Deere John Capital (DE22B) 10-K 15 Dec 23 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Oct. 29, 2023	Dec. 15, 2023
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Oct. 29, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,500
Entity Public Float	$ 0
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34
Auditor Location	Chicago, Illinois
Current Fiscal Year End Date	--10-29
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000027673
Amendment Flag	false

Statements of Consolidated Inco

Statements of Consolidated Income - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Revenues
Finance income earned on retail notes	$ 1,494.7	$ 1,064.5	$ 976
Lease revenues	997.3	963.7	1,028.3
Revolving charge account income	417.4	300.2	298.1
Finance income earned on wholesale receivables	889.8	342.5	299.8
Other income	176.3	135.7	121.5
Total revenues	3,975.5	2,806.6	2,723.7
Expenses
Interest expense	1,671.5	497.3	472.9
Operating expenses:
Depreciation of equipment on operating leases	659.7	667.7	733.4
Administrative and operating expenses	569.4	501.6	471.8
Provision (credit) for credit losses	88.5	23.5	(0.9)
Total operating expenses	1,570.2	1,414.9	1,372.6
Total expenses	3,241.7	1,912.2	1,845.5
Income of Consolidated Group before Income Taxes	733.8	894.4	878.2
Provision for income taxes	165.9	205.6	193.8
Income of Consolidated Group	567.9	688.8	684.4
Equity in income of unconsolidated affiliate	3.9	4.5	3
Net Income	571.8	693.3	687.4
Less: Net income (loss) attributable to noncontrolling interests	(0.5)	(0.3)	0.2
Net Income Attributable to the Company	572.3	693.6	687.2
Related Party
Expenses
Interest expense	199.9	86.8	53
Operating expenses:
Fees and interest paid to John Deere	$ 252.6	$ 222.1	$ 168.3

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Statements of Consolidated Comprehensive Income
Net Income	$ 571.8	$ 693.3	$ 687.4
Other Comprehensive Income (Loss), Net of Income Taxes
Cumulative translation adjustment	32.2	(114.5)	15
Unrealized gain (loss) on derivatives	(32)	60	13.5
Unrealized gain (loss) on debt securities	0.1	(0.8)	(0.1)
Other Comprehensive Income (Loss), Net of Income Taxes	0.3	(55.3)	28.4
Comprehensive Income of Consolidated Group	572.1	638	715.8
Less: Comprehensive income (loss) attributable to noncontrolling interests	(0.5)	(0.3)	0.2
Comprehensive Income Attributable to the Company	$ 572.6	$ 638.3	$ 715.6

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Assets
Cash and cash equivalents	$ 1,487.5	$ 661.8
Marketable securities	1.4	1.1
Receivables:
Total receivables	51,344.2	42,441.6
Allowance for credit losses	(146.4)	(128.4)
Total receivables - net	51,197.8	42,313.2
Equipment on operating leases - net	5,051.5	4,853.5
Investment in unconsolidated affiliate	27.6	22.6
Deferred income taxes	24.6	25.5
Other assets	367.5	314.3
Total Assets	59,115	48,868.9
Liabilities:
Commercial paper and other notes payable	6,836.1	2,402.3
Securitization borrowings	6,995.2	5,710.9
Current maturities of long-term external borrowings	6,059.9	5,989.6
Total short-term external borrowings	19,891.2	14,102.8
Deposits held from dealers and merchants	138.4	137.3
Deferred income taxes	456.3	208.5
Long-term external borrowings	27,439.3	22,527.8
Total liabilities	53,212.4	44,183.4
Commitments and contingencies (Note 17)
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
Retained earnings	3,713.2	3,305.9
Accumulated other comprehensive loss	(104.4)	(104.7)
Total Company stockholder's equity	5,901.6	4,684
Noncontrolling interests	1	1.5
Total stockholder's equity	5,902.6	4,685.5
Total Liabilities and Stockholder's Equity	59,115	48,868.9
Nonrelated Party
Receivables:
Other receivables	162	91.4
Liabilities:
Accounts payable and accrued expenses	1,128.3	957.3
Related Party
Receivables:
Other receivables	144.4	214.8
Notes receivable from John Deere	650.7	370.7
Liabilities:
Notes payable to John Deere	3,184	5,225.5
Accounts payable and accrued expenses	974.9	1,024.2
Securitized
Receivables:
Other assets	152	155.2
Retail notes | Unrestricted
Receivables:
Total receivables	24,641.1	22,799
Retail notes | Securitized
Receivables:
Total receivables	$ 7,356.8	$ 5,951.6
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings
Revolving charge accounts
Receivables:
Total receivables	$ 4,594.4	$ 4,165.8
Allowance for credit losses	(20.4)	(21.9)
Wholesale Receivables
Receivables:
Total receivables	13,330.1	8,404.5
Allowance for credit losses	(11.1)	(11.1)
Financing Leases
Receivables:
Total receivables	$ 1,421.8	$ 1,120.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Oct. 29, 2023	Oct. 30, 2022
Consolidated Balance Sheets
Common stock, issued shares	2,500	2,500
Common stock, outstanding shares	2,500	2,500

Statements of Consolidated Cash

Statements of Consolidated Cash Flows - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Cash Flows from Operating Activities:
Net Income	$ 571.8	$ 693.3	$ 687.4
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses	88.5	23.5	(0.9)
Provision for depreciation and amortization	686	692.1	756.6
Provision (credit) for deferred income taxes	257.2	(35.3)	(89.7)
Change in accounts payable and accrued expenses	191.8	12	(17.9)
Change in accrued income taxes payable/receivable	(47.4)	(31.9)	(11.1)
Other	(211.7)	(147.8)	41.5
Net cash provided by operating activities	1,536.2	1,205.9	1,365.9
Cash Flows from Investing Activities:
Cost of receivables acquired (excluding wholesale)	(25,776.6)	(23,941.6)	(22,438)
Collections of receivables (excluding wholesale)	21,553.4	19,967.5	18,147.4
Decrease (increase) in wholesale receivables - net	(4,836.1)	(2,737.6)	1,197.1
Cost of equipment on operating leases acquired	(2,362.5)	(2,067.1)	(1,845.7)
Proceeds from sales of equipment on operating leases	1,528.6	1,547.4	1,569.1
Cost of notes receivable acquired from John Deere	(397.5)	(351.9)	(321.5)
Collections of notes receivable from John Deere	122.5	367.4	297.5
Other	(9.8)	9.1	2.4
Net cash used for investing activities	(10,178)	(7,206.8)	(3,391.7)
Cash Flows from Financing Activities:
Increase in commercial paper and other notes payable - net (original maturities of three months or less)	2,643.8	1,716.6	504.9
Increase (decrease) in securitization borrowings - net	1,285.1	1,119.7	(60.7)
Increase (decrease) in short-term borrowings with John Deere - net	(2,017)	88.6	392.8
Proceeds from external borrowings issued (original maturities greater than three months)	13,020.4	9,255.3	7,418.3
Payments of external borrowings (original maturities greater than three months)	(6,046.2)	(5,754.4)	(5,710.4)
Dividends paid	(165)	(370)	(485)
Capital investments from John Deere	810
Debt issuance costs	(50.9)	(38.7)	(33.7)
Net cash provided by financing activities	9,480.2	6,017.1	2,026.2
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	8.4	(22.9)	3
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	846.8	(6.7)	3.4
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year	766.1	772.8	769.4
Cash, Cash Equivalents, and Restricted Cash at End of Year	1,612.9	766.1	772.8
Components of Cash, Cash Equivalents, and Restricted Cash:
Cash and cash equivalents	1,487.5	661.8	677
Restricted cash	$ 125.4	$ 104.3	$ 95.8
Balance sheet location of restricted cash	Other assets	Other assets	Other assets
Total Cash, Cash Equivalents, and Restricted Cash	$ 1,612.9	$ 766.1	$ 772.8

Statements of Changes in Consol

Statements of Changes in Consolidated Stockholder's Equity - USD ($) $ in Millions	Common Stock	Retained Earnings Cumulative Effect from Adoption	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interests	Cumulative Effect from Adoption	Total
Balance (ASU 2016-13) at Nov. 01, 2020		$ (26.2)				$ (26.2)
Balance at Nov. 01, 2020	$ 1,482.8		$ 2,806.3	$ (77.8)	$ 1.6		$ 4,212.9
Increase (Decrease) in Stockholder's Equity
Net income (loss)			687.2		0.2		687.4
Other comprehensive income (loss)				28.4			28.4
Dividends declared			(485)				(485)
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)			693.6		(0.3)		693.3
Other comprehensive income (loss)				(55.3)			(55.3)
Dividends declared			(370)				(370)
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)			572.3		(0.5)		571.8
Other comprehensive income (loss)				0.3			0.3
Dividends declared			(165)				(165)
Capital investments	810						810
Balance at Oct. 29, 2023	$ 2,292.8		$ 3,713.2	$ (104.4)	$ 1		$ 5,902.6

Organization and Consolidation

Organization and Consolidation	12 Months Ended
	Oct. 29, 2023
Organization and Consolidation
Organization and Consolidation	Note 1. Organization and Consolidation Corporate Organization References to John Deere Capital Corporation (Capital Corporation), “the Company,” “we,” “us,” or “our” include our consolidated subsidiaries. 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. We conduct business in Australia, New Zealand, the U.S., and in several countries in Africa, Asia, Europe, and Latin America, including Argentina and Mexico. Deere & Company and its wholly-owned subsidiaries are collectively called “John Deere.” 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.” We bear substantially all of the credit risk (net of recovery from withholdings from certain John Deere dealers and merchants) associated with our holding of Receivables and Leases. We secure our Receivables, other than certain revolving charge accounts, by retaining as collateral security in the equipment associated with those Receivables or with the use of other collateral, and require theft and physical damage insurance on such equipment. A small portion of the Receivables and Leases held (less than 5 percent) is guaranteed by certain subsidiaries of Deere & Company. We also perform substantially all servicing and collection functions. Servicing and collection functions for a small portion of the Receivables and Leases held (less than 5 percent) are provided by John Deere. John Deere is reimbursed for staff and other administrative services at estimated cost, and for credit lines provided to us based on utilization of those lines. Principles of Consolidation The consolidated financial statements represent the consolidation of all companies in which Capital Corporation has a controlling interest. Certain variable interest entities (VIEs) are consolidated since we are the primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIEs. We consolidate certain VIEs that are special purpose entities (SPEs) related to the securitization of receivables (see Note 5). We record our investment in each unconsolidated affiliated company (20 to 50 percent ownership) at our related equity in the net assets of such affiliate (see Note 22). Fiscal Year We use a 52/53 week fiscal year ending on the last Sunday in the reporting period, which generally occurs near the end of October. An additional week is included in the fourth fiscal quarter every five or six years to realign our fiscal quarters with the calendar. The fiscal year ends for 2023, 2022, and 2021 were October 29, 2023, October 30, 2022, and October 31, 2021, respectively. Fiscal years 2023, 2022, and 2021 contained 52 weeks. Unless otherwise stated, references to particular years or quarters refer to our fiscal years and the associated periods in those fiscal years. Presentation of Amounts All amounts are presented in millions of dollars, unless otherwise specified. Immaterial Restatement of Prior Period Financial Statements In the second quarter of 2023, we 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 our 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 quarter ended April 30, 2023 was not material to our consolidated financial statements in any of the impacted periods; however, the aggregate impact of correcting prior periods within the quarter ended April 30, 2023 would have been material to our 2023 consolidated financial results. Consequently, we made these immaterial corrections in the comparative prior periods. Refer to Note 23 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. Argentina We have financial services operations in Argentina. The U.S. dollar has historically been the functional currency for our Argentina operations, as its business is indexed to the U.S. dollar due to the highly inflationary conditions. The Argentine government has certain capital and currency controls that restrict our ability to access U.S. dollars in Argentina and remit earnings from our Argentine operations. As of October 29, 2023 and October 30, 2022, our net investment in Argentina was $41.1 and $53.5, respectively. Revenues from our Argentine operations represented approximately 2 percent and 3 percent of our consolidated revenues for 2023 and 2022, respectively. The net peso exposure as of October 29, 2023 and October 30, 2022 was approximately $31.8 and $45.6, respectively. Argentine peso-denominated monetary assets and liabilities are remeasured at each balance sheet date using the official currency exchange rate. During 2023, 2022, and 2021, we recognized pretax net foreign exchange losses of $27.4, $22.1, and $14.0, respectively, related to our Argentina operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies and New Accounting Standards	12 Months Ended
	Oct. 29, 2023
Summary of Significant Accounting Policies and New Accounting Standards
Summary of Significant Accounting Policies and New Accounting Standards	Note 2. Summary of Significant Accounting Policies and New Accounting Standards The following are significant accounting policies in addition to those included in other notes to the consolidated financial statements. Use of Estimates in Financial Statements Certain accounting policies require management to make estimates and assumptions in determining the amounts reflected in the financial statements and related disclosures. Actual results could differ from these estimates. Cash and Cash Equivalents We consider investments with purchased maturities of three months or less to be cash equivalents. Revenue Recognition Financing revenue, including compensation from John Deere for waived or reduced finance charges, is recorded over the lives of the related receivables using the interest method. Deferred costs on the origination of receivables are recognized as a reduction in finance revenue over the lives of the receivables using the interest method. Operating lease revenue, including compensation from John Deere, and deferred costs on the origination of operating leases are recognized on a straight-line basis over the scheduled lease terms in lease revenue. Receivables and Allowance for Credit Losses Receivables are reported on the consolidated balance sheets at outstanding principal and accrued interest, adjusted for any write-offs and any unamortized deferred fees or costs on originated Receivables. We also record an allowance for credit losses and provision for credit losses related to the Receivables. The allowance represents an estimate of the credit losses expected over the life of the Receivable portfolio. Receivables are written off to the allowance when the account is considered uncollectible. Refer to Note 4 for additional information. Securitization of Receivables Certain Receivables are periodically transferred to SPEs in securitization transactions (see Note 5). These securitizations qualify as collateral for secured borrowings and no gains or losses are recognized at the time of securitization. The receivables remain on the consolidated balance sheets and are classified as “Retail notes securitized.” We recognize finance income over the lives of these receivables using the interest method. Depreciation We estimate residual values of equipment on operating leases at the inception of the lease, and the equipment is depreciated over the lease terms to the estimated residual value using the straight-line method. We review residual value estimates during the lease term and depreciation is adjusted prospectively on a straight-line basis over the remaining lease term if residual estimates are revised. Impairment of Long-Lived Assets We evaluate the carrying value of long-lived assets, including equipment on operating leases, when events or circumstances warrant such a review. If the carrying value of the long-lived asset is considered impaired, it is written down to its fair value. Fees and Interest Paid to John Deere Fees and interest paid to John Deere include corporate support fees and interest on intercompany borrowings from John Deere based on approximate market rates. Derivative Financial Instruments It is our policy to use derivative transactions only to manage exposures from the normal course of business. We do not execute derivative transactions for the purpose of creating speculative positions or trading. We have interest rate and foreign currency fluctuation risk between the types and amounts of our Receivable and Lease portfolios and how these portfolios are funded. We also have foreign currency exposures at some of our foreign and domestic operations related to financing in currencies other than the functional currencies. All derivatives are recorded at fair value on the consolidated balance sheets. Cash collateral received or paid is not offset against the derivative fair values on the consolidated balance sheets. The cash flows from the derivative contracts are recorded in operating activities in the statements of consolidated cash flows. Each derivative is designated as a cash flow hedge, fair value hedge, or remains undesignated. Changes in the fair value of derivatives are recorded as follows: ● Cash flow hedges are recorded in other comprehensive income (OCI) and subsequently reclassified into interest expense in the same periods during which the effects of the hedged item (borrowings) impact earnings. These amounts offset the effects of interest rate changes on the related borrowings in interest expense. ● Fair value hedges are recorded in interest expense, and the gains or losses are generally offset by the fair value gains or losses on the hedged items (fixed-rate borrowings), which are also recorded in interest expense. ● Derivatives not designated as hedging instruments are recorded in interest expense (interest rate contracts) or administrative and operating expenses (foreign currency exchange contracts). All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis, the hedging instrument is assessed for its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued (see Note 20). Financing Incentives We provide incentive funds to John Deere dealers that meet certain performance metrics, which include minimum finance volume and finance market share with us over a defined period. At the end of the qualification period, dealers are granted incentive funds, which can be applied to 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. We accrue 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. As mentioned in Note 1, in the second quarter of 2023 we corrected our accounting policy for financing incentives offered to John Deere dealers. Under the previous accounting treatment, we 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. There was no change to the accounting treatment for the cash portion of the incentive program costs, which continues to be accrued over the qualification period. Foreign Currency Translation The functional currencies for most of our foreign operations are their respective local currencies. The assets and liabilities of these operations are translated into U.S. dollars using the exchange rates at the end of the period. The revenues and expenses are translated at weighted-average rates for the period. The gains or losses from these translations are recorded in OCI. Gains or losses from transactions denominated in a currency other than the functional currency of the subsidiary involved and foreign currency exchange components of derivative contracts are included in net income. The pretax net losses for foreign currency exchange in 2023, 2022, and 2021 were $20.4, $25.6, and $14.9 respectively, which are reported in “Administrative and operating expenses” and primarily related to our Argentina operations (see Note 1). New Accounting Standards We closely monitor all Accounting Standard Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) and other authoritative guidance. We adopted the following standards in 2023, none of which had a material effect on our consolidated financial statements: ​ ​ ​ ​ New Accounting Standards Adopted ​ ​ No. 2021-10 — Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance ​ ​ No. 2021-05 — Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments ​ ​ No. 2021-04 — Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options ​ ​ We will adopt the following standards in future periods, none of which are expected to have a material effect on our consolidated financial statements: ​ ​ New Accounting Standards to be Adopted ​ No. 2022-02 — Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ​ No. 2022-01 — Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method ​ No. 2021-08 — Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ​ ​

Receivables

Receivables	12 Months Ended
	Oct. 29, 2023
Receivables
Receivables	Note 3. Receivables Retail Notes Receivable Retail notes receivable by market at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Unrestricted Securitized Unrestricted Securitized Agriculture and turf – new ​ $ 14,350.6 ​ $ 2,664.9 ​ $ 12,997.8 ​ $ 2,100.2 ​ Agriculture and turf – used ​ 7,344.9 ​ 3,387.4 ​ 6,745.8 ​ 2,767.4 ​ Construction and forestry – new ​ 2,884.1 ​ 1,010.9 ​ 2,776.5 ​ 846.7 ​ Construction and forestry – used ​ 1,067.4 ​ 430.5 ​ 1,105.0 ​ 332.0 ​ Total ​ 25,647.0 ​ 7,493.7 ​ 23,625.1 ​ 6,046.3 ​ Unearned finance income ​ (1,005.9) ​ (136.9) ​ (826.1) ​ (94.7) ​ Retail notes receivable ​ $ 24,641.1 ​ $ 7,356.8 ​ $ 22,799.0 ​ $ 5,951.6 ​ ​ Gross retail note installments at October 29, 2023 and October 30, 2022 were scheduled to be received as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Unrestricted Securitized Unrestricted Securitized Due in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 0-12 months ​ $ 7,718.5 ​ $ 2,820.5 ​ $ 7,139.7 ​ $ 2,225.2 ​ 13-24 months ​ 6,146.8 ​ 2,088.5 ​ 5,668.8 ​ 1,667.4 ​ 25-36 months ​ 5,047.0 ​ 1,509.0 ​ 4,677.8 ​ 1,208.9 ​ 37-48 months ​ 3,724.5 ​ 824.4 ​ 3,427.2 ​ 709.3 ​ 49-60 months ​ 2,321.1 ​ 240.5 ​ 2,057.6 ​ 226.8 ​ Over 60 months ​ 689.1 ​ 10.8 ​ 654.0 ​ 8.7 ​ Total ​ $ 25,647.0 ​ $ 7,493.7 ​ $ 23,625.1 ​ $ 6,046.3 ​ ​ Finance income is recognized over the lives of the retail notes using the interest method. During 2023, the average effective yield on retail notes held by us was approximately 5.0 percent, compared with 3.9 percent in 2022 and 4.0 percent in 2021. As of October 29, 2023 and October 30, 2022, over 95 percent of the retail notes held by us bore a fixed finance rate. A portion of the finance income earned by us arises from financing of retail sales of John Deere equipment on which finance charges are waived or reduced by John Deere for a period from the date of the retail sale to a specified subsequent date. We receive compensation from John Deere equal to competitive market interest rates for periods during which finance charges have been waived or reduced. We compute the compensation from John Deere for waived or reduced finance charges based on our estimated funding costs, administrative and operating expenses, credit losses, and required return on equity. The financing rate following the waiver or interest reduction period is not significantly different from the compensation rate from John Deere. During 2023 2022 2021 A deposit is withheld by us on certain John Deere agriculture and turf equipment retail notes originating from dealers. Any subsequent retail note losses, subject to certain limitations by customer, are charged against the withheld deposits. At the end of each calendar quarter, the balance of each dealer’s withholding account in excess of a specified percent (ranging from one Revolving Charge Accounts Receivable Revolving charge account income is comprised of the following: ● discounts paid by dealers and merchants on most transactions for processing and support, ● finance charges paid by customers on their outstanding account balances, and ● finance charge subsidies from John Deere and sponsoring merchants for waiver of finance charges or reduced rates. During 2023 2022 2021 Wholesale Receivables We also provide wholesale financing to dealers of John Deere agriculture and turf equipment and construction and forestry equipment, primarily to finance inventories of equipment for those dealers. Wholesale finance income related to these notes is generally recognized monthly based on the daily balance of wholesale receivables outstanding and the applicable effective interest rate. Interest rates vary with a bank base rate, the type of equipment financed, and dealer financial profile. Substantially all wholesale receivables are secured with collateral or other credit enhancements. On average, the wholesale receivables portfolio turned five times and seven times during 2023 and 2022, respectively. Wholesale receivables at October 29, 2023 and October 30, 2022 totaled $13,330.1 and $8,404.5, respectively. Wholesale receivables increased in 2023 compared to 2022 due to higher shipment volumes of John Deere equipment, in addition to higher dealer used inventory levels compared to historic lows in the prior year. We purchase certain wholesale trade receivables from John Deere, which are included within “Wholesale receivables.” These trade receivables arise from John Deere’s sales of goods to independent dealers. Under the terms of the sales to dealers, interest is primarily charged to dealers on outstanding balances, from the earlier of the date when goods are sold to retail customers by the dealer or the expiration of certain interest-free periods granted at the time of the sale to the dealer, until payment is received by us. Dealers cannot cancel purchases after John Deere recognizes a sale and are responsible for payment even if the equipment is not sold to retail customers. The interest-free periods are determined based on the type of equipment sold and the time of year of the sale. These periods range from one 2023 2022 2021 Financing Leases We lease agriculture and turf equipment and construction and forestry equipment directly to retail customers. Leases classified as sales-type or direct financing leases are reported in “Financing leases” on the consolidated balance sheets. See Note 6 to the Consolidated Financial Statements for detailed disclosures related to financing leases. Concentration of Credit Risk Receivables have significant concentrations of credit risk in the agriculture and turf and construction and forestry markets. On a geographic basis, 86 percent of our Receivables portfolio was located in the U.S., at October 29, 2023. There is not a disproportionate concentration of credit risk with any single customer or dealer.

