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Accounting for Leases as a Lessor (Tables)
 9 Months Ended
Jul. 31, 2020
Leases [Abstract]  
Components of Financing Receivables The components of financing receivables were as follows:
 As of
 July 31, 2020October 31, 2019
 In millions
Minimum lease payments receivable$9,435 $9,070 
Unguaranteed residual value368 336 
Unearned income(760)(754)
Financing receivables, gross9,043 8,652 
Allowance for doubtful accounts(142)(131)
Financing receivables, net8,901 8,521 
Less: current portion(1)
(3,797)(3,572)
Amounts due after one year, net(1)
$5,104 $4,949 

(1)The Company includes the current portion in Financing receivables, net of allowance for doubtful accounts, and amounts due after one year, net in Long-term financing receivables and other assets, in the accompanying Condensed Consolidated Balance Sheets.
Sales-type and Direct Financing Leases, Lease Receivable, Maturity
Scheduled maturities of the Company's minimum lease payments receivable were as follows:
As of
July 31, 2020
Fiscal yearIn millions
Remainder of fiscal 2020 $1,547 
20213,284 
20222,373 
20231,376 
2024639 
Thereafter216 
Total undiscounted cash flows$9,435 
   Present value of lease payments (recognized as finance receivables)$8,623 
   Difference between undiscounted cash flows and discounted cash flows$812 
Minimum Lease Payments Receivable
Prior to the adoption of the new lease standard, scheduled maturities of the Company's minimum lease payments receivable were as follows:
As of
October 31, 2019
Fiscal yearIn millions
2020$3,939 
20212,449 
20221,555 
2023752 
2024306 
Thereafter69 
Total$9,070 
Credit Risk Profile of Gross Financing Receivables
The credit risk profile of gross financing receivables, based on internal risk ratings, was as follows:
 As of
 July 31, 2020October 31, 2019
 In millions
Risk Rating:  
Low$4,579 $4,432 
Moderate4,115 3,933 
High349 287 
Total$9,043 $8,652 
Allowance for Doubtful Accounts for Financing Receivables
The allowance for doubtful accounts for financing receivables as of July 31, 2020 and October 31, 2019 and the respective changes during the nine and twelve months then ended were as follows:
 As of
 July 31, 2020October 31, 2019
 In millions
Balance at beginning of period$131 $120 
Provision for doubtful accounts28 33 
Write-offs(17)(22)
Balance at end of period$142 $131 
Gross Financing Receivables and Related Allowance Evaluated for Loss
The gross financing receivables and related allowance evaluated for loss were as follows:
 As of
 July 31, 2020October 31, 2019
 In millions
Gross financing receivables collectively evaluated for loss$8,174 $8,255 
Gross financing receivables individually evaluated for loss(1)
869 397 
Total$9,043 $8,652 
Allowance for financing receivables collectively evaluated for loss$89 $84 
Allowance for financing receivables individually evaluated for loss53 47 
Total$142 $131 

(1)Includes billed operating lease receivables and billed and unbilled sales-type and direct-financing lease receivables.
Summary of the Aging and Non-accrual Status of Gross Financing Receivables
The following table summarizes the aging and non-accrual status of gross financing receivables:
 As of
 July 31, 2020October 31, 2019
 In millions
Billed:(1)
  
Current 1-30 days$339 $301 
Past due 31-60 days71 62 
Past due 61-90 days35 15 
Past due > 90 days162 88 
Unbilled sales-type and direct-financing lease receivables8,436 8,186 
Total gross financing receivables$9,043 $8,652 
Gross financing receivables on non-accrual status(2)
$569 $276 
Gross financing receivables 90 days past due and still accruing interest(2)
$300 $121 

(1)Includes billed operating lease receivables and billed sales-type and direct-financing lease receivables.
(2)Includes billed operating lease receivables and billed and unbilled sales-type and direct-financing lease receivables.
Operating Lease Assets Included in Machinery and Equipment
Operating lease assets included in Property, plant and equipment in the Condensed Consolidated Balance Sheets were as follows:
 As of
 July 31, 2020October 31, 2019
 In millions
Equipment leased to customers$7,210 $7,185 
Accumulated depreciation(3,184)(3,101)
Total$4,026 $4,084 
Lessor Operating Lease Payments Maturity
Minimum future rentals on non-cancelable operating leases related to leased equipment were as follows:
As of
July 31, 2020
Fiscal yearIn millions
Remainder of fiscal 2020 $521 
20211,641 
2022894 
2023308 
202454 
Thereafter3 
Total$3,421 
Lessor Lease Activity
The following table presents amounts included in the Condensed Consolidated Statement of Earnings related to lessor activity:
Three Months Ended July 31, 2020Nine Months Ended July 31, 2020
In millions
Sales-type leases and direct financing leases:
Interest income $115 $343 
Lease income - operating leases588 1,821 
Total lease income$703 $2,164 
Schedule of Variable Interest Entities The assets in the table below include those that can be used to settle the obligations of the VIE. Additionally, general creditors do not have recourse to the assets of the VIE.
As of
 July 31, 2020October 31, 2019
Assets held by VIEIn millions
Other current assets$163 $76 
Financing receivables
Short-term$586 $194 
Long-term$711 $229 
Property, plant and equipment$764 $303 
Liabilities held by VIE
Notes payable and short-term borrowings, net of unamortized debt issuance costs$1,018 $385 
Long-term debt, net of unamortized debt issuance costs$1,057 $370