Deere John Capital (DE22B) 10-K 16 Dec 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Oct. 31, 2021	Nov. 28, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Oct. 31, 2021
Entity File Number	1-6458
Entity Registrant Name	DEERE JOHN CAPITAL CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2386361
Entity Address, Address Line One	10587 Double R Boulevard, Suite 100
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89521
City Area Code	775
Local Phone Number	786-5527
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,500
Entity Public Float	$ 0
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0000027673
Amendment Flag	false
2.75% Senior Notes Due 2022
Document Information [Line Items]
Title of 12(b) Security	2.75% Senior Notes Due 2022
Trading Symbol	JDCC/22
Security Exchange Name	NYSE
2.00% Senior Notes Due 2031
Document Information [Line Items]
Title of 12(b) Security	2.00% Senior Notes Due 2031
Trading Symbol	JDCC 31
Security Exchange Name	NYSE

Statement of Consolidated Incom

Statement of Consolidated Income - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Revenues
Finance income earned on retail notes	$ 946.6	$ 941.4	$ 919.3
Lease revenues	1,022	1,088.9	1,009.8
Revolving charge account income	298.1	333.8	346.2
Finance income earned on wholesale receivables	299.8	385	535.4
Other income	121.5	58.5	79.6
Total revenues	2,688	2,807.6	2,890.3
Expenses
Interest expense	472.9	743.9	987.8
Operating expenses:
Depreciation of equipment on operating leases	733.4	845.1	743.6
Administrative and operating expenses	406	470.6	533
Fees paid to John Deere	168.3	101.6	67.5
Provision (credit) for credit losses	(0.9)	89.4	45.4
Total operating expenses	1,306.8	1,506.7	1,389.5
Total expenses	1,779.7	2,250.6	2,377.3
Income of consolidated group before income taxes	908.3	557	513
Provision for income taxes	200.5	134.1	95.5
Income of consolidated group	707.8	422.9	417.5
Equity in income of unconsolidated affiliate	3	2.2	1.8
Net income	710.8	425.1	419.3
Less: Net income attributable to noncontrolling interests	0.2	0.1	0.1
Net income attributable to the Company	$ 710.6	$ 425	$ 419.2

Statement of Consolidated Compr

Statement of Consolidated Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Statement of Consolidated Comprehensive Income
Net income	$ 710.8	$ 425.1	$ 419.3
Other comprehensive income (loss), net of income taxes
Cumulative translation adjustment	15	18.9	(7.7)
Unrealized gain (loss) on derivatives	13.5	0.3	(21.8)
Unrealized gain (loss) on debt securities	(0.1)	0.4	(2)
Other comprehensive income (loss), net of income taxes	28.4	19.6	(31.5)
Comprehensive income of consolidated group	739.2	444.7	387.8
Less: Comprehensive income attributable to noncontrolling interests	0.2	0.1	0.1
Comprehensive income attributable to the Company	$ 739	$ 444.6	$ 387.7

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Assets
Cash and cash equivalents	$ 677	$ 674.6
Marketable securities	2.1	2.2
Receivables:
Total receivables	36,669.6	33,557.3
Allowance for credit losses	(129)	(129.1)
Total receivables - net	36,540.6	33,428.2
Other receivables	85.1	88.1
Receivables from John Deere	191.6	583.2
Equipment on operating leases - net	4,947.6	5,297.8
Notes receivable from John Deere	393.5	350
Investment in unconsolidated affiliate	21.9	19.3
Deferred income taxes	32.7	27.1
Other assets	324.5	386.7
Total Assets	43,216.6	40,857.2
Short-term external borrowings:
Commercial paper and other notes payable	678.9	187.5
Securitization borrowings	4,595.2	4,656.2
Current maturities of long-term external borrowings	5,819.1	5,741.6
Total short-term external borrowings	11,093.2	10,585.3
Notes payable to John Deere	5,619.4	5,249.5
Other payables to John Deere	97.6	30.1
Accounts payable and accrued expenses	876	922.3
Deposits withheld from dealers and merchants	131.8	114.8
Deferred income taxes	265.1	345.9
Long-term external borrowings	20,607.3	19,311.1
Total liabilities	38,690.4	36,559
Commitments and contingencies (Note 18)
Stockholder's equity:
Common stock, without par value (issued and outstanding - 2,500 shares owned by John Deere Financial Services, Inc.)	1,482.8	1,482.8
Retained earnings	3,091	2,891.6
Accumulated other comprehensive income (loss)	(49.4)	(77.8)
Total Company stockholder's equity	4,524.4	4,296.6
Noncontrolling interests	1.8	1.6
Total stockholder's equity	4,526.2	4,298.2
Total Liabilities and Stockholder's Equity	43,216.6	40,857.2
Retail notes | Unrestricted
Receivables:
Total receivables	21,343.5	17,158
Retail notes | Securitized
Receivables:
Total receivables	4,662.4	4,689.2
Revolving charge accounts
Receivables:
Total receivables	3,740.1	3,827.4
Allowance for credit losses	(20.8)	(42.3)
Wholesale Receivables
Receivables:
Total receivables	5,951.3	7,093.3
Allowance for credit losses	(11.7)	(9.9)
Financing Leases
Receivables:
Total receivables	$ 972.3	$ 789.4

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - shares	Oct. 31, 2021	Nov. 01, 2020
Consolidated Balance Sheet
Common stock, issued shares	2,500	2,500
Common stock, outstanding shares	2,500	2,500

Statement of Consolidated Cash

Statement of Consolidated Cash Flows - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Cash Flows from Operating Activities:
Net income	$ 710.8	$ 425.1	$ 419.3
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses	(0.9)	89.4	45.4
Provision for depreciation and amortization	756.6	861.6	765.1
Credit for deferred income taxes	(83.3)	(175.6)	(286.5)
Impairment charges		30.8	77.4
Undistributed earnings of unconsolidated affiliate	(2.7)	(2)	(1.6)
Change in accounts payable and accrued expenses	(39.5)	(25.1)	85.9
Change in accrued income taxes payable/receivable	(11.1)	45.7	444
Other	36	200.3	211.1
Net cash provided by operating activities	1,365.9	1,450.2	1,760.1
Cash Flows from Investing Activities:
Cost of receivables acquired (excluding wholesale)	(22,438)	(19,060)	(17,714.8)
Collections of receivables (excluding wholesale)	18,147.4	16,768.9	16,097.1
Decrease (increase) in wholesale receivables - net	1,197.1	1,649.1	(758.8)
Cost of equipment on operating leases acquired	(1,845.7)	(1,904.9)	(2,466.9)
Proceeds from sales of equipment on operating leases	1,569.1	1,334.6	1,213.6
Cost of notes receivable acquired from John Deere	(321.5)	(198.1)	(126.6)
Collections of notes receivable from John Deere	297.5	110.7	36.5
Purchases of marketable securities			(11)
Proceeds from maturities and sales of marketable securities			5.1
Other	2.4	(35.9)	(52.6)
Net cash used for investing activities	(3,391.7)	(1,335.6)	(3,778.4)
Cash Flows from Financing Activities:
Increase (decrease) in commercial paper and other notes payable - net	504.9	(1,269.1)	(658.5)
Increase (decrease) in securitization borrowings - net	(60.7)	379.1	395.8
Increase in short-term borrowings with John Deere - net	392.8	3,291.8	491.8
Proceeds from issuance of long-term external borrowings	7,418.3	3,561.9	6,743.9
Payments of long-term external borrowings	(5,710.4)	(5,719.7)	(4,583.3)
Dividends paid	(485)	(275)	(330)
Capital investment from John Deere		0.1	0.6
Debt issuance costs	(33.7)	(24.8)	(31.8)
Net cash provided by (used for) financing activities	2,026.2	(55.7)	2,028.5
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	3	(0.4)	(11.1)
Net increase (decrease) in cash, cash equivalents, and restricted cash	3.4	58.5	(0.9)
Cash, cash equivalents, and restricted cash at beginning of year	769.4	710.9	711.8
Cash, cash equivalents, and restricted cash at end of year	$ 772.8	$ 769.4	$ 710.9

Statement of Changes in Consoli

Statement of Changes in Consolidated Stockholder's Equity - USD ($) $ in Millions	Common Stock	Retained EarningsCumulative Effect from Adoption	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interests	Cumulative Effect from Adoption	Total
Balance at Oct. 28, 2018	$ 1,482.8		$ 2,652.4	$ (65.9)	$ 0.7		$ 4,070
Increase (Decrease) in Stockholder's Equity
Net income			419.2		0.1		419.3
Other comprehensive income (loss)				(31.5)			(31.5)
Dividends declared			(330)				(330)
Capital investment					0.6		0.6
Balance at Nov. 03, 2019	1,482.8		2,741.6	(97.4)	1.4		4,128.4
Increase (Decrease) in Stockholder's Equity
Net income			425		0.1		425.1
Other comprehensive income (loss)				19.6			19.6
Dividends declared			(275)				(275)
Capital investment					0.1		0.1
Balance (ASU 2016-13) at Nov. 01, 2020		$ (26.2)				$ (26.2)
Balance at Nov. 01, 2020	1,482.8		2,891.6	(77.8)	1.6		4,298.2
Increase (Decrease) in Stockholder's Equity
Net income			710.6		0.2		710.8
Other comprehensive income (loss)				28.4			28.4
Dividends declared			(485)				(485)
Balance at Oct. 31, 2021	$ 1,482.8		$ 3,091	$ (49.4)	$ 1.8		$ 4,526.2

Organization and Consolidation

Organization and Consolidation	12 Months Ended
	Oct. 31, 2021
Organization and Consolidation
Organization and Consolidation	John Deere Capital Corporation and Subsidiaries Notes to Consolidated Financial Statements Note 1. Organization and Consolidation Corporate Organization John Deere Capital Corporation (Capital Corporation) and its subsidiaries are collectively called the Company. John Deere Financial Services, Inc. (JDFS), a wholly-owned finance holding subsidiary of Deere & Company, owns all of the outstanding common stock of Capital Corporation. The Company conducts business in Australia, New Zealand, the U.S., and in several countries in Africa, Asia, Europe, and Latin America. Deere & Company and its wholly-owned subsidiaries are collectively called John Deere. Retail notes, revolving charge accounts, wholesale receivables, and financing leases are collectively called “Receivables.” Receivables and equipment on operating leases are collectively called “Receivables and Leases.” The Company bears substantially all of the credit risk (net of recovery from withholdings from certain John Deere dealers and merchants) associated with its holding of Receivables and Leases. A small portion of the Receivables and Leases held (less than 5 percent) is guaranteed by certain subsidiaries of Deere & Company. The Company also performs substantially all servicing and collection functions. Servicing and collection functions for a small portion of the Receivables and Leases held (less than 5 percent) are provided by John Deere. John Deere is reimbursed for staff and other administrative services at estimated cost, and for credit lines provided to the Company based on utilization of those lines. In fiscal year 2021, John Deere implemented a new operating model and reporting structure. With this change, John Deere’s agriculture and turf operations were divided into two new segments: production and precision agriculture and small agriculture and turf. There were no changes to John Deere’s construction and forestry or financial services segments. Receivables and Leases managed by the Company continue to be evaluated by market (agriculture and turf and construction and forestry). References to agriculture and turf include both production and precision agriculture and small agriculture and turf. Principles of Consolidation The consolidated financial statements include the financial statements of Capital Corporation and its subsidiaries. The consolidated financial statements represent primarily the consolidation of all companies in which Capital Corporation has a controlling interest. Certain variable interest entities (VIEs) are consolidated since the Company has both the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIEs. The Company records its investment in each unconsolidated affiliated company (generally 20 to 50 percent ownership) at its related equity in the net assets of such affiliate (see Note 24). Fiscal Year The Company uses a 52/53 week fiscal year ending on the last Sunday in the reporting period, which generally occurs in October. An additional week is included in the fourth fiscal quarter every five or six years to realign the Company’s fiscal quarters with the calendar. The fiscal year ends for 2021, 2020, and 2019 were October 31, 2021, November 1, 2020, and November 3, 2019, respectively. Fiscal years 2021 and 2020 contained 52 weeks compared to 53 weeks in fiscal year 2019. Unless otherwise stated, references to particular years or quarters refer to the Company’s fiscal years and the associated periods in those fiscal years. Variable Interest Entities The Company is the primary beneficiary of and consolidates certain VIEs that are special purpose entities (SPEs) related to the securitization of receivables. See Note 6 for more information on these SPEs. Argentina The Company has financial services operations in Argentina. The U.S. dollar has historically been the functional currency for the Company's Argentina operations, as its business is generally indexed to the U.S. dollar due to the highly inflationary conditions. The Argentine government has certain capital and currency controls that restrict the Company's ability to access U.S. dollars in Argentina and remit earnings from its Argentine operations. As of October 31, 2021, the Company's net investment in Argentina was approximately $69.5 million. The Company's net investment in its Argentine operations is likely to increase as the business generates net income that is unable to be remitted and is required to meet the Argentina central bank’s minimum capital requirements. Revenues from the Company's Argentine operations represented approximately 3 percent of the Company's consolidated revenues for 2021. The net peso exposure as of October 31, 2021 was approximately $46.5 million. Argentine peso-denominated monetary assets and liabilities are remeasured at each balance sheet date using the official currency exchange rate.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Oct. 31, 2021
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies The following are significant accounting policies in addition to those included in other Notes to the Consolidated Financial Statements. Use of Estimates in Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts and related disclosures. The COVID pandemic has resulted in uncertainties in the Company’s business, which may result in actual outcomes differing from those estimates. Revenue Recognition Financing revenue is recorded over the lives of the related receivables using the interest method. Deferred costs on the origination of receivables are recognized as a reduction in finance revenue over the expected lives of the receivables using the interest method. Income and deferred costs on the origination of operating leases are recognized on a straight-line basis over the scheduled lease terms in lease revenue. Receivables and Allowance for Credit Losses Receivables are reported on the balance sheet at outstanding principal and accrued interest, adjusted for any write-offs and any unamortized deferred fees or costs on originated Receivables. The Company also records an allowance for credit losses and provision for credit losses related to the Receivables. The allowance represents an estimate of the credit losses expected over the life of the Receivable portfolio, and is measured on a collective basis when similar risk characteristics exist. Risk characteristics considered by the Company include product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. The Company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex Customer Receivable pools, while weighted-average remaining maturity (WARM) models are used for smaller and less complex Customer Receivable pools. Expected credit losses on wholesale receivables are based on historical loss rates, with consideration of current economic conditions and dealer financial risk Securitization of Receivables Certain financing receivables are periodically transferred to SPEs in securitization transactions (see Note 6). These securitizations qualify as collateral for secured borrowings and no gains or losses are recognized at the time of securitization. The receivables remain on the balance sheet and are classified as retail notes securitized. The Company recognizes finance income over the lives of these receivables using the interest method. Depreciation The Company estimates residual values of equipment on operating leases at the inception of the lease, and the equipment is depreciated over the lease terms to the estimated residual value using the straight-line method. The Company reviews residual value estimates during the lease term and depreciation is adjusted prospectively on a straight-line basis over the remaining lease term if residual estimates are revised. Impairment of Long-Lived Assets The Company evaluates the carrying value of long-lived assets when events or circumstances warrant such a review. If the carrying value of the long-lived asset is considered impaired, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the asset (see Notes 7 and 20). Fees Paid to John Deere Fees paid to John Deere include corporate support fees and interest on intercompany borrowings from John Deere based on approximate market rates. Derivative Financial Instruments The Company’s policy is that derivative transactions are executed only to manage exposures arising in the normal course of business and not for the purpose of creating speculative positions or trading. The Company manages the relationship of the types and amounts of its funding sources to its Receivable and Lease portfolios in an effort to diminish risk due to interest rate and foreign currency fluctuations, while responding to favorable financing opportunities. The Company also has foreign currency exposures at some of its foreign and domestic operations related to financing in currencies other than the functional currencies. All derivatives are recorded at fair value on the balance sheet. Cash collateral received or paid is not offset against the derivative fair values on the balance sheet. Each derivative is designated as a cash flow hedge, fair value hedge, or remains undesignated. Changes in the fair value of derivatives that are designated and effective as cash flow hedges are recorded in other comprehensive income (OCI) and reclassified to the income statement when the effects of the item being hedged are recognized in the income statement. Changes in the fair value of derivatives that are designated and effective as fair value hedges are recognized currently in net income. These changes are offset in net income by fair value changes related to the risk being hedged on the hedged item. Changes in the fair value of undesignated hedges are recognized currently in the income statement. All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis, the hedging instrument is assessed as to its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued (see Note 21). Foreign Currency Translation The functional currencies for most of the Company’s foreign operations are their respective local currencies. The assets and liabilities of these operations are translated into U.S. dollars at the end of the period exchange rates. The revenues and expenses are translated at weighted-average rates for the period. The gains or losses from these translations are recorded in OCI. Gains or losses from transactions denominated in a currency other than the functional currency of the subsidiary involved and foreign currency exchange derivative contracts are included in net income. The pretax net losses for foreign currency exchange in 2021 and 2020 were $14.9 million and $18.8 million, respectively. The pretax net gain for foreign currency exchange in 2019 was $3.9 million.

New Accounting Standards

New Accounting Standards	12 Months Ended
	Oct. 31, 2021
New Accounting Standards
New Accounting Standards	Note 3. New Accounting Standards New Accounting Standards Adopted In the first quarter of 2021, the Company adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, which establishes Accounting Standards Codification (ASC) 326, Financial Instruments – Credit Losses. This ASU was adopted using a modified-retrospective The Company holds deposits from dealers (dealer deposits), which are recorded in deposits withheld from dealers and merchants, to absorb certain credit losses. Prior to adopting this ASU, the allowance for credit losses was estimated on probable credit losses incurred after consideration of recoveries from dealer deposits. The ASU considers dealer deposits and certain credit insurance contracts as freestanding credit enhancements. As a result, after adoption, credit losses recovered from dealer deposits and certain credit insurance contracts are presented in other income and no longer as part of the allowance for credit losses or the provision for credit losses. The ASU also modified the treatment of the estimated write-off on delinquent receivables by no longer including the estimated benefit of charges to the dealer deposits in the write-off amount (see Note 5). This change increases the estimated write-offs on delinquent financing receivables with the benefit of credit losses recovered from dealer deposits presented in other income. This benefit, in both situations, is recorded when the dealer deposits are charged and no longer based on estimated recoveries. The effects of adopting the ASU on the consolidated balance sheet were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1 ​ Cumulative Effect ​ November 2 ​ ​ 2020 ​ from Adoption ​ 2020 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ $ (129.1) ​ $ (19.7) ​ $ (148.8) Deferred income taxes ​ ​ 27.1 ​ ​ .7 ​ ​ 27.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses ​ $ 922.3 ​ $ (.5) ​ $ 921.8 Deposits withheld from dealers and merchants ​ ​ 114.8 ​ ​ 13.5 ​ ​ 128.3 Deferred income taxes ​ ​ 345.9 ​ ​ (5.8) ​ ​ 340.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholder’s equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings ​ $ 2,891.6 ​ $ (26.2) ​ $ 2,865.4 ​ Note 5 contains additional disclosures as well as the Company’s updated allowance for credit losses accounting policy. The Company also adopted the following standards in 2021, none of which had a material effect on the Company’s consolidated financial statements: Accounting Standards Updates No. 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which amends ASC 350-40, Intangibles – Goodwill and Other – Internal-Use Software No. 2019-04 Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments No. 2021-01 Reference Rate Reform (Topic 848): Scope New Accounting Standards to be Adopted The Company will adopt the following standards in future periods, none of which are expected to have a material effect on the Company’s consolidated financial statements: Accounting Standards Updates No. 2019-12 Simplifying the Accounting for Income Taxes, which amends ASC 740, Income Taxes No. 2020-08 Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ​

Receivables

Receivables	12 Months Ended
	Oct. 31, 2021
Receivables
Receivables	Note 4. Receivables Retail Notes Receivable The Company provides and administers financing for retail purchases of new agriculture and turf and construction and forestry equipment manufactured by John Deere, and used equipment taken in trade for this equipment. The Company generally purchases retail installment sales and loan contracts (retail notes) from John Deere. These retail notes are acquired by John Deere through John Deere retail dealers. The Company also purchases and finances a limited amount of retail notes unrelated to John Deere. Retail notes receivable by market at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Unrestricted Securitized Unrestricted Securitized Agriculture and turf – new ​ $ 12,125.8 ​ $ 1,713.7 ​ $ 10,154.9 ​ $ 1,812.1 ​ Agriculture and turf – used ​ 5,992.5 ​ 2,326.6 ​ 4,385.1 ​ 2,321.6 ​ Construction and forestry – new ​ 2,902.1 ​ 536.0 ​ 2,568.8 ​ 535.7 ​ Construction and forestry – used ​ 974.6 ​ 165.9 ​ 692.1 ​ 117.3 ​ Total ​ 21,995.0 ​ 4,742.2 ​ 17,800.9 ​ 4,786.7 ​ Unearned finance income ​ (651.5) ​ (79.8) ​ (642.9) ​ (97.5) ​ Retail notes receivable ​ $ 21,343.5 ​ $ 4,662.4 ​ $ 17,158.0 ​ $ 4,689.2 ​ ​ Retail notes acquired by the Company during 2021, 2020, and 2019, had an average original term (based on dollar weighted amounts) of 57 months, 57 months, and 56 months, respectively. Historically, because of prepayments, the average actual life of retail notes has been considerably shorter than the average original term. The average actual life for retail notes liquidated in 2021, 2020, and 2019 was 36 months, 38 months, and 40 months, respectively. Gross retail note installments at October 31, 2021 and November 1, 2020 were scheduled to be received as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Unrestricted Securitized Unrestricted Securitized Due in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 0-12 months ​ $ 6,448.9 ​ $ 1,894.0 ​ $ 5,466.8 ​ $ 1,950.2 ​ 13-24 months ​ 5,361.5 ​ 1,322.8 ​ 4,397.4 ​ 1,347.8 ​ 25-36 months ​ 4,400.4 ​ 884.4 ​ 3,501.9 ​ 888.3 ​ 37-48 months ​ 3,232.5 ​ 478.1 ​ 2,502.6 ​ 460.0 ​ 49-60 months ​ 1,927.4 ​ 149.7 ​ 1,462.1 ​ 129.2 ​ Over 60 months ​ 624.3 ​ 13.2 ​ 470.1 ​ 11.2 ​ Total ​ $ 21,995.0 ​ $ 4,742.2 ​ $ 17,800.9 ​ $ 4,786.7 ​ ​ Company guidelines relating to down payment requirements and contract terms on retail notes are generally as follows: ​ ​ ​ ​ ​ ​ ​ Down ​ Contract ​ ​ Payment ​ Terms Agriculture (new and used): ​ ​ ​ ​ ​ Seasonal payments 20% ​ 3 ​ Monthly payments 10% ​ 36 ​ Turf (new and used): ​ ​ ​ ​ ​ Seasonal payments ​ 10% ​ 3 ​ Monthly payments ​ 0% ​ 36 ​ Construction and forestry: ​ ​ ​ ​ ​ New ​ 10% ​ 24 ​ Used ​ 15% ​ 36 ​ ​ Finance income is recognized over the lives of the retail notes using the interest method. During 2021, the average effective yield on retail notes held by the Company was approximately 4.0 percent, compared with 4.7 percent in 2020 and 5.0 percent in 2019. Finance income on variable-rate retail notes is adjusted periodically based on the adjustment schedule and fluctuations in the applicable base rate specified in the respective contract. Net costs incurred in the acquisition of retail notes are deferred and recognized over the expected lives of the retail notes using the interest method. A portion of the finance income earned by the Company arises from financing of retail sales of John Deere equipment on which finance charges are waived or reduced by John Deere for a period from the date of the retail sale to a specified subsequent date. The Company receives compensation from John Deere equal to competitive market interest rates for periods during which finance charges have been waived or reduced. The Company computes the compensation from John Deere for waived or reduced finance charges based on the Company’s estimated funding costs, administrative and operating expenses, credit losses, and required return on equity. The financing rate following the waiver or interest reduction period is not significantly different from the compensation rate from John Deere. During 2021, 2020, and 2019, the finance income earned from John Deere on retail notes containing waiver of finance charges or reduced rates was $325.0 million, $339.5 million, and $334.8 million, respectively. A deposit is withheld by the Company on certain John Deere agriculture and turf equipment retail notes originating from dealers. Any subsequent retail note losses, subject to certain limitations by customer, are charged against the withheld deposits. At the end of each calendar quarter, the balance of each dealer’s withholding account in excess of a specified percent (ranging from one The Company generally requires that theft and physical damage insurance be carried on all goods leased or securing retail notes and wholesale receivables. In certain markets, the customer may, at the customer’s own expense, have the Company or the seller of the goods purchase this insurance or obtain it from other sources. Revolving Charge Accounts Receivable Revolving charge account income is generated primarily by three revolving credit products: John Deere Financial Multi-Use Account, PowerPlan â â Deere construction and forestry dealers offer PowerPlan â â During 2021, 2020, and 2019, the finance income earned from John Deere on revolving charge accounts containing waiver of finance charges or reduced rates was $14.3 million, $15.2 million, and $14.1 million, respectively. Revolving charge accounts receivable at October 31, 2021 and November 1, 2020 totaled $3,740.1 million and $3,827.4 million, and were net of unearned interest income of $53.8 million and $58.9 million for the same periods, respectively. Generally, account holders may pay the account balance in full at any time or make payments over a number of months according to a payment schedule. Wholesale Receivables The Company also provides wholesale financing to dealers of John Deere agriculture and turf equipment and construction and forestry equipment, primarily to finance inventories of equipment for those dealers. Wholesale finance income related to these notes is generally recognized monthly based on the daily balance of wholesale receivables outstanding and the applicable effective interest rate. Interest rates vary with a bank base rate, the type of equipment financed, and the balance outstanding. Substantially all wholesale receivables are secured by equipment financed or other collateral. The average actual life for wholesale receivables is less than 12 months. Wholesale receivables at October 31, 2021 and November 1, 2020 totaled $5,951.3 million and $7,093.3 million, respectively. The Company purchases certain wholesale trade receivables from John Deere, which are included within the wholesale receivable balances above. These trade receivables arise from John Deere’s sales of goods to independent dealers. Under the terms of the sales to dealers, interest is primarily charged to dealers on outstanding balances, from the earlier of the date when goods are sold to retail customers by the dealer or the expiration of certain interest-free periods granted at the time of the sale to the dealer, until payment is received by the Company. Dealers cannot cancel purchases after John Deere recognizes a sale and are responsible for payment even if the equipment is not sold to retail customers. The interest-free periods are determined based on the type of equipment sold and the time of year of the sale. These periods range from one Financing Leases The Company leases agriculture and turf equipment and construction and forestry equipment directly to retail customers. Leases classified as sales-type or direct financing leases are reported in financing leases on the consolidated balance sheet. See Note 7 to the Consolidated Financial Statements for detailed disclosures related to financing leases. Concentration of Credit Risk Receivables have significant concentrations of credit risk in the agriculture and turf and construction and forestry markets as shown in the previous tables. On a geographic basis, there is not a disproportionate concentration of credit risk in any area. The Company generally secures its Receivables, other than certain revolving charge accounts, by retaining as collateral a security interest in the goods associated with those Receivables or with the use of other collateral.

