Leases (Tables)

3 Months Ended

Jan. 31, 2021

Leases

Schedule of Lease Revenues Earned

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

	Three Months Ended
	January 31, 2021		February 2, 2020
Sales-type and direct financing lease revenues	$	11.8	$	11.6
Operating lease revenues		246.6		258.5
Variable lease revenues*		5.2		4.8
Total lease revenues	$	263.6	$	274.9

*Variable lease revenues primarily relate to separately invoiced property taxes on leased equipment in certain markets and late fees.

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):

	January 31		November 1		February 2
	2021		2020		2020
Agriculture and turf	$	5,023.7	$	5,210.4	$	5,145.3
Construction and forestry		1,518.8		1,595.3		1,784.4
Total		6,542.5		6,805.7		6,929.7
Accumulated depreciation		(1,509.9)		(1,507.9)		(1,404.0)
Equipment on operating leases - net	$	5,032.6	$	5,297.8	$	5,525.7