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GOODWILL AND OTHER INTANGIBLE ASSETS-NET

3 Months Ended

Jan. 31, 2021

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 segment were as follows in millions of dollars:


	Production & Precision Ag		Small Ag & Turf		Construction & Forestry		Total
Goodwill at November 3, 2019	$	310	$	264	$	2,343	$	2,917
Translation adjustments and other		(2)		(1)		31		28
Goodwill at February 2, 2020	$	308	$	263	$	2,374	$	2,945

Goodwill at November 1, 2020	$	333	$	268	$	2,480	$	3,081
Acquisition		12						12
Translation adjustments and other		12		(1)		90		101
Goodwill at January 31, 2021	$	357	$	267	$	2,570	$	3,194

There were no accumulated goodwill impairment losses in the reported periods.

The components of other intangible assets were as follows in millions of dollars:


	January 31		November 1		February 2
	2021		2020		2020
Amortized intangible assets:
Customer lists and relationships	$	553	$	535	$	517
Technology, patents, trademarks, and other		1,099		1,056		1,013
Total at cost		1,652		1,591		1,530
Less accumulated amortization *		433		387		304
Total		1,219		1,204		1,226
Unamortized intangible assets:
In-process research and development		123		123		123
Other intangible assets – net	$	1,342	$	1,327	$	1,349

* Accumulated amortization at January 31, 2021, November 1, 2020, and February 2, 2020 for customer lists and relationships totaled $128 million, $113 million, and $86 million and technology, patents, trademarks, and other totaled $305 million, $274 million, and $218 million, respectively.

The amortization of other intangible assets in the first quarter of 2021 and 2020 was $34 million and $25 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2021 – $82, 2022 – $109, 2023 – $107, 2024 – $103, 2025 – $100, and 2026 – $98.