LEASES - LESSOR

9 Months Ended

Jul. 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				Nine Months Ended
	July 30		July 31		July 30		July 31
	2023		2022		2023		2022
Sales-type and direct finance lease revenues	$	41	$	39	$	120	$	113
Operating lease revenues		332		326		974		991
Variable lease revenues				6		11		20
Total lease revenues	$	373	$	371	$	1,105	$	1,124