Deere John Capital (DE22B) 10-Q 1 Jun 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Apr. 30, 2023	Jun. 01, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Apr. 30, 2023
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	--10-29
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000027673
Amendment Flag	false

Statements of Consolidated Inco

Statements of Consolidated Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Revenues
Finance income earned on retail notes	$ 352.1	$ 251.9	$ 682.1	$ 500.8
Lease revenues	240.6	238	483.1	481.1
Revolving charge account income	91.9	65.9	174.8	132.4
Finance income earned on wholesale receivables	204	71	355.5	130.9
Other income	40.7	35.2	70.3	70.2
Total revenues	929.3	662	1,765.8	1,315.4
Expenses
Interest expense	375.3	55.7	676.3	155.2
Operating expenses:
Depreciation of equipment on operating leases	161.1	165.8	325.6	334.6
Administrative and operating expenses	140	128.2	276.7	244.6
Fees and interest paid to John Deere	58.1	99.6	115.7	139.3
Provision for credit losses	26.7	13.2	30.2	12
Total operating expenses	385.9	406.8	748.2	730.5
Total expenses	761.2	462.5	1,424.5	885.7
Income of consolidated group before income taxes	168.1	199.5	341.3	429.7
Provision for income taxes	39	43.9	75.8	93.8
Income of consolidated group	129.1	155.6	265.5	335.9
Equity in income of unconsolidated affiliate	0.8	1.1	1.8	3
Net income	129.9	156.7	267.3	338.9
Less: Net loss attributable to noncontrolling interests	(0.1)	(0.1)	(0.3)	(0.1)
Net income attributable to the Company	$ 130	$ 156.8	$ 267.6	$ 339

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Statements of Consolidated Comprehensive Income
Net income	$ 129.9	$ 156.7	$ 267.3	$ 338.9
Other comprehensive income (loss), net of income taxes
Cumulative translation adjustment	(1)	(34.2)	65.2	(70.6)
Unrealized gain (loss) on derivatives	(18.7)	27.7	(33)	40.7
Unrealized loss on debt securities	(0.4)	(0.2)		(0.4)
Other comprehensive income (loss), net of income taxes	(20.1)	(6.7)	32.2	(30.3)
Comprehensive income of consolidated group	109.8	150	299.5	308.6
Less: Comprehensive loss attributable to noncontrolling interests	(0.1)	(0.1)	(0.3)	(0.1)
Comprehensive income attributable to the Company	$ 109.9	$ 150.1	$ 299.8	$ 308.7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Assets
Cash and cash equivalents	$ 1,493.8	$ 661.8	$ 632.1
Marketable securities	1.2	1.1	1.6
Receivables:
Total receivables	47,083.5	42,441.6	37,911.2
Allowance for credit losses	(133.7)	(128.4)	(124.5)
Total receivables - net	46,949.8	42,313.2	37,786.7
Other receivables	121.5	91.4	81.2
Receivables from John Deere	188.5	214.8	149
Equipment on operating leases - net	4,724.2	4,853.5	4,708.7
Notes receivable from John Deere	545.6	370.7	211.5
Investment in unconsolidated affiliate	26.9	22.6	22.4
Deferred income taxes	25.9	25.5	31.5
Other assets	335	314.3	342.8
Total Assets	54,412.4	48,868.9	43,967.5
Short-term external borrowings:
Commercial paper and other notes payable	6,376.7	2,402.3	1,731.5
Securitization borrowings	5,379.2	5,710.9	4,000.9
Current maturities of long-term external borrowings	5,186.3	5,989.6	6,153.7
Total short-term external borrowings	16,942.2	14,102.8	11,886.1
Notes payable to John Deere	4,810.4	5,225.5	5,276.4
Other payables to John Deere	610.2	1,024.2	599.4
Accounts payable and accrued expenses	1,041.1	957.3	920.1
Deposits held from dealers and merchants	131.7	137.3	126.9
Deferred income taxes	175	208.5	216.2
Long-term external borrowings	24,906.8	22,527.8	20,391.3
Total liabilities	48,617.4	44,183.4	39,416.4
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.)	2,292.8	1,482.8	1,482.8
Retained earnings	3,573.5	3,305.9	3,146.3
Accumulated other comprehensive loss	(72.5)	(104.7)	(79.7)
Total Company stockholder's equity	5,793.8	4,684	4,549.4
Noncontrolling interests	1.2	1.5	1.7
Total stockholder's equity	5,795	4,685.5	4,551.1
Total Liabilities and Stockholder's Equity	54,412.4	48,868.9	43,967.5
Securitized
Receivables:
Other assets	115.3	155.2	124
Retail notes | Unrestricted
Receivables:
Total receivables	23,713.5	22,799	22,164.1
Retail notes | Securitized
Receivables:
Total receivables	$ 5,674	$ 5,951.6	$ 4,079.2
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Revolving charge accounts
Receivables:
Total receivables	$ 3,699.4	$ 4,165.8	$ 3,425
Allowance for credit losses	(19.3)	(21.9)	(17.4)
Wholesale Receivables
Receivables:
Total receivables	12,880.4	8,404.5	7,346.4
Allowance for credit losses	(11.2)	(11.1)	(11.2)
Financing Leases
Receivables:
Total receivables	$ 1,116.2	$ 1,120.7	$ 896.5

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
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	6 Months Ended
	Apr. 30, 2023	May 01, 2022
Cash Flows from Operating Activities:
Net income	$ 267.3	$ 338.9
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	30.2	12
Provision for depreciation and amortization	336.4	347.2
Credit for deferred income taxes	(25)	(28.5)
Change in accounts payable and accrued expenses	69.8	(37.2)
Change in accrued income taxes payable/receivable	7.9
Other	(29.9)	(91.3)
Net cash provided by operating activities	656.7	541.1
Cash Flows from Investing Activities:
Cost of receivables acquired (excluding wholesale)	(12,155.6)	(11,109)
Collections of receivables (excluding wholesale)	11,957.6	10,839.7
Increase in wholesale receivables - net	(4,277.7)	(1,577.9)
Cost of equipment on operating leases acquired	(956.8)	(831.4)
Proceeds from sales of equipment on operating leases	771.2	775.8
Cost of notes receivable acquired from John Deere	(207)	(122.9)
Collections of notes receivable from John Deere	35.7	335.3
Other	(10.7)	(7.6)
Net cash used for investing activities	(4,843.3)	(1,698)
Cash Flows from Financing Activities:
Increase in commercial paper and other notes payable - net	3,948.6	1,051.6
Decrease in securitization borrowings - net	(333.3)	(593.7)
Decrease in short-term borrowings with John Deere - net	(580)	(90.2)
Proceeds from issuance of long-term external borrowings	4,298	3,658
Payments of long-term external borrowings	(3,121.4)	(2,722.9)
Dividends paid		(175)
Capital investments from John Deere	810
Debt issuance costs	(17.6)	(16.1)
Net cash provided by financing activities	5,004.3	1,111.7
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	13.6	(9.4)
Net increase (decrease) in cash, cash equivalents, and restricted cash	831.3	(54.6)
Cash, cash equivalents, and restricted cash at beginning of period	766.1	772.8
Cash, cash equivalents, and restricted cash at end of period	1,597.4	718.2
Components of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	1,493.8	632.1
Restricted cash	$ 103.6	$ 86.1
Balance sheet location of restricted cash	Other assets	Other assets
Total cash, cash equivalents, and restricted cash	$ 1,597.4	$ 718.2

Statements of Changes in Consol

Statements of Changes in Consolidated Stockholder's Equity - USD ($) $ in Millions	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interests	Total
Balance at Oct. 31, 2021	$ 1,482.8	$ 2,982.3	$ (49.4)	$ 1.8	$ 4,417.5
Increase (Decrease) in Stockholder's Equity
Net income (loss)		339		(0.1)	338.9
Other comprehensive income (loss)			(30.3)		(30.3)
Dividends declared		(175)			(175)
Balance at May. 01, 2022	1,482.8	3,146.3	(79.7)	1.7	4,551.1
Balance at Jan. 30, 2022	1,482.8	3,124.5	(73)	1.8	4,536.1
Increase (Decrease) in Stockholder's Equity
Net income (loss)		156.8		(0.1)	156.7
Other comprehensive income (loss)			(6.7)		(6.7)
Dividends declared		(135)			(135)
Balance at May. 01, 2022	1,482.8	3,146.3	(79.7)	1.7	4,551.1
Balance at Oct. 30, 2022	1,482.8	3,305.9	(104.7)	1.5	4,685.5
Increase (Decrease) in Stockholder's Equity
Net income (loss)		267.6		(0.3)	267.3
Other comprehensive income (loss)			32.2		32.2
Capital investment	810				810
Balance at Apr. 30, 2023	2,292.8	3,573.5	(72.5)	1.2	5,795
Balance at Jan. 29, 2023	1,482.8	3,443.5	(52.4)	1.3	4,875.2
Increase (Decrease) in Stockholder's Equity
Net income (loss)		130		(0.1)	129.9
Other comprehensive income (loss)			(20.1)		(20.1)
Capital investment	810				810
Balance at Apr. 30, 2023	$ 2,292.8	$ 3,573.5	$ (72.5)	$ 1.2	$ 5,795

Organization and Consolidation

Organization and Consolidation	6 Months Ended
	Apr. 30, 2023
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. In addition, the Company 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). The Company also provides wholesale financing to dealers of John Deere agriculture and turf equipment and construction and forestry equipment, primarily to finance inventories of equipment for those dealers (wholesale receivables). Further, 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 primarily involves John Deere products. Retail notes, revolving charge accounts, and financing leases are collectively called “Customer Receivables.” Customer Receivables and wholesale receivables 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 second quarter ends for fiscal years 2023 and 2022 were April 30, 2023 and May 1, 2022, respectively. Both second quarters contained 13 weeks, while both year-to-date periods contained 26 weeks. Unless otherwise stated, references to particular years, quarters, or months 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. ​ Immaterial Restatement of Prior Period Financial Statements In the second quarter of 2023, the Company corrected the accounting treatment for financing incentives offered to John Deere dealers, which impacted the timing of expense recognition and the presentation of incentive costs in the consolidated financial statements. Refer to Note 2 for further information regarding the new and previous accounting treatment. The impact of the correction in periods prior to the second quarter ended April 30, 2023 is not material to the consolidated financial statements of the Company in any of the impacted periods; however, the aggregate impact of correcting prior periods within the second quarter ended April 30, 2023 would have been material to the Company’s current period consolidated financial results. Consequently, the Company has made these immaterial corrections in the comparative prior periods. Refer to Note 12 for quantification of the prior period restatement impacts. Additionally, comparative prior period amounts in the applicable notes to the consolidated financial statements have been restated.

Summary of Significant Accounti

Summary of Significant Accounting Policies and New Accounting Standards	6 Months Ended
	Apr. 30, 2023
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 In the second quarter of 2023 the Company corrected its accounting policy for financing incentives offered to John Deere dealers, as described below. Financing Incentives The Company provides incentive funds to John Deere dealers that meet certain performance metrics, which include minimum finance volume and finance market share with the Company over a defined period. At the end of the qualification period, dealers are granted incentive funds, which can be used for certain predefined uses, including interest rate reductions on future loan and lease originations. In addition, certain dealers may elect to receive cash for a portion of their earned funds. The Company accrues for the incentive costs over the qualification period, which are reported as administrative and operating expenses in the consolidated income statements and accounts payable and accrued expenses in the consolidated balance sheets. The accrued liability is released as dealers utilize the funds. Under the previous accounting treatment, the Company amortized the non-cash portion of the incentive program costs as a reduction to finance income or lease revenue after the dealers designated the use of the incentive award. 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 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 2023 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	6 Months Ended
	Apr. 30, 2023
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2022 Cumulative translation adjustment ​ $ (103.8) ​ $ (169.0) ​ $ (125.1) Unrealized gain on derivatives ​ ​ 33.8 ​ ​ 66.8 ​ ​ 47.5 Unrealized loss on debt securities ​ ​ (2.5) ​ ​ (2.5) ​ ​ (2.1) Total accumulated other comprehensive income (loss) ​ $ (72.5) ​ $ (104.7) ​ $ (79.7) ​ 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 ​ ​ Amount ​ Credit ​ Amount Three Months Ended April 30, 2023 ​ ​ ​ ​ ​ ​ Cumulative translation adjustment $ (1.0) ​ ​ ​ ​ $ (1.0) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (3.7) ​ $ .8 ​ (2.9) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (19.9) ​ ​ 4.1 ​ ​ (15.8) ​ Net unrealized gain (loss) on derivatives ​ (23.6) ​ 4.9 ​ (18.7) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.7) ​ ​ .3 ​ ​ (.4) ​ Total other comprehensive income (loss) ​ $ (25.3) ​ $ 5.2 ​ $ (20.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended April 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 65.2 ​ ​ ​ ​ $ 65.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (5.6) ​ $ 1.2 ​ (4.4) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (36.2) ​ ​ 7.6 ​ ​ (28.6) ​ Net unrealized gain (loss) on derivatives ​ (41.8) ​ 8.8 ​ (33.0) ​ Total other comprehensive income (loss) ​ $ 23.4 ​ $ 8.8 ​ $ 32.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ Tax ​ After ​ ​ Tax ​ (Expense) ​ Tax ​ ​ Amount ​ Credit ​ Amount Three Months Ended May 1, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (34.2) ​ ​ ​ ​ $ (34.2) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 35.2 ​ $ (7.3) ​ 27.9 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (.2) ​ ​ ​ ​ (.2) ​ Net unrealized gain (loss) on derivatives ​ 35.0 ​ ​ (7.3) ​ 27.7 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ ​ ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ .6 ​ $ (7.3) ​ $ (6.7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended May 1, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (70.6) ​ ​ ​ ​ $ (70.6) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 50.6 ​ $ (10.6) ​ 40.0 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ .9 ​ ​ (.2) ​ .7 ​ Net unrealized gain (loss) on derivatives ​ 51.5 ​ (10.8) ​ 40.7 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.5) ​ ​ .1 ​ ​ (.4) ​ Total other comprehensive income (loss) ​ $ (19.6) ​ $ (10.7) ​ $ (30.3) ​ ​

