(Mark One)
|
||
x
|
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
For the fiscal year ended October 31, 2018
|
or
|
||
o
|
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
For the transition period from to
|
Delaware
|
|
77-0518772
|
State or other jurisdiction of
Incorporation or organization
|
|
I.R.S. Employer
Identification No.
|
Title of each class
|
|
Name of each exchange on which registered
|
Common Stock
par value $0.01 per share
|
|
New York Stock Exchange
|
Large accelerated filer
x
|
|
Accelerated filer
¨
|
|
Smaller reporting company
¨
|
|
Emerging growth company
¨
|
Non-accelerated filer
¨
|
|
|
|
|
|
|
Document Description
|
|
10-K Part
|
Portions of the Proxy Statement for the Annual Meeting of Stockholders (the "Proxy Statement") to be held on March 20, 2019, and to be filed pursuant to Regulation 14A within 120 days after registrant's fiscal year ended October 31, 2018 are incorporated by reference into Part III of this Report
|
|
III
|
|
|
Page
|
|
||
|
||
|
||
|
||
•
|
properly identify customer needs and predict future needs;
|
•
|
innovate and develop new technologies, services and applications;
|
•
|
appropriately allocate our research and development spending to products and services with higher growth prospects;
|
•
|
successfully commercialize new technologies in a timely manner;
|
•
|
manufacture and deliver new products in sufficient volumes and on time;
|
•
|
differentiate our offerings from our competitors' offerings;
|
•
|
price our products competitively;
|
•
|
anticipate our competitors' development of new products, services or technological innovations; and
|
•
|
control product quality in our manufacturing process.
|
•
|
reduced demand for our products, delays in the shipment of orders, or increases in order cancellations;
|
•
|
increased risk of excess and obsolete inventories;
|
•
|
increased price pressure for our products and services; and
|
•
|
greater risk of impairment to the value, and a detriment to the liquidity, of our investment portfolio.
|
•
|
interruption to transportation flows for delivery of parts to us and finished goods to our customers;
|
•
|
changes in a specific country's or region's political, economic or other conditions;
|
•
|
changes in diplomatic and trade relationships, including new tariffs, trade protection measures, import or export licensing requirements, new or different customs duties trade embargoes and sanctions and other trade barriers;
|
•
|
tariffs imposed by the U.S. on goods from other countries and tariffs imposed by other countries on U.S. goods, including the tariffs recently enacted and proposed by the U.S. government on various imports from China and by the Chinese government on certain U.S. goods, the scope and duration of which, if implemented, remains uncertain;
|
•
|
negative consequences from changes in tax laws;
|
•
|
difficulty in staffing and managing widespread operations;
|
•
|
differing labor regulations;
|
•
|
differing protection of intellectual property;
|
•
|
unexpected changes in regulatory requirements; and
|
•
|
geopolitical uncertainty or turmoil, including terrorism and war.
|
•
|
increasing our vulnerability to downturns in our business, to competitive pressures and to adverse economic and industry conditions;
|
•
|
requiring the dedication of an increased portion of our expected cash flows from operations to service our indebtedness, thereby reducing the amount of expected cash flows available for other purposes, including capital expenditures, acquisitions, stock repurchases and dividends; and
|
•
|
limiting our flexibility in planning for, or reacting to, changes in our business and our industry.
|
|
|
|
INDEXED RETURNS
|
|
|||||||
|
Base
|
|
Years Ending
|
|
|
||||||
|
Period
|
|
|
|
|
|
|||||
Company Name / Index
|
10/31/2013
|
10/31/2014
|
|
10/31/2015
|
|
10/31/2016
|
|
10/31/2017
|
|
10/31/2018
|
|
Agilent Technologies
|
100
|
109.93
|
|
104.32
|
|
121.65
|
|
191.77
|
|
184.30
|
|
S&P 500
|
100
|
117.27
|
|
123.37
|
|
128.93
|
|
159.40
|
|
171.11
|
|
Peer Group
|
100
|
125.48
|
|
134.19
|
|
130.32
|
|
160.31
|
|
174.07
|
|
Period
|
|
Total Number of
Shares of Common
Stock Purchased(1)
|
|
Weighted Average
Price Paid per Share of
Common Stock(2)
|
|
Total
Number of
Shares of Common
Stock Purchased as
Part of Publicly
Announced Plans or
Programs(1)
|
|
Maximum
Approximate Dollar
Value of Shares of
Common Stock that
May Yet Be
Purchased Under the
Plans or Programs
(in millions)(1)
|
||||||
|
|
|
|
|
|
|
|
|
||||||
Aug. 1, 2018 through
Aug. 31, 2018 |
|
241,748
|
|
|
66.07
|
|
|
241,748
|
|
|
$
|
258
|
|
|
Sep. 1, 2018 through
Sep. 30, 2018 |
|
202,400
|
|
|
69.04
|
|
|
202,400
|
|
|
$
|
244
|
|
|
Oct. 1, 2018 through
Oct. 31, 2018 |
|
881,462
|
|
|
$
|
63.93
|
|
|
881,462
|
|
|
$
|
188
|
|
Total
|
|
1,325,610
|
|
|
$
|
65.10
|
|
|
1,325,610
|
|
|
|
|
(1)
|
On May 28, 2015, we announced that our board of directors had approved a new share repurchase program (the "2015 repurchase program"). The 2015 repurchase program authorizes the purchase of up to $1.14 billion of our common stock through and including November 1, 2018. The 2015 repurchase program does not require the company to acquire a specific number of shares and may be suspended or discontinued at any time. As of
October 31, 2018
, all repurchased shares have been retired. The remaining authorization of $188 million expired on November 1, 2018.
|
(2)
|
The weighted average price paid per share of common stock does not include the cost of commissions.
|
|
Years Ended October 31,
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2015
|
|
2014
|
||||||||||
|
(in millions, except per share data)
|
||||||||||||||||||
Consolidated Statement of Operations Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net revenue
|
$
|
4,914
|
|
|
$
|
4,472
|
|
|
$
|
4,202
|
|
|
$
|
4,038
|
|
|
$
|
4,048
|
|
Income from continuing operations before taxes
|
$
|
946
|
|
|
$
|
803
|
|
|
$
|
544
|
|
|
$
|
480
|
|
|
$
|
229
|
|
Income from continuing operations
|
$
|
316
|
|
|
$
|
684
|
|
|
$
|
462
|
|
|
$
|
438
|
|
|
$
|
232
|
|
Income (loss) from discontinued operations, net of taxes
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(37
|
)
|
|
$
|
317
|
|
Net income
|
$
|
316
|
|
|
$
|
684
|
|
|
$
|
462
|
|
|
$
|
401
|
|
|
$
|
549
|
|
Net income per share — basic:
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations
|
$
|
0.98
|
|
|
$
|
2.12
|
|
|
$
|
1.42
|
|
|
$
|
1.32
|
|
|
$
|
0.70
|
|
Income (loss) from discontinued operations, net of taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.12
|
)
|
|
0.95
|
|
|||||
Net income per share - basic
|
$
|
0.98
|
|
|
$
|
2.12
|
|
|
$
|
1.42
|
|
|
$
|
1.20
|
|
|
$
|
1.65
|
|
Net income per share — diluted:
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations
|
$
|
0.97
|
|
|
$
|
2.10
|
|
|
$
|
1.40
|
|
|
$
|
1.31
|
|
|
$
|
0.69
|
|
Income (loss) from discontinued operations, net of taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.11
|
)
|
|
0.93
|
|
|||||
Net income per share - diluted
|
$
|
0.97
|
|
|
$
|
2.10
|
|
|
$
|
1.40
|
|
|
$
|
1.20
|
|
|
$
|
1.62
|
|
Weighted average shares used in computing basic net income per share
|
321
|
|
|
322
|
|
|
326
|
|
|
333
|
|
|
333
|
|
|||||
Weighted average shares used in computing diluted net income per share
|
325
|
|
|
326
|
|
|
329
|
|
|
335
|
|
|
338
|
|
|||||
Cash dividends declared per common share
|
$
|
0.596
|
|
|
$
|
0.528
|
|
|
0.460
|
|
|
$
|
0.400
|
|
|
$
|
0.528
|
|
|
October 31,
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2015
|
|
2014
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Consolidated Balance Sheet Data:
|
|
|
|
|
|
|
|
|
(1)
|
||||||||||
Cash and cash equivalents
|
$
|
2,247
|
|
|
$
|
2,678
|
|
|
$
|
2,289
|
|
|
$
|
2,003
|
|
|
$
|
2,218
|
|
Working capital
|
$
|
2,677
|
|
|
$
|
2,906
|
|
|
$
|
2,690
|
|
|
$
|
2,710
|
|
|
$
|
3,817
|
|
Total assets
|
$
|
8,541
|
|
|
$
|
8,426
|
|
|
$
|
7,794
|
|
|
$
|
7,479
|
|
|
$
|
10,815
|
|
Long-term debt
|
$
|
1,799
|
|
|
$
|
1,801
|
|
|
$
|
1,904
|
|
|
$
|
1,655
|
|
|
$
|
1,663
|
|
Stockholders' equity
|
$
|
4,567
|
|
|
$
|
4,831
|
|
|
$
|
4,243
|
|
|
$
|
4,167
|
|
|
$
|
5,301
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
(1) The above consolidated balance sheet includes Keysight which is presented as a discontinued operation until October 31, 2014.
|
|
Years Ended October 31,
|
|
2018 over 2017
% Change |
|
2017 over 2016 % Change
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
|
|||||||||
|
(in millions)
|
|
|
|
|
||||||||||
Net revenue:
|
|
|
|
|
|
|
|
|
|
||||||
Products
|
$
|
3,746
|
|
|
$
|
3,397
|
|
|
$
|
3,213
|
|
|
10%
|
|
6%
|
Services and other
|
$
|
1,168
|
|
|
$
|
1,075
|
|
|
$
|
989
|
|
|
9%
|
|
9%
|
Total net revenue
|
$
|
4,914
|
|
|
$
|
4,472
|
|
|
$
|
4,202
|
|
|
10%
|
|
6%
|
|
Years Ended October 31,
|
|
2018 over 2017
ppts Change |
|
2017 over 2016
ppts Change |
|||||||
|
2018
|
|
2017
|
|
2016
|
|
||||||
% of total net revenue:
|
|
|
|
|
|
|
|
|
|
|||
Products
|
76
|
%
|
|
76
|
%
|
|
76
|
%
|
|
—
|
|
—
|
Services and other
|
24
|
%
|
|
24
|
%
|
|
24
|
%
|
|
—
|
|
—
|
Total
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
Years Ended October 31,
|
|
2018 over 2017
% Change |
|
2017 over 2016 % Change
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
|
|||||||||
|
(in millions)
|
|
|
|
|
||||||||||
Net revenue by segment:
|
|
|
|
|
|
|
|
|
|
||||||
Life sciences and applied markets
|
$
|
2,270
|
|
|
$
|
2,081
|
|
|
$
|
1,992
|
|
|
9%
|
