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FINANCING RECEIVABLES (Tables) | 6 Months Ended
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Apr. 30, 2015
Financing Receivables |
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:
|  | April 30, 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 |  | $ | 108 |  | $ | 55 |  | $ | 49 |  | $ | 212 |
Construction and forestry |  | 57 |  | 24 |  | 12 |  | 93 |
Other: |  |  |  |  |  |  |  |  |
Agriculture and turf |  | 32 |  | 13 |  | 20 |  | 65 |
Construction and forestry |  | 14 |  | 6 |  | 2 |  | 22 |
Total |  | $ | 211 |  | $ | 98 |  | $ | 83 |  | $ | 392 |
|  | Total Past Due |  | Total Non- Performing |  | Current |  | Total Financing Receivables |
Retail Notes: |  |  |  |  |  |  |  |  |
Agriculture and turf |  | $ | 212 |  | $ | 96 |  | $ | 18,543 |  | $ | 18,851 |
Construction and forestry |  | 93 |  | 18 |  | 2,511 |  | 2,622 |
Other: |  |  |  |  |  |  |  |  |
Agriculture and turf |  | 65 |  | 16 |  | 7,051 |  | 7,132 |
Construction and forestry |  | 22 |  | 7 |  | 1,016 |  | 1,045 |
Total |  | $ | 392 |  | $ | 137 |  | $ | 29,121 |  | 29,650 |
Less allowance for credit losses |  |  |  |  |  |  |  | 163 |
Total financing receivables - net |  |  |  |  |  |  |  | $ | 29,487 |
|  | 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 |
|  | April 30, 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 |  | $ | 89 |  | $ | 31 |  | $ | 28 |  | $ | 148 |
Construction and forestry |  | 57 |  | 19 |  | 12 |  | 88 |
Other: |  |  |  |  |  |  |  |  |
Agriculture and turf |  | 24 |  | 13 |  | 17 |  | 54 |
Construction and forestry |  | 15 |  | 5 |  | 3 |  | 23 |
Total |  | $ | 185 |  | $ | 68 |  | $ | 60 |  | $ | 313 |
|  | Total Past Due |  | Total Non- Performing |  | Current |  | Total Financing Receivables |
Retail Notes: |  |  |  |  |  |  |  |  |
Agriculture and turf |  | $ | 148 |  | $ | 102 |  | $ | 19,027 |  | $ | 19,277 |
Construction and forestry |  | 88 |  | 14 |  | 2,113 |  | 2,215 |
Other: |  |  |  |  |  |  |  |  |
Agriculture and turf |  | 54 |  | 17 |  | 7,335 |  | 7,406 |
Construction and forestry |  | 23 |  | 4 |  | 1,088 |  | 1,115 |
Total |  | $ | 313 |  | $ | 137 |  | $ | 29,563 |  | 30,013 |
Less allowance for credit losses |  |  |  |  |  |  |  | 171 |
Total financing receivables - net |  |  |  |  |  |  |  | $ | 29,842 |
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 April 30, 2015 |
|  | Retail Notes |  | Revolving Charge Accounts |  | Other |  | Total |
Allowance: |  |  |  |  |  |  |  |  |
Beginning of period balance |  | $ | 104 |  | $ | 41 |  | $ | 23 |  | $ | 168 |
Provision |  | 5 |  | 8 |  | 1 |  | 14 |
Write-offs |  | (6) |  | (11) |  | (2) |  | (19) |
Recoveries |  | 2 |  | 3 |  | 1 |  | 6 |
Translation adjustments |  | (6) |  |  |  |  |  | (6) |
End of period balance * |  | $ | 99 |  | $ | 41 |  | $ | 23 |  | $ | 163 |
|  | Six Months Ended April 30, 2015 |
Allowance: |  |  |  |  |  |  |  |  |
Beginning of period balance |  | $ | 109 |  | $ | 41 |  | $ | 25 |  | $ | 175 |
Provision |  | 5 |  | 8 |  | 2 |  | 15 |
Write-offs |  | (9) |  | (15) |  | (2) |  | (26) |
