OTHER COMPREHENSIVE INCOME ITEMS (Tables)

6 Months Ended

May 03, 2020

OTHER COMPREHENSIVE INCOME ITEMS

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

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

									Total
					Unrealized		Unrealized		Accumulated
	Retirement		Cumulative		Gain (Loss)		Gain (Loss)		Other
	Benefits		Translation		on		on		Comprehensive
	Adjustment		Adjustment		Derivatives		Debt Securities		Income (Loss)
Balance October 28, 2018	$	(3,237)	$	(1,203)	$	15	$	(2)	$	(4,427)
ASU No. 2016-01 adoption								(8)		(8)
Other comprehensive income (loss) items before reclassification		32		(244)		(11)		16		(207)
Amounts reclassified from accumulated other comprehensive income		36				(4)				32
Net current period other comprehensive income (loss)		68		(244)		(15)		16		(175)
Balance April 28, 2019	$	(3,169)	$	(1,447)			$	6	$	(4,610)
Balance November 3, 2019	$	(3,915)	$	(1,651)	$	(60)	$	19	$	(5,607)
Other comprehensive income (loss) items before reclassification		186		(398)		(13)		11		(214)
Amounts reclassified from accumulated other comprehensive income		101				5				106
Net current period other comprehensive income (loss)		287		(398)		(8)		11		(108)
Balance May 3, 2020	$	(3,628)	$	(2,049)	$	(68)	$	30	$	(5,715)

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
Three Months Ended May 3, 2020	Amount		Credit		Amount
Cumulative translation adjustment	$	(441)			$	(441)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(15)	$	3		(12)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		4				4
Net unrealized gain (loss) on derivatives		(11)		3		(8)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		8		(2)		6
Net unrealized gain (loss) on debt securities		8		(2)		6
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(28)		6		(22)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		62		(16)		46
Prior service (credit) cost		3				3
Settlements		3				3
OPEB
Net actuarial gain (loss)		29		(7)		22
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		7		(1)		6
Prior service (credit) cost		(1)				(1)
Net unrealized gain (loss) on retirement benefits adjustment		75		(18)		57
Total other comprehensive income (loss)	$	(369)	$	(17)	$	(386)

	Before		Tax		After
	Tax		(Expense)		Tax
Six Months Ended May 3, 2020	Amount		Credit		Amount
Cumulative translation adjustment	$	(398)			$	(398)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(17)	$	4		(13)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		6		(1)		5
Net unrealized gain (loss) on derivatives		(11)		3		(8)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		14		(3)		11
Net unrealized gain (loss) on debt securities		14		(3)		11
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(27)		6		(21)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		124		(42)		82
Prior service (credit) cost		6		(1)		5
Settlements		6		(1)		5
OPEB
Net actuarial gain (loss)		274		(67)		207
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		14		(3)		11
Prior service (credit) cost		(2)				(2)
Net unrealized gain (loss) on retirement benefits adjustment		395		(108)		287
Total other comprehensive income (loss)			$	(108)	$	(108)

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended April 28, 2019	Amount		Credit		Amount
Cumulative translation adjustment	$	(83)	$	1	$	(82)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(6)		1		(5)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(3)		1		(2)
Net unrealized gain (loss) on derivatives		(9)		2		(7)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		10		(2)		8
Net unrealized gain (loss) on debt securities		10		(2)		8
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(19)		4		(15)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		36		(9)		27
Prior service (credit) cost		3		(1)		2
OPEB
Net actuarial gain (loss)		60		(14)		46
Reclassification to other operating expense through amortization of: *
Actuarial (gain) loss		3		(1)		2
Prior service (credit) cost		(18)		5		(13)
Net unrealized gain (loss) on retirement benefits adjustment		65		(16)		49
Total other comprehensive income (loss)	$	(17)	$	(15)	$	(32)

In the second quarter of 2020 and 2019, the noncontrolling interests’ comprehensive income was none and $1 million, respectively, which consisted of net income.

	Before		Tax		After
	Tax		(Expense)		Tax
Six Months Ended April 28, 2019	Amount		Credit		Amount
Cumulative translation adjustment	$	(244)			$	(244)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(14)	$	3		(11)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		(5)		1		(4)
Net unrealized gain (loss) on derivatives		(19)		4		(15)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		20		(4)		16
Net unrealized gain (loss) on debt securities		20		(4)		16
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)		(18)		4		(14)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		71		(17)		54
Prior service (credit) cost		6		(2)		4
OPEB
Net actuarial gain (loss)		60		(14)		46
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss		8		(2)		6
Prior service (credit) cost		(36)		8		(28)
Net unrealized gain (loss) on retirement benefits adjustment		91		(23)		68
Total other comprehensive income (loss)	$	(152)	$	(23)	$	(175)

* These accumulated other comprehensive income amounts are included in net periodic pension and OPEB costs. See Note 8 for additional detail.

In the first six months of 2020 and 2019, the noncontrolling interests’ comprehensive income was $2 million and $3 million, respectively, which consisted of net income.