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FINANCING RECEIVABLES (Tables)

6 Months Ended

Apr. 28, 2024

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:


	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total

Three Months Ended April 28, 2024
Allowance:
Beginning of period balance	$	177	$	16	$	2	$	195
Provision		64		23				87
Write-offs		(36)		(23)				(59)
Recoveries		4		5				9
Translation adjustments		(2)						(2)
End of period balance	$	207	$	21	$	2	$	230

Six Months Ended April 28, 2024
Allowance:
Beginning of period balance	$	172	$	21	$	4	$	197
Provision		99		21				120
Write-offs		(68)		(34)				(102)
Recoveries		5		13				18
Translation adjustments		(1)				(2)		(3)
End of period balance	$	207	$	21	$	2	$	230

Financing receivables:
End of period balance	$	40,293	$	3,887	$	8,590	$	52,770


	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total

Three Months Ended April 30, 2023
Allowance:
Beginning of period balance	$	140	$	16	$	4	$	160
Provision		30		8				38
Write-offs		(19)		(11)				(30)
Recoveries		6		6				12
End of period balance	$	157	$	19	$	4	$	180

Six Months Ended April 30, 2023
Allowance:
Beginning of period balance	$	299	$	22	$	4	$	325
Provision		45		4				49
Provision transferred to held for sale		(142)						(142)
Provision (credit) subtotal		(97)		4				(93)
Write-offs		(37)		(18)				(55)
Recoveries		10		11				21
Translation adjustments		(18)						(18)
End of period balance	$	157	$	19	$	4	$	180

Financing receivables:
End of period balance	$	36,159	$	3,783	$	4,851	$	44,793

Write-offs by Year of Origination

Write-offs by year of origination were as follows:


	Six Months Ended April 28, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf	$	1	$	9	$	10	$	5	$	6	$	2	$	30	$	63
Construction and forestry				12		13		5		3		2		4		39
Total retail customer receivables	$	1	$	21	$	23	$	10	$	9	$	4	$	34	$	102

Retail Customer Receivables

Financing Receivables

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:


	April 28, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	7,393	$	11,869	$	6,934	$	3,987	$	1,682	$	696	$	3,662	$	36,223
30-59 days past due		32		99		55		35		15		6		27		269
60-89 days past due		7		44		23		11		6		3		12		106
90+ days past due				3		1		3		5						12
Non-performing		3		83		90		63		31		35		70		375
Construction and forestry
Current		1,619		2,415		1,514		744		207		79		107		6,685
30-59 days past due		25		61		38		20		7		3		5		159
60-89 days past due		7		34		14		10		3		2		2		72
90+ days past due				4		9		1				1				15
Non-performing		5		100		85		47		17		8		2		264
Total retail customer receivables	$	9,091	$	14,712	$	8,763	$	4,921	$	1,973	$	833	$	3,887	$	44,180


	October 29, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	15,191	$	8,430	$	5,120	$	2,334	$	853	$	280	$	4,526	$	36,734
30-59 days past due		62		75		39		21		9		3		29		238
60-89 days past due		18		26		18		10		4		2		9		87
90+ days past due		2		1		3		3								9
Non-performing		30		78		62		33		22		22		8		255
Construction and forestry
Current		2,927		1,961		1,084		353		84		29		119		6,557
30-59 days past due		49		34		27		9		4				4		127
60-89 days past due		19		14		12		5		2				2		54
90+ days past due				6		1						1				8
Non-performing		42		80		55		23		9		4		1		214
Total retail customer receivables	$	18,340	$	10,705	$	6,421	$	2,791	$	987	$	341	$	4,698	$	44,283


	April 30, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	6,718	$	10,947	$	6,435	$	3,155	$	1,305	$	619	$	3,621	$	32,800
30-59 days past due		10		55		55		31		18		9		16		194
60-89 days past due		2		15		24		19		4		2		8		74
90+ days past due				1		1										2
Non-performing		5		51		51		36		25		29		25		222
Construction and forestry
Current		1,442		2,434		1,490		557		169		56		106		6,254
30-59 days past due		7		35		29		25		21		10		4		131
60-89 days past due		1		8		16		12		14		12		2		65
90+ days past due				7		1		1		2						11
Non-performing		5		71		61		33		12		6		1		189
Total retail customer receivables	$	8,190	$	13,624	$	8,163	$	3,869	$	1,570	$	743	$	3,783	$	39,942

Wholesale Receivables

Financing Receivables

Credit Quality Analysis

The credit quality analysis of wholesale receivables by year of origination was as follows:


	April 28, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving		Total
Wholesale receivables:
Agriculture and turf
Current	$	441	$	322	$	50	$	2	$	2	$	2	$	6,565	$	7,384
30+ days past due
Non-performing												1				1
Construction and forestry
Current		49		15		4		19						1,118		1,205
30+ days past due
Non-performing
Total wholesale receivables	$	490	$	337	$	54	$	21	$	2	$	3	$	7,683	$	8,590


	October 29, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving		Total
Wholesale receivables:
Agriculture and turf
Current	$	631	$	93	$	21	$	4	$	1	$	160	$	5,175	$	6,085
30+ days past due
Non-performing										1						1
Construction and forestry
Current		23		5		20						76		712		836
30+ days past due
Non-performing
Total wholesale receivables	$	654	$	98	$	41	$	4		2	$	236	$	5,887	$	6,922


	April 30, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving		Total
Wholesale receivables:
Agriculture and turf
Current	$	265	$	198	$	36	$	15	$	2	$	1	$	3,653	$	4,170
30+ days past due
Non-performing										1						1
Construction and forestry
Current		10		6		24		1				1		638		680
30+ days past due
Non-performing
Total wholesale receivables	$	275	$	204	$	60	$	16	$	3	$	2	$	4,291	$	4,851