Recoveries |  | 4 |  | 7 |  |  |  | 11 |
Translation adjustments |  | (10) |  |  |  | (2) |  | (12) |
End of period balance * |  | $ | 99 |  | $ | 41 |  | $ | 23 |  | $ | 163 |
Financing receivables: |  |  |  |  |  |  |  |  |
End of period balance |  | $ | 21,473 |  | $ | 2,345 |  | $ | 5,832 |  | $ | 29,650 |
Balance individually evaluated ** |  | $ | 19 |  |  |  |  |  | $ | 19 |
|  | Three Months Ended April 30, 2014 |
|  | Retail Notes |  | Revolving Charge Accounts |  | Other |  | Total |
Allowance: |  |  |  |  |  |  |  |  |
Beginning of period balance |  | $ | 97 |  | $ | 40 |  | $ | 30 |  | $ | 167 |
Provision (credit) |  | 7 |  | 2 |  | (4) |  | 5 |
Write-offs |  | (5) |  | (6) |  |  |  | (11) |
Recoveries |  | 2 |  | 4 |  |  |  | 6 |
Translation adjustments |  | 4 |  |  |  |  |  | 4 |
End of period balance * |  | $ | 105 |  | $ | 40 |  | $ | 26 |  | $ | 171 |
|  | Six Months Ended April 30, 2014 |
Allowance: |  |  |  |  |  |  |  |  |
Beginning of period balance |  | $ | 101 |  | $ | 41 |  | $ | 31 |  | $ | 173 |
Provision (credit) |  | 8 |  | 3 |  | (4) |  | 7 |
Write-offs |  | (8) |  | (11) |  |  |  | (19) |
Recoveries |  | 4 |  | 7 |  |  |  | 11 |
Translation adjustments |  |  |  |  |  | (1) |  | (1) |
End of period balance * |  | $ | 105 |  | $ | 40 |  | $ | 26 |  | $ | 171 |
Financing receivables: |  |  |  |  |  |  |  |  |
End of period balance |  | $ | 21,492 |  | $ | 2,215 |  | $ | 6,306 |  | $ | 30,013 |
Balance individually evaluated ** |  | $ | 21 |  | $ | 3 |  | $ | 11 |  | $ | 35 |
* 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 |
April 30, 2015 * |  |  |  |  |  |  |  |  |
Receivables with specific allowance ** |  | $ | 3 |  | $ | 3 |  | $ | 2 |  | $ | 6 |
Receivables without a specific allowance ** |  | 12 |  | 11 |  |  |  | 12 |
Total |  | $ | 15 |  | $ | 14 |  | $ | 2 |  | $ | 18 |
Agriculture and turf |  | $ | 9 |  | $ | 8 |  | $ | 2 |  | $ | 12 |
Construction and forestry |  | $ | 6 |  | $ | 6 |  |  |  | $ | 6 |
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 |
April 30, 2014* |  |  |  |  |  |  |  |  |
Receivables with specific allowance *** |  | $ | 10 |  | $ | 10 |  | $ | 2 |  | $ | 11 |
Receivables without a specific allowance ** |  | 6 |  | 6 |  |  |  | 7 |
Total |  | $ | 16 |  | $ | 16 |  | $ | 2 |  | $ | 18 |
Agriculture and turf |  | $ | 14 |  | $ | 14 |  | $ | 2 |  | $ | 16 |
Construction and forestry |  | $ | 2 |  | $ | 2 |  |  |  | $ | 2 |
* | Finance income recognized was not material.
** | Primarily retail notes.
*** | Primarily operating loans.

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- Definition Tabular disclosure of the activity in the total allowance for credit losses related to financing receivables (such as loans or lease receivables) for entities that have an unclassified balance sheet, including the balance in the allowance at the beginning and end of each period, additions charged to operations, direct write-downs charged against the allowance, and recoveries of amounts previously charged off. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953423-111524 + Details
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