Deere John Capital (DE22B) 10-Q 1 Sep 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jul. 31, 2022	Sep. 01, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jul. 31, 2022
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	P.O. Box 5328
Entity Address, City or Town	Madison
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53705-0328
City Area Code	800
Local Phone Number	438-7394
Title of 12(b) Security	2.00% Senior Notes Due 2031
Trading Symbol	JDCC 31
Security Exchange Name	NYSE
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,500
Current Fiscal Year End Date	--10-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000027673
Amendment Flag	false

Statements of Consolidated Inco

Statements of Consolidated Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Revenues
Finance income earned on retail notes	$ 256.9	$ 234.4	$ 739.7	$ 705.9
Lease revenues	237.7	255.7	715.7	775.5
Revolving charge account income	77.4	77.3	209.8	216.1
Finance income earned on wholesale receivables	89.9	77.5	220.8	231.1
Other income	27.3	38	97.5	86.6
Total revenues	689.2	682.9	1,983.5	2,015.2
Expenses
Interest expense	137.4	114.1	292.6	373.1
Operating expenses:
Depreciation of equipment on operating leases	166.2	180.1	500.8	559.5
Administrative and operating expenses	106.7	105.5	318.3	304.3
Fees paid to John Deere	36.5	40.8	175.8	111.7
Provision (credit) for credit losses	9.2	15.7	21.2	(0.5)
Total operating expenses	318.6	342.1	1,016.1	975
Total expenses	456	456.2	1,308.7	1,348.1
Income of consolidated group before income taxes	233.2	226.7	674.8	667.1
Provision for income taxes	61.3	41.5	157.8	139.5
Income of consolidated group	171.9	185.2	517	527.6
Equity in income of unconsolidated affiliate	0.6	0.7	3.6	2.2
Net income	172.5	185.9	520.6	529.8
Less: Net income (loss) attributable to noncontrolling interests		0.2	(0.1)	0.2
Net income attributable to the Company	$ 172.5	$ 185.7	$ 520.7	$ 529.6

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Statements of Consolidated Comprehensive Income
Net income	$ 172.5	$ 185.9	$ 520.6	$ 529.8
Other comprehensive income (loss), net of income taxes
Cumulative translation adjustment	(18.1)	(16.7)	(88.7)	22.6
Unrealized gain (loss) on derivatives	(2.2)	0.6	38.5	5.9
Unrealized loss on debt securities	(0.2)	(0.2)	(0.6)	(0.1)
Other comprehensive income (loss), net of income taxes	(20.5)	(16.3)	(50.8)	28.4
Comprehensive income of consolidated group	152	169.6	469.8	558.2
Less: Comprehensive income (loss) attributable to noncontrolling interests		0.2	(0.1)	0.2
Comprehensive income attributable to the Company	$ 152	$ 169.4	$ 469.9	$ 558

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Assets
Cash and cash equivalents	$ 657.1	$ 677	$ 682.7
Marketable securities	1.3	2.1	2.1
Receivables:
Total receivables	40,534.9	36,669.6	36,683.2
Allowance for credit losses	(127.3)	(129)	(139)
Total receivables - net	40,407.6	36,540.6	36,544.2
Other receivables	93.4	85.1	96.6
Receivables from John Deere	168.3	191.6	333.7
Equipment on operating leases - net	4,777.5	4,947.6	4,963.8
Notes receivable from John Deere	279.2	393.5	366
Investment in unconsolidated affiliate	22.3	21.9	21.6
Deferred income taxes	29.5	32.7	34.9
Other assets	315.7	324.5	367.2
Total Assets	46,751.9	43,216.6	43,412.8
Short-term external borrowings:
Commercial paper and other notes payable	4,092.8	678.9	507
Securitization borrowings	4,918.5	4,595.2	5,264.6
Current maturities of long-term external borrowings	6,476.7	5,819.1	5,746
Total short-term external borrowings	15,488	11,093.2	11,517.6
Notes payable to John Deere	4,499.8	5,619.4	5,859.2
Other payables to John Deere	446.6	97.6	45.7
Accounts payable and accrued expenses	870.2	876	839
Deposits held from dealers and merchants	128.6	131.8	125.5
Deferred income taxes	239.1	265.1	288.9
Long-term external borrowings	20,393.6	20,607.3	20,136.7
Total liabilities	42,065.9	38,690.4	38,812.6
Commitments and contingencies (Note 9)
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	1,482.8
Retained earnings	3,301.7	3,091	3,165
Accumulated other comprehensive loss	(100.2)	(49.4)	(49.4)
Total Company stockholder's equity	4,684.3	4,524.4	4,598.4
Noncontrolling interests	1.7	1.8	1.8
Total stockholder's equity	4,686	4,526.2	4,600.2
Total Liabilities and Stockholder's Equity	46,751.9	43,216.6	43,412.8
Securitized
Receivables:
Other assets	136.2	106.6	112.7
Total Assets	5,275.6	4,755.5	5,501
Retail notes | Unrestricted
Receivables:
Total receivables	22,262.8	21,343.5	19,009.6
Retail notes | Securitized
Receivables:
Total receivables	$ 5,154.1	$ 4,662.4	$ 5,408.2
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Revolving charge accounts
Receivables:
Total receivables	$ 4,003.9	$ 3,740.1	$ 3,687.7
Allowance for credit losses	(17.3)	(20.8)	(18.1)
Wholesale Receivables
Receivables:
Total receivables	8,151.3	5,951.3	7,731.2
Allowance for credit losses	(11.2)	(11.7)	(11.5)
Financing Leases
Receivables:
Total receivables	$ 962.8	$ 972.3	$ 846.5

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Consolidated Balance Sheets
Common stock, issued shares	2,500	2,500	2,500
Common stock, outstanding shares	2,500	2,500	2,500

Statements of Consolidated Cash

Statements of Consolidated Cash Flows - USD ($) $ in Millions	9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Cash Flows from Operating Activities:
Net income	$ 520.6	$ 529.8
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses	21.2	(0.5)
Provision for depreciation and amortization	519.5	576.6
Credit for deferred income taxes	(32.8)	(59.8)
Undistributed earnings of unconsolidated affiliate	(3.4)	(2)
Change in accounts payable and accrued expenses	(20.5)	(26.7)
Change in accrued income taxes payable/receivable	18.9	(22.8)
Other	(125.4)	48.8
Net cash provided by operating activities	898.1	1,043.4
Cash Flows from Investing Activities:
Cost of receivables acquired (excluding wholesale)	(17,199.4)	(16,373.9)
Collections of receivables (excluding wholesale)	15,059.4	13,854.5
Increase in wholesale receivables - net	(2,439.9)	(578.3)
Cost of equipment on operating leases acquired	(1,390.9)	(1,290.3)
Proceeds from sales of equipment on operating leases	1,105.9	1,121.4
Cost of notes receivable acquired from John Deere	(226.7)	(234.4)
Collections of notes receivable from John Deere	342.2	229.2
Other	(7)	(2.1)
Net cash used for investing activities	(4,756.4)	(3,273.9)
Cash Flows from Financing Activities:
Increase in commercial paper and other notes payable - net	3,407	319.5
Increase in securitization borrowings - net	325.7	610.4
Increase (decrease) in short-term borrowings with John Deere - net	(716.3)	578.4
Proceeds from issuance of long-term external borrowings	5,371.5	5,210.4
Payments of long-term external borrowings	(4,197.5)	(4,214.2)
Dividends paid	(310)	(230)
Debt issuance costs	(23.8)	(27.7)
Net cash provided by financing activities	3,856.6	2,246.8
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(13.3)	3.9
Net increase (decrease) in cash, cash equivalents, and restricted cash	(15)	20.2
Cash, cash equivalents, and restricted cash at beginning of period	772.8	769.4
Cash, cash equivalents, and restricted cash at end of period	757.8	789.6
Components of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	657.1	682.7
Restricted cash	$ 100.7	$ 106.9
Balance sheet location of restricted cash	Other assets	Other assets
Total cash, cash equivalents, and restricted cash	$ 757.8	$ 789.6

Statements of Changes in Consol

Statements of Changes in Consolidated Stockholder's Equity - USD ($) $ in Millions	Common Stock	Retained Earnings Cumulative Effect from Adoption	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interests	Cumulative Effect from Adoption	Total
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 (loss)			529.6		0.2		529.8
Other comprehensive income (loss)				28.4			28.4
Dividends declared			(230)				(230)
Balance at Aug. 01, 2021	1,482.8		3,165	(49.4)	1.8		4,600.2
Balance at May. 02, 2021	1,482.8		3,074.3	(33.1)	1.6		4,525.6
Increase (Decrease) in Stockholder's Equity
Net income (loss)			185.7		0.2		185.9
Other comprehensive income (loss)				(16.3)			(16.3)
Dividends declared			(95)				(95)
Balance at Aug. 01, 2021	1,482.8		3,165	(49.4)	1.8		4,600.2
Balance at Oct. 31, 2021	1,482.8		3,091	(49.4)	1.8		4,526.2
Increase (Decrease) in Stockholder's Equity
Net income (loss)			520.7		(0.1)		520.6
Other comprehensive income (loss)				(50.8)			(50.8)
Dividends declared			(310)				(310)
Balance at Jul. 31, 2022	1,482.8		3,301.7	(100.2)	1.7		4,686
Balance at May. 01, 2022	1,482.8		3,264.2	(79.7)	1.7		4,669
Increase (Decrease) in Stockholder's Equity
Net income (loss)			172.5				172.5
Other comprehensive income (loss)				(20.5)			(20.5)
Dividends declared			(135)				(135)
Balance at Jul. 31, 2022	$ 1,482.8		$ 3,301.7	$ (100.2)	$ 1.7		$ 4,686

Organization and Consolidation

Organization and Consolidation	9 Months Ended
	Jul. 31, 2022
Organization and Consolidation
Organization and Consolidation	(1)  Organization and Consolidation 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 provides and administers financing for retail purchases of new equipment manufactured by Deere & Company’s production and precision agriculture operations, small agriculture and turf operations, and construction and forestry operations and used equipment taken in trade for this equipment. References to agriculture and turf include both production and precision agriculture and small agriculture and turf. The Company generally purchases retail installment sales and loan contracts (retail notes) from Deere & Company and its wholly-owned subsidiaries (collectively called John Deere). John Deere generally acquires these retail notes through independent John Deere retail dealers. The Company also purchases and finances a limited amount of non-John Deere retail notes. The Company also finances and services revolving charge accounts, in most cases acquired from and offered through merchants in the agriculture and turf and construction and forestry markets (revolving charge accounts). Additionally, the Company provides wholesale financing to dealers of John Deere agriculture and turf and construction and forestry equipment, primarily to finance inventories of equipment for those dealers (wholesale receivables). In addition, the Company leases John Deere equipment and a limited amount of non-John Deere equipment to retail customers (financing and operating leases). The Company also offers credit enhanced international export financing to select customers and dealers, which generally involves John Deere products. 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 generally secures its Receivables, other than certain revolving charge accounts, by retaining as collateral security in the goods associated with those Receivables or with the use of other collateral. The Company uses a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The third quarter ends for fiscal years 2022 and 2021 were July 31, 2022 and August 1, 2021, respectively. Both third quarters contained 13 weeks, while both year-to-date periods contained 39 weeks. Unless otherwise stated, references to particular years or quarters refer to the Company's fiscal years generally ending in October and the associated periods in those fiscal years. The Company is the primary beneficiary of and consolidates certain variable interest entities (VIEs) that are special purpose entities (SPEs) related to the securitization of receivables. See Note 5 for more information on these SPEs.

