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STOCKHOLDERS' EQUITY (Notes)
 6 Months Ended
Apr. 30, 2020
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS EQUITY STOCKHOLDERS' EQUITY
 
Stock Repurchase Program
 
On November 19, 2018 we announced that our board of directors had approved a new share repurchase program (the "2019 repurchase program") designed, among other things, to reduce or eliminate dilution resulting from issuance of stock under the company's employee equity incentive programs. The 2019 repurchase program authorizes the purchase of up to $1.75 billion of our common stock at the company's discretion and has no fixed termination date. The 2019 repurchase program does not require the company to acquire a specific number of shares and may be suspended, amended or discontinued at any time.

During the three and six months ended April 30, 2020, we repurchased and retired approximately 1.663 million shares for $126 million and 2.389 million shares for $186 million, respectively, under this authorization. During the three and six months ended April 30, 2019, we repurchased approximately 638,000 shares for $50 million and 1.766 million shares for $125 million, respectively, under this authorization. During the three and six months ended April 30, 2019 we retired approximately 629,000 shares for $49 million and 1.757 million shares for $124 million, respectively. As of April 30, 2020, we had remaining authorization to repurchase up to $841 million of our common stock under this program. On March 23, 2020, we suspended stock repurchases in light of the COVID-19 pandemic, and we have the ability to reinstate repurchases as circumstances warrant.

 
Cash Dividends on Shares of Common Stock
 
During the three and six months ended April 30, 2020, we paid cash dividends of $0.18 per common share or $55 million and $0.360 per common share or $111 million, respectively, on the company's common stock. During the three and six months ended April 30, 2019, we paid cash dividends of $0.164 per common share or $52 million and $0.328 per common share or $104 million, respectively, on the company's common stock.

On May 20, 2020, our board of directors declared a quarterly dividend of $0.18 per share of common stock or approximately $56 million which will be paid on July 22, 2020 to all shareholders of record at close of business on June 30, 2020. The timing and amounts of any future dividends are subject to determination and approval by our board of directors.


Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component and related tax effects were as follows (in millions):
 
 
 
 
Net defined benefit pension cost and post retirement plan costs
 
 
 
 
Three Months Ended April 30, 2020
 
Foreign currency translation
 
Prior service credits
 
Actuarial Losses
 
Unrealized gains (losses) on derivatives
 
Total
 
 
(in millions)
As of January 31, 2020
 
$
(215
)
 
$
128

 
$
(431
)
 
$
(3
)
 
$
(521
)
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
 
(29
)
 
—

 
—

 
2

 
(27
)

 
 
 
 
 
 
 
 
 
 
Amounts reclassified out of accumulated other comprehensive income (loss)
 
—

 
(2
)
 
14

 
(1
)
 
11


 
 
 
 
 
 
 
 
 
 
Tax (expense) benefit
 
—

 
1

 
(2
)
 
—

 
(1
)

 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
 
(29
)
 
(1
)
 
12

 
1

 
(17
)

 
 
 
 
 
 
 
 
 
 
As of April 30, 2020
 
$
(244
)
 
$
127

 
$
(419
)
 
$
(2
)
 
$
(538
)
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended April 30, 2020
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of October 31, 2019
 
$
(204
)
 
$
131

 
$
(437
)
 
$
(4
)
 
$
(514
)
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
 
(40
)
 
—

 
(5
)
 
3

 
(42
)
 
 
 
 
 
 
 
 
 
 
 
Amounts reclassified out of accumulated other comprehensive income (loss)
 
—

 
(4
)
 
28

 
(1
)
 
23

 
 
 
 
 
 
 
 
 
 
 
Tax expense
 
—

 
—

 
(5
)
 
—

 
(5
)
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
 
(40
)
 
(4
)
 
18

 
2

 
(24
)
 
 
 
 
 
 
 
 
 
 
 
As of April 30, 2020
 
$
(244
)
 
$
127

 
$
(419
)
 
$
(2
)
 
$
(538
)


Reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended April 30, 2020 and 2019 were as follows (in millions):
Details about accumulated other
comprehensive income (loss) components
 
Amounts Reclassified from
other comprehensive income (loss)
 
Affected line item in
statement of operations
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
 
April 30,
 
April 30,
 
 
 
 
2020

2019
 
2020
 
2019
 
 
 
 



 
 
 
 
 
 
Unrealized gain on derivatives
 
$
2


$
—

 
$
2

 
$
5

 
Cost of products
 
 
(1
)
 
—

 
(1
)
 
—

 
Interest expense
 
 
1


—

 
1

 
5

 
Total before income tax
 
 
—


—

 
—

 
(1
)
 
Provision for income tax
 
 
1


—

 
1

 
4

 
Total net of income tax
Net defined benefit pension cost and post retirement plan costs:
 



 
 
 
 
 
 
 
 



 
 
 
 
 
 
Actuarial net loss
 
(14
)

(10
)
 
(28
)
 
(20
)
 
 
Prior service benefit
 
2


2

 
4

 
4

 
 
 
 
(12
)

(8
)
 
(24
)
 
(16
)
 
Total before income tax
 
 
2


1

 
8

 
5

 
Benefit for income tax
 
 
(10
)

(7
)
 
(16
)
 
(11
)
 
Total net of income tax
 
 



 
 
 
 
 
 
Total reclassifications for the period
 
$
(9
)

$
(7
)
 
$
(15
)
 
$
(7
)
 
 


Amounts in parentheses indicate reductions to income and increases to other comprehensive income (loss).

Reclassifications out of accumulated other comprehensive income (loss) of prior service benefit and actuarial net loss in respect of retirement plans and post retirement pension plans are included in the computation of net periodic cost (see Note 13, "Retirement Plans and Post Retirement Pension Plans").