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ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 12 Months Ended
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Oct. 31, 2021
ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 19. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses at October 31, 2021 and November 1, 2020 consisted of the following in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |
Equipment Operations | ​ | ​ |  | ​ | ​ |  | ​
Accounts payable: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade payables |  | $ | 2,967 |  | $ | 1,926 |
Dividends payable | ​ |  | 329 | ​ |  | 244 | ​
Operating lease liabilities | ​ | ​ | 279 | ​ | ​ | 297 | ​
Other | ​ |  | 155 | ​ |  | 251 | ​
Accrued expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dealer sales discounts | ​ |  | 1,636 | ​ |  | 1,682 | ​
Product warranties | ​ |  | 1,312 | ​ |  | 1,105 | ​
Employee benefits | ​ |  | 1,448 | ​ |  | 1,086 | ​
Accrued taxes | ​ | ​ | 933 | ​ | ​ | 730 | ​
Unearned revenue | ​ |  | 825 | ​ |  | 679 | ​
Other | ​ |  | 1,171 | ​ |  | 1,114 | ​
Total | ​ | ​ | 11,055 | ​ | ​ | 9,114 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Services | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accounts payable: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits withheld from dealers and merchants | ​ | ​ | 157 | ​ | ​ | 141 | ​
Collateral on derivatives | ​ | ​ | ​ | ​ | ​ | 274 | ​
Other | ​ |  | 210 | ​ |  | 194 | ​
Accrued expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unearned revenue | ​ |  | 1,013 | ​ |  | 968 | ​
Accrued interest | ​ |  | 165 | ​ |  | 181 | ​
Employee benefits | ​ |  | 83 | ​ |  | 60 | ​
Other | ​ |  | 387 | ​ |  | 309 | ​
Total | ​ |  | 2,015 | ​ |  | 2,127 | ​
Eliminations* | ​ |  | 865 | ​ |  | 1,129 | ​
Accounts payable and accrued expenses |  | $ | 12,205 |  | $ | 10,112 | ​
* Pri marily sales incentive accruals with a right of set-off against trade receivables. At October 31, 2021 and November 1, 2020, $836 million and $1,073 million, respectively, of sales incentive accruals were classified as accrued expenses by the equipment operations as the related trade receivables had been sold to financial services. ​

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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