Finance receivables (Tables)

6 Months Ended

Apr. 30, 2012

Receivables [Abstract]

Finance receivables by major classification

Our finance receivables by major classification are as follows:

	April 30, 2012		October 31, 2011
(in millions)
Retail portfolio	$	1,384	$	1,613
Wholesale portfolio	1,284		1,334
Total finance receivables	2,668		2,947
Less: Allowance for doubtful accounts	28		34
Total finance receivables, net	2,640		2,913
Less: Current portion, net(A)	2,066		2,198
Noncurrent portion, net	$	574	$	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	April 30, 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 April 30,						Six Months Ended April 30,
	2012			2011			2012			2011
(in millions)
Retail notes and finance leases revenue	$	26		$	39		$	52		$	76
Operating lease revenue	11			8			20			15
Wholesale notes interest	22			26			45			51
Retail and wholesale accounts interest	8			6			18			12
Securitization income	—			4			—			2
Gross finance revenues	67			83			135			156
Less: Intercompany revenues	(24		)	(26		)	(48		)	(49		)
Finance revenues	$	43		$	57		$	87		$	107