Fair Value Measurements (Tables)

3 Months Ended

Jan. 31, 2013

Fair Value Measurements

Fair Value of Financial Instruments

	The fair values of financial instruments that do not approximate the carrying values were as follows (in millions of dollars):
		January 31, 2013		October 31, 2012		January 31, 2012
		Carrying Value	Fair Value *	Carrying Value	Fair Value *	Carrying Value	Fair Value
Receivables financed – net		$ 21,915	$ 21,900	$ 21,472	$ 21,455	$ 18,655	$ 18,648
Retail notes securitized – net		3,033	3,032	3,618	3,615	2,681	2,679
Securitization borrowings		3,044	3,050	3,575	3,584	2,614	2,624
Current maturities of long-term borrowings		3,616	3,690	3,913	3,947	5,503	5,553
Long-term borrowings		14,370	14,518	14,770	15,048	11,321	11,641
	*  Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value as Level 2 measurements on a recurring basis were as follows (in millions of dollars):
		January 31,		October 31,		January 31,
		2013		2012		2012
	Receivables from John Deere
	Derivatives:
	Interest rate contracts	$	322.2	$	355.8	$	264.2
	Cross-currency interest rate contracts	5.2		9.9		6.3
	Other assets
	Derivatives:
	Interest rate contracts	206.4		227.6		265.4
	Foreign exchange contracts	6.2		1.9		1.4
	Cross-currency interest rate contracts			.3		1.2
	Total assets *	$	540.0	$	595.5	$	538.5
	Other payables to John Deere
	Derivatives:
	Interest rate contracts	$	29.6	$	25.3	$	8.5
	Cross-currency interest rate contracts	2.2		2.9		2.3
	Accounts payable and accrued expenses
	Derivatives:
	Interest rate contracts	40.9		41.3		45.0
	Foreign exchange contracts	11.2		5.4		37.5
	Cross-currency interest rate contracts	30.3		56.4		42.9
	Total liabilities	$	114.2	$	131.3	$	136.2
	* Excluded from this table are the Company’s cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of money market funds that were Level 1 measurements.

Fair Value, Nonrecurring, Level 3 Measurements

Fair value, nonrecurring, Level 3 measurements were as follows (in millions of dollars):

	Fair Value *						Losses
							Three Months Ended
	January 31,		October 31,		January 31,		January 31
	2013		2012		2012		2013	2012
Receivables:
Retail notes					$	.3
Wholesale receivables	$	.1	$	.1	4.1			$	.1
Total Receivables	$	.1	$	.1	$	4.4		$	.1

* Does not include cost to sell.