Total short-term borrowings at November 3, 2019 and October 28, 2018 consisted of the following in millions of dollars: | | | | | | | | | | 2019 | | 2018 | | Equipment Operations | | | | | | | | Notes payable to banks | | $ | 345 | | $ | 464 | | Long-term borrowings due within one year | | | 642 | | | 970 | | Total | | | 987 | | | 1,434 | | Financial Services | | | | | | | | Commercial paper | | | 2,698 | | | 3,857 | | Notes payable to banks | | | 313 | | | 344 | | Long-term borrowings due within one year* | | | 6,786 | | | 5,427 | | Total | | | 9,797 | | | 9,628 | | Short-term borrowings | | | 10,784 | | | 11,062 | | Short-term securitization borrowings | | | | | | | | Equipment Operations | | | 44 | | | 75 | | Financial Services | | | 4,277 | | | 3,882 | | Total | | | 4,321 | | | 3,957 | | Total short-term borrowings | | $ | 15,105 | | $ | 15,019 | |
* Includes unamortized fair value adjustments related to interest rate swaps.
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