
	August 2		November 2		July 27
	2026		2025		2025
Accounts payable:
Trade payables	$	3,255	$	2,985	$	2,718
Dividends payable		443		443		443
Operating lease liabilities		344		314		285
Deposits withheld from dealers and merchants		132		143		137
Payables to unconsolidated affiliates		26		10		5
Other		192		191		215
Accrued expenses:
Employee benefits		1,142		1,577		1,356
Product warranties		1,333		1,259		1,273
Accrued taxes		1,007		1,155		1,331
Extended warranty premium		1,229		1,202		1,226
Dealer sales incentives		641		828		659
Unearned revenue (contractual liability)		891		837		874
Unearned operating lease revenue		514		534		517
Accrued interest		491		524		474
Derivative liabilities		528		389		517
Parts return liability		434		445		423
Other		1,066		1,073		1,129
Accounts payable and accrued expenses	$	13,668	$	13,909	$	13,582

Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,198 at August 2, 2026, $1,892 at November 2, 2025, and $2,268 at July 27, 2025. Other eliminations were made for accrued taxes and other accrued expenses.