PENSION AND OTHER POSTRETIREMENT BENEFITS

Schedule of Benefit Plan Costs Recorded in Net Income and Other Changes in Plan Assets and Benefit Obligations Recorded in Other Comprehensive Income

The previous pension cost in net income and other changes in plan assets and benefit obligations in other comprehensive income in millions of dollars were as follows:


	2019		2018		2017
Pensions
Net cost	$	70	$	154	$	106
Retirement benefit adjustments included in other comprehensive (income) loss:
Net actuarial (gain) loss		887		(553)		(702)
Amortization of actuarial loss		(143)		(226)		(247)
Amortization of prior service cost		(11)		(12)		(12)
Settlements		(3)		(8)		(2)
Total (gain) loss recognized in other comprehensive (income) loss		730		(799)		(963)
Total recognized in comprehensive (income) loss	$	800	$	(645)	$	(857)

The previous OPEB cost in net income and other changes in plan assets and benefit obligations in other comprehensive income in millions of dollars were as follows:


	2019		2018		2017
OPEB
Net cost	$	165	$	199	$	241
Retirement benefit adjustments included in other comprehensive (income) loss:
Net actuarial (gain) loss		141		(608)		(309)
Prior service cost				5
Amortization of actuarial loss		(16)		(62)		(99)
Amortization of prior service credit		72		77		77
Total (gain) loss recognized in other comprehensive (income) loss		197		(588)		(331)
Total recognized in comprehensive (income) loss	$	362	$	(389)	$	(90)

Schedule of Amounts Recognized in Balance Sheet and Accumulated Other Comprehensive Income - Pretax

The amounts recognized at November 3, 2019 and October 28, 2018, respectively, in millions of dollars consist of the following:


	Pensions				OPEB
	2019		2018		2019		2018
Amounts recognized in balance sheet
Noncurrent asset	$	840	$	1,298
Current liability		(56)		(36)	$	(35)	$	(34)
Noncurrent liability		(1,010)		(768)		(4,651)		(4,719)
Total	$	(226)	$	494	$	(4,686)	$	(4,753)
Amounts recognized in accumulated other comprehensive income – pretax
Net actuarial loss	$	4,312	$	3,571	$	912	$	787
Prior service cost (credit)		32		43		(28)		(100)
Total	$	4,344	$	3,614	$	884	$	687

Fair Values of Pension Plan and Health Care Assets

The fair values of the pension plan assets at November 3, 2019 follow in millions of dollars:


	Total		Level 1		Level 2
Cash and short-term investments	$	587	$	353	$	234
Equity:
U.S. equity securities		1,192		1,156		36
International equity securities		981		974		7
Fixed Income:
Government and agency securities		1,257		970		287
Corporate debt securities		2,416		1		2,415
Mortgage-backed securities		90				90
Real estate		69		63		6
Derivative contracts - assets*		208		17		191
Derivative contracts - liabilities**		(47)		(13)		(34)
Receivables, payables, and other		(106)		(107)		1
Securities lending collateral		476				476
Securities lending liability		(476)				(476)
Securities sold short		(279)		(275)		(4)
Total of Level 1 and Level 2 assets		6,368	$	3,139	$	3,229
Investments at net asset value:
Short-term investments		398
U.S. equity funds		1,250
International equity funds		764
Fixed income funds		1,529
Real estate		648
Hedge funds		679
Private equity/venture capital		1,913
Other investments		475
Total net assets	$	14,024

* Includes contracts for interest rates of $171 million, foreign currency of $20 million, equity of $10 million, and other of $7 million.

** Includes contracts for foreign currency of $26 million, interest rates of $20 million, and other of $1 million.

The fair values of the health care assets at November 3, 2019 follow in millions of dollars:


	Total		Level 1		Level 2
Cash and short-term investments	$	81	$	77	$	4
Equity:
U.S. equity securities and funds		41		41
International equity securities		9		9
Fixed Income:
Government and agency securities		112		101		11
Corporate debt securities		43				43
Mortgage-backed securities		15				15
Other				(2)		2
Securities lending collateral		20				20
Securities lending liability		(20)				(20)
Securities sold short		(4)		(4)
Total of Level 1 and Level 2 assets		297	$	222	$	75
Investments at net asset value:
Short-term investments		4
U.S. equity funds		311
International equity funds		197
Fixed income funds		84
Hedge funds		9
Private equity/venture capital		22
Other investments		12
Total net assets	$	936

The fair values of the pension plan assets at October 28, 2018 follow in millions of dollars:


	Total		Level 1		Level 2
Cash and short-term investments	$	868	$	377	$	491
Equity:
U.S. equity securities		1,495		1,466		29
International equity securities		1,143		1,136		7
Fixed Income:
Government and agency securities		764		500		264
Corporate debt securities		1,626				1,626
Mortgage-backed securities		53				53
Real estate		76		72		4
Derivative contracts - assets*		102		3		99
Derivative contracts - liabilities**		(115)		(40)		(75)
Receivables, payables, and other		(9)		(10)		1
Securities lending collateral		561				561
Securities lending liability		(561)				(561)
Securities sold short		(333)		(330)		(3)
Total of Level 1 and Level 2 assets		5,670	$	3,174	$	2,496
Investments at net asset value:
Short-term investments		219
U.S. equity funds		1,526
International equity funds		802
Fixed income funds		1,290
Real estate		654
Hedge funds		724
Private equity/venture capital		1,680
Other investments		37
Total net assets	$	12,602

* Includes contracts for interest rates of $48 million, foreign currency of $47 million, and other of $7 million.

** Includes contracts for interest rates of $49 million, foreign currency of $28 million, equity of $29 million, and other of $9 million.

The fair values of the health care assets at October 28, 2018 follow in millions of dollars:


	Total		Level 1		Level 2
Cash and short-term investments	$	78	$	73	$	5
Equity:
U.S. equity securities and funds		54		54
International equity securities		10		10
Fixed Income:
Government and agency securities		57		53		4
Corporate debt securities		29				29
Mortgage-backed securities		11				11
Other		1				1
Securities lending collateral		24				24
Securities lending liability		(24)				(24)
Securities sold short		(3)		(3)
Total of Level 1 and Level 2 assets		237	$	187	$	50
Investments at net asset value:
Short-term investments		2
U.S. equity funds		220
International equity funds		146
Fixed income funds		83
Hedge funds		7
Private equity/venture capital		17
Other Investments		7
Total net assets	$	719