OTHER COMPREHENSIVE INCOME ITEMS (Tables)

9 Months Ended

Aug. 02, 2020

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		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		30		(218)		(33)		26		(195)
Amounts reclassified from accumulated other comprehensive income		54				(4)		(1)		49
Net current period other comprehensive income (loss)		84		(218)		(37)		25		(146)
Balance July 28, 2019	$	(3,153)	$	(1,421)	$	(22)	$	15	$	(4,581)
Balance November 3, 2019	$	(3,915)	$	(1,651)	$	(60)	$	19	$	(5,607)
Other comprehensive income (loss) items before reclassification		179		(75)		(14)		22		112
Amounts reclassified from accumulated other comprehensive income		159		8		10		(1)		176
Net current period other comprehensive income (loss)		338		(67)		(4)		21		288
Balance August 2, 2020	$	(3,577)	$	(1,718)	$	(64)	$	40	$	(5,319)

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 August 2, 2020	Amount		Credit		Amount
Cumulative translation adjustment:
Unrealized gain (loss) on translation adjustment	$	321	$	2	$	323
Reclassification of (gain) loss to Other operating expenses		8				8
Net unrealized gain (loss) on translation adjustment		329		2		331
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(1)				(1)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		7		(2)		5
Net unrealized gain (loss) on derivatives		6		(2)		4
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		13		(2)		11
Reclassification of realized (gain) loss – Other income		(1)				(1)
Net unrealized gain (loss) on debt securities		12		(2)		10
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(9)		2		(7)
Reclassification to Other operating expenses through amortization of: *
Actuarial (gain) loss		62		(15)		47
Prior service (credit) cost		3		(1)		2
Settlements		6		(2)		4
OPEB
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		68		(17)		51
Total other comprehensive income (loss)	$	415	$	(19)	$	396

	Before		Tax		After
	Tax		(Expense)		Tax
Nine Months Ended August 2, 2020	Amount		Credit		Amount
Cumulative translation adjustment:
Unrealized gain (loss) on translation adjustment	$	(77)	$	2	$	(75)
Reclassification of (gain) loss to Other operating expenses		8				8
Net unrealized gain (loss) on translation adjustment		(69)		2		(67)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(18)		4		(14)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		13		(3)		10
Net unrealized gain (loss) on derivatives		(5)		1		(4)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		27		(5)		22
Reclassification of realized (gain) loss – Other income		(1)				(1)
Net unrealized gain (loss) on debt securities		26		(5)		21
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(36)		8		(28)
Reclassification to Other operating expenses through amortization of: *
Actuarial (gain) loss		186		(57)		129
Prior service (credit) cost		9		(2)		7
Settlements		12		(3)		9
OPEB
Net actuarial gain (loss)		274		(67)		207
Reclassification to Other operating expenses through amortization of: *
Actuarial (gain) loss		21		(5)		16
Prior service (credit) cost		(3)		1		(2)
Net unrealized gain (loss) on retirement benefits adjustment		463		(125)		338
Total other comprehensive income (loss)	$	415	$	(127)	$	288

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended July 28, 2019	Amount		Credit		Amount
Cumulative translation adjustment	$	27	$	(1)	$	26
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(27)		6		(21)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(1)				(1)
Net unrealized gain (loss) on derivatives		(28)		6		(22)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		13		(2)		11
Reclassification of realized (gain) loss – Other income		(1)				(1)
Net unrealized gain (loss) on debt securities		12		(2)		10
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(3)		1		(2)
Reclassification to Other operating expenses through amortization of: *
Actuarial (gain) loss		35		(9)		26
Prior service (credit) cost		2				2
Settlements		1				1
OPEB
Reclassification to Other operating expense through amortization of: *
Actuarial (gain) loss		4		(1)		3
Prior service (credit) cost		(19)		4		(15)
Net unrealized gain (loss) on retirement benefits adjustment		20		(5)		15
Total other comprehensive income (loss)	$	31	$	(2)	$	29

In the third quarter of 2020 and 2019, the noncontrolling interests’ comprehensive income was none in both periods.

	Before		Tax		After
	Tax		(Expense)		Tax
Nine Months Ended July 28, 2019	Amount		Credit		Amount
Cumulative translation adjustment	$	(217)	$	(1)	$	(218)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(42)		9		(33)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(6)		2		(4)
Net unrealized gain (loss) on derivatives		(48)		11		(37)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		32		(6)		26
Reclassification of realized (gain) loss – Other income		(1)				(1)
Net unrealized gain (loss) on debt securities		31		(6)		25
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(21)		5		(16)
Reclassification to Other operating expenses through amortization of: *
Actuarial (gain) loss		106		(26)		80
Prior service (credit) cost		8		(2)		6
Settlements		1				1
OPEB
Net actuarial gain (loss)		60		(14)		46
Reclassification to Other operating expenses through amortization of: *
Actuarial (gain) loss		12		(3)		9
Prior service (credit) cost		(55)		13		(42)
Net unrealized gain (loss) on retirement benefits adjustment		111		(27)		84
Total other comprehensive income (loss)	$	(123)	$	(23)	$	(146)

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

In the first nine months of 2020 and 2019, the noncontrolling interests’ comprehensive income was $2 million and $3 million, respectively, which consisted of net income.