RECEIVABLES (Tables)

9 Months Ended

Jul. 31, 2012

RECEIVABLES

Aging of Past Due and Non-Performing Receivables

	July 31, 2012
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due *		Total Past Due
Retail notes:
Agriculture and turf equipment	$	56.0	$	21.9	$	19.5	$	97.4
Construction and forestry equipment	40.3		19.2		8.0		67.5
Revolving charge accounts:
Agriculture and turf equipment	11.5		3.9		2.4		17.8
Construction and forestry equipment	2.7		1.1		.3		4.1
Wholesale receivables:
Agriculture and turf equipment	1.8		.5		1.4		3.7
Construction and forestry equipment	2.1				.6		2.7
Financing leases:
Agriculture and turf equipment	4.3		1.2		.6		6.1
Construction and forestry equipment	1.1		.2		.3		1.6
Operating loans:
Agriculture and turf equipment
Total Receivables	$	119.8	$	48.0	$	33.1	$	200.9
	Total Past Due		Total Non- performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	97.4	$	40.7	$	13,099.5	$	13,237.6
Construction and forestry equipment	67.5		14.0		1,214.6		1,296.1
Revolving charge accounts:
Agriculture and turf equipment	17.8		.7		2,417.1		2,435.6
Construction and forestry equipment	4.1				58.6		62.7
Wholesale receivables:
Agriculture and turf equipment	3.7		.3		5,914.1		5,918.1
Construction and forestry equipment	2.7				1,132.8		1,135.5
Financing leases:
Agriculture and turf equipment	6.1		11.9		327.1		345.1
Construction and forestry equipment	1.6		1.7		139.8		143.1
Operating loans:
Agriculture and turf equipment					43.9		43.9
Total Receivables	$	200.9	$	69.3	$	24,347.5	$	24,617.7

	October 31, 2011
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due *		Total Past Due
Retail notes:
Agriculture and turf equipment	$	76.1	$	25.4	$	20.3	$	121.8
Construction and forestry equipment	43.6		19.0		11.2		73.8
Recreational products
Revolving charge accounts:
Agriculture and turf equipment	15.2		5.7		2.8		23.7
Construction and forestry equipment	2.1		.8		.4		3.3
Wholesale receivables:
Agriculture and turf equipment	1.5		3.0		.6		5.1
Construction and forestry equipment	.4				.2		.6
Financing leases:
Agriculture and turf equipment	4.7		3.4		1.1		9.2
Construction and forestry equipment	.8		1.1		.3		2.2
Operating loans:
Agriculture and turf equipment
Total Receivables	$	144.4	$	58.4	$	36.9	$	239.7
	Total Past Due		Total Non- performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	121.8	$	41.1	$	12,549.8	$	12,712.7
Construction and forestry equipment	73.8		16.9		1,064.8		1,155.5
Recreational products			.1		3.4		3.5
Revolving charge accounts:
Agriculture and turf equipment	23.7		1.5		2,364.7		2,389.9
Construction and forestry equipment	3.3				59.3		62.6
Wholesale receivables:
Agriculture and turf equipment	5.1		4.7		4,350.2		4,360.0
Construction and forestry equipment	.6				851.1		851.7
Financing leases:
Agriculture and turf equipment	9.2		10.2		299.3		318.7
Construction and forestry equipment	2.2		3.0		134.8		140.0
Operating loans:
Agriculture and turf equipment			1.5		82.5		84.0
Total Receivables	$	239.7	$	79.0	$	21,759.9	$	22,078.6

	July 31, 2011
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due *		Total Past Due
Retail notes:
Agriculture and turf equipment	$	76.4	$	58.2	$	21.2	$	155.8
Construction and forestry equipment	47.3		23.5		12.8		83.6
Recreational products	.1		.1				.2
Revolving charge accounts:
Agriculture and turf equipment	15.5		6.3		8.0		29.8
Construction and forestry equipment	2.0		.8		.3		3.1
Wholesale receivables:
Agriculture and turf equipment	1.3		.5		.6		2.4
Construction and forestry equipment	.6		.2		.2		1.0
Financing leases:
Agriculture and turf equipment	7.2		2.9		11.6		21.7
Construction and forestry equipment	2.4		.9		3.7		7.0
Operating loans:
Agriculture and turf equipment
Total Receivables	$	152.8	$	93.4	$	58.4	$	304.6
	Total Past Due		Total Non- performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	155.8	$	45.6	$	11,789.5	$	11,990.9
Construction and forestry equipment	83.6		19.1		1,030.8		1,133.5
Recreational products	.2		.1		3.5		3.8
Revolving charge accounts:
Agriculture and turf equipment	29.8		.9		2,370.5		2,401.2
Construction and forestry equipment	3.1				55.5		58.6
Wholesale receivables:
Agriculture and turf equipment	2.4		1.1		5,000.7		5,004.2
Construction and forestry equipment	1.0				793.2		794.2
Financing leases:
Agriculture and turf equipment	21.7		12.5		277.2		311.4
Construction and forestry equipment	7.0		4.5		127.7		139.2
Operating loans:
Agriculture and turf equipment			2.4		111.2		113.6
Total Receivables	$	304.6	$	86.2	$	21,559.8	$	21,950.6

*Receivables that are 90 days or greater past due and still accruing finance income.

