Property, plant and equipment as of October 31, 2025 and 2024, consisted of the following:
 October 31,
 20252024
 (in millions)
Land$69 $69 
Buildings and leasehold improvements2,056 1,786 
Machinery and equipment1,037 960 
Software284 267 
Total property, plant and equipment3,446 3,082 
Accumulated depreciation and amortization(1,423)(1,304)
Property, plant and equipment, net$2,023 $1,778 

Historical Timeline

Fiscal YearFiled
2025Dec 22, 2025Showing above
2024Dec 20, 2024
2023Dec 20, 2023
2022Dec 21, 2022
2021Dec 17, 2021
2020Dec 18, 2020
2019Dec 19, 2019
2018Dec 20, 2018
2017Dec 21, 2017
2016Dec 20, 2016
2015Dec 21, 2015

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.