Investments in Non-Consolidated Affiliates (Notes)

12 Months Ended

Oct. 31, 2014

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Investments in Non-consolidated Affiliates

Investments in non-consolidated affiliates is comprised of our interests in partially-owned affiliates of which our ownership percentages range from 10% to 50%. We do not control these affiliates, but have the ability to exercise significant influence over their operating and financial policies. We account for them using the equity method of accounting. We made no new and incremental investments in these non-consolidated affiliates for 2014, compared to $25 million in 2013.

The following table summarizes 100% of the combined assets, liabilities, and equity of our equity method affiliates as of October 31:

	(Unaudited)
(in millions)	2014		2013
Assets:
Current assets	$	252	$	254
Noncurrent assets	130		50
Total assets	$	382	$	304
Liabilities and equity:
Current liabilities	$	191	$	111
Noncurrent liabilities	12		8
Total liabilities	203		119
Partners' capital and stockholders' equity:
NIC	75		77
Third parties	104		108
Total partners' capital and stockholders' equity	179		185
Total liabilities and equity	$	382	$	304

The following table summarizes 100% of the combined results of operations of our equity method affiliates for the years ended October 31:

	(Unaudited)
(in millions)	2014		2013		2012
Net sales	$	527	$	448	$	704
Costs, expenses, and income tax expense	500		412		726
Net income (loss)	$	27	$	36	$	(22	)

We recorded sales to certain of these affiliates totaling $8 million, $63 million, and $25 million in 2014, 2013, and 2012, respectively. We also purchased $219 million, $245 million, and $370 million of products and services from certain of these affiliates in 2014, 2013, and 2012, respectively.

Amounts due to and due from our affiliates arising from the sale and purchase of products and services as of October 31, are as follows:

(in millions)	2014		2013
Receivables due from affiliates	$	1	$	23
Payables due to affiliates	30		32

As of October 31, 2014 and 2013, our share of net unfunded earnings in non-consolidated affiliates totaled $25 million and $27 million, respectively.

In February 2013, the Company sold its interests in the Mahindra Joint Ventures to Mahindra for $33 million. As a result of the divestiture, the Global Operations segment recognized a gain of $26 million in 2013. As part of the transaction, the Company entered into licensing and service agreements with Mahindra.