Receivables (Tables)

3 Months Ended

Jan. 29, 2017

Receivables

Age Analysis of past due Receivables that are still accruing interest and non-performing Receivables

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

	January 29, 2017
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail notes:
Agriculture and turf	$	115.1	$	60.1	$	72.3	$	247.5
Construction and forestry		66.9		40.2		27.5		134.6
Revolving charge accounts:
Agriculture and turf		32.7		12.0		2.4		47.1
Construction and forestry		2.4		1.2		.6		4.2
Wholesale receivables:
Agriculture and turf		2.6		2.9		1.6		7.1
Construction and forestry		.5				1.4		1.9
Financing leases:
Agriculture and turf		8.5		4.3		1.4		14.2
Construction and forestry		1.7		1.2		.8		3.7
Total Receivables	$	230.4	$	121.9	$	108.0	$	460.3

	Total		Total Non-				Total
	Past Due		Performing		Current		Receivables
Retail notes:
Agriculture and turf	$	247.5	$	89.8	$	13,891.2	$	14,228.5
Construction and forestry		134.6		26.7		2,340.5		2,501.8
Revolving charge accounts:
Agriculture and turf		47.1		1.5		2,296.8		2,345.4
Construction and forestry		4.2				68.6		72.8
Wholesale receivables:
Agriculture and turf		7.1		.2		5,772.0		5,779.3
Construction and forestry		1.9				980.3		982.2
Financing leases:
Agriculture and turf		14.2		8.6		374.9		397.7
Construction and forestry		3.7		2.0		160.3		166.0
Total Receivables	$	460.3	$	128.8	$	25,884.6	$	26,473.7

	October 30, 2016
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail notes:
Agriculture and turf	$	106.3	$	51.0	$	59.6	$	216.9
Construction and forestry		73.6		32.4		25.1		131.1
Revolving charge accounts:
Agriculture and turf		12.9		3.5		2.1		18.5
Construction and forestry		2.4		.7		.4		3.5
Wholesale receivables:
Agriculture and turf		5.5		1.3		1.5		8.3
Construction and forestry						1.4		1.4
Financing leases:
Agriculture and turf		8.8		4.6		3.6		17.0
Construction and forestry		2.8		1.6		.2		4.6
Total Receivables	$	212.3	$	95.1	$	93.9	$	401.3

	Total		Total Non-				Total
	Past Due		Performing		Current		Receivables
Retail notes:
Agriculture and turf	$	216.9	$	90.2	$	14,658.7	$	14,965.8
Construction and forestry		131.1		23.7		2,347.6		2,502.4
Revolving charge accounts:
Agriculture and turf		18.5		1.3		2,979.2		2,999.0
Construction and forestry		3.5				76.0		79.5
Wholesale receivables:
Agriculture and turf		8.3		.3		5,530.7		5,539.3
Construction and forestry		1.4				1,021.8		1,023.2
Financing leases:
Agriculture and turf		17.0		6.1		409.0		432.1
Construction and forestry		4.6		2.6		166.0		173.2
Total Receivables	$	401.3	$	124.2	$	27,189.0	$	27,714.5

	January 31, 2016
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail notes:
Agriculture and turf	$	130.4	$	56.4	$	62.7	$	249.5
Construction and forestry		66.8		31.5		28.1		126.4
Revolving charge accounts:
Agriculture and turf		25.2		10.3		1.9		37.4
Construction and forestry		2.2		1.2		.5		3.9
Wholesale receivables:
Agriculture and turf		4.5		1.2		1.6		7.3
Construction and forestry		.5				1.4		1.9
Financing leases:
Agriculture and turf		6.9		4.7		1.3		12.9
Construction and forestry		2.5		.9		.8		4.2
Total Receivables	$	239.0	$	106.2	$	98.3	$	443.5

	Total		Total Non-				Total
	Past Due		Performing		Current		Receivables
Retail notes:
Agriculture and turf	$	249.5	$	51.7	$	15,080.7	$	15,381.9
Construction and forestry		126.4		15.5		2,353.3		2,495.2
Revolving charge accounts:
Agriculture and turf		37.4		1.8		2,002.9		2,042.1
Construction and forestry		3.9				66.1		70.0
Wholesale receivables:
Agriculture and turf		7.3		9.5		6,273.5		6,290.3
Construction and forestry		1.9				1,009.0		1,010.9
Financing leases:
Agriculture and turf		12.9		9.5		322.0		344.4
Construction and forestry		4.2		3.0		167.0		174.2
Total Receivables	$	443.5	$	91.0	$	27,274.5	$	27,809.0

