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LONG-TERM BORROWINGS | 12 Months Ended
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Nov. 03, 2019
LONG-TERM BORROWINGS |
LONG-TERM BORROWINGS | 21. LONG-TERM BORROWINGS Long-term borrowings at November 3, 2019 and October 28, 2018 consisted of the following in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |
Equipment Operations | ​ | ​ |  | ​ | ​ |  | ​
U.S. dollar notes and debentures: | ​ | ​ | ​ | ​ | ​ | ​ | ​
8-1/2% debentures due 2022 | ​ | $ | 105 | ​ | $ | 105 | ​
2.60% notes due 2022 | ​ |  | 1,000 | ​ |  | 1,000 | ​
6.55% debentures due 2028 | ​ |  | 200 | ​ |  | 200 | ​
5.375% notes due 2029 | ​ |  | 500 | ​ |  | 500 | ​
8.10% debentures due 2030 | ​ |  | 250 | ​ |  | 250 | ​
7.125% notes due 2031 | ​ |  | 300 | ​ |  | 300 | ​
3.90% notes due 2042 | ​ |  | 1,250 | ​ |  | 1,250 | ​
2.875% notes due 2049 | ​ | ​ | 500 | ​ | ​ | ​ | ​
Euro notes: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Medium-term note due 2020: (€350 principal) Average interest rate of .0% - 2018 | ​ | ​ | ​ | ​ | ​ | 398 | ​
.5% notes due 2023 (€500 principal) | ​ | ​ | 558 | ​ | ​ | 569 | ​
1.65% notes due 2039 (€650 principal) | ​ | ​ | 725 | ​ | ​ | ​ | ​
Other notes | ​ |  | 51 | ​ |  | 159 | ​
Less debt issuance costs | ​ | ​ | 24 | ​ | ​ | 17 | ​
Total |  | ​ | 5,415 |  | ​ | 4,714 | ​
Financial Services |  | ​ | ​ |  | ​ | ​ | ​
Notes and debentures: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Medium-term notes due 2020 - 2029: (principal $23,265 - 2019, $21,721 - 2018) Average interest rates of 2.7% - 2019, 2.8% - 2018 |  | ​ | 23,528 | * | ​ | 21,354 | *
Other notes | ​ |  | 1,335 | ​ |  | 1,215 | ​
Less debt issuance costs | ​ | ​ | 49 | ​ | ​ | 46 | ​
Total | ​ |  | 24,814 | ​ |  | 22,523 | ​
Long-term borrowings** |  | $ | 30,229 | ​ | $ | 27,237 | ​
* Includes unamortized fair value adjustments related to interest rate swaps. ** All interest rates are as of year end. ​ The approximate principal amounts of the equipment operations’ long-term borrowings maturing in each of the next five years in millions of dollars are as follows: 2020 - $643, 2021 - $39, 2022 - $1,121, 2023 - $562, and 2024 - $1. The approximate principal amounts of the financial services’ long-term borrowings maturing in each of the next five years in millions of dollars are as follows: 2020 - $6,795, 2021 - $6,885, 2022 - $6,323, 2023 - $3,791, and 2024 - $3,013.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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