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ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 6 Months Ended
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Apr. 30, 2023
ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | (13) Accounts Payable and Accrued Expenses Accounts payable and accrued expenses were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | April 30 |  | October 30 |  | May 1 |
​ |  | 2023 |  | 2022 | ​ | 2022 | ​
Accounts payable: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade payables |  | $ | 3,680 |  | $ | 3,894 | ​ | $ | 3,631 | ​
Payables to unconsolidated affiliates | ​ | ​ | 9 | ​ | ​ | 11 | ​ | ​ | 7 | ​
Dividends payable | ​ |  | 371 | ​ |  | 343 | ​ |  | 325 | ​
Operating lease liabilities | ​ | ​ | 294 | ​ | ​ | 302 | ​ | ​ | 260 | ​
Deposits withheld from dealers and merchants | ​ | ​ | 157 | ​ | ​ | 163 | ​ | ​ | 150 | ​
Other | ​ |  | 131 | ​ |  | 214 | ​ |  | 163 | ​
Accrued expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dealer sales discounts | ​ |  | 605 | ​ |  | 1,044 | ​ |  | 400 | ​
Product warranties | ​ |  | 1,562 | ​ |  | 1,427 | ​ |  | 1,286 | ​
Employee benefits | ​ |  | 1,475 | ​ |  | 1,528 | ​ |  | 1,069 | ​
Accrued taxes | ​ | ​ | 1,691 | ​ | ​ | 1,255 | ​ | ​ | 1,150 | ​
Unearned operating lease revenue | ​ | ​ | 441 | ​ | ​ | 399 | ​ | ​ | 391 | ​
Unearned revenue (contractual liability) | ​ |  | 673 | ​ |  | 557 | ​ |  | 614 | ​
Extended warranty premium | ​ | ​ | 949 | ​ | ​ | 866 | ​ | ​ | 809 | ​
Accrued interest | ​ | ​ | 354 | ​ | ​ | 288 | ​ | ​ | 256 | ​
Derivative liabilities | ​ | ​ | 758 | ​ | ​ | 1,231 | ​ | ​ | 780 | ​
Other | ​ |  | 1,566 | ​ |  | 1,300 | ​ |  | 1,388 | ​
Total accounts payable and accrued expenses |  | $ | 14,716 |  | $ | 14,822 | ​ | $ | 12,679 | ​
Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $1,979 million at April 30, 2023, $1,280 million at October 30, 2022, and $1,173 million at May 1, 2022. Other eliminations were made for accrued taxes and other accrued expenses.

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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 https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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