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FINANCING RECEIVABLES (Tables) | 3 Months Ended
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Jan. 31, 2021
Financing Receivables |
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 31, 2021 | ​
​ | ​ | Retail Notes | ​ | Revolving | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | & Financing | ​ | Charge | ​ | Wholesale | ​ | ​ | ​ | ​
​ | ​ | Leases | ​ | Accounts | ​ | Receivables | ​ | Total | ​
Allowance: |  |  |  |  |  |  |  |  |  |  | ​ | ​ |
Beginning of period balance |  | $ | 133 |  | $ | 43 | ​ | $ | 8 | ​ | $ | 184 | ​
ASU No. 2016-13 adoption | ​ | ​ | 44 | ​ | ​ | (13) | ​ | ​ | ​ | ​ | ​ | 31 | ​
Provision (credit) | ​ | ​ | 5 | ​ | ​ | (10) | ​ | ​ | (1) | ​ | ​ | (6) | ​
Write-offs | ​ | ​ | (8) | ​ | ​ | (5) | ​ | ​ | ​ | ​ | ​ | (13) | ​
Recoveries | ​ | ​ | 5 | ​ | ​ | 9 | ​ | ​ | ​ | ​ | ​ | 14 | ​
Translation adjustments | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
End of period balance |  | $ | 180 |  | $ | 24 | ​ | $ | 7 | ​ | $ | 211 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financing receivables: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
End of period balance |  | $ | 27,810 |  | $ | 2,685 | ​ | $ | 3,085 | ​ | $ | 33,580 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended February 2, 2020 |
​ | ​ | Retail Notes | ​ | Revolving | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | & Financing | ​ | Charge | ​ | Wholesale | ​ | ​ | ​ |
​ | ​ | Leases | ​ | Accounts | ​ | Receivables | ​ | Total | ​
Allowance: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Beginning of period balance | ​ | $ | 107 |  | $ | 40 | ​ | $ | 3 | ​ | $ | 150 | ​
Provision (credit) | ​ |  | 16 | ​ | ​ | (1) | ​ | ​ | 6 | ​ |  | 21 | ​
Write-offs | ​ |  | (18) | ​ | ​ | (7) | ​ | ​ | ​ | ​ |  | (25) | ​
Recoveries | ​ |  | 2 | ​ | ​ | 8 | ​ | ​ | ​ | ​ |  | 10 | ​
Translation adjustments | ​ |  | (1) | ​ | ​ | ​ | ​ | ​ | 2 | ​ |  | 1 | ​
End of period balance | ​ | $ | 106 | ​ | $ | 40 | ​ | $ | 11 | ​ | $ | 157 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financing receivables: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
End of period balance | ​ | $ | 24,697 |  | $ | 2,733 | ​ | $ | 4,499 | ​ | $ | 31,929 | ​
Customer Receivables |
Financing Receivables |
Credit Quality Analysis | The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, customer receivables), in millions of dollars at January 31, 2021 was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year of Origination | ​
​ | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​ | 2018 | ​ | 2017 | ​ | Prior | ​ | Revolving Charge Accounts | ​ | Total | ​
Customer receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 2,531 | ​ | $ | 9,427 | ​ | $ | 5,129 | ​ | $ | 2,817 | ​ | $ | 1,400 | ​ | $ | 686 | ​ | $ | 2,564 | ​ | $ | 24,554 | ​
30-59 days past due | ​ | ​ | 4 | ​ | ​ | 65 | ​ | ​ | 49 | ​ | ​ | 30 | ​ | ​ | 13 | ​ | ​ | 7 | ​ | ​ | 27 | ​ | ​ | 195 | ​
60-89 days past due | ​ | ​ | ​ | ​ | ​ | 20 | ​ | ​ | 17 | ​ | ​ | 11 | ​ | ​ | 5 | ​ | ​ | 3 | ​ | ​ | 5 | ​ | ​ | 61 | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | 40 | ​ | ​ | 78 | ​ | ​ | 57 | ​ | ​ | 36 | ​ | ​ | 46 | ​ | ​ | 7 | ​ | ​ | 264 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 737 | ​ | ​ | 2,251 | ​ | ​ | 1,276 | ​ | ​ | 573 | ​ | ​ | 164 | ​ | ​ | 39 | ​ | ​ | 77 | ​ | ​ | 5,117 | ​
30-59 days past due | ​ | ​ | 5 | ​ | ​ | 53 | ​ | ​ | 32 | ​ | ​ | 17 | ​ | ​ | 6 | ​ | ​ | 1 | ​ | ​ | 3 | ​ | ​ | 117 | ​
60-89 days past due | ​ | ​ | 1 | ​ | ​ | 15 | ​ | ​ | 16 | ​ | ​ | 7 | ​ | ​ | 3 | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | 44 | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | 9 | ​ | ​ | 13 | ​ | ​ | 5 | ​ | ​ | 4 | ​ | ​ | 2 | ​ | ​ | ​ | ​ | ​ | 33 | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | 26 | ​ | ​ | 34 | ​ | ​ | 26 | ​ | ​ | 14 | ​ | ​ | 8 | ​ | ​ | 1 | ​ | ​ | 109 | ​
