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SEGMENT REPORTING (Tables)

3 Months Ended

Jan. 31, 2021

SEGMENT REPORTING

Schedule of Segment Reporting Information

Worldwide net sales and revenues, operating profit, and identifiable assets by segment in millions of dollars follow:

​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended
	​	January 31		​	February 2		​	%
​		2021			2020			Change
Net sales and revenues:		​			​				​
Production & precision ag		$	3,069	​	$	2,507	​	+22	​
Small ag & turf	​	​	2,515	​	​	1,979	​	+27	​
Construction & forestry	​	​	2,467	​		2,044	​	+21	​
Total net sales	​	​	8,051	​		6,530	​	+23	​
Financial services	​	​	884	​		931	​	-5	​
Other revenues	​	​	177	​		170	​	+4	​
Total net sales and revenues		$	9,112	​	$	7,631	​	+19	​
Operating profit: *	​	​	​	​	​	​	​	​	​
Production & precision ag		$	643	​	$	218	​	+195	​
Small ag & turf	​	​	469	​	​	155	​	+203	​
Construction & forestry	​	​	268	​		93	​	+188	​
Financial services	​	​	258	​		179	​	+44	​
Total operating profit	​	​	1,638	​		645	​	+154	​
Reconciling items **	​	​	(106)	​		(78)	​	+36	​
Income taxes	​	​	(308)	​		(50)	​	+516	​
Net income attributable to Deere & Company		$	1,224	​	$	517	​	+137	​
​	​	​	​	​	​	​	​	​	​
Intersegment sales and revenues:	​	​	​	​	​	​	​	​	​
Production & precision ag net sales		$	6	​	$	6	​	​	​
Small ag & turf net sales	​	​	3	​	​	1	​	+200	​
Construction & forestry net sales	​	​	​	​	​	​	​	​	​
Financial services	​	​	50	​		67	​	-25	​
​	​	​	​	​	​	​	​	​	​
Equipment operations outside the U.S. and Canada:	​	​	​	​	​	​	​	​	​
Net sales		$	3,522	​	$	2,780	​	+27	​
Operating profit	​	​	563	​		225	​	+150	​

* Operating profit is income from continuing operations before corporate expenses, certain external interest expense, certain foreign exchange gains and losses, and income taxes. Operating profit of the financial services segment includes the effect of interest expense and foreign exchange gains and losses.

** Reconciling items are primarily corporate expenses, certain external interest expense, certain foreign exchange gains and losses, pension and postretirement benefit costs excluding the service cost component, and net income attributable to noncontrolling interests.

​

At the beginning of fiscal year 2021, the Company reclassified goodwill from identifiable operating segment assets to corporate assets for segment reporting, as goodwill is no longer considered in evaluating the operating performance of the segments. Prior period amounts have been restated for a consistent presentation.

​	​	​	​	​	​	​	​	​	​	​
​		January 31			November 1			February 2
​	​	2021		​	2020		​	2020
Identifiable assets:	​	​	​	​	​	​	​	​	​	​
Production & precision ag		$	6,330	​	$	5,708	​	$	6,407	​
Small ag & turf	​	​	3,510	​	​	3,266	​	​	3,838	​
Construction & forestry	​	​	6,341	​		6,322	​		7,002	​
Financial services	​	​	48,378	​		48,719	​		47,279	​
Corporate	​	​	10,921	​		11,076	​		7,295	​
Total assets		$	75,480	​	$	75,091	​	$	71,821	​

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.

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-Publisher FASB
-Name Accounting Standards Codification
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