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RECEIVABLES (Tables) | 12 Months Ended
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Oct. 30, 2022
Accounts, Notes, Loans and Financing Receivable |
Schedule of Financing Receivable Installments | Financing receivable installments, including unearned finance income, at October 30, 2022 and October 31, 2021 were scheduled as follows in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 |
​ | ​ | Unrestricted/Securitized |  | Unrestricted/Securitized |
Due in months: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
0 – 12 | ​ | $ | 17,032 | ​ | $ | 2,226 | ​ | $ | 15,205 | ​ | $ | 1,904 | ​
13 – 24 | ​ |  | 7,975 | ​ |  | 1,667 | ​ |  | 7,412 | ​ |  | 1,323 | ​
25 – 36 | ​ |  | 5,987 | ​ |  | 1,209 | ​ |  | 5,629 | ​ |  | 885 | ​
37 – 48 | ​ |  | 4,297 | ​ |  | 709 | ​ |  | 3,991 | ​ |  | 478 | ​
49 – 60 | ​ |  | 2,559 | ​ |  | 227 | ​ |  | 2,397 | ​ |  | 150 | ​
Thereafter | ​ |  | 809 | ​ |  | 9 | ​ |  | 772 | ​ |  | 13 | ​
Total | ​ | $ | 38,659 | ​ | $ | 6,047 | ​ | $ | 35,406 | ​ | $ | 4,753 | ​
​
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 follows in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Retail Notes | ​ | Revolving | ​ | ​ | ​ | ​ |
​ | ​ | & Financing | ​ | Charge | ​ | Wholesale | ​ | ​ |
​ |  | Leases |  | Accounts |  | Receivables | ​ | Total |
2022 |  | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ |  | ​ | ​ |
Allowance: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning of year balance | ​ | $ | 138 | ​ | $ | 21 | ​ | $ | 7 | ​ | $ | 166 | ​
Provision (credit) | ​ |  | 197 | ​ |  | (2) | ​ |  | (3) | ​ |  | 192 | ​
Write-offs | ​ |  | (61) | ​ |  | (27) | ​ |  | ​ | ​ |  | (88) | ​
Recoveries | ​ |  | 22 | ​ |  | 30 | ​ | ​ | ​ | ​ |  | 52 | ​
Translation adjustments | ​ |  | 3 | ​ | ​ | ​ | ​ |  | ​ | ​ |  | 3 | ​
End of year balance* | ​ | $ | 299 | ​ | $ | 22 | ​ | $ | 4 | ​ | $ | 325 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financing receivables: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
End of year balance | ​ | $ | 35,367 | ​ | $ | 4,255 | ​ | $ | 3,273 | ​ | $ | 42,895 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2021 |  | ​ | ​ |  | ​ |  |  | ​ | ​ |  | ​ | ​ |
Allowance: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning of year balance | ​ | $ | 133 | ​ | $ | 43 | ​ | $ | 8 | ​ | $ | 184 | ​
ASU No. 2016-13 | ​ | ​ | 44 | ​ |  | (13) | ​ |  | ​ | ​ | ​ | 31 | ​
Provision (credit) | ​ |  | ​ | ​ |  | (17) | ​ |  | (1) | ​ |  | (18) | ​
Write-offs | ​ |  | (60) | ​ |  | (28) | ​ |  | ​ | ​ |  | (88) | ​
Recoveries | ​ |  | 20 | ​ |  | 36 | ​ | ​ | ​ | ​ |  | 56 | ​
Translation adjustments | ​ |  | 1 | ​ | ​ | ​ | ​ |  | ​ | ​ |  | 1 | ​
End of year balance* | ​ | $ | 138 | ​ | $ | 21 | ​ | $ | 7 | ​ | $ | 166 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financing receivables: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
End of year balance | ​ | $ | 32,233 | ​ | $ | 3,825 | ​ | $ | 2,566 | ​ | $ | 38,624 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning of year balance | ​ | $ | 107 | ​ | $ | 40 | ​ | $ | 3 | ​ | $ | 150 | ​
Provision | ​ |  | 81 | ​ |  | 26 | ​ |  | 3 | ​ |  | 110 | ​
Write-offs | ​ |  | (65) | ​ |  | (53) | ​ |  | ​ | ​ |  | (118) | ​
Recoveries | ​ |  | 17 | ​ |  | 30 | ​ | ​ | ​ | ​ |  | 47 | ​
Translation adjustments | ​ |  | (7) | ​ | ​ | ​ | ​ |  | 2 | ​ |  | (5) | ​
End of year balance* | ​ | $ | 133 | ​ | $ | 43 | ​ | $ | 8 | ​ | $ | 184 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financing receivables: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
