OTHER COMPREHENSIVE INCOME ITEMS

12 Months Ended

Oct. 30, 2022

OTHER COMPREHENSIVE INCOME ITEMS

OTHER COMPREHENSIVE INCOME ITEMS

23. OTHER COMPREHENSIVE INCOME ITEMS

The after-tax components of accumulated other comprehensive income follow in millions of dollars.

		2022		2021		2020
Retirement benefits adjustment	$	(389)	$	(1,034)	$	(3,918)
Cumulative translation adjustment		(2,594)		(1,478)		(1,596)
Unrealized gain (loss) on derivatives		21		(42)		(58)
Unrealized gain (loss) on debt securities		(94)		15		33
Total accumulated other comprehensive income (loss)	$	(3,056)	$	(2,539)	$	(5,539)

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/curtailment are included in net periodic pension and other postretirement benefit costs (see Note 7).

	Before		Tax		After
	Tax		(Expense)		Tax
	Amount		Credit		Amount
2022
Cumulative translation adjustment	$	(1,105)	$	(11)	$	(1,116)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		89		(19)		70
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(9)		2		(7)
Net unrealized gain (loss) on derivatives		80		(17)		63
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(140)		30		(110)
Reclassification of realized (gain) loss – Other income		1				1
Net unrealized gain (loss) on debt securities		(139)		30		(109)
Retirement benefits adjustment:
Net actuarial gain (loss)		1,192		(298)		894
Prior service credit (cost)		(517)		124		(393)
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		116		(29)		87
Prior service (credit) cost		30		(7)		23
Settlements/curtailments		45		(11)		34
Net unrealized gain (loss) on retirement benefits adjustment		866		(221)		645
Total other comprehensive income (loss)	$	(298)	$	(219)	$	(517)

	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

	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 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