Allowance for Credit Losses and

Allowance for Credit Losses and Credit Quality of Receivables	12 Months Ended
	Oct. 29, 2023
Allowance for Credit Losses and Credit Quality of Receivables
Allowance for Credit Losses and Credit Quality of Receivables	Note 4. Allowance for Credit Losses and Credit Quality of Receivables Credit Quality We monitor the credit quality of Receivables based on delinquency status, defined as follows: ● Past due balances represent Receivables still accruing finance income with any payments 30 days or more past the contractual payment due date. ● Non-performing Receivables represent Receivables for which we have stopped accruing finance income, which generally occurs when Customer Receivables are 90 days delinquent and when interest-bearing wholesale receivables become 60 days delinquent. Accrued finance income and lease revenue previously recognized on non-performing Receivables is reversed and subsequently recognized on a cash basis. Accrual of finance income and lease revenue is resumed when the receivable becomes contractually current, and collections are reasonably assured. Accrued finance income and lease revenue reversed on non-performing Receivables, and finance income and lease revenue recognized from cash payments on non-performing Receivables were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Accrued finance income and lease revenue reversed ​ $ 17.1 ​ $ 11.3 ​ $ 12.4 Finance income and lease revenue recognized on cash payments ​ ​ 18.4 ​ ​ 15.4 ​ ​ 17.1 ​ Total Receivable balances represent principal plus accrued interest. Receivable balances are written off to the allowance for credit losses when, in the judgment of management, they are considered uncollectible. Write-offs generally occur when Customer Receivables are 120 days delinquent, and on a case-by-case basis when wholesale receivables are 60 days delinquent. In these situations, collateral is repossessed (for collateral-dependent Receivables) or the account is 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 12,998.3 ​ $ 7,208.2 ​ $ 4,459.1 ​ $ 1,970.4 ​ $ 666.3 ​ $ 179.3 ​ $ 4,424.8 ​ $ 31,906.4 30-59 days past due ​ ​ 46.8 ​ ​ 66.6 ​ ​ 34.6 ​ ​ 18.7 ​ ​ 8.2 ​ ​ 2.9 ​ ​ 28.1 ​ ​ 205.9 60-89 days past due ​ ​ 15.8 ​ ​ 22.0 ​ ​ 14.8 ​ ​ 7.8 ​ ​ 3.3 ​ ​ 1.3 ​ ​ 8.6 ​ ​ 73.6 90+ days past due ​ ​ 1.4 ​ ​ .8 ​ ​ 2.7 ​ ​ 2.9 ​ ​ .1 ​ ​ .1 ​ ​ ​ ​ ​ 8.0 Non-performing ​ ​ 25.9 ​ ​ 63.7 ​ ​ 44.5 ​ ​ 25.0 ​ ​ 12.9 ​ ​ 12.0 ​ ​ 7.2 ​ ​ 191.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,343.4 ​ ​ 1,586.2 ​ ​ 859.0 ​ ​ 279.2 ​ ​ 65.3 ​ ​ 27.3 ​ ​ 118.6 ​ ​ 5,279.0 30-59 days past due ​ ​ 44.4 ​ ​ 28.1 ​ ​ 24.8 ​ ​ 8.6 ​ ​ 3.4 ​ ​ .4 ​ ​ 4.1 ​ ​ 113.8 60-89 days past due ​ ​ 17.8 ​ ​ 11.4 ​ ​ 11.8 ​ ​ 4.5 ​ ​ 1.0 ​ ​ .2 ​ ​ 1.8 ​ ​ 48.5 90+ days past due ​ ​ .1 ​ ​ 1.2 ​ ​ .1 ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.5 Non-performing ​ ​ 34.1 ​ ​ 67.5 ​ ​ 51.2 ​ ​ 20.7 ​ ​ 7.5 ​ ​ 4.0 ​ ​ 1.2 ​ ​ 186.2 Total Customer Receivables ​ $ 15,528.0 ​ $ 9,055.7 ​ $ 5,502.6 ​ $ 2,337.9 ​ $ 768.0 ​ $ 227.5 ​ $ 4,594.4 ​ $ 38,014.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 11,736.1 ​ $ 6,939.9 ​ $ 3,479.6 ​ $ 1,515.8 ​ $ 581.3 ​ $ 152.9 ​ $ 4,022.7 ​ $ 28,428.3 30-59 days past due ​ ​ 40.1 ​ ​ 55.8 ​ ​ 31.4 ​ ​ 15.0 ​ ​ 6.4 ​ ​ 2.7 ​ ​ 18.4 ​ ​ 169.8 60-89 days past due ​ ​ 11.8 ​ ​ 19.5 ​ ​ 10.8 ​ ​ 4.4 ​ ​ 2.0 ​ ​ 1.1 ​ ​ 4.5 ​ ​ 54.1 90+ days past due ​ ​ .4 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .8 Non-performing ​ ​ 24.7 ​ ​ 38.4 ​ ​ 29.2 ​ ​ 13.7 ​ ​ 11.2 ​ ​ 10.2 ​ ​ 7.8 ​ ​ 135.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,373.7 ​ ​ 1,526.3 ​ ​ 658.1 ​ ​ 230.7 ​ ​ 57.2 ​ ​ 10.5 ​ ​ 107.7 ​ ​ 4,964.2 30-59 days past due ​ ​ 44.5 ​ ​ 40.6 ​ ​ 20.7 ​ ​ 7.6 ​ ​ 1.8 ​ ​ .6 ​ ​ 3.1 ​ ​ 118.9 60-89 days past due ​ ​ 18.1 ​ ​ 11.4 ​ ​ 6.0 ​ ​ 3.0 ​ ​ .7 ​ ​ .1 ​ ​ 1.0 ​ ​ 40.3 90+ days past due ​ ​ .3 ​ ​ 1.3 ​ ​ ​ ​ ​ 1.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 Non-performing ​ ​ 19.3 ​ ​ 51.2 ​ ​ 27.6 ​ ​ 15.4 ​ ​ 5.5 ​ ​ 2.9 ​ ​ .6 ​ ​ 122.5 Total Customer Receivables ​ $ 14,269.0 ​ $ 8,684.6 ​ $ 4,263.6 ​ $ 1,807.0 ​ $ 666.1 ​ $ 181.0 ​ $ 4,165.8 ​ $ 34,037.1 ​ The credit quality analysis of wholesale receivables by year of origination was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 609.5 ​ $ 92.6 ​ $ 20.0 ​ $ 3.9 ​ $ .7 ​ $ 159.9 ​ $ 9,270.1 ​ $ 10,156.7 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 45.8 ​ ​ 45.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.7 ​ ​ 5.7 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 19.4 ​ ​ 2.5 ​ ​ 19.9 ​ ​ .2 ​ ​ .1 ​ ​ 75.2 ​ ​ 2,987.6 ​ ​ 3,104.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 17.0 ​ ​ 17.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 628.9 ​ $ 95.1 ​ $ 39.9 ​ $ 4.1 ​ $ .8 ​ $ 235.1 ​ $ 12,326.2 ​ $ 13,330.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 wholesale receivables ​ $ 386.1 ​ $ 91.0 ​ $ 26.4 ​ $ 4.2 ​ $ .4 ​ $ 1.1 ​ $ 7,895.3 ​ $ 8,404.5 ​ Allowance for Credit Losses The allowance for credit losses is an estimate of the credit losses expected over the life of our Receivable portfolio. Non-performing Receivables are included in the estimate of expected credit losses. The allowance is measured on a collective basis for receivables with similar risk characteristics. Receivables that do not share risk characteristics are evaluated on an individual basis. Risk characteristics include: ● product category, ● market, ● geography, ● credit risk, and ● remaining balance. We utilize the following loss forecast models to estimate expected credit losses: Customer Receivables: ● Transition matrix models are used for large and complex Customer Receivable pools. These models are used for more than 90 percent of Customer Receivables and estimate credit losses using historical delinquency and default information to assign probabilities that a receivable will pay as contractually scheduled or become delinquent and advance through the various delinquency stages. The model simulates the runoff of the portfolio, month-by-month, over the life of the receivables until the balances are fully repaid or default, using roll rates applied to the outstanding portfolio. The roll rates are applied based on the delinquency status of the customer accounts and are further segmented based on the credit risk and remaining balance of the underlying receivables. Estimated recovery rates are applied to the balance at default to calculate the expected credit losses. ● Weighted-average remaining maturity (WARM) models are used for smaller and less complex Customer Receivable pools, and apply historical average annual loss rates, adjusted for current and forecasted economic conditions, to the projected portfolio runoff. Wholesale receivables: ● Historical loss rate models are used for wholesale receivables, with consideration of current economic conditions and dealer financial risk. Changes in economic conditions have historically had limited impact on credit losses in this portfolio. The model output is adjusted for forecasted economic conditions, which may include the economic indicators listed below. ● commodity prices, ● industry equipment sales, ● unemployment rates, and ● housing starts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary. Recoveries from freestanding credit enhancements, such as dealer deposits and certain credit insurance contracts, are not included in the estimate of expected credit losses. Recoveries from dealer deposits are recognized in “Other income” when the dealer’s withholding account is charged. During 2023, 2022, and 2021, $17.0, $8.5 and $14.3, respectively, was recorded in other income related to recoveries from freestanding credit enhancements. At October 29, 2023 and October 30, 2022, we had $129.6 and $132.7, respectively, of deposits withheld from John Deere dealers and merchants available as credit enhancements for retail notes and financing leases. An analysis of the allowance for credit losses and investment in Receivables at October 29, 2023, October 30, 2022, and October 31, 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Notes Revolving ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 95.4 ​ $ 21.9 ​ $ 11.1 ​ $ 128.4 ​ Provision (credit) for credit losses* ​ 67.6 ​ ​ 21.2 ​ ​ (.2) ​ ​ 88.6 ​ Write-offs ​ (60.8) ​ ​ (44.4) ​ ​ (.2) ​ ​ (105.4) ​ Recoveries ​ 12.9 ​ ​ 21.8 ​ ​ .6 ​ ​ 35.3 ​ Translation adjustments ​ (.2) ​ ​ (.1) ​ ​ (.2) ​ ​ (.5) ​ End of year balance ​ $ 114.9 ​ $ 20.4 ​ $ 11.1 ​ $ 146.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 33,419.7 ​ $ 4,594.4 ​ $ 13,330.1 ​ $ 51,344.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ Provision (credit) for credit losses* ​ 26.1 ​ ​ (1.8) ​ ​ .1 ​ 24.4 ​ Write-offs ​ (40.7) ​ ​ (26.8) ​ ​ (.3) ​ (67.8) ​ Recoveries ​ 14.4 ​ ​ 29.7 ​ ​ .1 ​ 44.2 ​ Translation adjustments ​ (.9) ​ ​ ​ ​ ​ (.5) ​ (1.4) ​ End of year balance ​ $ 95.4 ​ $ 21.9 ​ $ 11.1 ​ $ 128.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 29,871.3 ​ $ 4,165.8 ​ $ 8,404.5 ​ $ 42,441.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ 19.7 ​ Provision (credit) for credit losses* ​ 11.8 ​ ​ (17.0) ​ ​ 2.5 ​ (2.7) ​ Write-offs ​ (36.7) ​ ​ (27.8) ​ ​ (.3) ​ (64.8) ​ Recoveries ​ 11.6 ​ ​ 35.5 ​ ​ ​ ​ 47.1 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .2 ​ .6 ​ End of year balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 26,933.3 ​ $ 3,740.1 ​ $ 5,951.3 ​ $ 36,624.7 ​ * Excludes provision (credit) for credit losses on unfunded commitments of $(.1), $(.9), and $1.8 for the years ended October 29, 2023, October 30, 2022, and October 31, 2021, respectively. The estimated credit losses related to unfunded commitments are recorded in “Accounts payable and accrued expenses.” The allowance for credit losses increased in 2023 compared to 2022, primarily driven by growth in the retail notes and financing lease portfolios and higher expected losses on turf and construction customer accounts. We continue 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. 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 concessions 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Number of receivable contracts ​ ​ 149 ​ ​ 199 ​ ​ 326 Pre-modification balance ​ $ 7.2 ​ $ 7.0 ​ $ 12.0 Post-modification balance ​ ​ 6.7 ​ ​ 5.8 ​ ​ 10.7 ​ In 2023, 2022, and 2021, we had no significant troubled debt restructurings that subsequently defaulted and were written off. At October 29, 2023, we had no commitments to provide additional financing to customers whose accounts were modified in troubled debt restructurings. Write-offs Total write-offs and recoveries, by product, and as a percentage of average balances held during the year, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Dollars Percent Dollars Percent Dollars Percent Write-offs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ $ (31.7) (.12) % $ (21.4) (.09) % $ (18.6) (.09) % Construction and forestry ​ (29.1) (.55) ​ (19.3) (.39) ​ (18.1) (.42) ​ Total retail notes & financing leases ​ (60.8) (.20) ​ (40.7) (.15) ​ (36.7) (.15) ​ Revolving charge accounts ​ (44.4) (1.17) ​ (26.8) (.77) ​ (27.8) (.85) ​ Wholesale receivables ​ (.2) ​ ​ (.3) ​ ​ (.3) ​ ​ Total write-offs ​ (105.4) (.23) ​ (67.8) (.18) ​ (64.8) (.19) ​ Recoveries: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ 8.8 .03 ​ 10.2 .05 ​ 9.2 .05 ​ Construction and forestry ​ 4.1 .08 ​ 4.2 .09 ​ 2.4 .06 ​ Total retail notes & financing leases ​ 12.9 .04 ​ 14.4 .05 ​ 11.6 .05 ​ Revolving charge accounts ​ 21.8 .58 ​ 29.7 .86 ​ 35.5 1.08 ​ Wholesale receivables ​ .6 .01 ​ .1 ​ ​ ​ ​ ​ Total recoveries ​ 35.3 .08 ​ 44.2 .12 ​ 47.1 .14 ​ Total net write-offs ​ $ (70.1) (.15) % $ (23.6) (.06) % $ (17.7) (.05) % ​

Securitization of Receivables

Securitization of Receivables	12 Months Ended
	Oct. 29, 2023
Securitization of Receivables
Securitization of Receivables	Note 5. Securitization of Receivables Our funding strategy includes retail note securitizations. While these securitization programs are administered in various forms, they are accomplished in the following basic steps: 1. We transfer retail notes into a bankruptcy-remote SPE. 2. The SPE issues debt to investors. The debt is secured by the retail notes. 3. Investors are paid back based on cash receipts from the retail notes. As part of step 1, these retail notes are legally isolated from the claims of our general creditors. This ensures cash receipts from the retail notes are accessible to pay back securitization program investors. The structure of these transactions does not meet the accounting criteria for a sale of receivables. As a result, they are accounted for as secured borrowings. The receivables and borrowings remain on our balance sheet and are separately reported as “Retail notes securitized” and “Securitization borrowings,” respectively . We offer securitization programs to institutional investors and other financial institutions through public issuances or privately through a revolving credit agreement. At October 29, 2023, the revolving agreement had a financing limit of up to $1,500.0 of secured financings at any time. At October 29, 2023, $1,281.4 of securitization borrowings were outstanding under the revolving agreement The agreement was renewed in November 2023 with an expiration in November 2024 and an increased capacity of $2,000.0 . The components of the securitization programs at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Retail notes securitized ​ $ 7,356.8 ​ $ 5,951.6 ​ Allowance for credit losses ​ (21.4) ​ (15.7) ​ Other assets (primarily restricted cash) ​ 152.0 ​ 155.2 ​ Total restricted securitized assets ​ $ 7,487.4 ​ $ 6,091.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 6,995.2 ​ $ 5,710.9 ​ Accrued interest on borrowings ​ 12.6 ​ 6.1 ​ Total liabilities related to restricted securitized assets ​ $ 7,007.8 ​ $ 5,717.0 ​ ​ Under both the public and private securitization programs, restricted cash held by the SPE serves as a credit enhancement. The restricted cash would be used to satisfy receivable payment deficiencies, if any. The cash restriction is removed either after all secured borrowing payments are made or proportionally as the secured receivables are collected and the borrowing obligations are reduced. No additional support to these programs beyond what was previously contractually required has been provided during the reporting periods. The weighted-average interest rates on securitization borrowings at October 29, 2023 and October 30, 2022 were 4.7 percent and 2.8 percent, respectively. Although these securitization borrowings are classified as short-term since payment is required if the retail notes are liquidated early, the payment schedule for these borrowings at October 29, 2023 based on the expected liquidation of the retail notes is as follows At October 29, 2023 the maximum remaining term of all restricted securitized retail notes was approximately seven years.

Leases

Leases	12 Months Ended
	Oct. 29, 2023
Leases
Leases	Note 6. Leases We lease 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,” and operating leases are reported in “Equipment on operating leases – net.” Leases offered by us may include early termination and renewal options. At the end of the majority of leases, the lessee generally has the option to purchase the underlying equipment for the contractual residual value or return it to the dealer. If the equipment is returned to the dealer, the dealer also has the option to purchase the equipment or return it to us for remarketing. We have elected to combine lease and nonlease components. The nonlease components primarily relate to preventative maintenance and extended warranty agreements financed by the customer. We have also elected to report consideration related to sales and value-added taxes net of the related tax expense. Property taxes on leased assets are recorded on a gross basis in “Lease revenues” and “Administrative and operating expenses.” Variable lease revenues primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees. Lease revenues earned by us were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Sales-type and direct financing lease revenues ​ $ 90.7 ​ $ 56.6 ​ $ 48.6 Operating lease revenues ​ ​ 894.2 ​ ​ 886.1 ​ ​ 959.3 Variable lease revenues ​ 14.2 ​ 23.4 ​ 26.9 Total lease revenues ​ $ 999.1 ​ $ 966.1 ​ $ 1,034.8 Variable lease revenues reported above include excess use and damage fees of $1.8, $2.4, and $6.5 for 2023, 2022, and 2021, respectively, which were reported in “Other income.” Deposits withheld from John Deere dealers and related credit losses on leases are handled in a manner similar to the procedures for retail notes. As with retail notes, there are generally no deposits withheld from dealers on leases related to construction and forestry equipment. In addition, a lease payment discount program, allowing reduced payments over the term of the lease, is administered in a manner similar to finance waivers on retail notes (see Note 3). During 2023 2022 2021 2023 2022 2021 Financing Leases Sales-type and direct financing lease receivables by market at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 Agriculture and turf ​ $ 664.4 ​ $ 570.2 Construction and forestry ​ ​ 223.4 ​ 183.7 Total ​ ​ 887.8 ​ ​ 753.9 Guaranteed residual values ​ ​ 701.9 ​ ​ 466.5 Unguaranteed residual values ​ ​ 27.2 ​ ​ 25.9 Unearned finance income ​ (195.1) ​ ​ (125.6) Financing leases receivable ​ $ 1,421.8 ​ $ 1,120.7 ​ At the time of accepting a lease that qualifies as a sales-type or direct financing lease, we record the gross amount of lease payments receivable, estimated residual value of the leased equipment, and unearned finance income. The unearned finance income is recognized as revenue over the lease term using the interest method. Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at October 29, 2023 were as follows: ​ ​ ​ ​ Due in: ​ ​ ​ 2024 ​ $ 955.8 2025 ​ ​ 306.9 2026 ​ ​ 168.1 2027 ​ ​ 98.1 2028 ​ ​ 49.9 Later years ​ 10.9 Total ​ $ 1,589.7 ​ Operating Leases The cost of equipment on operating leases by market at October 29, 2023 and October 30, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 Agriculture and turf ​ $ 5,265.2 ​ $ 5,017.3 Construction and forestry ​ ​ 1,042.4 ​ 1,138.0 Total ​ ​ 6,307.6 ​ ​ 6,155.3 Accumulated depreciation ​ (1,256.1) ​ ​ (1,301.8) Equipment on operating leases - net ​ $ 5,051.5 ​ $ 4,853.5 ​ Lease payments from equipment on operating leases are recorded as income on a straight-line method over the lease term. Lease agreements include usage limits and specifications on machine condition, which allows us to assess lessees for excess use or damages to the underlying equipment. Lease payments for equipment on operating leases at October 29, 2023 were scheduled as follows: ​ ​ ​ ​ Due in: ​ ​ ​ 2024 ​ $ 749.5 2025 ​ ​ 561.3 2026 ​ ​ 321.4 2027 ​ ​ 157.9 2028 ​ ​ 38.9 Later years ​ 7.8 Total ​ $ 1,836.8 ​ Operating lease assets are recorded at cost and depreciated to their estimated residual value on a straight-line method over the term of the leases. We estimate the residual values for operating leases at lease inception based on several factors, including: ● lease term, ● expected hours of usage, ● historical wholesale sale prices, ● return experience, ● intended equipment use, ● market dynamics and trends, and ● third-party residual guarantees. We review residual value estimates during the lease term, and depreciation is adjusted prospectively on a straight-line basis over the remaining lease term if residual value estimates are revised. Impairments are recorded when events or circumstances necessitate. There were no impairment losses on operating leases recorded during any periods presented. The total operating lease residual values at October 29, 2023 and October 30, 2022 were $3,538.3 and $3,366.7, respectively. John Deere dealers generally provide a first-loss residual value guarantee on operating lease originations. Total residual value guarantees were $566.9 and $440.7 at October 29, 2023 and October 30, 2022, respectively. We discuss with lessees and dealers options to purchase the equipment or extend the lease prior to operating lease maturity. Equipment returned to us upon termination of leases is remarketed by us. The matured operating lease inventory balances at October 29, 2023 and October 30, 2022 were $16.2 and $10.8, respectively. Matured operating lease inventory is reported in “Other assets.” Past due balances of operating leases represent the total balance held (net book value plus accrued lease payments) and still accruing finance income with any payment amounts 30 days or more past the contractual payment due date. These amounts were $51.8 and $58.7 at October 29, 2023 and October 30, 2022, respectively.

Notes Receivable from and Payab

Notes Receivable from and Payable to John Deere	12 Months Ended
	Oct. 29, 2023
Notes Receivable from and Payable to John Deere
Notes Receivable from and Payable to John Deere	Note 7. Notes Receivable from and Payable to John Deere At October 29, 2023 and October 30, 2022 we had notes receivable from John Deere with the following affiliated companies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Banco John Deere S.A. ​ $ 650.7 ​ $ 370.0 ​ John Deere Agricultural Holdings, Inc. ​ ​ ​ .7 ​ Total notes receivable from John Deere ​ $ 650.7 ​ $ 370.7 ​ ​ The loan agreements mature over the next seven years and charge interest at competitive market interest rates. Interest earned from John Deere was $37.6, $16.9, and $15.4 in 2023 2022 2021 At October 29, 2023 and October 30, 2022, we had notes payable to John Deere as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Notes payable to John Deere ​ $ 3,184.0 ​ $ 5,225.5 ​ Weighted average interest rate ​ ​ 5.2% ​ ​ 3.3% ​ ​ The intercompany borrowings are primarily short-term in nature or contain a due on demand call option. At October 29, 2023, $528.1 of the intercompany borrowings were long-term loans without a due on demand call option, which mature in 2025. We pay interest to John Deere for these borrowings based on competitive market rates. Interest expense paid to John Deere was $199.9, $86.8, and $53.0 in 2023 2022 2021

Short-Term External Borrowings

Short-Term External Borrowings	12 Months Ended
	Oct. 29, 2023
Short-Term External Borrowings
Short-Term External Borrowings	Note 8. Short-Term External Borrowings Our short-term external borrowings at October 29, 2023 and October 30, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Commercial paper and other notes payable ​ $ 6,836.1 ​ $ 2,402.3 ​ Securitization borrowings ​ 6,995.2 ​ 5,710.9 ​ Current maturities of long-term external borrowings * ​ 6,059.9 ​ 5,989.6 ​ Total ​ $ 19,891.2 ​ $ 14,102.8 ​ ​ * Includes unamortized fair value adjustments related to interest rate swaps. The weighted-average interest rates at October 29, 2023 and October 30, 2022, were: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ Commercial paper and other notes payable ​ ​ 5.6% ​ ​ 3.4% ​ Securitization borrowings ​ ​ 4.7% ​ ​ 2.8% ​ ​ Worldwide lines of credit were $10,215.7 at October 29, 2023, consisting primarily of: ● a 364-day credit facility agreement of $5.0 billion, expiring in the second quarter of 2024, ● a credit facility agreement of $2.5 billion, expiring in the second quarter of 2027, and ● a credit facility agreement of $2.5 billion, expiring in the second quarter of 2028. Some of these credit lines are available to both us and Deere & Company. At October 29, 2023, $841.2 of these worldwide lines of credit were unused. For the purpose of computing the unused credit lines, commercial paper and short-term bank borrowings of us and John Deere were considered to constitute utilization. ​ The credit agreements governing these lines of credit require us to maintain our consolidated ratio of earnings to fixed charges at not less than 1.05 to 1 for any four consecutive fiscal quarterly periods and our ratio of senior debt, excluding securitization indebtedness to capital base (total subordinated debt and stockholder’s equity excluding accumulated other comprehensive income (loss)) at not more than 11 to 1 at the end of any fiscal quarter. All of these credit agreement requirements have been met during the periods included in the consolidated financial statements. The agreements are mutually extendable, and the annual facility fees are not significant. ​ Deere & Company has an agreement with us pursuant to which it has agreed to continue to own, directly or through one or more wholly-owned subsidiaries, at least 51 percent of the voting shares of capital stock of Capital Corporation and to maintain our consolidated tangible net worth at not less than $50.0. This agreement also obligates Deere & Company to make payments to us such that our consolidated ratio of earnings to fixed charges is not less than 1.05 to 1 for any four consecutive fiscal quarterly periods. Deere & Company’s obligations to make payments to us under the agreement are independent of whether we are in default on our indebtedness, obligations, or other liabilities. Further, Deere & Company’s obligations under the agreement are not measured by the amount of our indebtedness, obligations, or other liabilities. Deere & Company’s obligations to make payments under this agreement are expressly stated not to be a guarantee of any specific indebtedness, obligation, or liability of ours and are enforceable only by or in the name of Capital Corporation. No payments were required under this agreement during the periods included in the consolidated financial statements. At October 29, 2023, Deere & Company indirectly owned 100 percent of the voting shares of Capital Corporation’s capital stock and our consolidated tangible net worth was $5,901.6.

Long-Term External Borrowings

Long-Term External Borrowings	12 Months Ended
	Oct. 29, 2023
Long-Term External Borrowings
Long-Term External Borrowings	Note 9. Long-Term External Borrowings Long-term external borrowings at October 29, 2023 and October 30, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Senior Debt: ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 27,522.8 ​ $ 22,595.4 ​ Other notes ​ ​ ​ 2.5 ​ Total senior debt ​ 27,522.8 ​ 22,597.9 ​ Unamortized debt discount and debt issuance costs ​ (83.5) ​ (70.1) ​ Total ​ $ 27,439.3 ​ $ 22,527.8 ​ All outstanding medium-term notes and other notes are senior unsecured borrowings and generally rank equally with each other. Medium-term notes are primarily offered by prospectus and have serial maturity dates through 2033. The medium-term notes in the table above include unamortized fair value adjustments related to interest rate swaps. The principal balance and weighted-average interest rates on medium-term notes were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ Medium-term notes: ​ ​ ​ ​ ​ ​ ​ Principal ​ $ 28,733.5 ​ $ 23,564.6 ​ Average interest rates * ​ ​ 4.9% ​ ​ 2.9% ​ * The principal amounts of medium-term notes maturing in each of the next five years are as follows: 2024 - $6,047.8, 2025 -$7,214.7, 2026 - $6,933.7, 2027 - $2,900.0, and 2028 - $4,635.1.

Capital Stock

Capital Stock	12 Months Ended
	Oct. 29, 2023
Capital Stock
Capital Stock	Note 10. Capital Stock All of Capital Corporation’s common stock is owned by JDFS, a wholly-owned finance holding subsidiary of Deere & Company. No shares of common stock of Capital Corporation were reserved for officers or employees or for options, warrants, conversions, or other rights at October 29, 2023 or October 30, 2022. At October 29, 2023 and October 30, 2022, Capital Corporation had authorized, but not issued, 10,000 shares of $1 par value preferred stock.

Capital Investments and Dividen

Capital Investments and Dividends	12 Months Ended
	Oct. 29, 2023
Capital Investments and Dividends
Capital Investments and Dividends	Note 11. Capital Investments and Dividends The following capital investments were received from JDFS and cash dividends were declared and paid to JDFS during 2023, 2022, and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Capital investments ​ $ 810.0 ​ ​ ​ ​ ​ ​ ​ Dividends ​ ​ 165.0 ​ $ 370.0 ​ $ 485.0 ​ ​ In each case, JDFS either received a comparable capital investment or paid a comparable dividend to Deere & Company. The capital investments during 2023 were made to maintain targeted average leverage ratios and were driven by growth in total Receivables and corresponding borrowings.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	12 Months Ended
	Oct. 29, 2023
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits	Note 12. Pension and Other Postretirement Benefits We are a participating employer in certain Deere & Company sponsored defined benefit pension plans for employees in the U.S. and certain defined benefit pension plans outside the U.S. These pension plans provide for benefits that are based primarily on years of service and employee compensation. Pension expense (benefit) is actuarially determined based on our employees included in the plan. Our pension expense (benefit) was $(4.8) in 2023 and was not significant in 2022 or 2021. The accumulated benefit obligation and plan net assets for our employees are not determined separately from Deere & Company. We provide defined benefit health care and life insurance plans for certain retired employees in the U.S. as a participating employer in Deere & Company’s sponsored plans. Health care and life insurance benefits expense is actuarially determined based on our employees included in the plans and amounted to $6.2 in 2023, $6.0 in 2022, and $6.1 in 2021. We are a participating employer in certain Deere & Company sponsored defined contribution plans related to employee investment and savings plans primarily in the U.S. Our contributions and costs under these plans were $14.4 in 2023, $13.8 in 2022, and $11.8 in 2021. Further disclosure for the plans described above is included in the notes to the Deere & Company Annual Report on Form 10-K for the year ended October 29, 2023 (the “Deere & Company 2023 Form 10-K”).

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Oct. 29, 2023
Share-Based Compensation
Share-Based Compensation	Note 13. Share-Based Compensation Some of our employees participate in Deere & Company share-based compensation plans. During 2023, 2022, and 2021, the total share-based compensation expense and income tax benefit recognized was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Share-based compensation expense ​ $ 8.6 ​ $ 6.4 ​ $ 6.3 ​ Income tax benefit ​ ​ 2.0 ​ ​ 1.5 ​ ​ 1.5 ​ ​ Further disclosure for these plans is included in the notes to the Deere & Company 2023 Form 10-K.

Income Taxes

Income Taxes	12 Months Ended
	Oct. 29, 2023
Income Taxes
Income Taxes	Note 14. Income Taxes We are subject to income taxes in a number of jurisdictions. The income tax provision is determined using the asset and liability method. The provision for income taxes by taxing jurisdiction and by significant component consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ (98.6) ​ $ 200.8 ​ $ 231.1 ​ State ​ (33.7) ​ 10.8 ​ 15.2 ​ Foreign ​ 41.0 ​ 29.3 ​ 37.2 ​ Total current ​ (91.3) ​ 240.9 ​ 283.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ 230.6 ​ (48.9) ​ (75.4) ​ State ​ 29.1 ​ 3.2 ​ 1.9 ​ Foreign ​ (2.5) ​ 10.4 ​ (16.2) ​ Total deferred ​ 257.2 ​ (35.3) ​ (89.7) ​ Provision for income taxes ​ $ 165.9 ​ $ 205.6 ​ $ 193.8 ​ ​ Our taxable income is included in the consolidated U.S. income tax return and various state returns of Deere & Company. Under tax sharing arrangements with Deere & Company, our provision for income taxes is generally recorded as if Capital Corporation and each of our subsidiaries filed separate income tax returns, with a modification for realizability of certain tax benefits. The difference between the provision for income taxes recorded by us and the provision for income taxes calculated on an unmodified, separate return basis was not material in 2023, 2022, or 2021. The amounts due from (payable to) Deere & Company under the tax sharing arrangements at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Tax sharing receivables ​ $ 43.8 ​ $ 6.3 Tax sharing payables ​ ​ (7.5) ​ ​ (9.3) The tax sharing receivables are included in “Other receivables” and the payables are included in “Accounts payable and accrued expenses.” A comparison of the statutory and effective income tax provision and reasons for related differences follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 U.S. federal income tax provision at a statutory rate (21 percent) ​ $ 154.1 ​ $ 187.8 ​ $ 184.4 ​ Increase (decrease) resulting from: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tax rates on foreign earnings ​ 1.4 ​ 6.0 ​ 5.5 ​ State and local income taxes, net of federal income tax benefit ​ .4 ​ 11.3 ​ 13.7 ​ Other - net ​ 10.0 ​ .5 ​ (9.8) ​ Provision for income taxes ​ $ 165.9 ​ $ 205.6 ​ $ 193.8 ​ ​ At October 29, 2023, accumulated earnings of $87.0 in certain subsidiaries outside the U.S. are expected to remain indefinitely reinvested outside of the U.S. As such, a provision for foreign withholding taxes has not been made. Determination of the amount of foreign withholding tax liability on these unremitted earnings is not practicable. Deferred income taxes arise because there are certain items that are treated differently for financial accounting than for income tax reporting purposes. An analysis of deferred income tax assets and liabilities at October 29, 2023 and October 30, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Deferred Deferred Deferred Deferred ​ ​ Tax ​ Tax ​ Tax ​ Tax ​ ​ Assets ​ Liabilities ​ Assets ​ Liabilities Lease transactions ​ $ 1.2 ​ $ 562.6 ​ $ .1 ​ $ 262.6 ​ Accrual for retirement and other benefits ​ ​ 3.8 ​ ​ ​ ​ ​ 5.3 ​ ​ ​ ​ Accrual for other employee benefits ​ ​ 19.6 ​ ​ ​ ​ ​ 14.3 ​ ​ ​ ​ Allowance for credit losses ​ ​ 39.8 ​ ​ ​ ​ ​ 32.6 ​ ​ ​ ​ Net unrealized gain on derivatives/investments ​ ​ ​ ​ ​ 8.8 ​ ​ ​ ​ ​ 26.5 ​ Tax loss and tax credit carryforwards ​ 27.6 ​ ​ ​ ​ 11.6 ​ ​ ​ ​ Federal taxes on deferred state tax deductions ​ 4.9 ​ ​ ​ ​ 7.8 ​ ​ ​ ​ Miscellaneous accruals and other ​ 61.1 ​ ​ 8.1 ​ 46.8 ​ ​ 4.1 ​ Less valuation allowances ​ (10.2) ​ ​ ​ ​ (8.3) ​ ​ ​ ​ Deferred income tax assets and liabilities ​ $ 147.8 ​ $ 579.5 ​ $ 110.2 ​ $ 293.2 ​ ​ At October 29, 2023, tax loss and tax credit carryforwards of $27.6 were available, with $26.3 expiring from 2029 through 2043 and $1.3 with an indefinite carryforward period. A reconciliation of the total amounts of unrecognized tax benefits at October 29, 2023, October 30, 2022, and October 31, 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Beginning of year balance ​ $ 36.5 ​ $ 34.9 ​ $ 33.3 ​ Increases to tax positions taken during the current year ​ 15.0 ​ 9.3 ​ 11.2 ​ Increases to tax positions taken during prior years ​ 3.2 ​ 1.2 ​ 1.4 ​ Decreases to tax positions taken during prior years ​ (6.9) ​ (6.1) ​ (5.8) ​ Decreases due to lapse of statute of limitations ​ (2.6) ​ (2.7) ​ (3.7) ​ Settlements ​ ​ (.8) ​ ​ (.1) ​ ​ (1.5) ​ End of year balance ​ $ 44.4 ​ $ 36.5 ​ $ 34.9 ​ ​ The amount of unrecognized tax benefits at October 29, 2023 and October 30, 2022 that would impact the effective tax rate if the tax benefits were recognized was $26.8 and $25.2, respectively. The remaining liability was related to tax positions for which there are offsetting tax receivables, or the uncertainty was only related to timing. We expect that any reasonably possible change in the amounts of unrecognized tax benefits in the next twelve months would not be significant. We file our tax returns according to the tax laws of the jurisdictions in which we operate, which includes the U.S. federal jurisdiction, and various state and foreign jurisdictions. We are included in the consolidated U.S. income tax return and various state returns of Deere & Company. The U.S. Internal Revenue Service has completed the examination of Deere & Company’s federal income tax returns for periods prior to 2015. The federal income tax returns for years 2015 to 2020 are currently under examination. Various state and foreign income tax returns also remain subject to examination by taxing authorities. Our policy is to recognize interest related to income taxes in “Interest expense” and “Other income,” and recognize penalties in “Administrative and operating expenses.” The amount of interest and penalties recognized was not significant for any of the periods presented. At October 29, 2023 and October 30, 2022, the liability for accrued interest and penalties totaled $12.3 and $12.8, respectively.

Other Income and Administrative

Other Income and Administrative and Operating Expenses	12 Months Ended
	Oct. 29, 2023
Other Income and Administrative and Operating Expenses
Other Income and Administrative and Operating Expenses	Note 15. Other Income and Administrative and Operating Expenses The major components of other income and administrative and operating expenses were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Other income ​ ​ ​ ​ ​ ​ ​ ​ ​ Fees and interest from John Deere ​ $ 47.0 ​ $ 28.5 ​ $ 25.6 External interest income ​ ​ 63.1 ​ ​ 8.6 ​ ​ 2.9 Operating lease disposition gains - net ​ ​ 31.0 ​ ​ 66.9 ​ ​ 65.0 Freestanding credit enhancement recoveries ​ ​ 17.0 ​ ​ 8.5 ​ ​ 14.3 Other ​ 18.2 ​ 23.2 ​ 13.7 Total ​ $ 176.3 ​ $ 135.7 ​ $ 121.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ Compensation and benefits ​ $ 273.8 ​ $ 252.9 ​ $ 249.0 Computer processing and software ​ ​ 58.3 ​ ​ 55.8 ​ ​ 52.0 Property taxes on leased assets ​ ​ 23.3 ​ ​ 33.0 ​ ​ 29.0 Foreign currency exchange losses - net ​ ​ 20.4 ​ ​ 25.6 ​ ​ 14.9 Dealer financing incentives * ​ ​ 129.9 ​ ​ 77.3 ​ ​ 81.9 Other ​ 63.7 ​ 57.0 ​ 45.0 Total ​ $ 569.4 ​ $ 501.6 ​ $ 471.8 ​ *

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Oct. 29, 2023
Supplemental Cash Flow Information
Supplemental Cash Flow Information	Note 16. Supplemental Cash Flow Information For purposes of the statements of consolidated cash flows, all cash flows related to short-term borrowings with original maturities of three months or less, in addition to securitization borrowings, are reported on a net basis. During 2023, we issued $4,479.6 and retired $3,194.5 of retail note securitization borrowings. Supplemental cash flow information was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Cash paid for interest ​ $ 1,726.6 ​ $ 606.8 ​ $ 562.4 Cash paid (received) for income taxes ​ ​ (43.2) ​ ​ 280.9 ​ ​ 306.8 ​

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Oct. 29, 2023
Commitments and Contingencies
Commitments and Contingencies	Note 17. Commitments and Contingencies We provide guarantees related to certain financial instruments issued by John Deere Financial Inc., a John Deere finance subsidiary in Canada. At October 29, 2023, the following notional amounts were guaranteed by us: ● Medium-term notes: $2,855.8 ● Commercial paper: $2,418.0 ● Derivatives: $3,581.2, with a fair value liability of $125.8 The weighted-average interest rate on the medium-term notes at October 29, 2023 was 2.9 percent with a maximum remaining maturity of six years. We have commitments to extend credit to customers and John Deere dealers through lines of credit and other pre-approved credit arrangements. We apply the same credit policies and approval process for these commitments to extend credit as we do for our Receivables and Leases, and generally have the right to unconditionally cancel, alter, or amend the terms at any time. Collateral is not required for these commitments, but if credit is extended, collateral may be required upon funding. 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 unused commitments at October 29, 2023 were as follows: ● John Deere dealers: $8.0 billion ● Customers: $31.7 billion, primarily related to revolving charge accounts We have a reserve for credit losses of $2.0 on unfunded commitments that are not unconditionally cancellable at October 29, 2023, which is recorded in “Accounts payable and accrued expenses.” At October 29, 2023, we 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 October 29, 2023. We are subject to various unresolved legal actions which arise in the normal course of our business, the most prevalent of which relate to retail credit matters. We believe the reasonably possible range of losses for these unresolved legal actions would not have a material effect on our consolidated financial statements.

Other Comprehensive Income Item

Other Comprehensive Income Items	12 Months Ended
	Oct. 29, 2023
Other Comprehensive Income Items
Other Comprehensive Income Items	Note 18. Other Comprehensive Income Items The after-tax components of accumulated other comprehensive income (loss) at October 29, 2023, October 30, 2022, and October 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Cumulative translation adjustment ​ $ (136.8) ​ $ (169.0) ​ $ (54.5) Unrealized gain on derivatives ​ ​ 34.8 ​ ​ 66.8 ​ ​ 6.8 Unrealized loss on debt securities ​ ​ (2.4) ​ ​ (2.5) ​ ​ (1.7) Total accumulated other comprehensive income (loss) ​ $ (104.4) ​ $ (104.7) ​ $ (49.4) ​ The following reflect amounts recorded in and reclassifications out of other comprehensive income (loss) and the income tax effects: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax ​ ​ Amount ​ Credit ​ Amount 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 32.2 ​ ​ ​ ​ $ 32.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 25.4 ​ $ (5.3) ​ 20.1 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (65.9) ​ 13.8 ​ (52.1) ​ Net unrealized gain (loss) on derivatives ​ (40.5) ​ 8.5 ​ (32.0) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .1 ​ ​ ​ ​ ​ .1 ​ Total other comprehensive income (loss) ​ $ (8.2) ​ $ 8.5 ​ $ .3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (114.5) ​ ​ ​ ​ $ (114.5) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 88.3 ​ $ (18.5) ​ 69.8 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (12.4) ​ 2.6 ​ (9.8) ​ Net unrealized gain (loss) on derivatives ​ 75.9 ​ (15.9) ​ 60.0 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (1.1) ​ ​ .3 ​ ​ (.8) ​ Total other comprehensive income (loss) ​ $ (39.7) ​ $ (15.6) ​ $ (55.3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 15.0 ​ ​ ​ ​ $ 15.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 7.7 ​ $ (1.6) ​ 6.1 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 9.4 ​ (2.0) ​ 7.4 ​ Net unrealized gain (loss) on derivatives ​ 17.1 ​ (3.6) ​ 13.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 31.9 ​ $ (3.5) ​ $ 28.4 ​ ​

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Oct. 29, 2023
Fair Value Measurements
Fair Value Measurements	Note 19. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, we use various methods, including market and income approaches. We utilize valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions, including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied. Level 1 measurements consist of quoted prices in active markets for identical assets or liabilities. Level 2 measurements include significant other observable inputs, such as quoted prices for similar assets or liabilities in active markets; identical assets or liabilities in inactive markets; observable inputs such as interest rates and yield curves; and other market-corroborated inputs. Level 3 measurements include significant unobservable inputs. The fair values of financial instruments that do not approximate the carrying values at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ​ Carrying Fair Carrying Fair ​ ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 43,862.4 ​ $ 43,168.7 ​ $ 36,377.3 ​ $ 35,562.4 ​ Retail notes securitized – net ​ 7,335.4 ​ 7,055.8 ​ 5,935.9 ​ 5,696.3 ​ Securitization borrowings ​ 6,995.2 ​ 6,921.1 ​ 5,710.9 ​ 5,576.6 ​ Current maturities of long-term external borrowings ​ 6,059.9 ​ 5,953.0 ​ 5,989.6 ​ 5,887.7 ​ Long-term external borrowings ​ 27,439.3 ​ 27,057.7 ​ 22,527.8 ​ 21,792.7 ​ ​ 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 us for similar Receivables. The fair values of the remaining Receivables approximated the carrying amounts. Fair values of long-term external borrowings and securitization borrowings were based on current market quotes for identical or similar borrowings and credit risk, or on the discounted values of their related cash flows at current market interest rates. Certain long-term external borrowings have been swapped to current variable interest rates. The carrying values of these long-term external borrowings include adjustments related to fair value hedges. Assets and liabilities measured at October 29, 2023 and October 30, 2022 at fair value on a recurring basis were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.4 ​ $ 1.1 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 144.4 ​ ​ 214.8 ​ Other assets ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 11.3 ​ ​ 1.3 ​ Total assets ​ $ 157.1 ​ $ 217.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 974.9 ​ $ 1,024.2 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ .5 ​ ​ 14.1 ​ Total liabilities ​ $ 975.4 ​ $ 1,038.3 ​ ​ All fair value measurements in the table above were Level 2. Excluded from the table above were our cash equivalents, which were carried at a cost that approximates fair value. The cash equivalents consist of time deposits and money market funds. The international debt securities mature over the next seven years. At October 29, 2023, the amortized cost basis and fair value of these available-for-sale debt securities were $5.1 and $1.4, respectively. Unrealized losses at October 29, 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 the periods ended October 29, 2023, October 30, 2022, and October 31, 2021. The following is a description of the valuation methodologies we use to measure certain balance sheet items at fair value: Marketable securities – Derivatives – Receivables –

