FINANCING RECEIVABLES (Tables)

3 Months Ended

Feb. 01, 2026

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:


	Three Months Ended February 1, 2026
	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total
Allowance:
Beginning of period balance	$	249	$	7	$	2	$	258
Provision (credit)		38		(1)				37
Write-offs		(47)		(10)				(57)
Recoveries		4		11				15
Translation adjustments		1						1
End of period balance	$	245	$	7	$	2	$	254

Financing receivables:
End of period balance	$	37,851	$	3,450	$	7,545	$	48,846


	Three Months Ended January 26, 2025
	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total
Allowance:
Beginning of period balance	$	219	$	8	$	2	$	229
Provision		68		2				70
Write-offs		(48)		(13)				(61)
Recoveries		2		9				11
Translation adjustments		(1)						(1)
End of period balance	$	240	$	6	$	2	$	248

Financing receivables:
End of period balance	$	38,300	$	3,302	$	8,299	$	49,901

Ending Amortized Cost of Financing Receivables Modified

The ending amortized cost of financing receivables modified with borrowers experiencing financial difficulty was as follows:


	Three Months Ended
	February 1		January 26
	2026		2025
Modified financing receivables	$	64	$	28
Percent of financing receivables portfolio		0.13%		0.06%

Schedule of Weighted-Average Effects for Contract Modifications in Months

The weighted-average effects for contract modifications were as follows in months:


	Three Months Ended
	February 1	January 26
	2026	2025
Payment deferral	7	8
Term extension	12	12
Combination modifications
Payment deferral	10	4
Term extension	20	6

Ending Amortized Cost and Performance of Financing Receivables Modified During the Prior Twelve Months

The ending amortized cost and performance of financing receivables modified during the prior twelve months ended February 1, 2026, and January 26, 2025, were as follows:


	February 1		January 26
	2026		2025
Current	$	169	$	74
30-59 days past due		13		7
60-89 days past due		8		4
90+ days past due				3
Non-performing		18		13
Total	$	208	$	101

Retail Customer Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows:


	February 1, 2026
	2026		2025		2024		2023		2022		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	2,265	$	11,250	$	7,550	$	4,637	$	2,574	$	1,218	$	3,210	$	32,704
30-59 days past due		6		117		89		57		30		15		100		414
60-89 days past due				44		38		25		14		6		12		139
90+ days past due				2		2		1		1		2				8
Non-performing				52		141		102		63		46		12		416
Construction and forestry
Current		953		2,915		1,793		865		362		92		108		7,088
30-59 days past due		7		68		52		33		11		5		5		181
60-89 days past due				23		27		14		4		2		2		72
90+ days past due				1		7		2		3						13
Non-performing				48		90		71		33		23		1		266
Total retail customer receivables	$	3,231	$	14,520	$	9,789	$	5,807	$	3,095	$	1,409	$	3,450	$	41,301

Write-offs for the three months ended February 1, 2026:
Agriculture and turf			$	4	$	7	$	6	$	3	$	2	$	9	$	31
Construction and forestry				8		7		7		2		1		1		26
Total			$	12	$	14	$	13	$	5	$	3	$	10	$	57


	November 2, 2025
	2025		2024		2023		2022		2021		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	12,380	$	8,389	$	5,228	$	3,003	$	1,310	$	281	$	4,608	$	35,199
30-59 days past due		36		73		59		38		15		7		37		265
60-89 days past due		14		37		28		13		8		2		10		112
90+ days past due		1		2				1		2						6
Non-performing		41		109		98		57		30		17		14		366
Construction and forestry
Current		3,175		2,038		1,034		463		130		12		124		6,976
30-59 days past due		42		47		31		12		4		1		5		142
60-89 days past due		21		17		12		8		1		1		2		62
90+ days past due		1		6		3		2				1				13
Non-performing		31		94		78		38		19		7		1		268
Total retail customer receivables	$	15,742	$	10,812	$	6,571	$	3,635	$	1,519	$	329	$	4,801	$	43,409

Write-offs for the twelve months ended November 2, 2025:
Agriculture and turf	$	6	$	32	$	34	$	21	$	9	$	7	$	102	$	211
Construction and forestry		9		38		29		12		3		3		7		101
Total	$	15	$	70	$	63	$	33	$	12	$	10	$	109	$	312


	January 26, 2025
	2025		2024		2023		2022		2021		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	2,421	$	12,687	$	7,437	$	4,560	$	2,387	$	903	$	3,027	$	33,422
30-59 days past due		8		113		94		51		27		12		128		433
60-89 days past due		1		44		38		21		10		5		24		143
90+ days past due				2		1				4						7
Non-performing				44		120		81		49		33		15		342
Construction and forestry
Current		883		2,834		1,614		880		349		73		99		6,732
30-59 days past due		7		72		45		29		11		3		5		172
60-89 days past due				30		21		11		4		1		3		70
90+ days past due				4		2		3				1				10
Non-performing				66		100		56		33		15		1		271
Total retail customer receivables	$	3,320	$	15,896	$	9,472	$	5,692	$	2,874	$	1,046	$	3,302	$	41,602

Write-offs for the three months ended January 26, 2025:
Agriculture and turf			$	5	$	9	$	6	$	2	$	3	$	10	$	35
Construction and forestry				9		8		4		1		1		3		26
Total			$	14	$	17	$	10	$	3	$	4	$	13	$	61

Wholesale Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of wholesale receivables was as follows:


	February 1		November 2		January 26
	2026		2025		2025
Wholesale receivables:
Agriculture and turf
Current	$	6,128	$	6,731	$	7,098
30+ days past due		1
Non-performing		3				1
Construction and forestry
Current		1,407		1,524		1,200
30+ days past due
Non-performing		6
Total wholesale receivables	$	7,545	$	8,255	$	8,299