Securitization of Receivables (Tables)

12 Months Ended

Oct. 29, 2017

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 at October 29 was as follows (in millions of dollars):

	2017
Carrying value of liabilities	$	1,096.3
Maximum exposure to loss		1,155.1

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

	2017		2016
Retail notes securitized	$	4,172.3	$	5,141.2
Allowance for credit losses		(13.5)		(14.7)
Other assets		105.2		115.7
Total restricted securitized assets	$	4,264.0	$	5,242.2

The components of consolidated secured borrowings and other liabilities related to securitizations at October 29, 2017 and October 30, 2016 were as follows (in millions of dollars):

	2017		2016
Securitization borrowings	$	4,118.7	$	4,997.8
Accrued interest on borrowings		2.8		2.6
Total liabilities related to restricted securitized assets	$	4,121.5	$	5,000.4