Receivables (Tables)

12 Months Ended

Oct. 28, 2018

Retail notes

Receivables

Schedule of Receivables by Product Category

Retail notes receivable by product category at October 28, 2018 and October 29, 2017 were as follows (in millions of dollars):

	2018				2017
	Unrestricted		Securitized		Unrestricted		Securitized
Agriculture and turf – new	$	8,202.8	$	1,438.8	$	7,300.4	$	1,554.1
Agriculture and turf – used		4,095.8		2,001.8		4,179.0		2,097.4
Construction and forestry – new		2,084.9		518.3		1,731.3		521.6
Construction and forestry – used		359.5		79.0		319.5		77.0
Total		14,743.0		4,037.9		13,530.2		4,250.1
Unearned finance income		(587.0)		(83.0)		(487.9)		(77.8)
Retail notes receivable	$	14,156.0	$	3,954.9	$	13,042.3	$	4,172.3

Schedule of Receivable Installments

Gross retail note installments at October 28, 2018 and October 29, 2017 were scheduled to be received as follows (in millions of dollars):

	2018				2017
	Unrestricted		Securitized		Unrestricted		Securitized
Due in:
0-12 months	$	4,801.2	$	1,886.0	$	4,424.7	$	2,027.6
13-24 months		3,679.8		1,140.2		3,405.6		1,256.1
25-36 months		2,887.3		637.9		2,651.4		671.8
37-48 months		1,994.9		307.2		1,819.5		242.8
49-60 months		1,106.1		64.4		992.5		50.2
Over 60 months		273.7		2.2		236.5		1.6
Total	$	14,743.0	$	4,037.9	$	13,530.2	$	4,250.1

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 28, 2018 and October 29, 2017 were as follows (in millions of dollars):

	2018		2017
Agriculture and turf	$	423.0	$	408.4
Construction and forestry		150.6		151.7
Total		573.6		560.1
Estimated residual values		272.9		222.3
Unearned finance income		(75.9)		(68.2)
Financing leases receivable	$	770.6	$	714.2

Schedule of Receivable Installments

Initial lease terms for financing leases generally range from 4 months to 72 months. Payments on financing leases receivable at October 28, 2018 and October 29, 2017 were scheduled as follows (in millions of dollars):

	2018		2017
Due in:
0-12 months	$	217.4	$	216.0
13-24 months		157.4		147.5
25-36 months		113.2		106.8
37-48 months		53.3		59.4
Over 48 months		32.3		30.4
Total	$	573.6	$	560.1