Deere & Company (DE) 10-K15 Dec 222022 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Oct. 30, 2022	Nov. 30, 2022	Apr. 29, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Oct. 30, 2022
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		298,237,257
Entity Public Float			$ 115,295,045,197
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34
Auditor Location	Chicago, Illinois
Current Fiscal Year End Date	--10-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
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
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

STATEMENTS OF CONSOLIDATED INCO

STATEMENTS OF CONSOLIDATED INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Net Sales and Revenues
Net sales and revenues	$ 52,577	$ 44,024	$ 35,540
Costs and Expenses
Research and development expenses	1,912	1,587	1,644
Selling, administrative and general expenses	3,863	3,383	3,477
Interest expense	1,062	993	1,247
Other operating expenses	1,275	1,343	1,612
Total	43,450	36,422	31,657
Income of Consolidated Group before Income Taxes	9,127	7,602	3,883
Provision for income taxes	2,007	1,658	1,082
Income of Consolidated Group	7,120	5,944	2,801
Equity in income (loss) of unconsolidated affiliates	10	21	(48)
Net Income	7,130	5,965	2,753
Less: Net income (loss) attributable to noncontrolling interests	(1)	2	2
Net Income Attributable to Deere & Company	$ 7,131	$ 5,963	$ 2,751
Per Share Data
Basic (in dollars per share)	$ 23.42	$ 19.14	$ 8.77
Diluted (in dollars per share)	23.28	18.99	8.69
Dividends declared (in dollars per share)	4.36	3.61	3.04
Dividends paid (in dollars per share)	$ 4.28	$ 3.32	$ 3.04
Average Shares Outstanding
Basic (in shares)	304.5	311.6	313.5
Diluted (in shares)	306.3	314	316.6
Net Sales
Net Sales and Revenues
Net sales and revenues	$ 47,917	$ 39,737	$ 31,272
Cost of Sales
Cost of sales	35,338	29,116	23,677
Finance and Interest Income
Net Sales and Revenues
Net sales and revenues	3,365	3,296	3,450
Other income
Net Sales and Revenues
Net sales and revenues	$ 1,295	$ 991	$ 818

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME
Net Income	$ 7,130	$ 5,965	$ 2,753
Other Comprehensive Income (Loss), Net of Income Taxes
Retirement benefits adjustment	645	2,884	(3)
Cumulative translation adjustment	(1,116)	118	55
Unrealized gain on derivatives	63	16	2
Unrealized gain (loss) on debt securities	(109)	(18)	14
Other Comprehensive Income (Loss), Net of Income Taxes	(517)	3,000	68
Comprehensive Income of Consolidated Group	6,613	8,965	2,821
Less: Comprehensive income (loss) attributable to noncontrolling interests	(16)	2	2
Comprehensive Income Attributable to Deere & Company	$ 6,629	$ 8,963	$ 2,819

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
ASSETS
Cash and cash equivalents	$ 4,774	$ 8,017
Marketable securities	734	728
Trade accounts and notes receivable - net	6,410	4,208
Other receivables	2,492	1,765
Equipment on operating leases - net	6,623	6,988
Inventories	8,495	6,781
Property and equipment - net	6,056	5,820
Goodwill	3,687	3,291
Other intangible assets - net	1,218	1,275
Retirement benefits	3,730	3,601
Deferred income taxes	824	1,037
Other assets	2,417	2,145
Total Assets	90,030	84,114
LIABILITIES
Short-term borrowings	12,592	10,919
Short-term securitization borrowings	5,711	4,605
Accounts payable and accrued expenses	14,822	12,348
Deferred income taxes	495	576
Long-term borrowings	33,596	32,888
Retirement benefits and other liabilities	2,457	4,344
Total liabilities	69,673	65,680
Commitments and contingencies (Note 20)
Redeemable noncontrolling interest (Note 3)	92
STOCKHOLDERS' EQUITY
Common stock, $1 par value (authorized - 1,200,000,000 shares; issued - 536,431,204 shares in 2022 and 2021), at paid-in amount	5,165	5,054
Common stock in treasury, 237,659,289 shares in 2022 and 228,366,144 shares in 2021, at cost	(24,094)	(20,533)
Retained earnings	42,247	36,449
Accumulated other comprehensive income (loss)	(3,056)	(2,539)
Total Deere & Company stockholders' equity	20,262	18,431
Noncontrolling interests	3	3
Total stockholders' equity	20,265	18,434
Total Liabilities and Stockholders' Equity	90,030	84,114
Unrestricted
ASSETS
Financing receivables - net	36,634	33,799
Securitized
ASSETS
Financing receivables - net	$ 5,936	$ 4,659
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings
Other assets	$ 155	$ 107
Total Assets	$ 6,091	$ 4,766

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 30, 2022	Oct. 31, 2021
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized shares	1,200,000,000	1,200,000,000
Common stock, issued shares	536,431,204	536,431,204
Common stock in treasury, shares	237,659,289	228,366,144

STATEMENTS OF CONSOLIDATED CASH

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Cash Flows from Operating Activities
Net income	$ 7,130	$ 5,965	$ 2,753
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses	192	(6)	110
Provision for depreciation and amortization	1,895	2,050	2,118
Impairment charges	88	50	194
Share-based compensation expense	85	82	81
Loss on sales of businesses and unconsolidated affiliates			24
Gain on remeasurement of previously held equity investment	(326)
Credit for deferred income taxes	(66)	(441)	(11)
Changes in assets and liabilities:
Trade, notes, and financing receivables related to sales	(2,483)	969	2,009
Inventories	(2,091)	(2,497)	397
Accounts payable and accrued expenses	1,133	1,884	(7)
Accrued income taxes payable/receivable	141	11	8
Retirement benefits	(1,015)	29	(537)
Other	16	(370)	344
Net cash provided by operating activities	4,699	7,726	7,483
Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales)	20,907	18,959	17,381
Proceeds from sales of equipment on operating leases	2,093	2,094	1,783
Cost of receivables acquired (excluding receivables related to sales)	(26,300)	(23,653)	(19,965)
Acquisitions of businesses, net of cash acquired	(498)	(244)	(66)
Purchases of property and equipment	(1,134)	(848)	(820)
Cost of equipment on operating leases acquired	(2,654)	(1,732)	(1,836)
Collateral on derivatives - net	(642)	(281)	268
Other	(257)	(45)	(64)
Net cash used for investing activities	(8,485)	(5,750)	(3,319)
Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings	3,852	818	(1,360)
Proceeds from long-term borrowings	10,358	8,722	9,271
Payments of long-term borrowings	(8,445)	(7,090)	(7,383)
Proceeds from issuance of common stock	63	148	331
Repurchases of common stock	(3,597)	(2,538)	(750)
Dividends paid	(1,313)	(1,040)	(956)
Other	(92)	(98)	(133)
Net cash provided by (used for) financing activities	826	(1,078)	(980)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	(224)	55	32
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	(3,184)	953	3,216
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year	8,125	7,172	3,956
Cash, Cash Equivalents, and Restricted Cash at End of Year	4,941	8,125	7,172
Components of Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents	4,774	8,017	7,066
Restricted cash (Other assets)	$ 167	$ 108	$ 106
Balance sheet location of restricted cash	Other assets	Other assets	Other assets
Total cash, cash equivalents, and restricted cash	$ 4,941	$ 8,125	$ 7,172

STATEMENTS OF CHANGES IN CONSOL

STATEMENTS OF CHANGES IN CONSOLIDATED STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Common Stock	Treasury Stock	Retained Earnings Cumulative Effect from Adoption	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Cumulative Effect from Adoption	Total
Balance at Nov. 03, 2019	$ 4,642			$ 29,852	$ (5,607)	$ 4		$ 11,417
Balance at Nov. 03, 2019		$ (17,474)
Increase (Decrease) in Stockholders' Equity
Net income				2,751		1		2,752
Other comprehensive income (loss)					68			68
Repurchases of common stock		(750)						(750)
Treasury shares reissued		159						159
Dividends declared				(955)		(1)		(956)
Share based awards and other	253			(2)		3		254
Balance (ASU 2016-13) at Nov. 01, 2020			$ (35)				$ (35)
Balance at Nov. 01, 2020	4,895			31,646	(5,539)	7		12,944
Balance at Nov. 01, 2020		(18,065)
Redeemable Noncontrolling Interest - Balance at Nov. 03, 2019								14
Increase (Decrease) in Redeemable Noncontrolling Interest
Net income (loss)								1
Dividends declared								(1)
Noncontrolling interest redemption (Note 4)								(14)
Net income				5,963		2		5,965
Other comprehensive income (loss)					3,000			3,000
Repurchases of common stock		(2,538)						(2,538)
Treasury shares reissued		70						70
Dividends declared				(1,125)		(2)		(1,127)
Share based awards and other	159					(4)		155
Balance at Oct. 31, 2021	5,054			36,449	(2,539)	3		18,434
Balance at Oct. 31, 2021		(20,533)						(20,533)
Increase (Decrease) in Stockholders' Equity
Net income				7,131		2		7,133
Other comprehensive income (loss)					(517)			(517)
Repurchases of common stock		(3,597)						(3,597)
Treasury shares reissued		36						36
Dividends declared				(1,327)		(2)		(1,329)
Share based awards and other	111			(6)				105
Balance at Oct. 30, 2022	$ 5,165			$ 42,247	$ (3,056)	$ 3		20,265
Balance at Oct. 30, 2022		$ (24,094)						(24,094)
Increase (Decrease) in Redeemable Noncontrolling Interest
Acquisitions (See Note 3)								104
Net income (loss)								(3)
Other comprehensive loss								(15)
Share based awards and other								6
Redeemable Noncontrolling Interest - Balance at Oct. 30, 2022								$ 92

