RECEIVABLES (Tables)

12 Months Ended

Oct. 31, 2015

Accounts, Notes, Loans and Financing Receivable

Schedule of Financing Receivable Installments

Financing receivable installments, including unearned finance income, at October 31 are scheduled as follows in millions of dollars:


	2015				2014
	Unrestricted/Securitized				Unrestricted/Securitized

Due in months:
0 – 12	$	13,006	$	2,057	$	14,357	$	1,878
13 – 24		4,987		1,418		5,254		1,331
25 – 36		3,719		921		4,053		880
37 – 48		2,444		426		2,819		457
49 – 60		1,283		95		1,575		120
Thereafter		348		5		414		6
Total	$	25,787	$	4,922	$	28,472	$	4,672

Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables

An age analysis of past due financing receivables that are still accruing interest and non-performing financing receivables at October 31 follows in millions of dollars:


	30-59		60-89		90 Days
	Days		Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due

2015
Retail Notes:
Agriculture and turf	$	112	$	54	$	47	$	213
Construction and forestry		64		29		12		105
Other:
Agriculture and turf		26		12		4		42
Construction and forestry		13		5		3		21
Total	$	215	$	100	$	66	$	381


			Total				Total
	Total		Non-				Financing
	Past Due		Performing		Current		Receivables

Retail Notes:
Agriculture and turf	$	213	$	98	$	18,574	$	18,885
Construction and forestry		105		21		2,556		2,682
Other:
Agriculture and turf		42		13		7,175		7,230
Construction and forestry		21		10		973		1,004
Total	$	381	$	142	$	29,278		29,801
Less allowance for credit losses								157
Total financing receivables - net							$	29,644


	30-59		60-89		90 Days
	Days		Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due

2014
Retail Notes:
Agriculture and turf	$	93	$	34	$	28	$	155
Construction and forestry		54		16		7		77
Other:
Agriculture and turf		23		12		2		37
Construction and forestry		12		3		4		19
Total	$	182	$	65	$	41	$	288


			Total				Total
	Total		Non-				Financing
	Past Due		Performing		Current		Receivables

Retail Notes:
Agriculture and turf	$	155	$	107	$	19,966	$	20,228
Construction and forestry		77		17		2,462		2,556
Other:
Agriculture and turf		37		15		8,208		8,260
Construction and forestry		19		2		1,134		1,155
Total	$	288	$	141	$	31,770		32,199
Less allowance for credit losses								175
Total financing receivables - net							$	32,024

Analysis of the Allowance for Credit Losses and Investment in Financing Receivables

An analysis of the allowance for credit losses and investment in financing receivables follows in millions of dollars:


			Revolving
	Retail		Charge
	Notes		Accounts		Other		Total

2015
Allowance:
Beginning of year balance	$	109	$	41	$	25	$	175
Provision		22		21		3		46
Write-offs		(26)		(37)		(4)		(67)
Recoveries		10		15		1		26
Translation adjustments		(20)				(3)		(23)
End of year balance*	$	95	$	40	$	22	$	157

Financing receivables:
End of year balance	$	21,567	$	2,740	$	5,494	$	29,801

Balance individually evaluated	$	40			$	6	$	46

*Individual allowances were not significant.


2014
Allowance:
Beginning of year balance	$	101	$	41	$	31	$	173
Provision		18		11		2		31
Write-offs		(16)		(26)		(7)		(49)
Recoveries		11		15				26
Translation adjustments		(5)				(1)		(6)
End of year balance*	$	109	$	41	$	25	$	175

Financing receivables:
End of year balance	$	22,784	$	2,603	$	6,812	$	32,199

Balance individually evaluated	$	26			$	1	$	27

*Individual allowances were not significant.


2013
Allowance:
Beginning of year balance	$	110	$	40	$	27	$	177
Provision (credit)		(2)		5		7		10
Write-offs		(11)		(21)		(3)		(35)
Recoveries		9		17		1		27
Translation adjustments		(5)				(1)		(6)
End of year balance*	$	101	$	41	$	31	$	173

Financing receivables:
End of year balance	$	21,160	$	2,593	$	6,206	$	29,959

Balance individually evaluated	$	21			$	33	$	54

*Individual allowances were not significant.

Analysis of the Impaired Financing Receivables

An analysis of the impaired financing receivables at October 31 follows in millions of dollars:


			Unpaid				Average
	Recorded		Principal		Specific		Recorded
	Investment		Balance		Allowance		Investment

2015*
Receivables with specific allowance**	$	14	$	13	$	2	$	13
Receivables without a specific allowance***		14		14				20
Total	$	28	$	27	$	2	$	33
Agriculture and turf	$	19	$	18	$	2	$	20
Construction and forestry	$	9	$	9			$	13


2014*
Receivables with specific allowance**	$	9	$	9	$	2	$	10
Receivables without a specific allowance**		6		6				7
Total	$	15	$	15	$	2	$	17
Agriculture and turf	$	12	$	12	$	2	$	13
Construction and forestry	$	3	$	3			$	4

*Finance income recognized was not material.

**Primarily retail notes.

***Primarily retail notes and wholesale receivables.

Schedule of Other Receivables

Other receivables at October 31 consisted of the following in millions of dollars:


	2015		2014

Taxes receivable	$	720	$	697
Reinsurance receivables				502
Insurance premium receivables				23
Other		271		278
Other receivables	$	991	$	1,500

Trade Accounts and Notes Receivable

Accounts, Notes, Loans and Financing Receivable

Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment

Trade accounts and notes receivable at October 31 consisted of the following in millions of dollars:


	2015		2014

Trade accounts and notes:
Agriculture and turf	$	2,278	$	2,633
Construction and forestry		773		645
Trade accounts and notes receivable–net	$	3,051	$	3,278

Financing Receivables

Accounts, Notes, Loans and Financing Receivable

Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment

Financing receivables at October 31 consisted of the following in millions of dollars:


	2015				2014
	Unrestricted/Securitized				Unrestricted/Securitized

Retail notes:
Equipment:
Agriculture and turf	$	15,359	$	4,236	$	16,970	$	3,975
Construction and forestry		2,086		686		1,951		697
Total		17,445		4,922		18,921		4,672
Wholesale notes		4,269				5,390
Revolving charge accounts		2,740				2,603
Financing leases (direct and sales-type)		1,333				1,558
Total financing receivables		25,787		4,922		28,472		4,672
Less:
Unearned finance income:
Equipment notes		726		74		753		56
Financing leases		108				136
Total		834		74		889		56
Allowance for credit losses		144		13		161		14
Financing receivables – net	$	24,809	$	4,835	$	27,422	$	4,602

Financing Receivables | Related to Sales of Equipment

Accounts, Notes, Loans and Financing Receivable

Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment

Financing receivables at October 31 related to the company’s sales of equipment that were included in the table above consisted of the following in millions of dollars:


	2015		2014
	Unrestricted		Unrestricted

Retail notes*:
Equipment:
Agriculture and turf	$	1,792	$	2,125
Construction and forestry		356		403
Total		2,148		2,528
Wholesale notes		4,269		5,390
Sales-type leases		690		844
Total		7,107		8,762
Less:
Unearned finance income:
Equipment notes		178		212
Sales-type leases		45		57
Total		223		269
Financing receivables related to the company’s sales of equipment	$	6,884	$	8,493

*These retail notes generally arise from sales of equipment by company-owned dealers or through direct sales.