SEGMENT REPORTING (Tables)

6 Months Ended

May 02, 2021

SEGMENT REPORTING

Schedule of Segment Reporting Information

Worldwide net sales and revenues, operating profit, and identifiable assets by segment were as follows in millions of dollars. 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 to net income are primarily corporate expenses, certain external interest expense, certain foreign exchange gains and losses, pension and OPEB benefit costs excluding the service cost component, and net income attributable to noncontrolling interests.

	Three Months Ended					Six Months Ended
	May 2		May 3		%	May 2		May 3		%
	2021		2020		Change	2021		2020		Change
Net sales and revenues:
Production & precision ag net sales	$	4,529	$	3,365	+35	$	7,599	$	5,872	+29
Small ag & turf net sales		3,390		2,603	+30		5,904		4,583	+29
Construction & forestry net sales		3,079		2,256	+36		5,546		4,299	+29
Financial services revenues		892		875	+2		1,776		1,806	-2
Other revenues		168		154	+9		345		324	+6
Total net sales and revenues	$	12,058	$	9,253	+30	$	21,170	$	16,884	+25
Operating profit:
Production & precision ag	$	1,007	$	568	+77	$	1,651	$	786	+110
Small ag & turf		648		226	+187		1,117		381	+193
Construction & forestry		489		96	+409		756		189	+300
Financial services		295		75	+293		553		254	+118
Total operating profit		2,439		965	+153		4,077		1,610	+153
Reconciling items		(119)		(54)	+120		(226)		(133)	+70
Income taxes		(530)		(245)	+116		(838)		(295)	+184
Net income attributable to Deere & Company	$	1,790	$	666	+169	$	3,013	$	1,182	+155
Intersegment sales and revenues:
Production & precision ag net sales	$	7	$	7		$	13	$	14	-7
Small ag & turf net sales		4		1	+300		8		1	+700
Construction & forestry net sales
Financial services		62		93	-33		112		159	-30
Outside the U.S. and Canada:
Net sales and revenues	$	5,051	$	3,422	+48	$	8,798	$	6,424	+37
Operating profit		1,003		232	+332		1,633		533	+206

At the beginning of fiscal year 2021, the Company reclassified goodwill from identifiable operating segment assets to corporate assets for segment reporting, as goodwill is no longer considered in evaluating the operating performance of the segments. Prior period amounts have been restated for a consistent presentation.

	May 2		November 1		May 3
	2021		2020		2020
Identifiable assets:
Production & precision ag	$	6,602	$	5,708	$	6,328
Small ag & turf		3,605		3,266		3,485
Construction & forestry		6,500		6,322		6,984
Financial services		50,849		48,719		48,664
Corporate		11,423		11,076		11,865
Total assets	$	78,979	$	75,091	$	77,326