Summary of Significant Accounti

Summary of Significant Accounting Policies and New Accounting Standards	9 Months Ended
	Jul. 31, 2022
Summary of Significant Accounting Policies and New Accounting Standards
Summary of Significant Accounting Policies and New Accounting Standards	(2)  Summary of Significant Accounting Policies and New Accounting Standards Quarterly Financial Statements The Company has prepared its interim consolidated financial statements, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted as permitted by such rules and regulations. All adjustments, consisting of normal recurring adjustments, have been included. Management believes the disclosures are adequate to present fairly the financial position, results of operations, and cash flows at the dates and for the periods presented. It is suggested these interim consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto appearing in the Company’s latest Annual Report on Form 10-K. Results for interim periods are not necessarily indicative of those to be expected for the fiscal year. 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. Actual results could differ from those estimates. New Accounting Standards The Company closely monitors all Accounting Standard Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) and other authoritative guidance. ASUs adopted in 2022 did not have a material impact on the Company’s financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which will be effective in the first quarter of fiscal year 2024. The ASU eliminates the accounting guidance for troubled debt restructurings, enhances disclosures for certain receivable modifications related to borrowers experiencing financial difficulty, and requires disclosure of current period gross write-offs by year of origination. ASU No. 2022-02 and other ASUs to be adopted in future periods are being evaluated and at this point are not expected to have a material impact on the Company’s financial statements. ​ ​

Other Comprehensive Income Item

Other Comprehensive Income Items	9 Months Ended
	Jul. 31, 2022
Other Comprehensive Income Items
Other Comprehensive Income Items	(3)  Other Comprehensive Income Items The after-tax components of accumulated other comprehensive income (loss) were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2021 Cumulative translation adjustment ​ $ (143.2) ​ $ (54.5) ​ $ (46.9) Unrealized gain (loss) on derivatives ​ ​ 45.3 ​ ​ 6.8 ​ ​ (.8) Unrealized loss on debt securities ​ ​ (2.3) ​ ​ (1.7) ​ ​ (1.7) Total accumulated other comprehensive income (loss) ​ $ (100.2) ​ $ (49.4) ​ $ (49.4) ​ Amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ Tax ​ After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended July 31, 2022 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ (18.1) ​ ​ ​ ​ $ (18.1) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ .8 ​ $ (.2) ​ .6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (3.6) ​ ​ .8 ​ ​ (2.8) ​ Net unrealized gain (loss) on derivatives ​ (2.8) ​ .6 ​ (2.2) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.3) ​ ​ .1 ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (21.2) ​ $ .7 ​ $ (20.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (88.7) ​ ​ ​ ​ $ (88.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 51.4 ​ $ (10.8) ​ 40.6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (2.7) ​ ​ .6 ​ ​ (2.1) ​ Net unrealized gain (loss) on derivatives ​ 48.7 ​ (10.2) ​ 38.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.9) ​ ​ .3 ​ ​ (.6) ​ Total other comprehensive income (loss) ​ $ (40.9) ​ $ (9.9) ​ $ (50.8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (16.7) ​ ​ ​ ​ $ (16.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.9) ​ $ .2 ​ (.7) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 1.6 ​ ​ (.3) ​ 1.3 ​ Net unrealized gain (loss) on derivatives ​ .7 ​ ​ (.1) ​ .6 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ ​ ​ ​ (.2) ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (16.0) ​ $ (.3) ​ $ (16.3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 22.6 ​ ​ ​ ​ $ 22.6 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.8) ​ $ .2 ​ (.6) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 8.2 ​ ​ (1.7) ​ 6.5 ​ Net unrealized gain (loss) on derivatives ​ 7.4 ​ (1.5) ​ 5.9 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 29.8 ​ $ (1.4) ​ $ 28.4 ​ ​

Receivables

Receivables	9 Months Ended
	Jul. 31, 2022
Receivables
Receivables	(4)  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 financing lease 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 and financing lease The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, Customer Receivables) by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,134.7 ​ $ 8,017.6 ​ $ 4,027.6 ​ $ 1,819.9 ​ $ 742.6 ​ $ 256.9 ​ $ 3,868.8 ​ $ 26,868.1 30-59 days past due ​ ​ 34.5 ​ ​ 55.4 ​ ​ 28.9 ​ ​ 16.9 ​ ​ 6.9 ​ ​ 2.9 ​ ​ 17.0 ​ ​ 162.5 60-89 days past due ​ ​ 14.0 ​ ​ 18.0 ​ ​ 10.9 ​ ​ 5.1 ​ ​ 2.0 ​ ​ .9 ​ ​ 4.2 ​ ​ 55.1 90+ days past due ​ ​ ​ ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ .5 Non-performing ​ ​ 16.0 ​ ​ 40.3 ​ ​ 29.6 ​ ​ 16.6 ​ ​ 12.8 ​ ​ 12.2 ​ ​ 6.6 ​ ​ 134.1 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,868.7 ​ ​ 1,712.0 ​ ​ 772.5 ​ ​ 297.7 ​ ​ 82.4 ​ ​ 17.2 ​ ​ 103.2 ​ ​ 4,853.7 30-59 days past due ​ ​ 40.0 ​ ​ 45.5 ​ ​ 22.1 ​ ​ 11.3 ​ ​ 3.4 ​ ​ 1.1 ​ ​ 2.6 ​ ​ 126.0 60-89 days past due ​ ​ 11.9 ​ ​ 13.0 ​ ​ 11.1 ​ ​ 4.1 ​ ​ 1.0 ​ ​ .3 ​ ​ .7 ​ ​ 42.1 90+ days past due ​ ​ ​ ​ ​ 7.3 ​ ​ 2.1 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.8 Non-performing ​ ​ 8.1 ​ ​ 50.6 ​ ​ 40.9 ​ ​ 20.2 ​ ​ 7.3 ​ ​ 3.8 ​ ​ .8 ​ ​ 131.7 Total Customer Receivables ​ $ 10,127.9 ​ $ 9,959.9 ​ $ 4,945.9 ​ $ 2,192.2 ​ $ 858.5 ​ $ 295.3 ​ $ 4,003.9 ​ $ 32,383.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,075.6 ​ $ 6,472.1 ​ $ 3,246.0 ​ $ 1,695.6 ​ $ 733.9 ​ $ 207.4 ​ $ 3,570.9 ​ $ 24,001.5 30-59 days past due ​ ​ 31.1 ​ ​ 42.1 ​ ​ 25.1 ​ ​ 14.9 ​ ​ 5.3 ​ ​ 2.7 ​ ​ 11.4 ​ ​ 132.6 60-89 days past due ​ ​ 11.7 ​ ​ 21.4 ​ ​ 10.0 ​ ​ 4.4 ​ ​ 2.6 ​ ​ 1.1 ​ ​ 3.4 ​ ​ 54.6 90+ days past due ​ ​ .1 ​ ​ .5 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.0 Non-performing ​ ​ 11.0 ​ ​ 45.8 ​ ​ 31.6 ​ ​ 28.3 ​ ​ 13.1 ​ ​ 14.4 ​ ​ 5.7 ​ ​ 149.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,765.6 ​ ​ 1,413.7 ​ ​ 715.0 ​ ​ 281.3 ​ ​ 63.2 ​ ​ 10.6 ​ ​ 91.5 ​ ​ 4,340.9 30-59 days past due ​ ​ 28.2 ​ ​ 38.0 ​ ​ 21.8 ​ ​ 8.0 ​ ​ 2.7 ​ ​ .7 ​ ​ 2.9 ​ ​ 102.3 60-89 days past due ​ ​ 11.3 ​ ​ 16.1 ​ ​ 8.6 ​ ​ 4.2 ​ ​ 1.3 ​ ​ .3 ​ ​ 1.1 ​ ​ 42.9 90+ days past due ​ ​ 3.2 ​ ​ ​ ​ ​ 4.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7.7 Non-performing ​ ​ 9.0 ​ ​ 44.1 ​ ​ 36.0 ​ ​ 17.7 ​ ​ 7.2 ​ ​ 3.8 ​ ​ .8 ​ ​ 118.6 Total Customer Receivables ​ $ 9,946.8 ​ $ 8,093.8 ​ $ 4,098.8 ​ $ 2,054.6 ​ $ 829.3 ​ $ 241.0 ​ $ 3,687.7 ​ $ 28,952.0 ​ The credit quality analysis of wholesale receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 286.0 ​ $ 96.3 ​ $ 32.7 ​ $ 5.9 ​ $ .8 ​ $ 1.6 ​ $ 6,347.8 ​ $ 6,771.1 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10.6 ​ ​ 10.6 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.6 ​ ​ 5.6 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 8.4 ​ ​ 31.5 ​ ​ 1.7 ​ ​ .7 ​ ​ .2 ​ ​ ​ ​ ​ 1,318.5 ​ ​ 1,361.0 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 ​ ​ 3.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 294.4 ​ $ 127.8 ​ $ 34.4 ​ $ 6.6 ​ $ 1.0 ​ $ 1.6 ​ $ 7,685.5 ​ $ 8,151.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ 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+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12.0 ​ ​ 12.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.7 ​ ​ 6.7 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 39.4 ​ ​ 4.0 ​ ​ 3.4 ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ 1,199.6 ​ ​ 1,246.7 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.4 ​ ​ 2.4 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 379.0 ​ $ 81.1 ​ $ 24.5 ​ $ 9.5 ​ $ 2.7 ​ $ .4 ​ $ 5,454.1 ​ $ 5,951.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 260.9 ​ $ 106.2 ​ $ 30.6 ​ $ 12.5 ​ $ 3.1 ​ $ .5 ​ $ 5,946.0 ​ $ 6,359.8 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16.7 ​ ​ 16.7 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4.3 ​ ​ 4.3 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 7.5 ​ ​ 5.1 ​ ​ 3.9 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ 1,332.0 ​ ​ 1,348.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.5 ​ ​ 1.5 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 268.4 ​ $ 111.3 ​ $ 34.5 ​ $ 12.9 ​ $ 3.1 ​ $ .5 ​ $ 7,300.5 ​ $ 7,731.2 ​ 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. 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 statements of consolidated income when the dealer’s withholding account is charged. Recoveries from freestanding credit enhancements recorded in other income were $2.4 million for the third quarter and $5.4 million for the first nine months of 2022, respectively, compared with $3.2 million and $9.8 million for the same periods last year, respectively. An analysis of the allowance for credit losses and investment in Receivables during 2022 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ Provision for credit losses* ​ 5.2 ​ ​ 3.2 ​ ​ ​ ​ ​ 8.4 ​ Write-offs ​ (6.1) ​ ​ (10.5) ​ ​ ​ ​ ​ (16.6) ​ Recoveries ​ 4.1 ​ ​ 7.3 ​ ​ ​ ​ ​ 11.4 ​ Translation adjustments ​ (.3) ​ ​ (.1) ​ ​ ​ ​ ​ (.4) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ Provision (credit) for credit losses* ​ 24.0 ​ ​ (3.7) ​ ​ .3 ​ ​ 20.6 ​ Write-offs ​ (31.9) ​ ​ (22.0) ​ ​ (.2) ​ ​ (54.1) ​ Recoveries ​ 10.7 ​ ​ 22.2 ​ ​ ​ ​ ​ 32.9 ​ Translation adjustments ​ (.5) ​ ​ ​ ​ ​ (.6) ​ ​ (1.1) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 28,379.7 ​ $ 4,003.9 ​ $ 8,151.3 ​ $ 40,534.9 ​ ​ * The allowance for credit losses increased marginally in the third quarter, in part due to higher portfolio balances, and was slightly lower for the first nine months of 2022, reflecting continued positive agricultural market conditions. As part of the allowance setting process, the Company continues to monitor the economy, including potential impacts of inflation, commodity prices, and interest rates on portfolio performance and adjustments to the allowance are incorporated, as necessary. An analysis of the allowance for credit losses and investment in Receivables during 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 101.3 ​ $ 18.9 ​ $ 9.6 ​ $ 129.8 ​ Provision (credit) for credit losses* ​ 13.6 ​ ​ (.1) ​ ​ 2.2 ​ ​ 15.7 ​ Write-offs ​ (8.5) ​ ​ (8.4) ​ ​ (.2) ​ ​ (17.1) ​ Recoveries ​ 3.2 ​ ​ 7.6 ​ ​ ​ ​ ​ 10.8 ​ Translation adjustments ​ (.2) ​ ​ .1 ​ ​ (.1) ​ ​ (.2) ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ ​ 19.7 ​ Provision (credit) for credit losses* ​ 11.2 ​ ​ (15.9) ​ ​ 2.1 ​ ​ (2.6) ​ Write-offs ​ (19.7) ​ ​ (22.7) ​ ​ (.3) ​ ​ (42.7) ​ Recoveries ​ 8.1 ​ ​ 26.6 ​ ​ ​ ​ ​ 34.7 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .4 ​ ​ .8 ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 25,264.3 ​ $ 3,687.7 ​ $ 7,731.2 ​ $ 36,683.2 ​ ​ * Troubled Debt Restructuring A troubled debt restructuring is 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 the first nine months of 2022, the Company identified 175 Receivable contracts, primarily retail notes, as troubled debt restructurings with aggregate balances of $6.5 million pre-modification and $5.3 million post-modification. During the first nine months of 2021, there were 287 Receivable contracts, primarily retail notes, with aggregate balances of $10.3 million pre-modification and $9.4 million post-modification. During these same periods, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At July 31, 2022, the Company had no commitments to provide additional financing to customers whose accounts were modified in troubled debt restructurings.

