Deere & Company (DE) 10-Q28 May 202020 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information	6 Months Ended
Document and Entity Information	May 03, 2020shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	May 3, 2020
Entity File Number	1-4121
Entity Registrant Name	DEERE & CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2382580
Entity Address, Address Line One	One John Deere Place
Entity Address, City or Town	Moline
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61265
City Area Code	309
Local Phone Number	765-8000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	312,858,631
Current Fiscal Year End Date	--11-01
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000315189
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $1 par value
Trading Symbol	DE
Security Exchange Name	NYSE
8-1/2% Debentures Due 2022
Document Information [Line Items]
Title of 12(b) Security	8½% Debentures Due 2022
Trading Symbol	DE22
Security Exchange Name	NYSE
6.55% Debentures Due 2028
Document Information [Line Items]
Title of 12(b) Security	6.55% Debentures Due 2028
Trading Symbol	DE28
Security Exchange Name	NYSE

STATEMENT OF CONSOLIDATED INCOM

STATEMENT OF CONSOLIDATED INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Net Sales and Revenues
Net sales and revenues	$ 9,253	$ 11,342	$ 16,884	$ 19,326
Costs and Expenses
Research and development expenses	406	457	831	864
Selling, administrative and general expenses	906	947	1,715	1,710
Interest expense	342	351	678	704
Total	8,325	9,869	15,387	17,175
Income of Consolidated Group before Income Taxes	928	1,473	1,497	2,151
Provision for income taxes	245	343	295	528
Income of Consolidated Group	683	1,130	1,202	1,623
Equity in income (loss) of unconsolidated affiliates	(17)	6	(18)	13
Net Income	666	1,136	1,184	1,636
Less: Net income attributable to noncontrolling interests	0	1	2	3
Net Income Attributable to Deere & Company	$ 666	$ 1,135	$ 1,182	$ 1,633
Per Share Data
Basic (in dollars per share)	$ 2.13	$ 3.57	$ 3.77	$ 5.13
Diluted (in dollars per share)	$ 2.11	$ 3.52	$ 3.73	$ 5.07
Average Shares Outstanding
Basic (in shares)	313.2	317.9	313.3	318.1
Diluted (in shares)	316.2	322.2	316.7	322.4
Net Sales
Net Sales and Revenues
Net sales	$ 8,224	$ 10,273	$ 14,754	$ 17,214
Costs and Expenses
Costs and expenses	6,294	7,755	11,371	13,186
Finance and Interest Income
Net Sales and Revenues
Net sales and revenues	849	838	1,745	1,653
Other
Net Sales and Revenues
Net sales and revenues	180	231	385	459
Costs and Expenses
Costs and expenses	$ 377	$ 359	$ 792	$ 711

STATEMENT OF CONSOLIDATED COMPR

STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME
Net income	$ 666	$ 1,136	$ 1,184	$ 1,636
Other Comprehensive Income (Loss), Net of Income Taxes
Retirement benefits adjustment	57	49	287	68
Cumulative translation adjustment	(441)	(82)	(398)	(244)
Unrealized loss on derivatives	(8)	(7)	(8)	(15)
Unrealized gain on debt securities	6	8	11	16
Other Comprehensive Income (Loss), Net of Income Taxes	(386)	(32)	(108)	(175)
Comprehensive Income of Consolidated Group	280	1,104	1,076	1,461
Less: Comprehensive income attributable to noncontrolling interests	0	1	2	3
Comprehensive Income Attributable to Deere & Company	$ 280	$ 1,103	$ 1,074	$ 1,458

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	May 03, 2020	Feb. 02, 2020	Nov. 04, 2019	Nov. 03, 2019	Apr. 28, 2019	Jan. 27, 2019	Oct. 28, 2018
ASSETS
Cash and cash equivalents	$ 8,900			$ 3,857	$ 3,484
Marketable securities	626			581	545
Receivables from unconsolidated affiliates	32			46	34
Trade accounts and notes receivable - net	5,986			5,230	7,519
Financing receivables - net	27,256			29,195	25,870
Financing receivables securitized - net	4,685			4,383	4,814
Other receivables	1,212			1,487	1,477
Equipment on operating leases - net	7,245			7,567	7,040
Inventories	6,171			5,975	7,161
Property and equipment - net	5,685			5,973	5,757
Investments in unconsolidated affiliates	192			215	235
Goodwill	2,917			2,917	3,025		$ 3,101
Other intangible assets - net	1,311		$ 1,357	1,380	1,476
Retirement benefits	960			840	1,383
Deferred income taxes	1,435			1,466	1,039
Other assets	2,713		2,301	1,899	1,871
Total Assets	77,326			73,011	72,730
LIABILITIES
Short-term borrowings	11,179		10,795	10,784	11,762
Short-term securitization borrowings	4,640			4,321	4,702
Payables to unconsolidated affiliates	91			142	200
Accounts payable and accrued expenses	9,072		10,004	9,656	9,626
Deferred income taxes	475			495	514
Long-term borrowings	34,324		$ 30,249	30,229	28,255
Retirement benefits and other liabilities	5,680			5,953	5,733
Total liabilities	65,461			61,580	60,792
Commitments and contingencies (Note 16)
Redeemable noncontrolling interest (Note 22)				14	14
STOCKHOLDERS' EQUITY
Common stock, $1 par value (issued shares at May 3, 2020 - 536,431,204)	4,713			4,642	4,559
Common stock in treasury	(17,690)			(17,474)	(16,739)
Retained earnings	30,556			29,852	28,709
Accumulated other comprehensive income (loss)	(5,715)			(5,607)	(4,610)
Total Deere & Company stockholders' equity	11,864			11,413	11,919
Noncontrolling interests	1			4	5
Total stockholders' equity	11,865	$ 11,930		11,417	11,924	$ 11,333	$ 11,291
Total Liabilities and Stockholders' Equity	$ 77,326			$ 73,011	$ 72,730

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical)	May 03, 2020$ / sharesshares
CONDENSED CONSOLIDATED BALANCE SHEET
Common stock, par value (in dollars per share) \| $ / shares	$ 1
Common stock, issued shares \| shares	536,431,204

STATEMENT OF CONSOLIDATED CASH

STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	May 03, 2020	Apr. 28, 2019
Cash Flows from Operating Activities
Net income	$ 1,184	$ 1,636
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision for credit losses	107	37
Provision for depreciation and amortization	1,067	1,016
Impairment charges	114
Share-based compensation expense	48	44
Undistributed earnings of unconsolidated affiliates	(8)	(9)
Credit for deferred income taxes	(61)	(282)
Changes in assets and liabilities:
Trade, notes, and financing receivables related to sales	(491)	(2,731)
Inventories	(496)	(1,394)
Accounts payable and accrued expenses	(707)	(66)
Accrued income taxes payable/receivable	(173)	157
Retirement benefits	58	20
Other	134	77
Net cash provided by (used for) operating activities	776	(1,495)
Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales)	9,624	9,176
Proceeds from maturities and sales of marketable securities	39	30
Proceeds from sales of equipment on operating leases	898	823
Cost of receivables acquired (excluding receivables related to sales)	(9,367)	(8,887)
Purchases of marketable securities	(71)	(59)
Purchases of property and equipment	(441)	(491)
Cost of equipment on operating leases acquired	(960)	(924)
Collateral on derivatives - net	319	60
Other	(11)	(100)
Net cash provided by (used for) investing activities	30	(372)
Cash Flows from Financing Activities
Increase in total short-term borrowings	1,138	1,570
Proceeds from long-term borrowings	7,275	4,232
Payments of long-term borrowings	(3,315)	(3,427)
Proceeds from issuance of common stock	70	95
Repurchases of common stock	(263)	(481)
Dividends paid	(481)	(462)
Other	(81)	(54)
Net cash provided by financing activities	4,343	1,473
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	(102)	(35)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	5,047	(429)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	3,956	4,015
Cash, Cash Equivalents, and Restricted Cash at End of Period	$ 9,003	$ 3,586

STATEMENT OF CHANGES IN CONSOLI

STATEMENT OF CHANGES IN CONSOLIDATED STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Common Stock	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Total
Balance at Oct. 28, 2018	$ 4,474	$ (16,312)	$ 27,553	$ (4,427)	$ 3	$ 11,291
Increase (Decrease) in Stockholders' Equity
Net income			1,633		3	1,636
Other comprehensive loss				(175)		(175)
Repurchases of common stock		(481)				(481)
Treasury shares reissued		54				54
Dividends declared			(485)		(1)	(486)
Stock options and other	85					85
Balance at Apr. 28, 2019	4,559	(16,739)	28,709	(4,610)	5	11,924
Redeemable Noncontrolling Interest - Balance at Oct. 28, 2018						14
Redeemable Noncontrolling Interest - Balance at Apr. 28, 2019						14
Balance at Jan. 27, 2019	4,512	(16,422)	27,816	(4,578)	5	11,333
Increase (Decrease) in Stockholders' Equity
Net income			1,135		1	1,136
Other comprehensive loss				(32)		(32)
Repurchases of common stock		(337)				(337)
Treasury shares reissued		20				20
Dividends declared			(242)		(1)	(243)
Stock options and other	47					47
Balance at Apr. 28, 2019	4,559	(16,739)	28,709	(4,610)	5	11,924
Redeemable Noncontrolling Interest - Balance at Jan. 27, 2019						14
Redeemable Noncontrolling Interest - Balance at Apr. 28, 2019						14
Increase (Decrease) in Stockholders' Equity
ASU No. 2016-01 adoption			8	(8)
Balance at Nov. 03, 2019	4,642	(17,474)	29,852	(5,607)	4	11,417
Increase (Decrease) in Stockholders' Equity
Net income			1,182		1	1,183
Other comprehensive loss				(108)		(108)
Repurchases of common stock		(263)				(263)
Treasury shares reissued		47				47
Dividends declared			(477)		(3)	(480)
Stock options and other	71		(1)		(1)	69
Balance at May. 03, 2020	4,713	(17,690)	30,556	(5,715)	1	11,865
Redeemable Noncontrolling Interest - Balance at Nov. 03, 2019						14
Increase (Decrease) in Redeemable Noncontrolling Interest
Net income						1
Dividends declared						(1)
Noncontrolling interest redemption (Note 22)						(14)
Balance at Feb. 02, 2020	4,675	(17,549)	30,129	(5,329)	4	11,930
Increase (Decrease) in Stockholders' Equity
Net income			666			666
Other comprehensive loss				(386)		(386)
Repurchases of common stock		(149)				(149)
Treasury shares reissued		8				8
Dividends declared			(238)		(3)	(241)
Stock options and other	38		(1)			37
Balance at May. 03, 2020	$ 4,713	$ (17,690)	$ 30,556	$ (5,715)	$ 1	11,865
Redeemable Noncontrolling Interest - Balance at Feb. 02, 2020						14
Increase (Decrease) in Redeemable Noncontrolling Interest
Noncontrolling interest redemption (Note 22)						$ (14)

ORGANIZATION AND CONSOLIDATION

ORGANIZATION AND CONSOLIDATION	6 Months Ended
ORGANIZATION AND CONSOLIDATION	May 03, 2020
ORGANIZATION AND CONSOLIDATION
ORGANIZATION AND CONSOLIDATION	(1) Organization and Consolidation The information in the notes and related commentary are presented in a format which includes data grouped as follows: Equipment Operations – Financial Services – Consolidated – The Company uses a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The second quarter ends for fiscal year 2020 and 2019 were May 3, 2020 and April 28, 2019, respectively. Both periods contained 13 weeks. Variable Interest Entities The Company consolidates certain Variable Interest Entities (VIEs) related to retail note securitizations (see Note 12). The Company also has an interest in a joint venture that manufactures construction equipment in Brazil for local and overseas markets. The joint venture is a VIE; however, the Company is not the primary beneficiary. Therefore, the entity’s financial results are not fully consolidated in the Company’s consolidated financial statements, but are included on the equity basis. The maximum exposure to loss was $13 million, $22 million, and $22 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND CASH FLOW INFORMATION	6 Months Ended
	May 03, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND CASH FLOW INFORMATION
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(2) Summary of Significant Accounting Policies and Cash Flow Information T The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts and related disclosures. The identification and rapid spread of COVID-19 (COVID) has resulted in governments and other authorities implementing numerous measures designed to contain the virus. These and other actions have resulted in uncertainties in the Company’s business, which may result in actual results differing significantly from those estimates. Examples of estimates used in the financial statements affected by this uncertainty include sales incentive costs, incurred credit losses, the value of used equipment, equipment on operating lease return rates, forecasted annual effective income tax rate, and cash flows to determine long-lived assets, goodwill, and certain intangible asset recoverability, and fair value measurements.
CASH FLOW INFORMATION	Cash Flow Information All cash flows from the changes in trade accounts and notes receivable are classified as operating activities in the statement of consolidated cash flows as these receivables arise from sales to the Company’s customers. Cash flows from financing receivables that are related to sales to the Company’s customers are also included in operating activities. The remaining financing receivables are related to the financing of equipment sold by independent dealers and are included in investing activities. The Company had the following non-cash operating and investing activities that were not included in the statement of consolidated cash flows. The Company transferred inventory to equipment on operating leases of approximately $255 million and $308 million in the first six months of 2020 and 2019, respectively. The Company also had accounts payable related to purchases of property and equipment of approximately $46 million and $74 million at May 3, 2020 and April 28, 2019, respectively. The Company’s restricted cash held at May 3, 2020, November 3, 2019, April 28, 2019, and October 28, 2018 was as follows in millions of dollars: May 3 November 3 April 28 October 28 2020 2019 2019 2018 Equipment operations $ 11 $ 21 $ 10 $ 7 Financial services 92 78 92 104 Total $ 103 $ 99 $ 102 $ 111 The equipment operations’ restricted cash relates to miscellaneous operational activities. The financial services restricted cash primarily relates to securitization of financing receivables (see Note 12). The restricted cash is recorded in “Other assets” in the consolidated balance sheet.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
NEW ACCOUNTING STANDARDS	May 03, 2020
NEW ACCOUNTING STANDARDS
NEW ACCOUNTING STANDARDS	(3) New Accounting Standards New Accounting Standards Adopted In the first quarter of 2020, the Company adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-02 , Leases (Topic 842), which supersedes Accounting Standards Codification (ASC) 840, Leases. This ASU was adopted using a modified-retrospective approach. The ASU’s primary change is the requirement for lessee entities to recognize a lease liability for payments and a right of use asset during the term of operating lease arrangements. The ASU did not significantly change the lessee’s recognition, measurement, and presentation of expenses and cash flows from the previous accounting standard. Lessors’ accounting under the ASC is largely unchanged from the previous accounting standard. The ASU adds new disclosures about the Company’s leasing activities. The Company elected the optional practical expedients to not reassess whether existing contracts contain leases, not reassess lease classification, and not reassess initial direct costs for existing leases. The Company did not elect the hindsight practical expedient . In addition, the Company elected to combine lease and non-lease components for all asset classes and to not recognize a right of use asset or lease liability for arrangements that qualify as short-term leases. The operating lease liabilities are recorded in “Accounts payable and accrued expenses” and the operating lease right of use assets are recorded in “Other assets.” The finance lease liabilities are recorded in “Short-term borrowings” or “Long-term borrowings” based on the remaining lease term, and the finance lease right of use assets are recorded in “Property and equipment - net.” In addition to the lease liabilities and right of use assets, land use rights were reclassified from “Other intangible assets - net” to “Other assets” and finance lease liabilities were reclassified from “Accounts payable and accrued expenses” to “Short-term borrowings” and “Long-term borrowings.” The effect of adopting the ASU on the consolidated balance sheet follows in millions of dollars: November 3, 2019 Cumulative Effect November 4, 2019 Assets Other intangible assets - net $ 1,380 $ (23) $ 1,357 Other assets 1,899 402 2,301 Liabilities Short-term borrowings $ 10,784 $ 11 $ 10,795 Accounts payable and accrued expenses 9,656 348 10,004 Long-term borrowings 30,229 20 30,249 The Company implemented a new system for lessee accounting with new processes and controls at the time of adopting the ASU. The adoption did not have a material effect on the Company’s operating results or cash flows. See Note 15 for additional information. The Company also adopted the following standards in the first quarter of 2020, none of which had a material effect on the Company’s consolidated financial statements: Accounting Standards Updates 2017-08 Premium Amortization on Purchased Callable Debt Securities, which amends ASC 310-20, Receivables – Nonrefundable Fees and Other Costs 2018-07 Improvements to Nonemployee Share-Based Payment Accounting, which amends ASC 718, Compensation – Stock Compensation 2019-04 Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. The adoption was for clarifications to ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which establishes ASC 848, Reference Rate Reform. Regulators in several countries are requiring initiatives to identify alternative reference rates to the London Interbank Offered Rates and other interbank rates. This regulatory requirement will likely result in contract revisions that will transition to alternative reference rates. This ASU provides optional, temporary guidance, simplifications, and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions resulting from the transition. The guidance in this ASU is elective and effective beginning in the second quarter of 2020 through December 31, 2022. The Company is evaluating the contracts that could be affected by an alternative reference rate and assessing the potential effects of the ASU on the consolidated financial statements. New Accounting Standards to be Adopted In June 2016, the FASB issued ASU No. 2016-13 , Measurement of Credit Losses on Financial Instruments, which establishes ASC 326, Financial Instruments – Credit Losses. The ASU revises the measurement of credit losses for financial assets measured at amortized cost from an incurred loss to an expected loss methodology. The ASU affects receivables, debt securities, net investment in leases, and most other financial assets that represent a right to receive cash. Additional disclosures about significant estimates and credit quality are also required. The effective date will be the first quarter of fiscal year 2021. The ASU will be adopted using a modified-retrospective approach. The Company is developing models to estimate expected credit losses, assessing appropriate assumptions, designing new procedures and controls, and evaluating the potential effects on the consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15 , Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which amends ASC 350-40, Intangibles – Goodwill and Other – Internal-Use Software. This ASU requires customers in a hosting arrangement that is a service contract to evaluate the implementation costs of the hosting arrangement using the guidance to develop internal-use software. The project development stage determines the implementation costs that are capitalized or expensed. Capitalized implementation costs are amortized over the term of the service arrangement and are presented in the same income statement line item as the service contract costs. The effective date will be the first quarter of fiscal year 2021, with early adoption permitted. The Company will adopt the ASU on a prospective basis. The Company is evaluating the potential effects on the Company’s consolidated financial statements. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. The effective dates for the separate portions of the ASU and the expected effect on the consolidated financial statements are as follows for the portions that have not yet been adopted: (1) clarifications to ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments, is the first quarter of fiscal year 2021, which is under evaluation, and (2) clarifications to ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities is the first quarter of fiscal year 2021, which will not have a material effect on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which amends ASC 740, Income Taxes. This ASU simplifies the accounting for income taxes by modifying the treatment of intraperiod tax allocation in certain circumstances, eliminating an exception to recognizing deferred tax liabilities for outside basis differences for foreign equity method investments and foreign subsidiaries when ownership or control changes, and modifying interim period tax calculations when a loss is forecast. In addition, the ASU also provides guidance for the accounting of a franchise tax that is partially based on income, requires that enacted changes in tax laws or rates be included in the annual effective rate determination in the period that includes the enactment date, and clarifies the tax accounting of a step up in tax basis of goodwill. The effective date will be the first quarter of fiscal year 2022, with early adoption permitted. The guidance related to the foreign equity method investments, foreign subsidiaries, and franchise taxes will be adopted using a modified-retrospective approach. The remaining provisions will be adopted prospectively. The adoption is not expected to have a material effect on the Company’s consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
REVENUE RECOGNITION	May 03, 2020
REVENUE RECOGNITION
REVENUE RECOGNITION	(4) Revenue Recognition The Company’s revenue by primary geographical market, major product line, and timing of revenue recognition in millions of dollars follow: Three Months Ended May 3, 2020 Agriculture Construction Financial Total Primary geographical markets: United States $ 3,381 $ 1,263 $ 604 $ 5,248 Canada 266 166 151 583 Western Europe 1,111 358 22 1,491 Central Europe and CIS 338 140 8 486 Latin America 458 135 60 653 Asia, Africa, Australia, New Zealand, and Middle East 511 251 30 792 Total $ 6,065 $ 2,313 $ 875 $ 9,253 Major product lines: Large Agriculture $ 3,075 $ 3,075 Small Agriculture 1,976 1,976 Turf 806 806 Construction $ 877 877 Compact Construction 339 339 Roadbuilding 723 723 Forestry 254 254 Financial Products 21 6 $ 875 902 Other 187 114 301 Total $ 6,065 $ 2,313 $ 875 $ 9,253 Timing of revenue recognition: Revenue recognized at a point in time $ 6,016 $ 2,287 $ 26 $ 8,329 Revenue recognized over time 49 26 849 924 Total $ 6,065 $ 2,313 $ 875 $ 9,253 Six Months Ended May 3, 2020 Agriculture Construction Financial Total Primary geographical markets: United States $ 5,881 $ 2,283 $ 1,247 $ 9,411 Canada 404 338 307 1,049 Western Europe 1,889 697 44 2,630 Central Europe and CIS 558 299 18 875 Latin America 913 294 126 1,333 Asia, Africa, Australia, New Zealand, and Middle East 1,015 507 64 1,586 Total $ 10,660 $ 4,418 $ 1,806 $ 16,884 Major product lines: Large Agriculture $ 5,214 $ 5,214 Small Agriculture 3,741 3,741 Turf 1,274 1,274 Construction $ 1,718 1,718 Compact Construction 627 627 Roadbuilding 1,328 1,328 Forestry 528 528 Financial Products 48 13 $ 1,806 1,867 Other 383 204 587 Total $ 10,660 $ 4,418 $ 1,806 $ 16,884 Timing of revenue recognition: Revenue recognized at a point in time $ 10,556 $ 4,366 $ 52 $ 14,974 Revenue recognized over time 104 52 1,754 1,910 Total $ 10,660 $ 4,418 $ 1,806 $ 16,884 Three Months Ended April 28, 2019 Agriculture Construction Financial Total Primary geographical markets: United States $ 3,912 $ 1,738 $ 604 $ 6,254 Canada 313 265 153 731 Western Europe 1,360 379 21 1,760 Central Europe and CIS 393 155 9 557 Latin America 772 194 69 1,035 Asia, Africa, Australia, New Zealand, and Middle East 647 328 30 1,005 Total $ 7,397 $ 3,059 $ 886 $ 11,342 Major product lines: Large Agriculture $ 3,494 $ 3,494 Small Agriculture 2,632 2,632 Turf 989 989 Construction $ 1,478 1,478 Compact Construction 320 320 Roadbuilding 814 814 Forestry 338 338 Financial Products 25 6 $ 886 917 Other 257 103 360 Total $ 7,397 $ 3,059 $ 886 $ 11,342 Timing of revenue recognition: Revenue recognized at a point in time $ 7,345 $ 3,034 $ 10,379 Revenue recognized over time 52 25 $ 886 963 Total $ 7,397 $ 3,059 $ 886 $ 11,342 Six Months Ended April 28, 2019 Agriculture Construction Financial Total Primary geographical markets: United States $ 6,540 $ 2,901 $ 1,179 $ 10,620 Canada 485 513 310 1,308 Western Europe 2,208 716 41 2,965 Central Europe and CIS 541 326 18 885 Latin America 1,320 344 133 1,797 Asia, Africa, Australia, New Zealand, and Middle East 1,100 591 60 1,751 Total $ 12,194 $ 5,391 $ 1,741 $ 19,326 Major product lines: Large Agriculture $ 5,661 $ 5,661 Small Agriculture 4,441 4,441 Turf 1,495 1,495 Construction $ 2,487 2,487 Compact Construction 584 584 Roadbuilding 1,412 1,412 Forestry 690 690 Financial Products 44 13 $ 1,741 1,798 Other 553 205 758 Total $ 12,194 $ 5,391 $ 1,741 $ 19,326 Timing of revenue recognition: Revenue recognized at a point in time $ 12,100 $ 5,347 $ 17,447 Revenue recognized over time 94 44 $ 1,741 1,879 Total $ 12,194 $ 5,391 $ 1,741 $ 19,326 Following is a description of the Company’s major product lines: Large Agriculture Small Agriculture Turf Construction Compact Construction Roadbuilding Forestry Financial Products Other The Company invoices in advance of recognizing the sale of certain products and the revenue for certain services. These items are primarily for premiums for extended warranties, advance payments for future equipment sales, and subscription and service revenue related to precision guidance and telematic services. These advanced customer payments are presented as deferred revenue, a contract liability, in “Accounts payable and accrued expenses” in the consolidated balance sheet. The deferred revenue received, but not recognized in revenue, including extended warranty premiums also shown in Note 16, was $1,077 million, $1,010 million and $1,014 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively. The contract liability is reduced as the revenue is recognized. During the three months ended May 3, 2020 and April 28, 2019, $97 million and $103 million, respectively, of revenue was recognized from deferred revenue that was recorded as a contract liability at the beginning of the respective fiscal year. During the six months ended May 3, 2020 and April 28, 2019, $278 million and $265 million, respectively, of revenue was recognized from deferred revenue that was recorded as a contract liability at the beginning of the respective fiscal year. The Company entered into contracts with customers to deliver equipment and services that have not been recognized at May 3, 2020 because the equipment or services have not been provided. These contracts primarily relate to extended warranty and certain precision guidance and telematic services. The amount of unsatisfied performance obligations for contracts with an original duration greater than one year is $907 million at May 3, 2020. The estimated revenue to be recognized by fiscal year follows in millions of dollars: remainder of 2020 - $214, 2021 - $320, 2022 - $205, 2023 - $109, 2024 - $45, and later years - $14. The Company discloses unsatisfied performance obligations with an original contract duration greater than one year. The contracts with an expected duration of one year or less are generally for sales to dealers and end customers for equipment, service parts, repair services, and certain telematics services. As explained in the 2019 Form 10-K, the Company’s policy on trade accounts and notes receivables is to not extend interest-free periods nor to forgive interest charged. During the second quarter of 2020, the Company provided short-term payment relief on trade accounts and notes receivables to independent dealers and certain other customers (customers) that are negatively affected by the economic effects of COVID. The relief was provided both in regional programs and case-by-case situations with creditworthy customers. This relief generally included payment deferrals not exceeding three months, extending interest-free periods for up to an additional three months with the total interest-free period not to exceed one year, or reducing interest rates for a maximum of three months. The trade receivable balance granted relief in the second quarter was $707 million with $585 million outstanding, or approximately 10 percent of the trade receivable portfolio, at May 3, 2020. These actions were taken in response to the sudden, severe economic effects of COVID on customers. Outside of these actions, the Company is not modifying its normal sales terms with customers that are outlined in the 2019 Form 10-K. For customers who obtained payment relief, subsequent sales transactions are evaluated to confirm the revenue recognition criteria are met, including the sales price is determinable and collectability of the payments are probable based on the terms outlined in the contract.