Receivables

Receivables	6 Months Ended
	Apr. 30, 2023
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 Customer Receivables are 90 days delinquent, accrual of finance income and lease revenue is suspended, and accrued finance income and lease revenue previously recognized is reversed. Generally, when a wholesale receivable becomes 60 days delinquent, the Company determines whether the accrual of finance income on interest-bearing wholesale receivables should be suspended and whether accrued finance income previously recognized should be reversed. Finance income and lease revenue for non-performing Receivables is recognized on a cash basis. Accrual of finance income and lease revenue is resumed when the receivable becomes contractually current and collections are reasonably assured. Accrued finance income and lease revenue reversed on non-performing Receivables, and finance income and lease revenue recognized from cash payments on non-performing Receivables were as follows (in millions of dollars ): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ April 30 ​ May 1 ​ April 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Accrued finance income and lease revenue reversed ​ $ 5.1 ​ $ 3.0 ​ $ 7.9 ​ $ 6.8 Finance income and lease revenue recognized on cash payments ​ ​ 4.6 ​ ​ 3.9 ​ ​ 7.7 ​ ​ 7.0 ​ ​ 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 accounts are 120 days delinquent, the collateral is repossessed or the account is designated for litigation, and the estimated uncollectible amount from the customer is written off to the allowance for credit losses. Revolving charge accounts are generally deemed to be uncollectible and written off to the allowance for credit losses when delinquency reaches 120 days. Generally, when a wholesale account becomes 60 days delinquent, the Company determines whether the collateral should be repossessed or the account designated for litigation, and the estimated uncollectible amount is written off to the allowance for credit losses. The credit quality analysis of Customer Receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 5,762.9 ​ $ 9,434.5 ​ $ 5,598.5 ​ $ 2,662.7 ​ $ 1,034.1 ​ $ 392.3 ​ $ 3,539.3 ​ $ 28,424.3 30-59 days past due ​ ​ 8.6 ​ ​ 48.8 ​ ​ 50.1 ​ ​ 29.1 ​ ​ 16.5 ​ ​ 7.8 ​ ​ 14.2 ​ ​ 175.1 60-89 days past due ​ ​ 1.1 ​ ​ 9.8 ​ ​ 20.1 ​ ​ 16.9 ​ ​ 3.1 ​ ​ 1.9 ​ ​ 7.7 ​ ​ 60.6 90+ days past due ​ ​ ​ ​ ​ .2 ​ ​ .4 ​ ​ .1 ​ ​ .1 ​ ​ .1 ​ ​ ​ ​ ​ .9 Non-performing ​ ​ 5.4 ​ ​ 45.2 ​ ​ 37.0 ​ ​ 25.5 ​ ​ 14.0 ​ ​ 16.0 ​ ​ 24.9 ​ ​ 168.0 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,168.7 ​ ​ 1,954.1 ​ ​ 1,179.4 ​ ​ 440.4 ​ ​ 132.8 ​ ​ 49.4 ​ ​ 106.6 ​ ​ 5,031.4 30-59 days past due ​ ​ 5.6 ​ ​ 30.5 ​ ​ 23.9 ​ ​ 22.9 ​ ​ 20.8 ​ ​ 9.5 ​ ​ 3.7 ​ ​ 116.9 60-89 days past due ​ ​ .2 ​ ​ 5.5 ​ ​ 13.2 ​ ​ 10.9 ​ ​ 13.5 ​ ​ 11.7 ​ ​ 1.8 ​ ​ 56.8 90+ days past due ​ ​ ​ ​ ​ 1.3 ​ ​ ​ ​ ​ .1 ​ ​ 1.3 ​ ​ ​ ​ ​ ​ ​ ​ 2.7 Non-performing ​ ​ 4.4 ​ ​ 59.9 ​ ​ 56.1 ​ ​ 29.4 ​ ​ 9.6 ​ ​ 5.8 ​ ​ 1.2 ​ ​ 166.4 Total ​ $ 6,956.9 ​ $ 11,589.8 ​ $ 6,978.7 ​ $ 3,238.0 ​ $ 1,245.8 ​ $ 494.5 ​ $ 3,699.4 ​ $ 34,203.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 11,736.1 ​ $ 6,939.9 ​ $ 3,479.6 ​ $ 1,515.8 ​ $ 581.3 ​ $ 152.9 ​ $ 4,022.7 ​ $ 28,428.3 30-59 days past due ​ ​ 40.1 ​ ​ 55.8 ​ ​ 31.4 ​ ​ 15.0 ​ ​ 6.4 ​ ​ 2.7 ​ ​ 18.4 ​ ​ 169.8 60-89 days past due ​ ​ 11.8 ​ ​ 19.5 ​ ​ 10.8 ​ ​ 4.4 ​ ​ 2.0 ​ ​ 1.1 ​ ​ 4.5 ​ ​ 54.1 90+ days past due ​ ​ .4 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .8 Non-performing ​ ​ 24.7 ​ ​ 38.4 ​ ​ 29.2 ​ ​ 13.7 ​ ​ 11.2 ​ ​ 10.2 ​ ​ 7.8 ​ ​ 135.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,373.7 ​ ​ 1,526.3 ​ ​ 658.1 ​ ​ 230.7 ​ ​ 57.2 ​ ​ 10.5 ​ ​ 107.7 ​ ​ 4,964.2 30-59 days past due ​ ​ 44.5 ​ ​ 40.6 ​ ​ 20.7 ​ ​ 7.6 ​ ​ 1.8 ​ ​ .6 ​ ​ 3.1 ​ ​ 118.9 60-89 days past due ​ ​ 18.1 ​ ​ 11.4 ​ ​ 6.0 ​ ​ 3.0 ​ ​ .7 ​ ​ .1 ​ ​ 1.0 ​ ​ 40.3 90+ days past due ​ ​ .3 ​ ​ 1.3 ​ ​ ​ ​ ​ 1.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 Non-performing ​ ​ 19.3 ​ ​ 51.2 ​ ​ 27.6 ​ ​ 15.4 ​ ​ 5.5 ​ ​ 2.9 ​ ​ .6 ​ ​ 122.5 Total ​ $ 14,269.0 ​ $ 8,684.6 ​ $ 4,263.6 ​ $ 1,807.0 ​ $ 666.1 ​ $ 181.0 ​ $ 4,165.8 ​ $ 34,037.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 5,084.4 ​ $ 8,914.4 ​ $ 4,483.0 ​ $ 2,103.9 ​ $ 923.3 ​ $ 369.7 ​ $ 3,299.5 ​ $ 25,178.2 30-59 days past due ​ ​ 18.0 ​ ​ 66.3 ​ ​ 31.6 ​ ​ 16.9 ​ ​ 7.6 ​ ​ 4.0 ​ ​ 11.0 ​ ​ 155.4 60-89 days past due ​ ​ 3.7 ​ ​ 20.7 ​ ​ 9.7 ​ ​ 5.4 ​ ​ 3.7 ​ ​ 1.8 ​ ​ 4.1 ​ ​ 49.1 90+ days past due ​ ​ ​ ​ ​ .3 ​ ​ .6 ​ ​ ​ ​ ​ .2 ​ ​ .1 ​ ​ ​ ​ ​ 1.2 Non-performing ​ ​ 3.5 ​ ​ 32.2 ​ ​ 30.9 ​ ​ 19.1 ​ ​ 15.4 ​ ​ 14.9 ​ ​ 14.9 ​ ​ 130.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,326.9 ​ ​ 1,929.9 ​ ​ 902.5 ​ ​ 380.7 ​ ​ 116.3 ​ ​ 26.8 ​ ​ 91.1 ​ ​ 4,774.2 30-59 days past due ​ ​ 15.6 ​ ​ 43.0 ​ ​ 28.7 ​ ​ 11.0 ​ ​ 3.5 ​ ​ 1.4 ​ ​ 3.1 ​ ​ 106.3 60-89 days past due ​ ​ 6.2 ​ ​ 19.3 ​ ​ 12.1 ​ ​ 4.9 ​ ​ 1.4 ​ ​ .3 ​ ​ .7 ​ ​ 44.9 90+ days past due ​ ​ .2 ​ ​ ​ ​ ​ .6 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.2 Non-performing ​ ​ 2.7 ​ ​ 37.6 ​ ​ 43.8 ​ ​ 24.5 ​ ​ 9.6 ​ ​ 4.6 ​ ​ .6 ​ ​ 123.4 Total ​ $ 6,461.2 ​ $ 11,063.7 ​ $ 5,543.5 ​ $ 2,566.8 ​ $ 1,081.0 ​ $ 423.6 ​ $ 3,425.0 ​ $ 30,564.8 ​ The credit quality analysis of wholesale receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 258.8 ​ $ 196.6 ​ $ 34.3 ​ $ 14.7 ​ $ 2.0 ​ $ 1.1 ​ $ 9,844.4 ​ $ 10,351.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ 6.7 ​ ​ 6.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.0 ​ ​ 6.0 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 9.1 ​ ​ 3.5 ​ ​ 22.9 ​ ​ .6 ​ ​ .2 ​ ​ .1 ​ ​ 2,470.2 ​ ​ 2,506.6 30+ days past due ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.0 ​ ​ 9.1 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 268.0 ​ $ 200.1 ​ $ 57.2 ​ $ 15.3 ​ $ 2.3 ​ $ 1.2 ​ $ 12,336.3 ​ $ 12,880.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 381.3 ​ $ 62.7 ​ $ 25.0 ​ $ 3.8 ​ $ .3 ​ $ 1.1 ​ $ 6,238.1 ​ $ 6,712.3 30+ days past due ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8.3 ​ ​ 8.4 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.5 ​ ​ 5.5 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 4.8 ​ ​ 28.2 ​ ​ 1.4 ​ ​ .4 ​ ​ .1 ​ ​ ​ ​ ​ 1,633.8 ​ ​ 1,668.7 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.6 ​ ​ 9.6 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 386.1 ​ $ 91.0 ​ $ 26.4 ​ $ 4.2 ​ $ .4 ​ $ 1.1 ​ $ 7,895.3 ​ $ 8,404.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 223.2 ​ $ 149.8 ​ $ 41.4 ​ $ 7.8 ​ $ 1.2 ​ $ 1.8 ​ $ 5,548.6 ​ $ 5,973.8 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 18.5 ​ ​ 18.5 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.9 ​ ​ 5.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 3.7 ​ ​ 33.0 ​ ​ 1.9 ​ ​ 1.7 ​ ​ .2 ​ ​ ​ ​ ​ 1,304.4 ​ ​ 1,344.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.3 ​ ​ 3.3 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 226.9 ​ $ 182.8 ​ $ 43.3 ​ $ 9.5 ​ $ 1.4 ​ $ 1.8 ​ $ 6,880.7 ​ $ 7,346.4 ​ 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 $3.9 million for the second quarter and $5.8 million for the first six months of 2023, compared with $1.9 million for the second quarter and $3.1 million for the first six months of 2022. An analysis of the allowance for credit losses and investment in Receivables during 2023 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ April 30, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 94.8 ​ $ 16.0 ​ $ 10.9 ​ $ 121.7 ​ Provision for credit losses* ​ 18.6 ​ ​ 8.2 ​ ​ .2 ​ ​ 27.0 ​ Write-offs ​ (14.3) ​ ​ (10.5) ​ ​ ​ ​ ​ (24.8) ​ Recoveries ​ 4.2 ​ ​ 5.6 ​ ​ ​ ​ ​ 9.8 ​ Translation adjustments ​ (.1) ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ End of period balance ​ $ 103.2 ​ $ 19.3 ​ $ 11.2 ​ $ 133.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ April 30, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 95.4 ​ $ 21.9 ​ $ 11.1 ​ $ 128.4 ​ Provision (credit) for credit losses* ​ 25.4 ​ ​ 4.5 ​ ​ (.3) ​ ​ 29.6 ​ Write-offs ​ (24.5) ​ ​ (18.0) ​ ​ (.1) ​ ​ (42.6) ​ Recoveries ​ 6.6 ​ ​ 10.9 ​ ​ .6 ​ ​ 18.1 ​ Translation adjustments ​ .3 ​ ​ ​ ​ ​ (.1) ​ ​ .2 ​ End of period balance ​ $ 103.2 ​ $ 19.3 ​ $ 11.2 ​ $ 133.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 30,503.7 ​ $ 3,699.4 ​ $ 12,880.4 ​ $ 47,083.5 ​ ​ * The allowance for credit losses increased in the second quarter and first six months of 2023, primarily driven by higher expected losses on turf and construction customer accounts, in addition to higher portfolio balances. The Company continues to monitor the economy as part of the allowance setting process, including potential impacts of inflation and interest rates, among other factors, and qualitative adjustments to the allowance are incorporated as necessary. An analysis of the allowance for credit losses and investment in Receivables during 2022 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ May 1, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 94.7 ​ $ 15.2 ​ $ 11.5 ​ $ 121.4 ​ Provision for credit losses* ​ 10.9 ​ ​ 2.5 ​ ​ .2 ​ ​ 13.6 ​ Write-offs ​ (13.3) ​ ​ (7.5) ​ ​ (.2) ​ ​ (21.0) ​ Recoveries ​ 3.7 ​ ​ 7.1 ​ ​ ​ ​ ​ 10.8 ​ Translation adjustments ​ (.1) ​ ​ .1 ​ ​ (.3) ​ ​ (.3) ​ End of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ May 1, 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* ​ 18.8 ​ ​ (6.9) ​ ​ .3 ​ ​ 12.2 ​ Write-offs ​ (25.8) ​ ​ (11.5) ​ ​ (.2) ​ ​ (37.5) ​ Recoveries ​ 6.6 ​ ​ 14.9 ​ ​ ​ ​ ​ 21.5 ​ Translation adjustments ​ (.2) ​ ​ .1 ​ ​ (.6) ​ ​ (.7) ​ End of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 27,139.8 ​ $ 3,425.0 ​ $ 7,346.4 ​ $ 37,911.2 ​ ​ * Troubled Debt Restructuring A troubled debt restructuring is a significant 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. The following table includes Receivable contracts identified as troubled debt restructurings, which were primarily retail notes (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ April 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ Number of receivable contracts ​ ​ 72 ​ ​ 139 Pre-modification balance ​ $ 1.5 ​ $ 5.8 ​ Post-modification balance ​ ​ 1.5 ​ ​ 4.7 ​ ​ During the same periods as the table above, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At April 30, 2023, 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	6 Months Ended
	Apr. 30, 2023
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2022 Retail notes securitized ​ $ 5,674.0 ​ $ 5,951.6 ​ $ 4,079.2 ​ Allowance for credit losses ​ (15.6) ​ (15.7) ​ (12.2) ​ Other assets (primarily restricted cash) ​ 115.3 ​ 155.2 ​ 124.0 ​ Total restricted securitized assets ​ $ 5,773.7 ​ $ 6,091.1 ​ $ 4,191.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 5,379.2 ​ $ 5,710.9 ​ $ 4,000.9 ​ Accrued interest on borrowings ​ 8.3 ​ 6.1 ​ 2.1 ​ Total liabilities related to restricted securitized assets ​ $ 5,387.5 ​ $ 5,717.0 ​ $ 4,003.0 ​ ​

