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OTHER COMPREHENSIVE INCOME ITEMS (Tables) | 6 Months Ended
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Apr. 30, 2023
OTHER COMPREHENSIVE INCOME ITEMS |
Schedule of After-Tax Components of Accumulated Other Comprehensive Income (Loss) | The after-tax components of accumulated other comprehensive income (loss) in millions of dollars follow:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | April 30 | ​ | October 30 | ​ | May 1 | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2022 | ​
Retirement benefits adjustment | ​ | $ | (647) | ​ | $ | (389) | ​ | $ | (1,250) | ​
Cumulative translation adjustment | ​ | ​ | (1,813) | ​ | ​ | (2,594) | ​ | ​ | (1,993) | ​
Unrealized gain (loss) on derivatives | ​ | ​ | (10) | ​ | ​ | 21 | ​ | ​ | ​ | ​
Unrealized gain (loss) on debt securities | ​ | ​ | (68) | ​ | ​ | (94) | ​ | ​ | (48) | ​
Total accumulated other comprehensive income (loss) | ​ | $ | (2,538) | ​ | $ | (3,056) | ​ | $ | (3,291) | ​
​
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. 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 April 30, 2023 | ​ | Amount | ​ | Credit | ​ | Amount |
Cumulative translation adjustment | ​ | $ | 100 | ​ | ​ | ​ | ​ | $ | 100 | ​
Unrealized gain (loss) on derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized hedging gain (loss) | ​ | ​ | (4) | ​ | $ | 1 | ​ | ​ | (3) | ​
Reclassification of realized (gain) loss to: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate contracts – Interest expense | ​ | ​ | (19) | ​ | ​ | 4 | ​ | ​ | (15) | ​
Net unrealized gain (loss) on derivatives | ​ | ​ | (23) | ​ | ​ | 5 | ​ | ​ | (18) | ​
Unrealized gain (loss) on debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized holding gain (loss) | ​ | ​ | (2) | ​ | ​ | 1 | ​ | ​ | (1) | ​
Net unrealized gain (loss) on debt securities | ​ | ​ | (2) | ​ | ​ | 1 | ​ | ​ | (1) | ​
Retirement benefits adjustment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net actuarial gain (loss) | ​ | ​ | (349) | ​ | ​ | 83 | ​ | ​ | (266) | ​
Reclassification of amortized amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Actuarial (gain) loss – Other operating expenses | ​ | ​ | (20) | ​ | ​ | 5 | ​ | ​ | (15) | ​
Prior service (credit) cost – Other operating expenses | ​ | ​ | 10 | ​ | ​ | (2) | ​ | ​ | 8 | ​
Settlements – Other operating expenses | ​ | ​ | 36 | ​ | ​ | (10) | ​ | ​ | 26 | ​
Net unrealized gain (loss) on retirement benefits adjustment | ​ | ​ | (323) | ​ | ​ | 76 | ​ | ​ | (247) | ​
Total other comprehensive income (loss) |  | $ | (248) | ​ | $ | 82 | ​ | $ | (166) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Before |  | Tax |  | After |
​ | ​ | Tax | ​ | (Expense) | ​ | Tax |
Six Months Ended April 30, 2023 | ​ | Amount | ​ | Credit | ​ | Amount |
Cumulative translation adjustment |  | $ | 771 | ​ | $ | 10 | ​ | $ | 781 | ​
Unrealized gain (loss) on derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized hedging gain (loss) | ​ | ​ | (5) | ​ | ​ | 1 | ​ | ​ | (4) | ​
Reclassification of realized (gain) loss to: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate contracts – Interest expense | ​ | ​ | (34) | ​ | ​ | 7 | ​ | ​ | (27) | ​
Net unrealized gain (loss) on derivatives | ​ | ​ | (39) | ​ | ​ | 8 | ​ | ​ | (31) | ​
Unrealized gain (loss) on debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized holding gain (loss) | ​ | ​ | 33 | ​ | ​ | (7) | ​ | ​ | 26 | ​
Net unrealized gain (loss) on debt securities | ​ | ​ | 33 | ​ | ​ | (7) | ​ | ​ | 26 | ​
Retirement benefits adjustment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net actuarial gain (loss) | ​ | ​ | (350) | ​ | ​ | 83 | ​ | ​ | (267) | ​
Reclassification of amortized amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Actuarial (gain) loss – Other operating expenses | ​ | ​ | (41) | ​ | ​ | 10 | ​ | ​ | (31) | ​
