SEGMENT REPORTING

3 Months Ended

Feb. 02, 2020

SEGMENT REPORTING

SEGMENT REPORTING

(10)  Segment Reporting

Worldwide net sales and revenues, operating profit, and identifiable assets by segment in millions of dollars follow:

	Three Months Ended
	February 2		January 27		%
	2020		2019		Change
Net sales and revenues:
Agriculture and turf	$	4,486	$	4,681	-4
Construction and forestry		2,044		2,260	-10
Total net sales		6,530		6,941	-6
Financial services		931		855	+9
Other revenues		170		188	-10
Total net sales and revenues	$	7,631	$	7,984	-4
Operating profit: *
Agriculture and turf	$	373	$	348	+7
Construction and forestry		93		229	-59
Financial services		179		192	-7
Total operating profit		645		769	-16
Reconciling items **		(78)		(87)	-10
Income taxes		(50)		(184)	-73
Net income attributable to Deere & Company	$	517	$	498	+4
Intersegment sales and revenues:
Agriculture and turf net sales	$	7	$	9	-22
Construction and forestry net sales				1
Financial services		67		72	-7
Equipment operations outside the U.S. and Canada:
Net sales	$	2,780	$	2,818	-1
Operating profit		225		176	+28

	February 2		November 3
	2020		2019
Identifiable assets:
Agriculture and turf	$	10,817	$	10,379	+4
Construction and forestry		9,376		9,387
Financial services		47,279		48,483	-2
Corporate		4,349		4,762	-9
Total assets	$	71,821	$	73,011	-2

* Operating profit is income from continuing operations before corporate expenses, certain external interest expense, certain foreign exchange gains and losses, and income taxes. Operating profit of the financial services segment includes the effect of interest expense and foreign exchange gains and losses.

** Reconciling items are primarily corporate expenses, certain external interest expense, certain foreign exchange gains and losses, pension and postretirement benefit costs excluding the service cost component, and net income attributable to noncontrolling interests.