Finance receivables (Tables)

9 Months Ended

Jul. 31, 2012

Receivables [Abstract]

Finance receivables by major classification

Our finance receivables by major classification are as follows:

(in millions)	July 31, 2012		October 31, 2011
Retail portfolio	$	1,188	$	1,613
Wholesale portfolio	1,175		1,334
Total finance receivables	2,363		2,947
Less: Allowance for doubtful accounts	28		34
Total finance receivables, net	2,335		2,913
Less: Current portion, net(A)	1,812		2,198
Noncurrent portion, net	$	523	$	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:

(in millions)	Maturity	July 31, 2012		October 31, 2011
Variable funding notes ("VFN")	October 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 July 31,				Nine Months Ended July 31,
(in millions)	2012		2011		2012		2011
Retail notes and finance leases revenue	$	24	$	32	$	76	$	108
Operating lease revenue	10		8		30		23
Wholesale notes interest	22		25		67		76
Retail and wholesale accounts interest	8		8		26		20
Securitization income	—		—		—		2
Gross finance revenues	64		73		199		229
Less: Intercompany revenues	22		26		70		75
Finance revenues	$	42	$	47	$	129	$	154