UNCONSOLIDATED AFFILIATED COMPANY

12 Months Ended

Oct. 27, 2024

UNCONSOLIDATED AFFILIATED COMPANY

UNCONSOLIDATED AFFILIATED COMPANY

NOTE 22. UNCONSOLIDATED AFFILIATED COMPANY

Our investment in an unconsolidated affiliated company consists of a 50 percent ownership in John Deere Financial S.A.S., a joint venture in France that primarily offers loans and leases to customers. We do not control the joint venture and account for our investment in the joint venture on the equity basis. Our share of the income or loss of this joint venture is reported in “Equity in income of unconsolidated affiliate,” and the investment is reported in “Investment in unconsolidated affiliate.”

Summarized financial information of the unconsolidated affiliated company for the relevant fiscal years was as follows:

	2024		2023		2022
Operations:
Total revenue	$	38.4	$	25.5	$	17.7
Net income		9.3		7.8		9.0
The Company’s equity in net income		4.7		3.9		4.5

	2024		2023
Financial Position:
Total assets	$	684.7	$	606.5
Total external borrowings		572.1		541.3
Total net assets		97.9		55.2
The Company’s share of net assets		49.0		27.6