Securitization of Receivables (Tables)

12 Months Ended

Oct. 31, 2012

Securitization of Receivables

Unconsolidated Conduits, Carrying Amount of Liabilities Compared to Maximum Exposure to Loss

The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets was as follows (in millions of dollars):

	2012
Carrying value of liabilities	$	1,004
Maximum exposure to loss	1,049

Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions

The components of consolidated restricted assets related to secured borrowings in securitization transactions at October 31 were as follows (in millions of dollars):

	2012			2011
Retail notes securitized	$	3,635.3		$	2,923.2
Allowance for credit losses	(17.7		)	(18.2		)
Other assets	85.6			96.3
Total restricted securitized assets	$	3,703.2		$	3,001.3

The components of consolidated secured borrowings and other liabilities related to securitizations at October 31 were as follows (in millions of dollars):

	2012		2011
Securitization borrowings	$	3,574.8	$	2,777.4
Accounts payable and accrued expenses	1.3		1.4
Total liabilities related to restricted securitized assets	$	3,576.1	$	2,778.8