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FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 28, 2018

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:

		January 28, 2018
								90 Days
		30-59 Days			60-89 Days			or Greater			Total
		Past Due			Past Due			Past Due			Past Due
Retail Notes:
Agriculture and turf		$	149		$	49		$	59		$	257
Construction and forestry			78			38			39			155
Other:
Agriculture and turf			51			20			6			77
Construction and forestry			9			5			2			16
Total		$	287		$	112		$	106		$	505
											Total
		Total			Total						Financing
		Past Due			Non-Performing			Current			Receivables
Retail Notes:
Agriculture and turf		$	257		$	185		$	17,287		$	17,729
Construction and forestry			155			36			2,869			3,060
Other:
Agriculture and turf			77			13			6,481			6,571
Construction and forestry			16			4			1,139			1,159
Total		$	505		$	238		$	27,776			28,519
Less allowance for credit losses												190
Total financing receivables – net											$	28,329

		October 29, 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		$	118		$	54		$	49		$	221
Construction and forestry			75			33			39			147
Other:
Agriculture and turf			27			14			7			48
Construction and forestry			11			6			2			19
Total		$	231		$	107		$	97		$	435
											Total
		Total			Total						Financing
		Past Due			Non-Performing			Current			Receivables
Retail Notes:
Agriculture and turf		$	221		$	173		$	17,508		$	17,902
Construction and forestry			147			30			2,618			2,795
Other:
Agriculture and turf			48			12			7,610			7,670
Construction and forestry			19			5			1,059			1,083
Total		$	435		$	220		$	28,795			29,450
Less allowance for credit losses												187
Total financing receivables – net											$	29,263

		January 29, 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		$	135		$	71		$	80		$	286
Construction and forestry			70			41			28			139
Other:
Agriculture and turf			44			19			5			68
Construction and forestry			9			4			4			17
Total		$	258		$	135		$	117		$	510
											Total
		Total			Total						Financing
		Past Due			Non-Performing			Current			Receivables
Retail Notes:
Agriculture and turf		$	286		$	175		$	16,878		$	17,339
Construction and forestry			139			36			2,546			2,721
Other:
Agriculture and turf			68			12			6,374			6,454
Construction and forestry			17			6			919			942
Total		$	510		$	229		$	26,717			27,456
Less allowance for credit losses												175
Total financing receivables – net											$	27,281

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 28, 2018
					Revolving
		Retail			Charge
		Notes			Accounts			Other			Total
Allowance:
Beginning of period balance		$	121		$	40		$	26		$	187
Provision									2			2
Write-offs			(7)			(5)			(1)			(13)
Recoveries			6			5						11
Translation adjustments			3									3
End of period balance *		$	123		$	40		$	27		$	190
Financing receivables:
End of period balance		$	20,789		$	2,652		$	5,078		$	28,519
Balance individually evaluated **		$	101		$	2		$	16		$	119

		Three Months Ended January 29, 2017
					Revolving
		Retail			Charge
		Notes			Accounts			Other			Total
Allowance:
Beginning of period balance		$	113		$	40		$	23		$	176
Provision (credit)			8			(2)			1			7
Write-offs			(12)			(3)			(1)			(16)
Recoveries			2			6						8
End of period balance *		$	111		$	41		$	23		$	175
Financing receivables:
End of period balance		$	20,060		$	2,460		$	4,936		$	27,456
Balance individually evaluated **		$	109		$	5		$	18		$	132

* 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
January 28, 2018*
Receivables with specific allowance ***		$	30		$	28		$	9		$	32
Receivables without a specific allowance ***			34			33						31
Total		$	64		$	61		$	9		$	63
Agriculture and turf		$	47		$	45		$	9		$	47
Construction and forestry		$	17		$	16					$	16
October 29, 2017*
Receivables with specific allowance **		$	36		$	33		$	10		$	30
Receivables without a specific allowance ***			28			27						24
Total		$	64		$	60		$	10		$	54
Agriculture and turf		$	49		$	46		$	10		$	38
Construction and forestry		$	15		$	14					$	16
January 29, 2017*
Receivables with specific allowance **		$	24		$	22		$	7		$	26
Receivables without a specific allowance ***			27			26						27
Total		$	51		$	48		$	7		$	53
Agriculture and turf		$	28		$	27		$	6		$	30
Construction and forestry		$	23		$	21		$	1		$	23

* 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=84173941&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=84173941&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=84173941&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=84173941&loc=SL6953423-111524

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