FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 31, 2015

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 in millions of dollars follows:

	January 31, 2015
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due
Retail Notes:
Agriculture and turf	$	122	$	41	$	40	$	203
Construction and forestry	59		25		11		95
Other:
Agriculture and turf	32		10		3		45
Construction and forestry	16		6		3		25
Total	$	229	$	82	$	57	$	368

	Total Past Due		Total Non- Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	203	$	102	$	19,027	$	19,332
Construction and forestry	95		12		2,529		2,636
Other:
Agriculture and turf	45		17		6,791		6,853
Construction and forestry	25		5		1,016		1,046
Total	$	368	$	136	$	29,363	29,867
Less allowance for credit losses							168
Total financing receivables - net							$	29,699

	October 31, 2014
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due
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 Past Due		Total Non- Performing		Current		Total Financing 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

	January 31, 2014
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due

Retail Notes:
Agriculture and turf	$	103	$	39	$	26	$	168
Construction and forestry	51		19		10		80
Other:
Agriculture and turf	28		10		4		42
Construction and forestry	12		4		3		19
Total	$	194	$	72	$	43	$	309

	Total Past Due		Total Non-Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	168	$	106	$	18,802	$	19,076
Construction and forestry	80		14		2,017		2,111
Other:
Agriculture and turf	42		13		6,614		6,669
Construction and forestry	19		3		1,022		1,044
Total	$	309	$	136	$	28,455	28,900
Less allowance for credit losses							167
Total financing receivables - net							$	28,733

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 in millions of dollars during the periods follows:

	Three Months Ended
	January 31, 2015
	Retail Notes		Revolving Charge Accounts		Other		Total
Allowance:
Beginning of period balance	$	109	$	41	$	25	$	175
Provision	1						1
Write-offs	(3)		(4)				(7)
Recoveries	2		4				6
Translation adjustments	(5)				(2)		(7)
End of period balance *	$	104	$	41	$	23	$	168

Financing receivables:
End of period balance	$	21,968	$	1,882	$	6,017	$	29,867
Balance individually evaluated **	$	23	$	1	$	1	$	25

	Three Months Ended
	January 31, 2014
Allowance:
Beginning of period balance	$	101	$	41	$	31	$	173
Provision	1		1				2
Write-offs	(3)		(5)				(8)
Recoveries	2		3				5
Translation adjustments	(4)				(1)		(5)
End of period balance *	$	97	$	40	$	30	$	167

Financing receivables:
End of period balance	$	21,187	$	1,801	$	5,912	$	28,900
Balance individually evaluated **	$	14			$	26	$	40

* Individual allowances were not significant.

** Remainder is collectively evaluated.

Analysis of the Impaired Financing Receivables

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

	Recorded Investment		Unpaid Principal Balance		Specific Allowance		Average Recorded Investment
January 31, 2015 *
Receivables with specific allowance **	$	6	$	6	$	2	$	7
Receivables without a specific allowance **	6		5				6
Total	$	12	$	11	$	2	$	13
Agriculture and turf	$	10	$	10	$	2	$	11
Construction and forestry	$	2	$	1			$	2

October 31, 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

January 31, 2014 *
Receivables with specific allowance ***	$	18	$	18	$	4	$	18
Receivables without a specific allowance **	7		6				7
Total	$	25	$	24	$	4	$	25
Agriculture and turf	$	22	$	22	$	4	$	23
Construction and forestry	$	3	$	2			$	2

*	Finance income recognized was not material.
**	Primarily retail notes.
***	Primarily operating loans.