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OTHER COMPREHENSIVE INCOME ITEMS (Tables) | 6 Months Ended
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Apr. 28, 2019
OTHER COMPREHENSIVE INCOME ITEMS |
Schedule of After-Tax Changes in Accumulated Other Comprehensive Income (Loss) | The after-tax changes in accumulated other comprehensive income (loss) 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) |
Balance October 29, 2017 |  | $ | (3,580) |  | $ | (999) |  | $ | 5 |  | $ | 10 |  | $ | (4,564) |
Other comprehensive income (loss) items before reclassification |  |  | 81 |  |  | 225 |  |  | 11 |  |  | (9) |  |  | 308 |
Amounts reclassified from accumulated other comprehensive income |  |  | 84 |  |  |  |  |  | (1) |  |  |  |  |  | 83 |
Net current period other comprehensive income (loss) |  |  | 165 |  |  | 225 |  |  | 10 |  |  | (9) |  |  | 391 |
Balance April 29, 2018 |  | $ | (3,415) |  | $ | (774) |  | $ | 15 |  | $ | 1 |  | $ | (4,173) |
Balance October 28, 2018 |  | $ | (3,237) |  | $ | (1,204) |  | $ | 15 |  | $ | (2) |  | $ | (4,428) |
ASU No. 2016-01 adoption* |  |  |  |  |  |  |  |  |  |  |  | (8) |  |  | (8) |
Other comprehensive income (loss) items before reclassification |  |  | 32 |  |  | (244) |  |  | (11) |  |  | 16 |  |  | (207) |
Amounts reclassified from accumulated other comprehensive income |  |  | 37 |  |  |  |  |  | (4) |  |  |  |  |  | 33 |
Net current period other comprehensive income (loss) |  |  | 69 |  |  | (244) |  |  | (15) |  |  | 16 |  |  | (174) |
Balance April 28, 2019 |  | $ | (3,168) |  | $ | (1,448) |  |  |  |  | $ | 6 |  | $ | (4,610) |
* See Note 3. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects | 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 |
Three Months Ended April 28, 2019 |  | Amount |  | Credit |  | Amount |
Cumulative translation adjustment |  | $ | (83) |  | $ | 1 |  | $ | (82) |
Unrealized gain (loss) on derivatives: |  |  |  |  |  |  |  |  |  |
Unrealized hedging gain (loss) |  |  | (6) |  |  | 1 |  |  | (5) |
Reclassification of realized (gain) loss to: |  |  |  |  |  |  |  |  |  |
Interest rate contracts – Interest expense |  |  | (3) |  |  | 1 |  |  | (2) |
Net unrealized gain (loss) on derivatives |  |  | (9) |  |  | 2 |  |  | (7) |
Unrealized gain (loss) on debt securities: |  |  |  |  |  |  |  |  |  |
Unrealized holding gain (loss) |  |  | 10 |  |  | (2) |  |  | 8 |
Net unrealized gain (loss) on debt securities |  |  | 10 |  |  | (2) |  |  | 8 |
Retirement benefits adjustment: |  |  |  |  |  |  |  |  |  |
Pensions |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | (19) |  |  | 4 |  |  | (15) |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 36 |  |  | (9) |  |  | 27 |
Prior service (credit) cost |  |  | 3 |  |  | (1) |  |  | 2 |
OPEB |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | 60 |  |  | (14) |  |  | 46 |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 3 |  |  | (1) |  |  | 2 |
Prior service (credit) cost |  |  | (18) |  |  | 5 |  |  | (13) |
Net unrealized gain (loss) on retirement benefits adjustment |  |  | 65 |  |  | (16) |  |  | 49 |
Total other comprehensive income (loss) |  | $ | (17) |  | $ | (15) |  | $ | (32) |
|  | Before |  | Tax |  | After |
|  | Tax |  | (Expense) |  | Tax |
Six Months Ended April 28, 2019 |  | Amount |  | Credit |  | Amount |
Cumulative translation adjustment |  | $ | (244) |  |  |  |  | $ | (244) |
Unrealized gain (loss) on derivatives: |  |  |  |  |  |  |  |  |  |
Unrealized hedging gain (loss) |  |  | (14) |  | $ | 3 |  |  | (11) |
Reclassification of realized (gain) loss to: |  |  |  |  |  |  |  |  |  |
Interest rate contracts – Interest expense |  |  | (5) |  |  | 1 |  |  | (4) |
Net unrealized gain (loss) on derivatives |  |  | (19) |  |  | 4 |  |  | (15) |
Unrealized gain (loss) on debt securities: |  |  |  |  |  |  |  |  |  |
Unrealized holding gain (loss) |  |  | 20 |  |  | (4) |  |  | 16 |
Net unrealized gain (loss) on debt securities |  |  | 20 |  |  | (4) |  |  | 16 |
Retirement benefits adjustment: |  |  |  |  |  |  |  |  |  |
Pensions |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | (18) |  |  | 4 |  |  | (14) |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 71 |  |  | (17) |  |  | 54 |
Prior service (credit) cost |  |  | 6 |  |  | (2) |  |  | 4 |
OPEB |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | 60 |  |  | (14) |  |  | 46 |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 8 |  |  | (2) |  |  | 6 |
Prior service (credit) cost |  |  | (36) |  |  | 9 |  |  | (27) |
