LEASES - LESSOR

6 Months Ended

May 01, 2022

LEASES - LESSOR

LEASES - LESSOR

(14)  Leases - Lessor

The Company leases equipment manufactured or sold by the Company and a limited amount of non-John Deere equipment to retail customers through sales-type, direct financing, and operating leases. Sales-type and direct financing leases are reported in Financing receivables - net on the consolidated balance sheets, while operating leases are reported in Equipment on operating leases - net.

Lease revenues earned by the Company were as follows in millions of dollars:

	Three Months Ended				Six Months Ended
	May 1, 2022		May 2, 2021		May 1, 2022		May 2, 2021
Sales-type and direct finance lease revenues	$	35	$	34	$	74	$	70
Operating lease revenues		330		358		665		721
Variable lease revenues		7		6		14		12
Total lease revenues	$	372	$	398	$	753	$	803