please summarize the following passage into under 100 wordsP62 Long-term investments generally mature within 5 years Proceeds from sales of securities were $726 million $1341 million and $1774 million
The company's long-term investments typically mature within five years, with proceeds from securities sales decreasing over the past three fiscal years. The company's realized gains and losses were not significant for the same period, and gross unrealized holding gains and losses were not material as of October 2022 and October 2021. The company's commercial paper program allows for the issuance of unsecured commercial paper notes up to $3 billion, with maturities not exceeding 397 days. As of October 2022, the company had $175 million in borrowings outstanding under the program, while there were no borrowings outstanding as of October 2021. The proceeds from the program can be used for various corporate purposes, including capital expenditures and share repurchases.
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