Deere John Capital (DE22B) 10-Q 31 Aug 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jul. 30, 2023	Aug. 31, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jul. 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	Q3
Entity Central Index Key	0000027673
Amendment Flag	false

Statements of Consolidated Inco

Statements of Consolidated Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Revenues
Finance income earned on retail notes	$ 387.4	$ 267.1	$ 1,069.5	$ 767.9
Lease revenues	250.1	239.2	733.2	720.3
Revolving charge account income	114.9	77.4	289.7	209.8
Finance income earned on wholesale receivables	255.3	89.9	610.8	220.8
Other income	49.9	27.3	120.2	97.5
Total revenues	1,057.6	700.9	2,823.4	2,016.3
Expenses
Interest expense	445.3	137.4	1,121.6	292.6
Operating expenses:
Depreciation of equipment on operating leases	165.8	166.2	491.4	500.8
Administrative and operating expenses	142.6	121.1	419.3	365.7
Provision for credit losses	22.4	9.2	52.6	21.2
Total operating expenses	398.7	333	1,146.9	1,063.5
Total expenses	844	470.4	2,268.5	1,356.1
Income of Consolidated Group before Income Taxes	213.6	230.5	554.9	660.2
Provision for income taxes	56.5	60.6	132.3	154.4
Income of Consolidated Group	157.1	169.9	422.6	505.8
Equity in income of unconsolidated affiliate	0.5	0.6	2.3	3.6
Net Income	157.6	170.5	424.9	509.4
Less: Net loss attributable to noncontrolling interests	(0.1)		(0.4)	(0.1)
Net Income Attributable to the Company	157.7	170.5	425.3	509.5
Related Party
Expenses
Interest expense	60.1	23.7	145.8	57.6
Operating expenses:
Fees and interest paid to John Deere	$ 67.9	$ 36.5	$ 183.6	$ 175.8

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Statements of Consolidated Comprehensive Income
Net Income	$ 157.6	$ 170.5	$ 424.9	$ 509.4
Other Comprehensive Income (Loss), Net of Income Taxes
Cumulative translation adjustment	4	(18.1)	69.2	(88.7)
Unrealized gain (loss) on derivatives	4.3	(2.2)	(28.7)	38.5
Unrealized gain (loss) on debt securities	0.3	(0.2)	0.3	(0.6)
Other Comprehensive Income (Loss), Net of Income Taxes	8.6	(20.5)	40.8	(50.8)
Comprehensive Income of Consolidated Group	166.2	150	465.7	458.6
Less: Comprehensive loss attributable to noncontrolling interests	(0.1)		(0.4)	(0.1)
Comprehensive Income Attributable to the Company	$ 166.3	$ 150	$ 466.1	$ 458.7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Assets
Cash and cash equivalents	$ 1,499.4	$ 661.8	$ 657.1
Marketable securities	1.8	1.1	1.3
Receivables:
Total receivables	50,198.9	42,441.6	40,480.9
Allowance for credit losses	(128.8)	(128.4)	(127.3)
Total receivables - net	50,070.1	42,313.2	40,353.6
Equipment on operating leases - net	4,837.5	4,853.5	4,777.5
Investment in unconsolidated affiliate	27	22.6	22.3
Deferred income taxes	25.3	25.5	31.5
Other assets	363	314.3	315.7
Total Assets	57,766.6	48,868.9	46,699.9
Liabilities:
Commercial paper and other notes payable	6,437.3	2,402.3	4,092.8
Securitization borrowings	6,608.4	5,710.9	4,918.5
Current maturities of long-term external borrowings	5,091.2	5,989.6	6,476.7
Total short-term external borrowings	18,136.9	14,102.8	15,488
Deposits held from dealers and merchants	132.9	137.3	128.6
Deferred income taxes	164.5	208.5	208
Long-term external borrowings	27,408	22,527.8	20,393.6
Total liabilities	51,805.4	44,183.4	42,133.8
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	3,731.2	3,305.9	3,181.8
Accumulated other comprehensive loss	(63.9)	(104.7)	(100.2)
Total Company stockholder's equity	5,960.1	4,684	4,564.4
Noncontrolling interests	1.1	1.5	1.7
Total stockholder's equity	5,961.2	4,685.5	4,566.1
Total Liabilities and Stockholder's Equity	57,766.6	48,868.9	46,699.9
Nonrelated Party
Receivables:
Other receivables	124.9	91.4	93.4
Liabilities:
Accounts payable and accrued expenses	1,080.5	957.3	969.2
Related Party
Receivables:
Other receivables	169.5	214.8	168.3
Notes receivable from John Deere	648.1	370.7	279.2
Liabilities:
Notes payable to John Deere	4,139.2	5,225.5	4,499.8
Accounts payable and accrued expenses	743.4	1,024.2	446.6
Securitized
Receivables:
Other assets	152.8	155.2	136.2
Retail notes | Unrestricted
Receivables:
Total receivables	23,424.1	22,799	22,208.8
Retail notes | Securitized
Receivables:
Total receivables	$ 7,018.7	$ 5,951.6	$ 5,154.1
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Revolving charge accounts
Receivables:
Total receivables	$ 4,437.5	$ 4,165.8	$ 4,003.9
Allowance for credit losses	(17.5)	(21.9)	(17.3)
Wholesale Receivables
Receivables:
Total receivables	14,027.6	8,404.5	8,151.3
Allowance for credit losses	(11.9)	(11.1)	(11.2)
Financing Leases
Receivables:
Total receivables	$ 1,291	$ 1,120.7	$ 962.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 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	9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Cash Flows from Operating Activities:
Net Income	$ 424.9	$ 509.4
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	52.6	21.2
Provision for depreciation and amortization	509.5	519.5
Credit for deferred income taxes	(36.3)	(36.1)
Change in accounts payable and accrued expenses	125.2	(15.1)
Change in accrued income taxes payable/receivable	8.3	18.9
Other	(185)	(119.7)
Net cash provided by operating activities	899.2	898.1
Cash Flows from Investing Activities:
Cost of receivables acquired (excluding wholesale)	(18,685.5)	(17,199.4)
Collections of receivables (excluding wholesale)	16,433.8	15,059.4
Increase in wholesale receivables - net	(5,375.6)	(2,439.9)
Cost of equipment on operating leases acquired	(1,564.3)	(1,390.9)
Proceeds from sales of equipment on operating leases	1,109.6	1,105.9
Cost of notes receivable acquired from John Deere	(358.7)	(226.7)
Collections of notes receivable from John Deere	87.2	342.2
Other	(12.4)	(7)
Net cash used for investing activities	(8,365.9)	(4,756.4)
Cash Flows from Financing Activities:
Increase in commercial paper and other notes payable - net	3,988.1	3,407
Increase in securitization borrowings - net	897.4	325.7
Decrease in short-term borrowings with John Deere - net	(1,205)	(716.3)
Proceeds from issuance of long-term external borrowings	8,794.2	5,371.5
Payments of long-term external borrowings	(4,935.1)	(4,197.5)
Dividends paid		(310)
Capital investments from John Deere	810
Debt issuance costs	(38)	(23.8)
Net cash provided by financing activities	8,311.6	3,856.6
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	13.4	(13.3)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	858.3	(15)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	766.1	772.8
Cash, Cash Equivalents, and Restricted Cash at End of Period	1,624.4	757.8
Components of Cash, Cash Equivalents, and Restricted Cash:
Cash and cash equivalents	1,499.4	657.1
Restricted cash	$ 125	$ 100.7
Balance sheet location of restricted cash	Other assets	Other assets
Total Cash, Cash Equivalents, and Restricted Cash	$ 1,624.4	$ 757.8

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)		509.5		(0.1)	509.4
Other comprehensive income (loss)			(50.8)		(50.8)
Dividends declared		(310)			(310)
Balance at Jul. 31, 2022	1,482.8	3,181.8	(100.2)	1.7	4,566.1
Balance at May. 01, 2022	1,482.8	3,146.3	(79.7)	1.7	4,551.1
Increase (Decrease) in Stockholder's Equity
Net income (loss)		170.5			170.5
Other comprehensive income (loss)			(20.5)		(20.5)
Dividends declared		(135)			(135)
Balance at Jul. 31, 2022	1,482.8	3,181.8	(100.2)	1.7	4,566.1
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)		425.3		(0.4)	424.9
Other comprehensive income (loss)			40.8		40.8
Capital investment	810				810
Balance at Jul. 30, 2023	2,292.8	3,731.2	(63.9)	1.1	5,961.2
Balance at Apr. 30, 2023	2,292.8	3,573.5	(72.5)	1.2	5,795
Increase (Decrease) in Stockholder's Equity
Net income (loss)		157.7		(0.1)	157.6
Other comprehensive income (loss)			8.6		8.6
Balance at Jul. 30, 2023	$ 2,292.8	$ 3,731.2	$ (63.9)	$ 1.1	$ 5,961.2

Organization and Consolidation

Organization and Consolidation	9 Months Ended
	Jul. 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 third quarter ends for fiscal years 2023 and 2022 were July 30, 2023 and July 31, 2022, respectively. Both third quarters contained 13 weeks, while both year-to-date periods contained 39 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 was 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 2023 consolidated financial results. Consequently, the Company 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	9 Months Ended
	Jul. 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	9 Months Ended
	Jul. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2022 Cumulative translation adjustment ​ $ (99.8) ​ $ (169.0) ​ $ (143.2) Unrealized gain on derivatives ​ ​ 38.1 ​ ​ 66.8 ​ ​ 45.3 Unrealized loss on debt securities ​ ​ (2.2) ​ ​ (2.5) ​ ​ (2.3) Total accumulated other comprehensive income (loss) ​ $ (63.9) ​ $ (104.7) ​ $ (100.2) ​ 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 July 30, 2023 ​ ​ ​ ​ ​ ​ Cumulative translation adjustment $ 4.0 ​ ​ ​ ​ $ 4.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 23.8 ​ $ (5.0) ​ 18.8 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (18.3) ​ ​ 3.8 ​ ​ (14.5) ​ Net unrealized gain (loss) on derivatives ​ 5.5 ​ (1.2) ​ 4.3 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .5 ​ ​ (.2) ​ ​ .3 ​ Total other comprehensive income (loss) ​ $ 10.0 ​ $ (1.4) ​ $ 8.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended July 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 69.2 ​ ​ ​ ​ $ 69.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 18.2 ​ $ (3.8) ​ 14.4 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (54.5) ​ ​ 11.4 ​ ​ (43.1) ​ Net unrealized gain (loss) on derivatives ​ (36.3) ​ 7.6 ​ (28.7) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .5 ​ ​ (.2) ​ ​ .3 ​ Total other comprehensive income (loss) ​ $ 33.4 ​ $ 7.4 ​ $ 40.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (18.1) ​ ​ ​ ​ $ (18.1) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ .8 ​ $ (.2) ​ .6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (3.6) ​ ​ .8 ​ ​ (2.8) ​ Net unrealized gain (loss) on derivatives ​ (2.8) ​ ​ .6 ​ (2.2) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.3) ​ ​ .1 ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (21.2) ​ $ .7 ​ $ (20.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (88.7) ​ ​ ​ ​ $ (88.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 51.4 ​ $ (10.8) ​ 40.6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (2.7) ​ ​ .6 ​ (2.1) ​ Net unrealized gain (loss) on derivatives ​ 48.7 ​ (10.2) ​ 38.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.9) ​ ​ .3 ​ ​ (.6) ​ Total other comprehensive income (loss) ​ $ (40.9) ​ $ (9.9) ​ $ (50.8) ​ ​

