SEGMENT REPORTING

6 Months Ended

Apr. 30, 2023

SEGMENT REPORTING

SEGMENT REPORTING

(7)  Segment Reporting

Worldwide net sales and revenues, operating profit, and identifiable assets by segment were as follows in millions of dollars:

	Three Months Ended					Six Months Ended
	April 30		May 1		%	April 30		May 1		%
	2023		2022		Change	2023		2022		Change
Net sales and revenues:
Production & precision ag net sales	$	7,822	$	5,117	+53	$	13,021	$	8,473	+54
Small ag & turf net sales		4,145		3,570	+16		7,146		6,201	+15
Construction & forestry net sales		4,112		3,347	+23		7,314		5,891	+24
Financial services revenues		1,107		864	+28		2,147		1,734	+24
Other revenues		201		472	-57		410		640	-36
Total net sales and revenues	$	17,387	$	13,370	+30	$	30,038	$	22,939	+31
Operating profit:
Production & precision ag	$	2,170	$	1,057	+105	$	3,378	$	1,353	+150
Small ag & turf		849		520	+63		1,296		891	+45
Construction & forestry		838		814	+3		1,463		1,085	+35
Financial services		41		279	-85		279		577	-52
Total operating profit		3,898		2,670	+46		6,416		3,906	+64
Reconciling items		(47)		(111)	-58		(69)		(195)	-65
Income taxes		(991)		(461)	+115		(1,528)		(710)	+115
Net income attributable to Deere & Company	$	2,860	$	2,098	+36	$	4,819	$	3,001	+61
Intersegment sales and revenues:
Production & precision ag net sales	$	8	$	6	+33	$	12	$	10	+20
Small ag & turf net sales		4		4			7		6	+17
Construction & forestry net sales
Financial services revenues		190		87	+118		395		133	+197

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 of the financial services segment includes the effect of interest expense and foreign exchange gains and losses. Reconciling items to net income are primarily corporate expenses, certain external interest 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.

	April 30		October 30		May 1
	2023		2022		2022
Identifiable assets:
Production & precision ag	$	9,504	$	8,414	$	8,680
Small ag & turf		4,743		4,451		4,431
Construction & forestry		7,299		6,754		6,984
Financial services		65,233		58,864		53,110
Corporate		11,568		11,547		10,894
Total assets	$	98,347	$	90,030	$	84,099