ORGANIZATION AND CONSOLIDATION

ORGANIZATION AND CONSOLIDATION	12 Months Ended
ORGANIZATION AND CONSOLIDATION	Oct. 30, 2022
ORGANIZATION AND CONSOLIDATION
ORGANIZATION AND CONSOLIDATION	1. ORGANIZATION AND CONSOLIDATION Deere & Company has been developing innovative solutions to help its customers become more profitable for 185 years. References to Deere & Company, John Deere, Deere, or the company include its consolidated subsidiaries and consolidated variable interest entities (VIEs). The company is managed through the following operating segments: production and precision agriculture (PPA), small agriculture and turf (SAT), construction and forestry (CF), and financial services (FS). References to “equipment operations” include production and precision agriculture, small agriculture and turf, and construction and forestry, while references to “agriculture and turf” include both production and precision agriculture and small agriculture and turf. Principles of Consolidation The consolidated financial statements represent the consolidation of all companies in which Deere & Company has a controlling interest. Certain VIEs are consolidated since the company is the primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIEs. The company consolidates certain VIEs related to retail note securitizations (see Note 12). Deere & Company records its investment in each unconsolidated affiliated company (20 to 50 percent ownership) at cost, plus or minus the company’s share of the profit or loss after acquisition and further reduced for any dividends (see Note 16). Other investments (less than 20 percent ownership) are recorded at cost. Fiscal Year The company uses a 52/53 week fiscal year ending on the last Sunday in the reporting period, which generally occurs near the end of October. An additional week is included in the fourth fiscal quarter every five or six years to realign the company’s fiscal quarters with the calendar. The fiscal year ends for 2022, 2021, and 2020 were October 30, 2022, October 31, 2021, and November 1, 2020, respectively. Fiscal years 2022, 2021, and 2020 contained 52 weeks. Unless otherwise stated, references to particular years or quarters refer to the company’s fiscal years and the associated periods in those fiscal years. Wirtgen Reporting Lag Removal Prior to November 2, 2020, the operating results of the Wirtgen Group (Wirtgen) were incorporated into the company’s consolidated financial statements using a one-month lag period. The reporting lag was eliminated resulting in one additional month of Wirtgen activity in 2021. The effect was an increase to fiscal year 2021 “Net sales” of $270 million, which the company considers immaterial to construction and forestry’s annual net sales. Fiscal year 2020 results were not restated. Argentina The company has equipment operations and financial services operations in Argentina. The U.S. dollar has historically been the functional currency for the company’s Argentina operations, as its business is indexed to the U.S. dollar due to the highly inflationary conditions. The Argentine government has certain capital and currency controls that restrict the company’s ability to access U.S. dollars in Argentina and remit earnings from its Argentine operations. As of October 30, 2022 and October 31, 2021, the company's net investment in Argentina was approximately $742 million and $578 million, respectively. Net sales and revenues from the company’s Argentine operations represented approximately 1 percent of consolidated net sales and revenues for 2022. The company has employed mechanisms to convert Argentine pesos into U.S. dollars to the extent possible. The net peso exposure was not material as of October 30, 2022 and October 31, 2021. Argentine peso-denominated monetary assets and liabilities are remeasured at each balance sheet date using the official currency exchange rate.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS	12 Months Ended
	Oct. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS The following are significant accounting policies in addition to those included in other notes to the consolidated financial statements. 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. Actual results could differ from those estimates. Revenue Recognition Sales of equipment and service parts are recognized when the company transfers control of the good to the independent customer, which generally occurs upon shipment. In most situations, the independent customer is a dealer, which subsequently sells the equipment and service parts purchased from the company to a retail customer, who can finance the equipment with the financial services segment or another source of financing. In some situations, the company sells directly to a retail customer. The term “customer” includes both dealers and retail customers to whom the company makes direct sales. Prior to 2022, certain goods were shipped to dealers in Canada on a consignment basis under which the risks and rewards of ownership were not transferred to the dealer at the time the goods are shipped. Accordingly, sales for consigned goods were not recorded until a retail customer purchased the goods or the goods were otherwise removed from the dealer’s inventory. The dealer contract in Canada was changed such that all goods delivered after November 1, 2021 are delivered on terms, resulting in transfer of control and revenue recognition upon delivery of all goods. For certain goods delivered to Canadian dealers prior to November 1, 2021, the dealer consignment terms already in place remain in effect. As of October 30, 2022 and October 31, 2021, the remaining consigned inventory was $7 million and $150 million, respectively. Consignment terms are not prevalent in any other market. In limited instances, equipment is transferred to a customer or a financial institution with an obligation to repurchase the equipment for a specified amount, which is exercisable at the customer’s option. When the equipment is expected to be repurchased, those arrangements are accounted for as leases. No sale is recorded at the time of the equipment transfer, and the difference between sale price and the specified repurchase amount is recognized as revenue on a straight-line basis until the customer’s option expires. When this equipment is not expected to be repurchased, a sale is recorded with a return obligation. Under the terms of sales agreements with dealers, interest-free periods are determined based on the type of equipment sold and the time of year of the sale. These periods range from one Generally, no right of return exists on sales of equipment. Service parts and certain attachments returns are estimable and accrued at the time a sale is recognized. The estimated returns are recorded in “Other assets” for the inventory value of estimated returns, adjusted for restocking fees. The estimated dealer refund liability, adjusted for restocking fees, is recorded in “Accounts payable and accrued expenses.” The estimated returns are based on historical return rates, current dealer inventory levels, and current economic conditions. The company remanufactures used engines and components (cores) that are sold to dealers and retail customers for maintenance and repair parts. Revenue for remanufactured components is recognized using the same criteria as other parts sales. When a remanufactured part is sold, the company collects a deposit that is repaid if the customer returns a core that meets certain specifications within a defined time period. The deposit received from the customer is recognized as a liability in “Accounts payable and accrued expenses” and the used component that is expected to be returned is recognized in “Other assets” in the consolidated balance sheets. When a customer returns a core, the deposit is repaid, the liability reversed, and the returned core is recorded in inventory to be remanufactured and sold to another customer. If a core is not returned within the required time, the deposit is recognized as revenue in “Net sales,” and the estimated core return is recorded as an expense in “Cost of sales” in the statements of consolidated income. Certain equipment is sold with precision guidance, telematics, and other information gathering and analyzing capabilities. These technology solutions require hardware, software, and may include an obligation to provide services for a period of time. These solutions are mostly bundled with the sale of the equipment but can also be purchased or renewed separately. The revenue related to the hardware and embedded software is recognized at the time of the equipment sale and recorded in “Net sales” in the statements of consolidated income. The revenue for the future services is deferred and recognized over the service period. The deferred revenue is recorded as a contract liability in “Accounts payable and accrued expenses” in the consolidated balance sheets and is recognized in “Other income” with the associated expenses recognized in “Other operating expenses” in the statements of consolidated income. Financing revenue is recorded over the lives of the related receivables using the interest method. Deferred costs on the origination of financing receivables are recognized as a reduction in “Finance and interest income” over the expected lives of the receivables using the interest method. Income and deferred costs on the origination of operating leases are recognized on a straight-line basis over the scheduled lease terms in “Finance and interest income.” Sales Incentives At the time of the sale to a dealer, the company records an estimated cost of sales incentive programs as a reduction to the sales price. The estimated cost is based on historical data, announced and expected incentive programs, field inventory levels, and forecasted sales volumes. The final cost of these programs is determined at the end of the measurement period for volume-based incentives or when the dealer sells the equipment to a retail customer. Actual cost differences from the original cost estimate are recognized in “Net sales.” Product Warranties For most equipment and service parts sales, the company provides a standard warranty to provide assurance that the equipment will function as intended for a specified period. At the time a sale is recognized, the estimated future warranty costs are recorded. The company generally determines its total warranty liability by applying historical warranty 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 with consideration of current quality developments. The company also offers extended warranty arrangements for purchase at the customer’s option. The premiums for extended warranties are recognized in “Other income” in the statement of consolidated income primarily in proportion to the costs expected to be incurred over the contract period. The unamortized extended warranty premiums (deferred revenue) are recorded in “Accounts payable and accrued expenses” in the consolidated balance sheet (see Note 18). Sales and Transaction Taxes The company collects and remits taxes assessed by different governmental authorities that are both imposed on and concurrent with revenue producing transactions between the company and its customers. These taxes include sales, use, value-added, and some excise taxes. The company elected to exclude these taxes from the determination of the sales price (excluded from revenues). Contract Costs Incremental costs of obtaining an equipment revenue contract are recognized as an expense when incurred since the amortization period would be one year or less. Advertising Costs Advertising costs are charged to expense as incurred. This expense was $227 million in 2022, $212 million in 2021, and $196 million in 2020. Depreciation and Amortization Property and equipment, capitalized software, and other intangible assets are stated at cost less accumulated depreciation or amortization. These assets are depreciated over their estimated useful lives using the straight-line method. Equipment on operating leases is depreciated over the terms of the leases using the straight-line method. Property and equipment expenditures for new and revised products, increased capacity, and the replacement or major renewal of significant items are capitalized. Expenditures for maintenance, repairs, and minor renewals are charged to expense as incurred. Securitization of Receivables Certain financing receivables are periodically transferred to special purpose entities (SPEs) in securitization transactions (see Note 12). These securitizations qualify as collateral for secured borrowings and no gains or losses are recognized at the time of securitization. The receivables remain on the balance sheet and are classified as “Financing receivables securitized - net.” The company recognizes finance income over the lives of these receivables using the interest method. Receivables and Allowances All financing and trade receivables are reported on the balance sheet at outstanding principal and accrued interest, adjusted for any write-offs, the allowance for credit losses, and any unamortized deferred fees or costs on originated financing receivables. The allowance is a reduction to the receivable balances and the provision is recorded in “Selling, administrative and general expenses.” The allowance represents an estimate of the credit losses expected over the life of the receivable portfolio. The company measures expected credit losses on a collective basis when similar risk characteristics exist. Risk characteristics considered by the company include finance product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. The company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex retail customer receivable pools, while weighted average remaining maturity models are used for smaller and less complex retail customer receivable pools. Expected credit losses on wholesale receivables are based on historical loss rates, with consideration of current economic conditions and dealer financial risk. The modeled expected credit losses are adjusted based on reasonable and supportable forecasts, which may include economic indicators such as commodity prices, industry equipment sales, unemployment rates, and housing starts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary. Receivables are written-off to the allowance when the account is considered uncollectible (see Note 11). Long-Lived Asset, Goodwill, and Other Intangible Asset Impairment The company evaluates the carrying value of long-lived assets (including equipment on operating leases, property and equipment, goodwill, and other intangible assets) when events or circumstances warrant such a review. Goodwill and unamortized intangible assets are tested for impairment annually at the end of the third quarter of each fiscal year, and more often if events or circumstances indicate a reduction in the fair value below the carrying value. Goodwill is allocated and reviewed for impairment by reporting unit. Goodwill is allocated to the reporting unit in which the business that created the goodwill resides. To test for goodwill impairment, the carrying value of each reporting unit is compared with its fair value. If the carrying value of the goodwill is considered impaired, the impairment is measured as the excess of the reporting unit’s carrying value over the fair value, with a limit of the goodwill allocated to that reporting unit. If the carrying value of the long-lived asset is considered impaired, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the asset (see Notes 4 and 25). 