XML 60 R39.htm IDEA: XBRL DOCUMENT v3.6.0.2
(Tables)
12 Months Ended
Oct. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
The effect of changing the health care cost trend rate by one-percentage point for each future year is as follows:
(in millions)
One-Percentage
Point Increase  
 
One-Percentage
Point Decrease  
Effect on total of service and interest cost components
$
12

 
$
(10
)
Effect on postretirement benefit obligation
205

 
(159
)
Components Of Postretirement Benefits Income Expense Included in Statement Of Operations [Table Text Block]
The components of our postretirement benefits expense included in our Consolidated Statements of Operations consist of the following:
 
For the Years Ended October 31,
(in millions)
2016
 
2015
 
2014
Pension expense
$
82

 
$
69

 
$
106

Health and life insurance expense
71

 
81

 
54

Total postretirement benefits expense
$
153

 
$
150

 
$
160

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
Information for pension plans with accumulated benefit obligations in excess of plan assets were as follows:
 
As of October 31,
(in millions)
2016
 
2015
Projected benefit obligations
$
3,946

 
$
3,631

Accumulated benefit obligations
3,934

 
3,612

Fair value of plan assets
2,224

 
2,061

Schedule of Defined Benefit Plans Disclosures [Table Text Block]
A summary of the changes in benefit obligations and plan assets is as follows:
 
Pension Benefits
 
Health and Life
Insurance Benefits
(in millions)
2016
 
2015
 
2016
 
2015
Change in benefit obligations
 
 
 
 
 
 
 
Benefit obligations at beginning of year
$
3,979

 
$
4,041

 
$
1,887

 
$
1,957

Service cost
9

 
13

 
5

 
6

Interest on obligations
118

 
142

 
58

 
71

Actuarial loss (gain)
225

 
146

 
(138
)
 
(34
)
Contractual termination benefits
3

 
(1
)
 
4

 
(1
)
Currency translation
(7
)
 
(53
)
 

 

Plan participants' contributions

 

 
34

 
31

Subsidy receipts

 

 
37

 
40

Benefits paid
(300
)
 
(309
)
 
(179
)
 
(183
)
Benefit obligations at end of year
$
4,027

 
$
3,979

 
$
1,708

 
$
1,887

Change in plan assets
 
 
 

 
 
 
 
Fair value of plan assets at beginning of year
$
2,422

 
$
2,627

 
$
369

 
$
415

Actual return on plan assets
79

 
27

 
3

 
3

Currency translation
(6
)
 
(51
)
 

 

Employer contributions
100

 
113

 
2

 
2

Benefits paid
(285
)
 
(294
)
 
(41
)
 
(51
)
Fair value of plan assets at end of year
$
2,310

 
$
2,422

 
$
333

 
$
369

Funded status at year end
$
(1,717
)
 
$
(1,557
)
 
$
(1,375
)
 
$
(1,518
)
Schedule of Expected Benefit Payments [Table Text Block]
The expected future benefit payments for the years ending October 31, 2017 through 2021 and the five years ending October 31, 2026 are estimated as follows:
(in millions)
Pension Benefit Payments
 
Other Postretirement Benefit Payments(A)
2017
$
306

 
$
100

2018
293

 
105

2019
287

 
111

2020
281

 
111

2021
273

 
112

2022 through 2026
1,252

 
532

________________________
(A)
Payments are net of expected participant contributions and expected federal subsidy receipts.
Schedule of Allocation of Plan Assets [Table Text Block]
Pension Assets
The fair value of the pension plan assets by category is summarized below:
 
As of October 31, 2016
 
As of October 31, 2015
(in millions)
Level 1
 
Level 2
 
Level 3
 
NAV
 
Total
 
Level 1
 
Level 2
 
Level 3
 
NAV
 
Total
Asset Category
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
76

 
$

 
$

 
$

 
$
76

 
$
126

 
$

 
$

 
$

 
$
126

Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Large Cap

 

 

 

 

 
209

 

 

 

 
209

U.S. Small-Mid Cap

 

 

 

 

 
253

 

 

 