|
4%
|
Diagnostics and genomics
|
$
|
943
|
|
|
$
|
860
|
|
|
$
|
790
|
|
|
10%
|
|
9%
|
Agilent CrossLab
|
$
|
1,701
|
|
|
$
|
1,531
|
|
|
$
|
1,420
|
|
|
11%
|
|
8%
|
Total net revenue
|
$
|
4,914
|
|
|
$
|
4,472
|
|
|
$
|
4,202
|
|
|
10%
|
|
6%
|
|
Years Ended October 31,
|
|
2018 over 2017
Change |
|
2017 over 2016
Change |
|||||||
|
2018
|
|
2017
|
|
2016
|
|
||||||
Gross margin on products
|
57.6
|
%
|
|
57.0
|
%
|
|
54.7
|
%
|
|
1 ppt
|
|
2 ppts
|
Gross margin on services and other
|
45.3
|
%
|
|
44.1
|
%
|
|
44.6
|
%
|
|
1 ppt
|
|
—
|
Total gross margin
|
54.7
|
%
|
|
53.9
|
%
|
|
52.3
|
%
|
|
1 ppt
|
|
2 ppts
|
Operating margin
|
18.9
|
%
|
|
18.8
|
%
|
|
14.6
|
%
|
|
—
|
|
4 ppts
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
Research and development
|
$
|
385
|
|
|
$
|
339
|
|
|
$
|
329
|
|
|
14%
|
|
3%
|
Selling, general and administrative
|
$
|
1,374
|
|
|
$
|
1,229
|
|
|
$
|
1,253
|
|
|
12%
|
|
(2)%
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Provision for income taxes
|
$
|
630
|
|
|
$
|
119
|
|
|
$
|
82
|
|
|
Years Ended October 31,
|
|
2018 over 2017
Change |
|
2017 over 2016
Change |
||||||||||
|
2018
|
|
2017
|
|
2016
|
|
|||||||||
|
(in millions)
|
|
|
|
|
||||||||||
Net revenue
|
$
|
2,270
|
|
|
$
|
2,081
|
|
|
$
|
1,992
|
|
|
9%
|
|
4%
|
|
Years Ended October 31,
|
|
2018 over 2017
Change |
|
2017 over 2016
Change |
|||||||
|
2018
|
|
2017
|
|
2016
|
|
||||||
Total gross margin
|
61.3
|
%
|
|
60.2
|
%
|
|
58.8
|
%
|
|
1 ppt
|
|
1 ppt
|
Operating margin
|
24.1
|
%
|
|
22.5
|
%
|
|
20.7
|
%
|
|
2 ppts
|
|
2 ppts
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
Research and development
|
$
|
219
|
|
|
$
|
201
|
|
|
$
|
191
|
|
|
9%
|
|
5%
|
Selling, general and administrative
|
$
|
625
|
|
|
$
|
585
|
|
|
$
|
569
|
|
|
7%
|
|
3%
|
Income from operations
|
$
|
547
|
|
|
$
|
468
|
|
|
$
|
412
|
|
|
17%
|
|
14%
|
|
Years Ended October 31,
|
|
2018 over 2017
Change |
|
2017 over 2016
Change |
||||||||||
|
2018
|
|
2017
|
|
2016
|
|
|||||||||
|
(in millions)
|
|
|
|
|
||||||||||
Net revenue
|
$
|
943
|
|
|
$
|
860
|
|
|
$
|
790
|
|
|
10%
|
|
9%
|
|
Years Ended October 31,
|
|
2018 over 2017
Change |
|
2017 over 2016
Change |
|||||||
|
2018
|
|
2017
|
|
2016
|
|
||||||
Total gross margin
|
56.5
|
%
|
|
55.2
|
%
|
|
54.5
|
%
|
|
1 ppt
|
|
1 ppt
|
Operating margin
|
18.9
|
%
|
|
19.5
|
%
|
|
16.6
|
%
|
|
(1) ppt
|
|
3 ppts
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
Research and development
|
$
|
109
|
|
|
$
|
89
|
|
|
$
|
87
|
|
|
22%
|
|
2%
|
Selling, general and administrative
|
$
|
246
|
|
|
$
|
218
|
|
|
$
|
212
|
|
|
13%
|
|
3%
|
Income from operations
|
$
|
178
|
|
|
$
|
168
|
|
|
$
|
131
|
|
|
6%
|
|
28%
|
|
Years Ended October 31,
|
|
2018 over 2017
Change |
|
2017 over 2016
Change |
||||||||||
|
2018
|
|
2017
|
|
2016
|
|
|||||||||
|
(in millions)
|
|
|
|
|
||||||||||
Total net revenue
|
$
|
1,701
|
|
|
$
|
1,531
|
|
|
$
|
1,420
|
|
|
11%
|
|
8%
|
|
Years Ended October 31,
|
|
2018 over 2017
Change |
|
2017 over 2016
Change |
|||||||
|
2018
|
|
2017
|
|
2016
|
|
||||||
Total gross margin
|
50.7
|
%
|
|
49.5
|
%
|
|
49.4
|
%
|
|
1 ppt
|
|
—
|
Operating margin
|
23.3
|
%
|
|
22.1
|
%
|
|
22.3
|
%
|
|
1 ppt
|
|
—
|
(in millions)
|
|
|
|
|
|
|
|
|
|
||||||
Research and development
|
$
|
55
|
|
|
$
|
49
|
|
|
$
|
46
|
|
|
12%
|
|
7%
|
Selling, general and administrative
|
$
|
410
|
|
|
$
|
370
|
|
|
$
|
339
|
|
|
11%
|
|
9%
|
Income from operations
|
$
|
397
|
|
|
$
|
338
|
|
|
$
|
316
|
|
|
17%
|
|
7%
|
|
Less than one
year
|
|
One to three years
|
|
Three to five years
|
|
More than five years
|
||||||||
Operating leases
|
$
|
42
|
|
|
$
|
58
|
|
|
$
|
23
|
|
|
$
|
57
|
|
Commitments to contract manufacturers and suppliers
|
412
|
|
|
2
|
|
|
—
|
|
|
—
|
|
||||
Other purchase commitments
|
80
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Retirement plans
|
23
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transitional pension contributions to our U.S. 401(k) plan
|
$
|
7
|
|
|
$
|
15
|
|
|
$
|
3
|
|
|
$
|
—
|
|
Total
|
$
|
564
|
|
|
$
|
75
|
|
|
$
|
26
|
|
|
$
|
57
|
|
|
Less than one
year
|
|
One to three years
|
|
Three to five years
|
|
More than five years
|
||||||||
Senior notes
|
$
|
—
|
|
|
$
|
500
|
|
|
$
|
1,000
|
|
|
$
|
300
|
|
Credit facility
(1)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Interest expense
|
70
|
|
|
116
|
|
|
79
|
|
|
27
|
|
||||
Transition tax
(2)
|
34
|
|
|
68
|
|
|
68
|
|
|
256
|
|
||||
Total
|
$
|
104
|
|
|
$
|
684
|
|
|
$
|
1,147
|
|
|
$
|
583
|
|
Index to Consolidated Financial Statements
|
|
Page
|
|
|
|
Consolidated Financial Statements:
|
|
|
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
/s/ PRICEWATERHOUSECOOPERS LLP
|
|
|
|
San Jose, California
|
|
December 20, 2018
|
|
|
|
We have served as the Company’s auditor since 1999.
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions, except per
share data)
|
||||||||||
Net revenue:
|
|
|
|
|
|
||||||
Products
|
$
|
3,746
|
|
|
$
|
3,397
|
|
|
$
|
3,213
|
|
Services and other
|
1,168
|
|
|
1,075
|
|
|
989
|
|
|||
Total net revenue
|
4,914
|
|
|
4,472
|
|
|
4,202
|
|
|||
Costs and expenses:
|
|
|
|
|
|
||||||
Cost of products
|
1,588
|
|
|
1,462
|
|
|
1,457
|
|
|||
Cost of services and other
|
639
|
|
|
601
|
|
|
548
|
|
|||
Total costs
|
2,227
|
|
|
2,063
|
|
|
2,005
|
|
|||
Research and development
|
385
|
|
|
339
|
|
|
329
|
|
|||
Selling, general and administrative
|
1,374
|
|
|
1,229
|
|
|
1,253
|
|
|||
Total costs and expenses
|
3,986
|
|
|
3,631
|
|
|
3,587
|
|
|||
Income from operations
|
928
|
|
|
841
|
|
|
615
|
|
|||
Interest income
|
38
|
|
|
22
|
|
|
11
|
|
|||
Interest expense
|
(75
|
)
|
|
(79
|
)
|
|
(72
|
)
|
|||
Other income (expense), net
|
55
|
|
|
19
|
|
|
(10
|
)
|
|||
Income before taxes
|
946
|
|
|
803
|
|
|
544
|
|
|||
Provision for income taxes
|
630
|
|
|
119
|
|
|
82
|
|
|||
Net income
|
$
|
316
|
|
|
$
|
684
|
|
|
$
|
462
|
|
|
|
|
|
|
|
||||||
Net income per share:
|
|
|
|
|
|
||||||
Basic
|
$
|
0.98
|
|
|
$
|
2.12
|
|
|
$
|
1.42
|
|
Diluted
|
$
|
0.97
|
|
|
$
|
2.10
|
|
|
$
|
1.40
|
|
|
|
|
|
|
|
||||||
Weighted average shares used in computing net income per share:
|
|
|
|
|
|
||||||
Basic
|
321
|
|
|
322
|
|
|
326
|
|
|||
Diluted
|
325
|
|
|
326
|
|
|
329
|
|
|||
|
|
|
|
|
|
||||||
Cash dividends declared per common share
|
$
|
0.596
|
|
|
$
|
0.528
|
|
|
$
|
0.460
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
|
|
|
|
|
||||||
Net income
|
$
|
316
|
|
|
$
|
684
|
|
|
$
|
462
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
||||||
Gain (loss) on derivative instruments, net of tax expense (benefit) of $1, $0 and $(4)
|
6
|
|
|
—
|
|
|
(6
|
)
|
|||
Amounts reclassified into earnings related to derivative instruments, net of tax expense of $1, $0 and $0
|
3
|
|
|
(1
|
)
|
|
3
|
|
|||
Foreign currency translation, net of tax expense of $7, $3 and $3
|
(58
|
)
|
|
41
|
|
|
(8
|
)
|
|||
Net defined benefit pension cost and post retirement plan costs:
|
|
|
|
|
|
||||||
Change in actuarial net loss, net of tax expense (benefit) of $(3), $52, and $(42)
|
(7
|
)
|
|
123
|
|
|
(86
|
)
|
|||
Change in net prior service benefit, net of tax benefit of $(2), $(3), and $(8)
|
(6
|
)
|
|
(6
|
)
|
|
(15
|
)
|
|||
Other comprehensive income (loss)
|
(62
|
)
|
|
157
|
|
|
(112
|
)
|
|||
Total comprehensive income
|
$
|
254
|
|
|
$
|
841
|
|
|
$
|
350
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions, except
par value and
share data)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
2,247
|
|
|
$
|
2,678
|
|
Accounts receivable, net
|
776
|
|
|
724
|
|
||
Inventory
|
638
|
|
|
575
|
|
||
Other current assets
|
187
|
|
|
192
|
|
||
Total current assets
|
3,848
|
|
|
4,169
|
|
||
Property, plant and equipment, net
|
822
|
|
|
757
|
|
||
Goodwill
|
2,973
|
|
|
2,607
|
|
||
Other intangible assets, net
|
491
|
|
|
361
|
|
||
Long-term investments
|
68
|
|
|
138
|
|
||
Other assets
|
339
|
|
|
394
|
|
||
Total assets
|
$
|
8,541
|
|
|
$
|
8,426
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
340
|
|
|
$
|
305
|
|
Employee compensation and benefits
|
304
|
|
|
276
|
|
||
Deferred revenue
|
324
|
|
|
291
|
|
||
Short-term debt
|
—
|
|
|
210
|
|
||
Other accrued liabilities
|
203
|
|
|
181
|
|
||
Total current liabilities
|
1,171
|
|
|
1,263
|
|
||
Long-term debt
|
1,799
|
|
|
1,801
|
|
||
Retirement and post-retirement benefits
|
239
|
|
|
234
|
|
||
Other long-term liabilities
|
761
|
|
|
293
|
|
||
Total liabilities
|
3,970
|
|
|
3,591
|
|
||
Commitments and contingencies (Note 14)
|
|
|
|
|
|
||
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; 318 million shares at October 31, 2018 and 322 million shares at October 31, 2017 issued
|
3
|
|
|
3
|
|
||
Additional paid-in-capital
|
5,308
|
|
|
5,300
|
|
||
Accumulated deficit
|
(336
|
)
|
|
(126
|
)
|
||
Accumulated other comprehensive loss
|
(408
|
)
|
|
(346
|
)
|
||
Total stockholders' equity
|
4,567
|
|
|
4,831
|
|
||
Non-controlling interest
|
4
|
|
|
4
|
|
||
Total equity
|
4,571
|
|
|
4,835
|
|
||
Total liabilities and equity
|
$
|
8,541
|
|
|
$
|
8,426
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
$
|
316
|
|
|
$
|
684
|
|
|
$
|
462
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
210
|
|
|
212
|
|
|
246
|
|
|||
Share-based compensation
|
70
|
|
|
60
|
|
|
58
|
|
|||
Deferred taxes
|
(16
|
)
|
|
102
|
|
|
3
|
|
|||
Excess and obsolete inventory related charges
|
26
|
|
|
24
|
|
|
20
|
|
|||
Gain on step acquisition
|
(20
|
)
|
|
—
|
|
|
—
|
|
|||