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 and foreign currency exposure at certain equipment operations units for sales incentive programs. All derivatives are recorded at fair value on the consolidated balance sheets. Cash collateral received or paid is not offset against the derivative fair values on the balance sheet. The cash flows from the derivative contracts are recorded in operating activities in the statements of consolidated cash flows. Each derivative is designated as a cash flow hedge, fair value hedge, or remains undesignated. Changes in the fair value of derivatives that are designated and effective as cash flow hedges are recorded in other comprehensive income (OCI) and reclassified to the income statement when the effects of the item being hedged are recognized in the income statement. Changes in the fair value of derivatives that are designated and effective as fair value hedges are recognized currently in net income. These changes are offset in net income by fair value changes related to the risk being hedged on the hedged item. Changes in the fair value of undesignated hedges are recognized currently in the income statement. 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 (see Note 26). Foreign Currency Translation The functional currencies for most of the company’s foreign operations are their respective local currencies. The assets and liabilities of these operations are translated into U.S. dollars at the end of the period exchange rates. The revenues and expenses are translated at weighted-average rates for the period. The gains or losses from these translations are recorded in OCI. Gains or losses from transactions denominated in a currency other than the functional currency of the subsidiary involved and foreign exchange components of derivative contracts are included in net income, with trade flow activity recorded in Cost of sales, sales incentive activity recorded in Net sales, and all other activity recorded in Other operating expenses. The pretax net gain (loss) for foreign exchange in 2022, 2021, and 2020 was ($175) million, ($134) million, and $18 million, respectively. New Accounting Standards The company closely monitors all Accounting Standard Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) and other authoritative guidance. The company adopted the following standards in 2022, none of which had a material effect on the company’s consolidated financial statements: Accounting Standards Updates No. 2019-12 — Simplifying the Accounting for Income Taxes, which amends ASC 740, Income Taxes No. 2020-08 — Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ASUs to be adopted in future periods are being evaluated and at this point are not expected to have a material impact on the company’s financial statements. The FASB issued ASU No. 2022-04, Liabilities – Supplier Finance Programs, which enhances the transparency about the use of supplier finance programs. Deere has not entered into any material supplier finance programs in connection with buying goods or services.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	12 Months Ended
ACQUISITIONS AND DISPOSITIONS	Oct. 30, 2022
ACQUISITIONS AND DISPOSITIONS
ACQUISITIONS AND DISPOSITIONS	3. ACQUISITIONS AND DISPOSITIONS Acquisitions Kreisel In February 2022, the company acquired majority ownership in Kreisel Electric Inc. (Kreisel), a pioneer in the development of immersion-cooled battery technology. The Austrian company manufactures high-density, high-durability electric battery modules and packs for high-performance and off-highway applications and has created a battery-buffered, high-powered charging infrastructure platform. The transaction includes a call option to purchase the remaining ownership interest in Kreisel in 2027. The minority interest holders also have a put option that would require the company to purchase the holder’s ownership interest in 2027. The put and call options cannot be separated from the noncontrolling interest. Due to the redemption features, the minority interest is classified as redeemable noncontrolling interest in the company’s consolidated balance sheets. The total cash purchase price was $276 million, consisting of $253 million for the acquired equity interests, $21 million to reduce the option price, and customary working capital adjustments, net of cash acquired. The preliminary fair values assigned to the assets and liabilities of the acquired entity in millions of dollars, which is based on information as of the acquisition date and available at October 30, 2022 follows: February 2022 Trade accounts and notes receivable $ 2 Other receivables 11 Inventories 11 Property and equipment 11 Goodwill 218 Other intangible assets 178 Other assets 6 Total assets $ 437 Accounts payable and accrued expenses $ 26 Deferred income taxes 39 Redeemable noncontrolling interest $ 96 The identifiable intangible assets were related to technology, trade name, and customer relationships with a weighted average amortization period of 12 years. The goodwill is not deductible for income tax purposes. Kreisel will be allocated amongst the company’s production and precision agriculture, small agriculture and turf, and construction and forestry segments. Excavator Factories In March 2022, the company acquired full ownership of three former Deere-Hitachi joint venture factories and began new license and supply agreements with Hitachi Construction Machinery Co., Ltd. (Hitachi). The two companies also ended their joint venture manufacturing and marketing agreements. The former joint venture factories continue to manufacture Deere-branded construction excavators and forestry equipment. Through a new supply agreement with Hitachi, Deere continues to offer a full portfolio of excavators. Deere’s marketing arrangement for Hitachi-branded construction excavators and mining equipment in the Americas ended with Hitachi assuming distribution and support of these products. John Deere dealers may continue to support their existing field population of Hitachi-branded excavators. With the completion of this acquisition, the company now has complete control over its excavator design, product, and feature updates, making it possible to more rapidly respond to customer requirements and integrate excavators with other construction products in the John Deere product portfolio. The company can leverage technology developed for other product lines and production systems across the enterprise and extend those advanced solutions to Deere-designed excavators, strengthening the entire product portfolio. The total invested capital is as follows in millions of dollars: March 2022 Cash consideration for factories $ 205 Cash consideration for license agreement 70 Deferred consideration 271 Total purchase price consideration 546 Less: Cash obtained (187) Less: Settlement of intercompany balances (113) Net purchase price consideration 246 Fair value of previously held equity investment 444 Total invested capital $ 690 The total purchase price consideration includes deferred consideration that will be paid as the company purchases Deere-branded excavators, components, and service parts from Hitachi under the new supply agreement with a duration that ranges from 5 to 30 years . The deferred consideration represents the price increases under the new supply arrangement. Excluding inflation adjustments, the price increases for products to be acquired by the company from Hitachi are as much as 27 percent higher than the prior supply arrangement. At October 30, 2022, the net present value of the deferred consideration was approximately $236 million, subject to changes in market conditions, developments in the company’s product offerings, and sourcing changes. The company financed the acquisition and associated transaction expenses from cash on hand. The fair value of the previously held equity investment created a non-cash gain of $326 million (pretax and after-tax ), which was recorded in Other income and included in the construction and forestry segment’s operating profit. Prior to the acquisition, the company purchased Deere and Hitachi-branded excavators, components, and parts from the Deere-Hitachi joint venture factories for sale to John Deere dealers. These purchases were included in Cost of sales, while the sales to John Deere dealers were included in Net sales. Cost of sales also included profit-sharing payments to Hitachi in accordance with the previous marketing agreements. Following the acquisition, Net sales only includes the sale of Deere-branded excavators to John Deere dealers, while Cost of sales reflects market pricing to purchase and manufacture excavators, as well as the related components and service parts. The preliminary fair values assigned to the assets and liabilities of the acquired factories in millions of dollars, which are based on information as of the acquisition date and available at October 30, 2022, follow: March 2022 Other receivables $ 29 Inventories 286 Property and equipment 180 Goodwill 529 Other intangible assets 70 Deferred income taxes 56 Other assets 3 Total assets $ 1,153 Accounts payable and accrued expenses $ 300 Long-term borrowings 163 Total liabilities $ 463 The identifiable intangible assets were related to technology with a 10-year amortization period. The goodwill is not deductible for income tax purposes. The excavator factories will be reported in the company’s construction and forestry segment. Other Acquisitions In 2022, the company acquired AgriSync Inc. (AgriSync), a technology service provider; an 80 percent stake in both SureFire Ag Systems, Inc. and SureFire Electronics, LLC (renamed after acquisition and collectively referred to as SurePoint), which design and manufacture liquid fertilizer application and spray tendering systems; a 40 percent equity method investment in GUSS Automation LLC (GUSS Automation), a pioneer in semi-autonomous orchard and vineyard sprayers; LGT, LLC (Light), which specializes in depth sensing and camera-based perception for autonomous vehicles; and an equity method investment in InnerPlant, Inc. (InnerPlant), an early-stage biotech company. The combined cost of these acquisitions was $134 million, net of cash acquired of $3 million. The preliminary asset and liability fair values at the respective acquisition dates follow in millions of dollars: October 2022 Trade accounts and notes receivable $ 8 Inventories 8 Property and equipment 4 Goodwill 53 Other intangible assets 21 Other assets 60 Total assets $ 154 Accounts payable and accrued expenses $ 6 Deferred income taxes 5 Total liabilities $ 11 Redeemable noncontrolling interest $ 9 The identifiable intangible assets were related to trade name, technology, and customer relationships with a weighted average amortization period of 7 years . AgriSync was allocated amongst the company’s production and precision agriculture, small agriculture and turf, and construction and forestry segments, while SurePoint, Light, and InnerPlant were allocated to the production and precision agriculture segment. GUSS Automation was assigned to the small agriculture and turf segment. Bear Flag In August 2021, the company acquired Bear Flag Robotics, Inc. (Bear Flag) to further accelerate Deere’s development and delivery of advanced technology. Bear Flag’s technology is complementary to other Deere technology efforts and enables autonomous tractor operations. The total cash purchase price before final adjustments, net of cash acquired of $4 million, was $225 million, with an additional $25 million to be recognized as compensation expense over the four-year post-acquisition service period. In addition to the cash purchase price, $19 million of liabilities were assumed. The asset and liability fair values at the acquisition date in millions of dollars follow: August 2021 Property and equipment $ 1 Goodwill 189 Other intangible assets 54 Total assets $ 244 Accounts payable and accrued expenses $ 1 Deferred income taxes 18 Total liabilities $ 19 The identified intangible was related to technology with a seven-year amortization period. The goodwill will not be deductible for tax purposes. Unimil In September 2020, the company acquired Unimil, a leading Brazilian company in the after-sales service parts business for sugarcane harvesters, which is based in Piracicaba, Brazil. The total cash purchase price, net of cash acquired of $5 million, was $66 million, with $6 million funded to an escrow to secure certain indemnity obligations. In addition to the cash purchase price, $14 million of liabilities were assumed. The asset and liability fair values at the acquisition date in millions of dollars follow: September 2020 Trade accounts and notes receivable $ 5 Other receivables 2 Inventories 10 Property and equipment 22 Goodwill 28 Other intangible assets 13 Total assets $ 80 Accounts payable and accrued expenses $ 5 Deferred income taxes 9 Total liabilities $ 14 The identified intangibles were related to customer relationships, trade name, and a non-compete agreement. The weighted-average amortization period is approximately nine years . The goodwill is not deductible for tax purposes. For the acquisitions, the goodwill was the result of future cash flows and related fair value exceeding the fair value of the identified assets and liabilities. The results of these operations have been included in the company’s consolidated financial statements, and the pro forma results of operations as if these acquisitions had occurred at the beginning of the current or comparative fiscal year would not differ significantly from the reported results. Dispositions In September 2020, the company sold its German lawn mower business. At the time of the sale, total assets were $26 million, which were recorded in “Other assets,” and total liabilities were $5 million, which were recorded in “Accounts payable and accrued expenses.” No cash proceeds were received, resulting in a loss on sale, including transaction costs, of $24 million pretax and after-tax