OTHER COMPREHENSIVE INCOME ITEM

OTHER COMPREHENSIVE INCOME ITEMS	6 Months Ended
OTHER COMPREHENSIVE INCOME ITEMS	May 03, 2020
OTHER COMPREHENSIVE INCOME ITEMS
OTHER COMPREHENSIVE INCOME ITEMS	(5) Other Comprehensive Income Items The after-tax changes in accumulated other comprehensive income (loss) in millions of dollars follow: Total Unrealized Unrealized Accumulated Retirement Cumulative Gain (Loss) Gain (Loss) Other Benefits Translation on on Comprehensive Adjustment Adjustment Derivatives Debt Securities Income (Loss) Balance October 28, 2018 $ (3,237) $ (1,203) $ 15 $ (2) $ (4,427) ASU No. 2016-01 adoption (8) (8) Other comprehensive income (loss) items before reclassification 32 (244) (11) 16 (207) Amounts reclassified from accumulated other comprehensive income 36 (4) 32 Net current period other comprehensive income (loss) 68 (244) (15) 16 (175) Balance April 28, 2019 $ (3,169) $ (1,447) $ 6 $ (4,610) Balance November 3, 2019 $ (3,915) $ (1,651) $ (60) $ 19 $ (5,607) Other comprehensive income (loss) items before reclassification 186 (398) (13) 11 (214) Amounts reclassified from accumulated other comprehensive income 101 5 106 Net current period other comprehensive income (loss) 287 (398) (8) 11 (108) Balance May 3, 2020 $ (3,628) $ (2,049) $ (68) $ 30 $ (5,715) Following are amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects, in millions of dollars: Before Tax After Tax (Expense) Tax Three Months Ended May 3, 2020 Amount Credit Amount Cumulative translation adjustment $ (441) $ (441) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (15) $ 3 (12) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 4 4 Net unrealized gain (loss) on derivatives (11) 3 (8) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 8 (2) 6 Net unrealized gain (loss) on debt securities 8 (2) 6 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (28) 6 (22) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 62 (16) 46 Prior service (credit) cost 3 3 Settlements 3 3 OPEB Net actuarial gain (loss) 29 (7) 22 Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 7 (1) 6 Prior service (credit) cost (1) (1) Net unrealized gain (loss) on retirement benefits adjustment 75 (18) 57 Total other comprehensive income (loss) $ (369) $ (17) $ (386) Before Tax After Tax (Expense) Tax Six Months Ended May 3, 2020 Amount Credit Amount Cumulative translation adjustment $ (398) $ (398) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (17) $ 4 (13) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 6 (1) 5 Net unrealized gain (loss) on derivatives (11) 3 (8) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 14 (3) 11 Net unrealized gain (loss) on debt securities 14 (3) 11 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (27) 6 (21) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 124 (42) 82 Prior service (credit) cost 6 (1) 5 Settlements 6 (1) 5 OPEB Net actuarial gain (loss) 274 (67) 207 Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 14 (3) 11 Prior service (credit) cost (2) (2) Net unrealized gain (loss) on retirement benefits adjustment 395 (108) 287 Total other comprehensive income (loss) $ (108) $ (108) Before Tax After Tax (Expense) Tax Three Months Ended April 28, 2019 Amount Credit Amount Cumulative translation adjustment $ (83) $ 1 $ (82) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (6) 1 (5) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense (3) 1 (2) Net unrealized gain (loss) on derivatives (9) 2 (7) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 10 (2) 8 Net unrealized gain (loss) on debt securities 10 (2) 8 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (19) 4 (15) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 36 (9) 27 Prior service (credit) cost 3 (1) 2 OPEB Net actuarial gain (loss) 60 (14) 46 Reclassification to other operating expense through amortization of: * Actuarial (gain) loss 3 (1) 2 Prior service (credit) cost (18) 5 (13) Net unrealized gain (loss) on retirement benefits adjustment 65 (16) 49 Total other comprehensive income (loss) $ (17) $ (15) $ (32) In the second quarter of 2020 2019 Before Tax After Tax (Expense) Tax Six Months Ended April 28, 2019 Amount Credit Amount Cumulative translation adjustment $ (244) $ (244) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (14) $ 3 (11) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense (5) 1 (4) Net unrealized gain (loss) on derivatives (19) 4 (15) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 20 (4) 16 Net unrealized gain (loss) on debt securities 20 (4) 16 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (18) 4 (14) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 71 (17) 54 Prior service (credit) cost 6 (2) 4 OPEB Net actuarial gain (loss) 60 (14) 46 Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 8 (2) 6 Prior service (credit) cost (36) 8 (28) Net unrealized gain (loss) on retirement benefits adjustment 91 (23) 68 Total other comprehensive income (loss) $ (152) $ (23) $ (175) * In the first six months of 2020 2019

DIVIDENDS DECLARED AND PAID

DIVIDENDS DECLARED AND PAID	6 Months Ended
DIVIDENDS DECLARED AND PAID	May 03, 2020
DIVIDENDS DECLARED AND PAID
DIVIDENDS DECLARED AND PAID	(6) Dividends Declared and Paid Dividends declared and paid on a per share basis were as follows: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Dividends declared $ .76 $ .76 $ 1.52 $ 1.52 Dividends paid $ .76 $ .76 $ 1.52 $ 1.45

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
EARNINGS PER SHARE	May 03, 2020
EARNINGS PER SHARE
EARNINGS PER SHARE	(7) Earnings Per Share A reconciliation of basic and diluted net income per share attributable to Deere & Company follows in millions, except per share amounts: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Net income attributable to Deere & Company $ 666 $ 1,135 $ 1,182 $ 1,633 Average shares outstanding 313.2 317.9 313.3 318.1 Basic per share $ 2.13 $ 3.57 $ 3.77 $ 5.13 Average shares outstanding 313.2 317.9 313.3 318.1 Effect of dilutive share-based compensation 3.0 4.3 3.4 4.3 Total potential shares outstanding 316.2 322.2 316.7 322.4 Diluted per share $ 2.11 $ 3.52 $ 3.73 $ 5.07 During the second quarter and first six months of 2020, 1.0 million shares and .6 million shares, respectively, were excluded from the computation because the incremental shares would have been antidilutive. During the second quarter and first six months of 2019, .6 million shares and .6 million shares, respectively, were excluded from the above per share computation.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
PENSION AND OTHER POSTRETIREMENT BENEFITS	May 03, 2020
PENSION AND OTHER POSTRETIREMENT BENEFITS
PENSION AND OTHER POSTRETIREMENT BENEFITS	(8) Pension and Other Postretirement Benefits The Company has several defined benefit pension plans and postretirement benefit (OPEB) plans, primarily health care and life insurance plans, covering its U.S. employees and employees in certain foreign countries. The worldwide components of net periodic pension cost consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Service cost $ 77 $ 66 $ 161 $ 132 Interest cost 87 111 174 222 Expected return on plan assets (204) (200) (409) (400) Amortization of actuarial loss 62 36 124 71 Amortization of prior service cost 3 3 6 6 Settlements 3 6 Net cost $ 28 $ 16 $ 62 $ 31 The worldwide components of net periodic OPEB cost consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Service cost $ 12 $ 10 $ 24 $ 20 Interest cost 35 53 72 107 Expected return on plan assets (12) (9) (24) (18) Amortization of actuarial loss 7 3 14 8 Amortization of prior service credit (1) (18) (2) (36) Curtailments 21 Net cost $ 41 $ 39 $ 105 $ 81 The components of net periodic pension and OPEB costs excluding the service cost component are included in the line item “Other operating expenses” in the statement of consolidated income. In the first quarter of 2020, the Company remeasured the U.S. OPEB health care plans. The wage plan was remeasured due to the U.S. enactment of the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) that repealed the health insurance provider fee effective in 2021. The salary plans were remeasured due to the U.S. voluntary employee-separation program (see Note 20), which resulted in a $21 million curtailment loss. The combined effect of the remeasurements was to reduce the benefit obligation by $245 million. During the first six months of 2020, the Company contributed approximately $42 million to its pension plans and $66 million to its OPEB plans. The Company presently anticipates contributing an additional $50 million to its pension plans and $69 million to its OPEB plans during the remainder of fiscal year 2020. These contributions primarily include direct benefit payments from Company funds.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	May 03, 2020
INCOME TAXES
INCOME TAXES	(9) Income Taxes The lower effective tax rate in the first six months of 2020 primarily resulted from two discrete items. In January 2020, the Company changed the corporate structure of two foreign holding subsidiaries to be indirect branches of Deere & Company. The change in tax status generated a capital loss that will be carried back in the Company’s U.S. income tax return resulting in a $43 million benefit. In addition, a discrete benefit of $28 million was recognized for the excess tax benefits related to vesting or exercise of share-based compensation awards. The Company’s unrecognized tax benefits at May 3, 2020, November 3, 2019, and April 28, 2019 were $610 million, $553 million, and $285 million. The liability at May 3, 2020, November 3, 2019, and April 28, 2019 consisted of approximately $145 million, $153 million, and $133 million, respectively, which would affect the effective tax rate if the tax benefits were recognized. The increase from the prior year primarily relates to the interpretation of a repatriation tax regulation for fiscal year end companies. The remaining liability was related to tax positions for which there are offsetting tax receivables, or the uncertainty was only related to timing. The Company expects that any reasonably possible change in the amounts of unrecognized tax benefits in the next 12 months would not be significant.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
SEGMENT REPORTING	May 03, 2020
SEGMENT REPORTING
SEGMENT REPORTING	(10) Segment Reporting Worldwide net sales and revenues, operating profit, and identifiable assets by segment in millions of dollars follow: Three Months Ended Six Months Ended May 3 April 28 % May 3 April 28 % 2020 2019 Change 2020 2019 Change Net sales and revenues: Agriculture and turf $ 5,968 $ 7,282 -18 $ 10,455 $ 11,963 -13 Construction and forestry 2,256 2,991 -25 4,299 5,251 -18 Total net sales 8,224 10,273 -20 14,754 17,214 -14 Financial services 875 886 -1 1,806 1,741 +4 Other revenues 154 183 -16 324 371 -13 Total net sales and revenues $ 9,253 $ 11,342 -18 $ 16,884 $ 19,326 -13 Operating profit: * Agriculture and turf $ 794 $ 1,019 -22 $ 1,167 $ 1,367 -15 Construction and forestry 96 347 -72 189 576 -67 Financial services 75 170 -56 254 362 -30 Total operating profit 965 1,536 -37 1,610 2,305 -30 Reconciling items ** (54) (58) -7 (133) (144) -8 Income taxes (245) (343) -29 (295) (528) -44 Net income attributable to Deere & Company $ 666 $ 1,135 -41 $ 1,182 $ 1,633 -28 Intersegment sales and revenues: Agriculture and turf net sales $ 8 $ 10 -20 $ 15 $ 18 -17 Construction and forestry net sales 1 Financial services 93 96 -3 159 168 -5 Equipment operations outside the U.S. and Canada: Net sales $ 3,226 $ 4,141 -22 $ 6,006 $ 6,959 -14 Operating profit 184 482 -62 408 658 -38 May 3 November 3 2020 2019 Identifiable assets: Agriculture and turf $ 10,378 $ 10,379 Construction and forestry 9,336 9,387 -1 Financial services 48,664 48,483 Corporate 8,948 4,762 +88 Total assets $ 77,326 $ 73,011 +6 * ** Reconciling items are primarily corporate expenses, certain external interest expense, certain foreign exchange gains and losses, pension and postretirement benefit costs excluding the service cost component, and net income attributable to noncontrolling interests.

FINANCING RECEIVABLES

FINANCING RECEIVABLES	6 Months Ended
FINANCING RECEIVABLES	May 03, 2020
FINANCING RECEIVABLES
FINANCING RECEIVABLES	(11) Financing Receivables Past due balances of financing receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date. Non-performing financing receivables represent loans for which the Company has ceased accruing finance income. The Company ceases accruing finance income when these receivables are generally 90 days delinquent. Generally, when receivables are 120 days delinquent the estimated uncollectible amount, after charging the dealer’s withholding account, if any, is written off to the allowance for credit losses. Finance income for non-performing receivables is recognized on a cash basis. Accrual of finance income is generally resumed when the receivable becomes contractually current and collections are reasonably assured. Due to the significant, negative effects of COVID on dealers and retail customers, the Company provided short-term payment relief to dealers and retail customers on financing receivables, which includes retail notes, wholesale notes, revolving charge accounts, and sales-type and direct financing leases. The relief was provided in regional programs and case-by-case situations with customers that were generally current in their payment obligations. This relief generally included payment deferrals or reduced financing rates of three months or less. The balance of financing receivables granted relief was approximately 3 percent of the total financing receivable balance at May 3, 2020. An age analysis of past due financing receivables that are still accruing interest and non-performing financing receivables in millions of dollars follows: May 3, 2020 90 Days 30-59 Days 60-89 Days or Greater Total Past Due Past Due Past Due Past Due Retail Notes: Agriculture and turf $ 188 $ 94 $ 2 $ 284 Construction and forestry 116 49 18 183 Other: Agriculture and turf 59 22 1 82 Construction and forestry 62 11 73 Total $ 425 $ 176 $ 21 $ 622 Total Total Total Financing Past Due Non-Performing Current Receivables Retail Notes: Agriculture and turf $ 284 $ 291 $ 18,308 $ 18,883 Construction and forestry 183 144 3,409 3,736 Other: Agriculture and turf 82 123 7,856 8,061 Construction and forestry 73 35 1,348 1,456 Total $ 622 $ 593 $ 30,921 32,136 Less allowance for credit losses 195 Total financing receivables – net $ 31,941 November 3, 2019 90 Days 30-59 Days 60-89 Days or Greater Total Past Due Past Due Past Due Past Due Retail Notes: Agriculture and turf $ 138 $ 73 $ 1 $ 212 Construction and forestry 79 29 4 112 Other: Agriculture and turf 39 19 1 59 Construction and forestry 26 7 33 Total $ 282 $ 128 $ 6 $ 416 Total Total Total Financing Past Due Non-Performing Current Receivables Retail Notes: Agriculture and turf $ 212 $ 268 $ 18,931 $ 19,411 Construction and forestry 112 127 3,450 3,689 Other: Agriculture and turf 59 28 8,986 9,073 Construction and forestry 33 26 1,496 1,555 Total $ 416 $ 449 $ 32,863 33,728 Less allowance for credit losses 150 Total financing receivables – net $ 33,578 April 28, 2019 90 Days 30-59 Days 60-89 Days or Greater Total Past Due Past Due Past Due Past Due Retail Notes: Agriculture and turf $ 139 $ 73 $ 1 $ 213 Construction and forestry 90 40 1 131 Other: Agriculture and turf 33 16 49 Construction and forestry 19 4 23 Total $ 281 $ 133 $ 2 $ 416 Total Total Total Financing Past Due Non-Performing Current Receivables Retail Notes: Agriculture and turf $ 213 $ 293 $ 17,644 $ 18,150 Construction and forestry 131 124 3,120 3,375 Other: Agriculture and turf 49 67 7,861 7,977 Construction and forestry 23 10 1,331 1,364 Total $ 416 $ 494 $ 29,956 30,866 Less allowance for credit losses 182 Total financing receivables – net $ 30,684 An analysis of the allowance for credit losses and investment in financing receivables in millions of dollars during the periods follows: Revolving Retail Charge Notes Accounts Other Total Three Months Ended May 3, 2020 Allowance: Beginning of period balance $ 88 $ 40 $ 29 $ 157 Provision 58 20 7 85 Write-offs (24) (23) (2) (49) Recoveries 3 6 9 Translation adjustments (6) (1) (7) End of period balance * $ 119 $ 43 $ 33 $ 195 Six Months Ended May 3, 2020 Allowance: Beginning of period balance $ 89 $ 40 $ 21 $ 150 Provision 74 18 14 106 Write-offs (41) (29) (4) (74) Recoveries 5 14 1 20 Translation adjustments (8) 1 (7) End of period balance * $ 119 $ 43 $ 33 $ 195 Financing receivables: End of period balance $ 22,619 $ 3,454 $ 6,063 $ 32,136 Balance individually evaluated ** $ 157 $ 83 $ 240 * Individual allowances were not significant. ** Remainder is collectively evaluated. The negative economic effects related to COVID and other macroeconomic issues have significantly affected certain retail borrowers, particularly of construction equipment. As a result, the allowance for credit losses increased $38 million in the second quarter of 2020 reflecting estimated credit losses inherent in the financing receivables. Revolving Retail Charge Notes Accounts Other Total Three Months Ended April 28, 2019 Allowance: Beginning of period balance $ 111 $ 43 $ 23 $ 177 Provision 9 17 3 29 Write-offs (9) (22) (2) (33) Recoveries 6 5 11 Translation adjustments (2) (2) End of period balance * $ 115 $ 43 $ 24 $ 182 Six Months Ended April 28, 2019 Allowance: Beginning of period balance $ 113 $ 43 $ 22 $ 178 Provision 15 16 5 36 Write-offs (20) (26) (3) (49) Recoveries 10 10 20 Translation adjustments (3) (3) End of period balance * $ 115 $ 43 $ 24 $ 182 Financing receivables: End of period balance $ 21,525 $ 3,299 $ 6,042 $ 30,866 Balance individually evaluated ** $ 151 $ 2 $ 15 $ 168 * ** Remainder is collectively evaluated. Financing receivables are considered impaired when it is probable the Company will be unable to collect all amounts due according to the contractual terms. Receivables reviewed for impairment generally include those that are either past due, or have provided bankruptcy notification, or require significant collection efforts. Receivables that are impaired are generally classified as non-performing. An analysis of the impaired financing receivables in millions of dollars follows: Unpaid Average Recorded Principal Specific Recorded Investment Balance Allowance Investment May 3, 2020* Receivables with specific allowance * $ 106 $ 104 $ 23 $ 113 Receivables without a specific allowance 35 34 38 Total $ 141 $ 138 $ 23 $ 151 Agriculture and turf $ 113 $ 111 $ 18 $ 121 Construction and forestry $ 28 $ 27 $ 5 $ 30 November 3, 2019* Receivables with specific allowance $ 40 $ 39 $ 13 $ 40 Receivables without a specific allowance 32 31 37 Total $ 72 $ 70 $ 13 $ 77 Agriculture and turf $ 49 $ 48 $ 8 $ 52 Construction and forestry $ 23 $ 22 $ 5 $ 25 April 28, 2019* Receivables with specific allowance $ 35 $ 34 $ 14 $ 36 Receivables without a specific allowance 37 35 39 Total $ 72 $ 69 $ 14 $ 75 Agriculture and turf $ 54 $ 53 $ 11 $ 57 Construction and forestry $ 18 $ 16 $ 3 $ 18 * * Primarily retail notes and wholesale receivables. A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity dates, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest. During the first six months of 2020, the Company identified 259 receivable contracts, primarily wholesale receivables in Argentina, as troubled debt restructurings with aggregate balances of $94 million pre-modification and $83 million post-modification. The short-term payment relief related to COVID, mentioned earlier, did not meet the definition of a troubled debt restructuring. During the first six months of 2019, there were 219 financing receivable contracts, primarily retail notes, identified as troubled debt restructurings with aggregate balances of $7 million pre-modification and $7 million post-modification. During these same periods, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At May 3, 2020, the Company had commitments to lend approximately $13 million to borrowers whose accounts were modified in troubled debt restructurings.

SECURITIZATION OF FINANCING REC

SECURITIZATION OF FINANCING RECEIVABLES	6 Months Ended
SECURITIZATION OF FINANCING RECEIVABLES	May 03, 2020
SECURITIZATION OF FINANCING RECEIVABLES
SECURITIZATION OF FINANCING RECEIVABLES	(12) Securitization of Financing Receivables The Company, as a part of its overall funding strategy, periodically transfers certain financing receivables (retail notes) into VIEs that are special purpose entities (SPEs), or non-VIE banking operations, as part of its asset-backed securities programs (securitizations). The structure of these transactions is such that the transfer of the retail notes did not meet the accounting criteria for sales of receivables, and is, therefore, accounted for as a secured borrowing. SPEs utilized in securitizations of retail notes differ from other entities included in the Company’s consolidated statements because the assets they hold are legally isolated. Use of the assets held by the SPEs or the non-VIEs is restricted by terms of the documents governing the securitization transactions. In these securitizations, the retail notes are transferred to certain SPEs or to non-VIE banking operations, which in turn issue debt to investors. The debt securities issued to the third party investors resulted in secured borrowings, which are recorded as “Short-term securitization borrowings” on the balance sheet. The securitized retail notes are recorded as “Financing receivables securitized – net” on the balance sheet. The total restricted assets on the consolidated balance sheet related to these securitizations include the financing receivables securitized less an allowance for credit losses, and other assets primarily representing restricted cash. Restricted cash results from contractual requirements in securitized borrowing arrangements and serves as a credit enhancement. The restricted cash is used to satisfy payment deficiencies, if any, in the required payments on secured borrowings. The balance of restricted cash is contractually stipulated and is either a fixed amount as determined by the initial balance of the financing receivables securitized or a fixed percentage of the outstanding balance of the securitized financing receivables. The restriction is removed either after all secured borrowing payments are made or proportionally as these receivables are collected and borrowing obligations reduced. For those securitizations in which retail notes are transferred into SPEs, the SPEs supporting the secured borrowings are consolidated unless the Company does not have both the power to direct the activities that most significantly impact the SPEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the SPEs. No additional support to these SPEs beyond what was previously contractually required has been provided during the reporting periods. In certain securitizations, the Company consolidates the SPEs since it has both the power to direct the activities that most significantly impact the SPEs’ economic performance through its role as servicer of all the receivables held by the SPEs and the obligation through variable interests in the SPEs to absorb losses or receive benefits that could potentially be significant to the SPEs. The restricted assets (retail notes securitized, allowance for credit losses, and other assets) of the consolidated SPEs totaled $3,017 million, $2,895 million, and $2,771 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively. The liabilities (short-term securitization borrowings and accrued interest) of these SPEs totaled $2,977 million, $2,847 million, and $2,693 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively. The credit holders of these SPEs do not have legal recourse to the Company’s general credit. In certain securitizations, the Company transfers retail notes to non-VIE banking operations, which are not consolidated since the Company does not have a controlling interest in the entities. The Company’s carrying values and interests related to the securitizations with the unconsolidated non-VIEs were restricted assets (retail notes securitized, allowance for credit losses, and other assets) of $542 million, $491 million, and $671 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively. The liabilities (short-term securitization borrowings and accrued interest) were $515 million, $465 million, and $631 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively. In certain securitizations, the Company transfers retail notes into bank-sponsored, multi-seller, commercial paper conduits, which are SPEs that are not consolidated. The Company does not service a significant portion of the conduits’ receivables, and therefore, does not have the power to direct the activities that most significantly impact the conduits’ economic performance. These conduits provide a funding source to the Company (as well as other transferors into the conduit) as they fund the retail notes through the issuance of commercial paper. The Company’s carrying values and variable interest related to these conduits were restricted assets (retail notes securitized, allowance for credit losses, and other assets) of $1,221 million, $1,079 million, and $1,477 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively. The liabilities (short-term securitization borrowings and accrued interest) related to these conduits were $1,154 million, $1,015 million, and $1,382 million at May 3, 2020, November 3, 2019, and April 28, 2019, respectively. The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets, was as follows in millions of dollars: May 3, 2020 Carrying value of liabilities $ 1,154 Maximum exposure to loss 1,221 The total assets of unconsolidated VIEs related to securitizations were approximately $37 billion at May 3, 2020. The components of consolidated restricted assets related to secured borrowings in securitization transactions follow in millions of dollars: May 3 November 3 April 28 2020 2019 2019 Financing receivables securitized (retail notes) $ 4,703 $ 4,395 $ 4,826 Allowance for credit losses (18) (12) (12) Other assets 95 82 105 Total restricted securitized assets $ 4,780 $ 4,465 $ 4,919 The components of consolidated secured borrowings and other liabilities related to securitizations follow in millions of dollars: May 3 November 3 April 28 2020 2019 2019 Short-term securitization borrowings $ 4,640 $ 4,321 $ 4,702 Accrued interest on borrowings 6 6 4 Total liabilities related to restricted securitized assets $ 4,646 $ 4,327 $ 4,706 The secured borrowings related to these restricted securitized retail notes are obligations that are payable as the retail notes are liquidated. Repayment of the secured borrowings depends primarily on cash flows generated by the restricted assets. Due to the Company’s short-term credit rating, cash collections from these restricted assets are not required to be placed into a segregated collection account until immediately prior to the time payment is required to the secured creditors. At May 3, 2020, the maximum remaining term of all securitized retail notes was approximately seven years.

INVENTORIES

INVENTORIES	6 Months Ended
INVENTORIES	May 03, 2020
INVENTORIES
INVENTORIES	(13) Inventories Most inventories owned by Deere & Company and its U.S. equipment subsidiaries and certain foreign equipment subsidiaries are valued at cost on the “last-in, first-out” (LIFO) method. If all of the Company’s inventories had been valued on a “first-in, first-out” (FIFO) method, estimated inventories by major classification in millions of dollars would have been as follows: May 3 November 3 April 28 2020 2019 2019 Raw materials and supplies $ 2,394 $ 2,285 $ 2,424 Work-in-process 722 747 873 Finished goods and parts 4,646 4,613 5,729 Total FIFO value 7,762 7,645 9,026 Less adjustment to LIFO value 1,591 1,670 1,865 Inventories $ 6,171 $ 5,975 $ 7,161

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS-NET	6 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS-NET	May 03, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS-NET
GOODWILL AND OTHER INTANGIBLE ASSETS-NET	(14) Goodwill and Other Intangible Assets – Net The changes in amounts of goodwill by operating segments were as follows in millions of dollars: Agriculture Construction and Turf and Forestry Total Goodwill at October 28, 2018 $ 583 $ 2,518 $ 3,101 Translation adjustments and other (2) (74) (76) Goodwill at April 28, 2019 $ 581 $ 2,444 $ 3,025 Goodwill at November 3, 2019 $ 574 $ 2,343 $ 2,917 Translation adjustments and other (9) 9 Goodwill at May 3, 2020 $ 565 $ 2,352 $ 2,917 There were no accumulated impairment losses in the reported periods. The components of other intangible assets were as follows in millions of dollars: May 3 November 3 April 28 2020 2019 2019 Amortized intangible assets: Customer lists and relationships $ 509 $ 511 $ 528 Technology, patents, trademarks, and other 1,006 1,028 1,059 Total at cost 1,515 1,539 1,587 Less accumulated amortization * 327 282 234 Total 1,188 1,257 1,353 Unamortized intangible assets: In-process research and development 123 123 123 Other intangible assets – net $ 1,311 $ 1,380 $ 1,476 * The amortization of other intangible assets in the second quarter and the first six months of 2020 was $26 million and $51 million and for 2019 was $29 million and $57 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2020 – $50, 2021 – $100, 2022 – $99, 2023 – $97, and 2024 – $95. As outlined in the 2019 Form 10-K, goodwill is tested for impairment annually and when events or circumstances change such that it is more likely than not that the fair value of a reporting unit is reduced below its carrying value. The annual measurement date is the end of the third quarter. In the second quarter of 2020, for each significant reporting unit the Company reviewed previous fair value analyses considering the uncertain and unknown economic effects of COVID. The Company concluded that an impairment was not required. The intangible assets subject to amortization were also considered to determine if the carrying amount may not be recoverable. The Company concluded the carrying amount would be recovered based on current estimates. These positions will be evaluated in future quarters, as necessary.

