SECURITIZATION OF FINANCING RECEIVABLES (Tables)

12 Months Ended

Oct. 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 at October 31 in millions of dollars:

	2012
Carrying value of liabilities	$	1,004
Maximum exposure to loss	1,049

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 at October 31 were as follows in millions of dollars:

	2012			2011
Financing receivables securitized (retail notes)	$	3,635		$	2,923
Allowance for credit losses	(17		)	(18		)
Other assets	85			96
Total restricted securitized assets	$	3,703		$	3,001

The components of consolidated secured borrowings and other liabilities related to securitizations at October 31 were as follows in millions of dollars:

	2012		2011
Short-term securitization borrowings	$	3,575	$	2,777
Accrued interest on borrowings	1		2
Total liabilities related to restricted securitized assets	$	3,576	$	2,779