Securitization of Receivables (Tables)

12 Months Ended

Oct. 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 at October 30, 2022 was as follows (in millions of dollars):

	2022
Carrying value of liabilities	$	759.3
Maximum exposure to loss		842.8

Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions

The components of consolidated restricted assets, secured borrowings, and other liabilities related to secured borrowings in securitization transactions at October 30, 2022 and October 31, 2021 were as follows (in millions of dollars):

	2022		2021
Retail notes securitized	$	5,951.6	$	4,662.4
Allowance for credit losses		(15.7)		(13.5)
Other assets (primarily restricted cash)		155.2		106.6
Total restricted securitized assets	$	6,091.1	$	4,755.5
Securitization borrowings	$	5,710.9	$	4,595.2
Accrued interest on borrowings		6.1		1.7
Total liabilities related to restricted securitized assets	$	5,717.0	$	4,596.9