Securitization of Receivables (Tables)

3 Months Ended

Jan. 30, 2022

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, was as follows (in millions of dollars):

	January 30
	2022
Carrying value of liabilities	$	719.7
Maximum exposure to loss		767.0

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 were as follows (in millions of dollars):

	January 30		October 31		January 31
	2022		2021		2021
Retail notes securitized	$	3,517.9	$	4,662.4	$	3,928.0
Allowance for credit losses		(10.1)		(13.5)		(14.7)
Other assets		100.3		106.6		94.4
Total restricted securitized assets	$	3,608.1	$	4,755.5	$	4,007.7

The components of consolidated secured borrowings and other liabilities related to securitizations were as follows (in millions of dollars):

	January 30		October 31		January 31
	2022		2021		2021
Securitization borrowings	$	3,473.8	$	4,595.2	$	3,951.5
Accrued interest on borrowings		1.2		1.7		2.4
Total liabilities related to restricted securitized assets	$	3,475.0	$	4,596.9	$	3,953.9