ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Oct. 31, 2016

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at October 31 consisted of the following in millions of dollars:

	2016		2015
Equipment Operations
Accounts payable:
Trade payables	$	1,598	$	1,435
Dividends payable		189		193
Other		193		186
Accrued expenses:
Dealer sales discounts		1,371		1,423
Employee benefits		861		1,122
Product warranties		779		807
Unearned revenue		401		379
Other		1,269		1,256
Total		6,661		6,801
Financial Services
Accounts payable:
Deposits withheld from dealers and merchants		230		179
Other		268		258
Accrued expenses:
Unearned revenue		735		671
Accrued interest		125		111
Employee benefits		52		71
Other		185		221
Total		1,595		1,511
Eliminations*		1,016		1,001
Accounts payable and accrued expenses	$	7,240	$	7,311

*    Primarily trade receivable valuation accounts which are reclassified as accrued expenses by the equipment operations as a result of their trade receivables being sold to financial services.