FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Apr. 30, 2012

FAIR VALUE MEASUREMENTS

Fair Value Of Financial Instruments

	April 30, 2012				October 31, 2011				April 30, 2011
	Carrying Value		Fair Value *		Carrying Value		Fair Value		Carrying Value		Fair Value
Financing receivables - net	$	19,453	$	19,496	$	19,924	$	19,919	$	18,455	$	18,432
Financing receivables securitized - net	3,116		3,124		2,905		2,907		2,871		2,872
Short-term securitization borrowings	3,033		3,041		2,777		2,789		2,822		2,833
Long-term borrowings due within one year:
Equipment operations	$	223	$	218	$	244	$	233	$	67	$	68
Financial services	5,321		5,388		5,249		5,331		4,620		4,695
Total	$	5,544	$	5,606	$	5,493	$	5,564	$	4,687	$	4,763
Long-term borrowings:
Equipment operations	$	3,175	$	3,962	$	3,167	$	3,771	$	3,361	$	3,688
Financial services	15,544		15,885		13,793		14,154		12,831		13,230
Total	$	18,719	$	19,847	$	16,960	$	17,925	$	16,192	$	16,918

*Fair value measurements above were Level 3 for all financing receivables and Level 2 for all borrowings.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

	April 30		October 31		April 30
	2012*		2011*		2011*
Marketable securities
U.S. government debt securities	$	1,086	$	576	$	66
Municipal debt securities	38		36		29
Corporate debt securities	101		89		71
Residential mortgage-backed securities **	114		86		73
Other debt securities					1
Total marketable securities	1,339		787		240
Other assets
Derivatives:
Interest rate contracts	518		471		321
Foreign exchange contracts	7		12		10
Cross-currency interest rate contracts	9		2		14
Total assets ***	$	1,873	$	1,272	$	585
Accounts payable and accrued expenses
Derivatives:
Interest rate contracts	$	53	$	61	$	31
Foreign exchange contracts	41		100		98
Cross-currency interest rate contracts	43		7		8
Total liabilities	$	137	$	168	$	137

*All measurements above were Level 2 measurements except for Level 1 measurements of U.S. government debt securities of $1,041 million, $540 million and $36 million at April 30, 2012, October 31, 2011 and April 30, 2011, respectively.  There were no transfers between Level 1 and Level 2 during the first six months of 2012 or 2011.

**Primarily issued by U.S. government sponsored enterprises.

***Excluded from this table are the Company’s cash and cash equivalents, which are carried at cost that approximates fair value.  The cash and cash equivalents consist primarily of money market funds.

Schedule of Contractual Maturities of Marketable Securities

	Amortized Cost			Fair Value
Due in one year or less		$	614		$	614
Due after one through five years		460			465
Due after five through 10 years		77			84
Due after 10 years		56			62
Residential mortgage-backed securities		109			114
Debt securities		$	1,316		$	1,339

Assets Measured at Fair Value on a Nonrecurring Basis

	Fair Value *						Losses
							Six Months Ended
	April 30		October 31		April 30		April 30
	2012		2011		2011		2012	2011
Financing receivables	$	1	$	5	$	4		$	1

*Does not include cost to sell.