Asset impairment charges
|
21
|
|
|
—
|
|
|
4
|
|
|||
Impairment of equity method investment and loans
|
—
|
|
|
—
|
|
|
25
|
|
|||
Other
|
9
|
|
|
7
|
|
|
15
|
|
|||
Changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable, net
|
(65
|
)
|
|
(81
|
)
|
|
(33
|
)
|
|||
Inventory
|
(83
|
)
|
|
(61
|
)
|
|
(7
|
)
|
|||
Accounts payable
|
40
|
|
|
2
|
|
|
(15
|
)
|
|||
Employee compensation and benefits
|
31
|
|
|
38
|
|
|
15
|
|
|||
Changes in assets and liabilities due to Tax Act
|
552
|
|
|
—
|
|
|
—
|
|
|||
Interest rate swap payments
|
—
|
|
|
—
|
|
|
(10
|
)
|
|||
Other assets and liabilities
|
(4
|
)
|
|
(98
|
)
|
|
10
|
|
|||
Net cash provided by operating activities
|
1,087
|
|
|
889
|
|
|
793
|
|
|||
Cash flows from investing activities:
|
|
|
|
|
|
||||||
Investments in property, plant and equipment
|
(177
|
)
|
|
(176
|
)
|
|
(139
|
)
|
|||
Proceeds from the sale of property, plant and equipment
|
1
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from the sale of investment securities
|
—
|
|
|
—
|
|
|
1
|
|
|||
Proceeds from divestitures
|
—
|
|
|
2
|
|
|
—
|
|
|||
Payment to acquire cost method investment
|
(11
|
)
|
|
(1
|
)
|
|
(80
|
)
|
|||
Payment in exchange for convertible note
|
(2
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|||
Loan to equity method investment
|
—
|
|
|
—
|
|
|
(3
|
)
|
|||
Change in restricted cash, cash equivalents and investments, net
|
1
|
|
|
(1
|
)
|
|
245
|
|
|||
Acquisitions of businesses and intangible assets, net of cash acquired
|
(516
|
)
|
|
(128
|
)
|
|
(261
|
)
|
|||
Net cash used in investing activities
|
(704
|
)
|
|
(305
|
)
|
|
(238
|
)
|
|||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Issuance of common stock under employee stock plans
|
56
|
|
|
66
|
|
|
62
|
|
|||
Payment of taxes related to net share settlement of equity awards
|
(30
|
)
|
|
(14
|
)
|
|
(6
|
)
|
|||
Treasury stock repurchases
|
(422
|
)
|
|
(194
|
)
|
|
(434
|
)
|
|||
Payment of dividends
|
(191
|
)
|
|
(170
|
)
|
|
(150
|
)
|
|||
Issuance of senior notes
|
—
|
|
|
—
|
|
|
299
|
|
|||
Debt issuance costs
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
Proceeds from debts and credit facility
|
483
|
|
|
400
|
|
|
255
|
|
|||
Repayment of debts and credit facility
|
(693
|
)
|
|
(290
|
)
|
|
(292
|
)
|
|||
Net cash used in financing activities
|
(797
|
)
|
|
(202
|
)
|
|
(268
|
)
|
|||
Effect of exchange rate movements
|
(17
|
)
|
|
7
|
|
|
(1
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
(431
|
)
|
|
389
|
|
|
286
|
|
|||
Cash and cash equivalents at beginning of year
|
2,678
|
|
|
2,289
|
|
|
2,003
|
|
|||
Cash and cash equivalents at end of year
|
$
|
2,247
|
|
|
$
|
2,678
|
|
|
$
|
2,289
|
|
|
|
|
|
|
|
||||||
Supplemental cash flow information:
|
|
|
|
|
|
||||||
Income tax payments, net
|
$
|
102
|
|
|
$
|
63
|
|
|
$
|
67
|
|
Interest payments
|
$
|
80
|
|
|
$
|
82
|
|
|
$
|
73
|
|
Non-cash change in investments in property, plant and equipment -increase (decrease)
|
$
|
(5
|
)
|
|
$
|
29
|
|
|
$
|
(12
|
)
|
|
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
(Accumulated Deficit)
|
|
Total Stockholders' Equity
|
|
Non-
Controlling
Interest
|
|
Total
Equity
|
||||||||||||||||||||
|
(in millions, except number of shares in thousands)
|
||||||||||||||||||||||||||||||||||||
Balance as of October 31, 2015
|
610,854
|
|
|
$
|
6
|
|
|
$
|
9,045
|
|
|
(279,395
|
)
|
|
$
|
(10,074
|
)
|
|
$
|
5,581
|
|
|
$
|
(391
|
)
|
|
$
|
4,167
|
|
|
$
|
3
|
|
|
$
|
4,170
|
|
Adjustment due to adoption of ASU 2016-09
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
196
|
|
|
—
|
|
|
196
|
|
|
—
|
|
|
196
|
|
||||||||
Components of comprehensive income, net of tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
462
|
|
|
—
|
|
|
462
|
|
|
—
|
|
|
462
|
|
||||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(112
|
)
|
|
(112
|
)
|
|
—
|
|
|
(112
|
)
|
||||||||
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
350
|
|
|
|
|
350
|
|
|||||||||
Cash dividends declared ($0.46 per common share)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(150
|
)
|
|
—
|
|
|
(150
|
)
|
|
—
|
|
|
(150
|
)
|
||||||||
Share-based awards issued
|
2,682
|
|
|
—
|
|
|
56
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
56
|
|
|
—
|
|
|
56
|
|
||||||||
Repurchase of common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(10,680
|
)
|
|
(434
|
)
|
|
—
|
|
|
—
|
|
|
(434
|
)
|
|
—
|
|
|
(434
|
)
|
||||||||
Share-based compensation
|
—
|
|
|
—
|
|
|
58
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
58
|
|
|
—
|
|
|
58
|
|
||||||||
Balance as of October 31, 2016
|
613,536
|
|
|
$
|
6
|
|
|
$
|
9,159
|
|
|
(290,075
|
)
|
|
$
|
(10,508
|
)
|
|
$
|
6,089
|
|
|
$
|
(503
|
)
|
|
$
|
4,243
|
|
|
$
|
3
|
|
|
$
|
4,246
|
|
Components of comprehensive income, net of tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
684
|
|
|
—
|
|
|
684
|
|
|
—
|
|
|
684
|
|
||||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
157
|
|
|
157
|
|
|
—
|
|
|
157
|
|
||||||||
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
841
|
|
|
|
|
841
|
|
|||||||||
Cash dividends declared ($0.528 per common share)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(170
|
)
|
|
—
|
|
|
(170
|
)
|
|
—
|
|
|
(170
|
)
|
||||||||
Change in non-controlling interest
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
1
|
|
||||||||
Share-based awards issued
|
2,621
|
|
|
—
|
|
|
51
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
51
|
|
|
—
|
|
|
51
|
|
||||||||
Repurchase of common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,107
|
)
|
|
(194
|
)
|
|
—
|
|
|
—
|
|
|
(194
|
)
|
|
—
|
|
|
(194
|
)
|
||||||||
Retirement of treasury stock
|
(294,182
|
)
|
|
(3
|
)
|
|
(3,970
|
)
|
|
294,182
|
|
|
10,702
|
|
|
(6,729
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Share-based compensation
|
—
|
|
|
—
|
|
|
60
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
60
|
|
|
—
|
|
|
60
|
|
||||||||
Balance as of October 31, 2017
|
321,975
|
|
|
$
|
3
|
|
|
$
|
5,300
|
|
|
—
|
|
|
$
|
—
|
|
|
$
|
(126
|
)
|
|
$
|
(346
|
)
|
|
$
|
4,831
|
|
|
$
|
4
|
|
|
$
|
4,835
|
|
Components of comprehensive income, net of tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
316
|
|
|
—
|
|
|
316
|
|
|
—
|
|
|
316
|
|
||||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(62
|
)
|
|
(62
|
)
|
|
—
|
|
|
(62
|
)
|
||||||||
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
254
|
|
|
|
|
254
|
|
|||||||||
Cash dividends declared ($0.596 per common share)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(191
|
)
|
|
—
|
|
|
(191
|
)
|
|
—
|
|
|
(191
|
)
|
||||||||
Share-based awards issued
|
2,176
|
|
|
—
|
|
|
25
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
25
|
|
|
—
|
|
|
25
|
|
||||||||
Repurchase of common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(6,436
|
)
|
|
(422
|
)
|
|
—
|
|
|
—
|
|
|
(422
|
)
|
|
—
|
|
|
(422
|
)
|
||||||||
Retirement of treasury stock
|
(6,436
|
)
|
|
—
|
|
|
(87
|
)
|
|
6,436
|
|
|
422
|
|
|
(335
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Share-based compensation
|
—
|
|
|
—
|
|
|
70
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
70
|
|
|
—
|
|
|
70
|
|
||||||||
Balance as of October 31, 2018
|
317,715
|
|
|
$
|
3
|
|
|
$
|
5,308
|
|
|
—
|
|
|
$
|
—
|
|
|
$
|
(336
|
)
|
|
$
|
(408
|
)
|
|
$
|
4,567
|
|
|
$
|
4
|
|
|
$
|
4,571
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Cost of products and services
|
$
|
16
|
|
|
$
|
15
|
|
|
$
|
14
|
|
Research and development
|
7
|
|
|
6
|
|
|
6
|
|
|||
Selling, general and administrative
|
48
|
|
|
40
|
|
|
40
|
|
|||
Total share-based compensation expense
|
$
|
71
|
|
|
$
|
61
|
|
|
$
|
60
|
|
|
Years Ended October 31,
|
||||
|
2018
|
|
2017
|
|
2016
|
LTPP:
|
|
|
|
|
|
Volatility of Agilent shares
|
21%
|
|
23%
|
|
24%
|
Volatility of selected peer-company shares
|
14%-66%
|
|
15%-63%
|
|
14%-50%
|
Pair-wise correlation with selected peers
|
32%
|
|
36%
|
|
35%
|
|
|
|
|
|
|
Post-vest restriction discount for all executive awards
|
4.8%
|
|
5.3%
|
|
5.5%
|
|
Options
Outstanding
|
|
Weighted
Average
Exercise Price
|
|||
|
(in thousands)
|
|
|
|||
Outstanding at October 31, 2017
|
2,761
|
|
|
$
|
34
|
|
Exercised
|
(753
|
)
|
|
$
|
32
|
|
Forfeited
|
(11
|
)
|
|
$
|
41
|
|
Outstanding at October 31, 2018
|
1,997
|
|
|
$
|
35
|
|
|
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
|
87
|
|
|
1.0
|
|
$
|
22
|
|
|
$
|
3,744
|
|
|
87
|
|
|
1.0
|
|
$
|
22
|
|
|
$
|
3,744
|
|
$25.01 - 30
|
674
|
|
|
3.5
|
|
$
|
26
|
|
|
25,862
|
|
|
674
|
|
|
3.5
|
|
$
|
26
|
|
|
25,862
|
|
||
$30.01 - 40
|
375
|
|
|
5.1
|
|
$
|
39
|
|
|
9,635
|
|
|
375
|
|
|
5.1
|
|
$
|
39
|
|
|
9,635
|
|
||
$40.01 - over
|
861
|
|
|
6.0
|
|
$
|
41
|
|
|
20,579
|
|
|
577
|
|
|
6.0
|
|
$
|
41
|
|
|
13,793
|
|
||
|
1,997
|
|
|
4.8
|
|
$
|
35
|
|
|
$
|
59,820
|
|
|
1,713
|
|
|
4.6
|
|
$
|
34
|
|
|
$
|
53,034
|
|
|
Aggregate
Intrinsic Value
|
|
Weighted
Average
Exercise
Price
|
||||
|
(in thousands)
|
|
|
||||
Options exercised in fiscal 2016
|
$
|
26,913
|
|
|
$
|
25
|
|
Options exercised in fiscal 2017
|
$
|
36,175
|
|
|
$
|
30
|
|
Options exercised in fiscal 2018
|
$
|
28,417
|
|
|
$
|
32
|
|
|
Shares
|
|
Weighted
Average
Grant Price
|
|||
|
(in thousands)
|
|
|
|||
Non-vested at October 31, 2017
|
3,302
|
|
|
$
|
43
|
|
Granted
|
1,136
|
|
|
$
|
68
|
|
Vested
|
(1,377
|
)
|
|
$
|
42
|
|
Forfeited
|
(172
|
)
|
|
$
|
51
|
|
Change in LTPP shares in the year due to exceeding performance targets
|
292
|
|
|
$
|
—
|
|
Non-vested at October 31, 2018
