Securitization of Receivables (Tables)

12 Months Ended

Oct. 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):

	2013
Carrying value of liabilities	$	1,225
Maximum exposure to loss	1,274

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):

	2013			2012
Retail notes securitized	$	4,167.2		$	3,635.3
Allowance for credit losses	(14.1		)	(17.7		)
Other assets	100.2			85.6
Total restricted securitized assets	$	4,253.3		$	3,703.2

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

	2013		2012
Securitization borrowings	$	4,109.1	$	3,574.8
Accounts payable and accrued expenses	1.3		1.3
Total liabilities related to restricted securitized assets	$	4,110.4	$	3,576.1