Derivative Instruments

Derivative Instruments	12 Months Ended
	Oct. 29, 2023
Derivative Instruments
Derivative Instruments	Note 20. Derivative Instruments Our outstanding derivatives transactions are with both unrelated external counterparties and with John Deere. For derivatives transactions with John Deere, we utilize 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 us. Except for collateral provisions, the terms of the transaction between John Deere and us 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. Derivative asset and liability positions for transactions with unrelated external counterparty banks are recorded in “Other assets” and “Accounts payable and accrued expenses,” respectively. The fair value of our derivative instruments and the associated notional amounts were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ October 30, 2022 ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ ​ Notional ​ Asset ​ Liability ​ Notional ​ Asset ​ Liability ​ Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ $ 1,500.0 ​ $ 44.7 ​ ​ ​ ​ $ 1,950.0 ​ $ 87.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ ​ 11,859.4 ​ ​ ​ ​ $ 915.7 ​ ​ 9,448.9 ​ ​ ​ ​ $ 947.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ ​ 8,010.9 ​ ​ 72.2 ​ ​ 27.4 ​ ​ 3,931.3 ​ ​ 75.5 ​ ​ 25.2 ​ Foreign currency exchange contracts ​ ​ 1,546.5 ​ ​ 11.3 ​ ​ .5 ​ ​ 1,069.0 ​ ​ 1.3 ​ ​ 14.1 ​ Cross-currency interest rate contracts ​ ​ 175.8 ​ ​ 3.2 ​ ​ 7.5 ​ ​ 134.2 ​ ​ 2.8 ​ ​ 2.1 ​ Interest rate caps - sold ​ ​ 1,336.0 ​ ​ ​ ​ ​ 24.3 ​ ​ 1,020.3 ​ ​ ​ ​ ​ 49.0 ​ Interest rate caps - purchased ​ ​ 1,336.0 ​ ​ 24.3 ​ ​ ​ ​ ​ 1,020.3 ​ ​ 49.0 ​ ​ ​ ​ ​ The amount of gain recorded in OCI related to cash flow hedges at October 29, 2023 that is expected to be reclassified to interest expense in the next twelve months if interest rates remain unchanged is $33.3 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, at October 29, 2023 and October 30, 2022, in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows. 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 ​ 2023 Hedged Item Hedging Adjustment Hedged Item Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,814.0 ​ $ 14.9 ​ Long-term external borrowings ​ $ 10,883.7 ​ $ (922.6) ​ ​ 7,144.1 ​ ​ (288.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​ ​ The classification and gains (losses), including accrued interest expense, related to derivative instruments on the statements of consolidated income consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ (518.7) ​ $ (1,102.0) ​ $ (208.9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) $ 25.4 ​ $ 88.3 ​ $ 7.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense 65.9 ​ 12.4 ​ (9.4) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ 27.3 ​ $ 62.4 ​ $ 5.2 ​ Foreign currency exchange contracts - Administrative and operating expenses * 19.1 ​ 169.3 ​ (26.6) ​ Total not designated ​ $ 46.4 ​ $ 231.7 ​ $ (21.4) ​ ​   Included in the table above are interest expense and administrative and operating expense amounts we incurred on derivatives transacted with John Deere. The amounts we recognized on these affiliate party transactions were losses of $437.1, $1,021.7, and $224.3 during 2023, 2022, and 2021, respectively. Counterparty Risk and Collateral Derivative instruments are subject to significant concentrations of credit risk in the banking sector. We manage individual unrelated external counterparty exposure by setting limits that consider the credit rating of the unrelated external counterparty, the credit default swap spread of the counterparty, and other financial commitments and exposures between us and the unrelated external counterparty banks. All interest rate derivatives are transacted under International Swaps and Derivatives Association (ISDA) documentation. Each master agreement permits the net settlement of amounts owed in the event of default or termination. None of our derivative agreements contain credit-risk-related contingent features. We have ISDA agreements with John Deere that permit the net settlement of amounts owed between counterparties in the event of early termination. In addition, we have a loss sharing agreement with John Deere in which we have 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 our exposures. The loss sharing agreement did not increase the maximum amount of loss that we would incur, after considering collateral received and netting arrangements, as of October 29, 2023 and October 30, 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 at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 11.3 ​ $ (.1) ​ ​ ​ $ 11.2 ​ John Deere ​ 144.4 ​ (107.0) ​ ​ ​ ​ 37.4 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .5 ​ (.1) ​ ​ ​ ​ .4 ​ John Deere ​ 974.9 ​ (107.0) ​ ​ ​ ​ 867.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount 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 ​ ​

Geographic Area Information

Geographic Area Information	12 Months Ended
	Oct. 29, 2023
Geographic Area Information
Geographic Area Information	Note 21. Geographic Area Information Based on the way our operations are managed and evaluated by management and materiality considerations, we operate as one operating segment. However, geographic area information for revenues and Receivables attributed to the U.S. and countries outside the U.S. is disclosed below. No individual foreign country’s revenues or Receivables were material for disclosure purposes. Geographic area information as of and for the years ended October 29, 2023, October 30, 2022, and October 31, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 3,456.5 ​ $ 2,450.5 ​ $ 2,393.0 ​ Outside the U.S. ​ 519.0 ​ 356.1 ​ 330.7 ​ Total ​ $ 3,975.5 ​ $ 2,806.6 ​ $ 2,723.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 44,260.0 ​ $ 36,555.6 ​ $ 30,713.2 ​ Outside the U.S. ​ 7,084.2 ​ 5,886.0 ​ 5,911.5 ​ Total ​ $ 51,344.2 ​ $ 42,441.6 ​ $ 36,624.7 ​ ​

Unconsolidated Affiliated Compa

Unconsolidated Affiliated Company	12 Months Ended
	Oct. 29, 2023
Unconsolidated Affiliated Company
Unconsolidated Affiliated Company	Note 22. Unconsolidated Affiliated Company Our investment in an unconsolidated affiliated company consists of a 50 percent ownership in John Deere Financial S.A.S., a joint venture in France that primarily offers loans and leases to customers. We do not control the joint venture and account for our investment in the joint venture on the equity basis. Our share of the income or loss of this joint venture is reported in “Equity in income of unconsolidated affiliate,” and the investment is reported in “Investment in unconsolidated affiliate.” Summarized financial information of the unconsolidated affiliated company for the relevant fiscal years was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue ​ $ 25.5 ​ $ 17.7 ​ $ 16.6 ​ Net income ​ 7.8 ​ 9.0 ​ 5.9 ​ The Company’s equity in net income ​ 3.9 ​ 4.5 ​ 3.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Financial Position: ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 606.5 ​ $ 496.3 ​ Total external borrowings ​ 541.3 ​ 449.3 ​ Total net assets ​ 55.2 ​ 45.2 ​ The Company’s share of net assets ​ 27.6 ​ 22.6 ​ ​

Immaterial Restatement of Prior

Immaterial Restatement of Prior Period Financial Statements	12 Months Ended
	Oct. 29, 2023
Immaterial Restatement of Prior Period Financial Statements
Immaterial Restatement of Prior Period Financial Statements	Note 23. Immaterial Restatement of Prior Period Financial Statements In the second quarter of 2023, we corrected the accounting treatment for financing incentives The prior period impacts to our statements of consolidated income and the related impacts to our statements of consolidated comprehensive income for the years ended October 30, 2022 and October 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income earned on retail notes $ 1,023.3 ​ $ 41.2 ​ $ 1,064.5 ​ $ 946.6 ​ $ 29.4 ​ $ 976.0 Lease revenues ​ 957.5 ​ ​ 6.2 ​ ​ 963.7 ​ ​ 1,022.0 ​ ​ 6.3 ​ ​ 1,028.3 Total revenues ​ 2,759.2 ​ ​ 47.4 ​ ​ 2,806.6 ​ ​ 2,688.0 ​ ​ 35.7 ​ ​ 2,723.7 Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ 440.1 ​ ​ 61.5 ​ ​ 501.6 ​ ​ 406.0 ​ ​ 65.8 ​ ​ 471.8 Total operating expenses ​ 1,353.4 ​ ​ 61.5 ​ ​ 1,414.9 ​ ​ 1,306.8 ​ ​ 65.8 ​ ​ 1,372.6 Total expenses ​ 1,850.7 ​ ​ 61.5 ​ ​ 1,912.2 ​ ​ 1,779.7 ​ ​ 65.8 ​ ​ 1,845.5 Income of Consolidated Group before Income Taxes ​ 908.5 ​ ​ (14.1) ​ ​ 894.4 ​ ​ 908.3 ​ ​ (30.1) ​ ​ 878.2 Provision for income taxes ​ 209.0 ​ ​ (3.4) ​ ​ 205.6 ​ ​ 200.5 ​ ​ (6.7) ​ ​ 193.8 Income of Consolidated Group ​ 699.5 ​ ​ (10.7) ​ ​ 688.8 ​ ​ 707.8 ​ ​ (23.4) ​ ​ 684.4 Net Income ​ 704.0 ​ ​ (10.7) ​ ​ 693.3 ​ ​ 710.8 ​ ​ (23.4) ​ ​ 687.4 Net Income Attributable to the Company $ 704.3 ​ $ (10.7) ​ $ 693.6 ​ $ 710.6 ​ $ (23.4) ​ $ 687.2 ​ The prior period impacts to our consolidated balance sheet and the related components of stockholder’s equity as of October 30, 2022 were as shown below. In addition, beginning retained earnings for the year ended October 30, 2022 decreased $108.7 from $3,091.0 to $2,982.3, and beginning retained earnings for the year ended October 31, 2021 decreased $85.3 from $2,891.6 to $2,806.3. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Assets ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ Retail notes $ 22,860.3 ​ $ (61.3) ​ $ 22,799.0 Total receivables 42,502.9 ​ (61.3) ​ 42,441.6 Total receivables – net 42,374.5 ​ (61.3) ​ 42,313.2 Deferred income taxes 23.3 ​ 2.2 ​ 25.5 Total Assets $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholder’s Equity ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses $ 866.1 ​ $ 91.2 ​ $ 957.3 Deferred income taxes 239.4 ​ (30.9) ​ 208.5 Total liabilities 44,123.1 ​ 60.3 ​ 44,183.4 Stockholder’s equity: ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings 3,425.3 ​ (119.4) ​ 3,305.9 Total Company stockholder’s equity 4,803.4 ​ (119.4) ​ 4,684.0 Total stockholder’s equity 4,804.9 ​ (119.4) ​ 4,685.5 Total Liabilities and Stockholder’s Equity $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 The prior period impacts to our statements of consolidated cash flows for the years ended October 30, 2022 and October 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted ​ Reported Adjustment Adjusted Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 704.0 ​ $ (10.7) ​ $ 693.3 ​ $ 710.8 ​ $ (23.4) ​ $ 687.4 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit for deferred income taxes ​ (32.0) ​ ​ (3.3) ​ ​ (35.3) ​ ​ (83.3) ​ ​ (6.4) ​ ​ (89.7) Change in accounts payable and accrued expenses ​ 14.4 ​ ​ (2.4) ​ ​ 12.0 ​ ​ (39.5) ​ ​ 21.6 ​ ​ (17.9) Other ​ (164.2) ​ ​ 16.4 ​ ​ (147.8) ​ ​ 33.3 ​ ​ 8.2 ​ ​ 41.5 Net cash provided by operating activities $ 1,205.9 ​ $ ​ ​ $ 1,205.9 ​ $ 1,365.9 ​ $ ​ ​ $ 1,365.9 ​

Subsequent Events

Subsequent Events	12 Months Ended
	Oct. 29, 2023
Subsequent Events
Subsequent Events	Note 24. Subsequent Events On December 7, 2023, Capital Corporation declared a $215 dividend paid to JDFS on December 14, 2023. JDFS, in turn, declared a $215 dividend to Deere & Company, also paid on December 14, 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and New Accounting Standards (Policies)	12 Months Ended
	Oct. 29, 2023
Summary of Significant Accounting Policies and New Accounting Standards
Principles of Consolidation, Policy	Principles of Consolidation The consolidated financial statements represent the consolidation of all companies in which Capital Corporation has a controlling interest. Certain variable interest entities (VIEs) are consolidated since we are the primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIEs. We consolidate certain VIEs that are special purpose entities (SPEs) related to the securitization of receivables (see Note 5). We record our investment in each unconsolidated affiliated company (20 to 50 percent ownership) at our related equity in the net assets of such affiliate (see Note 22).
Fiscal Year, Policy	Fiscal Year We use a 52/53 week fiscal year ending on the last Sunday in the reporting period, which generally occurs near the end of October. An additional week is included in the fourth fiscal quarter every five or six years to realign our fiscal quarters with the calendar. The fiscal year ends for 2023, 2022, and 2021 were October 29, 2023, October 30, 2022, and October 31, 2021, respectively. Fiscal years 2023, 2022, and 2021 contained 52 weeks. Unless otherwise stated, references to particular years or quarters refer to our fiscal years and the associated periods in those fiscal years.
Immaterial Restatement of Prior Period Financial Statements	Immaterial Restatement of Prior Period Financial Statements In the second quarter of 2023, we 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 our 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 quarter ended April 30, 2023 was not material to our consolidated financial statements in any of the impacted periods; however, the aggregate impact of correcting prior periods within the quarter ended April 30, 2023 would have been material to our 2023 consolidated financial results. Consequently, we made these immaterial corrections in the comparative prior periods. Refer to Note 23 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.
Use of Estimates in Financial Statements, Policy	Use of Estimates in Financial Statements Certain accounting policies require management to make estimates and assumptions in determining the amounts reflected in the financial statements and related disclosures. Actual results could differ from these estimates.
Cash and Cash Equivalents, Policy	Cash and Cash Equivalents We consider investments with purchased maturities of three months or less to be cash equivalents.
Revenue Recognition, Policy	Revenue Recognition Financing revenue, including compensation from John Deere for waived or reduced finance charges, is recorded over the lives of the related receivables using the interest method. Deferred costs on the origination of receivables are recognized as a reduction in finance revenue over the lives of the receivables using the interest method. Operating lease revenue, including compensation from John Deere, and deferred costs on the origination of operating leases are recognized on a straight-line basis over the scheduled lease terms in lease revenue.
Receivables and Allowance for Credit Losses, Policy	Receivables and Allowance for Credit Losses Receivables are reported on the consolidated balance sheets at outstanding principal and accrued interest, adjusted for any write-offs and any unamortized deferred fees or costs on originated Receivables. We also record an allowance for credit losses and provision for credit losses related to the Receivables. The allowance represents an estimate of the credit losses expected over the life of the Receivable portfolio. Receivables are written off to the allowance when the account is considered uncollectible. Refer to Note 4 for additional information.
Securitization of Receivables, Policy	Securitization of Receivables Certain Receivables are periodically transferred to SPEs in securitization transactions (see Note 5). These securitizations qualify as collateral for secured borrowings and no gains or losses are recognized at the time of securitization. The receivables remain on the consolidated balance sheets and are classified as “Retail notes securitized.” We recognize finance income over the lives of these receivables using the interest method.
Depreciation, Policy	Depreciation We estimate residual values of equipment on operating leases at the inception of the lease, and the equipment is depreciated over the lease terms to the estimated residual value using the straight-line method. We review residual value estimates during the lease term and depreciation is adjusted prospectively on a straight-line basis over the remaining lease term if residual estimates are revised.
Impairment of Long-Lived Assets, Policy	Impairment of Long-Lived Assets We evaluate the carrying value of long-lived assets, including equipment on operating leases, when events or circumstances warrant such a review. If the carrying value of the long-lived asset is considered impaired, it is written down to its fair value.
Fees and Interest Paid to John Deere, Policy	Fees and Interest Paid to John Deere Fees and interest paid to John Deere include corporate support fees and interest on intercompany borrowings from John Deere based on approximate market rates.
Derivative Financial Instruments, Policy	Derivative Financial Instruments It is our policy to use derivative transactions only to manage exposures from the normal course of business. We do not execute derivative transactions for the purpose of creating speculative positions or trading. We have interest rate and foreign currency fluctuation risk between the types and amounts of our Receivable and Lease portfolios and how these portfolios are funded. We also have foreign currency exposures at some of our foreign and domestic operations related to financing in currencies other than the functional currencies. All derivatives are recorded at fair value on the consolidated balance sheets. Cash collateral received or paid is not offset against the derivative fair values on the consolidated balance sheets. The cash flows from the derivative contracts are recorded in operating activities in the statements of consolidated cash flows. Each derivative is designated as a cash flow hedge, fair value hedge, or remains undesignated. Changes in the fair value of derivatives are recorded as follows: ● Cash flow hedges are recorded in other comprehensive income (OCI) and subsequently reclassified into interest expense in the same periods during which the effects of the hedged item (borrowings) impact earnings. These amounts offset the effects of interest rate changes on the related borrowings in interest expense. ● Fair value hedges are recorded in interest expense, and the gains or losses are generally offset by the fair value gains or losses on the hedged items (fixed-rate borrowings), which are also recorded in interest expense. ● Derivatives not designated as hedging instruments are recorded in interest expense (interest rate contracts) or administrative and operating expenses (foreign currency exchange contracts). All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis, the hedging instrument is assessed for its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued (see Note 20).
Financing Incentives, Policy	Financing Incentives We provide incentive funds to John Deere dealers that meet certain performance metrics, which include minimum finance volume and finance market share with us over a defined period. At the end of the qualification period, dealers are granted incentive funds, which can be applied to 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. We accrue 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. As mentioned in Note 1, in the second quarter of 2023 we corrected our accounting policy for financing incentives offered to John Deere dealers. Under the previous accounting treatment, we 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. There was no change to the accounting treatment for the cash portion of the incentive program costs, which continues to be accrued over the qualification period.
Foreign Currency Translation, Policy	Foreign Currency Translation The functional currencies for most of our foreign operations are their respective local currencies. The assets and liabilities of these operations are translated into U.S. dollars using the exchange rates at the end of the period. The revenues and expenses are translated at weighted-average rates for the period. The gains or losses from these translations are recorded in OCI. Gains or losses from transactions denominated in a currency other than the functional currency of the subsidiary involved and foreign currency exchange components of derivative contracts are included in net income. The pretax net losses for foreign currency exchange in 2023, 2022, and 2021 were $20.4, $25.6, and $14.9 respectively, which are reported in “Administrative and operating expenses” and primarily related to our Argentina operations (see Note 1).
New Accounting Standards, Policy	New Accounting Standards We closely monitor all Accounting Standard Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) and other authoritative guidance. We adopted the following standards in 2023, none of which had a material effect on our consolidated financial statements: ​ ​ ​ ​ New Accounting Standards Adopted ​ ​ No. 2021-10 — Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance ​ ​ No. 2021-05 — Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments ​ ​ No. 2021-04 — Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options ​ ​ We will adopt the following standards in future periods, none of which are expected to have a material effect on our consolidated financial statements: ​ ​ New Accounting Standards to be Adopted ​ No. 2022-02 — Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ​ No. 2022-01 — Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method ​ No. 2021-08 — Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ​ ​
Allowance for Credit Losses, Policy	Credit Quality We monitor the credit quality of Receivables based on delinquency status, defined as follows: ● Past due balances represent Receivables still accruing finance income with any payments 30 days or more past the contractual payment due date. ● Non-performing Receivables represent Receivables for which we have stopped accruing finance income, which generally occurs when Customer Receivables are 90 days delinquent and when interest-bearing wholesale receivables become 60 days delinquent. Accrued finance income and lease revenue previously recognized on non-performing Receivables is reversed and subsequently recognized on a cash basis. Accrual of finance income and lease revenue is resumed when the receivable becomes contractually current, and collections are reasonably assured. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Accrued finance income and lease revenue reversed ​ $ 17.1 ​ $ 11.3 ​ $ 12.4 Finance income and lease revenue recognized on cash payments ​ ​ 18.4 ​ ​ 15.4 ​ ​ 17.1 Allowance for Credit Losses The allowance for credit losses is an estimate of the credit losses expected over the life of our Receivable portfolio. Non-performing Receivables are included in the estimate of expected credit losses. The allowance is measured on a collective basis for receivables with similar risk characteristics. Receivables that do not share risk characteristics are evaluated on an individual basis. Risk characteristics include: ● product category, ● market, ● geography, ● credit risk, and ● remaining balance. We utilize the following loss forecast models to estimate expected credit losses: Customer Receivables: ● Transition matrix models are used for large and complex Customer Receivable pools. These models are used for more than 90 percent of Customer Receivables and estimate credit losses using historical delinquency and default information to assign probabilities that a receivable will pay as contractually scheduled or become delinquent and advance through the various delinquency stages. The model simulates the runoff of the portfolio, month-by-month, over the life of the receivables until the balances are fully repaid or default, using roll rates applied to the outstanding portfolio. The roll rates are applied based on the delinquency status of the customer accounts and are further segmented based on the credit risk and remaining balance of the underlying receivables. Estimated recovery rates are applied to the balance at default to calculate the expected credit losses. ● Weighted-average remaining maturity (WARM) models are used for smaller and less complex Customer Receivable pools, and apply historical average annual loss rates, adjusted for current and forecasted economic conditions, to the projected portfolio runoff. Wholesale receivables: ● Historical loss rate models are used for wholesale receivables, with consideration of current economic conditions and dealer financial risk. Changes in economic conditions have historically had limited impact on credit losses in this portfolio. The model output is adjusted for forecasted economic conditions, which may include the economic indicators listed below. ● commodity prices, ● industry equipment sales, ● unemployment rates, and ● housing starts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary.
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 concessions may include a reduction of the stated interest rate, an extension of the maturity date, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest.
Lessor Leases, Policy	We lease 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,” and operating leases are reported in “Equipment on operating leases – net.” Leases offered by us may include early termination and renewal options. At the end of the majority of leases, the lessee generally has the option to purchase the underlying equipment for the contractual residual value or return it to the dealer. If the equipment is returned to the dealer, the dealer also has the option to purchase the equipment or return it to us for remarketing. We have elected to combine lease and nonlease components. The nonlease components primarily relate to preventative maintenance and extended warranty agreements financed by the customer. We have also elected to report consideration related to sales and value-added taxes net of the related tax expense. Property taxes on leased assets are recorded on a gross basis in “Lease revenues” and “Administrative and operating expenses.” Variable lease revenues primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees. Operating lease assets are recorded at cost and depreciated to their estimated residual value on a straight-line method over the term of the leases. We estimate the residual values for operating leases at lease inception based on several factors, including: ● lease term, ● expected hours of usage, ● historical wholesale sale prices, ● return experience, ● intended equipment use, ● market dynamics and trends, and ● third-party residual guarantees.
Unremitted Earnings in Foreign Investment, Policy	At October 29, 2023, accumulated earnings of $87.0 in certain subsidiaries outside the U.S. are expected to remain indefinitely reinvested outside of the U.S. As such, a provision for foreign withholding taxes has not been made. Determination of the amount of foreign withholding tax liability on these unremitted earnings is not practicable.
Fair Value of Financial Instruments, Policy	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, we use various methods, including market and income approaches. We utilize valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions, including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied.

Receivables (Tables)

Receivables (Tables) - Retail notes	12 Months Ended
	Oct. 29, 2023
Receivables
Schedule of Receivables by Market	Retail notes receivable by market at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Unrestricted Securitized Unrestricted Securitized Agriculture and turf – new ​ $ 14,350.6 ​ $ 2,664.9 ​ $ 12,997.8 ​ $ 2,100.2 ​ Agriculture and turf – used ​ 7,344.9 ​ 3,387.4 ​ 6,745.8 ​ 2,767.4 ​ Construction and forestry – new ​ 2,884.1 ​ 1,010.9 ​ 2,776.5 ​ 846.7 ​ Construction and forestry – used ​ 1,067.4 ​ 430.5 ​ 1,105.0 ​ 332.0 ​ Total ​ 25,647.0 ​ 7,493.7 ​ 23,625.1 ​ 6,046.3 ​ Unearned finance income ​ (1,005.9) ​ (136.9) ​ (826.1) ​ (94.7) ​ Retail notes receivable ​ $ 24,641.1 ​ $ 7,356.8 ​ $ 22,799.0 ​ $ 5,951.6 ​
Schedule of Receivable Installments	Gross retail note installments at October 29, 2023 and October 30, 2022 were scheduled to be received as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Unrestricted Securitized Unrestricted Securitized Due in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 0-12 months ​ $ 7,718.5 ​ $ 2,820.5 ​ $ 7,139.7 ​ $ 2,225.2 ​ 13-24 months ​ 6,146.8 ​ 2,088.5 ​ 5,668.8 ​ 1,667.4 ​ 25-36 months ​ 5,047.0 ​ 1,509.0 ​ 4,677.8 ​ 1,208.9 ​ 37-48 months ​ 3,724.5 ​ 824.4 ​ 3,427.2 ​ 709.3 ​ 49-60 months ​ 2,321.1 ​ 240.5 ​ 2,057.6 ​ 226.8 ​ Over 60 months ​ 689.1 ​ 10.8 ​ 654.0 ​ 8.7 ​ Total ​ $ 25,647.0 ​ $ 7,493.7 ​ $ 23,625.1 ​ $ 6,046.3 ​

Allowance for Credit Losses a_2

Allowance for Credit Losses and Credit Quality of Receivables (Tables)	12 Months Ended
	Oct. 29, 2023
Allowance for Credit Losses and Credit Quality of 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Accrued finance income and lease revenue reversed ​ $ 17.1 ​ $ 11.3 ​ $ 12.4 Finance income and lease revenue recognized on cash payments ​ ​ 18.4 ​ ​ 15.4 ​ ​ 17.1 ​ Total Receivable balances represent principal plus accrued interest. Receivable balances are written off to the allowance for credit losses when, in the judgment of management, they are considered uncollectible. Write-offs generally occur when Customer Receivables are 120 days delinquent, and on a case-by-case basis when wholesale receivables are 60 days delinquent. In these situations, collateral is repossessed (for collateral-dependent Receivables) or the account is designated for litigation, and the estimated uncollectible amount is written off to the allowance for credit losses.
Analysis of the Allowance for Credit Losses and Investment in Receivables	An analysis of the allowance for credit losses and investment in Receivables at October 29, 2023, October 30, 2022, and October 31, 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Notes Revolving ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 95.4 ​ $ 21.9 ​ $ 11.1 ​ $ 128.4 ​ Provision (credit) for credit losses* ​ 67.6 ​ ​ 21.2 ​ ​ (.2) ​ ​ 88.6 ​ Write-offs ​ (60.8) ​ ​ (44.4) ​ ​ (.2) ​ ​ (105.4) ​ Recoveries ​ 12.9 ​ ​ 21.8 ​ ​ .6 ​ ​ 35.3 ​ Translation adjustments ​ (.2) ​ ​ (.1) ​ ​ (.2) ​ ​ (.5) ​ End of year balance ​ $ 114.9 ​ $ 20.4 ​ $ 11.1 ​ $ 146.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 33,419.7 ​ $ 4,594.4 ​ $ 13,330.1 ​ $ 51,344.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ Provision (credit) for credit losses* ​ 26.1 ​ ​ (1.8) ​ ​ .1 ​ 24.4 ​ Write-offs ​ (40.7) ​ ​ (26.8) ​ ​ (.3) ​ (67.8) ​ Recoveries ​ 14.4 ​ ​ 29.7 ​ ​ .1 ​ 44.2 ​ Translation adjustments ​ (.9) ​ ​ ​ ​ ​ (.5) ​ (1.4) ​ End of year balance ​ $ 95.4 ​ $ 21.9 ​ $ 11.1 ​ $ 128.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 29,871.3 ​ $ 4,165.8 ​ $ 8,404.5 ​ $ 42,441.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of year balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ 19.7 ​ Provision (credit) for credit losses* ​ 11.8 ​ ​ (17.0) ​ ​ 2.5 ​ (2.7) ​ Write-offs ​ (36.7) ​ ​ (27.8) ​ ​ (.3) ​ (64.8) ​ Recoveries ​ 11.6 ​ ​ 35.5 ​ ​ ​ ​ 47.1 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .2 ​ .6 ​ End of year balance ​ $ 96.5 ​ $ 20.8 ​ $ 11.7 ​ $ 129.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year balance ​ $ 26,933.3 ​ $ 3,740.1 ​ $ 5,951.3 ​ $ 36,624.7 ​ * Excludes provision (credit) for credit losses on unfunded commitments of $(.1), $(.9), and $1.8 for the years ended October 29, 2023, October 30, 2022, and October 31, 2021, respectively. The estimated credit losses related to unfunded commitments are recorded in “Accounts payable and accrued expenses.”
Schedule of Troubled Debt Restructuring Modifications	The following table includes Receivable contracts identified as troubled debt restructurings, which were primarily retail notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Number of receivable contracts ​ ​ 149 ​ ​ 199 ​ ​ 326 Pre-modification balance ​ $ 7.2 ​ $ 7.0 ​ $ 12.0 Post-modification balance ​ ​ 6.7 ​ ​ 5.8 ​ ​ 10.7
Total Write-offs and Recoveries, by Product, and as a Percentage of Average Balances Held	Total write-offs and recoveries, by product, and as a percentage of average balances held during the year, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Dollars Percent Dollars Percent Dollars Percent Write-offs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ $ (31.7) (.12) % $ (21.4) (.09) % $ (18.6) (.09) % Construction and forestry ​ (29.1) (.55) ​ (19.3) (.39) ​ (18.1) (.42) ​ Total retail notes & financing leases ​ (60.8) (.20) ​ (40.7) (.15) ​ (36.7) (.15) ​ Revolving charge accounts ​ (44.4) (1.17) ​ (26.8) (.77) ​ (27.8) (.85) ​ Wholesale receivables ​ (.2) ​ ​ (.3) ​ ​ (.3) ​ ​ Total write-offs ​ (105.4) (.23) ​ (67.8) (.18) ​ (64.8) (.19) ​ Recoveries: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail notes & financing leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ 8.8 .03 ​ 10.2 .05 ​ 9.2 .05 ​ Construction and forestry ​ 4.1 .08 ​ 4.2 .09 ​ 2.4 .06 ​ Total retail notes & financing leases ​ 12.9 .04 ​ 14.4 .05 ​ 11.6 .05 ​ Revolving charge accounts ​ 21.8 .58 ​ 29.7 .86 ​ 35.5 1.08 ​ Wholesale receivables ​ .6 .01 ​ .1 ​ ​ ​ ​ ​ Total recoveries ​ 35.3 .08 ​ 44.2 .12 ​ 47.1 .14 ​ Total net write-offs ​ $ (70.1) (.15) % $ (23.6) (.06) % $ (17.7) (.05) % ​
Customer Receivables
Allowance for Credit Losses and Credit Quality of Receivables
Credit Quality Analysis	The credit quality analysis of Customer Receivables by year of origination was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 12,998.3 ​ $ 7,208.2 ​ $ 4,459.1 ​ $ 1,970.4 ​ $ 666.3 ​ $ 179.3 ​ $ 4,424.8 ​ $ 31,906.4 30-59 days past due ​ ​ 46.8 ​ ​ 66.6 ​ ​ 34.6 ​ ​ 18.7 ​ ​ 8.2 ​ ​ 2.9 ​ ​ 28.1 ​ ​ 205.9 60-89 days past due ​ ​ 15.8 ​ ​ 22.0 ​ ​ 14.8 ​ ​ 7.8 ​ ​ 3.3 ​ ​ 1.3 ​ ​ 8.6 ​ ​ 73.6 90+ days past due ​ ​ 1.4 ​ ​ .8 ​ ​ 2.7 ​ ​ 2.9 ​ ​ .1 ​ ​ .1 ​ ​ ​ ​ ​ 8.0 Non-performing ​ ​ 25.9 ​ ​ 63.7 ​ ​ 44.5 ​ ​ 25.0 ​ ​ 12.9 ​ ​ 12.0 ​ ​ 7.2 ​ ​ 191.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,343.4 ​ ​ 1,586.2 ​ ​ 859.0 ​ ​ 279.2 ​ ​ 65.3 ​ ​ 27.3 ​ ​ 118.6 ​ ​ 5,279.0 30-59 days past due ​ ​ 44.4 ​ ​ 28.1 ​ ​ 24.8 ​ ​ 8.6 ​ ​ 3.4 ​ ​ .4 ​ ​ 4.1 ​ ​ 113.8 60-89 days past due ​ ​ 17.8 ​ ​ 11.4 ​ ​ 11.8 ​ ​ 4.5 ​ ​ 1.0 ​ ​ .2 ​ ​ 1.8 ​ ​ 48.5 90+ days past due ​ ​ .1 ​ ​ 1.2 ​ ​ .1 ​ ​ .1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.5 Non-performing ​ ​ 34.1 ​ ​ 67.5 ​ ​ 51.2 ​ ​ 20.7 ​ ​ 7.5 ​ ​ 4.0 ​ ​ 1.2 ​ ​ 186.2 Total Customer Receivables ​ $ 15,528.0 ​ $ 9,055.7 ​ $ 5,502.6 ​ $ 2,337.9 ​ $ 768.0 ​ $ 227.5 ​ $ 4,594.4 ​ $ 38,014.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2022 ​ ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ Prior Years ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 11,736.1 ​ $ 6,939.9 ​ $ 3,479.6 ​ $ 1,515.8 ​ $ 581.3 ​ $ 152.9 ​ $ 4,022.7 ​ $ 28,428.3 30-59 days past due ​ ​ 40.1 ​ ​ 55.8 ​ ​ 31.4 ​ ​ 15.0 ​ ​ 6.4 ​ ​ 2.7 ​ ​ 18.4 ​ ​ 169.8 60-89 days past due ​ ​ 11.8 ​ ​ 19.5 ​ ​ 10.8 ​ ​ 4.4 ​ ​ 2.0 ​ ​ 1.1 ​ ​ 4.5 ​ ​ 54.1 90+ days past due ​ ​ .4 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .8 Non-performing ​ ​ 24.7 ​ ​ 38.4 ​ ​ 29.2 ​ ​ 13.7 ​ ​ 11.2 ​ ​ 10.2 ​ ​ 7.8 ​ ​ 135.2 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,373.7 ​ ​ 1,526.3 ​ ​ 658.1 ​ ​ 230.7 ​ ​ 57.2 ​ ​ 10.5 ​ ​ 107.7 ​ ​ 4,964.2 30-59 days past due ​ ​ 44.5 ​ ​ 40.6 ​ ​ 20.7 ​ ​ 7.6 ​ ​ 1.8 ​ ​ .6 ​ ​ 3.1 ​ ​ 118.9 60-89 days past due ​ ​ 18.1 ​ ​ 11.4 ​ ​ 6.0 ​ ​ 3.0 ​ ​ .7 ​ ​ .1 ​ ​ 1.0 ​ ​ 40.3 90+ days past due ​ ​ .3 ​ ​ 1.3 ​ ​ ​ ​ ​ 1.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.0 Non-performing ​ ​ 19.3 ​ ​ 51.2 ​ ​ 27.6 ​ ​ 15.4 ​ ​ 5.5 ​ ​ 2.9 ​ ​ .6 ​ ​ 122.5 Total Customer Receivables ​ $ 14,269.0 ​ $ 8,684.6 ​ $ 4,263.6 ​ $ 1,807.0 ​ $ 666.1 ​ $ 181.0 ​ $ 4,165.8 ​ $ 34,037.1
Wholesale Receivables
Allowance for Credit Losses and Credit Quality of Receivables
Credit Quality Analysis	The credit quality analysis of wholesale receivables by year of origination was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 609.5 ​ $ 92.6 ​ $ 20.0 ​ $ 3.9 ​ $ .7 ​ $ 159.9 ​ $ 9,270.1 ​ $ 10,156.7 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 45.8 ​ ​ 45.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5.7 ​ ​ 5.7 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 19.4 ​ ​ 2.5 ​ ​ 19.9 ​ ​ .2 ​ ​ .1 ​ ​ 75.2 ​ ​ 2,987.6 ​ ​ 3,104.9 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 17.0 ​ ​ 17.0 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 628.9 ​ $ 95.1 ​ $ 39.9 ​ $ 4.1 ​ $ .8 ​ $ 235.1 ​ $ 12,326.2 ​ $ 13,330.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 wholesale receivables ​ $ 386.1 ​ $ 91.0 ​ $ 26.4 ​ $ 4.2 ​ $ .4 ​ $ 1.1 ​ $ 7,895.3 ​ $ 8,404.5

Securitization of Receivables (

Securitization of Receivables (Tables)	12 Months Ended
	Oct. 29, 2023
Securitization of Receivables
Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions	The components of the securitization programs at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Retail notes securitized ​ $ 7,356.8 ​ $ 5,951.6 ​ Allowance for credit losses ​ (21.4) ​ (15.7) ​ Other assets (primarily restricted cash) ​ 152.0 ​ 155.2 ​ Total restricted securitized assets ​ $ 7,487.4 ​ $ 6,091.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ Securitization borrowings ​ $ 6,995.2 ​ $ 5,710.9 ​ Accrued interest on borrowings ​ 12.6 ​ 6.1 ​ Total liabilities related to restricted securitized assets ​ $ 7,007.8 ​ $ 5,717.0 ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Oct. 29, 2023
Leases
Schedule of Lease Revenues Earned	Lease revenues earned by us were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Sales-type and direct financing lease revenues ​ $ 90.7 ​ $ 56.6 ​ $ 48.6 Operating lease revenues ​ ​ 894.2 ​ ​ 886.1 ​ ​ 959.3 Variable lease revenues ​ 14.2 ​ 23.4 ​ 26.9 Total lease revenues ​ $ 999.1 ​ $ 966.1 ​ $ 1,034.8 Variable lease revenues reported above include excess use and damage fees of $1.8, $2.4, and $6.5 for 2023, 2022, and 2021, respectively, which were reported in “Other income.”
Schedule of Sales-type and Direct Financing Lease Receivables by Market	Sales-type and direct financing lease receivables by market at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 Agriculture and turf ​ $ 664.4 ​ $ 570.2 Construction and forestry ​ ​ 223.4 ​ 183.7 Total ​ ​ 887.8 ​ ​ 753.9 Guaranteed residual values ​ ​ 701.9 ​ ​ 466.5 Unguaranteed residual values ​ ​ 27.2 ​ ​ 25.9 Unearned finance income ​ (195.1) ​ ​ (125.6) Financing leases receivable ​ $ 1,421.8 ​ $ 1,120.7
Schedule of Payments, Including Guaranteed Residual Values, on Sales-type and Direct Financing Lease Receivables	Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at October 29, 2023 were as follows: ​ ​ ​ ​ Due in: ​ ​ ​ 2024 ​ $ 955.8 2025 ​ ​ 306.9 2026 ​ ​ 168.1 2027 ​ ​ 98.1 2028 ​ ​ 49.9 Later years ​ 10.9 Total ​ $ 1,589.7
Schedule of Cost of Equipment on Operating Leases by Market	The cost of equipment on operating leases by market at October 29, 2023 and October 30, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 Agriculture and turf ​ $ 5,265.2 ​ $ 5,017.3 Construction and forestry ​ ​ 1,042.4 ​ 1,138.0 Total ​ ​ 6,307.6 ​ ​ 6,155.3 Accumulated depreciation ​ (1,256.1) ​ ​ (1,301.8) Equipment on operating leases - net ​ $ 5,051.5 ​ $ 4,853.5
Schedule of Lease Payments for Equipment on Operating Leases	Lease payments for equipment on operating leases at October 29, 2023 were scheduled as follows: ​ ​ ​ ​ Due in: ​ ​ ​ 2024 ​ $ 749.5 2025 ​ ​ 561.3 2026 ​ ​ 321.4 2027 ​ ​ 157.9 2028 ​ ​ 38.9 Later years ​ 7.8 Total ​ $ 1,836.8

Notes Receivable from and Pay_2

Notes Receivable from and Payable to John Deere (Tables)	12 Months Ended
	Oct. 29, 2023
Notes Receivable from and Payable to John Deere
Notes Receivable from and Payable to John Deere	At October 29, 2023 and October 30, 2022 we had notes receivable from John Deere with the following affiliated companies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Banco John Deere S.A. ​ $ 650.7 ​ $ 370.0 ​ John Deere Agricultural Holdings, Inc. ​ ​ ​ .7 ​ Total notes receivable from John Deere ​ $ 650.7 ​ $ 370.7 ​ At October 29, 2023 and October 30, 2022, we had notes payable to John Deere as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Notes payable to John Deere ​ $ 3,184.0 ​ $ 5,225.5 ​ Weighted average interest rate ​ ​ 5.2% ​ ​ 3.3% ​

Short-Term External Borrowings

Short-Term External Borrowings (Tables)	12 Months Ended
	Oct. 29, 2023
Short-Term External Borrowings
Short-Term Borrowings and Weighted-average Interest Rates	Our short-term external borrowings at October 29, 2023 and October 30, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Commercial paper and other notes payable ​ $ 6,836.1 ​ $ 2,402.3 ​ Securitization borrowings ​ 6,995.2 ​ 5,710.9 ​ Current maturities of long-term external borrowings * ​ 6,059.9 ​ 5,989.6 ​ Total ​ $ 19,891.2 ​ $ 14,102.8 ​ ​ * Includes unamortized fair value adjustments related to interest rate swaps. The weighted-average interest rates at October 29, 2023 and October 30, 2022, were: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ Commercial paper and other notes payable ​ ​ 5.6% ​ ​ 3.4% ​ Securitization borrowings ​ ​ 4.7% ​ ​ 2.8% ​

Long-Term External Borrowings (

Long-Term External Borrowings (Tables)	12 Months Ended
	Oct. 29, 2023
Long-Term External Borrowings
Long-Term Borrowings	Long-term external borrowings at October 29, 2023 and October 30, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Senior Debt: ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ $ 27,522.8 ​ $ 22,595.4 ​ Other notes ​ ​ ​ 2.5 ​ Total senior debt ​ 27,522.8 ​ 22,597.9 ​ Unamortized debt discount and debt issuance costs ​ (83.5) ​ (70.1) ​ Total ​ $ 27,439.3 ​ $ 22,527.8 ​ All outstanding medium-term notes and other notes are senior unsecured borrowings and generally rank equally with each other. Medium-term notes are primarily offered by prospectus and have serial maturity dates through 2033. The medium-term notes in the table above include unamortized fair value adjustments related to interest rate swaps. The principal balance and weighted-average interest rates on medium-term notes were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ Medium-term notes: ​ ​ ​ ​ ​ ​ ​ Principal ​ $ 28,733.5 ​ $ 23,564.6 ​ Average interest rates * ​ ​ 4.9% ​ ​ 2.9% ​ *

Capital Investments and Divid_2

Capital Investments and Dividends (Tables)	12 Months Ended
	Oct. 29, 2023
Capital Investments and Dividends
Capital Investments Received and Dividends Declared and Paid	The following capital investments were received from JDFS and cash dividends were declared and paid to JDFS during 2023, 2022, and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Capital investments ​ $ 810.0 ​ ​ ​ ​ ​ ​ ​ Dividends ​ ​ 165.0 ​ $ 370.0 ​ $ 485.0 ​

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Oct. 29, 2023
Share-Based Compensation
Share-based Compensation Expense and Income Tax Benefit Recognized	Some of our employees participate in Deere & Company share-based compensation plans. During 2023, 2022, and 2021, the total share-based compensation expense and income tax benefit recognized was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Share-based compensation expense ​ $ 8.6 ​ $ 6.4 ​ $ 6.3 ​ Income tax benefit ​ ​ 2.0 ​ ​ 1.5 ​ ​ 1.5 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Oct. 29, 2023
Income Taxes
Provision for Income Taxes by Taxing Jurisdiction and by Significant Component	We are subject to income taxes in a number of jurisdictions. The income tax provision is determined using the asset and liability method. The provision for income taxes by taxing jurisdiction and by significant component consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ (98.6) ​ $ 200.8 ​ $ 231.1 ​ State ​ (33.7) ​ 10.8 ​ 15.2 ​ Foreign ​ 41.0 ​ 29.3 ​ 37.2 ​ Total current ​ (91.3) ​ 240.9 ​ 283.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S.: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ 230.6 ​ (48.9) ​ (75.4) ​ State ​ 29.1 ​ 3.2 ​ 1.9 ​ Foreign ​ (2.5) ​ 10.4 ​ (16.2) ​ Total deferred ​ 257.2 ​ (35.3) ​ (89.7) ​ Provision for income taxes ​ $ 165.9 ​ $ 205.6 ​ $ 193.8 ​
Amounts Due from (Payable to) Deere & Company Under the Tax Sharing Arrangements	The amounts due from (payable to) Deere & Company under the tax sharing arrangements at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Tax sharing receivables ​ $ 43.8 ​ $ 6.3 Tax sharing payables ​ ​ (7.5) ​ ​ (9.3) The tax sharing receivables are included in “Other receivables” and the payables are included in “Accounts payable and accrued expenses.”
Comparison of Statutory and Effective Income Tax Provision	A comparison of the statutory and effective income tax provision and reasons for related differences follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 U.S. federal income tax provision at a statutory rate (21 percent) ​ $ 154.1 ​ $ 187.8 ​ $ 184.4 ​ Increase (decrease) resulting from: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tax rates on foreign earnings ​ 1.4 ​ 6.0 ​ 5.5 ​ State and local income taxes, net of federal income tax benefit ​ .4 ​ 11.3 ​ 13.7 ​ Other - net ​ 10.0 ​ .5 ​ (9.8) ​ Provision for income taxes ​ $ 165.9 ​ $ 205.6 ​ $ 193.8 ​
Analysis of Deferred Income Tax Assets and Liabilities	Deferred income taxes arise because there are certain items that are treated differently for financial accounting than for income tax reporting purposes. An analysis of deferred income tax assets and liabilities at October 29, 2023 and October 30, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Deferred Deferred Deferred Deferred ​ ​ Tax ​ Tax ​ Tax ​ Tax ​ ​ Assets ​ Liabilities ​ Assets ​ Liabilities Lease transactions ​ $ 1.2 ​ $ 562.6 ​ $ .1 ​ $ 262.6 ​ Accrual for retirement and other benefits ​ ​ 3.8 ​ ​ ​ ​ ​ 5.3 ​ ​ ​ ​ Accrual for other employee benefits ​ ​ 19.6 ​ ​ ​ ​ ​ 14.3 ​ ​ ​ ​ Allowance for credit losses ​ ​ 39.8 ​ ​ ​ ​ ​ 32.6 ​ ​ ​ ​ Net unrealized gain on derivatives/investments ​ ​ ​ ​ ​ 8.8 ​ ​ ​ ​ ​ 26.5 ​ Tax loss and tax credit carryforwards ​ 27.6 ​ ​ ​ ​ 11.6 ​ ​ ​ ​ Federal taxes on deferred state tax deductions ​ 4.9 ​ ​ ​ ​ 7.8 ​ ​ ​ ​ Miscellaneous accruals and other ​ 61.1 ​ ​ 8.1 ​ 46.8 ​ ​ 4.1 ​ Less valuation allowances ​ (10.2) ​ ​ ​ ​ (8.3) ​ ​ ​ ​ Deferred income tax assets and liabilities ​ $ 147.8 ​ $ 579.5 ​ $ 110.2 ​ $ 293.2 ​
Reconciliation of Total Amounts of Unrecognized Tax Benefits	A reconciliation of the total amounts of unrecognized tax benefits at October 29, 2023, October 30, 2022, and October 31, 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Beginning of year balance ​ $ 36.5 ​ $ 34.9 ​ $ 33.3 ​ Increases to tax positions taken during the current year ​ 15.0 ​ 9.3 ​ 11.2 ​ Increases to tax positions taken during prior years ​ 3.2 ​ 1.2 ​ 1.4 ​ Decreases to tax positions taken during prior years ​ (6.9) ​ (6.1) ​ (5.8) ​ Decreases due to lapse of statute of limitations ​ (2.6) ​ (2.7) ​ (3.7) ​ Settlements ​ ​ (.8) ​ ​ (.1) ​ ​ (1.5) ​ End of year balance ​ $ 44.4 ​ $ 36.5 ​ $ 34.9 ​

Other Income and Administrati_2

Other Income and Administrative and Operating Expenses (Tables)	12 Months Ended
	Oct. 29, 2023
Other Income and Administrative and Operating Expenses
Schedule of major components of other income and administrative and operating expenses	The major components of other income and administrative and operating expenses were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Other income ​ ​ ​ ​ ​ ​ ​ ​ ​ Fees and interest from John Deere ​ $ 47.0 ​ $ 28.5 ​ $ 25.6 External interest income ​ ​ 63.1 ​ ​ 8.6 ​ ​ 2.9 Operating lease disposition gains - net ​ ​ 31.0 ​ ​ 66.9 ​ ​ 65.0 Freestanding credit enhancement recoveries ​ ​ 17.0 ​ ​ 8.5 ​ ​ 14.3 Other ​ 18.2 ​ 23.2 ​ 13.7 Total ​ $ 176.3 ​ $ 135.7 ​ $ 121.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ Compensation and benefits ​ $ 273.8 ​ $ 252.9 ​ $ 249.0 Computer processing and software ​ ​ 58.3 ​ ​ 55.8 ​ ​ 52.0 Property taxes on leased assets ​ ​ 23.3 ​ ​ 33.0 ​ ​ 29.0 Foreign currency exchange losses - net ​ ​ 20.4 ​ ​ 25.6 ​ ​ 14.9 Dealer financing incentives * ​ ​ 129.9 ​ ​ 77.3 ​ ​ 81.9 Other ​ 63.7 ​ 57.0 ​ 45.0 Total ​ $ 569.4 ​ $ 501.6 ​ $ 471.8 ​ *

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Oct. 29, 2023
Supplemental Cash Flow Information
Cash Payments for Interest and Income Taxes	Supplemental cash flow information was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 Cash paid for interest ​ $ 1,726.6 ​ $ 606.8 ​ $ 562.4 Cash paid (received) for income taxes ​ ​ (43.2) ​ ​ 280.9 ​ ​ 306.8 ​

Other Comprehensive Income It_2

Other Comprehensive Income Items (Tables)	12 Months Ended
	Oct. 29, 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) at October 29, 2023, October 30, 2022, and October 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Cumulative translation adjustment ​ $ (136.8) ​ $ (169.0) ​ $ (54.5) Unrealized gain on derivatives ​ ​ 34.8 ​ ​ 66.8 ​ ​ 6.8 Unrealized loss on debt securities ​ ​ (2.4) ​ ​ (2.5) ​ ​ (1.7) Total accumulated other comprehensive income (loss) ​ $ (104.4) ​ $ (104.7) ​ $ (49.4)
Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects	The following reflect amounts recorded in and reclassifications out of other comprehensive income (loss) and the income tax effects: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax ​ ​ Amount ​ Credit ​ Amount 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 32.2 ​ ​ ​ ​ $ 32.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 25.4 ​ $ (5.3) ​ 20.1 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (65.9) ​ 13.8 ​ (52.1) ​ Net unrealized gain (loss) on derivatives ​ (40.5) ​ 8.5 ​ (32.0) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .1 ​ ​ ​ ​ ​ .1 ​ Total other comprehensive income (loss) ​ $ (8.2) ​ $ 8.5 ​ $ .3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ (114.5) ​ ​ ​ ​ $ (114.5) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 88.3 ​ $ (18.5) ​ 69.8 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ (12.4) ​ 2.6 ​ (9.8) ​ Net unrealized gain (loss) on derivatives ​ 75.9 ​ (15.9) ​ 60.0 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (1.1) ​ ​ .3 ​ ​ (.8) ​ Total other comprehensive income (loss) ​ $ (39.7) ​ $ (15.6) ​ $ (55.3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 15.0 ​ ​ ​ ​ $ 15.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ 7.7 ​ $ (1.6) ​ 6.1 ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 9.4 ​ (2.0) ​ 7.4 ​ Net unrealized gain (loss) on derivatives ​ 17.1 ​ (3.6) ​ 13.5 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 31.9 ​ $ (3.5) ​ $ 28.4 ​ ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Oct. 29, 2023
Fair Value Measurements
Fair Value of Financial Instruments	The fair values of financial instruments that do not approximate the carrying values at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ​ Carrying Fair Carrying Fair ​ ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 43,862.4 ​ $ 43,168.7 ​ $ 36,377.3 ​ $ 35,562.4 ​ Retail notes securitized – net ​ 7,335.4 ​ 7,055.8 ​ 5,935.9 ​ 5,696.3 ​ Securitization borrowings ​ 6,995.2 ​ 6,921.1 ​ 5,710.9 ​ 5,576.6 ​ Current maturities of long-term external borrowings ​ 6,059.9 ​ 5,953.0 ​ 5,989.6 ​ 5,887.7 ​ Long-term external borrowings ​ 27,439.3 ​ 27,057.7 ​ 22,527.8 ​ 21,792.7 ​ ​ 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 October 29, 2023 and October 30, 2022 at fair value on a recurring basis were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 1.4 ​ $ 1.1 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 144.4 ​ ​ 214.8 ​ Other assets ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ 11.3 ​ ​ 1.3 ​ Total assets ​ $ 157.1 ​ $ 217.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ Derivatives ​ $ 974.9 ​ $ 1,024.2 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ Derivatives ​ ​ .5 ​ ​ 14.1 ​ Total liabilities ​ $ 975.4 ​ $ 1,038.3 ​ ​ All fair value measurements in the table above were Level 2. Excluded from the table above were our cash equivalents, which were carried at a cost that approximates fair value. The cash equivalents consist of time deposits and money market funds.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Oct. 29, 2023
Derivative Instruments
Fair Value of Derivative Instruments in Consolidated Balance Sheet and Associated Notional Amounts	The fair value of our derivative instruments and the associated notional amounts were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ October 30, 2022 ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ ​ Notional ​ Asset ​ Liability ​ Notional ​ Asset ​ Liability ​ Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ $ 1,500.0 ​ $ 44.7 ​ ​ ​ ​ $ 1,950.0 ​ $ 87.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ ​ 11,859.4 ​ ​ ​ ​ $ 915.7 ​ ​ 9,448.9 ​ ​ ​ ​ $ 947.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - swaps ​ ​ 8,010.9 ​ ​ 72.2 ​ ​ 27.4 ​ ​ 3,931.3 ​ ​ 75.5 ​ ​ 25.2 ​ Foreign currency exchange contracts ​ ​ 1,546.5 ​ ​ 11.3 ​ ​ .5 ​ ​ 1,069.0 ​ ​ 1.3 ​ ​ 14.1 ​ Cross-currency interest rate contracts ​ ​ 175.8 ​ ​ 3.2 ​ ​ 7.5 ​ ​ 134.2 ​ ​ 2.8 ​ ​ 2.1 ​ Interest rate caps - sold ​ ​ 1,336.0 ​ ​ ​ ​ ​ 24.3 ​ ​ 1,020.3 ​ ​ ​ ​ ​ 49.0 ​ Interest rate caps - purchased ​ ​ 1,336.0 ​ ​ 24.3 ​ ​ ​ ​ ​ 1,020.3 ​ ​ 49.0 ​ ​ ​ ​
Amounts Recorded in the Consolidated Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships	The amounts recorded, at October 29, 2023 and October 30, 2022, in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows. 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 ​ 2023 Hedged Item Hedging Adjustment Hedged Item Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,814.0 ​ $ 14.9 ​ Long-term external borrowings ​ $ 10,883.7 ​ $ (922.6) ​ ​ 7,144.1 ​ ​ (288.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​
Gains (Losses) Related to Derivative Instruments on Statement of Consolidated Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Hedging Relationships Discontinued Hedging Relationships ​ ​ ​ Carrying ​ Cumulative ​ Carrying Amount ​ Cumulative ​ ​ ​ Amount of ​ Fair Value ​ of Formerly ​ Fair Value ​ 2023 Hedged Item Hedging Adjustment Hedged Item Hedging Adjustment ​ Current maturities of long-term external borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,814.0 ​ $ 14.9 ​ Long-term external borrowings ​ $ 10,883.7 ​ $ (922.6) ​ ​ 7,144.1 ​ ​ (288.1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​
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 at October 29, 2023 and October 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 11.3 ​ $ (.1) ​ ​ ​ $ 11.2 ​ John Deere ​ 144.4 ​ (107.0) ​ ​ ​ ​ 37.4 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .5 ​ (.1) ​ ​ ​ ​ .4 ​ John Deere ​ 974.9 ​ (107.0) ​ ​ ​ ​ 867.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts Recognized ​ Netting Arrangements ​ Collateral ​ Net Amount 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 ​ ​

Geographic Area Information (Ta

Geographic Area Information (Tables)	12 Months Ended
	Oct. 29, 2023
Geographic Area Information
Schedule of Geographic Area Information	Geographic area information as of and for the years ended October 29, 2023, October 30, 2022, and October 31, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 3,456.5 ​ $ 2,450.5 ​ $ 2,393.0 ​ Outside the U.S. ​ 519.0 ​ 356.1 ​ 330.7 ​ Total ​ $ 3,975.5 ​ $ 2,806.6 ​ $ 2,723.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 44,260.0 ​ $ 36,555.6 ​ $ 30,713.2 ​ Outside the U.S. ​ 7,084.2 ​ 5,886.0 ​ 5,911.5 ​ Total ​ $ 51,344.2 ​ $ 42,441.6 ​ $ 36,624.7 ​ ​

Unconsolidated Affiliated Com_2

Unconsolidated Affiliated Company (Tables)	12 Months Ended
	Oct. 29, 2023
Unconsolidated Affiliated Company
Unconsolidated Affiliated Company	Summarized financial information of the unconsolidated affiliated company for the relevant fiscal years was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue ​ $ 25.5 ​ $ 17.7 ​ $ 16.6 ​ Net income ​ 7.8 ​ 9.0 ​ 5.9 ​ The Company’s equity in net income ​ 3.9 ​ 4.5 ​ 3.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Financial Position: ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 606.5 ​ $ 496.3 ​ Total external borrowings ​ 541.3 ​ 449.3 ​ Total net assets ​ 55.2 ​ 45.2 ​ The Company’s share of net assets ​ 27.6 ​ 22.6 ​ ​

Immaterial Restatement of Pri_2

Immaterial Restatement of Prior Period Financial Statements (Tables)	12 Months Ended
	Oct. 29, 2023
Immaterial Restatement of Prior Period Financial Statements
Prior Period Impacts to the Company's Financial Statements	The prior period impacts to our statements of consolidated income and the related impacts to our statements of consolidated comprehensive income for the years ended October 30, 2022 and October 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Reported Adjustment Adjusted Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income earned on retail notes $ 1,023.3 ​ $ 41.2 ​ $ 1,064.5 ​ $ 946.6 ​ $ 29.4 ​ $ 976.0 Lease revenues ​ 957.5 ​ ​ 6.2 ​ ​ 963.7 ​ ​ 1,022.0 ​ ​ 6.3 ​ ​ 1,028.3 Total revenues ​ 2,759.2 ​ ​ 47.4 ​ ​ 2,806.6 ​ ​ 2,688.0 ​ ​ 35.7 ​ ​ 2,723.7 Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative and operating expenses ​ 440.1 ​ ​ 61.5 ​ ​ 501.6 ​ ​ 406.0 ​ ​ 65.8 ​ ​ 471.8 Total operating expenses ​ 1,353.4 ​ ​ 61.5 ​ ​ 1,414.9 ​ ​ 1,306.8 ​ ​ 65.8 ​ ​ 1,372.6 Total expenses ​ 1,850.7 ​ ​ 61.5 ​ ​ 1,912.2 ​ ​ 1,779.7 ​ ​ 65.8 ​ ​ 1,845.5 Income of Consolidated Group before Income Taxes ​ 908.5 ​ ​ (14.1) ​ ​ 894.4 ​ ​ 908.3 ​ ​ (30.1) ​ ​ 878.2 Provision for income taxes ​ 209.0 ​ ​ (3.4) ​ ​ 205.6 ​ ​ 200.5 ​ ​ (6.7) ​ ​ 193.8 Income of Consolidated Group ​ 699.5 ​ ​ (10.7) ​ ​ 688.8 ​ ​ 707.8 ​ ​ (23.4) ​ ​ 684.4 Net Income ​ 704.0 ​ ​ (10.7) ​ ​ 693.3 ​ ​ 710.8 ​ ​ (23.4) ​ ​ 687.4 Net Income Attributable to the Company $ 704.3 ​ $ (10.7) ​ $ 693.6 ​ $ 710.6 ​ $ (23.4) ​ $ 687.2 ​ The prior period impacts to our consolidated balance sheet and the related components of stockholder’s equity as of October 30, 2022 were as shown below. In addition, beginning retained earnings for the year ended October 30, 2022 decreased $108.7 from $3,091.0 to $2,982.3, and beginning retained earnings for the year ended October 31, 2021 decreased $85.3 from $2,891.6 to $2,806.3. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted Assets ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ Retail notes $ 22,860.3 ​ $ (61.3) ​ $ 22,799.0 Total receivables 42,502.9 ​ (61.3) ​ 42,441.6 Total receivables – net 42,374.5 ​ (61.3) ​ 42,313.2 Deferred income taxes 23.3 ​ 2.2 ​ 25.5 Total Assets $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholder’s Equity ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses $ 866.1 ​ $ 91.2 ​ $ 957.3 Deferred income taxes 239.4 ​ (30.9) ​ 208.5 Total liabilities 44,123.1 ​ 60.3 ​ 44,183.4 Stockholder’s equity: ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings 3,425.3 ​ (119.4) ​ 3,305.9 Total Company stockholder’s equity 4,803.4 ​ (119.4) ​ 4,684.0 Total stockholder’s equity 4,804.9 ​ (119.4) ​ 4,685.5 Total Liabilities and Stockholder’s Equity $ 48,928.0 ​ $ (59.1) ​ $ 48,868.9 The prior period impacts to our statements of consolidated cash flows for the years ended October 30, 2022 and October 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Previously ​ ​ ​ ​ As ​ Previously ​ ​ ​ ​ As ​ Reported Adjustment Adjusted ​ Reported Adjustment Adjusted Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income $ 704.0 ​ $ (10.7) ​ $ 693.3 ​ $ 710.8 ​ $ (23.4) ​ $ 687.4 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit for deferred income taxes ​ (32.0) ​ ​ (3.3) ​ ​ (35.3) ​ ​ (83.3) ​ ​ (6.4) ​ ​ (89.7) Change in accounts payable and accrued expenses ​ 14.4 ​ ​ (2.4) ​ ​ 12.0 ​ ​ (39.5) ​ ​ 21.6 ​ ​ (17.9) Other ​ (164.2) ​ ​ 16.4 ​ ​ (147.8) ​ ​ 33.3 ​ ​ 8.2 ​ ​ 41.5 Net cash provided by operating activities $ 1,205.9 ​ $ ​ ​ $ 1,205.9 ​ $ 1,365.9 ​ $ ​ ​ $ 1,365.9 ​

Organization and Consolidation

Organization and Consolidation (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Maximum portion of receivables guaranteed by related parties
Maximum portion of receivables guaranteed by related parties (as a percent)	5%
Maximum portion of receivables serviced by related parties
Maximum portion of receivables serviced by related parties (as a percent)	5%
Fiscal Year
Fiscal year duration	364 days	364 days	364 days
Argentine Peso
Argentina
Net Peso Exposure	$ 31.8	$ 45.6
Argentina
Argentina
Net investment	$ 41.1	$ 53.5
Net sales and revenues (as a percent)	2%	3%
Remeasurement losses	$ 27.4	$ 22.1	$ 14

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and New Accounting Standards (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Pretax net gain (loss) for foreign currency exchange	$ (20.4)	$ (25.6)	$ (14.9)
ASU 2021-10
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2021-05
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2021-04
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2022-02
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2022-01
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2021-08
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false

Receivables - Retail Notes (Det

Receivables - Retail Notes (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Receivables, by Product Category
Total receivables	$ 51,344.2	$ 42,441.6	$ 36,624.7
Retail notes | Unrestricted
Receivables, by Product Category
Receivables, Gross	25,647	23,625.1
Unearned finance income	(1,005.9)	(826.1)
Total receivables	24,641.1	22,799
Retail notes | Unrestricted | Agriculture and turf | New
Receivables, by Product Category
Receivables, Gross	14,350.6	12,997.8
Retail notes | Unrestricted | Agriculture and turf | Used
Receivables, by Product Category
Receivables, Gross	7,344.9	6,745.8
Retail notes | Unrestricted | Construction and forestry | New
Receivables, by Product Category
Receivables, Gross	2,884.1	2,776.5
Retail notes | Unrestricted | Construction and forestry | Used
Receivables, by Product Category
Receivables, Gross	1,067.4	1,105
Retail notes | Securitized
Receivables, by Product Category
Receivables, Gross	7,493.7	6,046.3
Unearned finance income	(136.9)	(94.7)
Total receivables	$ 7,356.8	$ 5,951.6
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings
Retail notes | Securitized | Agriculture and turf | New
Receivables, by Product Category
Receivables, Gross	$ 2,664.9	$ 2,100.2
Retail notes | Securitized | Agriculture and turf | Used
Receivables, by Product Category
Receivables, Gross	3,387.4	2,767.4
Retail notes | Securitized | Construction and forestry | New
Receivables, by Product Category
Receivables, Gross	1,010.9	846.7
Retail notes | Securitized | Construction and forestry | Used
Receivables, by Product Category
Receivables, Gross	$ 430.5	$ 332

Receivables - Retail Note Insta

Receivables - Retail Note Installments (Details) - Retail notes - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Unrestricted
Receivable Installments, Due in Months:
Receivables, due in 0 - 12 months	$ 7,718.5	$ 7,139.7
Receivables, due in 13 - 24 months	6,146.8	5,668.8
Receivables, due in 25 - 36 months	5,047	4,677.8
Receivables, due in 37 - 48 months	3,724.5	3,427.2
Receivables, due in 49 - 60 months	2,321.1	2,057.6
Receivables, Over 60 months	689.1	654
Receivables, Gross	25,647	23,625.1
Securitized
Receivable Installments, Due in Months:
Receivables, due in 0 - 12 months	2,820.5	2,225.2
Receivables, due in 13 - 24 months	2,088.5	1,667.4
Receivables, due in 25 - 36 months	1,509	1,208.9
Receivables, due in 37 - 48 months	824.4	709.3
Receivables, due in 49 - 60 months	240.5	226.8
Receivables, Over 60 months	10.8	8.7
Receivables, Gross	$ 7,493.7	$ 6,046.3
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings

Receivables - Excess Withholdin

Receivables - Excess Withholdings (Details) - Retail notes - Agriculture and turf	12 Months Ended
	Oct. 29, 2023
Minimum
Receivables - Other Disclosures
Percentage of balances outstanding used to determine excess withholdings to be remitted to dealers	0.50%
Maximum
Receivables - Other Disclosures
Percentage of balances outstanding used to determine excess withholdings to be remitted to dealers	3%

Receivables - Other (Details)

Receivables - Other (Details) $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($) item	Oct. 30, 2022 USD ($) item	Oct. 31, 2021 USD ($)
Receivables - Other Disclosures
Revenues	$ 3,975.5	$ 2,806.6	$ 2,723.7
Total receivables	51,344.2	42,441.6	36,624.7
U.S.
Receivables - Other Disclosures
Revenues	3,456.5	2,450.5	2,393
Total receivables	$ 44,260	$ 36,555.6	$ 30,713.2
Total Receivables | Geographic Concentration Risk | U.S.
Receivables - Other Disclosures
Concentration of credit risk (as a percent)	86%
Retail notes
Receivables - Other Disclosures
Average effective yield on Retail Notes Receivable (as a percent)	5%	3.90%	4%
Retail notes | Related Party
Receivables - Other Disclosures
Revenues	$ 388.4	$ 328.3	$ 325
Revenue, Related Party, Type [Extensible Enumeration]	John Deere	John Deere	John Deere
Retail notes | Minimum
Receivables - Other Disclosures
Retail notes receivable with fixed finance rate (as a percent)	95%	95%
Revolving charge accounts
Receivables - Other Disclosures
Total receivables	$ 4,594.4	$ 4,165.8	$ 3,740.1
Unearned interest income	88.4	59.2
Revolving charge accounts | Related Party
Receivables - Other Disclosures
Revenues	$ 18.5	$ 13.4	$ 14.3
Revenue, Related Party, Type [Extensible Enumeration]	John Deere	John Deere	John Deere
Wholesale Receivables
Receivables - Other Disclosures
Wholesale note turns | item	5	7
Total receivables	$ 13,330.1	$ 8,404.5	$ 5,951.3
Wholesale Receivables | Related Party
Receivables - Other Disclosures
Revenues	$ 542.6	$ 239	$ 197.9
Revenue, Related Party, Type [Extensible Enumeration]	John Deere	John Deere	John Deere
Wholesale Receivables | Minimum
Receivables - Other Disclosures
Interest-free periods granted at the time of sale to dealer	1 month
Wholesale Receivables | Maximum
Receivables - Other Disclosures
Interest-free periods granted at the time of sale to dealer	12 months

Allowance for Credit Losses a_3

Allowance for Credit Losses and Credit Quality of Receivables - Financing Receivables Past Due (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Receivable, Past Due
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false]	false
Threshold for past due balances	30 days
Non-performing
Receivable, Past Due
Accrued finance income and lease revenue reversed	$ 17.1	$ 11.3	$ 12.4
Finance income and lease revenue recognized on cash payments	$ 18.4	$ 15.4	$ 17.1
Customer Receivables
Receivable, Past Due
Generally the threshold for a financing receivable to be considered non-performing	90 days
Generally the threshold when a receivable is delinquent and the estimated uncollectible amount is written off	120 days
Wholesale Receivables
Receivable, Past Due
Generally the threshold for a financing receivable to be considered non-performing	60 days
Generally the threshold when a receivable is delinquent and the estimated uncollectible amount is written off	60 days

Allowance for Credit Losses a_4

Allowance for Credit Losses and Credit Quality of Receivables - Customer Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Allowance for Credit Losses and Credit Quality of Receivables
Total	$ 51,344.2	$ 42,441.6	$ 36,624.7
Customer Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	15,528	14,269
2022 and 2021, respectively	9,055.7	8,684.6
2021 and 2020, respectively	5,502.6	4,263.6
2020 and 2019, respectively	2,337.9	1,807
2019 and 2018, respectively	768	666.1
Prior years	227.5	181
Revolving charge accounts	4,594.4	4,165.8
Total	38,014.1	34,037.1
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	46.8	40.1
2022 and 2021, respectively	66.6	55.8
2021 and 2020, respectively	34.6	31.4
2020 and 2019, respectively	18.7	15
2019 and 2018, respectively	8.2	6.4
Prior years	2.9	2.7
Revolving charge accounts	28.1	18.4
Total	205.9	169.8
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	15.8	11.8
2022 and 2021, respectively	22	19.5
2021 and 2020, respectively	14.8	10.8
2020 and 2019, respectively	7.8	4.4
2019 and 2018, respectively	3.3	2
Prior years	1.3	1.1
Revolving charge accounts	8.6	4.5
Total	73.6	54.1
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	1.4	0.4
2022 and 2021, respectively	0.8	0.2
2021 and 2020, respectively	2.7	0.2
2020 and 2019, respectively	2.9
2019 and 2018, respectively	0.1
Prior years	0.1
Total	8	0.8
Customer Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	12,998.3	11,736.1
2022 and 2021, respectively	7,208.2	6,939.9
2021 and 2020, respectively	4,459.1	3,479.6
2020 and 2019, respectively	1,970.4	1,515.8
2019 and 2018, respectively	666.3	581.3
Prior years	179.3	152.9
Revolving charge accounts	4,424.8	4,022.7
Total	31,906.4	28,428.3
Customer Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	25.9	24.7
2022 and 2021, respectively	63.7	38.4
2021 and 2020, respectively	44.5	29.2
2020 and 2019, respectively	25	13.7
2019 and 2018, respectively	12.9	11.2
Prior years	12	10.2
Revolving charge accounts	7.2	7.8
Total	191.2	135.2
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	44.4	44.5
2022 and 2021, respectively	28.1	40.6
2021 and 2020, respectively	24.8	20.7
2020 and 2019, respectively	8.6	7.6
2019 and 2018, respectively	3.4	1.8
Prior years	0.4	0.6
Revolving charge accounts	4.1	3.1
Total	113.8	118.9
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	17.8	18.1
2022 and 2021, respectively	11.4	11.4
2021 and 2020, respectively	11.8	6
2020 and 2019, respectively	4.5	3
2019 and 2018, respectively	1	0.7
Prior years	0.2	0.1
Revolving charge accounts	1.8	1
Total	48.5	40.3
Customer Receivables | Construction and forestry | 90 Days or Greater Past Due
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	0.1	0.3
2022 and 2021, respectively	1.2	1.3
2021 and 2020, respectively	0.1
2020 and 2019, respectively	0.1	1.4
Total	1.5	3
Customer Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	2,343.4	2,373.7
2022 and 2021, respectively	1,586.2	1,526.3
2021 and 2020, respectively	859	658.1
2020 and 2019, respectively	279.2	230.7
2019 and 2018, respectively	65.3	57.2
Prior years	27.3	10.5
Revolving charge accounts	118.6	107.7
Total	5,279	4,964.2
Customer Receivables | Construction and forestry | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	34.1	19.3
2022 and 2021, respectively	67.5	51.2
2021 and 2020, respectively	51.2	27.6
2020 and 2019, respectively	20.7	15.4
2019 and 2018, respectively	7.5	5.5
Prior years	4	2.9
Revolving charge accounts	1.2	0.6
Total	$ 186.2	$ 122.5

Allowance for Credit Losses a_5

Allowance for Credit Losses and Credit Quality of Receivables - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Allowance for Credit Losses and Credit Quality of Receivables
Total	$ 51,344.2	$ 42,441.6	$ 36,624.7
Wholesale Receivables
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	628.9	386.1
2022 and 2021, respectively	95.1	91
2021 and 2020, respectively	39.9	26.4
2020 and 2019, respectively	4.1	4.2
2019 and 2018, respectively	0.8	0.4
Prior years	235.1	1.1
Revolving	12,326.2	7,895.3
Total	13,330.1	8,404.5	$ 5,951.3
Wholesale Receivables | Agriculture and turf | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
2022 and 2021, respectively		0.1
Revolving	45.8	8.3
Total	45.8	8.4
Wholesale Receivables | Agriculture and turf | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	609.5	381.3
2022 and 2021, respectively	92.6	62.7
2021 and 2020, respectively	20	25
2020 and 2019, respectively	3.9	3.8
2019 and 2018, respectively	0.7	0.3
Prior years	159.9	1.1
Revolving	9,270.1	6,238.1
Total	10,156.7	6,712.3
Wholesale Receivables | Agriculture and turf | Non-performing
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	5.7	5.5
Total	5.7	5.5
Wholesale Receivables | Construction and forestry | 30+ days past due
Allowance for Credit Losses and Credit Quality of Receivables
Revolving	17	9.6
Total	17	9.6
Wholesale Receivables | Construction and forestry | Current
Allowance for Credit Losses and Credit Quality of Receivables
2023 and 2022, respectively	19.4	4.8
2022 and 2021, respectively	2.5	28.2
2021 and 2020, respectively	19.9	1.4
2020 and 2019, respectively	0.2	0.4
2019 and 2018, respectively	0.1	0.1
Prior years	75.2
Revolving	2,987.6	1,633.8
Total	$ 3,104.9	$ 1,668.7

Allowance for Credit Losses a_6

Allowance for Credit Losses and Credit Quality of Receivables - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Receivable, Allowance for Credit Losses
Percentage of customer receivables transition matrix models used to estimate credit losses (as a percent)	90%
Freestanding credit enhancement recoveries	$ 17	$ 8.5	$ 14.3
Deposits primarily withheld from John Deere dealers and merchants available as credit enhancements	129.6	132.7
Allowance:
Beginning of year balance	128.4	129	129.1
Provision (credit) for credit losses	88.6	24.4	(2.7)
Write-offs	(105.4)	(67.8)	(64.8)
Recoveries	35.3	44.2	47.1
Translation adjustments	(0.5)	(1.4)	0.6
End of year balance	146.4	128.4	129
Receivables:
End of year balance	51,344.2	42,441.6	36,624.7
Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance			19.7
Unfunded Commitments
Allowance:
Provision (credit) for credit losses	(0.1)	(0.9)	1.8
Customer Receivables
Receivables:
End of year balance	38,014.1	34,037.1
Retail Notes & Financing Leases
Allowance:
Beginning of year balance	95.4	96.5	76.9
Provision (credit) for credit losses	67.6	26.1	11.8
Write-offs	(60.8)	(40.7)	(36.7)
Recoveries	12.9	14.4	11.6
Translation adjustments	(0.2)	(0.9)	0.4
End of year balance	114.9	95.4	96.5
Receivables:
End of year balance	33,419.7	29,871.3	26,933.3
Retail Notes & Financing Leases | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance			32.5
Revolving charge accounts
Allowance:
Beginning of year balance	21.9	20.8	42.3
Provision (credit) for credit losses	21.2	(1.8)	(17)
Write-offs	(44.4)	(26.8)	(27.8)
Recoveries	21.8	29.7	35.5
Translation adjustments	(0.1)
End of year balance	20.4	21.9	20.8
Receivables:
End of year balance	4,594.4	4,165.8	3,740.1
Revolving charge accounts | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance			(12.2)
Wholesale Receivables
Allowance:
Beginning of year balance	11.1	11.7	9.9
Provision (credit) for credit losses	(0.2)	0.1	2.5
Write-offs	(0.2)	(0.3)	(0.3)
Recoveries	0.6	0.1
Translation adjustments	(0.2)	(0.5)	0.2
End of year balance	11.1	11.1	11.7
Receivables:
End of year balance	$ 13,330.1	$ 8,404.5	5,951.3
Wholesale Receivables | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of year balance			$ (0.6)

Allowance for Credit Losses a_7

Allowance for Credit Losses and Credit Quality of Receivables - Troubled Debt Restructurings (Details) $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($) item	Oct. 30, 2022 USD ($) item	Oct. 31, 2021 USD ($) item
Financing Receivables - Troubled Debt Restructurings
Number of Receivable contracts | item	149	199	326
Pre-modification balance	$ 7.2	$ 7	$ 12
Post-modification balance	6.7	5.8	10.7
Receivable contracts in troubled debt restructuring, subsequently defaulted	0	$ 0	$ 0
Commitments to lend additional funds to customers whose accounts were modified in troubled debt restructurings	$ 0

Allowance for Credit Losses a_8

Allowance for Credit Losses and Credit Quality of Receivables - Write-offs (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Dollars
Total write-offs	$ (105.4)	$ (67.8)	$ (64.8)
Total recoveries	35.3	44.2	47.1
Total net write-offs	$ (70.1)	$ (23.6)	$ (17.7)
Percent
Total write-offs (as a percent)	(0.23%)	(0.18%)	(0.19%)
Total recoveries (as a percent)	0.08%	0.12%	0.14%
Total net write-offs (as a percent)	(0.15%)	(0.06%)	(0.05%)
Retail Notes & Financing Leases
Dollars
Total write-offs	$ (60.8)	$ (40.7)	$ (36.7)
Total recoveries	$ 12.9	$ 14.4	$ 11.6
Percent
Total write-offs (as a percent)	(0.20%)	(0.15%)	(0.15%)
Total recoveries (as a percent)	0.04%	0.05%	0.05%
Retail Notes & Financing Leases | Agriculture and turf
Dollars
Total write-offs	$ (31.7)	$ (21.4)	$ (18.6)
Total recoveries	$ 8.8	$ 10.2	$ 9.2
Percent
Total write-offs (as a percent)	(0.12%)	(0.09%)	(0.09%)
Total recoveries (as a percent)	0.03%	0.05%	0.05%
Retail Notes & Financing Leases | Construction and forestry
Dollars
Total write-offs	$ (29.1)	$ (19.3)	$ (18.1)
Total recoveries	$ 4.1	$ 4.2	$ 2.4
Percent
Total write-offs (as a percent)	(0.55%)	(0.39%)	(0.42%)
Total recoveries (as a percent)	0.08%	0.09%	0.06%
Revolving charge accounts
Dollars
Total write-offs	$ (44.4)	$ (26.8)	$ (27.8)
Total recoveries	$ 21.8	$ 29.7	$ 35.5
Percent
Total write-offs (as a percent)	(1.17%)	(0.77%)	(0.85%)
Total recoveries (as a percent)	0.58%	0.86%	1.08%
Wholesale Receivables
Dollars
Total write-offs	$ (0.2)	$ (0.3)	$ (0.3)
Total recoveries	$ 0.6	$ 0.1
Percent
Total recoveries (as a percent)	0.01%

Securitization of Receivables_2

Securitization of Receivables (Details) - USD ($) $ in Millions	Nov. 26, 2023	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Securitization of Receivables
Total receivables		$ 51,344.2	$ 42,441.6	$ 36,624.7
Other assets		367.5	314.3
Securitization borrowings		6,995.2	5,710.9
Accrued interest on borrowings - securitization transactions		12.6	6.1
Total liabilities related to restricted securitized assets		$ 7,007.8	$ 5,717
Weighted-average interest rates on short-term securitization borrowings (as a percent)		4.70%	2.80%
Short-term Securitization Borrowings
Payment Schedule for Securitization Borrowings Based on Expected Liquidation of Retail Notes
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2024		$ 3,278.1
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2025		2,075.5
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2026		1,187.2
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2027		416.9
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2028		44.1
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, Later years		4.6
Securitized
Securitization of Receivables
Other assets		152	$ 155.2
Total Assets		7,487.4	6,091.1
Retail notes | Securitized
Securitization of Receivables
Total receivables		$ 7,356.8	$ 5,951.6
Location of liability for pledged asset		Securitization borrowings	Securitization borrowings
Allowance for credit losses		$ (21.4)	$ (15.7)
Bank Conduit Facilities Revolving Credit Agreement
Securitization of Receivables
Revolving credit agreement capacity		1,500
Revolving credit agreement securitization borrowings outstanding		$ 1,281.4
Bank Conduit Facilities Revolving Credit Agreement | Subsequent Event
Securitization of Receivables
Revolving credit agreement capacity	$ 2,000

Leases - Lessor Lease Terms (De

Leases - Lessor Lease Terms (Details)	12 Months Ended
	Oct. 29, 2023
Lessor
Sales-type lease early termination options	true
Sales-type lease renewal options	true
Sales-type lease option to purchase the underlying equipment	true
Direct financing lease early termination options	true
Direct financing lease renewal options	true
Direct financing lease option to purchase the underlying equipment	true
Operating lease early termination options	true
Operating lease renewal options	true
Operating lease option to purchase the underlying equipment	true
Elected to combine lease and nonlease components	true
Elected to report consideration related to sales and value added taxes net of the related tax expense	true

Leases - Lease Revenues (Detail

Leases - Lease Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Lessor
Sales-type and direct finance lease revenues	$ 90.7	$ 56.6	$ 48.6
Operating lease revenues	894.2	886.1	959.3
Variable lease revenues	14.2	23.4	26.9
Total lease revenues	999.1	966.1	1,034.8
Excess use and damage fees	1.8	2.4	6.5
Receivables - Other Disclosures
Revenues	3,975.5	2,806.6	2,723.7
Related Party | Operating Leases
Receivables - Other Disclosures
Revenues	$ 24.5	$ 30	$ 47.1
Revenue, Related Party, Type [Extensible Enumeration]	John Deere	John Deere	John Deere
Related Party | Financing Leases
Receivables - Other Disclosures
Revenues	$ 6.9	$ 3.9	$ 3.7
Revenue, Related Party, Type [Extensible Enumeration]	John Deere	John Deere	John Deere

Leases - Sales-type and Direct

Leases - Sales-type and Direct Financing Lease Receivables (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Lessor
Total sales-type and direct financing lease receivables	$ 887.8	$ 753.9
Guaranteed residual values	701.9	466.5
Unguaranteed residual values	27.2	25.9
Unearned finance income	(195.1)	(125.6)
Financing lease receivables	1,421.8	1,120.7
Agriculture and turf equipment
Lessor
Total sales-type and direct financing lease receivables	664.4	570.2
Construction and forestry
Lessor
Total sales-type and direct financing lease receivables	$ 223.4	$ 183.7

Leases - Scheduled Payments on

Leases - Scheduled Payments on Sales-type and Direct Financings Leases Receivables, Current Year (Details) $ in Millions	Oct. 29, 2023 USD ($)
Payments on Sales-type and Direct Financing Leases Receivables
2024	$ 955.8
2025	306.9
2026	168.1
2027	98.1
2028	49.9
Later years	10.9
Total	$ 1,589.7

Leases - Cost of Equipment on O

Leases - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 6,307.6	$ 6,155.3
Accumulated depreciation	(1,256.1)	(1,301.8)
Equipment on operating leases - net	5,051.5	4,853.5
Impairment losses on operating leases	0	0
Operating lease residual value	3,538.3	3,366.7
Operating lease residual value guarantees	566.9	440.7
Matured operating lease inventory	16.2	10.8
Agriculture and turf equipment
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	5,265.2	5,017.3
Construction and forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 1,042.4	$ 1,138

Leases - Lease payments for equ

Leases - Lease payments for equipment on operating leases (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Lease Payments for Equipment on Operating Leases
2024	$ 749.5
2025	561.3
2026	321.4
2027	157.9
2028	38.9
Later years	7.8
Total	$ 1,836.8
Minimum payment default period	30 days
Past due balances of operating leases	$ 51.8	$ 58.7

Notes Receivable from and Pay_3

Notes Receivable from and Payable to John Deere (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Notes Receivable from and Payable to John Deere
Interest expense	$ 1,671.5	$ 497.3	$ 472.9
Related Party
Notes Receivable from and Payable to John Deere
Interest earned	$ 37.6	$ 16.9	$ 15.4
Interest Income, Operating, Related Party, Type [Extensible Enumeration]	John Deere	John Deere	John Deere
Notes payable to John Deere	$ 3,184	$ 5,225.5
Long-term intercompany loans	528.1
Interest expense	$ 199.9	$ 86.8	$ 53
Interest Expense, Related Party, Name [Extensible Enumeration]	John Deere	John Deere	John Deere
Related Party | John Deere
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	$ 650.7	$ 370.7
Maximum remaining term for related party notes receivable	7 years
Average Interest Rates (as a percent)	5.20%	3.30%
Related Party | Banco John Deere S.A.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere	$ 650.7	$ 370
Related Party | John Deere Agricultural Holdings, Inc.
Notes Receivable from and Payable to John Deere
Notes receivable from John Deere		$ 0.7

Short-Term External Borrowing_2

Short-Term External Borrowings (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Short-Term Borrowings
Commercial paper and other notes payable	$ 6,836.1	$ 2,402.3
Securitization borrowings	6,995.2	5,710.9
Current maturities of long-term external borrowings	6,059.9	5,989.6
Total short-term external borrowings	$ 19,891.2	$ 14,102.8
Commercial Paper and Other Notes Payable
Short-Term Borrowings
Weighted-average interest rate on total short-term borrowings, excluding current maturities of long-term borrowings (as a percent)	5.60%	3.40%
Short-term Securitization Borrowings
Short-Term Borrowings
Weighted-average interest rate on total short-term borrowings, excluding current maturities of long-term borrowings (as a percent)	4.70%	2.80%

Short-Term External Borrowing_3

Short-Term External Borrowings - Other (Details) $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($)	Oct. 30, 2022 USD ($)
Line of Credit Facility
Worldwide lines of credit available	$ 10,215.7
Lines of credit unused	$ 841.2
Consolidated ratio of earnings to fixed charges required by the credit agreements, minimum for any four consecutive fiscal quarterly periods	1.05
Ratio of senior debt, excluding securitization indebtedness, to capital base (total subordinated debt and stockholder's equity excluding accumulated other comprehensive income (loss)) required by the credit agreements, maximum at the end of any fiscal quarter	11
Agreement with Deere & Company
Consolidated tangible net worth of Capital Corporation	$ 5,901.6	$ 4,684
Related Party | John Deere
Agreement with Deere & Company
Minimum ownership percentage by Deere & Company in Capital Corporation capital stock	51%
Minimum consolidated tangible net worth of Capital Corporation to be maintained by Deere & Company	$ 50
Minimum ratio of earnings to fixed charges of Capital Corporation to be maintained by Deere & Company	1.05
Ownership percentage by Deere & Company in Capital Corporation capital stock	100%
364-Day Credit Facilities, Expiring Second Quarter of 2024
Line of Credit Facility
Worldwide lines of credit available	$ 5,000
Line of Credit Facilities, Expiring Second Quarter of 2027
Line of Credit Facility
Worldwide lines of credit available	2,500
Line of Credit Facilities Expiring, Second Quarter of 2028
Line of Credit Facility
Worldwide lines of credit available	$ 2,500

