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PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables) | 6 Months Ended
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Apr. 30, 2023
PENSION AND OTHER POSTRETIREMENT BENEFITS |
Schedule of Components of Net Periodic Pension and OPEB (Benefit) Cost | The Company has several defined benefit pension plans and other postretirement employee benefit (OPEB) plans, primarily health care and life insurance plans, covering its U.S. employees and employees in certain foreign countries. The components of net periodic pension and OPEB (benefit) cost consisted of the following in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended |
​ | ​ | April 30 | ​ | May 1 | ​ | April 30 | ​ | May 1 |
​ | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022 |
Pension | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Service cost |  | $ | 64 |  | $ | 94 |  | $ | 124 |  | $ | 179 | ​
Interest cost | ​ | ​ | 134 | ​ |  | 80 | ​ | ​ | 267 | ​ |  | 157 | ​
Expected return on plan assets | ​ | ​ | (220) | ​ |  | (180) | ​ | ​ | (432) | ​ |  | (362) | ​
Amortization of actuarial (gain) loss | ​ | ​ | (6) | ​ |  | 37 | ​ | ​ | (11) | ​ |  | 76 | ​
Amortization of prior service cost | ​ | ​ | 10 | ​ |  | 9 | ​ | ​ | 20 | ​ |  | 16 | ​
Settlements | ​ | ​ | 36 | ​ |  | 7 | ​ | ​ | 36 | ​ |  | 8 | ​
Net cost | ​ | $ | 18 | ​ | $ | 47 | ​ | $ | 4 | ​ | $ | 74 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPEB | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Service cost |  | $ | 6 |  | $ | 11 |  | $ | 13 |  | $ | 23 | ​
Interest cost | ​ | ​ | 45 | ​ |  | 23 | ​ | ​ | 88 | ​ |  | 49 | ​
Expected return on plan assets | ​ | ​ | (29) | ​ |  | (27) | ​ | ​ | (58) | ​ |  | (55) | ​
Amortization of actuarial gain | ​ | ​ | (14) | ​ |  | (10) | ​ | ​ | (30) | ​ |  | (9) | ​
Amortization of prior service credit | ​ | ​ | ​ | ​ |  | (1) | ​ | ​ | (1) | ​ |  | (2) | ​
Net (benefit) cost | ​ | $ | 8 | ​ | $ | (4) | ​ | $ | 12 | ​ | $ | 6 | ​
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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