Receivables

Receivables	9 Months Ended
	Jul. 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 collection is 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 ​ Nine Months Ended ​ ​ ​ July 30 ​ July 31 ​ July 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Accrued finance income and lease revenue reversed ​ $ 4.5 ​ $ 2.0 ​ $ 12.4 ​ $ 8.8 Finance income and lease revenue recognized on cash payments ​ ​ 5.6 ​ ​ 4.8 ​ ​ 13.3 ​ ​ 11.8 ​ ​ 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 9,040.7 ​ $ 8,355.6 ​ $ 5,064.2 ​ $ 2,361.3 ​ $ 858.2 ​ $ 282.6 ​ $ 4,284.0 ​ $ 30,246.6 30-59 days past due ​ ​ 52.9 ​ ​ 73.3 ​ ​ 43.5 ​ ​ 20.4 ​ ​ 10.2 ​ ​ 3.4 ​ ​ 19.4 ​ ​ 223.1 60-89 days past due ​ ​ 17.2 ​ ​ 25.6 ​ ​ 13.2 ​ ​ 7.5 ​ ​ 3.9 ​ ​ 1.1 ​ ​ 5.6 ​ ​ 74.1 90+ days past due ​ ​ .1 ​ ​ .7 ​ ​ .4 ​ ​ .1 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ 1.4 Non-performing ​ ​ 12.9 ​ ​ 55.0 ​ ​ 45.4 ​ ​ 24.9 ​ ​ 13.2 ​ ​ 13.8 ​ ​ 8.3 ​ ​ 173.5 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,725.5 ​ ​ 1,757.6 ​ ​ 1,006.8 ​ ​ 351.7 ​ ​ 96.5 ​ ​ 36.0 ​ ​ 113.0 ​ ​ 5,087.1 30-59 days past due ​ ​ 35.0 ​ ​ 38.4 ​ ​ 34.9 ​ ​ 11.8 ​ ​ 4.8 ​ ​ 1.3 ​ ​ 4.3 ​ ​ 130.5 60-89 days past due ​ ​ 12.5 ​ ​ 20.1 ​ ​ 13.3 ​ ​ 7.6 ​ ​ 1.9 ​ ​ 1.0 ​ ​ 1.5 ​ ​ 57.9 90+ days past due ​ ​ ​ ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .3 Non-performing ​ ​ 15.9 ​ ​ 68.5 ​ ​ 55.2 ​ ​ 23.0 ​ ​ 8.3 ​ ​ 4.5 ​ ​ 1.4 ​ ​ 176.8 Total ​ $ 10,912.7 ​ $ 10,395.1 ​ $ 6,276.9 ​ $ 2,808.3 ​ $ 997.0 ​ $ 343.8 ​ $ 4,437.5 ​ $ 36,171.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,116.1 ​ $ 7,998.4 ​ $ 4,017.9 ​ $ 1,815.7 ​ $ 740.8 ​ $ 256.4 ​ $ 3,868.8 ​ $ 26,814.1 30-59 days past due ​ ​ 34.5 ​ ​ 55.4 ​ ​ 28.9 ​ ​ 16.9 ​ ​ 6.9 ​ ​ 2.9 ​ ​ 17.0 ​ ​ 162.5 60-89 days past due ​ ​ 14.0 ​ ​ 18.0 ​ ​ 10.9 ​ ​ 5.1 ​ ​ 2.0 ​ ​ .9 ​ ​ 4.2 ​ ​ 55.1 90+ days past due ​ ​ ​ ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ .5 Non-performing ​ ​ 16.0 ​ ​ 40.3 ​ ​ 29.6 ​ ​ 16.6 ​ ​ 12.8 ​ ​ 12.2 ​ ​ 6.6 ​ ​ 134.1 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,868.7 ​ ​ 1,712.0 ​ ​ 772.5 ​ ​ 297.7 ​ ​ 82.4 ​ ​ 17.2 ​ ​ 103.2 ​ ​ 4,853.7 30-59 days past due ​ ​ 40.0 ​ ​ 45.5 ​ ​ 22.1 ​ ​ 11.3 ​ ​ 3.4 ​ ​ 1.1 ​ ​ 2.6 ​ ​ 126.0 60-89 days past due ​ ​ 11.9 ​ ​ 13.0 ​ ​ 11.1 ​ ​ 4.1 ​ ​ 1.0 ​ ​ .3 ​ ​ .7 ​ ​ 42.1 90+ days past due ​ ​ ​ ​ ​ 7.3 ​ ​ 2.1 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.8 Non-performing ​ ​ 8.1 ​ ​ 50.6 ​ ​ 40.9 ​ ​ 20.2 ​ ​ 7.3 ​ ​ 3.8 ​ ​ .8 ​ ​ 131.7 Total ​ $ 10,109.3 ​ $ 9,940.7 ​ $ 4,936.2 ​ $ 2,188.0 ​ $ 856.7 ​ $ 294.8 ​ $ 4,003.9 ​ $ 32,329.6 ​ The credit quality analysis of wholesale receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 444.6 ​ $ 138.5 ​ $ 26.3 ​ $ 6.8 ​ $ 1.3 ​ $ 1.0 ​ $ 10,555.3 ​ $ 11,173.8 30+ days past due ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 21.2 ​ ​ 21.5 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.2 ​ ​ 6.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 18.8 ​ ​ 3.2 ​ ​ 22.3 ​ ​ .3 ​ ​ .2 ​ ​ ​ ​ ​ 2,768.3 ​ ​ 2,813.1 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13.0 ​ ​ 13.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 463.7 ​ $ 141.7 ​ $ 48.6 ​ $ 7.1 ​ $ 1.5 ​ $ 1.0 ​ $ 13,364.0 ​ $ 14,027.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 286.0 ​ $ 96.3 ​ $ 32.7 ​ $ 5.9 ​ $ .8 ​ $ 1.6 ​ $ 6,347.8 ​ $ 6,771.1 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10.6 ​ ​ 10.6 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.6 ​ ​ 5.6 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 8.4 ​ ​ 31.5 ​ ​ 1.7 ​ ​ .7 ​ ​ .2 ​ ​ ​ ​ ​ 1,318.5 ​ ​ 1,361.0 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 ​ ​ 3.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 294.4 ​ $ 127.8 ​ $ 34.4 ​ $ 6.6 ​ $ 1.0 ​ $ 1.6 ​ $ 7,685.5 ​ $ 8,151.3 ​ Allowance for Credit Losses The allowance for credit losses is an estimate of the credit losses expected over the life of the Company’s Receivable portfolio. The Company measures expected credit losses on a collective basis when similar risk characteristics exist. Risk characteristics considered by the Company include product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. Non-performing Receivables are included in the estimate of expected credit losses. 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 $3.4 million for the third quarter and $9.2 million for the first nine months of 2023, compared with $2.4 million and $5.4 million for the same periods last year, respectively. An analysis of the allowance for credit losses and investment in Receivables during 2023 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ July 30, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 103.2 ​ $ 19.3 ​ $ 11.2 ​ $ 133.7 ​ Provision for credit losses* ​ 11.2 ​ ​ 10.6 ​ ​ .5 ​ ​ 22.3 ​ Write-offs ​ (18.5) ​ ​ (18.2) ​ ​ ​ ​ ​ (36.7) ​ Recoveries ​ 3.3 ​ ​ 5.8 ​ ​ ​ ​ ​ 9.1 ​ Translation adjustments ​ .2 ​ ​ ​ ​ ​ .2 ​ ​ .4 ​ End of period balance ​ $ 99.4 ​ $ 17.5 ​ $ 11.9 ​ $ 128.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ July 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 for credit losses* ​ 36.6 ​ ​ 15.1 ​ ​ .2 ​ ​ 51.9 ​ Write-offs ​ (43.0) ​ ​ (36.2) ​ ​ (.1) ​ ​ (79.3) ​ Recoveries ​ 9.9 ​ ​ 16.7 ​ ​ .6 ​ ​ 27.2 ​ Translation adjustments ​ .5 ​ ​ ​ ​ ​ .1 ​ ​ .6 ​ End of period balance ​ $ 99.4 ​ $ 17.5 ​ $ 11.9 ​ $ 128.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 31,733.8 ​ $ 4,437.5 ​ $ 14,027.6 ​ $ 50,198.9 ​ ​ * The allowance for credit losses decreased slightly in the third quarter as strong fundamentals within the agriculture market continued to benefit the portfolio. The allowance for the first nine months of 2023 was relatively flat as higher portfolio balances and higher expected losses on turf and construction customer accounts offset the favorable benefits related to agricultural customer accounts. 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 ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ Provision for credit losses* ​ 5.2 ​ ​ 3.2 ​ ​ ​ ​ ​ 8.4 ​ Write-offs ​ (6.1) ​ ​ (10.5) ​ ​ ​ ​ ​ (16.6) ​ Recoveries ​ 4.1 ​ ​ 7.3 ​ ​ ​ ​ ​ 11.4 ​ Translation adjustments ​ (.3) ​ ​ (.1) ​ ​ ​ ​ ​ (.4) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ Provision (credit) for credit losses* ​ 24.0 ​ ​ (3.7) ​ ​ .3 ​ ​ 20.6 ​ Write-offs ​ (31.9) ​ ​ (22.0) ​ ​ (.2) ​ ​ (54.1) ​ Recoveries ​ 10.7 ​ ​ 22.2 ​ ​ ​ ​ ​ 32.9 ​ Translation adjustments ​ (.5) ​ ​ ​ ​ ​ (.6) ​ ​ (1.1) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 28,325.7 ​ $ 4,003.9 ​ $ 8,151.3 ​ $ 40,480.9 ​ ​ * 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ ​ July 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ Number of Receivable contracts ​ ​ 92 ​ ​ 175 Pre-modification balance ​ $ 3.5 ​ $ 6.5 ​ Post-modification balance ​ ​ 3.4 ​ ​ 5.3 ​ ​ During the same periods as the table above, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At July 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	9 Months Ended
	Jul. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2022 Retail notes securitized ​ $ 7,018.7 ​ $ 5,951.6 ​ $ 5,154.1 ​ Allowance for credit losses ​ (17.4) ​ (15.7) ​ (14.7) ​ Other assets (primarily restricted cash) ​ 152.8 ​ 155.2 ​ 136.2 ​ Total restricted securitized assets ​ $ 7,154.1 ​ $ 6,091.1 ​ $ 5,275.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 6,608.4 ​ $ 5,710.9 ​ $ 4,918.5 ​ Accrued interest on borrowings ​ 15.1 ​ 6.1 ​ 3.4 ​ Total liabilities related to restricted securitized assets ​ $ 6,623.5 ​ $ 5,717.0 ​ $ 4,921.9 ​ ​

Leases

Leases	9 Months Ended
	Jul. 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 ​ Nine Months Ended ​ ​ July 30 ​ July 31 ​ July 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 Sales-type and direct financing lease revenues ​ $ 25.2 ​ $ 14.7 ​ $ 63.6 ​ $ 40.2 Operating lease revenues ​ ​ 224.9 ​ ​ 219.4 ​ ​ 660.6 ​ ​ 664.4 Variable lease revenues ​ .1 ​ 5.6 ​ 10.3 ​ 17.6 Total lease revenues ​ $ 250.2 ​ $ 239.7 ​ $ 734.5 ​ $ 722.2 ​ 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 $.1 million and $1.3 million for the third quarter and first nine months ended July 30, 2023, respectively, compared with $.5 million and $1.9 million for the same periods last year, respectively. ​ The cost of equipment on operating leases by market was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2022 Agriculture and turf ​ $ 5,049.1 ​ $ 5,017.3 ​ $ 4,951.3 Construction and forestry ​ ​ 1,054.2 ​ 1,138.0 ​ ​ 1,178.9 Total ​ ​ 6,103.3 ​ ​ 6,155.3 ​ ​ 6,130.2 Accumulated depreciation ​ (1,265.8) ​ ​ (1,301.8) ​ ​ (1,352.7) Equipment on operating leases – net ​ $ 4,837.5 ​ $ 4,853.5 ​ $ 4,777.5 ​ Total operating lease residual values at July 30, 2023, October 30, 2022, and July 31, 2022 were $3,351.1 million, $3,366.7 million, and $3,352.8 million, respectively. John Deere dealers generally provide a first-loss residual value guarantee on operating lease originations. Total residual value guarantees were $544.1 million, $440.7 million, and $464.9 million at July 30, 2023, October 30, 2022, and July 31, 2022, respectively. The Company discusses with lessees and dealers options to purchase the equipment or extend the lease prior to operating lease maturity. Equipment returned to the Company upon termination of leases is remarketed by the Company. The matured operating lease inventory balances at July 30, 2023, October 30, 2022, and July 31, 2022 were $16.2 million, $10.8 million, and $16.6 million, respectively. Matured operating lease inventory is reported in other assets on the consolidated balance sheets.

