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OTHER COMPREHENSIVE INCOME ITEMS

3 Months Ended

Jan. 29, 2023

OTHER COMPREHENSIVE INCOME ITEMS

OTHER COMPREHENSIVE INCOME ITEMS

(4)  Other Comprehensive Income Items

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

​	​	​	​	​	​	​	​	​	​	​
​	​	January 29		​	October 30		​	January 30		​
​	​	2023		​	2022		​	2022		​
Retirement benefits adjustment	​	$	(400)	​	$	(389)	​	$	(1,379)	​
Cumulative translation adjustment	​	​	(1,913)	​	​	(2,594)	​	​	(1,745)	​
Unrealized gain (loss) on derivatives	​	​	8	​	​	21	​	​	(28)	​
Unrealized loss on debt securities	​	​	(67)	​	​	(94)	​	​	​	​
Total accumulated other comprehensive income (loss)	​	$	(2,372)	​	$	(3,056)	​	$	(3,152)	​

​

Following are amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects, in millions of dollars. Retirement benefits adjustment reclassifications for actuarial (gain) loss, prior service (credit) cost, and settlements are included in net periodic pension and other postretirement benefit costs (see Note 6).

​	​	​	​	​	​	​	​	​	​	​
​		Before			Tax			After
​	​	Tax		​	(Expense)		​	Tax
Three Months Ended January 29, 2023	​	Amount		​	Credit		​	Amount
Cumulative translation adjustment		$	669	​	$	12	​	$	681	​
Unrealized gain (loss) on derivatives:	​	​	​	​	​	​	​	​	​	​
Unrealized hedging gain (loss)	​	​	(1)	​	​	​	​	​	(1)	​
Reclassification of realized (gain) loss to:	​	​	​	​	​	​	​	​	​	​
Interest rate contracts – Interest expense	​	​	(15)	​	​	3	​	​	(12)	​
Net unrealized gain (loss) on derivatives	​	​	(16)	​	​	3	​	​	(13)	​
Unrealized gain (loss) on debt securities:	​	​	​	​	​	​	​	​	​	​
Unrealized holding gain (loss)	​	​	34	​	​	(7)	​	​	27	​
Net unrealized gain (loss) on debt securities	​	​	34	​	​	(7)	​	​	27	​
Retirement benefits adjustment:	​	​	​	​	​	​	​	​	​	​
Net actuarial gain (loss)	​	​	(1)	​	​	​	​	​	(1)	​
Reclassification to other operating expenses through amortization of:	​	​	​	​	​	​	​	​	​	​
Actuarial (gain) loss	​	​	(21)	​	​	5	​	​	(16)	​
Prior service (credit) cost	​	​	9	​	​	(3)	​	​	6	​
Net unrealized gain (loss) on retirement benefits adjustment	​	​	(13)	​	​	2	​	​	(11)	​
Total other comprehensive income (loss)		$	674	​	$	10	​	$	684	​

​

​	​	​	​	​	​	​	​	​	​	​
​		Before			Tax			After
​	​	Tax		​	(Expense)		​	Tax
Three Months Ended January 30, 2022	​	Amount		​	Credit		​	Amount
Cumulative translation adjustment		$	(264)	​	$	(3)	​	$	(267)	​
Unrealized gain (loss) on derivatives:	​	​	​	​	​	​	​	​	​	​
Unrealized hedging gain (loss)	​	​	15	​	​	(3)	​	​	12	​
Reclassification of realized (gain) loss to:	​	​	​	​	​	​	​	​	​	​
Interest rate contracts – Interest expense	​	​	2	​	​	​	​	​	2	​
Net unrealized gain (loss) on derivatives	​	​	17	​	​	(3)	​	​	14	​
Unrealized gain (loss) on debt securities:	​	​	​	​	​	​	​	​	​	​
Unrealized holding gain (loss)	​	​	(19)	​	​	4	​	​	(15)	​
Net unrealized gain (loss) on debt securities	​	​	(19)	​	​	4	​	​	(15)	​
Retirement benefits adjustment:	​	​	​	​	​	​	​	​	​	​
Net actuarial gain (loss) and prior service credit (cost)	​	​	(500)	​	​	120	​	​	(380)	​
Reclassification to other operating expenses through amortization of:	​	​	​	​	​	​	​	​	​	​
Actuarial (gain) loss	​	​	40	​	​	(10)	​	​	30	​
Prior service (credit) cost	​	​	6	​	​	(2)	​	​	4	​
Settlements	​	​	1	​	​	​	​	​	1	​
Net unrealized gain (loss) on retirement benefits adjustment	​	​	(453)	​	​	108	​	​	(345)	​
Total other comprehensive income (loss)		$	(719)	​	$	106	​	$	(613)	​

​

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The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

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