LONG-TERM BORROWINGS (Tables)

12 Months Ended

Oct. 31, 2012

LONG-TERM BORROWINGS

Long-Term Borrowings

Long-term borrowings at October 31 consisted of the following in millions of dollars:

	2012			2011
Equipment Operations
Notes and debentures:
6.95% notes due 2014: ($700 principal)	$	718	*	$	736	*
4.375% notes due 2019	750			750
8-1/2% debentures due 2022	105			105
2.60% notes due 2022	1,000
6.55% debentures due 2028	200			200
5.375% notes due 2029	500			500
8.10% debentures due 2030	250			250
7.125% notes due 2031	300			300
3.90% notes due 2042	1,250
Other notes	372			326
Total		5,445			3,167
Financial Services
Notes and debentures:
Medium-term notes due 2013 — 2023: (principal $15,242 - 2012, $11,911 - 2011) Average interest rates of 1.6% — 2012, 2.0% — 2011		15,737	*		12,261	*
5.10% debentures due 2013: ($650 principal) Swapped $450 in 2011 to variable interest rate of 1.1% — 2011				679		*
2.75% senior note due 2022: ($500 principal) Swapped $500 in 2012 to variable interest rate of 1.1% — 2012	518		*
Other notes	753			853
Total	17,008			13,793
Long-term borrowings**	$	22,453		$	16,960

*Includes unamortized fair value adjustments related to interest rate swaps.

**All interest rates are as of year end.