Allowance for Credit Losses and

Allowance for Credit Losses and Credit Quality of Receivables	12 Months Ended
	Oct. 31, 2021
Allowance for Credit Losses and Credit Quality of Receivables
Allowance for Credit Losses and Credit Quality of Receivables	Note 5. Allowance for Credit Losses and Credit Quality of Receivables Credit Quality The Company monitors the credit quality of Receivables based on delinquency status. Past due balances of Receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date. Non-performing Receivables represent receivables for which the Company has ceased accruing finance income. Generally, when retail notes revolving charge accounts Receivable balances are written off to the allowance for credit losses when, in the judgment of management, they are considered uncollectible. Generally, when retail notes Due to the economic effects of COVID, the Company provided short-term payment relief to dealers and retail customers during 2020, and to a much lesser extent in 2021. The relief was provided in regional programs and on a case-by-case basis with customers that were generally current in their payment obligations. This relief generally included payment deferrals or reduced financing rates of three months or less. Receivables granted relief since the beginning of the pandemic that remained outstanding at October 31, 2021 represented approximately 2 percent of the Receivables balance. The majority of Receivables granted short-term relief are beyond the deferral period and have either resumed making payments or are reported as delinquent based on the modified payment schedule. The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, Customer Receivables) at October 31, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 11,318.1 ​ $ 5,719.1 ​ $ 2,842.5 ​ $ 1,431.0 ​ $ 582.8 ​ $ 119.9 ​ $ 3,620.9 ​ $ 25,634.3 30-59 days past due ​ ​ 34.7 ​ ​ 47.5 ​ ​ 24.2 ​ ​ 13.7 ​ ​ 5.9 ​ ​ 2.9 ​ ​ 13.1 ​ ​ 142.0 60-89 days past due ​ ​ 12.8 ​ ​ 17.4 ​ ​ 8.4 ​ ​ 5.1 ​ ​ 2.4 ​ ​ .7 ​ ​ 3.2 ​ ​ 50.0 90+ days past due ​ ​ .5 ​ ​ .5 ​ ​ .1 ​ ​ .2 ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ 1.4 Non-performing ​ ​ 20.1 ​ ​ 44.5 ​ ​ 26.4 ​ ​ 22.3 ​ ​ 10.6 ​ ​ 12.5 ​ ​ 6.4 ​ ​ 142.8 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,356.4 ​ ​ 1,198.5 ​ ​ 573.5 ​ ​ 215.6 ​ ​ 42.5 ​ ​ 5.4 ​ ​ 92.3 ​ ​ 4,484.2 30-59 days past due ​ ​ 36.6 ​ ​ 33.0 ​ ​ 21.1 ​ ​ 5.8 ​ ​ 2.0 ​ ​ .1 ​ ​ 2.7 ​ ​ 101.3 60-89 days past due ​ ​ 12.5 ​ ​ 8.4 ​ ​ 5.0 ​ ​ 2.6 ​ ​ .5 ​ ​ .2 ​ ​ 1.0 ​ ​ 30.2 90+ days past due ​ ​ .1 ​ ​ .4 ​ ​ .9 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ 1.5 Non-performing ​ ​ 21.9 ​ ​ 50.0 ​ ​ 33.9 ​ ​ 15.1 ​ ​ 6.3 ​ ​ 2.9 ​ ​ .5 ​ ​ 130.6 Total Customer Receivables ​ $ 13,813.7 ​ $ 7,119.3 ​ $ 3,536.0 ​ $ 1,711.4 ​ $ 653.2 ​ $ 144.6 ​ $ 3,740.1 ​ $ 30,718.3 ​ The credit quality analysis of Customer Receivables at November 1, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ ​ Retail Notes & Financing Leases ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 18,341.2 ​ $ 3,710.3 ​ $ 22,051.5 30-59 days past due ​ ​ 111.4 ​ ​ 11.5 ​ ​ 122.9 60-89 days past due ​ ​ 47.6 ​ ​ 3.5 ​ ​ 51.1 90+ days past due ​ ​ 2.0 ​ ​ ​ ​ ​ 2.0 Non-performing ​ ​ 172.7 ​ ​ 5.4 ​ ​ 178.1 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 3,759.5 ​ ​ 92.3 ​ ​ 3,851.8 30-59 days past due ​ ​ 82.0 ​ ​ 2.4 ​ ​ 84.4 60-89 days past due ​ ​ 38.8 ​ ​ 1.1 ​ ​ 39.9 90+ days past due ​ ​ 1.9 ​ ​ ​ ​ ​ 1.9 Non-performing ​ ​ 79.5 ​ ​ .9 ​ ​ 80.4 Total Customer Receivables ​ $ 22,636.6 ​ $ 3,827.4 ​ $ 26,464.0 ​ The credit quality analysis of wholesale receivables at October 31, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 339.6 ​ $ 77.1 ​ $ 21.1 ​ $ 9.2 ​ $ 2.7 ​ $ .4 ​ $ 4,233.4 ​ $ 4,683.5 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.0 ​ ​ 6.0 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.2 ​ ​ 2.2 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.8 ​ ​ 3.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.7 ​ ​ 6.7 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 39.4 ​ ​ 4.0 ​ ​ 3.4 ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ 1,199.6 ​ ​ 1,246.7 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.3 ​ ​ 1.3 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .9 ​ ​ .9 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .2 ​ ​ .2 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 379.0 ​ $ 81.1 ​ $ 24.5 ​ $ 9.5 ​ $ 2.7 ​ $ .4 ​ $ 5,454.1 ​ $ 5,951.3 ​ The credit quality analysis of wholesale receivables at November 1, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ November 1, 2020 Wholesale receivables: ​ ​ Agriculture and turf ​ ​ ​ Current ​ $ 5,693.7 30-59 days past due ​ ​ 3.9 60-89 days past due ​ ​ 4.4 90+ days past due ​ ​ 1.1 Non-performing ​ ​ 4.0 Construction and forestry ​ ​ ​ Current ​ ​ 1,385.9 30-59 days past due ​ ​ .3 60-89 days past due ​ ​ ​ 90+ days past due ​ ​ ​ Non-performing ​ ​ ​ Total wholesale receivables ​ $ 7,093.3 ​ Allowance for Credit Losses The allowance for credit losses is an estimate of the credit losses expected over the life of the Company’s Receivable portfolio. The Company measures expected credit losses on a collective basis when similar risk characteristics exist. Risk characteristics considered by the Company include product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. Non-performing Receivables are included in the estimate of expected credit losses. The Company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex Customer Receivable pools, while WARM models are used for smaller and less complex Customer Receivable pools. Transition matrix models, which are used for the majority of the Customer Receivables, estimate credit losses using historical delinquency and default information to assign probabilities that a receivable will pay as contractually scheduled or become delinquent and advance through the various delinquency stages. The model simulates the runoff of the portfolio, month-by-month, over the life of the receivables until the balances are fully repaid or default, using roll rates applied to the outstanding portfolio. The roll rates are applied based on the delinquency status of the customer accounts and are further segmented based on the credit risk and remaining duration of the underlying receivables. Estimated recovery rates are applied to the balance at default to calculate the expected credit losses. The modeled expected credit losses are adjusted based on reasonable and supportable forecasts, which may include economic indicators such as commodity prices, industry equipment sales, unemployment rates, and housing starts. The WARM models apply historical average annual loss rates, adjusted for current and forecasted economic conditions, to the projected portfolio runoff. Expected credit losses on wholesale receivables are based on historical loss rates, with consideration of current economic conditions and dealer financial risk, along with reasonable and supportable forecasts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary. Recoveries from freestanding credit enhancements, such as dealer deposits and certain credit insurance contracts, are not included in the estimate of expected credit losses. Recoveries from dealer deposits are recognized in other income on the statement of consolidated income when the dealer’s withholding account is charged. During the year ended October 31, 2021, $14.3 million was recorded in other income related to recoveries from freestanding credit enhancements. Prior to the adoption of ASU No. 2016-13, the allowance for credit losses was estimated on probable credit losses incurred after consideration of expected recoveries from freestanding credit enhancements. An analysis of the allowance for credit losses and investment in Receivables at October 31, 2021, November 1, 2020, and November 3, 2019 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Notes Revolving ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption (see Note 3) ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ 19.7 ​ Provision (credit) for credit losses * ​ 11.8 ​ ​ (17.0) ​ ​ 2.5 ​ (2.7) ​ Write-offs ​ (36.7) ​ ​ (27.8) ​ ​ (.3) ​ (64.8) ​ Recoveries ​ 11.6 ​ ​ 35.5 ​ ​ ​ ​ 47.1 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .2 ​ .6 ​ End of year balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 26,978.2 ​ $ 3,740.1 ​ $ 5,951.3 ​ $ 36,669.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 53.7 ​ $ 39.3 ​ $ 7.6 ​ $ 100.6 ​ Provision (credit) for credit losses ​ 66.2 ​ ​ 25.1 ​ ​ (1.9) ​ 89.4 ​ Write-offs ​ (49.1) ​ ​ (51.6) ​ ​ (.9) ​ (101.6) ​ Recoveries ​ 6.4 ​ ​ 29.5 ​ ​ 1.3 ​ 37.2 ​ Translation adjustments ​ (.3) ​ ​ ​ ​ ​ 3.8 ​ 3.5 ​ End of year balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 22,636.6 ​ $ 3,827.4 ​ $ 7,093.3 ​ $ 33,557.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 56.4 ​ $ 42.3 ​ $ 8.0 ​ $ 106.7 ​ Provision (credit) for credit losses ​ 21.0 ​ ​ 28.6 ​ ​ (4.2) ​ 45.4 ​ Write-offs ​ (31.1) ​ ​ (56.9) ​ ​ (.3) ​ (88.3) ​ Recoveries ​ 7.6 ​ ​ 25.3 ​ ​ 4.1 ​ 37.0 ​ Translation adjustments ​ (.2) ​ ​ ​ ​ ​ ​ ​ (.2) ​ End of year balance ​ $ 53.7 ​ $ 39.3 ​ $ 7.6 ​ $ 100.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 20,251.7 ​ $ 3,863.0 ​ $ 8,706.8 ​ $ 32,821.5 ​ * Excludes provision for credit losses on unfunded commitments of $1.8 million for the year ended October 31, 2021. The estimated credit losses related to unfunded commitments are recorded in accounts payable and accrued expenses on the consolidated balance sheet. As a result of the adoption of ASU No. 2016-13, the allowance for credit losses increased $19.7 million at the beginning of 2021. Subsequent to the adoption of ASU No. 2016-13, the allowance decreased $19.8 million during 2021, primarily due to a reduction in the allowance on construction and forestry retail notes and financing leases and a lower allowance on revolving charge accounts. The allowance on construction and forestry retail notes and financing leases decreased due to improving market conditions and better than expected performance of accounts granted payment relief due to the economic effects of COVID, while the allowance on revolving charge accounts was favorably impacted by strong payment performance due to continued improvements in the agriculture and turf market. These decreases were partially offset by growth in the retail notes and financing leases portfolio. During 2020, the allowance for credit losses increased primarily due to the negative economic effects related to COVID and other macroeconomic issues, which significantly affected certain retail borrowers, particularly of construction equipment. Total Receivables 30 days or more past due, non-performing Receivables, and the allowance for credit losses were as follows (in millions of dollars and as a percentage of the Receivables balance): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ ​ Dollars ​ Percent Dollars ​ Percent Receivables 30 days or more past due * ​ $ 340.8 ​ .93 % $ 311.9 ​ .93 % Non-performing Receivables * ​ ​ 280.1 ​ .76 ​ ​ 262.5 ​ .78 ​ Allowance for credit losses ​ ​ 129.0 ​ .35 ​ ​ 129.1 ​ .38 ​ ​ * The delinquency status of Receivables granted payment relief due to COVID is based on the modified payment schedule. At October 31, 2021 and November 1, 2020, the Company had $128.8 million and $110.1 million, respectively, of deposits primarily withheld from John Deere dealers and merchants available as credit enhancements. Troubled Debt Restructuring A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity date, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest. During 2021, 2020, and 2019, the Company identified 326, 468, and 328 Receivable contracts, primarily retail notes, as troubled debt restructurings with aggregate balances of $12.0 million, $19.0 million, and $14.6 million pre-modification and $10.7 million, $17.4 million, and $13.7 million post-modification, respectively. The short-term relief related to COVID previously discussed did not meet the definition of a troubled debt restructuring. In 2021, 2020 and 2019, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At October 1, 2021, the Company had no commitments to provide additional financing to customers whose accounts were modified in troubled debt restructurings. Write-offs Total write-offs and recoveries, by product, and as a percentage of average balances held during the year, were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 ​ Dollars Percent Dollars Percent Dollars Percent Write-offs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ $ (18.6) (.09) % $ (15.2) (.09) % $ (9.9) (.06) % Construction and forestry ​ (18.1) (.42) ​ (33.9) (.94) ​ (21.2) (.65) ​ Total retail notes & financing leases ​ (36.7) (.15) ​ (49.1) (.24) ​ (31.1) (.15) ​ Revolving charge accounts ​ (27.8) (.85) ​ (51.6) (1.51) ​ (56.9) (1.65) ​ Wholesale receivables ​ (.3) ​ ​ (.9) (.01) ​ (.3) ​ ​ Total write-offs ​ (64.8) (.19) ​ (101.6) (.31) ​ (88.3) (.27) ​ Recoveries: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ 9.2 .05 ​ 4.6 .03 ​ 6.1 .04 ​ Construction and forestry ​ 2.4 .06 ​ 1.8 .05 ​ 1.5 .05 ​ Total retail notes & financing leases ​ 11.6 .05 ​ 6.4 .03 ​ 7.6 .04 ​ Revolving charge accounts ​ 35.5 1.08 ​ 29.5 .86 ​ 25.3 .73 ​ Wholesale receivables ​ ​ ​ ​ 1.3 .02 ​ 4.1 .04 ​ Total recoveries ​ 47.1 .14 ​ 37.2 .11 ​ 37.0 .11 ​ Total net write-offs ​ $ (17.7) (.05) % $ (64.4) (.20) % $ (51.3) (.16) % ​

Securitization of Receivables

Securitization of Receivables	12 Months Ended
	Oct. 31, 2021
Securitization of Receivables
Securitization of Receivables	Note 6. Securitization of Receivables The Company, as a part of its overall funding strategy, periodically transfers certain Receivables (retail notes) into VIEs that are SPEs, or non-VIE banking operations, as part of its asset-backed securities programs (securitizations). The structure of these transactions is such that the transfer of the retail notes does not meet the accounting criteria for sales of receivables, and is, therefore, accounted for as a secured borrowing. SPEs utilized in securitizations of retail notes differ from other entities included in the Company’s consolidated statements because the assets they hold are legally isolated. Use of the assets held by the SPEs or the non-VIEs is restricted by terms of the documents governing the securitization transactions. In these securitizations, the retail notes are transferred to certain SPEs, which in turn issue debt to investors, or to non-VIE banking operations, which provide funding directly to the Company. The funding provided by these third parties result in secured borrowings, which are recorded as “Securitization borrowings” on the consolidated balance sheet. The securitized retail notes are recorded as “Retail notes securitized” on the consolidated balance sheet. The total restricted assets on the consolidated balance sheet related to these securitizations include the retail notes securitized less an allowance for credit losses, and other assets primarily representing restricted cash. Restricted cash results from contractual requirements in securitized borrowing arrangements and serves as a credit enhancement. The restricted cash is used to satisfy payment deficiencies, if any, in the required payments on secured borrowings. The balance of restricted cash is contractually stipulated and is either a fixed amount as determined by the initial balance of the retail notes securitized or a fixed percentage of the outstanding balance of the retail notes securitized. The restriction is removed either after all secured borrowing payments are made or proportionally as these receivables are collected and borrowing obligations reduced. For those securitizations in which retail notes are transferred into SPEs, the SPEs supporting the secured borrowings are consolidated unless the Company does not have both the power to direct the activities that most significantly impact the SPEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the SPEs. No additional support to these SPEs beyond what was previously contractually required has been provided during the reporting periods. In certain securitizations, the Company consolidates the SPEs since it has both the power to direct the activities that most significantly impact the SPEs’ economic performance through its role as servicer of all the Receivables held by the SPEs, and the obligation through variable interests in the SPEs to absorb losses or receive benefits that could potentially be significant to the SPEs. The restricted assets (retail notes securitized, allowance for credit losses, and other assets) of the consolidated SPEs totaled $3,093.6 million and $2,897.5 million at October 31, 2021 and November 1, 2020, respectively. The liabilities (securitization borrowings and accrued interest) of these SPEs totaled $3,024.0 million and $2,856.2 million at October 31, 2021 and November 1, 2020, respectively. The credit holders of these SPEs do not have legal recourse to the Company’s general credit. The Company has a revolving credit agreement to utilize bank conduit facilities to secure retail notes, described further in the following paragraphs. At October 31, 2021, the revolving credit agreement had a total capacity, or “financing limit,” of up to $2,000.0 million of secured financings at any time. The agreement was renewed in November 2021 with an expiration in November 2022 and a capacity of $1,000.0 million. As a result of the reduced capacity, the Company repurchased $511.1 million of outstanding short-term securitization borrowings in November 2021, in addition to the normal monthly liquidations as a result of payments collected on the retail notes. Through the revolving credit agreement, the Company transfers retail notes into bank-sponsored, multi-seller, commercial paper conduits, which are SPEs that are not consolidated. The Company does not service a significant portion of the conduits’ receivables, and therefore, does not have the power to direct the activities that most significantly impact the conduits’ economic performance. These conduits provide a funding source to the Company (as well as other transferors into the conduit) as they fund the retail notes through the issuance of commercial paper. The Company’s carrying values and variable interest related to these conduits were restricted assets (retail notes securitized, allowance for credit losses, and other assets) of $1,175.8 million and $1,327.3 million at October 31, 2021 and November 1, 2020, respectively. The liabilities (securitization borrowings and accrued interest) related to these conduits were $1,112.8 million and $1,275.1 million at October 31, 2021 and November 1, 2020, respectively. The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets at October 31, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ 2021 Carrying value of liabilities ​ $ 1,112.8 ​ Maximum exposure to loss ​ 1,175.8 ​ ​ The total assets of the unconsolidated conduits related to securitizations were approximately $40 billion at October 31, 2021. In addition, through the revolving credit agreement, the Company transfers retail notes to banks, which may elect to fund the retail notes through the use of their own funding sources. These non-VIE banking operations are not consolidated since the Company does not have a controlling interest in them. The Company’s carrying values and interests related to the securitizations with the unconsolidated non-VIEs were restricted assets (retail notes securitized, allowance for credit losses, and other assets) of $486.1 million and $549.7 million at October 31, 2021 and November 1, 2020, respectively. The liabilities (securitization borrowings and accrued interest) were $460.1 million and $528.1 million at October 31, 2021 and November 1, 2020, respectively. The components of consolidated restricted assets related to secured borrowings in securitization transactions at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Retail notes securitized ​ $ 4,662.4 ​ $ 4,689.2 ​ Allowance for credit losses ​ (13.5) ​ (12.6) ​ Other assets ​ 106.6 ​ 97.9 ​ Total restricted securitized assets ​ $ 4,755.5 ​ $ 4,774.5 ​ ​ The components of consolidated secured borrowings and other liabilities related to securitizations at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Securitization borrowings ​ $ 4,595.2 ​ $ 4,656.2 ​ Accrued interest on borrowings ​ 1.7 ​ 3.2 ​ Total liabilities related to restricted securitized assets ​ $ 4,596.9 ​ $ 4,659.4 ​ ​ The secured borrowings related to these restricted securitized retail notes are obligations that are payable as the retail notes are liquidated. Repayment of the secured borrowings depends primarily on cash flows generated by the restricted assets. Due to the Company’s short-term credit rating, cash collections from these restricted assets are not required to be placed into a segregated collection account until immediately prior to the time payment is required to the secured creditors. At October 31, 2021, the maximum remaining term of all restricted securitized retail notes was approximately seven years.