Leases

Leases	6 Months Ended
	Apr. 30, 2023
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 ​ Six Months Ended ​ ​ April 30 ​ May 1 ​ April 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 Sales-type and direct financing lease revenues ​ $ 19.6 ​ $ 12.5 ​ $ 38.4 ​ $ 25.5 Operating lease revenues ​ ​ 216.8 ​ ​ 220.3 ​ ​ 435.7 ​ ​ 445.0 Variable lease revenues ​ 4.6 ​ 5.8 ​ 10.2 ​ 12.0 Total lease revenues ​ $ 241.0 ​ $ 238.6 ​ $ 484.3 ​ $ 482.5 ​ 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 and were $.4 million and $1.2 million for the second quarter and first six months ended April 30, 2023, respectively, compared with $.6 million and $1.4 million for the same periods last year, respectively. ​ The cost of equipment on operating leases by market was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2022 Agriculture and turf ​ $ 4,921.6 ​ $ 5,017.3 ​ $ 4,846.7 Construction and forestry ​ ​ 1,067.9 ​ 1,138.0 ​ ​ 1,222.9 Total ​ ​ 5,989.5 ​ ​ 6,155.3 ​ ​ 6,069.6 Accumulated depreciation ​ (1,265.3) ​ ​ (1,301.8) ​ ​ (1,360.9) Equipment on operating leases – net ​ $ 4,724.2 ​ $ 4,853.5 ​ $ 4,708.7 ​ Total operating lease residual values at April 30, 2023, October 30, 2022, and May 1, 2022 were $3,277.0 million, $3,366.7 million, and $3,335.0 million, respectively. Certain operating leases are subject to residual value guarantees. The total residual value guarantees were $501.3 million, $440.7 million, and $348.4 million at April 30, 2023, October 30, 2022, and May 1, 2022, 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 April 30, 2023, October 30, 2022, and May 1, 2022 were $16.3 million, $10.8 million, and $9.1 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	6 Months Ended
	Apr. 30, 2023
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 rates. Interest earned from John Deere is recorded in other income and was $8.6 million for the second quarter and $15.4 million in the first six months of 2023, respectively, compared with $4.7 million and $10.2 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Banco John Deere S.A. ​ $ 545.6 ​ $ 370.0 ​ $ 171.8 ​ John Deere Agricultural Holdings, Inc. ​ ​ ​ ​ .7 ​ ​ 39.7 ​ Total Notes Receivable from John Deere ​ $ 545.6 ​ $ 370.7 ​ $ 211.5 ​ ​ The Company also obtains funding from affiliated companies. At April 30, 2023, October 30, 2022, and May 1, 2022, the Company had notes payable to John Deere of $4,810.4 million, $5,225.5 million and $5,276.4 million, respectively. The intercompany borrowings are primarily short-term in nature or contain a due on demand call option. At April 30, 2023, $551.5 million of the intercompany borrowings were long-term loans without a due on demand call option, which mature in 2025. 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 and interest paid to John Deere, was $45.8 million for the second quarter and $85.7 million for the first six months of 2023, respectively, compared with $17.5 million and $34.0 million for the same periods last year, respectively.

Long-Term External Borrowings

Long-Term External Borrowings	6 Months Ended
	Apr. 30, 2023
Long-Term External Borrowings
Long-Term External Borrowings	(8)  Long-Term External Borrowings Long-term external borrowings of the Company at April 30, 2023, October 30, 2022, and May 1, 2022 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 24,977.3 ​ $ 22,595.4 ​ $ 20,445.0 ​ Other notes ​ ​ .3 ​ ​ 2.5 ​ ​ 5.4 ​ Total senior debt ​ ​ 24,977.6 ​ ​ 22,597.9 ​ ​ 20,450.4 ​ Unamortized debt discount and debt issuance costs ​ ​ (70.8) ​ ​ (70.1) ​ ​ (59.1) ​ Total ​ $ 24,906.8 ​ $ 22,527.8 ​ $ 20,391.3 ​ ​ 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 $25,625.1 million, $23,564.6 million, and $20,904.0 million at April 30, 2023, October 30, 2022, and May 1, 2022, respectively, and have serial maturity dates 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.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Apr. 30, 2023
Commitments and Contingencies
Commitments and Contingencies	(9)  Commitments and Contingencies At April 30, 2023, John Deere Financial Inc., the John Deere finance subsidiary in Canada, had $2,059.9 million of medium-term notes outstanding, and a fair value liability of $113.0 million for derivatives outstanding, prior to considering applicable netting provisions, with notional amounts of $3,071.4 million that were guaranteed by Capital Corporation. The weighted-average interest rate on the medium-term notes at April 30, 2023 was 2.0 percent with a maximum remaining maturity of six years. Capital Corporation has a variable interest in John Deere Canada Funding Inc. (JDCFI), a wholly-owned subsidiary of John Deere Financial Inc., which was created as a VIE to issue debt in public markets to fund the operations of affiliated companies in Canada. Capital Corporation has a variable interest in JDCFI because it provides guarantees for all debt issued by JDCFI, however it does not consolidate JDCFI because it does not have the power to direct the activities that most significantly impact JDCFI’s economic performance. Capital Corporation has no carrying value of assets or liabilities related to JDCFI. Its maximum exposure to loss is the amount of the debt issued by JDCFI and guaranteed by Capital Corporation, which was $147.1 million at April 30, 2023. The interest rate on the debt at April 30, 2023 was 3.0 percent with a remaining maturity less than 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. At April 30, 2023, the amount of unused commitments to extend credit to customers and John Deere dealers was $32.9 billion and $5.6 billion, respectively. 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 has a reserve for credit losses of $2.6 million on unfunded commitments that are not unconditionally cancellable at April 30, 2023, which is recorded in accounts payable and accrued expenses on the consolidated balance sheets. At April 30, 2023, 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 April 30, 2023. 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	6 Months Ended
	Apr. 30, 2023
Fair Value Measurements
Fair Value Measurements	(10)   Fair Value Measurements The fair values of financial instruments that do not approximate the carrying values were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ October 30, 2022 ​ May 1, 2022 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 41,291.4 ​ $ 40,883.5 ​ $ 36,377.3 ​ $ 35,562.4 ​ $ 33,719.7 ​ $ 33,365.3 ​ Retail notes securitized – net ​ 5,658.4 ​ 5,493.8 ​ 5,935.9 ​ ​ 5,696.3 ​ 4,067.0 ​ 4,010.7 ​ Securitization borrowings ​ 5,379.2 ​ 5,271.2 ​ 5,710.9 ​ ​ 5,576.6 ​ 4,000.9 ​ 3,937.7 ​ Current maturities of long- ​ 5,186.3 ​ ​ 5,078.3 ​ 5,989.6 ​ ​ 5,887.7 ​ 6,153.7 ​ 6,127.1 ​ Long-term external ​ 24,906.8 ​ 24,658.8 ​ 22,527.8 ​ ​ 21,792.7 ​ 20,391.3 ​ 20,035.4 ​ ​ 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 October 30 May 1 ​ ​ 2023 ​ 2022 ​ 2022 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.2 ​ $ 1.1 ​ $ 1.6 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 188.5 ​ ​ 214.8 ​ ​ 149.0 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 12.4 ​ 1.3 ​ 39.7 ​ Total assets ​ $ 202.1 ​ $ 217.2 ​ $ 190.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 610.2 ​ $ 1,024.2 ​ $ 599.4 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 1.8 ​ 14.1 ​ .2 ​ Total liabilities ​ $ 612.0 ​ $ 1,038.3 ​ $ 599.6 ​ 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 April 30, 2023, the amortized cost basis and fair value of these available-for-sale debt securities were $5.0 million and $1.2 million, respectively. Unrealized losses at April 30, 2023 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 April 30, 2023, October 30, 2022, and May 1, 2022. 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	6 Months Ended
	Apr. 30, 2023
Derivative Instruments
Derivative Instruments	(11)  Derivative Instruments The Company’s policy is to execute derivative transactions 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 the derivative 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 April 30, 2023, October 30, 2022, and May 1, 2022 were $2,250.0 million, $1,950.0 million, and $2,450.0 million, respectively. Fair value gains or losses on cash flow hedges are 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 April 30, 2023 that is expected to be reclassified to interest expense in the next twelve months if interest rates remain unchanged is $32.7 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 April 30, 2023, October 30, 2022, and May 1, 2022 were $10,280.9 million, $9,448.9 million, and $7,952.3 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 Relationships ​ ​ ​ Carrying ​ Cumulative ​ Carrying Amount ​ Cumulative ​ ​ ​ Amount of ​ Fair Value ​ of Formerly ​ Fair Value ​ April 30, 2023 ​ Hedged Item ​ Hedging Adjustment ​ Hedged Item ​ Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,213.3 ​ $ 13.9 ​ Long-term external borrowings ​ $ 9,719.4 ​ $ (515.9) ​ ​ 5,656.7 ​ ​ (131.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 2,514.9 ​ $ 15.5 ​ Long-term external borrowings ​ $ 8,453.6 ​ $ (950.1) ​ ​ 5,519.6 ​ ​ (19.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 177.8 ​ $ .6 ​ $ 2,606.6 ​ $ 7.4 ​ Long-term external borrowings ​ ​ 7,174.6 ​ ​ (564.5) ​ ​ 5,120.0 ​ ​ 105.5 ​ ​ Derivatives Not Designated as Hedging Instruments The Company has certain interest rate contracts (swaps and caps), foreign currency exchange contracts (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 for certain borrowings. The total notional amounts of the interest rate swaps at April 30, 2023, October 30, 2022, and May 1, 2022 were $6,009.3 million, $3,931.3 million, and $2,791.1 million, the foreign currency exchange contracts were $1,312.3 million, $1,069.0 million, and $903.4 million, and the cross-currency interest rate contracts were $163.3 million, $134.2 million, and $102.6 million, respectively. To facilitate borrowings through securitization of retail notes, interest rate caps were sold with notional amounts of $966.8 million, $1,020.3 million, and $1,281.9 million at April 30, 2023, October 30, 2022, and May 1, 2022, respectively. Interest rate caps were also purchased with notional amounts of $966.8 million, $1,020.3 million, and $1,281.9 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 October 30 May 1 ​ ​ 2023 ​ 2022 ​ 2022 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 104.1 ​ $ 87.5 ​ $ 62.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 83.0 ​ 124.5 ​ 81.5 ​ Cross-currency interest rate contracts ​ 1.4 ​ 2.8 ​ 5.0 ​ Total not designated ​ 84.4 ​ 127.3 ​ 86.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 12.4 ​ 1.3 ​ 39.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 200.9 ​ $ 216.1 ​ $ 188.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 564.0 ​ $ 947.9 ​ $ 545.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 32.6 ​ 74.2 ​ 54.0 ​ Cross-currency interest rate contracts ​ ​ 13.6 ​ ​ 2.1 ​ .2 ​ Total not designated ​ 46.2 ​ 76.3 ​ 54.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.8 ​ 14.1 ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 612.0 ​ $ 1,038.3 ​ $ 599.6 ​ ​ 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 ​ Six Months Ended ​ ​ April 30 ​ May 1 ​ April 30 ​ May 1 ​ 2023 2022 2023 2022 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ (3.9) ​ $ (489.5) ​ $ 231.4 ​ $ (629.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) $ (3.7) ​ $ 35.2 ​ $ (5.6) ​ $ 50.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense 19.9 ​ .2 ​ 36.2 ​ (.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ 4.3 ​ $ 46.5 ​ $ 2.4 ​ $ 43.2 ​ Foreign currency exchange contracts - Administrative and operating expenses * 75.3 ​ (3.4) ​ ​ (59.8) ​ ​ 64.4 ​ Total not designated ​ $ 79.6 ​ $ 43.1 ​ $ (57.4) ​ $ 107.6 ​ * 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 April 30, 2023 and May 1, 2022 were a gain of $13.9 million and a loss of $454.9 million, respectively. The amounts the Company recognized on these affiliate party transactions for the six months ended April 30,2023 and May 1, 2022 were a gain of $256.4 million and a loss of $577.5 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 April 30, 2023, October 30, 2022, and May 1, 2022. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 12.4 ​ $ (1.5) ​ ​ ​ ​ $ 10.9 ​ John Deere ​ 188.5 ​ ​ (147.0) ​ ​ ​ ​ 41.5 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 1.8 ​ (1.5) ​ ​ ​ ​ .3 ​ John Deere ​ 610.2 ​ (147.0) ​ ​ ​ 463.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 1.3 ​ $ (1.1) ​ ​ ​ ​ $ .2 ​ John Deere ​ 214.8 ​ (128.3) ​ ​ ​ 86.5 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 14.1 ​ (1.1) ​ ​ ​ 13.0 ​ John Deere ​ 1,024.2 ​ (128.3) ​ ​ ​ 895.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 39.7 ​ $ (.2) ​ ​ ​ ​ $ 39.5 ​ John Deere ​ 149.0 ​ ​ (82.8) ​ ​ ​ ​ 66.2 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .2 ​ (.2) ​ ​ ​ ​ ​ ​ John Deere ​ 599.4 ​ (82.8) ​ ​ ​ 516.6 ​ ​

Immaterial Restatement of Prior

Immaterial Restatement of Prior Period Financial Statements	6 Months Ended
	Apr. 30, 2023
Immaterial Restatement of Prior Period Financial Statements
Immaterial Restatement of Prior Period Financial Statements	(12)  Immaterial Restatement of Prior Period Financial Statements In the second quarter of 2023, the Company corrected the accounting treatment for financing incentives The prior period impacts to the Company’s statements of consolidated income and the related impacts to the statements of consolidated comprehensive income were as shown below (in millions of dollars). In addition, the Company's net income for the three months ended January 29, 2023 decreased $9.5 million from $147.1 million to $137.6 million. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended May 1, 2022 ​ Six Months Ended May 1, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income earned on retail notes $ 242.8 ​ $ 9.1 ​ $ 251.9 ​ $ 482.8 ​ $ 18.0 ​ $ 500.8 Lease revenues ​ 236.5 ​ ​ 1.5 ​ ​ 238.0 ​ ​ 478.0 ​ ​ 3.1 ​ ​ 481.1 Total revenues ​ 651.4 ​ ​ 10.6 ​ ​ 662.0 ​ ​ 1,294.3 ​ ​ 21.1 ​ ​ 1,315.4 Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ 115.2 ​ ​ 13.0 ​ ​ 128.2 ​ ​ 211.6 ​ ​ 33.0 ​ ​ 244.6 Total operating expenses ​ 393.8 ​ ​ 13.0 ​ ​ 406.8 ​ ​ 697.5 ​ ​ 33.0 ​ ​ 730.5 Total expenses ​ 449.5 ​ ​ 13.0 ​ ​ 462.5 ​ ​ 852.7 ​ ​ 33.0 ​ ​ 885.7 Income of consolidated group before income taxes ​ 201.9 ​ ​ (2.4) ​ ​ 199.5 ​ ​ 441.6 ​ ​ (11.9) ​ ​ 429.7 Provision for income taxes ​ 44.5 ​ ​ (.6) ​ ​ 43.9 ​ ​ 96.5 ​ ​ (2.7) ​ ​ 93.8 Income of consolidated group ​ 157.4 ​ ​ (1.8) ​ ​ 155.6 ​ ​ 345.1 ​ ​ (9.2) ​ ​ 335.9 Net income ​ 158.5 ​ ​ (1.8) ​ ​ 156.7 ​ ​ 348.1 ​ ​ (9.2) ​ ​ 338.9 Net income attributable to the Company $ 158.6 ​ $ (1.8) ​ $ 156.8 ​ $ 348.2 ​ $ (9.2) ​ $ 339.0 ​ The prior period impacts to the Company’s consolidated balance sheets and the related components of stockholder’s equity were as shown below (in millions of dollars). In addition, beginning retained earnings for the year ended October 30, 2022 decreased $108.7 million from $3,091.0 million to $2,982.3 million. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ May 1, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes $ 22,860.3 ​ $ (61.3) ​ $ 22,799.0 ​ $ 22,211.4 ​ $ (47.3) ​ $ 22,164.1 Total receivables 42,502.9 ​ (61.3) ​ 42,441.6 ​ 37,958.5 ​ (47.3) ​ 37,911.2 Total receivables – net 42,374.5 ​ (61.3) ​ 42,313.2 ​ 37,834.0 ​ (47.3) ​ 37,786.7 Deferred income taxes 23.3 ​ 2.2 ​ 25.5 ​ 29.6 ​ 1.9 ​ 31.5 Total Assets $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 44,012.9 ​ $ (45.4) ​ $ 43,967.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholder’s Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses $ 866.1 ​ $ 91.2 ​ $ 957.3 ​ $ 817.0 ​ $ 103.1 ​ $ 920.1 Deferred income taxes 239.4 ​ (30.9) ​ 208.5 ​ 246.8 ​ (30.6) ​ 216.2 Total liabilities 44,123.1 ​ 60.3 ​ 44,183.4 ​ 39,343.9 ​ 72.5 ​ 39,416.4 Stockholder’s equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings 3,425.3 ​ (119.4) ​ 3,305.9 ​ 3,264.2 ​ (117.9) ​ 3,146.3 Total Company stockholder’s equity 4,803.4 ​ (119.4) ​ 4,684.0 ​ 4,667.3 ​ (117.9) ​ 4,549.4 Total stockholder’s equity 4,804.9 ​ (119.4) ​ 4,685.5 ​ 4,669.0 ​ (117.9) ​ 4,551.1 Total Liabilities and Stockholder’s Equity $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 44,012.9 ​ $ (45.4) ​ $ 43,967.5 ​ The prior period impacts to the Company’s statement of consolidated cash flows were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 348.1 ​ $ (9.2) ​ $ 338.9 Adjustments to reconcile net income to net cash ​ ​ ​ ​ ​ ​ ​ ​ provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ Credit for deferred income taxes ​ (25.8) ​ ​ (2.7) ​ ​ (28.5) Change in accounts payable and accrued expenses ​ (46.7) ​ ​ 9.5 ​ ​ (37.2) Other ​ (93.7) ​ ​ 2.4 ​ ​ (91.3) Net cash provided by operating activities $ 541.1 ​ $ ​ ​ $ 541.1 ​

Subsequent Events

Subsequent Events	6 Months Ended
	Apr. 30, 2023
Subsequent Events
Subsequent Events	​ (13)  Subsequent Events On May 22, 2023, the Company entered into a retail note securitization using its revolving warehouse facility that resulted in securitization borrowings of $589.1 million. ​ ​

Organization and Consolidation

Organization and Consolidation (Policies)	6 Months Ended
	Apr. 30, 2023
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 second quarter ends for fiscal years 2023 and 2022 were April 30, 2023 and May 1, 2022, respectively. Both second quarters contained 13 weeks, while both year-to-date periods contained 26 weeks. Unless otherwise stated, references to particular years, quarters, or months refer to the Company’s fiscal years generally ending in October and the associated periods in those fiscal years.
Financing Incentives	Financing Incentives The Company provides incentive funds to John Deere dealers that meet certain performance metrics, which include minimum finance volume and finance market share with the Company over a defined period. At the end of the qualification period, dealers are granted incentive funds, which can be used for certain predefined uses, including interest rate reductions on future loan and lease originations. In addition, certain dealers may elect to receive cash for a portion of their earned funds. The Company accrues for the incentive costs over the qualification period, which are reported as administrative and operating expenses in the consolidated income statements and accounts payable and accrued expenses in the consolidated balance sheets. The accrued liability is released as dealers utilize the funds.
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 Customer Receivables are 90 days delinquent, accrual of finance income and lease revenue is suspended, and accrued finance income and lease revenue previously recognized is reversed. Generally, when a wholesale receivable becomes 60 days delinquent, the Company determines whether the accrual of finance income on interest-bearing wholesale receivables should be suspended and whether accrued finance income previously recognized should be reversed. Finance income and lease revenue for non-performing Receivables is recognized on a cash basis. Accrual of finance income and lease revenue is resumed when the receivable becomes contractually current and collections are reasonably assured. Accrued finance income and lease revenue reversed on non-performing Receivables, and finance income and lease revenue recognized from cash payments on non-performing Receivables were as follows (in millions of dollars ): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ April 30 ​ May 1 ​ April 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Accrued finance income and lease revenue reversed ​ $ 5.1 ​ $ 3.0 ​ $ 7.9 ​ $ 6.8 Finance income and lease revenue recognized on cash payments ​ ​ 4.6 ​ ​ 3.9 ​ ​ 7.7 ​ ​ 7.0 ​ ​ 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 accounts are 120 days delinquent, the collateral is repossessed or the account is designated for litigation, and the estimated uncollectible amount from the customer is written off to the allowance for credit losses. Revolving charge accounts are generally deemed to be uncollectible and written off to the allowance for credit losses when delinquency reaches 120 days. Generally, when a wholesale account becomes 60 days delinquent, the Company determines whether the collateral should be repossessed or the account designated for litigation, and the estimated uncollectible amount is written off to the 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.
Troubled Debt Restructuring, Policy	A troubled debt restructuring is a significant 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.
Derivative Financial Instruments	The Company’s policy is to execute derivative transactions 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 the derivative 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)	6 Months Ended
	Apr. 30, 2023
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2022 Cumulative translation adjustment ​ $ (103.8) ​ $ (169.0) ​ $ (125.1) Unrealized gain on derivatives ​ ​ 33.8 ​ ​ 66.8 ​ ​ 47.5 Unrealized loss on debt securities ​ ​ (2.5) ​ ​ (2.5) ​ ​ (2.1) Total accumulated other comprehensive income (loss) ​ $ (72.5) ​ $ (104.7) ​ $ (79.7) ​
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 ​ ​ Amount ​ Credit ​ Amount Three Months Ended April 30, 2023 ​ ​ ​ ​ ​ ​ Cumulative translation adjustment $ (1.0) ​ ​ ​ ​ $ (1.0) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (3.7) ​ $ .8 ​ (2.9) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (19.9) ​ ​ 4.1 ​ ​ (15.8) ​ Net unrealized gain (loss) on derivatives ​ (23.6) ​ 4.9 ​ (18.7) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.7) ​ ​ .3 ​ ​ (.4) ​ Total other comprehensive income (loss) ​ $ (25.3) ​ $ 5.2 ​ $ (20.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended April 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 65.2 ​ ​ ​ ​ $ 65.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (5.6) ​ $ 1.2 ​ (4.4) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (36.2) ​ ​ 7.6 ​ ​ (28.6) ​ Net unrealized gain (loss) on derivatives ​ (41.8) ​ 8.8 ​ (33.0) ​ Total other comprehensive income (loss) ​ $ 23.4 ​ $ 8.8 ​ $ 32.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ Tax ​ After ​ ​ Tax ​ (Expense) ​ Tax ​ ​ Amount ​ Credit ​ Amount Three Months Ended May 1, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (34.2) ​ ​ ​ ​ $ (34.2) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 35.2 ​ $ (7.3) ​ 27.9 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (.2) ​ ​ ​ ​ (.2) ​ Net unrealized gain (loss) on derivatives ​ 35.0 ​ ​ (7.3) ​ 27.7 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ ​ ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ .6 ​ $ (7.3) ​ $ (6.7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended May 1, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (70.6) ​ ​ ​ ​ $ (70.6) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 50.6 ​ $ (10.6) ​ 40.0 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ .9 ​ ​ (.2) ​ .7 ​ Net unrealized gain (loss) on derivatives ​ 51.5 ​ (10.8) ​ 40.7 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.5) ​ ​ .1 ​ ​ (.4) ​ Total other comprehensive income (loss) ​ $ (19.6) ​ $ (10.7) ​ $ (30.3) ​

