OTHER COMPREHENSIVE INCOME ITEMS (Tables)

9 Months Ended

Jul. 31, 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:

	July 31		October 31		August 1
	2022		2021		2021
Retirement benefits adjustment	$	(1,171)	$	(1,034)	$	(3,710)
Cumulative translation adjustment		(2,262)		(1,478)		(1,277)
Unrealized loss on derivatives		(1)		(42)		(50)
Unrealized gain (loss) on debt securities		(42)		15		26
Total accumulated other comprehensive income (loss)	$	(3,476)	$	(2,539)	$	(5,011)

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/curtailment are included in net periodic pension and other postretirement benefit costs (see Note 6).

	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 to Other operating expenses through amortization of:
Actuarial (gain) loss		27		(7)		20
Prior service (credit) cost		8		(2)		6
Settlements/curtailment		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 (cost)		(338)		81		(257)
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		94		(24)		70
Prior service (credit) cost		22		(6)		16
Settlements/curtailment		44		(10)		34
Net unrealized gain (loss) on retirement benefits adjustment		(178)		41		(137)
Total other comprehensive income (loss)	$	(973)	$	36	$	(937)

	Before		Tax		After
	Tax		(Expense)		Tax
Three Months Ended August 1, 2021	Amount		Credit		Amount
Cumulative translation adjustment	$	(112)	$	(2)	$	(114)
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)		11		(3)		8
Net unrealized gain (loss) on debt securities		11		(3)		8
Retirement benefits adjustment:
Net actuarial gain (loss)		(5)		1		(4)
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		71		(17)		54
Prior service (credit) cost		1				1
Settlements		4		(1)		3
Net unrealized gain (loss) on retirement benefits adjustment		71		(17)		54
Total other comprehensive income (loss)	$	(28)	$	(23)	$	(51)

	Before		Tax		After
	Tax		(Expense)		Tax
Nine Months Ended August 1, 2021	Amount		Credit		Amount
Cumulative translation adjustment	$	319			$	319
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)		(1)				(1)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense		11	$	(2)		9
Net unrealized gain (loss) on derivatives		10		(2)		8
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(6)		(1)		(7)
Net unrealized gain (loss) on debt securities		(6)		(1)		(7)
Retirement benefits adjustment:
Net actuarial gain (loss)		35		(8)		27
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		213		(53)		160
Prior service (credit) cost		5		(1)		4
Settlements		22		(5)		17
Net unrealized gain (loss) on retirement benefits adjustment		275		(67)		208
Total other comprehensive income (loss)	$	598	$	(70)	$	528