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OTHER COMPREHENSIVE INCOME ITEMS (Tables)
6 Months Ended
Apr. 30, 2016
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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

 

 

    

 

 

    

Total

 

 

 

 

 

 

 

 

Unrealized

 

Unrealized

 

Accumulated

 

 

 

Retirement

 

Cumulative

 

Gain (Loss)

 

Gain (Loss)

 

Other

 

 

 

Benefits

 

Translation

 

on

 

on

 

Comprehensive

 

 

 

Adjustment

 

Adjustment

 

Derivatives

 

Investments

 

Income (Loss)

 

Balance October 31, 2014

 

$

(3,493)

 

$

(303)

 

 

 

 

$

13

 

$

(3,783)

 

Other comprehensive income (loss) items before reclassification

 

 

(20)

 

 

(577)

 

$

(2)

 

 

5

 

 

(594)

 

Amounts reclassified from accumulated other comprehensive income

 

 

83

 

 

 

 

 

2

 

 

(2)

 

 

83

 

Net current period other comprehensive income (loss)

 

 

63

 

 

(577)

 

 

 

 

 

3

 

 

(511)

 

Balance April 30, 2015

 

$

(3,430)

 

$

(880)

 

 

 

 

$

16

 

$

(4,294)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance October 31, 2015

 

$

(3,501)

 

$

(1,238)

 

$

(2)

 

$

12

 

$

(4,729)

 

Other comprehensive income (loss) items before reclassification

 

 

(18)

 

 

154

 

 

(1)

 

 

(1)

 

 

134

 

Amounts reclassified from accumulated other comprehensive income

 

 

75

 

 

 

 

 

2

 

 

(1)

 

 

76

 

Net current period other comprehensive income (loss)

 

 

57

 

 

154

 

 

1

 

 

(2)

 

 

210

 

Balance April 30, 2016

 

$

(3,444)

 

$

(1,084)

 

$

(1)

 

$

10

 

$

(4,519)

 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Before

    

Tax

    

After

 

 

 

Tax

 

(Expense)

 

Tax

 

Three Months Ended April 30, 2016

 

Amount

 

Credit

 

Amount

 

Cumulative translation adjustment

 

$

312

 

 

 

 

$

312

 

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

 

Unrealized hedging gain (loss)

 

 

(1)

 

$

1

 

 

 

 

Reclassification of realized (gain) loss to:

 

 

 

 

 

 

 

 

 

 

Interest rate contracts – Interest expense

 

 

2

 

 

(1)

 

 

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)

 

 

9

 

 

 

 

 

9

 

Reclassification of realized (gain) loss – Other income

 

 

(1)

 

 

1

 

 

 

 

Net unrealized gain (loss) on investments

 

 

8

 

 

1

 

 

9

 

Retirement benefits adjustment:

 

 

 

 

 

 

 

 

 

 

Pensions

 

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

 

(14)

 

 

5

 

 

(9)

 

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

 

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

 

52

 

 

(19)

 

 

33

 

Prior service (credit) cost

 

 

4

 

 

(1)

 

 

3

 

Settlements/curtailments

 

 

2

 

 

(1)

 

 

1

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

 

(11)

 

 

4

 

 

(7)

 

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

 

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

 

18

 

 

(7)

 

 

11

 

Prior service (credit) cost

 

 

(20)

 

 

7

 

 

(13)

 

Net unrealized gain (loss) on retirement benefits adjustments

 

 

31

 

 

(12)

 

 

19

 

Total other comprehensive income (loss)

 

$

353

 

$

(12)

 

$

341

 

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

 

 

 

 

 

 

 

 

 

 

 

 

    

Before

    

Tax

    

After

 

 

 

Tax

 

(Expense)

 

Tax

 

Six Months Ended April 30, 2016

 

Amount

 

Credit

 

Amount

 

Cumulative translation adjustment

 

$

154

 

 

 

 

$

154

 

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

 

Unrealized hedging gain (loss)

 

 

(2)

 

$

1

 

 

(1)

 

Reclassification of realized (gain) loss to:

 

 

 

 

 

 

 

 

 

 

Interest rate contracts – Interest expense

 

 

5

 

 

(2)

 

 

3

 

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)

 

 

(1)

 

 

 

 

 

(1)

 

Reclassification of realized (gain) loss – Other income

 

 

(2)

 

 

1

 

 

(1)

 

Net unrealized gain (loss) on investments

 

 

(3)

 

 

1

 

 

(2)

 

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

 

 

104

 

 

(38)

 

 

66

 

Prior service (credit) cost

 

 

8

 

 

(3)

 

 

5

 

Settlements/curtailments

 

 

9

 

 

(3)

 

 

6

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

 

Net actuarial gain (loss)

 

 

(11)

 

 

4

 

 

(7)

 

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

 

 

 

 

 

 

 

 

 

 

Actuarial (gain) loss

 

 

37

 

 

(14)

 

 

23

 

Prior service (credit) cost

 

 

(39)

 

 

14

 

 

(25)

 

Net unrealized gain (loss) on retirement benefits adjustments

 

 

91

 

 

(34)

 

 

57

 

Total other comprehensive income (loss)

 

$

244

 

$

(34)

 

$

210

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Before

    

Tax

    

After

 

 

 

Tax

 

(Expense)

 

Tax

 

Three Months Ended April 30, 2015

 

Amount

 

Credit

 

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.

In the second quarter of 2016 and 2015, the noncontrolling interests’ comprehensive income (loss) was $(.6) million and $.3 million, respectively, which consisted of net income (loss) of $(.7) million and $.3 million and cumulative translation adjustments of $.1 million and none, respectively.

 

 

 

 

 

 

 

 

 

 

 

 

    

Before

    

Tax

    

After

 

 

 

Tax

 

(Expense)

 

Tax

 

Six Months Ended April 30, 2015

 

Amount

 

Credit

 

Amount

 

Cumulative translation adjustment

 

$

(575)

 

$

(2)

 

$

(577)

 

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

 

Unrealized hedging (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.

In the first six months of 2016 and 2015, the noncontrolling interests’ comprehensive income (loss) was $(1.2) million and $.2 million, respectively, which consisted of net income (loss) of $(1.3) million and $.5 million and cumulative translation adjustments of $.1 million and $(.3) million, respectively.