Pay vs Performance Disclosure

12 Months Ended

Oct. 29, 2023

USD ($)

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Oct. 30, 2022

USD ($)

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Oct. 31, 2021

USD ($)

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Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

pay versus performance Disclosure

In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (PEO) and Non-PEO NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

Pay versus Performance

					Average		Average		Value of Initial
	Summary				Summary		Compensation		Fixed $100 Investment			Operating
	Compensation		Compensation		Compensation Table		Actually Paid		based on:(4)			Return on
Fiscal	Table Total		Actually Paid		Total for Non-PEO		to Non-PEO			Peer Group		Operating
Year	for PEO(1) ($)		to PEO(1)(2)(3) ($)		NEOs(1) ($)		NEOs(1)(2)(3) ($)		TSR ($)	TSR ($)	Net Income(5)	Assets(6)
2023	$	26,722,519	$	28,995,124	$	7,763,381	$	8,503,136	165.72	133.62	10,155	52.5	%
2022	$	20,300,151	$	38,631,080	$	5,243,700	$	8,863,842	179.84	128.81	7,130	39.8	%
2021	$	19,912,826	$	48,000,087	$	6,571,828	$	15,050,369	153.17	139.83	5,965	38.1	%

(1) Mr. May was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below.

2021	2022	2023
Ryan D. Campbell	Ryan D. Campbell	Ryan D. Campbell
Marc A. Howze	Marc A. Howze	Joshua A. Jepsen
Rajesh Kalathur	Joshua A. Jepsen	Cory J. Reed
Cory J. Reed	Mary K. W. Jones	Justin R. Rose
	Rajesh Kalathur
	Cory J. Reed

(2) Compensation Actually Paid amounts are calculated using the fair value or change in fair value, as applicable, of equity award adjustments in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.

(3) Compensation Actually Paid reflects adjustments made to total compensation amounts as reported in the Summary Compensation Table for the applicable year for the PEO and Non-PEO NEOs, as set forth below, computed in accordance with Item 402(v) of Regulation S-K. Equity values are calculated in accordance with FASB ASC Topic 718.

							Exclusion of
	Summary		Exclusion of		Inclusion of		Stock Awards
	Compensation		Change in		Pension Service		and Option		Inclusion of		Compensation
Fiscal	Table Total for		Pension Value for		Cost for		Awards for		Equity Values for		Actually Paid to
Year	John C. May(1) ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)
2023	$	26,722,519	$	(436,715)	$	313,488	$	(18,180,007)	$	20,575,839	$	28,995,124
2022	$	20,300,151	$	—	$	413,778	$	(11,234,238)	$	29,151,389	$	38,631,080
2021	$	19,912,826	$	(741,736)	$	384,230	$	(9,290,187)	$	37,734,954	$	48,000,087

	Average						Exclusion of
	Summary		Exclusion of		Inclusion of		Average Stock		Inclusion of		Average
	Compensation		Average Change in		Average Pension		Awards and Option		Average Equity		Compensation
Fiscal	Table Total for		Pension Value for		Service cost for		Awards for		Values for		Actually Paid to
Year	Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)
2023	$	7,763,381	$	(83,812)	$	86,951	$	(4,788,595)	$	5,525,211	$	8,503,136
2022	$	5,243,700	$	—	$	189,347	$	(1,924,893)	$	5,355,688	$	8,863,842
2021	$	6,571,828	$	(339,277)	$	232,162	$	(2,121,595)	$	10,707,251	$	15,050,369

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

	Inclusion of
	Year-End				Inclusion of
	Fair Value of				Vesting Date		Inclusion of		Exclusion of Prior
	Equity Awards		Inclusion of		Fair Value of		Change in Fair		Year-End Fair
	Granted During		Change in		Equity Awards		Value of Equity		Value of Equity		Inclusion of
	the Year That		Fair Value from		Granted During		Awards Granted		Awards Granted		Dividends or Other
	Remained		Last Day of Prior		the Year that		in Prior Years		in Prior Years		Earnings Paid on
	Unvested at		Year to		Vested During		that Vested in		that Failed to Vest		Equity Awards Not		Total - Inclusion
	Applicable		Applicable		the Applicable		the Applicable		in the Applicable		Otherwise		of Equity
Fiscal	Year-End for		Year-End for		Year for		Year for		Year for		Included for		Values for
Year	John C. May(1) ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)
2023	$	21,044,235	$	(3,635,148)	$	—	$	3,166,752	$	—	$	—	$	20,575,839
2022	$	19,417,988	$	8,756,697	$	—	$	976,704	$	—	$	—	$	29,151,389
2021	$	19,345,052	$	17,530,496	$	—	$	859,406	$	—	$	—	$	37,734,954

