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ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 12 Months Ended
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Oct. 30, 2022
ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Accounts payable and accrued expenses | ​ | ​ |  | ​ | ​ |  | ​
Accounts payable: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade payables |  | $ | 3,894 |  | $ | 3,173 |
Payables to unconsolidated affiliates | ​ | ​ | 11 | ​ | ​ | 143 | ​
Dividends payable | ​ |  | 343 | ​ |  | 329 | ​
Operating lease liabilities | ​ | ​ | 302 | ​ | ​ | 279 | ​
Deposits withheld from dealers and merchants | ​ | ​ | 163 | ​ | ​ | 157 | ​
Other | ​ |  | 214 | ​ |  | 159 | ​
Accrued expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dealer sales discounts | ​ |  | 2,324 | ​ |  | 1,636 | ​
Product warranties | ​ |  | 1,427 | ​ |  | 1,312 | ​
Employee benefits | ​ |  | 1,528 | ​ |  | 1,531 | ​
Accrued taxes | ​ | ​ | 1,265 | ​ | ​ | 1,075 | ​
Unearned operating lease revenue | ​ | ​ | 399 | ​ | ​ | 421 | ​
Unearned revenue (contractual liability) | ​ |  | 557 | ​ |  | 570 | ​
Extended warranty premium | ​ | ​ | 866 | ​ | ​ | 774 | ​
Accrued interest | ​ | ​ | 288 | ​ | ​ | 251 | ​
Derivative liabilities | ​ | ​ | 1,231 | ​ | ​ | 228 | ​
Other | ​ |  | 1,320 | ​ |  | 1,175 | ​
Total | ​ | ​ | 16,132 | ​ | ​ | 13,213 | ​
Eliminations* | ​ |  | 1,310 | ​ |  | 865 | ​
Total accounts payable and accrued expenses |  | $ | 14,822 |  | $ | 12,348 | ​
* Pri marily sales incentive accruals with a right of set-off against trade receivables. At October 30, 2022 and October 31, 2021, $1,280 million and $836 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 Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
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