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OTHER INCOME AND OTHER OPERATING EXPENSES | 12 Months Ended
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Oct. 31, 2016
OTHER INCOME AND OTHER OPERATING EXPENSES |
OTHER INCOME AND OTHER OPERATING EXPENSES | 9. OTHER INCOME AND OTHER OPERATING EXPENSES The major components of other income and other operating expenses consisted of the following in millions of dollars:
|  | 2016 |  | 2015 |  | 2014 |
Other income |  |  |  |  |  |  |  |  |  |
Revenues from services |  | $ | 270 |  | $ | 280 |  | $ | 276 |
Insurance premiums and fees earned |  |  | 195 |  |  | 173 |  |  | 297 |
Investment income |  |  | 16 |  |  | 26 |  |  | 17 |
Other |  |  | 265 |  |  | 228 |  |  | 234 |
Total |  | $ | 746 |  | $ | 707 |  | $ | 824 |
Other operating expenses |  |  |  |  |  |  |  |  |  |
Depreciation of equipment on operating leases |  | $ | 742 |  | $ | 577 |  | $ | 494 |
Insurance claims and expenses |  |  | 188 |  |  | 183 |  |  | 324 |
Cost of services |  |  | 162 |  |  | 160 |  |  | 151 |
Other |  |  | 163 |  |  | 41 |  |  | 124 |
Total |  | $ | 1,255 |  | $ | 961 |  | $ | 1,093 |
The company offers extended equipment warranties and, prior to the divestiture of the crop insurance subsidiaries (see Note 4), issued crop insurance policies. To limit losses and reduce exposure to crop insurance claims, the company utilized reinsurance. Although reinsurance contracts permitted recovery of certain claims from reinsurers, the insurance subsidiary was not relieved of its primary obligation to the policyholders. The premiums ceded by the crop insurance subsidiary in 2015 and 2014 were $54 million and $288 million, and claims recoveries on the ceded business were $65 million and $304 million, respectively. The amounts from reinsurance were netted against the insurance premiums and fees earned and the insurance claims and expenses in the table above.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3,6,7,9) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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