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Unconsolidated Affiliated Company

12 Months Ended

Nov. 01, 2020

Note 24. Unconsolidated Affiliated Company

The Company’s investment in an unconsolidated affiliated company consists of a 50 percent ownership in John Deere Financial S.A.S., a joint venture in France that primarily offers loans and leases to customers. The Company does not control the joint venture and accounts for its investment in the joint venture on the equity basis. The Company’s share of the income or loss of this joint venture is reported in the consolidated income statement under “Equity in income of unconsolidated affiliate.” The investment in this joint venture is reported in the consolidated balance sheet under “Investment in unconsolidated affiliate.”

Summarized financial information of the unconsolidated affiliated company for the years ended November 1, 2020, November 3, 2019, and October 28, 2018 was as follows (in millions of dollars):


	2020		2019		2018
Operations:
Total revenue	$	13.4	$	12.4	$	11.7
Net income		4.4		3.6		3.9
The Company’s equity in net income		2.2		1.8		1.9


	2020		2019
Financial Position:
Total assets	$	327.1	$	258.1
Total external borrowings		285.2		221.0
Total net assets		38.5		32.9
The Company’s share of net assets		19.3		16.4