GOODWILL AND OTHER INTANGIBLE ASSETS-NET

12 Months Ended

Nov. 01, 2020

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

17. GOODWILL AND OTHER INTANGIBLE ASSETS – NET

The changes in amounts of goodwill by operating segments were as follows in millions of dollars:

	Agriculture		Construction
	and		and
	Turf		Forestry		Total
Goodwill at October 28, 2018	$	583	$	2,518	$	3,101
Divestitures*				(22)		(22)
Translation adjustments and other		(9)		(153)		(162)
Goodwill at November 3, 2019		574		2,343		2,917
Acquisition*		28				28
Translation adjustments and other		(1)		137		136
Goodwill at November 1, 2020	$	601	$	2,480	$	3,081

*    See Note 4.

There were no accumulated goodwill impairment losses in the reported periods.

The components of other intangible assets are as follows in millions of dollars:

	2020		2019
Amortized intangible assets:
Customer lists and relationships	$	535	$	511
Technology, patents, trademarks, and other		1,056		1,028
Total at cost		1,591		1,539
Less accumulated amortization*		387		282
Total		1,204		1,257
Unamortized intangible assets:
In-process research and development		123		123
Other intangible assets - net	$	1,327	$	1,380

*  Accumulated amortization at 2020 and 2019 for customer lists and relationships was $113 million and $77 million and technology, patents, trademarks, and other was $274 million and $205 million, respectively.

Other intangible assets are stated at cost less accumulated amortization. The amortization of other intangible assets in 2020, 2019, and 2018 was $102 million, $109 million, and $100 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: 2021 - $105, 2022 - $105, 2023 - $103, 2024 - $99, and 2025 - $96.