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Apr. 30, 2023
Receivables
Accrued finance income and lease revenue reversed on non-performing Receivables, and finance income and lease revenue recognized from cash payments on non-performing Receivables	Accrued finance income and lease revenue reversed on non-performing Receivables, and finance income and lease revenue recognized from cash payments on non-performing Receivables were as follows (in millions of dollars ): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ April 30 ​ May 1 ​ April 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Accrued finance income and lease revenue reversed ​ $ 5.1 ​ $ 3.0 ​ $ 7.9 ​ $ 6.8 Finance income and lease revenue recognized on cash payments ​ ​ 4.6 ​ ​ 3.9 ​ ​ 7.7 ​ ​ 7.0 ​
Analysis of the Allowance for Credit Losses and Investment in Receivables	An analysis of the allowance for credit losses and investment in Receivables during 2023 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ April 30, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 94.8 ​ $ 16.0 ​ $ 10.9 ​ $ 121.7 ​ Provision for credit losses* ​ 18.6 ​ ​ 8.2 ​ ​ .2 ​ ​ 27.0 ​ Write-offs ​ (14.3) ​ ​ (10.5) ​ ​ ​ ​ ​ (24.8) ​ Recoveries ​ 4.2 ​ ​ 5.6 ​ ​ ​ ​ ​ 9.8 ​ Translation adjustments ​ (.1) ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ End of period balance ​ $ 103.2 ​ $ 19.3 ​ $ 11.2 ​ $ 133.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ April 30, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 95.4 ​ $ 21.9 ​ $ 11.1 ​ $ 128.4 ​ Provision (credit) for credit losses* ​ 25.4 ​ ​ 4.5 ​ ​ (.3) ​ ​ 29.6 ​ Write-offs ​ (24.5) ​ ​ (18.0) ​ ​ (.1) ​ ​ (42.6) ​ Recoveries ​ 6.6 ​ ​ 10.9 ​ ​ .6 ​ ​ 18.1 ​ Translation adjustments ​ .3 ​ ​ ​ ​ ​ (.1) ​ ​ .2 ​ End of period balance ​ $ 103.2 ​ $ 19.3 ​ $ 11.2 ​ $ 133.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 30,503.7 ​ $ 3,699.4 ​ $ 12,880.4 ​ $ 47,083.5 ​ ​ * The allowance for credit losses increased in the second quarter and first six months of 2023, primarily driven by higher expected losses on turf and construction customer accounts, in addition to higher portfolio balances. The Company continues to monitor the economy as part of the allowance setting process, including potential impacts of inflation and interest rates, among other factors, and qualitative adjustments to the allowance are incorporated as necessary. An analysis of the allowance for credit losses and investment in Receivables during 2022 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ May 1, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 94.7 ​ $ 15.2 ​ $ 11.5 ​ $ 121.4 ​ Provision for credit losses* ​ 10.9 ​ ​ 2.5 ​ ​ .2 ​ ​ 13.6 ​ Write-offs ​ (13.3) ​ ​ (7.5) ​ ​ (.2) ​ ​ (21.0) ​ Recoveries ​ 3.7 ​ ​ 7.1 ​ ​ ​ ​ ​ 10.8 ​ Translation adjustments ​ (.1) ​ ​ .1 ​ ​ (.3) ​ ​ (.3) ​ End of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ May 1, 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* ​ 18.8 ​ ​ (6.9) ​ ​ .3 ​ ​ 12.2 ​ Write-offs ​ (25.8) ​ ​ (11.5) ​ ​ (.2) ​ ​ (37.5) ​ Recoveries ​ 6.6 ​ ​ 14.9 ​ ​ ​ ​ ​ 21.5 ​ Translation adjustments ​ (.2) ​ ​ .1 ​ ​ (.6) ​ ​ (.7) ​ End of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 27,139.8 ​ $ 3,425.0 ​ $ 7,346.4 ​ $ 37,911.2 ​ ​ *
Schedule of Troubled Debt Restructuring Modifications	The following table includes Receivable contracts identified as troubled debt restructurings, which were primarily retail notes (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ April 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ Number of receivable contracts ​ ​ 72 ​ ​ 139 Pre-modification balance ​ $ 1.5 ​ $ 5.8 ​ Post-modification balance ​ ​ 1.5 ​ ​ 4.7 ​ ​
Customer Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of Customer Receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 5,762.9 ​ $ 9,434.5 ​ $ 5,598.5 ​ $ 2,662.7 ​ $ 1,034.1 ​ $ 392.3 ​ $ 3,539.3 ​ $ 28,424.3 30-59 days past due ​ ​ 8.6 ​ ​ 48.8 ​ ​ 50.1 ​ ​ 29.1 ​ ​ 16.5 ​ ​ 7.8 ​ ​ 14.2 ​ ​ 175.1 60-89 days past due ​ ​ 1.1 ​ ​ 9.8 ​ ​ 20.1 ​ ​ 16.9 ​ ​ 3.1 ​ ​ 1.9 ​ ​ 7.7 ​ ​ 60.6 90+ days past due ​ ​ ​ ​ ​ .2 ​ ​ .4 ​ ​ .1 ​ ​ .1 ​ ​ .1 ​ ​ ​ ​ ​ .9 Non-performing ​ ​ 5.4 ​ ​ 45.2 ​ ​ 37.0 ​ ​ 25.5 ​ ​ 14.0 ​ ​ 16.0 ​ ​ 24.9 ​ ​ 168.0 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,168.7 ​ ​ 1,954.1 ​ ​ 1,179.4 ​ ​ 440.4 ​ ​ 132.8 ​ ​ 49.4 ​ ​ 106.6 ​ ​ 5,031.4 30-59 days past due ​ ​ 5.6 ​ ​ 30.5 ​ ​ 23.9 ​ ​ 22.9 ​ ​ 20.8 ​ ​ 9.5 ​ ​ 3.7 ​ ​ 116.9 60-89 days past due ​ ​ .2 ​ ​ 5.5 ​ ​ 13.2 ​ ​ 10.9 ​ ​ 13.5 ​ ​ 11.7 ​ ​ 1.8 ​ ​ 56.8 90+ days past due ​ ​ ​ ​ ​ 1.3 ​ ​ ​ ​ ​ .1 ​ ​ 1.3 ​ ​ ​ ​ ​ ​ ​ ​ 2.7 Non-performing ​ ​ 4.4 ​ ​ 59.9 ​ ​ 56.1 ​ ​ 29.4 ​ ​ 9.6 ​ ​ 5.8 ​ ​ 1.2 ​ ​ 166.4 Total ​ $ 6,956.9 ​ $ 11,589.8 ​ $ 6,978.7 ​ $ 3,238.0 ​ $ 1,245.8 ​ $ 494.5 ​ $ 3,699.4 ​ $ 34,203.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 11,736.1 ​ $ 6,939.9 ​ $ 3,479.6 ​ $ 1,515.8 ​ $ 581.3 ​ $ 152.9 ​ $ 4,022.7 ​ $ 28,428.3 30-59 days past due ​ ​ 40.1 ​ ​ 55.8 ​ ​ 31.4 ​ ​ 15.0 ​ ​ 6.4 ​ ​ 2.7 ​ ​ 18.4 ​ ​ 169.8 60-89 days past due ​ ​ 11.8 ​ ​ 19.5 ​ ​ 10.8 ​ ​ 4.4 ​ ​ 2.0 ​ ​ 1.1 ​ ​ 4.5 ​ ​ 54.1 90+ days past due ​ ​ .4 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .8 Non-performing ​ ​ 24.7 ​ ​ 38.4 ​ ​ 29.2 ​ ​ 13.7 ​ ​ 11.2 ​ ​ 10.2 ​ ​ 7.8 ​ ​ 135.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,373.7 ​ ​ 1,526.3 ​ ​ 658.1 ​ ​ 230.7 ​ ​ 57.2 ​ ​ 10.5 ​ ​ 107.7 ​ ​ 4,964.2 30-59 days past due ​ ​ 44.5 ​ ​ 40.6 ​ ​ 20.7 ​ ​ 7.6 ​ ​ 1.8 ​ ​ .6 ​ ​ 3.1 ​ ​ 118.9 60-89 days past due ​ ​ 18.1 ​ ​ 11.4 ​ ​ 6.0 ​ ​ 3.0 ​ ​ .7 ​ ​ .1 ​ ​ 1.0 ​ ​ 40.3 90+ days past due ​ ​ .3 ​ ​ 1.3 ​ ​ ​ ​ ​ 1.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 Non-performing ​ ​ 19.3 ​ ​ 51.2 ​ ​ 27.6 ​ ​ 15.4 ​ ​ 5.5 ​ ​ 2.9 ​ ​ .6 ​ ​ 122.5 Total ​ $ 14,269.0 ​ $ 8,684.6 ​ $ 4,263.6 ​ $ 1,807.0 ​ $ 666.1 ​ $ 181.0 ​ $ 4,165.8 ​ $ 34,037.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 5,084.4 ​ $ 8,914.4 ​ $ 4,483.0 ​ $ 2,103.9 ​ $ 923.3 ​ $ 369.7 ​ $ 3,299.5 ​ $ 25,178.2 30-59 days past due ​ ​ 18.0 ​ ​ 66.3 ​ ​ 31.6 ​ ​ 16.9 ​ ​ 7.6 ​ ​ 4.0 ​ ​ 11.0 ​ ​ 155.4 60-89 days past due ​ ​ 3.7 ​ ​ 20.7 ​ ​ 9.7 ​ ​ 5.4 ​ ​ 3.7 ​ ​ 1.8 ​ ​ 4.1 ​ ​ 49.1 90+ days past due ​ ​ ​ ​ ​ .3 ​ ​ .6 ​ ​ ​ ​ ​ .2 ​ ​ .1 ​ ​ ​ ​ ​ 1.2 Non-performing ​ ​ 3.5 ​ ​ 32.2 ​ ​ 30.9 ​ ​ 19.1 ​ ​ 15.4 ​ ​ 14.9 ​ ​ 14.9 ​ ​ 130.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,326.9 ​ ​ 1,929.9 ​ ​ 902.5 ​ ​ 380.7 ​ ​ 116.3 ​ ​ 26.8 ​ ​ 91.1 ​ ​ 4,774.2 30-59 days past due ​ ​ 15.6 ​ ​ 43.0 ​ ​ 28.7 ​ ​ 11.0 ​ ​ 3.5 ​ ​ 1.4 ​ ​ 3.1 ​ ​ 106.3 60-89 days past due ​ ​ 6.2 ​ ​ 19.3 ​ ​ 12.1 ​ ​ 4.9 ​ ​ 1.4 ​ ​ .3 ​ ​ .7 ​ ​ 44.9 90+ days past due ​ ​ .2 ​ ​ ​ ​ ​ .6 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.2 Non-performing ​ ​ 2.7 ​ ​ 37.6 ​ ​ 43.8 ​ ​ 24.5 ​ ​ 9.6 ​ ​ 4.6 ​ ​ .6 ​ ​ 123.4 Total ​ $ 6,461.2 ​ $ 11,063.7 ​ $ 5,543.5 ​ $ 2,566.8 ​ $ 1,081.0 ​ $ 423.6 ​ $ 3,425.0 ​ $ 30,564.8 ​
Wholesale Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of wholesale receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 258.8 ​ $ 196.6 ​ $ 34.3 ​ $ 14.7 ​ $ 2.0 ​ $ 1.1 ​ $ 9,844.4 ​ $ 10,351.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ 6.7 ​ ​ 6.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.0 ​ ​ 6.0 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 9.1 ​ ​ 3.5 ​ ​ 22.9 ​ ​ .6 ​ ​ .2 ​ ​ .1 ​ ​ 2,470.2 ​ ​ 2,506.6 30+ days past due ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.0 ​ ​ 9.1 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 268.0 ​ $ 200.1 ​ $ 57.2 ​ $ 15.3 ​ $ 2.3 ​ $ 1.2 ​ $ 12,336.3 ​ $ 12,880.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 381.3 ​ $ 62.7 ​ $ 25.0 ​ $ 3.8 ​ $ .3 ​ $ 1.1 ​ $ 6,238.1 ​ $ 6,712.3 30+ days past due ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8.3 ​ ​ 8.4 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.5 ​ ​ 5.5 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 4.8 ​ ​ 28.2 ​ ​ 1.4 ​ ​ .4 ​ ​ .1 ​ ​ ​ ​ ​ 1,633.8 ​ ​ 1,668.7 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.6 ​ ​ 9.6 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 386.1 ​ $ 91.0 ​ $ 26.4 ​ $ 4.2 ​ $ .4 ​ $ 1.1 ​ $ 7,895.3 ​ $ 8,404.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 223.2 ​ $ 149.8 ​ $ 41.4 ​ $ 7.8 ​ $ 1.2 ​ $ 1.8 ​ $ 5,548.6 ​ $ 5,973.8 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 18.5 ​ ​ 18.5 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.9 ​ ​ 5.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 3.7 ​ ​ 33.0 ​ ​ 1.9 ​ ​ 1.7 ​ ​ .2 ​ ​ ​ ​ ​ 1,304.4 ​ ​ 1,344.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.3 ​ ​ 3.3 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 226.9 ​ $ 182.8 ​ $ 43.3 ​ $ 9.5 ​ $ 1.4 ​ $ 1.8 ​ $ 6,880.7 ​ $ 7,346.4 ​

Securitization of Receivables (

Securitization of Receivables (Tables)	6 Months Ended
	Apr. 30, 2023
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2022 Retail notes securitized ​ $ 5,674.0 ​ $ 5,951.6 ​ $ 4,079.2 ​ Allowance for credit losses ​ (15.6) ​ (15.7) ​ (12.2) ​ Other assets (primarily restricted cash) ​ 115.3 ​ 155.2 ​ 124.0 ​ Total restricted securitized assets ​ $ 5,773.7 ​ $ 6,091.1 ​ $ 4,191.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 5,379.2 ​ $ 5,710.9 ​ $ 4,000.9 ​ Accrued interest on borrowings ​ 8.3 ​ 6.1 ​ 2.1 ​ Total liabilities related to restricted securitized assets ​ $ 5,387.5 ​ $ 5,717.0 ​ $ 4,003.0 ​

Leases (Tables)

Leases (Tables)	6 Months Ended
	Apr. 30, 2023
Leases
Schedule of Lease Revenues Earned	Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ April 30 ​ May 1 ​ April 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 Sales-type and direct financing lease revenues ​ $ 19.6 ​ $ 12.5 ​ $ 38.4 ​ $ 25.5 Operating lease revenues ​ ​ 216.8 ​ ​ 220.3 ​ ​ 435.7 ​ ​ 445.0 Variable lease revenues ​ 4.6 ​ 5.8 ​ 10.2 ​ 12.0 Total lease revenues ​ $ 241.0 ​ $ 238.6 ​ $ 484.3 ​ $ 482.5 ​ 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 and were $.4 million and $1.2 million for the second quarter and first six months ended April 30, 2023, respectively, compared with $.6 million and $1.4 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ 2023 ​ 2022 ​ 2022 Agriculture and turf ​ $ 4,921.6 ​ $ 5,017.3 ​ $ 4,846.7 Construction and forestry ​ ​ 1,067.9 ​ 1,138.0 ​ ​ 1,222.9 Total ​ ​ 5,989.5 ​ ​ 6,155.3 ​ ​ 6,069.6 Accumulated depreciation ​ (1,265.3) ​ ​ (1,301.8) ​ ​ (1,360.9) Equipment on operating leases – net ​ $ 4,724.2 ​ $ 4,853.5 ​ $ 4,708.7 ​