LEASES

LEASES	6 Months Ended
LEASES	May 03, 2020
LEASES
LEASES	(15) Leases The Company is both a lessee and a lessor. The Company leases for its own use, under leases with expected use periods generally ranging from less than one year to 20 years, primarily warehouse facilities, office space, production equipment, information technology equipment, and vehicles. The Company’s financial services segment leases to users equipment produced or sold by the Company. These leases are usually written for periods of less than one year to seven years. The Company determines if an arrangement is or contains a lease at the contract inception. Lessee The Company recognizes on the balance sheet a lease liability and a right of use asset for leases with a term greater than 12 months for both operating and finance leases. The amounts of the lease liability and right of use asset are determined at lease commencement and are based on the present value of the lease payments over the lease term. The lease payments are discounted using the Company’s incremental borrowing rate since the rate implicit in the lease is generally not readily determinable. The Company determines the incremental borrowing rate for each lease based primarily on the lease term and the economic environment of the country where the asset will be used, adjusted as if the borrowings were collateralized. Leases with contractual periods greater than 12 months and that do not meet the finance lease criteria are classified as operating leases. Certain real estate leases contain one or more options to terminate or renew, with terms that can generally extend the lease term from one The Company has elected to combine lease and non-lease components, such as maintenance and utilities costs included in a lease contract, for all asset classes. Leases with an initial term of 12 months or less are expensed on a straight-line basis over the lease term and recorded in short-term lease expense. Variable lease expense primarily includes warehouse facilities leases with payments based on utilization exceeding contractual minimum amounts and leases with payments indexed to inflation when the index changes after lease commencement. The lease expense by type consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3, 2020 May 3, 2020 Operating lease expense $ 31 $ 63 Short-term lease expense 6 10 Variable lease expense 10 20 Finance lease: Depreciation expense 2 7 Interest on lease liabilities 1 1 Total lease expense $ 50 $ 101 Operating and finance lease right of use assets and liabilities follow in millions of dollars: May 3, 2020 Operating leases Other assets $ 341 Accounts payable and accrued expenses 319 Finance leases Property and equipment — net $ 43 Short-term borrowings 13 Long-term borrowings 26 Total finance lease liabilities $ 39 The weighted-average remaining lease term in years and discount rates follows: May 3, 2020 Weighted-average remaining lease terms: Operating leases 7 Finance leases 3 Weighted-average discount rate: Operating leases 2.4% Finance leases 2.9% Lease payment amounts in each of the next five years at May 3, 2020 follow in millions of dollars: Operating Finance Due in: Leases Leases Remainder of 2020 $ 59 $ 7 2021 79 13 2022 67 10 2023 46 5 2024 35 3 2025 19 1 Later years 35 3 Total lease payments 340 42 Less imputed interest 21 3 Total lease liabilities $ 319 $ 39 Future minimum lease payments under the previous lease standard for operating and finance leases at November 3, 2019 follow in millions of dollars: Operating Capital Due in: Leases Leases 2020 $ 111 $ 12 2021 77 10 2022 56 6 2023 39 2 2024 28 1 Later years 26 1 Total minimum lease payments $ 337 $ 32 Cash paid for amounts included in the measurement of lease liabilities: Six Months Ended May 3, 2020 Operating cash flows from operating leases $ 64 Operating cash flows from finance leases 1 Financing cash flows from finance leases 9 Right of use assets obtained in exchange for lease liabilities: Six Months Ended May 3, 2020 Operating leases $ 10 Finance leases 18 Lessor The Company leases equipment manufactured or sold by the Company and a limited amount of non-Deere equipment to retail customers through sales-type, direct financing, and operating leases. Sales-type and direct financing leases are reported in “Financing receivables - net” on the consolidated balance sheet. Operating leases are reported in “Equipment on operating leases - net” on the consolidated balance sheet. Leases offered by the Company may include early termination and renewal options. At the end of a lease, the lessee generally has the option to purchase the underlying equipment for a fixed price or return it to the dealer. If the equipment is returned to the dealer, the dealer also has the option to purchase the equipment or return it to the Company for remarketing. The Company estimates the residual values for operating leases at lease inception based on several factors, including lease term, expected hours of usage, historical wholesale sale prices, return experience, intended use of the equipment, market dynamics and trends, and dealer residual guarantees. The Company reviews residual value estimates during the lease term and tests the carrying value of its operating lease assets for impairment when events or circumstances necessitate. The depreciation is adjusted on a straight-line basis over the remaining lease term if residual value estimates decline. Lease agreements include usage limits and specifications on machine condition, which allow the Company to assess lessees for excess use or damages to the underlying equipment. In the second quarter of 2020, the Company recorded impairment losses on operating leases of $22 million due to higher expected equipment return rates and lower estimated values of used construction equipment. Operating lease impairments are recorded in “Other operating expenses.” The Company has elected to combine lease and nonlease components. The nonlease components primarily relate to preventative maintenance and extended warranty agreements financed by the retail customer. The Company has also elected to report consideration related to sales and value added taxes net of the related tax expense. Property taxes on leased assets are recorded on a gross basis in “Finance and interest income” and “Other operating expenses” on the statement of consolidated income. Variable lease revenues primarily relate to property taxes on leased assets in certain markets and late fees. Due to the significant, negative effects of COVID, the Company provided short-term relief to lessees during the second quarter of 2020. The relief, which included payment deferrals of three months or less, was provided in regional programs and on a case-by-case basis and primarily related to construction accounts. The operating leases granted relief represented approximately 2 percent of the Company’s operating lease portfolio at May 3, 2020. See Note 11 for sales-type and direct finance leases provided payment relief. Lease revenues earned by the Company were as follows in millions of dollars: Three Months Ended Six Months Ended May 3, 2020 May 3, 2020 Sales-type and direct finance lease revenues $ 32 $ 68 Operating lease revenues 369 743 Variable lease revenues 6 11 Total lease revenues $ 407 $ 822 At the time of accepting a lease that qualifies as a sales-type or direct financing lease, the Company records the gross amount of lease payments receivable, estimated residual value of the leased equipment, and unearned finance income. The unearned finance income is recognized as revenue over the lease term using the interest method. Sales-type and direct financing lease receivables by product category were as follows in millions of dollars: May 3 November 3 2020 2019 Agriculture and turf $ 792 $ 897 Construction and forestry 923 1,033 Total 1,715 1,930 Guaranteed residual values 175 232 Unguaranteed residual values 92 101 Less unearned finance income 197 212 Financing leases receivables $ 1,785 $ 2,051 Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at May 3, 2020 follow in millions of dollars: May 3 Due in: 2020 Remainder of 2020 $ 460 2021 670 2022 409 2023 213 2024 103 2025 27 Later years 8 Total $ 1,890 Scheduled payments on financing lease receivables under the previous lease standard at November 3, 2019 follow in millions of dollars: November 3 Due in: 2019 2020 $ 833 2021 557 2022 321 2023 153 2024 53 Later years 13 Total $ 1,930 Lease payments from operating leases are recorded as income on a straight-line method over the lease terms. Operating lease assets are recorded at cost and depreciated to their estimated residual value on a straight-line method over the terms of the leases. The cost of equipment on operating leases by product category was as follows in millions of dollars: May 3 November 3 2020 2019 Agriculture and turf $ 7,080 $ 7,257 Construction and forestry 2,097 2,165 Total 9,177 9,422 Less accumulated depreciation 1,932 1,855 Equipment on operating leases - net $ 7,245 $ 7,567 The total operating lease residual values at May 3, 2020 and November 3, 2019 were $5,181 million and $5,259 million, respectively. Certain operating leases are subject to residual value guarantees. The total residual value guarantees were $633 million and $647 million at May 3, 2020 and November 3, 2019, respectively. Lease payments for equipment on operating leases at May 3, 2020 were scheduled as follows in millions of dollars: May 3 Due in: 2020 Remainder of 2020 $ 563 2021 932 2022 573 2023 282 2024 107 2025 7 Total $ 2,464 Rental payments for equipment on operating leases under the previous lease standard at November 3, 2019 were scheduled as follows in millions of dollars: November 3 Due in: 2019 2020 $ 1,086 2021 759 2022 419 2023 193 2024 41 Total $ 2,498 The Company discusses with lessees and dealers options to purchase the equipment or extend the lease prior to lease maturity. Equipment returned to the Company upon termination of leases is remarketed by the Company. In the second quarter of 2020, the Company recorded impairment losses on matured operating lease inventory of $10 million due to lower estimated values of used construction equipment. Impairment losses on matured operating lease inventory are included in “Other operating expenses.” The matured operating lease inventory balances at May 3, 2020 and November 3, 2019 were $104 million and $163 million, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	May 03, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	(16) Commitments and Contingencies The Company generally determines its total warranty liability by applying historical claims rate experience to the estimated amount of equipment that has been sold and is still under warranty based on dealer inventories and retail sales. The historical claims rate is primarily determined by a review of five-year claims costs and current quality developments. The premiums for extended warranties are primarily recognized in income in proportion to the costs expected to be incurred over the contract period. These unamortized extended warranty premiums (deferred revenue) included in the following table totaled $602 million and $525 million at May 3, 2020 and April 28, 2019, respectively. A reconciliation of the changes in the warranty liability and unearned premiums in millions of dollars follows: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Beginning of period balance $ 1,792 $ 1,687 $ 1,800 $ 1,652 Payments (223) (234) (453) (462) Amortization of premiums received (51) (56) (110) (111) Accruals for warranties 210 256 432 510 Premiums received 69 69 134 134 Foreign exchange (30) (8) (36) (9) End of period balance $ 1,767 $ 1,714 $ 1,767 $ 1,714 At May 3, 2020, the Company had approximately $321 million of guarantees issued primarily to banks outside the U.S. and Canada related to third-party receivables for the retail financing of John Deere equipment. The Company may recover a portion of any required payments incurred under these agreements from repossession of the equipment collateralizing the receivables. At May 3, 2020, the Company had accrued losses of approximately $12 million under these agreements. The maximum remaining term of the receivables guaranteed at May 3, 2020 was approximately six years. At May 3, 2020, the Company had commitments of approximately $254 million for the construction and acquisition of property and equipment. Also, at May 3, 2020, the Company had restricted assets of $75 million, primarily as collateral for borrowings and restricted other assets. See Note 12 for additional restricted assets associated with borrowings related to securitizations. The Company also had other miscellaneous contingent liabilities totaling approximately $45 million at May 3, 2020. The accrued liability for these contingencies was not material at May 3, 2020. The Company is subject to various unresolved legal actions which arise in the normal course of its business, the most prevalent of which relate to product liability (including asbestos-related liability), retail credit, employment, patent, and trademark matters. The Company believes the reasonably possible range of losses for these unresolved legal actions would not have a material effect on its consolidated financial statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
FAIR VALUE MEASUREMENTS	May 03, 2020
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	(17) Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, the Company uses various methods including market and income approaches. The Company utilizes valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied. Level 1 measurements consist of quoted prices in active markets for identical assets or liabilities. Level 2 measurements include significant other observable inputs such as quoted prices for similar assets or liabilities in active markets; identical assets or liabilities in inactive markets; observable inputs such as interest rates and yield curves; and other market-corroborated inputs. Level 3 measurements include significant unobservable inputs. The fair values of financial instruments that do not approximate the carrying values in millions of dollars follow: May 3, 2020 November 3, 2019 April 28, 2019 Carrying Fair Carrying Fair Carrying Fair Financing receivables – net: Equipment operations $ 118 $ 111 $ 65 $ 61 $ 102 $ 95 Financial services 27,138 27,317 29,130 29,106 25,768 25,697 Total $ 27,256 $ 27,428 $ 29,195 $ 29,167 $ 25,870 $ 25,792 Financing receivables securitized – net: Equipment operations $ 37 $ 35 $ 44 $ 43 $ 59 $ 57 Financial services 4,648 4,722 4,339 4,362 4,755 4,726 Total $ 4,685 $ 4,757 $ 4,383 $ 4,405 $ 4,814 $ 4,783 Short-term Equipment operations $ 37 $ 37 $ 44 $ 45 $ 58 $ 58 Financial services 4,603 4,632 4,277 4,302 4,644 4,653 Total $ 4,640 $ 4,669 $ 4,321 $ 4,347 $ 4,702 $ 4,711 Long-term borrowings due within one year: Equipment operations $ 480 $ 477 $ 642 $ 645 $ 982 $ 987 Financial services 6,587 6,609 6,786 6,788 5,321 5,305 Total $ 7,067 $ 7,086 $ 7,428 $ 7,433 $ 6,303 $ 6,292 Long-term borrowings: Equipment operations $ 9,921 $ 11,192 $ 5,415 $ 6,138 $ 4,679 $ 5,110 Financial services 24,377 24,537 24,814 25,122 23,576 23,805 Total $ 34,298 $ 35,729 $ 30,229 $ 31,260 $ 28,255 $ 28,915 * ** Carrying values exclude finance lease liabilities that are presented as borrowings beginning in 2020 (see Notes 3 and 15). Fair values of the financing receivables that were issued long-term were based on the discounted values of their related cash flows at interest rates currently being offered by the Company for similar financing receivables. The fair values of the remaining financing receivables approximated the carrying amounts. Fair values of long-term borrowings and short-term securitization borrowings were based on current market quotes for identical or similar borrowings and credit risk, or on the discounted values of their related cash flows at current market interest rates. Certain long-term borrowings have been swapped to current variable interest rates. The carrying values of these long-term borrowings included adjustments related to fair value hedges. Assets and liabilities measured at fair value on a recurring basis in millions of dollars follow: May 3 November 3 April 28 2020 2019 2019 Level 1: Marketable securities International equity securities $ 2 Equity fund * 62 $ 59 $ 58 U.S. government debt securities 50 50 44 Total Level 1 marketable securities 114 109 102 Level 2: Marketable securities U.S. government debt securities 104 81 73 Municipal debt securities 63 60 55 Corporate debt securities 177 165 148 International debt securities 2 5 9 Mortgage-backed securities ** 165 160 154 Total Level 2 marketable securities 511 471 439 Other assets Derivatives: Interest rate contracts 842 363 139 Foreign exchange contracts 92 20 99 Cross-currency interest rate contracts 17 1 2 Total Level 2 other assets 951 384 240 Accounts payable and accrued expenses Derivatives: Interest rate contracts 131 65 165 Foreign exchange contracts 68 71 48 Cross-currency interest rate contracts 3 2 Total Level 2 accounts payable and accrued expenses 199 139 215 Level 3: Marketable securities International debt securities 1 1 4 * During the second quarter of 2020 and 2019, net unrealized gains/(losses) on equity securities of $(8) million and $5 million, respectively, were recorded in “Other income.” During the first six months of 2020 and 2019, net unrealized gains/(losses) on equity securities were $(2) million and $5 million, respectively. The contractual maturities of debt securities at May 3, 2020 in millions of dollars are shown below. Actual maturities may differ from those scheduled as a result of prepayments by the issuers. Because of the potential for prepayment on mortgage-backed securities, they are not categorized by contractual maturity. Amortized Fair Cost Value Due in one year or less $ 21 $ 17 Due after one through five years 98 102 Due after five through 10 years 99 109 Due after 10 years 157 169 Mortgage-backed securities 156 165 Debt securities $ 531 $ 562 Fair value, recurring Level 3 measurements from available-for-sale marketable securities in millions of dollars follow: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Beginning of period balance $ 1 $ 6 $ 1 $ 8 Principal payments (2) (5) Other 1 End of period balance $ 1 $ 4 $ 1 $ 4 Fair value, nonrecurring measurements from impairments in millions of dollars follow: Fair Value Losses Three Months Ended Six Months Ended May 3 November 3 April 28 May 3 April 28 May 3 April 28 2020 2019 2019 2020 2019 2020 2019 Equipment on operating leases – net $ 371 $ 855 $ 22 $ 22 Property and equipment – net $ 70 $ 62 $ 62 Investments in unconsolidated affiliates $ 10 $ 20 $ 20 Other assets $ 59 $ 142 $ 10 $ 10 * The following is a description of the valuation methodologies the Company uses to measure certain financial instruments on the balance sheet at fair value: Marketable Securities – Derivatives – Financing Receivables – Specific reserve impairments are based on the fair value of the collateral, which is measured using a market approach (appraisal values or realizable values). Inputs include a selection of realizable values. Equipment on Operating Leases – Net – The impairments are based on an income approach (discounted cash flow), using the contractual payments, plus estimates of return rates and equipment sale price at lease maturity. Inputs include historic return rates and realized sales values (see Note 21). Property and Equipment – Net – The impairments are measured at the lower of the carrying amount, or fair value. The valuations were based on a cost approach. The inputs include replacement cost estimates adjusted for physical deterioration and economic obsolescence (see Note 21). Investment in Unconsolidated Affiliates – Other than temporary impairments for investments measured as the difference between the implied fair value and the carrying value of the investments. The fair value for publicly traded entities is the share price multiplied by the shares owned (see Note 21). Other Assets – The impairments are measured at the fair value of the matured operating lease inventory. The valuations were based on a market approach. The inputs include sales of comparable assets (see Note 21).

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
DERIVATIVE INSTRUMENTS	May 03, 2020
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS	(18) Derivative Instruments It is the Company’s policy that derivative transactions are executed only to manage exposures arising in the normal course of business and not for the purpose of creating speculative positions or trading. The Company’s financial services operations manage the relationship of the types and amounts of their funding sources to their receivable and lease portfolio in an effort to diminish risk due to interest rate and foreign currency fluctuations, while responding to favorable financing opportunities. The Company also has foreign currency exposures at some of its foreign and domestic operations related to buying, selling, and financing in currencies other than the functional currencies. In addition, the Company has interest rate exposure at certain equipment operations units for below market retail financing programs that are used as sales incentives and are offered for extended periods. All derivatives are recorded at fair value on the balance sheet. Cash collateral received or paid is not offset against the derivative fair values on the balance sheet. Each derivative is designated as a cash flow hedge, a fair value hedge, or remains undesignated. All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis the hedging instrument is assessed as to its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued. Cash Flow Hedges Certain interest rate contracts (swaps) were designated as hedges of future cash flows from borrowings. The total notional amounts of the receive-variable/pay-fixed interest rate contracts at May 3, 2020, November 3, 2019, and April 28, 2019 were $2,450 million, $3,150 million, and $2,800 million, respectively. Fair value gains or losses on cash flow hedges were recorded in OCI and are subsequently reclassified into interest expense in the same periods during which the hedged transactions affected earnings. These amounts offset the effects of interest rate changes on the related borrowings. The cash flows from these contracts were recorded in operating activities in the statement of consolidated cash flows. The amount of loss recorded in OCI at May 3, 2020 that is expected to be reclassified to interest expense or other operating expenses in the next twelve months if interest rates or exchange rates remain unchanged is approximately $17 million after-tax. There were no gains or losses reclassified from OCI to earnings based on the probability that the original forecasted transaction would not occur. Fair Value Hedges Certain interest rate contracts (swaps) were designated as fair value hedges of borrowings. The total notional amounts of the receive-fixed/pay-variable interest rate contracts at May 3, 2020, November 3, 2019, and April 28, 2019 were $8,983 million, $8,717 million, and $9,464 million, respectively. The fair value gains or losses on these contracts were generally offset by fair value gains or losses on the hedged items (fixed-rate borrowings) with both items recorded in interest expense. The amounts recorded in the consolidated balance sheet related to borrowings designated in fair value hedging relationships in millions of dollars follow: Cumulative Increase (Decrease) of Fair Value Hedging Adjustments Included in the Carrying Amount Carrying Active Amount of Hedging Discontinued Hedged Item Relationships Relationships Total May 3, 2020 Long-term borrowings due within one year* $ 214 $ (2) $ (2) Long-term borrowings 9,496 $ 726 36 762 November 3, 2019 Long-term borrowings due within one year* $ 412 $ (1) $ (4) $ (5) Long-term borrowings 8,532 295 (32) 263 April 28, 2019 Long-term borrowings due within one year* $ 190 $ 1 $ (4) $ (3) Long-term borrowings 9,169 (31) (38) (69) * Derivatives not designated as hedging instruments The Company has certain interest rate contracts (swaps), foreign exchange contracts (futures, forwards, and swaps), and cross-currency interest rate contracts (swaps), which were not formally designated as hedges. These derivatives were held as economic hedges for underlying interest rate or foreign currency exposures, primarily for certain borrowings, purchases or sales of inventory, and below market retail financing programs. The total notional amounts of these interest rate swaps at May 3, 2020, November 3, 2019, and April 28, 2019 were $7,975 million, $9,166 million, and $7,775 million, the foreign exchange contracts were $4,430 million, $4,962 million, and $7,123 million, and the cross-currency interest rate contracts were $89 million, $92 million, and $98 million, respectively. The fair value gains or losses from the interest rate contracts were recognized currently in interest expense and the gains or losses from foreign exchange contracts in cost of sales or other operating expenses, generally offsetting over time the expenses on the exposures being hedged. The cash flows from these non-designated contracts were recorded in operating activities in the statement of consolidated cash flows. Fair values of derivative instruments in the condensed consolidated balance sheet in millions of dollars follow: May 3 November 3 April 28 Other Assets 2020 2019 2019 Designated as hedging instruments: Interest rate contracts $ 758 $ 332 $ 105 Total designated 758 332 105 Not designated as hedging instruments: Interest rate contracts 84 31 34 Foreign exchange contracts 92 20 99 Cross-currency interest rate contracts 17 1 2 Total not designated 193 52 135 Total derivative assets $ 951 $ 384 $ 240 Accounts Payable and Accrued Expenses Designated as hedging instruments: Interest rate contracts $ 30 $ 28 $ 125 Total designated 30 28 125 Not designated as hedging instruments: Interest rate contracts 101 37 40 Foreign exchange contracts 68 71 48 Cross-currency interest rate contracts 3 2 Total not designated 169 111 90 Total derivative liabilities $ 199 $ 139 $ 215 The classification and gains (losses) including accrued interest expense related to derivative instruments on the statement of consolidated income consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Fair Value Hedges: Interest rate contracts - Interest expense $ 415 $ 141 $ 511 $ 274 Cash Flow Hedges Recognized in OCI Interest rate contracts - OCI (pretax) (15) (6) (17) (14) Reclassified from OCI Interest rate contracts - Interest expense (4) 3 (6) 5 Not Designated as Hedges: Interest rate contracts - Net sales $ (20) $ (7) $ (24) $ (17) Interest rate contracts - Interest expense * 1 (10) 3 (18) Foreign exchange contracts - Cost of sales 81 12 92 7 Foreign exchange contracts - Other operating * 175 80 174 100 Total not designated $ 237 $ 75 $ 245 $ 72 * Counterparty Risk and Collateral Derivative instruments are subject to significant concentrations of credit risk to the banking sector. The Company manages individual counterparty exposure by setting limits that consider the credit rating of the counterparty, the credit default swap spread of the counterparty, and other financial commitments and exposures between the Company and the counterparty banks. All interest rate derivatives are transacted under International Swaps and Derivatives Association (ISDA) documentation. Some of these agreements include credit support provisions. Each master agreement permits the net settlement of amounts owed in the event of default or termination. Certain of the Company’s derivative agreements contain credit support provisions that may require the Company to post or receive collateral based on the size of the net liability positions and credit ratings. The aggregate fair value of all derivatives with credit-risk-related contingent features that were in a net liability position at May 3, 2020, November 3, 2019, and April 28, 2019, was $130 million, $68 million, and $166 million, respectively. In accordance with the limits established in these agreements, the Company received $319 million in cash collateral at May 3, 2020, and $1 million in cash collateral at April 28, 2019. No cash collateral was posted or received at November 3, 2019 . Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities related to netting arrangements and any collateral received or paid in millions of dollars follows: Gross Amounts Netting Collateral May 3, 2020 Recognized Arrangements Received Net Amount Assets $ 951 $ (125) $ (319) $ 507 Liabilities 199 (125) 74 Gross Amounts Netting Collateral November 3, 2019 Recognized Arrangements Received/Paid Net Amount Assets $ 384 $ (70) $ 314 Liabilities 139 (70) 69 Gross Amounts Netting Collateral April 28, 2019 Recognized Arrangements Received Net Amount Assets $ 240 $ (99) $ (1) $ 140 Liabilities 215 (99) 116

STOCK OPTION AND RESTRICTED STO

STOCK OPTION AND RESTRICTED STOCK AWARDS	6 Months Ended
STOCK OPTION AND RESTRICTED STOCK AWARDS	May 03, 2020
STOCK OPTION AND RESTRICTED STOCK AWARDS
STOCK OPTION AND RESTRICTED STOCK AWARDS	(19) Stock Option and Restricted Stock Awards In December 2019, the Company granted stock options to employees for the purchase of 495 thousand shares of common stock at an exercise price of $169.70 per share and a binomial lattice model fair value of $35.83 per share at the grant date. At May 3, 2020, options for 6.6 million shares were outstanding with a weighted-average exercise price of $99.65 per share. The Company also granted 356 thousand restricted stock units to employees and nonemployee directors in the first six months of 2020, of which 289 thousand are subject to service based only conditions and 67 thousand are subject to performance/service based conditions. The weighted-average fair value of the service based only units at the grant date was $168.99 per unit based on the market price of a share of underlying common stock. The fair value of the performance/service based units at the grant date was $160.81 per unit based on the market price of a share of underlying common stock excluding dividends. At May 3, 2020, the Company was authorized to grant an additional 18.4 million shares related to stock option and restricted stock awards.

EMPLOYEE-SEPARATION PROGRAM

EMPLOYEE-SEPARATION PROGRAM	6 Months Ended
EMPLOYEE-SEPARATION PROGRAM	May 03, 2020
EMPLOYEE-SEPARATION PROGRAM
EMPLOYEE-SEPARATION PROGRAM	(20) Employee-Separation Program During the first quarter of 2020, the Company announced a broad voluntary employee-separation program for the U.S. salaried workforce that continues the efforts to create a more efficient organization structure and reduce operating costs. The program provided for cash payments based on years of service. The expense was recorded primarily in the period in which the employees irrevocably accepted the separation offer. The program’s total estimated pretax expenses are approximately $138 million, of which $9 million was recorded in the second quarter and $136 million in the first half of 2020. The payments for the program were also substantially made in the first quarter of 2020. Included in the total pretax expense is a non-cash charge of $21 million resulting from a curtailment in certain OPEB plans (see Note 8), which was recorded outside of operating profit in “ Other operating expense. ” The first half of 2020 expenses that are included in operating profit of $113 million are allocated 36 percent “Cost of sales,” 16 percent “Research and development,” and 48 percent “Selling, administrative and general.” In addition, the expenses are allocated 74 percent to the agriculture and turf operations, 24 percent to the construction and forestry operations, and 2 percent to the financial services operations. Annual savings from these programs are estimated to be approximately $85 million with about $65 million in 2020.

