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OTHER COMPREHENSIVE INCOME ITEMS (Tables)
6 Months Ended
Apr. 30, 2015
OTHER COMPREHENSIVE INCOME ITEMS  
Schedule of After-Tax Changes in Accumulated Other Comprehensive Income (Loss)

The after-tax changes in accumulated other comprehensive income (loss) in millions of dollars follow:

 

 

 

Retirement
Benefits
Adjustment

 

Cumulative
Translation
Adjustment

 

Unrealized
Gain (Loss)
on
Derivatives

 

Unrealized
Gain (Loss)
on
Investments

 

Total
Accumulated
Other
Comprehensive
Income (Loss)

Balance October 31, 2014

 

$

(3,493)

 

$

(303)

 

 

 

$

13 

 

$

(3,783)

Other comprehensive income (loss) items before reclassification

 

(20)

 

(577)

 

$

(2)

 

 

(594)

Amounts reclassified from accumulated other comprehensive income

 

83 

 

 

 

 

(2)

 

83 

Net current period other comprehensive income (loss)

 

63 

 

(577)

 

 

 

 

(511)

Balance April 30, 2015

 

$

(3,430)

 

$

(880)

 

 

 

$

16 

 

$

(4,294)

 

 

 

 

 

 

 

 

 

 

 

Balance October 31, 2013

 

$

(2,809)

 

$

113 

 

$

(3)

 

$

 

$

(2,693)

Other comprehensive income (loss) items before reclassification

 

12 

 

(62)

 

(7)

 

 

(56)

Amounts reclassified from accumulated other comprehensive income

 

76 

 

 

 

 

 

 

85 

Net current period other comprehensive income (loss)

 

88 

 

(62)

 

 

 

29 

Balance April 30, 2014

 

$

(2,721)

 

$

51 

 

$

(1)

 

$

 

$

(2,664)

 

Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects

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

 

Three Months April 30, 2015

 

Before
Tax
Amount

 

 

Tax
(Expense)
Credit

 

 

After
Tax
Amount

 

Cumulative translation adjustment:

 

$

(67

)

 

 

 

 

$

(67

)

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

Reclassification of realized (gain) loss to:

 

 

 

 

 

 

 

 

 

Interest rate contracts – Interest expense

 

3

 

 

$

(2

)

 

1

 

Foreign exchange contracts – Other operating expense

 

(1

)

 

1

 

 

 

 

Net unrealized gain (loss) on derivatives

 

2

 

 

(1

)

 

1

 

Unrealized gain (loss) on investments:

 

 

 

 

 

 

 

 

 

Unrealized holding gain (loss)

 

(5

)

 

2

 

 

(3

)

Reclassification of realized (gain) loss – Other income

 

(2

)

 

1

 

 

(1

)

Net unrealized gain (loss) on investments

 

(7

)

 

3

 

 

(4

)

Retirement benefits adjustment:

 

 

 

 

 

 

 

 

 

Pensions

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

(17

)

 

6

 

 

(11

)

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

55

 

 

(20

)

 

35

 

Prior service (credit) cost

 

6

 

 

(3

)

 

3

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

(12

)

 

3

 

 

(9

)

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

23

 

 

(8

)

 

15

 

Prior service (credit) cost

 

(19

)

 

7

 

 

(12

)

Net unrealized gain (loss) on retirement benefits adjustments

 

36

 

 

(15

)

 

21

 

Total other comprehensive income (loss)

 

$

(36

)

 

$

(13

)

 

$

(49

)

 

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

 

Six Months Ended April 30, 2015

 

Before
Tax
Amount

 

Tax
(Expense)
Credit

 

After
Tax
Amount

Cumulative translation adjustment:

 

$

(575

)

 

$

(2

)

 

$

(577

)

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

Unrealized hedging gain (loss)

 

(4

)

 

2

 

 

(2

)

Reclassification of realized (gain) loss to:

 

 

 

 

 

 

 

 

 

Interest rate contracts – Interest expense

 

6

 

 

(2

)

 

4

 

Foreign exchange contracts – Other operating expense

 

(2

)

 

 

 

 

(2

)

Net unrealized gain (loss) on derivatives

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on investments:

 

 

 

 

 

 

 

 

 

Unrealized holding gain (loss)

 

8

 

 

(3

)

 

5

 

Reclassification of realized (gain) loss – Other income

 

(4

)

 

2

 

 

(2

)

Net unrealized gain (loss) on investments

 

4

 

 

(1

)

 

3

 

Retirement benefits adjustment:

 

