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ACQUISITIONS AND DISPOSITIONS (Tables)

12 Months Ended

Oct. 31, 2021

Bear Flag

Asset and Liability Fair Values at the Acquisition Date

In August 2021, the company acquired Bear Flag Robotics, Inc. (Bear Flag) to further accelerate Deere’s development and delivery of advanced technology. Bear Flag’s technology is complementary to other Deere technology efforts and enables autonomous tractor operations. The total cash purchase price before final adjustments, net of cash acquired of $4 million, was $225 million, with an additional $25 million to be recognized as compensation expense over the four-year post-acquisition service period. In addition to the cash purchase price, $19 million of liabilities were assumed. The preliminary asset and liability fair values at the acquisition date in millions of dollars follow:

​

​	​	​	​	​
​	​	August 2021		​
Property and equipment	​	$	1	​
Goodwill	​	​	189	​
Other intangible assets	​	​	54	​
Total assets	​	$	244	​
​	​	​	​	​
Accounts payable and accrued expenses	​	$	1	​
Deferred income taxes	​	​	18	​
Total liabilities	​	$	19	​

​

Unimil

Asset and Liability Fair Values at the Acquisition Date

In September 2020, the company acquired Unimil, a leading Brazilian company in the after-sales service parts business for sugarcane harvesters, which is based in Piracicaba, Brazil. The total cash purchase price, net of cash acquired of $5 million, was $66 million, with $6 million funded to an escrow to secure certain indemnity obligations. In addition to the cash purchase price, $14 million of liabilities were assumed. The asset and liability fair values at the acquisition date in millions of dollars follow:

​

​	​	​	​	​
​	​	September 2020		​
Trade accounts and notes receivable	​	$	5	​
Other receivables	​	​	2	​
Inventories	​	​	10	​
Property and equipment	​	​	22	​
Goodwill	​	​	28	​
Other intangible assets	​	​	13	​
Total assets	​	$	80	​
​	​	​	​	​
Accounts payable and accrued expenses	​	$	5	​
Deferred income taxes	​	​	9	​
Total liabilities	​	$	14	​

​

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472

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