Receivables (Tables) - Retail notes

12 Months Ended

Nov. 01, 2020

Receivables

Schedule of Receivables by Product Category

Retail notes receivable by product category at November 1, 2020 and November 3, 2019 were as follows (in millions of dollars):

	2020				2019
	Unrestricted		Securitized		Unrestricted		Securitized
Agriculture and turf – new	$	10,154.9	$	1,812.1	$	8,959.8	$	1,612.7
Agriculture and turf – used		4,385.1		2,321.6		4,033.2		2,186.0
Construction and forestry – new		2,568.8		535.7		2,255.3		561.9
Construction and forestry – used		692.1		117.3		519.6		89.8
Total		17,800.9		4,786.7		15,767.9		4,450.4
Unearned finance income		(642.9)		(97.5)		(617.4)		(100.8)
Retail notes receivable	$	17,158.0	$	4,689.2	$	15,150.5	$	4,349.6

Schedule of Receivable Installments

Gross retail note installments at November 1, 2020 and November 3, 2019 were scheduled to be received as follows (in millions of dollars):

	2020				2019
	Unrestricted		Securitized		Unrestricted		Securitized
Due in:
0-12 months	$	5,466.8	$	1,950.2	$	5,346.7	$	2,041.4
13-24 months		4,397.4		1,347.8		3,856.9		1,200.5
25-36 months		3,501.9		888.3		3,031.4		770.7
37-48 months		2,502.6		460.0		2,076.1		368.6
49-60 months		1,462.1		129.2		1,150.0		66.9
Over 60 months		470.1		11.2		306.8		2.3
Total	$	17,800.9	$	4,786.7	$	15,767.9	$	4,450.4

Schedule of Guidelines Relating to Down Payment Requirements and Contract Terms

Company guidelines relating to down payment requirements and contract terms on retail notes are generally as follows:

	Down	Contract
	Payment	Terms
Agriculture (new and used):
Seasonal payments	20%	3 - 7 years
Monthly payments	10%	36 - 84 months
Turf (new and used):
Seasonal payments	10%	3 - 7 years
Monthly payments	0%	36 - 84 months
Construction and forestry:
New	10%	24 - 60 months
Used	15%	36 - 60 months