SECURITIZATION OF FINANCING RECEIVABLES (Tables)

3 Months Ended

Feb. 02, 2020

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:

	February 2, 2020
Carrying value of liabilities	$	1,370
Maximum exposure to loss		1,441

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:

	February 2		November 3		January 27
	2020		2019		2019
Financing receivables securitized (retail notes)	$	4,487	$	4,395	$	4,573
Allowance for credit losses		(9)		(12)		(10)
Other assets		91		82		109
Total restricted securitized assets	$	4,569	$	4,465	$	4,672

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

	February 2		November 3		January 27
	2020		2019		2019
Short-term securitization borrowings	$	4,416	$	4,321	$	4,464
Accrued interest on borrowings		5		6		3
Total liabilities related to restricted securitized assets	$	4,421	$	4,327	$	4,467