OTHER COMPREHENSIVE INCOME ITEMS (Tables)

12 Months Ended

Oct. 30, 2022

OTHER COMPREHENSIVE INCOME ITEMS

Schedule of After-Tax Components of Accumulated Other Comprehensive Income (Loss)

The after-tax components of accumulated other comprehensive income follow in millions of dollars.


			2022			2021			2020
Retirement benefits adjustment		$	(389)		$	(1,034)		$	(3,918)
Cumulative translation adjustment			(2,594)			(1,478)			(1,596)
Unrealized gain (loss) on derivatives			21			(42)			(58)
Unrealized gain (loss) on debt securities			(94)			15			33
Total accumulated other comprehensive income (loss)		$	(3,056)		$	(2,539)		$	(5,539)

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/curtailment are included in net periodic pension and other postretirement benefit costs (see Note 7).


		Before			Tax			After
		Tax			(Expense)			Tax
		Amount			Credit			Amount
2022
Cumulative translation adjustment		$	(1,105)		$	(11)		$	(1,116)
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)			89			(19)			70
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense			(9)			2			(7)
Net unrealized gain (loss) on derivatives			80			(17)			63
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)			(140)			30			(110)
Reclassification of realized (gain) loss – Other income			1						1
Net unrealized gain (loss) on debt securities			(139)			30			(109)
Retirement benefits adjustment:
Net actuarial gain (loss)			1,192			(298)			894
Prior service credit (cost)			(517)			124			(393)
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss			116			(29)			87
Prior service (credit) cost			30			(7)			23
Settlements/curtailments			45			(11)			34
Net unrealized gain (loss) on retirement benefits adjustment			866			(221)			645
Total other comprehensive income (loss)		$	(298)		$	(219)		$	(517)


		Before			Tax			After
		Tax			(Expense)			Tax
		Amount			Credit			Amount
2021
Cumulative translation adjustment:
Unrealized translation gain (loss)		$	112					$	112
Reclassification of realized (gain) loss to:
Equity in (income) loss of unconsolidated affiliates			6						6
Net unrealized translation gain (loss)			118						118
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)			8		$	(2)			6
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense			13			(3)			10
Net unrealized gain (loss) on derivatives			21			(5)			16
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)			(21)			3			(18)
Net unrealized gain (loss) on debt securities			(21)			3			(18)
Retirement benefits adjustment:
Net actuarial gain (loss)			3,492			(845)			2,647
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss			283			(69)			214
Prior service (credit) cost			8			(2)			6
Settlements			22			(5)			17
Net unrealized gain (loss) on retirement benefits adjustment			3,805			(921)			2,884
Total other comprehensive income (loss)		$	3,923		$	(923)		$	3,000


		Before			Tax			After
		Tax			(Expense)			Tax
		Amount			Credit			Amount
2020
Cumulative translation adjustment:
Unrealized translation gain (loss)		$	18		$	1		$	19
Reclassification of realized (gain) loss to:
Other operating expenses			13						13
Equity in (income) loss of unconsolidated affiliates			23						23
Net unrealized translation gain (loss)			54			1			55
Unrealized gain (loss) on derivatives:
Unrealized hedging gain (loss)			(18)			2			(16)
Reclassification of realized (gain) loss to:
Interest rate contracts – Interest expense			21			(3)			18
Net unrealized gain (loss) on derivatives			3			(1)			2
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)			17			(3)			14
Net unrealized gain (loss) on debt securities			17			(3)			14
Retirement benefits adjustment:
Net actuarial gain (loss)			(302)			65			(237)
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss			278			(68)			210
Prior service (credit) cost			7			(2)			5
Settlements			26			(7)			19
Net unrealized gain (loss) on retirement benefits adjustment			9			(12)			(3)
Total other comprehensive income (loss)		$	83		$	(15)		$	68