|
(3) Accumulated Other Comprehensive Income
The following table provides changes in accumulated other comprehensive income (“AOCI”), net of tax, reported in our unaudited condensed consolidated financial statements for the periods ended February 28, 2021 and February 29, 2020 (in millions; amounts in parentheses indicate debits to AOCI):
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
Foreign currency translation loss: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
$ |
(954 |
) |
|
$ |
(964 |
) |
|
$ |
(1,207 |
) |
|
$ |
(954 |
) |
|
Translation adjustments |
|
|
136 |
|
|
|
(1 |
) |
|
|
389 |
|
|
|
(12 |
) |
|
Reclassification to retained earnings due to the adoption of ASU 2018-02 |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
Balance at end of period |
|
|
(818 |
) |
|
|
(965 |
) |
|
|
(818 |
) |
|
|
(965 |
) |
|
Retirement plans adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
|
56 |
|
|
|
98 |
|
|
|
60 |
|
|
|
89 |
|
|
Reclassifications from AOCI |
|
|
(2 |
) |
|
|
(20 |
) |
|
|
(6 |
) |
|
|
(61 |
) |
|
Reclassification to retained earnings due to the adoption of ASU 2018-02 |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
50 |
|
|
Balance at end of period |
|
|
54 |
|
|
|
78 |
|
|
|
54 |
|
|
|
78 |
|
|
Accumulated other comprehensive (loss) at end of period |
|
$ |
(764 |
) |
|
$ |
(887 |
) |
|
$ |
(764 |
) |
|
$ |
(887 |
) |
The following table presents details of the reclassifications from AOCI for the periods ended February 28, 2021 and February 29, 2020 (in millions; amounts in parentheses indicate debits to earnings):
|
|
|
Amount Reclassified from
AOCI |
|
|
Affected Line Item in the
Income Statement |
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
|
Amortization of retirement plans
prior service credits, before tax |
|
$ |
2 |
|
|
$ |
27 |
|
|
$ |
7 |
|
|
$ |
80 |
|
|
Other retirement plans income |
|
Income tax benefit |
|
|
— |
|
|
|
(7 |
) |
|
|
(1 |
) |
|
|
(19 |
) |
|
Provision for income taxes |
|
AOCI reclassifications, net of tax |
|
$ |
2 |
|
|
$ |
20 |
|
|
$ |
6 |
|
|
$ |
61 |
|
|
Net income |
|