IMPAIRMENTS

IMPAIRMENTS	6 Months Ended
IMPAIRMENTS	May 03, 2020
IMPAIRMENTS
IMPAIRMENTS	(21) Impairments In the second quarter of 2020, the Company recorded non-cash impairment charges as outlined below. The fixed assets in an asphalt plant factory in Germany were impaired by $62 million pretax and after-tax The equipment on operating leases and matured operating lease inventory recorded in “Other assets” were impaired by $22 million and $10 million pretax, respectively, with an income tax benefit of approximately $9 million. The impairments were the result of higher expected equipment return rates and lower estimated values of used construction equipment than originally estimated with the probable effect that the future cash flows will not cover the carrying amount of the net assets. The assets are included in the financial services operations with the impairments recorded in “Other operating expenses.” A minority investment in a construction equipment company headquartered in South Africa was impaired by $20 million pretax and after-tax

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTEREST	6 Months Ended
REDEEMABLE NONCONTROLLING INTEREST	May 03, 2020
REDEEMABLE NONCONTROLLING INTEREST
REDEEMABLE NONCONTROLLING INTEREST	(22) Redeemable Noncontrolling Interest In the second quarter of 2020, the minority interest holder in Hagie Manufacturing Company, LLC exercised its right to sell the remaining 20 percent interest to the Company for $14 million. The arrangement was accounted for as an equity transaction with no gain or loss recorded in the statement of consolidated income. This operation is included in the Company’s agriculture and turf segment.

SUPPLEMENTAL CONSOLIDATING DATA

SUPPLEMENTAL CONSOLIDATING DATA	6 Months Ended
SUPPLEMENTAL CONSOLIDATING DATA	May 03, 2020
SUPPLEMENTAL CONSOLIDATING DATA
SUPPLEMENTAL CONSOLIDATING DATA	(23) SUPPLEMENTAL CONSOLIDATING DATA STATEMENT OF INCOME For the Three Months Ended May 3, 2020 and April 28, 2019 (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES 2020 2019 2020 2019 Net Sales and Revenues Net sales $ 8,224 $ 10,273 Finance and interest income 23 25 $ 906 $ 910 Other income 181 213 61 72 Total 8,428 10,511 967 982 Costs and Expenses Cost of sales 6,294 7,755 Research and development expenses 406 457 Selling, administrative and general expenses 700 795 208 154 Interest expense 83 44 266 312 Interest compensation to Financial Services 73 92 Other operating expenses 21 67 416 344 Total 7,577 9,210 890 810 Income of Consolidated Group before Income Taxes 851 1,301 77 172 Provision for income taxes 228 291 17 52 Income of Consolidated Group 623 1,010 60 120 Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates Financial Services 60 121 1 Other (17) 5 Total 43 126 1 Net Income 666 1,136 60 121 Less: Net income attributable to noncontrolling interests 1 Net Income Attributable to Deere & Company $ 666 $ 1,135 $ 60 $ 121 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements. SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENT OF INCOME For the Six Months Ended May 3, 2020 and April 28, 2019 (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES 2020 2019 2020 2019 Net Sales and Revenues Net sales $ 14,754 $ 17,214 Finance and interest income 49 49 $ 1,841 $ 1,776 Other income 391 428 124 133 Total 15,194 17,691 1,965 1,909 Costs and Expenses Cost of sales 11,372 13,187 Research and development expenses 831 864 Selling, administrative and general expenses 1,373 1,440 346 275 Interest expense 146 115 541 599 Interest compensation to Financial Services 137 162 Other operating expenses 92 138 824 669 Total 13,951 15,906 1,711 1,543 Income of Consolidated Group before Income Taxes 1,243 1,785 254 366 Provision for income taxes 237 436 58 92 Income of Consolidated Group 1,006 1,349 196 274 Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates Financial Services 197 275 1 1 Other (19) 12 Total 178 287 1 1 Net Income 1,184 1,636 197 275 Less: Net income attributable to noncontrolling interests 2 3 Net Income Attributable to Deere & Company $ 1,182 $ 1,633 $ 197 $ 275 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements. SUPPLEMENTAL CONSOLIDATING DATA (Continued) CONDENSED BALANCE SHEET (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES May 3 November 3 April 28 May 3 November 3 April 28 2020 2019 2019 2020 2019 2019 Assets Cash and cash equivalents $ 7,466 $ 3,175 $ 2,894 $ 1,434 $ 682 $ 590 Marketable securities 3 1 7 623 580 538 Receivables from unconsolidated subsidiaries and affiliates 2,248 2,017 1,091 Trade accounts and notes receivable – net 1,419 1,482 1,608 6,050 5,153 7,554 Financing receivables – net 118 65 101 27,138 29,130 25,769 Financing receivables securitized – net 37 44 59 4,648 4,339 4,755 Other receivables 1,072 1,376 1,325 148 116 166 Equipment on operating leases – net 7,245 7,567 7,040 Inventories 6,171 5,975 7,161 Property and equipment – net 5,642 5,929 5,712 43 44 45 Investments in unconsolidated subsidiaries and affiliates 5,119 5,326 5,187 17 16 16 Goodwill 2,917 2,917 3,025 Other intangible assets – net 1,311 1,380 1,476 Retirement benefits 908 836 1,325 58 58 58 Deferred income taxes 1,796 1,896 1,575 52 57 73 Other assets 1,506 1,158 1,235 1,208 741 636 Total Assets $ 37,733 $ 33,577 $ 33,781 $ 48,664 $ 48,483 $ 47,240 Liabilities and Stockholders’ Equity Liabilities Short-term borrowings $ 1,398 $ 987 $ 1,337 $ 9,781 $ 9,797 $ 10,425 Short-term securitization borrowings 37 44 58 4,603 4,277 4,644 Payables to unconsolidated subsidiaries and affiliates 91 142 200 2,216 1,970 1,057 Accounts payable and accrued expenses 8,416 9,232 9,470 2,149 1,836 1,813 Deferred income taxes 395 414 461 493 568 662 Long-term borrowings 9,947 5,415 4,679 24,377 24,814 23,576 Retirement benefits and other liabilities 5,584 5,912 5,638 101 94 95 Total liabilities 25,868 22,146 21,843 43,720 43,356 42,272 Commitments and contingencies (Note 16) Redeemable noncontrolling interest (Note 22) 14 14 Stockholders’ Equity Common stock, $1 par value (issued shares at May 3, 2020 – 536,431,204) 4,713 4,642 4,559 2,114 2,107 2,107 Common stock in treasury (17,690) (17,474) (16,739) Retained earnings 30,556 29,852 28,709 3,349 3,378 3,228 Accumulated other comprehensive income (loss) (5,715) (5,607) (4,610) (519) (358) (367) Total Deere & Company stockholders’ equity 11,864 11,413 11,919 4,944 5,127 4,968 Noncontrolling interests 1 4 5 Total stockholders’ equity 11,865 11,417 11,924 4,944 5,127 4,968 Total Liabilities and Stockholders’ Equity $ 37,733 $ 33,577 $ 33,781 $ 48,664 $ 48,483 $ 47,240 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements. SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENT OF CASH FLOWS For the Six Months Ended May 3, 2020 and April 28, 2019 (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES 2020 2019 2020 2019 Cash Flows from Operating Activities Net income $ 1,184 $ 1,636 $ 197 $ 275 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 9 5 98 32 Provision for depreciation and amortization 515 525 621 557 Impairment charges 82 32 Undistributed earnings of unconsolidated subsidiaries and affiliates 21 30 (1) (1) Provision (credit) for deferred income taxes 9 (118) (70) (164) Changes in assets and liabilities: Trade receivables and Equipment Operations' financing receivables (80) (271) Inventories (242) (1,086) Accounts payable and accrued expenses (659) 247 30 53 Accrued income taxes payable/receivable (154) (344) (19) 501 Retirement benefits 50 16 8 4 Other 107 68 95 99 Net cash provided by operating activities 842 708 991 1,356 Cash Flows from Investing Activities Collections of receivables (excluding trade and wholesale) 10,385 9,894 Proceeds from maturities and sales of marketable securities 5 39 25 Proceeds from sales of equipment on operating leases 898 823 Cost of receivables acquired (excluding trade and wholesale) (9,885) (9,423) Purchases of marketable securities (2) (71) (57) Purchases of property and equipment (440) (490) (1) (1) Cost of equipment on operating leases acquired (1,304) (1,341) Increase in trade and wholesale receivables (673) (3,028) Collateral on derivatives - net 1 319 59 Other (40) (52) (36) (39) Net cash used for investing activities (480) (538) (329) (3,088) Cash Flows from Financing Activities Increase (decrease) in total short-term borrowings 554 (131) 584 1,701 Change in intercompany receivables/payables (292) 611 292 (611) Proceeds from long-term borrowings 4,602 120 2,673 4,112 Payments of long-term borrowings (152) (158) (3,163) (3,269) Proceeds from issuance of common stock 70 95 Repurchases of common stock (263) (481) Dividends paid (481) (462) (225) (312) Other (61) (35) (13) (12) Net cash provided by (used for) financing activities 3,977 (441) 148 1,609 Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash (58) (27) (44) (8) Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 4,281 (298) 766 (131) Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 3,196 3,202 760 813 Cash, Cash Equivalents, and Restricted Cash at End of Period $ 7,477 $ 2,904 $ 1,526 $ 682 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND CASH FLOW INFORMATION (Policies)	6 Months Ended
	May 03, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND CASH FLOW INFORMATION
Fiscal Period, Policy	The Company uses a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The second quarter ends for fiscal year 2020 and 2019 were May 3, 2020 and April 28, 2019, respectively. Both periods contained 13 weeks.
Use of Estimates in Financial Statements	The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts and related disclosures. The identification and rapid spread of COVID-19 (COVID) has resulted in governments and other authorities implementing numerous measures designed to contain the virus. These and other actions have resulted in uncertainties in the Company’s business, which may result in actual results differing significantly from those estimates. Examples of estimates used in the financial statements affected by this uncertainty include sales incentive costs, incurred credit losses, the value of used equipment, equipment on operating lease return rates, forecasted annual effective income tax rate, and cash flows to determine long-lived assets, goodwill, and certain intangible asset recoverability, and fair value measurements.
Financing Receivables - Non-Performing, Policy	Past due balances of financing receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date. Non-performing financing receivables represent loans for which the Company has ceased accruing finance income. The Company ceases accruing finance income when these receivables are generally 90 days delinquent. Generally, when receivables are 120 days delinquent the estimated uncollectible amount, after charging the dealer’s withholding account, if any, is written off to the allowance for credit losses. Finance income for non-performing receivables is recognized on a cash basis. Accrual of finance income is generally resumed when the receivable becomes contractually current and collections are reasonably assured. Financing receivables are considered impaired when it is probable the Company will be unable to collect all amounts due according to the contractual terms. Receivables reviewed for impairment generally include those that are either past due, or have provided bankruptcy notification, or require significant collection efforts. Receivables that are impaired are generally classified as non-performing.
Troubled Debt Restructuring, Policy	A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity dates, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest.
Inventory Valuation, Policy	Most inventories owned by Deere & Company and its U.S. equipment subsidiaries and certain foreign equipment subsidiaries are valued at cost on the “last-in, first-out” (LIFO) method.
Lessee Lease, Policy	The Company recognizes on the balance sheet a lease liability and a right of use asset for leases with a term greater than 12 months for both operating and finance leases. The amounts of the lease liability and right of use asset are determined at lease commencement and are based on the present value of the lease payments over the lease term. The lease payments are discounted using the Company’s incremental borrowing rate since the rate implicit in the lease is generally not readily determinable. The Company determines the incremental borrowing rate for each lease based primarily on the lease term and the economic environment of the country where the asset will be used, adjusted as if the borrowings were collateralized. Leases with contractual periods greater than 12 months and that do not meet the finance lease criteria are classified as operating leases. Certain real estate leases contain one or more options to terminate or renew, with terms that can generally extend the lease term from one
Lease and Non-lease Components, Policy	The Company has elected to combine lease and non-lease components, such as maintenance and utilities costs included in a lease contract, for all asset classes.
Short-term lease, Policy	Leases with an initial term of 12 months or less are expensed on a straight-line basis over the lease term and recorded in short-term lease expense.
Lessor Leases, Policy	The Company estimates the residual values for operating leases at lease inception based on several factors, including lease term, expected hours of usage, historical wholesale sale prices, return experience, intended use of the equipment, market dynamics and trends, and dealer residual guarantees. The Company reviews residual value estimates during the lease term and tests the carrying value of its operating lease assets for impairment when events or circumstances necessitate. The depreciation is adjusted on a straight-line basis over the remaining lease term if residual value estimates decline. Lease agreements include usage limits and specifications on machine condition, which allow the Company to assess lessees for excess use or damages to the underlying equipment.
Product Warranties	The Company generally determines its total warranty liability by applying historical claims rate experience to the estimated amount of equipment that has been sold and is still under warranty based on dealer inventories and retail sales. The historical claims rate is primarily determined by a review of five-year claims costs and current quality developments.
Extended Product Warranty, Policy	The premiums for extended warranties are primarily recognized in income in proportion to the costs expected to be incurred over the contract period.
Fair Value of Financial Instruments, Policy	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, the Company uses various methods including market and income approaches. The Company utilizes valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied.
Derivative Financial Instruments	It is the Company’s policy that derivative transactions are executed only to manage exposures arising in the normal course of business and not for the purpose of creating speculative positions or trading. The Company’s financial services operations manage the relationship of the types and amounts of their funding sources to their receivable and lease portfolio in an effort to diminish risk due to interest rate and foreign currency fluctuations, while responding to favorable financing opportunities. The Company also has foreign currency exposures at some of its foreign and domestic operations related to buying, selling, and financing in currencies other than the functional currencies. In addition, the Company has interest rate exposure at certain equipment operations units for below market retail financing programs that are used as sales incentives and are offered for extended periods. All derivatives are recorded at fair value on the balance sheet. Cash collateral received or paid is not offset against the derivative fair values on the balance sheet. Each derivative is designated as a cash flow hedge, a fair value hedge, or remains undesignated. All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis the hedging instrument is assessed as to its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	May 03, 2020
CASH FLOW INFORMATION
Restricted Cash Held	The Company’s restricted cash held at May 3, 2020, November 3, 2019, April 28, 2019, and October 28, 2018 was as follows in millions of dollars: May 3 November 3 April 28 October 28 2020 2019 2019 2018 Equipment operations $ 11 $ 21 $ 10 $ 7 Financial services 92 78 92 104 Total $ 103 $ 99 $ 102 $ 111

NEW ACCOUNTING STANDARDS (Table

NEW ACCOUNTING STANDARDS (Tables)	6 Months Ended
NEW ACCOUNTING STANDARDS (Tables)	May 03, 2020
NEW ACCOUNTING STANDARDS
Schedule of Affected Lines on the Consolidated Balance Sheet from Initially Applying the New Lease Guidance	In addition to the lease liabilities and right of use assets, land use rights were reclassified from “Other intangible assets - net” to “Other assets” and finance lease liabilities were reclassified from “Accounts payable and accrued expenses” to “Short-term borrowings” and “Long-term borrowings.” The effect of adopting the ASU on the consolidated balance sheet follows in millions of dollars: November 3, 2019 Cumulative Effect November 4, 2019 Assets Other intangible assets - net $ 1,380 $ (23) $ 1,357 Other assets 1,899 402 2,301 Liabilities Short-term borrowings $ 10,784 $ 11 $ 10,795 Accounts payable and accrued expenses 9,656 348 10,004 Long-term borrowings 30,229 20 30,249

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
REVENUE RECOGNITION (Tables)	May 03, 2020
REVENUE RECOGNITION
Schedule of Revenue Recognition	The Company’s revenue by primary geographical market, major product line, and timing of revenue recognition in millions of dollars follow: Three Months Ended May 3, 2020 Agriculture Construction Financial Total Primary geographical markets: United States $ 3,381 $ 1,263 $ 604 $ 5,248 Canada 266 166 151 583 Western Europe 1,111 358 22 1,491 Central Europe and CIS 338 140 8 486 Latin America 458 135 60 653 Asia, Africa, Australia, New Zealand, and Middle East 511 251 30 792 Total $ 6,065 $ 2,313 $ 875 $ 9,253 Major product lines: Large Agriculture $ 3,075 $ 3,075 Small Agriculture 1,976 1,976 Turf 806 806 Construction $ 877 877 Compact Construction 339 339 Roadbuilding 723 723 Forestry 254 254 Financial Products 21 6 $ 875 902 Other 187 114 301 Total $ 6,065 $ 2,313 $ 875 $ 9,253 Timing of revenue recognition: Revenue recognized at a point in time $ 6,016 $ 2,287 $ 26 $ 8,329 Revenue recognized over time 49 26 849 924 Total $ 6,065 $ 2,313 $ 875 $ 9,253 Six Months Ended May 3, 2020 Agriculture Construction Financial Total Primary geographical markets: United States $ 5,881 $ 2,283 $ 1,247 $ 9,411 Canada 404 338 307 1,049 Western Europe 1,889 697 44 2,630 Central Europe and CIS 558 299 18 875 Latin America 913 294 126 1,333 Asia, Africa, Australia, New Zealand, and Middle East 1,015 507 64 1,586 Total $ 10,660 $ 4,418 $ 1,806 $ 16,884 Major product lines: Large Agriculture $ 5,214 $ 5,214 Small Agriculture 3,741 3,741 Turf 1,274 1,274 Construction $ 1,718 1,718 Compact Construction 627 627 Roadbuilding 1,328 1,328 Forestry 528 528 Financial Products 48 13 $ 1,806 1,867 Other 383 204 587 Total $ 10,660 $ 4,418 $ 1,806 $ 16,884 Timing of revenue recognition: Revenue recognized at a point in time $ 10,556 $ 4,366 $ 52 $ 14,974 Revenue recognized over time 104 52 1,754 1,910 Total $ 10,660 $ 4,418 $ 1,806 $ 16,884 Three Months Ended April 28, 2019 Agriculture Construction Financial Total Primary geographical markets: United States $ 3,912 $ 1,738 $ 604 $ 6,254 Canada 313 265 153 731 Western Europe 1,360 379 21 1,760 Central Europe and CIS 393 155 9 557 Latin America 772 194 69 1,035 Asia, Africa, Australia, New Zealand, and Middle East 647 328 30 1,005 Total $ 7,397 $ 3,059 $ 886 $ 11,342 Major product lines: Large Agriculture $ 3,494 $ 3,494 Small Agriculture 2,632 2,632 Turf 989 989 Construction $ 1,478 1,478 Compact Construction 320 320 Roadbuilding 814 814 Forestry 338 338 Financial Products 25 6 $ 886 917 Other 257 103 360 Total $ 7,397 $ 3,059 $ 886 $ 11,342 Timing of revenue recognition: Revenue recognized at a point in time $ 7,345 $ 3,034 $ 10,379 Revenue recognized over time 52 25 $ 886 963 Total $ 7,397 $ 3,059 $ 886 $ 11,342 Six Months Ended April 28, 2019 Agriculture Construction Financial Total Primary geographical markets: United States $ 6,540 $ 2,901 $ 1,179 $ 10,620 Canada 485 513 310 1,308 Western Europe 2,208 716 41 2,965 Central Europe and CIS 541 326 18 885 Latin America 1,320 344 133 1,797 Asia, Africa, Australia, New Zealand, and Middle East 1,100 591 60 1,751 Total $ 12,194 $ 5,391 $ 1,741 $ 19,326 Major product lines: Large Agriculture $ 5,661 $ 5,661 Small Agriculture 4,441 4,441 Turf 1,495 1,495 Construction $ 2,487 2,487 Compact Construction 584 584 Roadbuilding 1,412 1,412 Forestry 690 690 Financial Products 44 13 $ 1,741 1,798 Other 553 205 758 Total $ 12,194 $ 5,391 $ 1,741 $ 19,326 Timing of revenue recognition: Revenue recognized at a point in time $ 12,100 $ 5,347 $ 17,447 Revenue recognized over time 94 44 $ 1,741 1,879 Total $ 12,194 $ 5,391 $ 1,741 $ 19,326

OTHER COMPREHENSIVE INCOME IT_2

OTHER COMPREHENSIVE INCOME ITEMS (Tables)	6 Months Ended
OTHER COMPREHENSIVE INCOME ITEMS (Tables)	May 03, 2020
OTHER COMPREHENSIVE INCOME ITEMS
Schedule of After-Tax Changes in Accumulated Other Comprehensive Income (Loss)	The after-tax changes in accumulated other comprehensive income (loss) in millions of dollars follow: Total Unrealized Unrealized Accumulated Retirement Cumulative Gain (Loss) Gain (Loss) Other Benefits Translation on on Comprehensive Adjustment Adjustment Derivatives Debt Securities Income (Loss) Balance October 28, 2018 $ (3,237) $ (1,203) $ 15 $ (2) $ (4,427) ASU No. 2016-01 adoption (8) (8) Other comprehensive income (loss) items before reclassification 32 (244) (11) 16 (207) Amounts reclassified from accumulated other comprehensive income 36 (4) 32 Net current period other comprehensive income (loss) 68 (244) (15) 16 (175) Balance April 28, 2019 $ (3,169) $ (1,447) $ 6 $ (4,610) Balance November 3, 2019 $ (3,915) $ (1,651) $ (60) $ 19 $ (5,607) Other comprehensive income (loss) items before reclassification 186 (398) (13) 11 (214) Amounts reclassified from accumulated other comprehensive income 101 5 106 Net current period other comprehensive income (loss) 287 (398) (8) 11 (108) Balance May 3, 2020 $ (3,628) $ (2,049) $ (68) $ 30 $ (5,715)
Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects	Following are amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects, in millions of dollars: Before Tax After Tax (Expense) Tax Three Months Ended May 3, 2020 Amount Credit Amount Cumulative translation adjustment $ (441) $ (441) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (15) $ 3 (12) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 4 4 Net unrealized gain (loss) on derivatives (11) 3 (8) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 8 (2) 6 Net unrealized gain (loss) on debt securities 8 (2) 6 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (28) 6 (22) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 62 (16) 46 Prior service (credit) cost 3 3 Settlements 3 3 OPEB Net actuarial gain (loss) 29 (7) 22 Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 7 (1) 6 Prior service (credit) cost (1) (1) Net unrealized gain (loss) on retirement benefits adjustment 75 (18) 57 Total other comprehensive income (loss) $ (369) $ (17) $ (386) Before Tax After Tax (Expense) Tax Six Months Ended May 3, 2020 Amount Credit Amount Cumulative translation adjustment $ (398) $ (398) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (17) $ 4 (13) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 6 (1) 5 Net unrealized gain (loss) on derivatives (11) 3 (8) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 14 (3) 11 Net unrealized gain (loss) on debt securities 14 (3) 11 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (27) 6 (21) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 124 (42) 82 Prior service (credit) cost 6 (1) 5 Settlements 6 (1) 5 OPEB Net actuarial gain (loss) 274 (67) 207 Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 14 (3) 11 Prior service (credit) cost (2) (2) Net unrealized gain (loss) on retirement benefits adjustment 395 (108) 287 Total other comprehensive income (loss) $ (108) $ (108) Before Tax After Tax (Expense) Tax Three Months Ended April 28, 2019 Amount Credit Amount Cumulative translation adjustment $ (83) $ 1 $ (82) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (6) 1 (5) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense (3) 1 (2) Net unrealized gain (loss) on derivatives (9) 2 (7) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 10 (2) 8 Net unrealized gain (loss) on debt securities 10 (2) 8 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (19) 4 (15) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 36 (9) 27 Prior service (credit) cost 3 (1) 2 OPEB Net actuarial gain (loss) 60 (14) 46 Reclassification to other operating expense through amortization of: * Actuarial (gain) loss 3 (1) 2 Prior service (credit) cost (18) 5 (13) Net unrealized gain (loss) on retirement benefits adjustment 65 (16) 49 Total other comprehensive income (loss) $ (17) $ (15) $ (32) In the second quarter of 2020 2019 Before Tax After Tax (Expense) Tax Six Months Ended April 28, 2019 Amount Credit Amount Cumulative translation adjustment $ (244) $ (244) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (14) $ 3 (11) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense (5) 1 (4) Net unrealized gain (loss) on derivatives (19) 4 (15) Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 20 (4) 16 Net unrealized gain (loss) on debt securities 20 (4) 16 Retirement benefits adjustment: Pensions Net actuarial gain (loss) (18) 4 (14) Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 71 (17) 54 Prior service (credit) cost 6 (2) 4 OPEB Net actuarial gain (loss) 60 (14) 46 Reclassification to other operating expenses through amortization of: * Actuarial (gain) loss 8 (2) 6 Prior service (credit) cost (36) 8 (28) Net unrealized gain (loss) on retirement benefits adjustment 91 (23) 68 Total other comprehensive income (loss) $ (152) $ (23) $ (175) * In the first six months of 2020 2019

DIVIDENDS DECLARED AND PAID (Ta

DIVIDENDS DECLARED AND PAID (Tables)	6 Months Ended
DIVIDENDS DECLARED AND PAID (Tables)	May 03, 2020
DIVIDENDS DECLARED AND PAID
Dividends Declared and Paid	Dividends declared and paid on a per share basis were as follows: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Dividends declared $ .76 $ .76 $ 1.52 $ 1.52 Dividends paid $ .76 $ .76 $ 1.52 $ 1.45

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
EARNINGS PER SHARE (Tables)	May 03, 2020
EARNINGS PER SHARE
Reconciliation of Basic and Diluted Net Income Per Share	A reconciliation of basic and diluted net income per share attributable to Deere & Company follows in millions, except per share amounts: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Net income attributable to Deere & Company $ 666 $ 1,135 $ 1,182 $ 1,633 Average shares outstanding 313.2 317.9 313.3 318.1 Basic per share $ 2.13 $ 3.57 $ 3.77 $ 5.13 Average shares outstanding 313.2 317.9 313.3 318.1 Effect of dilutive share-based compensation 3.0 4.3 3.4 4.3 Total potential shares outstanding 316.2 322.2 316.7 322.4 Diluted per share $ 2.11 $ 3.52 $ 3.73 $ 5.07

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	May 03, 2020
PENSION AND OTHER POSTRETIREMENT BENEFITS
Schedule of Components of Net Periodic Pension and OPEB Cost	The worldwide components of net periodic pension cost consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Service cost $ 77 $ 66 $ 161 $ 132 Interest cost 87 111 174 222 Expected return on plan assets (204) (200) (409) (400) Amortization of actuarial loss 62 36 124 71 Amortization of prior service cost 3 3 6 6 Settlements 3 6 Net cost $ 28 $ 16 $ 62 $ 31 The worldwide components of net periodic OPEB cost consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Service cost $ 12 $ 10 $ 24 $ 20 Interest cost 35 53 72 107 Expected return on plan assets (12) (9) (24) (18) Amortization of actuarial loss 7 3 14 8 Amortization of prior service credit (1) (18) (2) (36) Curtailments 21 Net cost $ 41 $ 39 $ 105 $ 81

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
SEGMENT REPORTING (Tables)	May 03, 2020
SEGMENT REPORTING
Schedule of Segment Reporting Information	Worldwide net sales and revenues, operating profit, and identifiable assets by segment in millions of dollars follow: Three Months Ended Six Months Ended May 3 April 28 % May 3 April 28 % 2020 2019 Change 2020 2019 Change Net sales and revenues: Agriculture and turf $ 5,968 $ 7,282 -18 $ 10,455 $ 11,963 -13 Construction and forestry 2,256 2,991 -25 4,299 5,251 -18 Total net sales 8,224 10,273 -20 14,754 17,214 -14 Financial services 875 886 -1 1,806 1,741 +4 Other revenues 154 183 -16 324 371 -13 Total net sales and revenues $ 9,253 $ 11,342 -18 $ 16,884 $ 19,326 -13 Operating profit: * Agriculture and turf $ 794 $ 1,019 -22 $ 1,167 $ 1,367 -15 Construction and forestry 96 347 -72 189 576 -67 Financial services 75 170 -56 254 362 -30 Total operating profit 965 1,536 -37 1,610 2,305 -30 Reconciling items ** (54) (58) -7 (133) (144) -8 Income taxes (245) (343) -29 (295) (528) -44 Net income attributable to Deere & Company $ 666 $ 1,135 -41 $ 1,182 $ 1,633 -28 Intersegment sales and revenues: Agriculture and turf net sales $ 8 $ 10 -20 $ 15 $ 18 -17 Construction and forestry net sales 1 Financial services 93 96 -3 159 168 -5 Equipment operations outside the U.S. and Canada: Net sales $ 3,226 $ 4,141 -22 $ 6,006 $ 6,959 -14 Operating profit 184 482 -62 408 658 -38 May 3 November 3 2020 2019 Identifiable assets: Agriculture and turf $ 10,378 $ 10,379 Construction and forestry 9,336 9,387 -1 Financial services 48,664 48,483 Corporate 8,948 4,762 +88 Total assets $ 77,326 $ 73,011 +6 * ** Reconciling items are primarily corporate expenses, certain external interest expense, certain foreign exchange gains and losses, pension and postretirement benefit costs excluding the service cost component, and net income attributable to noncontrolling interests.

