OTHER COMPREHENSIVE INCOME ITEMS (Tables)

6 Months Ended

May 01, 2022

OTHER COMPREHENSIVE INCOME ITEMS

Schedule of After-Tax Components of Accumulated Other Comprehensive Income (Loss)

The after-tax components of accumulated other comprehensive income (loss) in millions of dollars follow:

	May 1		October 31		May 2
	2022		2021		2021
Retirement benefits adjustment	$	(1,250)	$	(1,034)	$	(3,764)
Cumulative translation adjustment		(1,993)		(1,478)		(1,163)
Unrealized loss on derivatives				(42)		(51)
Unrealized gain (loss) on debt securities		(48)		15		18
Total accumulated other comprehensive income (loss)	$	(3,291)	$	(2,539)	$	(4,960)

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. Retirement benefits adjustment reclassifications for actuarial gain (loss), prior service (credit) cost, and settlements are included in net periodic pension and other postretirement benefit costs (see Note 6).

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended May 1, 2022	Amount		Credit		Amount
Cumulative translation adjustment	$	(243)	$	(5)	$	(248)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		35		(7)		28
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		1		(1)
Net unrealized gain (loss) on derivatives		36		(8)		28
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(61)		13		(48)
Net unrealized gain (loss) on debt securities		(61)		13		(48)
Retirement benefits adjustment:
Net actuarial gain (loss)		128		(30)		98
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		27		(7)		20
Prior service (credit) cost		8		(2)		6
Settlements		7		(2)		5
Net unrealized gain (loss) on retirement benefits adjustment		170		(41)		129
Total other comprehensive income (loss)	$	(98)	$	(41)	$	(139)

	Before		Tax		After
	Tax		(Expense)		Tax
Six Months Ended May 1, 2022	Amount		Credit		Amount
Cumulative translation adjustment	$	(507)	$	(8)	$	(515)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		50		(10)		40
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		3		(1)		2
Net unrealized gain (loss) on derivatives		53		(11)		42
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(80)		17		(63)
Net unrealized gain (loss) on debt securities		(80)		17		(63)
Retirement benefits adjustment:
Net actuarial gain (loss)		(372)		90		(282)
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		67		(17)		50
Prior service (credit) cost		14		(4)		10
Settlements		8		(2)		6
Net unrealized gain (loss) on retirement benefits adjustment		(283)		67		(216)
Total other comprehensive income (loss)	$	(817)	$	65	$	(752)

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended May 2, 2021	Amount		Credit		Amount
Cumulative translation adjustment	$	37			$	37
Unrealized gain (loss) on derivatives:
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		4	$	(1)		3
Net unrealized gain (loss) on derivatives		4		(1)		3
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(14)		1		(13)
Net unrealized gain (loss) on debt securities		(14)		1		(13)
Retirement benefits adjustment:
Net actuarial gain (loss)		41		(9)		32
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		72		(19)		53
Prior service (credit) cost		2				2
Settlements		5		(1)		4
Net unrealized gain (loss) on retirement benefits adjustment		120		(29)		91
Total other comprehensive income (loss)	$	147	$	(29)	$	118

	Before		Tax		After
	Tax		(Expense)		Tax
Six Months Ended May 2, 2021	Amount		Credit		Amount
Cumulative translation adjustment	$	431	$	2	$	433
Unrealized gain (loss) on derivatives:
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		9		(2)		7
Net unrealized gain (loss) on derivatives		9		(2)		7
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(17)		2		(15)
Net unrealized gain (loss) on debt securities		(17)		2		(15)
Retirement benefits adjustment:
Net actuarial gain (loss)		40		(9)		31
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		142		(36)		106
Prior service (credit) cost		4		(1)		3
Settlements		18		(4)		14
Net unrealized gain (loss) on retirement benefits adjustment		204		(50)		154
Total other comprehensive income (loss)	$	627	$	(48)	$	579