SPECIAL ITEMS

SPECIAL ITEMS	12 Months Ended
SPECIAL ITEMS	Oct. 30, 2022
SPECIAL ITEMS
SPECIAL ITEMS	4. SPECIAL ITEMS UAW Collective Bargaining Agreement In November 2021, employees represented by the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) approved a new collective bargaining agreement. The agreement, which has a term of six years, covers the wages, hours, benefits, and other terms and conditions of employment for the company’s UAW-represented employees at 14 U.S. facilities. The labor agreement included a lump sum ratification bonus payment of $8,500 per eligible employee, totaling $90 million, and an immediate wage increase of 10 percent plus further wage increases over the term of the contract. The lump sum payment was expensed in the first quarter of 2022. The company remeasured the U.S. hourly pension plan as of November 30, 2021 due to the new collective bargaining agreement. See Note 7 for more information on the U.S. hourly plan remeasurement. Impact of Events in Russia / Ukraine The events in Russia / Ukraine have resulted in the company suspending shipments of machines and service parts to Russia. The company manufactures and markets equipment and provides financial services in Russia. As of October 30, 2022, the company’s net exposure in Russia / Ukraine was approximately $266 million, including ruble exposure of $31 million (ruble-denominated financial assets, net of cross-currency interest rate contracts). Net sales from the company’s Russian operations represented 2 percent of consolidated annual Net sales from 2017 to 2021. The Ukraine operations were not material to the consolidated financial statements. The suspension of shipments to Russia reduced the forecasted revenue for the region, which made it probable future cash flows will not cover the carrying value of certain assets. As a result, an impairment was recorded for most long-lived assets in Russia, and the company’s U.S. senior management decided to initiate a voluntary employee-separation program. The company also recorded a reserve on inventory, and increased its allowance for credit losses, reflecting economic uncertainty in Russia. The financial services operations received an intercompany benefit from the equipment operations, which guarantees the financial services’ investments in certain international markets, including Russia. The Russian government has imposed certain restrictions on companies’ abilities to repatriate or remit cash from their Russian-based operations to locations outside of Russia. Cash in excess of what is required to fund operations in Russia has been reclassified as restricted. The company’s U.S. senior management continues to closely monitor all financial risks to company operations in the region. A summary of the reserves, impairments, and voluntary-separation costs recorded in 2022 follows in millions of dollars. See Note 25 for fair value measurement information. PPA SAT CF FS Total Inventory reserve – Cost of sales $ 14 $ 2 $ 3 $ 19 Fixed asset impairment – Cost of sales 30 11 41 Intangible asset impairment – Cost of sales 28 28 Allowance for credit losses – Financing receivables – SA&G expenses $ 153 153 Voluntary-separation program: – Cost of sales 3 3 – SA&G expenses 4 6 1 11 Intercompany agreement 82 9 62 (153) Total Russia/Ukraine events pretax expense $ 133 $ 11 $ 110 $ 1 255 Net tax impact (40) Total Russia/Ukraine events after-tax expense $ 215 Gain on Previously Held Equity Investment In March 2022, the company acquired full ownership of three former Deere-Hitachi joint venture factories and began new license and supply agreements with Hitachi. The fair value of the previous equity investment resulted in a non-cash gain of $326 million (pretax and after-tax 2021 Special Items In 2021, the company sold a closed factory that previously produced small agricultural equipment in China, resulting in a $27 million pretax gain. The fixed assets in an asphalt plant factory in Germany were impaired by $38 million, pretax and after-tax Summary of 2022 and 2021 Special Items The following table summarizes the operating profit impact, in millions of dollars, of the special items recorded in 2022 and 2021: PPA SAT CF FS Total 2022 Expense (benefit) Gain on remeasurement of equity investment – Other income (Note 3) $ (326) $ (326) Total Russia/Ukraine events pretax expense $ 133 $ 11 110 $ 1 255 UAW ratification bonus – Cost of sales 53 9 28 90 Total expense (benefit) 186 20 (188) 1 19 2021 Expense (benefit) Gain on sale – Other income (27) (27) Long-lived asset impairments – Cost of sales 5 3 42 50 Brazil indirect tax – Cost of sales (53) (5) (58) Total expense (benefit) (48) (24) 37 (35) Year over year change $ 234 $ 44 $ (225) $ 1 $ 54 2020 Special Items In 2020, the company closed a factory that produced small agricultural equipment in China, recognized impairments in the fixed assets in an asphalt plant factory in Germany, a construction equipment factory in Brazil, and other international locations, and recorded impairments of equipment on operating leases and matured lease inventory, as well as impairments of the investment in certain affiliate companies. A summary of the factory closure and costs related to impairments follows in millions of dollars. See Note 25 for a description of the valuation methodologies used to measure these impairments. PPA SAT CF FS Total Factory closure – Cost of sales $ 20 $ 20 Long-lived asset impairments: Cost of sales 13 $ 80 93 SA&G expenses $ 2 2 4 Other operating expenses $ 32 32 Affiliate company impairments – Equity in loss of unconsolidated affiliates 50 50 Total pretax impairments and closure costs $ 2 $ 35 $ 130 $ 32 $ 199 Employee-Separation Programs During 2020, the company implemented employee-separation programs for the company’s salaried workforce in several geographic areas, including the U.S., Europe, Asia, and Latin America. The programs’ main purpose was to improve efficiency through a leaner, more flexible organization. The programs were largely voluntary in nature with the expense recorded in the period in which the employees irrevocably accepted a separation offer. For the limited involuntary employee-separation programs, the expense was recorded when management committed to a plan, the plan was communicated to the employees, and the employees were not required to provide service beyond the legal notification period. The programs provided for cash payments based on years of service, and in some countries subsidized healthcare for a limited period and outplacement services. The programs’ total pretax expenses in 2020 were as follows in millions of dollars: PPA SAT CF FS Total Cost of sales $ 51 $ 31 $ 22 $ 104 Research and development expenses 29 18 8 55 Selling, administrative and general expenses 53 43 24 $ 15 135 Total operating profit impact $ 133 $ 92 $ 54 $ 15 294 Non-operating profit impact* 41 Total pretax expense $ 335 * Relates primarily to non-cash charges of $34 million from curtailments in certain OPEB plans (see Note 7) and other corporate expenses, both of which were recorded outside of operating profit . Approximately $6 million of the curtailment charge was recorded by financial services. Redeemable Noncontrolling Interest In 2020, the minority interest holder in Hagie Manufacturing Company, LLC (Hagie) exercised its right to sell the remaining 20 percent interest to the company for $14 million. As a result of such transaction, the company became a 100 percent interest holder in Hagie. The arrangement was accounted for as an equity transaction with no gain or loss recorded in the statements of consolidated income. This operation is included in the company’s production and precision agriculture segment.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
REVENUE RECOGNITION	Oct. 30, 2022
REVENUE RECOGNITION
REVENUE RECOGNITION	5. REVENUE RECOGNITION The company’s net sales and revenues by primary geographic market, major product line, and timing of revenue recognition in millions of dollars follow: PPA SAT CF FS Total 2022 Primary geographic markets: United States $ 10,975 $ 7,741 $ 7,103 $ 2,419 $ 28,238 Canada 1,387 676 1,238 601 3,902 Western Europe 2,188 2,478 1,576 102 6,344 Central Europe and CIS 1,207 488 545 49 2,289 Latin America 4,991 578 1,467 303 7,339 Asia, Africa, Australia, New Zealand, and Middle East 1,570 1,608 1,136 151 4,465 Total $ 22,318 $ 13,569 $ 13,065 $ 3,625 $ 52,577 Major product lines: Production agriculture $ 21,685 $ 21,685 Small agriculture $ 10,027 10,027 Turf 3,027 3,027 Construction $ 5,864 5,864 Compact construction 1,667 1,667 Roadbuilding 3,441 3,441 Forestry 1,308 1,308 Financial products 60 52 32 $ 3,625 3,769 Other 573 463 753 1,789 Total $ 22,318 $ 13,569 $ 13,065 $ 3,625 $ 52,577 Revenue recognized: At a point in time $ 22,178 $ 13,493 $ 12,980 $ 105 $ 48,756 Over time 140 76 85 3,520 3,821 Total $ 22,318 $ 13,569 $ 13,065 $ 3,625 $ 52,577 PPA SAT CF FS Total 2021 Primary geographic markets: United States $ 8,223 $ 6,505 $ 5,697 $ 2,389 $ 22,814 Canada 853 498 1,047 617 3,015 Western Europe 2,086 2,433 1,807 103 6,429 Central Europe and CIS 1,322 475 828 39 2,664 Latin America 2,916 456 903 247 4,522 Asia, Africa, Australia, New Zealand, and Middle East 1,417 1,679 1,331 153 4,580 Total $ 16,817 $ 12,046 $ 11,613 $ 3,548 $ 44,024 Major product lines: Production agriculture $ 16,248 $ 16,248 Small agriculture $ 8,619 8,619 Turf 2,853 2,853 Construction $ 4,684 4,684 Compact construction 1,489 1,489 Roadbuilding 3,749 3,749 Forestry 1,280 1,280 Financial products 55 46 20 $ 3,548 3,669 Other 514 528 391 1,433 Total $ 16,817 $ 12,046 $ 11,613 $ 3,548 $ 44,024 Revenue recognized: At a point in time $ 16,659 $ 11,969 $ 11,522 $ 105 $ 40,255 Over time 158 77 91 3,443 3,769 Total $ 16,817 $ 12,046 $ 11,613 $ 3,548 $ 44,024 PPA SAT CF FS Total 2020 Primary geographic markets: United States $ 6,889 $ 5,059 $ 4,548 $ 2,500 $ 18,996 Canada 640 350 802 598 2,390 Western Europe 1,827 1,937 1,479 90 5,333 Central Europe and CIS 898 493 646 35 2,072 Latin America 1,902 334 553 234 3,023 Asia, Africa, Australia, New Zealand, and Middle East 1,119 1,322 1,153 132 3,726 Total $ 13,275 $ 9,495 $ 9,181 $ 3,589 $ 35,540 Major product lines: Production agriculture $ 12,662 $ 12,662 Small agriculture $ 6,827 6,827 Turf 2,390 2,390 Construction $ 3,521 3,521 Compact construction 1,269 1,269 Roadbuilding 2,924 2,924 Forestry 1,100 1,100 Financial products 69 37 25 $ 3,589 3,720 Other 544 241 342 1,127 Total $ 13,275 $ 9,495 $ 9,181 $ 3,589 $ 35,540 Revenue recognized: At a point in time $ 13,106 $ 9,439 $ 9,071 $ 106 $ 31,722 Over time 169 56 110 3,483 3,818 Total $ 13,275 $ 9,495 $ 9,181 $ 3,589 $ 35,540 Following is a description of the company’s major product lines: Production 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 relate to extended warranty premiums, 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 sheets. The deferred revenue received, but not recognized in revenue, including extended warranty premiums also shown in Note 20, was $1,423 million and $1,344 million at October 30, 2022 and October 31, 2021, respectively. The contract liability is reduced as the revenue is recognized. Revenue recognized from deferred revenue that was recorded as a contract liability at the beginning of the fiscal year was $609 million in 2022, $485 million in 2021, and $425 million in 2020. The total amount of unsatisfied performance obligations for contracts with an original duration greater than one year and the estimated revenue to be recognized by fiscal year at October 30, 2022 follows in millions of dollars: Year Net Sales and Revenues 2023 $ 336 2024 319 2025 230 2026 131 2027 84 Later years 124 Total $ 1,224 As permitted, the company elected only to disclose remaining performance obligations with an original contract duration greater than one year. The contracts with an expected duration of one year or less are for sales to dealers and retail customers for equipment, service parts, repair services, and certain telematics services.

CASH FLOW INFORMATION

CASH FLOW INFORMATION	12 Months Ended
CASH FLOW INFORMATION	Oct. 30, 2022
CASH FLOW INFORMATION
CASH FLOW INFORMATION	6. CASH FLOW INFORMATION The company considers investments with purchased maturities of three months or less to be cash equivalents. Substantially all of the company’s short-term borrowings, excluding the current maturities of finance lease obligations and long-term borrowings, mature or may require payment within three months or less. All cash flows from the changes in trade accounts and notes receivable (see Note 11) are classified as operating activities in the statements 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 (see Note 11) 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. Restricted cash, recorded in “Other assets” in the consolidated balance sheets, relates to securitization of financing receivables (see Note 12) and certain cash held in Russia. Supplemental cash flow information follows in millions of dollars: 2022 2021 2020 Cash paid for interest $ 1,101 $ 1,041 $ 1,279 Cash paid for income taxes 1,940 2,075 1,069 Inventory transferred to equipment on operating leases 167 662 614 Accounts payable related to purchases of property and equipment 165 121 98

