Other Income and Administrative and Operating Expenses (Tables)

12 Months Ended

Oct. 31, 2021

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 (in millions of dollars):

	2021		2020		2019
Other income
Fees from John Deere	$	25.6	$	25.5	$	30.7
Interest income		2.9		13.8		33.1
Operating lease residual gains - net		65.0
Freestanding credit enhancement recoveries *		14.3
Other		13.7		19.2		15.8
Total	$	121.5	$	58.5	$	79.6
Administrative and operating expenses
Compensation and benefits	$	249.0	$	251.0	$	260.5
Operating lease residual losses - net and impairments				53.6		159.5
Computer processing and software		52.0		47.2		50.6
Property taxes on leased assets		29.0		30.0		21.1
Other		76.0		88.8		41.3
Total	$	406.0	$	470.6	$	533.0

*            As a result of the adoption of ASU No. 2016-13 in 2021, recoveries from freestanding credit enhancements are recognized in other income. Prior to the adoption of ASU No. 2016-13, recoveries from freestanding credit enhancements were recorded in the provision for credit losses (see Note 3).