FINANCING RECEIVABLES (Tables)

FINANCING RECEIVABLES (Tables)	6 Months Ended
FINANCING RECEIVABLES (Tables)	May 03, 2020
FINANCING RECEIVABLES
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables	An age analysis of past due financing receivables that are still accruing interest and non-performing financing receivables in millions of dollars follows: May 3, 2020 90 Days 30-59 Days 60-89 Days or Greater Total Past Due Past Due Past Due Past Due Retail Notes: Agriculture and turf $ 188 $ 94 $ 2 $ 284 Construction and forestry 116 49 18 183 Other: Agriculture and turf 59 22 1 82 Construction and forestry 62 11 73 Total $ 425 $ 176 $ 21 $ 622 Total Total Total Financing Past Due Non-Performing Current Receivables Retail Notes: Agriculture and turf $ 284 $ 291 $ 18,308 $ 18,883 Construction and forestry 183 144 3,409 3,736 Other: Agriculture and turf 82 123 7,856 8,061 Construction and forestry 73 35 1,348 1,456 Total $ 622 $ 593 $ 30,921 32,136 Less allowance for credit losses 195 Total financing receivables – net $ 31,941 November 3, 2019 90 Days 30-59 Days 60-89 Days or Greater Total Past Due Past Due Past Due Past Due Retail Notes: Agriculture and turf $ 138 $ 73 $ 1 $ 212 Construction and forestry 79 29 4 112 Other: Agriculture and turf 39 19 1 59 Construction and forestry 26 7 33 Total $ 282 $ 128 $ 6 $ 416 Total Total Total Financing Past Due Non-Performing Current Receivables Retail Notes: Agriculture and turf $ 212 $ 268 $ 18,931 $ 19,411 Construction and forestry 112 127 3,450 3,689 Other: Agriculture and turf 59 28 8,986 9,073 Construction and forestry 33 26 1,496 1,555 Total $ 416 $ 449 $ 32,863 33,728 Less allowance for credit losses 150 Total financing receivables – net $ 33,578 April 28, 2019 90 Days 30-59 Days 60-89 Days or Greater Total Past Due Past Due Past Due Past Due Retail Notes: Agriculture and turf $ 139 $ 73 $ 1 $ 213 Construction and forestry 90 40 1 131 Other: Agriculture and turf 33 16 49 Construction and forestry 19 4 23 Total $ 281 $ 133 $ 2 $ 416 Total Total Total Financing Past Due Non-Performing Current Receivables Retail Notes: Agriculture and turf $ 213 $ 293 $ 17,644 $ 18,150 Construction and forestry 131 124 3,120 3,375 Other: Agriculture and turf 49 67 7,861 7,977 Construction and forestry 23 10 1,331 1,364 Total $ 416 $ 494 $ 29,956 30,866 Less allowance for credit losses 182 Total financing receivables – net $ 30,684
Analysis of the Allowance for Credit Losses and Investment in Financing Receivables	An analysis of the allowance for credit losses and investment in financing receivables in millions of dollars during the periods follows: Revolving Retail Charge Notes Accounts Other Total Three Months Ended May 3, 2020 Allowance: Beginning of period balance $ 88 $ 40 $ 29 $ 157 Provision 58 20 7 85 Write-offs (24) (23) (2) (49) Recoveries 3 6 9 Translation adjustments (6) (1) (7) End of period balance * $ 119 $ 43 $ 33 $ 195 Six Months Ended May 3, 2020 Allowance: Beginning of period balance $ 89 $ 40 $ 21 $ 150 Provision 74 18 14 106 Write-offs (41) (29) (4) (74) Recoveries 5 14 1 20 Translation adjustments (8) 1 (7) End of period balance * $ 119 $ 43 $ 33 $ 195 Financing receivables: End of period balance $ 22,619 $ 3,454 $ 6,063 $ 32,136 Balance individually evaluated ** $ 157 $ 83 $ 240 * Individual allowances were not significant. ** Remainder is collectively evaluated. The negative economic effects related to COVID and other macroeconomic issues have significantly affected certain retail borrowers, particularly of construction equipment. As a result, the allowance for credit losses increased $38 million in the second quarter of 2020 reflecting estimated credit losses inherent in the financing receivables. Revolving Retail Charge Notes Accounts Other Total Three Months Ended April 28, 2019 Allowance: Beginning of period balance $ 111 $ 43 $ 23 $ 177 Provision 9 17 3 29 Write-offs (9) (22) (2) (33) Recoveries 6 5 11 Translation adjustments (2) (2) End of period balance * $ 115 $ 43 $ 24 $ 182 Six Months Ended April 28, 2019 Allowance: Beginning of period balance $ 113 $ 43 $ 22 $ 178 Provision 15 16 5 36 Write-offs (20) (26) (3) (49) Recoveries 10 10 20 Translation adjustments (3) (3) End of period balance * $ 115 $ 43 $ 24 $ 182 Financing receivables: End of period balance $ 21,525 $ 3,299 $ 6,042 $ 30,866 Balance individually evaluated ** $ 151 $ 2 $ 15 $ 168 * ** Remainder is collectively evaluated.
Analysis of the Impaired Financing Receivables	An analysis of the impaired financing receivables in millions of dollars follows: Unpaid Average Recorded Principal Specific Recorded Investment Balance Allowance Investment May 3, 2020* Receivables with specific allowance * $ 106 $ 104 $ 23 $ 113 Receivables without a specific allowance 35 34 38 Total $ 141 $ 138 $ 23 $ 151 Agriculture and turf $ 113 $ 111 $ 18 $ 121 Construction and forestry $ 28 $ 27 $ 5 $ 30 November 3, 2019* Receivables with specific allowance $ 40 $ 39 $ 13 $ 40 Receivables without a specific allowance 32 31 37 Total $ 72 $ 70 $ 13 $ 77 Agriculture and turf $ 49 $ 48 $ 8 $ 52 Construction and forestry $ 23 $ 22 $ 5 $ 25 April 28, 2019* Receivables with specific allowance $ 35 $ 34 $ 14 $ 36 Receivables without a specific allowance 37 35 39 Total $ 72 $ 69 $ 14 $ 75 Agriculture and turf $ 54 $ 53 $ 11 $ 57 Construction and forestry $ 18 $ 16 $ 3 $ 18 * * Primarily retail notes and wholesale receivables.

SECURITIZATION OF FINANCING R_2

SECURITIZATION OF FINANCING RECEIVABLES (Tables)	6 Months Ended
SECURITIZATION OF FINANCING RECEIVABLES (Tables)	May 03, 2020
SECURITIZATION OF FINANCING RECEIVABLES
Unconsolidated Conduits, Carrying Amount of Liabilities Compared to Maximum Exposure to Loss	The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets, was as follows in millions of dollars: May 3, 2020 Carrying value of liabilities $ 1,154 Maximum exposure to loss 1,221
Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions	The components of consolidated restricted assets related to secured borrowings in securitization transactions follow in millions of dollars: May 3 November 3 April 28 2020 2019 2019 Financing receivables securitized (retail notes) $ 4,703 $ 4,395 $ 4,826 Allowance for credit losses (18) (12) (12) Other assets 95 82 105 Total restricted securitized assets $ 4,780 $ 4,465 $ 4,919 The components of consolidated secured borrowings and other liabilities related to securitizations follow in millions of dollars: May 3 November 3 April 28 2020 2019 2019 Short-term securitization borrowings $ 4,640 $ 4,321 $ 4,702 Accrued interest on borrowings 6 6 4 Total liabilities related to restricted securitized assets $ 4,646 $ 4,327 $ 4,706

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
INVENTORIES (Tables)	May 03, 2020
INVENTORIES
Major Classification of Inventories	If all of the Company’s inventories had been valued on a “first-in, first-out” (FIFO) method, estimated inventories by major classification in millions of dollars would have been as follows: May 3 November 3 April 28 2020 2019 2019 Raw materials and supplies $ 2,394 $ 2,285 $ 2,424 Work-in-process 722 747 873 Finished goods and parts 4,646 4,613 5,729 Total FIFO value 7,762 7,645 9,026 Less adjustment to LIFO value 1,591 1,670 1,865 Inventories $ 6,171 $ 5,975 $ 7,161

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS-NET (Tables)	6 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS-NET (Tables)	May 03, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS-NET
Changes in Goodwill by Operating Segments	The changes in amounts of goodwill by operating segments were as follows in millions of dollars: Agriculture Construction and Turf and Forestry Total Goodwill at October 28, 2018 $ 583 $ 2,518 $ 3,101 Translation adjustments and other (2) (74) (76) Goodwill at April 28, 2019 $ 581 $ 2,444 $ 3,025 Goodwill at November 3, 2019 $ 574 $ 2,343 $ 2,917 Translation adjustments and other (9) 9 Goodwill at May 3, 2020 $ 565 $ 2,352 $ 2,917 There were no accumulated impairment losses in the reported periods.
Components of Other Intangible Assets	The components of other intangible assets were as follows in millions of dollars: May 3 November 3 April 28 2020 2019 2019 Amortized intangible assets: Customer lists and relationships $ 509 $ 511 $ 528 Technology, patents, trademarks, and other 1,006 1,028 1,059 Total at cost 1,515 1,539 1,587 Less accumulated amortization * 327 282 234 Total 1,188 1,257 1,353 Unamortized intangible assets: In-process research and development 123 123 123 Other intangible assets – net $ 1,311 $ 1,380 $ 1,476 *

LEASES (Tables)

LEASES (Tables)	6 Months Ended
LEASES (Tables)	May 03, 2020
LEASES
Summary of Lease Expense by Type	The lease expense by type consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3, 2020 May 3, 2020 Operating lease expense $ 31 $ 63 Short-term lease expense 6 10 Variable lease expense 10 20 Finance lease: Depreciation expense 2 7 Interest on lease liabilities 1 1 Total lease expense $ 50 $ 101
Schedule of Operating and Finance Lease Right of Use Assets and Liabilities, Location in Condensed Consolidated Balance Sheet	Operating and finance lease right of use assets and liabilities follow in millions of dollars: May 3, 2020 Operating leases Other assets $ 341 Accounts payable and accrued expenses 319 Finance leases Property and equipment — net $ 43 Short-term borrowings 13 Long-term borrowings 26 Total finance lease liabilities $ 39
Schedule of Weighted-Average Remaining Lease Term in Years and Discount Rates	The weighted-average remaining lease term in years and discount rates follows: May 3, 2020 Weighted-average remaining lease terms: Operating leases 7 Finance leases 3 Weighted-average discount rate: Operating leases 2.4% Finance leases 2.9%
Schedule of Operating Lease Payment Amounts	Lease payment amounts in each of the next five years at May 3, 2020 follow in millions of dollars: Operating Finance Due in: Leases Leases Remainder of 2020 $ 59 $ 7 2021 79 13 2022 67 10 2023 46 5 2024 35 3 2025 19 1 Later years 35 3 Total lease payments 340 42 Less imputed interest 21 3 Total lease liabilities $ 319 $ 39
Schedule of Finance Lease Payment Amounts	Lease payment amounts in each of the next five years at May 3, 2020 follow in millions of dollars: Operating Finance Due in: Leases Leases Remainder of 2020 $ 59 $ 7 2021 79 13 2022 67 10 2023 46 5 2024 35 3 2025 19 1 Later years 35 3 Total lease payments 340 42 Less imputed interest 21 3 Total lease liabilities $ 319 $ 39
Schedule of Future Minimum Payments under Previous Lease Standard for Operating Leases	Future minimum lease payments under the previous lease standard for operating and finance leases at November 3, 2019 follow in millions of dollars: Operating Capital Due in: Leases Leases 2020 $ 111 $ 12 2021 77 10 2022 56 6 2023 39 2 2024 28 1 Later years 26 1 Total minimum lease payments $ 337 $ 32
Schedule of Future Minimum Payments under Previous Lease Standard for Capital Leases	Future minimum lease payments under the previous lease standard for operating and finance leases at November 3, 2019 follow in millions of dollars: Operating Capital Due in: Leases Leases 2020 $ 111 $ 12 2021 77 10 2022 56 6 2023 39 2 2024 28 1 Later years 26 1 Total minimum lease payments $ 337 $ 32
Schedule of Cash Paid for Amounts Included in the Measurement of Lease Liabilities and Right of Use Assets Obtained in Exchange for Lease Liabilities	Cash paid for amounts included in the measurement of lease liabilities: Six Months Ended May 3, 2020 Operating cash flows from operating leases $ 64 Operating cash flows from finance leases 1 Financing cash flows from finance leases 9 Right of use assets obtained in exchange for lease liabilities: Six Months Ended May 3, 2020 Operating leases $ 10 Finance leases 18
Schedule of Lease Revenues Earned	Lease revenues earned by the Company were as follows in millions of dollars: Three Months Ended Six Months Ended May 3, 2020 May 3, 2020 Sales-type and direct finance lease revenues $ 32 $ 68 Operating lease revenues 369 743 Variable lease revenues 6 11 Total lease revenues $ 407 $ 822
Schedule of Sales-type and Direct Financing Lease Receivables by Product Category	Sales-type and direct financing lease receivables by product category were as follows in millions of dollars: May 3 November 3 2020 2019 Agriculture and turf $ 792 $ 897 Construction and forestry 923 1,033 Total 1,715 1,930 Guaranteed residual values 175 232 Unguaranteed residual values 92 101 Less unearned finance income 197 212 Financing leases receivables $ 1,785 $ 2,051
Schedule of Scheduled Payments, Including Guaranteed Residual Values, on Sales-type and Direct Financing Leases Receivables	Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at May 3, 2020 follow in millions of dollars: May 3 Due in: 2020 Remainder of 2020 $ 460 2021 670 2022 409 2023 213 2024 103 2025 27 Later years 8 Total $ 1,890
Schedule of Financing Lease Receivables Scheduled Payments under the Previous Lease Standard	Scheduled payments on financing lease receivables under the previous lease standard at November 3, 2019 follow in millions of dollars: November 3 Due in: 2019 2020 $ 833 2021 557 2022 321 2023 153 2024 53 Later years 13 Total $ 1,930
Schedule of Cost of Equipment on Operating Leases by Product Category	The cost of equipment on operating leases by product category was as follows in millions of dollars: May 3 November 3 2020 2019 Agriculture and turf $ 7,080 $ 7,257 Construction and forestry 2,097 2,165 Total 9,177 9,422 Less accumulated depreciation 1,932 1,855 Equipment on operating leases - net $ 7,245 $ 7,567
Schedule of Lease Payments for Equipment on Operating Leases	Lease payments for equipment on operating leases at May 3, 2020 were scheduled as follows in millions of dollars: May 3 Due in: 2020 Remainder of 2020 $ 563 2021 932 2022 573 2023 282 2024 107 2025 7 Total $ 2,464
Schedule of Rental Payments for Equipment on Operating Leases under the Previous Lease Standard	Rental payments for equipment on operating leases under the previous lease standard at November 3, 2019 were scheduled as follows in millions of dollars: November 3 Due in: 2019 2020 $ 1,086 2021 759 2022 419 2023 193 2024 41 Total $ 2,498

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	May 03, 2020
COMMITMENTS AND CONTINGENCIES
Reconciliation of the Changes in Warranty Liability and Unearned Premiums	A reconciliation of the changes in the warranty liability and unearned premiums in millions of dollars follows: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Beginning of period balance $ 1,792 $ 1,687 $ 1,800 $ 1,652 Payments (223) (234) (453) (462) Amortization of premiums received (51) (56) (110) (111) Accruals for warranties 210 256 432 510 Premiums received 69 69 134 134 Foreign exchange (30) (8) (36) (9) End of period balance $ 1,767 $ 1,714 $ 1,767 $ 1,714

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	May 03, 2020
FAIR VALUE MEASUREMENTS
Fair Value of Financial Instruments	The fair values of financial instruments that do not approximate the carrying values in millions of dollars follow: May 3, 2020 November 3, 2019 April 28, 2019 Carrying Fair Carrying Fair Carrying Fair Financing receivables – net: Equipment operations $ 118 $ 111 $ 65 $ 61 $ 102 $ 95 Financial services 27,138 27,317 29,130 29,106 25,768 25,697 Total $ 27,256 $ 27,428 $ 29,195 $ 29,167 $ 25,870 $ 25,792 Financing receivables securitized – net: Equipment operations $ 37 $ 35 $ 44 $ 43 $ 59 $ 57 Financial services 4,648 4,722 4,339 4,362 4,755 4,726 Total $ 4,685 $ 4,757 $ 4,383 $ 4,405 $ 4,814 $ 4,783 Short-term Equipment operations $ 37 $ 37 $ 44 $ 45 $ 58 $ 58 Financial services 4,603 4,632 4,277 4,302 4,644 4,653 Total $ 4,640 $ 4,669 $ 4,321 $ 4,347 $ 4,702 $ 4,711 Long-term borrowings due within one year: Equipment operations $ 480 $ 477 $ 642 $ 645 $ 982 $ 987 Financial services 6,587 6,609 6,786 6,788 5,321 5,305 Total $ 7,067 $ 7,086 $ 7,428 $ 7,433 $ 6,303 $ 6,292 Long-term borrowings: Equipment operations $ 9,921 $ 11,192 $ 5,415 $ 6,138 $ 4,679 $ 5,110 Financial services 24,377 24,537 24,814 25,122 23,576 23,805 Total $ 34,298 $ 35,729 $ 30,229 $ 31,260 $ 28,255 $ 28,915 * ** Carrying values exclude finance lease liabilities that are presented as borrowings beginning in 2020 (see Notes 3 and 15).
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis in millions of dollars follow: May 3 November 3 April 28 2020 2019 2019 Level 1: Marketable securities International equity securities $ 2 Equity fund * 62 $ 59 $ 58 U.S. government debt securities 50 50 44 Total Level 1 marketable securities 114 109 102 Level 2: Marketable securities U.S. government debt securities 104 81 73 Municipal debt securities 63 60 55 Corporate debt securities 177 165 148 International debt securities 2 5 9 Mortgage-backed securities ** 165 160 154 Total Level 2 marketable securities 511 471 439 Other assets Derivatives: Interest rate contracts 842 363 139 Foreign exchange contracts 92 20 99 Cross-currency interest rate contracts 17 1 2 Total Level 2 other assets 951 384 240 Accounts payable and accrued expenses Derivatives: Interest rate contracts 131 65 165 Foreign exchange contracts 68 71 48 Cross-currency interest rate contracts 3 2 Total Level 2 accounts payable and accrued expenses 199 139 215 Level 3: Marketable securities International debt securities 1 1 4 * *During the second quarter of 2020 and 2019, net unrealized gains/(losses) on equity securities of $(8) million and $5 million, respectively, were recorded in “Other income.” During the first six months of 2020 and 2019, net unrealized gains/(losses) on equity securities were $(2) million and $5 million, respectively.
Contractual Maturities of Debt Securities	The contractual maturities of debt securities at May 3, 2020 in millions of dollars are shown below. Actual maturities may differ from those scheduled as a result of prepayments by the issuers. Because of the potential for prepayment on mortgage-backed securities, they are not categorized by contractual maturity. Amortized Fair Cost Value Due in one year or less $ 21 $ 17 Due after one through five years 98 102 Due after five through 10 years 99 109 Due after 10 years 157 169 Mortgage-backed securities 156 165 Debt securities $ 531 $ 562
Fair Value, Recurring, Level 3 Measurements	Fair value, recurring Level 3 measurements from available-for-sale marketable securities in millions of dollars follow: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Beginning of period balance $ 1 $ 6 $ 1 $ 8 Principal payments (2) (5) Other 1 End of period balance $ 1 $ 4 $ 1 $ 4
Fair Value, Nonrecurring Measurements from Impairments	Fair value, nonrecurring measurements from impairments in millions of dollars follow: Fair Value * Losses Three Months Ended Six Months Ended May 3 November 3 April 28 May 3 April 28 May 3 April 28 2020 2019 2019 2020 2019 2020 2019 Equipment on operating leases – net $ 371 $ 855 $ 22 $ 22 Property and equipment – net $ 70 $ 62 $ 62 Investments in unconsolidated affiliates $ 10 $ 20 $ 20 Other assets $ 59 $ 142 $ 10 $ 10 *

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
DERIVATIVE INSTRUMENTS (Tables)	May 03, 2020
DERIVATIVE INSTRUMENTS
Amounts Recorded in the Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships	The amounts recorded in the consolidated balance sheet related to borrowings designated in fair value hedging relationships in millions of dollars follow: Cumulative Increase (Decrease) of Fair Value Hedging Adjustments Included in the Carrying Amount Carrying Active Amount of Hedging Discontinued Hedged Item Relationships Relationships Total May 3, 2020 Long-term borrowings due within one year* $ 214 $ (2) $ (2) Long-term borrowings 9,496 $ 726 36 762 November 3, 2019 Long-term borrowings due within one year* $ 412 $ (1) $ (4) $ (5) Long-term borrowings 8,532 295 (32) 263 April 28, 2019 Long-term borrowings due within one year* $ 190 $ 1 $ (4) $ (3) Long-term borrowings 9,169 (31) (38) (69) *
Fair Value of Derivative Instruments in Consolidated Balance Sheet	Fair values of derivative instruments in the condensed consolidated balance sheet in millions of dollars follow: May 3 November 3 April 28 Other Assets 2020 2019 2019 Designated as hedging instruments: Interest rate contracts $ 758 $ 332 $ 105 Total designated 758 332 105 Not designated as hedging instruments: Interest rate contracts 84 31 34 Foreign exchange contracts 92 20 99 Cross-currency interest rate contracts 17 1 2 Total not designated 193 52 135 Total derivative assets $ 951 $ 384 $ 240 Accounts Payable and Accrued Expenses Designated as hedging instruments: Interest rate contracts $ 30 $ 28 $ 125 Total designated 30 28 125 Not designated as hedging instruments: Interest rate contracts 101 37 40 Foreign exchange contracts 68 71 48 Cross-currency interest rate contracts 3 2 Total not designated 169 111 90 Total derivative liabilities $ 199 $ 139 $ 215
Gains (Losses) Related to Derivative Instruments on Statement of Consolidated Income	The classification and gains (losses) including accrued interest expense related to derivative instruments on the statement of consolidated income consisted of the following in millions of dollars: Three Months Ended Six Months Ended May 3 April 28 May 3 April 28 2020 2019 2020 2019 Fair Value Hedges: Interest rate contracts - Interest expense $ 415 $ 141 $ 511 $ 274 Cash Flow Hedges Recognized in OCI Interest rate contracts - OCI (pretax) (15) (6) (17) (14) Reclassified from OCI Interest rate contracts - Interest expense (4) 3 (6) 5 Not Designated as Hedges: Interest rate contracts - Net sales $ (20) $ (7) $ (24) $ (17) Interest rate contracts - Interest expense * 1 (10) 3 (18) Foreign exchange contracts - Cost of sales 81 12 92 7 Foreign exchange contracts - Other operating * 175 80 174 100 Total not designated $ 237 $ 75 $ 245 $ 72 *
Impact on Derivative Assets and Liabilities Related to Netting Arrangements and Collateral	Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities related to netting arrangements and any collateral received or paid in millions of dollars follows: Gross Amounts Netting Collateral May 3, 2020 Recognized Arrangements Received Net Amount Assets $ 951 $ (125) $ (319) $ 507 Liabilities 199 (125) 74 Gross Amounts Netting Collateral November 3, 2019 Recognized Arrangements Received/Paid Net Amount Assets $ 384 $ (70) $ 314 Liabilities 139 (70) 69 Gross Amounts Netting Collateral April 28, 2019 Recognized Arrangements Received Net Amount Assets $ 240 $ (99) $ (1) $ 140 Liabilities 215 (99) 116