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	12 Months Ended
PENSION AND OTHER POSTRETIREMENT BENEFITS	Oct. 30, 2022
PENSION AND OTHER POSTRETIREMENT BENEFITS
PENSION AND OTHER POSTRETIREMENT BENEFITS	7. PENSION AND OTHER POSTRETIREMENT BENEFITS The company has several funded and unfunded defined benefit pension plans and other postretirement benefit (OPEB) plans, primarily health care and life insurance plans, covering its U.S. employees and employees in certain foreign countries. The company uses an October 31 measurement date. The spot yield curve approach is used to estimate the service and interest cost components of the net periodic pension and OPEB costs by applying the specific spot rates along the yield curve used to determine the benefit plan obligations to relevant projected cash outflows. The components of net periodic pension and OPEB cost excluding the service component are included in the line item “Other operating expenses” in the statements of consolidated income. The company’s U.S. salaried pension plan will be closed to new entrants effective January 1, 2023. Certain participants will have the opportunity to make a one-time election in 2023 to freeze their defined benefit pension plan benefit for an enhanced defined contribution benefit. The components of net periodic pension cost and the assumptions related to the cost consisted of the following in millions of dollars and in percentages: 2022 2021 2020 Pensions Service cost $ 349 $ 332 $ 321 Interest cost 330 276 347 Expected return on plan assets (726) (799) (819) Amortization of actuarial loss 132 259 256 Amortization of prior service cost 34 12 13 Settlements/curtailments 45 21 25 Net cost $ 164 $ 101 $ 143 Weighted-average assumptions Discount rates - service cost 3.0% 2.5% 2.9% Discount rates - interest cost 2.6% 2.1% 2.7% Rate of compensation increase 3.7% 3.7% 3.8% Expected long-term rates of return 5.1% 6.0% 6.4% Interest crediting rate - U.S. cash balance plans 2.1% 1.7% 2.1% In November 2021, employees represented by the UAW approved a new collective bargaining agreement. The company remeasured the U.S. hourly pension plan, which increased the 2022 pension expense by nearly $80 million with $35 million negatively impacting operating profit. A curtailment loss of $34 million was recognized during 2022 to freeze their defined benefit pension plan benefit for an enhanced defined contribution benefit. The components of net periodic OPEB cost and the assumptions related to the cost consisted of the following in millions of dollars and in percentages: 2022 2021 2020 OPEB Service cost $ 45 $ 48 $ 49 Interest cost 99 102 140 Expected return on plan assets (110) (77) (50) Amortization of actuarial (gain) loss (18) 27 29 Amortization of prior service credit (4) (4) (4) Curtailments 34 Net cost $ 12 $ 96 $ 198 Weighted-average assumptions Discount rates - service cost 3.6% 3.4% 3.7% Discount rates - interest cost 2.3% 2.1% 2.7% Expected long-term rates of return 4.4% 5.4% 5.7% The 2020 OPEB curtailments were a result of the employee- separation programs (see Note 4). The benefit plan obligations, funded status, and the assumptions related to the obligations at October 30, 2022 and October 31, 2021 in millions of dollars follow: Pensions OPEB 2022 2021 2022 2021 Change in benefit obligations Beginning of year balance $ (14,525) $ (15,021) $ (4,930) $ (5,410) Service cost (349) (332) (45) (48) Interest cost (330) (276) (99) (102) Actuarial gain 4,122 373 1,492 381 Prior service cost (505) (12) Benefits paid 757 755 282 290 Health care subsidies (33) (29) Settlements/curtailments 1 Foreign exchange and other 301 (25) 4 (12) End of year balance (10,529) (14,525) (3,341) (4,930) Change in plan assets (fair value) Beginning of year balance 17,190 14,574 1,755 1,518 Actual return on plan assets (3,070) 3,249 (495) 367 Employer contribution 85 101 1,155 157 Benefits paid (757) (755) (282) (290) Foreign exchange and other (229) 21 3 3 End of year balance 13,219 17,190 2,136 1,755 Funded status $ 2,690 $ 2,665 $ (1,205) $ (3,175) Weighted-average assumptions Discount rates 5.4% 2.7% 5.6% 2.8% Rate of compensation increase 3.8% 3.7% Interest crediting rate - U.S. cash balance plans 4.4% 1.8% The actuarial gains for pension and OPEB for 2022 were due to an increase in discount rates. The actuarial gain for pension for 2021 was due to an increase in discount rates. The actuarial gain for OPEB for 2021 was due to a decrease in health care trend rates, favorable mortality assumptions, and an increase in discount rates. The pension prior service cost for 2022 was due to the new UAW collective bargaining agreement. The discount rate assumptions used to determine the pension and OPEB obligations for all periods presented were based on hypothetical AA yield curves represented by a series of annualized individual discount rates. These discount rates represent the rates at which the company’s benefit obligations could effectively be settled at the October 31 measurement dates. The mortality assumptions for the 2022 and 2021 U.S. benefit plan obligations used the most recent tables and scales issued by the Society of Actuaries at that time. The 2022 and 2021 mortality assumptions included an adjustment to the scale related to COVID for some plans. The weighted-average annual rates of increase in the per capita cost of covered health care benefits (the health care cost trend rates) for medical and prescription drug claims for pre- and post-65 age groups used to determine the October 30, 2022 and October 31, 2021 accumulated postretirement benefit obligations were as follows: 2022 2021 Initial year 0.0% (2022 to 2023) 2.1% (2021 to 2022) Second year 12.6% (2023 to 2024) 8.4% (2022 to 2023) Ultimate 4.7% ( 2032 to 2033 ) 4.7% ( 2028 to 2029 ) A decrease in Medicare Advantage premiums impacted the weighted-average annual rates of increase for the initial years in 2022 and 2021 . The amounts recognized at October 30, 2022 and October 31, 2021 in millions of dollars consisted of the following: Pensions OPEB 2022 2021 2022 2021 Amounts recognized in balance sheet Noncurrent asset $ 3,223 $ 3,601 $ 507 Current liability (42) (51) (39) $ (36) Noncurrent liability (491) (885) (1,673) (3,139) Total $ 2,690 $ 2,665 $ (1,205) $ (3,175) Amounts recognized in accumulated other comprehensive income – pretax Net actuarial (gain) loss $ 926 $ 1,376 $ (820) $ 49 Prior service cost (credit) 446 9 (4) (20) Total $ 1,372 $ 1,385 $ (824) $ 29 Information related to pension plans benefit obligations at October 30, 2022 and October 31, 2021 in millions of dollars follows: 2022 2021 Total accumulated benefit obligations for all plans $ 10,068 $ 13,787 Plans with accumulated benefit obligation exceeding fair value of plan assets: Accumulated benefit obligations 1,116 2,012 Fair value of plan assets 672 1,207 Plans with projected benefit obligation exceeding fair value of plan assets: Projected benefit obligations 1,225 2,163 Fair value of plan assets 692 1,227 Actuarial gains and losses are recorded in accumulated other comprehensive income (loss). To the extent unamortized gains and losses exceed 10 percent of the higher of the market-related value of assets or the benefit obligation, the excess is amortized as a component of net periodic cost over the remaining service period of the active participants. For plans in which all or almost all of the plan’s participants are inactive, the amortization period is the remaining life expectancy of the inactive participants. Contributions The company makes any required contributions to the plan assets under applicable regulations and voluntary contributions after evaluating the company’s liquidity position and ability to make tax-deductible contributions. Total company contributions to the plans were $1,240 million in 2022 and $258 million in 2021, which included both required and voluntary contributions and direct benefit payments. 2022 OPEB contributions included a voluntary contribution of $1,000 million to a U.S. plan. The company expects to contribute approximately $70 million to its pension plans and approximately $130 million to its OPEB plans in 2023. The contributions are direct benefit payments from company funds. The company has no significant required contributions to U.S. pension plan assets in 2023 under applicable funding regulations. Expected Future Benefit Payments The expected future benefit payments at October 30, 2022 were as follows in millions of dollars: Pensions OPEB* 2023 $ 739 $ 246 2024 730 248 2025 729 250 2026 728 252 2027 721 253 2028 to 2032 3,589 1,274 * Net of prescription drug group benefit subsidy under Medicare Part D. Plan Asset Information The fair values of the pension plan assets at October 30, 2022 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 338 $ 283 $ 55 Equity: U.S. equity securities 311 290 21 International equity securities and funds 196 195 1 Fixed Income: Government and agency securities 1,296 1,053 243 Corporate debt securities 4,587 4,587 Mortgage-backed securities 213 213 Other investments 49 31 18 Derivative contracts - assets 92 54 38 Derivative contracts - liabilities (209) (106) (103) Receivables, prepaids, and payables (207) (207) Securities lending collateral 684 684 Securities lending liability (684) (684) Securities sold short (64) (58) (6) Total of Level 1 and Level 2 assets 6,602 $ 1,535 $ 5,067 Investments at net asset value: Short-term investments 633 U.S. equity funds 54 International equity funds 125 Fixed income funds 1,736 Real estate funds 592 Hedge funds 569 Private equity 1,322 Venture capital 1,553 Other investments 33 Total net assets $ 13,219 The fair values of the health care assets at October 30, 2022 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 79 $ 79 Fixed Income: Government and agency securities 629 597 $ 32 Corporate debt securities 516 516 Mortgage-backed securities 83 83 Other (4) (7) 3 Securities lending collateral 98 98 Securities lending liability (98) (98) Total of Level 1 and Level 2 assets 1,303 $ 669 $ 634 Investments at net asset value: U.S. equity funds 40 International equity funds 22 Fixed income funds 347 Real estate funds 140 Hedge funds 188 Private equity 41 Venture capital 48 Other investments 7 Total net assets $ 2,136 The fair values of the pension plan assets at October 31, 2021 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 378 $ 355 $ 23 Equity: U.S. equity securities 1,151 1,123 28 International equity securities and funds 951 931 20 Fixed Income: Government and agency securities 1,475 1,159 316 Corporate debt securities 4,841 4,841 Mortgage-backed securities 144 144 Real estate investment trusts 62 55 7 Derivative contracts - assets 116 37 79 Derivative contracts - liabilities (75) (15) (60) Receivables, payables, and other (155) (177) 22 Securities lending collateral 982 107 875 Securities lending liability (982) (107) (875) Securities sold short (139) (128) (11) Total of Level 1 and Level 2 assets 8,749 $ 3,340 $ 5,409 Investments at net asset value: Short-term investments 815 U.S. equity funds 796 International equity funds 528 Fixed income funds 1,701 Real estate funds 566 Hedge funds 751 Private equity 1,385 Venture capital 1,537 Other investments 362 Total net assets $ 17,190 The fair values of the health care assets at October 31, 2021 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 55 $ 55 Equity securities and funds 30 29 $ 1 Fixed Income: Government and agency securities 243 215 28 Corporate debt securities 307 307 Mortgage-backed securities 10 10 Securities lending collateral 64 20 44 Securities lending liability (64) (20) (44) Securities sold short (3) (3) Total of Level 1 and Level 2 assets 642 $ 296 $ 346 Investments at net asset value: Short-term investments 20 U.S. equity funds 619 International equity funds 358 Fixed income funds 18 Real estate funds 42 Hedge funds 13 Private equity 18 Venture capital 20 Other investments 5 Total net assets $ 1,755 Investments at net asset value in the preceding tables are measured at fair value using the net asset value per share practical expedient and are not classified in the fair value hierarchy. Fair value measurement levels in the preceding tables are defined in Note 25. Fair values are determined as follows: Cash and Short-Term Investments – The investments include (1) cash accounts that are valued based on the account value, which approximates fair value; (2) investments that are valued at quoted prices in the active markets in which the investment trades or using a market approach (matrix pricing model) in which all significant inputs are observable or can be derived from or corroborated by observable market data; and (3) investment funds that are valued based on a constant fund net asset value (NAV), which is based on quoted prices in the active market in which the investment fund trades, or the fund’s NAV using the NAV per share practical expedient, which is based on the fair value of the underlying securities. Equity Securities and Funds – The values are determined by quoted prices in the active market in which the equity investment trades, or the fund’s NAV, based on the fair value of the underlying securities. Fixed Income Securities and Funds and Other Funds – The securities are valued using either a market approach (matrix pricing model) in which all significant inputs are observable or can be derived from or corroborated by observable market data such as interest rates, yield curves, volatilities, credit risk, and prepayment speeds, or they are valued using the quoted prices in the active market in which the fixed income investment trades. Fixed income and other funds are valued using the fund’s NAV, based on the fair value of the underlying securities. Real Estate, Venture Capital, Private Equity, and Hedge Funds – The investments that are structured as limited partnerships are valued at estimated fair value based on their proportionate share of the limited partnership’s fair value that is determined by the respective general partner. These investments are valued using the fund’s NAV, which is based on the fair value of the underlying investments. Valuations may be lagged up to six months. The NAV is adjusted for cash flows (additional investments or contributions, and distributions) and any known substantive valuation changes through year end. Real estate investment trusts were valued at the quoted prices in the active markets in which the investment trades. Derivative Instruments – The derivatives are valued using either an income approach (discounted cash flow) using market observable inputs, including swap curves and both forward and spot exchange rates, or a market approach (quoted prices in the active market in which the derivative instrument trades). The investment objective for the pension and health care plan assets is to fulfill the projected obligations to the beneficiaries over a long period of time, while meeting the company’s fiduciary responsibilities. The asset allocation policy is the most important decision in managing the assets, and it is reviewed regularly. The asset allocation policy considers the company’s long-term asset class risk/return expectations for each plan since the obligations are long-term in nature. The current target allocations for pension assets are approximately 20 percent for equity, 66 percent for debt, 3 percent for real estate, and 11 percent for other investments. The target allocations for health care assets are approximately 15 percent for equity, 72 percent for debt, 4 percent for real estate, and 9 percent for other investments. The allocation percentages above include the effects of combining derivatives with other investments to manage asset allocations and exposures to interest rates and foreign currency exchange. The assets are well diversified and are managed by professional investment firms as well as by investment professionals who are company employees. As a result of the company’s diversified investment policy, there were no significant concentrations of risk. The expected long-term rate of return on plan assets reflects management’s expectations of long-term average rates of return on funds invested to provide for benefits included in the projected benefit obligations. A market related value of plan assets is used to calculate the expected return on assets. The market related value recognizes changes in the fair value of pension plan assets systematically over a five-year period. The market related value of the health care plan assets equals fair value. The expected return is based on the outlook for inflation and for returns in multiple asset classes, while also considering historical returns, asset allocation, and investment strategy. The company’s approach has emphasized the long-term nature of the return estimate such that the return assumption is not changed significantly unless there are fundamental changes in capital markets that affect the company’s expectations for returns over an extended period of time (i.e., 10 to 20 years ). The average annual return of the company’s U.S. pension fund was approximately 8.6 percent during the past ten years and approximately 8.9 percent during the past 20 years. Since return premiums over inflation and total returns for major asset classes vary widely even over ten-year periods, recent history is not necessarily indicative of long-term future expected returns. The company’s systematic methodology for determining the long-term rate of return for the company’s investment strategies supports its long-term expected return assumptions. The company has created certain Voluntary Employees’ Beneficiary Association trusts (VEBAs) for the funding of postretirement health care benefits. The future expected asset returns for these VEBAs are lower than the expected return on the other pension and health care plan assets due to investment in a higher proportion of liquid securities. These assets are in addition to the other postretirement health care plan assets that have been funded under Section 401(h) of the U.S. Internal Revenue Code and maintained in a separate account in the company’s pension plan trust. Defined Contribution Plans The company has defined contribution plans related to employee investment and savings plans primarily in the U.S. The company’s contributions and costs under these plans were $263 million in 2022, $207 million in 2021, and $160 million in 2020. The contribution rate varies based on the company’s performance in the prior year and employee participation in the plans.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Oct. 30, 2022
INCOME TAXES
INCOME TAXES	8. INCOME TAXES The provision for income taxes by taxing jurisdiction and by significant component consisted of the following in millions of dollars: 2022 2021 2020 Current: U.S.: Federal $ 514 $ 899 $ 400 State 136 183 53 Foreign 1,423 1,017 640 Total current 2,073 2,099 1,093 Deferred: U.S.: Federal 29 (303) (68) State 24 (45) 9 Foreign (119) (93) 48 Total deferred (66) (441) (11) Provision for income taxes $ 2,007 $ 1,658 $ 1,082 Based upon the location of the company’s operations, the consolidated income before income taxes in the U.S. in 2022, 2021, and 2020 was $4,977 million, $4,061 million, and $2,082 million, respectively, and in foreign countries was $4,150 million, $3,541 million, and $1,801 million, respectively. Certain foreign operations are branches or partnerships of Deere & Company and are subject to U.S. as well as foreign income tax regulations. The pretax income by location and the preceding analysis of the income tax provision by taxing jurisdiction are not directly related. A comparison of the statutory and effective income tax provision and reasons for related differences in millions of dollars follow: 2022 2021 2020 U.S. federal income tax provision at the U.S. statutory rate ( 21 percent) $ 1,917 $ 1,597 $ 815 State and local taxes, net of federal effect 133 119 59 Other impacts of Tax Cuts and Jobs Act of 2017 (29) (85) 39 Rate differential on foreign subsidiaries 121 148 106 Research and business tax credits (65) (48) (50) Excess tax benefits on equity compensation (55) (79) (87) Valuation allowances 179 18 139 Other - net (194) (12) 61 Provision for income taxes $ 2,007 $ 1,658 $ 1,082 At October 30, 2022, undistributed profits of subsidiaries outside the U.S. of approximately $5,043 million are considered indefinitely reinvested. Determination of the amount of a foreign withholding tax liability on these unremitted earnings is not practicable. Deferred income taxes arise because there are certain items that are treated differently for financial accounting than for income tax reporting purposes. An analysis of the deferred income tax assets and liabilities at October 30, 2022 and October 31, 2021 in millions of dollars follows: 2022 2021 Deferred Deferred Deferred Deferred Tax Tax Tax Tax Assets Liabilities Assets Liabilities OPEB - net $ 213 $ 676 Lessor lease transactions $ 310 $ 399 Tax loss and tax credit carryforwards 1,405 1,542 Accrual for sales allowances 579 466 Tax over book depreciation 174 154 Goodwill and other intangible assets 178 337 Pension - net 532 448 Allowance for credit losses 90 78 Accrual for employee benefits 304 298 Share-based compensation 41 53 Deferred compensation 44 49 Lessee lease transactions 62 57 46 43 Unearned revenue 154 172 Other items 487 254 333 341 Less valuation allowances (1,545) (1,530) Deferred income tax assets and liabilities $ 1,834 $ 1,505 $ 2,183 $ 1,722 Deere & Company files a consolidated federal income tax return in the U.S., which includes the wholly-owned financial services subsidiaries. These subsidiaries account for income taxes as if they filed separate income tax returns, with a modification for realizability of certain tax benefits. At October 30, 2022, tax loss and tax credit carryforwards of $1,405 million were available with $940 million expiring from 2023 through 2042 and $465 million with an indefinite carryforward period. A reconciliation of the total amounts of unrecognized tax benefits at October 30, 2022, October 31, 2021, and November 1, 2020 in millions of dollars follows: 2022 2021 2020 Beginning of year balance $ 811 $ 668 $ 553 Increases to tax positions taken during the current year 98 81 63 Increases to tax positions taken during prior years 29 100 95 Decreases to tax positions taken during prior years (18) (23) (30) Decreases due to lapse of statute of limitations (7) (12) (9) Other 2 (3) (1) Foreign exchange (24) (3) End of year balance $ 891 $ 811 $ 668 The amount of unrecognized tax benefits at October 30, 2022 and October 31, 2021 that would impact the effective tax rate if the tax benefits were recognized was $303 million and $227 million, respectively. 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 twelve months would not be significant. The company files its tax returns according to the tax laws of the jurisdictions in which it operates, which includes the U.S. federal jurisdiction and various state and foreign jurisdictions. The U.S. Internal Revenue Service (IRS) has completed the examination of the company’s federal income tax returns for periods prior to 2015. The federal income tax returns for years 2015 to 2020 are currently under examination. Various state and foreign income tax returns also remain subject to examination by taxing authorities. The company’s policy is to recognize interest related to income taxes in interest expense and interest income and recognize penalties in selling, administrative and general expenses. During 2022 and 2021, the total amount of expense from interest and penalties was $23 million and $7 million. During 2020, interest and penalties previously recorded were reversed when tax positions were effectively settled resulting in a $3 million net benefit. The interest income in 2022, 2021, and 2020 was $12 million, $8 million, and $11 million, respectively. At October 30, 2022 and October 31, 2021, the liability for accrued interest and penalties totaled $80 million and $75 million, respectively, and the receivable for interest was $19 million and $11 million, respectively.