	Inclusion of
	Average Year-End				Inclusion of				Exclusion of
	Fair Value of				Average Vesting		Inclusion of		Average Prior
	Equity Awards		Inclusion of		Date Fair Value		Average Change in		Year-End Fair		Inclusion of
	Granted During		Average Change in		of Equity Awards		Fair Value of		Value of Equity		Average Dividends
	the Year That		Fair Value from		Granted During		Equity Awards		Awards Granted		or Other Earnings
	Remained		Last Day of Prior		the Year that		Granted in Prior		in Prior Years		Paid on Equity
	Unvested at		Year to		Vested During		Years that Vested		that Failed to Vest		Awards Not		Total - Average
	Applicable		Applicable		the Applicable		in the Applicable		in the Applicable		Otherwise		Inclusion of
Fiscal	Year-End for		Year-End for		Year for		Year for		Year for		Included for		Equity Values for
Year	Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)
2023	$	5,552,601	$	(430,014)	$	—	$	402,624	$	—	$	—	$	5,525,211
2022	$	3,292,511	$	1,744,493	$	—	$	318,684	$	—	$	—	$	5,355,688
2021	$	4,330,904	$	5,892,939	$	—	$	483,408	$	—	$	—	$	10,707,251

Please note that any columns included in the inclusion of Equity Values tables that contain a “—” did not have an amount in that category for that year.

(4) The Peer Group TSR set forth in this table utilizes the S&P 500 Industrials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended October 29, 2023. The comparison assumes $100 was invested for the period starting November 1, 2020, through the end of the listed year in the Company and in the S&P 500 Industrials Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.

(5) Represents the amount of total net income, in millions, as reported in the Company’s audited GAAP financial statements for each applicable fiscal year, in accordance with rules adopted by the SEC.

(6) We determined Operating Return on Operating Assets (OROA) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in fiscal 2023. OROA is a non-GAAP financial measure used in our Short-Term Incentive plan, and the calculation of, and adjustments to, this measure are described in the Compensation Discussion and Analysis section above. Please refer to Appendix B, “Deere & Company Non-GAAP and Key Performance Measures” for the calculation of OROA. This performance measure may not have been the most important financial performance measure for years 2022 and 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years.

Company Selected Measure Name

Operating Return on Operating Assets

Named Executive Officers, Footnote

(1) Mr. May was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below.

2021	2022	2023
Ryan D. Campbell	Ryan D. Campbell	Ryan D. Campbell
Marc A. Howze	Marc A. Howze	Joshua A. Jepsen
Rajesh Kalathur	Joshua A. Jepsen	Cory J. Reed
Cory J. Reed	Mary K. W. Jones	Justin R. Rose
	Rajesh Kalathur
	Cory J. Reed

Peer Group Issuers, Footnote

(4) The Peer Group TSR set forth in this table utilizes the S&P 500 Industrials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended October 29, 2023. The comparison assumes $100 was invested for the period starting November 1, 2020, through the end of the listed year in the Company and in the S&P 500 Industrials Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.

PEO Total Compensation Amount

$ 26,722,519

$ 20,300,151

$ 19,912,826

PEO Actually Paid Compensation Amount

$ 28,995,124

38,631,080

48,000,087

Adjustment To PEO Compensation, Footnote

(3) Compensation Actually Paid reflects adjustments made to total compensation amounts as reported in the Summary Compensation Table for the applicable year for the PEO and Non-PEO NEOs, as set forth below, computed in accordance with Item 402(v) of Regulation S-K. Equity values are calculated in accordance with FASB ASC Topic 718.

