FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jan. 26, 2025

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


	January 26, 2025				October 27, 2024				January 28, 2024
	Carrying		Fair		Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value		Value		Value
Receivables financed – net	$	41,929.2	$	41,818.8	$	45,278.7	$	45,291.5	$	44,313.9	$	43,978.1
Retail notes securitized – net		8,255.2		8,172.3		8,721.4		8,651.8		6,399.9		6,224.9
Securitization borrowings		8,012.6		8,033.7		8,429.3		8,451.1		6,116.1		6,103.8
Current maturities of long-term external borrowings		8,376.6		8,331.1		7,628.9		7,600.4		5,705.1		5,610.7
Long-term external borrowings		32,236.4		32,505.5		33,725.4		33,904.9		28,720.4		28,775.5

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 26		October 27		January 28
	2025		2024		2024
Marketable securities
International debt securities	$	3.8	$	3.8	$	2.3
Receivables from John Deere
Derivatives		70.1		192.3		146.6
Other assets
Derivatives		1.4		27.7		22.2
Total assets	$	75.3	$	223.8	$	171.1

Other payables to John Deere
Derivatives	$	642.6	$	489.2	$	596.7
Accounts payable and accrued expenses
Derivatives		17.6		.8		4.3
Total liabilities	$	660.2	$	490.0	$	601.0

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.