Receivables (Tables)

12 Months Ended

Oct. 31, 2014

Retail notes

Receivables

Schedule of Receivables by Product Category

Retail notes receivable by product category at October 31 were as follows (in millions of dollars):

	2014						2013
	Unrestricted			Securitized			Unrestricted			Securitized
Agriculture and turf equipment — new	$	7,951.6		$	1,606.0		$	7,798.0		$	1,466.4
Agriculture and turf equipment — used	5,649.5			2,368.6			5,440.0			2,135.8
Construction and forestry equipment — new	1,395.5			610.3			1,003.6			509.1
Construction and forestry equipment — used	224.6			86.9			175.3			98.1
Total	15,221.2			4,671.8			14,416.9			4,209.4
Unearned finance income	(375.8		)	(55.9		)	(337.6		)	(42.2		)
Retail notes receivable	$	14,845.4		$	4,615.9		$	14,079.3		$	4,167.2

Schedule of Receivable Installments

Gross retail note installments at October 31 were scheduled to be received as follows (in millions of dollars):

	2014				2013
	Unrestricted		Securitized		Unrestricted		Securitized
Due in:
0-12 months	$	4,716.1	$	1,878.5	$	4,457.7	$	1,663.4
13-24 months	3,753.8		1,330.7		3,507.4		1,176.6
25-36 months	3,070.5		880.1		2,849.8		808.2
37-48 months	2,215.7		456.7		2,088.2		421.9
49-60 months	1,243.0		120.0		1,283.7		130.4
Over 60 months	222.1		5.8		230.1		8.9
Total	$	15,221.2	$	4,671.8	$	14,416.9	$	4,209.4

Schedule of Guidelines Relating to Down Payment Requirements and Contract Terms

Company guidelines relating to down payment requirements and contract terms on retail notes are generally as follows:

	Down Payment	Contract Terms
Agriculture and turf equipment (new and used):
Seasonal payments	10% - 30%	3-7 years
Monthly payments	10% - 20%	36-84 months
Construction and forestry equipment:
New	10%	48-60 months
Used	15%	36-48 months

Financing leases

Receivables

Schedule of Receivables by Product Category

Financing leases receivable by product category at October 31 were as follows (in millions of dollars):

	2014			2013
Agriculture and turf equipment	$	387.0		$	393.2
Construction and forestry equipment	170.8			154.1
Total	557.8			547.3
Estimated residual values	92.2			72.2
Unearned finance income	(60.4		)	(64.2		)
Financing leases receivable	$	589.6		$	555.3

Schedule of Receivable Installments

Initial lease terms for financing leases generally range from 4 months to 60 months. Payments on financing leases receivable at October 31 were scheduled as follows (in millions of dollars):

	2014		2013
Due in:
0-12 months	$	231.5	$	223.9
13-24 months	145.4		149.7
25-36 months	98.2		92.2
37-48 months	55.4		52.5
Over 48 months	27.3		29.0
Total	$	557.8	$	547.3