							Exclusion of
	Summary		Exclusion of		Inclusion of		Stock Awards
	Compensation		Change in		Pension Service		and Option		Inclusion of		Compensation
Fiscal	Table Total for		Pension Value for		Cost for		Awards for		Equity Values for		Actually Paid to
Year	John C. May(1) ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)
2023	$	26,722,519	$	(436,715)	$	313,488	$	(18,180,007)	$	20,575,839	$	28,995,124
2022	$	20,300,151	$	—	$	413,778	$	(11,234,238)	$	29,151,389	$	38,631,080
2021	$	19,912,826	$	(741,736)	$	384,230	$	(9,290,187)	$	37,734,954	$	48,000,087

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

	Inclusion of
	Year-End				Inclusion of
	Fair Value of				Vesting Date		Inclusion of		Exclusion of Prior
	Equity Awards		Inclusion of		Fair Value of		Change in Fair		Year-End Fair
	Granted During		Change in		Equity Awards		Value of Equity		Value of Equity		Inclusion of
	the Year That		Fair Value from		Granted During		Awards Granted		Awards Granted		Dividends or Other
	Remained		Last Day of Prior		the Year that		in Prior Years		in Prior Years		Earnings Paid on
	Unvested at		Year to		Vested During		that Vested in		that Failed to Vest		Equity Awards Not		Total - Inclusion
	Applicable		Applicable		the Applicable		the Applicable		in the Applicable		Otherwise		of Equity
Fiscal	Year-End for		Year-End for		Year for		Year for		Year for		Included for		Values for
Year	John C. May(1) ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)		John C. May ($)
2023	$	21,044,235	$	(3,635,148)	$	—	$	3,166,752	$	—	$	—	$	20,575,839
2022	$	19,417,988	$	8,756,697	$	—	$	976,704	$	—	$	—	$	29,151,389
2021	$	19,345,052	$	17,530,496	$	—	$	859,406	$	—	$	—	$	37,734,954

Please note that any columns included in the inclusion of Equity Values tables that contain a “—” did not have an amount in that category for that year.

Non-PEO NEO Average Total Compensation Amount

$ 7,763,381

5,243,700

6,571,828

Non-PEO NEO Average Compensation Actually Paid Amount

$ 8,503,136

8,863,842

15,050,369

Adjustment to Non-PEO NEO Compensation Footnote

(3) Compensation Actually Paid reflects adjustments made to total compensation amounts as reported in the Summary Compensation Table for the applicable year for the PEO and Non-PEO NEOs, as set forth below, computed in accordance with Item 402(v) of Regulation S-K. Equity values are calculated in accordance with FASB ASC Topic 718.

	Average						Exclusion of
	Summary		Exclusion of		Inclusion of		Average Stock		Inclusion of		Average
	Compensation		Average Change in		Average Pension		Awards and Option		Average Equity		Compensation
Fiscal	Table Total for		Pension Value for		Service cost for		Awards for		Values for		Actually Paid to
Year	Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)
2023	$	7,763,381	$	(83,812)	$	86,951	$	(4,788,595)	$	5,525,211	$	8,503,136
2022	$	5,243,700	$	—	$	189,347	$	(1,924,893)	$	5,355,688	$	8,863,842
2021	$	6,571,828	$	(339,277)	$	232,162	$	(2,121,595)	$	10,707,251	$	15,050,369

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

	Inclusion of
	Average Year-End				Inclusion of				Exclusion of
	Fair Value of				Average Vesting		Inclusion of		Average Prior
	Equity Awards		Inclusion of		Date Fair Value		Average Change in		Year-End Fair		Inclusion of
	Granted During		Average Change in		of Equity Awards		Fair Value of		Value of Equity		Average Dividends
	the Year That		Fair Value from		Granted During		Equity Awards		Awards Granted		or Other Earnings
	Remained		Last Day of Prior		the Year that		Granted in Prior		in Prior Years		Paid on Equity
	Unvested at		Year to		Vested During		Years that Vested		that Failed to Vest		Awards Not		Total - Average
	Applicable		Applicable		the Applicable		in the Applicable		in the Applicable		Otherwise		Inclusion of
Fiscal	Year-End for		Year-End for		Year for		Year for		Year for		Included for		Equity Values for
Year	Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)		Non-PEO NEOs ($)
2023	$	5,552,601	$	(430,014)	$	—	$	402,624	$	—	$	—	$	5,525,211
2022	$	3,292,511	$	1,744,493	$	—	$	318,684	$	—	$	—	$	5,355,688
2021	$	4,330,904	$	5,892,939	$	—	$	483,408	$	—	$	—	$	10,707,251

Please note that any columns included in the inclusion of Equity Values tables that contain a “—” did not have an amount in that category for that year.

