(4) Past due balances of Receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date.

The Company monitors the credit quality of Receivables as either performing or non-performing monthly. Non-performing Receivables represent loans for which the Company has ceased accruing finance income. Generally, when retail notes are approximately 120 days delinquent, accrual of finance income is suspended, the collateral is repossessed or the account is designated for litigation and the estimated uncollectible amount, after charging the dealer’s withholding account, if any, is written off to the allowance for credit losses. Revolving charge accounts are generally deemed to be uncollectible and written off to the allowance for credit losses when delinquency reaches 120 days. Generally, when a wholesale receivable becomes 60 days delinquent, the Company determines whether the accrual of finance income on interest-bearing wholesale receivables should be suspended, the collateral should be repossessed or the account should be designated for litigation and the estimated uncollectible amount written off to the allowance for credit losses. Generally, when a financing lease account becomes 120 days delinquent, the accrual of lease revenue is suspended, the equipment is repossessed or the account is designated for litigation, and the estimated uncollectible amount, after charging the dealer’s withholding account, if any, is written off to the allowance for credit losses. Finance income for non-performing Receivables is recognized on a cash basis. Accrual of finance income is resumed when the receivable becomes contractually current and collections are reasonably assured.

An aging of past due Receivables that are still accruing interest and non-performing Receivables was as follows (in millions of dollars):

	January 31, 2014
	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	$	93.3	$	33.3	$	21.8	$	148.4
Construction and forestry equipment	50.2		19.4		9.9		79.5
Revolving charge accounts:
Agriculture and turf equipment	19.9		5.0		1.7		26.6
Construction and forestry equipment	4.0		1.3		.5		5.8
Wholesale receivables:
Agriculture and turf equipment	11.1		5.2		6.3		22.6
Construction and forestry equipment	.2		.2		.2		.6
Financing leases:
Agriculture and turf equipment	4.4		3.9		1.4		9.7
Construction and forestry equipment	2.9		.4		.4		3.7
Operating loans:
Agriculture and turf equipment
Total Receivables	$	186.0	$	68.7	$	42.2	$	296.9

		Total Past Due	Total Non- Performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	148.4	$	42.0	$	16,251.1	$	16,441.5
Construction and forestry equipment	79.5		14.1		1,787.2		1,880.8
Revolving charge accounts:
Agriculture and turf equipment	26.6		1.0		1,665.0		1,692.6
Construction and forestry equipment	5.8		.1		61.5		67.4
Wholesale receivables:
Agriculture and turf equipment	22.6		.5		6,795.4		6,818.5
Construction and forestry equipment	.6				819.2		819.8
Financing leases:
Agriculture and turf equipment	9.7		11.4		353.2		374.3
Construction and forestry equipment	3.7		.9		151.0		155.6
Operating loans:
Agriculture and turf equipment					25.3		25.3
Total Receivables	$	296.9	$	70.0	$	27,908.9	$	28,275.8

	October 31, 2013
	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	$	67.8	$	23.3	$	17.1	$	108.2
Construction and forestry equipment	38.4		14.4		8.6		61.4
Revolving charge accounts:
Agriculture and turf equipment	14.6		4.5		2.2		21.3
Construction and forestry equipment	2.3		1.0		.5		3.8
Wholesale receivables:
Agriculture and turf equipment	10.0		4.9		3.0		17.9
Construction and forestry equipment	.3		.1		.9		1.3
Financing leases:
Agriculture and turf equipment	10.2		4.0		2.3		16.5
Construction and forestry equipment	2.2		.5				2.7
Operating loans:
Agriculture and turf equipment	.1						.1
Total Receivables	$	145.9	$	52.7	$	34.6	$	233.2

	Total Past Due		Total Non- Performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	108.2	$	34.1	$	16,359.3	$	16,501.6
Construction and forestry equipment	61.4		11.4		1,672.1		1,744.9
Revolving charge accounts:
Agriculture and turf equipment	21.3		.9		2,438.0		2,460.2
Construction and forestry equipment	3.8				70.9		74.7
Wholesale receivables:
Agriculture and turf equipment	17.9		.3		6,541.1		6,559.3
Construction and forestry equipment	1.3				904.1		905.4
Financing leases:
Agriculture and turf equipment	16.5		11.0		379.0		406.5
Construction and forestry equipment	2.7		2.0		144.1		148.8
Operating loans:
Agriculture and turf equipment	.1		.3		31.5		31.9
Total Receivables	$	233.2	$	60.0	$	28,540.1	$	28,833.3

	January 31, 2013
	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	$	71.1	$	20.4	$	14.2	$	105.7
Construction and forestry equipment	39.8		16.7		8.1		64.6
Revolving charge accounts:
Agriculture and turf equipment	14.8		4.4		1.6		20.8
Construction and forestry equipment	2.1		.8		.6		3.5
Wholesale receivables:
Agriculture and turf equipment	2.6		2.0		5.1		9.7
Construction and forestry equipment	5.5				.1		5.6
Financing leases:
Agriculture and turf equipment	6.3		2.0		.6		8.9
Construction and forestry equipment	2.0		.4		.1		2.5
Operating loans:
Agriculture and turf equipment			.1				.1
Total Receivables	$	144.2	$	46.8	$	30.4	$	221.4

