Leases (Tables)

3 Months Ended

Jan. 28, 2024

Leases

Schedule of Lease Revenues Earned

Lease revenues earned by us were as follows:

	Three Months Ended
	January 28		January 29
	2024		2023
Sales-type and direct financing lease revenues	$	27.0	$	18.8
Operating lease revenues		234.2		218.9
Variable lease revenues		4.0		5.6
Total lease revenues	$	265.2	$	243.3

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” and were $.4 and $.8 for the first quarter of 2024 and 2023, respectively.

Schedule of Cost of Equipment on Operating Leases by Market

The cost of equipment on operating leases by market was as follows:

	January 28		October 29		January 29
	2024		2023		2023
Agriculture and turf	$	5,198.3	$	5,265.2	$	4,893.6
Construction and forestry		1,005.7		1,042.4		1,084.9
Total		6,204.0		6,307.6		5,978.5
Accumulated depreciation		(1,270.6)		(1,256.1)		(1,285.1)
Equipment on operating leases – net	$	4,933.4	$	5,051.5	$	4,693.4