Receivables (Tables)

12 Months Ended

Oct. 31, 2016

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):

	2016				2015
	Unrestricted		Securitized		Unrestricted		Securitized
Agriculture and turf – new	$	6,683.4	$	1,983.7	$	7,221.9	$	1,786.5
Agriculture and turf – used		4,093.1		2,631.1		5,126.9		2,449.4
Construction and forestry – new		1,669.4		544.3		1,603.1		600.2
Construction and forestry – used		281.6		75.6		241.8		86.0
Total		12,727.5		5,234.7		14,193.7		4,922.1
Unearned finance income		(400.5)		(93.5)		(383.1)		(73.7)
Retail notes receivable	$	12,327.0	$	5,141.2	$	13,810.6	$	4,848.4

Schedule of Receivable Installments

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

	2016				2015
	Unrestricted		Securitized		Unrestricted		Securitized
Due in:
0-12 months	$	4,224.6	$	2,268.6	$	4,568.6	$	2,057.1
13-24 months		3,258.3		1,535.5		3,606.8		1,417.5
25-36 months		2,503.7		931.3		2,873.6		921.4
37-48 months		1,665.0		407.8		1,944.6		425.9
49-60 months		869.4		84.2		1,007.8		94.9
Over 60 months		206.5		7.3		192.3		5.3
Total	$	12,727.5	$	5,234.7	$	14,193.7	$	4,922.1

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	Contract
	Payment	Terms
Agriculture and turf (new and used):
Seasonal payments	10% - 30%	3 - 7 years
Monthly payments	10% - 20%	36 - 84 months
Construction and forestry:
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):

	2016		2015
Agriculture and turf	$	351.2	$	338.9
Construction and forestry		173.3		184.2
Total		524.5		523.1
Estimated residual values		136.2		95.1
Unearned finance income		(55.4)		(51.1)
Financing leases receivable	$	605.3	$	567.1

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):

	2016		2015
Due in:
0-12 months	$	208.4	$	206.6
13-24 months		147.6		145.0
25-36 months		88.9		95.4
37-48 months		52.2		48.5
Over 48 months		27.4		27.6
Total	$	524.5	$	523.1