FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 31, 2016

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, 2016
					90 Days
	30-59 Days		60-89 Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
Retail Notes:
Agriculture and turf	$	143	$	67	$	70	$	280
Construction and forestry		70		31		28		129
Other:
Agriculture and turf		35		17		4		56
Construction and forestry		9		6		3		18
Total	$	257	$	121	$	105	$	483
							Total
	Total		Total				Financing
	Past Due		Non-Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	280	$	115	$	17,549	$	17,944
Construction and forestry		129		21		2,543		2,693
Other:
Agriculture and turf		56		12		6,171		6,239
Construction and forestry		18		6		889		913
Total	$	483	$	154	$	27,152		27,789
Less allowance for credit losses								155
Total financing receivables - net							$	27,634

	October 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	$	112	$	54	$	47	$	213
Construction and forestry		64		29		12		105
Other:
Agriculture and turf		26		12		4		42
Construction and forestry		13		5		3		21
Total	$	215	$	100	$	66	$	381
							Total
	Total		Total				Financing
	Past Due		Non-Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	213	$	98	$	18,574	$	18,885
Construction and forestry		105		21		2,556		2,682
Other:
Agriculture and turf		42		13		7,175		7,230
Construction and forestry		21		10		973		1,004
Total	$	381	$	142	$	29,278		29,801
Less allowance for credit losses								157
Total financing receivables - net							$	29,644

	January 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	$	122	$	41	$	40	$	203
Construction and forestry		59		25		11		95
Other:
Agriculture and turf		32		10		3		45
Construction and forestry		16		6		3		25
Total	$	229	$	82	$	57	$	368
							Total
	Total		Total				Financing
	Past Due		Non-Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	203	$	102	$	19,027	$	19,332
Construction and forestry		95		12		2,529		2,636
Other:
Agriculture and turf		45		17		6,791		6,853
Construction and forestry		25		5		1,016		1,046
Total	$	368	$	136	$	29,363		29,867
Less allowance for credit losses								168
Total financing receivables - net							$	29,699

Analysis of the Allowance for Credit Losses and Investment in Financing Receivables

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

	Three Months Ended January 31, 2016
			Revolving
	Retail		Charge
	Notes		Accounts		Other		Total
Allowance:
Beginning of period balance	$	95	$	40	$	22	$	157
Provision		5		2				7
Write-offs		(7)		(7)				(14)
Recoveries		2		5				7
Translation adjustments		(2)						(2)
End of period balance *	$	93	$	40	$	22	$	155
Financing receivables:
End of period balance	$	20,637	$	2,151	$	5,001	$	27,789
Balance individually evaluated **	$	55	$	3	$	7	$	65

	Three Months Ended January 31, 2015
			Revolving
	Retail		Charge
	Notes		Accounts		Other		Total
Allowance:
Beginning of period balance	$	109	$	41	$	25	$	175
Provision		1						1
Write-offs		(3)		(4)				(7)
Recoveries		2		4				6
Translation adjustments		(5)				(2)		(7)
End of period balance *	$	104	$	41	$	23	$	168
Financing receivables:
End of period balance	$	21,968	$	1,882	$	6,017	$	29,867
Balance individually evaluated **	$	23	$	1	$	1	$	25

* Individual allowances were not significant.

** Remainder is collectively evaluated.

Analysis of the Impaired Financing Receivables

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

			Unpaid				Average
	Recorded		Principal		Specific		Recorded
	Investment		Balance		Allowance		Investment
January 31, 2016*
Receivables with specific allowance **	$	13	$	12	$	2	$	13
Receivables without a specific allowance ***		15		14				14
Total	$	28	$	26	$	2	$	27
Agriculture and turf	$	18	$	16	$	2	$	18
Construction and forestry	$	10	$	10			$	9
October 31, 2015*
Receivables with specific allowance **	$	14	$	13	$	2	$	13
Receivables without a specific allowance ***		14		14				20
Total	$	28	$	27	$	2	$	33
Agriculture and turf	$	19	$	18	$	2	$	20
Construction and forestry	$	9	$	9			$	13
January 31, 2015*
Receivables with specific allowance **	$	6	$	6	$	2	$	7
Receivables without a specific allowance **		6		5				6
Total	$	12	$	11	$	2	$	13
Agriculture and turf	$	10	$	10	$	2	$	11
Construction and forestry	$	2	$	1			$	2

*  Finance income recognized was not material.

**  Primarily retail notes.

***   Primarily retail notes and wholesale receivables.