Securitization of Receivables (Tables)

9 Months Ended

Jul. 31, 2013

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):

	July 31 2013
Carrying value of liabilities	$	1,387
Maximum exposure to loss	1,471

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 were as follows (in millions of dollars):

	July 31 2013			October 31 2012			July 31 2012
Retail notes securitized	$	3,903.1		$	3,635.3		$	3,179.1
Allowance for credit losses	(12.6		)	(17.7		)	(15.5		)
Other assets	95.1			85.6			91.6
Total restricted securitized assets	$	3,985.6		$	3,703.2		$	3,255.2

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

	July 31 2013		October 31 2012		July 31 2012
Securitization borrowings	$	3,780.1	$	3,574.8	$	3,028.0
Accounts payable and accrued expenses	.9		1.3		1.2
Total liabilities related to restricted securitized assets	$	3,781.0	$	3,576.1	$	3,029.2