ACCOUNTS PAYABLE AND ACCRUED EXPENSES

12 Months Ended

Oct. 29, 2017

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

19. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses at October 29, 2017 and October 30, 2016 consisted of the following in millions of dollars:

	2017		2016
Equipment Operations
Accounts payable:
Trade payables	$	2,069	$	1,598
Dividends payable		194		189
Other		164		193
Accrued expenses:
Dealer sales discounts		1,559		1,371
Product warranties		1,007		779
Employee benefits		861		861
Unearned revenue		520		401
Other		1,344		1,269
Total		7,718		6,661
Financial Services
Accounts payable:
Deposits withheld from dealers and merchants		207		230
Other		275		268
Accrued expenses:
Unearned revenue		797		735
Accrued interest		148		125
Employee benefits		55		52
Other		345		185
Total		1,827		1,595
Eliminations*		1,128		1,016
Accounts payable and accrued expenses	$	8,417	$	7,240

*    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.