LEASES (Tables)

9 Months Ended

Jul. 28, 2024

LEASES

Schedule of Lease Revenues Earned

Lease revenues earned by us were as follows:

	Three Months Ended				Nine Months Ended
	July 28		July 30		July 28		July 30
	2024		2023		2024		2023
Sales-type and direct financing lease revenues	$	30.4	$	25.2	$	83.7	$	63.6
Operating lease revenues		246.3		224.9		716.2		660.6
Variable lease revenues		4.0		.1		12.1		10.3
Total lease revenues	$	280.7	$	250.2	$	812.0	$	734.5

Variable lease revenues reported above primarily relate to separately invoiced property taxes on leased equipment in certain markets, late fees, and excess use and damage fees. Excess use and damage fees are reported in “Other income” and were $.6 and $1.7 for the third quarter and the nine months ended July 28, 2024, respectively, compared with $.1 and $1.3 for the same periods last year, respectively.

Schedule of Cost of Equipment on Operating Leases by Market

The cost of equipment on operating leases by market was as follows:

	July 28		October 29		July 30
	2024		2023		2023
Agriculture and turf	$	5,510.2	$	5,265.2	$	5,049.1
Construction and forestry		970.2		1,042.4		1,054.2
Total		6,480.4		6,307.6		6,103.3
Accumulated depreciation		(1,281.0)		(1,256.1)		(1,265.8)
Equipment on operating leases – net	$	5,199.4	$	5,051.5	$	4,837.5