SUPPLEMENTAL CONSOLIDATING DA_2

SUPPLEMENTAL CONSOLIDATING DATA (Tables)	6 Months Ended
SUPPLEMENTAL CONSOLIDATING DATA (Tables)	May 03, 2020
SUPPLEMENTAL CONSOLIDATING DATA
Supplemental Consolidating Data Income Statement	(23) SUPPLEMENTAL CONSOLIDATING DATA STATEMENT OF INCOME For the Three Months Ended May 3, 2020 and April 28, 2019 (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES 2020 2019 2020 2019 Net Sales and Revenues Net sales $ 8,224 $ 10,273 Finance and interest income 23 25 $ 906 $ 910 Other income 181 213 61 72 Total 8,428 10,511 967 982 Costs and Expenses Cost of sales 6,294 7,755 Research and development expenses 406 457 Selling, administrative and general expenses 700 795 208 154 Interest expense 83 44 266 312 Interest compensation to Financial Services 73 92 Other operating expenses 21 67 416 344 Total 7,577 9,210 890 810 Income of Consolidated Group before Income Taxes 851 1,301 77 172 Provision for income taxes 228 291 17 52 Income of Consolidated Group 623 1,010 60 120 Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates Financial Services 60 121 1 Other (17) 5 Total 43 126 1 Net Income 666 1,136 60 121 Less: Net income attributable to noncontrolling interests 1 Net Income Attributable to Deere & Company $ 666 $ 1,135 $ 60 $ 121 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements. SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENT OF INCOME For the Six Months Ended May 3, 2020 and April 28, 2019 (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES 2020 2019 2020 2019 Net Sales and Revenues Net sales $ 14,754 $ 17,214 Finance and interest income 49 49 $ 1,841 $ 1,776 Other income 391 428 124 133 Total 15,194 17,691 1,965 1,909 Costs and Expenses Cost of sales 11,372 13,187 Research and development expenses 831 864 Selling, administrative and general expenses 1,373 1,440 346 275 Interest expense 146 115 541 599 Interest compensation to Financial Services 137 162 Other operating expenses 92 138 824 669 Total 13,951 15,906 1,711 1,543 Income of Consolidated Group before Income Taxes 1,243 1,785 254 366 Provision for income taxes 237 436 58 92 Income of Consolidated Group 1,006 1,349 196 274 Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates Financial Services 197 275 1 1 Other (19) 12 Total 178 287 1 1 Net Income 1,184 1,636 197 275 Less: Net income attributable to noncontrolling interests 2 3 Net Income Attributable to Deere & Company $ 1,182 $ 1,633 $ 197 $ 275 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.
Supplemental Consolidating Data Condensed Balance Sheet	SUPPLEMENTAL CONSOLIDATING DATA (Continued) CONDENSED BALANCE SHEET (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES May 3 November 3 April 28 May 3 November 3 April 28 2020 2019 2019 2020 2019 2019 Assets Cash and cash equivalents $ 7,466 $ 3,175 $ 2,894 $ 1,434 $ 682 $ 590 Marketable securities 3 1 7 623 580 538 Receivables from unconsolidated subsidiaries and affiliates 2,248 2,017 1,091 Trade accounts and notes receivable – net 1,419 1,482 1,608 6,050 5,153 7,554 Financing receivables – net 118 65 101 27,138 29,130 25,769 Financing receivables securitized – net 37 44 59 4,648 4,339 4,755 Other receivables 1,072 1,376 1,325 148 116 166 Equipment on operating leases – net 7,245 7,567 7,040 Inventories 6,171 5,975 7,161 Property and equipment – net 5,642 5,929 5,712 43 44 45 Investments in unconsolidated subsidiaries and affiliates 5,119 5,326 5,187 17 16 16 Goodwill 2,917 2,917 3,025 Other intangible assets – net 1,311 1,380 1,476 Retirement benefits 908 836 1,325 58 58 58 Deferred income taxes 1,796 1,896 1,575 52 57 73 Other assets 1,506 1,158 1,235 1,208 741 636 Total Assets $ 37,733 $ 33,577 $ 33,781 $ 48,664 $ 48,483 $ 47,240 Liabilities and Stockholders’ Equity Liabilities Short-term borrowings $ 1,398 $ 987 $ 1,337 $ 9,781 $ 9,797 $ 10,425 Short-term securitization borrowings 37 44 58 4,603 4,277 4,644 Payables to unconsolidated subsidiaries and affiliates 91 142 200 2,216 1,970 1,057 Accounts payable and accrued expenses 8,416 9,232 9,470 2,149 1,836 1,813 Deferred income taxes 395 414 461 493 568 662 Long-term borrowings 9,947 5,415 4,679 24,377 24,814 23,576 Retirement benefits and other liabilities 5,584 5,912 5,638 101 94 95 Total liabilities 25,868 22,146 21,843 43,720 43,356 42,272 Commitments and contingencies (Note 16) Redeemable noncontrolling interest (Note 22) 14 14 Stockholders’ Equity Common stock, $1 par value (issued shares at May 3, 2020 – 536,431,204) 4,713 4,642 4,559 2,114 2,107 2,107 Common stock in treasury (17,690) (17,474) (16,739) Retained earnings 30,556 29,852 28,709 3,349 3,378 3,228 Accumulated other comprehensive income (loss) (5,715) (5,607) (4,610) (519) (358) (367) Total Deere & Company stockholders’ equity 11,864 11,413 11,919 4,944 5,127 4,968 Noncontrolling interests 1 4 5 Total stockholders’ equity 11,865 11,417 11,924 4,944 5,127 4,968 Total Liabilities and Stockholders’ Equity $ 37,733 $ 33,577 $ 33,781 $ 48,664 $ 48,483 $ 47,240 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.
Supplemental Consolidating Data Statement of Cash Flows	SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENT OF CASH FLOWS For the Six Months Ended May 3, 2020 and April 28, 2019 (In millions of dollars) Unaudited EQUIPMENT OPERATIONS* FINANCIAL SERVICES 2020 2019 2020 2019 Cash Flows from Operating Activities Net income $ 1,184 $ 1,636 $ 197 $ 275 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 9 5 98 32 Provision for depreciation and amortization 515 525 621 557 Impairment charges 82 32 Undistributed earnings of unconsolidated subsidiaries and affiliates 21 30 (1) (1) Provision (credit) for deferred income taxes 9 (118) (70) (164) Changes in assets and liabilities: Trade receivables and Equipment Operations' financing receivables (80) (271) Inventories (242) (1,086) Accounts payable and accrued expenses (659) 247 30 53 Accrued income taxes payable/receivable (154) (344) (19) 501 Retirement benefits 50 16 8 4 Other 107 68 95 99 Net cash provided by operating activities 842 708 991 1,356 Cash Flows from Investing Activities Collections of receivables (excluding trade and wholesale) 10,385 9,894 Proceeds from maturities and sales of marketable securities 5 39 25 Proceeds from sales of equipment on operating leases 898 823 Cost of receivables acquired (excluding trade and wholesale) (9,885) (9,423) Purchases of marketable securities (2) (71) (57) Purchases of property and equipment (440) (490) (1) (1) Cost of equipment on operating leases acquired (1,304) (1,341) Increase in trade and wholesale receivables (673) (3,028) Collateral on derivatives - net 1 319 59 Other (40) (52) (36) (39) Net cash used for investing activities (480) (538) (329) (3,088) Cash Flows from Financing Activities Increase (decrease) in total short-term borrowings 554 (131) 584 1,701 Change in intercompany receivables/payables (292) 611 292 (611) Proceeds from long-term borrowings 4,602 120 2,673 4,112 Payments of long-term borrowings (152) (158) (3,163) (3,269) Proceeds from issuance of common stock 70 95 Repurchases of common stock (263) (481) Dividends paid (481) (462) (225) (312) Other (61) (35) (13) (12) Net cash provided by (used for) financing activities 3,977 (441) 148 1,609 Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash (58) (27) (44) (8) Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 4,281 (298) 766 (131) Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 3,196 3,202 760 813 Cash, Cash Equivalents, and Restricted Cash at End of Period $ 7,477 $ 2,904 $ 1,526 $ 682 * The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.

ORGANIZATION AND CONSOLIDATION

ORGANIZATION AND CONSOLIDATION (Details) - USD ($) $ in Millions	3 Months Ended
	May 03, 2020	Apr. 28, 2019	Nov. 03, 2019
Fiscal period duration	91 days	91 days
Maximum Exposure to Losses
Maximum exposure to loss	$ 1,221
VIE-Not Primary Beneficiary
Maximum Exposure to Losses
Maximum exposure to loss	$ 13	$ 22	$ 22

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	6 Months Ended
	May 03, 2020	Apr. 28, 2019	Nov. 03, 2019	Oct. 28, 2018
Transfer of inventory to equipment on operating leases	$ 255	$ 308
Accounts payable related to purchases of property and equipment	46	74
Restricted cash	103	102	$ 99	$ 111
Equipment Operations
Restricted cash	11	10	21	7
Financial Services
Restricted cash	$ 92	$ 92	$ 78	$ 104

NEW ACCOUNTING STANDARDS (Detai

NEW ACCOUNTING STANDARDS (Details) - USD ($) $ in Millions	6 Months Ended
NEW ACCOUNTING STANDARDS (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 04, 2019	Nov. 03, 2019	Apr. 28, 2019
New accounting standards
Other intangible assets - net	$ 1,311	$ 1,357	$ 1,380	$ 1,476
Other assets	2,713	2,301	1,899	1,871
Short-term borrowings	11,179	10,795	10,784	11,762
Accounts payable and accrued expenses	9,072	10,004	9,656	9,626
Long-term borrowings	$ 34,324	30,249	$ 30,229	$ 28,255
ASU 2016-02
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Transition Option Elected [Fixed List]	Modified Retrospective
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Use of Hindsight [true false]	false
ASU 2017-08
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2018-07
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2020-04
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2016-13
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2018-15
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2019-12
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
Cumulative Effect from Adoption \| ASU 2016-02
New accounting standards
Other intangible assets - net		(23)
Other assets		402
Short-term borrowings		11
Accounts payable and accrued expenses		348
Long-term borrowings		$ 20

REVENUE RECOGNITION - Primary G

REVENUE RECOGNITION - Primary Geograhical Market, Major Product Lines, and Timing (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Revenue Recognition
Net sales and revenues	$ 9,253	$ 11,342	$ 16,884	$ 19,326
Revenue recognized at a point in time
Revenue Recognition
Net sales and revenues	8,329	10,379	14,974	17,447
Revenue recognized over time
Revenue Recognition
Net sales and revenues	924	963	1,910	1,879
Large Agriculture
Revenue Recognition
Net sales	3,075	3,494	5,214	5,661
Small Agriculture
Revenue Recognition
Net sales	1,976	2,632	3,741	4,441
Turf
Revenue Recognition
Net sales	806	989	1,274	1,495
Construction
Revenue Recognition
Net sales	877	1,478	1,718	2,487
Compact Construction
Revenue Recognition
Net sales	339	320	627	584
Roadbuilding
Revenue Recognition
Net sales	723	814	1,328	1,412
Forestry
Revenue Recognition
Net sales	254	338	528	690
Financial Products
Revenue Recognition
Net sales and revenues	902	917	1,867	1,798
Other
Revenue Recognition
Net sales and revenues	301	360	587	758
United States
Revenue Recognition
Net sales and revenues	5,248	6,254	9,411	10,620
Canada
Revenue Recognition
Net sales and revenues	583	731	1,049	1,308
Western Europe
Revenue Recognition
Net sales and revenues	1,491	1,760	2,630	2,965
Central Europe and CIS
Revenue Recognition
Net sales and revenues	486	557	875	885
Latin America
Revenue Recognition
Net sales and revenues	653	1,035	1,333	1,797
Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	792	1,005	1,586	1,751
Agriculture and Turf
Revenue Recognition
Net sales and revenues	6,065	7,397	10,660	12,194
Agriculture and Turf \| Revenue recognized at a point in time
Revenue Recognition
Net sales and revenues	6,016	7,345	10,556	12,100
Agriculture and Turf \| Revenue recognized over time
Revenue Recognition
Net sales and revenues	49	52	104	94
Agriculture and Turf \| Large Agriculture
Revenue Recognition
Net sales	3,075	3,494	5,214	5,661
Agriculture and Turf \| Small Agriculture
Revenue Recognition
Net sales	1,976	2,632	3,741	4,441
Agriculture and Turf \| Turf
Revenue Recognition
Net sales	806	989	1,274	1,495
Agriculture and Turf \| Financial Products
Revenue Recognition
Net sales and revenues	21	25	48	44
Agriculture and Turf \| Other
Revenue Recognition
Net sales and revenues	187	257	383	553
Agriculture and Turf \| United States
Revenue Recognition
Net sales and revenues	3,381	3,912	5,881	6,540
Agriculture and Turf \| Canada
Revenue Recognition
Net sales and revenues	266	313	404	485
Agriculture and Turf \| Western Europe
Revenue Recognition
Net sales and revenues	1,111	1,360	1,889	2,208
Agriculture and Turf \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	338	393	558	541
Agriculture and Turf \| Latin America
Revenue Recognition
Net sales and revenues	458	772	913	1,320
Agriculture and Turf \| Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	511	647	1,015	1,100
Construction and Forestry
Revenue Recognition
Net sales and revenues	2,313	3,059	4,418	5,391
Construction and Forestry \| Revenue recognized at a point in time
Revenue Recognition
Net sales and revenues	2,287	3,034	4,366	5,347
Construction and Forestry \| Revenue recognized over time
Revenue Recognition
Net sales and revenues	26	25	52	44
Construction and Forestry \| Construction
Revenue Recognition
Net sales	877	1,478	1,718	2,487
Construction and Forestry \| Compact Construction
Revenue Recognition
Net sales	339	320	627	584
Construction and Forestry \| Roadbuilding
Revenue Recognition
Net sales	723	814	1,328	1,412
Construction and Forestry \| Forestry
Revenue Recognition
Net sales	254	338	528	690
Construction and Forestry \| Financial Products
Revenue Recognition
Net sales and revenues	6	6	13	13
Construction and Forestry \| Other
Revenue Recognition
Net sales and revenues	114	103	204	205
Construction and Forestry \| United States
Revenue Recognition
Net sales and revenues	1,263	1,738	2,283	2,901
Construction and Forestry \| Canada
Revenue Recognition
Net sales and revenues	166	265	338	513
Construction and Forestry \| Western Europe
Revenue Recognition
Net sales and revenues	358	379	697	716
Construction and Forestry \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	140	155	299	326
Construction and Forestry \| Latin America
Revenue Recognition
Net sales and revenues	135	194	294	344
Construction and Forestry \| Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	251	328	507	591
Financial Services
Revenue Recognition
Net sales and revenues	875	886	1,806	1,741
Financial Services \| Revenue recognized at a point in time
Revenue Recognition
Net sales and revenues	26		52
Financial Services \| Revenue recognized over time
Revenue Recognition
Net sales and revenues	849	886	1,754	1,741
Financial Services \| Financial Products
Revenue Recognition
Net sales and revenues	875	886	1,806	1,741
Financial Services \| United States
Revenue Recognition
Net sales and revenues	604	604	1,247	1,179
Financial Services \| Canada
Revenue Recognition
Net sales and revenues	151	153	307	310
Financial Services \| Western Europe
Revenue Recognition
Net sales and revenues	22	21	44	41
Financial Services \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	8	9	18	18
Financial Services \| Latin America
Revenue Recognition
Net sales and revenues	60	69	126	133
Financial Services \| Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	$ 30	$ 30	$ 64	$ 60

REVENUE RECOGNITION - Advanced

REVENUE RECOGNITION - Advanced Customer Payments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019	Nov. 03, 2019
Advanced customer payments
Deferred revenue received	$ 1,077	$ 1,014	$ 1,077	$ 1,014	$ 1,010
Revenue recognized from deferred revenue	$ 97	$ 103	$ 278	$ 265

REVENUE RECOGNITION - Unsatisfi

REVENUE RECOGNITION - Unsatisfied Performance Obligations (Details) $ in Millions	May 03, 2020USD ($)
Unsatisfied performance obligations
Performance obligations for contracts with an original duration greater than one year	$ 907
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-05-04
Unsatisfied performance obligations
Performance obligations for contracts with an original duration greater than one year	$ 214
Period estimated revenue to be recognized	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-11-02
Unsatisfied performance obligations
Performance obligations for contracts with an original duration greater than one year	$ 320
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-11-01
Unsatisfied performance obligations
Performance obligations for contracts with an original duration greater than one year	$ 205
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-31
Unsatisfied performance obligations
Performance obligations for contracts with an original duration greater than one year	$ 109
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-30
Unsatisfied performance obligations
Performance obligations for contracts with an original duration greater than one year	$ 45
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-28
Unsatisfied performance obligations
Performance obligations for contracts with an original duration greater than one year	$ 14
Period estimated revenue to be recognized	24 months

REVENUE RECOGNITION - Short-ter

REVENUE RECOGNITION - Short-term Payment Relief (Details) - USD ($) $ in Millions	3 Months Ended
	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Short-term Payment Relief
Trade accounts and notes receivable - net	$ 5,986	$ 5,230	$ 7,519
COVID
Short-term Payment Relief
Trade accounts receivable - granted payment relief	707
Trade accounts and notes receivable - net	$ 585
Trade accounts and notes receivable granted relief (as a percent)	10.00%
COVID \| Maximum
Short-term Payment Relief
Payment deferral period	3 months
Extension of interest-free period	3 months
Total interest-free period	1 year
Interest rate reduction period	3 months

OTHER COMPREHENSIVE INCOME IT_3

OTHER COMPREHENSIVE INCOME ITEMS - After-Tax Changes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Accumulated other comprehensive income (loss)
Balance			$ 11,413
Net current period other comprehensive income (loss)	$ (386)	$ (32)	(108)	$ (175)
Balance	11,864	11,919	11,864	11,919
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)
Balance			(5,607)	(4,427)
ASU No. 2016-01 adoption		(8)		(8)
Other comprehensive income (loss) items before reclassification			(214)	(207)
Amounts reclassified from accumulated other comprehensive income			106	32
Net current period other comprehensive income (loss)	(386)	(32)	(108)	(175)
Balance	(5,715)	(4,610)	(5,715)	(4,610)
Retirement Benefits Adjustment
Accumulated other comprehensive income (loss)
Balance			(3,915)	(3,237)
Other comprehensive income (loss) items before reclassification			186	32
Amounts reclassified from accumulated other comprehensive income			101	36
Net current period other comprehensive income (loss)			287	68
Balance	(3,628)	(3,169)	(3,628)	(3,169)
Cumulative Translation Adjustment
Accumulated other comprehensive income (loss)
Balance			(1,651)	(1,203)
Other comprehensive income (loss) items before reclassification			(398)	(244)
Net current period other comprehensive income (loss)			(398)	(244)
Balance	(2,049)	(1,447)	(2,049)	(1,447)
Unrealized Gain (Loss) on Derivatives
Accumulated other comprehensive income (loss)
Balance			(60)	15
Other comprehensive income (loss) items before reclassification			(13)	(11)
Amounts reclassified from accumulated other comprehensive income			5	(4)
Net current period other comprehensive income (loss)			(8)	(15)
Balance	(68)		(68)
Unrealized Gain (Loss) on Debt Securities
Accumulated other comprehensive income (loss)
Balance			19
ASU No. 2016-01 adoption		(8)		(8)
Other comprehensive income (loss) items before reclassification			11	16
Net current period other comprehensive income (loss)			11	16
Balance	$ 30	$ 6	$ 30	6
Unrealized Gain (Loss) on Investments
Accumulated other comprehensive income (loss)
Balance				$ (2)

OTHER COMPREHENSIVE INCOME IT_4

OTHER COMPREHENSIVE INCOME ITEMS - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Other Comprehensive Income (Loss), Before Tax
Interest expense	$ (342)	$ (351)	$ (678)	$ (704)
Total other comprehensive income (loss), before tax	(369)	(17)		(152)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	(17)	(15)	(108)	(23)
Other Comprehensive Income (Loss), After Tax
Other Comprehensive Income (Loss), Net of Income Taxes	(386)	(32)	(108)	(175)
Cumulative Translation Adjustment
Other Comprehensive Income (Loss), Before Tax
Total other comprehensive income (loss), before tax	(441)	(83)	(398)	(244)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit		1
Other Comprehensive Income (Loss), After Tax
Other Comprehensive Income (Loss), Net of Income Taxes	(441)	(82)	(398)	(244)
Unrealized Gain (Loss) on Derivatives
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	(15)	(6)	(17)	(14)
Total other comprehensive income (loss), before tax	(11)	(9)	(11)	(19)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	3	1	4	3
Total other comprehensive income (loss), tax (expense) credit	3	2	3	4
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	(12)	(5)	(13)	(11)
Other Comprehensive Income (Loss), Net of Income Taxes	(8)	(7)	(8)	(15)
Unrealized Gain (Loss) on Derivatives \| Interest Rate Contracts \| Reclassification out of accumulated other comprehensive income (loss)
Other Comprehensive Income (Loss), Before Tax
Interest expense	4	(3)	6	(5)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit		1	(1)	1
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	4	(2)	5	(4)
Unrealized Gain (Loss) on Debt Securities
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	8	10	14	20
Total other comprehensive income (loss), before tax	8	10	14	20
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(2)	(2)	(3)	(4)
Total other comprehensive income (loss), tax (expense) credit	(2)	(2)	(3)	(4)
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	6	8	11	16
Other Comprehensive Income (Loss), Net of Income Taxes	6	8	11	16
Retirement Benefits Adjustment
Other Comprehensive Income (Loss), Before Tax
Total other comprehensive income (loss), before tax	75	65	395	91
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	(18)	(16)	(108)	(23)
Other Comprehensive Income (Loss), After Tax
Other Comprehensive Income (Loss), Net of Income Taxes	57	49	287	68
Retirement Benefits Adjustment \| Pensions
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	(28)	(19)	(27)	(18)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	6	4	6	4
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	(22)	(15)	(21)	(14)
Retirement Benefits Adjustment \| OPEB
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	29	60	274	60
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(7)	(14)	(67)	(14)
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	22	46	207	46
Actuarial (Gain) Loss \| Reclassification out of accumulated other comprehensive income (loss) \| Pensions
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	62	36	124	71
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	(16)	(9)	(42)	(17)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	46	27	82	54
Actuarial (Gain) Loss \| Reclassification out of accumulated other comprehensive income (loss) \| OPEB
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	7	3	14	8
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	(1)	(1)	(3)	(2)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	6	2	11	6
Prior Service (Credit) Cost \| Reclassification out of accumulated other comprehensive income (loss) \| Pensions
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	3	3	6	6
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit		(1)	(1)	(2)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	3	2	5	4
Prior Service (Credit) Cost \| Reclassification out of accumulated other comprehensive income (loss) \| OPEB
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	(1)	(18)	(2)	(36)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit		5		8
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	(1)	$ (13)	(2)	$ (28)
Settlements \| Reclassification out of accumulated other comprehensive income (loss) \| Pensions
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	3		6
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit			(1)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	$ 3		$ 5

OTHER COMPREHENSIVE INCOME IT_5

OTHER COMPREHENSIVE INCOME ITEMS - Noncontrolling Interests' (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interests
Comprehensive income (loss) attributable to noncontrolling interests	$ 0	$ 1	$ 2	$ 3
Net income attributable to noncontrolling interests	$ 0	$ 1	$ 2	$ 3

DIVIDENDS DECLARED AND PAID (De

DIVIDENDS DECLARED AND PAID (Details) - $ / shares	3 Months Ended		6 Months Ended
DIVIDENDS DECLARED AND PAID (Details) - $ / shares	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
DIVIDENDS DECLARED AND PAID
Dividends declared (in dollars per share)	$ 0.76	$ 0.76	$ 1.52	$ 1.52
Dividends paid (in dollars per share)	$ 0.76	$ 0.76	$ 1.52	$ 1.45

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
EARNINGS PER SHARE
Net income attributable to Deere & Company	$ 666	$ 1,135	$ 1,182	$ 1,633
Average shares outstanding	313.2	317.9	313.3	318.1
Basic (in dollars per share)	$ 2.13	$ 3.57	$ 3.77	$ 5.13
Diluted Earnings Per Share
Average shares outstanding	313.2	317.9	313.3	318.1
Effect of dilutive share-based compensation (in shares)	3	4.3	3.4	4.3
Total potential shares outstanding	316.2	322.2	316.7	322.4
Diluted (in dollars per share)	$ 2.11	$ 3.52	$ 3.73	$ 5.07
Antidilutive incremental shares excluded from computation of earnings per share	1	0.6	0.6	0.6

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic Cost (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	May 03, 2020	Feb. 02, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Net Periodic Cost
Location of costs excluding the service component	us-gaap:OtherCostOfOperatingRevenue		us-gaap:OtherCostOfOperatingRevenue	us-gaap:OtherCostOfOperatingRevenue	us-gaap:OtherCostOfOperatingRevenue
Pensions
Net Periodic Cost
Service cost	$ 77		$ 66	$ 161	$ 132
Interest cost	87		111	174	222
Expected return on plan assets	(204)		(200)	(409)	(400)
Amortization of actuarial loss	62		36	124	71
Amortization of prior service (credit) cost	3		3	6	6
Settlements	3			6
Net cost	28		16	62	31
Employer Contributions
Defined benefit plan employer contributions				42
Defined benefit plan employer contributions expected for the remainder of the fiscal year	50			50
OPEB
Net Periodic Cost
Service cost	12		10	24	20
Interest cost	35		53	72	107
Expected return on plan assets	(12)		(9)	(24)	(18)
Amortization of actuarial loss	7		3	14	8
Amortization of prior service (credit) cost	(1)		(18)	(2)	(36)
Curtailments				21
Net cost	41		$ 39	105	$ 81
Benefit obligation reduction		$ (245)
Employer Contributions
Defined benefit plan employer contributions				66
Defined benefit plan employer contributions expected for the remainder of the fiscal year	$ 69			$ 69
OPEB \| Employee-Separation Program \| United States
Net Periodic Cost
Curtailments		$ 21

INCOME TAXES - (Details)

INCOME TAXES - (Details) - USD ($) $ in Millions	6 Months Ended
INCOME TAXES - (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
INCOME TAXES
Capital loss carryback	$ 43
Excess tax benefits on equity compensation	(28)
UNRECOGNIZED TAX BENEFITS
Unrecognized tax benefits	610	$ 553	$ 285
Unrecognized tax benefits affecting effective tax rate if recognized	$ 145	$ 153	$ 133