Total customer receivables | ​ | $ | 3,278 | ​ | $ | 11,906 | ​ | $ | 6,645 | ​ | $ | 3,543 | ​ | $ | 1,645 | ​ | $ | 793 | ​ | $ | 2,685 | ​ | $ | 30,495 | ​
Age Credit Quality Analysis | ​ The credit quality analysis of customer receivables in millions of dollars at November 1, 2020 and February 2, 2020 was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | November 1, 2020 | ​ | February 2, 2020 | ​
Customer receivables: | ​ | Retail Notes & Financing Leases | ​ | Revolving Charge Accounts | ​ | Total | ​ | Retail Notes & Financing Leases | ​ | Revolving Charge Accounts | ​ | Total | ​
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 21,597 | ​ | $ | 3,787 | ​ | $ | 25,384 | ​ | $ | 19,455 | ​ | $ | 2,578 | ​ | $ | 22,033 | ​
30-59 days past due | ​ | ​ | 135 | ​ | ​ | 13 | ​ | ​ | 148 | ​ | ​ | 162 | ​ | ​ | 53 | ​ | ​ | 215 | ​
60-89 days past due | ​ | ​ | 64 | ​ | ​ | 4 | ​ | ​ | 68 | ​ | ​ | 71 | ​ | ​ | 15 | ​ | ​ | 86 | ​
90+ days past due | ​ | ​ | 2 | ​ | ​ | ​ | ​ | ​ | 2 | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | 4 | ​
Non-performing | ​ | ​ | 263 | ​ | ​ | 6 | ​ | ​ | 269 | ​ | ​ | 301 | ​ | ​ | 6 | ​ | ​ | 307 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 4,859 | ​ | ​ | 88 | ​ | ​ | 4,947 | ​ | ​ | 4,362 | ​ | ​ | 75 | ​ | ​ | 4,437 | ​
30-59 days past due | ​ | ​ | 111 | ​ | ​ | 2 | ​ | ​ | 113 | ​ | ​ | 121 | ​ | ​ | 4 | ​ | ​ | 125 | ​
60-89 days past due | ​ | ​ | 55 | ​ | ​ | 1 | ​ | ​ | 56 | ​ | ​ | 46 | ​ | ​ | 1 | ​ | ​ | 47 | ​
90+ days past due | ​ | ​ | 14 | ​ | ​ | ​ | ​ | ​ | 14 | ​ | ​ | 19 | ​ | ​ | ​ | ​ | ​ | 19 | ​
Non-performing | ​ | ​ | 106 | ​ | ​ | 1 | ​ | ​ | 107 | ​ | ​ | 156 | ​ | ​ | 1 | ​ | ​ | 157 | ​
Total customer receivables | ​ | $ | 27,206 | ​ | $ | 3,902 | ​ | $ | 31,108 | ​ | $ | 24,697 | ​ | $ | 2,733 | ​ | $ | 27,430 | ​
Wholesale Receivables |
Financing Receivables |
Credit Quality Analysis | The credit quality analysis of wholesale receivables in millions of dollars at January 31, 2021 was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year of Origination | ​
​ | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​ | 2018 | ​ | 2017 | ​ | Prior | ​ | Revolving | ​ | Total | ​
Wholesale receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ​
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 78 | ​ | $ | 226 | ​ | $ | 67 | ​ | $ | 18 | ​ | $ | 8 | ​ | $ | 1 | ​ | $ | 2,297 | ​ | $ | 2,695 | ​
30-59 days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
60-89 days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 35 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 35 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 3 | ​ | ​ | 11 | ​ | ​ | 20 | ​ | ​ | 2 | ​ | ​ | 1 | ​ | ​ | 2 | ​ | ​ | 315 | ​ | ​ | 354 | ​
30-59 days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
60-89 days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | 1 | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total wholesale receivables | ​ | $ | 81 | ​ | $ | 237 | ​ | $ | 122 | ​ | $ | 20 | ​ | $ | 9 | ​ | $ | 4 | ​ | $ | 2,612 | ​ | $ | 3,085 | ​
Age Credit Quality Analysis | The credit quality analysis of wholesale receivables in millions of dollars at November 1, 2020 and February 2, 2020 was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | November 1 | ​ | February 2 | ​
Wholesale receivables: | ​ | 2020 | ​ | 2020 | ​
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 3,010 | ​ | $ | 3,938 | ​
30-59 days past due | ​ | ​ | ​ | ​ | ​ | 1 | ​
60-89 days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | 47 | ​ | ​ | 76 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 472 | ​ | ​ | 482 | ​
30-59 days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​
60-89 days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | 2 | ​
Total wholesale receivables | ​ | $ | 3,529 | ​ | $ | 4,499 | ​

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524 + Details
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