Securitization of Receivables (Tables)

12 Months Ended

Nov. 01, 2020

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 November 1, 2020 was as follows (in millions of dollars):

	2020
Carrying value of liabilities	$	1,275.1
Maximum exposure to loss		1,327.3

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 November 1, 2020 and November 3, 2019 were as follows (in millions of dollars):

	2020		2019
Retail notes securitized	$	4,689.2	$	4,349.6
Allowance for credit losses		(12.6)		(11.2)
Other assets		97.9		82.2
Total restricted securitized assets	$	4,774.5	$	4,420.6

The components of consolidated secured borrowings and other liabilities related to securitizations at November 1, 2020 and November 3, 2019 were as follows (in millions of dollars):

	2020		2019
Securitization borrowings	$	4,656.2	$	4,277.0
Accrued interest on borrowings		3.2		5.9
Total liabilities related to restricted securitized assets	$	4,659.4	$	4,282.9