ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Oct. 31, 2014

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:

	2014		2013
Equipment Operations
Accounts payable:
Trade payables	$	1,661	$	2,174
Dividends payable	210		192
Other	208		197
Accrued expenses:
Dealer sales discounts	1,551		1,491
Employee benefits	1,350		1,408
Product warranties	809		822
Unearned revenue	355		368
Other	1,374		1,339
Total	7,518		7,991
Financial Services
Accounts payable:
Deposits withheld from dealers and merchants	196		197
Other	468		368
Accrued expenses:
Unearned revenue	647		551
Accrued interest	103		130
Employee benefits	87		86
Insurance claims reserve*	247		197
Other	279		321
Total	2,027		1,850
Eliminations**	991		867
Accounts payable and accrued expenses	$	8,554	$	8,974

*	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.