SECURITIZATION OF FINANCING RECEIVABLES (Tables)

12 Months Ended

Oct. 31, 2014

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:

	2014
Carrying value of liabilities	$	1,267
Maximum exposure to loss	1,331

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:

	2014		2013
Financing receivables securitized (retail notes)	$	4,616	$	4,167
Allowance for credit losses	(14)		(14)
Other assets	108		100
Total restricted securitized assets	$	4,710	$	4,253

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

	2014		2013
Short-term securitization borrowings	$	4,559	$	4,109
Accrued interest on borrowings	1		1
Total liabilities related to restricted securitized assets	$	4,560	$	4,110