Receivables (Tables)

6 Months Ended

Apr. 30, 2015

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

	April 30, 2015
	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	$	95.9	$	48.2	$	42.2	$	186.3
Construction and forestry equipment	52.4		23.7		12.0		88.1
Revolving charge accounts:
Agriculture and turf equipment	12.4		8.6		19.0		40.0
Construction and forestry equipment	2.9		.7		.4		4.0
Wholesale receivables:
Agriculture and turf equipment	2.9		1.6		2.0		6.5
Construction and forestry equipment	1.5				1.4		2.9
Financing leases:
Agriculture and turf equipment	14.0		2.9		.3		17.2
Construction and forestry equipment	1.4		1.8		.1		3.3
Total Receivables	$	183.4	$	87.5	$	77.4	$	348.3

	Total Past Due		Total Non- Performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	186.3	$	42.6	$	15,856.3	$	16,085.2
Construction and forestry equipment	88.1		16.4		2,262.6		2,367.1
Revolving charge accounts:
Agriculture and turf equipment	40.0		1.2		2,175.8		2,217.0
Construction and forestry equipment	4.0				69.7		73.7
Wholesale receivables:
Agriculture and turf equipment	6.5		.4		7,558.2		7,565.1
Construction and forestry equipment	2.9				1,288.2		1,291.1
Financing leases:
Agriculture and turf equipment	17.2		13.1		333.4		363.7
Construction and forestry equipment	3.3		4.3		163.9		171.5
Total Receivables	$	348.3	$	78.0	$	29,708.1	$	30,134.4

	October 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	$	85.0	$	30.8	$	24.0	$	139.8
Construction and forestry equipment	53.6		15.6		7.0		76.2
Revolving charge accounts:
Agriculture and turf equipment	11.3		3.7		.9		15.9
Construction and forestry equipment	2.4		1.2		.3		3.9
Wholesale receivables:
Agriculture and turf equipment	4.1		3.4		4.5		12.0
Construction and forestry equipment	.2				1.5		1.7
Financing leases:
Agriculture and turf equipment	7.5		5.1		.6		13.2
Construction and forestry equipment	2.5		.8		.2		3.5
Total Receivables	$	166.6	$	60.6	$	39.0	$	266.2

	Total Past Due		Total Non- Performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	139.8	$	41.8	$	17,023.9	$	17,205.5
Construction and forestry equipment	76.2		14.3		2,165.3		2,255.8
Revolving charge accounts:
Agriculture and turf equipment	15.9		1.1		2,437.0		2,454.0
Construction and forestry equipment	3.9		.1		77.9		81.9
Wholesale receivables:
Agriculture and turf equipment	12.0		1.1		6,961.0		6,974.1
Construction and forestry equipment	1.7				943.3		945.0
Financing leases:
Agriculture and turf equipment	13.2		11.5		396.0		420.7
Construction and forestry equipment	3.5		1.3		164.1		168.9
Total Receivables	$	266.2	$	71.2	$	30,168.5	$	30,505.9

	April 30, 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	$	80.1	$	26.2	$	24.1	$	130.4
Construction and forestry equipment	56.5		18.2		11.3		86.0
Revolving charge accounts:
Agriculture and turf equipment	11.4		6.6		16.1		34.1
Construction and forestry equipment	3.6		1.3		.5		5.4
Wholesale receivables:
Agriculture and turf equipment	3.2		.9		5.4		9.5
Construction and forestry equipment	1.7				.4		2.1
Financing leases:
Agriculture and turf equipment	8.6		3.1		.8		12.5
Construction and forestry equipment	4.0		.8		.3		5.1
Operating loans:
Agriculture and turf equipment
Total Receivables	$	169.1	$	57.1	$	58.9	$	285.1

	Total Past Due		Total Non- Performing		Current		Total Receivables
Retail notes:
Agriculture and turf equipment	$	130.4	$	40.0	$	16,249.7	$	16,420.1
Construction and forestry equipment	86.0		13.6		1,862.6		1,962.2
Revolving charge accounts:
Agriculture and turf equipment	34.1		2.2		2,048.6		2,084.9
Construction and forestry equipment	5.4				68.1		73.5
Wholesale receivables:
Agriculture and turf equipment	9.5		.2		8,248.5		8,258.2
Construction and forestry equipment	2.1				998.3		1,000.4
Financing leases:
Agriculture and turf equipment	12.5		13.0		365.7		391.2
Construction and forestry equipment	5.1		1.8		150.3		157.2
Operating loans:
Agriculture and turf equipment					9.9		9.9
Total Receivables	$	285.1	$	70.8	$	30,001.7	$	30,357.6

