OTHER COMPREHENSIVE INCOME ITEMS

12 Months Ended

Oct. 31, 2014

OTHER COMPREHENSIVE INCOME ITEMS

OTHER COMPREHENSIVE INCOME ITEMS

25. OTHER COMPREHENSIVE INCOME ITEMS

The after-tax changes in accumulated other comprehensive income at October 31 in millions of dollars follow:

							Unrealized			Unrealized			Total
	Retirement			Cumulative			Gain (Loss)			Gain (Loss)			Accumulated Other
	Benefits			Translation			on			on			Comprehensive
	Adjustment			Adjustment			Derivatives			Investments			Income (Loss)
2011		$	(4,135)		$	454		$	(9)		$	12		$	(3,678)
Period Change		(624)			(270)			(5)			5			(894)
2012		(4,759)			184			(14)			17			(4,572)
Period Change		1,950			(71)			11			(11)			1,879
2013		(2,809)			113			(3)			6			(2,693)
Period Change		(684)			(416)			3			7			(1,090)
2014		$	(3,493)		$	(303)					$	13		$	(3,783)

Following are amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects, in millions of dollars:

	Before Tax Amount		Tax (Expense) Credit		After Tax Amount
2014
Cumulative translation adjustment:
Unrealized (loss) on translation adjustment	$	(427)	$	2	$	(425)
Reclassification of loss to Other operating expenses*	9				9
Net unrealized (loss) on translation adjustment	(418)		2		(416)
Unrealized gain (loss) on derivatives:
Unrealized hedging (loss)	(14)		5		(9)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense	13		(5)		8
Foreign exchange contracts – Other operating expenses	6		(2)		4
Net unrealized gain on derivatives	5		(2)		3
Unrealized gain (loss) on investments:
Unrealized holding gain	10		(3)		7
Net unrealized gain on investments	10		(3)		7
Retirement benefits adjustment:
Pensions
Net actuarial (loss)	(940)		343		(597)
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income:**
Actuarial loss	177		(64)		113
Prior service cost	25		(9)		16
Settlements/curtailments	9		(3)		6

	Before Tax Amount		Tax (Expense) Credit		After Tax Amount
Health care and life insurance
Net actuarial (loss) and prior service credit	$	(378)	$	138	$	(240)
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income:**
Actuarial loss	33		(12)		21
Prior service (credit)	(3)		1		(2)
Settlements/curtailments	(1)				(1)
Net unrealized (loss) on retirement benefits adjustment	(1,078)		394		(684)
Total other comprehensive income (loss)	$	(1,481)	$	391	$	(1,090)

* Represents the accumulated translation adjustments related to the foreign subsidiaries of the Water operations that were sold (see Note 4).

** These accumulated other comprehensive income amounts are included in net periodic postretirement costs. See Note 7 for additional detail.

2013
Cumulative translation adjustment	$	(74)	$	3	$	(71)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain	43		(14)		29
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense	22		(8)		14
Foreign exchange contracts – Other operating expenses	(49)		17		(32)
Net unrealized gain on derivatives	16		(5)		11
Unrealized gain (loss) on investments:
Unrealized holding (loss)	(17)		6		(11)
Net unrealized (loss) on investments	(17)		6		(11)
Retirement benefits adjustment:
Pensions
Net actuarial gain and prior service credit	1,507		(552)		955
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income:*
Actuarial loss	265		(101)		164
Prior service cost	12		(6)		6
Settlements/curtailments	2				2
Health care and life insurance
Net actuarial gain and prior service credit	1,167		(426)		741
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income:*
Actuarial loss	141		(54)		87
Prior service (credit)	(8)		3		(5)
Net unrealized gain on retirement benefits adjustment	3,086		(1,136)		1,950
Total other comprehensive income (loss)	$	3,011	$	(1,132)	$	1,879

* These accumulated other comprehensive income amounts are included in net periodic postretirement costs. See Note 7 for additional detail.

	Before Tax Amount		Tax (Expense) Credit		After Tax Amount
2012
Cumulative translation adjustment	$	(272)	$	2	$	(270)
Unrealized gain (loss) on derivatives:
Unrealized hedging (loss)	(61)		21		(40)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense	16		(6)		10
Foreign exchange contracts – Other operating expenses	38		(13)		25
Net unrealized (loss) on derivatives	(7)		2		(5)
Unrealized gain (loss) on investments:
Unrealized holding gain	7		(2)		5
Net unrealized gain on investments	7		(2)		5
Retirement benefits adjustment:
Pensions
Net actuarial (loss) and prior service (cost)	(1,004)		359		(645)
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income:*
Actuarial loss	202		(73)		129
Prior service cost	47		(17)		30
Settlements/curtailments	10		(2)		8
Health care and life insurance
Net actuarial (loss) and prior service (cost)	(337)		118		(219)
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income:*
Actuarial loss	136		(54)		82
Prior service (credit)	(15)		6		(9)
Net unrealized (loss) on retirement benefits adjustment	(961)		337		(624)
Total other comprehensive income (loss)	$	(1,233)	$	339	$	(894)

* These accumulated other comprehensive income amounts are included in net periodic postretirement costs. See Note 7 for additional detail.

The noncontrolling interests’ comprehensive income was $1.3 million in 2014, $.4 million in 2013 and $6.6 million in 2012, which consisted of net income of $1.6 million in 2014, $.3 million in 2013 and $6.9 million in 2012 and cumulative translation adjustments of $(.3) million in 2014, $.1 million in 2013 and $(.3) million in 2012.