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STOCKHOLDERS' EQUITY
 12 Months Ended
Oct. 31, 2020
Statement of Comprehensive Income [Abstract]  
STOCKHOLDERS' EQUITY
20.
STOCKHOLDERS' EQUITY
Stock Repurchase Program
On November 18, 2020, our board of directors approved a new stock repurchase program authorizing the purchase of up to $750 million of the company’s common stock. On May 29, 2019, our board of directors approved a stock repurchase program authorizing the purchase of up to $500 million of the company’s common stock, replacing a previously approved 2018 program authorizing the purchase of up to $350 million of the company's common stock.
Under our stock repurchase program, shares may be purchased from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means. All such shares and related costs are held as treasury stock and accounted for at trade date using the cost method. The stock repurchase program may be commenced, suspended or discontinued at any time at the company’s discretion and does not have an expiration date.
In 2020 we repurchased 4,274,366 shares of common stock for $410 million, nearly exhausting our $500 million share repurchase authorization from May 2019. In 2019 we repurchased 2,093,570 shares of common stock for $160 million. In 2018 we repurchased 2,075,460 shares of common stock for $120 million. All such shares and related costs are held as treasury stock and accounted for at trade date using the cost method.
Accumulated other comprehensive loss
The following table summarizes the components of accumulated other comprehensive loss, net of tax effect:
 
October 31,
 
2020
 
2019
 
(in millions)
Foreign currency translation, net of tax (expense) of $(63) and $(63)
$
(10
)
 
$
(43
)
Unrealized losses on defined benefit plans, net of tax benefit of $139 and $113
(605
)
 
(532
)
Unrealized gains (losses) on derivative instruments, net of tax (expense) of $(5) and zero
16

 
(3
)
Total accumulated other comprehensive loss
$
(599
)
 
$
(578
)

Changes in accumulated other comprehensive loss by component and related tax effects were as follows:
 
 
 
Net defined benefit pension cost and post retirement plan costs:
 
 
 
 
 
Foreign currency translation
 
Actuarial Losses
 
Prior service credits
 
Unrealized gains (losses) on derivatives
 
Total
 
(in millions)
At October 31, 2018
$
(60
)
 
$
(445
)
 
$
19

 
$
(2
)
 
$
(488
)
Other comprehensive income (loss) before reclassifications
17

 
(168
)
 
—

 
(5
)
 
(156
)
Amounts reclassified out of accumulated other comprehensive gain (loss)
—

 
49

 
(19
)
 
3

 
33

Tax benefit (expense)
—

 
28

 
4

 
1

 
33

Other comprehensive income (loss)
17

 
(91
)
 
(15
)
 
(1
)
 
(90
)
At October 31, 2019
(43
)
 
(536
)
 
4

 
(3
)
 
(578
)
Other comprehensive income (loss) before reclassifications
33

 
(155
)
 
—

 
20

 
(102
)
Amounts reclassified out of accumulated other comprehensive gain (loss)
—

 
68

 
(12
)
 
4

 
60

Tax benefit (expense)
—

 
23

 
3

 
(5
)
 
21

Other comprehensive income (loss)
33

 
(64
)
 
(9
)
 
19

 
(21
)
At October 31, 2020
$
(10
)
 
$
(600
)
 
$
(5
)
 
$
16

 
$
(599
)

Reclassifications out of accumulated other comprehensive loss were as follows:
Details about accumulated other comprehensive loss components
 
Amounts reclassified from other comprehensive loss
 
Affected line item in statement of operations
 
 
Year Ended October 31,
 
 
 
 
2020
 
2019
 
 
 
 
(in millions)
 
 
Unrealized gain (loss) on derivatives
 
$
(3
)
 
$
(1
)
 
Cost of products
 
 
(1
)
 
(2
)
 
Selling, general and administrative
 
 
1

 
—

 
Benefit (provision) for income tax
 
 
(3
)
 
(3
)
 
Net of Income Tax
 
 
 
 
 
 
 
Net defined benefit pension cost and post retirement plan costs:
 
 
 
 
 
 
Net actuarial losses
 
(68
)
 
(49
)
 
 
Prior service credits
 
12

 
19

 
 
 
 
(56
)
 
(30
)
 
Total before income tax
 
 
10

 
7

 
Benefit (provision) for income tax
 
 
(46
)
 
(23
)
 
Net of income tax
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
(49
)
 
$
(26
)
 
 

An amount in parentheses indicates a reduction to income and an increase to the accumulated other comprehensive loss.
Reclassifications of prior service credits and net actuarial losses in respect of retirement plans and post retirement pension plans are included in the computation of net periodic cost. See Note 15, "Retirement Plans and Post Retirement Pension Plans."