ACCOUNTS PAYABLE AND ACCRUED EXPENSES

6 Months Ended

Apr. 28, 2024

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

(13)  Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:

	April 28		October 29		April 30
	2024		2023		2023
Accounts payable:
Trade payables	$	2,968	$	3,467	$	3,680
Dividends payable		409		388		371
Operating lease liabilities		270		281		294
Deposits withheld from dealers and merchants		159		163		157
Payables to unconsolidated affiliates		8		6		9
Other		184		153		131
Accrued expenses:
Employee benefits		1,550		2,152		1,475
Product warranties		1,566		1,610		1,562
Accrued taxes		1,453		1,558		1,691
Derivative liabilities		1,005		1,130		758
Dealer sales discounts		546		1,243		605
Extended warranty premium		1,110		1,021		949
Unearned revenue (contractual liability)		801		676		673
Unearned operating lease revenue		483		451		441
Accrued interest		513		434		354
Parts return liability		404		392		376
Other		1,180		1,005		1,190
Accounts payable and accrued expenses	$	14,609	$	16,130	$	14,716

Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,650 at April 28, 2024, $2,228 at October 29, 2023, and $1,979 at April 30, 2023. Other eliminations were made for accrued taxes and other accrued expenses.