Notes Receivable from and Payab

Notes Receivable from and Payable to John Deere	9 Months Ended
	Jul. 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 $10.4 million for the third quarter and $25.8 million in the first nine months of 2023, respectively, compared with $2.5 million and $12.7 million for the same periods last year, respectively. The Company had notes receivable from John Deere with the following affiliated companies as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Banco John Deere S.A. ​ $ 648.1 ​ $ 370.0 ​ $ 270.4 ​ John Deere Agricultural Holdings, Inc. ​ ​ ​ ​ .7 ​ ​ 8.8 ​ Total Notes Receivable from John Deere ​ $ 648.1 ​ $ 370.7 ​ $ 279.2 ​ ​ The Company also obtains funding from affiliated companies. At July 30, 2023, October 30, 2022, and July 31, 2022, the Company had notes payable to John Deere of $4,139.2 million, $5,225.5 million and $4,499.8 million, respectively. The intercompany borrowings are primarily short-term in nature or contain a due on demand call option. At July 30, 2023, $548.8 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 $60.1 million for the third quarter and $145.8 million for the first nine months of 2023, respectively, compared with $23.7 million and $57.6 million for the same periods last year, respectively.

Long-Term External Borrowings

Long-Term External Borrowings	9 Months Ended
	Jul. 30, 2023
Long-Term External Borrowings
Long-Term External Borrowings	(8)  Long-Term External Borrowings Long-term external borrowings of the Company at July 30, 2023, October 30, 2022, and July 31, 2022 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 27,487.6 ​ $ 22,595.4 ​ $ 20,450.3 ​ Other notes ​ ​ .2 ​ ​ 2.5 ​ ​ 2.9 ​ Total senior debt ​ ​ 27,487.8 ​ ​ 22,597.9 ​ ​ 20,453.2 ​ Unamortized debt discount and debt issuance costs ​ ​ (79.8) ​ ​ (70.1) ​ ​ (59.6) ​ Total ​ $ 27,408.0 ​ $ 22,527.8 ​ $ 20,393.6 ​ ​ 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 $28,420.0 million, $23,564.6 million, and $20,796.7 million at July 30, 2023, October 30, 2022, and July 31, 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	9 Months Ended
	Jul. 30, 2023
Commitments and Contingencies
Commitments and Contingencies	(9)  Commitments and Contingencies At July 30, 2023, John Deere Financial Inc., the John Deere finance subsidiary in Canada, had $2,494.9 million of medium-term notes outstanding, and a fair value liability of $147.0 million for derivatives outstanding, prior to considering applicable netting provisions, with notional amounts of $2,419.3 million that were guaranteed by Capital Corporation. The weighted-average interest rate on the medium-term notes at July 30, 2023 was 2.5 percent with a maximum remaining maturity of six years. 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 July 30, 2023, the amount of unused commitments to extend credit to customers and John Deere dealers was $32.4 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 $2.8 million on unfunded commitments that are not unconditionally cancellable at July 30, 2023, which is recorded in accounts payable and accrued expenses on the consolidated balance sheets. At July 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 July 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	9 Months Ended
	Jul. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ October 30, 2022 ​ July 31, 2022 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 43,068.8 ​ $ 42,654.1 ​ $ 36,377.3 ​ $ 35,562.4 ​ $ 35,214.2 ​ $ 34,617.9 ​ Retail notes securitized – net ​ 7,001.3 ​ 6,817.7 ​ 5,935.9 ​ ​ 5,696.3 ​ 5,139.4 ​ 4,988.8 ​ Securitization borrowings ​ 6,608.4 ​ ​ 6,538.4 ​ 5,710.9 ​ ​ 5,576.6 ​ 4,918.5 ​ 4,861.4 ​ Current maturities of long- ​ 5,091.2 ​ ​ 4,947.7 ​ 5,989.6 ​ ​ 5,887.7 ​ 6,476.7 ​ 6,426.0 ​ Long-term external ​ 27,408.0 ​ 27,135.5 ​ 22,527.8 ​ ​ 21,792.7 ​ 20,393.6 ​ 20,087.6 ​ ​ Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings. Fair values of Receivables that were issued long-term were based on the discounted values of their related cash flows at interest rates currently being offered by the Company for similar Receivables. The fair values of the remaining Receivables approximated the carrying amounts. Fair values of long-term external borrowings and securitization borrowings were based on current market quotes for identical or similar borrowings and credit risk, or on the discounted values of their related cash flows at current market interest rates. Certain long-term external borrowings have been swapped to current variable interest rates. The carrying values of these long-term external borrowings include adjustments related to fair value hedges. Assets and liabilities measured at fair value on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 October 30 July 31 ​ ​ 2023 ​ 2022 ​ 2022 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.8 ​ $ 1.1 ​ $ 1.3 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 169.5 ​ ​ 214.8 ​ ​ 168.3 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 8.4 ​ 1.3 ​ 1.8 ​ Total assets ​ $ 179.7 ​ $ 217.2 ​ $ 171.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 743.4 ​ $ 1,024.2 ​ $ 446.6 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 5.2 ​ 14.1 ​ 22.1 ​ Total liabilities ​ $ 748.6 ​ $ 1,038.3 ​ $ 468.7 ​ 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 seven years. At July 30, 2023, the amortized cost basis and fair value of these available-for-sale debt securities were $5.1 million and $1.8 million, respectively. Unrealized losses at July 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 July 30, 2023, October 30, 2022, and July 31, 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	9 Months Ended
	Jul. 30, 2023
Derivative Instruments
Derivative Instruments	(11)  Derivative Instruments 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. Derivative asset and liability positions for transactions with John Deere are recorded in receivables from John Deere and other payables to John Deere, respectively, in the consolidated balance sheets. Derivative asset and liability positions for transactions with unrelated external counterparty banks are recorded in other assets and accounts payable and accrued expenses, respectively, in the consolidated balance sheets. The fair value of the Company’s derivative instruments and the associated notional amounts were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ October 30, 2022 ​ ​ July 31, 2022 ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ Notional ​ Asset ​ Liability ​ ​ Notional ​ Asset ​ Liability ​ ​ Notional ​ Asset ​ Liability Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps $ 1,500.0 $ 47.8 $ 2.5 ​ $ 1,950.0 $ 87.5 ​ ​ ​ $ 2,350.0 $ 58.8 $ .9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ 11,479.3 ​ 4.0 ​ 667.5 ​ ​ 9,448.9 ​ ​ $ 947.9 ​ ​ 7,600.0 ​ 23.0 ​ 390.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ 7,392.1 ​ 92.6 ​ 23.8 ​ ​ 3,931.3 ​ 75.5 ​ 25.2 ​ ​ 3,313.2 ​ 48.6 ​ 20.6 Foreign currency exchange contracts ​ 1,433.0 ​ 8.4 ​ 5.2 ​ ​ 1,069.0 ​ 1.3 ​ 14.1 ​ ​ 930.0 ​ 1.8 ​ 22.1 Cross-currency interest rate contracts ​ 155.2 ​ ​ ​ 24.5 ​ ​ 134.2 ​ 2.8 ​ 2.1 ​ ​ 125.7 ​ 4.0 ​ 1.1 Interest rate caps - sold ​ 1,433.8 ​ ​ ​ 25.1 ​ ​ 1,020.3 ​ ​ ​ 49.0 ​ ​ 1,144.8 ​ ​ ​ 33.9 Interest rate caps - purchased ​ 1,433.8 ​ 25.1 ​ ​ ​ ​ 1,020.3 ​ 49.0 ​ ​ ​ ​ 1,144.8 ​ 33.9 ​ ​ ​ The amount of gain recorded in OCI related to cash flow hedges at July 30, 2023 that is expected to be reclassified to interest expense in the next twelve months if interest rates remain unchanged is $34.4 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. ​ 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 ​ July 30, 2023 ​ Hedged Item ​ Hedging Adjustment ​ Hedged Item ​ Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 2,323.8 ​ $ 25.1 ​ Long-term external borrowings ​ $ 10,760.0 ​ $ (667.4) ​ ​ 6,319.1 ​ ​ (265.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ ​ ​ ​ ​ ​ $ 2,604.6 ​ $ 5.0 ​ Long-term external borrowings ​ ​ 7,178.1 ​ $ (385.9) ​ ​ 5,728.0 ​ ​ 39.5 ​ ​ ​ The classification and gains (losses), including accrued interest expense related to derivative instruments on the statements of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ July 30 ​ July 31 ​ July 30 ​ July 31 ​ 2023 2022 2023 2022 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ (356.2) ​ $ 145.5 ​ $ (124.8) ​ $ (483.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) $ 23.8 ​ $ .8 ​ $ 18.2 ​ $ 51.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense 18.3 ​ 3.6 ​ 54.5 ​ 2.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ 25.0 ​ $ (3.8) ​ $ 27.4 ​ $ 39.3 ​ Foreign currency exchange contracts - Administrative and operating expenses * (40.4) ​ 18.5 ​ ​ (100.2) ​ ​ 83.0 ​ Total not designated ​ $ (15.4) ​ $ 14.7 ​ $ (72.8) ​ $ 122.3 ​ * Includes interest and foreign currency exchange gains (losses) from cross-currency interest rate contracts. Included in the table above are interest expense and administrative and operating expense amounts the Company incurred on derivatives transacted with John Deere. The amounts the Company recognized on these affiliate party transactions for the three months ended July 30, 2023 and July 31, 2022 were a loss of $326.3 million and a gain of $145.2 million, respectively. The amounts the Company recognized on these affiliate party transactions for the nine months ended July 30, 2023 and July 31, 2022 were losses of $69.9 million and $432.3 million, respectively. None of the Company’s derivative agreements contain credit-risk-related contingent features. The Company has a loss sharing agreement with John Deere in which the Company has agreed to absorb any losses and expenses John Deere incurs if an unrelated external counterparty fails to meet its obligations on a derivative transaction that John Deere entered into to manage exposures of the Company. The loss sharing agreement did not increase the maximum amount of loss that the Company would incur, after considering collateral received and netting arrangements, as of July 30, 2023, October 30, 2022, and July 31, 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 8.4 ​ $ (.1) ​ ​ ​ ​ $ 8.3 ​ John Deere ​ 169.5 ​ ​ (108.5) ​ ​ ​ ​ 61.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 5.2 ​ (.1) ​ ​ ​ ​ 5.1 ​ John Deere ​ 743.4 ​ (108.5) ​ ​ ​ 634.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 1.8 ​ $ (.4) ​ ​ ​ ​ $ 1.4 ​ John Deere ​ 168.3 ​ ​ (105.3) ​ ​ ​ ​ 63.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 22.1 ​ (.4) ​ ​ ​ ​ 21.7 ​ John Deere ​ 446.6 ​ (105.3) ​ ​ ​ 341.3 ​ ​