Leases

Leases	12 Months Ended
	Oct. 31, 2021
Leases
Leases	Note 7. Leases The Company leases John Deere equipment and a limited amount of non-John Deere equipment to retail customers through sales-type, direct financing, and operating leases. Sales-type and direct financing leases are reported in financing leases on the consolidated balance sheet. Operating leases are reported in equipment on operating leases – net on the consolidated balance sheet. Initial lease terms generally range from less than one year to seven years. Leases offered by the Company may include early termination and renewal options. At the end of a lease, the lessee generally has the option to purchase the underlying equipment for a fixed price or return it to the dealer. If the equipment is returned to the dealer, the dealer also has the option to purchase the equipment or return it to the Company for remarketing. The Company has elected to combine lease and nonlease components. The nonlease components primarily relate to preventative maintenance and extended warranty agreements financed by the customer. The Company has also elected to report consideration related to sales and value-added taxes net of the related tax expense. Property taxes on leased assets are recorded on a gross basis in lease revenues and administrative and operating expenses on the statement of consolidated income. Variable lease revenues primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees. Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 Sales-type and direct financing lease revenues ​ $ 48.6 ​ $ 46.0 Operating lease revenues ​ ​ 953.0 ​ ​ 1,022.5 Variable lease revenues ​ 26.9 ​ 28.6 Total lease revenues ​ $ 1,028.5 ​ $ 1,097.1 Variable lease revenues reported above includes excess use and damage fees of $6.5 million and $8.2 million for 2021 and 2020, respectively, which were reported in other income on the statement of consolidated income. Deposits withheld from John Deere dealers and related credit losses on leases are handled in a manner similar to the procedures for retail notes. As with retail notes, there are generally no deposits withheld from dealers on leases related to construction and forestry equipment. In addition, a lease payment discount program, allowing reduced payments over the term of the lease, is administered in a manner similar to finance waivers on retail notes (see Note 4). During 2021, 2020, and 2019, the finance income earned from John Deere on sales-type and direct financing leases containing waiver of finance charges or reduced rates was $3.7 million, $3.3 million, and $3.5 million, respectively. The operating lease revenue earned from John Deere during 2021, 2020, and 2019 was $47.1 million, $57.2 million, and $42.9 million, respectively. Financing Leases Sales-type and direct financing lease receivables by market at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 Agriculture and turf ​ $ 500.8 ​ $ 447.5 Construction and forestry ​ ​ 168.2 ​ 152.7 Total ​ ​ 669.0 ​ ​ 600.2 Guaranteed residual values ​ ​ 359.7 ​ ​ 240.8 Unguaranteed residual values ​ ​ 33.7 ​ ​ 32.6 Unearned finance income ​ (90.1) ​ ​ (84.2) Financing leases receivable ​ $ 972.3 ​ $ 789.4 ​ At the time of accepting a lease that qualifies as a sales-type or direct financing lease, the Company records the gross amount of lease payments receivable, estimated residual value of the leased equipment, and unearned finance income. The unearned finance income is recognized as revenue over the lease term using the interest method. Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at October 31, 2021 were as follows (in millions of dollars): ​ ​ ​ ​ Due in: ​ ​ ​ 2022 ​ $ 522.9 2023 ​ ​ 222.0 2024 ​ ​ 151.1 2025 ​ ​ 82.7 2026 ​ ​ 37.8 Later years ​ 12.2 Total ​ $ 1,028.7 ​ Operating Leases The cost of equipment on operating leases by market at October 31, 2021 and November 1, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 Agriculture and turf ​ $ 5,053.4 ​ $ 5,210.4 Construction and forestry ​ ​ 1,323.6 ​ 1,595.3 Total ​ ​ 6,377.0 ​ ​ 6,805.7 Accumulated depreciation ​ (1,429.4) ​ ​ (1,507.9) Equipment on operating leases - net ​ $ 4,947.6 ​ $ 5,297.8 ​ Lease payments from equipment on operating leases are recorded as income on a straight-line method over the lease term. Operating lease assets are recorded at cost and depreciated to their estimated residual value on a straight-line method over the term of the leases. Lease agreements include usage limits and specifications on machine condition, which allow the Company to assess lessees for excess use or damages to the underlying equipment. Lease payments for equipment on operating leases at October 31, 2021 were scheduled as follows (in millions of dollars): ​ ​ ​ ​ Due in: ​ ​ ​ 2022 ​ $ 685.6 2023 ​ ​ 434.9 2024 ​ ​ 229.7 2025 ​ ​ 106.5 2026 ​ ​ 23.5 Later years ​ 4.0 Total ​ $ 1,484.2 ​ The Company estimates the residual values for operating leases at lease inception based on several factors, including lease term, expected hours of usage, historical wholesale sale prices, return experience, intended use of the equipment, market dynamics and trends, and third-party residual guarantees. The Company reviews residual value estimates during the lease term and tests the carrying value of its operating lease assets for impairment when events or circumstances necessitate. The depreciation is adjusted prospectively on a straight-line basis over the remaining lease term if residual value estimates are revised. There were no impairment losses on operating leases recorded during 2021. During 2020, the Company recorded impairment losses on operating leases of $21.0 million due to higher expected return rates and lower estimated values of used construction equipment. During 2019, the Company recorded impairment losses on operating leases of $59.4 million due to lower estimated values of used agriculture and construction equipment. Operating lease impairments are recorded in administrative and operating expenses on the statement of consolidated income. The total operating lease residual values at October 31, 2021 and November 1, 2020 were $3,547.6 million and $3,826.3 million, respectively. Certain operating leases are subject to residual value guarantees. The total residual value guarantees were $295.8 million and $141.0 million at October 31, 2021 and November 1, 2020, respectively. The increase in residual value guarantees is primarily due to guarantees provided by John Deere dealers, which generally provide a first-loss residual value guarantee on operating lease originations effective after January 2020. The residual value guarantees at October 31, 2021 and November 1, 2020 include $3.0 million and $4.7 million, respectively, of deposits withheld from John Deere dealers, which are available for potential losses on residual values. The Company discusses with lessees and dealers options to purchase the equipment or extend the lease prior to lease maturity. Equipment returned to the Company upon termination of leases is remarketed by the Company. The matured operating lease inventory balances at October 31, 2021 and November 1, 2020 were $25.4 million and $64.5 million, respectively. Matured operating lease inventory is reported in other assets on the consolidated balance sheet. During 2020, the Company recorded impairment losses on matured operating lease inventory of $9.8 million due to lower estimated values of used construction equipment. During 2019, the Company recorded impairment losses on matured operating lease inventory of $18.0 million. There were no impairment losses on matured operating lease inventory in 2021. Impairment losses on matured operating lease inventory are included in administrative and operating expenses on the statement of consolidated income. Past due balances of operating leases represent the total balance held (net book value plus accrued lease payments) and still accruing finance income with any payment amounts 30 days or more past the contractual payment due date. These amounts were $53.9 million and $61.3 million at October 31, 2021 and November 1, 2020, respectively. The delinquency status of operating leases granted relief due to COVID, as described below, is based on the modified payment schedule. Due to the economic effects of COVID, the Company provided short-term payment relief to lessees during 2020, and to a much lesser extent in 2021. The relief, which generally included payment deferrals of three months or less, was provided in regional programs and on a case-by-case basis with customers that were generally current in their payment obligations. The operating leases granted relief since the beginning of the pandemic that remained outstanding at October 31, 2021 represented approximately 2 percent of the Company’s operating lease portfolio. The majority of operating leases granted short-term relief are beyond the deferral period and have resumed making payments.

Notes Receivable from and Payab

Notes Receivable from and Payable to John Deere	12 Months Ended
	Oct. 31, 2021
Notes Receivable from and Payable to John Deere
Notes Receivable from and Payable to John Deere	Note 8. Notes Receivable from and Payable to John Deere The Company makes loans to affiliated companies. The Company receives interest from John Deere at competitive market interest rates. The lending agreements mature over the next seven years. Interest earned from John Deere was $15.4 million, $16.6 million, and $17.4 million in 2021, 2020, and 2019, respectively, which is recorded in other income. The Company had notes receivable from John Deere at October 31, 2021 and November 1, 2020 with the following affiliated companies as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Limited Liability Company John Deere Financial ​ $ 233.7 ​ $ 132.5 ​ Banco John Deere S.A. ​ ​ 159.8 ​ ​ 217.5 ​ Total Notes Receivable from John Deere ​ $ 393.5 ​ $ 350.0 ​ ​ The Company also obtains funding from affiliated companies. At October 31, 2021 and November 1, 2020, the Company had notes payable to John Deere of $5,619.4 million and $5,249.5 million, respectively. The intercompany borrowings are primarily short-term in nature or contain a due on demand call option. At October 31, 2021, the Company had $584.0 million of long-term intercompany loans without a due on demand call option, which mature in 2024. The Company pays interest to John Deere for these borrowings based on competitive market rates. The weighted-average interest rates on total intercompany borrowings at October 31, 2021 and November 1, 2020 were 1.2 percent and .7 percent, respectively. Interest expense paid to John Deere was $53.0 million, $18.1 million, and $17.0 million in 2021, 2020, and 2019, respectively, which is recorded in fees paid to John Deere. ​

Short-Term External Borrowings

Short-Term External Borrowings	12 Months Ended
	Oct. 31, 2021
Short-Term External Borrowings
Short-Term External Borrowings	Note 9. Short-Term External Borrowings Short-term external borrowings of the Company at October 31, 2021 and November 1, 2020 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Commercial paper and other notes payable ​ $ 678.9 ​ $ 187.5 ​ Securitization borrowings ​ 4,595.2 ​ 4,656.2 ​ Current maturities of long-term external borrowings * ​ 5,819.1 ​ 5,741.6 ​ Total ​ $ 11,093.2 ​ $ 10,585.3 ​ ​ * Includes unamortized fair value adjustments related to interest rate swaps. Securitization borrowings are secured by retail notes securitized on the balance sheet (see Note 6) and presented net of debt acquisition costs. Although these securitization borrowings are classified as short-term since payment is required if the retail notes are liquidated early, the expected payment schedule for these borrowings at October 31, 2021 based on the expected liquidation of the retail notes in millions of dollars is as follows: 2022 - $2,546.1, 2023 - $1,149.9, 2024 -$623.1, 2025 - $231.1, 2026 - $44.3, and later years - $6.5. The weighted-average interest rates on total short-term external borrowings, excluding current maturities of long-term external borrowings, at October 31, 2021 and November 1, 2020, were .8 percent and 1.6 percent, respectively. Lines of credit available from U.S. and foreign banks were $8,016.0 million at October 31, 2021. Some of these credit lines are available to both the Company and Deere & Company. At October 31, 2021, $5,770.3 million of these worldwide lines of credit were unused. For the purpose of computing the unused credit lines, commercial paper and short-term bank borrowings, excluding secured borrowings and the current portion of long-term external borrowings, of the Company and John Deere were primarily considered to constitute utilization. Included in the total credit lines at October 31, 2021 was a 364-day credit facility agreement of $3,000.0 million, expiring in fiscal April 2022. In addition, total credit lines included long-term credit facility agreements of $2,500.0 million, expiring in fiscal April 2025, and $2,500.0 million, expiring in fiscal March 2026. The agreements are mutually extendable and the annual facility fees are not significant. These credit agreements require the Company to maintain its consolidated ratio of earnings to fixed charges at not less than 1.05 to 1 for each fiscal quarter and the ratio of senior debt, excluding securitization indebtedness, to capital base (total subordinated debt and stockholder’s equity excluding accumulated other comprehensive income (loss)) at not more than 11 to 1 at the end of any fiscal quarter. “Senior debt” consists of the Company’s total interest-bearing obligations, excluding subordinated debt and certain securitization indebtedness, but including notes payable to John Deere. All of the requirements of the credit agreements have been met during the periods included in the consolidated financial statements. The facility fees on these lines of credit are divided between Deere & Company and the Company based on the proportion of their respective forecasted liquidity requirements. Deere & Company has an agreement with Capital Corporation pursuant to which it has agreed to continue to own, directly or through one or more wholly-owned subsidiaries, at least 51 percent of the voting shares of capital stock of Capital Corporation and to maintain the Company’s consolidated tangible net worth at not less than $50.0 million. This agreement also obligates Deere & Company to make payments to Capital Corporation such that its consolidated ratio of earnings to fixed charges is not less than 1.05 to 1 for each fiscal quarter. Deere & Company’s obligations to make payments to Capital Corporation under the agreement are independent of whether the Company is in default on its indebtedness, obligations, or other liabilities. Further, Deere & Company’s obligations under the agreement are not measured by the amount of the Company’s indebtedness, obligations, or other liabilities. Deere & Company’s obligations to make payments under this agreement are expressly stated not to be a guaranty of any specific indebtedness, obligation, or liability of the Company and are enforceable only by or in the name of Capital Corporation. No payments were required under this agreement during the periods included in the consolidated financial statements. At October 31, 2021, Deere & Company indirectly owned 100 percent of the voting shares of Capital Corporation’s capital stock and Capital Corporation’s consolidated tangible net worth was $4,524.4 million.

Long-Term External Borrowings

Long-Term External Borrowings	12 Months Ended
	Oct. 31, 2021
Long-Term External Borrowings
Long-Term External Borrowings	Note 10. Long-Term External Borrowings Long-term external borrowings of the Company at October 31, 2021 and November 1, 2020 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Senior Debt: ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 20,649.2 ​ $ 19,320.6 ​ Other notes ​ 15.6 ​ 38.2 ​ Total senior debt ​ 20,664.8 ​ 19,358.8 ​ Unamortized debt discount and debt issuance costs ​ (57.5) ​ (47.7) ​ Total ​ $ 20,607.3 ​ $ 19,311.1 ​ ​ The medium-term notes in the table above include unamortized fair value adjustments related to interest rate swaps. The principal balance of the medium-term notes was $20,378.2 million and $18,668.9 million at October 31, 2021 and November 1, 2020, respectively, and have maturity dates through 2031. The weighted-average interest rate of medium-term notes at October 31, 2021 and November 1, 2020 was 1.1 percent and 1.6 percent, respectively, and includes both fixed and variable rates. The principal amounts of long-term external borrowings maturing in each of the next five years, in millions of dollars, are as follows: 2022 - $5,820.8, 2023 - $5,969.3, 2024 - $4,999.4, 2025 - $1,775.1, and 2026 - $2,800.0.

Capital Stock

Capital Stock	12 Months Ended
	Oct. 31, 2021
Capital Stock
Capital Stock	Note 11. Capital Stock All of Capital Corporation’s common stock is owned by JDFS, a wholly-owned finance holding subsidiary of Deere & Company. No shares of common stock of Capital Corporation were reserved for officers or employees or for options, warrants, conversions, or other rights at October 31, 2021 or November 1, 2020. At October 31, 2021 and November 1, 2020, Capital Corporation had authorized, but not issued, 10,000 shares of $1 par value preferred stock.

Dividends

Dividends	12 Months Ended
	Oct. 31, 2021
Dividends
Dividends	Note 12. Dividends In 2021, 2020, and 2019, Capital Corporation declared and paid cash dividends of $485.0 million, $275.0 million, and $330.0 million, respectively, to JDFS. In each case, JDFS paid comparable dividends to Deere & Company.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	12 Months Ended
	Oct. 31, 2021
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits	Note 13. Pension and Other Postretirement Benefits The Company is a participating employer in certain Deere & Company sponsored defined benefit pension plans for employees in the U.S. and certain defined benefit pension plans outside the U.S. These pension plans provide for benefits that are based primarily on years of service and employee compensation. Pension expense is actuarially determined based on the Company’s employees included in the plan. The Company’s pension expense was not significant in 2021, 2020, or 2019. The accumulated benefit obligation and plan net assets for the employees of the Company are not determined separately from Deere & Company. The Company provides defined benefit health care and life insurance plans for certain retired employees in the U.S. as a participating employer in Deere & Company’s sponsored plans. Health care and life insurance benefits expense is actuarially determined based on the Company’s employees included in the plans and amounted to $6.1 million in 2021, $12.3 million in 2020, and $4.3 million in 2019. The decrease in 2021 from 2020 is primarily due to curtailment losses of $5.5 million in 2020 related to voluntary employee-separation programs (see Note 22). Further disclosure for these plans is included in the notes to the Deere & Company 2021 Annual Report on Form 10-K. The Company is a participating employer in certain Deere & Company sponsored defined contribution plans related to employee investment and savings plans primarily in the U.S. The Company’s contributions and costs under these plans were $11.8 million in 2021, $10.7 million in 2020, and $13.2 million in 2019. The contribution rate varies primarily based on Deere & Company’s performance in the prior year and employee participation in the plans.

Stock Option and Restricted Sto

Stock Option and Restricted Stock Awards	12 Months Ended
	Oct. 31, 2021
Stock Option and Restricted Stock Awards
Stock Option and Restricted Stock Awards	Note 14. Stock Option and Restricted Stock Awards Certain employees of the Company participate in Deere & Company share-based compensation plans. During 2021, 2020, and 2019, the total share-based compensation expense was $6.3 million, $6.2 million, and $6.9 million, respectively, with an income tax benefit recognized in net income of $1.5 million, $1.4 million, and $1.7 million, respectively. Further disclosure for these plans is included in the notes to the Deere & Company 2021 Annual Report on Form 10-K.

Income Taxes

Income Taxes	12 Months Ended
	Oct. 31, 2021
Income Taxes
Income Taxes	Note 15. Income Taxes The provision for income taxes by taxing jurisdiction and by significant component consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 231.4 ​ $ 273.2 ​ $ 351.1 ​ State ​ 15.2 ​ 9.0 ​ 1.9 ​ Foreign ​ 37.2 ​ 27.5 ​ 29.0 ​ Total current ​ 283.8 ​ 309.7 ​ 382.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ (69.7) ​ (179.1) ​ (279.9) ​ State ​ 2.2 ​ (4.1) ​ (.6) ​ Foreign ​ (15.8) ​ 7.6 ​ (6.0) ​ Total deferred ​ (83.3) ​ (175.6) ​ (286.5) ​ Provision for income taxes ​ $ 200.5 ​ $ 134.1 ​ $ 95.5 ​ ​ The taxable income of the Company is included in the consolidated U.S. income tax return of Deere & Company. Under a tax sharing agreement with Deere & Company, the Company’s provision for income taxes is generally recorded as if Capital Corporation and each of its subsidiaries filed separate income tax returns, with a modification for realizability of certain tax benefits. The difference between the provision for income taxes recorded by the Company and the provision for income taxes calculated on an unmodified, separate return basis was not material in 2021, 2020, or 2019. The amounts payable to Deere & Company under the tax sharing agreement at October 31, 2021 and November 1, 2020 were $9.6 million and $42.9 million, respectively. The tax sharing payable is included in accounts payable and accrued expenses on the consolidated balance sheet. A comparison of the statutory and effective income tax provision and reasons for related differences follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 U.S. federal income tax provision at a statutory rate (21 percent) ​ $ 190.8 ​ $ 116.9 ​ $ 107.7 ​ Increase (decrease) resulting from: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax liability remeasurement ​ ​ ​ ​ ​ ​ ​ ​ 4.8 ​ Deemed earnings repatriation tax ​ ​ ​ ​ ​ ​ ​ ​ (13.9) ​ Tax rates on foreign earnings ​ 5.5 ​ 5.8 ​ 4.4 ​ State and local income taxes, net of federal income tax benefit ​ 13.7 ​ 3.8 ​ 1.0 ​ Other - net ​ (9.5) ​ 7.6 ​ (8.5) ​ Provision for income taxes ​ $ 200.5 ​ $ 134.1 ​ $ 95.5 ​ ​ At October 31, 2021, accumulated earnings of $77.1 million in certain subsidiaries outside the U.S. are expected to remain indefinitely reinvested outside of the U.S. As such, a provision for foreign withholding taxes has not been made. Determination of the amount of foreign withholding tax liability on these unremitted earnings is not practicable. Deferred income taxes arise because there are certain items that are treated differently for financial accounting than for income tax reporting purposes. An analysis of deferred income tax assets and liabilities at October 31, 2021 and November 1, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Deferred Deferred Deferred Deferred ​ ​ Tax ​ Tax ​ Tax ​ Tax ​ ​ Assets ​ Liabilities ​ Assets ​ Liabilities Lease transactions ​ ​ ​ ​ $ 310.4 ​ ​ ​ ​ $ 404.6 ​ Tax over book depreciation ​ $ 1.1 ​ ​ ​ ​ ​ ​ 3.8 ​ Deferred retail note finance income ​ ​ ​ ​ 1.0 ​ ​ ​ ​ .8 ​ Accrual for retirement and other benefits ​ ​ 4.8 ​ ​ ​ ​ $ 6.2 ​ ​ ​ ​ Accrual for other employee benefits ​ ​ 15.9 ​ ​ ​ ​ ​ 12.1 ​ ​ ​ ​ Allowance for credit losses ​ ​ 31.9 ​ ​ ​ ​ ​ 37.1 ​ ​ ​ ​ Tax loss and tax credit carryforwards ​ 18.7 ​ ​ ​ ​ 25.3 ​ ​ ​ ​ Federal taxes on deferred state tax deductions ​ 7.4 ​ ​ ​ ​ 10.7 ​ ​ ​ ​ Miscellaneous accruals and other ​ 16.4 ​ ​ 8.2 ​ 13.5 ​ ​ 4.5 ​ Less valuation allowances ​ (9.0) ​ ​ ​ ​ (10.0) ​ ​ ​ ​ Deferred income tax assets and liabilities ​ $ 87.2 ​ $ 319.6 ​ $ 94.9 ​ $ 413.7 ​ ​ At October 31, 2021, tax loss and tax credit carryforwards of $18.7 million were available, with $15.2 million expiring from 2029 through 2038 and $3.5 million with an indefinite carryforward period. A reconciliation of the total amounts of unrecognized tax benefits at October 31, 2021, November 1, 2020, and November 3, 2019 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Beginning of year balance ​ $ 33.3 ​ $ 32.5 ​ $ 36.3 ​ Increases to tax positions taken during the current year ​ 11.2 ​ 7.4 ​ 6.9 ​ Increases to tax positions taken during prior years ​ 1.4 ​ 3.1 ​ .8 ​ Decreases to tax positions taken during prior years ​ (5.8) ​ (4.9) ​ (7.1) ​ Decreases due to lapse of statute of limitations ​ (3.7) ​ (4.8) ​ (4.4) ​ Settlements ​ ​ (1.5) ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 34.9 ​ $ 33.3 ​ $ 32.5 ​ ​ The amount of unrecognized tax benefits at October 31, 2021 and November 1, 2020 that would impact the effective tax rate if the tax benefits were recognized was $24.0 million and $17.2 million, respectively. The remaining liability was related to tax positions for which there are offsetting tax receivables, or the uncertainty was only related to timing. The Company expects that any reasonably possible change in the amounts of unrecognized tax benefits in the next twelve months would not be significant. The Company files its tax returns according to the tax laws of the jurisdictions in which it operates, which includes the U.S. federal jurisdiction, and various state and foreign jurisdictions. The Company is included in the consolidated U.S. income tax return and various state returns of Deere & Company. The U.S. Internal Revenue Service has completed the examination of Deere & Company’s federal income tax returns for periods prior to 2015. The federal income tax returns for years 2015, 2016, and 2017 are currently under examination. Various state and foreign income tax returns also remain subject to examination by taxing authorities. The Company’s policy is to recognize interest related to income taxes in interest expense and other income, and recognize penalties in administrative and operating expenses. During 2021, interest and penalties previously accrued were reversed when tax positions were effectively settled or adjusted, resulting in a $1.6 million net benefit. During 2020 and 2019, the total amount of expense from interest and penalties was $.5 million and none, respectively. The total amount of income from interest and penalties for 2020 and 2019 was $.7 million and $5.3 million, respectively, and none for 2021. At October 31, 2021 and November 1, 2020, the liability for accrued interest and penalties totaled $12.3 million and $14.6 million, respectively.