 

 

 

 

 

 

 

 

Pensions

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

(17

)

 

6

 

 

(11

)

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

110

 

 

(40

)

 

70

 

Prior service (credit) cost

 

12

 

 

(5

)

 

7

 

Settlements/curtailments

 

1

 

 

 

 

 

1

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

(12

)

 

3

 

 

(9

)

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

46

 

 

(17

)

 

29

 

Prior service (credit) cost

 

(38

)

 

14

 

 

(24

)

Net unrealized gain (loss) on retirement benefits adjustments

 

102

 

 

(39

)

 

63

 

Total other comprehensive income (loss)

 

$

(469

)

 

$

(42

)

 

$

(511

)

 

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

 

Three Months April 30, 2014

 

Before
Tax
Amount

 

Tax
(Expense)
Credit

 

After
Tax
Amount

Cumulative translation adjustment:

 

$

107

 

 

 

 

 

$

107

 

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

Unrealized hedging gain (loss)

 

(5

)

 

$

1

 

 

(4

)

Reclassification of realized (gain) loss to:

 

 

 

 

 

 

 

 

 

Interest rate contracts – Interest expense

 

3

 

 

(1

)

 

2

 

Foreign exchange contracts – Other operating expense

 

1

 

 

 

 

 

1

 

Net unrealized gain (loss) on derivatives

 

(1

)

 

 

 

 

(1

)

Unrealized gain (loss) on investments:

 

 

 

 

 

 

 

 

 

Unrealized holding gain (loss)

 

4

 

 

(2

)

 

2

 

Net unrealized gain (loss) on investments

 

4

 

 

(2

)

 

2

 

Retirement benefits adjustment:

 

 

 

 

 

 

 

 

 

Pensions

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

(39

)

 

15

 

 

(24

)

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

43

 

 

(16

)

 

27

 

Prior service (credit) cost

 

6

 

 

(3

)

 

3

 

Settlements/curtailments

 

4

 

 

(1

)

 

3

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

39

 

 

(15

)

 

24

 

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

8

 

 

(3

)

 

5

 

Prior service (credit) cost

 

(1

)

 

1

 

 

 

 

Net unrealized gain (loss) on retirement benefits adjustments

 

60

 

 

(22

)

 

38

 

Total other comprehensive income (loss)

 

$

170

 

 

$

(24

)

 

$

146

 

 

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

 

In the second quarter of 2015 and 2014, the noncontrolling interests’ comprehensive income was $.3 million and $.5 million, respectively, which consisted of net income of $.3 million in 2015 and $.5 million in 2014.

 

Six Months Ended April 30, 2014

 

Before
Tax
Amount

 

Tax
(Expense)
Credit

 

After
Tax
Amount

Cumulative translation adjustment:

 

$

(63

)

 

$

1

 

 

$

(62

)

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

Unrealized hedging gain (loss)

 

(10

)

 

3

 

 

(7

)

Reclassification of realized (gain) loss to:

 

 

 

 

 

 

 

 

 

Interest rate contracts – Interest expense

 

8

 

 

(3

)

 

5

 

Foreign exchange contracts – Other operating expense

 

6

 

 

(2

)

 

4

 

Net unrealized gain (loss) on derivatives

 

4

 

 

(2

)

 

2

 

Unrealized gain (loss) on investments:

 

 

 

 

 

 

 

 

 

Unrealized holding gain (loss)

 

1

 

 

 

 

 

1

 

Net unrealized gain (loss) on investments

 

1

 

 

 

 

 

1

 

Retirement benefits adjustment:

 

 

 

 

 

 

 

 

 

Pensions

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

(20

)

 

8

 

 

(12

)

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

86

 

 

(31

)

 

55

 

Prior service (credit) cost

 

12

 

 

(5

)

 

7

 

Settlements/curtailments

 

6

 

 

(2

)

 

4

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

39

 

 

(15

)

 

24

 

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

17

 

 

(6

)

 

11

 

Prior service (credit) cost

 

(2

)

 

1

 

 

(1

)

Net unrealized gain (loss) on retirement benefits adjustments

 

138

 

 

(50

)

 

88

 

Total other comprehensive income (loss)

 

$

80

 

 

$

(51

)

 

$

29

 

 

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

 

In the first six months of 2015, the noncontrolling interests’ comprehensive income was $.2 million, which consisted of net income of $.5 million and cumulative translation adjustments of $(.3) million.  In the first six months of 2014, the noncontrolling interests’ comprehensive income was $.7 million, which consisted of net income of $.7 million.