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SEGMENT DATA (Tables) | 12 Months Ended
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Oct. 29, 2023
SEGMENT DATA |
Schedule of Segment Reporting Information | Information relating to operations by operating segment follows for the years ended October 29, 2023, October 30, 2022, and October 31, 2021. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING SEGMENTS | ​ | 2023 |  | 2022 |  | 2021 |
Net sales and revenues |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Unaffiliated customers: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Production & precision ag net sales | ​ | $ | 26,790 | ​ | $ | 22,002 | ​ | $ | 16,509 | ​
Small ag & turf net sales | ​ | ​ | 13,980 | ​ | ​ | 13,381 | ​ | ​ | 11,860 | ​
Construction & forestry net sales | ​ |  | 14,795 | ​ |  | 12,534 | ​ |  | 11,368 | ​
Financial services revenues | ​ |  | 4,721 | ​ |  | 3,625 | ​ |  | 3,548 | ​
Other revenues* | ​ |  | 965 | ​ |  | 1,035 | ​ |  | 739 | ​
Total | ​ | $ | 61,251 | ​ | $ | 52,577 | ​ | $ | 44,024 | ​
* Other revenues are primarily the production and precision ag, small ag and turf, and construction and forestry revenues for finance and interest income and other income. ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating profit |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 6,996 | ​ | $ | 4,386 | ​ | $ | 3,334 | ​
Small ag & turf | ​ | ​ | 2,472 | ​ | ​ | 1,949 | ​ | ​ | 2,045 | ​
Construction & forestry | ​ |  | 2,695 | ​ |  | 2,014 | ​ |  | 1,489 | ​
Financial services* | ​ |  | 795 | ​ |  | 1,159 | ​ |  | 1,144 | ​
Total operating profit* | ​ |  | 12,958 | ​ |  | 9,508 | ​ |  | 8,012 | ​
Interest income | ​ |  | 559 | ​ |  | 159 | ​ |  | 82 | ​
Interest expense | ​ |  | (411) | ​ |  | (390) | ​ |  | (368) | ​
Foreign exchange gain (loss) from equipment operations’ financing activities | ​ |  | (114) | ​ |  | (103) | ​ |  | (45) | ​
Pension and OPEB benefit (cost), excluding service cost component | ​ | ​ | 286 | ​ | ​ | 218 | ​ | ​ | 183 | ​
Corporate expenses – net | ​ |  | (252) | ​ |  | (255) | ​ |  | (241) | ​
Income taxes | ​ |  | (2,871) | ​ |  | (2,007) | ​ |  | (1,658) | ​
Total | ​ |  | (2,803) | ​ |  | (2,378) | ​ |  | (2,047) | ​
Net income | ​ |  | 10,155 | ​ |  | 7,130 | ​ |  | 5,965 | ​
Less: Net income (loss) attributable to noncontrolling interests | ​ |  | (11) | ​ | ​ | (1) | ​ | ​ | 2 | ​
Net income attributable to Deere & Company | ​ | $ | 10,166 | ​ | $ | 7,131 | ​ | $ | 5,963 | ​
* Operating profit of the financial services business segment includes the effect of its interest expense and foreign exchange gains or losses. ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING SEGMENTS |  | 2023 |  | 2022 |  | 2021 |
Interest income* |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 29 | ​ | $ | 22 | ​ | $ | 21 | ​
Small ag & turf | ​ | ​ | 35 | ​ | ​ | 24 | ​ | ​ | 21 | ​
Construction & forestry | ​ |  | 13 | ​ |  | 8 | ​ |  | 10 | ​
Financial services | ​ |  | 3,731 | ​ |  | 2,245 | ​ |  | 1,999 | ​
Corporate | ​ |  | 559 | ​ |  | 159 | ​ |  | 82 | ​
Intercompany | ​ |  | (1,008) | ​ |  | (431) | ​ |  | (279) | ​
Total | ​ | $ | 3,359 | ​ | $ | 2,027 | ​ | $ | 1,854 | ​
* Does not include finance rental income for equipment on operating leases. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 282 | ​ | $ | 122 | ​ | $ | 84 | ​
Small ag & turf | ​ | ​ | 236 | ​ | ​ | 105 | ​ | ​ | 87 | ​
Construction & forestry | ​ |  | 169 | ​ |  | 72 | ​ |  | 46 | ​
Financial services | ​ |  | 2,362 | ​ |  | 799 | ​ |  | 687 | ​
Corporate | ​ |  | 411 | ​ |  | 390 | ​ |  | 368 | ​
Intercompany | ​ |  | (1,007) | ​ |  | (426) | ​ |  | (279) | ​
Total | ​ | $ | 2,453 | ​ | $ | 1,062 | ​ | $ | 993 | ​
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation* and amortization expense |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 581 | ​ | $ | 523 | ​ | $ | 495 | ​
Small ag & turf | ​ | ​ | 241 | ​ | ​ | 236 | ​ | ​ | 245 | ​
Construction & forestry | ​ |  | 301 | ​ |  | 282 | ​ |  | 303 | ​
Financial services | ​ |  | 1,016 | ​ |  | 1,050 | ​ |  | 1,140 | ​
Intercompany | ​ | ​ | (135) | ​ | ​ | (196) | ​ | ​ | (133) | ​
Total | ​ | $ | 2,004 | ​ | $ | 1,895 | ​ | $ | 2,050 | ​
* Includes depreciation for equipment on operating leases. ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Identifiable operating assets |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 8,734 | ​ | $ | 8,414 | ​ | $ | 7,021 | ​
Small ag & turf | ​ | ​ | 4,348 | ​ | ​ | 4,451 | ​ | ​ | 3,959 | ​
Construction & forestry | ​ |  | 7,139 | ​ |  | 6,754 | ​ |  | 6,457 | ​
Financial services | ​ |  | 70,732 | ​ |  | 58,864 | ​ |  | 51,624 | ​
Corporate | ​ |  | 13,134 | ​ |  | 11,547 | ​ |  | 15,053 | ​
Total | ​ | $ | 104,087 | ​ | $ | 90,030 | ​ | $ | 84,114 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital additions |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Production & precision ag | ​ | $ | 896 | ​ | $ | 649 | ​ | $ | 458 | ​
Small ag & turf | ​ | ​ | 386 | ​ | ​ | 329 | ​ | ​ | 253 | ​
Construction & forestry | ​ |  | 311 | ​ |  | 217 | ​ |  | 183 | ​
Financial services | ​ |  | 4 | ​ |  | 2 | ​ |  | 3 | ​
Total | ​ | $ | 1,597 | ​ | $ | 1,197 | ​ | $ | 897 | ​
​

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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