OTHER COMPREHENSIVE INCOME ITEMS (Tables)

12 Months Ended

Oct. 31, 2021

OTHER COMPREHENSIVE INCOME ITEMS

Schedule of After-Tax Components of Accumulated Other Comprehensive Income

The after-tax components of accumulated other comprehensive income at October 31, 2021, November 1, 2020, and November 3, 2019 in millions of dollars follow:

		2021		2020		2019
Retirement benefits adjustment	$	(1,034)	$	(3,918)	$	(3,915)
Cumulative translation adjustment		(1,478)		(1,596)		(1,651)
Unrealized loss on derivatives		(42)		(58)		(60)
Unrealized gain on debt securities		15		33		19
Total accumulated other comprehensive income (loss)	$	(2,539)	$	(5,539)	$	(5,607)

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
	Amount		Credit		Amount
2021
Cumulative translation adjustment:
Unrealized translation gain (loss)	$	112			$	112
Reclassification of realized (gain) loss to:
Equity in (income) loss of unconsolidated affiliates		6				6
Net unrealized translation gain (loss)		118				118
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		8	$	(2)		6
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		13		(3)		10
Net unrealized gain (loss) on derivatives		21		(5)		16
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(21)		3		(18)
Net unrealized gain (loss) on debt securities		(21)		3		(18)
Retirement benefits adjustment:
Net actuarial gain (loss)		3,492		(845)		2,647
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		283		(69)		214
Prior service (credit) cost		8		(2)		6
Settlements		22		(5)		17
Net unrealized gain (loss) on retirement benefits adjustment		3,805		(921)		2,884
Total other comprehensive income (loss)	$	3,923	$	(923)	$	3,000

*    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
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:
Net actuarial gain (loss)		(302)		65		(237)
Reclassification primarily to other operating expenses through amortization of: *
Actuarial (gain) loss		278		(68)		210
Prior service (credit) cost		7		(2)		5
Settlements		26		(7)		19
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:
Net actuarial gain (loss)		(1,028)		274		(754)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		159		(39)		120
Prior service (credit) cost		(61)		15		(46)
Settlements		3		(1)		2
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.