RECEIVABLES (Tables)

12 Months Ended

Oct. 29, 2017

Accounts, Notes, Loans and Financing Receivable

Schedule of Financing Receivable Installments

Financing receivable installments, including unearned finance income, at October 29, 2017 and October 30, 2016 are scheduled as follows in millions of dollars:


	2017				2016
	Unrestricted/Securitized				Unrestricted/Securitized
Due in months:
0 – 12	$	13,237	$	2,027	$	12,835	$	2,269
13 – 24		5,056		1,256		4,760		1,536
25 – 36		3,708		672		3,386		931
37 – 48		2,518		243		2,219		408
49 – 60		1,398		50		1,181		84
Thereafter		475		2		404		7
Total	$	26,392	$	4,250	$	24,785	$	5,235

Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables

An age analysis of past due financing receivables that are still accruing interest and non-performing financing receivables at October 29, 2017 and October 30, 2016 follows in millions of dollars:


	30-59		60-89		90 Days
	Days		Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
2017
Retail Notes:
Agriculture and turf	$	118	$	54	$	49	$	221
Construction and forestry		75		33		39		147
Other:
Agriculture and turf		27		14		7		48
Construction and forestry		11		6		2		19
Total	$	231	$	107	$	97	$	435


			Total				Total
	Total		Non-				Financing
	Past Due		Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	221	$	173	$	17,508	$	17,902
Construction and forestry		147		30		2,618		2,795
Other:
Agriculture and turf		48		12		7,610		7,670
Construction and forestry		19		5		1,059		1,083
Total	$	435	$	220	$	28,795		29,450
Less allowance for credit losses								187
Total financing receivables - net							$	29,263


	30-59		60-89		90 Days
	Days		Days		or Greater		Total
	Past Due		Past Due		Past Due		Past Due
2016
Retail Notes:
Agriculture and turf	$	115	$	57	$	65	$	237
Construction and forestry		78		32		25		135
Other:
Agriculture and turf		26		11		6		43
Construction and forestry		10		5		4		19
Total	$	229	$	105	$	100	$	434


			Total				Total
	Total		Non-				Financing
	Past Due		Performing		Current		Receivables
Retail Notes:
Agriculture and turf	$	237	$	191	$	17,526	$	17,954
Construction and forestry		135		35		2,558		2,728
Other:
Agriculture and turf		43		9		7,286		7,338
Construction and forestry		19		9		957		985
Total	$	434	$	244	$	28,327		29,005
Less allowance for credit losses								176
Total financing receivables - net							$	28,829

Analysis of the Allowance for Credit Losses and Investment in Financing Receivables

An analysis of the allowance for credit losses and investment in financing receivables follows in millions of dollars:


			Revolving
	Retail		Charge
	Notes		Accounts		Other		Total
2017
Allowance:
Beginning of year balance	$	113	$	40	$	23	$	176
Provision		46		33		9		88
Write-offs		(56)		(53)		(7)		(116)
Recoveries		20		20		1		41
Translation adjustments		(2)						(2)
End of year balance*	$	121	$	40	$	26	$	187

Financing receivables:
End of year balance	$	20,697	$	3,629	$	5,124	$	29,450

Balance individually evaluated	$	86	$	3	$	20	$	109


2016
Allowance:
Beginning of year balance	$	95	$	40	$	22	$	157
Provision		43		36		5		84
Write-offs		(43)		(55)		(5)		(103)
Recoveries		11		19		1		31
Translation adjustments		7						7
End of year balance*	$	113	$	40	$	23	$	176

Financing receivables:
End of year balance	$	20,682	$	3,135	$	5,188	$	29,005

Balance individually evaluated	$	108	$	8	$	20	$	136


2015
Allowance:
Beginning of year balance	$	109	$	41	$	25	$	175
Provision		22		21		3		46
Write-offs		(26)		(37)		(4)		(67)
Recoveries		10		15		1		26
Translation adjustments		(20)				(3)		(23)
End of year balance*	$	95	$	40	$	22	$	157

Financing receivables:
End of year balance	$	21,567	$	2,740	$	5,494	$	29,801

Balance individually evaluated	$	40			$	6	$	46

* Individual allowances were not significant.

Analysis of the Impaired Financing Receivables

An analysis of the impaired financing receivables at October 29, 2017 and October 30, 2016 follows in millions of dollars:


			Unpaid				Average
	Recorded		Principal		Specific		Recorded
	Investment		Balance		Allowance		Investment
2017*
Receivables with specific allowance**	$	36	$	33	$	10	$	30
Receivables without a specific allowance***		28		27				24
Total	$	64	$	60	$	10	$	54
Agriculture and turf	$	49	$	46	$	10	$	38
Construction and forestry	$	15	$	14			$	16


2016*
Receivables with specific allowance**	$	31	$	28	$	9	$	29
Receivables without a specific allowance***		29		27				26
Total	$	60	$	55	$	9	$	55
Agriculture and turf	$	33	$	30	$	8	$	27
Construction and forestry	$	27	$	25	$	1	$	28

* Finance income recognized was not material.

** Primarily retail notes.

*** Primarily retail notes and wholesale receivables.

Schedule of Other Receivables

Other receivables at October 29, 2017 and October 30, 2016 consisted of the following in millions of dollars:


	2017		2016
Taxes receivable	$	876	$	702
Other		324		317
Other receivables	$	1,200	$	1,019

Trade Accounts and Notes Receivable

Accounts, Notes, Loans and Financing Receivable

Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment

Trade accounts and notes receivable at October 29, 2017 and October 30, 2016 in millions of dollars follows:


	2017		2016
Trade accounts and notes:
Agriculture and turf	$	2,991	$	2,438
Construction and forestry		934		573
Trade accounts and notes receivable – net	$	3,925	$	3,011

Financing Receivables

Accounts, Notes, Loans and Financing Receivable

Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment

Financing receivables at October 29, 2017 and October 30, 2016 in millions of dollars follow:


	2017				2016
	Unrestricted/Securitized				Unrestricted/Securitized
Retail notes:
Agriculture and turf	$	15,200	$	3,651	$	14,152	$	4,615
Construction and forestry		2,297		599		2,201		620
Total		17,497		4,250		16,353		5,235
Wholesale notes		3,653				3,971
Revolving charge accounts		3,629				3,135
Financing leases (direct and sales-type)		1,613				1,326
Total financing receivables		26,392		4,250		24,785		5,235
Less:
Unearned finance income:
Retail notes		972		78		812		94
Financing leases		142				109
Total		1,114		78		921		94
Allowance for credit losses		174		13		162		14
Financing receivables – net	$	25,104	$	4,159	$	23,702	$	5,127

Financing Receivables | Related to Sales of Equipment

Accounts, Notes, Loans and Financing Receivable

Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment

Financing receivables at October 29, 2017 and October 30, 2016 related to the company’s sales of equipment that were included in the table above consisted of the following in millions of dollars:


	2017		2016
	Unrestricted		Unrestricted
Retail notes*:
Agriculture and turf	$	2,099	$	1,896
Construction and forestry		368		336
Total		2,467		2,232
Wholesale notes		3,653		3,971
Sales-type leases		763		648
Total		6,883		6,851
Less:
Unearned finance income:
Retail notes		231		202
Sales-type leases		53		42
Total		284		244
Financing receivables related to the company’s sales of equipment	$	6,599	$	6,607

* These retail notes generally arise from sales of equipment by company-owned dealers or through direct sales.