SECURITIZATION OF FINANCING RECEIVABLES (Tables)

6 Months Ended

Apr. 30, 2015

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 in millions of dollars:

	April 30, 2015
Carrying value of liabilities	$	1,480
Maximum exposure to loss		1,545

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 follow in millions of dollars:

	April 30 2015			October 31 2014			April 30 2014
Financing receivables securitized (retail notes)	$	4,755		$	4,616		$	4,355
Allowance for credit losses	(14		)	(14		)	(10		)
Other assets	115			108			115
Total restricted securitized assets	$	4,856		$	4,710		$	4,460

The components of consolidated secured borrowings and other liabilities related to securitizations follow in millions of dollars:

	April 30 2015		October 31 2014		April 30 2014
Short-term securitization borrowings	$	4,703	$	4,559	$	4,330
Accrued interest on borrowings	2		1		1
Total liabilities related to restricted securitized assets	$	4,705	$	4,560	$	4,331