Stockholders' Equity

9 Months Ended

Jul. 31, 2020

Taxes related to Other Comprehensive (Loss) Income


	Three months ended July 31,						Nine months ended July 31,
	2020		2019		2020		2019
	In millions



Taxes on change in net unrealized (losses) gains on cash flow hedges:
Tax benefit (provision) on net unrealized (losses) gains arising during the period	$	26	$	(6)	$	(6)	$	(24)
Tax provision (benefit) on net losses (gains) reclassified into earnings	5		7		26		31
	31		1		20		7
Taxes on change in unrealized components of defined benefit plans:
Tax benefit (provision) on net unrealized (losses) gains arising during the period	1		5		1		13
Tax (provision) benefit on amortization of net actuarial loss and prior service benefit	(4)		(3)		(12)		(9)
Tax (provision) benefit on curtailments, settlements and other	—		—		—		(7)
	(3)		2		(11)		(3)
Tax (provision) benefit on change in cumulative translation adjustment	—		(1)		4		—
Tax benefit (provision) on other comprehensive (loss) income	$	28	$	2	$	13	$	4

Changes and reclassifications related to Other Comprehensive (Loss) Income, net of taxes


	Three months ended July 31,						Nine months ended July 31,
	2020		2019		2020		2019
	In millions
Other comprehensive (loss) income, net of taxes:
Change in net unrealized gains (losses) on available-for-sale securities:
Net unrealized gains (losses) arising during the period	$	6	$	3	$	—	$	8
(Gains) losses reclassified into earnings	(1)		—		(8)		(3)
	5		3		(8)		5
Change in net unrealized (losses) gains on cash flow hedges:
Net unrealized (losses) gains arising during the period	(430)		57		(91)		201
Net losses (gains) reclassified into earnings	247		(51)		(15)		(228)
	(183)		6		(106)		(27)
Change in unrealized components of defined benefit plans:
Net unrealized (losses) gains arising during the period	(18)		(26)		(9)		(65)
Amortization of net actuarial loss and prior service benefit	57		51		171		152
Curtailments, settlements and other	7		5		8		5
	46		30		170		92
Change in cumulative translation adjustment	1		(9)		(42)		(2)
Other comprehensive (loss) income, net of taxes	$	(131)	$	30	$	14	$	68

The components of Accumulated other comprehensive loss, net of taxes as of July 31, 2020, and changes during the nine months ended July 31, 2020 were as follows:


	Net unrealized gains (losses) on available-for-sale securities		Net unrealized gains (losses) on cash flow hedges		Unrealized components of defined benefit plans		Cumulative translation adjustment		Accumulated other comprehensive loss
	In millions
Balance at beginning of period	$	23	$	53	$	(3,366)	$	(437)	$	(3,727)
Effect of change in accounting principle ⁽¹⁾	—		(10)		—		(33)		(43)
Other comprehensive (loss) income before reclassifications	—		(91)		(9)		(42)		(142)
Reclassifications of (gains) losses into earnings	(8)		(15)		179		—		156
Balance at end of period	$	15	$	(63)	$	(3,196)	$	(512)	$	(3,756)

(1)Reflects the adoption of the FASB guidance on stranded tax effects. For more information, see Note 1 "Overview and Summary of Significant Accounting Policies".

Share Repurchase Program

For the nine months ended July 31, 2020, the Company repurchased and settled a total of 25.3 million shares under its share repurchase program through open market repurchases, which included 0.5 million shares that were unsettled open market repurchases as of October 31, 2019. As of July 31, 2020, the Company had no unsettled open market repurchases of shares. Shares repurchased during the nine months ended July 31, 2020 were recorded as a $346 million reduction to stockholders' equity. As of July 31, 2020, the Company had a remaining authorization of $2.1 billion for future share repurchases.

On April 6, 2020, the Company announced that it suspended purchases under its share repurchase program in response to the global economic uncertainty that resulted from the worldwide spread of COVID-19.