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ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Oct. 27, 2024

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at the end of 2024 and 2023 consisted of the following:

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​	​	​	​	​	​	​	​
​		2024			2023
Accounts payable:	​	​	​	​	​	​	​
Trade payables		$	2,698		$	3,467
Dividends payable	​		405	​		388	​
Operating lease liabilities	​	​	270	​	​	281	​
Deposits withheld from dealers and merchants	​	​	152	​	​	163	​
Payables to unconsolidated affiliates	​	​	6	​	​	6	​
Other	​		204	​		153	​
Accrued expenses:	​	​	​	​	​	​	​
Employee benefits	​		1,925	​		2,152	​
Accrued taxes	​	​	1,509	​	​	1,558	​
Product warranties	​		1,426	​		1,610	​
Dealer sales incentives	​		996	​		1,243	​
Extended warranty premium	​	​	1,179	​	​	1,021	​
Derivative liabilities	​	​	582	​	​	1,130	​
Unearned revenue (contractual liability)	​		744	​		676	​
Unearned operating lease revenue	​	​	495	​	​	451	​
Accrued interest	​	​	455	​	​	434	​
Parts return liability	​	​	420	​	​	392	​
Other	​		1,077	​		1,005	​
Accounts payable and accrued expenses		$	14,543		$	16,130	​

​

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Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,121 at October 27, 2024 and $2,228 at October 29, 2023. Other eliminations were made for accrued taxes and other accrued expenses.

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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.

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