Receivables (Tables)

12 Months Ended

Oct. 29, 2017

Retail notes

Receivables

Schedule of Receivables by Product Category

Retail notes receivable by product category at October 29, 2017 and October 30, 2016 were as follows (in millions of dollars):

	2017				2016
	Unrestricted		Securitized		Unrestricted		Securitized
Agriculture and turf – new	$	7,300.4	$	1,554.1	$	6,683.4	$	1,983.7
Agriculture and turf – used		4,179.0		2,097.4		4,093.1		2,631.1
Construction and forestry – new		1,731.3		521.6		1,669.4		544.3
Construction and forestry – used		319.5		77.0		281.6		75.6
Total		13,530.2		4,250.1		12,727.5		5,234.7
Unearned finance income		(487.9)		(77.8)		(400.5)		(93.5)
Retail notes receivable	$	13,042.3	$	4,172.3	$	12,327.0	$	5,141.2

Schedule of Receivable Installments

Gross retail note installments at October 29, 2017 and October 30, 2016 were scheduled to be received as follows (in millions of dollars):

	2017				2016
	Unrestricted		Securitized		Unrestricted		Securitized
Due in:
0-12 months	$	4,424.7	$	2,027.6	$	4,224.6	$	2,268.6
13-24 months		3,405.6		1,256.1		3,258.3		1,535.5
25-36 months		2,651.4		671.8		2,503.7		931.3
37-48 months		1,819.5		242.8		1,665.0		407.8
49-60 months		992.5		50.2		869.4		84.2
Over 60 months		236.5		1.6		206.5		7.3
Total	$	13,530.2	$	4,250.1	$	12,727.5	$	5,234.7

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 29, 2017 and October 30, 2016 were as follows (in millions of dollars):

	2017		2016
Agriculture and turf	$	408.4	$	351.2
Construction and forestry		151.7		173.3
Total		560.1		524.5
Estimated residual values		222.3		136.2
Unearned finance income		(68.2)		(55.4)
Financing leases receivable	$	714.2	$	605.3

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 29, 2017 and October 30, 2016 were scheduled as follows (in millions of dollars):

	2017		2016
Due in:
0-12 months	$	216.0	$	208.4
13-24 months		147.5		147.6
25-36 months		106.8		88.9
37-48 months		59.4		52.2
Over 48 months		30.4		27.4
Total	$	560.1	$	524.5