Securitization of Receivables

Securitization of Receivables	9 Months Ended
	Jul. 31, 2022
Securitization of Receivables
Securitization of Receivables	(5)  Securitization of Receivables As a part of its overall funding strategy, the Company 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. The components of consolidated restricted assets, secured borrowings, and other liabilities related to secured borrowings in securitization transactions were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2021 Retail notes securitized ​ $ 5,154.1 ​ $ 4,662.4 ​ $ 5,408.2 ​ Allowance for credit losses ​ (14.7) ​ (13.5) ​ (19.9) ​ Other assets (primarily restricted cash) ​ 136.2 ​ 106.6 ​ 112.7 ​ Total restricted securitized assets ​ $ 5,275.6 ​ $ 4,755.5 ​ $ 5,501.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 4,918.5 ​ $ 4,595.2 ​ $ 5,264.6 ​ Accrued interest on borrowings ​ 3.4 ​ 1.7 ​ 2.1 ​ Total liabilities related to restricted securitized assets ​ $ 4,921.9 ​ $ 4,596.9 ​ $ 5,266.7 ​ ​

Leases

Leases	9 Months Ended
	Jul. 31, 2022
Leases
Leases	(6)  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 sheets. Operating leases are reported in equipment on operating leases – net on the consolidated balance sheets. Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ July 31 ​ August 1 ​ July 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 Sales-type and direct financing lease revenues ​ $ 14.7 ​ $ 12.7 ​ $ 40.2 ​ $ 35.8 Operating lease revenues ​ ​ 217.9 ​ ​ 237.9 ​ ​ 659.8 ​ ​ 724.3 Variable lease revenues ​ 5.6 ​ 6.5 ​ 17.6 ​ 20.4 Total lease revenues ​ $ 238.2 ​ $ 257.1 ​ $ 717.6 ​ $ 780.5 ​ Variable lease revenues reported above primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees. Excess use and damage fees are reported in other income on the statements of consolidated income. Excess use and damage fees were $.5 million and $1.9 million for the third quarter and first nine months ended July 31, 2022, respectively, compared with $1.4 million and $5.0 million for the same periods last year, respectively. ​ The cost of equipment on operating leases by market was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2021 Agriculture and turf ​ $ 4,951.3 ​ $ 5,053.4 ​ $ 5,043.4 Construction and forestry ​ ​ 1,178.9 ​ 1,323.6 ​ 1,391.3 Total ​ ​ 6,130.2 ​ ​ 6,377.0 ​ ​ 6,434.7 Accumulated depreciation ​ (1,352.7) ​ ​ (1,429.4) ​ ​ (1,470.9) Equipment on operating leases - net ​ $ 4,777.5 ​ $ 4,947.6 ​ $ 4,963.8 ​ Total operating lease residual values at July 31, 2022, October 31, 2021, and August 1, 2021 were $3,352.8 million, $3,547.6 million, and $3,598.9 million, respectively. Certain operating leases are subject to residual value guarantees. The total residual value guarantees were $464.9 million, $295.8 million, and $247.3 million at July 31, 2022, October 31, 2021, and August 1, 2021, 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 Company discusses with lessees and dealers options to purchase the equipment or extend the lease prior to operating lease maturity. Equipment returned to the Company upon termination of leases is remarketed by the Company. The matured operating lease inventory balances at July 31, 2022, October 31, 2021, and August 1, 2021 were $16.6 million, $25.4 million, and $46.9 million, respectively. Matured operating lease inventory is reported in other assets on the consolidated balance sheets.

Notes Receivable from and Payab

Notes Receivable from and Payable to John Deere	9 Months Ended
	Jul. 31, 2022
Notes Receivable from and Payable to John Deere
Notes Receivable from and Payable to John Deere	(7)  Notes Receivable from and Payable to John Deere The Company provides loans to and holds other receivables from affiliated companies. The loan agreements mature over the next seven years and charge interest at competitive market interest rates. Interest earned from John Deere is recorded in other income and was $2.5 million for the third quarter and $12.7 million in the first nine months of 2022, respectively, compared with $3.8 million and $10.3 million for the same periods last year, respectively. The Company had notes receivable from John Deere with the following affiliated companies as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ ​ 2022 ​ 2021 ​ 2021 ​ Limited Liability Company John Deere Financial ​ ​ ​ ​ $ 233.7 ​ $ 198.6 ​ Banco John Deere S.A. ​ $ 270.4 ​ 159.8 ​ 167.4 ​ John Deere Agricultural Holdings, Inc. ​ 8.8 ​ ​ ​ ​ ​ ​ ​ Total Notes Receivable from John Deere ​ $ 279.2 ​ $ 393.5 ​ $ 366.0 ​ ​ Limited Liability Company John Deere Financial (JDF Russia) is a John Deere financial services affiliate in Russia. The Company previously provided ruble-denominated loans to JDF Russia to fund JDF Russia’s retail portfolio. The Company had entered into non-designated cross-currency interest rate contracts and foreign currency exchange contracts to hedge against interest rate and foreign currency exchange risk associated with the loans. In April 2022, the loans to JDF Russia and related derivative contracts were assumed by Deere & Company for cash at carrying value as of the date of assumption. John Deere Agricultural Holdings, Inc. (JDAH) is a John Deere equipment operations affiliate in Russia. The Company purchased wholesale receivables from this affiliate related to independent John Deere dealers in Russia. The affiliate receivable from JDAH represents cash collections on the Russia wholesale portfolio that have not yet been remitted to the Company. The remaining outstanding wholesale portfolio in Russia held by the Company did not represent a significant portion of its wholesale receivable portfolio at July 31, 2022. John Deere currently requires prepayment of existing equipment inventory in Russia, and, as such, no further wholesale receivables are being purchased by the Company. The Company also obtains funding from affiliated companies. At July 31, 2022, October 31, 2021, and August 1, 2021, the Company had notes payable to John Deere of $4,499.8 million, $5,619.4 million and $5,859.2 million, respectively. The intercompany borrowings are primarily short-term in nature or contain a due on demand call option. At July 31, 2022, $509.9 million of the intercompany borrowings were long-term 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. Interest expense paid to John Deere, which is recorded in fees paid to John Deere, was $23.7 million for the third quarter and $57.6 million for the first nine months of 2022, compared with $14.9 million and $36.3 million for the same periods last year, respectively.

Long-Term External Borrowings

Long-Term External Borrowings	9 Months Ended
	Jul. 31, 2022
Long-Term External Borrowings
Long-Term External Borrowings	(8)  Long-Term External Borrowings Long-term external borrowings of the Company at July 31, 2022, October 31, 2021, and August 1, 2021 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ 2022 ​ 2021 ​ 2021 Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes $ 20,450.3 ​ $ 20,649.2 ​ $ 20,174.1 Other notes ​ ​ 2.9 ​ ​ 15.6 ​ ​ 19.8 Total senior debt ​ ​ 20,453.2 ​ ​ 20,664.8 ​ ​ 20,193.9 Unamortized debt discount and debt issuance costs ​ ​ (59.6) ​ ​ (57.5) ​ ​ (57.2) Total ​ $ 20,393.6 ​ $ 20,607.3 ​ $ 20,136.7 ​ Medium-term notes are primarily offered by prospectus and issued at fixed and variable rates. The medium-term notes in the table above include unamortized fair value adjustments related to interest rate swaps. The principal balances of the medium-term notes were $20,796.7 million, $20,378.2 million, and $19,722.5 million at July 31, 2022, October 31, 2021, and August 1, 2021, respectively, and have serial maturity dates from 2023 through 2032. All outstanding medium-term notes and other notes in the table above are senior unsecured borrowings and generally rank equally with each other. In April 2022, the Company issued $600.0 million of sustainability-linked medium-term notes with an initial interest rate of 3.35 percent, which are due in 2029. This transaction supports John Deere’s commitment to environmental sustainability. Failure to meet the stated sustainability performance target will result in a 25-basis point increase to the interest rate payable on the 2029 notes from and including April 2026.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jul. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	(9)  Commitments and Contingencies At July 31, 2022, John Deere Financial Inc., the John Deere finance subsidiary in Canada, had $2,186.5 million of medium-term notes outstanding, and a fair value liability of $101.9 million for derivatives outstanding, prior to considering applicable netting provisions, with notional amounts of $2,772.1 million that were guaranteed by Capital Corporation. The weighted average interest rate on the medium-term notes at July 31, 2022 was 2.0 percent with a maximum remaining maturity of approximately seven 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 $624.7 million at July 31, 2022. The weighted average interest rate on the debt at July 31, 2022 was 2.8 percent with a maximum remaining maturity of approximately one year. 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 $8.6 billion at July 31, 2022. The amount of unused commitments to extend credit to customers was $31.7 billion at July 31, 2022. A significant portion of these commitments is not expected to be fully drawn upon; therefore, the total commitment amounts likely 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 reserve for estimated credit losses on unfunded commitments that are not unconditionally cancellable of $3.5 million at July 31, 2022, which is recorded in accounts payable and accrued expenses on the consolidated balance sheets. At July 31, 2022, the Company had restricted other assets associated with borrowings related to securitizations (see Note 5). Excluding the securitization programs, the remaining balance of restricted other assets was not material as of July 31, 2022. 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jul. 31, 2022
Fair Value Measurements
Fair Value Measurements	(10)   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 were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ October 31, 2021 ​ August 1, 2021 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 35,268.2 ​ $ 34,617.9 ​ $ 31,891.7 ​ $ 31,903.6 ​ $ 31,155.9 ​ $ 31,264.6 ​ Retail notes securitized – net ​ 5,139.4 ​ 4,988.8 ​ 4,648.9 ​ 4,694.2 ​ 5,388.3 ​ 5,454.3 ​ Securitization borrowings ​ 4,918.5 ​ 4,861.4 ​ 4,595.2 ​ 4,600.0 ​ 5,264.6 ​ 5,289.3 ​ Current maturities of long-term external borrowings ​ 6,476.7 ​ 6,426.0 ​ 5,819.1 ​ 5,842.3 ​ 5,746.0 ​ 5,800.4 ​ Long-term external borrowings ​ 20,393.6 ​ 20,087.6 ​ 20,607.3 ​ 20,887.5 ​ 20,136.7 ​ 20,557.9 ​ ​ Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings. 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 fair value on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 October 31 August 1 ​ ​ 2022 ​ 2021 ​ 2021 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.3 ​ $ 2.1 ​ $ 2.1 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 168.3 ​ ​ 191.6 ​ ​ 333.7 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 1.8 ​ 1.1 ​ .5 ​ Total assets ​ $ 171.4 ​ $ 194.8 ​ $ 336.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 446.6 ​ $ 97.6 ​ $ 45.7 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 22.1 ​ 4.8 ​ 1.7 ​ Total liabilities ​ $ 468.7 ​ $ 102.4 ​ $ 47.4 ​ All fair value measurements in the table above were Level 2. Excluded from the table above were 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 eight years. At July 31, 2022, the amortized cost basis and fair value of these available-for-sale debt securities were $4.9 million and $1.3 million, respectively. Unrealized losses at July 31, 2022 were not recognized in income due to the ability and intent to hold to maturity. There were no assets or liabilities measured at fair value on a nonrecurring basis, other than Receivables with specific allowances which were not material, during each of the periods ended July 31, 2022, October 31, 2021, and August 1, 2021. The following is a description of the valuation methodologies the Company uses to measure certain balance sheet items at fair value: Marketable securities Derivatives – Receivables –

Derivative Instruments

Derivative Instruments	9 Months Ended
	Jul. 31, 2022
Derivative Instruments
Derivative Instruments	(11)  Derivative Instruments It is the Company’s policy 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 consolidated balance sheets. Cash collateral received or paid is not offset against the derivative fair values on the consolidated balance sheets. The cash flows from these contracts are recorded in operating activities in the statements of consolidated cash flows. Each derivative is designated as a cash flow hedge, a fair value hedge, or remains undesignated. 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. 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 July 31, 2022, October 31, 2021, and August 1, 2021 were $2,350.0 million, $2,700.0 million, and $1,750.0 million, respectively. Fair value gains or losses on these cash flow hedges were recorded in other comprehensive income (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 amount of gain recorded in OCI at July 31, 2022 that is expected to be reclassified to interest expense in the next twelve months if interest rates remain unchanged is $34.3 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 July 31, 2022, October 31, 2021, and August 1, 2021 were $7,600.0 million, $7,313.6 million, and $7,934.9 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 in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows (in millions of dollars). Fair value hedging adjustments are included in the carrying amount of the hedged item. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Hedging Relationships ​ Discontinued Hedging Relationship ​ ​ ​ Carrying ​ Cumulative ​ Carrying Amount ​ Cumulative ​ ​ ​ Amount of ​ Fair Value ​ of Formerly ​ Fair Value ​ July 31, 2022 ​ Hedged Item ​ Hedging Adjustment ​ Hedged Item ​ Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 2,604.6 ​ $ 5.0 ​ Long-term external borrowings ​ $ 7,178.1 ​ $ (385.9) ​ ​ 5,728.0 ​ ​ 39.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 191.2 ​ $ 2.7 ​ $ 1,997.4 ​ $ (1.7) ​ Long-term external borrowings ​ ​ 7,139.0 ​ ​ 48.3 ​ ​ 6,287.3 ​ ​ 222.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 188.7 ​ $ 4.0 ​ $ 1,898.4 ​ $ (.9) ​ Long-term external borrowings ​ ​ 7,975.1 ​ ​ 261.3 ​ ​ 5,830.9 ​ ​ 190.3 ​ ​ 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 July 31, 2022, October 31, 2021, and August 1, 2021 were $3,313.2 million, $2,970.4 million, and $2,921.4 million, the foreign currency exchange contracts were $930.0 million, $96.7 million, and $98.0 million, and the cross-currency interest rate contracts were $125.7 million, $237.5 million, and $197.4 million, respectively. To facilitate borrowings through securitization of retail notes, interest rate caps were sold with notional amounts of $1,144.8 million, $1,645.4 million, and $1,807.6 million at July 31, 2022, October 31, 2021, and August 1, 2021, respectively. Interest rate caps were also purchased with notional amounts of $1,144.8 million, $1,645.4 million, and $1,807.6 million at the same dates, respectively. The fair value gains or losses from derivatives not designated as hedging instruments were recorded in the statements of consolidated income, generally offsetting over time the exposure on the hedged item. Fair values of derivative instruments in the consolidated balance sheets were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 October 31 August 1 ​ ​ 2022 ​ 2021 ​ 2021 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 81.8 ​ $ 162.8 ​ $ 321.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 82.5 ​ 23.4 ​ 10.7 ​ Cross-currency interest rate contracts ​ 4.0 ​ 5.4 ​ 2.0 ​ Total not designated ​ 86.5 ​ 28.8 ​ 12.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.8 ​ 1.1 ​ .5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 170.1 ​ $ 192.7 ​ $ 334.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 391.0 ​ $ 79.0 ​ $ 32.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 54.5 ​ 17.1 ​ 11.1 ​ Cross-currency interest rate contracts ​ ​ 1.1 ​ ​ 1.5 ​ 2.3 ​ Total not designated ​ 55.6 ​ 18.6 ​ 13.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 22.1 ​ 4.8 ​ 1.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 468.7 ​ $ 102.4 ​ $ 47.4 ​ ​ The classification and gains (losses) including accrued interest expense related to derivative instruments on the statements of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ July 31 ​ August 1 ​ July 31 ​ August 1 ​ 2022 2021 2022 2021 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ 145.5 ​ $ 139.9 ​ $ (483.5) ​ $ (70.7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) .8 ​ (.9) ​ 51.4 ​ (.8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense 3.6 ​ (1.6) ​ 2.7 ​ (8.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ (3.8) ​ $ (2.9) ​ $ 39.3 ​ $ (4.5) ​ Foreign currency exchange contracts - Administrative and operating expenses * 18.5 ​ (4.5) ​ 83.0 ​ (20.0) ​ Total not designated ​ $ 14.7 ​ $ (7.4) ​ $ 122.3 ​ $ (24.5) ​ * 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 for the three months ended July 31, 2022 and August 1, 2021 were gains of $145.2 million and $133.3 million, respectively. The amounts the Company recognized on these affiliate party transactions for the nine months ended July 31, 2022 and August 1, 2021 were losses of $432.3 million and $91.6 million, 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 transactions are with both unrelated external counterparties and with John Deere. For derivatives transactions 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 the Company 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 July 31, 2022, October 31, 2021, and August 1, 2021. 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 any collateral received or paid were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 1.8 ​ $ (.4) ​ ​ ​ ​ $ 1.4 ​ John Deere ​ 168.3 ​ ​ (105.3) ​ ​ ​ ​ 63.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 22.1 ​ (.4) ​ ​ ​ ​ 21.7 ​ John Deere ​ 446.6 ​ (105.3) ​ ​ ​ 341.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net 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) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ .5 ​ $ (.1) ​ ​ ​ ​ $ .4 ​ John Deere ​ 333.7 ​ ​ (43.1) ​ ​ ​ ​ 290.6 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 1.7 ​ (.1) ​ ​ ​ ​ 1.6 ​ John Deere ​ 45.7 ​ (43.1) ​ ​ ​ 2.6 ​ ​

Organization and Consolidation

Organization and Consolidation (Policies)	9 Months Ended
	Jul. 31, 2022
Organization and Consolidation
Fiscal Year	The Company uses a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The third quarter ends for fiscal years 2022 and 2021 were July 31, 2022 and August 1, 2021, respectively. Both third quarters contained 13 weeks, while both year-to-date periods contained 39 weeks. Unless otherwise stated, references to particular years or quarters refer to the Company's fiscal years generally ending in October and the associated periods in those fiscal years.
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. Actual results could differ from those estimates.
Allowance for Credit Losses, Policy	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 financing lease 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 and financing lease 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.
Troubled Debt Restructuring, Policy	A troubled debt restructuring is 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.
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.
Derivative Financial Instruments	It is the Company’s policy 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 consolidated balance sheets. Cash collateral received or paid is not offset against the derivative fair values on the consolidated balance sheets. The cash flows from these contracts are recorded in operating activities in the statements of consolidated cash flows. Each derivative is designated as a cash flow hedge, a fair value hedge, or remains undesignated. 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.