OTHER INCOME AND OTHER OPERATIN

OTHER INCOME AND OTHER OPERATING EXPENSES	12 Months Ended
OTHER INCOME AND OTHER OPERATING EXPENSES	Oct. 30, 2022
OTHER INCOME AND OTHER OPERATING EXPENSES
OTHER INCOME AND OTHER OPERATING EXPENSES	9. OTHER INCOME AND OTHER OPERATING EXPENSES The major components of other income and other operating expenses consisted of the following in millions of dollars: 2022 2021 2020 Other income Revenues from services $ 283 $ 322 $ 314 Insurance premiums and fees earned* 289 227 223 Trademark licensing income 89 87 73 Operating lease disposition gains 72 65 Gain on previously held equity investment 326 Investment income 14 41 26 Other 222 249 182 Total $ 1,295 $ 991 $ 818 Other operating expenses Depreciation of equipment on operating leases $ 827 $ 983 $ 1,083 Insurance claims and expenses* 267 235 231 Cost of services 214 202 188 Operating lease disposition losses and impairments 52 Pension and OPEB benefit, excluding service cost component (218) (183) (31) Foreign exchange loss 132 59 4 Other 53 47 85 Total $ 1,275 $ 1,343 $ 1,612 * Primarily related to extended warranties (s ee Note 20).

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
MARKETABLE SECURITIES	Oct. 30, 2022
MARKETABLE SECURITIES
MARKETABLE SECURITIES	10. MARKETABLE SECURITIES All marketable securities are classified as available-for-sale. Realized gains or losses from the sales of marketable securities are based on the specific identification method. The amortized cost and fair value of marketable securities at October 30, 2022 and October 31, 2021 in millions of dollars follow: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value 2022 U.S. equity fund $ 70 International equity securities 3 Total equity securities 73 U.S. government debt securities $ 220 $ 37 183 Municipal debt securities 74 11 63 Corporate debt securities 236 36 200 International debt securities 64 4 60 Mortgage-backed securities* 186 31 155 Total debt securities $ 780 $ 119 661 Marketable securities $ 734 2021 U.S. equity fund $ 75 International equity securities 2 Total equity securities 77 U.S. government debt securities $ 196 $ 5 $ 3 198 Municipal debt securities 69 4 73 Corporate debt securities 215 11 2 224 International debt securities 5 3 2 Mortgage-backed securities* 152 3 1 154 Total debt securities $ 637 $ 23 $ 9 651 Marketable securities $ 728 * Primarily issued by U.S. government sponsored enterprises. During 2022, 2021, and 2020, purchases of marketable securities were $250 million, $194 million, and $130 million, respectively, while proceeds from the maturities and sales of marketable securities were $79 million, $109 million, and $93 million, respectively. Equity Securities Proceeds of equity securities sold during 2022, 2021, and 2020 were not material. Unrealized gain (loss) on equity securities during 2022 and 2021 in millions of dollars follow: 2022 2021 Net gain (loss) recognized on equity securities $ (11) $ 24 Less: Net gain on equity securities sold 2 Unrealized gain (loss) on equity securities $ (11) $ 22 Debt Securities The contractual maturities of debt securities at October 30, 2022 in millions of dollars follow: Amortized Fair Cost Value Due in one year or less $ 81 $ 81 Due after one through five years 105 96 Due after five through 10 years 196 166 Due after 10 years 212 163 Mortgage-backed securities 186 155 Debt securities $ 780 $ 661 Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Because of the potential for prepayment on mortgage-backed securities, they are not categorized by contractual maturity. Proceeds from the sales of debt securities, realized gains, realized losses, and unrealized losses that have been continuous for over twelve months were not significant in 2022, 2021, and 2020. Unrealized losses at October 30, 2022 and October 31, 2021 were not recognized in income due to the ability and intent to hold to maturity. There were no significant impairment write-downs in the periods reported.

