SEGMENT REPORTING (Tables)

9 Months Ended

Jul. 30, 2023

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:

	Three Months Ended					Nine Months Ended
	July 30		July 31		%	July 30		July 31		%
	2023		2022		Change	2023		2022		Change
Net sales and revenues:
Production & precision ag net sales	$	6,806	$	6,096	+12	$	19,826	$	14,568	+36
Small ag & turf net sales		3,739		3,635	+3		10,886		9,836	+11
Construction & forestry net sales		3,739		3,269	+14		11,053		9,161	+21
Financial services revenues		1,228		903	+36		3,375		2,637	+28
Other revenues		289		199	+45		699		839	-17
Total net sales and revenues	$	15,801	$	14,102	+12	$	45,839	$	37,041	+24
Operating profit:
Production & precision ag	$	1,782	$	1,293	+38	$	5,160	$	2,646	+95
Small ag & turf		732		552	+33		2,028		1,443	+41
Construction & forestry		716		514	+39		2,179		1,599	+36
Financial services		286		287			565		864	-35
Total operating profit		3,516		2,646	+33		9,932		6,552	+52
Reconciling items		98		(108)			29		(303)
Income taxes		(636)		(654)	-3		(2,164)		(1,364)	+59
Net income attributable to Deere & Company	$	2,978	$	1,884	+58	$	7,797	$	4,885	+60
Intersegment sales and revenues:
Production & precision ag net sales	$	9	$	5	+80	$	21	$	15	+40
Small ag & turf net sales		2		2			10		8	+25
Construction & forestry net sales
Financial services revenues		217		81	+168		612		214	+186

Operating profit for production and precision ag, small ag and turf, and construction and forestry is income from continuing operations before reconciling items and income taxes. Operating profit for financial services includes the effect of interest expense and foreign exchange gains and losses. Reconciling items to net income are primarily corporate expenses, certain interest income and expenses, certain foreign exchange gains and losses, pension and OPEB benefit amounts excluding the service cost component, equity in income of unconsolidated affiliates, and net income attributable to noncontrolling interests.

Identifiable assets were as follows in millions of dollars:
	July 30		October 30		July 31
	2023		2022		2022
Production & precision ag	$	9,523	$	8,414	$	8,728
Small ag & turf		4,482		4,451		4,361
Construction & forestry		7,415		6,754		6,824
Financial services		68,850		58,864		56,008
Corporate		13,127		11,547		10,896
Total assets	$	103,397	$	90,030	$	86,817