Finance receivables (Tables)

3 Months Ended

Jan. 31, 2012

Receivables [Abstract]

Finance receivables by major classification

Our finance receivables by major classification are as follows:

	January 31, 2012			October 31, 2011
(in millions)
Retail portfolio	$	1,382		$	1,613
Wholesale portfolio	1,265			1,334
Total finance receivables	2,647			2,947
Less: Allowance for doubtful accounts	(31		)	(34		)
Total finance receivables, net	2,616			2,913
Less: Current portion, net(A)	(1,955		)	(2,198		)
Noncurrent portion, net	$	661		$	715

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(A) The current portion of finance receivables is computed based on contractual maturities. Actual cash collections typically vary from the contractual cash flows because of prepayments, extensions, delinquencies, credit losses, and renewals.

Components of available wholesale note trust funding facilities

Components of available wholesale note trust funding facilities were as follows:

	Maturity	January 31, 2012		October 31, 2011
(in millions)
Variable funding notes ("VFN")	July 2012	$	500	$	500
Investor notes	October 2012	350		350
Investor notes	October 2013	224		—
Investor notes	January 2012	—		250
Total wholesale note funding		$	1,074	$	1,100

Finance revenues derived from receivables

Finance revenues consist of the following:

	Three Months Ended January 31,
	2012			2011
(in millions)
Retail notes and finance leases revenue	$	26		$	37
Operating lease revenue	9			7
Wholesale notes interest	23			25
Retail and wholesale accounts interest	10			6
Securitization income	—			(2		)
Gross finance revenues	68			73
Less: Intercompany revenues	(24		)	(23		)
Finance revenues	$	44		$	50