ACCOUNTS PAYABLE AND ACCRUED EXPENSES

12 Months Ended

Nov. 03, 2019

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

20. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses at November 3, 2019 and October 28, 2018 consisted of the following in millions of dollars:


	2019		2018
Equipment Operations
Accounts payable:
Trade payables	$	1,996	$	2,466
Dividends payable		244		223
Other		284		243
Accrued expenses:
Dealer sales discounts		1,990		1,801
Product warranties		1,218		1,146
Employee benefits		1,001		1,038
Accrued taxes		734		836
Unearned revenue		657		665
Other		1,108		965
Total		9,232		9,383
Financial Services
Accounts payable:
Deposits withheld from dealers and merchants		164		190
Other		163		239
Accrued expenses:
Unearned revenue		978		885
Accrued interest		211		163
Employee benefits		61		63
Other		259		516
Total		1,836		2,056
Eliminations*		1,412		1,328
Accounts payable and accrued expenses	$	9,656	$	10,111

* Primarily trade receivable valuation accounts related to sales incentive accruals of $1,400 million, which are reclassified as accrued expenses by the equipment operations as a result of their trade receivables being sold to financial services.