Analysis of the Allowance for Credit Losses and Investment in Receivables

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

	Three Months Ended
	January 29, 2017
			Revolving
	Retail		Charge		Wholesale		Financing		Total
	Notes		Accounts		Receivables		Leases		Receivables
Allowance:
Beginning of period balance	$	56.3	$	39.7	$	7.2	$	8.5	$	111.7
Provision (credit) for credit losses		4.9		(2.2)				1.0		3.7
Write-offs		(7.4)		(3.1)		(.1)		(1.1)		(11.7)
Recoveries		.9		5.3				.1		6.3
Translation adjustments						(.1)				(.1)
End of period balance	$	54.7	$	39.7	$	7.0	$	8.5	$	109.9
Balance individually evaluated *	$	.6					$	.2	$	.8
Receivables:
End of period balance	$	16,730.3	$	2,418.2	$	6,761.5	$	563.7	$	26,473.7
Balance individually evaluated *	$	43.3	$	4.5	$	1.9	$	.6	$	50.3

	Three Months Ended
	January 31, 2016
			Revolving
	Retail		Charge		Wholesale		Financing		Total
	Notes		Accounts		Receivables		Leases		Receivables
Allowance:
Beginning of period balance	$	53.3	$	39.7	$	8.1	$	8.7	$	109.8
Provision for credit losses		5.4		1.7				.3		7.4
Write-offs		(6.3)		(6.2)						(12.5)
Recoveries		1.1		4.5						5.6
Translation adjustments		(.3)						(.2)		(.5)
End of period balance	$	53.2	$	39.7	$	8.1	$	8.8	$	109.8
Balance individually evaluated *					$	1.0	$	.2	$	1.2
Receivables:
End of period balance	$	17,877.1	$	2,112.1	$	7,301.2	$	518.6	$	27,809.0
Balance individually evaluated *	$	20.0	$	2.7	$	10.1	$	.9	$	33.7

*    Remainder is collectively evaluated.

Analysis of Impaired Receivables

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

			Unpaid				Average
	Recorded		Principal		Specific		Recorded
	Investment		Balance		Allowance		Investment
January 29, 2017 *
Receivables with specific allowance:
Retail notes	$	5.1	$	5.0	$	.6	$	5.1
Financing leases		.5		.4		.2		.4
Total with specific allowance		5.6		5.4		.8		5.5
Receivables without specific allowance:
Retail notes		10.2		10.1				11.2
Wholesale receivables		.2		.2				.2
Total without specific allowance		10.4		10.3				11.4
Total	$	16.0	$	15.7	$	.8	$	16.9
Agriculture and turf	$	9.5	$	9.4	$	.3	$	10.1
Construction and forestry		6.5		6.3		.5		6.8
Total	$	16.0	$	15.7	$	.8	$	16.9
October 30, 2016 *
Receivables with specific allowance:
Retail notes	$	10.2	$	9.9	$	2.3	$	10.6
Wholesale receivables		.3		.3		.2		1.5
Financing leases		.4		.3		.1		.4
Total with specific allowance		10.9		10.5		2.6		12.5
Receivables without specific allowance:
Retail notes		9.5		9.4				10.6
Wholesale receivables		.2		.2				.3
Total without specific allowance		9.7		9.6				10.9
Total	$	20.6	$	20.1	$	2.6	$	23.4
Agriculture and turf	$	11.9	$	11.6	$	1.9	$	10.2
Construction and forestry		8.7		8.5		.7		13.2
Total	$	20.6	$	20.1	$	2.6	$	23.4
January 31, 2016 *
Receivables with specific allowance:
Wholesale receivables	$	9.0	$	9.0	$	1.0	$	9.0
Financing leases		.9		.8		.2		.9
Total with specific allowance		9.9		9.8		1.2		9.9
Receivables without specific allowance:
Retail notes		8.4		8.3				8.5
Wholesale receivables		.5		.5				.6
Total without specific allowance		8.9		8.8				9.1
Total	$	18.8	$	18.6	$	1.2	$	19.0
Agriculture and turf	$	15.1	$	14.9	$	1.0	$	15.2
Construction and forestry		3.7		3.7		.2		3.8
Total	$	18.8	$	18.6	$	1.2	$	19.0

*    Finance income recognized was not material.