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GOODWILL AND OTHER INTANGIBLE ASSETS-NET

9 Months Ended

Aug. 01, 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 segments were as follows in millions of dollars:


	Production &		Small Ag		Construction
	Precision Ag		& Turf		& Forestry		Total
Goodwill at November 3, 2019	$	310	$	264	$	2,343	$	2,917
Translation adjustments and other		1		1		65		67
Goodwill at August 2, 2020	$	311	$	265	$	2,408	$	2,984

Goodwill at November 1, 2020	$	333	$	268	$	2,480	$	3,081
Acquisition		12						12
Translation adjustments and other		13		(3)		45		55
Goodwill at August 1, 2021	$	358	$	265	$	2,525	$	3,148

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

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


	August 1		November 1		August 2
	2021		2020		2020
Amortized intangible assets:
Customer lists and relationships	$	545	$	535	$	515
Technology, patents, trademarks, and other		1,080		1,056		1,021
Total at cost		1,625		1,591		1,536
Less accumulated amortization:
Customer lists and relationships		144		113		103
Technology, patents, trademarks, and other		337		274		255
Total accumulated amortization		481		387		358
Amortized intangible assets, net		1,144		1,204		1,178
Unamortized intangible assets:
In-process research and development		123		123		123
Other intangible assets – net	$	1,267	$	1,327	$	1,301

The amortization of other intangible assets in the third quarter and the first nine months of 2021 was $27 million and $89 million, and for 2020 was $26 million and $76 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2021 – $26, 2022 – $107, 2023 – $106, 2024 – $102, 2025 – $99, and 2026 –$97.