Other Comprehensive Income It_2

Other Comprehensive Income Items (Tables)	9 Months Ended
	Jul. 31, 2022
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) were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2021 Cumulative translation adjustment ​ $ (143.2) ​ $ (54.5) ​ $ (46.9) Unrealized gain (loss) on derivatives ​ ​ 45.3 ​ ​ 6.8 ​ ​ (.8) Unrealized loss on debt securities ​ ​ (2.3) ​ ​ (1.7) ​ ​ (1.7) Total accumulated other comprehensive income (loss) ​ $ (100.2) ​ $ (49.4) ​ $ (49.4)
Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects	Amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ Tax ​ After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended July 31, 2022 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ (18.1) ​ ​ ​ ​ $ (18.1) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ .8 ​ $ (.2) ​ .6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (3.6) ​ ​ .8 ​ ​ (2.8) ​ Net unrealized gain (loss) on derivatives ​ (2.8) ​ .6 ​ (2.2) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.3) ​ ​ .1 ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (21.2) ​ $ .7 ​ $ (20.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (88.7) ​ ​ ​ ​ $ (88.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 51.4 ​ $ (10.8) ​ 40.6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (2.7) ​ ​ .6 ​ ​ (2.1) ​ Net unrealized gain (loss) on derivatives ​ 48.7 ​ (10.2) ​ 38.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.9) ​ ​ .3 ​ ​ (.6) ​ Total other comprehensive income (loss) ​ $ (40.9) ​ $ (9.9) ​ $ (50.8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (16.7) ​ ​ ​ ​ $ (16.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.9) ​ $ .2 ​ (.7) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 1.6 ​ ​ (.3) ​ 1.3 ​ Net unrealized gain (loss) on derivatives ​ .7 ​ ​ (.1) ​ .6 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ ​ ​ ​ (.2) ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (16.0) ​ $ (.3) ​ $ (16.3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 22.6 ​ ​ ​ ​ $ 22.6 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.8) ​ $ .2 ​ (.6) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 8.2 ​ ​ (1.7) ​ 6.5 ​ Net unrealized gain (loss) on derivatives ​ 7.4 ​ (1.5) ​ 5.9 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 29.8 ​ $ (1.4) ​ $ 28.4 ​

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Jul. 31, 2022
Receivables
Analysis of the Allowance for Credit Losses and Investment in Receivables	An analysis of the allowance for credit losses and investment in Receivables during 2022 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ Provision for credit losses* ​ 5.2 ​ ​ 3.2 ​ ​ ​ ​ ​ 8.4 ​ Write-offs ​ (6.1) ​ ​ (10.5) ​ ​ ​ ​ ​ (16.6) ​ Recoveries ​ 4.1 ​ ​ 7.3 ​ ​ ​ ​ ​ 11.4 ​ Translation adjustments ​ (.3) ​ ​ (.1) ​ ​ ​ ​ ​ (.4) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ Provision (credit) for credit losses* ​ 24.0 ​ ​ (3.7) ​ ​ .3 ​ ​ 20.6 ​ Write-offs ​ (31.9) ​ ​ (22.0) ​ ​ (.2) ​ ​ (54.1) ​ Recoveries ​ 10.7 ​ ​ 22.2 ​ ​ ​ ​ ​ 32.9 ​ Translation adjustments ​ (.5) ​ ​ ​ ​ ​ (.6) ​ ​ (1.1) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 28,379.7 ​ $ 4,003.9 ​ $ 8,151.3 ​ $ 40,534.9 ​ ​ * An analysis of the allowance for credit losses and investment in Receivables during 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 101.3 ​ $ 18.9 ​ $ 9.6 ​ $ 129.8 ​ Provision (credit) for credit losses* ​ 13.6 ​ ​ (.1) ​ ​ 2.2 ​ ​ 15.7 ​ Write-offs ​ (8.5) ​ ​ (8.4) ​ ​ (.2) ​ ​ (17.1) ​ Recoveries ​ 3.2 ​ ​ 7.6 ​ ​ ​ ​ ​ 10.8 ​ Translation adjustments ​ (.2) ​ ​ .1 ​ ​ (.1) ​ ​ (.2) ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ ​ 19.7 ​ Provision (credit) for credit losses* ​ 11.2 ​ ​ (15.9) ​ ​ 2.1 ​ ​ (2.6) ​ Write-offs ​ (19.7) ​ ​ (22.7) ​ ​ (.3) ​ ​ (42.7) ​ Recoveries ​ 8.1 ​ ​ 26.6 ​ ​ ​ ​ ​ 34.7 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .4 ​ ​ .8 ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 25,264.3 ​ $ 3,687.7 ​ $ 7,731.2 ​ $ 36,683.2 ​ ​ *
Customer Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, Customer Receivables) by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,134.7 ​ $ 8,017.6 ​ $ 4,027.6 ​ $ 1,819.9 ​ $ 742.6 ​ $ 256.9 ​ $ 3,868.8 ​ $ 26,868.1 30-59 days past due ​ ​ 34.5 ​ ​ 55.4 ​ ​ 28.9 ​ ​ 16.9 ​ ​ 6.9 ​ ​ 2.9 ​ ​ 17.0 ​ ​ 162.5 60-89 days past due ​ ​ 14.0 ​ ​ 18.0 ​ ​ 10.9 ​ ​ 5.1 ​ ​ 2.0 ​ ​ .9 ​ ​ 4.2 ​ ​ 55.1 90+ days past due ​ ​ ​ ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ .5 Non-performing ​ ​ 16.0 ​ ​ 40.3 ​ ​ 29.6 ​ ​ 16.6 ​ ​ 12.8 ​ ​ 12.2 ​ ​ 6.6 ​ ​ 134.1 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,868.7 ​ ​ 1,712.0 ​ ​ 772.5 ​ ​ 297.7 ​ ​ 82.4 ​ ​ 17.2 ​ ​ 103.2 ​ ​ 4,853.7 30-59 days past due ​ ​ 40.0 ​ ​ 45.5 ​ ​ 22.1 ​ ​ 11.3 ​ ​ 3.4 ​ ​ 1.1 ​ ​ 2.6 ​ ​ 126.0 60-89 days past due ​ ​ 11.9 ​ ​ 13.0 ​ ​ 11.1 ​ ​ 4.1 ​ ​ 1.0 ​ ​ .3 ​ ​ .7 ​ ​ 42.1 90+ days past due ​ ​ ​ ​ ​ 7.3 ​ ​ 2.1 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.8 Non-performing ​ ​ 8.1 ​ ​ 50.6 ​ ​ 40.9 ​ ​ 20.2 ​ ​ 7.3 ​ ​ 3.8 ​ ​ .8 ​ ​ 131.7 Total Customer Receivables ​ $ 10,127.9 ​ $ 9,959.9 ​ $ 4,945.9 ​ $ 2,192.2 ​ $ 858.5 ​ $ 295.3 ​ $ 4,003.9 ​ $ 32,383.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,075.6 ​ $ 6,472.1 ​ $ 3,246.0 ​ $ 1,695.6 ​ $ 733.9 ​ $ 207.4 ​ $ 3,570.9 ​ $ 24,001.5 30-59 days past due ​ ​ 31.1 ​ ​ 42.1 ​ ​ 25.1 ​ ​ 14.9 ​ ​ 5.3 ​ ​ 2.7 ​ ​ 11.4 ​ ​ 132.6 60-89 days past due ​ ​ 11.7 ​ ​ 21.4 ​ ​ 10.0 ​ ​ 4.4 ​ ​ 2.6 ​ ​ 1.1 ​ ​ 3.4 ​ ​ 54.6 90+ days past due ​ ​ .1 ​ ​ .5 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.0 Non-performing ​ ​ 11.0 ​ ​ 45.8 ​ ​ 31.6 ​ ​ 28.3 ​ ​ 13.1 ​ ​ 14.4 ​ ​ 5.7 ​ ​ 149.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,765.6 ​ ​ 1,413.7 ​ ​ 715.0 ​ ​ 281.3 ​ ​ 63.2 ​ ​ 10.6 ​ ​ 91.5 ​ ​ 4,340.9 30-59 days past due ​ ​ 28.2 ​ ​ 38.0 ​ ​ 21.8 ​ ​ 8.0 ​ ​ 2.7 ​ ​ .7 ​ ​ 2.9 ​ ​ 102.3 60-89 days past due ​ ​ 11.3 ​ ​ 16.1 ​ ​ 8.6 ​ ​ 4.2 ​ ​ 1.3 ​ ​ .3 ​ ​ 1.1 ​ ​ 42.9 90+ days past due ​ ​ 3.2 ​ ​ ​ ​ ​ 4.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7.7 Non-performing ​ ​ 9.0 ​ ​ 44.1 ​ ​ 36.0 ​ ​ 17.7 ​ ​ 7.2 ​ ​ 3.8 ​ ​ .8 ​ ​ 118.6 Total Customer Receivables ​ $ 9,946.8 ​ $ 8,093.8 ​ $ 4,098.8 ​ $ 2,054.6 ​ $ 829.3 ​ $ 241.0 ​ $ 3,687.7 ​ $ 28,952.0
Wholesale Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of wholesale receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 286.0 ​ $ 96.3 ​ $ 32.7 ​ $ 5.9 ​ $ .8 ​ $ 1.6 ​ $ 6,347.8 ​ $ 6,771.1 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10.6 ​ ​ 10.6 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.6 ​ ​ 5.6 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 8.4 ​ ​ 31.5 ​ ​ 1.7 ​ ​ .7 ​ ​ .2 ​ ​ ​ ​ ​ 1,318.5 ​ ​ 1,361.0 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 ​ ​ 3.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 294.4 ​ $ 127.8 ​ $ 34.4 ​ $ 6.6 ​ $ 1.0 ​ $ 1.6 ​ $ 7,685.5 ​ $ 8,151.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ 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+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12.0 ​ ​ 12.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.7 ​ ​ 6.7 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 39.4 ​ ​ 4.0 ​ ​ 3.4 ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ 1,199.6 ​ ​ 1,246.7 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.4 ​ ​ 2.4 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 379.0 ​ $ 81.1 ​ $ 24.5 ​ $ 9.5 ​ $ 2.7 ​ $ .4 ​ $ 5,454.1 ​ $ 5,951.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 260.9 ​ $ 106.2 ​ $ 30.6 ​ $ 12.5 ​ $ 3.1 ​ $ .5 ​ $ 5,946.0 ​ $ 6,359.8 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16.7 ​ ​ 16.7 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4.3 ​ ​ 4.3 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 7.5 ​ ​ 5.1 ​ ​ 3.9 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ 1,332.0 ​ ​ 1,348.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.5 ​ ​ 1.5 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 268.4 ​ $ 111.3 ​ $ 34.5 ​ $ 12.9 ​ $ 3.1 ​ $ .5 ​ $ 7,300.5 ​ $ 7,731.2

Securitization of Receivables (

Securitization of Receivables (Tables)	9 Months Ended
	Jul. 31, 2022
Securitization of Receivables
Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions	The components of consolidated restricted assets, secured borrowings, and other liabilities related to secured borrowings in securitization transactions were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2021 Retail notes securitized ​ $ 5,154.1 ​ $ 4,662.4 ​ $ 5,408.2 ​ Allowance for credit losses ​ (14.7) ​ (13.5) ​ (19.9) ​ Other assets (primarily restricted cash) ​ 136.2 ​ 106.6 ​ 112.7 ​ Total restricted securitized assets ​ $ 5,275.6 ​ $ 4,755.5 ​ $ 5,501.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 4,918.5 ​ $ 4,595.2 ​ $ 5,264.6 ​ Accrued interest on borrowings ​ 3.4 ​ 1.7 ​ 2.1 ​ Total liabilities related to restricted securitized assets ​ $ 4,921.9 ​ $ 4,596.9 ​ $ 5,266.7 ​