Other Income and Administrative

Other Income and Administrative and Operating Expenses	12 Months Ended
	Oct. 31, 2021
Other Income and Administrative and Operating Expenses
Other Income and Administrative and Operating Expenses	Note 16. Other Income and Administrative and Operating Expenses The major components of other income and administrative and operating expenses were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 Other income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fees from John Deere ​ $ 25.6 ​ $ 25.5 ​ $ 30.7 ​ Interest income ​ ​ 2.9 ​ ​ 13.8 ​ ​ 33.1 ​ Operating lease residual gains - net ​ ​ 65.0 ​ ​ ​ ​ ​ ​ ​ Freestanding credit enhancement recoveries * ​ ​ 14.3 ​ ​ ​ ​ ​ ​ ​ Other ​ 13.7 ​ 19.2 ​ 15.8 ​ Total ​ $ 121.5 ​ $ 58.5 ​ $ 79.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Compensation and benefits ​ $ 249.0 ​ $ 251.0 ​ $ 260.5 ​ Operating lease residual losses - net and impairments ​ ​ ​ ​ ​ 53.6 ​ ​ 159.5 ​ Computer processing and software ​ ​ 52.0 ​ ​ 47.2 ​ ​ 50.6 ​ Property taxes on leased assets ​ ​ 29.0 ​ ​ 30.0 ​ ​ 21.1 ​ Other ​ 76.0 ​ 88.8 ​ ​ 41.3 ​ Total ​ $ 406.0 ​ $ 470.6 ​ $ 533.0 ​ * As a result of the adoption of ASU No. 2016-13 in 2021, recoveries from freestanding credit enhancements are recognized in other income. Prior to the adoption of ASU No. 2016-13, recoveries from freestanding credit enhancements were recorded in the provision for credit losses (see Note 3). The Company recorded net gains in 2021 of $65.0 million on operating lease residual values, which had been revised downward over the term of the leases. Better than expected conditions in the agriculture and turf and the construction and forestry markets led to favorable results when the matured lease equipment was sold. In 2020 and 2019, the Company recorded net losses on operating lease residual values and impairments of $53.6 million and $159.5 million, respectively (see Note 7).

Cash Flow Information

Cash Flow Information	12 Months Ended
	Oct. 31, 2021
Cash Flow Information
Cash Flow Information	Note 17. Cash Flow Information For purposes of the statement of consolidated cash flows, the Company considers investments with purchased maturities of three months or less to be cash equivalents. Substantially all of the Company’s short-term borrowings, excluding the securitization borrowings and current maturities of long-term borrowings, mature or may require payment within three months or less. The Company’s restricted cash held at October 31, 2021, November 1, 2020, November 3, 2019, and October 28, 2018 was $95.8 million, $94.8 million, $78.3 million and $103.4 million, respectively. The restricted cash primarily relates to the securitization of receivables and is reported in other assets on the consolidated balance sheet (see Note 6). Cash payments by the Company for interest in 2021, 2020, and 2019 were $562.4 million, $806.0 million, and $953.8 million, respectively. Cash payments (receipts) for income taxes during these same periods were $306.8 million, $254.0 million, and $(36.1) million, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Oct. 31, 2021
Commitments and Contingencies
Commitments and Contingencies	Note 18. Commitments and Contingencies At October 31, 2021, John Deere Financial Inc., the John Deere finance subsidiary in Canada, had $2,268.7 million of medium-term notes outstanding, and a fair value liability of $46.0 million for derivatives outstanding, prior to considering applicable netting provisions, with notional amounts of $2,677.8 million that were guaranteed by Capital Corporation. The weighted-average interest rate on the medium-term notes at October 31, 2021 was 2.1 percent with a maximum remaining maturity of approximately six years. Capital Corporation has a variable interest in John Deere Canada Funding Inc. (JDCFI), a wholly-owned subsidiary of John Deere Financial Inc., which was created as a VIE to issue debt in public markets to fund the operations of affiliated companies in Canada. Capital Corporation has a variable interest in JDCFI because it provides guarantees for all debt issued by JDCFI, however it does not consolidate JDCFI because it does not have the power to direct the activities that most significantly impact JDCFI’s economic performance. Capital Corporation has no carrying value of assets or liabilities related to JDCFI. Its maximum exposure to loss is the amount of the debt issued by JDCFI and guaranteed by Capital Corporation, which was $810.2 million at October 31, 2021. The weighted-average interest rate on the debt at October 31, 2021 was 2.6 percent with a maximum remaining maturity of approximately two years. No additional support beyond what was previously contractually required has been provided to JDCFI during the reporting periods. The Company has commitments to extend credit to customers and John Deere dealers through lines of credit and other pre-approved credit arrangements. The Company applies the same credit policies and approval process for these commitments to extend credit as it does for its Receivables. Collateral is not required for these commitments, but if credit is extended, collateral may be required upon funding. The amount of unused commitments to extend credit to John Deere dealers was $11.5 billion at October 31, 2021. The amount of unused commitments to extend credit to customers was $28.7 billion at October 31, 2021. A significant portion of these commitments is not expected to be fully drawn upon; therefore, the total commitment amounts do not represent a future cash requirement. The Company generally has the right to unconditionally cancel, alter, or amend the terms of these commitments at any time. Over 95 percent of the unused commitments to extend credit to customers relate to revolving charge accounts. The Company recorded a provision for credit losses on unfunded commitments that are not unconditionally cancellable of $1.8 million in 2021. At October 31, 2021, Capital Corporation had $111.2 million in unused loan commitments, which are unconditionally cancellable, denominated in rubles to Limited Liability Company John Deere Financial, the John Deere finance subsidiary in Russia. At October 31, 2021, the Company had restricted other assets associated with borrowings related to securitizations (see Note 6). Excluding the securitization programs, the remaining balance of restricted other assets was not material as of October 31, 2021. The Company is subject to various unresolved legal actions which arise in the normal course of its business, the most prevalent of which relate to retail credit matters. The Company believes the reasonably possible range of losses for these unresolved legal actions would not have a material effect on its consolidated financial statements.

Other Comprehensive Income Item

Other Comprehensive Income Items	12 Months Ended
	Oct. 31, 2021
Other Comprehensive Income Items
Other Comprehensive Income Items	Note 19. Other Comprehensive Income Items The after-tax components of accumulated other comprehensive income (loss) at October 31, 2021, November 1, 2020, and November 3, 2019 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Cumulative translation adjustment ​ $ (54.5) ​ $ (69.5) ​ $ (88.4) Unrealized gain (loss) on derivatives ​ ​ 6.8 ​ ​ (6.7) ​ ​ (7.0) Unrealized gain (loss) on debt securities ​ ​ (1.7) ​ ​ (1.6) ​ ​ (2.0) Total accumulated other comprehensive income (loss) ​ $ (49.4) ​ $ (77.8) ​ $ (97.4) ​ Following are amounts recorded in and reclassifications out of other comprehensive income (loss) and the income tax effects (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax ​ ​ Amount ​ Credit ​ Amount 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 15.0 ​ ​ ​ ​ $ 15.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 7.7 ​ $ (1.6) ​ 6.1 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 9.4 ​ (2.0) ​ 7.4 ​ Net unrealized gain (loss) on derivatives ​ 17.1 ​ (3.6) ​ 13.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 31.9 ​ $ (3.5) ​ $ 28.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 18.9 ​ ​ ​ ​ $ 18.9 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (17.4) ​ $ 3.6 ​ (13.8) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 17.9 ​ (3.8) ​ 14.1 ​ Net unrealized gain (loss) on derivatives ​ .5 ​ (.2) ​ .3 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.9) ​ ​ .4 ​ ​ (.5) ​ Reclassification of realized (gain) loss - Administrative and operating expenses ​ ​ 1.3 ​ ​ (.4) ​ ​ .9 ​ Net unrealized gain (loss) on debt securities ​ ​ .4 ​ ​ ​ ​ ​ .4 ​ Total other comprehensive income (loss) ​ $ 19.8 ​ $ (.2) ​ $ 19.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (7.7) ​ ​ ​ ​ $ (7.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (22.2) ​ $ 4.7 ​ (17.5) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (5.5) ​ 1.2 ​ (4.3) ​ Net unrealized gain (loss) on derivatives ​ (27.7) ​ 5.9 ​ (21.8) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (2.7) ​ ​ .7 ​ ​ (2.0) ​ Total other comprehensive income (loss) ​ $ (38.1) ​ $ 6.6 ​ $ (31.5) ​ ​

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Oct. 31, 2021
Fair Value Measurements
Fair Value Measurements	Note 20. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, the Company uses various methods including market and income approaches. The Company utilizes valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied. Level 1 measurements consist of quoted prices in active markets for identical assets or liabilities. Level 2 measurements include significant other observable inputs such as quoted prices for similar assets or liabilities in active markets; identical assets or liabilities in inactive markets; observable inputs such as interest rates and yield curves; and other market-corroborated inputs. Level 3 measurements include significant unobservable inputs. The fair values of financial instruments that do not approximate the carrying values at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ Carrying Fair Carrying Fair ​ ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 31,891.7 ​ $ 31,903.6 ​ $ 28,751.6 ​ $ 28,931.7 ​ Retail notes securitized – net ​ 4,648.9 ​ 4,694.2 ​ 4,676.6 ​ 4,772.9 ​ Securitization borrowings ​ 4,595.2 ​ 4,600.0 ​ 4,656.2 ​ 4,697.6 ​ Current maturities of long-term external borrowings ​ 5,819.1 ​ 5,842.3 ​ 5,741.6 ​ 5,801.1 ​ Long-term external borrowings ​ 20,607.3 ​ 20,887.5 ​ 19,311.1 ​ 19,784.4 ​ ​ Fair values of Receivables that were issued long-term were based on the discounted values of their related cash flows at interest rates currently being offered by the Company for similar Receivables. The fair values of the remaining Receivables approximated the carrying amounts. Fair values of long-term external borrowings and securitization borrowings were based on current market quotes for identical or similar borrowings and credit risk, or on the discounted values of their related cash flows at current market interest rates. Certain long-term external borrowings have been swapped to current variable interest rates. The carrying values of these long-term external borrowings include adjustments related to fair value hedges. Assets and liabilities measured at October 31, 2021 and November 1, 2020 at fair value as Level 2 measurements on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 2.1 ​ $ 2.2 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 186.2 ​ ​ 575.5 ​ Cross-currency interest rate contracts ​ 5.4 ​ 7.7 ​ Other assets ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.1 ​ 3.8 ​ Total assets ​ $ 194.8 ​ $ 589.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 96.1 ​ $ 29.4 ​ Cross-currency interest rate contracts ​ ​ 1.5 ​ .7 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 4.8 ​ .9 ​ Total liabilities ​ $ 102.4 ​ $ 31.0 ​ ​ Excluded from the table above are the Company’s cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of time deposits and money market funds. The international debt securities mature over the next nine years. At October 31, 2021, the amortized cost basis and fair value of these available-for-sale debt securities were $4.8 million and $2.1 million, respectively. Fair value, nonrecurring Level 3 measurements from impairments, excluding Receivables with specific allowances which were not material, at October 31, 2021, November 1, 2020, and November 3, 2019 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Losses ​ 2021 2020 2021 2020 2019 Equipment on operating leases - net ​ ​ ​ ​ $ 340.3 ​ ​ ​ ​ $ 21.0 ​ $ 59.4 ​ Other assets ​ ​ ​ ​ ​ 56.5 ​ ​ ​ ​ ​ 9.8 ​ ​ 18.0 ​ Total ​ ​ ​ ​ $ 396.8 ​ ​ ​ ​ $ 30.8 ​ $ 77.4 ​ The fair value shown for 2020 in the table above represents the fair value assessment at May 3, 2020, as the result of impairments taken on operating leases and matured operating lease inventory in the second quarter of 2020 (see Note 7). The following is a description of the valuation methodologies the Company uses to measure certain financial instruments on the consolidated balance sheet at fair value: Marketable securities – Derivatives – Receivables – Equipment on operating leases - net Other assets –

Derivative Instruments

Derivative Instruments	12 Months Ended
	Oct. 31, 2021
Derivative Instruments
Derivative Instruments	Note 21. Derivative Instruments Cash Flow Hedges Certain interest rate contracts (swaps) were designated as hedges of future cash flows from borrowings. The total notional amounts of the receive-variable/pay-fixed interest rate contracts at October 31, 2021 and November 1, 2020 were $2,700.0 million and $1,550.0 million, respectively. Fair value gains or losses on these cash flow hedges were recorded in OCI and subsequently reclassified into interest expense in the same periods during which the hedged transactions impact earnings. These amounts offset the effects of interest rate changes on the related borrowings. The cash flows from these contracts were recorded in operating activities in the statement of consolidated cash flows. The amount of loss recorded in OCI at October 31, 2021 that is expected to be reclassified to interest expense in the next twelve months if interest rates remain unchanged is approximately $1.1 million after-tax. No gains or losses were reclassified from OCI to earnings based on the probability that the original forecasted transaction would not occur. Fair Value Hedges Certain interest rate contracts (swaps) were designated as fair value hedges of borrowings. The total notional amounts of the receive-fixed/pay-variable interest rate contracts at October 31, 2021 and November 1, 2020 were $7,313.6 million and $6,525.7 million, respectively. The fair value gains or losses on these contracts were generally offset by fair value gains or losses on the hedged items (fixed-rate borrowings) with both items recorded in interest expense. The amounts recorded, at October 31, 2021 and November 1, 2020, in the consolidated balance sheet related to borrowings designated in fair value hedging relationships were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Increase (Decrease) of Fair Value ​ ​ ​ ​ ​ ​ Hedging Adjustments Included in the ​ ​ ​ ​ ​ ​ Carrying Amount ​ ​ ​ Carrying ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of ​ Hedging ​ Discontinued ​ ​ ​ 2021 ​ Hedged Item ​ Relationships ​ Relationships ​ Total ​ Current maturities of long-term external borrowings ​ $ 189.5 ​ $ 2.7 ​ $ (1.7) ​ $ 1.0 ​ Long-term external borrowings ​ ​ 7,361.7 ​ ​ 48.3 ​ ​ 222.7 ​ ​ 271.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 2.5 ​ ​ ​ ​ $ 2.5 ​ $ 2.5 ​ Long-term external borrowings ​ ​ 7,149.8 ​ $ 530.0 ​ ​ 121.6 ​ ​ 651.6 ​ ​ Derivatives Not Designated as Hedging Instruments The Company has certain interest rate contracts (swaps and caps), foreign currency exchange contracts (futures, forwards, and swaps), and cross-currency interest rate contracts (swaps), which were not formally designated as hedges. These derivatives were held as economic hedges for underlying interest rate or foreign currency exposures primarily for certain borrowings. The total notional amounts of the interest rate swaps at October 31, 2021 and November 1, 2020 were $2,970.4 million and $2,336.6 million, the foreign currency exchange contracts were $96.7 million and $172.6 million, and the cross-currency interest rate contracts were $237.5 million and $111.5 million, respectively. To facilitate borrowings through securitization of retail notes, interest rate caps were sold with notional amounts of $1,645.4 million and $1,961.4 million at October 31, 2021 and November 1, 2020, respectively. Interest rate caps were also purchased with notional amounts of $1,645.4 million and $1,961.4 million at the same dates, respectively. The fair value gains or losses from the interest rate contracts were recognized currently in interest expense and the gains or losses from foreign currency exchange contracts in administrative and operating expenses, generally offsetting over time the expenses on the exposures being hedged. The cash flows from these non-designated contracts were recorded in operating activities in the statement of consolidated cash flows. Fair values of derivative instruments in the consolidated balance sheet at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 162.8 ​ $ 565.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 23.4 ​ 10.3 ​ Cross-currency interest rate contracts ​ 5.4 ​ 7.7 ​ Total not designated ​ 28.8 ​ 18.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.1 ​ 3.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 192.7 ​ $ 587.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 79.0 ​ $ 12.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 17.1 ​ 16.7 ​ Cross-currency interest rate contracts ​ ​ 1.5 ​ .7 ​ Total not designated ​ 18.6 ​ 17.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 4.8 ​ .9 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 102.4 ​ $ 31.0 ​ ​ The classification and gains (losses) including accrued interest expense related to derivative instruments on the statement of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ (208.9) ​ $ 477.3 ​ $ 583.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) 7.7 ​ (17.4) ​ (22.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense (9.4) ​ (17.9) ​ 5.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ 5.2 ​ $ (5.4) ​ $ (25.8) ​ Foreign currency exchange contracts - Administrative and operating expenses * (26.6) ​ 57.0 ​ 45.1 ​ Total not designated ​ $ (21.4) ​ $ 51.6 ​ $ 19.3 ​ ​ *         Includes interest and foreign currency exchange gains (losses) from cross-currency interest rate contracts. Included in the table above are interest expense and administrative and operating expense amounts the Company incurred on derivatives transacted with John Deere. The amounts the Company recognized on these affiliate party transactions were a loss of $224.3 million during 2021 and gains of $468.7 million and $561.9 million during 2020 and 2019, respectively. Counterparty Risk and Collateral Derivative instruments are subject to significant concentrations of credit risk to the banking sector. The Company manages individual unrelated external counterparty exposure by setting limits that consider the credit rating of the unrelated external counterparty, the credit default swap spread of the counterparty, and other financial commitments and exposures between the Company and the unrelated external counterparty banks. All interest rate derivatives are transacted under International Swaps and Derivatives Association (ISDA) documentation. Each master agreement permits the net settlement of amounts owed in the event of default or termination. None of the Company’s derivative agreements contain credit-risk-related contingent features. The Company’s outstanding derivatives have been transacted with both unrelated external counterparties and with John Deere. For derivatives transacted with John Deere, the Company utilizes a centralized hedging structure in which John Deere enters into a derivative transaction with an unrelated external counterparty and simultaneously enters into a derivative transaction with the Company. Except for collateral provisions, the terms of the transaction between the Company and John Deere are identical to the terms of the transaction between John Deere and its unrelated external counterparty. The Company has ISDA agreements with John Deere that permit the net settlement of amounts owed between counterparties in the event of early termination. In addition, the Company has a loss sharing agreement with John Deere in which it has agreed to absorb any losses and expenses John Deere incurs if an unrelated external counterparty fails to meet its obligations on a derivative transaction that John Deere entered into to manage exposures of the Company. The loss sharing agreement did not increase the maximum amount of loss that the Company would incur, after considering collateral received and netting arrangements, as of October 31, 2021 and November 1, 2020. Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities for external derivatives and those with John Deere related to netting arrangements and collateral were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 1.1 ​ $ (.3) ​ ​ ​ $ .8 ​ John Deere ​ 191.6 ​ (97.6) ​ ​ ​ ​ 94.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 4.8 ​ (.3) ​ ​ ​ ​ 4.5 ​ John Deere ​ 97.6 ​ (97.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 3.8 ​ $ (.7) ​ ​ ​ $ 3.1 ​ John Deere ​ 583.2 ​ (23.5) ​ ​ ​ ​ 559.7 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .9 ​ (.7) ​ ​ ​ ​ .2 ​ John Deere ​ 30.1 ​ (23.5) ​ ​ ​ ​ 6.6 ​ ​

Employee-Separation Programs

Employee-Separation Programs	12 Months Ended
	Oct. 31, 2021
Employee-Separation Programs
Employee-Separation Programs	Note 22. Employee-Separation Programs During 2020, the Company implemented employee-separation programs for the Company’s salaried workforce in several geographic areas, including the U.S., Europe, and Latin America. The programs’ main purpose was to improve efficiency through a leaner, more flexible organization. The programs were largely voluntary in nature with the expense recorded primarily in the period in which the employees irrevocably accepted a separation offer. For the limited involuntary employee-separation programs, the expense was recorded when management committed to a plan, the plan was communicated to the employees, and the employees were not required to provide service beyond the legal notification period. The programs provided for cash payments based on years of service, and in some countries subsidized healthcare for a limited period and outplacement services. The programs’ total pretax expense in 2020 was $19.7 million, which was recorded in administrative and operating expenses During 2019, the Company incurred voluntary employee-separation program expenses of $8.4 million as part of its effort to reduce operating costs. The programs provided cash payments based on years of service. The expenses were recognized in the periods the employees irrevocably accepted the separation offer and were recorded in administrative and operating expenses.

Geographic Area Information

Geographic Area Information	12 Months Ended
	Oct. 31, 2021
Geographic Area Information
Geographic Area Information	Note 23. Geographic Area Information Based on the way the operations are managed and evaluated by management and materiality considerations, the Company is viewed as one operating segment. However, geographic area information for revenues and Receivables attributed to the U.S. and countries outside the U.S. is disclosed below. No individual foreign country’s revenues or Receivables were material for disclosure purposes. Geographic area information as of and for the years ended October 31, 2021, November 1, 2020, and November 3, 2019 is presented below (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 2,357.2 ​ $ 2,517.6 ​ $ 2,588.1 ​ Outside the U.S. ​ 330.8 ​ 290.0 ​ 302.2 ​ Total ​ $ 2,688.0 ​ $ 2,807.6 ​ $ 2,890.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 30,756.7 ​ $ 28,196.8 ​ $ 27,854.5 ​ Outside the U.S. ​ 5,912.9 ​ 5,360.5 ​ 4,967.0 ​ Total ​ $ 36,669.6 ​ $ 33,557.3 ​ $ 32,821.5 ​ ​

Unconsolidated Affiliated Compa

Unconsolidated Affiliated Company	12 Months Ended
	Oct. 31, 2021
Unconsolidated Affiliated Company
Unconsolidated Affiliated Company	Note 24. Unconsolidated Affiliated Company The Company’s investment in an unconsolidated affiliated company consists of a 50 percent ownership in John Deere Financial S.A.S., a joint venture in France that primarily offers loans and leases to customers. The Company does not control the joint venture and accounts for its investment in the joint venture on the equity basis. The Company’s share of the income or loss of this joint venture is reported in the consolidated income statement under “Equity in income of unconsolidated affiliate.” The investment in this joint venture is reported in the consolidated balance sheet under “Investment in unconsolidated affiliate.” Summarized financial information of the unconsolidated affiliated company for the relevant fiscal years was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue ​ $ 16.6 ​ $ 13.4 ​ $ 12.4 ​ Net income ​ 5.9 ​ 4.4 ​ 3.6 ​ The Company’s equity in net income ​ 3.0 ​ 2.2 ​ 1.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Financial Position: ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 416.1 ​ $ 327.1 ​ Total external borrowings ​ 364.6 ​ 285.2 ​ Total net assets ​ 43.8 ​ 38.5 ​ The Company’s share of net assets ​ 21.9 ​ 19.3 ​ ​