|
3,181
|
|
|
$
|
49
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
U.S. operations
|
$
|
169
|
|
|
$
|
116
|
|
|
$
|
27
|
|
Non-U.S. operations
|
777
|
|
|
687
|
|
|
517
|
|
|||
Total income before taxes
|
$
|
946
|
|
|
$
|
803
|
|
|
$
|
544
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
U.S. federal taxes:
|
|
|
|
|
|
||||||
Current
|
$
|
520
|
|
|
$
|
15
|
|
|
$
|
(1
|
)
|
Deferred
|
51
|
|
|
110
|
|
|
19
|
|
|||
Non-U.S. taxes:
|
|
|
|
|
|
||||||
Current
|
95
|
|
|
1
|
|
|
77
|
|
|||
Deferred
|
(22
|
)
|
|
(7
|
)
|
|
(14
|
)
|
|||
State taxes, net of federal benefit:
|
|
|
|
|
|
||||||
Current
|
1
|
|
|
1
|
|
|
3
|
|
|||
Deferred
|
(15
|
)
|
|
(1
|
)
|
|
(2
|
)
|
|||
Total provision
|
$
|
630
|
|
|
$
|
119
|
|
|
$
|
82
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Profit before tax times statutory rate
|
$
|
221
|
|
|
$
|
281
|
|
|
$
|
190
|
|
State income taxes, net of federal benefit
|
—
|
|
|
2
|
|
|
2
|
|
|||
Non-U.S. income taxed at different rates
|
(93
|
)
|
|
(43
|
)
|
|
(68
|
)
|
|||
Change in unrecognized tax benefits
|
(17
|
)
|
|
(110
|
)
|
|
(27
|
)
|
|||
U.S Tax Reform
|
552
|
|
|
—
|
|
|
—
|
|
|||
Valuation allowances
|
—
|
|
|
1
|
|
|
18
|
|
|||
Adjustments to earnings of foreign subsidiaries
|
—
|
|
|
—
|
|
|
(11
|
)
|
|||
Other, net
|
(33
|
)
|
|
(12
|
)
|
|
(22
|
)
|
|||
Provision for income taxes
|
$
|
630
|
|
|
$
|
119
|
|
|
$
|
82
|
|
Effective tax rate
|
66.6
|
%
|
|
14.8
|
%
|
|
15.1
|
%
|
|
October 31,
|
||||||||||||||
|
2018
|
|
2017
|
||||||||||||
|
Deferred
Tax Assets
|
|
Deferred Tax
Liabilities
|
|
Deferred
Tax Assets
|
|
Deferred Tax
Liabilities
|
||||||||
|
(in millions)
|
||||||||||||||
Inventory
|
$
|
7
|
|
|
$
|
—
|
|
|
$
|
16
|
|
|
$
|
—
|
|
Intangibles
|
—
|
|
|
112
|
|
|
—
|
|
|
93
|
|
||||
Property, plant and equipment
|
8
|
|
|
—
|
|
|
12
|
|
|
—
|
|
||||
Warranty reserves
|
8
|
|
|
—
|
|
|
12
|
|
|
—
|
|
||||
Pension benefits and retiree medical benefits
|
49
|
|
|
—
|
|
|
70
|
|
|
—
|
|
||||
Employee benefits, other than retirement
|
34
|
|
|
—
|
|
|
28
|
|
|
—
|
|
||||
Net operating loss, capital loss, and credit carryforwards
|
185
|
|
|
—
|
|
|
328
|
|
|
—
|
|
||||
Unremitted earnings of foreign subsidiaries
|
—
|
|
|
18
|
|
|
—
|
|
|
163
|
|
||||
Share-based compensation
|
31
|
|
|
—
|
|
|
45
|
|
|
—
|
|
||||
Deferred revenue
|
38
|
|
|
—
|
|
|
45
|
|
|
—
|
|
||||
Other
|
4
|
|
|
3
|
|
|
1
|
|
|
—
|
|
||||
Subtotal
|
364
|
|
|
133
|
|
|
557
|
|
|
256
|
|
||||
Tax valuation allowance
|
(135
|
)
|
|
—
|
|
|
(138
|
)
|
|
—
|
|
||||
Total deferred tax assets or deferred tax liabilities
|
$
|
229
|
|
|
$
|
133
|
|
|
$
|
419
|
|
|
$
|
256
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Long-term deferred tax assets (included within other assets)
|
$
|
165
|
|
|
$
|
240
|
|
Long-term deferred tax liabilities (included within other long-term liabilities)
|
(69
|
)
|
|
(77
|
)
|
||
Total
|
$
|
96
|
|
|
$
|
163
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Current income tax assets (included within other current assets)
|
$
|
59
|
|
|
$
|
77
|
|
Long-term income tax assets (included within other assets)
|
19
|
|
|
18
|
|
||
Current income tax liabilities (included within other accrued liabilities)
|
(71
|
)
|
|
(55
|
)
|
||
Long-term income tax liabilities (included within other long-term liabilities)
|
(607
|
)
|
|
(131
|
)
|
||
Total
|
$
|
(600
|
)
|
|
$
|
(91
|
)
|
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Balance, beginning of year
|
$
|
224
|
|
|
$
|
293
|
|
|
$
|
289
|
|
Additions for tax positions related to the current year
|
27
|
|
|
32
|
|
|
31
|
|
|||
Additions for tax positions from prior years
|
2
|
|
|
1
|
|
|
1
|
|
|||
Reductions for tax positions from prior years
|
(13
|
)
|
|
(3
|
)
|
|
(27
|
)
|
|||
Settlements with taxing authorities
|
—
|
|
|
(52
|
)
|
|
—
|
|
|||
Statute of limitations expirations
|
(26
|
)
|
|
(47
|
)
|
|
(1
|
)
|
|||
Balance, end of year
|
$
|
214
|
|
|
$
|
224
|
|
|
$
|
293
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Numerator:
|
|
|
|
|
|
||||||
Net income
|
$
|
316
|
|
|
$
|
684
|
|
|
$
|
462
|
|
Denominators:
|
|
|
|
|
|
||||||
Basic weighted average shares
|
321
|
|
|
322
|
|
|
$
|
326
|
|
||
Potential common shares — stock options and other employee stock plans
|
4
|
|
|
4
|
|
|
3
|
|
|||
Diluted weighted average shares
|
325
|
|
|
326
|
|
|
329
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Finished goods
|
$
|
386
|
|
|
$
|
363
|
|
Purchased parts and fabricated assemblies
|
252
|
|
|
212
|
|
||
Inventory
|
$
|
638
|
|
|
$
|
575
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Land
|
$
|
55
|
|
|
$
|
56
|
|
Buildings and leasehold improvements
|
952
|
|
|
886
|
|
||
Machinery and equipment
|
512
|
|
|
470
|
|
||
Software
|
141
|
|
|
188
|
|
||
Total property, plant and equipment
|
1,660
|
|
|
1,600
|
|
||
Accumulated depreciation and amortization
|
(838
|
)
|
|
(843
|
)
|
||
Property, plant and equipment, net
|
$
|
822
|
|
|
$
|
757
|
|
|
Life Sciences and Applied Markets
|
|
Diagnostics and Genomics
|
|
Agilent CrossLab
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Goodwill as of October 31, 2016
|
$
|
745
|
|
|
$
|
1,268
|
|
|
$
|
504
|
|
|
$
|
2,517
|
|
Foreign currency translation impact
|
2
|
|
|
10
|
|
|
—
|
|
|
12
|
|
||||
Goodwill arising from acquisitions
|
26
|
|
|
52
|
|
|
—
|
|
|
78
|
|
||||
Goodwill as of October 31, 2017
|
$
|
773
|
|
|
$
|
1,330
|
|
|
$
|
504
|
|
|
$
|
2,607
|
|
Foreign currency translation impact
|
(7
|
)
|
|
(4
|
)
|
|
(4
|
)
|
|
(15
|
)
|
||||
Goodwill arising from acquisitions
|
37
|
|
|
281
|
|
|
63
|
|
|
381
|
|
||||
Goodwill as of October 31, 2018
|
$
|
803
|
|
|
$
|
1,607
|
|
|
$
|
563
|
|
|
$
|
2,973
|
|
|
|
|
|
|
|
|
|
|
Other Intangible Assets
|
||||||||||
|
Gross
Carrying Amount |
|
Accumulated
Amortization and Impairments |
|
Net Book
Value |
||||||
|
(in millions)
|
||||||||||
As of October 31, 2017:
|
|
|
|
|
|
||||||
Purchased technology
|
$
|
855
|
|
|
$
|
646
|
|
|
$
|
209
|
|
Trademark/Tradename
|
149
|
|
|
73
|
|
|
76
|
|
|||
Customer relationships
|
151
|
|
|
112
|
|
|
39
|
|
|||
Third-party technology and licenses
|
$
|
27
|
|
|
$
|
14
|
|
|
$
|
13
|
|
Total amortizable intangible assets
|
$
|
1,182
|
|
|
$
|
845
|
|
|
$
|
337
|
|
In-Process R&D
|
24
|
|
|
—
|
|
|
24
|
|
|||
Total
|
$
|
1,206
|
|
|
$
|
845
|
|
|
$
|
361
|
|
As of October 31, 2018:
|
|
|
|
|
|
||||||
Purchased technology
|
$
|
947
|
|
|
$
|
683
|
|
|
$
|
264
|
|
Trademark/Tradename
|
151
|
|
|
88
|
|
|
63
|
|
|||
Customer relationships
|
107
|
|
|
63
|
|
|
44
|
|
|||
Third-party technology and licenses
|
$
|
28
|
|
|
$
|
19
|
|
|
$
|
9
|
|
Total amortizable intangible assets
|
$
|
1,233
|
|
|
$
|
853
|
|
|
$
|
380
|
|
In-Process R&D
|
111
|
|
|
—
|
|
|
111
|
|
|||
Total
|
$
|
1,344
|
|
|
$
|
853
|
|
|
$
|
491
|
|
|
|
|
|
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Long-Term
|
|
|
|
||||
Cost method investments
|
$
|
38
|
|
|
$
|
106
|
|
Trading securities
|
30
|
|
|
32
|
|
||
Total
|
$
|
68
|
|
|
$
|
138
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Equity method investments - share of losses
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(10
|
)
|
Equity method investments - other than temporary impairments
|
—
|
|
|
—
|
|
|
(18
|
)
|
|||
Total
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(28
|
)
|
|
|
|
Fair Value Measurement at October 31, 2018 Using
|
||||||||||||
|
October 31,
2018 |
|
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)
|
$
|
1,355
|
|
|
$
|
1,355
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Derivative instruments (foreign exchange contracts)
|
16
|
|
|
—
|
|
|
16
|
|
|
—
|
|
||||
Long-term
|
|
|
|
|
|
|
|
||||||||
Trading securities
|
30
|
|
|
30
|
|
|
—
|
|
|
—
|
|
||||
Total assets measured at fair value
|
$
|
1,401
|
|
|
$
|
1,385
|
|
|
$
|
16
|
|
|
$
|
—
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Short-term
|
|
|
|
|
|
|
|
||||||||
Derivative instruments (foreign exchange contracts)
|
$
|
5
|
|
|
$
|
—
|
|
|
$
|
5
|
|
|
$
|
—
|
|
Long-term
|
|
|
|
|
|
|
|
||||||||
Deferred compensation liability
|
30
|
|
|
—
|
|
|
30
|
|
|
—
|
|
||||
Total liabilities measured at fair value
|
$
|
35
|
|
|
$
|
—
|
|
|
$
|
35
|
|
|
$
|
—
|
|
|
|
|
Fair Value Measurement at October 31, 2017 Using
|
||||||||||||
|
October 31,
2017 |
|
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)
|
$
|
1,659
|
|
|
$
|
1,659
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Derivative instruments (foreign exchange contracts)
|
4
|
|
|
—
|
|
|
4
|
|
|
—
|
|
||||
Long-term
|
|
|
|
|
|
|
|
||||||||
Trading securities
|
32
|
|
|
32
|
|
|
—
|
|
|
—
|
|
||||
Total assets measured at fair value
|
$
|
1,695
|
|
|
$
|
1,691
|
|
|
$
|
4
|
|
|
$
|
—
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Short-term
|
|
|
|
|
|
|
|
||||||||
Derivative instruments (foreign exchange contracts)
|
$
|
6
|
|
|
$
|
—
|
|
|
$
|
6
|
|
|
$
|
—
|
|
Long-term
|
|
|
|
|
|
|
|
||||||||
Deferred compensation liability
|
32
|
|
|
—
|
|
|
32
|
|
|
—
|
|
||||
Total liabilities measured at fair value
|
$
|
38
|
|
|
$
|
—
|
|
|
$
|
38
|
|
|
$
|
—
|
|
|
Years Ended
October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Long-lived assets held and used
|
$
|
21
|
|
|
$
|
—
|
|
|
$
|
4
|
|
Long-lived assets held for sale
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
Derivatives Designated as
Cash Flow Hedges |
|
Derivatives
Not
Designated
as Hedging
Instruments
|
||||
|
|
Forward
Contracts USD |
|
Forward
Contracts USD |