Immaterial Restatement of Prior

Immaterial Restatement of Prior Period Financial Statements	9 Months Ended
	Jul. 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended July 31, 2022 ​ Nine Months Ended July 31, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income earned on retail notes $ 256.9 ​ $ 10.2 ​ $ 267.1 ​ $ 739.7 ​ $ 28.2 ​ $ 767.9 Lease revenues ​ 237.7 ​ ​ 1.5 ​ ​ 239.2 ​ ​ 715.7 ​ ​ 4.6 ​ ​ 720.3 Total revenues ​ 689.2 ​ ​ 11.7 ​ ​ 700.9 ​ ​ 1,983.5 ​ ​ 32.8 ​ ​ 2,016.3 Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ 106.7 ​ ​ 14.4 ​ ​ 121.1 ​ ​ 318.3 ​ ​ 47.4 ​ ​ 365.7 Total operating expenses ​ 318.6 ​ ​ 14.4 ​ ​ 333.0 ​ ​ 1,016.1 ​ ​ 47.4 ​ ​ 1,063.5 Total expenses ​ 456.0 ​ ​ 14.4 ​ ​ 470.4 ​ ​ 1,308.7 ​ ​ 47.4 ​ ​ 1,356.1 Income of Consolidated Group before Income Taxes ​ 233.2 ​ ​ (2.7) ​ ​ 230.5 ​ ​ 674.8 ​ ​ (14.6) ​ ​ 660.2 Provision for income taxes ​ 61.3 ​ ​ (.7) ​ ​ 60.6 ​ ​ 157.8 ​ ​ (3.4) ​ ​ 154.4 Income of Consolidated Group ​ 171.9 ​ ​ (2.0) ​ ​ 169.9 ​ ​ 517.0 ​ ​ (11.2) ​ ​ 505.8 Net Income ​ 172.5 ​ ​ (2.0) ​ ​ 170.5 ​ ​ 520.6 ​ ​ (11.2) ​ ​ 509.4 Net Income Attributable to the Company $ 172.5 ​ $ (2.0) ​ $ 170.5 ​ $ 520.7 ​ $ (11.2) ​ $ 509.5 ​ 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 ​ July 31, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes $ 22,860.3 ​ $ (61.3) ​ $ 22,799.0 ​ $ 22,262.8 ​ $ (54.0) ​ $ 22,208.8 Total receivables 42,502.9 ​ (61.3) ​ 42,441.6 ​ 40,534.9 ​ (54.0) ​ 40,480.9 Total receivables – net 42,374.5 ​ (61.3) ​ 42,313.2 ​ 40,407.6 ​ (54.0) ​ 40,353.6 Deferred income taxes 23.3 ​ 2.2 ​ 25.5 ​ 29.5 ​ 2.0 ​ 31.5 Total Assets $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 46,751.9 ​ $ (52.0) ​ $ 46,699.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholder’s Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses $ 866.1 ​ $ 91.2 ​ $ 957.3 ​ $ 870.2 ​ $ 99.0 ​ $ 969.2 Deferred income taxes 239.4 ​ (30.9) ​ 208.5 ​ 239.1 ​ (31.1) ​ 208.0 Total liabilities 44,123.1 ​ 60.3 ​ 44,183.4 ​ 42,065.9 ​ 67.9 ​ 42,133.8 Stockholder’s equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings 3,425.3 ​ (119.4) ​ 3,305.9 ​ 3,301.7 ​ (119.9) ​ 3,181.8 Total Company stockholder’s equity 4,803.4 ​ (119.4) ​ 4,684.0 ​ 4,684.3 ​ (119.9) ​ 4,564.4 Total stockholder’s equity 4,804.9 ​ (119.4) ​ 4,685.5 ​ 4,686.0 ​ (119.9) ​ 4,566.1 Total Liabilities and Stockholder’s Equity $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 46,751.9 ​ $ (52.0) ​ $ 46,699.9 ​ The prior period impacts to the Company’s statement of consolidated cash flows were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 520.6 ​ $ (11.2) ​ $ 509.4 Adjustments to reconcile net income to net cash ​ ​ ​ ​ ​ ​ ​ ​ provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ Credit for deferred income taxes ​ (32.8) ​ ​ (3.3) ​ ​ (36.1) Change in accounts payable and accrued expenses ​ (20.5) ​ ​ 5.4 ​ ​ (15.1) Other ​ (128.8) ​ ​ 9.1 ​ ​ (119.7) Net cash provided by operating activities $ 898.1 ​ $ ​ ​ $ 898.1 ​ ​

Subsequent Events

Subsequent Events	9 Months Ended
	Jul. 30, 2023
Subsequent Events
Subsequent Events	(13) Subsequent Events On August 28, 2023, Capital Corporation declared a $165.0 million dividend to be paid to JDFS on September 14, 2023. JDFS, in turn, declared a $165.0 million dividend to Deere & Company, also payable on September 14, 2023.

Organization and Consolidation

Organization and Consolidation (Policies)	9 Months Ended
	Jul. 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 third quarter ends for fiscal years 2023 and 2022 were July 30, 2023 and July 31, 2022, respectively. Both third quarters contained 13 weeks, while both year-to-date periods contained 39 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 collection is 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 ​ Nine Months Ended ​ ​ ​ July 30 ​ July 31 ​ July 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Accrued finance income and lease revenue reversed ​ $ 4.5 ​ $ 2.0 ​ $ 12.4 ​ $ 8.8 Finance income and lease revenue recognized on cash payments ​ ​ 5.6 ​ ​ 4.8 ​ ​ 13.3 ​ ​ 11.8 ​ ​ 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.

Other Comprehensive Income It_2

Other Comprehensive Income Items (Tables)	9 Months Ended
	Jul. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2022 Cumulative translation adjustment ​ $ (99.8) ​ $ (169.0) ​ $ (143.2) Unrealized gain on derivatives ​ ​ 38.1 ​ ​ 66.8 ​ ​ 45.3 Unrealized loss on debt securities ​ ​ (2.2) ​ ​ (2.5) ​ ​ (2.3) Total accumulated other comprehensive income (loss) ​ $ (63.9) ​ $ (104.7) ​ $ (100.2)
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 July 30, 2023 ​ ​ ​ ​ ​ ​ Cumulative translation adjustment $ 4.0 ​ ​ ​ ​ $ 4.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 23.8 ​ $ (5.0) ​ 18.8 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (18.3) ​ ​ 3.8 ​ ​ (14.5) ​ Net unrealized gain (loss) on derivatives ​ 5.5 ​ (1.2) ​ 4.3 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .5 ​ ​ (.2) ​ ​ .3 ​ Total other comprehensive income (loss) ​ $ 10.0 ​ $ (1.4) ​ $ 8.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended July 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 69.2 ​ ​ ​ ​ $ 69.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 18.2 ​ $ (3.8) ​ 14.4 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (54.5) ​ ​ 11.4 ​ ​ (43.1) ​ Net unrealized gain (loss) on derivatives ​ (36.3) ​ 7.6 ​ (28.7) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .5 ​ ​ (.2) ​ ​ .3 ​ Total other comprehensive income (loss) ​ $ 33.4 ​ $ 7.4 ​ $ 40.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (18.1) ​ ​ ​ ​ $ (18.1) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ .8 ​ $ (.2) ​ .6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (3.6) ​ ​ .8 ​ ​ (2.8) ​ Net unrealized gain (loss) on derivatives ​ (2.8) ​ ​ .6 ​ (2.2) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.3) ​ ​ .1 ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (21.2) ​ $ .7 ​ $ (20.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (88.7) ​ ​ ​ ​ $ (88.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 51.4 ​ $ (10.8) ​ 40.6 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (2.7) ​ ​ .6 ​ (2.1) ​ Net unrealized gain (loss) on derivatives ​ 48.7 ​ (10.2) ​ 38.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.9) ​ ​ .3 ​ ​ (.6) ​ Total other comprehensive income (loss) ​ $ (40.9) ​ $ (9.9) ​ $ (50.8) ​

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Jul. 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 ​ Nine Months Ended ​ ​ ​ July 30 ​ July 31 ​ July 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Accrued finance income and lease revenue reversed ​ $ 4.5 ​ $ 2.0 ​ $ 12.4 ​ $ 8.8 Finance income and lease revenue recognized on cash payments ​ ​ 5.6 ​ ​ 4.8 ​ ​ 13.3 ​ ​ 11.8 ​
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 ​ ​ July 30, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 103.2 ​ $ 19.3 ​ $ 11.2 ​ $ 133.7 ​ Provision for credit losses* ​ 11.2 ​ ​ 10.6 ​ ​ .5 ​ ​ 22.3 ​ Write-offs ​ (18.5) ​ ​ (18.2) ​ ​ ​ ​ ​ (36.7) ​ Recoveries ​ 3.3 ​ ​ 5.8 ​ ​ ​ ​ ​ 9.1 ​ Translation adjustments ​ .2 ​ ​ ​ ​ ​ .2 ​ ​ .4 ​ End of period balance ​ $ 99.4 ​ $ 17.5 ​ $ 11.9 ​ $ 128.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ July 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 for credit losses* ​ 36.6 ​ ​ 15.1 ​ ​ .2 ​ ​ 51.9 ​ Write-offs ​ (43.0) ​ ​ (36.2) ​ ​ (.1) ​ ​ (79.3) ​ Recoveries ​ 9.9 ​ ​ 16.7 ​ ​ .6 ​ ​ 27.2 ​ Translation adjustments ​ .5 ​ ​ ​ ​ ​ .1 ​ ​ .6 ​ End of period balance ​ $ 99.4 ​ $ 17.5 ​ $ 11.9 ​ $ 128.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 31,733.8 ​ $ 4,437.5 ​ $ 14,027.6 ​ $ 50,198.9 ​ ​ * The allowance for credit losses decreased slightly in the third quarter as strong fundamentals within the agriculture market continued to benefit the portfolio. The allowance for the first nine months of 2023 was relatively flat as higher portfolio balances and higher expected losses on turf and construction customer accounts offset the favorable benefits related to agricultural customer accounts. 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 ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 95.9 ​ $ 17.4 ​ $ 11.2 ​ $ 124.5 ​ Provision for credit losses* ​ 5.2 ​ ​ 3.2 ​ ​ ​ ​ ​ 8.4 ​ Write-offs ​ (6.1) ​ ​ (10.5) ​ ​ ​ ​ ​ (16.6) ​ Recoveries ​ 4.1 ​ ​ 7.3 ​ ​ ​ ​ ​ 11.4 ​ Translation adjustments ​ (.3) ​ ​ (.1) ​ ​ ​ ​ ​ (.4) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ July 31, 2022 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ Provision (credit) for credit losses* ​ 24.0 ​ ​ (3.7) ​ ​ .3 ​ ​ 20.6 ​ Write-offs ​ (31.9) ​ ​ (22.0) ​ ​ (.2) ​ ​ (54.1) ​ Recoveries ​ 10.7 ​ ​ 22.2 ​ ​ ​ ​ ​ 32.9 ​ Translation adjustments ​ (.5) ​ ​ ​ ​ ​ (.6) ​ ​ (1.1) ​ End of period balance ​ $ 98.8 ​ $ 17.3 ​ $ 11.2 ​ $ 127.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 28,325.7 ​ $ 4,003.9 ​ $ 8,151.3 ​ $ 40,480.9 ​ ​ *
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ ​ July 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ Number of Receivable contracts ​ ​ 92 ​ ​ 175 Pre-modification balance ​ $ 3.5 ​ $ 6.5 ​ Post-modification balance ​ ​ 3.4 ​ ​ 5.3 ​
Customer Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of Customer Receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 9,040.7 ​ $ 8,355.6 ​ $ 5,064.2 ​ $ 2,361.3 ​ $ 858.2 ​ $ 282.6 ​ $ 4,284.0 ​ $ 30,246.6 30-59 days past due ​ ​ 52.9 ​ ​ 73.3 ​ ​ 43.5 ​ ​ 20.4 ​ ​ 10.2 ​ ​ 3.4 ​ ​ 19.4 ​ ​ 223.1 60-89 days past due ​ ​ 17.2 ​ ​ 25.6 ​ ​ 13.2 ​ ​ 7.5 ​ ​ 3.9 ​ ​ 1.1 ​ ​ 5.6 ​ ​ 74.1 90+ days past due ​ ​ .1 ​ ​ .7 ​ ​ .4 ​ ​ .1 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ 1.4 Non-performing ​ ​ 12.9 ​ ​ 55.0 ​ ​ 45.4 ​ ​ 24.9 ​ ​ 13.2 ​ ​ 13.8 ​ ​ 8.3 ​ ​ 173.5 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,725.5 ​ ​ 1,757.6 ​ ​ 1,006.8 ​ ​ 351.7 ​ ​ 96.5 ​ ​ 36.0 ​ ​ 113.0 ​ ​ 5,087.1 30-59 days past due ​ ​ 35.0 ​ ​ 38.4 ​ ​ 34.9 ​ ​ 11.8 ​ ​ 4.8 ​ ​ 1.3 ​ ​ 4.3 ​ ​ 130.5 60-89 days past due ​ ​ 12.5 ​ ​ 20.1 ​ ​ 13.3 ​ ​ 7.6 ​ ​ 1.9 ​ ​ 1.0 ​ ​ 1.5 ​ ​ 57.9 90+ days past due ​ ​ ​ ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .3 Non-performing ​ ​ 15.9 ​ ​ 68.5 ​ ​ 55.2 ​ ​ 23.0 ​ ​ 8.3 ​ ​ 4.5 ​ ​ 1.4 ​ ​ 176.8 Total ​ $ 10,912.7 ​ $ 10,395.1 ​ $ 6,276.9 ​ $ 2,808.3 ​ $ 997.0 ​ $ 343.8 ​ $ 4,437.5 ​ $ 36,171.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,116.1 ​ $ 7,998.4 ​ $ 4,017.9 ​ $ 1,815.7 ​ $ 740.8 ​ $ 256.4 ​ $ 3,868.8 ​ $ 26,814.1 30-59 days past due ​ ​ 34.5 ​ ​ 55.4 ​ ​ 28.9 ​ ​ 16.9 ​ ​ 6.9 ​ ​ 2.9 ​ ​ 17.0 ​ ​ 162.5 60-89 days past due ​ ​ 14.0 ​ ​ 18.0 ​ ​ 10.9 ​ ​ 5.1 ​ ​ 2.0 ​ ​ .9 ​ ​ 4.2 ​ ​ 55.1 90+ days past due ​ ​ ​ ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ .5 Non-performing ​ ​ 16.0 ​ ​ 40.3 ​ ​ 29.6 ​ ​ 16.6 ​ ​ 12.8 ​ ​ 12.2 ​ ​ 6.6 ​ ​ 134.1 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,868.7 ​ ​ 1,712.0 ​ ​ 772.5 ​ ​ 297.7 ​ ​ 82.4 ​ ​ 17.2 ​ ​ 103.2 ​ ​ 4,853.7 30-59 days past due ​ ​ 40.0 ​ ​ 45.5 ​ ​ 22.1 ​ ​ 11.3 ​ ​ 3.4 ​ ​ 1.1 ​ ​ 2.6 ​ ​ 126.0 60-89 days past due ​ ​ 11.9 ​ ​ 13.0 ​ ​ 11.1 ​ ​ 4.1 ​ ​ 1.0 ​ ​ .3 ​ ​ .7 ​ ​ 42.1 90+ days past due ​ ​ ​ ​ ​ 7.3 ​ ​ 2.1 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.8 Non-performing ​ ​ 8.1 ​ ​ 50.6 ​ ​ 40.9 ​ ​ 20.2 ​ ​ 7.3 ​ ​ 3.8 ​ ​ .8 ​ ​ 131.7 Total ​ $ 10,109.3 ​ $ 9,940.7 ​ $ 4,936.2 ​ $ 2,188.0 ​ $ 856.7 ​ $ 294.8 ​ $ 4,003.9 ​ $ 32,329.6
Wholesale Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of wholesale receivables by year of origination was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 444.6 ​ $ 138.5 ​ $ 26.3 ​ $ 6.8 ​ $ 1.3 ​ $ 1.0 ​ $ 10,555.3 ​ $ 11,173.8 30+ days past due ​ ​ .3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 21.2 ​ ​ 21.5 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.2 ​ ​ 6.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 18.8 ​ ​ 3.2 ​ ​ 22.3 ​ ​ .3 ​ ​ .2 ​ ​ ​ ​ ​ 2,768.3 ​ ​ 2,813.1 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13.0 ​ ​ 13.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 463.7 ​ $ 141.7 ​ $ 48.6 ​ $ 7.1 ​ $ 1.5 ​ $ 1.0 ​ $ 13,364.0 ​ $ 14,027.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 286.0 ​ $ 96.3 ​ $ 32.7 ​ $ 5.9 ​ $ .8 ​ $ 1.6 ​ $ 6,347.8 ​ $ 6,771.1 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10.6 ​ ​ 10.6 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.6 ​ ​ 5.6 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 8.4 ​ ​ 31.5 ​ ​ 1.7 ​ ​ .7 ​ ​ .2 ​ ​ ​ ​ ​ 1,318.5 ​ ​ 1,361.0 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 ​ ​ 3.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 294.4 ​ $ 127.8 ​ $ 34.4 ​ $ 6.6 ​ $ 1.0 ​ $ 1.6 ​ $ 7,685.5 ​ $ 8,151.3

Securitization of Receivables (

Securitization of Receivables (Tables)	9 Months Ended
	Jul. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2022 Retail notes securitized ​ $ 7,018.7 ​ $ 5,951.6 ​ $ 5,154.1 ​ Allowance for credit losses ​ (17.4) ​ (15.7) ​ (14.7) ​ Other assets (primarily restricted cash) ​ 152.8 ​ 155.2 ​ 136.2 ​ Total restricted securitized assets ​ $ 7,154.1 ​ $ 6,091.1 ​ $ 5,275.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 6,608.4 ​ $ 5,710.9 ​ $ 4,918.5 ​ Accrued interest on borrowings ​ 15.1 ​ 6.1 ​ 3.4 ​ Total liabilities related to restricted securitized assets ​ $ 6,623.5 ​ $ 5,717.0 ​ $ 4,921.9 ​

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jul. 30, 2023
Leases
Schedule of Lease Revenues Earned	Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ July 30 ​ July 31 ​ July 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 Sales-type and direct financing lease revenues ​ $ 25.2 ​ $ 14.7 ​ $ 63.6 ​ $ 40.2 Operating lease revenues ​ ​ 224.9 ​ ​ 219.4 ​ ​ 660.6 ​ ​ 664.4 Variable lease revenues ​ .1 ​ 5.6 ​ 10.3 ​ 17.6 Total lease revenues ​ $ 250.2 ​ $ 239.7 ​ $ 734.5 ​ $ 722.2 ​ 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 $.1 million and $1.3 million for the third quarter and first nine months ended July 30, 2023, respectively, compared with $.5 million and $1.9 million for the same periods last year, respectively.
Schedule of Cost of Equipment on Operating Leases by Market	The cost of equipment on operating leases by market was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ 2023 ​ 2022 ​ 2022 Agriculture and turf ​ $ 5,049.1 ​ $ 5,017.3 ​ $ 4,951.3 Construction and forestry ​ ​ 1,054.2 ​ 1,138.0 ​ ​ 1,178.9 Total ​ ​ 6,103.3 ​ ​ 6,155.3 ​ ​ 6,130.2 Accumulated depreciation ​ (1,265.8) ​ ​ (1,301.8) ​ ​ (1,352.7) Equipment on operating leases – net ​ $ 4,837.5 ​ $ 4,853.5 ​ $ 4,777.5

Notes Receivable from and Pay_2

Notes Receivable from and Payable to John Deere (Tables)	9 Months Ended
	Jul. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Banco John Deere S.A. ​ $ 648.1 ​ $ 370.0 ​ $ 270.4 ​ John Deere Agricultural Holdings, Inc. ​ ​ ​ ​ .7 ​ ​ 8.8 ​ Total Notes Receivable from John Deere ​ $ 648.1 ​ $ 370.7 ​ $ 279.2 ​

Long-Term External Borrowings (

Long-Term External Borrowings (Tables)	9 Months Ended
	Jul. 30, 2023
Long-Term External Borrowings
Long-Term Borrowings	Long-term external borrowings of the Company at July 30, 2023, October 30, 2022, and July 31, 2022 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 ​ October 30 ​ July 31 ​ ​ ​ 2023 ​ 2022 ​ 2022 ​ Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 27,487.6 ​ $ 22,595.4 ​ $ 20,450.3 ​ Other notes ​ ​ .2 ​ ​ 2.5 ​ ​ 2.9 ​ Total senior debt ​ ​ 27,487.8 ​ ​ 22,597.9 ​ ​ 20,453.2 ​ Unamortized debt discount and debt issuance costs ​ ​ (79.8) ​ ​ (70.1) ​ ​ (59.6) ​ Total ​ $ 27,408.0 ​ $ 22,527.8 ​ $ 20,393.6 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jul. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ October 30, 2022 ​ July 31, 2022 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 43,068.8 ​ $ 42,654.1 ​ $ 36,377.3 ​ $ 35,562.4 ​ $ 35,214.2 ​ $ 34,617.9 ​ Retail notes securitized – net ​ 7,001.3 ​ 6,817.7 ​ 5,935.9 ​ ​ 5,696.3 ​ 5,139.4 ​ 4,988.8 ​ Securitization borrowings ​ 6,608.4 ​ ​ 6,538.4 ​ 5,710.9 ​ ​ 5,576.6 ​ 4,918.5 ​ 4,861.4 ​ Current maturities of long- ​ 5,091.2 ​ ​ 4,947.7 ​ 5,989.6 ​ ​ 5,887.7 ​ 6,476.7 ​ 6,426.0 ​ Long-term external ​ 27,408.0 ​ 27,135.5 ​ 22,527.8 ​ ​ 21,792.7 ​ 20,393.6 ​ 20,087.6 ​ ​ Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings.
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30 October 30 July 31 ​ ​ 2023 ​ 2022 ​ 2022 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.8 ​ $ 1.1 ​ $ 1.3 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 169.5 ​ ​ 214.8 ​ ​ 168.3 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 8.4 ​ 1.3 ​ 1.8 ​ Total assets ​ $ 179.7 ​ $ 217.2 ​ $ 171.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 743.4 ​ $ 1,024.2 ​ $ 446.6 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 5.2 ​ 14.1 ​ 22.1 ​ Total liabilities ​ $ 748.6 ​ $ 1,038.3 ​ $ 468.7 ​ All fair value measurements in the table above were Level 2. Excluded from the table above were the Company’s cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of time deposits and money market funds.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Jul. 30, 2023
Derivative Instruments
Fair Value of Derivative Instruments in Consolidated Balance Sheet and Associated Notional Amounts	The fair value of the Company’s derivative instruments and the associated notional amounts were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ October 30, 2022 ​ ​ July 31, 2022 ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ Notional ​ Asset ​ Liability ​ ​ Notional ​ Asset ​ Liability ​ ​ Notional ​ Asset ​ Liability Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps $ 1,500.0 $ 47.8 $ 2.5 ​ $ 1,950.0 $ 87.5 ​ ​ ​ $ 2,350.0 $ 58.8 $ .9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ 11,479.3 ​ 4.0 ​ 667.5 ​ ​ 9,448.9 ​ ​ $ 947.9 ​ ​ 7,600.0 ​ 23.0 ​ 390.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ 7,392.1 ​ 92.6 ​ 23.8 ​ ​ 3,931.3 ​ 75.5 ​ 25.2 ​ ​ 3,313.2 ​ 48.6 ​ 20.6 Foreign currency exchange contracts ​ 1,433.0 ​ 8.4 ​ 5.2 ​ ​ 1,069.0 ​ 1.3 ​ 14.1 ​ ​ 930.0 ​ 1.8 ​ 22.1 Cross-currency interest rate contracts ​ 155.2 ​ ​ ​ 24.5 ​ ​ 134.2 ​ 2.8 ​ 2.1 ​ ​ 125.7 ​ 4.0 ​ 1.1 Interest rate caps - sold ​ 1,433.8 ​ ​ ​ 25.1 ​ ​ 1,020.3 ​ ​ ​ 49.0 ​ ​ 1,144.8 ​ ​ ​ 33.9 Interest rate caps - purchased ​ 1,433.8 ​ 25.1 ​ ​ ​ ​ 1,020.3 ​ 49.0 ​ ​ ​ ​ 1,144.8 ​ 33.9 ​ ​
Amounts Recorded in the Consolidated Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Hedging Relationships ​ Discontinued Hedging Relationships ​ ​ ​ Carrying ​ Cumulative ​ Carrying Amount ​ Cumulative ​ ​ ​ Amount of ​ Fair Value ​ of Formerly ​ Fair Value ​ July 30, 2023 ​ Hedged Item ​ Hedging Adjustment ​ Hedged Item ​ Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 2,323.8 ​ $ 25.1 ​ Long-term external borrowings ​ $ 10,760.0 ​ $ (667.4) ​ ​ 6,319.1 ​ ​ (265.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term external borrowings ​ $ ​ ​ ​ ​ ​ $ 2,604.6 ​ $ 5.0 ​ Long-term external borrowings ​ ​ 7,178.1 ​ $ (385.9) ​ ​ 5,728.0 ​ ​ 39.5 ​
Gains (Losses) Related to Derivative Instruments on Statement of Consolidated Income	The classification and gains (losses), including accrued interest expense related to derivative instruments on the statements of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ July 30 ​ July 31 ​ July 30 ​ July 31 ​ 2023 2022 2023 2022 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ (356.2) ​ $ 145.5 ​ $ (124.8) ​ $ (483.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) $ 23.8 ​ $ .8 ​ $ 18.2 ​ $ 51.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense 18.3 ​ 3.6 ​ 54.5 ​ 2.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ 25.0 ​ $ (3.8) ​ $ 27.4 ​ $ 39.3 ​ Foreign currency exchange contracts - Administrative and operating expenses * (40.4) ​ 18.5 ​ ​ (100.2) ​ ​ 83.0 ​ Total not designated ​ $ (15.4) ​ $ 14.7 ​ $ (72.8) ​ $ 122.3 ​ * Includes interest and foreign currency exchange gains (losses) from cross-currency interest rate contracts.
Impact on Derivative Assets and Liabilities for External Derivatives and those with John Deere Related to Netting Arrangements and Collateral	Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities for external derivatives and those with John Deere related to netting arrangements and any collateral received or paid were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 8.4 ​ $ (.1) ​ ​ ​ ​ $ 8.3 ​ John Deere ​ 169.5 ​ ​ (108.5) ​ ​ ​ ​ 61.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 5.2 ​ (.1) ​ ​ ​ ​ 5.1 ​ John Deere ​ 743.4 ​ (108.5) ​ ​ ​ 634.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 1.8 ​ $ (.4) ​ ​ ​ ​ $ 1.4 ​ John Deere ​ 168.3 ​ ​ (105.3) ​ ​ ​ ​ 63.0 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 22.1 ​ (.4) ​ ​ ​ ​ 21.7 ​ John Deere ​ 446.6 ​ (105.3) ​ ​ ​ 341.3 ​

Immaterial Restatement of Pri_2

Immaterial Restatement of Prior Period Financial Statements (Tables)	9 Months Ended
	Jul. 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). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended July 31, 2022 ​ Nine Months Ended July 31, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income earned on retail notes $ 256.9 ​ $ 10.2 ​ $ 267.1 ​ $ 739.7 ​ $ 28.2 ​ $ 767.9 Lease revenues ​ 237.7 ​ ​ 1.5 ​ ​ 239.2 ​ ​ 715.7 ​ ​ 4.6 ​ ​ 720.3 Total revenues ​ 689.2 ​ ​ 11.7 ​ ​ 700.9 ​ ​ 1,983.5 ​ ​ 32.8 ​ ​ 2,016.3 Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ 106.7 ​ ​ 14.4 ​ ​ 121.1 ​ ​ 318.3 ​ ​ 47.4 ​ ​ 365.7 Total operating expenses ​ 318.6 ​ ​ 14.4 ​ ​ 333.0 ​ ​ 1,016.1 ​ ​ 47.4 ​ ​ 1,063.5 Total expenses ​ 456.0 ​ ​ 14.4 ​ ​ 470.4 ​ ​ 1,308.7 ​ ​ 47.4 ​ ​ 1,356.1 Income of Consolidated Group before Income Taxes ​ 233.2 ​ ​ (2.7) ​ ​ 230.5 ​ ​ 674.8 ​ ​ (14.6) ​ ​ 660.2 Provision for income taxes ​ 61.3 ​ ​ (.7) ​ ​ 60.6 ​ ​ 157.8 ​ ​ (3.4) ​ ​ 154.4 Income of Consolidated Group ​ 171.9 ​ ​ (2.0) ​ ​ 169.9 ​ ​ 517.0 ​ ​ (11.2) ​ ​ 505.8 Net Income ​ 172.5 ​ ​ (2.0) ​ ​ 170.5 ​ ​ 520.6 ​ ​ (11.2) ​ ​ 509.4 Net Income Attributable to the Company $ 172.5 ​ $ (2.0) ​ $ 170.5 ​ $ 520.7 ​ $ (11.2) ​ $ 509.5 ​ 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 ​ July 31, 2022 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes $ 22,860.3 ​ $ (61.3) ​ $ 22,799.0 ​ $ 22,262.8 ​ $ (54.0) ​ $ 22,208.8 Total receivables 42,502.9 ​ (61.3) ​ 42,441.6 ​ 40,534.9 ​ (54.0) ​ 40,480.9 Total receivables – net 42,374.5 ​ (61.3) ​ 42,313.2 ​ 40,407.6 ​ (54.0) ​ 40,353.6 Deferred income taxes 23.3 ​ 2.2 ​ 25.5 ​ 29.5 ​ 2.0 ​ 31.5 Total Assets $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 46,751.9 ​ $ (52.0) ​ $ 46,699.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholder’s Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses $ 866.1 ​ $ 91.2 ​ $ 957.3 ​ $ 870.2 ​ $ 99.0 ​ $ 969.2 Deferred income taxes 239.4 ​ (30.9) ​ 208.5 ​ 239.1 ​ (31.1) ​ 208.0 Total liabilities 44,123.1 ​ 60.3 ​ 44,183.4 ​ 42,065.9 ​ 67.9 ​ 42,133.8 Stockholder’s equity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings 3,425.3 ​ (119.4) ​ 3,305.9 ​ 3,301.7 ​ (119.9) ​ 3,181.8 Total Company stockholder’s equity 4,803.4 ​ (119.4) ​ 4,684.0 ​ 4,684.3 ​ (119.9) ​ 4,564.4 Total stockholder’s equity 4,804.9 ​ (119.4) ​ 4,685.5 ​ 4,686.0 ​ (119.9) ​ 4,566.1 Total Liabilities and Stockholder’s Equity $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ $ 46,751.9 ​ $ (52.0) ​ $ 46,699.9 ​ The prior period impacts to the Company’s statement of consolidated cash flows were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 31, 2022 ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 520.6 ​ $ (11.2) ​ $ 509.4 Adjustments to reconcile net income to net cash ​ ​ ​ ​ ​ ​ ​ ​ provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ Credit for deferred income taxes ​ (32.8) ​ ​ (3.3) ​ ​ (36.1) Change in accounts payable and accrued expenses ​ (20.5) ​ ​ 5.4 ​ ​ (15.1) Other ​ (128.8) ​ ​ 9.1 ​ ​ (119.7) Net cash provided by operating activities $ 898.1 ​ $ ​ ​ $ 898.1

Organization and Consolidatio_2

Organization and Consolidation (Details)	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Fiscal Year
Fiscal period duration	91 days	91 days	273 days	273 days

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and New Accounting Standards (Details)	Jul. 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	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 5,960.1	$ 4,684	$ 4,564.4
Accumulated Other Comprehensive Income (Loss)
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(63.9)	(104.7)	(100.2)
Cumulative Translation Adjustment
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(99.8)	(169)	(143.2)
Unrealized Gain (Loss) on Derivatives
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	38.1	66.8	45.3
Unrealized Gain (Loss) on Debt Securities
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (2.2)	$ (2.5)	$ (2.3)

Other Comprehensive Income It_4

Other Comprehensive Income Items - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Other comprehensive income (loss), before tax
Interest expense	$ (445.3)	$ (137.4)	$ (1,121.6)	$ (292.6)
Total other comprehensive income (loss), before tax	10	(21.2)	33.4	(40.9)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	(1.4)	0.7	7.4	(9.9)
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	8.6	(20.5)	40.8	(50.8)
Cumulative Translation Adjustment
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	4	(18.1)	69.2	(88.7)
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	4	(18.1)	69.2	(88.7)
Unrealized Gain (Loss) on Derivatives
Other comprehensive income (loss), before tax
Other comprehensive income (loss) before reclassification, before tax	23.8	0.8	18.2	51.4
Total other comprehensive income (loss), before tax	5.5	(2.8)	(36.3)	48.7
Other comprehensive income (loss), tax (expense) credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(5)	(0.2)	(3.8)	(10.8)
Total other comprehensive income (loss), tax (expense) credit	(1.2)	0.6	7.6	(10.2)
Other comprehensive income (loss), after tax
Other comprehensive income (loss) before reclassification, after tax	18.8	0.6	14.4	40.6
Other comprehensive income (loss), net of income taxes	4.3	(2.2)	(28.7)	38.5
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	(18.3)	(3.6)	(54.5)	(2.7)
Other comprehensive income (loss), tax (expense) credit
Reclassification of realized (gain) loss, tax expense (credit)	3.8	0.8	11.4	0.6
Other comprehensive income (loss), after tax
Reclassification of realized (gain) loss, after tax	(14.5)	(2.8)	(43.1)	(2.1)
Unrealized Gain (Loss) on Debt Securities
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	0.5	(0.3)	0.5	(0.9)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	(0.2)	0.1	(0.2)	0.3
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	$ 0.3	$ (0.2)	$ 0.3	$ (0.6)

Receivables - Financing Receiva

Receivables - Financing Receivables Past Due (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 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	$ 4.5	$ 2	$ 12.4	$ 8.8
Finance income and lease revenue recognized on cash payments	$ 5.6	$ 4.8	$ 13.3	$ 11.8
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	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Allowance for Credit Losses and Credit Quality of Receivables
Total	$ 50,198.9	$ 42,441.6	$ 40,480.9
Customer Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	10,912.7	14,269	10,109.3
2022 and 2021, respectively	10,395.1	8,684.6	9,940.7
2021 and 2020, respectively	6,276.9	4,263.6	4,936.2
2020 and 2019, respectively	2,808.3	1,807	2,188
2019 and 2018, respectively	997	666.1	856.7
Prior years	343.8	181	294.8
Revolving	4,437.5	4,165.8	4,003.9
Total	36,171.3	34,037.1	32,329.6
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	52.9	40.1	34.5
2022 and 2021, respectively	73.3	55.8	55.4
2021 and 2020, respectively	43.5	31.4	28.9
2020 and 2019, respectively	20.4	15	16.9
2019 and 2018, respectively	10.2	6.4	6.9
Prior years	3.4	2.7	2.9
Revolving	19.4	18.4	17
Total	223.1	169.8	162.5
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	17.2	11.8	14
2022 and 2021, respectively	25.6	19.5	18
2021 and 2020, respectively	13.2	10.8	10.9
2020 and 2019, respectively	7.5	4.4	5.1
2019 and 2018, respectively	3.9	2	2
Prior years	1.1	1.1	0.9
Revolving	5.6	4.5	4.2
Total	74.1	54.1	55.1
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	0.1	0.4
2022 and 2021, respectively	0.7	0.2	0.2
2021 and 2020, respectively	0.4	0.2	0.2
2020 and 2019, respectively	0.1
2019 and 2018, respectively			0.1
Prior years	0.1
Total	1.4	0.8	0.5
Customer Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	9,040.7	11,736.1	8,116.1
2022 and 2021, respectively	8,355.6	6,939.9	7,998.4
2021 and 2020, respectively	5,064.2	3,479.6	4,017.9
2020 and 2019, respectively	2,361.3	1,515.8	1,815.7
2019 and 2018, respectively	858.2	581.3	740.8
Prior years	282.6	152.9	256.4
Revolving	4,284	4,022.7	3,868.8
Total	30,246.6	28,428.3	26,814.1
Customer Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	12.9	24.7	16
2022 and 2021, respectively	55	38.4	40.3
2021 and 2020, respectively	45.4	29.2	29.6
2020 and 2019, respectively	24.9	13.7	16.6
2019 and 2018, respectively	13.2	11.2	12.8
Prior years	13.8	10.2	12.2
Revolving	8.3	7.8	6.6
Total	173.5	135.2	134.1
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	35	44.5	40
2022 and 2021, respectively	38.4	40.6	45.5
2021 and 2020, respectively	34.9	20.7	22.1
2020 and 2019, respectively	11.8	7.6	11.3
2019 and 2018, respectively	4.8	1.8	3.4
Prior years	1.3	0.6	1.1
Revolving	4.3	3.1	2.6
Total	130.5	118.9	126
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	12.5	18.1	11.9
2022 and 2021, respectively	20.1	11.4	13
2021 and 2020, respectively	13.3	6	11.1
2020 and 2019, respectively	7.6	3	4.1
2019 and 2018, respectively	1.9	0.7	1
Prior years	1	0.1	0.3
Revolving	1.5	1	0.7
Total	57.9	40.3	42.1
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
2022 and 2021, respectively	0.3	1.3	7.3
2021 and 2020, respectively			2.1
2020 and 2019, respectively		1.4	0.4
Total	0.3	3	9.8
Customer Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	1,725.5	2,373.7	1,868.7
2022 and 2021, respectively	1,757.6	1,526.3	1,712
2021 and 2020, respectively	1,006.8	658.1	772.5
2020 and 2019, respectively	351.7	230.7	297.7
2019 and 2018, respectively	96.5	57.2	82.4
Prior years	36	10.5	17.2
Revolving	113	107.7	103.2
Total	5,087.1	4,964.2	4,853.7
Customer Receivables | Construction and forestry | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	15.9	19.3	8.1
2022 and 2021, respectively	68.5	51.2	50.6
2021 and 2020, respectively	55.2	27.6	40.9
2020 and 2019, respectively	23	15.4	20.2
2019 and 2018, respectively	8.3	5.5	7.3
Prior years	4.5	2.9	3.8
Revolving	1.4	0.6	0.8
Total	$ 176.8	$ 122.5	$ 131.7