End of year balance | ​ | $ | 27,206 | ​ | $ | 3,902 | ​ | $ | 3,529 | ​ | $ | 34,637 | ​
* Individual allowances were not significant. ​
Financing Receivable Analysis Metrics | Financing receivable analysis metrics follow in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​
Percent of the overall financing receivable portfolio: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Past-due amounts | ​ | ​ | 1.07 | ​ | ​ | 1.09 | ​
Non-performing | ​ | ​ | .83 | ​ | ​ | .96 | ​
Allowance for credit losses | ​ | ​ | .76 | ​ | ​ | .43 | ​
Deposits held as credit enhancements | ​ | $ | 158 | ​ | $ | 154 | ​
​
Schedule of Troubled Debt Restructuring Modifications | The following table includes receivable contracts identified as troubled debt restructurings: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020 | ​
Number of receivable contracts | ​ | ​ | 276 | ​ | ​ | 397 | ​ | ​ | 574 | ​
Pre-modification balance in millions | ​ | $ | 12 | ​ | $ | 18 | ​ | $ | 108 | ​
Post modification balance in millions | ​ | ​ | 10 | ​ | ​ | 17 | ​ | ​ | 95 | ​
​
Schedule of Other Receivables | Other receivables at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Taxes receivable | ​ | $ | 1,450 | ​ | $ | 1,436 |
Collateral on derivatives | ​ | ​ | 709 | ​ | ​ | 13 | ​
Receivables from unconsolidated affiliates | ​ | ​ | ​ | ​ | ​ | 27 | ​
Other | ​ |  | 333 | ​ |  | 289 | ​
Other receivables |  | $ | 2,492 |  | $ | 1,765 | ​
Retail Customer Receivables |
Accounts, Notes, Loans and Financing Receivable |
Credit Quality Analysis | The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 30, 2022 | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​
Retail customer receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 13,500 | ​ | $ | 7,984 | ​ | $ | 4,091 | ​ | $ | 1,875 | ​
30-59 days past due | ​ | ​ | 46 | ​ | ​ | 63 | ​ | ​ | 36 | ​ | ​ | 17 | ​
60-89 days past due | ​ | ​ | 14 | ​ | ​ | 25 | ​ | ​ | 13 | ​ | ​ | 6 | ​
90+ days past due | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | 27 | ​ | ​ | 60 | ​ | ​ | 44 | ​ | ​ | 28 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 2,964 | ​ | ​ | 1,974 | ​ | ​ | 842 | ​ | ​ | 292 | ​
30-59 days past due | ​ | ​ | 53 | ​ | ​ | 52 | ​ | ​ | 23 | ​ | ​ | 9 | ​
60-89 days past due | ​ | ​ | 19 | ​ | ​ | 16 | ​ | ​ | 7 | ​ | ​ | 3 | ​
90+ days past due | ​ | ​ | 1 | ​ | ​ | 4 | ​ | ​ | 1 | ​ | ​ | 3 | ​
Non-performing | ​ | ​ | 25 | ​ | ​ | 61 | ​ | ​ | 34 | ​ | ​ | 19 | ​
Total retail customer receivables | ​ | $ | 16,650 | ​ | $ | 10,239 | ​ | $ | 5,091 | ​ | $ | 2,252 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 30, 2022 | ​
​ | ​ | 2018 | ​ | Prior Years | ​ | Revolving Charge Accounts | ​ | Total | ​
Retail customer receivables: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 785 | ​ | $ | 200 | ​ | $ | 4,111 | ​ | $ | 32,546 | ​
30-59 days past due | ​ | ​ | 7 | ​ | ​ | 3 | ​ | ​ | 19 | ​ | ​ | 191 | ​
60-89 days past due | ​ | ​ | 2 | ​ | ​ | 1 | ​ | ​ | 5 | ​ | ​ | 66 | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
Non-performing | ​ | ​ | 18 | ​ | ​ | 19 | ​ | ​ | 8 | ​ | ​ | 204 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 73 | ​ | ​ | 12 | ​ | ​ | 108 | ​ | ​ | 6,265 | ​
30-59 days past due | ​ | ​ | 2 | ​ | ​ | 1 | ​ | ​ | 3 | ​ | ​ | 143 | ​
60-89 days past due | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | 47 | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | 10 | ​
Non-performing | ​ | ​ | 7 | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | 149 | ​