||||
Currency
|
|
Buy/(Sell)
|
|
Buy/(Sell)
|
||||
|
|
(in millions)
|
||||||
Euro
|
|
$
|
(44
|
)
|
|
$
|
37
|
|
British Pound
|
|
(54
|
)
|
|
16
|
|
||
Canadian Dollar
|
|
(39
|
)
|
|
13
|
|
||
Australian Dollars
|
|
4
|
|
|
1
|
|
||
Malaysian Ringgit
|
|
—
|
|
|
(2
|
)
|
||
Japanese Yen
|
|
(91
|
)
|
|
14
|
|
||
Danish Krone
|
|
—
|
|
|
25
|
|
||
Korean Won
|
|
(34
|
)
|
|
(31
|
)
|
||
Singapore Dollar
|
|
14
|
|
|
6
|
|
||
Swiss Franc
|
|
—
|
|
|
(9
|
)
|
||
Chinese Yuan Renminbi
|
|
(38
|
)
|
|
(25
|
)
|
||
Polish Zloty
|
|
—
|
|
|
(5
|
)
|
||
Swedish Krona
|
|
—
|
|
|
(9
|
)
|
||
Other
|
|
—
|
|
|
(14
|
)
|
||
|
|
$
|
(282
|
)
|
|
$
|
17
|
|
Fair Values of Derivative Instruments
|
||||||||||||||||||
Asset Derivatives
|
|
Liability Derivatives
|
||||||||||||||||
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||
Balance Sheet Location
|
|
October 31,
2018 |
|
October 31,
2017 |
|
Balance Sheet Location
|
|
October 31,
2018 |
|
October 31,
2017 |
||||||||
(in millions)
|
||||||||||||||||||
Derivatives designated as hedging instruments:
|
|
|
|
|
|
|
|
|
|
|
||||||||
Cash flow hedges
|
|
|
|
|
|
|
|
|
|
|
||||||||
Foreign exchange contracts
|
|
|
|
|
|
|
|
|
|
|
||||||||
Other current assets
|
|
$
|
11
|
|
|
$
|
2
|
|
|
Other accrued liabilities
|
|
$
|
1
|
|
|
$
|
2
|
|
|
|
$
|
11
|
|
|
$
|
2
|
|
|
|
|
$
|
1
|
|
|
$
|
2
|
|
Derivatives not designated as hedging instruments:
|
|
|
|
|
|
|
|
|
|
|
||||||||
Foreign exchange contracts
|
|
|
|
|
|
|
|
|
|
|
||||||||
Other current assets
|
|
$
|
5
|
|
|
$
|
2
|
|
|
Other accrued liabilities
|
|
$
|
4
|
|
|
$
|
4
|
|
Total derivatives
|
|
$
|
16
|
|
|
$
|
4
|
|
|
|
|
$
|
5
|
|
|
$
|
6
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Derivatives designated as hedging instruments:
|
|
|
|
|
|
||||||
Cash flow hedges
|
|
|
|
|
|
||||||
Loss on interest rate swaps recognized in other comprehensive income (loss)
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(9
|
)
|
Loss reclassified from accumulated other comprehensive income into interest expense
|
$
|
(1
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
Gain (loss) recognized in accumulated other comprehensive income (loss)
|
$
|
7
|
|
|
$
|
—
|
|
|
$
|
(1
|
)
|
Gain (loss) reclassified from accumulated other comprehensive income (loss) into cost of sales
|
$
|
(3
|
)
|
|
$
|
1
|
|
|
$
|
(3
|
)
|
Derivatives not designated as hedging instruments:
|
|
|
|
|
|
||||||
Gain (loss) recognized in other income (expense), net within continuing operations
|
$
|
(2
|
)
|
|
$
|
5
|
|
|
$
|
1
|
|
|
Pensions
|
|
U.S. Post-Retirement Benefit Plans
|
||||||||||||||||||||||||||||||||
|
U.S. Plans
|
|
Non-U.S. Plans
|
|
|||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||||||||||
Net periodic benefit cost (benefit)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Service cost — benefits earned during the period
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
12
|
|
|
$
|
20
|
|
|
$
|
19
|
|
|
$
|
19
|
|
|
$
|
1
|
|
|
$
|
1
|
|
|
$
|
1
|
|
Interest cost on benefit obligation
|
16
|
|
|
15
|
|
|
16
|
|
|
13
|
|
|
12
|
|
|
16
|
|
|
3
|
|
|
3
|
|
|
4
|
|
|||||||||
Expected return on plan assets
|
(28
|
)
|
|
(25
|
)
|
|
(25
|
)
|
|
(46
|
)
|
|
(41
|
)
|
|
(44
|
)
|
|
(7
|
)
|
|
(7
|
)
|
|
(7
|
)
|
|||||||||
Amortization of net actuarial loss
|
1
|
|
|
3
|
|
|
3
|
|
|
29
|
|
|
36
|
|
|
27
|
|
|
8
|
|
|
11
|
|
|
10
|
|
|||||||||
Amortization of prior service benefit
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
(9
|
)
|
|
(10
|
)
|
|||||||||
Total periodic benefit cost (benefit)
|
$
|
(11
|
)
|
|
$
|
(7
|
)
|
|
$
|
3
|
|
|
$
|
16
|
|
|
$
|
26
|
|
|
$
|
18
|
|
|
$
|
(3
|
)
|
|
$
|
(1
|
)
|
|
$
|
(2
|
)
|
Curtailments and settlements
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(16
|
)
|
|
$
|
(5
|
)
|
|
$
|
(32
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net actuarial (gain) loss
|
$
|
2
|
|
|
$
|
(19
|
)
|
|
$
|
22
|
|
|
$
|
49
|
|
|
$
|
(128
|
)
|
|
$
|
149
|
|
|
$
|
(2
|
)
|
|
$
|
(9
|
)
|
|
$
|
3
|
|
Amortization of net actuarial loss
|
(1
|
)
|
|
(3
|
)
|
|
(3
|
)
|
|
(29
|
)
|
|
(36
|
)
|
|
(27
|
)
|
|
(8
|
)
|
|
(11
|
)
|
|
(10
|
)
|
|||||||||
Prior service cost (benefit)
|
—
|
|
|
—
|
|
|
15
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7
|
)
|
|||||||||
Amortization of prior service benefit
|
—
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
9
|
|
|
10
|
|
|||||||||
Gain due to settlement
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Foreign currency
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
2
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Total recognized in other comprehensive (income) loss
|
$
|
1
|
|
|
$
|
(22
|
)
|
|
$
|
37
|
|
|
$
|
21
|
|
|
$
|
(130
|
)
|
|
$
|
119
|
|
|
$
|
(2
|
)
|
|
$
|
(11
|
)
|
|
$
|
(4
|
)
|
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss
|
$
|
(10
|
)
|
|
$
|
(29
|
)
|
|
$
|
24
|
|
|
$
|
32
|
|
|
$
|
(136
|
)
|
|
$
|
137
|
|
|
$
|
(5
|
)
|
|
$
|
(12
|
)
|
|
$
|
(6
|
)
|
|
U.S. Defined
Benefit Plans
|
|
Non-U.S. Defined
Benefit Plans
|
|
U.S.
Post-Retirement
Benefit Plans
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Change in fair value of plan assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Fair value — beginning of year
|
$
|
414
|
|
|
$
|
341
|
|
|
$
|
855
|
|
|
$
|
774
|
|
|
$
|
95
|
|
|
$
|
88
|
|
Actual return on plan assets
|
8
|
|
|
66
|
|
|
(9
|
)
|
|
81
|
|
|
1
|
|
|
14
|
|
||||||
Employer contributions
|
—
|
|
|
25
|
|
|
21
|
|
|
21
|
|
|
—
|
|
|
—
|
|
||||||
Participants' contributions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Benefits paid
|
(21
|
)
|
|
(18
|
)
|
|
(26
|
)
|
|
(23
|
)
|
|
(6
|
)
|
|
(7
|
)
|
||||||
Settlements
|
—
|
|
|
—
|
|
|
5
|
|
|
(26
|
)
|
|
—
|
|
|
—
|
|
||||||
Currency impact
|
—
|
|
|
—
|
|
|
(21
|
)
|
|
28
|
|
|
—
|
|
|
—
|
|
||||||
Fair value — end of year
|
$
|
401
|
|
|
$
|
414
|
|
|
$
|
825
|
|
|
$
|
855
|
|
|
$
|
90
|
|
|
$
|
95
|
|
Change in benefit obligation:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Benefit obligation — beginning of year
|
$
|
445
|
|
|
$
|
434
|
|
|
$
|
935
|
|
|
$
|
1,002
|
|
|
$
|
97
|
|
|
$
|
103
|
|
Service cost
|
—
|
|
|
—
|
|
|
20
|
|
|
19
|
|
|
1
|
|
|
1
|
|
||||||
Interest cost
|
16
|
|
|
15
|
|
|
13
|
|
|
12
|
|
|
3
|
|
|
3
|
|
||||||
Participants' contributions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Plan amendment
|
—
|
|
|
—
|
|
|
1
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
||||||
Actuarial (gain) loss
|
(19
|
)
|
|
15
|
|
|
(6
|
)
|
|
(43
|
)
|
|
(7
|
)
|
|
(3
|
)
|
||||||
Benefits paid
|
(22
|
)
|
|
(19
|
)
|
|
(27
|
)
|
|
(22
|
)
|
|
(7
|
)
|
|
(7
|
)
|
||||||
Curtailments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Settlements
|
—
|
|
|
—
|
|
|
—
|
|
|
(70
|
)
|
|
—
|
|
|
—
|
|
||||||
Currency impact
|
—
|
|
|
—
|
|
|
(23
|
)
|
|
38
|
|
|
—
|
|
|
—
|
|
||||||
Benefit obligation — end of year
|
$
|
420
|
|
|
$
|
445
|
|
|
$
|
913
|
|
|
$
|
935
|
|
|
$
|
87
|
|
|
$
|
97
|
|
Overfunded (underfunded) status of PBO
|
$
|
(19
|
)
|
|
$
|
(31
|
)
|
|
$
|
(88
|
)
|
|
$
|
(80
|
)
|
|
$
|
3
|
|
|
$
|
(2
|
)
|
Amounts recognized in the consolidated balance sheet consist of:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other assets
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
95
|
|
|
$
|
86
|
|
|
$
|
3
|
|
|
$
|
—
|
|
Employee compensation and benefits
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Retirement and post-retirement benefits
|
(18
|
)
|
|
(30
|
)
|
|
(183
|
)
|
|
(166
|
)
|
|
—
|
|
|
(2
|
)
|
||||||
Total net asset (liability)
|
$
|
(19
|
)
|
|
$
|
(31
|
)
|
|
$
|
(88
|
)
|
|
$
|
(80
|
)
|
|
$
|
3
|
|
|
$
|
(2
|
)
|
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Actuarial (gains) losses
|
$
|
65
|
|
|
$
|
65
|
|
|
$
|
263
|
|
|
$
|
243
|
|
|
$
|
10
|
|
|
$
|
20
|
|
Prior service costs (benefits)
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
(20
|
)
|
|
(28
|
)
|
||||||
Total
|
$
|
65
|
|
|
$
|
65
|
|
|
$
|
263
|
|
|
$
|
242
|
|
|
$
|
(10
|
)
|
|
$
|
(8
|
)
|
|
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)
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(8
|
)
|
Amortization of actuarial net loss (gain)
|
$
|
1
|
|
|
$
|
35
|
|
|
$
|
4
|
|
|
|
|
Fair Value Measurement at October 31, 2018 Using
|
|
|
||||||||||||||
|
October 31,
2018 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Not Subject to Leveling
(1)
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Cash and Cash Equivalents
|
$
|
4
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4
|
|
Equity
|
308
|
|
|
69
|
|
|
—
|
|
|
—
|
|
|
239
|
|
|||||
Fixed Income
|
83
|
|
|
36
|
|
|
5
|
|
|
—
|
|
|
42
|
|
|||||
Other Investments
|
6
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
—
|
|
|||||
Total assets measured at fair value
|
$
|
401
|
|
|
$
|
105
|
|
|
$
|
5
|
|
|
$
|
6
|
|
|
$
|
285
|
|
|
|
|
Fair Value Measurement at October 31, 2017 Using
|
|
|
||||||||||||||
|
October 31,
2017 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Not Subject to Leveling
(1)
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Cash and Cash Equivalents
|
$
|
4
|
|
|
$
|
1
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3
|
|
Equity
|
327
|
|
|
88
|
|
|
—
|
|
|
—
|
|
|
239
|
|
|||||
Fixed Income
|
76
|
|
|
38
|
|
|
—
|
|
|
—
|
|
|
38
|
|
|||||
Other Investments
|
7
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|||||
Total assets measured at fair value
|
$
|
414
|
|
|
$
|
127
|
|
|
$
|
—
|
|
|
$
|
7
|
|
|
$
|
280
|
|
|
Years Ended
October 31.
