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OTHER COMPREHENSIVE INCOME ITEMS
 3 Months Ended
Jan. 31, 2015
OTHER COMPREHENSIVE INCOME ITEMS  
OTHER COMPREHENSIVE INCOME ITEMS

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

 

 

 

Retirement
Benefits
Adjustment

 

Cumulative
Translation
Adjustment

 

Unrealized
Gain (Loss)
On
Derivatives

 

Unrealized
Gain (Loss)
on
Investments

 

Total
Accumulated
Other
Comprehensive
Income (Loss)

 

Balance October 31, 2014

 

$

(3,493)

 

$

(303)

 

$

 

 

$

13

 

$

(3,783)

 

Other comprehensive income (loss) items before reclassification

 

 

 

(510)

 

(3)

 

9

 

(504)

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

42

 

 

 

2

 

(2)

 

42

 

Net current period other comprehensive income (loss)

 

42

 

(510)

 

(1)

 

7

 

(462)

 

Balance January 31, 2015

 

$

(3,451)

 

$

(813)

 

$

(1)

 

$

20

 

$

(4,245)

 

 

 

 

Retirement
Benefits
Adjustment

 

Cumulative
Translation
Adjustment

 

Unrealized
Gain (Loss)
On
Derivatives

 

Unrealized
Gain (Loss)
on
Investments

 

Total
Accumulated
Other
Comprehensive
Income (Loss)

 

Balance October 31, 2013

 

$

(2,809)

 

$

113

 

$

(3)

 

$

6

 

$

(2,693)

 

Other comprehensive income (loss) items before reclassification

 

12

 

(168)

 

(3)

 

(1)

 

(160)

 

Amounts reclassified from accumulated other comprehensive  income

 

38

 

 

 

6

 

 

 

44

 

Net current period other comprehensive income (loss)

 

50

 

(168)

 

3

 

(1)

 

(116)

 

Balance January 31, 2014

 

$

(2,759)

 

$

(55)

 

 

 

$

5

 

$

(2,809)

 

 

Following are amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects, in millions of dollars:

 

Three Months Ended January 31, 2015

 

Before
Tax
Amount

 

Tax
(Expense)
Credit

 

After
Tax
Amount

 

Cumulative translation adjustment:

 

$

(508

)

 

$

(2

)

 

$

(510

)

 

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

 

Unrealized hedging (loss)

 

(4

)

 

1

 

 

(3

)

 

Reclassification of realized (gain) loss to:

 

 

 

 

 

 

 

 

 

 

Interest rate contracts — Interest expense

 

3

 

 

 

 

 

3

 

 

Foreign exchange contracts — Other operating expense

 

(1

)

 

 

 

 

(1

)

 

Net unrealized (loss) on derivatives

 

(2

)

 

1

 

 

(1

)

 

Unrealized gain (loss) on investments:

 

 

 

 

 

 

 

 

 

 

Unrealized holding gain

 

13

 

 

(4

)

 

9

 

 

Reclassification of realized (gain) — Other income

 

(2

)

 

 

 

 

(2

)

 

Net unrealized gain on investments

 

11

 

 

(4

)

 

7

 

 

Retirement benefits adjustment:

 

 

 

 

 

 

 

 

 

 

Pensions

 

 

 

 

 

 

 

 

 

 

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

55

 

 

(20

)

 

35

 

 

Prior service cost

 

6

 

 

(2

)

 

4

 

 

Settlements/curtailments

 

1

 

 

 

 

 

1

 

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

 

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

23

 

 

(9

)

 

14

 

 

Prior service (credit)

 

(19

)

 

7

 

 

(12

)

 

Net unrealized gain on retirement benefits adjustments

 

66

 

 

(24

)

 

42

 

 

Total other comprehensive income (loss)

 

$

(433

)

 

$

(29

)

 

$

(462

)

 

 

*                     These accumulated other comprehensive income amounts are included in net periodic postretirement costs.  See Note 7 for additional detail.

 

Three Months Ended January 31, 2014

 

Before
Tax
Amount

 

Tax
(Expense)
Credit

 

After
Tax
Amount

 

Cumulative translation adjustment:

 

$

(169

)

 

$

1

 

 

$

(168

)

 

Unrealized gain (loss) on derivatives:

 

 

 

 

 

 

 

 

 

 

Unrealized hedging (loss)

 

(5

)

 

2

 

 

(3

)

 

Reclassification of realized loss to:

 

 

 

 

 

 

 

 

 

 

Interest rate contracts — Interest expense

 

4

 

 

(1

)

 

3

 

 

Foreign exchange contracts — Other operating expense

 

5

 

 

(2

)

 

3

 

 

Net unrealized gain on derivatives

 

4

 

 

(1

)

 

3

 

 

Unrealized gain (loss) on investments:

 

 

 

 

 

 

 

 

 

 

Unrealized holding (loss)

 

(2

)

 

1

 

 

(1

)

 

Net unrealized (loss) on investments

 

(2

)

 

1

 

 

(1

)

 

Retirement benefits adjustment:

 

 

 

 

 

 

 

 

 

 

Pensions

 

 

 

 

 

 

 

 

 

 

Net actuarial gain

 

19

 

 

(7

)

 

12

 

 

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

43

 

 

(15

)

 

28

 

 

Prior service cost

 

6

 

 

(2

)

 

4

 

 

Settlements/curtailments

 

2

 

 

(1

)

 

1

 

 

Health care and life insurance

 

 

 

 

 

 

 

 

 

 

Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to net income: *

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

9

 

 

(3

)

 

6

 

 

Prior service (credit)

 

(1

)

 

 

 

 

(1

)

 

Net unrealized gain on retirement benefits adjustments

 

78

 

 

(28

)

 

50

 

 

Total other comprehensive income (loss)

 

$

(89

)

 

$

(27

)

 

$

(116

)

 

 

*                     These accumulated other comprehensive income amounts are included in net periodic postretirement costs.  See Note 7 for additional detail.

 

In the first quarter of 2015 and 2014, the noncontrolling interests’ comprehensive income (loss) was $(.2) million and $.2 million, respectively, which consisted of net income of $.1 million in 2015 and $.2 million in 2014 and a cumulative translation adjustment of $(.3) million in 2015.