LEASES - LESSOR

6 Months Ended

Apr. 30, 2023

LEASES - LESSOR

LEASES - LESSOR

(15)  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
	April 30, 2023		May 1, 2022		April 30, 2023		May 1, 2022
Sales-type and direct finance lease revenues	$	37	$	35	$	79	$	74
Operating lease revenues		321		330		642		665
Variable lease revenues		5		7		11		14
Total lease revenues	$	363	$	372	$	732	$	753