BROWN FORMAN CORP - 10-K filing on 2021-06-21

Other Comprehensive Income (Tables)

12 Months Ended

Apr. 30, 2021

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss) [Table Text Block]

The following table presents the components of net other comprehensive income (loss) during each of the last three years:


	Pre-Tax		Tax		Net
Year Ended April 30, 2019
Currency translation adjustments:
Net gain (loss) on currency translation	$	(16)	$	(11)	$	(27)
Reclassification to earnings	—		—		—
Other comprehensive income (loss), net	(16)		(11)		(27)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments	69		(16)		53
Reclassification to earnings1	(6)		1		(5)
Other comprehensive income (loss), net	63		(15)		48
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost	(41)		10		(31)
Reclassification to earnings2	33		(8)		25
Other comprehensive income (loss), net	(8)		2		(6)

Total other comprehensive income (loss), net	$	39	$	(24)	$	15

Year Ended April 30, 2020
Currency translation adjustments:
Net gain (loss) on currency translation	$	(88)	$	(6)	$	(94)
Reclassification to earnings	—		—		—
Other comprehensive income (loss), net	(88)		(6)		(94)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments	61		(14)		47
Reclassification to earnings1	(23)		6		(17)
Other comprehensive income (loss), net	38		(8)		30
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost	(119)		28		(91)
Reclassification to earnings2	18		(4)		14
Other comprehensive income (loss), net	(101)		24		(77)

Total other comprehensive income (loss), net	$	(151)	$	10	$	(141)

Year Ended April 30, 2021
Currency translation adjustments:
Net gain (loss) on currency translation	$	106	$	17	$	123
Reclassification to earnings	—		—		—
Other comprehensive income (loss), net	106		17		123
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments	(78)		17		(61)
Reclassification to earnings1	(21)		6		(15)
Other comprehensive income (loss), net	(99)		23		(76)
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost	71		(16)		55
Reclassification to earnings2	30		(7)		23
Other comprehensive income (loss), net	101		(23)		78

Total other comprehensive income (loss), net	$	108	$	17	$	125

1Pre-tax amount is classified as sales in the accompanying consolidated statements of operations.

2For the year ended April 30, 2021, $4 of the pre-tax amount of $30 is classified in gain on sale of business in the accompanying consolidated statements of operations. Otherwise, the pre-tax amount for each year is classified as non-operating postretirement expense.