|
||||||
|
2018
|
|
2017
|
||||
Balance, beginning of year
|
$
|
7
|
|
|
$
|
9
|
|
Realized gains/(losses)
|
—
|
|
|
(3
|
)
|
||
Unrealized gains/(losses)
|
1
|
|
|
3
|
|
||
Purchases, sales, issuances, and settlements
|
(2
|
)
|
|
(2
|
)
|
||
Transfers in (out)
|
—
|
|
|
—
|
|
||
Balance, end of year
|
$
|
6
|
|
|
$
|
7
|
|
|
|
|
Fair Value Measurement at October 31, 2018 Using
|
|
|
||||||||||||||
|
October 31,
2018 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Not Subject to Leveling
(1)
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Cash and Cash Equivalents
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3
|
|
Equity
|
65
|
|
|
15
|
|
|
—
|
|
|
—
|
|
|
50
|
|
|||||
Fixed Income
|
18
|
|
|
9
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|||||
Other Investments
|
4
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
—
|
|
|||||
Total assets measured at fair value
|
$
|
90
|
|
|
$
|
24
|
|
|
$
|
—
|
|
|
$
|
4
|
|
|
$
|
62
|
|
|
|
|
Fair Value Measurement at October 31, 2017 Using
|
|
|
||||||||||||||
|
October 31,
2017 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Not Subject to Leveling
(1)
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Cash and Cash Equivalents
|
$
|
6
|
|
|
$
|
5
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1
|
|
Equity
|
68
|
|
|
18
|
|
|
—
|
|
|
—
|
|
|
50
|
|
|||||
Fixed Income
|
17
|
|
|
9
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|||||
Other Investments
|
4
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
—
|
|
|||||
Total assets measured at fair value
|
$
|
95
|
|
|
$
|
32
|
|
|
$
|
—
|
|
|
$
|
4
|
|
|
$
|
59
|
|
|
Years Ended
October 31,
|
||||||
|
2018
|
|
2017
|
||||
Balance, beginning of year
|
$
|
4
|
|
|
$
|
5
|
|
Realized gains/(losses)
|
—
|
|
|
(2
|
)
|
||
Unrealized gains/(losses)
|
1
|
|
|
2
|
|
||
Purchases, sales, issuances, and settlements
|
(1
|
)
|
|
(1
|
)
|
||
Transfers in (out)
|
—
|
|
|
—
|
|
||
Balance, end of year
|
$
|
4
|
|
|
$
|
4
|
|
|
|
|
Fair Value Measurement at October 31, 2018 Using
|
|
|
||||||||||||||
|
October 31,
2018 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Not Subject to Leveling
(1)
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Cash and Cash Equivalents
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Equity
|
489
|
|
|
298
|
|
|
34
|
|
|
—
|
|
|
157
|
|
|||||
Fixed Income
|
334
|
|
|
76
|
|
|
228
|
|
|
—
|
|
|
30
|
|
|||||
Other Investments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total assets measured at fair value
|
$
|
825
|
|
|
$
|
374
|
|
|
$
|
264
|
|
|
$
|
—
|
|
|
$
|
187
|
|
|
|
|
Fair Value Measurement at October 31, 2017 Using
|
|
|
||||||||||||||
|
October 31,
2017 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Not Subject to Leveling
(1)
|
||||||||||
|
(in millions)
|
|
|
||||||||||||||||
Cash and Cash Equivalents
|
$
|
8
|
|
|
$
|
—
|
|
|
$
|
8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Equity
|
539
|
|
|
326
|
|
|
28
|
|
|
—
|
|
|
185
|
|
|||||
Fixed Income
|
307
|
|
|
60
|
|
|
229
|
|
|
—
|
|
|
18
|
|
|||||
Other Investments
|
1
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|||||
Total assets measured at fair value
|
$
|
855
|
|
|
$
|
386
|
|
|
$
|
266
|
|
|
$
|
—
|
|
|
$
|
203
|
|
|
2018
|
|
2017
|
||||||||||||
|
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
|
$
|
420
|
|
|
$
|
401
|
|
|
$
|
445
|
|
|
$
|
414
|
|
U.S. defined benefit plans where fair value of plan assets exceeds PBO
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Total
|
$
|
420
|
|
|
$
|
401
|
|
|
$
|
445
|
|
|
$
|
414
|
|
|
|
|
|
|
|
|
|
||||||||
Non-U.S. defined benefit plans where PBO exceeds or is equal to the fair value of plan assets
|
$
|
563
|
|
|
$
|
380
|
|
|
$
|
563
|
|
|
$
|
397
|
|
Non-U.S. defined benefit plans where fair value of plan assets exceeds PBO
|
350
|
|
|
445
|
|
|
372
|
|
|
458
|
|
||||
Total
|
$
|
913
|
|
|
$
|
825
|
|
|
$
|
935
|
|
|
$
|
855
|
|
|
|
|
|
|
|
|
|
||||||||
|
ABO
|
|
|
|
ABO
|
|
|
||||||||
U.S. defined benefit plans where ABO exceeds the fair value of plan assets
|
$
|
420
|
|
|
$
|
401
|
|
|
$
|
445
|
|
|
$
|
414
|
|
U.S. defined benefit plans where the fair value of plan assets exceeds ABO
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Total
|
$
|
420
|
|
|
$
|
401
|
|
|
$
|
445
|
|
|
$
|
414
|
|
|
|
|
|
|
|
|
|
||||||||
Non-U.S. defined benefit plans where ABO exceeds or is equal to the fair value of plan assets
|
$
|
543
|
|
|
$
|
380
|
|
|
$
|
539
|
|
|
$
|
397
|
|
Non-U.S. defined benefit plans where fair value of plan assets exceeds ABO
|
343
|
|
|
445
|
|
|
365
|
|
|
458
|
|
||||
Total
|
$
|
886
|
|
|
$
|
825
|
|
|
$
|
904
|
|
|
$
|
855
|
|
|
U.S. Defined
Benefit Plans
|
|
Non-U.S. Defined
Benefit Plans
|
|
U.S. Post-Retirement
Benefit Plans
|
||||||
|
(in millions)
|
||||||||||
2019
|
$
|
29
|
|
|
$
|
23
|
|
|
$
|
8
|
|
2020
|
$
|
31
|
|
|
$
|
25
|
|
|
$
|
8
|
|
2021
|
$
|
30
|
|
|
$
|
28
|
|
|
$
|
8
|
|
2022
|
$
|
29
|
|
|
$
|
31
|
|
|
$
|
7
|
|
2023
|
$
|
30
|
|
|
$
|
33
|
|
|
$
|
7
|
|
2024 - 2028
|
$
|
142
|
|
|
$
|
175
|
|
|
$
|
33
|
|
|
For years ended October 31,
|
||||
|
2018
|
|
2017
|
|
2016
|
U.S. defined benefit plans:
|
|
|
|
|
|
Discount rate
|
3.75%
|
|
3.75%
|
|
4.20%
|
Average increase in compensation levels
|
n/a
|
|
n/a
|
|
3.50%
|
Expected long-term return on assets
|
7.00%
|
|
7.25%
|
|
7.50%
|
Non-U.S. defined benefit plans:
|
|
|
|
|
|
Discount rate
|
0.67-2.52%
|
|
0.22-2.66%
|
|
0.77-3.76%
|
Average increase in compensation levels
|
2.00-3.25%
|
|
2.00-4.25%
|
|
2.25-4.00%
|
Expected long-term return on assets
|
4.00-6.00%
|
|
4.00-6.25%
|
|
4.25-6.50%
|
U.S. post-retirement benefits plans:
|
|
|
|
|
|
Discount rate
|
3.50%
|
|
3.50%
|
|
4.00%
|
Expected long-term return on assets
|
7.00%
|
|
7.25%
|
|
7.50%
|
Current medical cost trend rate
|
6.00%
|
|
6.00%
|
|
7.00%
|
Ultimate medical cost trend rate
|
3.50%
|
|
3.50%
|
|
3.50%
|
Medical cost trend rate decreases to ultimate rate in year
|
2029
|
|
2029
|
|
2029
|
|
As of the Years Ending October 31,
|
||
|
2018
|
|
2017
|
U.S. defined benefit plans:
|
|
|
|
Discount rate
|
4.50%
|
|
3.75%
|
Non-U.S. defined benefit plans:
|
|
|
|
Discount rate
|
0.83-2.68%
|
|
0.67-2.52%
|
Average increase in compensation levels
|
2.25-3.25%
|
|
2.00-3.25%
|
U.S. post-retirement benefits plans:
|
|
|
|
Discount rate
|
4.25%
|
|
3.50%
|
Current medical cost trend rate
|
6.00%
|
|
6.00%
|
Ultimate medical cost trend rate
|
3.50%
|
|
3.50%
|
Medical cost trend rate decreases to ultimate rate in year
|
2029
|
|
2029
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Balance as of October 31, 2017 and 2016
|
$
|
34
|
|
|
$
|
35
|
|
Accruals for warranties including change in estimates
|
53
|
|
|
53
|
|
||
Settlements made during the period
|
(52
|
)
|
|
(54
|
)
|
||
Balance as of October 31, 2018 and 2017
|
$
|
35
|
|
|
$
|
34
|
|
Accruals for warranties due within one year
|
35
|
|
|
33
|
|
||
Accruals for warranties due after one year
|
—
|
|
|
1
|
|
||
Balance as of October 31, 2018 and 2017
|
$
|
35
|
|
|
$
|
34
|
|
|
|
Future Minimum
Lease Payments |
|
Future Minimum
Lease Income |
||||
|
|
(in millions)
|
||||||
2019
|
|
$
|
42
|
|
|
$
|
9
|
|
2020
|
|
$
|
35
|
|
|
$
|
8
|
|
2021
|
|
$
|
23
|
|
|
$
|
9
|
|
2022
|
|
$
|
13
|
|
|
$
|
4
|
|
2023
|
|
$
|
10
|
|
|
$
|
—
|
|
Thereafter
|
|
$
|
57
|
|
|
$
|
—
|
|
|
October 31, 2018
|
|
October 31, 2017
|
||||||||||||||||||||
|
Amortized
Principal
|
|
Swap
|
|
Total
|
|
Amortized
Principal
|
|
Swap
|
|
Total
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
2020 Senior Notes
|
$
|
499
|
|
|
$
|
7
|
|
|
$
|
506
|
|
|
$
|
499
|
|
|
$
|
11
|
|
|
$
|
510
|
|
2022 Senior Notes
|
399
|
|
|
—
|
|
|
399
|
|
|
398
|
|
|
—
|
|
|
398
|
|
||||||
2023 Senior Notes
|
597
|
|
|
—
|
|
|
597
|
|
|
596
|
|
|
—
|
|
|
596
|
|
||||||
2026 Senior Notes
|
297
|
|
|
—
|
|
|
297
|
|
|
297
|
|
|
—
|
|
|
297
|
|
||||||
Total
|
$
|
1,792
|
|
|
$
|
7
|
|
|
$
|
1,799
|
|
|
$
|
1,790
|
|
|
$
|
11
|
|
|
$
|
1,801
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Foreign currency translation, net of tax expense of $(15) and $(8) for 2018 and 2017, respectively
|
$
|
(214
|
)
|
|
(156
|
)
|
|
Unrealized losses (including prior service benefit) on defined benefit plans, net of tax benefit of $132 and $127 for 2018 and 2017, respectively
|
(201
|
)
|
|
(188
|
)
|
||
Unrealized gains (losses) on derivative instruments, net of tax benefit of $0 and $2 for 2018 and 2017, respectively
|
7
|
|
|
(2
|
)
|
||
Total accumulated other comprehensive loss
|
$
|
(408
|
)
|
|
$
|
(346
|
)
|
|
|
|
|
Net defined benefit pension cost and post retirement plan costs
|
|
|
|
|
||||||||||||
|
|
Foreign currency translation
|
|
Prior service credits
|
|
Actuarial Losses
|
|
Unrealized gains (losses) on derivatives
|
|
Total
|
||||||||||
|
|
(in millions)
|
||||||||||||||||||
As of October 31, 2016
|
|
$
|
(197
|
)
|
|
$
|
146
|
|
|
$
|
(451
|
)
|
|
$
|
(1
|
)
|
|
$
|
(503
|
)
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Other comprehensive income before reclassifications
|
|
44
|
|
|
—
|
|
|
116
|
|
|
—
|
|
|
160
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Amounts reclassified out of accumulated other comprehensive income
|
|
—
|
|
|
(9
|
)
|
|
59
|
|
|
(1
|
)
|
|
49
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Tax (expense) benefit
|
|
(3
|
)
|
|
3
|
|
|
(52
|
)
|
|
—
|
|
|
(52
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Other comprehensive income (loss)
|
|
41
|
|
|
(6
|
)
|
|
123
|
|
|
(1
|
)
|
|
157
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
As of October 31, 2017
|
|
$
|
(156
|
)
|
|
$
|
140
|
|
|
$
|
(328
|
)
|
|
$
|
(2
|
)
|
|
$
|
(346
|
)
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Other comprehensive income (loss) before reclassifications
|
|
(51
|
)
|
|
—
|
|
|
(49
|
)
|
|
7
|
|
|
(93
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Amounts reclassified out of accumulated other comprehensive income
|
|
—
|
|
|
(8
|
)
|
|
39
