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FINANCING RECEIVABLES (Tables)

6 Months Ended

Apr. 29, 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:

		April 29, 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		$	117		$	58		$	44		$	219
Construction and forestry			97			44			36			177
Other:
Agriculture and turf			32			16			28			76
Construction and forestry			11			4			2			17
Total		$	257		$	122		$	110		$	489
											Total
		Total			Total						Financing
		Past Due			Non-Performing			Current			Receivables
Retail Notes:
Agriculture and turf		$	219		$	171		$	17,014		$	17,404
Construction and forestry			177			42			2,899			3,118
Other:
Agriculture and turf			76			16			7,072			7,164
Construction and forestry			17			4			1,192			1,213
Total		$	489		$	233		$	28,177			28,899
Less allowance for credit losses												187
Total financing receivables – net											$	28,712

		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

		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

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 29, 2018
					Revolving
		Retail			Charge
		Notes			Accounts			Other			Total
Allowance:
Beginning of period balance		$	123		$	40		$	27		$	190
Provision			5			9			2			16
Write-offs			(7)			(15)			(1)			(23)
Recoveries			4			6						10
Translation adjustments			(5)						(1)			(6)
End of period balance *		$	120		$	40		$	27		$	187
		Six Months Ended April 29, 2018
Allowance:
Beginning of period balance		$	121		$	40		$	26		$	187
Provision			5			9			4			18
Write-offs			(14)			(20)			(3)			(37)
Recoveries			10			11						21
Translation adjustments			(2)									(2)
End of period balance *		$	120		$	40		$	27		$	187
Financing receivables:
End of period balance		$	20,522		$	3,205		$	5,172		$	28,899
Balance individually evaluated **		$	120		$	1		$	15		$	136

		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

* 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 29, 2018*
Receivables with specific allowance **		$	33		$	31		$	10		$	34
Receivables without a specific allowance **			41			40						43
Total		$	74		$	71		$	10		$	77
Agriculture and turf		$	52		$	51		$	9		$	54
Construction and forestry		$	22		$	20		$	1		$	23
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
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

* 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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