Receivables (Tables)

3 Months Ended

Jan. 28, 2018

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 28, 2018
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail notes:
Agriculture and turf	$	130.3	$	41.6	$	52.8	$	224.7
Construction and forestry		76.4		37.2		35.9		149.5
Revolving charge accounts:
Agriculture and turf		37.2		9.7		2.0		48.9
Construction and forestry		3.9		1.3		.7		5.9
Wholesale receivables:
Agriculture and turf		3.4		3.8		4.1		11.3
Construction and forestry		1.1		.2				1.3
Financing leases:
Agriculture and turf		8.9		8.0		2.5		19.4
Construction and forestry		1.3		1.1		.7		3.1
Total Receivables	$	262.5	$	102.9	$	98.7	$	464.1

	Total		Total Non-				Total
	Past Due		Performing		Current		Receivables
Retail notes:
Agriculture and turf	$	224.7	$	65.5	$	13,993.3	$	14,283.5
Construction and forestry		149.5		27.8		2,478.0		2,655.3
Revolving charge accounts:
Agriculture and turf		48.9		1.2		2,476.2		2,526.3
Construction and forestry		5.9				73.9		79.8
Wholesale receivables:
Agriculture and turf		11.3		9.2		6,245.7		6,266.2
Construction and forestry		1.3				1,415.8		1,417.1
Financing leases:
Agriculture and turf		19.4		6.5		487.1		513.0
Construction and forestry		3.1		1.1		144.7		148.9
Total Receivables	$	464.1	$	111.3	$	27,314.7	$	27,890.1

	October 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	$	106.2	$	48.3	$	45.3	$	199.8
Construction and forestry		73.0		31.9		39.2		144.1
Revolving charge accounts:
Agriculture and turf		15.4		5.6		2.3		23.3
Construction and forestry		2.9		1.1		.3		4.3
Wholesale receivables:
Agriculture and turf		4.5		1.6		2.4		8.5
Construction and forestry		.1		.1		.1		.3
Financing leases:
Agriculture and turf		8.9		7.5		3.6		20.0
Construction and forestry		.5		1.1		.1		1.7
Total Receivables	$	211.5	$	97.2	$	93.3	$	402.0

	Total		Total Non-				Total
	Past Due		Performing		Current		Receivables
Retail notes:
Agriculture and turf	$	199.8	$	63.1	$	14,379.9	$	14,642.8
Construction and forestry		144.1		24.2		2,403.5		2,571.8
Revolving charge accounts:
Agriculture and turf		23.3		1.8		3,458.7		3,483.8
Construction and forestry		4.3				84.5		88.8
Wholesale receivables:
Agriculture and turf		8.5		10.8		5,469.6		5,488.9
Construction and forestry		.3				1,405.1		1,405.4
Financing leases:
Agriculture and turf		20.0		6.2		541.3		567.5
Construction and forestry		1.7		1.7		143.3		146.7
Total Receivables	$	402.0	$	107.8	$	27,885.9	$	28,395.7

	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

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 28, 2018
			Revolving
	Retail		Charge		Wholesale		Financing		Total
	Notes		Accounts		Receivables		Leases		Receivables
Allowance:
Beginning of period balance	$	55.7	$	39.7	$	9.9	$	8.5	$	113.8
Provision (credit) for credit losses		2.4		(.4)				.8		2.8
Write-offs		(5.2)		(4.6)				(.9)		(10.7)
Recoveries		2.6		5.0				.1		7.7
Translation adjustments		.3				.3		(.1)		.5
End of period balance	$	55.8	$	39.7	$	10.2	$	8.4	$	114.1
Balance individually evaluated *					$	2.7			$	2.7
Receivables:
End of period balance	$	16,938.8	$	2,606.1	$	7,683.3	$	661.9	$	27,890.1
Balance individually evaluated *	$	58.9	$	2.1	$	19.3	$	.1	$	80.4

	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

*    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 28, 2018 *
Receivables with specific allowance:
Wholesale receivables	$	8.2	$	8.2	$	2.7	$	9.6
Total with specific allowance		8.2		8.2		2.7		9.6
Receivables without specific allowance:
Retail notes		22.9		22.6				20.5
Wholesale receivables		5.3		5.3				6.5
Total without specific allowance		28.2		27.9				27.0
Total	$	36.4	$	36.1	$	2.7	$	36.6
Agriculture and turf	$	30.1	$	29.8	$	2.7	$	30.9
Construction and forestry		6.3		6.3				5.7
Total	$	36.4	$	36.1	$	2.7	$	36.6
October 29, 2017 *
Receivables with specific allowance:
Retail notes	$	2.2	$	2.1	$	.6	$	2.2
Wholesale receivables		11.7		11.7		2.6		11.0
Total with specific allowance		13.9		13.8		3.2		13.2
Receivables without specific allowance:
Retail notes		18.3		18.0				14.0
Wholesale receivables		9.0		9.0				2.3
Total without specific allowance		27.3		27.0				16.3
Total	$	41.2	$	40.8	$	3.2	$	29.5
Agriculture and turf	$	36.0	$	35.6	$	3.2	$	23.9
Construction and forestry		5.2		5.2				5.6
Total	$	41.2	$	40.8	$	3.2	$	29.5
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

*    Finance income recognized was not material.