Total retail customer receivables | ​ | $ | 895 | ​ | $ | 240 | ​ | $ | 4,255 | ​ | $ | 39,622 | ​
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31, 2021 | ​
​ | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​ | 2018 | ​
Retail customer receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 12,877 | ​ | $ | 6,676 | ​ | $ | 3,463 | ​ | $ | 1,738 | ​
30-59 days past due | ​ | ​ | 43 | ​ | ​ | 53 | ​ | ​ | 29 | ​ | ​ | 16 | ​
60-89 days past due | ​ | ​ | 16 | ​ | ​ | 23 | ​ | ​ | 12 | ​ | ​ | 6 | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | 23 | ​ | ​ | 57 | ​ | ​ | 53 | ​ | ​ | 32 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 3,122 | ​ | ​ | 1,575 | ​ | ​ | 754 | ​ | ​ | 273 | ​
30-59 days past due | ​ | ​ | 50 | ​ | ​ | 40 | ​ | ​ | 27 | ​ | ​ | 7 | ​
60-89 days past due | ​ | ​ | 15 | ​ | ​ | 11 | ​ | ​ | 9 | ​ | ​ | 6 | ​
90+ days past due | ​ | ​ | 1 | ​ | ​ | 2 | ​ | ​ | 3 | ​ | ​ | 3 | ​
Non-performing | ​ | ​ | 26 | ​ | ​ | 56 | ​ | ​ | 39 | ​ | ​ | 17 | ​
Total retail customer receivables | ​ | $ | 16,173 | ​ | $ | 8,494 | ​ | $ | 4,389 | ​ | $ | 2,098 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31, 2021 | ​
​ | ​ | 2017 | ​ | Prior Years | ​ | Revolving Charge Accounts | ​ | Total | ​
Retail customer receivables: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 728 | ​ | $ | 211 | ​ | $ | 3,704 | ​ | $ | 29,397 | ​
30-59 days past due | ​ | ​ | 7 | ​ | ​ | 3 | ​ | ​ | 14 | ​ | ​ | 165 | ​
60-89 days past due | ​ | ​ | 3 | ​ | ​ | 1 | ​ | ​ | 4 | ​ | ​ | 65 | ​
90+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
Non-performing | ​ | ​ | 17 | ​ | ​ | 23 | ​ | ​ | 7 | ​ | ​ | 212 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 57 | ​ | ​ | 7 | ​ | ​ | 92 | ​ | ​ | 5,880 | ​
30-59 days past due | ​ | ​ | 4 | ​ | ​ | 1 | ​ | ​ | 3 | ​ | ​ | 132 | ​
60-89 days past due | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | 43 | ​
90+ days past due | ​ | ​ | 4 | ​ | ​ | 2 | ​ | ​ | ​ | ​ | ​ | 15 | ​
Non-performing | ​ | ​ | 7 | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | 148 | ​
Total retail customer receivables | ​ | $ | 828 | ​ | $ | 251 | ​ | $ | 3,825 | ​ | $ | 36,058 | ​
​
Wholesale Receivables |
Accounts, Notes, Loans and Financing Receivable |
Credit Quality Analysis | ​ The credit quality analysis of wholesale receivables by year of origination was as follows in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 30, 2022 | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​
Wholesale receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 387 | ​ | $ | 64 | ​ | $ | 27 | ​ | $ | 4 | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 7 | ​ | ​ | 29 | ​ | ​ | 2 | ​ | ​ | 1 | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total wholesale receivables | ​ | $ | 394 | ​ | $ | 93 | ​ | $ | 29 | ​ | $ | 6 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 30, 2022 | ​
​ | ​ | 2018 | ​ | Prior Years | ​ | Revolving | ​ | Total | ​
Wholesale receivables: | ​ |  |  |  |  |  |  |  |  |  |  |  | ​
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | ​ | ​ | $ | 2 | ​ | $ | 2,371 | ​ | $ | 2,855 | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | 377 | ​ | ​ | 417 | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total wholesale receivables | ​ | ​ | ​ | ​ | $ | 3 | ​ | $ | 2,748 | ​ | $ | 3,273 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31, 2021 | ​
​ | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​ | 2018 | ​