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jul. 31, 2022
Leases
Schedule of Lease Revenues Earned	Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ July 31 ​ August 1 ​ July 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 Sales-type and direct financing lease revenues ​ $ 14.7 ​ $ 12.7 ​ $ 40.2 ​ $ 35.8 Operating lease revenues ​ ​ 217.9 ​ ​ 237.9 ​ ​ 659.8 ​ ​ 724.3 Variable lease revenues ​ 5.6 ​ 6.5 ​ 17.6 ​ 20.4 Total lease revenues ​ $ 238.2 ​ $ 257.1 ​ $ 717.6 ​ $ 780.5 ​ Variable lease revenues reported above primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees. Excess use and damage fees are reported in other income on the statements of consolidated income. Excess use and damage fees were $.5 million and $1.9 million for the third quarter and first nine months ended July 31, 2022, respectively, compared with $1.4 million and $5.0 million for the same periods last year, respectively.
Schedule of Cost of Equipment on Operating Leases by Market	The cost of equipment on operating leases by market was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ 2022 ​ 2021 ​ 2021 Agriculture and turf ​ $ 4,951.3 ​ $ 5,053.4 ​ $ 5,043.4 Construction and forestry ​ ​ 1,178.9 ​ 1,323.6 ​ 1,391.3 Total ​ ​ 6,130.2 ​ ​ 6,377.0 ​ ​ 6,434.7 Accumulated depreciation ​ (1,352.7) ​ ​ (1,429.4) ​ ​ (1,470.9) Equipment on operating leases - net ​ $ 4,777.5 ​ $ 4,947.6 ​ $ 4,963.8

Notes Receivable from and Pay_2

Notes Receivable from and Payable to John Deere (Tables)	9 Months Ended
	Jul. 31, 2022
Notes Receivable from and Payable to John Deere
Notes Receivable from John Deere	The Company had notes receivable from John Deere with the following affiliated companies as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ ​ ​ 2022 ​ 2021 ​ 2021 ​ Limited Liability Company John Deere Financial ​ ​ ​ ​ $ 233.7 ​ $ 198.6 ​ Banco John Deere S.A. ​ $ 270.4 ​ 159.8 ​ 167.4 ​ John Deere Agricultural Holdings, Inc. ​ 8.8 ​ ​ ​ ​ ​ ​ ​ Total Notes Receivable from John Deere ​ $ 279.2 ​ $ 393.5 ​ $ 366.0 ​

Long-Term External Borrowings (

Long-Term External Borrowings (Tables)	9 Months Ended
	Jul. 31, 2022
Long-Term External Borrowings
Long-Term Borrowings	Long-term external borrowings of the Company at July 31, 2022, October 31, 2021, and August 1, 2021 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 ​ October 31 ​ August 1 ​ 2022 ​ 2021 ​ 2021 Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes $ 20,450.3 ​ $ 20,649.2 ​ $ 20,174.1 Other notes ​ ​ 2.9 ​ ​ 15.6 ​ ​ 19.8 Total senior debt ​ ​ 20,453.2 ​ ​ 20,664.8 ​ ​ 20,193.9 Unamortized debt discount and debt issuance costs ​ ​ (59.6) ​ ​ (57.5) ​ ​ (57.2) Total ​ $ 20,393.6 ​ $ 20,607.3 ​ $ 20,136.7 ​ Medium-term notes are primarily offered by prospectus and issued at fixed and variable rates. The medium-term notes in the table above include unamortized fair value adjustments related to interest rate swaps. The principal balances of the medium-term notes were $20,796.7 million, $20,378.2 million, and $19,722.5 million at July 31, 2022, October 31, 2021, and August 1, 2021, respectively, and have serial maturity dates from 2023 through 2032. All outstanding medium-term notes and other notes in the table above are senior unsecured borrowings and generally rank equally with each other.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jul. 31, 2022
Fair Value Measurements
Fair Value of Financial Instruments	The fair values of financial instruments that do not approximate the carrying values were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ October 31, 2021 ​ August 1, 2021 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 35,268.2 ​ $ 34,617.9 ​ $ 31,891.7 ​ $ 31,903.6 ​ $ 31,155.9 ​ $ 31,264.6 ​ Retail notes securitized – net ​ 5,139.4 ​ 4,988.8 ​ 4,648.9 ​ 4,694.2 ​ 5,388.3 ​ 5,454.3 ​ Securitization borrowings ​ 4,918.5 ​ 4,861.4 ​ 4,595.2 ​ 4,600.0 ​ 5,264.6 ​ 5,289.3 ​ Current maturities of long-term external borrowings ​ 6,476.7 ​ 6,426.0 ​ 5,819.1 ​ 5,842.3 ​ 5,746.0 ​ 5,800.4 ​ Long-term external borrowings ​ 20,393.6 ​ 20,087.6 ​ 20,607.3 ​ 20,887.5 ​ 20,136.7 ​ 20,557.9 ​ ​ Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings.
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 October 31 August 1 ​ ​ 2022 ​ 2021 ​ 2021 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.3 ​ $ 2.1 ​ $ 2.1 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 168.3 ​ ​ 191.6 ​ ​ 333.7 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 1.8 ​ 1.1 ​ .5 ​ Total assets ​ $ 171.4 ​ $ 194.8 ​ $ 336.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 446.6 ​ $ 97.6 ​ $ 45.7 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 22.1 ​ 4.8 ​ 1.7 ​ Total liabilities ​ $ 468.7 ​ $ 102.4 ​ $ 47.4 ​ All fair value measurements in the table above were Level 2. Excluded from the table above were 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.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Jul. 31, 2022
Derivative Instruments
Amounts Recorded in the Consolidated Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships	The amounts recorded in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows (in millions of dollars). Fair value hedging adjustments are included in the carrying amount of the hedged item. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Hedging Relationships ​ Discontinued Hedging Relationship ​ ​ ​ Carrying ​ Cumulative ​ Carrying Amount ​ Cumulative ​ ​ ​ Amount of ​ Fair Value ​ of Formerly ​ Fair Value ​ July 31, 2022 ​ Hedged Item ​ Hedging Adjustment ​ Hedged Item ​ Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 2,604.6 ​ $ 5.0 ​ Long-term external borrowings ​ $ 7,178.1 ​ $ (385.9) ​ ​ 5,728.0 ​ ​ 39.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 191.2 ​ $ 2.7 ​ $ 1,997.4 ​ $ (1.7) ​ Long-term external borrowings ​ ​ 7,139.0 ​ ​ 48.3 ​ ​ 6,287.3 ​ ​ 222.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 188.7 ​ $ 4.0 ​ $ 1,898.4 ​ $ (.9) ​ Long-term external borrowings ​ ​ 7,975.1 ​ ​ 261.3 ​ ​ 5,830.9 ​ ​ 190.3 ​
Fair Value of Derivative Instruments in Consolidated Balance Sheet	Fair values of derivative instruments in the consolidated balance sheets were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31 October 31 August 1 ​ ​ 2022 ​ 2021 ​ 2021 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 81.8 ​ $ 162.8 ​ $ 321.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 82.5 ​ 23.4 ​ 10.7 ​ Cross-currency interest rate contracts ​ 4.0 ​ 5.4 ​ 2.0 ​ Total not designated ​ 86.5 ​ 28.8 ​ 12.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.8 ​ 1.1 ​ .5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 170.1 ​ $ 192.7 ​ $ 334.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 391.0 ​ $ 79.0 ​ $ 32.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 54.5 ​ 17.1 ​ 11.1 ​ Cross-currency interest rate contracts ​ ​ 1.1 ​ ​ 1.5 ​ 2.3 ​ Total not designated ​ 55.6 ​ 18.6 ​ 13.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 22.1 ​ 4.8 ​ 1.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 468.7 ​ $ 102.4 ​ $ 47.4 ​ ​
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 statements of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ July 31 ​ August 1 ​ July 31 ​ August 1 ​ 2022 2021 2022 2021 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ 145.5 ​ $ 139.9 ​ $ (483.5) ​ $ (70.7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) .8 ​ (.9) ​ 51.4 ​ (.8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense 3.6 ​ (1.6) ​ 2.7 ​ (8.2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ (3.8) ​ $ (2.9) ​ $ 39.3 ​ $ (4.5) ​ Foreign currency exchange contracts - Administrative and operating expenses * 18.5 ​ (4.5) ​ 83.0 ​ (20.0) ​ Total not designated ​ $ 14.7 ​ $ (7.4) ​ $ 122.3 ​ $ (24.5) ​ * 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 any collateral received or paid were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 1.8 ​ $ (.4) ​ ​ ​ ​ $ 1.4 ​ John Deere ​ 168.3 ​ ​ (105.3) ​ ​ ​ ​ 63.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 22.1 ​ (.4) ​ ​ ​ ​ 21.7 ​ John Deere ​ 446.6 ​ (105.3) ​ ​ ​ 341.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net 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) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ .5 ​ $ (.1) ​ ​ ​ ​ $ .4 ​ John Deere ​ 333.7 ​ ​ (43.1) ​ ​ ​ ​ 290.6 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 1.7 ​ (.1) ​ ​ ​ ​ 1.6 ​ John Deere ​ 45.7 ​ (43.1) ​ ​ ​ 2.6 ​

Organization and Consolidatio_2

Organization and Consolidation (Details)	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Fiscal Year
Fiscal period duration	91 days	91 days	273 days	273 days

Other Comprehensive Income It_3

Other Comprehensive Income Items - After-Tax Components (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 4,684.3	$ 4,524.4	$ 4,598.4
Accumulated Other Comprehensive Income (Loss)
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(100.2)	(49.4)	(49.4)
Cumulative Translation Adjustment
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(143.2)	(54.5)	(46.9)
Unrealized Gain (Loss) on Derivatives
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	45.3	6.8	(0.8)
Unrealized Gain (Loss) on Debt Securities
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (2.3)	$ (1.7)	$ (1.7)

Other Comprehensive Income It_4

Other Comprehensive Income Items - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Other comprehensive income (loss), before tax
Interest expense	$ (137.4)	$ (114.1)	$ (292.6)	$ (373.1)
Total other comprehensive income (loss), before tax	(21.2)	(16)	(40.9)	29.8
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	0.7	(0.3)	(9.9)	(1.4)
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	(20.5)	(16.3)	(50.8)	28.4
Cumulative Translation Adjustment
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	(18.1)	(16.7)	(88.7)	22.6
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	(18.1)	(16.7)	(88.7)	22.6
Unrealized Gain (Loss) on Derivatives
Other comprehensive income (loss), before tax
Other comprehensive income (loss) before reclassification, before tax	0.8	(0.9)	51.4	(0.8)
Total other comprehensive income (loss), before tax	(2.8)	0.7	48.7	7.4
Other comprehensive income (loss), tax (expense) credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(0.2)	0.2	(10.8)	0.2
Total other comprehensive income (loss), tax (expense) credit	0.6	(0.1)	(10.2)	(1.5)
Other comprehensive income (loss), after tax
Other comprehensive income (loss) before reclassification, after tax	0.6	(0.7)	40.6	(0.6)
Other comprehensive income (loss), net of income taxes	(2.2)	0.6	38.5	5.9
Unrealized Gain (Loss) on Derivatives | Interest Rate Contracts (Swaps) | Reclassifications of gains (losses) out of accumulated other comprehensive income
Other comprehensive income (loss), before tax
Interest expense	(3.6)	1.6	(2.7)	8.2
Other comprehensive income (loss), tax (expense) credit
Reclassification of realized (gain) loss, tax expense (credit)	0.8	(0.3)	0.6	(1.7)
Other comprehensive income (loss), after tax
Reclassification of realized (gain) loss, after tax	(2.8)	1.3	(2.1)	6.5
Unrealized Gain (Loss) on Debt Securities
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	(0.3)		(0.9)	(0.2)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	0.1	(0.2)	0.3	0.1
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	$ (0.2)	$ (0.2)	$ (0.6)	$ (0.1)