RECEIVABLES

RECEIVABLES	12 Months Ended
RECEIVABLES	Oct. 30, 2022
RECEIVABLES
RECEIVABLES	11. RECEIVABLES Trade Accounts and Notes Receivable Trade accounts and notes receivable at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Trade accounts and notes receivable: Production & precision ag $ 2,397 $ 1,204 Small ag & turf 2,065 1,683 Construction & forestry 1,948 1,321 Trade accounts and notes receivable – net $ 6,410 $ 4,208 Trade accounts and notes receivable have significant concentrations of credit risk in the agriculture and turf and construction and forestry markets as shown in the previous table. On a geographic basis, 52 percent of the company’s trade accounts and notes receivable are located in the U.S. and Canada at October 30, 2022. There is not a disproportionate concentration of credit risk with any single dealer. The allowance for credit losses on trade accounts and notes receivable at October 30, 2022, October 31, 2021, and November 1, 2020, as well as the related activity, in millions of dollars follow: 2022 2021 2020 Beginning of year balance $ 41 $ 39 $ 72 ASU No. 2016-13 (2) Provision 1 10 Write-offs (5) (7) (23) Recoveries 1 Translation adjustments (1) 1 (11) End of year balance $ 36 $ 41 $ 39 The equipment operations sell a significant portion of their trade receivables to financial services and provide compensation to financial services at approximate market interest rates. Trade accounts and notes receivable arise from sales of goods to independent dealers. See Note 2 for the company’s revenue recognition policy. The company evaluates and assesses dealers on an ongoing basis as to their creditworthiness and secures the receivables by retaining a security interest in the goods associated with the trade receivables or with other financial instruments. In certain jurisdictions, the company is obligated to repurchase goods sold to a dealer upon cancellation or termination of the dealer’s contract. Financing Receivables While the company implemented a new operating model in fiscal year 2021 resulting in new operating segments, assets managed by financial services, including most financing receivables and equipment on operating leases, continue to be evaluated by market (agriculture and turf or construction and forestry). Financing receivables at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Unrestricted/Securitized Unrestricted/Securitized Retail notes: Agriculture and turf $ 23,830 $ 4,868 $ 21,736 $ 4,041 Construction and forestry 4,396 1,179 4,334 712 Total 28,226 6,047 26,070 4,753 Wholesale notes 3,285 2,577 Revolving charge accounts 4,316 3,880 Financing leases (direct and sales-type) 2,832 2,879 Total financing receivables 38,659 6,047 35,406 4,753 Less: Unearned finance income : Retail notes 1,358 95 1,131 80 Wholesale notes 12 11 Revolving charge accounts 61 55 Financing leases 285 258 Total 1,716 95 1,455 80 Allowance for credit losses 309 16 152 14 Financing receivables – net $ 36,634 $ 5,936 $ 33,799 $ 4,659 Financing receivables have significant concentrations of credit risk in the agriculture and turf and construction and forestry markets. On a geographic basis, 85 percent of the company’s financing receivables were located in the U.S. and Canada at October 30, 2022. There is no disproportionate concentration of credit risk with any single customer or dealer. The company retains as collateral security in the equipment associated with retail notes, wholesale notes, and financing leases, and requires theft and physical damage insurance on such equipment. Financing receivables at October 30, 2022 and October 31, 2021 related to the company’s sales of equipment that were included in the previous table consisted of the following in millions of dollars: 2022 2021 Retail notes: Agriculture and turf $ 1,392 $ 1,977 Construction and forestry 304 378 Total 1,696 2,355 Wholesale notes 3,285 2,577 Sales-type leases 799 1,269 Total 5,780 6,201 Less: Unearned finance income: Retail notes 133 159 Wholesale notes 12 11 Sales-type leases 67 98 Total 212 268 Financing receivables related to the company’s sales of equipment $ 5,568 $ 5,933 These retail notes arise from sales of equipment by company-owned dealers or through direct sales. Included in the table above were $10 million of securitized construction and forestry retail notes at October 31, 2021 . Financing receivable installments, including unearned finance income, at October 30, 2022 and October 31, 2021 were scheduled as follows in millions of dollars: 2022 2021 Unrestricted/Securitized Unrestricted/Securitized Due in months: 0 – 12 $ 17,032 $ 2,226 $ 15,205 $ 1,904 13 – 24 7,975 1,667 7,412 1,323 25 – 36 5,987 1,209 5,629 885 37 – 48 4,297 709 3,991 478 49 – 60 2,559 227 2,397 150 Thereafter 809 9 772 13 Total $ 38,659 $ 6,047 $ 35,406 $ 4,753 The maximum terms for retail notes are seven years for agriculture and turf equipment, and five years for construction and forestry equipment. The maximum term for financing leases is seven years . In total, wholesale notes turned four times during 2022 and three times during 2021. 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 from the customer 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 resumed when the receivable becomes contractually current and collections are reasonably assured. The company monitors the credit quality of financing receivables based on delinquency status. The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows in millions of dollars: October 30, 2022 2022 2021 2020 2019 Retail customer receivables: Agriculture and turf Current $ 13,500 $ 7,984 $ 4,091 $ 1,875 30-59 days past due 46 63 36 17 60-89 days past due 14 25 13 6 90+ days past due 1 Non-performing 27 60 44 28 Construction and forestry Current 2,964 1,974 842 292 30-59 days past due 53 52 23 9 60-89 days past due 19 16 7 3 90+ days past due 1 4 1 3 Non-performing 25 61 34 19 Total retail customer receivables $ 16,650 $ 10,239 $ 5,091 $ 2,252 October 30, 2022 2018 Prior Years Revolving Charge Accounts Total Retail customer receivables: Agriculture and turf Current $ 785 $ 200 $ 4,111 $ 32,546 30-59 days past due 7 3 19 191 60-89 days past due 2 1 5 66 90+ days past due 1 Non-performing 18 19 8 204 Construction and forestry Current 73 12 108 6,265 30-59 days past due 2 1 3 143 60-89 days past due 1 1 47 90+ days past due 1 10 Non-performing 7 3 149 Total retail customer receivables $ 895 $ 240 $ 4,255 $ 39,622 October 31, 2021 2021 2020 2019 2018 Retail customer receivables: Agriculture and turf Current $ 12,877 $ 6,676 $ 3,463 $ 1,738 30-59 days past due 43 53 29 16 60-89 days past due 16 23 12 6 90+ days past due 1 Non-performing 23 57 53 32 Construction and forestry Current 3,122 1,575 754 273 30-59 days past due 50 40 27 7 60-89 days past due 15 11 9 6 90+ days past due 1 2 3 3 Non-performing 26 56 39 17 Total retail customer receivables $ 16,173 $ 8,494 $ 4,389 $ 2,098 October 31, 2021 2017 Prior Years Revolving Charge Accounts Total Retail customer receivables: Agriculture and turf Current $ 728 $ 211 $ 3,704 $ 29,397 30-59 days past due 7 3 14 165 60-89 days past due 3 1 4 65 90+ days past due 1 Non-performing 17 23 7 212 Construction and forestry Current 57 7 92 5,880 30-59 days past due 4 1 3 132 60-89 days past due 1 1 43 90+ days past due 4 2 15 Non-performing 7 3 148 Total retail customer receivables $ 828 $ 251 $ 3,825 $ 36,058 The credit quality analysis of wholesale receivables by year of origination was as follows in millions of dollars: October 30, 2022 2022 2021 2020 2019 Wholesale receivables: Agriculture and turf Current $ 387 $ 64 $ 27 $ 4 30+ days past due Non-performing 1 Construction and forestry Current 7 29 2 1 30+ days past due Non-performing Total wholesale receivables $ 394 $ 93 $ 29 $ 6 October 30, 2022 2018 Prior Years Revolving Total Wholesale receivables: Agriculture and turf Current $ 2 $ 2,371 $ 2,855 30+ days past due Non-performing 1 Construction and forestry Current 1 377 417 30+ days past due Non-performing Total wholesale receivables $ 3 $ 2,748 $ 3,273 October 31, 2021 2021 2020 2019 2018 Wholesale receivables: Agriculture and turf Current $ 346 $ 80 $ 22 $ 9 30+ days past due Non-performing 12 Construction and forestry Current 41 7 7 30+ days past due Non-performing Total wholesale receivables $ 387 $ 87 $ 41 $ 9 October 31, 2021 2017 Prior Years Revolving Total Wholesale receivables: Agriculture and turf Current $ 3 $ 1,696 $ 2,156 30+ days past due Non-performing 12 Construction and forestry Current 1 $ 1 340 397 30+ days past due 1 1 Non-performing Total wholesale receivables $ 4 $ 2 $ 2,036 $ 2,566 An analysis of the allowance for credit losses and investment in financing receivables follows in millions of dollars: Retail Notes Revolving & Financing Charge Wholesale Leases Accounts Receivables Total 2022 Allowance: Beginning of year balance $ 138 $ 21 $ 7 $ 166 Provision (credit) 197 (2) (3) 192 Write-offs (61) (27) (88) Recoveries 22 30 52 Translation adjustments 3 3 End of year balance* $ 299 $ 22 $ 4 $ 325 Financing receivables: End of year balance $ 35,367 $ 4,255 $ 3,273 $ 42,895 2021 Allowance: Beginning of year balance $ 133 $ 43 $ 8 $ 184 ASU No. 2016-13 44 (13) 31 Provision (credit) (17) (1) (18) Write-offs (60) (28) (88) Recoveries 20 36 56 Translation adjustments 1 1 End of year balance* $ 138 $ 21 $ 7 $ 166 Financing receivables: End of year balance $ 32,233 $ 3,825 $ 2,566 $ 38,624 2020 Allowance: Beginning of year balance $ 107 $ 40 $ 3 $ 150 Provision 81 26 3 110 Write-offs (65) (53) (118) Recoveries 17 30 47 Translation adjustments (7) 2 (5) End of year balance* $ 133 $ 43 $ 8 $ 184 Financing receivables: End of year balance $ 27,206 $ 3,902 $ 3,529 $ 34,637 * Individual allowances were not significant. As part of the allowance setting process, the company continues to monitor the economy, including potential impacts of inflation and rising interest rates, among other factors, and qualitative adjustments to the allowance are incorporated, as necessary. In 2022, the allowance for credit losses on retail notes and financing lease receivables increased due to higher reserves related to the events in Russia / Ukraine and higher portfolio balances. This was partially offset by continued positive agricultural market conditions, which drove favorable impacts on the allowance. Similar to the strong performance in 2021, the revolving portfolio experienced low write-offs and solid recoveries. In 2021, the allowance for credit losses on retail notes and financing lease receivables increased due to the adoption of ASU No. 2016-13. This was partially offset by lower expected losses in the construction and forestry market and better than expected performance of accounts granted payment relief due to the economic effects of COVID. The allowance for credit losses on revolving charge accounts decreased in 2021, reflecting a decrease due to the adoption of ASU No. 2016-13 and continued improvement in the agricultural and turf market. Financing receivable analysis metrics follow in millions of dollars: 2022 2021 Percent of the overall financing receivable portfolio: Past-due amounts 1.07 1.09 Non-performing .83 .96 Allowance for credit losses .76 .43 Deposits held as credit enhancements $ 158 $ 154 A troubled debt restructuring is a significant 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. The following table includes receivable contracts identified as troubled debt restructurings: 2022 2021 2020 Number of receivable contracts 276 397 574 Pre-modification balance in millions $ 12 $ 18 $ 108 Post modification balance in millions 10 17 95 Troubled debt restructurings in 2022 and 2021 related to retail notes, while 2020 modifications related to wholesale receivables in Argentina. The short-term relief related to COVID (primarily granted in 2020) did not meet the definition of a troubled debt restructuring. In 2022, 2021, and 2020, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At October 30, 2022, the company had no commitments to lend to customers whose accounts were modified in troubled debt restructurings. Other Receivables Other receivables at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Taxes receivable $ 1,450 $ 1,436 Collateral on derivatives 709 13 Receivables from unconsolidated affiliates 27 Other 333 289 Other receivables $ 2,492 $ 1,765

SECURITIZATION OF FINANCING REC

SECURITIZATION OF FINANCING RECEIVABLES	12 Months Ended
SECURITIZATION OF FINANCING RECEIVABLES	Oct. 30, 2022
SECURITIZATION OF FINANCING RECEIVABLES
SECURITIZATION OF FINANCING RECEIVABLES	12. SECURITIZATION OF FINANCING RECEIVABLES As a part of its overall funding strategy, the company periodically transfers certain financing receivables (retail notes) into VIEs that are 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 does 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, which in turn issue debt to investors, or to non-VIE banking operations, which provide funding directly to the company. The funding provided by these third-parties result in secured borrowings, which are recorded as “Short-term securitization borrowings” on the balance sheets. The securitized retail notes are recorded as “Financing receivables securitized - net” on the balance sheets. The total restricted assets on the balance sheets 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 $5,037 million and $3,094 million at October 30, 2022 and October 31, 2021, respectively. The liabilities (short-term securitization borrowings and accrued interest) of these SPEs totaled $4,768 million and $3,024 million at October 30, 2022 and October 31, 2021, respectively. The credit holders of these SPEs do not have legal recourse to the company’s general credit. The company has a revolving warehouse facility to utilize bank conduit facilities to securitize retail notes, described further in the following paragraphs. At October 30, 2022, the facility had a total capacity, or “financing limit,” of up to $1,000 million of secured financings at any time. The agreement was renewed in November 2022 with an expiration in November 2023 and a capacity of $1,500 million. Through the revolving warehouse facility, 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 $843 million and $1,176 million at October 30, 2022 and October 31, 2021, respectively. The liabilities (short-term securitization borrowings and accrued interest) related to these conduits were $759 million and $1,113 million at October 30, 2022 and October 31, 2021, 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 at October 30, 2022 in millions of dollars: 2022 Carrying value of liabilities $ 759 Maximum exposure to loss 843 The total assets of the unconsolidated conduits related to securitizations were approximately $18 billion at October 30, 2022. In addition, through the revolving warehouse facility, the company transfers retail notes to banks, which may elect to fund the retail notes through the use of their own funding sources. These non-VIE banking operations are not consolidated since the company does not have a controlling interest in them. 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 $211 million and $496 million at October 30, 2022 and October 31, 2021, respectively. The liabilities (short-term securitization borrowings and accrued interest) were $190 million and $470 million at October 30, 2022 and October 31, 2021, respectively. The components of consolidated restricted assets, secured borrowings, and other liabilities related to secured borrowings at October 30, 2022 and October 31, 2021 were as follows in millions of dollars: 2022 2021 Financing receivables securitized (retail notes) $ 5,952 $ 4,673 Allowance for credit losses (16) (14) Other assets (primarily restricted cash) 155 107 Total restricted securitized assets $ 6,091 $ 4,766 Short-term securitization borrowings $ 5,711 $ 4,605 Accrued interest on borrowings 6 2 Total liabilities related to restricted securitized assets $ 5,717 $ 4,607 The short-term securitization borrowings are presented net of debt acquisition costs. The weighted-average interest rates on short-term securitization borrowings at October 30, 2022 and October 31, 2021 were 2.8 percent and .9 percent, respectively. 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 on cash flows generated by the restricted assets. Depending on the company’s ability to obtain and meet certain pre-established credit rating criteria, cash collections from these restricted assets are required to be placed into a segregated collection account either on a daily basis or immediately prior to the time payment is required to the secured creditors. At October 30, 2022 the maximum remaining term of all securitized retail notes was approximately seven years . The payment schedule for these borrowings at October 30, 2022 based on the expected liquidation of the retail notes in millions of dollars is as follows: 2023 - $2,703 , 2024 - $1,662 , 2025 - $955 , 2026 - $373 , 2027 - $25 , and later years - $3 .

