XML 100 R65.htm IDEA: XBRL DOCUMENT

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Nov. 03, 2019

DERIVATIVE INSTRUMENTS

Amounts Recorded in the Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships

The amounts recorded, at November 3, 2019, in the consolidated balance sheet related to borrowings designated in fair value hedging relationships in millions of dollars follow:


					Cumulative Increase (Decrease) of
					Fair Value Hedging Adjustments
		Carrying			Included in the Carrying Amount
		Amount of			Active
		Hedged			Hedging			Discontinued
		Item			Relationships			Relationships			Total
Long-term borrowings due within one year*		$	412		$	(1)		$	(4)		$	(5)
Long-term borrowings			8,532			295			(32)			263

* Presented in short-term borrowings.

Fair Value of Derivative Instruments in Consolidated Balance Sheet

Fair values of derivative instruments in the consolidated balance sheet at November 3, 2019 and October 28, 2018 in millions of dollars follow:


		2019			2018
Other Assets
Designated as hedging instruments:
Interest rate contracts		$	332		$	29
Total designated			332			29
Not designated as hedging instruments:
Interest rate contracts			31			51
Foreign exchange contracts			20			83
Cross-currency interest rate contracts			1			5
Total not designated			52			139
Total derivative assets		$	384		$	168
Accounts Payable and Accrued Expenses
Designated as hedging instruments:
Interest rate contracts		$	28		$	321
Total designated			28			321
Not designated as hedging instruments:
Interest rate contracts			37			29
Foreign exchange contracts			71			49
Cross-currency interest rate contracts			3
Total not designated			111			78
Total derivative liabilities		$	139		$	399

Gains (Losses) Related to Derivative Instruments on Statement of Consolidated Income

The classification and gains (losses) including accrued interest expense related to derivative instruments on the statement of consolidated income consisted of the following in millions of dollars:


		2019			2018			2017
Fair Value Hedges
Interest rate contracts – Interest expense		$	589		$	(283)		$	(205)

Cash Flow Hedges
Recognized in OCI
Interest rate contracts – OCI (pretax)*			(92)			17			4
Foreign exchange contracts – OCI (pretax)*						2			(1)

Reclassified from OCI
Interest rate contracts – Interest expense*			5			5			(2)
Foreign exchange contracts – Other expense*						1			(1)

Not Designated as Hedges
Interest rate contracts – Net sales		$	(23)		$	3
Interest rate contracts – Interest expense*			(32)			(4)		$	11
Foreign exchange contracts – Cost of sales			(18)			(24)			(12)
Foreign exchange contracts – Other expense*			97			195			(106)
Total not designated		$	24		$	170		$	(107)

* Includes interest and foreign exchange gains (losses) from cross-currency

interest rate contracts.

Impact on Derivative Assets and Liabilities Related to Netting Arrangements and Collateral

The impact on the derivative assets and liabilities related to netting arrangements and any collateral paid at November 3, 2019 and October 28, 2018 in millions of dollars follows:


		Gross Amounts			Netting			Collateral			Net
		Recognized			Arrangements			Paid			Amount
2019
Assets		$	384		$	(70)					$	314
Liabilities			139			(70)						69
2018
Assets		$	168		$	(65)					$	103
Liabilities			399			(65)		$	(59)			275