|
|
|
4
|
|
|
35
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Tax (expense) benefit
|
|
(7
|
)
|
|
2
|
|
|
3
|
|
|
(2
|
)
|
|
(4
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Other comprehensive income (loss)
|
|
(58
|
)
|
|
(6
|
)
|
|
(7
|
)
|
|
9
|
|
|
(62
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
As of October 31, 2018
|
|
$
|
(214
|
)
|
|
$
|
134
|
|
|
$
|
(335
|
)
|
|
$
|
7
|
|
|
$
|
(408
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Details about Accumulated Other
Comprehensive Income components |
|
Amounts Reclassified
from Other Comprehensive Income |
|
Affected line item in
statement of operations |
||||||
|
|
2018
|
|
2017
|
|
|
||||
|
|
|
|
|
|
|
||||
Unrealized gains and (losses) on derivatives
|
|
$
|
(4
|
)
|
|
$
|
1
|
|
|
Cost of products and interest expense
|
|
|
(4
|
)
|
|
1
|
|
|
Total before income tax
|
||
|
|
1
|
|
|
—
|
|
|
(Provision)/benefit for income tax
|
||
|
|
(3
|
)
|
|
1
|
|
|
Total net of income tax
|
||
Net defined benefit pension cost and post retirement plan costs:
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
||||
Actuarial net loss
|
|
(39
|
)
|
|
(59
|
)
|
|
Cost of sales and operating expenses
|
||
Prior service benefit
|
|
8
|
|
|
9
|
|
|
Cost of sales and operating expenses
|
||
|
|
(31
|
)
|
|
(50
|
)
|
|
Total before income tax
|
||
|
|
10
|
|
|
14
|
|
|
(Provision)/benefit for income tax
|
||
|
|
(21
|
)
|
|
(36
|
)
|
|
Total net of income tax
|
||
|
|
|
|
|
|
|
||||
Total reclassifications for the period
|
|
$
|
(24
|
)
|
|
$
|
(35
|
)
|
|
|
|
Life Sciences and Applied Markets
|
|
Diagnostics and Genomics
|
|
Agilent CrossLab
|
|
Total
Segments |
||||||||
|
(in millions)
|
||||||||||||||
Year ended October 31, 2018:
|
|
|
|
|
|
|
|
||||||||
Total net revenue
|
$
|
2,270
|
|
|
$
|
943
|
|
|
$
|
1,701
|
|
|
$
|
4,914
|
|
Income from operations
|
$
|
547
|
|
|
$
|
178
|
|
|
$
|
397
|
|
|
$
|
1,122
|
|
Depreciation expense
|
$
|
38
|
|
|
$
|
33
|
|
|
$
|
31
|
|
|
$
|
102
|
|
Share-based compensation expense
|
$
|
33
|
|
|
$
|
14
|
|
|
$
|
24
|
|
|
$
|
71
|
|
Year ended October 31, 2017:
|
|
|
|
|
|
|
|
||||||||
Total net revenue
|
$
|
2,081
|
|
|
$
|
860
|
|
|
$
|
1,531
|
|
|
$
|
4,472
|
|
Income from operations
|
$
|
468
|
|
|
$
|
168
|
|
|
$
|
338
|
|
|
$
|
974
|
|
Depreciation expense
|
$
|
35
|
|
|
$
|
30
|
|
|
$
|
29
|
|
|
$
|
94
|
|
Share-based compensation expense
|
$
|
30
|
|
|
$
|
10
|
|
|
$
|
21
|
|
|
$
|
61
|
|
Year ended October 31, 2016:
|
|
|
|
|
|
|
|
||||||||
Total net revenue
|
$
|
1,992
|
|
|
$
|
790
|
|
|
$
|
1,420
|
|
|
$
|
4,202
|
|
Income from operations
|
$
|
412
|
|
|
$
|
131
|
|
|
$
|
316
|
|
|
$
|
859
|
|
Depreciation expense
|
$
|
36
|
|
|
$
|
31
|
|
|
$
|
28
|
|
|
$
|
95
|
|
Share-based compensation expense
|
$
|
29
|
|
|
$
|
10
|
|
|
$
|
21
|
|
|
$
|
60
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Total reportable segments' income from operations
|
$
|
1,122
|
|
|
$
|
974
|
|
|
$
|
859
|
|
Amortization of intangible assets related to business combinations
|
(105
|
)
|
|
(117
|
)
|
|
(152
|
)
|
|||
Acquisition and integration costs
|
(23
|
)
|
|
(30
|
)
|
|
(41
|
)
|
|||
Transformational initiatives
|
(25
|
)
|
|
(12
|
)
|
|
(38
|
)
|
|||
Asset Impairments
|
(21
|
)
|
|
—
|
|
|
(4
|
)
|
|||
Business exit and divestiture costs ( primarily our NMR business)
|
(9
|
)
|
|
—
|
|
|
(11
|
)
|
|||
Impairment of loans
|
—
|
|
|
—
|
|
|
(7
|
)
|
|||
NASD site costs
|
(8
|
)
|
|
—
|
|
|
—
|
|
|||
Pension curtailment gain
|
—
|
|
|
—
|
|
|
15
|
|
|||
Pension settlement gain
|
5
|
|
|
32
|
|
|
1
|
|
|||
Special compliance costs
|
(4
|
)
|
|
—
|
|
|
—
|
|
|||
Other
|
(4
|
)
|
|
(6
|
)
|
|
(7
|
)
|
|||
Interest Income
|
38
|
|
|
22
|
|
|
11
|
|
|||
Interest Expense
|
(75
|
)
|
|
(79
|
)
|
|
(72
|
)
|
|||
Other income (expense), net
|
55
|
|
|
19
|
|
|
(10
|
)
|
|||
Income before taxes, as reported
|
$
|
946
|
|
|
$
|
803
|
|
|
$
|
544
|
|
|
Life Sciences and Applied Markets
|
|
Diagnostics and Genomics
|
|
Agilent CrossLab
|
|
Total
Segments |
||||||||
|
(in millions)
|
||||||||||||||
As of October 31, 2018:
|
|
|
|
|
|
|
|
||||||||
Assets
|
$
|
1,744
|
|
|
$
|
2,679
|
|
|
$
|
1,267
|
|
|
$
|
5,690
|
|
Capital expenditures
|
$
|
47
|
|
|
$
|
92
|
|
|
$
|
38
|
|
|
$
|
177
|
|
As of October 31, 2017:
|
|
|
|
|
|
|
|
||||||||
Assets
|
$
|
1,681
|
|
|
$
|
2,191
|
|
|
$
|
1,138
|
|
|
$
|
5,010
|
|
Capital expenditures
|
$
|
39
|
|
|
$
|
111
|
|
|
$
|
26
|
|
|
$
|
176
|
|
|
October 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Total reportable segments' assets
|
$
|
5,690
|
|
|
$
|
5,010
|
|
Cash, cash equivalents
|
2,247
|
|
|
2,678
|
|
||
Prepaid expenses
|
80
|
|
|
92
|
|
||
Investments
|
68
|
|
|
138
|
|
||
Long-term and other receivables
|
102
|
|
|
105
|
|
||
Other
|
354
|
|
|
403
|
|
||
Total assets
|
$
|
8,541
|
|
|
$
|
8,426
|
|
|
Years Ended October 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Instrumentation
|
$
|
2,032
|
|
|
$
|
1,858
|
|
|
$
|
1,790
|
|
Analytical lab services
|
1,083
|
|
|
991
|
|
|
910
|
|
|||
Analytical lab consumables
|
618
|
|
|
540
|
|
|
510
|
|
|||
Diagnostics and genomics solutions
|
943
|
|
|
860
|
|
|
790
|
|
|||
Informatics and other
|
238
|
|
|
223
|
|
|
202
|
|
|||
Total
|
$
|
4,914
|
|
|
$
|
4,472
|
|
|
$
|
4,202
|
|
|
United
States |
|
China
(1)
|
|
Rest of the
World |
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Net revenue:
|
|
|
|
|
|
|
|
||||||||
Year ended October 31, 2018
|
$
|
1,414
|
|
|
$
|
1,015
|
|
|
$
|
2,485
|
|
|
$
|
4,914
|
|
Year ended October 31, 2017
|
$
|
1,314
|
|
|
$
|
900
|
|
|
$
|
2,258
|
|
|
$
|
4,472
|
|
Year ended October 31, 2016
|
$
|
1,251
|
|
|
$
|
839
|
|
|
$
|
2,112
|
|
|
$
|
4,202
|
|
1.
|
China also includes Hong Kong net revenue.
|
|
United
States |
|
Germany
|
|
Rest of the
World |
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Long-lived assets:
|
|
|
|
|
|
|
|
||||||||
October 31, 2018
|
$
|
565
|
|
|
$
|
117
|
|
|
$
|
362
|
|
|
$
|
1,044
|
|
October 31, 2017
|
$
|
556
|
|
|
$
|
118
|
|
|
$
|
358
|
|
|
$
|
1,032
|
|
|
Three Months Ended
|
||||||||||||||
|
January 31,
|
|
April 30,
|
|
July 31,
|
|
October 31,
|
||||||||
|
(in millions, except per share data)
|
||||||||||||||
2018
|
|
|
|
|
|
|
|
||||||||
Net revenue
|
$
|
1,211
|
|
|
$
|
1,206
|
|
|
$
|
1,203
|
|
|
$
|
1,294
|
|
Gross profit
|
673
|
|
|
644
|
|
|
661
|
|
|
709
|
|
||||
Income from operations
|
239
|
|
|
215
|
|
|
225
|
|
|
249
|
|
||||
Net income (loss)
|
(320
|
)
|
|
205
|
|
|
236
|
|
|
195
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per share — Basic
|
$
|
(0.99
|
)
|
|
$
|
0.64
|
|
|
$
|
0.74
|
|
|
$
|
0.61
|
|
Net income (loss) per share — Diluted
|
$
|
(0.99
|
)
|
|
$
|
0.63
|
|
|
$
|
0.73
|
|
|
$
|
0.61
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares used in computing net income per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
323
|
|
|
322
|
|
|
320
|
|
|
319
|
|
||||
Diluted
|
323
|
|
|
326
|
|
|
324
|
|
|
322
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Cash dividends per common share
|
$
|
0.149
|
|
|
$
|
0.149
|
|
|
$
|
0.149
|
|
|
$
|
0.149
|
|
|
|
|
|
|
|
|
|
||||||||
2017
|
|
|
|
|
|
|
|
||||||||
Net revenue
|
$
|
1,067
|
|
|
$
|
1,102
|
|
|
$
|
1,114
|
|
|
$
|
1,189
|
|
Gross profit
|
574
|
|
|
592
|
|
|
596
|
|
|
647
|
|
||||
Income from operations
|
206
|
|
|
201
|
|
|
201
|
|
|
233
|
|
||||
Net income
|
168
|
|
|
164
|
|
|
175
|
|
|
177
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income per share — Basic
|
$
|
0.52
|
|
|
$
|
0.51
|
|
|
$
|
0.55
|
|
|
$
|
0.55
|
|
Net income per share — Diluted
|
$
|
0.52
|
|
|
$
|
0.50
|
|
|
$
|
0.54
|
|
|
$
|
0.54
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares used in computing net income per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
322
|
|
|
321
|
|
|
321
|
|
|
322
|
|
||||
Diluted
|
326
|
|
|
325
|
|
|
326
|
|
|
326
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Cash dividends per common share
|
$
|
0.132
|
|
|
$
|
0.132
|
|
|
$
|
0.132
|
|
|
$
|
0.132
|
|
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)
|
5,178,290
|
|
|
$
|
35
|
|
|
33,095,375
|
|
Equity compensation plans not approved by security holders
|
—
|
|
|
—
|
|
|
—
|
|
|
Total
|
5,178,290
|
|
|
$
|
35
|
|
|
33,095,375
|
|
(1)
|
The number of securities remaining available for future issuance in column (c) includes
26,937,115
shares of common stock authorized and available for issuance under the Agilent Technologies, Inc. Employee Stock Purchase Plan ("423(b) Plan"). The number of shares authorized for issuance under the 423(b) Plan is subject to an automatic annual increase of the lesser of one percent of the outstanding common stock of Agilent or an amount determined by the Compensation Committee of our Board of Directors. Under the terms of the 423(b) Plan, in no event shall the aggregate number of shares issued under the Plan exceed 75 million shares.
|
(2)
|
We issue securities under our equity compensation plans in forms other than options, warrants or rights. On November 15, 2017 and March 21, 2018, the Board and the stockholders, respectively, approved the Agilent Technologies, Inc. 2018 Stock Plan (the “2018 Plan”), which was an amendment and restatement of the Company’s 2009 Stock Plan, approved by the Board and the stockholders, respectively, on November 19, 2008 and March 11, 2009. The 2018 Plan provides for awards of stock-based incentive compensation to our employees (including officers), directors and consultants. The 2018 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 2018 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)
|
||||||||||||||
2018
|
|
|
|
|
|
|
|
|
||||||||
Tax valuation allowance
|
|
$
|
138
|
|
|
$
|
4
|
|
|
$
|
(7
|
)
|
|
$
|
135
|
|
2017
|
|
|
|
|
|
|
|
|
||||||||
Tax valuation allowance
|
|
$
|
129
|
|
|
$
|
14
|
|
|
$
|
(5
|
)
|
|
$
|
138
|
|
2016
|
|
|
|
|
|
|
|
|
||||||||
Tax valuation allowance
|
|
$
|
131
|
|
|
$
|
22
|
|
|
$
|
(24
|
)
|
|
$
|
129
|
|
3.
|
Exhibits.
