XML 90 R63.htm IDEA: XBRL DOCUMENT
v3.21.2

SEGMENT AND GEOGRAPHIC AREA DATA (Tables) | 12 Months Ended
--- | ---
Oct. 31, 2021
SEGMENT AND GEOGRAPHIC AREA DATA |
Schedule of Segment Reporting Information | Information relating to operations by operating segment in millions of dollars follows for the years ended October 31, 2021, November 1, 2020 and November 3, 2019. In addition to the following unaffiliated sales and revenues by segment, intersegment sales and revenues in 2021, 2020, and 2019 were as follows: production and precision agriculture net sales of $27 million, $22 million, and $31 million; small agriculture and turf net sales of $11 million, $2 million, and $3 million; construction and forestry had no intersegment sales in 2021, $1 million in 2020, and $1 million in 2019; and financial services revenues of $246 million, $278 million, and $348 million, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING SEGMENTS | ​ | 2021 |  | 2020 |  | 2019 |
Net sales and revenues |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Unaffiliated customers: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Production & precision ag net sales | ​ | $ | 16,509 | ​ | $ | 12,962 | ​ | $ | 13,364 | ​
Small ag & turf net sales | ​ | ​ | 11,860 | ​ | ​ | 9,363 | ​ | ​ | 10,302 | ​
Construction & forestry net sales | ​ |  | 11,368 | ​ |  | 8,947 | ​ |  | 11,220 | ​
Financial services revenues | ​ |  | 3,548 | ​ |  | 3,589 | ​ |  | 3,621 | ​
Other revenues* | ​ |  | 739 | ​ |  | 679 | ​ |  | 751 | ​
Total | ​ | $ | 44,024 | ​ | $ | 35,540 | ​ | $ | 39,258 | ​
* Other revenues are primarily the equipment operations’ revenues for finance and interest income, and other income. ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING SEGMENTS |  | 2021 |  | 2020 |  | 2019 |
Operating profit |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 3,334 | ​ | $ | 1,969 | ​ | $ | 1,729 | ​
Small ag & turf | ​ | ​ | 2,045 | ​ | ​ | 1,000 | ​ | ​ | 777 | ​
Construction & forestry | ​ |  | 1,489 | ​ |  | 590 | ​ |  | 1,215 | ​
Financial services* | ​ |  | 1,144 | ​ |  | 746 | ​ |  | 694 | ​
Total operating profit* | ​ |  | 8,012 | ​ |  | 4,305 | ​ |  | 4,415 | ​
Interest income | ​ |  | 82 | ​ |  | 62 | ​ |  | 85 | ​
Interest expense | ​ |  | (368) | ​ |  | (329) | ​ |  | (256) | ​
Foreign exchange gains (losses) from equipment operations’ financing activities | ​ |  | (45) | ​ |  | 17 | ​ |  | (22) | ​
Pension and OPEB benefit (cost), excluding service cost component | ​ | ​ | 183 | ​ | ​ | 31 | ​ | ​ | 67 | ​
Corporate expenses – net | ​ |  | (241) | ​ |  | (251) | ​ |  | (180) | ​
Income taxes | ​ |  | (1,658) | ​ |  | (1,082) | ​ |  | (852) | ​
Total | ​ |  | (2,047) | ​ |  | (1,552) | ​ |  | (1,158) | ​
Net income | ​ |  | 5,965 | ​ |  | 2,753 | ​ |  | 3,257 | ​
Less: Net income attributable to noncontrolling interests | ​ |  | 2 | ​ | ​ | 2 | ​ | ​ | 4 | ​
Net income attributable to Deere & Company | ​ | $ | 5,963 | ​ | $ | 2,751 | ​ | $ | 3,253 | ​
* Operating profit of the financial services business segment includes the effect of its interest expense and foreign exchange gains or losses. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest income* |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 21 | ​ | $ | 22 | ​ | $ | 16 | ​
Small ag & turf | ​ | ​ | 21 | ​ | ​ | 16 | ​ | ​ | 6 | ​
Construction & forestry | ​ |  | 10 | ​ |  | 12 | ​ |  | 11 | ​
Financial services | ​ |  | 1,999 | ​ |  | 2,122 | ​ |  | 2,316 | ​
Corporate | ​ |  | 82 | ​ |  | 62 | ​ |  | 85 | ​
Intercompany | ​ |  | (279) | ​ |  | (272) | ​ |  | (360) | ​
Total | ​ | $ | 1,854 | ​ | $ | 1,962 | ​ | $ | 2,074 | ​
* Does not include finance rental income for equipment on operating leases. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 84 | ​ | $ | 76 | ​ | $ | 87 | ​
Small ag & turf | ​ | ​ | 87 | ​ | ​ | 111 | ​ | ​ | 158 | ​
Construction & forestry | ​ |  | 46 | ​ |  | 61 | ​ |  | 91 | ​
Financial services | ​ |  | 687 | ​ |  | 942 | ​ |  | 1,234 | ​
Corporate | ​ |  | 368 | ​ |  | 329 | ​ |  | 256 | ​
Intercompany | ​ |  | (279) | ​ |  | (272) | ​ |  | (360) | ​
Total | ​ | $ | 993 | ​ | $ | 1,247 | ​ | $ | 1,466 | ​