Receivables - Wholesale Receiva

Receivables - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Allowance for Credit Losses and Credit Quality of Receivables
Total	$ 50,198.9	$ 42,441.6	$ 40,480.9
Wholesale Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	463.7	386.1	294.4
2022 and 2021, respectively	141.7	91	127.8
2021 and 2020, respectively	48.6	26.4	34.4
2020 and 2019, respectively	7.1	4.2	6.6
2019 and 2018, respectively	1.5	0.4	1
Prior years	1	1.1	1.6
Revolving	13,364	7,895.3	7,685.5
Total	14,027.6	8,404.5	8,151.3
Wholesale Receivables | Agriculture and turf | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	0.3
2022 and 2021, respectively		0.1
Revolving	21.2	8.3	10.6
Total	21.5	8.4	10.6
Wholesale Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	444.6	381.3	286
2022 and 2021, respectively	138.5	62.7	96.3
2021 and 2020, respectively	26.3	25	32.7
2020 and 2019, respectively	6.8	3.8	5.9
2019 and 2018, respectively	1.3	0.3	0.8
Prior years	1	1.1	1.6
Revolving	10,555.3	6,238.1	6,347.8
Total	11,173.8	6,712.3	6,771.1
Wholesale Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	6.2	5.5	5.6
Total	6.2	5.5	5.6
Wholesale Receivables | Construction and forestry | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	13	9.6	3
Total	13	9.6	3
Wholesale Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	18.8	4.8	8.4
2022 and 2021, respectively	3.2	28.2	31.5
2021 and 2020, respectively	22.3	1.4	1.7
2020 and 2019, respectively	0.3	0.4	0.7
2019 and 2018, respectively	0.2	0.1	0.2
Revolving	2,768.3	1,633.8	1,318.5
Total	$ 2,813.1	$ 1,668.7	$ 1,361

Receivables - Allowance for Cre

Receivables - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022	Oct. 30, 2022
Receivable, Allowance for Credit Losses
Recoveries from freestanding credit enhancements	$ 3.4	$ 2.4	$ 9.2	$ 5.4
Allowance:
Beginning of period balance	133.7	124.5	128.4	129
Provision (credit) for credit losses	22.3	8.4	51.9	20.6
Write-offs	(36.7)	(16.6)	(79.3)	(54.1)
Recoveries	9.1	11.4	27.2	32.9
Translation adjustments	0.4	(0.4)	0.6	(1.1)
End of period year balance	128.8	127.3	128.8	127.3
Receivables:
End of period balance	50,198.9	40,480.9	50,198.9	40,480.9	$ 42,441.6
Unfunded Commitments
Allowance:
Provision (credit) for credit losses	0.1	0.8	0.7	0.6
Customer Receivables
Receivables:
End of period balance	36,171.3	32,329.6	36,171.3	32,329.6	34,037.1
Retail Notes and Financing Leases
Allowance:
Beginning of period balance	103.2	95.9	95.4	96.5
Provision (credit) for credit losses	11.2	5.2	36.6	24
Write-offs	(18.5)	(6.1)	(43)	(31.9)
Recoveries	3.3	4.1	9.9	10.7
Translation adjustments	0.2	(0.3)	0.5	(0.5)
End of period year balance	99.4	98.8	99.4	98.8
Receivables:
End of period balance	31,733.8	28,325.7	31,733.8	28,325.7
Revolving charge accounts
Allowance:
Beginning of period balance	19.3	17.4	21.9	20.8
Provision (credit) for credit losses	10.6	3.2	15.1	(3.7)
Write-offs	(18.2)	(10.5)	(36.2)	(22)
Recoveries	5.8	7.3	16.7	22.2
Translation adjustments		(0.1)
End of period year balance	17.5	17.3	17.5	17.3
Receivables:
End of period balance	4,437.5	4,003.9	4,437.5	4,003.9	4,165.8
Wholesale Receivables
Allowance:
Beginning of period balance	11.2	11.2	11.1	11.7
Provision (credit) for credit losses	0.5		0.2	0.3
Write-offs			(0.1)	(0.2)
Recoveries			0.6
Translation adjustments	0.2		0.1	(0.6)
End of period year balance	11.9	11.2	11.9	11.2
Receivables:
End of period balance	$ 14,027.6	$ 8,151.3	$ 14,027.6	$ 8,151.3	$ 8,404.5

Receivables - Troubled Debt Res

Receivables - Troubled Debt Restructurings (Details) $ in Millions	9 Months Ended
	Jul. 30, 2023 USD ($) item	Jul. 31, 2022 USD ($) item
Receivables Related to Troubled Debt Restructurings
Number of Receivable contracts | item	92	175
Pre-modification balance	$ 3.5	$ 6.5
Post-modification balance	3.4	5.3
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	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Securitization of Receivables
Total receivables	$ 50,198.9	$ 42,441.6	$ 40,480.9
Other assets	363	314.3	315.7
Securitization borrowings	6,608.4	5,710.9	4,918.5
Accrued interest on borrowings - securitization transactions	15.1	6.1	3.4
Total liabilities related to restricted securitized assets	6,623.5	5,717	4,921.9
Securitized
Securitization of Receivables
Other assets	152.8	155.2	136.2
Total Assets	7,154.1	6,091.1	5,275.6
Retail notes | Securitized
Securitization of Receivables
Total receivables	$ 7,018.7	$ 5,951.6	$ 5,154.1
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Allowance for credit losses	$ (17.4)	$ (15.7)	$ (14.7)

Leases - Lease Revenues (Detail

Leases - Lease Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Lessor
Sales-type and direct finance lease revenues	$ 25.2	$ 14.7	$ 63.6	$ 40.2
Operating lease revenues	224.9	219.4	660.6	664.4
Variable lease revenues	0.1	5.6	10.3	17.6
Total lease revenues	250.2	239.7	734.5	722.2
Excess use and damage fees	$ 0.1	$ 0.5	$ 1.3	$ 1.9

Leases - Cost of Equipment on O

Leases - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 6,103.3	$ 6,155.3	$ 6,130.2
Accumulated depreciation	(1,265.8)	(1,301.8)	(1,352.7)
Equipment on operating leases - net	4,837.5	4,853.5	4,777.5
Operating lease residual value	3,351.1	3,366.7	3,352.8
Operating lease residual value guarantees	544.1	440.7	464.9
Matured operating lease inventory	16.2	10.8	16.6
Agriculture and turf equipment
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	5,049.1	5,017.3	4,951.3
Construction and forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 1,054.2	$ 1,138	$ 1,178.9

Notes Receivable from and Pay_3

Notes Receivable from and Payable to John Deere (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022	Oct. 30, 2022
Notes Receivable from and Payable to John Deere
Interest expense	$ 445.3	$ 137.4	$ 1,121.6	$ 292.6
Related Party
Notes Receivable from and Payable to John Deere
Interest earned	$ 10.4	$ 2.5	$ 25.8	$ 12.7
Interest Income, Operating, Related Party, Type [Extensible Enumeration]	John Deere	John Deere	John Deere	John Deere
Notes payable to John Deere	$ 4,139.2	$ 4,499.8	$ 4,139.2	$ 4,499.8	$ 5,225.5
Long-term intercompany loans	548.8		548.8
Interest expense	$ 60.1	$ 23.7	$ 145.8	$ 57.6
Interest Expense, Related Party, Name [Extensible Enumeration]	John Deere	John Deere	John Deere	John Deere
Related Party | John Deere
Notes Receivable from and Payable to John Deere
Maximum remaining term for related party notes receivable			7 years
Notes receivable from John Deere	$ 648.1	$ 279.2	$ 648.1	$ 279.2	370.7
Related Party | Banco John Deere S.A.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	$ 648.1	270.4	$ 648.1	270.4	370
Related Party | John Deere Agricultural Holdings, Inc.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere		$ 8.8		$ 8.8	$ 0.7

Long-Term External Borrowings_2

Long-Term External Borrowings (Details) - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Long-Term Borrowings
Total senior debt	$ 27,487.8	$ 22,597.9	$ 20,453.2
Unamortized debt discount and debt issuance costs	(79.8)	(70.1)	(59.6)
Total	27,408	22,527.8	20,393.6
Medium-term notes
Long-Term Borrowings
Total senior debt	27,487.6	22,595.4	20,450.3
Principal amount	28,420	23,564.6	20,796.7
Other notes
Long-Term Borrowings
Total senior debt	$ 0.2	$ 2.5	$ 2.9

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) - John Deere Financial Inc. - Guarantees of debt and derivatives $ in Millions	9 Months Ended
	Jul. 30, 2023 USD ($)
Medium-term notes.
Guarantee Obligations
Guarantee obligations maximum exposure	$ 2,494.9
Weighted average interest rate (as a percent)	2.50%
Maximum remaining maturity	6 years
Derivative Instruments
Guarantee Obligations
Guarantee obligations maximum exposure	$ 147
Notional amount	$ 2,419.3

Commitments and Contingencies_2

Commitments and Contingencies - Commitments (Details) $ in Millions	Jul. 30, 2023 USD ($)
Unfunded Commitments
Commitments
Reserve for credit losses on unfunded commitments	$ 2.8
Customer Receivables
Commitments
Unused commitments	$ 32,400
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	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Fair Values of Financial Instruments
Receivables financed - net	$ 50,070.1	$ 42,313.2	$ 40,353.6
Securitization borrowings	6,608.4	5,710.9	4,918.5
Current maturities of long-term external borrowings	5,091.2	5,989.6	6,476.7
Long-term external borrowings	27,408	22,527.8	20,393.6
Level 3 | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	42,654.1	35,562.4	34,617.9
Level 3 | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 6,817.7	$ 5,696.3	$ 4,988.8
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings
Level 2
Fair Values of Financial Instruments
Securitization borrowings	$ 6,538.4	$ 5,576.6	$ 4,861.4
Current maturities of long-term external borrowings	4,947.7	5,887.7	6,426
Long-term external borrowings	27,135.5	21,792.7	20,087.6
Carrying Value
Fair Values of Financial Instruments
Securitization borrowings	6,608.4	5,710.9	4,918.5
Current maturities of long-term external borrowings	5,091.2	5,989.6	6,476.7
Long-term external borrowings	27,408	22,527.8	20,393.6
Carrying Value | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	43,068.8	36,377.3	35,214.2
Carrying Value | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 7,001.3	$ 5,935.9	$ 5,139.4
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings	Securitization borrowings