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
SEGMENT REPORTING (Details) - USD ($) $ in Millions	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019	Nov. 03, 2019
Net Sales and Revenues
Net sales and revenues	$ 9,253	$ 11,342	$ 16,884	$ 19,326
% Change - Net sales and revenues	(18.00%)		(13.00%)
Operating Profit (Loss)
Total operating profit	$ 965	1,536	$ 1,610	2,305
% Change - Operating profit	(37.00%)		(30.00%)
Net income attributable to Deere & Company	$ 666	1,135	$ 1,182	1,633
% Change - Net income attributable to Deere & Company	(41.00%)		(28.00%)
Identifiable Assets
Total Assets	$ 77,326	72,730	$ 77,326	72,730	$ 73,011
% Change - Identifiable assets			6.00%
Operating Segments (Other)
Reconciling items	$ (54)	(58)	$ (133)	(144)
% Change - Reconciling items	(7.00%)		(8.00%)
Income taxes	$ (245)	(343)	$ (295)	(528)
% Change - Income taxes	(29.00%)		(44.00%)
Equipment Operations
Net Sales and Revenues
Net sales and revenues	$ 8,428	10,511	$ 15,194	17,691
Operating Profit (Loss)
Net income attributable to Deere & Company	666	1,135	1,182	1,633
Identifiable Assets
Total Assets	37,733	33,781	37,733	33,781	33,577
Operating Segments (Other)
Income taxes	(228)	(291)	(237)	(436)
Equipment Operations \| Outside U.S. and Canada:
Net Sales and Revenues
Net sales and revenues	$ 3,226	4,141	$ 6,006	6,959
% Change - Net sales and revenues	(22.00%)		(14.00%)
Operating Profit (Loss)
Total operating profit	$ 184	482	$ 408	658
% Change - Operating profit	(62.00%)		(38.00%)
Corporate
Identifiable Assets
Total Assets	$ 8,948		$ 8,948		4,762
% Change - Identifiable assets			88.00%
Other Revenues
Net Sales and Revenues
Net sales and revenues	$ 154	183	$ 324	371
% Change - Net sales and revenues	(16.00%)		(13.00%)
Agriculture and Turf
Net Sales and Revenues
Net sales and revenues	$ 6,065	7,397	$ 10,660	12,194
Intersegment sales and revenues	$ 8	10	$ 15	18
% Change - Intersegment sales and revenues	(20.00%)		(17.00%)
Operating Profit (Loss)
Total operating profit	$ 794	1,019	$ 1,167	1,367
% Change - Operating profit	(22.00%)		(15.00%)
Identifiable Assets
Total Assets	$ 10,378		$ 10,378		10,379
Construction and Forestry
Net Sales and Revenues
Net sales and revenues	2,313	3,059	4,418	5,391
Intersegment sales and revenues				1
Operating Profit (Loss)
Total operating profit	$ 96	347	$ 189	576
% Change - Operating profit	(72.00%)		(67.00%)
Identifiable Assets
Total Assets	$ 9,336		$ 9,336		9,387
% Change - Identifiable assets			(1.00%)
Financial Services
Net Sales and Revenues
Net sales and revenues	$ 875	886	$ 1,806	1,741
% Change - Net sales and revenues	(1.00%)		4.00%
Intersegment sales and revenues	$ 93	96	$ 159	168
% Change - Intersegment sales and revenues	(3.00%)		(5.00%)
Operating Profit (Loss)
Total operating profit	$ 75	170	$ 254	362
% Change - Operating profit	(56.00%)		(30.00%)
Identifiable Assets
Total Assets	$ 48,664		$ 48,664		$ 48,483
Net Sales
Net Sales and Revenues
Net sales	$ 8,224	10,273	$ 14,754	17,214
% Change - Net sales	(20.00%)		(14.00%)
Net Sales \| Equipment Operations
Net Sales and Revenues
Net sales and revenues	$ 8,224	10,273	$ 14,754	17,214
Net Sales \| Agriculture and Turf
Net Sales and Revenues
Net sales	$ 5,968	7,282	$ 10,455	11,963
% Change - Net sales	(18.00%)		(13.00%)
Net Sales \| Construction and Forestry
Net Sales and Revenues
Net sales	$ 2,256	$ 2,991	$ 4,299	$ 5,251
% Change - Net sales	(25.00%)		(18.00%)

FINANCING RECEIVABLES - Past Du

FINANCING RECEIVABLES - Past Due Age Analysis (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	May 03, 2020	May 03, 2020	Feb. 02, 2020	Nov. 03, 2019	Apr. 28, 2019	Jan. 27, 2019	Oct. 28, 2018
Financing Receivable, Past Due
Minimum number of days for a financing receivable to be considered past due		30 days
Generally the number of days for a financing receivable to be considered non-performing		90 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off		120 days
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	$ 622	$ 622		$ 416	$ 416
Total Non-Performing	593	593		449	494
Current	30,921	30,921		32,863	29,956
Total Financing Receivables	32,136	32,136		33,728	30,866
Less allowance for credit losses	195	195	$ 157	150	182	$ 177	$ 178
Total financing receivables - net	$ 31,941	$ 31,941		33,578	30,684
COVID
Financing Receivable, Past Due
Financing receivables granted relief (as a percent)	3.00%	3.00%
COVID \| Maximum
Financing Receivable, Past Due
Payment deferral period	3 months
30-59 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	$ 425	$ 425		282	281
60-89 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	176	176		128	133
90 Days or Greater Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	21	21		6	2
Retail Notes
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Financing Receivables	22,619	22,619			21,525
Less allowance for credit losses	119	119	$ 88	89	115	$ 111	$ 113
Retail Notes \| Agriculture and Turf
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	284	284		212	213
Total Non-Performing	291	291		268	293
Current	18,308	18,308		18,931	17,644
Total Financing Receivables	18,883	18,883		19,411	18,150
Retail Notes \| Agriculture and Turf \| 30-59 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	188	188		138	139
Retail Notes \| Agriculture and Turf \| 60-89 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	94	94		73	73
Retail Notes \| Agriculture and Turf \| 90 Days or Greater Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	2	2		1	1
Retail Notes \| Construction and Forestry
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	183	183		112	131
Total Non-Performing	144	144		127	124
Current	3,409	3,409		3,450	3,120
Total Financing Receivables	3,736	3,736		3,689	3,375
Retail Notes \| Construction and Forestry \| 30-59 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	116	116		79	90
Retail Notes \| Construction and Forestry \| 60-89 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	49	49		29	40
Retail Notes \| Construction and Forestry \| 90 Days or Greater Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	18	18		4	1
Other Financing Receivables \| Agriculture and Turf
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	82	82		59	49
Total Non-Performing	123	123		28	67
Current	7,856	7,856		8,986	7,861
Total Financing Receivables	8,061	8,061		9,073	7,977
Other Financing Receivables \| Agriculture and Turf \| 30-59 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	59	59		39	33
Other Financing Receivables \| Agriculture and Turf \| 60-89 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	22	22		19	16
Other Financing Receivables \| Agriculture and Turf \| 90 Days or Greater Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	1	1		1
Other Financing Receivables \| Construction and Forestry
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	73	73		33	23
Total Non-Performing	35	35		26	10
Current	1,348	1,348		1,496	1,331
Total Financing Receivables	1,456	1,456		1,555	1,364
Other Financing Receivables \| Construction and Forestry \| 30-59 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	62	62		26	19
Other Financing Receivables \| Construction and Forestry \| 60-89 Days Past Due
Age Analysis of Past Due Financing Receivables Still Accruing Interest and Non-Performing Financing Receivables
Total Past Due	$ 11	$ 11		$ 7	$ 4

FINANCING RECEIVABLES - Allowan

FINANCING RECEIVABLES - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019	Nov. 03, 2019
Allowance:
Beginning of period balance	$ 157	$ 177	$ 150	$ 178
Provision (credit)	85	29	106	36
Write-offs	(49)	(33)	(74)	(49)
Recoveries	9	11	20	20
Translation adjustments	(7)	(2)	(7)	(3)
End of period balance	195	182	195	182
Allowance for credit losses increase	38
Financing receivables:
End of period balance	32,136	30,866	32,136	30,866	$ 33,728
Balance individually evaluated	240	168	240	168
Retail Notes
Allowance:
Beginning of period balance	88	111	89	113
Provision (credit)	58	9	74	15
Write-offs	(24)	(9)	(41)	(20)
Recoveries	3	6	5	10
Translation adjustments	(6)	(2)	(8)	(3)
End of period balance	119	115	119	115
Financing receivables:
End of period balance	22,619	21,525	22,619	21,525
Balance individually evaluated	157	151	157	151
Revolving Charge Accounts
Allowance:
Beginning of period balance	40	43	40	43
Provision (credit)	20	17	18	16
Write-offs	(23)	(22)	(29)	(26)
Recoveries	6	5	14	10
End of period balance	43	43	43	43
Financing receivables:
End of period balance	3,454	3,299	3,454	3,299
Balance individually evaluated		2		2
Other Financing Receivables
Allowance:
Beginning of period balance	29	23	21	22
Provision (credit)	7	3	14	5
Write-offs	(2)	(2)	(4)	(3)
Recoveries			1
Translation adjustments	(1)		1
End of period balance	33	24	33	24
Financing receivables:
End of period balance	6,063	6,042	6,063	6,042
Balance individually evaluated	$ 83	$ 15	$ 83	$ 15

FINANCING RECEIVABLES - Impaire

FINANCING RECEIVABLES - Impaired (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	May 03, 2020	Apr. 28, 2019	Nov. 03, 2019
Analysis of Impaired Financing Receivables
Recorded investment, with specific allowance	$ 106	$ 35	$ 40
Recorded investment, without specific allowance	35	37	32
Recorded Investment	141	72	72
Unpaid principal balance, with specific allowance	104	34	39
Unpaid principal balance, without specific allowance	34	35	31
Unpaid Principal Balance	138	69	70
Specific Allowance	23	14	13
Average recorded investment, with specific allowance	113	36	40
Average recorded investment, without specific allowance	38	39	37
Average Recorded Investment	151	75	77
Agriculture and Turf
Analysis of Impaired Financing Receivables
Recorded Investment	113	54	49
Unpaid Principal Balance	111	53	48
Specific Allowance	18	11	8
Average Recorded Investment	121	57	52
Construction and Forestry
Analysis of Impaired Financing Receivables
Recorded Investment	28	18	23
Unpaid Principal Balance	27	16	22
Specific Allowance	5	3	5
Average Recorded Investment	$ 30	$ 18	$ 25

FINANCING RECEIVABLES - Trouble

FINANCING RECEIVABLES - Troubled Debt Restructuring (Details) $ in Millions	6 Months Ended
	May 03, 2020USD ($)item	Apr. 28, 2019USD ($)item
Financing Receivables Related to Troubled Debt Restructurings
Financing receivable contracts in troubled debt restructuring, number \| item	259	219
Financing receivables in troubled debt restructurings, aggregate balances, pre-modification	$ 94	$ 7
Financing receivables in troubled debt restructurings, aggregate balances, post-modification	83	$ 7
Commitments to lend additional funds to borrowers whose accounts were modified in troubled debt restructurings	$ 13

SECURITIZATION OF FINANCING R_3

SECURITIZATION OF FINANCING RECEIVABLES (Details) - USD ($) $ in Millions	6 Months Ended
	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Securitization Transactions
Unconsolidated conduits, carrying value of liabilities	$ 1,154
Unconsolidated conduits, maximum exposure to loss	1,221
Short-term securitization borrowings	4,640	$ 4,321	$ 4,702
Accrued interest on borrowings - securitization transactions	6	6	4
Total liabilities related to restricted securitized assets - securitization transactions	$ 4,646	4,327	4,706
Maximum remaining term of all restricted securitized retail notes	7 years
Securitized
Securitization Transactions
Financing receivables securitized (retail notes)	$ 4,703	4,395	4,826
Allowance for credit losses - securitization transactions	(18)	(12)	(12)
Other assets - securitization transactions	95	82	105
Total restricted securitized assets - securitization transactions	4,780	4,465	4,919
VIE-Primary Beneficiary
Securitization Transactions
Total restricted securitized assets - securitization transactions	3,017	2,895	2,771
Total liabilities related to restricted securitized assets - securitization transactions	2,977	2,847	2,693
Non-VIE Banking Operation
Securitization Transactions
Total restricted securitized assets - securitization transactions	542	491	671
Total liabilities related to restricted securitized assets - securitization transactions	515	465	631
VIE-Not Primary Beneficiary
Securitization Transactions
Unconsolidated conduits, maximum exposure to loss	13	22	22
Total Assets	37,000
Total restricted securitized assets - securitization transactions	1,221	1,079	1,477
Total liabilities related to restricted securitized assets - securitization transactions	$ 1,154	$ 1,015	$ 1,382

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
INVENTORIES
Raw materials and supplies	$ 2,394	$ 2,285	$ 2,424
Work-in-process	722	747	873
Finished goods and parts	4,646	4,613	5,729
Total FIFO value	7,762	7,645	9,026
Less adjustment to LIFO value	1,591	1,670	1,865
Inventories	$ 6,171	$ 5,975	$ 7,161

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS-NET - Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	May 03, 2020	Apr. 28, 2019
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	$ 2,917	$ 3,101
Translation adjustments and other		(76)
Goodwill - net, ending balance	2,917	3,025
Accumulated impairment loss	0	0
Agriculture and Turf
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	574	583
Translation adjustments and other	(9)	(2)
Goodwill - net, ending balance	565	581
Construction and Forestry
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	2,343	2,518
Translation adjustments and other	9	(74)
Goodwill - net, ending balance	$ 2,352	$ 2,444

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS-NET - Intangible Assets (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 04, 2019	Nov. 03, 2019	Apr. 28, 2019
Amortized intangible assets:
Total at cost	$ 1,515		$ 1,539	$ 1,587
Less accumulated amortization	327		282	234
Total amortized intangible assets - net	1,188		1,257	1,353
Unamortized intangible assets:
Other intangible assets - net	1,311	$ 1,357	1,380	1,476
Customer Lists and Relationships
Amortized intangible assets:
Total at cost	509		511	528
Less accumulated amortization	93		77	62
Technology, Patents, Trademarks and Other
Amortized intangible assets:
Total at cost	1,006		1,028	1,059
Less accumulated amortization	234		205	172
In-process Research and Development
Unamortized intangible assets:
Unamortized intangible assets	$ 123		$ 123	$ 123

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS-NET - Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Amortized Intangible Assets:
Amortization expense of other intangible assets	$ 26	$ 29	$ 51	$ 57
Amortization expense of other intangible assets - remainder of 2020	50		50
Amortization expense of other intangible assets - 2021	100		100
Amortization expense of other intangible assets - 2022	99		99
Amortization expense of other intangible assets - 2023	97		97
Amortization expense of other intangible assets - 2024	$ 95		$ 95

LEASES - Lease Terms (Details)

LEASES - Lease Terms (Details)	6 Months Ended
LEASES - Lease Terms (Details)	May 03, 2020
Lessee
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Lessee, Finance Lease, Existence of Option to Extend [true false]	true
Lessee, Operating Lease, Existence of Option to Terminate [true false]	true
Lessee, Finance Lease, Existence of Option to Terminate [true false]	true
Minimum
Lessee
Expected use period under lease	1 year
Renewal Term	1 year
Lessor
Financial Services segment lease period	1 year
Maximum
Lessee
Expected use period under lease	20 years
Renewal Term	10 years
Lessor
Financial Services segment lease period	7 years

LEASES - Lease Expense By Type

LEASES - Lease Expense By Type - (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	May 03, 2020	May 03, 2020
Lease Expense by Type
Operating lease expense	$ 31	$ 63
Short-term lease expense	6	10
Variable lease expense	10	20
Finance lease:
Depreciation expense	2	7
Interest on lease liabilities	1	1
Total lease expense	$ 50	$ 101

LEASES - Lease Right of Use Ass

LEASES - Lease Right of Use Assets and Liabilities - (Details) $ in Millions	May 03, 2020USD ($)
Lessee
Operating leases - Other assets	$ 341
Operating lease, right-of-use asset, Condensed Consolidated Balance Sheet location	us-gaap:OtherAssets
Operating leases - Accounts payable and accrued expenses	$ 319
Operating lease, liability, Condensed Consolidated Balance Sheet location	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Finance leases - Property and equipment - net	$ 43
Finance lease, right-of-use asset, Condensed Consolidated Balance Sheet location	us-gaap:PropertyPlantAndEquipmentNet
Finance leases - Short-term borrowings	$ 13
Finance lease, liability, short-term, Condensed Consolidated Balance Sheet location	de:ShortTermBorrowingsIncludingLongTermDebtCurrent
Finance leases - Long-term borrowings	$ 26
Finance lease, liability, long-term, Condensed Consolidated Balance Sheet location	us-gaap:LongTermDebtNoncurrent
Total finance lease liabilities	$ 39

LEASES - Weighted Average Remai

LEASES - Weighted Average Remaining Lease Term and Discount Rates - (Details)	May 03, 2020
Lessee
Weighted-average remaining lease term - operating leases	7 years
Weighted-average remaining lease term - finance leases	3 years
Weighted-average discount rate - operating leases (as a percent)	2.40%
Weighted-average discount rate - finance leases (as a percent)	2.90%

LEASES - Lease Payments - (Deta

LEASES - Lease Payments - (Details) $ in Millions	May 03, 2020USD ($)
Operating Leases
Remainder of 2020	$ 59
2021	79
2022	67
2023	46
2024	35
2025	19
Later years	35
Total lease payments	340
Less imputed interest	21
Total operating lease liabilities	319
Finance Leases
Remainder of 2020	7
2021	13
2022	10
2023	5
2024	3
2025	1
Later years	3
Total lease payments	42
Less imputed interest	3
Total finance lease liabilities	$ 39

LEASES - Minimum Lease Payments

LEASES - Minimum Lease Payments (Details) $ in Millions	Nov. 03, 2019USD ($)
Operating Leases, Future Minimum Lease Payments under Previous Lease Standard
2020	$ 111
2021	77
2022	56
2023	39
2024	28
Later years	26
Total minimum lease payments under operating leases	337
Capital Leases, Future Minimum Lease Payments under Previous Lease Standard
2020	12
2021	10
2022	6
2023	2
2024	1
Later years	1
Total minimum lease payments under finance leases	$ 32

LEASES - Cash Flows (Details)

LEASES - Cash Flows (Details) $ in Millions	6 Months Ended
LEASES - Cash Flows (Details) $ in Millions	May 03, 2020USD ($)
Cash Paid Amounts Included in the Measurement of Lease Liabilities
Operating cash flows from operating leases	$ 64
Operating cash flows from finance leases	1
Financing cash flows from finance leases	9
Right of Use Assets Obtained in Exchange for Lease Liabilities
Operating leases	10
Finance leases	$ 18

LEASES - Lessor Lease Terms (De

LEASES - Lessor Lease Terms (Details) $ in Millions	3 Months Ended	6 Months Ended
LEASES - Lessor Lease Terms (Details) $ in Millions	May 03, 2020USD ($)	May 03, 2020
Lessor
Sales-type lease early termination options		true
Sales-type lease renewal options		true
Sales-type lease option to purchase the underlying equipment		true
Direct financing lease early termination options		true
Direct financing lease renewal options		true
Direct financing lease option to purchase the underlying equipment		true
Operating lease early termination options		true
Operating lease renewal options		true
Operating lease option to purchase the underlying equipment		true
Non-cash charge in other operating expenses for the impairment of equipment on operating leases, pretax	$ 22
Elected to combine lease and nonlease components	true	true
Elected to report consideration related to sales and value added taxes net of the related tax expense		true
COVID
Lessor
Operating lease portfolio granted relief (as a percent)	2.00%	2.00%
Maximum \| COVID
Lessor
Lease payment deferral period	3 months

LEASES - Lease Revenues (Detail

LEASES - Lease Revenues (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
LEASES - Lease Revenues (Details) - USD ($) $ in Millions	May 03, 2020	May 03, 2020
Lessor
Sales-type and direct finance lease revenues	$ 32	$ 68
Operating lease revenues	369	743
Variable lease revenues	6	11
Total lease revenues	$ 407	$ 822

LEASES - Sales-type and Direct

LEASES - Sales-type and Direct Financing Lease Receivables (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019
Sales-type and Direct Financing Lease Receivables
Total sales-type and direct financing lease receivables	$ 1,715	$ 1,930
Guaranteed residual values	175	232
Unguaranteed residual values	92	101
Less unearned finance income	197	212
Financing lease receivables	1,785	2,051
Agriculture and Turf
Sales-type and Direct Financing Lease Receivables
Total sales-type and direct financing lease receivables	792	897
Construction and Forestry
Sales-type and Direct Financing Lease Receivables
Total sales-type and direct financing lease receivables	$ 923	$ 1,033

LEASES - Scheduled Payments on

LEASES - Scheduled Payments on Sales-type and Direct Financings Leases Receivables, Current Year (Details) $ in Millions	May 03, 2020USD ($)
Payments on Sales-type and Direct Financing Leases Receivables
Remainder of 2020	$ 460
2021	670
2022	409
2023	213
2024	103
2025	27
Later years	8
Total	$ 1,890

LEASES - Scheduled Payments o_2

LEASES - Scheduled Payments on Sales-type and Direct Financings Leases Receivables, Prior Year (Details) $ in Millions	Nov. 03, 2019USD ($)
Scheduled Payments on Finance Leases under the Previous Lease Standard
2020	$ 833
2021	557
2022	321
2023	153
2024	53
Later years	13
Total	$ 1,930

LEASES - Cost of Equipment on O

LEASES - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 9,177	$ 9,422
Less accumulated depreciation	1,932	1,855
Equipment on operating leases - net	7,245	7,567	$ 7,040
Operating lease residual value	5,181	5,259
Operating lease residual value guarantees	633	647
Agriculture and Turf
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	7,080	7,257
Construction and Forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 2,097	$ 2,165

LEASES - Lease Payments for Equ

LEASES - Lease Payments for Equipment on Operating Leases (Details) - USD ($) $ in Millions	3 Months Ended
	May 03, 2020	Nov. 03, 2019
Lease Payments for Equipment on Operating Leases
Remainder of 2020	$ 563
2021	932
2022	573
2023	282
2024	107
2025	7
Total	2,464
Non-cash charge in other operating expenses for the impairment of matured operating lease inventory recorded in other assets, pretax	10
Matured operating lease inventory	$ 104	$ 163
Rental Payments for Equipment on Operating Leases
2020		1,086
2021		759
2022		419
2023		193
2024		41
Total		$ 2,498

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Warranty (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
COMMITMENTS AND CONTINGENCIES
Historical claims rate, review period			5 years
Unamortized extended warranty premiums (deferred revenue)	$ 602	$ 525	$ 602	$ 525
Change in Warranty Liability and Unearned Premiums
Beginning of period balance	1,792	1,687	1,800	1,652
Payments	(223)	(234)	(453)	(462)
Amortization of premiums received	(51)	(56)	(110)	(111)
Accruals for warranties	210	256	432	510
Premiums received	69	69	134	134
Foreign exchange	(30)	(8)	(36)	(9)
End of period balance	$ 1,767	$ 1,714	$ 1,767	$ 1,714

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Other (Details) $ in Millions	6 Months Ended
	May 03, 2020USD ($)
Long Term Purchase Commitments
Commitments for the construction and acquisition of property and equipment	$ 254
Restricted Assets and Other Contingent Liabilities
Other restricted assets	75
Miscellaneous contingent liabilities	45
Guarantees, Third-party Receivables
Guarantee Obligations
Guarantee obligations maximum exposure	321
Guarantee obligations accrued losses	$ 12
Guarantee obligations term	6 years

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Instruments (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 04, 2019	Nov. 03, 2019	Apr. 28, 2019
Fair Values of Financial Instruments
Financing receivables - net	$ 27,256		$ 29,195	$ 25,870
Financing receivables securitized - net	4,685		4,383	4,814
Short-term securitization borrowings	4,640		4,321	4,702
Long-term borrowings	34,324	$ 30,249	30,229	28,255
Level 2
Fair Values of Financial Instruments
Long-term borrowings due within one year	7,086		7,433	6,292
Long-term borrowings	35,729		31,260	28,915
Level 3
Fair Values of Financial Instruments
Financing receivables - net	27,428		29,167	25,792
Financing receivables securitized - net	4,757		4,405	4,783
Level 2 and Level 3
Fair Values of Financial Instruments
Short-term securitization borrowings	4,669		4,347	4,711
Carrying Value
Fair Values of Financial Instruments
Financing receivables - net	27,256		29,195	25,870
Financing receivables securitized - net	4,685		4,383	4,814
Short-term securitization borrowings	4,640		4,321	4,702
Long-term borrowings due within one year	7,067		7,428	6,303
Long-term borrowings	34,298		30,229	28,255
Equipment Operations
Fair Values of Financial Instruments
Financing receivables - net	118		65	101
Financing receivables securitized - net	37		44	59
Short-term securitization borrowings	37		44	58
Long-term borrowings	9,947		5,415	4,679
Equipment Operations \| Level 2
Fair Values of Financial Instruments
Long-term borrowings due within one year	477		645	987
Long-term borrowings	11,192		6,138	5,110
Equipment Operations \| Level 3
Fair Values of Financial Instruments
Financing receivables - net	111		61	95
Financing receivables securitized - net	35		43	57
Short-term securitization borrowings	37		45	58
Equipment Operations \| Carrying Value
Fair Values of Financial Instruments
Financing receivables - net	118		65	102
Financing receivables securitized - net	37		44	59
Short-term securitization borrowings	37		44	58
Long-term borrowings due within one year	480		642	982
Long-term borrowings	9,921		5,415	4,679
Financial Services
Fair Values of Financial Instruments
Financing receivables - net	27,138		29,130	25,769
Financing receivables securitized - net	4,648		4,339	4,755
Short-term securitization borrowings	4,603		4,277	4,644
Long-term borrowings	24,377		24,814	23,576
Financial Services \| Level 2
Fair Values of Financial Instruments
Short-term securitization borrowings	4,632		4,302	4,653
Long-term borrowings due within one year	6,609		6,788	5,305
Long-term borrowings	24,537		25,122	23,805
Financial Services \| Level 3
Fair Values of Financial Instruments
Financing receivables - net	27,317		29,106	25,697
Financing receivables securitized - net	4,722		4,362	4,726
Financial Services \| Carrying Value
Fair Values of Financial Instruments
Financing receivables - net	27,138		29,130	25,768
Financing receivables securitized - net	4,648		4,339	4,755
Short-term securitization borrowings	4,603		4,277	4,644
Long-term borrowings due within one year	6,587		6,786	5,321
Long-term borrowings	$ 24,377		$ 24,814	$ 23,576

