FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 26, 2025

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:


	Three Months Ended January 26, 2025
	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total
Allowance:
Beginning of period balance	$	219	$	8	$	2	$	229
Provision		68		2				70
Write-offs		(48)		(13)				(61)
Recoveries		2		9				11
Translation adjustments		(1)						(1)
End of period balance	$	240	$	6	$	2	$	248

Financing receivables:
End of period balance	$	38,300	$	3,302	$	8,299	$	49,901


	Three Months Ended January 28, 2024
	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total
Allowance:
Beginning of period balance	$	172	$	21	$	4	$	197
Provision (credit)		35		(2)				33
Write-offs		(31)		(11)				(42)
Recoveries		1		8				9
Translation adjustments						(2)		(2)
End of period balance	$	177	$	16	$	2	$	195

Financing receivables:
End of period balance	$	39,824	$	3,006	$	7,473	$	50,303

Ending Amortized Cost and Performance of Financing Receivables Modified

The ending amortized cost and performance of financing receivables modified during the prior twelve months ended January 26, 2025 and January 28, 2024 were as follows:


	January 26		January 28
	2025		2024*
Current	$	74	$	16
30-59 days past due		7
60-89 days past due		4
90+ days past due		3
Non-performing		13		1
Total	$	101	$	17

* In accordance with the adoption date of the accounting modification guidance, this period includes receivables modified during the prior three months.

Retail Customer Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows:


	January 26, 2025
	2025		2024		2023		2022		2021		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	2,421	$	12,687	$	7,437	$	4,560	$	2,387	$	903	$	3,027	$	33,422
30-59 days past due		8		113		94		51		27		12		128		433
60-89 days past due		1		44		38		21		10		5		24		143
90+ days past due				2		1				4						7
Non-performing				44		120		81		49		33		15		342
Construction and forestry
Current		883		2,834		1,614		880		349		73		99		6,732
30-59 days past due		7		72		45		29		11		3		5		172
60-89 days past due				30		21		11		4		1		3		70
90+ days past due				4		2		3				1				10
Non-performing				66		100		56		33		15		1		271
Total retail customer receivables	$	3,320	$	15,896	$	9,472	$	5,692	$	2,874	$	1,046	$	3,302	$	41,602

Write-offs for the three months ended January 26, 2025:
Agriculture and turf			$	5	$	9	$	6	$	2	$	3	$	10	$	35
Construction and forestry				9		8		4		1		1		3		26
Total			$	14	$	17	$	10	$	3	$	4	$	13	$	61


	October 27, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	14,394	$	8,305	$	5,191	$	2,833	$	992	$	253	$	4,465	$	36,433
30-59 days past due		44		101		55		27		11		4		40		282
60-89 days past due		22		50		21		10		8		2		13		126
90+ days past due		1		1		1		2								5
Non-performing		23		91		76		50		20		13		15		288
Construction and forestry
Current		3,100		1,841		1,064		458		102		45		114		6,724
30-59 days past due		54		47		25		10		3		2		4		145
60-89 days past due		25		28		10		7		2				2		74
90+ days past due		1		4		3		1								9
Non-performing		40		94		67		32		9		5		1		248
Total retail customer receivables	$	17,704	$	10,562	$	6,513	$	3,430	$	1,147	$	324	$	4,654	$	44,334

Write-offs for the twelve months ended October 27, 2024:
Agriculture and turf	$	5	$	33	$	25	$	11	$	11	$	5	$	87	$	177
Construction and forestry		9		38		30		11		5		3		8		104
Total	$	14	$	71	$	55	$	22	$	16	$	8	$	95	$	281


	January 28, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	3,248	$	13,626	$	7,731	$	4,577	$	2,032	$	931	$	2,798	$	34,943
30-59 days past due		5		122		66		47		22		11		71		344
60-89 days past due		1		50		26		15		7		5		16		120
90+ days past due				1		1		3		4						9
Non-performing				49		95		66		34		42		11		297
Construction and forestry
Current		803		2,698		1,743		911		276		109		101		6,641
30-59 days past due		8		73		46		26		8		3		5		169
60-89 days past due				26		20		13		6		3		2		70
90+ days past due						2		1				1				4
Non-performing		1		67		86		48		20		9		2		233
Total retail customer receivables	$	4,066	$	16,712	$	9,816	$	5,707	$	2,409	$	1,114	$	3,006	$	42,830

Write-offs for the three months ended January 28, 2024:
Agriculture and turf			$	2	$	4	$	3	$	4	$	1	$	9	$	23
Construction and forestry				6		7		2		1		1		2		19
Total			$	8	$	11	$	5	$	5	$	2	$	11	$	42

Wholesale Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of wholesale receivables was as follows:


	January 26		October 27		January 28
	2025		2024		2024
Wholesale receivables:
Agriculture and turf
Current	$	7,098	$	7,568	$	6,564
30+ days past due						1
Non-performing		1		1		1
Construction and forestry
Current		1,200		1,358		907
30+ days past due
Non-performing
Total wholesale receivables	$	8,299	$	8,927	$	7,473