ACCOUNTS PAYABLE AND ACCRUED EXPENSES

12 Months Ended

Oct. 29, 2023

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

18. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses at the end of 2023 and 2022 consisted of the following:


	2023		2022
Accounts payable:
Trade payables	$	3,467	$	3,894
Dividends payable		388		343
Operating lease liabilities		281		302
Deposits withheld from dealers and merchants		163		163
Payables to unconsolidated affiliates		6		11
Other		153		214
Accrued expenses:
Employee benefits		2,152		1,528
Product warranties		1,610		1,427
Accrued taxes		1,558		1,255
Derivative liabilities		1,130		1,231
Dealer sales discounts		1,243		1,044
Extended warranty premium		1,021		866
Unearned revenue (contractual liability)		676		557
Unearned operating lease revenue		451		399
Accrued interest		434		288
Other		1,397		1,300
Accounts payable and accrued expenses	$	16,130	$	14,822

Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,228 at October 29, 2023 and $1,280 at October 30, 2022. Other eliminations were made for accrued taxes and other accrued expenses.