	Total Past Due		Total Non- Performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	105.7	$	37.0	$	14,235.4	$	14,378.1
Construction and forestry equipment	64.6		13.3		1,400.8		1,478.7
Revolving charge accounts:
Agriculture and turf equipment	20.8		.7		1,674.3		1,695.8
Construction and forestry equipment	3.5				56.0		59.5
Wholesale receivables:
Agriculture and turf equipment	9.7		.4		5,956.6		5,966.7
Construction and forestry equipment	5.6				919.1		924.7
Financing leases:
Agriculture and turf equipment	8.9		9.1		354.4		372.4
Construction and forestry equipment	2.5		1.0		141.5		145.0
Operating loans:
Agriculture and turf equipment	.1		.1		40.6		40.8
Total Receivables	$	221.4	$	61.6	$	24,778.7	$	25,061.7

Allowances for credit losses on Receivables are maintained in amounts considered to be appropriate in relation to the Receivables outstanding based on historical loss experience by product category, portfolio duration, delinquency trends, economic conditions and credit risk quality.

An analysis of the allowance for credit losses and investment in Receivables was as follows (in millions of dollars):

	Retail Notes			Revolving Charge Accounts			Wholesale Receivables		Other			Total Receivables
January 31, 2014
Allowance:
Beginning of period balance	$	50.7		$	39.7		$	6.4	$	14.6		$	111.4
Provision for credit losses	1.0			1.1					.2			2.3
Write-offs	(2.3		)	(4.5		)			(.3		)	(7.1		)
Recoveries	1.4			3.4								4.8
Other changes (primarily translation adjustments)	(.4		)									(.4		)
End of period balance	$	50.4		$	39.7		$	6.4	$	14.5		$	111.0
Balance individually evaluated *							$	.1	$	3.7		$	3.8

Receivables:
End of period balance	$	18,322.3		$	1,760.0		$	7,638.3	$	555.2		$	28,275.8
Balance individually evaluated *	$	14.0		$	.2		$	.3	$	25.5		$	40.0

January 31, 2013
Allowance:
Beginning of period balance	$	56.4		$	40.2		$	5.9	$	11.5		$	114.0
Provision (credit) for credit losses	1.0			(.2		)	.1		(.2		)	.7
Write-offs	(2.9		)	(4.2		)			(.4		)	(7.5		)
Recoveries	1.9			4.0					.2			6.1
Other changes (primarily translation adjustments)	.1			(.1		)	.1					.1
End of period balance	$	56.5		$	39.7		$	6.1	$	11.1		$	113.4
Balance individually evaluated *							$	.1				$	.1

Receivables:
End of period balance	$	15,856.8		$	1,755.3		$	6,891.4	$	558.2		$	25,061.7
Balance individually evaluated *	$	11.1		$	.6		$	.2				$	11.9

* Remainder is collectively evaluated.

Receivables are considered impaired when it is probable the Company will be unable to collect all amounts due according to the contractual terms. Receivables reviewed for impairment generally include those that are either past due, or have provided bankruptcy notification, or require significant collection efforts. Receivables that are impaired are generally classified as non-performing.

An analysis of impaired Receivables was as follows (in millions of dollars):

	Recorded Investment		Unpaid Principal Balance		Specific Allowance		Average Recorded Investment
January 31, 2014 *
Receivables with specific allowance:
Wholesale receivables	$	.1	$	.1	$	.1	$	.1
Operating loans	17.7		17.7		3.7		18.0
Total with specific allowance	17.8		17.8		3.8		18.1

Receivables without specific allowance:
Retail notes	6.5		6.3				6.9
Total without specific allowance	6.5		6.3				6.9
Total	$	24.3	$	24.1	$	3.8	$	25.0

Agriculture and turf	$	22.4	$	22.2	$	3.8	$	23.0
Construction and forestry	1.9		1.9				2.0
Total	$	24.3	$	24.1	$	3.8	$	25.0

October 31, 2013 *
Receivables with specific allowance:
Wholesale receivables	$	.1	$	.1	$	.1	$	.2
Operating loans	18.0		17.9		3.7		18.8
Total with specific allowance	18.1		18.0		3.8		19.0

Receivables without specific allowance:
Retail notes	7.2		7.1				8.0
Total without specific allowance	7.2		7.1				8.0
Total	$	25.3	$	25.1	$	3.8	$	27.0

Agriculture and turf	$	23.2	$	23.0	$	3.8	$	24.6
Construction and forestry	2.1		2.1				2.4
Total	$	25.3	$	25.1	$	3.8	$	27.0

January 31, 2013 *
Receivables with specific allowance:
Wholesale receivables	$	.2	$	.2	$	.1	$	.2
Total with specific allowance	.2		.2		.1		.2

Receivables without specific allowance:
Retail notes	8.5		8.3				8.5
Total without specific allowance	8.5		8.3				8.5
Total	$	8.7	$	8.5	$	.1	$	8.7

Agriculture and turf	$	6.1	$	5.9	$	.1	$	6.1
Construction and forestry	2.6		2.6				2.6
Total	$	8.7	$	8.5	$	.1	$	8.7

* Finance income recognized was not material.

A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity dates, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest. During the first quarter of 2014, the Company identified six Receivable contracts, primarily retail notes, as troubled debt restructurings with aggregate balances of $.2 million pre-modification and $.2 million post-modification balances. During the first quarter of 2013, there were 26 contracts, primarily retail notes, with $1.3 million pre-modification and $1.1 million post-modification balances. During these same periods, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At January 31, 2014, the Company had no commitments to lend additional funds to borrowers whose accounts were modified in troubled debt restructurings.