Total short-term borrowings at November 1, 2020 and November 3, 2019 consisted of the following in millions of dollars: | | | | | | | | | | 2020 | | 2019 | | Equipment Operations | | | | | | | | Notes payable to banks | | $ | 192 | | $ | 345 | | Finance lease obligations due within one year | | | 21 | | | | | Long-term borrowings due within one year | | | 79 | | | 642 | | Total | | | 292 | | | 987 | | Financial Services | | | | | | | | Commercial paper | | | 1,238 | | | 2,698 | | Notes payable to banks | | | 182 | | | 313 | | Long-term borrowings due within one year* | | | 6,870 | | | 6,786 | | Total | | | 8,290 | | | 9,797 | | Short-term borrowings | | | 8,582 | | | 10,784 | | Short-term securitization borrowings | | | | | | | | Equipment Operations | | | 26 | | | 44 | | Financial Services | | | 4,656 | | | 4,277 | | Total | | | 4,682 | | | 4,321 | | Total short-term borrowings | | $ | 13,264 | | $ | 15,105 | |
* Includes unamortized fair value adjustments related to interest rate swaps.
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