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OTHER COMPREHENSIVE INCOME ITEMS

12 Months Ended

Nov. 03, 2019

OTHER COMPREHENSIVE INCOME ITEMS

OTHER COMPREHENSIVE INCOME ITEMS

26. OTHER COMPREHENSIVE INCOME ITEMS

The after-tax changes in accumulated other comprehensive income at October 30, 2016, October 29, 2017, October 28, 2018, and November 3, 2019 in millions of dollars follow:


														Total
								Unrealized			Unrealized			Accumulated
		Retirement			Cumulative			Gain (Loss)			Gain (Loss)			Other
		Benefits			Translation			on			on			Comprehensive
		Adjustment			Adjustment			Derivatives			Debt Securities			Income (Loss)
2016		$	(4,409)		$	(1,229)		$	1		$	11		$	(5,626)
Period Change			829			230			4			(1)			1,062
2017			(3,580)			(999)			5			10			(4,564)
Period Change			1,052			(194)			9			(13)			854
ASU No. 2018-02			(709)			(10)			1			1			(717)
2018			(3,237)			(1,203)			15			(2)			(4,427)
ASU No. 2016-01*												(8)			(8)
Period Change			(678)			(448)			(75)			29			(1,172)
2019		$	(3,915)		$	(1,651)		$	(60)		$	19		$	(5,607)

* See Note 3.

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


		Before			Tax			After
		Tax			(Expense)			Tax
		Amount			Credit			Amount
2019
Cumulative translation adjustment		$	(447)		$	(1)		$	(448)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)			(92)			21			(71)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense			(5)			1			(4)
Net unrealized gain (loss) on derivatives			(97)			22			(75)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)			36			(7)			29
Net unrealized gain (loss) on debt securities			36			(7)			29
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)			(887)			236			(651)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss			143			(35)			108
Prior service (credit) cost			11			(2)			9
Settlements			3			(1)			2
OPEB
Net actuarial gain (loss)			(141)			38			(103)
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss			16			(4)			12
Prior service (credit) cost			(72)			17			(55)
Net unrealized gain (loss) on retirement benefits adjustment			(927)			249			(678)
Total other comprehensive income (loss)		$	(1,435)		$	263		$	(1,172)

* These accumulated other comprehensive income amounts are included in net periodic pension and OPEB costs. See Note 8 for additional detail.


		Before			Tax			After
		Tax			(Expense)			Tax
		Amount			Credit			Amount
2018
Cumulative translation adjustment		$	(188)		$	(6)		$	(194)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)			18			(4)			14
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense			(5)			1			(4)
Foreign exchange contracts – Other operating expenses			(1)						(1)
Net unrealized gain (loss) on derivatives			12			(3)			9
Unrealized gain (loss) on investments:
Unrealized holding gain (loss)			(17)			5			(12)
Reclassification of realized (gain) loss – Other income			(1)						(1)
Net unrealized gain (loss) on investments			(18)			5			(13)
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)			553			(128)			425
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss			226			(63)			163
Prior service (credit) cost			12			(4)			8
Settlements			8			(2)			6
OPEB
Net actuarial gain (loss) and prior service credit (cost)			603			(142)			461
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss			62			(17)			45
Prior service (credit) cost			(77)			21			(56)
Net unrealized gain (loss) on retirement benefits adjustment			1,387			(335)			1,052
Total other comprehensive income (loss)		$	1,193		$	(339)		$	854

* These accumulated other comprehensive income amounts are included in net periodic pension and OPEB costs. See Note 8 for additional detail.


		Before			Tax			After
		Tax			(Expense)			Tax
		Amount			Credit			Amount
2017
Cumulative translation adjustment		$	232		$	(2)		$	230
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)			3			(1)			2
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense			2			(1)			1
Foreign exchange contracts – Other operating expenses			1						1
Net unrealized gain (loss) on derivatives			6			(2)			4
Unrealized gain (loss) on investments:
Unrealized holding gain (loss)			274			(101)			173
Reclassification of realized (gain) loss – Other income			(275)			101			(174)
Net unrealized gain (loss) on investments			(1)						(1)
Retirement benefits adjustment:
Pensions
Net actuarial gain (loss)			702			(248)			454
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss			247			(89)			158
Prior service (credit) cost			12			(4)			8
Settlements			2			(1)			1
OPEB
Net actuarial gain (loss)			309			(115)			194
Reclassification to other operating expenses through amortization of: *
Actuarial (gain) loss			99			(36)			63
Prior service (credit) cost			(77)			28			(49)
Net unrealized gain (loss) on retirement benefits adjustment			1,294			(465)			829
Total other comprehensive income (loss)		$	1,531		$	(469)		$	1,062

* These accumulated other comprehensive income amounts are included in net periodic pension and OPEB costs. See Note 8 for additional detail.

The noncontrolling interests’ comprehensive income was $4 million in 2019, $2 million in 2018, and none in 2017, which consisted of net income of $4 million in 2019, $3 million in 2018, and none in 2017 and cumulative translation adjustments of none in 2019, $(1) million in 2018, and none in 2017.