SEGMENT REPORTING

6 Months Ended

May 03, 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					Six Months Ended
	May 3		April 28		%	May 3		April 28		%
	2020		2019		Change	2020		2019		Change
Net sales and revenues:
Agriculture and turf	$	5,968	$	7,282	-18	$	10,455	$	11,963	-13
Construction and forestry		2,256		2,991	-25		4,299		5,251	-18
Total net sales		8,224		10,273	-20		14,754		17,214	-14
Financial services		875		886	-1		1,806		1,741	+4
Other revenues		154		183	-16		324		371	-13
Total net sales and revenues	$	9,253	$	11,342	-18	$	16,884	$	19,326	-13
Operating profit: *
Agriculture and turf	$	794	$	1,019	-22	$	1,167	$	1,367	-15
Construction and forestry		96		347	-72		189		576	-67
Financial services		75		170	-56		254		362	-30
Total operating profit		965		1,536	-37		1,610		2,305	-30
Reconciling items **		(54)		(58)	-7		(133)		(144)	-8
Income taxes		(245)		(343)	-29		(295)		(528)	-44
Net income attributable to Deere & Company	$	666	$	1,135	-41	$	1,182	$	1,633	-28
Intersegment sales and revenues:
Agriculture and turf net sales	$	8	$	10	-20	$	15	$	18	-17
Construction and forestry net sales									1
Financial services		93		96	-3		159		168	-5
Equipment operations outside the U.S. and Canada:
Net sales	$	3,226	$	4,141	-22	$	6,006	$	6,959	-14
Operating profit		184		482	-62		408		658	-38

	May 3		November 3
	2020		2019
Identifiable assets:
Agriculture and turf	$	10,378	$	10,379
Construction and forestry		9,336		9,387	-1
Financial services		48,664		48,483
Corporate		8,948		4,762	+88
Total assets	$	77,326	$	73,011	+6

* 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.