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GOODWILL AND OTHER INTANGIBLE ASSETS-NET | 9 Months Ended
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Aug. 02, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS-NET |
GOODWILL AND OTHER INTANGIBLE ASSETS-NET | (14) Goodwill and Other Intangible Assets–Net The changes in amounts of goodwill by operating segments were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Agriculture |  | Construction |  | ​ | ​ |
​ | ​ | and Turf | ​ | and Forestry | ​ | Total |
Goodwill at October 28, 2018 | ​ | $ | 583 | ​ | $ | 2,518 | ​ | $ | 3,101 | ​
Translation adjustments and other | ​ |  | (1) | ​ | ​ | (87) | ​ | ​ | (88) | ​
Goodwill at July 28, 2019 | ​ | $ | 582 | ​ | $ | 2,431 | ​ | $ | 3,013 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill at November 3, 2019 | ​ | $ | 574 | ​ | $ | 2,343 | ​ | $ | 2,917 | ​
Translation adjustments and other | ​ | ​ | 2 | ​ | ​ | 65 | ​ | ​ | 67 | ​
Goodwill at August 2, 2020 | ​ | $ | 576 | ​ | $ | 2,408 | ​ | $ | 2,984 | ​
There were no accumulated impairment losses in the reported periods. The components of other intangible assets were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | August 2 |  | November 3 |  | July 28 |
​ | ​ | 2020 | ​ | 2019 | ​ | 2019 |
Amortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer lists and relationships | ​ | $ | 515 | ​ | $ | 511 | ​ | $ | 525 | ​
Technology, patents, trademarks, and other | ​ | ​ | 1,021 | ​ |  | 1,028 | ​ |  | 1,057 | ​
Total at cost | ​ | ​ | 1,536 | ​ |  | 1,539 | ​ |  | 1,582 | ​
Less accumulated amortization * | ​ | ​ | 358 | ​ |  | 282 | ​ |  | 261 | ​
Total | ​ | ​ | 1,178 | ​ | ​ | 1,257 | ​ | ​ | 1,321 | ​
Unamortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
In-process research and development | ​ | ​ | 123 | ​ | ​ | 123 | ​ | ​ | 123 | ​
Other intangible assets – net | ​ | $ | 1,301 | ​ | $ | 1,380 | ​ | $ | 1,444 | ​
* Accumulated amortization at August 2, 2020, November 3, 2019, and July 28, 2019 for customer lists and relationships totaled $103 million, $77 million, and $71 million and technology, patents, trademarks, and other totaled $255 million, $205 million, and $190 million, respectively. The amortization of other intangible assets in the third quarter and the first nine months of 2020 was $26 million and $76 million and for 2019 was $27 million and $82 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2020 – $25, 2021 – $101, 2022 – $100, 2023 – $99, 2024 – $96, and 2025 –$95. As outlined in the 2019 Form 10-K, goodwill is tested for impairment annually and when events or circumstances change such that it is more likely than not that the fair value of a reporting unit is reduced below its carrying value. The annual measurement date is the end of the third quarter. In the second and third quarters of 2020, for each significant reporting unit the Company reviewed previous fair value analyses considering the uncertain and unknown economic effects of COVID. The Company concluded that an impairment was not required. The intangible assets subject to amortization were also considered to determine if the carrying amount may not be recoverable. Except as identified in Note 20, the Company concluded the carrying amount would be recovered based on current estimates. These positions will be evaluated in future quarters, as necessary.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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