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liaibilities - Recurring (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019	Nov. 03, 2019
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	$ 626	$ 545	$ 626	$ 545	$ 581
Derivative assets	951	240	951	240	384
Derivative liabilities	199	215	199	215	139
Other Assets
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets	951	240	951	240	384
Accounts Payable and Accrued Expenses
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative liabilities	199	215	199	215	139
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 1
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	114	102	114	102	109
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 1 \| Equity Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Unrealized gain (loss) on equity securities	(8)	5	(2)	5
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 1 \| International Equity Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	2		2
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 1 \| Equity Fund
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	62	58	62	58	59
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 1 \| U.S. Government Debt Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	50	44	50	44	50
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	511	439	511	439	471
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Other Assets
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets	951	240	951	240	384
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Accounts Payable and Accrued Expenses
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative liabilities	199	215	199	215	139
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Interest Rate Contracts \| Other Assets
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets	842	139	842	139	363
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative liabilities	131	165	131	165	65
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Foreign Exchange Contracts \| Other Assets
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets	92	99	92	99	20
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Foreign Exchange Contracts \| Accounts Payable and Accrued Expenses
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative liabilities	68	48	68	48	71
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Cross-Currency Interest Rate Contracts \| Other Assets
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets	17	2	17	2	1
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Cross-Currency Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative liabilities		2		2	3
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| U.S. Government Debt Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	104	73	104	73	81
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Municipal Debt Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	63	55	63	55	60
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Corporate Debt Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	177	148	177	148	165
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| International Debt Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	2	9	2	9	5
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Mortgage-backed Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	165	154	165	154	160
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 3 \| International Debt Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	$ 1	$ 4	$ 1	$ 4	$ 1

FAIR VALUE MEASUREMENTS - Contr

FAIR VALUE MEASUREMENTS - Contractual Maturities of Debt Securities (Details) $ in Millions	May 03, 2020USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost, due in one year or less	$ 21
Amortized cost, due after one through five years	98
Amortized cost, due after five through 10 years	99
Amortized cost, due after 10 years	157
Amortized cost, mortgage-backed securities	156
Amortized cost, debt securities	531
Contractual Maturities of Debt Securities, Fair Value
Fair value, due in one year or less	17
Fair value, due after one through five years	102
Fair value, due after five through 10 years	109
Fair value, due after 10 years	169
Fair value, mortgage-backed securities	165
Fair value, debt securities	$ 562

FAIR VALUE MEASUREMENTS - Recur

FAIR VALUE MEASUREMENTS - Recurring, Level 3 Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis - Level 3 - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Fair Value, Recurring Level 3 Measurements from Available-for-Sale Marketable Securities
Beginning of period balance	$ 1	$ 6	$ 1	$ 8
Principal payments		(2)		(5)
Other				1
End of period balance	$ 1	$ 4	$ 1	$ 4

FAIR VALUE MEASUREMENTS - Nonre

FAIR VALUE MEASUREMENTS - Nonrecurring Measurements (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	May 03, 2020	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Equipment on operating leases - net	$ 7,245	$ 7,245	$ 7,567	$ 7,040
Losses, Equipment on operating leases - net	22
Losses, Other assets	10
Fair Value, Nonrecurring Measurements \| Level 1
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Investments in unconsolidated affiliates	10	10
Losses, Investments in unconsolidated affiliates	20	20
Fair Value, Nonrecurring Measurements \| Level 3
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Equipment on operating leases - net	371	371	855
Losses, Equipment on operating leases - net	22	22
Property and equipment - net	70	70
Losses, Property and equipment - net	62	62
Other assets	59	59	$ 142
Losses, Other assets	$ 10	$ 10

DERIVATIVE INSTRUMENTS - Cash F

DERIVATIVE INSTRUMENTS - Cash Flow Hedges (Details) - USD ($) $ in Millions	6 Months Ended
	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Cash Flow Hedges
Cash flow hedge loss recorded in OCI to be reclassified within twelve months	$ (17)
Gains or losses reclassified from OCI to earnings	0
Interest Rate Contracts \| Cash Flow Hedges Member \| Designated as Hedging Instruments
Cash Flow Hedges
Notional amount of cash flow hedge derivatives	$ 2,450	$ 3,150	$ 2,800

DERIVATIVE INSTRUMENTS - Fair V

DERIVATIVE INSTRUMENTS - Fair Value Hedges (Details) - Interest Rate Contracts - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Fair Value Hedges Member \| Designated as Hedging Instruments
Fair Value Hedges
Notional amount of interest rate fair value hedge derivatives	$ 8,983	$ 8,717	$ 9,464
Long-term Borrowings Due in One Year
Borrowings Designated in Fair Value Hedging Relationships
Carrying Amount of Hedged Item	214	412	190
Active Hedging Relationships		(1)	1
Discontinued Relationships	(2)	(4)	(4)
Total	(2)	(5)	(3)
Long-term Borrowings
Borrowings Designated in Fair Value Hedging Relationships
Carrying Amount of Hedged Item	9,496	8,532	9,169
Active Hedging Relationships	726	295	(31)
Discontinued Relationships	36	(32)	(38)
Total	$ 762	$ 263	$ (69)

DERIVATIVE INSTRUMENTS - Not De

DERIVATIVE INSTRUMENTS - Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Interest Rate Contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 7,975	$ 9,166	$ 7,775
Foreign Exchange Contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	4,430	4,962	7,123
Cross-Currency Interest Rate Contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 89	$ 92	$ 98

DERIVATIVE INSTRUMENTS - Fair_2

DERIVATIVE INSTRUMENTS - Fair Value (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
Fair Value of Derivative Instruments
Total derivative assets	$ 951	$ 384	$ 240
Total derivative liabilities	199	139	215
Other Assets
Fair Value of Derivative Instruments
Total derivative assets	951	384	240
Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	199	139	215
Designated as Hedging Instruments \| Other Assets
Fair Value of Derivative Instruments
Total derivative assets	758	332	105
Designated as Hedging Instruments \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	30	28	125
Designated as Hedging Instruments \| Interest Rate Contracts \| Other Assets
Fair Value of Derivative Instruments
Total derivative assets	758	332	105
Designated as Hedging Instruments \| Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	30	28	125
Not Designated as Hedging Instruments \| Other Assets
Fair Value of Derivative Instruments
Total derivative assets	193	52	135
Not Designated as Hedging Instruments \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	169	111	90
Not Designated as Hedging Instruments \| Interest Rate Contracts \| Other Assets
Fair Value of Derivative Instruments
Total derivative assets	84	31	34
Not Designated as Hedging Instruments \| Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	101	37	40
Not Designated as Hedging Instruments \| Foreign Exchange Contracts \| Other Assets
Fair Value of Derivative Instruments
Total derivative assets	92	20	99
Not Designated as Hedging Instruments \| Foreign Exchange Contracts \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	68	71	48
Not Designated as Hedging Instruments \| Cross-Currency Interest Rate Contracts \| Other Assets
Fair Value of Derivative Instruments
Total derivative assets	$ 17	1	2
Not Designated as Hedging Instruments \| Cross-Currency Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities		$ 3	$ 2

DERIVATIVE INSTRUMENTS - Gains

DERIVATIVE INSTRUMENTS - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 237	$ 75	$ 245	$ 72
Interest Rate Contracts
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	(15)	(6)	(17)	(14)
Interest Rate Contracts \| Net Sales
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	(20)	(7)	(24)	(17)
Interest Rate Contracts \| Interest Expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	415	141	511	274
Cash flow hedges, reclassified from OCI	(4)	3	(6)	5
Not designated as hedges, gains (losses)	1	(10)	3	(18)
Foreign Exchange Contracts \| Cost of Sales
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	81	12	92	7
Foreign Exchange Contracts \| Other Operating Expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 175	$ 80	$ 174	$ 100

DERIVATIVE INSTRUMENTS - Counte

DERIVATIVE INSTRUMENTS - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	May 03, 2020	Nov. 03, 2019	Apr. 28, 2019
DERIVATIVE INSTRUMENTS
Fair value of derivatives with credit-risk-related contingent features in a liability position	$ 130	$ 68	$ 166
Cash collateral received	319	0	1
Cash collateral paid		0
Derivative Assets
Gross amounts recognized	951	384	240
Netting arrangements	(125)	(70)	(99)
Collateral received	(319)	0	(1)
Net amount	507	314	140
Derivative Liabilities
Gross amounts recognized	199	139	215
Netting arrangements	(125)	(70)	(99)
Collateral paid		0
Net amount	$ 74	$ 69	$ 116

STOCK OPTION AND RESTRICTED S_2

STOCK OPTION AND RESTRICTED STOCK AWARDS (Details) - $ / shares shares in Thousands	1 Months Ended	6 Months Ended
	Dec. 29, 2019	May 03, 2020
Share-based Compensation, Aggregate Disclosures
Number of additional shares authorized for grant related to stock option and restricted stock awards		18,400
Stock Options
Share-based Compensation, Aggregate Disclosures
Options granted (in shares)	495
Options granted, exercise price (in dollars per share)	$ 169.70
Options granted, fair value (in dollars per share)	$ 35.83
Options outstanding (in shares)		6,600
Options outstanding, weighted-average exercise price (in dollars per share)		$ 99.65
Fair value assumptions method used	lattice model
Restricted Stock Units
Share-based Compensation, Aggregate Disclosures
Restricted stock units granted (in shares)		356
Restricted Stock Units Subject to Service-based Conditions
Share-based Compensation, Aggregate Disclosures
Restricted stock units granted (in shares)		289
Restricted stock units granted, weighted-average fair value (in dollars per unit)		$ 168.99
Restricted Stock Units Subject to Performance/Service-based Conditions
Share-based Compensation, Aggregate Disclosures
Restricted stock units granted (in shares)		67
Restricted stock units granted, weighted-average fair value (in dollars per unit)		$ 160.81

EMPLOYEE-SEPARATION PROGRAM (De

EMPLOYEE-SEPARATION PROGRAM (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	May 03, 2020	Feb. 02, 2020	May 03, 2020	Oct. 31, 2021	Nov. 01, 2020
OPEB
Employee-Separation Program
Curtailment expense			$ (21)
Employee-Separation Program
Employee-Separation Program
Total employee-separation programs' expenses, pretax	$ 9		$ 136
Employee-Separation Program \| OPEB \| United States
Employee-Separation Program
Curtailment expense		$ (21)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible List]		Other Cost of Operating Revenue
Employee-Separation Program \| Forecasted
Employee-Separation Program
Total employee-separation programs' expenses, pretax					$ 138
Employee-separation programs savings				$ 85	$ 65
Employee-Separation Program \| Agriculture and Turf
Employee-Separation Program
Employee-separation programs' expenses allocation (as a percent)			74.00%
Employee-Separation Program \| Construction and Forestry
Employee-Separation Program
Employee-separation programs' expenses allocation (as a percent)			24.00%
Employee-Separation Program \| Financial Services
Employee-Separation Program
Employee-separation programs' expenses allocation (as a percent)			2.00%
Employee-Separation Program \| Operating Profit
Employee-Separation Program
Total employee-separation programs' expenses, pretax			$ 113
Employee-Separation Program \| Cost of Sales
Employee-Separation Program
Employee-separation programs' expenses allocation (as a percent)			36.00%
Employee-Separation Program \| Research and Development
Employee-Separation Program
Employee-separation programs' expenses allocation (as a percent)			16.00%
Employee-Separation Program \| Selling, Administrative, and General Expenses
Employee-Separation Program
Employee-separation programs' expenses allocation (as a percent)			48.00%

IMPAIRMENTS (Details)

IMPAIRMENTS (Details) $ in Millions	3 Months Ended
IMPAIRMENTS (Details) $ in Millions	May 03, 2020USD ($)
Asset Impairment
Non-cash charge in other operating expenses for the impairment of equipment on operating leases, pretax	$ 22
Non-cash charge in other operating expenses for the impairment of matured operating lease inventory recorded in other assets, pretax	10
Construction and Forestry
Asset Impairment
Non-cash charge in equity in loss of unconsolidated affiliates for an other than temporary decline in value, pretax	20
Non-cash charge in equity in loss of unconsolidated affiliates for an other than temporary decline in value, after-tax	20
Construction and Forestry \| Cost of Sales
Asset Impairment
Non-cash charge for impairment of fixed assets, pretax	62
Non-cash charge for impairment of fixed assets, after-tax	62
Financial Services
Asset Impairment
Non-cash charge in other operating expenses for the impairment of equipment on operating leases, pretax	22
Non-cash charge in other operating expenses for the impairment of matured operating lease inventory recorded in other assets, pretax	10
Income tax benefit for the non-cash charge for impairments of equipment on operating leases and matured operating lease inventory	$ 9

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTEREST (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	May 03, 2020	May 03, 2020
Redeemable Noncontrolling Interest
Noncontrolling interest redemption	$ 14	$ 14
Agriculture and Turf
Redeemable Noncontrolling Interest
Noncontrolling interest redemption (as a percent)	20.00%
Noncontrolling interest redemption	$ 14
Noncontrolling interest redemption gain or loss	$ 0

SUPPLEMENTAL CONSOLIDATING DA_3

SUPPLEMENTAL CONSOLIDATING DATA - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Net Sales and Revenues
Net sales and revenues	$ 9,253	$ 11,342	$ 16,884	$ 19,326
Costs and Expenses
Research and development expenses	406	457	831	864
Selling, administrative and general expenses	906	947	1,715	1,710
Interest expense	342	351	678	704
Total	8,325	9,869	15,387	17,175
Income of Consolidated Group before Income Taxes	928	1,473	1,497	2,151
Provision for income taxes	245	343	295	528
Income of Consolidated Group	683	1,130	1,202	1,623
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Net Income	666	1,136	1,184	1,636
Less: Net income attributable to noncontrolling interests	0	1	2	3
Net Income Attributable to Deere & Company	666	1,135	1,182	1,633
Net Sales
Net Sales and Revenues
Net sales	8,224	10,273	14,754	17,214
Costs and Expenses
Costs and expenses	6,294	7,755	11,371	13,186
Finance and Interest Income
Net Sales and Revenues
Net sales and revenues	849	838	1,745	1,653
Other
Net Sales and Revenues
Net sales and revenues	180	231	385	459
Costs and Expenses
Costs and expenses	377	359	792	711
Equipment Operations
Net Sales and Revenues
Net sales and revenues	8,428	10,511	15,194	17,691
Costs and Expenses
Research and development expenses	406	457	831	864
Selling, administrative and general expenses	700	795	1,373	1,440
Interest expense	83	44	146	115
Interest compensation to Financial Services	73	92	137	162
Total	7,577	9,210	13,951	15,906
Income of Consolidated Group before Income Taxes	851	1,301	1,243	1,785
Provision for income taxes	228	291	237	436
Income of Consolidated Group	623	1,010	1,006	1,349
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates	43	126	178	287
Net Income	666	1,136	1,184	1,636
Less: Net income attributable to noncontrolling interests		1	2	3
Net Income Attributable to Deere & Company	666	1,135	1,182	1,633
Equipment Operations \| Financial Services
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates	60	121	197	275
Equipment Operations \| Other
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates	(17)	5	(19)	12
Equipment Operations \| Net Sales
Net Sales and Revenues
Net sales and revenues	8,224	10,273	14,754	17,214
Costs and Expenses
Costs and expenses	6,294	7,755	11,372	13,187
Equipment Operations \| Finance and Interest Income
Net Sales and Revenues
Net sales and revenues	23	25	49	49
Equipment Operations \| Other
Net Sales and Revenues
Net sales and revenues	181	213	391	428
Costs and Expenses
Costs and expenses	21	67	92	138
Financial Services
Net Sales and Revenues
Net sales and revenues	967	982	1,965	1,909
Costs and Expenses
Selling, administrative and general expenses	208	154	346	275
Interest expense	266	312	541	599
Total	890	810	1,711	1,543
Income of Consolidated Group before Income Taxes	77	172	254	366
Provision for income taxes	17	52	58	92
Income of Consolidated Group	60	120	196	274
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates		1	1	1
Net Income	60	121	197	275
Net Income Attributable to Deere & Company	60	121	197	275
Financial Services \| Financial Services
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates		1	1	1
Financial Services \| Finance and Interest Income
Net Sales and Revenues
Net sales and revenues	906	910	1,841	1,776
Financial Services \| Other
Net Sales and Revenues
Net sales and revenues	61	72	124	133
Costs and Expenses
Costs and expenses	$ 416	$ 344	$ 824	$ 669

SUPPLEMENTAL CONSOLIDATING DA_4

SUPPLEMENTAL CONSOLIDATING DATA - Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Millions	May 03, 2020	Feb. 02, 2020	Nov. 04, 2019	Nov. 03, 2019	Apr. 28, 2019	Jan. 27, 2019	Oct. 28, 2018
Assets
Cash and cash equivalents	$ 8,900			$ 3,857	$ 3,484
Marketable securities	626			581	545
Receivables from unconsolidated subsidiaries and affiliates	32			46	34
Trade accounts and notes receivable - net	5,986			5,230	7,519
Financing receivables - net	27,256			29,195	25,870
Financing receivables securitized - net	4,685			4,383	4,814
Other receivables	1,212			1,487	1,477
Equipment on operating leases - net	7,245			7,567	7,040
Inventories	6,171			5,975	7,161
Property and equipment - net	5,685			5,973	5,757
Investments in unconsolidated subsidiaries and affiliates	192			215	235
Goodwill	2,917			2,917	3,025		$ 3,101
Other intangible assets - net	1,311		$ 1,357	1,380	1,476
Retirement benefits	960			840	1,383
Deferred income taxes	1,435			1,466	1,039
Other assets	2,713		2,301	1,899	1,871
Total Assets	77,326			73,011	72,730
Liabilities
Short-term borrowings	11,179		10,795	10,784	11,762
Short-term securitization borrowings	4,640			4,321	4,702
Payables to unconsolidated subsidiaries and affiliates	91			142	200
Accounts payable and accrued expenses	9,072		10,004	9,656	9,626
Deferred income taxes	475			495	514
Long-term borrowings	34,324		$ 30,249	30,229	28,255
Retirement benefits and other liabilities	5,680			5,953	5,733
Total liabilities	65,461			61,580	60,792
Commitments and contingencies (Note 16)
Redeemable noncontrolling interest (Note 22)				14	14
Stockholders' Equity
Common stock, $1 par value (issued shares at May 3, 2020 - 536,431,204)	$ 4,713			4,642	4,559
Common stock, par value (in dollars per share)	$ 1
Common stock, issued shares	536,431,204
Common stock in treasury	$ (17,690)			(17,474)	(16,739)
Retained earnings	30,556			29,852	28,709
Accumulated other comprehensive income (loss)	(5,715)			(5,607)	(4,610)
Total Deere & Company stockholders' equity	11,864			11,413	11,919
Noncontrolling interests	1			4	5
Total stockholders' equity	11,865	$ 11,930		11,417	11,924	$ 11,333	$ 11,291
Total Liabilities and Stockholders' Equity	77,326			73,011	72,730
Equipment Operations
Assets
Cash and cash equivalents	7,466			3,175	2,894
Marketable securities	3			1	7
Receivables from unconsolidated subsidiaries and affiliates	2,248			2,017	1,091
Trade accounts and notes receivable - net	1,419			1,482	1,608
Financing receivables - net	118			65	101
Financing receivables securitized - net	37			44	59
Other receivables	1,072			1,376	1,325
Inventories	6,171			5,975	7,161
Property and equipment - net	5,642			5,929	5,712
Investments in unconsolidated subsidiaries and affiliates	5,119			5,326	5,187
Goodwill	2,917			2,917	3,025
Other intangible assets - net	1,311			1,380	1,476
Retirement benefits	908			836	1,325
Deferred income taxes	1,796			1,896	1,575
Other assets	1,506			1,158	1,235
Total Assets	37,733			33,577	33,781
Liabilities
Short-term borrowings	1,398			987	1,337
Short-term securitization borrowings	37			44	58
Payables to unconsolidated subsidiaries and affiliates	91			142	200
Accounts payable and accrued expenses	8,416			9,232	9,470
Deferred income taxes	395			414	461
Long-term borrowings	9,947			5,415	4,679
Retirement benefits and other liabilities	5,584			5,912	5,638
Total liabilities	25,868			22,146	21,843
Commitments and contingencies (Note 16)
Redeemable noncontrolling interest (Note 22)				14	14
Stockholders' Equity
Common stock, $1 par value (issued shares at May 3, 2020 - 536,431,204)	$ 4,713			4,642	4,559
Common stock, par value (in dollars per share)	$ 1
Common stock, issued shares	536,431,204
Common stock in treasury	$ (17,690)			(17,474)	(16,739)
Retained earnings	30,556			29,852	28,709
Accumulated other comprehensive income (loss)	(5,715)			(5,607)	(4,610)
Total Deere & Company stockholders' equity	11,864			11,413	11,919
Noncontrolling interests	1			4	5
Total stockholders' equity	11,865			11,417	11,924
Total Liabilities and Stockholders' Equity	37,733			33,577	33,781
Financial Services
Assets
Cash and cash equivalents	1,434			682	590
Marketable securities	623			580	538
Trade accounts and notes receivable - net	6,050			5,153	7,554
Financing receivables - net	27,138			29,130	25,769
Financing receivables securitized - net	4,648			4,339	4,755
Other receivables	148			116	166
Equipment on operating leases - net	7,245			7,567	7,040
Property and equipment - net	43			44	45
Investments in unconsolidated subsidiaries and affiliates	17			16	16
Retirement benefits	58			58	58
Deferred income taxes	52			57	73
Other assets	1,208			741	636
Total Assets	48,664			48,483	47,240
Liabilities
Short-term borrowings	9,781			9,797	10,425
Short-term securitization borrowings	4,603			4,277	4,644
Payables to unconsolidated subsidiaries and affiliates	2,216			1,970	1,057
Accounts payable and accrued expenses	2,149			1,836	1,813
Deferred income taxes	493			568	662
Long-term borrowings	24,377			24,814	23,576
Retirement benefits and other liabilities	101			94	95
Total liabilities	43,720			43,356	42,272
Commitments and contingencies (Note 16)
Stockholders' Equity
Common stock, $1 par value (issued shares at May 3, 2020 - 536,431,204)	2,114			2,107	2,107
Retained earnings	3,349			3,378	3,228
Accumulated other comprehensive income (loss)	(519)			(358)	(367)
Total Deere & Company stockholders' equity	4,944			5,127	4,968
Total stockholders' equity	4,944			5,127	4,968
Total Liabilities and Stockholders' Equity	$ 48,664			$ 48,483	$ 47,240

SUPPLEMENTAL CONSOLIDATING DA_5

SUPPLEMENTAL CONSOLIDATING DATA - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 03, 2020	Apr. 28, 2019	May 03, 2020	Apr. 28, 2019
Cash Flows from Operating Activities
Net income	$ 666	$ 1,136	$ 1,184	$ 1,636
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision for credit losses			107	37
Provision for depreciation and amortization			1,067	1,016
Impairment charges			114
Undistributed earnings of unconsolidated subsidiaries and affiliates			(8)	(9)
Credit for deferred income taxes			(61)	(282)
Changes in assets and liabilities:
Trade receivables and Equipment Operations' financing receivables			(491)	(2,731)
Inventories			(496)	(1,394)
Accounts payable and accrued expenses			(707)	(66)
Accrued income taxes payable/receivable			(173)	157
Retirement benefits			58	20
Other			134	77
Net cash provided by (used for) operating activities			776	(1,495)
Cash Flows from Investing Activities
Proceeds from maturities and sales of marketable securities			39	30
Proceeds from sales of equipment on operating leases			898	823
Purchases of marketable securities			(71)	(59)
Purchases of property and equipment			(441)	(491)
Cost of equipment on operating leases acquired			(960)	(924)
Collateral on derivatives - net			319	60
Other			(11)	(100)
Net cash used for investing activities			30	(372)
Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings			1,138	1,570
Proceeds from long-term borrowings			7,275	4,232
Payments of long-term borrowings			(3,315)	(3,427)
Proceeds from issuance of common stock			70	95
Repurchases of common stock			(263)	(481)
Dividends paid			(481)	(462)
Other			(81)	(54)
Net cash provided by (used for) financing activities			4,343	1,473
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash			(102)	(35)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash			5,047	(429)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period			3,956	4,015
Cash, Cash Equivalents, and Restricted Cash at End of Period	9,003	3,586	9,003	3,586
Equipment Operations
Cash Flows from Operating Activities
Net income	666	1,136	1,184	1,636
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision for credit losses			9	5
Provision for depreciation and amortization			515	525
Impairment charges			82
Undistributed earnings of unconsolidated subsidiaries and affiliates			21	30
Credit for deferred income taxes			9	(118)
Changes in assets and liabilities:
Trade receivables and Equipment Operations' financing receivables			(80)	(271)
Inventories			(242)	(1,086)
Accounts payable and accrued expenses			(659)	247
Accrued income taxes payable/receivable			(154)	(344)
Retirement benefits			50	16
Other			107	68
Net cash provided by (used for) operating activities			842	708
Cash Flows from Investing Activities
Proceeds from maturities and sales of marketable securities				5
Purchases of marketable securities				(2)
Purchases of property and equipment			(440)	(490)
Collateral on derivatives - net				1
Other			(40)	(52)
Net cash used for investing activities			(480)	(538)
Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings			554	(131)
Change in intercompany receivables/payables			(292)	611
Proceeds from long-term borrowings			4,602	120
Payments of long-term borrowings			(152)	(158)
Proceeds from issuance of common stock			70	95
Repurchases of common stock			(263)	(481)
Dividends paid			(481)	(462)
Other			(61)	(35)
Net cash provided by (used for) financing activities			3,977	(441)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash			(58)	(27)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash			4,281	(298)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period			3,196	3,202
Cash, Cash Equivalents, and Restricted Cash at End of Period	7,477	2,904	7,477	2,904
Financial Services
Cash Flows from Operating Activities
Net income	60	121	197	275
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision for credit losses			98	32
Provision for depreciation and amortization			621	557
Impairment charges			32
Undistributed earnings of unconsolidated subsidiaries and affiliates			(1)	(1)
Credit for deferred income taxes			(70)	(164)
Changes in assets and liabilities:
Accounts payable and accrued expenses			30	53
Accrued income taxes payable/receivable			(19)	501
Retirement benefits			8	4
Other			95	99
Net cash provided by (used for) operating activities			991	1,356
Cash Flows from Investing Activities
Collections of receivables (excluding trade and wholesale)			10,385	9,894
Proceeds from maturities and sales of marketable securities			39	25
Proceeds from sales of equipment on operating leases			898	823
Cost of receivables acquired (excluding trade and wholesale)			(9,885)	(9,423)
Purchases of marketable securities			(71)	(57)
Purchases of property and equipment			(1)	(1)
Cost of equipment on operating leases acquired			(1,304)	(1,341)
Increase in trade and wholesale receivables			(673)	(3,028)
Collateral on derivatives - net			319	59
Other			(36)	(39)
Net cash used for investing activities			(329)	(3,088)
Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings			584	1,701
Change in intercompany receivables/payables			292	(611)
Proceeds from long-term borrowings			2,673	4,112
Payments of long-term borrowings			(3,163)	(3,269)
Dividends paid			(225)	(312)
Other			(13)	(12)
Net cash provided by (used for) financing activities			148	1,609
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash			(44)	(8)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash			766	(131)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period			760	813
Cash, Cash Equivalents, and Restricted Cash at End of Period	$ 1,526	$ 682	$ 1,526	$ 682