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GOODWILL AND OTHER INTANGIBLE ASSETS-NET | 3 Months Ended
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Jan. 29, 2023
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 segment were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Production & Precision Ag | ​ | Small Ag & Turf | ​ | Construction & Forestry | ​ | Total |
Goodwill at October 31, 2021 | ​ | $ | 542 | ​ | $ | 265 | ​ | $ | 2,484 | ​ | $ | 3,291 | ​
Acquisition | ​ | ​ | 7 | ​ | ​ | 7 | ​ | ​ | 4 | ​ | ​ | 18 | ​
Translation adjustments | ​ |  | (5) | ​ | ​ | (2) | ​ | ​ | (110) | ​ |  | (117) | ​
Goodwill at January 30, 2022 | ​ | $ | 544 | ​ | $ | 270 | ​ | $ | 2,378 | ​ | $ | 3,192 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill at October 30, 2022 | ​ | $ | 646 | ​ | $ | 318 | ​ | $ | 2,723 | ​ | $ | 3,687 | ​
Translation adjustments | ​ | ​ | 15 | ​ | ​ | 7 | ​ | ​ | 182 | ​ | ​ | 204 | ​
Goodwill at January 29, 2023 | ​ | $ | 661 | ​ | $ | 325 | ​ | $ | 2,905 | ​ | $ | 3,891 | ​
There were no accumulated goodwill impairment losses in the reported periods. The components of other intangible assets were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | January 29 |  | October 30 |  | January 30 |
​ | ​ | 2023 | ​ | 2022 | ​ | 2022 |
Amortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer lists and relationships |  | $ | 522 | ​ | $ | 493 | ​ | $ | 526 | ​
Technology, patents, trademarks, and other | ​ | ​ | 1,387 | ​ |  | 1,301 | ​ |  | 1,066 | ​
Total at cost | ​ | ​ | 1,909 | ​ |  | 1,794 | ​ |  | 1,592 | ​
Less accumulated amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer lists and relationships | ​ | ​ | 184 | ​ | ​ | 166 | ​ | ​ | 156 | ​
Technology, patents, trademarks, and other | ​ | ​ | 470 | ​ | ​ | 410 | ​ | ​ | 350 | ​
Total accumulated amortization | ​ | ​ | 654 | ​ | ​ | 576 | ​ | ​ | 506 | ​
Amortized intangible assets | ​ | ​ | 1,255 | ​ | ​ | 1,218 | ​ | ​ | 1,086 | ​
Unamortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
In-process research and development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 123 | ​
Other intangible assets – net |  | $ | 1,255 | ​ | $ | 1,218 | ​ | $ | 1,209 | ​
​ 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 first quarter of 2023 and 2022 was $39 million and $28 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2023 – $132, 2024 – $167, 2025 – $139, 2026 – $119, 2027 – $118, and 2028 – $86.

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- 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 https://asc.fasb.org/topic&trid=2144416 + Details
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