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

	Three Months Ended April 30, 2015
	Retail Notes		Revolving Charge Accounts		Wholesale Receivables		Other		Total Receivables
Allowance:
Beginning of period balance	$	55.5	$	39.9	$	7.3	$	8.8	$	111.5
Provision (credit) for credit losses	3.7		7.7		(.5)		.3		11.2
Write-offs	(5.0)		(11.2)				(.6)		(16.8)
Recoveries	1.6		3.5		.4				5.5
Other changes (primarily translation adjustments)	(.1)						(.1)		(.2)
End of period balance	$	55.7	$	39.9	$	7.2	$	8.4	$	111.2

	Six Months Ended
	April 30, 2015
Allowance:
Beginning of period balance	$	56.1	$	39.9	$	7.6	$	8.8	$	112.4
Provision (credit) for credit losses	4.6		7.5		(.4)		.4		12.1
Write-offs	(7.4)		(14.8)		(.2)		(.5)		(22.9)
Recoveries	3.0		7.3		.4				10.7
Other changes (primarily translation adjustments)	(.6)				(.2)		(.3)		(1.1)
End of period balance	$	55.7	$	39.9	$	7.2	$	8.4	$	111.2
Balance individually evaluated *	$	1.7	$	.2	$	.1			$	2.0

Receivables:
End of period balance	$	18,452.3	$	2,290.7	$	8,856.2	$	535.2	$	30,134.4
Balance individually evaluated *	$	19.1	$	.2	$	2.7			$	22.0

* Remainder is collectively evaluated.

	Three Months Ended
	April 30, 2014
	Retail Notes		Revolving Charge Accounts		Wholesale Receivables		Other		Total Receivables
Allowance:
Beginning of period balance	$	50.4	$	39.7	$	6.4	$	14.5	$	111.0
Provision (credit) for credit losses	6.6		2.2		.3		(4.5)		4.6
Write-offs	(4.8)		(5.7)		(.2)		(.1)		(10.8)
Recoveries	1.1		3.5				.1		4.7
Other changes (primarily translation adjustments)	.1				.1				.2
End of period balance	$	53.4	$	39.7	$	6.6	$	10.0	$	109.7

	Six Months Ended
	April 30, 2014
Allowance:
Beginning of period balance	$	50.7	$	39.7	$	6.4	$	14.6	$	111.4
Provision (credit) for credit losses	7.6		3.3		.3		(4.3)		6.9
Write-offs	(7.1)		(10.2)		(.2)		(.4)		(17.9)
Recoveries	2.4		6.9		.1		.1		9.5
Other changes (primarily translation adjustments)	(.2)								(.2)
End of period balance	$	53.4	$	39.7	$	6.6	$	10.0	$	109.7
Balance individually evaluated *					$	.1	$	1.8	$	1.9

Receivables:
End of period balance	$	18,382.3	$	2,158.4	$	9,258.6	$	558.3	$	30,357.6
Balance individually evaluated *	$	21.3	$	2.8	$	.3	$	10.9	$	35.3

* Remainder is collectively evaluated.

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

	Recorded Investment		Unpaid Principal Balance		Specific Allowance		Average Recorded Investment
April 30, 2015 *
Receivables with specific allowance:
Retail notes	$	2.8	$	2.7	$	1.7	$	5.2
Revolving charge accounts	.2		.2		.2		.2
Wholesale receivables	.1		.1		.1		.1
Total with specific allowance	3.1		3.0		2.0		5.5

Receivables without specific allowance:
Retail notes	11.4		11.2				11.9
Total without specific allowance	11.4		11.2				11.9
Total	$	14.5	$	14.2	$	2.0	$	17.4

Agriculture and turf	$	8.6	$	8.3	$	2.0	$	11.4
Construction and forestry	5.9		5.9				6.0
Total	$	14.5	$	14.2	$	2.0	$	17.4

October 31, 2014 *
Receivables with specific allowance:
Retail notes	$	7.0	$	6.9	$	1.7	$	8.4
Revolving charge accounts	.2		.2		.2		.2
Wholesale receivables	.1		.1		.1		.1
Total with specific allowance	7.3		7.2		2.0		8.7

Receivables without specific allowance:
Retail notes	5.9		5.7				6.1
Total without specific allowance	5.9		5.7				6.1
Total	$	13.2	$	12.9	$	2.0	$	14.8

Agriculture and turf	$	11.7	$	11.4	$	2.0	$	13.0
Construction and forestry	1.5		1.5				1.8
Total	$	13.2	$	12.9	$	2.0	$	14.8

April 30, 2014 *
Receivables with specific allowance:
Wholesale receivables	$	.1	$	.1	$	.1	$	.1
Operating loans	9.9		9.8		1.8		11.4
Total with specific allowance	10.0		9.9		1.9		11.5

Receivables without specific allowance:
Retail notes	5.6		5.5				6.4
Total without specific allowance	5.6		5.5				6.4
Total	$	15.6	$	15.4	$	1.9	$	17.9

Agriculture and turf	$	13.8	$	13.6	$	1.9	$	16.0
Construction and forestry	1.8		1.8				1.9
Total	$	15.6	$	15.4	$	1.9	$	17.9

* Finance income recognized was not material.