Analysis of the Allowance for Credit Losses and Investment in Receivables

	Three Months Ended
	July 31, 2012
	Retail Notes			Revolving Charge Accounts			Wholesale Receivables			Other			Total Receivables
Allowance:
Beginning of period balance	$	62.0		$	39.7		$	6.5		$	11.6		$	119.8
Provision (credit) for credit losses	(4.5		)	5.8			.3			(.3		)	1.3
Write-offs	(1.9		)	(11.2		)	(.1		)	(.4		)	(13.6		)
Recoveries	1.6			5.4						.5			7.5
Other changes (primarily translation adjustments)	(.2		)				(.2		)	.1			(.3		)
End of period balance	$	57.0		$	39.7		$	6.5		$	11.5		$	114.7
	Nine Months Ended
	July 31, 2012
Allowance:
Beginning of period balance	$	67.8		$	39.7		$	6.0		$	12.8		$	126.3
Provision (credit) for credit losses	(10.0		)	8.2			.9			1.2			.3
Write-offs	(5.2		)	(24.7		)	(.3		)	(3.0		)	(33.2		)
Recoveries	4.8			16.5			.1			.6			22.0
Other changes (primarily translation adjustments)	(.4		)				(.2		)	(.1		)	(.7		)
End of period balance	$	57.0		$	39.7		$	6.5		$	11.5		$	114.7
Balance individually evaluated *	$	.3					$	.5					$	.8
Receivables:
End of period balance	$	14,533.7		$	2,498.3		$	7,053.6		$	532.1		$	24,617.7
Balance individually evaluated *	$	17.5					$	.8					$	18.3

	Three Months Ended
	July 31, 2011
	Retail Notes			Revolving Charge Accounts			Wholesale Receivables			Other			Total Receivables
Allowance:
Beginning of period balance	$	81.8		$	43.3		$	6.1		$	14.2		$	145.4
Provision (credit) for credit losses	(5.5		)	3.2			(.1		)	3.8			1.4
Write-offs	(2.9		)	(11.3		)				(1.8		)	(16.0		)
Recoveries	.7			6.3			.1			.4			7.5
Other changes (primarily translation adjustments)	(.1		)										(.1		)
End of period balance	$	74.0		$	41.5		$	6.1		$	16.6		$	138.2
	Nine Months Ended
	July 31, 2011
Allowance:
Beginning of period balance	$	82.1		$	43.3		$	7.4		$	15.8		$	148.6
Provision (credit) for credit losses	(2.2		)	7.5			(1.4		)	4.3			8.2
Write-offs	(12.3		)	(29.7		)	(.3		)	(4.3		)	(46.6		)
Recoveries	6.0			20.4			.1			.6			27.1
Other changes (primarily translation adjustments)	.4						.3			.2			.9
End of period balance	$	74.0		$	41.5		$	6.1		$	16.6		$	138.2
Balance individually evaluated *	$	.6					$	.3		$	2.1		$	3.0
Receivables:
End of period balance	$	13,128.2		$	2,459.8		$	5,798.4		$	564.2		$	21,950.6
Balance individually evaluated *	$	16.3		$	.4		$	.3		$	6.5		$	23.5

*Remainder is collectively evaluated.

Analysis of Impaired Receivables

	Recorded Investment		Unpaid Principal Balance		Specific Allowance		Average Recorded Investment
July 31, 2012 *
Receivables with specific allowance:
Retail notes	$	1.1	$	1.0	$	.3	$	1.3
Wholesale receivables	.5		.5		.5		.9
Total	1.6		1.5		.8		2.2
Receivables without specific allowance:
Retail notes	9.6		9.4				8.4
Wholesale receivables	.2		.2				.2
Total	$	11.4	$	11.1	$	.8	$	10.8
Agriculture and turf	$	8.6	$	8.3	$	.8	$	7.7
Construction and forestry	$	2.8	$	2.8			$	3.1
October 31, 2011 *
Receivables with specific allowance:
Retail notes	$	.8	$	.8	$	.5	$	.8
Wholesale receivables	4.5		4.5		.2		4.5
Financing leases							.2
Operating loans	.5		.5		.3		2.0
Total	5.8		5.8		1.0		7.5
Receivables without specific allowance:
Retail notes	7.8		7.7				9.9
Wholesale receivables	.3		.3				.3
Total	$	13.9	$	13.8	$	1.0	$	17.7
Agriculture and turf	$	11.0	$	10.9	$	1.0	$	13.5
Construction and forestry	$	2.9	$	2.9			$	4.2
July 31, 2011 *
Receivables with specific allowance:
Retail notes	$	1.3	$	1.3	$	.6	$	1.3
Wholesale receivables	.3		.3		.3		1.0
Financing leases	1.1		.9		.4		1.2
Operating loans	2.3		2.3		1.7		3.7
Total	5.0		4.8		3.0		7.2
Receivables without specific allowance:
Retail notes	11.6		11.3				10.1
Total	$	16.6	$	16.1	$	3.0	$	17.3
Agriculture and turf	$	10.3	$	10.1	$	2.6	$	11.6
Construction and forestry	$	6.3	$	6.0	$	.4	$	5.7

*      Finance income recognized was not material.