SEGMENT DATA (Tables)

12 Months Ended

Oct. 29, 2023

SEGMENT DATA

Schedule of Segment Reporting Information

Information relating to operations by operating segment follows for the years ended October 29, 2023, October 30, 2022, and October 31, 2021.

OPERATING SEGMENTS	2023		2022		2021
Net sales and revenues
Unaffiliated customers:
Production & precision ag net sales	$	26,790	$	22,002	$	16,509
Small ag & turf net sales		13,980		13,381		11,860
Construction & forestry net sales		14,795		12,534		11,368
Financial services revenues		4,721		3,625		3,548
Other revenues*		965		1,035		739
Total	$	61,251	$	52,577	$	44,024

*    Other revenues are primarily the production and precision ag, small ag and turf, and construction and forestry revenues for finance and interest income and other income.

Operating profit
Production & precision ag	$	6,996	$	4,386	$	3,334
Small ag & turf		2,472		1,949		2,045
Construction & forestry		2,695		2,014		1,489
Financial services*		795		1,159		1,144
Total operating profit*		12,958		9,508		8,012
Interest income		559		159		82
Interest expense		(411)		(390)		(368)
Foreign exchange gain (loss) from equipment operations’ financing activities		(114)		(103)		(45)
Pension and OPEB benefit (cost), excluding service cost component		286		218		183
Corporate expenses – net		(252)		(255)		(241)
Income taxes		(2,871)		(2,007)		(1,658)
Total		(2,803)		(2,378)		(2,047)
Net income		10,155		7,130		5,965
Less: Net income (loss) attributable to noncontrolling interests		(11)		(1)		2
Net income attributable to Deere & Company	$	10,166	$	7,131	$	5,963

*    Operating profit of the financial services business segment includes the effect of its interest expense and foreign exchange gains or losses.

OPERATING SEGMENTS	2023		2022		2021
Interest income*
Production & precision ag	$	29	$	22	$	21
Small ag & turf		35		24		21
Construction & forestry		13		8		10
Financial services		3,731		2,245		1,999
Corporate		559		159		82
Intercompany		(1,008)		(431)		(279)
Total	$	3,359	$	2,027	$	1,854

*    Does not include finance rental income for equipment on operating leases.

Interest expense
Production & precision ag	$	282	$	122	$	84
Small ag & turf		236		105		87
Construction & forestry		169		72		46
Financial services		2,362		799		687
Corporate		411		390		368
Intercompany		(1,007)		(426)		(279)
Total	$	2,453	$	1,062	$	993
Depreciation* and amortization expense
Production & precision ag	$	581	$	523	$	495
Small ag & turf		241		236		245
Construction & forestry		301		282		303
Financial services		1,016		1,050		1,140
Intercompany		(135)		(196)		(133)
Total	$	2,004	$	1,895	$	2,050

*    Includes depreciation for equipment on operating leases.

Identifiable operating assets
Production & precision ag	$	8,734	$	8,414	$	7,021
Small ag & turf		4,348		4,451		3,959
Construction & forestry		7,139		6,754		6,457
Financial services		70,732		58,864		51,624
Corporate		13,134		11,547		15,053
Total	$	104,087	$	90,030	$	84,114

Capital additions
Production & precision ag	$	896	$	649	$	458
Small ag & turf		386		329		253
Construction & forestry		311		217		183
Financial services		4		2		3
Total	$	1,597	$	1,197	$	897