|
|
|
|
|
Incorporation by Reference
|
||||||||
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
2.1
|
|
|
|
|
8-K
|
|
8/5/2014
|
|
2.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.1
|
|
|
|
|
S-1
|
|
8/16/1999
|
|
3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.2
|
|
|
|
|
8-K
|
|
11/20/2012
|
|
3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.1
|
|
|
|
|
8-K
|
|
11/27/2001
|
|
99.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.2
|
|
|
|
|
S-3ASR
|
|
10/24/2007
|
|
4.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.3
|
|
|
|
|
8-K
|
|
7/20/2010
|
|
4.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.4
|
|
|
|
|
8-K
|
|
9/13/2012
|
|
4.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.5
|
|
|
|
|
8-K
|
|
6/21/2013
|
|
4.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.6
|
|
|
|
|
8-K
|
|
9/22/2016
|
|
4.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.1
|
|
|
|
|
10-K
|
|
12/22/2006
|
|
10.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.2
|
|
|
|
|
8-K
|
|
11/12/2004
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.3
|
|
|
|
|
8-K
|
|
11/12/2004
|
|
10.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.4
|
|
|
|
|
10-Q
|
|
9/5/2008
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.5
|
|
|
|
|
DEF14A
|
|
1/27/2009
|
|
Appendix A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.6
|
|
|
|
|
10‑K
|
|
12/20/2010
|
|
10.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.7
|
|
|
|
|
10-K
|
|
12/21/2009
|
|
10.31
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Incorporation by Reference
|
||||||||
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
10.8
|
|
|
|
|
10‑K
|
|
12/20/2010
|
|
10.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.9
|
|
|
|
|
10-K
|
|
12/21/2009
|
|
10.32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.10
|
|
|
|
|
10‑K
|
|
12/20/2010
|
|
10.21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.11
|
|
|
|
|
10-K
|
|
12/21/2015
|
|
10.26
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.12
|
|
|
|
|
10-K
|
|
12/21/2015
|
|
10.28
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.13
|
|
|
|
|
10-K
|
|
12/21/2015
|
|
10.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.14
|
|
|
|
|
DEF14A
|
|
2/8/2018
|
|
Appendix B
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.15
|
|
|
|
|
10-Q
|
|
5/31/2018
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.16
|
|
|
|
|
10-Q
|
|
5/31/2018
|
|
10.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.17
|
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.18
|
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.19
|
|
|
|
|
10-K
|
|
12/21/2017
|
|
10.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.20
|
|
|
|
|
10-Q
|
|
3/9/2006
|
|
10.63
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.21
|
|
|
|
|
10-K
|
|
12/21/2009
|
|
10.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.22
|
|
|
|
|
10-K
|
|
12/21/2017
|
|
10.20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.23
|
|
|
|
|
DEF14A
|
|
2/6/2015
|
|
Annex A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.24
|
|
|
|
|
8-K
|
|
4/10/2008
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.25
|
|
|
|
|
10-K
|
|
12/22/2014
|
|
10.35
|
|
|
|
|
|
|
Incorporation by Reference
|
||||||||
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
10.26
|
|
|
|
|
8-K
|
|
4/10/2008
|
|
10.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.27
|
|
|
|
|
10-K
|
|
12/22/2014
|
|
10.37
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.28
|
|
|
|
|
10-K
|
|
12/21/2009
|
|
10.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.29
|
|
|
|
|
10-K
|
|
12/22/2014
|
|
10.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.30
|
|
|
|
|
8-K
|
|
8/5/2014
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.31
|
|
|
|
|
8-K
|
|
8/5/2014
|
|
10.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.32
|
|
|
|
|
8-K
|
|
8/5/2014
|
|
10.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.33
|
|
|
|
|
8-K
|
|
8/5/2014
|
|
10.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.34
|
|
|
|
|
8-K
|
|
8/5/2014
|
|
10.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.35
|
|
|
|
|
8-K
|
|
9/17/2014
|
|
10.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.36
|
|
|
|
|
8-K
|
|
6/10/2015
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.37
|
|
|
|
|
8-K
|
|
7/17/2017
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.38
|
|
|
|
|
10-K
|
|
12/22/2014
|
|
10.62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.39
|
|
|
|
|
10-K
|
|
12/21/2015
|
|
10.70
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.40
|
|
|
|
|
10-Q
|
|
3/8/2016
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.41
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Incorporation by Reference
|
||||||||
Exhibit
Number
|
|
Description
|
|
Form
|
|
Date
|
|
Exhibit
Number
|
|
Filed
Herewith
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
10.42
|
|
|
|
|
10-K
|
|
12/21/2017
|
|
10.40
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.2
|
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32.1
|
|
|
|
|
|
|
|
|
|
|
X
|
|
32.2
|
|
|
|
|
|
|
|
|
|
|
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/ MICHAEL TANG
|
|
|
|
|
Michael Tang
|
|
|
|
|
Senior Vice President,
|
|
|
|
|
General Counsel and Secretary
|
Signature
|
|
Title
|
|
Date
|
|
|
|
|
|
/s/ MICHAEL R. MCMULLEN
|
|
Director, President and Chief Executive Officer
|
|
December 20, 2018
|
Michael R. McMullen
|
|
(Principal Executive Officer)
|
|
|
|
|
|
|
|
/s/ ROBERT W. MCMAHON
|
|
Senior Vice President and Chief Financial Officer
|
|
December 20, 2018
|
Robert W. McMahon
|
|
(Principal Financial Officer)
|
|
|
|
|
|
|
|
/s/ RODNEY GONSALVES
|
|
Vice President, Corporate Controllership
|
|
December 20, 2018
|
Rodney Gonsalves
|
|
(Principal Accounting Officer)
|
|
|
|
|
|
|
|
/s/ KOH BOON HWEE
|
|
Chairman of the Board of Directors
|
|
December 20, 2018
|
Koh Boon Hwee
|
|
|
|
|
|
|
|
|
|
/s/ HANS E. BISHOP
|
|
Director
|
|
December 20, 2018
|
Hans E. Bishop
|
|
|
|
|
|
|
|
|
|
/s/ PAUL N. CLARK
|
|
Director
|
|
December 20, 2018
|
Paul N. Clark
|
|
|
|
|
|
|
|
|
|
/s/ HEIDI KUNZ
|
|
Director
|
|
December 20, 2018
|
Heidi Kunz
|
|
|
|
|
|
|
|
|
|
/s/ DANIEL K. PODOLSKY, M.D.
|
|
Director
|
|
December 20, 2018
|
Daniel K. Podolsky, M.D.
|
|
|
|
|
|
|
|
|
|
/s/ SUE H. RATAJ
|
|
Director
|
|
December 20, 2018
|
Sue H. Rataj
|
|
|
|
|
|
|
|
|
|
/s/ GEORGE A. SCANGOS, Ph D
|
|
Director
|
|
December 20, 2018
|
George A. Scangos, Ph D.
|
|
|
|
|
|
|
|
|
|
/s/ DOW R. WILSON
|
|
Director
|
|
December 20, 2018
|
Dow R. Wilson
|
|
|
|
|
|
|
|
|
|
/s/ TADATAKA YAMADA, M.D.
|
|
Director
|
|
December 20, 2018
|
Tadataka Yamada, M.D.
|
|
|
|
|
•
|
personal information such as: the Awardee’s name, residence address, date of birth, hire date, work email, work phone number, division code, location code, date of employment termination, and employee identification number;
|
•
|
contact information such as: home address and telephone number; and
|
•
|
financial information such as: any Shares or directorships held in the Company or any Subsidiary or Affiliate, details of all Stock Awards or any other entitlement to Shares or equivalent benefits awarded, canceled, exercised, vested, unvested or outstanding in the Awardee’s favor.
|
•
|
as required by law or court order; and
|
•
|
as needed to defend or pursue legal claims.
|
List A
|
List B
|
Valid Passport.
|
Recent utility bill showing data subject’s current home address (no more than 3 months’ old).
|
Valid Photo Driving Licence.
|
Recent Bank or Building Society Statement (no more than 3 months’ old).
|
•
|
the Meidas portal at https://meidas.hr.agilent.com/. Here the Awardee can update their personal information such as home and work addresses, names, birth dates, telephone numbers, email, and tax ID numbers.
|
•
|
the Fidelity NetBenefits portal at https://nb.fidelity.com/public/nb/default/home. Here the Awardee can update their contribution withholding rates or request to withdraw from the ESPP.
|
•
|
the Awardee believes that it is no longer necessary for us to hold the personal data the we hold about the Awardee; or
|
•
|
the Awardee believes the personal data the we hold about the Awardee is being unlawfully processed by us;
|
•
|
the Awardee believes the personal data is not accurate for the period it takes for us to verify whether the data is accurate;
|
•
|
we wish to erase the personal data as the processing we are doing is unlawful but the Awardee wants us to simply restrict the use of that data; or
|
•
|
we no longer need the personal data for the purposes of the processing but the Awardee requires us to retain the data for the establishment, exercise or defence of legal claims.
|
•
|
as required by law or court order; and
|
•
|
as needed to defend or pursue legal claims.
|
1.
|
Your personal data may be transferred to third parties as below:
|
•
|
personal information such as: the Awardee’s name, residence address, date of birth, hire date, work email, work phone number, division code, location code, date of employment termination, and employee identification number;
|
•
|
contact information such as: home address and telephone number; and
|
•
|
financial information such as: any Shares or directorships held in the Company or any Subsidiary or Affiliate, details of all Stock Awards or any other entitlement to Shares or equivalent benefits awarded, canceled, exercised, vested, unvested or outstanding in the Awardee’s favor.
|
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as required by law or court order; and
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as needed to defend or pursue legal claims.
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List A
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List B
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Valid Passport.
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Recent utility bill showing data subject’s current home address (no more than 3 months’ old).
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Valid Photo Driving Licence.
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Recent Bank or Building Society Statement (no more than 3 months’ old).
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the Meidas portal at https://meidas.hr.agilent.com/. Here the Awardee can update their personal information such as home and work addresses, names, birth dates, telephone numbers, email, and tax ID numbers.
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the Fidelity NetBenefits portal at https://nb.fidelity.com/public/nb/default/home. Here the Awardee can update their contribution withholding rates or request to withdraw from the ESPP.
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the Awardee believes that it is no longer necessary for us to hold the personal data the we hold about the Awardee; or
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the Awardee believes the personal data the we hold about the Awardee is being unlawfully processed by us;
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the Awardee believes the personal data is not accurate for the period it takes for us to verify whether the data is accurate;
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we wish to erase the personal data as the processing we are doing is unlawful but the Awardee wants us to simply restrict the use of that data; or
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we no longer need the personal data for the purposes of the processing but the Awardee requires us to retain the data for the establishment, exercise or defence of legal claims.
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as required by law or court order; and
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as needed to defend or pursue legal claims.
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1.
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Your personal data may be transferred to third parties as below:
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a)
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House-Hunting trip:
One trip is allowed for employee and spouse/domestic partner for up to 7 days/6 nights. This includes reasonable lodging (room and tax), transportation, babysitting (for children remaining at home) and per diem to cover meals, phone calls and laundry expenses. This is a taxable benefit and will be tax assisted. The amount of the benefit will be added to the employee’s W-2 as income.
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a)
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Shipment of household goods:
Up to 20,000 lbs from one primary residence, including shipment of two (max. 2) automobiles. Packing and unpacking, delivery to new location, normal appliance disconnections and connections. For internal relocations up to 2 days paid time off for packing of household goods; up to 3 days paid time off for delivery and unpacking of HHG in destination location for internal relocations and New Hires. If necessary, Storage in Transit (SIT) up to a maximum of 30 days
of household goods in the new location. The shipment of goods and 30 days of storage benefit is taxable benefit and will be tax assisted. The amount of the benefit will be added to the employee’s W-2 as income.
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b)
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Final Travel:
Air economy travel one-way (or automobile travel reimbursement at the current mileage rate of $.545/mile, maximum of 2 cars) for employee, spouse/partner and dependent family members who permanently reside with the employee and who will be relocating to the new household. One night lodging and 1 day of per diem of $156.00. This is a taxable benefit and will be tax assisted. The amount of the benefit will be added to the employee’s W-2 as income.
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c)
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Temporary Living Accommodations:
Up to a maximum of 60 consecutive days. Per Diem will be provided at $156.00 if staying in a corporate apartment. If less than 30 days and staying in a hotel per diem is $80.00. Two days of a rental car will be provided; fuel will included in the per diem. This is a taxable benefit and will be tax assisted. The amount of this benefit will be added to the employee’s W-2 as income.
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d)
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Temporary Transportation:
Rental of one automobile up to a maximum of sixty (60) consecutive days, or until personal automobile arrives, whichever is sooner. Fuel will be the responsibility of the employee. This is a taxable benefit and will be tax assisted. The amount of this benefit will be added to the employee’s W-2 as income.
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e)
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Relocation allowance
:
1 month’s base salary (minus taxes) to be disbursed post arrival. This sum is intended to cover a variety of individual relocation expenses not specifically reimbursed such at pet transportation, driver license & registration fees, utility hook-up charges, club membership, etc. This benefit is fully taxable, and taxes are deducted prior to payment through Agilent payroll.
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f)
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Destination Support:
Where available, you and your family will receive the services of a Destination Services provider in the destination location to assist you in finding housing to purchase or rent. This is a taxable benefit and will be tax assisted. The amount of this benefit will be added to the employee’s W-2 as income.
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g)
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Family/Home Visits:
Reimbursement of up to 2 round-trip transportation for you or your family when you precede your famiy to the new work location. 1 trip per month/maximum of 2 trips in first two months. This is a taxable benefit and will be tax assisted. The amount of this benefit will be added to the empoyee’s W-2 as income.
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h)
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Pre Decision Support Consulting:
Before you accept an employment offer Cartus will contact you to explain the relocation provisions and provide on overview of the process.
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i)
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Pre View Trip:
Authorized for you, your spouse/partner for 3 days/2 nights in the destination location to determine if you will accept the relocation.
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j)
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VIP Services:
Your relocation benefits will be coordinated by a Cartus Executive VIP Consultant that is specially trained on Agilent’s “high touch” service and are prepared to respond creatively
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k)
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Mortgage Subsidy:
You are authorized a 4-3-2-1 graduated mortgage interest rate buy down that temporarily subsidizes your mortgage payment on the purchase of a new home in the destination location over a period of 4 years.
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l)
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Mobility Bonus:
You are authorized a onetime payment in the amount of 10% of your annual salary. This benefit is fully taxable, and taxes are deducted prior to payment through Agilent payroll. This payment will be made to you post arrival in the host location.
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Relocation Agreement.
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Organized Under the Laws of
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Agilent Technologies World Trade, Inc.
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Delaware
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Dako A/S
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Denmark
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Agilent Technologies Luxco S.à.r.l.
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Luxembourg
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Agilent Technologies Luxembourg Holding S.à.r.l.
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Luxembourg
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Agilent Technologies Europe B.V.
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Netherlands
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Agilent Technologies Singapore (Holdings) Pte. Ltd.
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Singapore
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Agilent Technologies Singapore (International) Pte. Ltd.
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Singapore
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Agilent Technologies Singapore (Global) Pte Ltd.
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Singapore
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Agilent Technologies Rhone S.à.r.l.
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Switzerland
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1.
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I have reviewed this Form 10-K of Agilent Technologies, Inc.
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2.
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Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
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4.
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The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
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(a)
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Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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(b)
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Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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(c)
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Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
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(d)
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Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
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5.
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The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
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(a)
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All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
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(b)
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
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Date:
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December 20, 2018
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/s/ MICHAEL R. MCMULLEN
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Michael R. McMullen
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Director, President and Chief Executive Officer
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1.
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I have reviewed this Form 10-K of Agilent Technologies, Inc.
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2.
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Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
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4.
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The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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(b)
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Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
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Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
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(d)
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Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
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5.
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The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
(a)
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All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
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(b)
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
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Date:
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December 20, 2018
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/s/ ROBERT W. MCMAHON
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Robert W. McMahon
Senior Vice President and Chief Financial Officer
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(1)
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The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
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(2)
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The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
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Date:
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December 20, 2018
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/s/ MICHAEL R. MCMULLEN
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Michael R. McMullen
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Director, President and Chief Executive Officer
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(1)
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The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
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(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
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Date:
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December 20, 2018
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/s/ ROBERT W. MCMAHON
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Robert W. McMahon
Senior Vice President and Chief Financial Officer
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