Prior service (credit) cost – Other operating expenses | ​ | ​ | 19 | ​ | ​ | (5) | ​ | ​ | 14 | ​
Settlements – Other operating expenses | ​ | ​ | 36 | ​ | ​ | (10) | ​ | ​ | 26 | ​
Net unrealized gain (loss) on retirement benefits adjustment | ​ | ​ | (336) | ​ | ​ | 78 | ​ | ​ | (258) | ​
Total other comprehensive income (loss) |  | $ | 429 | ​ | $ | 89 | ​ | $ | 518 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Before |  | Tax |  | After |
​ | ​ | Tax | ​ | (Expense) | ​ | Tax |
Three Months Ended May 1, 2022 | ​ | Amount | ​ | Credit | ​ | Amount |
Cumulative translation adjustment |  | $ | (243) | ​ | $ | (5) | ​ | $ | (248) | ​
Unrealized gain (loss) on derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized hedging gain (loss) | ​ | ​ | 35 | ​ | ​ | (7) | ​ | ​ | 28 | ​
Reclassification of realized (gain) loss to: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate contracts – Interest expense | ​ | ​ | 1 | ​ | ​ | (1) | ​ | ​ | ​ | ​
Net unrealized gain (loss) on derivatives | ​ | ​ | 36 | ​ | ​ | (8) | ​ | ​ | 28 | ​
Unrealized gain (loss) on debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized holding gain (loss) | ​ | ​ | (61) | ​ | ​ | 13 | ​ | ​ | (48) | ​
Net unrealized gain (loss) on debt securities | ​ | ​ | (61) | ​ | ​ | 13 | ​ | ​ | (48) | ​
Retirement benefits adjustment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net actuarial gain (loss) | ​ | ​ | 128 | ​ | ​ | (30) | ​ | ​ | 98 | ​
Reclassification of amortized amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Actuarial (gain) loss – Other operating expenses | ​ | ​ | 27 | ​ | ​ | (7) | ​ | ​ | 20 | ​
Prior service (credit) cost – Other operating expenses | ​ | ​ | 8 | ​ | ​ | (2) | ​ | ​ | 6 | ​
Settlements – Other operating expenses | ​ | ​ | 7 | ​ | ​ | (2) | ​ | ​ | 5 | ​
Net unrealized gain (loss) on retirement benefits adjustment | ​ | ​ | 170 | ​ | ​ | (41) | ​ | ​ | 129 | ​
Total other comprehensive income (loss) |  | $ | (98) | ​ | $ | (41) | ​ | $ | (139) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Before |  | Tax |  | After |
​ | ​ | Tax | ​ | (Expense) | ​ | Tax |
Six Months Ended May 1, 2022 | ​ | Amount | ​ | Credit | ​ | Amount |
Cumulative translation adjustment |  | $ | (507) |  | $ | (8) | ​ | $ | (515) | ​
Unrealized gain (loss) on derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized hedging gain (loss) | ​ | ​ | 50 | ​ | ​ | (10) | ​ | ​ | 40 | ​
Reclassification of realized (gain) loss to: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate contracts – Interest expense | ​ | ​ | 3 | ​ | ​ | (1) | ​ | ​ | 2 | ​
Net unrealized gain (loss) on derivatives | ​ | ​ | 53 | ​ | ​ | (11) | ​ | ​ | 42 | ​
Unrealized gain (loss) on debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized holding gain (loss) | ​ | ​ | (80) | ​ | ​ | 17 | ​ | ​ | (63) | ​
Net unrealized gain (loss) on debt securities | ​ | ​ | (80) | ​ | ​ | 17 | ​ | ​ | (63) | ​
Retirement benefits adjustment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net actuarial gain (loss) and prior service credit (cost) | ​ | ​ | (372) | ​ | ​ | 90 | ​ | ​ | (282) | ​
Reclassification of amortized amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Actuarial (gain) loss – Other operating expenses | ​ | ​ | 67 | ​ | ​ | (17) | ​ | ​ | 50 | ​
Prior service (credit) cost – Other operating expenses | ​ | ​ | 14 | ​ | ​ | (4) | ​ | ​ | 10 | ​
Settlements – Other operating expenses | ​ | ​ | 8 | ​ | ​ | (2) | ​ | ​ | 6 | ​
Net unrealized gain (loss) on retirement benefits adjustment | ​ | ​ | (283) | ​ | ​ | 67 | ​ | ​ | (216) | ​
Total other comprehensive income (loss) |  | $ | (817) | ​ | $ | 65 | ​ | $ | (752) | ​

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