Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Feb. 01, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income (Loss)

The following table provides the changes in accumulated other comprehensive income (loss), OCI, by component and the related tax effects during the first three months of fiscal 2014.

	Foreign currency translation adjustment			Unrealized holding Gains on securities classified as short-term investments			Unrealized holding (losses) on securities classified as short-term investments			Unrealized holding Gains (losses) on Derivatives			Pension Plans			Total
November 3, 2013	$	483		$	953		$	(435	)	$	9,097		$	(90,644	)	$	(80,546	)
Other comprehensive income before reclassifications	(740		)	(111		)	(90		)	(2,113		)	(324		)	(3,378		)
Amounts reclassified out of other comprehensive income	—			—			—			(293		)	1,080			787
Tax effects	—			30			3			329			(162		)	200
Other comprehensive income	(740		)	(81		)	(87		)	(2,077		)	594			(2,391		)
February 1, 2014	$	(257	)	$	872		$	(522	)	$	7,020		$	(90,050	)	$	(82,937	)

The amounts reclassified out of accumulated other comprehensive income into the consolidated condensed statement of income, with presentation location during each period were as follows:

	Three Months Ended
	February 1, 2014
Comprehensive Income Component				Location
Unrealized holding (losses) gains on derivatives
Currency forwards	$	312		Cost of sales
	(389		)	Research and development
	58			Selling, marketing, general and administrative
Treasury rate lock	(274		)	Interest, expense
	(293		)	Total before tax
	98			Tax
	$	(195	)	Net of tax
Amortization of pension components
Transition obligation	$	5		a
Prior service credit	(60		)	a
Actuarial losses	1,135			a
	1,080			Total before tax
	(162		)	Tax
	$	918		Net of tax
Total amounts reclassified out of accumulated other comprehensive income, net of tax	$	723

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a) The amortization of pension components is included in the computation of net periodic pension cost. For further information see Note 13, Retirement Plans, contained in Item 8 of the Annual Report on Form 10-K for the fiscal year ended November 2, 2013.

The Company estimates $1.6 million of net derivative unrealized holding gains included in OCI will be reclassified into earnings within the next twelve months. There was no ineffectiveness in the three-month periods ended February 1, 2014 and February 2, 2013.

Unrealized gains and losses on available-for-sale securities classified as short-term investments at February 1, 2014 and November 2, 2013 are as follows:

	February 1, 2014			November 2, 2013
Unrealized gains on securities classified as short-term investments	$	1,026		$	1,137
Unrealized losses on securities classified as short-term investments	(601		)	(511		)
Net unrealized gains on securities classified as short-term investments	$	425		$	626

As of February 1, 2014, the Company held 143 investment securities, 40 of which were in an unrealized loss position with an aggregate fair value of $1,281.6 million. As of November 2, 2013, the Company held 137 investment securities, 31 of which were in an unrealized loss position with an aggregate fair value of $972.2 million. These unrealized losses were primarily related to corporate obligations that earn lower interest rates than current market rates. None of these investments have been in a loss position for more than twelve months. As the Company does not intend to sell these investments and it is unlikely that the Company will be required to sell the investments before recovery of their amortized basis, which will be at maturity, the Company does not consider those investments to be other-than-temporarily impaired at February 1, 2014 and November 2, 2013.

Realized gains or losses on investments are determined based on the specific identification basis and are recognized in nonoperating (income) expense. There were no material net realized gains or losses from the sales of available-for-sale investments during any of the fiscal periods presented.