Long-Term External Borrowings_2

Long-Term External Borrowings (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Long-Term Borrowings
Total senior debt	$ 27,522.8	$ 22,597.9
Unamortized debt discount and debt issuance costs	(83.5)	(70.1)
Total	27,439.3	22,527.8
Principal Amounts of Long-Term Borrowings Maturing in Each of Next Five Years
2024	6,047.8
2025	7,214.7
2026	6,933.7
2027	2,900
2028	4,635.1
Medium-term notes
Long-Term Borrowings
Total senior debt	27,522.8	22,595.4
Medium-term notes Principal	$ 28,733.5	$ 23,564.6
Average Interest Rates (as a percent)	4.90%	2.90%
Other notes
Long-Term Borrowings
Total senior debt		$ 2.5

Capital Stock (Details)

Capital Stock (Details) - $ / shares	Oct. 29, 2023	Oct. 30, 2022
Capital Stock
Number of shares of preferred stock authorized, but not issued	10,000	10,000
Par value of preferred stock (in dollars per share)	$ 1	$ 1

Capital Investments and Divid_3

Capital Investments and Dividends (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Capital investments	$ 810
Dividends	165	$ 370	$ 485
Related Party | John Deere Financial Services, Inc.
Capital investments	810
Dividends	$ 165	$ 370	$ 485

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits - Defined Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Pensions
Defined Benefit Plan Disclosure
Expense (benefit) related to defined benefit plans	$ (4.8)
Health Care and Life Insurance
Defined Benefit Plan Disclosure
Expense (benefit) related to defined benefit plans	$ 6.2	$ 6	$ 6.1

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Pension and Other Postretirement Benefits
Defined contribution plans employer contributions and costs (primarily in the U.S.)	$ 14.4	$ 13.8	$ 11.8

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Share-Based Compensation
Share-based compensation expense	$ 8.6	$ 6.4	$ 6.3
Income tax benefit	$ 2	$ 1.5	$ 1.5

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Current:
U.S. - Federal	$ (98.6)	$ 200.8	$ 231.1
U.S. - State	(33.7)	10.8	15.2
Foreign	41	29.3	37.2
Total current	(91.3)	240.9	283.5
Deferred:
U.S. - Federal	230.6	(48.9)	(75.4)
U.S. - State	29.1	3.2	1.9
Foreign	(2.5)	10.4	(16.2)
Total deferred	257.2	(35.3)	(89.7)
Provision for income taxes	$ 165.9	$ 205.6	$ 193.8

Income Taxes - Tax Sharing Agre

Income Taxes - Tax Sharing Agreement (Details) - Related Party - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Tax Sharing Agreement
Tax sharing receivables	$ 144.4	$ 214.8
Tax sharing payables	(974.9)	(1,024.2)
Tax Sharing Agreement
Tax Sharing Agreement
Tax sharing receivables	$ 43.8	$ 6.3
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	John Deere	John Deere
Tax sharing payables	$ (7.5)	$ (9.3)

Income Taxes - Statutory and Ef

Income Taxes - Statutory and Effective Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Comparison of the Statutory and Effective Income Tax Provision
Federal corporate statutory tax rate (as a percent)	21%	21%	21%
U.S. federal income tax provision at a statutory rate (21 percent)	$ 154.1	$ 187.8	$ 184.4
Increase (decrease) resulting from:
Tax rates on foreign earnings	1.4	6	5.5
State and local income taxes, net of federal income tax benefit	0.4	11.3	13.7
Other - net	10	0.5	(9.8)
Provision for income taxes	165.9	$ 205.6	$ 193.8
Accumulated earnings of certain subsidiaries outside the U.S. for which no provision for U.S. income or foreign withholding taxes has been made	87
Provision for foreign withholding taxes for earnings expected to remain indefinitely reinvested outside the U.S.	$ 0

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Deferred Tax Assets
Lease transactions	$ 1.2	$ 0.1
Accrual for retirement and other benefits	3.8	5.3
Accrual for other employee benefits	19.6	14.3
Allowance for credit losses	39.8	32.6
Tax loss and tax credit carryforwards	27.6	11.6
Federal taxes on deferred state tax deductions	4.9	7.8
Miscellaneous accruals and other	61.1	46.8
Less valuation allowances	(10.2)	(8.3)
Deferred income tax assets	147.8	110.2
Deferred Tax Liabilities
Lease transactions	562.6	262.6
Net unrealized gain on derivatives/investments	8.8	26.5
Miscellaneous accruals and other	8.1	4.1
Deferred income tax liabilities	$ 579.5	$ 293.2

Income Taxes - Additional Defer

Income Taxes - Additional Deferred Income Tax Information (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Additional Deferred Income Tax Information
Tax loss and tax credit carryforwards	$ 27.6	$ 11.6
Tax loss and tax credit carryforwards, expiring from 2029 through 2043	26.3
Tax loss and tax credit carryforwards with an indefinite carryforward period	$ 1.3

Income Taxes - Uncertain Tax Po

Income Taxes - Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Reconciliation of the Total Amounts of Unrecognized Tax Benefits
Beginning of year balance	$ 36.5	$ 34.9	$ 33.3
Increases to tax positions taken during the current year	15	9.3	11.2
Increases to tax positions taken during prior years	3.2	1.2	1.4
Decreases to tax positions taken during prior years	(6.9)	(6.1)	(5.8)
Decreases due to lapse of statute of limitations	(2.6)	(2.7)	(3.7)
Settlements	(0.8)	(0.1)	(1.5)
End of year balance	44.4	36.5	$ 34.9
Unrecognized tax benefits impacting effective tax rate if recognized	26.8	25.2
Accrued interest and penalties on income tax	$ 12.3	$ 12.8

Other Income and Administrati_3

Other Income and Administrative and Operating Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Other income
External interest income	$ 63.1	$ 8.6	$ 2.9
Operating lease disposition gains - net	31	66.9	65
Freestanding credit enhancement recoveries	17	8.5	14.3
Total	176.3	135.7	121.5
Administrative and operating expenses
Compensation and benefits	273.8	252.9	249
Computer processing and software	58.3	55.8	52
Property taxes on leased assets	23.3	33	29
Foreign currency exchange losses - net	20.4	25.6	14.9
Dealer financing incentives	129.9	77.3	81.9
Other	63.7	57	45
Total	569.4	501.6	471.8
Related Party
Other income
Other	47	28.5	25.6
Nonrelated Party
Other income
Other	$ 18.2	$ 23.2	$ 13.7

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Cash paid for interest	$ 1,726.6	$ 606.8	$ 562.4
Cash paid (received) for income taxes	(43.2)	$ 280.9	$ 306.8
Short-term Securitization Borrowings
Issuance of securitization borrowings	4,479.6
Retirement of securitization borrowings	$ 3,194.5

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) - John Deere Financial Inc. - Guarantees of debt and derivatives $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($)
Medium-term notes.
Guarantee Obligations
Guarantee obligations maximum exposure	$ 2,855.8
Weighted average interest rate (as a percent)	2.90%
Maximum remaining maturity	6 years
Commercial paper
Guarantee Obligations
Guarantee obligations maximum exposure	$ 2,418
Derivative Instruments
Guarantee Obligations
Guarantee obligations maximum exposure	3,581.2
Notional amount	$ 125.8

Commitments and Contingencies_2

Commitments and Contingencies - Commitments (Details) $ in Millions	Oct. 29, 2023 USD ($)
Unfunded Commitments
Commitments
Reserve for credit losses on unfunded commitments	$ 2
Wholesale Receivables
Commitments
Unused commitments	8,000
Customer Receivables
Commitments
Unused commitments	$ 31,700

Other Comprehensive Income It_3

Other Comprehensive Income Items - After-Tax Components (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 5,901.6	$ 4,684
Accumulated Other Comprehensive Income (Loss)
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(104.4)	(104.7)	$ (49.4)
Cumulative Translation Adjustment
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(136.8)	(169)	(54.5)
Unrealized Gain (Loss) on Derivatives
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	34.8	66.8	6.8
Unrealized Gain (Loss) on Debt Securities
After-tax components of accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (2.4)	$ (2.5)	$ (1.7)

Other Comprehensive Income It_4

Other Comprehensive Income Items - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Other comprehensive income (loss), before tax
Interest expense	$ (1,671.5)	$ (497.3)	$ (472.9)
Total other comprehensive income (loss), before tax	(8.2)	(39.7)	31.9
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	8.5	(15.6)	(3.5)
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	0.3	(55.3)	28.4
Cumulative Translation Adjustment
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	32.2	(114.5)	15
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	32.2	(114.5)	15
Unrealized Gain (Loss) on Derivatives
Other comprehensive income (loss), before tax
Other comprehensive income (loss) before reclassification, before tax	25.4	88.3	7.7
Total other comprehensive income (loss), before tax	(40.5)	75.9	17.1
Other comprehensive income (loss), tax (expense) credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(5.3)	(18.5)	(1.6)
Total other comprehensive income (loss), tax (expense) credit	8.5	(15.9)	(3.6)
Other comprehensive income (loss), after tax
Other comprehensive income (loss) before reclassification, after tax	20.1	69.8	6.1
Other comprehensive income (loss), net of income taxes	(32)	60	13.5
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	(65.9)	(12.4)	9.4
Other comprehensive income (loss), tax (expense) credit
Reclassification of realized (gain) loss, tax expense (credit)	13.8	2.6	(2)
Other comprehensive income (loss), after tax
Reclassification of realized (gain) loss, after tax	(52.1)	(9.8)	7.4
Unrealized Gain (Loss) on Debt Securities
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	0.1	(1.1)	(0.2)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit		0.3	0.1
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	$ 0.1	$ (0.8)	$ (0.1)

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Fair Values of Financial Instruments
Receivables financed - net	$ 51,197.8	$ 42,313.2
Securitization borrowings	6,995.2	5,710.9
Current maturities of long-term external borrowings	6,059.9	5,989.6
Long-term external borrowings	27,439.3	22,527.8
Level 3 | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	43,168.7	35,562.4
Level 3 | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 7,055.8	$ 5,696.3
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings
Level 2
Fair Values of Financial Instruments
Securitization borrowings	$ 6,921.1	$ 5,576.6
Current maturities of long-term external borrowings	5,953	5,887.7
Long-term external borrowings	27,057.7	21,792.7
Carrying Value
Fair Values of Financial Instruments
Securitization borrowings	6,995.2	5,710.9
Current maturities of long-term external borrowings	6,059.9	5,989.6
Long-term external borrowings	27,439.3	22,527.8
Carrying Value | Unrestricted
Fair Values of Financial Instruments
Receivables financed - net	43,862.4	36,377.3
Carrying Value | Securitized
Fair Values of Financial Instruments
Receivables financed - net	$ 7,335.4	$ 5,935.9
Location of liability for pledged asset	Securitization borrowings	Securitization borrowings

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities - Recurring (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 1.4	$ 1.1
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	157.1	217.2
Total liabilities	975.4	1,038.3
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Marketable Securities
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 1.4	$ 1.1
Investment, Type [Extensible Enumeration]	jdcc:ForeignDebtSecuritiesMember	jdcc:ForeignDebtSecuritiesMember
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	$ 144.4	$ 214.8
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	11.3	1.3
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	974.9	1,024.2
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	$ 0.5	$ 14.1

Fair Value Measurements - Contr

Fair Value Measurements - Contractual Maturities of Debt Securities (Details) $ in Millions	Oct. 29, 2023 USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost basis	$ 5.1
Contractual Maturities of Debt Securities, Fair Value
Fair value	$ 1.4

Derivative Instruments - Fair V

Derivative Instruments - Fair Value and Notional Amounts (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
Designated as Hedging Instruments | Cash flow hedges | Interest Rate Contracts (Swaps)
Fair Value of Derivative Instruments
Notional amounts	$ 1,500	$ 1,950
Derivative assets	44.7	87.5
Designated as Hedging Instruments | Fair Value Hedges | Interest Rate Contracts (Swaps)
Fair Value of Derivative Instruments
Notional amounts	11,859.4	9,448.9
Derivative liabilities	915.7	947.9
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps)
Fair Value of Derivative Instruments
Notional amounts	8,010.9	3,931.3
Derivative assets	72.2	75.5
Derivative liabilities	27.4	25.2
Not Designated as Hedging Instruments | Foreign currency exchange contracts
Fair Value of Derivative Instruments
Notional amounts	1,546.5	1,069
Derivative assets	11.3	1.3
Derivative liabilities	0.5	14.1
Not Designated as Hedging Instruments | Cross-currency interest rate contracts
Fair Value of Derivative Instruments
Notional amounts	175.8	134.2
Derivative assets	3.2	2.8
Derivative liabilities	7.5	2.1
Not Designated as Hedging Instruments | Interest rate caps | Sold
Fair Value of Derivative Instruments
Notional amounts	1,336	1,020.3
Derivative liabilities	24.3	49
Not Designated as Hedging Instruments | Interest rate caps | Purchased
Fair Value of Derivative Instruments
Notional amounts	1,336	1,020.3
Derivative assets	$ 24.3	$ 49

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges (Details) $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($)
Cash Flow Hedges
Cash flow hedge gain (loss) recorded in OCI to be reclassified within twelve months	$ 33.3
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	Oct. 29, 2023	Oct. 30, 2022
Active Hedging Relationships
Carrying Amount of Hedged Item	$ 10,883.7	$ 8,453.6
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
Current Maturities of Long-term External Borrowings
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	$ 1,814	$ 2,514.9
Cumulative Fair Value Hedging Adjustment - Discontinued	14.9	15.5
Long-term External Borrowings
Active Hedging Relationships
Cumulative Fair Value Hedging Adjustment	(922.6)	(950.1)
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	7,144.1	5,519.6
Cumulative Fair Value Hedging Adjustment - Discontinued	$ (288.1)	$ (19.1)

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 46.4	$ 231.7	$ (21.4)
Related Party | John Deere
Classification and gains (losses) including accrued interest expense related to derivative instruments
Gain (loss) on derivative transactions with affiliate party	$ (437.1)	$ 1,021.7	$ 224.3
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 Rate Contracts (Swaps)
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	$ 25.4	$ 88.3	$ 7.7
Interest Rate Contracts (Swaps) | Interest expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	(518.7)	(1,102)	(208.9)
Cash flow hedges, reclassified from OCI	65.9	12.4	(9.4)
Not designated as hedges, gains (losses)	27.3	62.4	5.2
Foreign currency exchange contracts | Administrative and operating expenses
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 19.1	$ 169.3	$ (26.6)

Derivative Instruments - Counte

Derivative Instruments - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Oct. 29, 2023	Oct. 30, 2022
External
Derivative assets
Gross Amounts Recognized	$ 11.3	$ 1.3
Netting Arrangements	(0.1)	(1.1)
Net Amount	11.2	0.2
Derivative liabilities
Gross Amounts Recognized	0.5	14.1
Netting Arrangements	(0.1)	(1.1)
Net Amount	0.4	13
John Deere | Related Party
Derivative assets
Gross Amounts Recognized	144.4	214.8
Netting Arrangements	(107)	(128.3)
Net Amount	37.4	86.5
Derivative liabilities
Gross Amounts Recognized	974.9	1,024.2
Netting Arrangements	(107)	(128.3)
Net Amount	867.9	895.9
Derivative Instruments | John Deere | Related Party
Counterparty Risk and Collateral
Increase in maximum loss if derivative counterparties fail to meet obligations - loss sharing agreement	$ 0	$ 0

Geographic Area Information (De

Geographic Area Information (Details) $ in Millions	12 Months Ended
	Oct. 29, 2023 USD ($) item	Oct. 30, 2022 USD ($)	Oct. 31, 2021 USD ($)
Geographic Area Information
Number of operating segments | item	1
Revenues	$ 3,975.5	$ 2,806.6	$ 2,723.7
Receivables	51,344.2	42,441.6	36,624.7
U.S.
Geographic Area Information
Revenues	3,456.5	2,450.5	2,393
Receivables	44,260	36,555.6	30,713.2
Outside the U.S.
Geographic Area Information
Revenues	519	356.1	330.7
Receivables	$ 7,084.2	$ 5,886	$ 5,911.5

Unconsolidated Affiliated Com_3

Unconsolidated Affiliated Company (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Operations:
Total revenue	$ 3,975.5	$ 2,806.6	$ 2,723.7
Net Income	571.8	693.3	687.4
The Company's equity in net income	3.9	4.5	3
Financial Position:
Total assets	59,115	48,868.9
Total net assets	5,902.6	4,685.5	4,417.5	$ 4,212.9
The Company's share of net assets	27.6	22.6
Unconsolidated Affiliated Companies
Operations:
Total revenue	25.5	17.7	16.6
Net Income	7.8	9	$ 5.9
Financial Position:
Total assets	606.5	496.3
Total external borrowings	541.3	449.3
Total net assets	$ 55.2	$ 45.2
John Deere Financial S.A.S
Ownership percentage in equity method investee	50%

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		12 Months Ended
	Jan. 30, 2023	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Revenues
Finance income earned on retail notes		$ 1,494.7	$ 1,064.5	$ 976
Lease revenues		997.3	963.7	1,028.3
Total revenues		3,975.5	2,806.6	2,723.7
Expenses
Administrative and operating expenses		569.4	501.6	471.8
Total operating expenses		1,570.2	1,414.9	1,372.6
Total expenses		3,241.7	1,912.2	1,845.5
Income of Consolidated Group before Income Taxes		733.8	894.4	878.2
Provision for income taxes		165.9	205.6	193.8
Income of Consolidated Group		567.9	688.8	684.4
Net Income		571.8	693.3	687.4
Net Income Attributable to the Company		$ 572.3	693.6	687.2
Previously Reported
Revenues
Finance income earned on retail notes			1,023.3	946.6
Lease revenues			957.5	1,022
Total revenues			2,759.2	2,688
Expenses
Administrative and operating expenses			440.1	406
Total operating expenses			1,353.4	1,306.8
Total expenses			1,850.7	1,779.7
Income of Consolidated Group before Income Taxes			908.5	908.3
Provision for income taxes			209	200.5
Income of Consolidated Group			699.5	707.8
Net Income			704	710.8
Net Income Attributable to the Company			704.3	710.6
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			41.2	29.4
Lease revenues			6.2	6.3
Total revenues			47.4	35.7
Expenses
Administrative and operating expenses			61.5	65.8
Total operating expenses			61.5	65.8
Total expenses			61.5	65.8
Income of Consolidated Group before Income Taxes			(14.1)	(30.1)
Provision for income taxes			(3.4)	(6.7)
Income of Consolidated Group			(10.7)	(23.4)
Net Income			(10.7)	(23.4)
Net Income Attributable to the Company			$ (10.7)	$ (23.4)

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	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Receivables:
Total receivables	$ 51,344.2	$ 42,441.6	$ 36,624.7
Total receivables - net	51,197.8	42,313.2
Deferred income taxes	24.6	25.5
Total assets	59,115	48,868.9
Liabilities and Stockholder's Equity
Deferred income taxes	456.3	208.5
Total liabilities	53,212.4	44,183.4
Stockholder's equity:
Retained earnings	3,713.2	3,305.9	2,982.3	$ 2,806.3
Total Company stockholder's equity	5,901.6	4,684
Total stockholder's equity	5,902.6	4,685.5	4,417.5	4,212.9
Total Liabilities and Stockholder's Equity	59,115	48,868.9
Retail notes | Unrestricted
Receivables:
Total receivables	24,641.1	22,799
Nonrelated Party
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses	$ 1,128.3	957.3
Previously Reported
Receivables:
Total receivables		42,502.9
Total receivables - net		42,374.5
Deferred income taxes		23.3
Total assets		48,928
Liabilities and Stockholder's Equity
Deferred income taxes		239.4
Total liabilities		44,123.1
Stockholder's equity:
Retained earnings		3,425.3	3,091	2,891.6
Total Company stockholder's equity		4,803.4
Total stockholder's equity		4,804.9
Total Liabilities and Stockholder's Equity		48,928
Previously Reported | Retail notes | Unrestricted
Receivables:
Total receivables		22,860.3
Previously Reported | Nonrelated Party
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses		866.1
Adjustment
Receivables:
Total receivables		(61.3)
Total receivables - net		(61.3)
Deferred income taxes		2.2
Total assets		(59.1)
Liabilities and Stockholder's Equity
Deferred income taxes		(30.9)
Total liabilities		60.3
Stockholder's equity:
Retained earnings		(119.4)	$ (108.7)	$ 85.3
Total Company stockholder's equity		(119.4)
Total stockholder's equity		(119.4)
Total Liabilities and Stockholder's Equity		(59.1)
Adjustment | Retail notes | Unrestricted
Receivables:
Total receivables		(61.3)
Adjustment | Nonrelated Party
Liabilities and Stockholder's Equity
Accounts payable and accrued expenses		$ 91.2

Immaterial Restatement of Pri_5

Immaterial Restatement of Prior Period Financial Statements - Consolidated Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Cash Flows from Operating Activities:
Net Income	$ 571.8	$ 693.3	$ 687.4
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for deferred income taxes	257.2	(35.3)	(89.7)
Change in accounts payable and accrued expenses	191.8	12	(17.9)
Other	(211.7)	(147.8)	41.5
Net cash provided by operating activities	$ 1,536.2	1,205.9	1,365.9
Previously Reported
Cash Flows from Operating Activities:
Net Income		704	710.8
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for deferred income taxes		(32)	(83.3)
Change in accounts payable and accrued expenses		14.4	(39.5)
Other		(164.2)	33.3
Net cash provided by operating activities		1,205.9	1,365.9
Adjustment
Cash Flows from Operating Activities:
Net Income		(10.7)	(23.4)
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for deferred income taxes		(3.3)	(6.4)
Change in accounts payable and accrued expenses		(2.4)	21.6
Other		$ 16.4	$ 8.2

Subsequent Events - Dividends (

Subsequent Events - Dividends (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 07, 2023	Oct. 29, 2023	Oct. 30, 2022	Oct. 31, 2021
Subsequent Events
Dividends		$ 165	$ 370	$ 485
Subsequent Event
Subsequent Events
Dividend from JDFS paid to Deere & Co.	$ 215
Subsequent Event | John Deere Financial Services, Inc.
Subsequent Events
Dividends	$ 215