Subsequent Events

Subsequent Events	12 Months Ended
	Oct. 31, 2021
Subsequent Events
Subsequent Events	Note 25. Subsequent Events In December 2021, Capital Corporation paid a $40.0 million dividend to JDFS. JDFS, in turn, paid a $40.0 million dividend to Deere & Company. In November 2021, the Company renewed its outstanding bank conduit facility revolving credit agreement, which reduced the facility capacity from $2,000.0 million to $1,000.0 million. As a result of the facility renewal at a reduced capacity, $511.1 million of outstanding short-term securitization borrowings were repurchased by the Company in November 2021, in addition to the normal monthly liquidations as a result of payments collected on the retail notes.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Oct. 31, 2021
Summary of Significant Accounting Policies
Consolidation, Policy	Principles of Consolidation The consolidated financial statements include the financial statements of Capital Corporation and its subsidiaries. The consolidated financial statements represent primarily the consolidation of all companies in which Capital Corporation has a controlling interest. Certain variable interest entities (VIEs) are consolidated since the Company has both the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIEs. The Company records its investment in each unconsolidated affiliated company (generally 20 to 50 percent ownership) at its related equity in the net assets of such affiliate (see Note 24).
Fiscal Year	Fiscal Year The Company uses a 52/53 week fiscal year ending on the last Sunday in the reporting period, which generally occurs in October. An additional week is included in the fourth fiscal quarter every five or six years to realign the Company’s fiscal quarters with the calendar. The fiscal year ends for 2021, 2020, and 2019 were October 31, 2021, November 1, 2020, and November 3, 2019, respectively. Fiscal years 2021 and 2020 contained 52 weeks compared to 53 weeks in fiscal year 2019. Unless otherwise stated, references to particular years or quarters refer to the Company’s fiscal years and the associated periods in those fiscal years.
Use of Estimates in Financial Statements	Use of Estimates in Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts and related disclosures. The COVID pandemic has resulted in uncertainties in the Company’s business, which may result in actual outcomes differing from those estimates.
Revenue Recognition	Revenue Recognition Financing revenue is recorded over the lives of the related receivables using the interest method. Deferred costs on the origination of receivables are recognized as a reduction in finance revenue over the expected lives of the receivables using the interest method. Income and deferred costs on the origination of operating leases are recognized on a straight-line basis over the scheduled lease terms in lease revenue.
Receivables and Allowance for Credit Losses	Receivables and Allowance for Credit Losses Receivables are reported on the balance sheet at outstanding principal and accrued interest, adjusted for any write-offs and any unamortized deferred fees or costs on originated Receivables. The Company also records an allowance for credit losses and provision for credit losses related to the Receivables. The allowance represents an estimate of the credit losses expected over the life of the Receivable portfolio, and is measured on a collective basis when similar risk characteristics exist. Risk characteristics considered by the Company include product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. The Company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex Customer Receivable pools, while weighted-average remaining maturity (WARM) models are used for smaller and less complex Customer Receivable pools. Expected credit losses on wholesale receivables are based on historical loss rates, with consideration of current economic conditions and dealer financial risk
Securitization of Receivables	Securitization of Receivables Certain financing receivables are periodically transferred to SPEs in securitization transactions (see Note 6). These securitizations qualify as collateral for secured borrowings and no gains or losses are recognized at the time of securitization. The receivables remain on the balance sheet and are classified as retail notes securitized. The Company recognizes finance income over the lives of these receivables using the interest method.
Depreciation	Depreciation The Company estimates residual values of equipment on operating leases at the inception of the lease, and the equipment is depreciated over the lease terms to the estimated residual value using the straight-line method. The Company reviews residual value estimates during the lease term and depreciation is adjusted prospectively on a straight-line basis over the remaining lease term if residual estimates are revised.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates the carrying value of long-lived assets when events or circumstances warrant such a review. If the carrying value of the long-lived asset is considered impaired, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the asset (see Notes 7 and 20).
Fees Paid to John Deere	Fees Paid to John Deere Fees paid to John Deere include corporate support fees and interest on intercompany borrowings from John Deere based on approximate market rates.
Derivative Financial Instruments	Derivative Financial Instruments The Company’s policy is that derivative transactions are executed only to manage exposures arising in the normal course of business and not for the purpose of creating speculative positions or trading. The Company manages the relationship of the types and amounts of its funding sources to its Receivable and Lease portfolios in an effort to diminish risk due to interest rate and foreign currency fluctuations, while responding to favorable financing opportunities. The Company also has foreign currency exposures at some of its foreign and domestic operations related to financing in currencies other than the functional currencies. All derivatives are recorded at fair value on the balance sheet. Cash collateral received or paid is not offset against the derivative fair values on the balance sheet. Each derivative is designated as a cash flow hedge, fair value hedge, or remains undesignated. Changes in the fair value of derivatives that are designated and effective as cash flow hedges are recorded in other comprehensive income (OCI) and reclassified to the income statement when the effects of the item being hedged are recognized in the income statement. Changes in the fair value of derivatives that are designated and effective as fair value hedges are recognized currently in net income. These changes are offset in net income by fair value changes related to the risk being hedged on the hedged item. Changes in the fair value of undesignated hedges are recognized currently in the income statement. All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis, the hedging instrument is assessed as to its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued (see Note 21).
Foreign Currency Translation	Foreign Currency Translation The functional currencies for most of the Company’s foreign operations are their respective local currencies. The assets and liabilities of these operations are translated into U.S. dollars at the end of the period exchange rates. The revenues and expenses are translated at weighted-average rates for the period. The gains or losses from these translations are recorded in OCI. Gains or losses from transactions denominated in a currency other than the functional currency of the subsidiary involved and foreign currency exchange derivative contracts are included in net income. The pretax net losses for foreign currency exchange in 2021 and 2020 were $14.9 million and $18.8 million, respectively. The pretax net gain for foreign currency exchange in 2019 was $3.9 million.
Receivables - Non-Performing, Policy	Credit Quality The Company monitors the credit quality of Receivables based on delinquency status. Past due balances of Receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date. Non-performing Receivables represent receivables for which the Company has ceased accruing finance income. Generally, when retail notes revolving charge accounts Receivable balances are written off to the allowance for credit losses when, in the judgment of management, they are considered uncollectible. Generally, when retail notes
Receivables - Allowance for Credit Losses, Policy	Allowance for Credit Losses The allowance for credit losses is an estimate of the credit losses expected over the life of the Company’s Receivable portfolio. The Company measures expected credit losses on a collective basis when similar risk characteristics exist. Risk characteristics considered by the Company include product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. Non-performing Receivables are included in the estimate of expected credit losses. The Company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex Customer Receivable pools, while WARM models are used for smaller and less complex Customer Receivable pools. Transition matrix models, which are used for the majority of the Customer Receivables, estimate credit losses using historical delinquency and default information to assign probabilities that a receivable will pay as contractually scheduled or become delinquent and advance through the various delinquency stages. The model simulates the runoff of the portfolio, month-by-month, over the life of the receivables until the balances are fully repaid or default, using roll rates applied to the outstanding portfolio. The roll rates are applied based on the delinquency status of the customer accounts and are further segmented based on the credit risk and remaining duration of the underlying receivables. Estimated recovery rates are applied to the balance at default to calculate the expected credit losses. The modeled expected credit losses are adjusted based on reasonable and supportable forecasts, which may include economic indicators such as commodity prices, industry equipment sales, unemployment rates, and housing starts. The WARM models apply historical average annual loss rates, adjusted for current and forecasted economic conditions, to the projected portfolio runoff. Expected credit losses on wholesale receivables are based on historical loss rates, with consideration of current economic conditions and dealer financial risk, along with reasonable and supportable forecasts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary. Recoveries from freestanding credit enhancements, such as dealer deposits and certain credit insurance contracts, are not included in the estimate of expected credit losses. Recoveries from dealer deposits are recognized in other income on the statement of consolidated income when the dealer’s withholding account is charged. During the year ended October 31, 2021, $14.3 million was recorded in other income related to recoveries from freestanding credit enhancements. Prior to the adoption of ASU No. 2016-13, the allowance for credit losses was estimated on probable credit losses incurred after consideration of expected recoveries from freestanding credit enhancements.
Troubled Debt Restructuring, Policy	A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity date, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest.
Lessor Leases, Policy	The Company leases John Deere equipment and a limited amount of non-John Deere equipment to retail customers through sales-type, direct financing, and operating leases. Sales-type and direct financing leases are reported in financing leases on the consolidated balance sheet. Operating leases are reported in equipment on operating leases – net on the consolidated balance sheet. Initial lease terms generally range from less than one year to seven years. Leases offered by the Company may include early termination and renewal options. At the end of a lease, the lessee generally has the option to purchase the underlying equipment for a fixed price or return it to the dealer. If the equipment is returned to the dealer, the dealer also has the option to purchase the equipment or return it to the Company for remarketing. The Company has elected to combine lease and nonlease components. The nonlease components primarily relate to preventative maintenance and extended warranty agreements financed by the customer. The Company has also elected to report consideration related to sales and value-added taxes net of the related tax expense. Property taxes on leased assets are recorded on a gross basis in lease revenues and administrative and operating expenses on the statement of consolidated income. Variable lease revenues primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees.
Unremitted Earnings in Foreign Investment, Policy	At October 31, 2021, accumulated earnings of $77.1 million in certain subsidiaries outside the U.S. are expected to remain indefinitely reinvested outside of the U.S. As such, a provision for foreign withholding taxes has not been made. Determination of the amount of foreign withholding tax liability on these unremitted earnings is not practicable.
Cash and Cash Equivalents, Policy	For purposes of the statement of consolidated cash flows, the Company considers investments with purchased maturities of three months or less to be cash equivalents. Substantially all of the Company’s short-term borrowings, excluding the securitization borrowings and current maturities of long-term borrowings, mature or may require payment within three months or less.
Fair Value of Financial Instruments, Policy	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, the Company uses various methods including market and income approaches. The Company utilizes valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied.

New Accounting Standards (Table

New Accounting Standards (Tables)	12 Months Ended
	Oct. 31, 2021
New Accounting Standards
Schedule of Affected Lines on the Consolidated Balance Sheet from Initially Applying the New Measurement of Credit Losses on Financial Instruments Guidance	The effects of adopting the ASU on the consolidated balance sheet were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1 ​ Cumulative Effect ​ November 2 ​ ​ 2020 ​ from Adoption ​ 2020 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ $ (129.1) ​ $ (19.7) ​ $ (148.8) Deferred income taxes ​ ​ 27.1 ​ ​ .7 ​ ​ 27.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses ​ $ 922.3 ​ $ (.5) ​ $ 921.8 Deposits withheld from dealers and merchants ​ ​ 114.8 ​ ​ 13.5 ​ ​ 128.3 Deferred income taxes ​ ​ 345.9 ​ ​ (5.8) ​ ​ 340.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholder’s equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings ​ $ 2,891.6 ​ $ (26.2) ​ $ 2,865.4

Receivables (Tables)

Receivables (Tables) - Retail notes	12 Months Ended
	Oct. 31, 2021
Receivables
Schedule of Receivables by Market	Retail notes receivable by market at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Unrestricted Securitized Unrestricted Securitized Agriculture and turf – new ​ $ 12,125.8 ​ $ 1,713.7 ​ $ 10,154.9 ​ $ 1,812.1 ​ Agriculture and turf – used ​ 5,992.5 ​ 2,326.6 ​ 4,385.1 ​ 2,321.6 ​ Construction and forestry – new ​ 2,902.1 ​ 536.0 ​ 2,568.8 ​ 535.7 ​ Construction and forestry – used ​ 974.6 ​ 165.9 ​ 692.1 ​ 117.3 ​ Total ​ 21,995.0 ​ 4,742.2 ​ 17,800.9 ​ 4,786.7 ​ Unearned finance income ​ (651.5) ​ (79.8) ​ (642.9) ​ (97.5) ​ Retail notes receivable ​ $ 21,343.5 ​ $ 4,662.4 ​ $ 17,158.0 ​ $ 4,689.2 ​
Schedule of Receivable Installments	Gross retail note installments at October 31, 2021 and November 1, 2020 were scheduled to be received as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Unrestricted Securitized Unrestricted Securitized Due in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 0-12 months ​ $ 6,448.9 ​ $ 1,894.0 ​ $ 5,466.8 ​ $ 1,950.2 ​ 13-24 months ​ 5,361.5 ​ 1,322.8 ​ 4,397.4 ​ 1,347.8 ​ 25-36 months ​ 4,400.4 ​ 884.4 ​ 3,501.9 ​ 888.3 ​ 37-48 months ​ 3,232.5 ​ 478.1 ​ 2,502.6 ​ 460.0 ​ 49-60 months ​ 1,927.4 ​ 149.7 ​ 1,462.1 ​ 129.2 ​ Over 60 months ​ 624.3 ​ 13.2 ​ 470.1 ​ 11.2 ​ Total ​ $ 21,995.0 ​ $ 4,742.2 ​ $ 17,800.9 ​ $ 4,786.7 ​
Schedule of Guidelines Relating to Down Payment Requirements and Contract Terms	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Unrestricted Securitized Unrestricted Securitized Due in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 0-12 months ​ $ 6,448.9 ​ $ 1,894.0 ​ $ 5,466.8 ​ $ 1,950.2 ​ 13-24 months ​ 5,361.5 ​ 1,322.8 ​ 4,397.4 ​ 1,347.8 ​ 25-36 months ​ 4,400.4 ​ 884.4 ​ 3,501.9 ​ 888.3 ​ 37-48 months ​ 3,232.5 ​ 478.1 ​ 2,502.6 ​ 460.0 ​ 49-60 months ​ 1,927.4 ​ 149.7 ​ 1,462.1 ​ 129.2 ​ Over 60 months ​ 624.3 ​ 13.2 ​ 470.1 ​ 11.2 ​ Total ​ $ 21,995.0 ​ $ 4,742.2 ​ $ 17,800.9 ​ $ 4,786.7 ​

Allowance for Credit Losses a_2

Allowance for Credit Losses and Credit Quality of Receivables (Tables)	12 Months Ended
	Oct. 31, 2021
Allowance for Credit Losses and Credit Quality of Receivables
Analysis of the Allowance for Credit Losses and Investment in Receivables	An analysis of the allowance for credit losses and investment in Receivables at October 31, 2021, November 1, 2020, and November 3, 2019 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Notes Revolving ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption (see Note 3) ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ 19.7 ​ Provision (credit) for credit losses * ​ 11.8 ​ ​ (17.0) ​ ​ 2.5 ​ (2.7) ​ Write-offs ​ (36.7) ​ ​ (27.8) ​ ​ (.3) ​ (64.8) ​ Recoveries ​ 11.6 ​ ​ 35.5 ​ ​ ​ ​ 47.1 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .2 ​ .6 ​ End of year balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 26,978.2 ​ $ 3,740.1 ​ $ 5,951.3 ​ $ 36,669.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 53.7 ​ $ 39.3 ​ $ 7.6 ​ $ 100.6 ​ Provision (credit) for credit losses ​ 66.2 ​ ​ 25.1 ​ ​ (1.9) ​ 89.4 ​ Write-offs ​ (49.1) ​ ​ (51.6) ​ ​ (.9) ​ (101.6) ​ Recoveries ​ 6.4 ​ ​ 29.5 ​ ​ 1.3 ​ 37.2 ​ Translation adjustments ​ (.3) ​ ​ ​ ​ ​ 3.8 ​ 3.5 ​ End of year balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 22,636.6 ​ $ 3,827.4 ​ $ 7,093.3 ​ $ 33,557.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 56.4 ​ $ 42.3 ​ $ 8.0 ​ $ 106.7 ​ Provision (credit) for credit losses ​ 21.0 ​ ​ 28.6 ​ ​ (4.2) ​ 45.4 ​ Write-offs ​ (31.1) ​ ​ (56.9) ​ ​ (.3) ​ (88.3) ​ Recoveries ​ 7.6 ​ ​ 25.3 ​ ​ 4.1 ​ 37.0 ​ Translation adjustments ​ (.2) ​ ​ ​ ​ ​ ​ ​ (.2) ​ End of year balance ​ $ 53.7 ​ $ 39.3 ​ $ 7.6 ​ $ 100.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 20,251.7 ​ $ 3,863.0 ​ $ 8,706.8 ​ $ 32,821.5 ​ * Excludes provision for credit losses on unfunded commitments of $1.8 million for the year ended October 31, 2021. The estimated credit losses related to unfunded commitments are recorded in accounts payable and accrued expenses on the consolidated balance sheet.
Total Receivables 30 Days or More Past Due, Non-performing Receivables, and the Allowance for Credit Losses	Total Receivables 30 days or more past due, non-performing Receivables, and the allowance for credit losses were as follows (in millions of dollars and as a percentage of the Receivables balance): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ ​ Dollars ​ Percent Dollars ​ Percent Receivables 30 days or more past due * ​ $ 340.8 ​ .93 % $ 311.9 ​ .93 % Non-performing Receivables * ​ ​ 280.1 ​ .76 ​ ​ 262.5 ​ .78 ​ Allowance for credit losses ​ ​ 129.0 ​ .35 ​ ​ 129.1 ​ .38 ​ ​ * The delinquency status of Receivables granted payment relief due to COVID is based on the modified payment schedule.
Total Write-offs and Recoveries, by Product, and as a Percentage of Average Balances Held	Total write-offs and recoveries, by product, and as a percentage of average balances held during the year, were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 ​ Dollars Percent Dollars Percent Dollars Percent Write-offs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ $ (18.6) (.09) % $ (15.2) (.09) % $ (9.9) (.06) % Construction and forestry ​ (18.1) (.42) ​ (33.9) (.94) ​ (21.2) (.65) ​ Total retail notes & financing leases ​ (36.7) (.15) ​ (49.1) (.24) ​ (31.1) (.15) ​ Revolving charge accounts ​ (27.8) (.85) ​ (51.6) (1.51) ​ (56.9) (1.65) ​ Wholesale receivables ​ (.3) ​ ​ (.9) (.01) ​ (.3) ​ ​ Total write-offs ​ (64.8) (.19) ​ (101.6) (.31) ​ (88.3) (.27) ​ Recoveries: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ 9.2 .05 ​ 4.6 .03 ​ 6.1 .04 ​ Construction and forestry ​ 2.4 .06 ​ 1.8 .05 ​ 1.5 .05 ​ Total retail notes & financing leases ​ 11.6 .05 ​ 6.4 .03 ​ 7.6 .04 ​ Revolving charge accounts ​ 35.5 1.08 ​ 29.5 .86 ​ 25.3 .73 ​ Wholesale receivables ​ ​ ​ ​ 1.3 .02 ​ 4.1 .04 ​ Total recoveries ​ 47.1 .14 ​ 37.2 .11 ​ 37.0 .11 ​ Total net write-offs ​ $ (17.7) (.05) % $ (64.4) (.20) % $ (51.3) (.16) %
Customer Receivables
Allowance for Credit Losses and Credit Quality of Receivables
Credit Quality Analysis	The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, Customer Receivables) at October 31, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 11,318.1 ​ $ 5,719.1 ​ $ 2,842.5 ​ $ 1,431.0 ​ $ 582.8 ​ $ 119.9 ​ $ 3,620.9 ​ $ 25,634.3 30-59 days past due ​ ​ 34.7 ​ ​ 47.5 ​ ​ 24.2 ​ ​ 13.7 ​ ​ 5.9 ​ ​ 2.9 ​ ​ 13.1 ​ ​ 142.0 60-89 days past due ​ ​ 12.8 ​ ​ 17.4 ​ ​ 8.4 ​ ​ 5.1 ​ ​ 2.4 ​ ​ .7 ​ ​ 3.2 ​ ​ 50.0 90+ days past due ​ ​ .5 ​ ​ .5 ​ ​ .1 ​ ​ .2 ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ 1.4 Non-performing ​ ​ 20.1 ​ ​ 44.5 ​ ​ 26.4 ​ ​ 22.3 ​ ​ 10.6 ​ ​ 12.5 ​ ​ 6.4 ​ ​ 142.8 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,356.4 ​ ​ 1,198.5 ​ ​ 573.5 ​ ​ 215.6 ​ ​ 42.5 ​ ​ 5.4 ​ ​ 92.3 ​ ​ 4,484.2 30-59 days past due ​ ​ 36.6 ​ ​ 33.0 ​ ​ 21.1 ​ ​ 5.8 ​ ​ 2.0 ​ ​ .1 ​ ​ 2.7 ​ ​ 101.3 60-89 days past due ​ ​ 12.5 ​ ​ 8.4 ​ ​ 5.0 ​ ​ 2.6 ​ ​ .5 ​ ​ .2 ​ ​ 1.0 ​ ​ 30.2 90+ days past due ​ ​ .1 ​ ​ .4 ​ ​ .9 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ 1.5 Non-performing ​ ​ 21.9 ​ ​ 50.0 ​ ​ 33.9 ​ ​ 15.1 ​ ​ 6.3 ​ ​ 2.9 ​ ​ .5 ​ ​ 130.6 Total Customer Receivables ​ $ 13,813.7 ​ $ 7,119.3 ​ $ 3,536.0 ​ $ 1,711.4 ​ $ 653.2 ​ $ 144.6 ​ $ 3,740.1 ​ $ 30,718.3
Age Credit Quality Analysis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 11,318.1 ​ $ 5,719.1 ​ $ 2,842.5 ​ $ 1,431.0 ​ $ 582.8 ​ $ 119.9 ​ $ 3,620.9 ​ $ 25,634.3 30-59 days past due ​ ​ 34.7 ​ ​ 47.5 ​ ​ 24.2 ​ ​ 13.7 ​ ​ 5.9 ​ ​ 2.9 ​ ​ 13.1 ​ ​ 142.0 60-89 days past due ​ ​ 12.8 ​ ​ 17.4 ​ ​ 8.4 ​ ​ 5.1 ​ ​ 2.4 ​ ​ .7 ​ ​ 3.2 ​ ​ 50.0 90+ days past due ​ ​ .5 ​ ​ .5 ​ ​ .1 ​ ​ .2 ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ 1.4 Non-performing ​ ​ 20.1 ​ ​ 44.5 ​ ​ 26.4 ​ ​ 22.3 ​ ​ 10.6 ​ ​ 12.5 ​ ​ 6.4 ​ ​ 142.8 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,356.4 ​ ​ 1,198.5 ​ ​ 573.5 ​ ​ 215.6 ​ ​ 42.5 ​ ​ 5.4 ​ ​ 92.3 ​ ​ 4,484.2 30-59 days past due ​ ​ 36.6 ​ ​ 33.0 ​ ​ 21.1 ​ ​ 5.8 ​ ​ 2.0 ​ ​ .1 ​ ​ 2.7 ​ ​ 101.3 60-89 days past due ​ ​ 12.5 ​ ​ 8.4 ​ ​ 5.0 ​ ​ 2.6 ​ ​ .5 ​ ​ .2 ​ ​ 1.0 ​ ​ 30.2 90+ days past due ​ ​ .1 ​ ​ .4 ​ ​ .9 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ 1.5 Non-performing ​ ​ 21.9 ​ ​ 50.0 ​ ​ 33.9 ​ ​ 15.1 ​ ​ 6.3 ​ ​ 2.9 ​ ​ .5 ​ ​ 130.6 Total Customer Receivables ​ $ 13,813.7 ​ $ 7,119.3 ​ $ 3,536.0 ​ $ 1,711.4 ​ $ 653.2 ​ $ 144.6 ​ $ 3,740.1 ​ $ 30,718.3
Wholesale Receivables
Allowance for Credit Losses and Credit Quality of Receivables
Credit Quality Analysis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ ​ Retail Notes & Financing Leases ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 18,341.2 ​ $ 3,710.3 ​ $ 22,051.5 30-59 days past due ​ ​ 111.4 ​ ​ 11.5 ​ ​ 122.9 60-89 days past due ​ ​ 47.6 ​ ​ 3.5 ​ ​ 51.1 90+ days past due ​ ​ 2.0 ​ ​ ​ ​ ​ 2.0 Non-performing ​ ​ 172.7 ​ ​ 5.4 ​ ​ 178.1 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 3,759.5 ​ ​ 92.3 ​ ​ 3,851.8 30-59 days past due ​ ​ 82.0 ​ ​ 2.4 ​ ​ 84.4 60-89 days past due ​ ​ 38.8 ​ ​ 1.1 ​ ​ 39.9 90+ days past due ​ ​ 1.9 ​ ​ ​ ​ ​ 1.9 Non-performing ​ ​ 79.5 ​ ​ .9 ​ ​ 80.4 Total Customer Receivables ​ $ 22,636.6 ​ $ 3,827.4 ​ $ 26,464.0 ​ The credit quality analysis of wholesale receivables at October 31, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 339.6 ​ $ 77.1 ​ $ 21.1 ​ $ 9.2 ​ $ 2.7 ​ $ .4 ​ $ 4,233.4 ​ $ 4,683.5 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.0 ​ ​ 6.0 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.2 ​ ​ 2.2 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.8 ​ ​ 3.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.7 ​ ​ 6.7 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 39.4 ​ ​ 4.0 ​ ​ 3.4 ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ 1,199.6 ​ ​ 1,246.7 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.3 ​ ​ 1.3 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .9 ​ ​ .9 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .2 ​ ​ .2 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 379.0 ​ $ 81.1 ​ $ 24.5 ​ $ 9.5 ​ $ 2.7 ​ $ .4 ​ $ 5,454.1 ​ $ 5,951.3
Age Credit Quality Analysis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 339.6 ​ $ 77.1 ​ $ 21.1 ​ $ 9.2 ​ $ 2.7 ​ $ .4 ​ $ 4,233.4 ​ $ 4,683.5 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.0 ​ ​ 6.0 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.2 ​ ​ 2.2 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.8 ​ ​ 3.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.7 ​ ​ 6.7 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 39.4 ​ ​ 4.0 ​ ​ 3.4 ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ 1,199.6 ​ ​ 1,246.7 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.3 ​ ​ 1.3 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .9 ​ ​ .9 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .2 ​ ​ .2 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 379.0 ​ $ 81.1 ​ $ 24.5 ​ $ 9.5 ​ $ 2.7 ​ $ .4 ​ $ 5,454.1 ​ $ 5,951.3