 
253

Canadian

 

 

 

 

 
30

 

 

 

 
30

International

 

 

 

 

 
216

 

 

 

 
216

Emerging Markets

 

 

 

 

 
77

 

 

 

 
77

Equity derivative

 

 

 

 

 

 

 

 

 

Fixed Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate and Government Bonds

 

 

 

 

 

 
792

 

 

 
792

Asset Backed Securities

 

 

 

 

 

 
7

 

 

 
7

Collective Trusts and Other
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Equity
294

 

 

 

 
294

 

 

 

 

 

Canadian Equity
29

 

 

 

 
29

 

 

 

 

 

International Equity
291

 

 

 

 
291

 

 

 

 

 

Global Equity
227

 

 

 

 
227

 

 

 

 

 

Fixed Income - Long Duration Credit

 
530

 

 

 
530

 

 

 

 

 

Fixed Income - High Yield

 
204

 

 

 
204

 

 

 

 

 

Fixed Income - Canadian Bond

 
203

 

 

 
203

 

 

 

 

 

Global Real Estate

 
141

 

 

 
141

 

 

 

 

 

Global Infrastructure

 

 

 
14

 
14

 

 

 

 

 

Common and Preferred Stock

 

 

 

 

 

 
449

 

 

 
449

Commodities

 

 

 

 

 

 
21

 

 

 
21

Hedge Fund of Funds

 

 

 
230

 
230

 

 

 

 
109

 
109

Private Equity

 

 

 
57

 
57

 

 

 

 
79

 
79

Exchange Traded Funds

 

 

 

 

 
6

 

 

 

 
6

Mutual Funds

 

 

 

 

 
29

 

 

 

 
29

Real Estate

 

 
1

 

 
1

 

 

 
1

 

 
1

Total(A)
$
917

 
$
1,078

 
$
1

 
$
301

 
$
2,297

 
$
946

 
$
1,269

 
$
1

 
$
188

 
$
2,404

___________________
(A)
In addition, the table above includes the fair value of Canadian pension assets translated at the exchange rates as of October 31, 2016 and 2015, respectively, while the change in plan asset table includes the fair value of Canadian pension assets translated at historical foreign currency rates.
The fair value of other postretirement benefit plan assets by category is summarized below:
 
As of October 31, 2016
 
As of October 31, 2015
(in millions)
Level 1
 
Level 2
 
Level 3
 
NAV
 
Total
 
Level 1
 
Level 2
 
Level 3
 
NAV
 
Total
Asset Category
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
19

 
$

 
$

 
$

 
$
19

 
$
29

 
$

 
$

 
$

 
$
29

Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Large Cap

 

 

 

 

 
25

 

 

 

 
25

U.S. Small-Mid Cap

 

 

 

 

 
42

 

 

 

 
42

International

 

 

 

 

 
53

 

 

 

 
53

Emerging Markets

 

 

 

 

 
14

 

 

 

 
14

Fixed Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate and Government Bonds

 
80

 

 

 
80

 

 
100

 

 

 
100

Asset Backed Securities

 

 

 

 

 

 
3

 

 

 
3

Collective Trusts and Other
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Equity
66

 

 

 

 
66

 

 

 

 

 

International Equity
71

 

 

 

 
71

 

 

 

 

 

Fixed Income - Multi-Asset Credit

 
41

 

 

 
41

 

 

 

 

 

Common Stock

 

 

 

 

 

 
59

 

 

 
59

Commodities

 

 

 

 

 

 
1

 

 

 
1

Hedge Fund of Funds

 

 

 
42

 
42

 

 

 

 
22

 
22

Private Equity

 

 

 
14

 
14

 

 

 

 
20

 
20

Total
$
156

 
$
121

 
$

 
$
56

 
$
333

 
$
163

 
$
163

 
$

 
$
42

 
$
368

Schedule of Net Benefit Costs [Table Text Block]
 
Pension Benefits
 
Health and Life
Insurance Benefits
(in millions)
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost for benefits earned during the period
$
9

