LEASES (Tables)

3 Months Ended

Jan. 26, 2025

LEASES

Schedule of Lease Revenues Earned

Lease revenues earned by us were as follows:

	Three Months Ended
	January 26		January 28
	2025		2024
Sales-type and direct financing lease revenues	$	28.2	$	27.0
Operating lease revenues		254.1		234.2
Variable lease revenues		4.1		4.0
Total lease revenues	$	286.4	$	265.2

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 $.4 for the first quarter of 2025 and 2024, respectively.

Schedule of Cost of Equipment on Operating Leases by Market

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

	January 26		October 27		January 28
	2025		2024		2024
Agriculture and turf	$	5,693.4	$	5,765.0	$	5,198.3
Construction and forestry		931.5		963.7		1,005.7
Total		6,624.9		6,728.7		6,204.0
Accumulated depreciation		(1,331.2)		(1,301.0)		(1,270.6)
Equipment on operating leases – net	$	5,293.7	$	5,427.7	$	4,933.4