Securitization of Receivables (

Securitization of Receivables (Tables)	12 Months Ended
	Oct. 31, 2021
Securitization of Receivables
Unconsolidated Conduits, Carrying Amount of Liabilities Compared to Maximum Exposure to Loss	The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets at October 31, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ 2021 Carrying value of liabilities ​ $ 1,112.8 ​ Maximum exposure to loss ​ 1,175.8 ​ ​
Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions	The components of consolidated restricted assets related to secured borrowings in securitization transactions at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Retail notes securitized ​ $ 4,662.4 ​ $ 4,689.2 ​ Allowance for credit losses ​ (13.5) ​ (12.6) ​ Other assets ​ 106.6 ​ 97.9 ​ Total restricted securitized assets ​ $ 4,755.5 ​ $ 4,774.5 ​ ​ The components of consolidated secured borrowings and other liabilities related to securitizations at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Securitization borrowings ​ $ 4,595.2 ​ $ 4,656.2 ​ Accrued interest on borrowings ​ 1.7 ​ 3.2 ​ Total liabilities related to restricted securitized assets ​ $ 4,596.9 ​ $ 4,659.4 ​ ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Oct. 31, 2021
Leases
Schedule of Lease Revenues Earned	Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 Sales-type and direct financing lease revenues ​ $ 48.6 ​ $ 46.0 Operating lease revenues ​ ​ 953.0 ​ ​ 1,022.5 Variable lease revenues ​ 26.9 ​ 28.6 Total lease revenues ​ $ 1,028.5 ​ $ 1,097.1 Variable lease revenues reported above includes excess use and damage fees of $6.5 million and $8.2 million for 2021 and 2020, respectively, which were reported in other income on the statement of consolidated income.
Schedule of Sales-type and Direct Financing Lease Receivables by Market	Sales-type and direct financing lease receivables by market at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 Agriculture and turf ​ $ 500.8 ​ $ 447.5 Construction and forestry ​ ​ 168.2 ​ 152.7 Total ​ ​ 669.0 ​ ​ 600.2 Guaranteed residual values ​ ​ 359.7 ​ ​ 240.8 Unguaranteed residual values ​ ​ 33.7 ​ ​ 32.6 Unearned finance income ​ (90.1) ​ ​ (84.2) Financing leases receivable ​ $ 972.3 ​ $ 789.4
Schedule of Payments, Including Guaranteed Residual Values, on Sales-type and Direct Financing Lease Receivables	Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at October 31, 2021 were as follows (in millions of dollars): ​ ​ ​ ​ Due in: ​ ​ ​ 2022 ​ $ 522.9 2023 ​ ​ 222.0 2024 ​ ​ 151.1 2025 ​ ​ 82.7 2026 ​ ​ 37.8 Later years ​ 12.2 Total ​ $ 1,028.7
Schedule of Cost of Equipment on Operating Leases by Market	The cost of equipment on operating leases by market at October 31, 2021 and November 1, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 Agriculture and turf ​ $ 5,053.4 ​ $ 5,210.4 Construction and forestry ​ ​ 1,323.6 ​ 1,595.3 Total ​ ​ 6,377.0 ​ ​ 6,805.7 Accumulated depreciation ​ (1,429.4) ​ ​ (1,507.9) Equipment on operating leases - net ​ $ 4,947.6 ​ $ 5,297.8
Schedule of Lease Payments for Equipment on Operating Leases	Lease payments for equipment on operating leases at October 31, 2021 were scheduled as follows (in millions of dollars): ​ ​ ​ ​ Due in: ​ ​ ​ 2022 ​ $ 685.6 2023 ​ ​ 434.9 2024 ​ ​ 229.7 2025 ​ ​ 106.5 2026 ​ ​ 23.5 Later years ​ 4.0 Total ​ $ 1,484.2

Notes Receivable from and Pay_2

Notes Receivable from and Payable to John Deere (Tables)	12 Months Ended
	Oct. 31, 2021
Notes Receivable from and Payable to John Deere
Notes Receivable from John Deere	The Company had notes receivable from John Deere at October 31, 2021 and November 1, 2020 with the following affiliated companies as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Limited Liability Company John Deere Financial ​ $ 233.7 ​ $ 132.5 ​ Banco John Deere S.A. ​ ​ 159.8 ​ ​ 217.5 ​ Total Notes Receivable from John Deere ​ $ 393.5 ​ $ 350.0 ​

Short-Term External Borrowings

Short-Term External Borrowings (Tables)	12 Months Ended
	Oct. 31, 2021
Short-Term External Borrowings
Short-Term Borrowings	Short-term external borrowings of the Company at October 31, 2021 and November 1, 2020 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Commercial paper and other notes payable ​ $ 678.9 ​ $ 187.5 ​ Securitization borrowings ​ 4,595.2 ​ 4,656.2 ​ Current maturities of long-term external borrowings * ​ 5,819.1 ​ 5,741.6 ​ Total ​ $ 11,093.2 ​ $ 10,585.3 ​ ​ * Includes unamortized fair value adjustments related to interest rate swaps.

Long-Term External Borrowings (

Long-Term External Borrowings (Tables)	12 Months Ended
	Oct. 31, 2021
Long-Term External Borrowings
Long-Term Borrowings	Long-term external borrowings of the Company at October 31, 2021 and November 1, 2020 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Senior Debt: ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 20,649.2 ​ $ 19,320.6 ​ Other notes ​ 15.6 ​ 38.2 ​ Total senior debt ​ 20,664.8 ​ 19,358.8 ​ Unamortized debt discount and debt issuance costs ​ (57.5) ​ (47.7) ​ Total ​ $ 20,607.3 ​ $ 19,311.1 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Oct. 31, 2021
Income Taxes
Provision for Income Taxes by Taxing Jurisdiction and by Significant Component	The provision for income taxes by taxing jurisdiction and by significant component consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 231.4 ​ $ 273.2 ​ $ 351.1 ​ State ​ 15.2 ​ 9.0 ​ 1.9 ​ Foreign ​ 37.2 ​ 27.5 ​ 29.0 ​ Total current ​ 283.8 ​ 309.7 ​ 382.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ (69.7) ​ (179.1) ​ (279.9) ​ State ​ 2.2 ​ (4.1) ​ (.6) ​ Foreign ​ (15.8) ​ 7.6 ​ (6.0) ​ Total deferred ​ (83.3) ​ (175.6) ​ (286.5) ​ Provision for income taxes ​ $ 200.5 ​ $ 134.1 ​ $ 95.5 ​
Comparison of Statutory and Effective Income Tax Provision	A comparison of the statutory and effective income tax provision and reasons for related differences follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 U.S. federal income tax provision at a statutory rate (21 percent) ​ $ 190.8 ​ $ 116.9 ​ $ 107.7 ​ Increase (decrease) resulting from: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax liability remeasurement ​ ​ ​ ​ ​ ​ ​ ​ 4.8 ​ Deemed earnings repatriation tax ​ ​ ​ ​ ​ ​ ​ ​ (13.9) ​ Tax rates on foreign earnings ​ 5.5 ​ 5.8 ​ 4.4 ​ State and local income taxes, net of federal income tax benefit ​ 13.7 ​ 3.8 ​ 1.0 ​ Other - net ​ (9.5) ​ 7.6 ​ (8.5) ​ Provision for income taxes ​ $ 200.5 ​ $ 134.1 ​ $ 95.5 ​
Analysis of Deferred Income Tax Assets and Liabilities	Deferred income taxes arise because there are certain items that are treated differently for financial accounting than for income tax reporting purposes. An analysis of deferred income tax assets and liabilities at October 31, 2021 and November 1, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Deferred Deferred Deferred Deferred ​ ​ Tax ​ Tax ​ Tax ​ Tax ​ ​ Assets ​ Liabilities ​ Assets ​ Liabilities Lease transactions ​ ​ ​ ​ $ 310.4 ​ ​ ​ ​ $ 404.6 ​ Tax over book depreciation ​ $ 1.1 ​ ​ ​ ​ ​ ​ 3.8 ​ Deferred retail note finance income ​ ​ ​ ​ 1.0 ​ ​ ​ ​ .8 ​ Accrual for retirement and other benefits ​ ​ 4.8 ​ ​ ​ ​ $ 6.2 ​ ​ ​ ​ Accrual for other employee benefits ​ ​ 15.9 ​ ​ ​ ​ ​ 12.1 ​ ​ ​ ​ Allowance for credit losses ​ ​ 31.9 ​ ​ ​ ​ ​ 37.1 ​ ​ ​ ​ Tax loss and tax credit carryforwards ​ 18.7 ​ ​ ​ ​ 25.3 ​ ​ ​ ​ Federal taxes on deferred state tax deductions ​ 7.4 ​ ​ ​ ​ 10.7 ​ ​ ​ ​ Miscellaneous accruals and other ​ 16.4 ​ ​ 8.2 ​ 13.5 ​ ​ 4.5 ​ Less valuation allowances ​ (9.0) ​ ​ ​ ​ (10.0) ​ ​ ​ ​ Deferred income tax assets and liabilities ​ $ 87.2 ​ $ 319.6 ​ $ 94.9 ​ $ 413.7 ​
Reconciliation of Total Amounts of Unrecognized Tax Benefits	A reconciliation of the total amounts of unrecognized tax benefits at October 31, 2021, November 1, 2020, and November 3, 2019 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Beginning of year balance ​ $ 33.3 ​ $ 32.5 ​ $ 36.3 ​ Increases to tax positions taken during the current year ​ 11.2 ​ 7.4 ​ 6.9 ​ Increases to tax positions taken during prior years ​ 1.4 ​ 3.1 ​ .8 ​ Decreases to tax positions taken during prior years ​ (5.8) ​ (4.9) ​ (7.1) ​ Decreases due to lapse of statute of limitations ​ (3.7) ​ (4.8) ​ (4.4) ​ Settlements ​ ​ (1.5) ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 34.9 ​ $ 33.3 ​ $ 32.5 ​

Other Income and Administrati_2

Other Income and Administrative and Operating Expenses (Tables)	12 Months Ended
	Oct. 31, 2021
Other Income and Administrative and Operating Expenses
Schedule of major components of other income and administrative and operating expenses	The major components of other income and administrative and operating expenses were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 Other income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fees from John Deere ​ $ 25.6 ​ $ 25.5 ​ $ 30.7 ​ Interest income ​ ​ 2.9 ​ ​ 13.8 ​ ​ 33.1 ​ Operating lease residual gains - net ​ ​ 65.0 ​ ​ ​ ​ ​ ​ ​ Freestanding credit enhancement recoveries * ​ ​ 14.3 ​ ​ ​ ​ ​ ​ ​ Other ​ 13.7 ​ 19.2 ​ 15.8 ​ Total ​ $ 121.5 ​ $ 58.5 ​ $ 79.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Compensation and benefits ​ $ 249.0 ​ $ 251.0 ​ $ 260.5 ​ Operating lease residual losses - net and impairments ​ ​ ​ ​ ​ 53.6 ​ ​ 159.5 ​ Computer processing and software ​ ​ 52.0 ​ ​ 47.2 ​ ​ 50.6 ​ Property taxes on leased assets ​ ​ 29.0 ​ ​ 30.0 ​ ​ 21.1 ​ Other ​ 76.0 ​ 88.8 ​ ​ 41.3 ​ Total ​ $ 406.0 ​ $ 470.6 ​ $ 533.0 ​ * As a result of the adoption of ASU No. 2016-13 in 2021, recoveries from freestanding credit enhancements are recognized in other income. Prior to the adoption of ASU No. 2016-13, recoveries from freestanding credit enhancements were recorded in the provision for credit losses (see Note 3).

Other Comprehensive Income It_2

Other Comprehensive Income Items (Tables)	12 Months Ended
	Oct. 31, 2021
Other Comprehensive Income Items
Schedule of After-Tax Changes in Accumulated Other Comprehensive Income (Loss)	The after-tax components of accumulated other comprehensive income (loss) at October 31, 2021, November 1, 2020, and November 3, 2019 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Cumulative translation adjustment ​ $ (54.5) ​ $ (69.5) ​ $ (88.4) Unrealized gain (loss) on derivatives ​ ​ 6.8 ​ ​ (6.7) ​ ​ (7.0) Unrealized gain (loss) on debt securities ​ ​ (1.7) ​ ​ (1.6) ​ ​ (2.0) Total accumulated other comprehensive income (loss) ​ $ (49.4) ​ $ (77.8) ​ $ (97.4)
Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects	Following are amounts recorded in and reclassifications out of other comprehensive income (loss) and the income tax effects (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax ​ ​ Amount ​ Credit ​ Amount 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 15.0 ​ ​ ​ ​ $ 15.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 7.7 ​ $ (1.6) ​ 6.1 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 9.4 ​ (2.0) ​ 7.4 ​ Net unrealized gain (loss) on derivatives ​ 17.1 ​ (3.6) ​ 13.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 31.9 ​ $ (3.5) ​ $ 28.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 18.9 ​ ​ ​ ​ $ 18.9 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (17.4) ​ $ 3.6 ​ (13.8) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 17.9 ​ (3.8) ​ 14.1 ​ Net unrealized gain (loss) on derivatives ​ .5 ​ (.2) ​ .3 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.9) ​ ​ .4 ​ ​ (.5) ​ Reclassification of realized (gain) loss - Administrative and operating expenses ​ ​ 1.3 ​ ​ (.4) ​ ​ .9 ​ Net unrealized gain (loss) on debt securities ​ ​ .4 ​ ​ ​ ​ ​ .4 ​ Total other comprehensive income (loss) ​ $ 19.8 ​ $ (.2) ​ $ 19.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (7.7) ​ ​ ​ ​ $ (7.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (22.2) ​ $ 4.7 ​ (17.5) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (5.5) ​ 1.2 ​ (4.3) ​ Net unrealized gain (loss) on derivatives ​ (27.7) ​ 5.9 ​ (21.8) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (2.7) ​ ​ .7 ​ ​ (2.0) ​ Total other comprehensive income (loss) ​ $ (38.1) ​ $ 6.6 ​ $ (31.5) ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Oct. 31, 2021
Fair Value Measurements
Fair Value of Financial Instruments	The fair values of financial instruments that do not approximate the carrying values at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ Carrying Fair Carrying Fair ​ ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 31,891.7 ​ $ 31,903.6 ​ $ 28,751.6 ​ $ 28,931.7 ​ Retail notes securitized – net ​ 4,648.9 ​ 4,694.2 ​ 4,676.6 ​ 4,772.9 ​ Securitization borrowings ​ 4,595.2 ​ 4,600.0 ​ 4,656.2 ​ 4,697.6 ​ Current maturities of long-term external borrowings ​ 5,819.1 ​ 5,842.3 ​ 5,741.6 ​ 5,801.1 ​ Long-term external borrowings ​ 20,607.3 ​ 20,887.5 ​ 19,311.1 ​ 19,784.4 ​ ​
Assets and Liabilities Measured at Fair Value as Level 2 Measurements on a Recurring Basis	Assets and liabilities measured at October 31, 2021 and November 1, 2020 at fair value as Level 2 measurements on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 2.1 ​ $ 2.2 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 186.2 ​ ​ 575.5 ​ Cross-currency interest rate contracts ​ 5.4 ​ 7.7 ​ Other assets ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.1 ​ 3.8 ​ Total assets ​ $ 194.8 ​ $ 589.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 96.1 ​ $ 29.4 ​ Cross-currency interest rate contracts ​ ​ 1.5 ​ .7 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 4.8 ​ .9 ​ Total liabilities ​ $ 102.4 ​ $ 31.0 ​ ​ Excluded from the table above are the Company’s cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of time deposits and money market funds.
Fair Value, Nonrecurring Level 3 Measurements from Impairments	Fair value, nonrecurring Level 3 measurements from impairments, excluding Receivables with specific allowances which were not material, at October 31, 2021, November 1, 2020, and November 3, 2019 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Losses ​ 2021 2020 2021 2020 2019 Equipment on operating leases - net ​ ​ ​ ​ $ 340.3 ​ ​ ​ ​ $ 21.0 ​ $ 59.4 ​ Other assets ​ ​ ​ ​ ​ 56.5 ​ ​ ​ ​ ​ 9.8 ​ ​ 18.0 ​ Total ​ ​ ​ ​ $ 396.8 ​ ​ ​ ​ $ 30.8 ​ $ 77.4 ​ The fair value shown for 2020 in the table above represents the fair value assessment at May 3, 2020, as the result of impairments taken on operating leases and matured operating lease inventory in the second quarter of 2020 (see Note 7).

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Oct. 31, 2021
Derivative Instruments
Amounts Recorded in the Consolidated Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships	The amounts recorded, at October 31, 2021 and November 1, 2020, in the consolidated balance sheet related to borrowings designated in fair value hedging relationships were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Increase (Decrease) of Fair Value ​ ​ ​ ​ ​ ​ Hedging Adjustments Included in the ​ ​ ​ ​ ​ ​ Carrying Amount ​ ​ ​ Carrying ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of ​ Hedging ​ Discontinued ​ ​ ​ 2021 ​ Hedged Item ​ Relationships ​ Relationships ​ Total ​ Current maturities of long-term external borrowings ​ $ 189.5 ​ $ 2.7 ​ $ (1.7) ​ $ 1.0 ​ Long-term external borrowings ​ ​ 7,361.7 ​ ​ 48.3 ​ ​ 222.7 ​ ​ 271.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 2.5 ​ ​ ​ ​ $ 2.5 ​ $ 2.5 ​ Long-term external borrowings ​ ​ 7,149.8 ​ $ 530.0 ​ ​ 121.6 ​ ​ 651.6 ​
Fair Value of Derivative Instruments in Consolidated Balance Sheet	Fair values of derivative instruments in the consolidated balance sheet at October 31, 2021 and November 1, 2020 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 162.8 ​ $ 565.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 23.4 ​ 10.3 ​ Cross-currency interest rate contracts ​ 5.4 ​ 7.7 ​ Total not designated ​ 28.8 ​ 18.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.1 ​ 3.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 192.7 ​ $ 587.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 79.0 ​ $ 12.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 17.1 ​ 16.7 ​ Cross-currency interest rate contracts ​ ​ 1.5 ​ .7 ​ Total not designated ​ 18.6 ​ 17.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 4.8 ​ .9 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 102.4 ​ $ 31.0 ​
Gains (Losses) Related to Derivative Instruments on Statement of Consolidated Income	The classification and gains (losses) including accrued interest expense related to derivative instruments on the statement of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ (208.9) ​ $ 477.3 ​ $ 583.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) 7.7 ​ (17.4) ​ (22.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense (9.4) ​ (17.9) ​ 5.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ 5.2 ​ $ (5.4) ​ $ (25.8) ​ Foreign currency exchange contracts - Administrative and operating expenses * (26.6) ​ 57.0 ​ 45.1 ​ Total not designated ​ $ (21.4) ​ $ 51.6 ​ $ 19.3 ​ ​ *         Includes interest and foreign currency exchange gains (losses) from cross-currency interest rate contracts.
Impact on Derivative Assets and Liabilities for External Derivatives and those with John Deere Related to Netting Arrangements and Collateral	Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities for external derivatives and those with John Deere related to netting arrangements and collateral were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 1.1 ​ $ (.3) ​ ​ ​ $ .8 ​ John Deere ​ 191.6 ​ (97.6) ​ ​ ​ ​ 94.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 4.8 ​ (.3) ​ ​ ​ ​ 4.5 ​ John Deere ​ 97.6 ​ (97.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 3.8 ​ $ (.7) ​ ​ ​ $ 3.1 ​ John Deere ​ 583.2 ​ (23.5) ​ ​ ​ ​ 559.7 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .9 ​ (.7) ​ ​ ​ ​ .2 ​ John Deere ​ 30.1 ​ (23.5) ​ ​ ​ ​ 6.6 ​

Geographic Area Information (Ta

Geographic Area Information (Tables)	12 Months Ended
	Oct. 31, 2021
Geographic Area Information
Schedule of Geographic Area Information	Geographic area information as of and for the years ended October 31, 2021, November 1, 2020, and November 3, 2019 is presented below (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 2,357.2 ​ $ 2,517.6 ​ $ 2,588.1 ​ Outside the U.S. ​ 330.8 ​ 290.0 ​ 302.2 ​ Total ​ $ 2,688.0 ​ $ 2,807.6 ​ $ 2,890.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 30,756.7 ​ $ 28,196.8 ​ $ 27,854.5 ​ Outside the U.S. ​ 5,912.9 ​ 5,360.5 ​ 4,967.0 ​ Total ​ $ 36,669.6 ​ $ 33,557.3 ​ $ 32,821.5 ​

Unconsolidated Affiliated Com_2

Unconsolidated Affiliated Company (Tables)	12 Months Ended
	Oct. 31, 2021
Unconsolidated Affiliated Company
Unconsolidated Affiliated Company	Summarized financial information of the unconsolidated affiliated company for the relevant fiscal years was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue ​ $ 16.6 ​ $ 13.4 ​ $ 12.4 ​ Net income ​ 5.9 ​ 4.4 ​ 3.6 ​ The Company’s equity in net income ​ 3.0 ​ 2.2 ​ 1.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Financial Position: ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 416.1 ​ $ 327.1 ​ Total external borrowings ​ 364.6 ​ 285.2 ​ Total net assets ​ 43.8 ​ 38.5 ​ The Company’s share of net assets ​ 21.9 ​ 19.3 ​

Organization and Consolidation

Organization and Consolidation (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Maximum portion of receivables guaranteed by related parties
Maximum portion of receivables guaranteed by related parties (as a percent)	5.00%
Maximum portion of receivables serviced by related parties
Maximum portion of receivables serviced by related parties (as a percent)	5.00%
Fiscal Year
Fiscal year duration	364 days	364 days	371 days
Argentine Peso
Argentina
Net Peso Exposure	$ 46.5
Argentina
Argentina
Net investment	$ 69.5
Net sales and revenues (as a percent)	3.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Summary of Significant Accounting Policies
Pretax net gain (loss) for foreign currency exchange	$ (14.9)	$ (18.8)	$ 3.9

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 02, 2020	Nov. 01, 2020	Nov. 03, 2019	Oct. 28, 2018
Assets
Allowance for credit losses	$ (129)	$ (148.8)	$ (129.1)	$ (100.6)	$ (106.7)
Deferred income taxes	32.7	27.8	27.1
Liabilities
Accounts payable and accrued expenses	876	921.8	922.3
Deposits withheld from dealers and merchants	131.8	128.3	114.8
Deferred income taxes	265.1	340.1	345.9
Retained earnings	$ 3,091	$ 2,865.4	2,891.6
ASU 2016-13
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Transition Option Elected [Fixed List]	jdcc:AccountingStandardsUpdate201613CumulativeEffectPeriodOfAdoptionMember
ASU 2016-13 | Cumulative Effect from Adoption
Assets
Allowance for credit losses			(19.7)
Deferred income taxes			0.7
Liabilities
Accounts payable and accrued expenses			(0.5)
Deposits withheld from dealers and merchants			13.5
Deferred income taxes			(5.8)
Retained earnings			$ (26.2)
ASU 2018-15
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2019-04
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2021-01
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2019-12
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2020-08
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false

Receivables - Retail Notes (Det

Receivables - Retail Notes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Receivables, by Product Category
Total receivables	$ 36,669.6	$ 33,557.3	$ 32,821.5
Retail notes
Receivables, by Product Category
Average original term of receivables	57 months	57 months	56 months
Average actual life of receivables	36 months	38 months	40 months
Retail notes | Unrestricted
Receivables, by Product Category
Receivables, Gross	$ 21,995	$ 17,800.9
Unearned finance income	(651.5)	(642.9)
Total receivables	21,343.5	17,158
Retail notes | Unrestricted | Agriculture and turf | New
Receivables, by Product Category
Receivables, Gross	12,125.8	10,154.9
Retail notes | Unrestricted | Agriculture and turf | Used
Receivables, by Product Category
Receivables, Gross	5,992.5	4,385.1
Retail notes | Unrestricted | Construction and forestry | New
Receivables, by Product Category
Receivables, Gross	2,902.1	2,568.8
Retail notes | Unrestricted | Construction and forestry | Used
Receivables, by Product Category
Receivables, Gross	974.6	692.1
Retail notes | Securitized
Receivables, by Product Category
Receivables, Gross	4,742.2	4,786.7
Unearned finance income	(79.8)	(97.5)
Total receivables	4,662.4	4,689.2
Retail notes | Securitized | Agriculture and turf | New
Receivables, by Product Category
Receivables, Gross	1,713.7	1,812.1
Retail notes | Securitized | Agriculture and turf | Used
Receivables, by Product Category
Receivables, Gross	2,326.6	2,321.6
Retail notes | Securitized | Construction and forestry | New
Receivables, by Product Category
Receivables, Gross	536	535.7
Retail notes | Securitized | Construction and forestry | Used
Receivables, by Product Category
Receivables, Gross	$ 165.9	$ 117.3

