NEW ACCOUNTING STANDARDS (Tables)

12 Months Ended

Oct. 31, 2021

NEW ACCOUNTING STANDARDS

Schedule of Affected Lines on the Consolidated Balance Sheet from Initially Applying the New Measurement of Credit Losses on Financial Instruments Guidance

The effects of adopting the ASU on the consolidated balance sheet were as follows in millions of dollars:

	November 1		Cumulative Effect		November 2
	2020		from Adoption		2020
Assets
Trade accounts and note receivable - net	$	4,171	$	2	$	4,173
Financing receivables - net		29,750		(27)		29,723
Financing receivables securitized - net		4,703		(4)		4,699
Deferred income taxes		1,499		1		1,500
Liabilities
Accounts payable and accrued expenses	$	10,112	$	14	$	10,126
Deferred income taxes		519		(7)		512
Stockholders’ equity
Retained earnings	$	31,646	$	(35)	$	31,611