SECURITIZATION OF FINANCING RECEIVABLES (Tables)

9 Months Ended

Jul. 30, 2017

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:

	July 30, 2017
Carrying value of liabilities	$	1,249
Maximum exposure to loss		1,346

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:

	July 30		October 30		July 31
	2017		2016		2016
Financing receivables securitized (retail notes)	$	4,936	$	5,141	$	5,961
Allowance for credit losses		(13)		(14)		(14)
Other assets		119		115		130
Total restricted securitized assets	$	5,042	$	5,242	$	6,077

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

	July 30		October 30		July 31
	2017		2016		2016
Short-term securitization borrowings	$	4,781	$	4,998	$	5,723
Accrued interest on borrowings		3		2		3
Total liabilities related to restricted securitized assets	$	4,784	$	5,000	$	5,726