Receivables - Retail Note Insta

Receivables - Retail Note Installments (Details) - Retail notes - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Unrestricted
Receivable Installments, Due in Months:
Receivables, due in 0 - 12 months	$ 6,448.9	$ 5,466.8
Receivables, due in 13 - 24 months	5,361.5	4,397.4
Receivables, due in 25 - 36 months	4,400.4	3,501.9
Receivables, due in 37 - 48 months	3,232.5	2,502.6
Receivables, due in 49 - 60 months	1,927.4	1,462.1
Receivables, Over 60 months	624.3	470.1
Receivables, Gross	21,995	17,800.9
Securitized
Receivable Installments, Due in Months:
Receivables, due in 0 - 12 months	1,894	1,950.2
Receivables, due in 13 - 24 months	1,322.8	1,347.8
Receivables, due in 25 - 36 months	884.4	888.3
Receivables, due in 37 - 48 months	478.1	460
Receivables, due in 49 - 60 months	149.7	129.2
Receivables, Over 60 months	13.2	11.2
Receivables, Gross	$ 4,742.2	$ 4,786.7

Receivables - Down Payment and

Receivables - Down Payment and Contract Terms (Details) - Retail notes	12 Months Ended
	Oct. 31, 2021
Agriculture and turf | Minimum
Receivables - Other Disclosures
Percentage of balances outstanding used to determine excess withholdings to be remitted to dealers	0.50%
Agriculture and turf | Maximum
Receivables - Other Disclosures
Percentage of balances outstanding used to determine excess withholdings to be remitted to dealers	3.00%
Agriculture
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Seasonal payments - Down Payment (as a percent)	20.00%
Monthly payments - Down Payment (as a percent)	10.00%
Agriculture | Minimum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Seasonal payments - Contract Terms	3 years
Monthly payments - Contract Terms	36 months
Agriculture | Maximum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Seasonal payments - Contract Terms	7 years
Monthly payments - Contract Terms	84 months
Turf
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Seasonal payments - Down Payment (as a percent)	10.00%
Monthly payments - Down Payment (as a percent)	0.00%
Turf | Minimum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Seasonal payments - Contract Terms	3 years
Monthly payments - Contract Terms	36 months
Turf | Maximum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Seasonal payments - Contract Terms	7 years
Monthly payments - Contract Terms	84 months
Construction and forestry | New
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Down Payment (as a percent)	10.00%
Construction and forestry | New | Minimum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Contract Terms	24 months
Construction and forestry | New | Maximum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Contract Terms	60 months
Construction and forestry | Used
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Down Payment (as a percent)	15.00%
Construction and forestry | Used | Minimum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Contract Terms	36 months
Construction and forestry | Used | Maximum
Guidelines Relating to Down Payment Requirements and Contract Terms on Retail Notes
Contract Terms	60 months

Receivables - Other (Details)

Receivables - Other (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Receivables - Other Disclosures
Total receivables	$ 36,669.6	$ 33,557.3	$ 32,821.5
Retail notes
Receivables - Other Disclosures
Average effective yield on Retail Notes Receivable (as a percent)	4.00%	4.70%	5.00%
Retail notes | John Deere
Receivables - Other Disclosures
Finance income earned on Receivables and Leases containing waiver of finance charges or reduced rates	$ 325	$ 339.5	$ 334.8
Revolving charge accounts
Receivables - Other Disclosures
Total receivables	3,740.1	3,827.4	3,863
Unearned interest income	53.8	58.9
Revolving charge accounts | John Deere
Receivables - Other Disclosures
Finance income earned on Receivables and Leases containing waiver of finance charges or reduced rates	$ 14.3	15.2	14.1
Wholesale Receivables
Receivables - Other Disclosures
Term that the average term for wholesale notes is less than	12 months
Total receivables	$ 5,951.3	7,093.3	8,706.8
Wholesale Receivables | John Deere
Receivables - Other Disclosures
Finance income earned on Receivables and Leases containing waiver of finance charges or reduced rates	$ 197.9	$ 228.8	$ 320
Wholesale Receivables | Minimum
Receivables - Other Disclosures
Interest-free periods granted at the time of sale to dealer	1 month
Wholesale Receivables | Maximum
Receivables - Other Disclosures
Interest-free periods granted at the time of sale to dealer	12 months

Allowance for Credit Losses a_3

Allowance for Credit Losses and Credit Quality of Receivables - Financing Receivables Past Due (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Nov. 01, 2020	Oct. 31, 2021
Receivable, Past Due
Minimum number of days for a receivable to be considered past due		30 days
COVID-19
Receivable, Past Due
Percentage of financing receivables granted relief (as a percent)		2.00%
COVID-19 | Maximum
Receivable, Past Due
Retail customer payment deferral period	3 months
Retail notes
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing		90 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off		120 days
Revolving charge accounts
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing		90 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off		120 days
Wholesale Receivables
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing		60 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off		60 days
Wholesale Receivables | Non-performing
Receivable, Past Due
Accrued finance income and lease revenue reversed on non-performing Receivables		$ 12.4
Finance income and lease revenue recognized from cash payments on non-performing receivables		$ 17.1
Financing Leases
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing		90 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off		120 days

Allowance for Credit Losses a_4

Allowance for Credit Losses and Credit Quality of Receivables - Customer Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Allowance for Credit Losses and Credit Quality of Receivables
Total Receivables	$ 36,669.6	$ 33,557.3	$ 32,821.5
Customer Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2021	13,813.7
2020	7,119.3
2019	3,536
2018	1,711.4
2017	653.2
Prior	144.6
Revolving	3,740.1
Total Receivables	30,718.3	26,464
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2021	34.7
2020	47.5
2019	24.2
2018	13.7
2017	5.9
Prior	2.9
Revolving	13.1
Total Receivables	142	122.9
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2021	12.8
2020	17.4
2019	8.4
2018	5.1
2017	2.4
Prior	0.7
Revolving	3.2
Total Receivables	50	51.1
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2021	0.5
2020	0.5
2019	0.1
2018	0.2
2017	0.1
Total Receivables	1.4	2
Customer Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2021	11,318.1
2020	5,719.1
2019	2,842.5
2018	1,431
2017	582.8
Prior	119.9
Revolving	3,620.9
Total Receivables	25,634.3
Customer Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2021	20.1
2020	44.5
2019	26.4
2018	22.3
2017	10.6
Prior	12.5
Revolving	6.4
Total Receivables	142.8
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2021	36.6
2020	33
2019	21.1
2018	5.8
2017	2
Prior	0.1
Revolving	2.7
Total Receivables	101.3	84.4
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2021	12.5
2020	8.4
2019	5
2018	2.6
2017	0.5
Prior	0.2
Revolving	1
Total Receivables	30.2	39.9
Customer Receivables | Construction and forestry | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2021	0.1
2020	0.4
2019	0.9
2017	0.1
Total Receivables	1.5	$ 1.9
Customer Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2021	2,356.4
2020	1,198.5
2019	573.5
2018	215.6
2017	42.5
Prior	5.4
Revolving	92.3
Total Receivables	4,484.2
Customer Receivables | Construction and forestry | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2021	21.9
2020	50
2019	33.9
2018	15.1
2017	6.3
Prior	2.9
Revolving	0.5
Total Receivables	$ 130.6

Allowance for Credit Losses a_5

Allowance for Credit Losses and Credit Quality of Receivables - Customer Receivables Age Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Age Credit Quality Analysis
Non-performing	$ 280.1	$ 262.5
Total Receivables	36,669.6	33,557.3	$ 32,821.5
Past Due
Age Credit Quality Analysis
Total Receivables	340.8	311.9
Customer Receivables
Age Credit Quality Analysis
Total Receivables	30,718.3	26,464
Customer Receivables | Agriculture and turf
Age Credit Quality Analysis
Non-performing		178.1
Customer Receivables | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		22,051.5
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	142	122.9
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	50	51.1
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables	1.4	2
Customer Receivables | Construction and forestry
Age Credit Quality Analysis
Non-performing		80.4
Customer Receivables | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		3,851.8
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	101.3	84.4
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	30.2	39.9
Customer Receivables | Construction and forestry | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables	1.5	1.9
Retail Notes and Financing Leases
Age Credit Quality Analysis
Total Receivables	26,978.2	22,636.6	20,251.7
Retail Notes and Financing Leases | Agriculture and turf
Age Credit Quality Analysis
Non-performing		172.7
Retail Notes and Financing Leases | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		18,341.2
Retail Notes and Financing Leases | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		111.4
Retail Notes and Financing Leases | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		47.6
Retail Notes and Financing Leases | Agriculture and turf | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables		2
Retail Notes and Financing Leases | Construction and forestry
Age Credit Quality Analysis
Non-performing		79.5
Retail Notes and Financing Leases | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		3,759.5
Retail Notes and Financing Leases | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		82
Retail Notes and Financing Leases | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		38.8
Retail Notes and Financing Leases | Construction and forestry | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables		1.9
Revolving charge accounts
Age Credit Quality Analysis
Total Receivables	$ 3,740.1	3,827.4	$ 3,863
Revolving charge accounts | Agriculture and turf
Age Credit Quality Analysis
Non-performing		5.4
Revolving charge accounts | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		3,710.3
Revolving charge accounts | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		11.5
Revolving charge accounts | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		3.5
Revolving charge accounts | Construction and forestry
Age Credit Quality Analysis
Non-performing		0.9
Revolving charge accounts | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		92.3
Revolving charge accounts | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		2.4
Revolving charge accounts | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		$ 1.1

Allowance for Credit Losses a_6

Allowance for Credit Losses and Credit Quality of Receivables - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Allowance for Credit Losses and Credit Quality of Receivables
Total Receivables	$ 36,669.6	$ 33,557.3	$ 32,821.5
Wholesale Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2021	379
2020	81.1
2019	24.5
2018	9.5
2017	2.7
Prior	0.4
Revolving	5,454.1
Total Receivables	5,951.3	7,093.3	$ 8,706.8
Wholesale Receivables | Agriculture and turf | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	6
Total Receivables	6	3.9
Wholesale Receivables | Agriculture and turf | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	2.2
Total Receivables	2.2	4.4
Wholesale Receivables | Agriculture and turf | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	3.8
Total Receivables	3.8	1.1
Wholesale Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2021	339.6
2020	77.1
2019	21.1
2018	9.2
2017	2.7
Prior	0.4
Revolving	4,233.4
Total Receivables	4,683.5
Wholesale Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	6.7
Total Receivables	6.7
Wholesale Receivables | Construction and forestry | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	1.3
Total Receivables	1.3	$ 0.3
Wholesale Receivables | Construction and forestry | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	0.9
Total Receivables	0.9
Wholesale Receivables | Construction and forestry | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	0.2
Total Receivables	0.2
Wholesale Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2021	39.4
2020	4
2019	3.4
2018	0.3
Revolving	1,199.6
Total Receivables	$ 1,246.7

Allowance for Credit Losses a_7

Allowance for Credit Losses and Credit Quality of Receivables - Wholesale Receivables Age Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Age Credit Quality Analysis
Non-performing	$ 280.1	$ 262.5
Total Receivables	36,669.6	33,557.3	$ 32,821.5
Past Due
Age Credit Quality Analysis
Total Receivables	340.8	311.9
Wholesale Receivables
Age Credit Quality Analysis
Total Receivables	5,951.3	7,093.3	$ 8,706.8
Wholesale Receivables | Agriculture and turf
Age Credit Quality Analysis
Non-performing		4
Wholesale Receivables | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		5,693.7
Wholesale Receivables | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	6	3.9
Wholesale Receivables | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	2.2	4.4
Wholesale Receivables | Agriculture and turf | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables	3.8	1.1
Wholesale Receivables | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		1,385.9
Wholesale Receivables | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	1.3	$ 0.3
Wholesale Receivables | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	0.9
Wholesale Receivables | Construction and forestry | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables	$ 0.2

Allowance for Credit Losses a_8

Allowance for Credit Losses and Credit Quality of Receivables - Allowance for Credit Losses (Details) - USD ($) $ in Millions	Nov. 02, 2020	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Receivable, Allowance for Credit Losses
Freestanding credit enhancement recoveries		$ 14.3
Allowance:
Beginning of year balance	$ 129.1	129.1	$ 100.6	$ 106.7
Provision (credit) for credit losses		(2.7)	89.4	45.4
Write-offs		(64.8)	(101.6)	(88.3)
Recoveries		47.1	37.2	37
Translation adjustments		(0.6)	3.5	(0.2)
End of year balance	148.8	129	129.1	100.6
Receivables:
End of year balance		36,669.6	33,557.3	32,821.5
Increase (decrease) in allowance for credit losses		(19.8)
Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance	19.7	19.7
End of year balance			19.7
Receivables:
Increase (decrease) in allowance for credit losses	19.7
Unfunded Commitments
Allowance:
Provision (credit) for credit losses		1.8
Customer Receivables
Receivables:
End of year balance		30,718.3	26,464
Retail Notes and Financing Leases
Allowance:
Beginning of year balance	76.9	76.9	53.7	56.4
Provision (credit) for credit losses		11.8	66.2	21
Write-offs		(36.7)	(49.1)	(31.1)
Recoveries		11.6	6.4	7.6
Translation adjustments		(0.4)	(0.3)	(0.2)
End of year balance		96.5	76.9	53.7
Receivables:
End of year balance		26,978.2	22,636.6	20,251.7
Retail Notes and Financing Leases | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance	32.5	32.5
End of year balance			32.5
Revolving charge accounts
Allowance:
Beginning of year balance	42.3	42.3	39.3	42.3
Provision (credit) for credit losses		(17)	25.1	28.6
Write-offs		(27.8)	(51.6)	(56.9)
Recoveries		35.5	29.5	25.3
End of year balance		20.8	42.3	39.3
Receivables:
End of year balance		3,740.1	3,827.4	3,863
Revolving charge accounts | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance	(12.2)	(12.2)
End of year balance			(12.2)
Wholesale Receivables
Allowance:
Beginning of year balance	9.9	9.9	7.6	8
Provision (credit) for credit losses		2.5	(1.9)	(4.2)
Write-offs		(0.3)	(0.9)	(0.3)
Recoveries			1.3	4.1
Translation adjustments		(0.2)	3.8
End of year balance		11.7	9.9	7.6
Receivables:
End of year balance		5,951.3	7,093.3	$ 8,706.8
Wholesale Receivables | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance	$ (0.6)	$ (0.6)
End of year balance			$ (0.6)

Allowance for Credit Losses a_9

Allowance for Credit Losses and Credit Quality of Receivables - Other (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 02, 2020	Nov. 01, 2020	Nov. 03, 2019	Oct. 28, 2018
Additional Receivable Disclosures
Total receivables	$ 36,669.6		$ 33,557.3	$ 32,821.5
Non-performing	$ 280.1		$ 262.5
Non-performing Receivables as a percentage of Receivables outstanding	0.76%		0.78%
Allowance for credit losses	$ 129	$ 148.8	$ 129.1	$ 100.6	$ 106.7
Allowance for credit losses as a percentage of total Receivables outstanding	0.35%		0.38%
Deposits primarily withheld from John Deere dealers and merchants available as credit enhancements	$ 128.8		$ 110.1
Past Due
Additional Receivable Disclosures
Total receivables	$ 340.8		$ 311.9
Receivables 30 days or more past due as a percentage of total Receivables outstanding	0.93%		0.93%

Allowance for Credit Losses _10

Allowance for Credit Losses and Credit Quality of Receivables - Troubled Debt Restructurings (Details) $ in Millions	12 Months Ended
	Oct. 31, 2021USD ($)item	Nov. 01, 2020USD ($)item	Nov. 03, 2019USD ($)item
Receivables Related to Troubled Debt Restructurings
Receivable contracts in troubled debt restructuring, number | item	326	468	328
Receivables in troubled debt restructurings, aggregate balances, pre-modification	$ 12	$ 19	$ 14.6
Receivables in troubled debt restructurings, aggregate balances, post-modification	10.7	17.4	13.7
Receivable contracts in troubled debt restructuring, subsequently defaulted	0	$ 0	$ 0
Commitments to lend additional funds to borrowers whose accounts were modified in troubled debt restructurings	$ 0

Allowance for Credit Losses _11

Allowance for Credit Losses and Credit Quality of Receivables - Write-offs (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Dollars
Total write-offs	$ (64.8)	$ (101.6)	$ (88.3)
Total recoveries	47.1	37.2	37
Total net write-offs	$ (17.7)	$ (64.4)	$ (51.3)
Percent
Total write-offs (as a percent)	(0.19%)	(0.31%)	(0.27%)
Total recoveries (as a percent)	0.14%	0.11%	0.11%
Total net write-offs (as a percent)	(0.05%)	(0.20%)	(0.16%)
Retail Notes and Financing Leases
Dollars
Total write-offs	$ (36.7)	$ (49.1)	$ (31.1)
Total recoveries	$ 11.6	$ 6.4	$ 7.6
Percent
Total write-offs (as a percent)	(0.15%)	(0.24%)	(0.15%)
Total recoveries (as a percent)	0.05%	0.03%	0.04%
Retail Notes and Financing Leases | Agriculture and turf
Dollars
Total write-offs	$ (18.6)	$ (15.2)	$ (9.9)
Total recoveries	$ 9.2	$ 4.6	$ 6.1
Percent
Total write-offs (as a percent)	(0.09%)	(0.09%)	(0.06%)
Total recoveries (as a percent)	0.05%	0.03%	0.04%
Retail Notes and Financing Leases | Construction and forestry
Dollars
Total write-offs	$ (18.1)	$ (33.9)	$ (21.2)
Total recoveries	$ 2.4	$ 1.8	$ 1.5
Percent
Total write-offs (as a percent)	(0.42%)	(0.94%)	(0.65%)
Total recoveries (as a percent)	0.06%	0.05%	0.05%
Revolving charge accounts
Dollars
Total write-offs	$ (27.8)	$ (51.6)	$ (56.9)
Total recoveries	$ 35.5	$ 29.5	$ 25.3
Percent
Total write-offs (as a percent)	(0.85%)	(1.51%)	(1.65%)
Total recoveries (as a percent)	1.08%	0.86%	0.73%
Wholesale Receivables
Dollars
Total write-offs	$ (0.3)	$ (0.9)	$ (0.3)
Total recoveries		$ 1.3	$ 4.1
Percent
Total write-offs (as a percent)		(0.01%)
Total recoveries (as a percent)		0.02%	0.04%

Securitization of Receivables_2

Securitization of Receivables (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Nov. 28, 2021	Oct. 31, 2021	Nov. 01, 2020
Securitization of Receivables
Retail notes securitized		$ 4,662.4	$ 4,689.2
Allowance for credit losses - securitization transactions		(13.5)	(12.6)
Other assets - securitization transactions		106.6	97.9
Total restricted securitized assets - securitization transactions		4,755.5	4,774.5
Securitization borrowings		4,595.2	4,656.2
Accrued interest on borrowings - securitization transactions		1.7	3.2
Total liabilities related to restricted securitized assets - securitization transactions		$ 4,596.9	4,659.4
Maximum remaining term of all restricted receivables		7 years
Unconsolidated conduits, carrying value of liabilities		$ 38,690.4	36,559
Bank Conduit Facility Revolving Credit Agreement
Securitization of Receivables
Bank conduit facility capacity		2,000
Subsequent Event | Bank Conduit Facility Revolving Credit Agreement
Securitization of Receivables
Bank conduit facility capacity	$ 1,000
Repurchase of outstanding short-term securitization borrowings	$ 511.1
VIE-Primary Beneficiary
Securitization of Receivables
Total restricted securitized assets - securitization transactions		3,093.6	2,897.5
Total liabilities related to restricted securitized assets - securitization transactions		3,024	2,856.2
Non-VIE Banking Operation
Securitization of Receivables
Total restricted securitized assets - securitization transactions		486.1	549.7
Total liabilities related to restricted securitized assets - securitization transactions		460.1	528.1
VIE-Not Primary Beneficiary
Securitization of Receivables
Total restricted securitized assets - securitization transactions		1,175.8	1,327.3
Total liabilities related to restricted securitized assets - securitization transactions		1,112.8	$ 1,275.1
Unconsolidated conduits, carrying value of liabilities		1,112.8
Unconsolidated conduits, maximum exposure to loss		1,175.8
Total assets		$ 40,000

Leases - Lessor Lease Terms (De

Leases - Lessor Lease Terms (Details)	12 Months Ended
	Oct. 31, 2021
Lessor
Sales-type lease early termination options	true
Sales-type lease renewal options	true
Sales-type lease option to purchase the underlying equipment	true
Direct financing lease early termination options	true
Direct financing lease renewal options	true
Direct financing lease option to purchase the underlying equipment	true
Operating lease early termination options	true
Operating lease renewal options	true
Operating lease option to purchase the underlying equipment	true
Elected to combine lease and nonlease components	true
Elected to report consideration related to sales and value added taxes net of the related tax expense	true
Minimum
Lessor
Lessor, term of contract	1 year
Maximum
Lessor
Lessor, term of contract	7 years

Leases - Lease Revenues (Detail

Leases - Lease Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Lessor
Sales-type and direct finance lease revenues	$ 48.6	$ 46
Operating lease revenues	953	1,022.5
Variable lease revenues	26.9	28.6
Total lease revenues	1,028.5	1,097.1
Excess use and damage fees	6.5	8.2
John Deere | Operating Leases
Receivables - Other Disclosures
Finance income and Operating lease revenue	47.1	57.2	$ 42.9
John Deere | Financing Leases
Receivables - Other Disclosures
Finance income and Operating lease revenue	$ 3.7	$ 3.3	$ 3.5

Leases - Sales-type and Direct

Leases - Sales-type and Direct Financing Lease Receivables (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Lessor
Total sales-type and direct financing lease receivables	$ 669	$ 600.2
Guaranteed residual values	359.7	240.8
Unguaranteed residual values	33.7	32.6
Unearned finance income	(90.1)	(84.2)
Financing lease receivables	972.3	789.4
Agriculture and turf equipment
Lessor
Total sales-type and direct financing lease receivables	500.8	447.5
Construction and forestry
Lessor
Total sales-type and direct financing lease receivables	$ 168.2	$ 152.7

Leases - Scheduled Payments on

Leases - Scheduled Payments on Sales-type and Direct Financings Leases Receivables, Current Year (Details) $ in Millions	Oct. 31, 2021USD ($)
Payments on Sales-type and Direct Financing Leases Receivables
2022	$ 522.9
2023	222
2024	151.1
2025	82.7
2026	37.8
Later years	12.2
Total	$ 1,028.7

Leases - Cost of Equipment on O

Leases - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 6,377	$ 6,805.7
Accumulated depreciation	(1,429.4)	(1,507.9)
Equipment on operating leases - net	4,947.6	5,297.8
Impairment losses on operating leases	0	21	$ 59.4
Operating lease residual value	3,547.6	3,826.3
Operating lease residual value guarantees	295.8	141
Dealer deposits available for potential losses on residual values	3	4.7
Matured operating lease inventory	25.4	64.5
Impairment losses on matured operating lease inventory	0	9.8	$ 18
Agriculture and turf equipment
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	5,053.4	5,210.4
Construction and forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 1,323.6	$ 1,595.3

Leases - Lease payments for equ

Leases - Lease payments for equipment on operating leases (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Lease Payments for Equipment on Operating Leases
2022	$ 685.6
2023	434.9
2024	229.7
2025	106.5
2026	23.5
Later years	4
Total	$ 1,484.2
Minimum payment default period	30 days
Past due balances of operating leases	$ 53.9	$ 61.3