Receivables - Financing Receiva

Receivables - Financing Receivables Past Due (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jul. 31, 2022 USD ($)	Jul. 31, 2022 USD ($)
Receivable, Past Due
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false]	false	false
Minimum number of days for a receivable to be considered past due	30 days	30 days
Non-performing
Receivable, Past Due
Accrued finance income and lease revenue reversed on non-performing Receivables	$ 2	$ 8.8
Finance income and lease revenue recognized from cash payments on non-performing receivables	$ 4.8	$ 11.8
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	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	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	60 days
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	120 days

Receivables - Customer Receivab

Receivables - Customer Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Allowance for Credit Losses and Credit Quality of Receivables
Total Receivables	$ 40,534.9	$ 36,669.6	$ 36,683.2
Customer Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	10,127.9	13,813.7	9,946.8
2021 and 2020, respectively	9,959.9	7,119.3	8,093.8
2020 and 2019, respectively	4,945.9	3,536	4,098.8
2019 and 2018, respectively	2,192.2	1,711.4	2,054.6
2018 and 2017, respectively	858.5	653.2	829.3
Prior years	295.3	144.6	241
Revolving	4,003.9	3,740.1	3,687.7
Total Receivables	32,383.6	30,718.3	28,952
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	34.5	34.7	31.1
2021 and 2020, respectively	55.4	47.5	42.1
2020 and 2019, respectively	28.9	24.2	25.1
2019 and 2018, respectively	16.9	13.7	14.9
2018 and 2017, respectively	6.9	5.9	5.3
Prior years	2.9	2.9	2.7
Revolving	17	13.1	11.4
Total Receivables	162.5	142	132.6
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	14	12.8	11.7
2021 and 2020, respectively	18	17.4	21.4
2020 and 2019, respectively	10.9	8.4	10
2019 and 2018, respectively	5.1	5.1	4.4
2018 and 2017, respectively	2	2.4	2.6
Prior years	0.9	0.7	1.1
Revolving	4.2	3.2	3.4
Total Receivables	55.1	50	54.6
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively		0.5	0.1
2021 and 2020, respectively	0.2	0.5	0.5
2020 and 2019, respectively	0.2	0.1	0.2
2019 and 2018, respectively		0.2	0.2
2018 and 2017, respectively	0.1	0.1
Total Receivables	0.5	1.4	1
Customer Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	8,134.7	11,318.1	8,075.6
2021 and 2020, respectively	8,017.6	5,719.1	6,472.1
2020 and 2019, respectively	4,027.6	2,842.5	3,246
2019 and 2018, respectively	1,819.9	1,431	1,695.6
2018 and 2017, respectively	742.6	582.8	733.9
Prior years	256.9	119.9	207.4
Revolving	3,868.8	3,620.9	3,570.9
Total Receivables	26,868.1	25,634.3	24,001.5
Customer Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	16	20.1	11
2021 and 2020, respectively	40.3	44.5	45.8
2020 and 2019, respectively	29.6	26.4	31.6
2019 and 2018, respectively	16.6	22.3	28.3
2018 and 2017, respectively	12.8	10.6	13.1
Prior years	12.2	12.5	14.4
Revolving	6.6	6.4	5.7
Total Receivables	134.1	142.8	149.9
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	40	36.6	28.2
2021 and 2020, respectively	45.5	33	38
2020 and 2019, respectively	22.1	21.1	21.8
2019 and 2018, respectively	11.3	5.8	8
2018 and 2017, respectively	3.4	2	2.7
Prior years	1.1	0.1	0.7
Revolving	2.6	2.7	2.9
Total Receivables	126	101.3	102.3
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	11.9	12.5	11.3
2021 and 2020, respectively	13	8.4	16.1
2020 and 2019, respectively	11.1	5	8.6
2019 and 2018, respectively	4.1	2.6	4.2
2018 and 2017, respectively	1	0.5	1.3
Prior years	0.3	0.2	0.3
Revolving	0.7	1	1.1
Total Receivables	42.1	30.2	42.9
Customer Receivables | Construction and forestry | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively		0.1	3.2
2021 and 2020, respectively	7.3	0.4
2020 and 2019, respectively	2.1	0.9	4.5
2019 and 2018, respectively	0.4
2018 and 2017, respectively		0.1
Total Receivables	9.8	1.5	7.7
Customer Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	1,868.7	2,356.4	1,765.6
2021 and 2020, respectively	1,712	1,198.5	1,413.7
2020 and 2019, respectively	772.5	573.5	715
2019 and 2018, respectively	297.7	215.6	281.3
2018 and 2017, respectively	82.4	42.5	63.2
Prior years	17.2	5.4	10.6
Revolving	103.2	92.3	91.5
Total Receivables	4,853.7	4,484.2	4,340.9
Customer Receivables | Construction and forestry | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	8.1	21.9	9
2021 and 2020, respectively	50.6	50	44.1
2020 and 2019, respectively	40.9	33.9	36
2019 and 2018, respectively	20.2	15.1	17.7
2018 and 2017, respectively	7.3	6.3	7.2
Prior years	3.8	2.9	3.8
Revolving	0.8	0.5	0.8
Total Receivables	$ 131.7	$ 130.6	$ 118.6

Receivables - Wholesale Receiva

Receivables - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Allowance for Credit Losses and Credit Quality of Receivables
Total Receivables	$ 40,534.9	$ 36,669.6	$ 36,683.2
Wholesale Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	294.4	379	268.4
2021 and 2020, respectively	127.8	81.1	111.3
2020 and 2019, respectively	34.4	24.5	34.5
2019 and 2018, respectively	6.6	9.5	12.9
2018 and 2017, respectively	1	2.7	3.1
Prior years	1.6	0.4	0.5
Revolving	7,685.5	5,454.1	7,300.5
Total Receivables	8,151.3	5,951.3	7,731.2
Wholesale Receivables | Agriculture and turf | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	10.6	12	16.7
Total Receivables	10.6	12	16.7
Wholesale Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	286	339.6	260.9
2021 and 2020, respectively	96.3	77.1	106.2
2020 and 2019, respectively	32.7	21.1	30.6
2019 and 2018, respectively	5.9	9.2	12.5
2018 and 2017, respectively	0.8	2.7	3.1
Prior years	1.6	0.4	0.5
Revolving	6,347.8	4,233.4	5,946
Total Receivables	6,771.1	4,683.5	6,359.8
Wholesale Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	5.6	6.7	4.3
Total Receivables	5.6	6.7	4.3
Wholesale Receivables | Construction and forestry | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	3	2.4	1.5
Total Receivables	3	2.4	1.5
Wholesale Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively	8.4	39.4	7.5
2021 and 2020, respectively	31.5	4	5.1
2020 and 2019, respectively	1.7	3.4	3.9
2019 and 2018, respectively	0.7	0.3	0.4
2018 and 2017, respectively	0.2
Revolving	1,318.5	1,199.6	1,332
Total Receivables	$ 1,361	$ 1,246.7	$ 1,348.9

Receivables - Allowance for Cre

Receivables - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021	Oct. 31, 2021
Receivable, Allowance for Credit Losses
Recoveries from freestanding credit enhancements	$ 2.4	$ 3.2	$ 5.4	$ 9.8
Allowance:
Beginning of period balance	124.5	129.8	129	129.1
Provision (credit) for credit losses	8.4	15.7	20.6	(2.6)
Write-offs	(16.6)	(17.1)	(54.1)	(42.7)
Recoveries	11.4	10.8	32.9	34.7
Translation adjustments	(0.4)	(0.2)	(1.1)	0.8
End of period balance	127.3	139	127.3	139
Receivables:
End of period balance	40,534.9	36,683.2	40,534.9	36,683.2	$ 36,669.6
Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance				19.7
Unfunded Commitments
Allowance:
Provision (credit) for credit losses	0.8	0	0.6	2.1
Customer Receivables
Receivables:
End of period balance	32,383.6	28,952	32,383.6	28,952	30,718.3
Retail Notes and Financing Leases
Allowance:
Beginning of period balance	95.9	101.3	96.5	76.9
Provision (credit) for credit losses	5.2	13.6	24	11.2
Write-offs	(6.1)	(8.5)	(31.9)	(19.7)
Recoveries	4.1	3.2	10.7	8.1
Translation adjustments	(0.3)	(0.2)	(0.5)	0.4
End of period balance	98.8	109.4	98.8	109.4
Receivables:
End of period balance	28,379.7	25,264.3	28,379.7	25,264.3
Retail Notes and Financing Leases | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance				32.5
Revolving charge accounts
Allowance:
Beginning of period balance	17.4	18.9	20.8	42.3
Provision (credit) for credit losses	3.2	(0.1)	(3.7)	(15.9)
Write-offs	(10.5)	(8.4)	(22)	(22.7)
Recoveries	7.3	7.6	22.2	26.6
Translation adjustments	(0.1)	0.1
End of period balance	17.3	18.1	17.3	18.1
Receivables:
End of period balance	4,003.9	3,687.7	4,003.9	3,687.7	3,740.1
Revolving charge accounts | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance				(12.2)
Wholesale Receivables
Allowance:
Beginning of period balance	11.2	9.6	11.7	9.9
Provision (credit) for credit losses		2.2	0.3	2.1
Write-offs		(0.2)	(0.2)	(0.3)
Translation adjustments		(0.1)	(0.6)	0.4
End of period balance	11.2	11.5	11.2	11.5
Receivables:
End of period balance	$ 8,151.3	$ 7,731.2	$ 8,151.3	7,731.2	$ 5,951.3
Wholesale Receivables | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance				$ (0.6)

Receivables - Troubled Debt Res

Receivables - Troubled Debt Restructurings (Details) $ in Millions	9 Months Ended
	Jul. 31, 2022 USD ($) item	Aug. 01, 2021 USD ($) item
Receivables Related to Troubled Debt Restructurings
Receivable contracts in troubled debt restructuring, number | item	175	287
Receivables in troubled debt restructurings, aggregate balances, pre-modification	$ 6.5	$ 10.3
Receivables in troubled debt restructurings, aggregate balances, post-modification	5.3	9.4
Receivable contracts in troubled debt restructuring, subsequently defaulted	0	$ 0
Commitments to lend additional funds to borrowers whose accounts were modified in troubled debt restructurings	$ 0

Securitization of Receivables_2

Securitization of Receivables (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Securitization of Receivables
Total receivables	$ 40,534.9	$ 36,669.6	$ 36,683.2
Other assets	315.7	324.5	367.2
Total Assets	46,751.9	43,216.6	43,412.8
Securitization borrowings	4,918.5	4,595.2	5,264.6
Accrued interest on borrowings - securitization transactions	3.4	1.7	2.1
Total liabilities related to restricted securitized assets	4,921.9	4,596.9	5,266.7
Securitized
Securitization of Receivables
Other assets	136.2	106.6	112.7
Total Assets	5,275.6	4,755.5	5,501
Retail notes | Securitized
Securitization of Receivables
Total receivables	$ 5,154.1	$ 4,662.4	$ 5,408.2
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Allowance for credit losses	$ (14.7)	$ (13.5)	$ (19.9)

