(10) Past due balances of financing receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date. Non-performing financing receivables represent loans for which the Company has ceased accruing finance income. These receivables are generally 120 days delinquent and the estimated uncollectible amount, after charging the dealer’s withholding account, if any, has been written off to the allowance for credit losses. Finance income for non-performing receivables is recognized on a cash basis. Accrual of finance income is generally resumed when the receivable becomes contractually current and collections are reasonably assured.

An age analysis of past due financing receivables that are still accruing interest and non-performing financing receivables in millions of dollars follows:


	July 31, 2015
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail Notes:
Agriculture and turf	$	108	$	44	$	54	$	206
Construction and forestry		65		20		14		99
Other:
Agriculture and turf		20		12		7		39
Construction and forestry		10		4		4		18
Total	$	203	$	80	$	79	$	362

							Total
	Total		Total				Financing
	Past Due		Non-Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	206	$	112	$	18,354	$	18,672
Construction and forestry		99		20		2,538		2,657
Other:
Agriculture and turf		39		12		7,453		7,504
Construction and forestry		18		8		1,009		1,035
Total	$	362	$	152	$	29,354		29,868
Less allowance for credit losses								157
Total financing receivables - net							$	29,711


	October 31, 2014
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail Notes:
Agriculture and turf	$	93	$	34	$	28	$	155
Construction and forestry		54		16		7		77
Other:
Agriculture and turf		23		12		2		37
Construction and forestry		12		3		4		19
Total	$	182	$	65	$	41	$	288

							Total
	Total		Total				Financing
	Past Due		Non-Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	155	$	107	$	19,966	$	20,228
Construction and forestry		77		17		2,462		2,556
Other:
Agriculture and turf		37		15		8,208		8,260
Construction and forestry		19		2		1,134		1,155
Total	$	288	$	141	$	31,770		32,199
Less allowance for credit losses								175
Total financing receivables - net							$	32,024


	July 31, 2014
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail Notes:
Agriculture and turf	$	99	$	38	$	30	$	167
Construction and forestry		61		20		12		93
Other:
Agriculture and turf		22		10		8		40
Construction and forestry		15		5		2		22
Total	$	197	$	73	$	52	$	322

							Total
	Total		Total				Financing
	Past Due		Non-Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	167	$	117	$	19,458	$	19,742
Construction and forestry		93		18		2,237		2,348
Other:
Agriculture and turf		40		85		8,169		8,294
Construction and forestry		22		6		1,112		1,140
Total	$	322	$	226	$	30,976		31,524
Less allowance for credit losses								180
Total financing receivables - net							$	31,344

An analysis of the allowance for credit losses and investment in financing receivables in millions of dollars during the periods follows:


	Three Months Ended July 31, 2015
			Revolving
	Retail		Charge
	Notes		Accounts		Other		Total
Allowance:
Beginning of period balance	$	99	$	41	$	23	$	163
Provision		4		14		1		19
Write-offs		(8)		(18)		(1)		(27)
Recoveries		3		4				7
Translation adjustments		(4)				(1)		(5)
End of period balance *	$	94	$	41	$	22	$	157

	Nine Months Ended July 31, 2015
Allowance:
Beginning of period balance	$	109	$	41	$	25	$	175
Provision		9		22		2		33
Write-offs		(17)		(34)		(2)		(53)
Recoveries		7		12		1		20
Translation adjustments		(14)				(4)		(18)
End of period balance *	$	94	$	41	$	22	$	157
Financing receivables:
End of period balance	$	21,329	$	2,680	$	5,859	$	29,868
Balance individually evaluated **	$	19	$	3	$	9	$	31


	Three Months Ended July 31, 2014
			Revolving
	Retail		Charge
	Notes		Accounts		Other		Total
Allowance:
Beginning of period balance	$	105	$	40	$	26	$	171
Provision		2		7		7		16
Write-offs		(4)		(10)		(1)		(15)
Recoveries		3		4		1		8
End of period balance *	$	106	$	41	$	33	$	180

	Nine Months Ended July 31, 2014
Allowance:
Beginning of period balance	$	101	$	41	$	31	$	173
Provision		10		10		3		23
Write-offs		(12)		(21)		(1)		(34)
Recoveries		8		11				19
Translation adjustments		(1)						(1)
End of period balance *	$	106	$	41	$	33	$	180
Financing receivables:
End of period balance	$	22,090	$	2,562	$	6,872	$	31,524
Balance individually evaluated **	$	44	$	1	$	80	$	125

* Individual allowances were not significant.

** Remainder is collectively evaluated.

Financing receivables are considered impaired when it is probable the Company will be unable to collect all amounts due according to the contractual terms. Receivables reviewed for impairment generally include those that are either past due, or have provided bankruptcy notification, or require significant collection efforts. Receivables that are impaired are generally classified as non-performing.

An analysis of the impaired financing receivables in millions of dollars follows:


			Unpaid				Average
	Recorded		Principal		Specific		Recorded
	Investment		Balance		Allowance		Investment
July 31, 2015*
Receivables with specific allowance **	$	5	$	4	$	1	$	8
Receivables without a specific allowance ***		20		19				21
Total	$	25	$	23	$	1	$	29
Agriculture and turf	$	12	$	11	$	1	$	16
Construction and forestry	$	13	$	12			$	13

October 31, 2014*
Receivables with specific allowance **	$	9	$	9	$	2	$	10
Receivables without a specific allowance **		6		6				7
Total	$	15	$	15	$	2	$	17
Agriculture and turf	$	12	$	12	$	2	$	13
Construction and forestry	$	3	$	3			$	4

July 31, 2014*
Receivables with specific allowance ****	$	92	$	92	$	10	$	95
Receivables without a specific allowance **		6		6				6
Total	$	98	$	98	$	10	$	101
Agriculture and turf	$	96	$	96	$	10	$	99
Construction and forestry	$	2	$	2			$	2

* Finance income recognized was not material.

** Primarily retail notes.

*** Primarily retail notes and wholesale receivables.

**** Primarily wholesale receivables, retail notes and operating loans.

A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity dates, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest. During the first nine months of 2015, the Company identified 76 financing receivable contracts, primarily retail notes, as troubled debt restructurings with aggregate balances of $2.2 million pre-modification and $1.7 million post-modification. During the first nine months of 2014, there were 51 financing receivable contracts, primarily retail notes, identified as troubled debt restructurings with aggregate balances of $1.4 million pre-modification and $1.2 million post-modification. During these same periods, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At July 31, 2015, the Company had no commitments to lend additional funds to borrowers whose accounts were modified in troubled debt restructurings.