OTHER COMPREHENSIVE INCOME ITEMS

3 Months Ended

Feb. 02, 2020

OTHER COMPREHENSIVE INCOME ITEMS

OTHER COMPREHENSIVE INCOME ITEMS

(5)  Other Comprehensive Income Items

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		Debt Securities		Income (Loss)
Balance October 28, 2018	$	(3,237)	$	(1,203)	$	15	$	(2)	$	(4,427)
ASU No. 2016-01 adoption								(8)		(8)
Other comprehensive income (loss) items before reclassification		1		(162)		(7)		8		(160)
Amounts reclassified from accumulated other comprehensive income		19				(2)				17
Net current period other comprehensive income (loss)		20		(162)		(9)		8		(143)
Balance January 27, 2019	$	(3,217)	$	(1,365)	$	6	$	(2)	$	(4,578)
Balance November 3, 2019	$	(3,915)	$	(1,651)	$	(60)	$	19	$	(5,607)
Other comprehensive income (loss) items before reclassification		186		43		(1)		5		233
Amounts reclassified from accumulated other comprehensive income		44				1				45
Net current period other comprehensive income (loss)		230		43				5		278
Balance February 2, 2020	$	(3,685)	$	(1,608)	$	(60)	$	24	$	(5,329)

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 February 2, 2020	Amount		Credit		Amount
Cumulative translation adjustment	$	43			$	43
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(2)	$	1		(1)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		2		(1)		1
Net unrealized gain (loss) on derivatives
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		6		(1)		5
Net unrealized gain (loss) on debt securities		6		(1)		5
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		1				1
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		62		(26)		36
Prior service (credit) cost		3		(1)		2
Settlements		3		(1)		2
OPEB
Net actuarial gain (loss)		245		(60)		185
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		7		(2)		5
Prior service (credit) cost		(1)				(1)
Net unrealized gain (loss) on retirement benefits adjustment		320		(90)		230
Total other comprehensive income (loss)	$	369	$	(91)	$	278

(continued)

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended January 27, 2019	Amount		Credit		Amount
Cumulative translation adjustment	$	(162)			$	(162)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(9)	$	2		(7)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(2)				(2)
Net unrealized gain (loss) on derivatives		(11)		2		(9)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		10		(2)		8
Net unrealized gain (loss) on debt securities		10		(2)		8
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		1				1
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		35		(8)		27
Prior service (credit) cost		3		(1)		2
OPEB
Reclassification to other operating expense through amortization of: *
Actuarial (gain) loss		5		(1)		4
Prior service (credit) cost		(18)		4		(14)
Net unrealized gain (loss) on retirement benefits adjustment		26		(6)		20
Total other comprehensive income (loss)	$	(137)	$	(6)	$	(143)

* These accumulated other comprehensive income amounts are included in net periodic pension and OPEB costs. See Note 8 for additional detail.

In the first quarter of 2020 and 2019, the noncontrolling interests’ comprehensive income was $1 million and $2 million, respectively, which consisted of net income.