Fair Value Measurements (Tables)

9 Months Ended

Jul. 29, 2018

The fair values of financial instruments that do not approximate the carrying values were as follows (in millions of dollars):


	July 29, 2018				October 29, 2017				July 30, 2017
	Carrying		Fair		Carrying		Fair		Carrying		Fair
	Value		Value *		Value		Value *		Value		Value *
Receivables financed – net	$	26,200.2	$	26,016.4	$	24,123.1	$	24,016.0	$	23,543.2	$	23,458.2
Retail notes securitized – net		4,571.4		4,517.4		4,158.8		4,129.6		4,922.9		4,891.7
Securitization borrowings		4,437.5		4,425.9		4,118.7		4,118.4		4,780.9		4,786.4
Current maturities of long-term borrowings		5,111.3		5,111.4		5,056.9		5,080.6		4,272.7		4,296.2
Long-term borrowings		18,591.5		18,704.3		17,534.4		17,763.6		16,679.7		16,910.6

* Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value as Level 2 measurements on a recurring basis were as follows (in millions of dollars):


	July 29		October 29		July 30
	2018		2017		2017
Receivables from John Deere
Derivatives:
Interest rate contracts	$	53.3	$	85.4	$	108.8
Cross-currency interest rate contracts		2.4		5.6		3.9
Other assets
Derivatives:
Interest rate contracts		.7		8.1		14.0
Foreign exchange contracts		11.2		24.6		2.0
Total derivative assets *	$	67.6	$	123.7	$	128.7

Other payables to John Deere
Derivatives:
Interest rate contracts	$	329.5	$	125.6	$	76.0
Cross-currency interest rate contracts		1.6		.9		3.8
Accounts payable and accrued expenses
Derivatives:
Foreign exchange contracts		5.6		6.0		35.1
Total derivative liabilities	$	336.7	$	132.5	$	114.9

* Excluded from this table were the Company’s cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of time deposits and money market funds.