Other Income and Administrative and Operating Expenses (Tables)

12 Months Ended

Oct. 30, 2022

Other Income and Administrative and Operating Expenses

Schedule of major components of other income and administrative and operating expenses

The major components of other income and administrative and operating expenses were as follows (in millions of dollars):

	2022		2021		2020
Other income
Fees and interest from John Deere	$	28.5	$	25.6	$	25.5
External interest income		8.6		2.9		13.8
Operating lease disposition gains - net		66.9		65.0
Freestanding credit enhancement recoveries *		8.5		14.3
Other		23.2		13.7		19.2
Total	$	135.7	$	121.5	$	58.5
Administrative and operating expenses
Compensation and benefits	$	252.9	$	249.0	$	251.0
Operating lease disposition losses - net and impairments						53.6
Computer processing and software		55.8		52.0		47.2
Property taxes on leased assets		33.0		29.0		30.0
Foreign currency exchange losses - net		25.6		14.9		18.8
Other		72.8		61.1		70.0
Total	$	440.1	$	406.0	$	470.6

*            As a result of the adoption of ASU No. 2016-13 in 2021, recoveries from freestanding credit enhancements are recognized in other income. Prior to the adoption of ASU No. 2016-13, recoveries from freestanding credit enhancements were recorded in the provision for credit losses.