DISCONTINUED OPERATIONS (Notes) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Discontinued Operations Disclosure | 3. DISCONTINUED OPERATIONS On September 19, 2013, Agilent announced its intention to separate its electronic measurement business, Keysight, which was previously a separate reportable segment, into a stand-alone publicly traded company. Keysight was incorporated in Delaware as a wholly-owned subsidiary of Agilent on December 6, 2013. On November 1, 2014, we completed the distribution of 100% of the outstanding common stock of Keysight to Agilent stockholders, who received one share of Keysight common stock for every two shares of Agilent common stock held as of the close of business on the record date, October 22, 2014. The separation agreement ensured that Keysight had approximately $700 million of total cash and cash equivalents immediately following distribution. For the year ended October 31, 2015, we transferred a total amount of cash and cash equivalents of $734 million to Keysight. The following table summarizes results from discontinued operations of Keysight included in the consolidated statement of operations:
For the year ended October 31, 2015, net income (loss) from discontinued operations includes transaction, information systems and other costs to effect the separation of $39 million. In the year ended October 31, 2015 only those costs incurred to effect the separation of Keysight have been included. No income or expense has been recorded for the Keysight business after separation from Agilent on November 1, 2014. In addition, $332 million of accumulated other comprehensive loss, net of income taxes, primarily related to pension and other post-retirement benefits plans and currency translation was also transferred to Keysight together with $28 million of additional paid in capital related to share based compensation windfall tax benefits. The removal of Keysight net assets and equity related adjustments is presented as a reduction in Agilent's retained earnings and represents a non cash financing activity excluding cash transferred. Under the terms of the Transition Services Agreement, we recorded income for all services provided to Keysight of approximately $12 million in fiscal year 2015. In addition, Agilent expects to receive lease income together with site service income from Keysight over the next 2-3 years of approximately $12 million per year. In the years ended October 31, 2017, 2016 and 2015 other income (expense), net includes $12 million, $12 million and $25 million of income related to the provision of services to, and lease income from Keysight. |
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