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ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 12 Months Ended
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Oct. 31, 2015
ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses at October 31 consisted of the following in millions of dollars:
|  | 2015 |  | 2014 |
Equipment Operations |  |  |  |  |  |  |
Accounts payable: |  |  |  |  |  |  |
Trade payables |  | $ | 1,435 |  | $ | 1,661 |
Dividends payable |  |  | 193 |  |  | 210 |
Other |  |  | 186 |  |  | 208 |
Accrued expenses: |  |  |  |  |  |  |
Dealer sales discounts |  |  | 1,423 |  |  | 1,551 |
Employee benefits |  |  | 1,122 |  |  | 1,350 |
Product warranties |  |  | 807 |  |  | 809 |
Unearned revenue |  |  | 379 |  |  | 355 |
Other |  |  | 1,256 |  |  | 1,374 |
Total |  |  | 6,801 |  |  | 7,518 |
Financial Services |  |  |  |  |  |  |
Accounts payable: |  |  |  |  |  |  |
Deposits withheld from dealers and merchants |  |  | 179 |  |  | 196 |
Other |  |  | 258 |  |  | 468 |
Accrued expenses: |  |  |  |  |  |  |
Unearned revenue |  |  | 671 |  |  | 647 |
Accrued interest |  |  | 111 |  |  | 103 |
Employee benefits |  |  | 71 |  |  | 87 |
Insurance claims reserve* |  |  | 29 |  |  | 247 |
Other |  |  | 192 |  |  | 279 |
Total |  |  | 1,511 |  |  | 2,027 |
Eliminations** |  |  | 1,001 |  |  | 991 |
Accounts payable and accrued expenses |  | $ | 7,311 |  | $ | 8,554 |
*See Note 9 **Pri marily trade receivable valuation accounts which are reclassified as accrued expenses by the equipment operations as a result of their trade receivables being sold to financial services.

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- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
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