Wholesale receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 346 | ​ | $ | 80 | ​ | $ | 22 | ​ | $ | 9 | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 12 | ​ | ​ | ​ | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 41 | ​ | ​ | 7 | ​ | ​ | 7 | ​ | ​ | ​ | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total wholesale receivables | ​ | $ | 387 | ​ | $ | 87 | ​ | $ | 41 | ​ | $ | 9 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31, 2021 | ​
​ | ​ | 2017 | ​ | Prior Years | ​ | Revolving | ​ | Total | ​
Wholesale receivables: | ​ |  |  |  |  |  |  |  |  |  |  |  | ​
Agriculture and turf | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 3 | ​ | ​ | ​ | ​ | $ | 1,696 | ​ | $ | 2,156 | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 12 | ​
Construction and forestry | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 1 | ​ | $ | 1 | ​ | ​ | 340 | ​ | ​ | 397 | ​
30+ days past due | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | 1 | ​
Non-performing | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total wholesale receivables | ​ | $ | 4 | ​ | $ | 2 | ​ | $ | 2,036 | ​ | $ | 2,566 | ​
​
Trade Accounts and Notes Receivable |
Accounts, Notes, Loans and Financing Receivable |
Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment | Trade accounts and notes receivable at October 30, 2022 and October 31, 2021 in millions of dollars follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Trade accounts and notes receivable: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Production & precision ag | ​ | $ | 2,397 | ​ | $ | 1,204 | ​
Small ag & turf | ​ | ​ | 2,065 | ​ | ​ | 1,683 | ​
Construction & forestry | ​ |  | 1,948 | ​ |  | 1,321 | ​
Trade accounts and notes receivable – net | ​ | $ | 6,410 | ​ | $ | 4,208 | ​
​
Schedule of Allowance for Credit Losses on Trade Accounts and Notes Receivable | The allowance for credit losses on trade accounts and notes receivable at October 30, 2022, October 31, 2021, and November 1, 2020, as well as the related activity, in millions of dollars follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​
Beginning of year balance | ​ | $ | 41 | ​ | $ | 39 | ​ | $ | 72 | ​
ASU No. 2016-13 | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | ​ | ​
Provision | ​ | ​ | 1 | ​ | ​ | 10 | ​ | ​ | ​ | ​
Write-offs | ​ | ​ | (5) | ​ | ​ | (7) | ​ | ​ | (23) | ​
Recoveries | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
Translation adjustments | ​ | ​ | (1) | ​ | ​ | 1 | ​ | ​ | (11) | ​
End of year balance | ​ | $ | 36 | ​ | $ | 41 | ​ | $ | 39 | ​
​
Financing Receivables |
Accounts, Notes, Loans and Financing Receivable |
Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment | Financing receivables at October 30, 2022 and October 31, 2021 in millions of dollars follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 |
​ |  | Unrestricted/Securitized |  | Unrestricted/Securitized | ​
Retail notes: | ​ | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​
Agriculture and turf | ​ | $ | 23,830 | ​ | $ | 4,868 | ​ | $ | 21,736 | ​ | $ | 4,041 | ​
Construction and forestry | ​ |  | 4,396 | ​ |  | 1,179 | ​ |  | 4,334 | ​ |  | 712 | ​
Total | ​ |  | 28,226 | ​ |  | 6,047 | ​ |  | 26,070 | ​ |  | 4,753 | ​
Wholesale notes | ​ |  | 3,285 | ​ | ​ | ​ | ​ |  | 2,577 | ​ | ​ | ​ | ​
Revolving charge accounts | ​ |  | 4,316 | ​ | ​ | ​ | ​ |  | 3,880 | ​ | ​ | ​ | ​
Financing leases (direct and sales-type) | ​ |  | 2,832 | ​ | ​ | ​ | ​ |  | 2,879 | ​ | ​ | ​ | ​
Total financing receivables | ​ |  | 38,659 | ​ |  | 6,047 | ​ |  | 35,406 | ​ |  | 4,753 | ​
