Securitization of Receivables (Tables)

9 Months Ended

Jul. 31, 2016

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):

	July 31
	2016
Carrying value of liabilities	$	1,940.2
Maximum exposure to loss		2,112.7

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 were as follows (in millions of dollars):

	July 31		October 31		July 31
	2016		2015		2015
Retail notes securitized	$	5,961.4	$	4,848.4	$	4,751.0
Allowance for credit losses		(14.0)		(13.8)		(13.2)
Other assets		129.2		109.4		108.0
Total restricted securitized assets	$	6,076.6	$	4,944.0	$	4,845.8

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

	July 31		October 31		July 31
	2016		2015		2015
Securitization borrowings	$	5,728.9	$	4,590.0	$	4,595.4
Accrued interest on borrowings		2.7		2.1		2.1
Total liabilities related to restricted securitized assets	$	5,731.6	$	4,592.1	$	4,597.5