Leases - Lease Revenues (Detail

Leases - Lease Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Lessor
Sales-type and direct finance lease revenues	$ 14.7	$ 12.7	$ 40.2	$ 35.8
Operating lease revenues	217.9	237.9	659.8	724.3
Variable lease revenues	5.6	6.5	17.6	20.4
Total lease revenues	238.2	257.1	717.6	780.5
Excess use and damage fees	$ 0.5	$ 1.4	$ 1.9	$ 5

Leases - Cost of Equipment on O

Leases - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 6,130.2	$ 6,377	$ 6,434.7
Accumulated depreciation	(1,352.7)	(1,429.4)	(1,470.9)
Equipment on operating leases - net	4,777.5	4,947.6	4,963.8
Operating lease residual value	3,352.8	3,547.6	3,598.9
Operating lease residual value guarantees	464.9	295.8	247.3
Matured operating lease inventory	16.6	25.4	46.9
Agriculture and turf equipment
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	4,951.3	5,053.4	5,043.4
Construction and forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 1,178.9	$ 1,323.6	$ 1,391.3

Notes Receivable from and Pay_3

Notes Receivable from and Payable to John Deere (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021	Oct. 31, 2021
Notes Receivable from and Payable to John Deere
Notes payable to John Deere	$ 4,499.8	$ 5,859.2	$ 4,499.8	$ 5,859.2	$ 5,619.4
John Deere
Notes Receivable from and Payable to John Deere
Maximum remaining term for related party notes receivable			7 years
Interest earned	2.5	3.8	$ 12.7	10.3
Notes receivable from John Deere	279.2	366	279.2	366	393.5
Notes payable to John Deere	4,499.8	5,859.2	4,499.8	5,859.2	5,619.4
Long-term intercompany loans	509.9		509.9
Interest expense	23.7	14.9	57.6	36.3
Limited Liability Company John Deere Financial
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere		198.6		198.6	233.7
Banco John Deere S.A.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	270.4	$ 167.4	270.4	$ 167.4	$ 159.8
John Deere Agricultural Holdings, Inc.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	$ 8.8		$ 8.8

Long-Term External Borrowings_2

Long-Term External Borrowings (Details) - USD ($) $ in Millions	Apr. 12, 2022	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Long-Term Borrowings
Total senior debt		$ 20,453.2	$ 20,664.8	$ 20,193.9
Unamortized debt discount and debt issuance costs		(59.6)	(57.5)	(57.2)
Total		20,393.6	20,607.3	20,136.7
Medium-term notes
Long-Term Borrowings
Total senior debt		20,450.3	20,649.2	20,174.1
Principal amount		20,796.7	20,378.2	19,722.5
Other notes
Long-Term Borrowings
Total senior debt		$ 2.9	$ 15.6	$ 19.8
3.35% Sustainability-Linked Medium Term Notes Due 2029
Long-Term Borrowings
Medium-term notes	$ 600
Debt instrument, stated interest rate (as a percent)	3.35%
3.35% Sustainability-Linked Medium Term Notes Due 2029 | Stated Sustainability Performance Target
Long-Term Borrowings
Interest rate increase (as a percent)	0.25%

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) $ in Millions	9 Months Ended
	Jul. 31, 2022 USD ($)
John Deere Financial Inc. | Guarantees of debt and derivatives | Medium-term notes.
Guarantee Obligations
Guarantee obligations maximum exposure	$ 2,186.5
Weighted average interest rate (as a percent)	2%
Maximum remaining maturity	7 years
John Deere Financial Inc. | Guarantees of debt and derivatives | Derivative Instruments
Guarantee Obligations
Guarantee obligations maximum exposure	$ 101.9
Notional amount	2,772.1
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	$ 624.7
Weighted average interest rate (as a percent)	2.80%
Maximum remaining maturity	1 year

Commitments and Contingencies_2

Commitments and Contingencies - Commitments (Details) $ in Millions	Jul. 31, 2022 USD ($)
Unfunded Commitments
Commitments
Reserve for estimated credit losses	$ 3.5
Wholesale Receivables
Commitments
Unused commitments	8,600
Customer Receivables
Commitments
Unused commitments	$ 31,700
Minimum percentage of unused commitments to extend credit to customers that relate to revolving charge accounts	95%

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Fair Values of Financial Instruments
Receivables financed - net	$ 40,407.6	$ 36,540.6	$ 36,544.2
Securitization borrowings	4,918.5	4,595.2	5,264.6
Current maturities of long-term external borrowings	6,476.7	5,819.1	5,746
Long-term external borrowings	20,393.6	20,607.3	20,136.7
Level 3 | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	34,617.9	31,903.6	31,264.6
Level 3 | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 4,988.8	$ 4,694.2	$ 5,454.3
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Level 2
Fair Values of Financial Instruments
Securitization borrowings	$ 4,861.4	$ 4,600	$ 5,289.3
Current maturities of long-term external borrowings	6,426	5,842.3	5,800.4
Long-term external borrowings	20,087.6	20,887.5	20,557.9
Carrying Value
Fair Values of Financial Instruments
Securitization borrowings	4,918.5	4,595.2	5,264.6
Current maturities of long-term external borrowings	6,476.7	5,819.1	5,746
Long-term external borrowings	20,393.6	20,607.3	20,136.7
Carrying Value | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	35,268.2	31,891.7	31,155.9
Carrying Value | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 5,139.4	$ 4,648.9	$ 5,388.3
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities - Recurring (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 1.3	$ 2.1	$ 2.1
Derivative assets	170.1	192.7	334.2
Derivative liabilities	468.7	102.4	47.4
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	171.4	194.8	336.3
Total liabilities	468.7	102.4	47.4
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Receivables from John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	168.3	191.6	333.7
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Other Assets
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	1.8	1.1	0.5
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Other payables to John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	446.6	97.6	45.7
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Accounts payable and accrued expenses
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	22.1	4.8	1.7
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	$ 1.3	$ 2.1	$ 2.1

Fair Value Measurements - Contr

Fair Value Measurements - Contractual Maturities of Debt Securities (Details) $ in Millions	Jul. 31, 2022 USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost basis	$ 4.9
Contractual Maturities of Debt Securities, Fair Value
Fair value	$ 1.3

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges (Details) - USD ($) $ in Millions	9 Months Ended
	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Cash Flow Hedges
Cash flow hedge gain (loss) recorded in OCI to be reclassified within twelve months	$ 34.3
Gains or losses reclassified from OCI to earnings	0
Interest Rate Contracts (Swaps) | Cash flow hedges | Designated as Hedging Instruments
Cash Flow Hedges
Notional amounts	$ 2,350	$ 2,700	$ 1,750

Derivative Instruments - Fair V

Derivative Instruments - Fair Value Hedges (Details) - Interest Rate Contracts (Swaps) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Fair Value Hedges | Designated as Hedging Instruments
Fair Value Hedges
Notional amounts	$ 7,600	$ 7,313.6	$ 7,934.9
Current Maturities of Long-term External Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item		191.2	188.7
Cumulative Fair Value Hedging Adjustment		2.7	4
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	2,604.6	1,997.4	1,898.4
Cumulative Fair Value Hedging Adjustment - Discontinued	5	(1.7)	(0.9)
Long-term External Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item	7,178.1	7,139	7,975.1
Cumulative Fair Value Hedging Adjustment	(385.9)	48.3	261.3
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	5,728	6,287.3	5,830.9
Cumulative Fair Value Hedging Adjustment - Discontinued	$ 39.5	$ 222.7	$ 190.3

Derivative Instruments - Not De

Derivative Instruments - Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Interest Rate Contracts (Swaps)
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 3,313.2	$ 2,970.4	$ 2,921.4
Interest rate caps | Sold
Derivatives Not Designated as Hedging Instruments
Notional amounts	1,144.8	1,645.4	1,807.6
Interest rate caps | Purchased
Derivatives Not Designated as Hedging Instruments
Notional amounts	1,144.8	1,645.4	1,807.6
Foreign currency exchange contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	930	96.7	98
Cross-currency interest rate contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 125.7	$ 237.5	$ 197.4

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Fair Value of Derivative Instruments
Total derivative assets	$ 170.1	$ 192.7	$ 334.2
Total derivative liabilities	468.7	102.4	47.4
Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	81.8	162.8	321
Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	391	79	32.3
Not Designated as Hedging Instruments | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	86.5	28.8	12.7
Not Designated as Hedging Instruments | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	55.6	18.6	13.4
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	82.5	23.4	10.7
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	54.5	17.1	11.1
Not Designated as Hedging Instruments | Foreign currency exchange contracts | Other Assets
Fair Value of Derivative Instruments
Total derivative assets	1.8	1.1	0.5
Not Designated as Hedging Instruments | Foreign currency exchange contracts | Accounts payable and accrued expenses
Fair Value of Derivative Instruments
Total derivative liabilities	22.1	4.8	1.7
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	4	5.4	2
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	$ 1.1	$ 1.5	$ 2.3

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2022	Aug. 01, 2021
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 14.7	$ (7.4)	$ 122.3	$ (24.5)
John Deere
Classification and gains (losses) including accrued interest expense related to derivative instruments
Gain (loss) on derivative transactions with affiliate party	$ 145.2	$ 133.3	$ (432.3)	$ (91.6)
Location of gain (loss) on derivative transactions with affiliate party	Interest expense, Administrative and operating expenses	Interest expense, Administrative and operating expenses	Interest expense, Administrative and operating expenses	Interest expense, Administrative and operating expenses
Interest Rate Contracts (Swaps)
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	$ 0.8	$ (0.9)	$ 51.4	$ (0.8)
Interest Rate Contracts (Swaps) | Interest expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	145.5	139.9	(483.5)	(70.7)
Cash flow hedges, reclassified from OCI	3.6	(1.6)	2.7	(8.2)
Not designated as hedges, gains (losses)	(3.8)	(2.9)	39.3	(4.5)
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)	$ 18.5	$ (4.5)	$ 83	$ (20)

Derivative Instruments - Counte

Derivative Instruments - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Jul. 31, 2022	Oct. 31, 2021	Aug. 01, 2021
Derivative assets
Gross Amounts Recognized	$ 170.1	$ 192.7	$ 334.2
Derivative liabilities
Gross Amounts Recognized	468.7	102.4	47.4
John Deere
Derivative assets
Gross Amounts Recognized	168.3	191.6	333.7
Netting Arrangements	(105.3)	(97.6)	(43.1)
Net Amount	63	94	290.6
Derivative liabilities
Gross Amounts Recognized	446.6	97.6	45.7
Netting Arrangements	(105.3)	(97.6)	(43.1)
Net Amount	341.3		2.6
External
Derivative assets
Gross Amounts Recognized	1.8	1.1	0.5
Netting Arrangements	(0.4)	(0.3)	(0.1)
Net Amount	1.4	0.8	0.4
Derivative liabilities
Gross Amounts Recognized	22.1	4.8	1.7
Netting Arrangements	(0.4)	(0.3)	(0.1)
Net Amount	21.7	4.5	1.6
Derivative Instruments | John Deere
Counterparty Risk and Collateral
Increase in maximum loss if derivative counterparties fail to meet obligations - loss sharing agreement	$ 0	$ 0	$ 0