FINANCING RECEIVABLES (Tables)

6 Months Ended

Apr. 30, 2013

FINANCING RECEIVABLES

Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables

An age analysis of past due financing receivables that are still accruing interest and non-performing financing receivables in millions of dollars follows:

	April 30, 2013
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due
Retail Notes:
Agriculture and turf	$	60	$	25	$	19	$	104
Construction and forestry	44		17		5		66
Other:
Agriculture and turf	22		10		7		39
Construction and forestry	8		4		4		16
Total	$	134	$	56	$	35	$	225
	Total Past Due		Total Non-Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	104	$	106	$	16,973	$	17,183
Construction and forestry	66		11		1,666		1,743
Other:
Agriculture and turf	39		10		6,543		6,592
Construction and forestry	16		4		1,171		1,191
Total	$	225	$	131	$	26,353	26,709
Less allowance for credit losses							176
Total financing receivables - net							$	26,533

	October 31, 2012
	30-59 Days Past Due		60-89 Days  Past Due		90 Days or Greater Past Due		Total Past Due
Retail Notes:
Agriculture and turf	$	60	$	25	$	17	$	102
Construction and forestry	39		18		9		66
Other:
Agriculture and turf	21		6		3		30
Construction and forestry	8		2		2		12
Total	$	128	$	51	$	31	$	210
	Total Past Due		Total Non- Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	102	$	117	$	16,432	$	16,651
Construction and forestry	66		13		1,521		1,600
Other:
Agriculture and turf	30		11		6,464		6,505
Construction and forestry	12		3		1,183		1,198
Total	$	210	$	144	$	25,600	25,954
Less allowance for credit losses							177
Total financing receivables - net							$	25,777

	April 30, 2012
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due
Retail Notes:
Agriculture and turf	$	63	$	34	$	22	$	119
Construction and forestry	35		19		9		63
Other:
Agriculture and turf	20		14		9		43
Construction and forestry	9		4		1		14
Total	$	127	$	71	$	41	$	239
	Total  Past Due		Total  Non- Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	119	$	113	$	14,837	$	15,069
Construction and forestry	63		14		1,360		1,437
Other:
Agriculture and turf	43		11		5,184		5,238
Construction and forestry	14		3		1,000		1,017
Total	$	239	$	141	$	22,381	22,761
Less allowance for credit losses							192
Total financing receivables - net							$	22,569

Analysis of the Allowance for Credit Losses and Investment in Financing Receivables

An analysis of the allowance for credit losses and investment in financing receivables in millions of dollars follows:

	Three Months Ended April 30, 2013
	Retail Notes			Revolving Charge Accounts		Other		Total
Allowance:
Beginning of period balance	$	108		$	40	$	27	$	175
Provision	(3)			1		4		2
Write-offs	(3)			(4)		(1)		(8)
Recoveries	3			4				7
End of period balance	$	105		$	41	$	30	$	176
	Six Months Ended April 30, 2013
Allowance:
Beginning of period balance	$		110	$	40	$	27	$	177
Provision	(3)			1		4		2
Write-offs	(7)			(9)		(1)		(17)
Recoveries	5			9				14
End of period balance	$		105	$	41	$	30	$	176
Balance individually evaluated *						$	4	$	4
Financing receivables:
End of period balance	$		18,926	$	2,250	$	5,533	$	26,709
Balance individually evaluated *	$		17			$	39	$	56

*  Remainder is collectively evaluated.

	Three Months Ended April 30, 2012
	Retail Notes		Revolving Charge Accounts		Other		Total
Allowance:
Beginning of period balance	$	129	$	40	$	26	$	195
Provision	2		2		1		5
Write-offs	(2)		(7)		(2)		(11)
Recoveries	2		6				8
Translation adjustments	(5)						(5)
End of period balance	$	126	$	41	$	25	$	192
	Six Months Ended April 30, 2012
Allowance:
Beginning of period balance	$	130	$	40	$	27	$	197
Provision	2		3		1		6
Write-offs	(4)		(14)		(3)		(21)
Recoveries	4		12				16
Translation adjustments	(6)						(6)
End of period balance	$	126	$	41	$	25	$	192
Financing receivables:
End of period balance	$	16,505	$	2,358	$	3,898	$	22,761
Balance individually evaluated *	$	10	$	1	$	4	$	15

* Remainder is collectively evaluated.  The allowance, which was individually evaluated, was not significant at the period end.

Analysis of the Impaired Financing Receivables

An analysis of the impaired financing receivables in millions of dollars follows:

	Recorded Investment		Unpaid Principal Balance		Specific Allowance		Average Recorded Investment
April 30, 2013 *
Receivables with specific allowance **	$	19	$	19	$	4	$	20
Receivables without a specific allowance ***	9		9				9
Total	$	28	$	28	$	4	$	29
Agriculture and turf	$	24	$	24	$	4	$	25
Construction and forestry	$	4	$	4			$	4
October 31, 2012 *
Receivables with specific allowance ***	$	1	$	1	$	1	$	1
Receivables without a specific allowance ***	9		9				10
Total	$	10	$	10	$	1	$	11
Agriculture and turf	$	6	$	6	$	1	$	6
Construction and forestry	$	4	$	4			$	5
April 30, 2012 *
Receivables with specific allowance ***	$	1	$	1			$	1
Receivables without a specific allowance ***	9		9				9
Total	$	10	$	10			$	10
Agriculture and turf	$	6	$	6			$	5
Construction and forestry	$	4	$	4			$	5

*             Finance income recognized was not material.

**           Primarily operating loans and retail notes.

***         Primarily retail notes.