18. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses at the end of 2024 and 2023 consisted of the following: | | | | | | | | | | 2024 | | 2023 | | Accounts payable: | | | | | | | | Trade payables | | $ | 2,698 | | $ | 3,467 | | Dividends payable | | | 405 | | | 388 | | Operating lease liabilities | | | 270 | | | 281 | | Deposits withheld from dealers and merchants | | | 152 | | | 163 | | Payables to unconsolidated affiliates | | | 6 | | | 6 | | Other | | | 204 | | | 153 | | Accrued expenses: | | | | | | | | Employee benefits | | | 1,925 | | | 2,152 | | Accrued taxes | | | 1,509 | | | 1,558 | | Product warranties | | | 1,426 | | | 1,610 | | Dealer sales incentives | | | 996 | | | 1,243 | | Extended warranty premium | | | 1,179 | | | 1,021 | | Derivative liabilities | | | 582 | | | 1,130 | | Unearned revenue (contractual liability) | | | 744 | | | 676 | | Unearned operating lease revenue | | | 495 | | | 451 | | Accrued interest | | | 455 | | | 434 | | Parts return liability | | | 420 | | | 392 | | Other | | | 1,077 | | | 1,005 | | Accounts payable and accrued expenses | | $ | 14,543 | | $ | 16,130 | |
Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,121 at October 27, 2024 and $2,228 at October 29, 2023. Other eliminations were made for accrued taxes and other accrued expenses.
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