SECURITIZATION OF FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 27, 2019

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:

	January 27, 2019
Carrying value of liabilities	$	1,632
Maximum exposure to loss		1,745

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:

	January 27		October 28		January 28
	2019		2018		2018
Financing receivables securitized (retail notes)	$	4,573	$	4,032	$	4,487
Allowance for credit losses		(10)		(10)		(13)
Other assets		109		108		116
Total restricted securitized assets	$	4,672	$	4,130	$	4,590

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

	January 27		October 28		January 28
	2019		2018		2018
Short-term securitization borrowings	$	4,464	$	3,957	$	4,428
Accrued interest on borrowings		3		3		3
Total liabilities related to restricted securitized assets	$	4,467	$	3,960	$	4,431