Leases - Short-term Relief to L

Leases - Short-term Relief to Lessees (Details) - COVID-19	9 Months Ended
	Nov. 01, 2020
Lessor
Percentage of operating lease portfolio granted relief	2.00%
Maximum
Lessor
Operating lease payment deferral period	3 months

Notes Receivable from and Pay_3

Notes Receivable from and Payable to John Deere (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Notes Receivable from and Payable to John Deere
Notes payable to John Deere	$ 5,619.4	$ 5,249.5
John Deere
Notes Receivable from and Payable to John Deere
Maximum remaining term for related party notes receivable	7 years
Interest earned	$ 15.4	16.6	$ 17.4
Notes receivable from John Deere	393.5	350
Notes payable to John Deere	5,619.4	$ 5,249.5
Long-term intercompany loans	$ 584
Average interest rates (as a percent)	1.20%	0.70%
Interest expense	$ 53	$ 18.1	$ 17
Limited Liability Company John Deere Financial
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	233.7	132.5
Banco John Deere S.A.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	$ 159.8	$ 217.5

Short-Term External Borrowing_2

Short-Term External Borrowings (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Short-Term Borrowings
Commercial paper and other notes payable	$ 678.9	$ 187.5
Securitization borrowings	4,595.2	4,656.2
Current maturities of long-term external borrowings	5,819.1	5,741.6
Total short-term external borrowings	$ 11,093.2	$ 10,585.3
Payment Schedule for Securitization Borrowings Based on Expected Liquidation of Retail Notes
Weighted-average interest rate on total short-term borrowings, excluding current maturities of long-term borrowings (as a percent)	0.80%	1.60%
Securitization borrowings
Payment Schedule for Securitization Borrowings Based on Expected Liquidation of Retail Notes
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2022	$ 2,546.1
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2023	1,149.9
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2024	623.1
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2025	231.1
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2026	44.3
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, Later years	$ 6.5

Short-Term External Borrowing_3

Short-Term External Borrowings - Other (Details) $ in Millions	12 Months Ended
	Oct. 31, 2021USD ($)	Nov. 01, 2020USD ($)
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	$ 8,016
Lines of credit unused	$ 5,770.3
Consolidated ratio of earnings to fixed charges required by the credit agreements, minimum at the end of each fiscal quarter	1.05
Ratio of senior debt, excluding securitization indebtedness, to capital base (total subordinated debt and stockholder's equity excluding accumulated other comprehensive income (loss)) required by the credit agreements, maximum at the end of any fiscal quarter	11
Agreement with Deere & Company
Consolidated tangible net worth of Capital Corporation	$ 4,524.4	$ 4,296.6
Deere & Company
Agreement with Deere & Company
Minimum ownership percentage by Deere & Company in Capital Corporation capital stock	51.00%
Minimum consolidated tangible net worth of Capital Corporation to be maintained by Deere & Company	$ 50
Minimum ratio of earnings to fixed charges of Capital Corporation to be maintained by Deere & Company	1.05
Ownership percentage by Deere & Company in Capital Corporation capital stock	100.00%
364-Day Credit Facilities Expiring April, 2022
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	$ 3,000
Line of Credit Facilities Expiring April, 2025
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	2,500
Line of Credit Facilities Expiring March, 2026
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	$ 2,500

Long-Term External Borrowings_2

Long-Term External Borrowings (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Long-Term Borrowings
Total senior debt	$ 20,664.8	$ 19,358.8
Unamortized debt discount and debt issuance costs	(57.5)	(47.7)
Total	20,607.3	19,311.1
Principal Amounts of Long-Term Borrowings Maturing in Each of Next Five Years
2022	5,820.8
2023	5,969.3
2024	4,999.4
2025	1,775.1
2026	2,800
Medium-term notes
Long-Term Borrowings
Total senior debt	20,649.2	19,320.6
Principal amount	$ 20,378.2	$ 18,668.9
Average interest rates (as a percent)	1.10%	1.60%
Other notes
Long-Term Borrowings
Total senior debt	$ 15.6	$ 38.2

Capital Stock (Details)

Capital Stock (Details) - $ / shares	Oct. 31, 2021	Nov. 01, 2020
Capital Stock
Number of shares of preferred stock authorized, but not issued	10,000	10,000
Par value of preferred stock (in dollars per share)	$ 1	$ 1

Dividends (Details)

Dividends (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Dividends
Cash dividends declared and paid to JDFS	$ 485	$ 275	$ 330

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits - Defined Benefit Plan (Details) - Health Care and Life Insurance - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Defined Benefit Plan Disclosure
Expenses related to defined benefit plans	$ 6.1	$ 12.3	$ 4.3
2020 Employee-Separation Programs
Defined Benefit Plan Disclosure
Curtailments		$ 5.5

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Pension and Other Postretirement Benefits
Defined contribution plans employer contributions and costs (primarily in the U.S.)	$ 11.8	$ 10.7	$ 13.2

Stock Option and Restricted S_2

Stock Option and Restricted Stock Awards (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Stock Option and Restricted Stock Awards
Total share-based compensation expense	$ 6.3	$ 6.2	$ 6.9
Income tax benefit recognized in net income	$ 1.5	$ 1.4	$ 1.7

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Current:
U.S. - Federal	$ 231.4	$ 273.2	$ 351.1
U.S. - State	15.2	9	1.9
Foreign	37.2	27.5	29
Total current	283.8	309.7	382
Deferred:
U.S. - Federal	(69.7)	(179.1)	(279.9)
U.S. - State	2.2	(4.1)	(0.6)
Foreign	(15.8)	7.6	(6)
Total deferred	(83.3)	(175.6)	(286.5)
Provision for income taxes	$ 200.5	$ 134.1	$ 95.5

Income Taxes - Tax Sharing Agre

Income Taxes - Tax Sharing Agreement (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Tax Sharing Agreement | John Deere
Tax Sharing Agreement
Amounts payable to Deere and Company under the tax sharing agreement	$ 9.6	$ 42.9

Income Taxes - Statutory and Ef

Income Taxes - Statutory and Effective Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Comparison of the Statutory and Effective Income Tax Provision
Federal corporate statutory tax rate (as a percent)	21.00%	21.00%	21.00%
U.S. federal income tax provision at a statutory rate (21 percent)	$ 190.8	$ 116.9	$ 107.7
Increase (decrease) resulting from:
Net deferred tax liability remeasurement			4.8
Deemed earnings repatriation tax			(13.9)
Tax rates on foreign earnings	5.5	5.8	4.4
State and local income taxes, net of federal income tax benefit	13.7	3.8	1
Other - net	(9.5)	7.6	(8.5)
Provision for income taxes	200.5	$ 134.1	$ 95.5
Accumulated earnings of certain subsidiaries outside the U.S. for which no provision for U.S. income or foreign withholding taxes has been made	77.1
Provision for foreign withholding taxes for earnings expected to remain indefinitely reinvested outside the U.S.	$ 0

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Deferred Tax Assets
Tax over book depreciation	$ 1.1
Accrual for retirement and other benefits	4.8	$ 6.2
Accrual for other employee benefits	15.9	12.1
Allowance for credit losses	31.9	37.1
Tax loss and tax credit carryforwards	18.7	25.3
Federal taxes on deferred state tax deductions	7.4	10.7
Miscellaneous accruals and other	16.4	13.5
Less valuation allowances	(9)	(10)
Deferred income tax assets	87.2	94.9
Deferred Tax Liabilities
Lease transactions	310.4	404.6
Tax over book depreciation		3.8
Deferred retail note finance income	1	0.8
Miscellaneous accruals and other	8.2	4.5
Deferred income tax liabilities	$ 319.6	$ 413.7

Income Taxes - Additional Defer

Income Taxes - Additional Deferred Income Tax Information (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Additional Deferred Income Tax Information
Tax loss and tax credit carryforwards	$ 18.7	$ 25.3
Tax loss and tax credit carryforwards, expiring from 2029 through 2038	15.2
Tax loss and tax credit carryforwards with an indefinite carryforward period	$ 3.5

Income Taxes - Uncertain Tax Po

Income Taxes - Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Reconciliation of the Total Amounts of Unrecognized Tax Benefits
Beginning of year balance	$ 33.3	$ 32.5	$ 36.3
Increases to tax positions taken during the current year	11.2	7.4	6.9
Increases to tax positions taken during prior years	1.4	3.1	0.8
Decreases to tax positions taken during prior years	(5.8)	(4.9)	(7.1)
Decreases due to lapse of statute of limitations	(3.7)	(4.8)	(4.4)
Settlements	(1.5)
End of year balance	34.9	33.3	32.5
Unrecognized tax benefits impacting effective tax rate if recognized	24	17.2
Net tax benefit from tax positions settled	1.6
Total amount of expense from interest and penalties		0.5	0
Total amount of income from interest and penalties	0	0.7	$ 5.3
Accrued interest and penalties on income tax	$ 12.3	$ 14.6

Other Income and Administrati_3

Other Income and Administrative and Operating Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Other income - net
Fees from John Deere	$ 25.6	$ 25.5	$ 30.7
Interest income	2.9	13.8	33.1
Operating lease residual gains - net	65
Freestanding credit enhancement recoveries	14.3
Other	13.7	19.2	15.8
Total	121.5	58.5	79.6
Administrative and operating expenses
Compensation and benefits	249	251	260.5
Operating lease residual losses - net and impairments		53.6	159.5
Computer processing and software	52	47.2	50.6
Property taxes on leased assets	29	30	21.1
Other	76	88.8	41.3
Total	$ 406	$ 470.6	$ 533

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019	Oct. 28, 2018
Cash Flow Information
Restricted cash	$ 95.8	$ 94.8	$ 78.3	$ 103.4
Cash payments for interest	562.4	806	953.8
Cash payments (receipts) for income taxes	$ 306.8	$ 254	$ (36.1)

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) $ in Millions	12 Months Ended
	Oct. 31, 2021USD ($)
John Deere Financial Inc. | Guarantees of debt and derivatives | Medium-term notes.
Guarantee Obligations
Guarantee obligations maximum exposure	$ 2,268.7
Weighted average interest rate (as a percent)	2.10%
Maximum remaining maturity	6 years
John Deere Financial Inc. | Guarantees of debt and derivatives | Derivative Instruments
Guarantee Obligations
Guarantee obligations maximum exposure	$ 46
Notional amount	2,677.8
John Deere Canada Funding Inc. (JDCFI) | VIE-Not Primary Beneficiary
Guarantee Obligations
Carrying value of assets or liabilities related to JDCFI	0
John Deere Canada Funding Inc. (JDCFI) | VIE-Not Primary Beneficiary | Guarantees of debt and derivatives
Guarantee Obligations
Guarantee obligations maximum exposure	$ 810.2
Weighted average interest rate (as a percent)	2.60%
Maximum remaining maturity	2 years

Commitments and Contingencies_2

Commitments and Contingencies - Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Commitments
Provision for credit losses	$ (2.7)	$ 89.4	$ 45.4
Limited Liability Company John Deere Financial
Commitments
Unused commitments	111.2
Unfunded Commitments
Commitments
Provision for credit losses	1.8
Wholesale Receivables
Commitments
Unused commitments	11,500
Provision for credit losses	2.5	$ (1.9)	$ (4.2)
Customer Receivables
Commitments
Unused commitments	$ 28,700
Minimum percentage of unused commitments to extend credit to customers that relate to revolving charge accounts	95.00%

Other Comprehensive Income It_3

Other Comprehensive Income Items - After-Tax Components (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 4,524.4	$ 4,296.6
Accumulated Other Comprehensive Income (Loss)
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(49.4)	(77.8)	$ (97.4)
Cumulative Translation Adjustment
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(54.5)	(69.5)	(88.4)
Unrealized Gain (Loss) on Derivatives
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	6.8	(6.7)	(7)
Unrealized Gain (Loss) on Debt Securities
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (1.7)	$ (1.6)	$ (2)

Other Comprehensive Income It_4

Other Comprehensive Income Items - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Other comprehensive income (loss), before tax
Interest expense	$ (472.9)	$ (743.9)	$ (987.8)
Administrative and operating expenses	(406)	(470.6)	(533)
Total other comprehensive income (loss), before tax	31.9	19.8	(38.1)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	(3.5)	(0.2)	6.6
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	28.4	19.6	(31.5)
Cumulative Translation Adjustment
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	15	18.9	(7.7)
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	15	18.9	(7.7)
Unrealized Gain (Loss) on Derivatives
Other comprehensive income (loss), before tax
Other comprehensive income (loss) before reclassification, before tax	7.7	(17.4)	(22.2)
Total other comprehensive income (loss), before tax	17.1	0.5	(27.7)
Other comprehensive income (loss), tax (expense) credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(1.6)	3.6	4.7
Total other comprehensive income (loss), tax (expense) credit	(3.6)	(0.2)	5.9
Other comprehensive income (loss), after tax
Other comprehensive income (loss) before reclassification, after tax	6.1	(13.8)	(17.5)
Other comprehensive income (loss), net of income taxes	13.5	0.3	(21.8)
Unrealized Gain (Loss) on Derivatives | Interest rate contracts | Reclassifications of gains (losses) out of accumulated other comprehensive income
Other comprehensive income (loss), before tax
Interest expense	9.4	17.9	(5.5)
Other comprehensive income (loss), tax (expense) credit
Reclassification of realized (gain) loss, tax expense (credit)	(2)	(3.8)	1.2
Other comprehensive income (loss), after tax
Reclassification of realized (gain) loss, after tax	7.4	14.1	(4.3)
Unrealized Gain (Loss) on Debt Securities
Other comprehensive income (loss), before tax
Other comprehensive income (loss) before reclassification, before tax		(0.9)
Total other comprehensive income (loss), before tax	(0.2)	0.4	(2.7)
Other comprehensive income (loss), tax (expense) credit
Other comprehensive income (loss) before reclassification, tax (expense) credit		0.4
Total other comprehensive income (loss), tax (expense) credit	0.1		0.7
Other comprehensive income (loss), after tax
Other comprehensive income (loss) before reclassification, after tax		(0.5)
Other comprehensive income (loss), net of income taxes	$ (0.1)	0.4	$ (2)
Unrealized Gain (Loss) on Debt Securities | Reclassifications of gains (losses) out of accumulated other comprehensive income
Other comprehensive income (loss), before tax
Administrative and operating expenses		1.3
Other comprehensive income (loss), tax (expense) credit
Reclassification of realized (gain) loss, tax expense (credit)		(0.4)
Other comprehensive income (loss), after tax
Reclassification of realized (gain) loss, after tax		$ 0.9

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Fair Values of Financial Instruments
Securitization borrowings	$ 4,595.2	$ 4,656.2
Current maturities of long-term external borrowings	5,819.1	5,741.6
Long-term external borrowings	20,607.3	19,311.1
Level 3
Fair Values of Financial Instruments
Receivables financed - net	31,903.6	28,931.7
Retail notes securitized - net	4,694.2	4,772.9
Level 2
Fair Values of Financial Instruments
Securitization borrowings	4,600	4,697.6
Current maturities of long-term external borrowings	5,842.3	5,801.1
Long-term external borrowings	20,887.5	19,784.4
Carrying Value
Fair Values of Financial Instruments
Receivables financed - net	31,891.7	28,751.6
Retail notes securitized - net	4,648.9	4,676.6
Securitization borrowings	4,595.2	4,656.2
Current maturities of long-term external borrowings	5,819.1	5,741.6
Long-term external borrowings	$ 20,607.3	$ 19,311.1

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities - Recurring (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 2.1	$ 2.2
Derivative assets	192.7	587
Derivative liabilities	102.4	31
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Total assets	194.8	589.2
Total liabilities	102.4	31
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Interest rate contracts | Receivables from John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	186.2	575.5
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Interest rate contracts | Other payables to John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	96.1	29.4
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Foreign currency exchange contracts | Other Assets
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	1.1	3.8
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Foreign currency exchange contracts | Accounts payable and accrued expenses
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	4.8	0.9
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Cross-currency interest rate contracts | Receivables from John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	5.4	7.7
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Cross-currency interest rate contracts | Other payables to John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	1.5	0.7
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | International Debt Securities | Marketable Securities
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 2.1	$ 2.2

Fair Value Measurements - Contr

Fair Value Measurements - Contractual Maturities of Debt Securities (Details) $ in Millions	Oct. 31, 2021USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost basis	$ 4.8
Contractual Maturities of Debt Securities, Fair Value
Fair value	$ 2.1

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring, Level 3 Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019	May 03, 2020
Fair Value, Nonrecurring Level 3 Measurements from Impairments
Equipment on operating leases - net	$ 4,947.6	$ 5,297.8
Losses, Equipment on operating leases - net	0	21	$ 59.4
Losses, Other assets	$ 0	9.8	18
Fair Value, Nonrecurring Measurements | Level 3
Fair Value, Nonrecurring Level 3 Measurements from Impairments
Equipment on operating leases - net				$ 340.3
Losses, Equipment on operating leases - net		21	59.4
Other assets				56.5
Losses, Other assets		9.8	18
Total assets				$ 396.8
Total losses		$ 30.8	$ 77.4

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Cash Flow Hedges
Cash flow hedge loss recorded in OCI to be reclassified within twelve months	$ (1.1)
Gains or losses reclassified from OCI to earnings	0
Interest rate contracts | Cash flow hedges | Designated as Hedging Instruments
Cash Flow Hedges
Notional amounts	$ 2,700	$ 1,550

Derivative Instruments - Fair V

Derivative Instruments - Fair Value Hedges (Details) - Interest rate contracts - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Fair Value Hedges | Designated as Hedging Instruments
Fair Value Hedges
Notional amounts	$ 7,313.6	$ 6,525.7
Current Maturities of Long-term External Borrowings
Borrowings Designated in Fair Value Hedging Relationships
Carrying Amount of Hedged Item	189.5	2.5
Active Hedging Relationships	2.7
Discontinued Relationships	(1.7)	2.5
Total	1	2.5
Long-term External Borrowings
Borrowings Designated in Fair Value Hedging Relationships
Carrying Amount of Hedged Item	7,361.7	7,149.8
Active Hedging Relationships	48.3	530
Discontinued Relationships	222.7	121.6
Total	$ 271	$ 651.6

Derivative Instruments - Not De

Derivative Instruments - Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Interest rate contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 2,970.4	$ 2,336.6
Interest rate caps | Sold
Derivatives Not Designated as Hedging Instruments
Notional amounts	1,645.4	1,961.4
Interest rate caps | Purchased
Derivatives Not Designated as Hedging Instruments
Notional amounts	1,645.4	1,961.4
Foreign currency exchange contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	96.7	172.6
Cross-currency interest rate contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 237.5	$ 111.5

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Fair Value of Derivative Instruments
Total derivative assets	$ 192.7	$ 587
Total derivative liabilities	102.4	31
Designated as Hedging Instruments | Interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	162.8	565.2
Designated as Hedging Instruments | Interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	79	12.7
Not Designated as Hedging Instruments | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	28.8	18
Not Designated as Hedging Instruments | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	18.6	17.4
Not Designated as Hedging Instruments | Interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	23.4	10.3
Not Designated as Hedging Instruments | Interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	17.1	16.7
Not Designated as Hedging Instruments | Foreign currency exchange contracts | Other Assets
Fair Value of Derivative Instruments
Total derivative assets	1.1	3.8
Not Designated as Hedging Instruments | Foreign currency exchange contracts | Accounts payable and accrued expenses
Fair Value of Derivative Instruments
Total derivative liabilities	4.8	0.9
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	5.4	7.7
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	$ 1.5	$ 0.7

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ (21.4)	$ 51.6	$ 19.3
John Deere
Classification and gains (losses) including accrued interest expense related to derivative instruments
Gain (loss) on derivative transactions with affiliate party	(224.3)	468.7	561.9
Interest rate contracts
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	7.7	(17.4)	(22.2)
Interest rate contracts | Interest expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	(208.9)	477.3	583.2
Cash flow hedges, reclassified from OCI	(9.4)	(17.9)	5.5
Not designated as hedges, gains (losses)	5.2	(5.4)	(25.8)
Foreign currency exchange contracts | Administrative and operating expenses
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ (26.6)	$ 57	$ 45.1

Derivative Instruments - Counte

Derivative Instruments - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Oct. 31, 2021	Nov. 01, 2020
Derivative assets
Gross Amounts Recognized	$ 192.7	$ 587
Derivative liabilities
Gross Amounts Recognized	102.4	31
John Deere
Derivative assets
Gross Amounts Recognized	191.6	583.2
Netting Arrangements	(97.6)	(23.5)
Net Amount	94	559.7
Derivative liabilities
Gross Amounts Recognized	97.6	30.1
Netting Arrangements	(97.6)	(23.5)
Net Amount		6.6
External
Derivative assets
Gross Amounts Recognized	1.1	3.8
Netting Arrangements	(0.3)	(0.7)
Net Amount	0.8	3.1
Derivative liabilities
Gross Amounts Recognized	4.8	0.9
Netting Arrangements	(0.3)	(0.7)
Net Amount	4.5	0.2
Derivative Instruments | John Deere
Counterparty Risk and Collateral
Increase in maximum loss if derivative counterparties fail to meet obligations - loss sharing agreement	$ 0	$ 0

Employee-Separation Programs (D

Employee-Separation Programs (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 01, 2020	Nov. 03, 2019
2020 Employee-Separation Programs
Employee Separation Programs
Total employee-separation programs' expenses	$ 19.7
2020 Employee-Separation Programs | Health Care and Life Insurance
Employee Separation Programs
Curtailment expense	$ 5.5
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible List]	Selling, General and Administrative Expense
Voluntary Employee-Separation Programs
Employee Separation Programs
Total employee-separation programs' expenses		$ 8.4

Geographic Area Information (De

Geographic Area Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2021USD ($)item	Nov. 01, 2020USD ($)	Nov. 03, 2019USD ($)
Geographic Area Information
Number of operating segments | item	1
Revenues	$ 2,688	$ 2,807.6	$ 2,890.3
Receivables	36,669.6	33,557.3	32,821.5
U.S.
Geographic Area Information
Revenues	2,357.2	2,517.6	2,588.1
Receivables	30,756.7	28,196.8	27,854.5
Outside the U.S.
Geographic Area Information
Revenues	330.8	290	302.2
Receivables	$ 5,912.9	$ 5,360.5	$ 4,967

Unconsolidated Affiliated Com_3

Unconsolidated Affiliated Company (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019	Oct. 28, 2018
Operations:
Total revenue	$ 2,688	$ 2,807.6	$ 2,890.3
Net income	710.8	425.1	419.3
The Company's equity in net income	3	2.2	1.8
Financial Position:
Total assets	43,216.6	40,857.2
Total net assets	4,526.2	4,298.2	4,128.4	$ 4,070
The Company's share of net assets	$ 21.9	19.3
Unconsolidated Affiliated Companies
Ownership percentage in equity method investee	50.00%
Operations:
Total revenue	$ 16.6	13.4	12.4
Net income	5.9	4.4	3.6
The Company's equity in net income	3	2.2	$ 1.8
Financial Position:
Total assets	416.1	327.1
Total external borrowings	364.6	285.2
Total net assets	43.8	38.5
The Company's share of net assets	$ 21.9	$ 19.3

Subsequent Events - Dividends (

Subsequent Events - Dividends (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 26, 2021	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Subsequent Event
Cash dividends declared and paid to JDFS		$ 485	$ 275	$ 330
Subsequent Event
Subsequent Event
Dividend from JDFS paid to Deere & Co.	$ 40
Subsequent Event | John Deere Financial Services, Inc.
Subsequent Event
Cash dividends declared and paid to JDFS	$ 40

Subsequent Events - Revolving C

Subsequent Events - Revolving Credit Agreement (Details) - Bank Conduit Facility Revolving Credit Agreement - USD ($) $ in Millions	1 Months Ended
	Nov. 28, 2021	Oct. 31, 2021
Subsequent Event
Bank conduit facility capacity		$ 2,000
Subsequent Event
Subsequent Event
Bank conduit facility capacity	$ 1,000
Repurchase of outstanding short-term securitization borrowings	$ 511.1