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| CASH FLOW INFORMATION | 7. CASH FLOW INFORMATION For purposes of the statement of consolidated cash flows, the company considers investments with purchased maturities of three months or less to be cash equivalents. Substantially all of the company’s short-term borrowings, excluding the current maturities of long-term borrowings, mature or may require payment within three months or less. The equipment operations sell a significant portion of their trade receivables to financial services. These intercompany cash flows are eliminated in the consolidated cash flows. All cash flows from the changes in trade accounts and notes receivable (see Note 13) are classified as operating activities in the statement of consolidated cash flows as these receivables arise from sales to the company’s customers. Cash flows from financing receivables that are related to sales to the company’s customers (see Note 13) are also included in operating activities. The remaining financing receivables are related to the financing of equipment sold by independent dealers and are included in investing activities. The company had the following non-cash operating and investing activities that were not included in the statement of consolidated cash flows. The company transferred inventory to equipment on operating leases of $679 million, $855 million, and $801 million in 2019, 2018, and 2017, respectively. The company also had accounts payable related to purchases of property and equipment of $152 million, $183 million, and $108 million at November 3, 2019, October 28, 2018, and October 29, 2017, respectively. The company’s restricted cash held at November 3, 2019, October 28, 2018, October 29, 2017, and October 30, 2016 was as follows in millions of dollars:
The equipment operations’ restricted cash relates to miscellaneous operational activities. The financial services restricted cash primarily relates to securitization of financing receivables (see Note 14). The restricted cash is recorded in other assets in the consolidated balance sheet. Cash payments for interest and income taxes consisted of the following in millions of dollars:
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