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SEGMENT REPORTING (Tables) | 6 Months Ended
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May 01, 2022
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:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended |
| ​ | May 1 | ​ | May 2 | ​ | % | ​ | May 1 | ​ | May 2 | ​ | % |
​ | ​ | 2022 | ​ | 2021 | ​ | Change | ​ | 2022 | ​ | 2021 | ​ | Change |
Net sales and revenues: |  | ​ |  |  | ​ |  |  |  |  | ​ | ​ |  | ​ |  |  |  | ​
Production & precision ag net sales |  | $ | 5,117 | ​ | $ | 4,529 | ​ | +13 |  | $ | 8,473 | ​ | $ | 7,599 | ​ | +12 | ​
Small ag & turf net sales | ​ | ​ | 3,570 | ​ | ​ | 3,390 | ​ | +5 | ​ | ​ | 6,201 | ​ | ​ | 5,904 | ​ | +5 | ​
Construction & forestry net sales | ​ | ​ | 3,347 | ​ |  | 3,079 | ​ | +9 | ​ | ​ | 5,891 | ​ |  | 5,546 | ​ | +6 | ​
Financial services revenues | ​ | ​ | 864 | ​ |  | 892 | ​ | -3 | ​ | ​ | 1,734 | ​ |  | 1,776 | ​ | -2 | ​
Other revenues | ​ | ​ | 472 | ​ |  | 168 | ​ | +181 | ​ | ​ | 640 | ​ |  | 345 | ​ | +86 | ​
Total net sales and revenues |  | $ | 13,370 | ​ | $ | 12,058 | ​ | +11 |  | $ | 22,939 | ​ | $ | 21,170 | ​ | +8 | ​
Operating profit: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Production & precision ag |  | $ | 1,057 | ​ | $ | 1,007 | ​ | +5 |  | $ | 1,353 | ​ | $ | 1,651 | ​ | -18 | ​
Small ag & turf | ​ | ​ | 520 | ​ | ​ | 648 | ​ | -20 | ​ | ​ | 891 | ​ | ​ | 1,117 | ​ | -20 | ​
Construction & forestry | ​ | ​ | 814 | ​ |  | 489 | ​ | +66 | ​ | ​ | 1,085 | ​ |  | 756 | ​ | +44 | ​
Financial services | ​ | ​ | 279 | ​ |  | 295 | ​ | -5 | ​ | ​ | 577 | ​ |  | 553 | ​ | +4 | ​
Total operating profit | ​ | ​ | 2,670 | ​ |  | 2,439 | ​ | +9 | ​ | ​ | 3,906 | ​ |  | 4,077 | ​ | -4 | ​
Reconciling items | ​ | ​ | (111) | ​ |  | (119) | ​ | -7 | ​ | ​ | (195) | ​ |  | (226) | ​ | -14 | ​
Income taxes | ​ | ​ | (461) | ​ |  | (530) | ​ | -13 | ​ | ​ | (710) | ​ |  | (838) | ​ | -15 | ​
Net income attributable to Deere & Company |  | $ | 2,098 | ​ | $ | 1,790 | ​ | +17 |  | $ | 3,001 | ​ | $ | 3,013 | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Intersegment sales and revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Production & precision ag net sales |  | $ | 6 | ​ | $ | 7 | ​ | -14 |  | $ | 10 | ​ | $ | 13 | ​ | -23 | ​
Small ag & turf net sales | ​ | ​ | 4 | ​ | ​ | 4 | ​ | ​ | ​ | ​ | 6 | ​ | ​ | 8 | ​ | -25 | ​
Construction & forestry net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​
Financial services revenues | ​ | ​ | 87 | ​ |  | 62 | ​ | +40 | ​ | ​ | 133 | ​ |  | 112 | ​ | +19 | ​
​ Operating profit is income from continuing operations before reconciling items 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. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | May 1 |  | October 31 | ​ | May 2 |
​ | ​ | 2022 | ​ | 2021 | ​ | 2021 |
Identifiable assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Production & precision ag |  | $ | 8,680 | ​ | $ | 7,021 | ​ | $ | 6,602 | ​
Small ag & turf | ​ | ​ | 4,431 | ​ | ​ | 3,959 | ​ | ​ | 3,605 | ​
Construction & forestry | ​ | ​ | 6,984 | ​ |  | 6,457 | ​ |  | 6,500 | ​
Financial services | ​ | ​ | 53,110 | ​ |  | 51,624 | ​ |  | 50,849 | ​
Corporate | ​ | ​ | 10,894 | ​ |  | 15,053 | ​ |  | 11,423 | ​
Total assets |  | $ | 84,099 | ​ | $ | 84,114 | ​ | $ | 78,979 | ​

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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