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unearned finance income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retail notes | ​ |  | 1,358 | ​ |  | 95 | ​ |  | 1,131 | ​ |  | 80 | ​
Wholesale notes | ​ | ​ | 12 | ​ | ​ | ​ | ​ | ​ | 11 | ​ | ​ | ​ | ​
Revolving charge accounts | ​ | ​ | 61 | ​ | ​ | ​ | ​ | ​ | 55 | ​ | ​ | ​ | ​
Financing leases | ​ |  | 285 | ​ | ​ | ​ | ​ |  | 258 | ​ | ​ | ​ | ​
Total | ​ |  | 1,716 | ​ |  | 95 | ​ |  | 1,455 | ​ |  | 80 | ​
Allowance for credit losses | ​ |  | 309 | ​ |  | 16 | ​ |  | 152 | ​ |  | 14 | ​
Financing receivables – net | ​ | $ | 36,634 | ​ | $ | 5,936 | ​ | $ | 33,799 | ​ | $ | 4,659 | ​
​
Financing Receivables | Related to Sales of Equipment |
Accounts, Notes, Loans and Financing Receivable |
Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment | Financing receivables at October 30, 2022 and October 31, 2021 related to the company’s sales of equipment that were included in the previous table consisted of the following in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 |
Retail notes*: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agriculture and turf | ​ | $ | 1,392 | ​ | $ | 1,977 | ​
Construction and forestry | ​ | ​ | 304 | ​ |  | 378 | ​
Total | ​ | ​ | 1,696 | ​ |  | 2,355 | ​
Wholesale notes | ​ | ​ | 3,285 | ​ |  | 2,577 | ​
Sales-type leases | ​ | ​ | 799 | ​ |  | 1,269 | ​
Total | ​ | ​ | 5,780 | ​ | ​ | 6,201 | ​
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unearned finance income: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retail notes | ​ | ​ | 133 | ​ | ​ | 159 | ​
Wholesale notes | ​ | ​ | 12 | ​ | ​ | 11 | ​
Sales-type leases | ​ | ​ | 67 | ​ |  | 98 | ​
Total | ​ |  | 212 | ​ |  | 268 | ​
Financing receivables related to the company’s sales of equipment | ​ | $ | 5,568 | ​ | $ | 5,933 | ​
* These retail notes arise from sales of equipment by company-owned dealers or through direct sales. ​ Included in the table above were $10 million of securitized construction and forestry retail notes at October 31, 2021.

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- Definition Tabular disclosure of allowance for credit loss on financing receivable and net investment in lease. + References No definition available. + Details
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- Definition Tabular disclosure of financing receivable past-due, non-performing, and allowance as a percentage of financing receivables, and deposits held as credit enhancements. + References No definition available. + Details
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- Definition Tabular disclosure of financing receivables and net investment in leases 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 No definition available. + Details
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- Definition This element represents the schedule disclosing the components of other receivables. + References No definition available. + Details
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + 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 210.5-02.3,4) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition Tabular disclosure of the annual minimum payments due from financing receivables, such as, but not limited to accounts, notes, loans, and other financing receivables. + References No definition available. + Details
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- Definition Tabular disclosure of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953676-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953682-111524 + Details
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