SECURITIZATION OF FINANCING RECEIVABLES (Tables)

9 Months Ended

Jul. 31, 2012

SECURITIZATION OF FINANCING RECEIVABLES

Unconsolidated Conduits, Carrying Amount of Liabilities Compared to Maximum Exposure to Loss

The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets, was as follows in millions of dollars:

	July 31, 2012
Carrying value of liabilities	$	1,145
Maximum exposure to loss	1,213

Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions

The components of consolidated restricted assets related to secured borrowings in securitization transactions follow in millions of dollars:

	July 31 2012		October 31 2011		July 31 2011
Financing receivables securitized (retail notes)	$	3,179	$	2,923	$	2,505
Allowance for credit losses	(15)		(18)		(24)
Other assets	91		96		83
Total restricted securitized assets	$	3,255	$	3,001	$	2,564

The components of consolidated secured borrowings and other liabilities related to securitizations follow in millions of dollars:

	July 31 2012		October 31 2011		July 31 2011
Short-term securitization borrowings	$	3,028	$	2,777	$	2,381
Accrued interest on borrowings	1		2		1
Total liabilities related to restricted securitized assets	$	3,029	$	2,779	$	2,382