Net unrealized gain (loss) on retirement benefits adjustment |  |  | 91 |  |  | (22) |  |  | 69 |
Total other comprehensive income (loss) |  | $ | (152) |  | $ | (22) |  | $ | (174) |
* 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 |
Three Months Ended April 29, 2018 |  | Amount |  | Credit |  | Amount |
Cumulative translation adjustment |  |  |  |  | $ | 1 |  | $ | 1 |
Unrealized gain (loss) on derivatives: |  |  |  |  |  |  |  |  |  |
Unrealized hedging gain (loss) |  | $ | 7 |  |  | (1) |  |  | 6 |
Reclassification of realized (gain) loss to: |  |  |  |  |  |  |  |  |  |
Interest rate contracts – Interest expense |  |  | (1) |  |  |  |  |  | (1) |
Net unrealized gain (loss) on derivatives |  |  | 6 |  |  | (1) |  |  | 5 |
Unrealized gain (loss) on investments: |  |  |  |  |  |  |  |  |  |
Unrealized holding gain (loss) |  |  | (11) |  |  | 2 |  |  | (9) |
Reclassification of realized (gain) loss – Other income |  |  | (1) |  |  | 1 |  |  |  |
Net unrealized gain (loss) on investments |  |  | (12) |  |  | 3 |  |  | (9) |
Retirement benefits adjustment: |  |  |  |  |  |  |  |  |  |
Pensions |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | 39 |  |  | (9) |  |  | 30 |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 54 |  |  | (14) |  |  | 40 |
Prior service (credit) cost |  |  | 3 |  |  | (1) |  |  | 2 |
Settlements/curtailments |  |  | 6 |  |  | (2) |  |  | 4 |
OPEB |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | 60 |  |  | (14) |  |  | 46 |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 15 |  |  | (4) |  |  | 11 |
Prior service (credit) cost |  |  | (19) |  |  | 5 |  |  | (14) |
Net unrealized gain (loss) on retirement benefits adjustment |  |  | 158 |  |  | (39) |  |  | 119 |
Total other comprehensive income (loss) |  | $ | 152 |  | $ | (36) |  | $ | 116 |
* These accumulated other comprehensive income amounts are included in net periodic pension and OPEB costs. See Note 8 for additional detail. In the second quarter of 2019 and 2018, the noncontrolling interests’ comprehensive income was $1.4 million and $1.7 million, respectively, which consisted of net income of $1.4 million and $1.4 million and cumulative translation adjustments of none and $.3 million, respectively.
|  | Before |  | Tax |  | After |
|  | Tax |  | (Expense) |  | Tax |
Six Months Ended April 29, 2018 |  | Amount |  | Credit |  | Amount |
Cumulative translation adjustment |  | $ | 225 |  |  |  |  | $ | 225 |
Unrealized gain (loss) on derivatives: |  |  |  |  |  |  |  |  |  |
Unrealized hedging gain (loss) |  |  | 15 |  | $ | (4) |  |  | 11 |
Reclassification of realized (gain) loss to: |  |  |  |  |  |  |  |  |  |
Interest rate contracts – Interest expense |  |  | (1) |  |  |  |  |  | (1) |
Net unrealized gain (loss) on derivatives |  |  | 14 |  |  | (4) |  |  | 10 |
Unrealized gain (loss) on investments: |  |  |  |  |  |  |  |  |  |
Unrealized holding gain (loss) |  |  | (11) |  |  | 2 |  |  | (9) |
Reclassification of realized (gain) loss – Other income |  |  | (1) |  |  | 1 |  |  |  |
Net unrealized gain (loss) on investments |  |  | (12) |  |  | 3 |  |  | (9) |
Retirement benefits adjustment: |  |  |  |  |  |  |  |  |  |
Pensions |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | 46 |  |  | (11) |  |  | 35 |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 115 |  |  | (34) |  |  | 81 |
Prior service (credit) cost |  |  | 6 |  |  | (2) |  |  | 4 |
Settlements/curtailments |  |  | 6 |  |  | (2) |  |  | 4 |
OPEB |  |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) |  |  | 60 |  |  | (14) |  |  | 46 |
Reclassification through amortization of actuarial (gain) loss and prior service (credit) cost to other operating expenses: * |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 31 |  |  | (9) |  |  | 22 |
Prior service (credit) cost |  |  | (38) |  |  | 11 |  |  | (27) |
Net unrealized gain (loss) on retirement benefits adjustment |  |  | 226 |  |  | (61) |  |  | 165 |
Total other comprehensive income (loss) |  | $ | 453 |  | $ | (62) |  | $ | 391 |
* These accumulated other comprehensive income amounts are included in net periodic pension and OPEB costs. See Note 8 for additional detail. In the first six months of 2019 and 2018, the noncontrolling interests’ comprehensive income was $2.5 million and $2.1 million, respectively, which consisted of net income of $2.5 million and $1.7 million and cumulative translation adjustments of none and $.4 million, respectively.

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