Leases (Tables)

3 Months Ended

Jan. 29, 2023

Leases

Schedule of Lease Revenues Earned

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

	Three Months Ended
	January 29		January 30
	2023		2022
Sales-type and direct financing lease revenues	$	18.8	$	13.0
Operating lease revenues		217.1		223.1
Variable lease revenues		5.6		6.2
Total lease revenues	$	241.5	$	242.3

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 are reported in other income on the statements of consolidated income and were $.8 million in the first quarter of both 2023 and 2022.

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 29		October 30		January 30
	2023		2022		2022
Agriculture and turf	$	4,893.6	$	5,017.3	$	4,903.2
Construction and forestry		1,084.9		1,138.0		1,244.3
Total		5,978.5		6,155.3		6,147.5
Accumulated depreciation		(1,285.1)		(1,301.8)		(1,401.9)
Equipment on operating leases - net	$	4,693.4	$	4,853.5	$	4,745.6