SECURITIZATION OF FINANCING RECEIVABLES (Tables)

12 Months Ended

Oct. 30, 2022

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 at October 30, 2022 in millions of dollars:

	2022
Carrying value of liabilities	$	759
Maximum exposure to loss		843

Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions

The components of consolidated restricted assets, secured borrowings, and other liabilities related to secured borrowings at October 30, 2022 and October 31, 2021 were as follows in millions of dollars:

	2022		2021
Financing receivables securitized (retail notes)	$	5,952	$	4,673
Allowance for credit losses		(16)		(14)
Other assets (primarily restricted cash)		155		107
Total restricted securitized assets	$	6,091	$	4,766
Short-term securitization borrowings	$	5,711	$	4,605
Accrued interest on borrowings		6		2
Total liabilities related to restricted securitized assets	$	5,717	$	4,607