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid and Company TSR

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and the Company’s cumulative TSR over the three most recently completed fiscal years:

Compensation Actually Paid vs. Net Income

Compensation Actually Paid and Net Income

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Net Income during the three most recently completed fiscal years:

Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid and Company-Selected Measure⁽¹⁾

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Company-Selected Measure during the three most recently completed fiscal years:

(1) OROA is a non-GAAP measure. See Appendix B for details.

Total Shareholder Return Vs Peer Group

Company TSR and Peer Group TSR

The following chart compares our cumulative TSR over the three most recently completed fiscal years to that of the S&P 500 Industrials Index over the same period:

Tabular List, Table

Tabular List of Most Important Financial Performance Measures

The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEO and other NEOs for 2023 to Company performance. The measures in this table are not ranked.

Operating Return on Operating Assets (OROA)⁽¹⁾

Operating Return on Sales (OROS)⁽¹⁾

Shareholder Value Added (SVA)⁽¹⁾

Relative Total Shareholder Return (TSR)

Relative Revenue Growth

Return on Equity (ROE)

(1) OROA, OROS, and SVA are non-GAAP measures. See Appendix B for details.

Total Shareholder Return Amount

$ 165.72

179.84

153.17

Peer Group Total Shareholder Return Amount

133.62

128.81

139.83

Net Income (Loss)

$ 10,155,000,000

$ 7,130,000,000

$ 5,965,000,000

Company Selected Measure Amount | item

52.5

39.8

38.1

PEO Name

Mr. May

Measure:: 1

Pay vs Performance Disclosure

Name

Operating Return on Operating Assets (OROA)

Non-GAAP Measure Description

(6) We determined Operating Return on Operating Assets (OROA) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in fiscal 2023. OROA is a non-GAAP financial measure used in our Short-Term Incentive plan, and the calculation of, and adjustments to, this measure are described in the Compensation Discussion and Analysis section above. Please refer to Appendix B, “Deere & Company Non-GAAP and Key Performance Measures” for the calculation of OROA. This performance measure may not have been the most important financial performance measure for years 2022 and 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years.

Measure:: 2

Pay vs Performance Disclosure

Name

Operating Return on Sales (OROS)

Measure:: 3

Pay vs Performance Disclosure

Name

Shareholder Value Added (SVA)

Measure:: 4

Pay vs Performance Disclosure

Name

Relative Total Shareholder Return (TSR)

Measure:: 5

Pay vs Performance Disclosure

Name

Relative Revenue Growth

Measure:: 6

Pay vs Performance Disclosure

Name

Return on Equity (ROE)

PEO | Exclusion of Change in Pension Value

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (436,715)

$ (741,736)

PEO | Inclusion of Pension Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

313,488

$ 413,778

384,230

PEO | Exclusion of Stock Awards and Option Awards

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(18,180,007)

(11,234,238)

(9,290,187)

PEO | Inclusion of Equity Values

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

20,575,839

29,151,389

37,734,954

PEO | Inclusion of Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested at Applicable Year-End

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

21,044,235

19,417,988

19,345,052

PEO | Inclusion of Change in Fair Value from Last Day of Prior Year to Applicable Year-End

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(3,635,148)

8,756,697

17,530,496

PEO | Inclusion of Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Applicable Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,166,752

976,704

859,406

Non-PEO NEO | Exclusion of Change in Pension Value

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(83,812)

(339,277)

Non-PEO NEO | Inclusion of Pension Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

86,951

189,347

232,162

Non-PEO NEO | Exclusion of Stock Awards and Option Awards

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(4,788,595)

(1,924,893)

(2,121,595)

Non-PEO NEO | Inclusion of Equity Values

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

5,525,211

5,355,688

10,707,251

Non-PEO NEO | Inclusion of Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested at Applicable Year-End

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

5,552,601

3,292,511

4,330,904

Non-PEO NEO | Inclusion of Change in Fair Value from Last Day of Prior Year to Applicable Year-End

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(430,014)

1,744,493

5,892,939

Non-PEO NEO | Inclusion of Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Applicable Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 402,624

$ 318,684

$ 483,408