8. Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss ("AOCL"), net of tax, is comprised of the following:
| | May 3, | | | May 4, | | | February 1, | |
($ in millions) | | 2025 | | | 2024 | | | 2025 | |
Foreign currency translation adjustments | | $ | (147 | ) | | $ | (192 | ) | | $ | (208 | ) |
Hedge contracts | | | (3 | ) | | | (3 | ) | | | — | |
Unrecognized pension cost and postretirement benefit | | | (175 | ) | | | (190 | ) | | | (175 | ) |
| | $ | (325 | ) | | $ | (385 | ) | | $ | (383 | ) |
The changes in AOCL for the thirteen weeks ended May 3, 2025 were as follows:
($ in millions) | | Foreign Currency Translation Adjustments | | | Hedge Contracts | | | Items Related to Pension and Postretirement Benefits | | | Total | |
Balance as of February 1, 2025 | | $ | (208 | ) | | $ | — | | | $ | (175 | ) | | $ | (383 | ) |
| | | | | | | | | | | | | |
OCI before reclassification | | | 61 | | | | (8 | ) | | | (1 | ) | | | 52 | |
Reclassification of hedges, net of tax | | | — | | | | 5 | | | | — | | | | 5 | |
Amortization of pension actuarial loss, net of tax | | | — | | | | — | | | | 1 | | | | 1 | |
Other comprehensive (loss) income | | | 61 | | | | (3 | ) | | | — | | | | 58 | |
Balance as of May 3, 2025 | | $ | (147 | ) | | $ | (3 | ) | | $ | (175 | ) | | $ | (325 | ) |
Reclassifications from AOCL for the thirteen weeks ended May 3, 2025 were as follows:
($ in millions) | | | |
Reclassification of hedge loss: | | | | |
Cross-currency swap | | $ | 6 | |
Income tax | | | (1 | ) |
Reclassification of hedges, net of tax | | $ | 5 | |
| | | |
Amortization of actuarial loss: | | | |
Pension benefits | | $ | 2 | |
Income tax | | | (1 | ) |
Amortization of actuarial loss, net of tax | | $ | 1 | |
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