Other Comprehensive Income Items

6 Months Ended

May 01, 2022

Other Comprehensive Income Items

Other Comprehensive Income Items

(3)  Other Comprehensive Income Items

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

	May 1		October 31		May 2
	2022		2021		2021
Cumulative translation adjustment	$	(125.1)	$	(54.5)	$	(30.2)
Unrealized gain (loss) on derivatives		47.5		6.8		(1.4)
Unrealized loss on debt securities		(2.1)		(1.7)		(1.5)
Total accumulated other comprehensive income (loss)	$	(79.7)	$	(49.4)	$	(33.1)

Amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects were as follows (in millions of dollars):

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended May 1, 2022	Amount		Credit		Amount
Cumulative translation adjustment	$	(34.2)			$	(34.2)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		35.2	$	(7.3)		27.9
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(.2)				(.2)
Net unrealized gain (loss) on derivatives		35.0		(7.3)		27.7
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(.2)				(.2)
Total other comprehensive income (loss)	$	.6	$	(7.3)	$	(6.7)
Six Months Ended May 1, 2022
Cumulative translation adjustment	$	(70.6)			$	(70.6)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		50.6	$	(10.6)		40.0
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		.9		(.2)		.7
Net unrealized gain (loss) on derivatives		51.5		(10.8)		40.7
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(.5)		.1		(.4)
Total other comprehensive income (loss)	$	(19.6)	$	(10.7)	$	(30.3)
Three Months Ended May 2, 2021
Cumulative translation adjustment	$	3.6			$	3.6
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		.6	$	(.1)		.5
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		2.3		(.5)		1.8
Net unrealized gain (loss) on derivatives		2.9		(.6)		2.3
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(.2)		.2
Total other comprehensive income (loss)	$	6.3	$	(.4)	$	5.9
Six Months Ended May 2, 2021
Cumulative translation adjustment	$	39.3			$	39.3
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		.1				.1
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		6.6	$	(1.4)		5.2
Net unrealized gain (loss) on derivatives		6.7		(1.4)		5.3
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(.2)		.3		.1
Total other comprehensive income (loss)	$	45.8	$	(1.1)	$	44.7