Finance Receivables (Tables)

6 Months Ended

Apr. 30, 2021

Receivables [Abstract]

Schedule of Finance Receivables, Net

Our Finance receivables, net in our Consolidated Balance Sheets consist of the following:

(in millions)	As of April 30, 2021		As of October 31, 2020
Retail portfolio	$	643	$	622
Wholesale portfolio	1,009		1,025
Total finance receivables	1,652		1,647
Less: Allowance for credit losses	34		25
Total finance receivables, net	1,618		1,622
Less: Current portion, net(A)	1,360		1,371
Noncurrent portion, net	$	258	$	251

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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.

Schedule of Finance Revenues

The following table presents the components of our Finance revenues from our Financial Services segment:

	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Retail notes and finance leases revenue	$	15	$	18	$	31	$	34
Wholesale notes revenue	9		19		20		35
Operating lease revenue	24		23		47		44
Retail and wholesale accounts revenue	2		4		3		8
Gross finance revenues	50		64		101		121
Less: Intercompany revenues	7		14		13		25
Finance revenues	$	43	$	50	$	88	$	96