Subsequent Events

12 Months Ended

Oct. 31, 2016

Subsequent Events

Subsequent Events

Note 25. Subsequent Events

In December 2016, Capital Corporation paid a $140.0 million dividend to JDFS. JDFS in turn, paid a $140.0 million dividend to Deere & Company.

During the fourth quarter of 2016, the Company announced a voluntary employee separation program as part of its effort to reduce operating costs. The program provides for cash payments based on previous years of service. The expense is recorded in the period the employees accept the separation offer. The program’s total pretax expenses are estimated to be approximately $7.6 million, of which $.2 million was recorded in the fourth quarter of 2016, and approximately $7.4 million will be recorded in the first quarter of 2017. The payment for the program will be substantially made in the first quarter of 2017. The expenses will be recorded in administrative and operating expenses.