LEASES (Tables)

12 Months Ended

Oct. 27, 2024

LEASES

Schedule of Lease Revenues Earned

Lease revenues earned by us were as follows:

	2024		2023		2022
Sales-type and direct financing lease revenues	$	113.9	$	90.7	$	56.6
Operating lease revenues		968.6		894.2		886.1
Variable lease revenues		16.3		14.2		23.4
Total lease revenues	$	1,098.8	$	999.1	$	966.1

Variable lease revenues reported above include excess use and damage fees of $2.2, $1.8, and $2.4 for 2024, 2023, and 2022, 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 27, 2024 and October 29, 2023 were as follows:

	2024		2023
Agriculture and turf	$	656.0	$	664.4
Construction and forestry		209.9		223.4
Total		865.9		887.8
Guaranteed residual values		895.6		701.9
Unguaranteed residual values		26.9		27.2
Unearned finance income		(151.5)		(195.1)
Financing leases receivable	$	1,636.9	$	1,421.8

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 27, 2024 were as follows:

Due in:
2025	$	1,122.0
2026		298.2
2027		173.8
2028		99.3
2029		51.5
Later years		16.7
Total	$	1,761.5

Schedule of Cost of Equipment on Operating Leases by Market

The cost of equipment on operating leases by market at October 27, 2024 and October 29, 2023 was as follows:

	2024		2023
Agriculture and turf	$	5,765.0	$	5,265.2
Construction and forestry		963.7		1,042.4
Total		6,728.7		6,307.6
Accumulated depreciation		(1,301.0)		(1,256.1)
Equipment on operating leases - net	$	5,427.7	$	5,051.5

Schedule of Lease Payments for Equipment on Operating Leases

Lease payments for equipment on operating leases at October 27, 2024 were scheduled as follows:

Due in:
2025	$	852.4
2026		620.8
2027		357.4
2028		176.8
2029		41.7
Later years		8.6
Total	$	2,057.7