OTHER COMPREHENSIVE INCOME ITEMS

12 Months Ended

Nov. 01, 2020

OTHER COMPREHENSIVE INCOME ITEMS

OTHER COMPREHENSIVE INCOME ITEMS

24. OTHER COMPREHENSIVE INCOME ITEMS

The after-tax changes in accumulated other comprehensive income at October 29, 2017, October 28, 2018, November 3, 2019, and November 1, 2020 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)
2017	$	(3,580)	$	(999)	$	5	$	10	$	(4,564)
Period Change		1,052		(194)		9		(13)		854
ASU No. 2018-02		(709)		(10)		1		1		(717)
2018		(3,237)		(1,203)		15		(2)		(4,427)
ASU No. 2016-01								(8)		(8)
Period Change		(678)		(448)		(75)		29		(1,172)
2019		(3,915)		(1,651)		(60)		19		(5,607)
Period Change		(3)		55		2		14		68
2020	$	(3,918)	$	(1,596)	$	(58)	$	33	$	(5,539)

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
	Amount		Credit		Amount
2020
Cumulative translation adjustment:
Unrealized translation gain (loss)	$	18	$	1	$	19
Reclassification of realized (gain) loss to:
Other operating expenses		13				13
Equity in (income) loss of unconsolidated affiliates		23				23
Net unrealized translation gain (loss)		54		1		55
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(18)		2		(16)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		21		(3)		18
Net unrealized gain (loss) on derivatives		3		(1)		2
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		17		(3)		14
Net unrealized gain (loss) on debt securities		17		(3)		14
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(438)		99		(339)
Reclassification primarily to other operating expenses through amortization of: *
Actuarial (gain) loss		249		(61)		188
Prior service (credit) cost		11		(3)		8
Settlements		26		(7)		19
OPEB
Net actuarial gain (loss)		136		(34)		102
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		29		(7)		22
Prior service (credit) cost		(4)		1		(3)
Net unrealized gain (loss) on retirement benefits adjustment		9		(12)		(3)
Total other comprehensive income (loss)	$	83	$	(15)	$	68

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

	Before		Tax		After
	Tax		(Expense)		Tax
	Amount		Credit		Amount
2019
Cumulative translation adjustment	$	(447)	$	(1)	$	(448)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(92)		21		(71)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(5)		1		(4)
Net unrealized gain (loss) on derivatives		(97)		22		(75)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		36		(7)		29
Net unrealized gain (loss) on debt securities		36		(7)		29
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(887)		236		(651)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		143		(35)		108
Prior service (credit) cost		11		(2)		9
Settlements		3		(1)		2
OPEB
Net actuarial gain (loss)		(141)		38		(103)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		16		(4)		12
Prior service (credit) cost		(72)		17		(55)
Net unrealized gain (loss) on retirement benefits adjustment		(927)		249		(678)
Total other comprehensive income (loss)	$	(1,435)	$	263	$	(1,172)

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

	Before		Tax		After
	Tax		(Expense)		Tax
	Amount		Credit		Amount
2018
Cumulative translation adjustment	$	(188)	$	(6)	$	(194)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		18		(4)		14
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(5)		1		(4)
Foreign exchange contracts – Other operating expenses		(1)				(1)
Net unrealized gain (loss) on derivatives		12		(3)		9
Unrealized gain (loss) on investments:
Unrealized holding gain (loss)		(17)		5		(12)
Reclassification of realized (gain) loss – Other income		(1)				(1)
Net unrealized gain (loss) on investments		(18)		5		(13)
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		553		(128)		425
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		226		(63)		163
Prior service (credit) cost		12		(4)		8
Settlements		8		(2)		6
OPEB
Net actuarial gain (loss) and prior service credit (cost)		603		(142)		461
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		62		(17)		45
Prior service (credit) cost		(77)		21		(56)
Net unrealized gain (loss) on retirement benefits adjustment		1,387		(335)		1,052
Total other comprehensive income (loss)	$	1,193	$	(339)	$	854

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

The noncontrolling interests’ comprehensive income was $2 million in 2020, $4 million in 2019, and $2 million in 2018, which consisted of net income of $2 million in 2020, $4 million in 2019, and $3 million in 2018 and cumulative translation adjustments of none in 2020 and 2019, and $(1) million in 2018.