Unconsolidated Affiliated Company

12 Months Ended

Oct. 30, 2022

Unconsolidated Affiliated Company

Unconsolidated Affiliated Company

Note 23. 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 sheets under “Investment in unconsolidated affiliate.”

Summarized financial information of the unconsolidated affiliated company for the relevant fiscal years was as follows (in millions of dollars):

	2022		2021		2020
Operations:
Total revenue	$	17.7	$	16.6	$	13.4
Net income		9.0		5.9		4.4
The Company’s equity in net income		4.5		3.0		2.2

	2022		2021
Financial Position:
Total assets	$	496.3	$	416.1
Total external borrowings		449.3		364.6
Total net assets		45.2		43.8
The Company’s share of net assets		22.6		21.9