Notes Receivable from and Pay_2

Notes Receivable from and Payable to John Deere (Tables)	6 Months Ended
	Apr. 30, 2023
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Banco John Deere S.A. ​ $ 545.6 ​ $ 370.0 ​ $ 171.8 ​ John Deere Agricultural Holdings, Inc. ​ ​ ​ ​ .7 ​ ​ 39.7 ​ Total Notes Receivable from John Deere ​ $ 545.6 ​ $ 370.7 ​ $ 211.5 ​ ​

Long-Term External Borrowings (

Long-Term External Borrowings (Tables)	6 Months Ended
	Apr. 30, 2023
Long-Term External Borrowings
Long-Term Borrowings	Long-term external borrowings of the Company at April 30, 2023, October 30, 2022, and May 1, 2022 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 ​ October 30 ​ May 1 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 24,977.3 ​ $ 22,595.4 ​ $ 20,445.0 ​ Other notes ​ ​ .3 ​ ​ 2.5 ​ ​ 5.4 ​ Total senior debt ​ ​ 24,977.6 ​ ​ 22,597.9 ​ ​ 20,450.4 ​ Unamortized debt discount and debt issuance costs ​ ​ (70.8) ​ ​ (70.1) ​ ​ (59.1) ​ Total ​ $ 24,906.8 ​ $ 22,527.8 ​ $ 20,391.3 ​ ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Apr. 30, 2023
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ October 30, 2022 ​ May 1, 2022 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 41,291.4 ​ $ 40,883.5 ​ $ 36,377.3 ​ $ 35,562.4 ​ $ 33,719.7 ​ $ 33,365.3 ​ Retail notes securitized – net ​ 5,658.4 ​ 5,493.8 ​ 5,935.9 ​ ​ 5,696.3 ​ 4,067.0 ​ 4,010.7 ​ Securitization borrowings ​ 5,379.2 ​ 5,271.2 ​ 5,710.9 ​ ​ 5,576.6 ​ 4,000.9 ​ 3,937.7 ​ Current maturities of long- ​ 5,186.3 ​ ​ 5,078.3 ​ 5,989.6 ​ ​ 5,887.7 ​ 6,153.7 ​ 6,127.1 ​ Long-term external ​ 24,906.8 ​ 24,658.8 ​ 22,527.8 ​ ​ 21,792.7 ​ 20,391.3 ​ 20,035.4 ​ ​ 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 October 30 May 1 ​ ​ 2023 ​ 2022 ​ 2022 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.2 ​ $ 1.1 ​ $ 1.6 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 188.5 ​ ​ 214.8 ​ ​ 149.0 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 12.4 ​ 1.3 ​ 39.7 ​ Total assets ​ $ 202.1 ​ $ 217.2 ​ $ 190.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 610.2 ​ $ 1,024.2 ​ $ 599.4 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 1.8 ​ 14.1 ​ .2 ​ Total liabilities ​ $ 612.0 ​ $ 1,038.3 ​ $ 599.6 ​ 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)	6 Months Ended
	Apr. 30, 2023
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 Relationships ​ ​ ​ Carrying ​ Cumulative ​ Carrying Amount ​ Cumulative ​ ​ ​ Amount of ​ Fair Value ​ of Formerly ​ Fair Value ​ April 30, 2023 ​ Hedged Item ​ Hedging Adjustment ​ Hedged Item ​ Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,213.3 ​ $ 13.9 ​ Long-term external borrowings ​ $ 9,719.4 ​ $ (515.9) ​ ​ 5,656.7 ​ ​ (131.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 2,514.9 ​ $ 15.5 ​ Long-term external borrowings ​ $ 8,453.6 ​ $ (950.1) ​ ​ 5,519.6 ​ ​ (19.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ 177.8 ​ $ .6 ​ $ 2,606.6 ​ $ 7.4 ​ Long-term external borrowings ​ ​ 7,174.6 ​ ​ (564.5) ​ ​ 5,120.0 ​ ​ 105.5 ​ ​
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30 October 30 May 1 ​ ​ 2023 ​ 2022 ​ 2022 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 104.1 ​ $ 87.5 ​ $ 62.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 83.0 ​ 124.5 ​ 81.5 ​ Cross-currency interest rate contracts ​ 1.4 ​ 2.8 ​ 5.0 ​ Total not designated ​ 84.4 ​ 127.3 ​ 86.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 12.4 ​ 1.3 ​ 39.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 200.9 ​ $ 216.1 ​ $ 188.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 564.0 ​ $ 947.9 ​ $ 545.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 32.6 ​ 74.2 ​ 54.0 ​ Cross-currency interest rate contracts ​ ​ 13.6 ​ ​ 2.1 ​ .2 ​ Total not designated ​ 46.2 ​ 76.3 ​ 54.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency exchange contracts ​ 1.8 ​ 14.1 ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 612.0 ​ $ 1,038.3 ​ $ 599.6 ​ ​
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 ​ Six Months Ended ​ ​ April 30 ​ May 1 ​ April 30 ​ May 1 ​ 2023 2022 2023 2022 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ (3.9) ​ $ (489.5) ​ $ 231.4 ​ $ (629.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) $ (3.7) ​ $ 35.2 ​ $ (5.6) ​ $ 50.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense 19.9 ​ .2 ​ 36.2 ​ (.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ 4.3 ​ $ 46.5 ​ $ 2.4 ​ $ 43.2 ​ Foreign currency exchange contracts - Administrative and operating expenses * 75.3 ​ (3.4) ​ ​ (59.8) ​ ​ 64.4 ​ Total not designated ​ $ 79.6 ​ $ 43.1 ​ $ (57.4) ​ $ 107.6 ​ * 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 12.4 ​ $ (1.5) ​ ​ ​ ​ $ 10.9 ​ John Deere ​ 188.5 ​ ​ (147.0) ​ ​ ​ ​ 41.5 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 1.8 ​ (1.5) ​ ​ ​ ​ .3 ​ John Deere ​ 610.2 ​ (147.0) ​ ​ ​ 463.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 1.3 ​ $ (1.1) ​ ​ ​ ​ $ .2 ​ John Deere ​ 214.8 ​ (128.3) ​ ​ ​ 86.5 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 14.1 ​ (1.1) ​ ​ ​ 13.0 ​ John Deere ​ 1,024.2 ​ (128.3) ​ ​ ​ 895.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 39.7 ​ $ (.2) ​ ​ ​ ​ $ 39.5 ​ John Deere ​ 149.0 ​ ​ (82.8) ​ ​ ​ ​ 66.2 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .2 ​ (.2) ​ ​ ​ ​ ​ ​ John Deere ​ 599.4 ​ (82.8) ​ ​ ​ 516.6 ​

Immaterial Restatement of Pri_2

Immaterial Restatement of Prior Period Financial Statements (Tables)	6 Months Ended
	Apr. 30, 2023
Immaterial Restatement of Prior Period Financial Statements
Prior Period Impacts to the Company's Financial Statements	The prior period impacts to the Company’s statements of consolidated income and the related impacts to the statements of consolidated comprehensive income were as shown below (in millions of dollars). In addition, the Company's net income for the three months ended January 29, 2023 decreased $9.5 million from $147.1 million to $137.6 million. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended May 1, 2022 ​ Six Months Ended May 1, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income earned on retail notes $ 242.8 ​ $ 9.1 ​ $ 251.9 ​ $ 482.8 ​ $ 18.0 ​ $ 500.8 Lease revenues ​ 236.5 ​ ​ 1.5 ​ ​ 238.0 ​ ​ 478.0 ​ ​ 3.1 ​ ​ 481.1 Total revenues ​ 651.4 ​ ​ 10.6 ​ ​ 662.0 ​ ​ 1,294.3 ​ ​ 21.1 ​ ​ 1,315.4 Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ 115.2 ​ ​ 13.0 ​ ​ 128.2 ​ ​ 211.6 ​ ​ 33.0 ​ ​ 244.6 Total operating expenses ​ 393.8 ​ ​ 13.0 ​ ​ 406.8 ​ ​ 697.5 ​ ​ 33.0 ​ ​ 730.5 Total expenses ​ 449.5 ​ ​ 13.0 ​ ​ 462.5 ​ ​ 852.7 ​ ​ 33.0 ​ ​ 885.7 Income of consolidated group before income taxes ​ 201.9 ​ ​ (2.4) ​ ​ 199.5 ​ ​ 441.6 ​ ​ (11.9) ​ ​ 429.7 Provision for income taxes ​ 44.5 ​ ​ (.6) ​ ​ 43.9 ​ ​ 96.5 ​ ​ (2.7) ​ ​ 93.8 Income of consolidated group ​ 157.4 ​ ​ (1.8) ​ ​ 155.6 ​ ​ 345.1 ​ ​ (9.2) ​ ​ 335.9 Net income ​ 158.5 ​ ​ (1.8) ​ ​ 156.7 ​ ​ 348.1 ​ ​ (9.2) ​ ​ 338.9 Net income attributable to the Company $ 158.6 ​ $ (1.8) ​ $ 156.8 ​ $ 348.2 ​ $ (9.2) ​ $ 339.0 ​ The prior period impacts to the Company’s consolidated balance sheets and the related components of stockholder’s equity were as shown below (in millions of dollars). In addition, beginning retained earnings for the year ended October 30, 2022 decreased $108.7 million from $3,091.0 million to $2,982.3 million. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ May 1, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes $ 22,860.3 ​ $ (61.3) ​ $ 22,799.0 ​ $ 22,211.4 ​ $ (47.3) ​ $ 22,164.1 Total receivables 42,502.9 ​ (61.3) ​ 42,441.6 ​ 37,958.5 ​ (47.3) ​ 37,911.2 Total receivables – net 42,374.5 ​ (61.3) ​ 42,313.2 ​ 37,834.0 ​ (47.3) ​ 37,786.7 Deferred income taxes 23.3 ​ 2.2 ​ 25.5 ​ 29.6 ​ 1.9 ​ 31.5 Total Assets $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 44,012.9 ​ $ (45.4) ​ $ 43,967.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholder’s Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses $ 866.1 ​ $ 91.2 ​ $ 957.3 ​ $ 817.0 ​ $ 103.1 ​ $ 920.1 Deferred income taxes 239.4 ​ (30.9) ​ 208.5 ​ 246.8 ​ (30.6) ​ 216.2 Total liabilities 44,123.1 ​ 60.3 ​ 44,183.4 ​ 39,343.9 ​ 72.5 ​ 39,416.4 Stockholder’s equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings 3,425.3 ​ (119.4) ​ 3,305.9 ​ 3,264.2 ​ (117.9) ​ 3,146.3 Total Company stockholder’s equity 4,803.4 ​ (119.4) ​ 4,684.0 ​ 4,667.3 ​ (117.9) ​ 4,549.4 Total stockholder’s equity 4,804.9 ​ (119.4) ​ 4,685.5 ​ 4,669.0 ​ (117.9) ​ 4,551.1 Total Liabilities and Stockholder’s Equity $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 44,012.9 ​ $ (45.4) ​ $ 43,967.5 ​ The prior period impacts to the Company’s statement of consolidated cash flows were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2022 ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 348.1 ​ $ (9.2) ​ $ 338.9 Adjustments to reconcile net income to net cash ​ ​ ​ ​ ​ ​ ​ ​ provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ Credit for deferred income taxes ​ (25.8) ​ ​ (2.7) ​ ​ (28.5) Change in accounts payable and accrued expenses ​ (46.7) ​ ​ 9.5 ​ ​ (37.2) Other ​ (93.7) ​ ​ 2.4 ​ ​ (91.3) Net cash provided by operating activities $ 541.1 ​ $ ​ ​ $ 541.1

Organization and Consolidatio_2

Organization and Consolidation (Details)	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Fiscal Year
Fiscal period duration	91 days	91 days	182 days	182 days

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and New Accounting Standards (Details)	Apr. 30, 2023
ASU 2022-02
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false

Other Comprehensive Income It_3

Other Comprehensive Income Items - After-Tax Components (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 5,793.8	$ 4,684	$ 4,549.4
Accumulated Other Comprehensive Income (Loss)
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(72.5)	(104.7)	(79.7)
Cumulative Translation Adjustment
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(103.8)	(169)	(125.1)
Unrealized Gain (Loss) on Derivatives
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	33.8	66.8	47.5
Unrealized Gain (Loss) on Debt Securities
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (2.5)	$ (2.5)	$ (2.1)

Other Comprehensive Income It_4

Other Comprehensive Income Items - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Other comprehensive income (loss), before tax
Interest expense	$ (375.3)	$ (55.7)	$ (676.3)	$ (155.2)
Total other comprehensive income (loss), before tax	(25.3)	0.6	23.4	(19.6)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	5.2	(7.3)	8.8	(10.7)
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	(20.1)	(6.7)	32.2	(30.3)
Cumulative Translation Adjustment
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	(1)	(34.2)	65.2	(70.6)
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	(1)	(34.2)	65.2	(70.6)
Unrealized Gain (Loss) on Derivatives
Other comprehensive income (loss), before tax
Other comprehensive income (loss) before reclassification, before tax	(3.7)	35.2	(5.6)	50.6
Total other comprehensive income (loss), before tax	(23.6)	35	(41.8)	51.5
Other comprehensive income (loss), tax (expense) credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	0.8	(7.3)	1.2	(10.6)
Total other comprehensive income (loss), tax (expense) credit	4.9	(7.3)	8.8	(10.8)
Other comprehensive income (loss), after tax
Other comprehensive income (loss) before reclassification, after tax	(2.9)	27.9	(4.4)	40
Other comprehensive income (loss), net of income taxes	(18.7)	27.7	(33)	40.7
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	(19.9)	(0.2)	(36.2)	0.9
Other comprehensive income (loss), tax (expense) credit
Reclassification of realized (gain) loss, tax expense (credit)	4.1		7.6	(0.2)
Other comprehensive income (loss), after tax
Reclassification of realized (gain) loss, after tax	(15.8)	(0.2)	$ (28.6)	0.7
Unrealized Gain (Loss) on Debt Securities
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	(0.7)	(0.2)		(0.5)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	0.3			0.1
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	$ (0.4)	$ (0.2)		$ (0.4)

Receivables - Financing Receiva

Receivables - Financing Receivables Past Due (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
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	$ 5.1	$ 3	$ 7.9	$ 6.8
Finance income and lease revenue recognized on cash payments	$ 4.6	$ 3.9	$ 7.7	$ 7
Customer Receivables
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

Receivables - Customer Receivab

Receivables - Customer Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Allowance for Credit Losses and Credit Quality of Receivables
Total	$ 47,083.5	$ 42,441.6	$ 37,911.2
Customer Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	6,956.9	14,269	6,461.2
2022 and 2021, respectively	11,589.8	8,684.6	11,063.7
2021 and 2020, respectively	6,978.7	4,263.6	5,543.5
2020 and 2019, respectively	3,238	1,807	2,566.8
2019 and 2018, respectively	1,245.8	666.1	1,081
Prior years	494.5	181	423.6
Revolving	3,699.4	4,165.8	3,425
Total	34,203.1	34,037.1	30,564.8
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	8.6	40.1	18
2022 and 2021, respectively	48.8	55.8	66.3
2021 and 2020, respectively	50.1	31.4	31.6
2020 and 2019, respectively	29.1	15	16.9
2019 and 2018, respectively	16.5	6.4	7.6
Prior years	7.8	2.7	4
Revolving	14.2	18.4	11
Total	175.1	169.8	155.4
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	1.1	11.8	3.7
2022 and 2021, respectively	9.8	19.5	20.7
2021 and 2020, respectively	20.1	10.8	9.7
2020 and 2019, respectively	16.9	4.4	5.4
2019 and 2018, respectively	3.1	2	3.7
Prior years	1.9	1.1	1.8
Revolving	7.7	4.5	4.1
Total	60.6	54.1	49.1
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively		0.4
2022 and 2021, respectively	0.2	0.2	0.3
2021 and 2020, respectively	0.4	0.2	0.6
2020 and 2019, respectively	0.1
2019 and 2018, respectively	0.1		0.2
Prior years	0.1		0.1
Total	0.9	0.8	1.2
Customer Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	5,762.9	11,736.1	5,084.4
2022 and 2021, respectively	9,434.5	6,939.9	8,914.4
2021 and 2020, respectively	5,598.5	3,479.6	4,483
2020 and 2019, respectively	2,662.7	1,515.8	2,103.9
2019 and 2018, respectively	1,034.1	581.3	923.3
Prior years	392.3	152.9	369.7
Revolving	3,539.3	4,022.7	3,299.5
Total	28,424.3	28,428.3	25,178.2
Customer Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	5.4	24.7	3.5
2022 and 2021, respectively	45.2	38.4	32.2
2021 and 2020, respectively	37	29.2	30.9
2020 and 2019, respectively	25.5	13.7	19.1
2019 and 2018, respectively	14	11.2	15.4
Prior years	16	10.2	14.9
Revolving	24.9	7.8	14.9
Total	168	135.2	130.9
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	5.6	44.5	15.6
2022 and 2021, respectively	30.5	40.6	43
2021 and 2020, respectively	23.9	20.7	28.7
2020 and 2019, respectively	22.9	7.6	11
2019 and 2018, respectively	20.8	1.8	3.5
Prior years	9.5	0.6	1.4
Revolving	3.7	3.1	3.1
Total	116.9	118.9	106.3
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	0.2	18.1	6.2
2022 and 2021, respectively	5.5	11.4	19.3
2021 and 2020, respectively	13.2	6	12.1
2020 and 2019, respectively	10.9	3	4.9
2019 and 2018, respectively	13.5	0.7	1.4
Prior years	11.7	0.1	0.3
Revolving	1.8	1	0.7
Total	56.8	40.3	44.9
Customer Receivables | Construction and forestry | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively		0.3	0.2
2022 and 2021, respectively	1.3	1.3
2021 and 2020, respectively			0.6
2020 and 2019, respectively	0.1	1.4	0.4
2019 and 2018, respectively	1.3
Total	2.7	3	1.2
Customer Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	1,168.7	2,373.7	1,326.9
2022 and 2021, respectively	1,954.1	1,526.3	1,929.9
2021 and 2020, respectively	1,179.4	658.1	902.5
2020 and 2019, respectively	440.4	230.7	380.7
2019 and 2018, respectively	132.8	57.2	116.3
Prior years	49.4	10.5	26.8
Revolving	106.6	107.7	91.1
Total	5,031.4	4,964.2	4,774.2
Customer Receivables | Construction and forestry | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	4.4	19.3	2.7
2022 and 2021, respectively	59.9	51.2	37.6
2021 and 2020, respectively	56.1	27.6	43.8
2020 and 2019, respectively	29.4	15.4	24.5
2019 and 2018, respectively	9.6	5.5	9.6
Prior years	5.8	2.9	4.6
Revolving	1.2	0.6	0.6
Total	$ 166.4	$ 122.5	$ 123.4

Receivables - Wholesale Receiva

Receivables - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Allowance for Credit Losses and Credit Quality of Receivables
Total	$ 47,083.5	$ 42,441.6	$ 37,911.2
Wholesale Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	268	386.1	226.9
2022 and 2021, respectively	200.1	91	182.8
2021 and 2020, respectively	57.2	26.4	43.3
2020 and 2019, respectively	15.3	4.2	9.5
2019 and 2018, respectively	2.3	0.4	1.4
Prior years	1.2	1.1	1.8
Revolving	12,336.3	7,895.3	6,880.7
Total	12,880.4	8,404.5	7,346.4
Wholesale Receivables | Agriculture and turf | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively		0.1
2019 and 2018, respectively	0.1
Revolving	6.7	8.3	18.5
Total	6.8	8.4	18.5
Wholesale Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	258.8	381.3	223.2
2022 and 2021, respectively	196.6	62.7	149.8
2021 and 2020, respectively	34.3	25	41.4
2020 and 2019, respectively	14.7	3.8	7.8
2019 and 2018, respectively	2	0.3	1.2
Prior years	1.1	1.1	1.8
Revolving	9,844.4	6,238.1	5,548.6
Total	10,351.9	6,712.3	5,973.8
Wholesale Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	6	5.5	5.9
Total	6	5.5	5.9
Wholesale Receivables | Construction and forestry | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	0.1
Revolving	9	9.6	3.3
Total	9.1	9.6	3.3
Wholesale Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	9.1	4.8	3.7
2022 and 2021, respectively	3.5	28.2	33
2021 and 2020, respectively	22.9	1.4	1.9
2020 and 2019, respectively	0.6	0.4	1.7
2019 and 2018, respectively	0.2	0.1	0.2
Prior years	0.1
Revolving	2,470.2	1,633.8	1,304.4
Total	$ 2,506.6	$ 1,668.7	$ 1,344.9

Receivables - Allowance for Cre

Receivables - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022	Oct. 30, 2022
Receivable, Allowance for Credit Losses
Recoveries from freestanding credit enhancements	$ 3.9	$ 1.9	$ 5.8	$ 3.1
Allowance:
Beginning of period balance	121.7	121.4	128.4	129
Provision (credit) for credit losses	27	13.6	29.6	12.2
Write-offs	(24.8)	(21)	(42.6)	(37.5)
Recoveries	9.8	10.8	18.1	21.5
Translation adjustments		(0.3)	0.2	(0.7)
End of period year balance	133.7	124.5	133.7	124.5
Receivables:
End of period balance	47,083.5	37,911.2	47,083.5	37,911.2	$ 42,441.6
Unfunded Commitments
Allowance:
Provision (credit) for credit losses	(0.3)	(0.4)	0.6	(0.2)
Customer Receivables
Receivables:
End of period balance	34,203.1	30,564.8	34,203.1	30,564.8	34,037.1
Retail Notes and Financing Leases
Allowance:
Beginning of period balance	94.8	94.7	95.4	96.5
Provision (credit) for credit losses	18.6	10.9	25.4	18.8
Write-offs	(14.3)	(13.3)	(24.5)	(25.8)
Recoveries	4.2	3.7	6.6	6.6
Translation adjustments	(0.1)	(0.1)	0.3	(0.2)
End of period year balance	103.2	95.9	103.2	95.9
Receivables:
End of period balance	30,503.7	27,139.8	30,503.7	27,139.8
Revolving charge accounts
Allowance:
Beginning of period balance	16	15.2	21.9	20.8
Provision (credit) for credit losses	8.2	2.5	4.5	(6.9)
Write-offs	(10.5)	(7.5)	(18)	(11.5)
Recoveries	5.6	7.1	10.9	14.9
Translation adjustments		0.1		0.1
End of period year balance	19.3	17.4	19.3	17.4
Receivables:
End of period balance	3,699.4	3,425	3,699.4	3,425	4,165.8
Wholesale Receivables
Allowance:
Beginning of period balance	10.9	11.5	11.1	11.7
Provision (credit) for credit losses	0.2	0.2	(0.3)	0.3
Write-offs		(0.2)	(0.1)	(0.2)
Recoveries			0.6
Translation adjustments	0.1	(0.3)	(0.1)	(0.6)
End of period year balance	11.2	11.2	11.2	11.2
Receivables:
End of period balance	$ 12,880.4	$ 7,346.4	$ 12,880.4	$ 7,346.4	$ 8,404.5

Receivables - Troubled Debt Res

Receivables - Troubled Debt Restructurings (Details) $ in Millions	6 Months Ended
	Apr. 30, 2023 USD ($) item	May 01, 2022 USD ($) item
Receivables Related to Troubled Debt Restructurings
Number of receivable contracts | item	72	139
Pre-modification balance	$ 1.5	$ 5.8
Post-modification balance	1.5	4.7
Receivable contracts in troubled debt restructuring, subsequently defaulted	0	$ 0
Commitments to lend additional funds to customers whose accounts were modified in troubled debt restructurings	$ 0

Securitization of Receivables_2

Securitization of Receivables (Details) - USD ($) $ in Millions	May 22, 2023	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Securitization of Receivables
Total receivables		$ 47,083.5	$ 42,441.6	$ 37,911.2
Other assets		335	314.3	342.8
Securitization borrowings		5,379.2	5,710.9	4,000.9
Accrued interest on borrowings - securitization transactions		8.3	6.1	2.1
Total liabilities related to restricted securitized assets		5,387.5	5,717	4,003
Subsequent Event | Short-term Securitization Borrowings
Securitization of Receivables
Securitization borrowings	$ 589.1
Securitized
Securitization of Receivables
Other assets		115.3	155.2	124
Total Assets		5,773.7	6,091.1	4,191
Retail notes | Securitized
Securitization of Receivables
Total receivables		$ 5,674	$ 5,951.6	$ 4,079.2
Location of liability for pledged asset		Securitization borrowings	Securitization borrowings	Securitization borrowings
Allowance for credit losses		$ (15.6)	$ (15.7)	$ (12.2)

Leases - Lease Revenues (Detail

Leases - Lease Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Lessor
Sales-type and direct finance lease revenues	$ 19.6	$ 12.5	$ 38.4	$ 25.5
Operating lease revenues	216.8	220.3	435.7	445
Variable lease revenues	4.6	5.8	10.2	12
Total lease revenues	241	238.6	484.3	482.5
Excess use and damage fees	$ 0.4	$ 0.6	$ 1.2	$ 1.4

Leases - Cost of Equipment on O

Leases - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 5,989.5	$ 6,155.3	$ 6,069.6
Accumulated depreciation	(1,265.3)	(1,301.8)	(1,360.9)
Equipment on operating leases - net	4,724.2	4,853.5	4,708.7
Operating lease residual value	3,277	3,366.7	3,335
Operating lease residual value guarantees	501.3	440.7	348.4
Matured operating lease inventory	16.3	10.8	9.1
Agriculture and turf equipment
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	4,921.6	5,017.3	4,846.7
Construction and forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 1,067.9	$ 1,138	$ 1,222.9

Notes Receivable from and Pay_3

Notes Receivable from and Payable to John Deere (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022	Oct. 30, 2022
Notes Receivable from and Payable to John Deere
Notes payable to John Deere	$ 4,810.4	$ 5,276.4	$ 4,810.4	$ 5,276.4	$ 5,225.5
John Deere
Notes Receivable from and Payable to John Deere
Maximum remaining term for related party notes receivable			7 years
Interest earned	8.6	4.7	$ 15.4	10.2
Notes receivable from John Deere	545.6	211.5	545.6	211.5	370.7
Notes payable to John Deere	4,810.4	5,276.4	4,810.4	5,276.4	5,225.5
Long-term intercompany loans	551.5		551.5
Interest expense	45.8	17.5	85.7	34
Banco John Deere S.A.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	$ 545.6	171.8	$ 545.6	171.8	370
John Deere Agricultural Holdings, Inc.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere		$ 39.7		$ 39.7	$ 0.7

Long-Term External Borrowings_2

Long-Term External Borrowings (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Long-Term Borrowings
Total senior debt	$ 24,977.6	$ 22,597.9	$ 20,450.4
Unamortized debt discount and debt issuance costs	(70.8)	(70.1)	(59.1)
Total	24,906.8	22,527.8	20,391.3
Medium-term notes
Long-Term Borrowings
Total senior debt	24,977.3	22,595.4	20,445
Principal amount	25,625.1	23,564.6	20,904
Other notes
Long-Term Borrowings
Total senior debt	$ 0.3	$ 2.5	$ 5.4

