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GOODWILL AND OTHER INTANGIBLE ASSETS-NET | 6 Months Ended
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Apr. 30, 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 segments were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Production & |  | Small Ag |  | Construction |  | ​ | ​ |
​ | ​ | Precision Ag | ​ | & Turf | ​ | & Forestry | ​ | Total |
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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill at October 30, 2022 | ​ | $ | 646 | ​ | $ | 318 | ​ | $ | 2,723 | ​ | $ | 3,687 | ​
Acquisition | ​ | ​ | 41 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 41 | ​
Translation adjustments | ​ | ​ | 18 | ​ | ​ | 8 | ​ | ​ | 209 | ​ | ​ | 235 | ​
Goodwill at April 30, 2023 | ​ | $ | 705 | ​ | $ | 326 | ​ | $ | 2,932 | ​ | $ | 3,963 | ​
There were no accumulated goodwill impairment losses in the reported periods. The components of other intangible assets were as follows in millions of dollars:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | April 30 |  | October 30 |  | May 1 |
​ | ​ | 2023 | ​ | 2022 | ​ | 2022 |
Amortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer lists and relationships | ​ | $ | 525 | ​ | $ | 493 | ​ | $ | 520 | ​
Technology, patents, trademarks, and other | ​ | ​ | 1,397 | ​ |  | 1,301 | ​ |  | 1,350 | ​
Total at cost | ​ | ​ | 1,922 | ​ |  | 1,794 | ​ |  | 1,870 | ​
Less accumulated amortization: | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​
Customer lists and relationships | ​ | ​ | 193 | ​ | ​ | 166 | ​ | ​ | 158 | ​
Technology, patents, trademarks, and other | ​ | ​ | 507 | ​ | ​ | 410 | ​ | ​ | 360 | ​
Total accumulated amortization | ​ | ​ | 700 | ​ | ​ | 576 | ​ | ​ | 518 | ​
Other intangible assets – net | ​ | $ | 1,222 | ​ | $ | 1,218 | ​ | $ | 1,352 | ​
​ The amortization of other intangible assets in the second quarter and the first six months of 2023 was $45 million and $84 million, and for the second quarter and the first six months of 2022 was $34 million and $62 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2023 – $88, 2024 – $168, 2025 – $139, 2026 – $120, 2027 – $119, 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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