Leases (Tables)

12 Months Ended

Nov. 01, 2020

Leases

Schedule of Lease Revenues Earned

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

	2020
Sales-type and direct financing lease revenues	$	46.0
Operating lease revenues		1,022.5
Variable lease revenues		20.4
Total lease revenues	$	1,088.9

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

Sales-type and direct financing lease receivables by product category at November 1, 2020 and November 3, 2019 were as follows (in millions of dollars):

	2020		2019
Agriculture and turf	$	447.5	$	422.7
Construction and forestry		152.7		153.2
Total		600.2		575.9
Guaranteed residual values		240.8		195.1
Unguaranteed residual values		32.6		61.1
Unearned finance income		(84.2)		(80.5)
Financing leases receivable	$	789.4	$	751.6

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

Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at November 1, 2020 were as follows (in millions of dollars):

	2020
Due in:
2021	$	415.0
2022		186.6
2023		122.7
2024		71.9
2025		34.6
Later years		10.2
Total	$	841.0

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):

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

	2020		2019
Agriculture and turf	$	5,210.4	$	5,109.4
Construction and forestry		1,595.3		1,778.6
Total		6,805.7		6,888.0
Accumulated depreciation		(1,507.9)		(1,357.5)
Equipment on operating leases - net	$	5,297.8	$	5,530.5

Schedule of Lease Payments for Equipment on Operating Leases

Lease payments for equipment on operating leases at November 1, 2020 were scheduled as follows (in millions of dollars):

	2020
Due in:
2021	$	744.1
2022		472.4
2023		231.0
2024		97.7
2025		16.3
Later years		2.3
Total	$	1,563.8

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):

	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