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation* and amortization expense |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 495 | ​ | $ | 480 | ​ | $ | 475 | ​
Small ag & turf | ​ | ​ | 245 | ​ | ​ | 247 | ​ | ​ | 248 | ​
Construction & forestry | ​ |  | 303 | ​ |  | 289 | ​ |  | 292 | ​
Financial services | ​ |  | 1,140 | ​ |  | 1,227 | ​ |  | 1,135 | ​
Intercompany | ​ | ​ | (133) | ​ | ​ | (125) | ​ | ​ | (131) | ​
Total | ​ | $ | 2,050 | ​ | $ | 2,118 | ​ | $ | 2,019 | ​
* Includes depreciation for equipment on operating leases. ​ (continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING SEGMENTS |  | 2021 |  | 2020 |  | 2019 |
Equity in income (loss) of unconsolidated affiliates |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Small ag & turf | ​ | $ | 2 | ​ | $ | 2 | ​ | $ | 6 | ​
Construction & forestry | ​ |  | 16 | ​ | ​ | (52) | ​ | ​ | 14 | ​
Financial services | ​ |  | 3 | ​ |  | 2 | ​ |  | 1 | ​
Total | ​ | $ | 21 | ​ | $ | (48) | ​ | $ | 21 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Identifiable operating assets |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 7,021 | ​ | $ | 5,708 | ​ | $ | 6,149 | ​
Small ag & turf | ​ | ​ | 3,959 | ​ | ​ | 3,266 | ​ | ​ | 3,656 | ​
Construction & forestry | ​ |  | 6,457 | ​ |  | 6,322 | ​ |  | 7,044 | ​
Financial services | ​ |  | 51,624 | ​ |  | 48,719 | ​ |  | 48,483 | ​
Corporate* | ​ |  | 15,053 | ​ |  | 11,076 | ​ |  | 7,679 | ​
Total | ​ | $ | 84,114 | ​ | $ | 75,091 | ​ | $ | 73,011 | ​
* Corporate assets are primarily the equipment operations’ retirement benefits, deferred income tax assets, goodwill, marketable securities, and cash and cash equivalents. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital additions |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 458 | ​ | $ | 431 | ​ | $ | 595 | ​
Small ag & turf | ​ | ​ | 253 | ​ | ​ | 223 | ​ | ​ | 264 | ​
Construction & forestry | ​ |  | 183 | ​ |  | 157 | ​ |  | 245 | ​
Financial services | ​ |  | 3 | ​ |  | 4 | ​ |  | 3 | ​
Total | ​ | $ | 897 | ​ | $ | 815 | ​ | $ | 1,107 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments in unconsolidated affiliates |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | ​ | ​ | ​ | $ | 1 | ​ | $ | 1 | ​
Small ag & turf | ​ | $ | 31 | ​ | ​ | 29 | ​ | ​ | 27 | ​
Construction & forestry | ​ |  | 122 | ​ |  | 144 | ​ |  | 171 | ​
Financial services | ​ |  | 22 | ​ |  | 19 | ​ |  | 16 | ​
Total | ​ | $ | 175 | ​ | $ | 193 | ​ | $ | 215 | ​
​
Schedule of Geographic Area Reporting Information | The company views and has historically disclosed its operations as consisting of two geographic areas (the U.S. and Canada, and outside the U.S. and Canada) for net sales and revenues and operating profit shown below in millions of dollars. No individual foreign country’s net sales and revenues were material for disclosure purposes. For property and equipment, a material amount does reside in the country of Germany, separately disclosed below in millions of dollars. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
GEOGRAPHIC AREAS | ​ | 2021 | ​ | 2020 | ​ | 2019 |
Net sales and revenues |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Unaffiliated customers: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. and Canada | ​ | $ | 25,829 | ​ | $ | 21,386 | ​ | $ | 23,746 | ​
Outside U.S. and Canada | ​ | ​ | 18,195 | ​ | ​ | 14,154 | ​ | ​ | 15,512 | ​
Total | ​ | $ | 44,024 | ​ | $ | 35,540 | ​ | $ | 39,258 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating profit |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
U.S. and Canada | ​ | $ | 4,774 | ​ | $ | 2,775 | ​ | $ | 2,841 | ​
Outside U.S. and Canada | ​ | ​ | 3,238 | ​ | ​ | 1,530 | ​ | ​ | 1,574 | ​
Total | ​ | $ | 8,012 | ​ | $ | 4,305 | ​ | $ | 4,415 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Property and equipment |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
U.S. and Canada | ​ | $ | 3,164 | ​ | $ | 3,178 | ​ | $ | 3,197 | ​
Germany | ​ |  | 1,096 | ​ |  | 1,113 | ​ |  | 1,137 | ​
Other countries | ​ |  | 1,560 | ​ |  | 1,526 | ​ |  | 1,639 | ​
Total | ​ | $ | 5,820 | ​ | $ | 5,817 | ​ | $ | 5,973 | ​

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration