Securitization of Receivables (Tables)

12 Months Ended

Oct. 31, 2014

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 at October 31 was as follows (in millions of dollars):

	2014
Carrying value of liabilities	$	1,267.1
Maximum exposure to loss	1,330.8

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):

	2014			2013
Retail notes securitized	$	4,615.9		$	4,167.2
Allowance for credit losses	(13.6		)	(14.1		)
Other assets	107.6			100.2
Total restricted securitized assets	$	4,709.9		$	4,253.3

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

	2014		2013
Securitization borrowings	$	4,558.5	$	4,109.1
Accounts payable and accrued expenses	1.5		1.3
Total liabilities related to restricted securitized assets	$	4,560.0	$	4,110.4