XML 40 R28.htm IDEA: XBRL DOCUMENT v3.24.0.1
Fair Value Measurements (Tables)
3 Months Ended
Jan. 28, 2024
Fair Value Measurements  
Fair Values of Financial Instruments

The fair values of financial instruments that do not approximate the carrying values were as follows:

January 28, 2024

October 29, 2023

January 29, 2023

Carrying

Fair

Carrying

Fair

Carrying

Fair

Value

Value

Value

Value

Value

Value

Receivables financed – net

$

44,313.9

$

43,978.1

$

43,862.4

$

43,168.7

$

37,383.2

$

36,668.3

Retail notes securitized – net

 

6,399.9

 

6,224.9

 

7,335.4

 

7,055.8

 

5,088.9

 

4,868.9

Securitization borrowings

 

6,116.1

6,103.8

 

6,995.2

 

6,921.1

 

4,863.9

 

4,784.8

Current maturities of long-term
external borrowings

 

5,705.1

5,610.7

 

6,059.9

 

5,953.0

 

6,080.1

 

5,957.2

Long-term external borrowings

 

28,720.4

 

28,775.5

 

27,439.3

 

27,057.7

 

23,493.4

 

23,126.2

Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis were as follows:

    

January 28

    

October 29

    

January 29

2024

2023

2023

Marketable securities

    

    

    

International debt securities

$

2.3

$

1.4

$

1.8

Receivables from John Deere

Derivatives

146.6

144.4

171.2

Other assets

Derivatives

22.2

 

11.3

 

1.2

Total assets

$

171.1

$

157.1

$

174.2

Other payables to John Deere

Derivatives

$

596.7

$

974.9

$

664.2

Accounts payable and accrued expenses

Derivatives

4.3

 

.5

 

29.1

Total liabilities

$

601.0

$

975.4

$

693.3

All fair value measurements in the table above were Level 2. Excluded from the table above were our cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of time deposits and money market funds.