OTHER COMPREHENSIVE INCOME ITEMS (Tables)

9 Months Ended

Jul. 30, 2023

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:

	July 30		October 30		July 31
	2023		2022		2022
Retirement benefits adjustment	$	(656)	$	(389)	$	(1,171)
Cumulative translation adjustment		(1,669)		(2,594)		(2,262)
Unrealized gain (loss) on derivatives		(5)		21		(1)
Unrealized gain (loss) on debt securities		(81)		(94)		(42)
Total accumulated other comprehensive income (loss)	$	(2,411)	$	(3,056)	$	(3,476)

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 July 30, 2023	Amount		Credit		Amount
Cumulative translation adjustment	$	143	$	1	$	144
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		24		(5)		19
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(18)		4		(14)
Net unrealized gain (loss) on derivatives		6		(1)		5
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(16)		3		(13)
Net unrealized gain (loss) on debt securities		(16)		3		(13)
Retirement benefits adjustment:
Net actuarial gain (loss)		(1)				(1)
Reclassification of amortized amounts:
Actuarial (gain) loss – Other operating expenses		(20)		5		(15)
Prior service (credit) cost – Other operating expenses		9		(2)		7
Net unrealized gain (loss) on retirement benefits adjustment		(12)		3		(9)
Total other comprehensive income (loss)	$	121	$	6	$	127

	Before		Tax		After
	Tax		(Expense)		Tax
Nine Months Ended July 30, 2023	Amount		Credit		Amount
Cumulative translation adjustment	$	914	$	11	$	925
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		19		(4)		15
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(52)		11		(41)
Net unrealized gain (loss) on derivatives		(33)		7		(26)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		17		(4)		13
Net unrealized gain (loss) on debt securities		17		(4)		13
Retirement benefits adjustment:
Net actuarial gain (loss)		(351)		83		(268)
Reclassification of amortized amounts:
Actuarial (gain) loss – Other operating expenses		(61)		15		(46)
Prior service (credit) cost – Other operating expenses		28		(7)		21
Settlements – Other operating expenses		36		(10)		26
Net unrealized gain (loss) on retirement benefits adjustment		(348)		81		(267)
Total other comprehensive income (loss)	$	550	$	95	$	645

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended July 31, 2022	Amount		Credit		Amount
Cumulative translation adjustment	$	(267)	$	(2)	$	(269)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		1				1
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(3)		1		(2)
Net unrealized gain (loss) on derivatives		(2)		1		(1)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		6		(1)		5
Reclassification of realized (gain) loss – Other income		1				1
Net unrealized gain (loss) on debt securities		7		(1)		6
Retirement benefits adjustment:
Net actuarial gain (loss)		34		(9)		25
Reclassification of amortized amounts:
Actuarial (gain) loss – Other operating expenses		27		(7)		20
Prior service (credit) cost – Other operating expenses		8		(2)		6
Settlements/curtailment – Other operating expenses		36		(8)		28
Net unrealized gain (loss) on retirement benefits adjustment		105		(26)		79
Total other comprehensive income (loss)	$	(157)	$	(28)	$	(185)

	Before		Tax		After
	Tax		(Expense)		Tax
Nine Months Ended July 31, 2022	Amount		Credit		Amount
Cumulative translation adjustment	$	(774)	$	(10)	$	(784)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		52		(11)		41
Net unrealized gain (loss) on derivatives		52		(11)		41
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(74)		16		(58)
Reclassification of realized (gain) loss – Other income		1				1
Net unrealized gain (loss) on debt securities		(73)		16		(57)
Retirement benefits adjustment:
Net actuarial gain (loss) and prior service credit (cost)		(338)		81		(257)
Reclassification of amortized amounts:
Actuarial (gain) loss – Other operating expenses		94		(24)		70
Prior service (credit) cost – Other operating expenses		22		(6)		16
Settlements/curtailment – Other operating expenses		44		(10)		34
Net unrealized gain (loss) on retirement benefits adjustment		(178)		41		(137)
Total other comprehensive income (loss)	$	(973)	$	36	$	(937)