XML 36 R18.htm IDEA: XBRL DOCUMENT
v3.22.1

GOODWILL AND OTHER INTANGIBLE ASSETS-NET | 6 Months Ended
--- | ---
May 01, 2022
GOODWILL AND OTHER INTANGIBLE ASSETS-NET |
GOODWILL AND OTHER INTANGIBLE ASSETS-NET | (11) 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 1, 2020 | ​ | $ | 333 | ​ | $ | 268 | ​ | $ | 2,480 | ​ | $ | 3,081 | ​
Acquisition | ​ |  | 12 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 12 | ​
Translation adjustments | ​ |  | 10 | ​ | ​ | (2) | ​ | ​ | 89 | ​ | ​ | 97 | ​
Goodwill at May 2, 2021 | ​ | $ | 355 | ​ | $ | 266 | ​ | $ | 2,569 | ​ | $ | 3,190 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill at October 31, 2021 | ​ | $ | 542 | ​ | $ | 265 | ​ | $ | 2,484 | ​ | $ | 3,291 | ​
Acquisitions | ​ | ​ | 122 | ​ | ​ | 69 | ​ | ​ | 600 | ​ | ​ | 791 | ​
Translation adjustments | ​ | ​ | (11) | ​ | ​ | (7) | ​ | ​ | (252) | ​ | ​ | (270) | ​
Goodwill at May 1, 2022 | ​ | $ | 653 | ​ | $ | 327 | ​ | $ | 2,832 | ​ | $ | 3,812 | ​
There were no accumulated goodwill impairment losses in the reported periods. The components of other intangible assets were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | May 1 |  | October 31 |  | May 2 |
​ | ​ | 2022 | ​ | 2021 | ​ | 2021 |
Amortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer lists and relationships | ​ | $ | 520 | ​ | $ | 542 | ​ | $ | 549 | ​
Technology, patents, trademarks, and other | ​ | ​ | 1,350 | ​ |  | 1,104 | ​ |  | 1,097 | ​
Total at cost | ​ | ​ | 1,870 | ​ |  | 1,646 | ​ |  | 1,646 | ​
Less accumulated amortization: | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​
Customer lists and relationships | ​ | ​ | 158 | ​ | ​ | 151 | ​ | ​ | 136 | ​
Technology, patents, trademarks, and other | ​ | ​ | 360 | ​ | ​ | 343 | ​ | ​ | 323 | ​
Total accumulated amortization | ​ | ​ | 518 | ​ | ​ | 494 | ​ | ​ | 459 | ​
Amortized intangible assets, net | ​ | ​ | 1,352 | ​ | ​ | 1,152 | ​ | ​ | 1,187 | ​
Unamortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
In-process research and development | ​ | ​ | ​ | ​ | ​ | 123 | ​ | ​ | 123 | ​
Other intangible assets – net | ​ | $ | 1,352 | ​ | $ | 1,275 | ​ | $ | 1,310 | ​
​ In September 2017, the Company acquired Blue River Technology’s in-process research and development related to machine learning technology to optimize the use of farm inputs. Those research and development activities were completed, and the Company started amortizing the acquired technology in the second quarter of 2022. The amortization of other intangible assets in the second quarter and the first six months of 2022 was $34 million and $62 million, and for 2021 was $27 million and $62 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2022 – $107, 2023 – $167, 2024 – $163, 2025 – $135, 2026 – $116, and 2027 – $114.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration