Leases (Tables)

9 Months Ended

Aug. 02, 2020

Leases

Schedule of Lease Revenues Earned

Lease revenues earned by the Company were as follows (in millions of dollars):

	Three Months Ended		Nine Months Ended
	August 2, 2020		August 2, 2020
Sales-type and direct financing lease revenues	$	12.0	$	34.3
Operating lease revenues		253.5		768.8
Variable lease revenues		4.8		14.7
Total lease revenues	$	270.3	$	817.8

Schedule of Sales-type and Direct Financing Lease Receivables by Product Category

Sales-type and direct financing lease receivables by product category were as follows (in millions of dollars):

	August 2		November 3
	2020		2019
Agriculture and turf	$	434.3	$	422.7
Construction and forestry		148.3		153.2
Total		582.6		575.9
Guaranteed residual values		203.1		195.1
Unguaranteed residual values		42.6		61.1
Unearned finance income		(84.7)		(80.5)
Financing leases receivable	$	743.6	$	751.6

Schedule of Scheduled Payments, Including Guaranteed Residual Values, on Sales-type and Direct Financing Leases Receivables

Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at August 2, 2020 were as follows (in millions of dollars):

	August 2
	2020
Due in:
Remainder of 2020	$	110.7
2021		320.5
2022		157.0
2023		104.3
2024		62.1
2025		23.8
Later years		7.3
Total	$	785.7

Schedule of Finance Lease Scheduled Payments under the Previous Lease Standard

Scheduled payments on financing lease receivables under the previous lease standard at November 3, 2019 were as follows (in millions of dollars):

	November 3
	2019
Due in:
2020	$	225.6
2021		155.2
2022		103.8
2023		58.3
2024		24.2
Later years		8.8
Total	$	575.9

Schedule of Cost of Equipment on Operating Leases by Product Category

The cost of equipment on operating leases by product category was as follows (in millions of dollars):

	August 2		November 3
	2020		2019
Agriculture and turf	$	5,082.8	$	5,109.4
Construction and forestry		1,648.3		1,778.6
Total		6,731.1		6,888.0
Accumulated depreciation		(1,473.9)		(1,357.5)
Equipment on operating leases - net	$	5,257.2	$	5,530.5

Schedule of Lease Payments for Equipment on Operating Leases

Lease payments for equipment on operating leases at August 2, 2020 were scheduled as follows (in millions of dollars):

	August 2
	2020
Due in:
Remainder of 2020	$	216.5
2021		684.7
2022		405.1
2023		182.1
2024		69.8
2025		6.8
Later years		.8
Total	$	1,565.8

Schedule of Rental Payments for Equipment on Operating Leases under the Previous Lease Standard

Rental payments for equipment on operating leases under the previous lease standard at November 3, 2019 were scheduled as follows (in millions of dollars):

	November 3
	2019
Due in:
2020	$	738.3
2021		484.4
2022		231.6
2023		92.8
2024		14.1
Later years		.3
Total	$	1,561.5