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SEGMENT REPORTING (Tables)

9 Months Ended

Aug. 01, 2021

SEGMENT REPORTING

Schedule of Segment Reporting Information

Worldwide net sales and revenues, operating profit, and identifiable assets by segment were as follows in millions of dollars. 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 to net income are primarily corporate expenses, certain external interest expense, certain foreign exchange gains and losses, pension and OPEB benefit costs excluding the service cost component, and net income attributable to noncontrolling interests.


		Three Months Ended								Nine Months Ended
		August 1			August 2			%		August 1			August 2			%
		2021			2020			Change		2021			2020			Change
Net sales and revenues:
Production & precision ag net sales		$	4,250		$	3,289		+29		$	11,848		$	9,161		+29
Small ag & turf net sales			3,147			2,383		+32			9,051			6,966		+30
Construction & forestry net sales			3,016			2,187		+38			8,562			6,485		+32
Financial services revenues			902			892		+1			2,679			2,699		-1
Other revenues			212			174		+22			557			498		+12
Total net sales and revenues		$	11,527		$	8,925		+29		$	32,697		$	25,809		+27
Operating profit:
Production & precision ag		$	906		$	605		+50		$	2,557		$	1,391		+84
Small ag & turf			583			337		+73			1,699			718		+137
Construction & forestry			463			205		+126			1,220			394		+210
Financial services			291			243		+20			844			498		+69
Total operating profit			2,243			1,390		+61			6,320			3,001		+111
Reconciling items			(85)			(122)		-30			(312)			(256)		+22
Income taxes			(491)			(457)		+7			(1,328)			(752)		+77
Net income attributable to Deere & Company		$	1,667		$	811		+106		$	4,680		$	1,993		+135

Intersegment sales and revenues:
Production & precision ag net sales		$	8		$	5		+60		$	21		$	18		+17
Small ag & turf net sales			2								9			2		+350
Construction & forestry net sales
Financial services revenues			61			59		+3			172			218		-21

Outside the U.S. and Canada:
Net sales and revenues		$	4,762		$	3,765		+26		$	13,560		$	10,189		+33
Operating profit			931			577		+61			2,565			1,109		+131

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.


		August 1			November 1			August 2
		2021			2020			2020
Identifiable assets:
Production & precision ag		$	6,910		$	5,708		$	6,172
Small ag & turf			3,643			3,266			3,376
Construction & forestry			6,378			6,322			6,697
Financial services			51,647			48,719			48,869
Corporate			12,110			11,076			12,150
Total assets		$	80,688		$	75,091		$	77,264