Leases (Tables)

3 Months Ended

Jan. 30, 2022

Leases

Schedule of Lease Revenues Earned

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

	Three Months Ended
	January 30		January 31
	2022		2021
Sales-type and direct financing lease revenues	$	13.0	$	11.8
Operating lease revenues		223.1		246.6
Variable lease revenues		6.2		7.4
Total lease revenues	$	242.3	$	265.8

Variable lease revenues reported above primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees. Excess use and damage fees of $.8 million and $2.2 million for the three months ended January 30, 2022 and January 31, 2021, respectively, were reported in other income on the statement of consolidated income.

Schedule of Cost of Equipment on Operating Leases by Market

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

	January 30		October 31		January 31
	2022		2021		2021
Agriculture and turf	$	4,903.2	$	5,053.4	$	5,023.7
Construction and forestry		1,244.3		1,323.6		1,518.8
Total		6,147.5		6,377.0		6,542.5
Accumulated depreciation		(1,401.9)		(1,429.4)		(1,509.9)
Equipment on operating leases - net	$	4,745.6	$	4,947.6	$	5,032.6