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FINANCING RECEIVABLES (Tables)

6 Months Ended

Apr. 30, 2017

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, 2017
								90 Days
		30-59 Days			60-89 Days			or Greater			Total
		Past Due			Past Due			Past Due			Past Due
Retail Notes:
Agriculture and turf		$	120		$	75		$	65		$	260
Construction and forestry			80			44			33			157
Other:
Agriculture and turf			37			12			27			76
Construction and forestry			12			4			2			18
Total		$	249		$	135		$	127		$	511
											Total
		Total			Total						Financing
		Past Due			Non-Performing			Current			Receivables
Retail Notes:
Agriculture and turf		$	260		$	159		$	16,838		$	17,257
Construction and forestry			157			31			2,563			2,751
Other:
Agriculture and turf			76			10			6,692			6,778
Construction and forestry			18			4			952			974
Total		$	511		$	204		$	27,045			27,760
Less allowance for credit losses												177
Total financing receivables – net											$	27,583

		October 30, 2016
								90 Days
		30-59 Days			60-89 Days			or Greater			Total
		Past Due			Past Due			Past Due			Past Due
Retail Notes:
Agriculture and turf		$	115		$	57		$	65		$	237
Construction and forestry			78			32			25			135
Other:
Agriculture and turf			26			11			6			43
Construction and forestry			10			5			4			19
Total		$	229		$	105		$	100		$	434
											Total
		Total			Total						Financing
		Past Due			Non-Performing			Current			Receivables
Retail Notes:
Agriculture and turf		$	237		$	191		$	17,526		$	17,954
Construction and forestry			135			35			2,558			2,728
Other:
Agriculture and turf			43			9			7,286			7,338
Construction and forestry			19			9			957			985
Total		$	434		$	244		$	28,327			29,005
Less allowance for credit losses												176
Total financing receivables – net											$	28,829

		May 1, 2016
								90 Days
		30-59 Days			60-89 Days			or Greater			Total
		Past Due			Past Due			Past Due			Past Due
Retail Notes:
Agriculture and turf		$	137		$	70		$	71		$	278
Construction and forestry			79			29			28			136
Other:
Agriculture and turf			28			12			33			73
Construction and forestry			10			6			2			18
Total		$	254		$	117		$	134		$	505
											Total
		Total			Total						Financing
		Past Due			Non-Performing			Current			Receivables
Retail Notes:
Agriculture and turf		$	278		$	129		$	17,436		$	17,843
Construction and forestry			136			32			2,556			2,724
Other:
Agriculture and turf			73			12			6,671			6,756
Construction and forestry			18			23			951			992
Total		$	505		$	196		$	27,614			28,315
Less allowance for credit losses												165
Total financing receivables – net											$	28,150

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, 2017
					Revolving
		Retail			Charge
		Notes			Accounts			Other			Total
Allowance:
Beginning of period balance		$	111		$	41		$	23		$	175
Provision			10			15			1			26
Write-offs			(15)			(18)			(1)			(34)
Recoveries			5			5						10
End of period balance *		$	111		$	43		$	23		$	177
		Six Months Ended April 30, 2017
Allowance:
Beginning of period balance		$	113		$	40		$	23		$	176
Provision			18			13			2			33
Write-offs			(27)			(20)			(3)			(50)
Recoveries			7			10			1			18
End of period balance *		$	111		$	43		$	23		$	177
Financing receivables:
End of period balance		$	20,008		$	3,036		$	4,716		$	27,760
Balance individually evaluated **		$	148		$	4		$	17		$	169

		Three Months Ended May 1, 2016
					Revolving
		Retail			Charge
		Notes			Accounts			Other			Total
Allowance:
Beginning of period balance		$	93		$	40		$	22		$	155
Provision			12			11			1			24
Write-offs			(12)			(15)			(1)			(28)
Recoveries			3			4						7
Translation adjustments			6						1			7
End of period balance *		$	102		$	40		$	23		$	165
		Six Months Ended May 1, 2016
Allowance:
Beginning of period balance		$	95		$	40		$	22		$	157
Provision			17			13			2			32
Write-offs			(19)			(22)			(1)			(42)
Recoveries			5			9						14
Translation adjustments			4									4
End of period balance *		$	102		$	40		$	23		$	165
Financing receivables:
End of period balance		$	20,567		$	2,636		$	5,112		$	28,315
Balance individually evaluated **		$	73		$	2		$	26		$	101

* 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:

					Unpaid						Average
		Recorded			Principal			Specific			Recorded
		Investment			Balance			Allowance			Investment
April 30, 2017*
Receivables with specific allowance **		$	23		$	22		$	9		$	26
Receivables without a specific allowance ***			27			24						28
Total		$	50		$	46		$	9		$	54
Agriculture and turf		$	28		$	26		$	8		$	32
Construction and forestry		$	22		$	20		$	1		$	22
October 30, 2016*
Receivables with specific allowance **		$	31		$	28		$	9		$	29
Receivables without a specific allowance ***			29			27						26
Total		$	60		$	55		$	9		$	55
Agriculture and turf		$	33		$	30		$	8		$	27
Construction and forestry		$	27		$	25		$	1		$	28
May 1, 2016*
Receivables with specific allowance **		$	27		$	26		$	5		$	23
Receivables without a specific allowance ***			36			35						31
Total		$	63		$	61		$	5		$	54
Agriculture and turf		$	32		$	31		$	5		$	28
Construction and forestry		$	31		$	30					$	26

* Finance income recognized was not material.

**  Primarily retail notes.

***   Primarily retail notes and wholesale receivables.

X

- Definition

Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5212-111524

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- Definition

Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5111-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7A
-URI http://asc.fasb.org/extlink&oid=66008989&loc=SL6953401-111524

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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=66008989&loc=SL6953423-111524

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