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities - Recurring (Details) - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 1.8	$ 1.1	$ 1.3
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	179.7	217.2	171.4
Total liabilities	748.6	1,038.3	468.7
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	169.5	214.8	168.3
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	8.4	1.3	1.8
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	743.4	1,024.2	446.6
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	5.2	14.1	22.1
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	$ 1.8	$ 1.1	$ 1.3

Fair Value Measurements - Contr

Fair Value Measurements - Contractual Maturities of Debt Securities (Details) $ in Millions	Jul. 30, 2023 USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost basis	$ 5.1
Contractual Maturities of Debt Securities, Fair Value
Fair value	$ 1.8

Derivative Instruments - Fair V

Derivative Instruments - Fair Value and Notional Amounts (Details) - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Designated as Hedging Instruments | Cash flow hedges | Interest Rate Contracts (Swaps)
Fair Value of Derivative Instruments
Notional amounts	$ 1,500	$ 1,950	$ 2,350
Derivative assets	47.8	87.5	58.8
Derivative liabilities	2.5		0.9
Designated as Hedging Instruments | Fair Value Hedges | Interest Rate Contracts (Swaps)
Fair Value of Derivative Instruments
Notional amounts	11,479.3	9,448.9	7,600
Derivative assets	4		23
Derivative liabilities	667.5	947.9	390.1
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps)
Fair Value of Derivative Instruments
Notional amounts	7,392.1	3,931.3	3,313.2
Derivative assets	92.6	75.5	48.6
Derivative liabilities	23.8	25.2	20.6
Not Designated as Hedging Instruments | Foreign currency exchange contracts
Fair Value of Derivative Instruments
Notional amounts	1,433	1,069	930
Derivative assets	8.4	1.3	1.8
Derivative liabilities	5.2	14.1	22.1
Not Designated as Hedging Instruments | Cross-currency interest rate contracts
Fair Value of Derivative Instruments
Notional amounts	155.2	134.2	125.7
Derivative assets		2.8	4
Derivative liabilities	24.5	2.1	1.1
Not Designated as Hedging Instruments | Interest rate caps | Sold
Fair Value of Derivative Instruments
Notional amounts	1,433.8	1,020.3	1,144.8
Derivative liabilities	25.1	49	33.9
Not Designated as Hedging Instruments | Interest rate caps | Purchased
Fair Value of Derivative Instruments
Notional amounts	1,433.8	1,020.3	1,144.8
Derivative assets	$ 25.1	$ 49	$ 33.9

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges (Details) $ in Millions	9 Months Ended
	Jul. 30, 2023 USD ($)
Cash Flow Hedges
Cash flow hedge gain (loss) recorded in OCI to be reclassified within twelve months	$ 34.4
Gains or losses reclassified from OCI to earnings	$ 0

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value Hedges (Details) - Interest Rate Contracts (Swaps) - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
Active Hedging Relationships
Carrying Amount of Hedged Item	$ 10,760	$ 8,453.6	$ 7,178.1
Hedged Liability, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Finance Leases, Excluding Current Maturities	Long-Term Debt and Finance Leases, Excluding Current Maturities	Long-Term Debt and Finance Leases, Excluding Current Maturities
Fair Value Hedges | Designated as Hedging Instruments
Fair Value Hedges
Notional amounts	$ 11,479.3	$ 9,448.9	$ 7,600
Current Maturities of Long-term External Borrowings
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	2,323.8	2,514.9	2,604.6
Cumulative Fair Value Hedging Adjustment - Discontinued	25.1	15.5	5
Long-term External Borrowings
Active Hedging Relationships
Cumulative Fair Value Hedging Adjustment	(667.4)	(950.1)	(385.9)
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	6,319.1	5,519.6	5,728
Cumulative Fair Value Hedging Adjustment - Discontinued	$ (265)	$ (19.1)	$ 39.5

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ (15.4)	$ 14.7	$ (72.8)	$ 122.3
Related Party | John Deere
Classification and gains (losses) including accrued interest expense related to derivative instruments
Gain (loss) on derivative transactions with affiliate party	$ (326.3)	$ 145.2	$ (69.9)	$ (432.3)
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	$ 23.8	$ 0.8	$ 18.2	$ 51.4
Interest Rate Contracts (Swaps) | Interest expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	(356.2)	145.5	(124.8)	(483.5)
Cash flow hedges, reclassified from OCI	18.3	3.6	54.5	2.7
Not designated as hedges, gains (losses)	25	(3.8)	27.4	39.3
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)	$ (40.4)	$ 18.5	$ (100.2)	$ 83

Derivative Instruments - Counte

Derivative Instruments - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022
External
Derivative assets
Gross Amounts Recognized	$ 8.4	$ 1.3	$ 1.8
Netting Arrangements	(0.1)	(1.1)	(0.4)
Net Amount	8.3	0.2	1.4
Derivative liabilities
Gross Amounts Recognized	5.2	14.1	22.1
Netting Arrangements	(0.1)	(1.1)	(0.4)
Net Amount	5.1	13	21.7
Related Party | John Deere
Derivative assets
Gross Amounts Recognized	169.5	214.8	168.3
Netting Arrangements	(108.5)	(128.3)	(105.3)
Net Amount	61	86.5	63
Derivative liabilities
Gross Amounts Recognized	743.4	1,024.2	446.6
Netting Arrangements	(108.5)	(128.3)	(105.3)
Net Amount	634.9	895.9	341.3
Derivative Instruments | Related Party | 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		9 Months Ended
	Jan. 30, 2023	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Revenues
Finance income earned on retail notes		$ 387.4	$ 267.1	$ 1,069.5	$ 767.9
Lease revenues		250.1	239.2	733.2	720.3
Total revenues		1,057.6	700.9	2,823.4	2,016.3
Expenses
Administrative and operating expenses		142.6	121.1	419.3	365.7
Total operating expenses		398.7	333	1,146.9	1,063.5
Total expenses		844	470.4	2,268.5	1,356.1
Income of Consolidated Group before Income Taxes		213.6	230.5	554.9	660.2
Provision for income taxes		56.5	60.6	132.3	154.4
Income of Consolidated Group		157.1	169.9	422.6	505.8
Net Income		157.6	170.5	424.9	509.4
Net Income Attributable to the Company		$ 157.7	170.5	$ 425.3	509.5
Previously Reported
Revenues
Finance income earned on retail notes			256.9		739.7
Lease revenues			237.7		715.7
Total revenues			689.2		1,983.5
Expenses
Administrative and operating expenses			106.7		318.3
Total operating expenses			318.6		1,016.1
Total expenses			456		1,308.7
Income of Consolidated Group before Income Taxes			233.2		674.8
Provision for income taxes			61.3		157.8
Income of Consolidated Group			171.9		517
Net Income			172.5		520.6
Net Income Attributable to the Company			172.5		520.7
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			10.2		28.2
Lease revenues			1.5		4.6
Total revenues			11.7		32.8
Expenses
Administrative and operating expenses			14.4		47.4
Total operating expenses			14.4		47.4
Total expenses			14.4		47.4
Income of Consolidated Group before Income Taxes			(2.7)		(14.6)
Provision for income taxes			(0.7)		(3.4)
Income of Consolidated Group			(2)		(11.2)
Net Income			(2)		(11.2)
Net Income Attributable to the Company			$ (2)		$ (11.2)

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	Jul. 30, 2023	Apr. 30, 2023	Oct. 30, 2022	Jul. 31, 2022	May 01, 2022	Oct. 31, 2021
Receivables:
Total receivables	$ 50,198.9		$ 42,441.6	$ 40,480.9
Total receivables - net	50,070.1		42,313.2	40,353.6
Deferred income taxes	25.3		25.5	31.5
Total assets	57,766.6		48,868.9	46,699.9
Liabilities and Stockholder's Equity
Deferred income taxes	164.5		208.5	208
Total liabilities	51,805.4		44,183.4	42,133.8
Stockholder's equity:
Retained earnings	3,731.2		3,305.9	3,181.8		$ 2,982.3
Total Company stockholder's equity	5,960.1		4,684	4,564.4
Total stockholder's equity	5,961.2	$ 5,795	4,685.5	4,566.1	$ 4,551.1	4,417.5
Total Liabilities and Stockholder's Equity	57,766.6		48,868.9	46,699.9
Retail notes | Unrestricted
Receivables:
Total receivables	23,424.1		22,799	22,208.8
Nonrelated Party
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses	$ 1,080.5		957.3	969.2
Previously Reported
Receivables:
Total receivables			42,502.9	40,534.9
Total receivables - net			42,374.5	40,407.6
Deferred income taxes			23.3	29.5
Total assets			48,928	46,751.9
Liabilities and Stockholder's Equity
Deferred income taxes			239.4	239.1
Total liabilities			44,123.1	42,065.9
Stockholder's equity:
Retained earnings			3,425.3	3,301.7		3,091
Total Company stockholder's equity			4,803.4	4,684.3
Total stockholder's equity			4,804.9	4,686
Total Liabilities and Stockholder's Equity			48,928	46,751.9
Previously Reported | Retail notes | Unrestricted
Receivables:
Total receivables			22,860.3	22,262.8
Previously Reported | Nonrelated Party
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses			866.1	870.2
Adjustment
Receivables:
Total receivables			(61.3)	(54)
Total receivables - net			(61.3)	(54)
Deferred income taxes			2.2	2
Total assets			(59.1)	(52)
Liabilities and Stockholder's Equity
Deferred income taxes			(30.9)	(31.1)
Total liabilities			60.3	67.9
Stockholder's equity:
Retained earnings			(119.4)	(119.9)		$ (108.7)
Total Company stockholder's equity			(119.4)	(119.9)
Total stockholder's equity			(119.4)	(119.9)
Total Liabilities and Stockholder's Equity			(59.1)	(52)
Adjustment | Retail notes | Unrestricted
Receivables:
Total receivables			(61.3)	(54)
Adjustment | Nonrelated Party
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses			$ 91.2	$ 99

Immaterial Restatement of Pri_5

Immaterial Restatement of Prior Period Financial Statements - Consolidated Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Cash Flows from Operating Activities:
Net Income	$ 157.6	$ 170.5	$ 424.9	$ 509.4
Adjustments to reconcile net income to net cash provided by operating activities:
Credit for deferred income taxes			(36.3)	(36.1)
Change in accounts payable and accrued expenses			125.2	(15.1)
Other			(185)	(119.7)
Net cash provided by operating activities			$ 899.2	898.1
Previously Reported
Cash Flows from Operating Activities:
Net Income		172.5		520.6
Adjustments to reconcile net income to net cash provided by operating activities:
Credit for deferred income taxes				(32.8)
Change in accounts payable and accrued expenses				(20.5)
Other				(128.8)
Net cash provided by operating activities				898.1
Adjustment
Cash Flows from Operating Activities:
Net Income		$ (2)		(11.2)
Adjustments to reconcile net income to net cash provided by operating activities:
Credit for deferred income taxes				(3.3)
Change in accounts payable and accrued expenses				5.4
Other				$ 9.1

Subsequent Events - Dividends (

Subsequent Events - Dividends (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
	Aug. 28, 2023	Jul. 31, 2022	Jul. 31, 2022
Subsequent Events
Cash dividends declared to JDFS		$ 135	$ 310
Subsequent Event
Subsequent Events
Dividend from JDFS paid to Deere & Co.	$ 165
Subsequent Event | John Deere Financial Services, Inc.
Subsequent Events
Cash dividends declared to JDFS	$ 165