ACCOUNTS PAYABLE AND ACCRUED EXPENSES

9 Months Ended

Jul. 28, 2024

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

(13) Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:


	July 28		October 29		July 30
	2024		2023		2023
Accounts payable:
Trade payables	$	2,580	$	3,467	$	3,308
Dividends payable		407		388		365
Operating lease liabilities		258		281		308
Deposits withheld from dealers and merchants		151		163		158
Payables to unconsolidated affiliates		4		6		4
Other		173		153		173
Accrued expenses:
Employee benefits		1,802		2,152		1,808
Product warranties		1,513		1,610		1,619
Accrued taxes		1,497		1,558		1,595
Derivative liabilities		582		1,130		948
Dealer sales discounts		846		1,243		902
Extended warranty premium		1,129		1,021		999
Unearned revenue (contractual liability)		766		676		754
Unearned operating lease revenue		480		451		428
Accrued interest		478		434		402
Parts return liability		404		392		378
Other		1,327		1,005		1,191
Accounts payable and accrued expenses	$	14,397	$	16,130	$	15,340

Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,535 at July 28, 2024, $2,228 at October 29, 2023, and $2,240 at July 30, 2023. Other eliminations were made for accrued taxes and other accrued expenses.