GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Jul. 30, 2023

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

(11)  Goodwill and Other Intangible Assets

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

	Production &		Small Ag		Construction
	Precision Ag		& Turf		& Forestry		Total
Goodwill at October 31, 2021	$	542	$	265	$	2,484	$	3,291
Acquisitions		132		69		597		798
Translation adjustments		(23)		(11)		(301)		(335)
Goodwill at July 31, 2022	$	651	$	323	$	2,780	$	3,754
Goodwill at October 30, 2022	$	646	$	318	$	2,723	$	3,687
Acquisitions		41		39				80
Translation adjustments		23		8		196		227
Goodwill at July 30, 2023	$	710	$	365	$	2,919	$	3,994

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

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

	July 30		October 30		July 31
	2023		2022		2022
Amortized intangible assets:
Customer lists and relationships	$	524	$	493	$	507
Technology, patents, trademarks, and other		1,415		1,301		1,320
Total at cost		1,939		1,794		1,827
Less accumulated amortization:
Customer lists and relationships		201		166		162
Technology, patents, trademarks, and other		539		410		384
Total accumulated amortization		740		576		546
Other intangible assets – net	$	1,199	$	1,218	$	1,281

The amortization of other intangible assets in the third quarter and the first nine months of 2023 was $42 million and $126 million, and for the third quarter and the first nine months of 2022 was $42 million and $104 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2023 – $57, 2024 – $179, 2025 – $147, 2026 – $122, 2027 – $120, and 2028 – $88.