ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Oct. 31, 2013

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at October 31 consisted of the following in millions of dollars:

	2013		2012
Equipment Operations
Accounts payable:
Trade payables	$	2,174	$	2,287
Dividends payable	192		179
Other	197		147
Accrued expenses:
Dealer sales discounts	1,491		1,413
Employee benefits	1,408		1,337
Product warranties	822		733
Unearned revenue	368		282
Other	1,339		1,301
Total	7,991		7,679
Financial Services
Accounts payable:
Deposits withheld from dealers and merchants	197		194
Other	368		505
Accrued expenses:
Unearned revenue	551		452
Accrued interest	130		160
Employee benefits	86		69
Insurance claims reserve*	197		449
Other	321		301
Total	1,850		2,130
Eliminations**	867		820
Accounts payable and accrued expenses	$	8,974	$	8,989

*	See Note 9.
**	Primarily trade receivable valuation accounts which are reclassified as accrued expenses by the equipment operations as a result of their trade receivables being sold to financial services.