FINANCING RECEIVABLES (Tables)

9 Months Ended

Aug. 02, 2026

Analysis of the Allowance for Credit Losses and Investment in Financing Receivables

An analysis of the allowance for credit losses and investment in financing receivables follows:


	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total

Three Months Ended August 2, 2026
Allowance:
Beginning of period balance	$	257	$	8	$	2	$	267
Provision		57		23				80
Write-offs		(59)		(35)				(94)
Recoveries		4		12				16
Translation adjustments		(1)						(1)
End of period balance	$	258	$	8	$	2	$	268

Nine Months Ended August 2, 2026
Allowance:
Beginning of period balance	$	249	$	7	$	2	$	258
Provision		158		49				207
Write-offs		(161)		(83)				(244)
Recoveries		13		35				48
Translation adjustments		(1)						(1)
End of period balance	$	258	$	8	$	2	$	268

Financing receivables:
End of period balance	$	36,967	$	5,160	$	7,317	$	49,444


	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total

Three Months Ended July 27, 2025
Allowance:
Beginning of period balance	$	243	$	13	$	2	$	258
Provision		49		33				82
Write-offs		(49)		(49)				(98)
Recoveries		5		11				16
End of period balance	$	248	$	8	$	2	$	258

Nine Months Ended July 27, 2025
Allowance:
Beginning of period balance	$	219	$	8	$	2	$	229
Provision		171		74				245
Write-offs		(153)		(102)				(255)
Recoveries		11		28				39
End of period balance	$	248	$	8	$	2	$	258

Financing receivables:
End of period balance	$	38,135	$	4,824	$	9,177	$	52,136

Ending Amortized Cost of Financing Receivables Modified

The ending amortized cost of financing receivables modified with borrowers experiencing financial difficulty was as follows:


	Three Months Ended				Nine Months Ended
	August 2		July 27		August 2		July 27
	2026		2025		2026		2025
Modified financing receivables	$	46	$	45	$	155	$	115
Percent of financing receivables portfolio		0.09%		0.09%		0.31%		0.22%

Schedule of Weighted-Average Effects for Contract Modifications in Months

The weighted-average effects for contract modifications were as follows in months:


	Nine Months Ended
	August 2	July 27
	2026	2025
Payment deferral	6	7
Term extension	11	11
Combination modifications:
Payment deferral	9	5
Term extension	18	8

Ending Amortized Cost and Performance of Financing Receivables Modified During the Prior Twelve Months

The ending amortized cost and performance of financing receivables modified during the prior twelve months ended August 2, 2026, and July 27, 2025, were as follows:


	August 2		July 27
	2026		2025
Current	$	170	$	116
30-59 days past due		5		5
60-89 days past due		3		5
90+ days past due				2
Non-performing		23		14
Total	$	201	$	142

Retail Customer Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows:


	August 2, 2026
	2026		2025		2024		2023		2022		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	8,188	$	8,647	$	5,970	$	3,499	$	1,788	$	626	$	4,975	$	33,693
30-59 days past due		34		78		65		39		18		8		34		276
60-89 days past due		9		36		31		16		7		3		10		112
90+ days past due		1		1		1		1								4
Non-performing		15		121		122		87		43		26		13		427
Construction and forestry
Current		2,462		2,338		1,346		577		198		31		121		7,073
30-59 days past due		38		60		32		21		7		2		5		165
60-89 days past due		27		26		17		12		3		1		1		87
90+ days past due				1		3				3						7
Non-performing		21		70		92		61		23		15		1		283
Total retail customer receivables	$	10,795	$	11,378	$	7,679	$	4,313	$	2,090	$	712	$	5,160	$	42,127

Write-offs for the nine months ended August 2, 2026:
Agriculture and turf	$	1	$	22	$	26	$	19	$	8	$	5	$	78	$	159
Construction and forestry		4		23		21		16		5		11		5		85
Total	$	5	$	45	$	47	$	35	$	13	$	16	$	83	$	244


	November 2, 2025
	2025		2024		2023		2022		2021		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	12,380	$	8,389	$	5,228	$	3,003	$	1,310	$	281	$	4,608	$	35,199
30-59 days past due		36		73		59		38		15		7		37		265
60-89 days past due		14		37		28		13		8		2		10		112
90+ days past due		1		2				1		2						6
Non-performing		41		109		98		57		30		17		14		366
Construction and forestry
Current		3,175		2,038		1,034		463		130		12		124		6,976
30-59 days past due		42		47		31		12		4		1		5		142
60-89 days past due		21		17		12		8		1		1		2		62
90+ days past due		1		6		3		2				1				13
Non-performing		31		94		78		38		19		7		1		268
Total retail customer receivables	$	15,742	$	10,812	$	6,571	$	3,635	$	1,519	$	329	$	4,801	$	43,409

Write-offs for the twelve months ended November 2, 2025:
Agriculture and turf	$	6	$	32	$	34	$	21	$	9	$	7	$	102	$	211
Construction and forestry		9		38		29		12		3		3		7		101
Total	$	15	$	70	$	63	$	33	$	12	$	10	$	109	$	312


	July 27, 2025
	2025		2024		2023		2022		2021		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	8,633	$	9,774	$	6,044	$	3,554	$	1,669	$	483	$	4,632	$	34,789
30-59 days past due		47		92		65		34		18		6		44		306
60-89 days past due		19		52		31		22		9		3		12		148
90+ days past due				5		1		1		2						9
Non-performing		13		116		120		70		41		23		14		397
Construction and forestry
Current		2,288		2,304		1,236		592		195		26		114		6,755
30-59 days past due		36		72		43		19		7		2		4		183
60-89 days past due		18		28		18		6		3		2		2		77
90+ days past due				6				2				1				9
Non-performing		20		96		88		48		23		9		2		286
Total retail customer receivables	$	11,074	$	12,545	$	7,646	$	4,348	$	1,967	$	555	$	4,824	$	42,959

Write-offs for the nine months ended July 27, 2025:
Agriculture and turf	$	3	$	25	$	28	$	16	$	5	$	5	$	97	$	179
Construction and forestry		3		30		25		9		2		2		5		76
Total	$	6	$	55	$	53	$	25	$	7	$	7	$	102	$	255

Wholesale Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of wholesale receivables was as follows:


	August 2		November 2		July 27
	2026		2025		2025
Wholesale receivables:
Agriculture and turf
Current	$	5,880	$	6,731	$	7,617
30+ days past due
Non-performing		4				1
Construction and forestry
Current		1,433		1,524		1,559
30+ days past due
Non-performing
Total wholesale receivables	$	7,317	$	8,255	$	9,177