FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 31, 2014

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:

	January 31, 2014
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due
Retail Notes:
Agriculture and turf	$	103	$	39	$	26	$	168
Construction and forestry	51		19		10		80
Other:
Agriculture and turf	28		10		4		42
Construction and forestry	12		4		3		19
Total	$	194	$	72	$	43	$	309

	Total Past Due		Total Non- Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	168	$	106	$	18,802	$	19,076
Construction and forestry	80		14		2,017		2,111
Other:
Agriculture and turf	42		13		6,614		6,669
Construction and forestry	19		3		1,022		1,044
Total	$	309	$	136	$	28,455	28,900
Less allowance for credit losses							167
Total financing receivables - net							$	28,733

	October 31, 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	$	75	$	26	$	20	$	121
Construction and forestry	39		14		9		62
Other:
Agriculture and turf	28		9		5		42
Construction and forestry	12		4		3		19
Total	$	154	$	53	$	37	$	244

	Total Past Due		Total Non- Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	121	$	102	$	18,942	$	19,165
Construction and forestry	62		12		1,921		1,995
Other:
Agriculture and turf	42		13		7,613		7,668
Construction and forestry	19		3		1,109		1,131
Total	$	244	$	130	$	29,585	29,959
Less allowance for credit losses							173
Total financing receivables - net							$		29,786

	January 31, 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	$	77	$	25	$	19	$	121
Construction and forestry	40		17		9		66
Other:
Agriculture and turf	23		7		3		33
Construction and forestry	11		3		1		15
Total	$	151	$	52	$	32	$	235

	Total Past Due		Total Non- Performing		Current		Total Financing Receivables
Retail Notes:
Agriculture and turf	$	121	$	112	$	16,546	$	16,779
Construction and forestry	66		14		1,591		1,671
Other:
Agriculture and turf	33		10		5,675		5,718
Construction and forestry	15		2		1,094		1,111
Total	$	235	$	138	$	24,906	25,279
Less allowance for  credit losses							175
Total financing  receivables - net							$	25,104

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 during the periods follows:

	Retail Notes		Revolving Charge Accounts		Other		Total
January 31, 2014
Allowance:
Beginning of period balance	$	101	$	41	$	31	$	173
Provision	1		1				2
Write-offs	(3)		(5)				(8)
Recoveries	2		3				5
Translation adjustments	(4)				(1)		(5)
End of period balance *	$	97	$	40	$	30	$	167
Financing receivables:
End of period balance	$	21,187	$	1,801	$	5,912	$	28,900
Balance individually evaluated	$	14			$	26	$	40
January 31, 2013
Allowance:
Beginning of period balance	$	110	$	40	$	27	$	177
Provision	1						1
Write-offs	(5)		(4)				(9)
Recoveries	2		4				6
End of period balance *	$	108	$	40	$	27	$	175
Financing receivables:
End of period balance	$	18,450	$	1,799	$	5,030	$	25,279
Balance individually evaluated	$	11	$	1	$	1	$	13

*      Individual allowances were not significant.

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
January 31, 2014 *
Receivables with specific allowance ****	$	18	$	18	$	4	$	18
Receivables without a specific allowance ***	7		6				7
Total	$	25	$	24	$	4	$	25
Agriculture and turf	$	22	$	22	$	4	$	23
Construction and forestry	$	3	$	2			$	2
October 31, 2013 *
Receivables with specific allowance **	$	18	$	18	$	4	$	19
Receivables without a specific allowance ***	8		8				8
Total	$	26	$	26	$	4	$	27
Agriculture and turf	$	23	$	23	$	4	$	24
Construction and forestry	$	3	$	3			$	3
January 31, 2013 *
Receivables with specific allowance ***	$	1	$	1			$	1
Receivables without a specific allowance ***	9		9				9
Total	$	10	$	10			$	10
Agriculture and turf	$	6	$	6			$	6
Construction and forestry	$	4	$	4			$	4

* Finance income recognized was not material.

** Primarily operating loans and retail notes.

*** Primarily retail notes.

**** Primarily operating loans.