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SEGMENT REPORTING

3 Months Ended

Jan. 29, 2023

SEGMENT REPORTING

SEGMENT REPORTING

(7)  Segment Reporting

Worldwide Net sales and revenues, operating profit, and identifiable assets by segment were as follows in millions of dollars.

​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended
	​	January 29		​	January 30		​	%
​		2023			2022			Change
Net sales and revenues:		​			​				​
Production & precision ag net sales		$	5,198	​	$	3,356	​	+55	​
Small ag & turf net sales	​	​	3,001	​	​	2,631	​	+14	​
Construction & forestry net sales	​	​	3,203	​		2,544	​	+26	​
Financial services revenues	​	​	1,040	​		870	​	+20	​
Other revenues	​	​	210	​		168	​	+25	​
Total net sales and revenues		$	12,652	​	$	9,569	​	+32	​
Operating profit:	​	​	​	​	​	​	​	​	​
Production & precision ag		$	1,208	​	$	296	​	+308	​
Small ag & turf	​	​	447	​	​	371	​	+20	​
Construction & forestry	​	​	625	​		272	​	+130	​
Financial services	​	​	238	​		296	​	-20	​
Total operating profit	​	​	2,518	​		1,235	​	+104	​
Reconciling items	​	​	(22)	​		(82)	​	-73	​
Income taxes	​	​	(537)	​		(250)	​	+115	​
Net income attributable to Deere & Company		$	1,959	​	$	903	​	+117	​
​	​	​	​	​	​	​	​	​	​
Intersegment sales and revenues:	​	​	​	​	​	​	​	​	​
Production & precision ag net sales		$	5	​	$	4	​	+25	​
Small ag & turf net sales	​	​	3	​	​	2	​	+50	​
Construction & forestry net sales	​	​	​	​	​	​	​	​	​
Financial services revenues	​	​	204	​		46	​	+343	​

Operating profit for production and precision ag, small ag and turf, and construction and forestry 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 expenses, certain foreign exchange gains and losses, pension and OPEB benefit amounts excluding the service cost component, and net income attributable to noncontrolling interests.

​	​	​	​	​	​	​	​	​	​	​
​		January 29			October 30			January 30
​	​	2023		​	2022		​	2022
Identifiable assets:	​	​	​	​	​	​	​	​	​	​
Production & precision ag		$	9,393	​	$	8,414	​	$	7,683	​
Small ag & turf	​	​	4,893	​	​	4,451	​	​	4,260	​
Construction & forestry	​	​	7,232	​		6,754	​		6,358	​
Financial services	​	​	59,721	​		58,864	​		50,499	​
Corporate	​	​	10,381	​		11,547	​		10,814	​
Total assets		$	91,620	​	$	90,030	​	$	79,614	​

​

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

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-Name Accounting Standards Codification
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