|
24.1
|
|
|
Powers of Attorney. Contained in the signature page of this Annual Report on Form 10-K.
|
|
|
|
|
|
|
|
X
|
|
31.1
|
|
|
Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes‑Oxley Act of 2002.
|
|
|
|
|
|
|
|
X
|
|
31.2
|
|
|
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes‑Oxley Act of 2002.
|
|
|
|
|
|
|
|
X
|
|
32.1
|
|
|
Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes‑Oxley Act of 2002.
|
|
|
|
|
|
|
|
X
|
|
32.2
|
|
|
Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes‑Oxley Act of 2002.
|
|
|
|
|
|
|
|
X
|
|
101.INS
|
|
|
XBRL Instance Document.
|
|
|
|
|
|
|
|
X
|
|
101.SCH
|
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
|
|
|
|
X
|
|
101.CAL
|
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
|
|
|
|
X
|
|
101.LAB
|
|
|
XBRL Taxonomy Extension Label Linkbase Document.
|
|
|
|
|
|
|
|
X
|
|
101.PRE
|
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
|
|
|
|
|
|
|
X
|
|
101.DEF
|
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
|
|
|
|
|
|
X
|
|
*
|
Indicates management contract or compensatory plan, contract or arrangement.
|
|
|
|
AGILENT TECHNOLOGIES, INC.
|
||
|
|
|
|
|
|
|
|
|
BY
|
|
/s/ MARIE OH HUBER
|
|
|
|
|
|
Marie Oh Huber
|
|
|
|
|
|
Senior Vice President,
|
|
|
|
|
|
General Counsel and Secretary
|
|
Signature
|
|
Title
|
|
Date
|
|
|
|
|
|
|
|
/s/ WILLIAM P. SULLIVAN
|
|
Director and Chief Executive Officer
|
|
December 20, 2012
|
|
William P. Sullivan
|
|
(Principal Executive Officer)
|
|
|
|
|
|
|
|
|
|
/s/ DIDIER HIRSCH
|
|
Senior Vice President and Chief Financial Officer
|
|
December 20, 2012
|
|
Didier Hirsch
|
|
(Principal Financial Officer)
|
|
|
|
|
|
|
|
|
|
/s/ SOLANGE GLAIZE
|
|
Vice President, Corporate Controllership
|
|
December 20, 2012
|
|
Solange Glaize
|
|
(Principal Accounting Officer)
|
|
|
|
|
|
|
|
|
|
/s/ JAMES G. CULLEN
|
|
Chairman of the Board of Directors
|
|
December 20, 2012
|
|
James G. Cullen
|
|
|
|
|
|
|
|
|
|
|
|
/s/ PAUL N. CLARK
|
|
Director
|
|
December 20, 2012
|
|
Paul N. Clark
|
|
|
|
|
|
|
|
|
|
|
|
/s/ HEIDI FIELDS
|
|
Director
|
|
December 20, 2012
|
|
Heidi Fields
|
|
|
|
|
|
|
|
|
|
|
|
/s/ ROBERT J. HERBOLD
|
|
Director
|
|
December 20, 2012
|
|
Robert J. Herbold
|
|
|
|
|
|
|
|
|
|
|
|
/s/ KOH BOON HWEE
|
|
Director
|
|
December 20, 2012
|
|
Koh Boon Hwee
|
|
|
|
|
|
|
|
|
|
|
|
/s/ DAVID M. LAWRENCE, M.D.
|
|
Director
|
|
December 20, 2012
|
|
David M. Lawrence, M.D.
|
|
|
|
|
|
|
|
|
|
|
|
/s/ A. BARRY RAND
|
|
Director
|
|
December 20, 2012
|
|
A. Barry Rand
|
|
|
|
|
|
|
|
|
|
|
|
/s/ TADATAKA YAMADA, M.D.
|
|
Director
|
|
December 20, 2012
|
|
Tadataka Yamada, M.D.
|
|
|
|
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|