 
$
13

 
$
12

 
$
5

 
$
6

 
$
5

Interest on obligation
118

 
142

 
158

 
58

 
71

 
68

Amortization of cumulative loss
104

 
97

 
94

 
31

 
39

 
16

Amortization of prior service cost (benefit)

 
1

 

 
(1
)
 
(4
)
 
(4
)
Contractual termination benefits
3

 
(1
)
 
23

 
4

 
(1
)
 
2

Premiums on pension insurance
15

 
11

 
12

 

 

 

Expected return on assets
(167
)
 
(194
)
 
(193
)
 
(26
)
 
(30
)
 
(33
)
Net periodic benefit expense
$
82

 
$
69

 
$
106

 
$
71

 
$
81

 
$
54

Other Changes in plan assets and benefit obligations recognized in other comprehensive loss (income)
 
 
 
 
 
 
 
 
 
 
 
Actuarial net loss (gain)
$
313

 
$
312

 
$
164

 
$
(115
)
 
$
(7
)
 
$
326

Amortization of cumulative loss
(104
)
 
(97
)
 
(94
)
 
(31
)
 
(39
)
 
(16
)
Amortization of prior service benefit (cost)

 
(1
)
 

 
1

 
4

 
4

Currency translation
(1
)
 

 
1

 

 

 

Total recognized in other comprehensive loss (income)
$
208

 
$
214

 
$
71

 
$
(145
)
 
$
(42
)
 
$
314

Total net postretirement benefits expense and other comprehensive loss (income)
$
290

 
$
283

 
$
177

 
$
(74
)
 
$
39

 
$
368

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]
 
Pension Benefits
 
Health and Life
Insurance Benefits
(in millions)
2016
 
2015
 
2016
 
2015
Amounts recognized in our Consolidated Balance Sheets consist of:
 
 
 

 
 
 
 
Noncurrent asset
$
6

 
$
13

 
$

 
$

Current liability
(17
)
 
(15
)
 
(58
)
 
(78
)
Noncurrent liability
(1,706
)
 
(1,555
)
 
(1,317
)
 
(1,440
)
Net liability recognized
$
(1,717
)
 
$
(1,557
)
 
$
(1,375
)
 
$
(1,518
)
 
 
 
 
 
 
 
 
Amounts recognized in our accumulated other comprehensive loss consist of:
 
 

 
 
 
 
Net actuarial loss
$
2,442

 
$
2,234

 
$
472

 
$
618

Net prior service benefit

 

 

 
(1
)
Net amount recognized
$
2,442

 
$
2,234

 
$
472

 
$
617

The estimated amounts for the defined benefit pension plans and the other postretirement benefit plans that will be amortized from AOCL into net periodic benefit expense over the next fiscal year are as follows:
(in millions)
Pension Benefits
 
Health and Life Insurance Benefits
Amortization of prior service cost (benefit)
$

 
$

Amortization of cumulative losses
117

 
23

Schedule of Assumptions Used [Table Text Block]
Assumptions
The weighted average rate assumptions used in determining benefit obligations for the years ended October 31, 2016 and 2015 were:
 
Pension Benefits
 
Health and Life Insurance Benefits
 
2016
 
2015
 
2016
 
2015
Discount rate used to determine present value of benefit obligation at end of year
3.5
%
 
4.0
%
 
3.5
%
 
4.1
%
Expected rate of increase in future compensation levels
3.5
%
 
3.5
%
 

 

The weighted average rate assumptions used in determining net postretirement benefits expense for 2016, 2015, and 2014 were:
 
Pension Benefits
 
Health and Life Insurance Benefits
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate used to determine service cost
4.5
%
 
3.7
%
 
4.1
%
 
4.6
%
 
3.7
%
 
4.1
%
Discount rate used to determine interest cost
3.1
%
 
3.7
%
 
4.1
%
 
3.3
%
 
3.7
%
 
4.1
%
Expected long-term rate of return on plan assets
7.5
%
 
7.8
%
 
7.8
%
 
7.5
%
 
7.8
%
 
7.8
%
Expected rate of increase in future compensation levels
3.5
%
 
3.5
%
 
3.5
%