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) $ in Millions	6 Months Ended
	Apr. 30, 2023 USD ($)
John Deere Financial Inc. | Guarantees of debt and derivatives | Medium-term notes.
Guarantee Obligations
Guarantee obligations maximum exposure	$ 2,059.9
Weighted average interest rate (as a percent)	2%
Maximum remaining maturity	6 years
John Deere Financial Inc. | Guarantees of debt and derivatives | Derivative Instruments
Guarantee Obligations
Guarantee obligations maximum exposure	$ 113
Notional amount	3,071.4
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	$ 147.1
Weighted average interest rate (as a percent)	3%
Maximum remaining maturity	1 year

Commitments and Contingencies_2

Commitments and Contingencies - Commitments (Details) $ in Millions	Apr. 30, 2023 USD ($)
Unfunded Commitments
Commitments
Reserve for credit losses on unfunded commitments	$ 2.6
Customer Receivables
Commitments
Unused commitments	$ 32,900
Minimum percentage of unused commitments to extend credit to customers that relate to revolving charge accounts	95%
Wholesale Receivables
Commitments
Unused commitments	$ 5,600

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Fair Values of Financial Instruments
Receivables financed - net	$ 46,949.8	$ 42,313.2	$ 37,786.7
Securitization borrowings	5,379.2	5,710.9	4,000.9
Current maturities of long-term external borrowings	5,186.3	5,989.6	6,153.7
Long-term external borrowings	24,906.8	22,527.8	20,391.3
Level 3 | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	40,883.5	35,562.4	33,365.3
Level 3 | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 5,493.8	$ 5,696.3	$ 4,010.7
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Level 2
Fair Values of Financial Instruments
Securitization borrowings	$ 5,271.2	$ 5,576.6	$ 3,937.7
Current maturities of long-term external borrowings	5,078.3	5,887.7	6,127.1
Long-term external borrowings	24,658.8	21,792.7	20,035.4
Carrying Value
Fair Values of Financial Instruments
Securitization borrowings	5,379.2	5,710.9	4,000.9
Current maturities of long-term external borrowings	5,186.3	5,989.6	6,153.7
Long-term external borrowings	24,906.8	22,527.8	20,391.3
Carrying Value | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	41,291.4	36,377.3	33,719.7
Carrying Value | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 5,658.4	$ 5,935.9	$ 4,067
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	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 1.2	$ 1.1	$ 1.6
Derivative assets	200.9	216.1	188.7
Derivative liabilities	612	1,038.3	599.6
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	202.1	217.2	190.3
Total liabilities	612	1,038.3	599.6
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	188.5	214.8	149
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	12.4	1.3	39.7
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	610.2	1,024.2	599.4
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	1.8	14.1	0.2
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	$ 1.2	$ 1.1	$ 1.6

Fair Value Measurements - Contr

Fair Value Measurements - Contractual Maturities of Debt Securities (Details) $ in Millions	Apr. 30, 2023 USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost basis	$ 5
Contractual Maturities of Debt Securities, Fair Value
Fair value	$ 1.2

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Cash Flow Hedges
Cash flow hedge gain (loss) recorded in OCI to be reclassified within twelve months	$ 32.7
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	$ 2,250	$ 1,950	$ 2,450

Derivative Instruments - Fair V

Derivative Instruments - Fair Value Hedges (Details) - Interest Rate Contracts (Swaps) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Fair Value Hedges | Designated as Hedging Instruments
Fair Value Hedges
Notional amounts	$ 10,280.9	$ 9,448.9	$ 7,952.3
Current Maturities of Long-term External Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item			177.8
Cumulative Fair Value Hedging Adjustment			0.6
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	1,213.3	2,514.9	2,606.6
Cumulative Fair Value Hedging Adjustment - Discontinued	13.9	15.5	7.4
Long-term External Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item	9,719.4	8,453.6	7,174.6
Cumulative Fair Value Hedging Adjustment	(515.9)	(950.1)	(564.5)
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	5,656.7	5,519.6	5,120
Cumulative Fair Value Hedging Adjustment - Discontinued	$ (131.9)	$ (19.1)	$ 105.5

Derivative Instruments - Not De

Derivative Instruments - Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Interest Rate Contracts (Swaps)
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 6,009.3	$ 3,931.3	$ 2,791.1
Interest rate caps | Sold
Derivatives Not Designated as Hedging Instruments
Notional amounts	966.8	1,020.3	1,281.9
Interest rate caps | Purchased
Derivatives Not Designated as Hedging Instruments
Notional amounts	966.8	1,020.3	1,281.9
Foreign currency exchange contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	1,312.3	1,069	903.4
Cross-currency interest rate contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 163.3	$ 134.2	$ 102.6

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Fair Value of Derivative Instruments
Total derivative assets	$ 200.9	$ 216.1	$ 188.7
Total derivative liabilities	612	1,038.3	599.6
Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	104.1	87.5	62.5
Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	564	947.9	545.2
Not Designated as Hedging Instruments | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	84.4	127.3	86.5
Not Designated as Hedging Instruments | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	46.2	76.3	54.2
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	83	124.5	81.5
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	32.6	74.2	54
Not Designated as Hedging Instruments | Foreign currency exchange contracts | Other Assets
Fair Value of Derivative Instruments
Total derivative assets	12.4	1.3	39.7
Not Designated as Hedging Instruments | Foreign currency exchange contracts | Accounts payable and accrued expenses
Fair Value of Derivative Instruments
Total derivative liabilities	1.8	14.1	0.2
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	1.4	2.8	5
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	$ 13.6	$ 2.1	$ 0.2

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 79.6	$ 43.1	$ (57.4)	$ 107.6
John Deere
Classification and gains (losses) including accrued interest expense related to derivative instruments
Gain (loss) on derivative transactions with affiliate party	$ 13.9	$ (454.9)	$ 256.4	$ (577.5)
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	$ (3.7)	$ 35.2	$ (5.6)	$ 50.6
Interest Rate Contracts (Swaps) | Interest expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	(3.9)	(489.5)	231.4	(629)
Cash flow hedges, reclassified from OCI	19.9	0.2	36.2	(0.9)
Not designated as hedges, gains (losses)	4.3	46.5	2.4	43.2
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)	$ 75.3	$ (3.4)	$ (59.8)	$ 64.4

Derivative Instruments - Counte

Derivative Instruments - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Derivative assets
Gross Amounts Recognized	$ 200.9	$ 216.1	$ 188.7
Derivative liabilities
Gross Amounts Recognized	612	1,038.3	599.6
John Deere
Derivative assets
Gross Amounts Recognized	188.5	214.8	149
Netting Arrangements	(147)	(128.3)	(82.8)
Net Amount	41.5	86.5	66.2
Derivative liabilities
Gross Amounts Recognized	610.2	1,024.2	599.4
Netting Arrangements	(147)	(128.3)	(82.8)
Net Amount	463.2	895.9	516.6
External
Derivative assets
Gross Amounts Recognized	12.4	1.3	39.7
Netting Arrangements	(1.5)	(1.1)	(0.2)
Net Amount	10.9	0.2	39.5
Derivative liabilities
Gross Amounts Recognized	1.8	14.1	0.2
Netting Arrangements	(1.5)	(1.1)	(0.2)
Net Amount	0.3	13
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

Immaterial Restatement of Pri_3

Immaterial Restatement of Prior Period Financial Statements - Consolidated Income and the Related Impacts to the Statements of Consolidated Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended			6 Months Ended
	Jan. 30, 2023	Apr. 30, 2023	Jan. 29, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Revenues
Finance income earned on retail notes		$ 352.1		$ 251.9	$ 682.1	$ 500.8
Lease revenues		240.6		238	483.1	481.1
Total revenues		929.3		662	1,765.8	1,315.4
Expenses
Administrative and operating expenses		140		128.2	276.7	244.6
Total operating expenses		385.9		406.8	748.2	730.5
Total expenses		761.2		462.5	1,424.5	885.7
Income of consolidated group before income taxes		168.1		199.5	341.3	429.7
Provision for income taxes		39		43.9	75.8	93.8
Income of consolidated group		129.1		155.6	265.5	335.9
Net income		129.9		156.7	267.3	338.9
Net income attributable to the Company		$ 130	$ 137.6	156.8	$ 267.6	339
Previously Reported
Revenues
Finance income earned on retail notes				242.8		482.8
Lease revenues				236.5		478
Total revenues				651.4		1,294.3
Expenses
Administrative and operating expenses				115.2		211.6
Total operating expenses				393.8		697.5
Total expenses				449.5		852.7
Income of consolidated group before income taxes				201.9		441.6
Provision for income taxes				44.5		96.5
Income of consolidated group				157.4		345.1
Net income				158.5		348.1
Net income attributable to the Company			147.1	158.6		348.2
Adjustment
Immaterial Restatement of Prior Period Financial Statements
Error Correction, Previously Immaterial [true false]	true
Type of error correction	jdcc:CorrectionOfTimingOfExpenseAndClassificationForFinancingIncentivesProgramToDealersMember
Revenues
Finance income earned on retail notes				9.1		18
Lease revenues				1.5		3.1
Total revenues				10.6		21.1
Expenses
Administrative and operating expenses				13		33
Total operating expenses				13		33
Total expenses				13		33
Income of consolidated group before income taxes				(2.4)		(11.9)
Provision for income taxes				(0.6)		(2.7)
Income of consolidated group				(1.8)		(9.2)
Net income				(1.8)		(9.2)
Net income attributable to the Company			$ (9.5)	$ (1.8)		$ (9.2)

Immaterial Restatement of Pri_4

Immaterial Restatement of Prior Period Financial Statements - Consolidated Balance Sheets and the Related Components of Stockholders' Equity (Details) - USD ($) $ in Millions	Apr. 30, 2023	Jan. 29, 2023	Oct. 30, 2022	May 01, 2022	Jan. 30, 2022	Oct. 31, 2021
Receivables:
Total receivables	$ 47,083.5		$ 42,441.6	$ 37,911.2
Total receivables - net	46,949.8		42,313.2	37,786.7
Deferred income taxes	25.9		25.5	31.5
Total assets	54,412.4		48,868.9	43,967.5
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses	1,041.1		957.3	920.1
Deferred income taxes	175		208.5	216.2
Total liabilities	48,617.4		44,183.4	39,416.4
Stockholder's equity:
Retained earnings	3,573.5		3,305.9	3,146.3		$ 2,982.3
Total Company stockholder's equity	5,793.8		4,684	4,549.4
Total stockholder's equity	5,795	$ 4,875.2	4,685.5	4,551.1	$ 4,536.1	4,417.5
Total Liabilities and Stockholder's Equity	54,412.4		48,868.9	43,967.5
Retail notes | Unrestricted
Receivables:
Total receivables	$ 23,713.5		22,799	22,164.1
Previously Reported
Receivables:
Total receivables			42,502.9	37,958.5
Total receivables - net			42,374.5	37,834
Deferred income taxes			23.3	29.6
Total assets			48,928	44,012.9
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses			866.1	817
Deferred income taxes			239.4	246.8
Total liabilities			44,123.1	39,343.9
Stockholder's equity:
Retained earnings			3,425.3	3,264.2		3,091
Total Company stockholder's equity			4,803.4	4,667.3
Total stockholder's equity			4,804.9	4,669
Total Liabilities and Stockholder's Equity			48,928	44,012.9
Previously Reported | Retail notes | Unrestricted
Receivables:
Total receivables			22,860.3	22,211.4
Adjustment
Receivables:
Total receivables			(61.3)	(47.3)
Total receivables - net			(61.3)	(47.3)
Deferred income taxes			2.2	1.9
Total assets			(59.1)	(45.4)
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses			91.2	103.1
Deferred income taxes			(30.9)	(30.6)
Total liabilities			60.3	72.5
Stockholder's equity:
Retained earnings			(119.4)	(117.9)		$ (108.7)
Total Company stockholder's equity			(119.4)	(117.9)
Total stockholder's equity			(119.4)	(117.9)
Total Liabilities and Stockholder's Equity			(59.1)	(45.4)
Adjustment | Retail notes | Unrestricted
Receivables:
Total receivables			$ (61.3)	$ (47.3)

Immaterial Restatement of Pri_5

Immaterial Restatement of Prior Period Financial Statements - Consolidated Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	May 01, 2022	Apr. 30, 2023	May 01, 2022
Cash Flows from Operating Activities:
Net income	$ 129.9	$ 156.7	$ 267.3	$ 338.9
Adjustments to reconcile net income to net cash provided by operating activities:
Credit for deferred income taxes			(25)	(28.5)
Change in accounts payable and accrued expenses			69.8	(37.2)
Other			(29.9)	(91.3)
Net cash provided by operating activities			$ 656.7	541.1
Previously Reported
Cash Flows from Operating Activities:
Net income		158.5		348.1
Adjustments to reconcile net income to net cash provided by operating activities:
Credit for deferred income taxes				(25.8)
Change in accounts payable and accrued expenses				(46.7)
Other				(93.7)
Net cash provided by operating activities				541.1
Adjustment
Cash Flows from Operating Activities:
Net income		$ (1.8)		(9.2)
Adjustments to reconcile net income to net cash provided by operating activities:
Credit for deferred income taxes				(2.7)
Change in accounts payable and accrued expenses				9.5
Other				$ 2.4

Subsequent Events - Securitizat

Subsequent Events - Securitization Borrowings (Details) - USD ($) $ in Millions	May 22, 2023	Apr. 30, 2023	Oct. 30, 2022	May 01, 2022
Subsequent Events
Securitization borrowings		$ 5,379.2	$ 5,710.9	$ 4,000.9
Subsequent Event | Short-term Securitization Borrowings
Subsequent Events
Securitization borrowings	$ 589.1