INVENTORIES

INVENTORIES	12 Months Ended
INVENTORIES	Oct. 30, 2022
INVENTORIES
INVENTORIES	13. INVENTORIES A majority of inventory owned by Deere & Company and its U.S. equipment subsidiaries are valued at cost, on the “last-in, first-out” (LIFO) basis. Remaining inventories are generally valued at the lower of cost, on the “first-in, first-out” (FIFO) basis, or net realizable value. The value of gross inventories on the LIFO basis at October 30, 2022 and October 31, 2021 represented 57 percent and 54 percent, respectively, of worldwide gross inventories at FIFO value. If all inventories had been valued on a FIFO basis, estimated inventories by major classification at October 30, 2022 and October 31, 2021 in millions of dollars would have been as follows: 2022 2021 Raw materials and supplies $ 4,442 $ 3,524 Work-in-process 1,190 994 Finished goods and parts 5,363 4,373 Total FIFO value 10,995 8,891 Less adjustment to LIFO value 2,500 2,110 Inventories $ 8,495 $ 6,781

PROPERTY AND DEPRECIATION

PROPERTY AND DEPRECIATION	12 Months Ended
PROPERTY AND DEPRECIATION	Oct. 30, 2022
PROPERTY AND DEPRECIATION
PROPERTY AND DEPRECIATION	14. PROPERTY AND DEPRECIATION A summary of property and equipment at October 30, 2022 and October 31, 2021 in millions of dollars follows: Useful Lives* (Years) 2022 2021 Land $ 274 $ 297 Buildings and building equipment 22 4,386 4,352 Machinery and equipment 11 6,208 6,123 Dies, patterns, tools, etc. 8 1,558 1,679 All other 5 1,205 1,197 Construction in progress 818 527 Total at cost 14,449 14,175 Less accumulated depreciation 8,393 8,355 Property and equipment - net $ 6,056 $ 5,820 * Weighted-averages Total property and equipment additions in 2022, 2021, and 2020 were $1,197 million, $897 million, and $815 million and depreciation was $806 million, $830 million, and $800 million, respectively. Capitalized interest was $4 million, $3 million, and $6 million in the same periods, respectively. The cost of leased property and equipment under finance leases was $117 million and $131 million, with accumulated depreciation of $68 million and $60 million at October 30, 2022 and October 31, 2021, respectively. For property and equipment, more than 10 percent resides in the U.S. and Germany, separately disclosed below in millions of dollars: 2022 2021 2020 U.S. $ 3,452 $ 3,138 $ 3,150 Germany 991 1,096 1,113 Other countries 1,613 1,586 1,554 Total $ 6,056 $ 5,820 $ 5,817 The cost of compliance with foreseeable environmental requirements has been accrued and did not have a material effect on the company’s consolidated financial statements.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS-NET	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS-NET	Oct. 30, 2022
GOODWILL AND OTHER INTANGIBLE ASSETS-NET
GOODWILL AND OTHER INTANGIBLE ASSETS-NET	15. GOODWILL AND OTHER INTANGIBLE ASSETS – NET The changes in amounts of goodwill by operating segments were as follows in millions of dollars: PPA SAT CF Total November 1, 2020 $ 333 $ 268 $ 2,480 $ 3,081 Acquisitions (Note 3) 201 201 Translation adjustments and other 8 (3) 4 9 October 31, 2021 542 265 2,484 3,291 Acquisitions (Note 3) 132 69 599 800 Translation adjustments and other (28) (16) (360) (404) October 30, 2022 $ 646 $ 318 $ 2,723 $ 3,687 There were no accumulated goodwill impairment losses in the reported periods. The components of other intangible assets are as follows in millions of dollars: 2022 2021 Amortized intangible assets: Customer lists and relationships $ 493 $ 542 Technology, patents, trademarks, and other 1,301 1,104 Total at cost 1,794 1,646 Less accumulated amortization: Customer lists and relationships 166 151 Technology, patents, trademarks, and other 410 343 Total accumulated amortization 576 494 Amortized intangible assets 1,218 1,152 Unamortized intangible assets: In-process research and development 123 Other intangible assets - net $ 1,218 $ 1,275 In September 2017, the company acquired Blue River Technology’s in-process research and development related to machine learning technology to optimize the use of farm inputs. Those research and development activities were completed, and the company started amortizing the acquired technology in 2022. Other intangible assets are stated at cost less accumulated amortization. The amortization of other intangible assets in 2022, 2021, and 2020 was $145 million, $116 million, and $102 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: Estimated Year Amortization 2023 $ 162 2024 158 2025 131 2026 111 2027 110

OTHER ASSETS

OTHER ASSETS	12 Months Ended
OTHER ASSETS	Oct. 30, 2022
OTHER ASSETS
OTHER ASSETS	16. OTHER ASSETS Other assets at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Operating lease asset (Note 24) $ 299 $ 291 Capitalized software, net 372 282 Investment in unconsolidated affiliates 117 175 Deferred charges (including prepaids) 383 281 Derivative assets (Note 26) 373 275 Prepaid taxes 185 193 Parts return asset 119 114 Restricted cash 167 108 Matured lease & repossessed inventory 44 55 Other 358 371 Total $ 2,417 $ 2,145 Capitalized software has an estimated useful life of three years . Amortization of these software costs in 2022, 2021, and 2020 was $117 million, $121 million, and $133 million, respectively. Investment in unconsolidated affiliates are companies in which Deere & Company owns 20 percent to 50 percent of the outstanding voting shares. Deere & Company does not control these companies and accounts for its investments in them on the equity basis. In March 2022, the company acquired full ownership of three former Deere-Hitachi joint venture factories and began new license and supply agreements with Hitachi (see Note 3). During 2021, the company sold its investment in Bell Equipment Limited, resulting in no material gain or loss. Combined financial information of the unconsolidated affiliated companies in millions of dollars follows: Operations 2022 2021 2020 Sales $ 1,023 $ 2,095 $ 1,793 Net income 11 51 7 Deere & Company’s equity in net income (loss) 10 21 (48) Financial Position 2022 2021 Total assets $ 696 $ 1,289 Total external borrowings 470 497 Total net assets 166 366 Deere & Company’s share of the net assets 117 175 In the ordinary course of business, the company purchases and sells components and finished goods to the unconsolidated affiliated companies. Transactions with unconsolidated affiliated companies reported in the statements of consolidated income in millions of dollars follow: 2022 2021 2020 Net sales $ 26 $ 78 $ 81 Purchases 761 1,605 1,288

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	12 Months Ended
SHORT-TERM BORROWINGS	Oct. 30, 2022
SHORT-TERM BORROWINGS
TOTAL SHORT-TERM BORROWINGS	17. SHORT-TERM BORROWINGS Short-term borrowings at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Commercial paper $ 4,703 $ 2,230 Notes payable to banks 402 336 Finance lease obligations due within one year 21 23 Long-term borrowings due within one year* 7,466 8,330 Short-term borrowings $ 12,592 $ 10,919 * Includes unamortized fair value adjustments related to interest rate swaps. The weighted-average interest rates on short-term borrowings, excluding current maturities of finance lease obligations and long-term borrowings, at October 30, 2022 and October 31, 2021 were 4.1 percent and .8 percent, respectively. Lines of credit available from U.S. and foreign banks were $8,402 million at October 30, 2022. At October 30, 2022, $3,284 million of these worldwide lines of credit were unused. For the purpose of computing the unused credit lines, commercial paper and short-term bank borrowings, excluding secured borrowings and the current portion of long-term borrowings, were primarily considered to constitute utilization. Included in the total credit lines at October 30, 2022 was a 364-day credit facility agreement of $3,000 million, expiring in the second quarter of 2023. In addition, total credit lines included long-term credit facility agreements of $2,500 million, expiring in the second quarter of 2026, and $2,500 million, expiring in the second quarter of 2027. The agreements are mutually extendable, and the annual facility fees are not significant. In October 2022, the company amended these credit agreements with pricing adjustments tied to the Leap Ambitions framework. Failure to meet certain Scope 1 and 2 emissions targets or engaged acres goals will result in a maximum 6 basis-point penalty rate, while exceeding certain thresholds on the same metrics will result in a similar favorable rate adjustment. These credit agreements require Capital Corporation to maintain its consolidated ratio of earnings to fixed charges at not less than 1.05 to 1 for each fiscal quarter and the ratio of senior debt, excluding securitization indebtedness, to capital base (total subordinated debt and stockholder’s equity excluding accumulated other comprehensive income (loss)) at not more than 11 to 1 at the end of any fiscal quarter. The credit agreements also require the equipment operations to maintain a ratio of total debt to total capital (total debt and stockholders’ equity excluding accumulated other comprehensive income (loss)) of 65 percent or less at the end of each fiscal quarter. Under this provision, the company’s excess equity capacity and retained earnings balance free of restriction at October 30, 2022 was $18,526 million. Alternatively under this provision, the equipment operations had the capacity to incur additional debt of $34,405 million at October 30, 2022. All of these credit agreement requirements have been met during the periods included in the consolidated financial statements. Deere & Company has an agreement with Capital Corporation pursuant to which it has agreed to continue to own, directly or through one or more wholly-owned subsidiaries, at least 51 percent of the voting shares of capital stock of Capital Corporation and to maintain Capital Corporation’s consolidated tangible net worth at not less than $50 million. This agreement also obligates Deere & Company to make payments to Capital Corporation such that its consolidated ratio of earnings to fixed charges is not less than 1.05 to 1 for each fiscal quarter. Deere & Company’s obligations to make payments to Capital Corporation under the agreement are independent of whether Capital Corporation is in default on its indebtedness, obligations or other liabilities. Further, Deere & Company’s obligations under the agreement are not measured by the amount of Capital Corporation’s indebtedness, obligations, or other liabilities. Deere & Company’s obligations to make payments under this agreement are expressly stated not to be a guaranty of any specific indebtedness, obligation, or liability of Capital Corporation and are enforceable only by or in the name of Capital Corporation. No payments were required under this agreement during the periods included in the consolidated financial statements. At October 30, 2022, Deere & Company indirectly owned 100 percent of the voting shares of Capital Corporation’s capital stock and Capital Corporation’s consolidated tangible net worth was $4,803 million.

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	12 Months Ended
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	Oct. 30, 2022
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	18. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Accounts payable and accrued expenses Accounts payable: Trade payables $ 3,894 $ 3,173 Payables to unconsolidated affiliates 11 143 Dividends payable 343 329 Operating lease liabilities 302 279 Deposits withheld from dealers and merchants 163 157 Other 214 159 Accrued expenses: Dealer sales discounts 2,324 1,636 Product warranties 1,427 1,312 Employee benefits 1,528 1,531 Accrued taxes 1,265 1,075 Unearned operating lease revenue 399 421 Unearned revenue (contractual liability) 557 570 Extended warranty premium 866 774 Accrued interest 288 251 Derivative liabilities 1,231 228 Other 1,320 1,175 Total 16,132 13,213 Eliminations* 1,310 865 Total accounts payable and accrued expenses $ 14,822 $ 12,348 * Pri marily sales incentive accruals with a right of set-off against trade receivables. At October 30, 2022 and October 31, 2021, $1,280 million and $836 million, respectively, of sales incentive accruals were classified as accrued expenses by the equipment operations as the related trade receivables had been sold to financial services.

LONG-TERM BORROWINGS

LONG-TERM BORROWINGS	12 Months Ended
LONG-TERM BORROWINGS	Oct. 30, 2022
LONG-TERM BORROWINGS
LONG-TERM BORROWINGS	19. LONG-TERM BORROWINGS Long-term borrowings at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Underwritten term debt U.S. dollar notes and debentures: 2.75% notes due 2025 $ 700 $ 700 6.55% debentures due 2028 200 200 5.375% notes due 2029 500 500 3.10% notes due 2030 700 700 8.10% debentures due 2030 250 250 7.125% notes due 2031 300 300 3.90% notes due 2042 1,250 1,250 2.875% notes due 2049 500 500 3.75% notes due 2050 850 850 Euro notes: .5% notes due 2023 ( €500 principal) 584 1.375% notes due 2024 ( €800 principal) 797 934 1.85% notes due 2028 ( €600 principal) 598 701 2.20% notes due 2032 ( €600 principal) 598 701 1.65% notes due 2039 ( €650 principal) 648 759 Serial issuances Medium-term notes: (principal $25,629 - 2022, $22,647 - 2021) Average interest rates of 2.9% - 2022, 1.2% - 2021 24,604 22,899 Other notes and finance lease obligations 1,223 1,178 Less debt issuance costs and debt discounts (122) (118) Long-term borrowings $ 33,596 $ 32,888 Medium-term notes serially due 2023 through 2032 are primarily offered by prospectus and issued at fixed and variable rates. These notes are presented in the table above with fair value adjustments related to interest rate swaps. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other. In April 2022, the company issued $600 million of sustainability-linked medium-term notes with an initial interest rate of 3.35 percent, which are due in 2029. This transaction supports the company’s commitment to environmental sustainability. Failure to meet the stated sustainability performance target will result in a 25 -basis point increase to the interest rate payable on the 2029 notes from and including April 2026. The principal amounts of the company’s long-term borrowings maturing in each of the next five years in millions of dollars are as follows: 2023 - $7,453 , 2024 - $7,960 , 2025 - $6,820 , 2026 - $4,154 , and 2027 - $3,242 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Oct. 30, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	20. COMMITMENTS AND CONTINGENCIES The company 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 determined by a review of five-year claims costs and current quality developments. The premiums for extended warranties are recognized in “Other income” in the statements of consolidated income in proportion to the costs expected to be incurred over the contract period. The unamortized extended warranty premiums (deferred revenue) included in the following table totaled $866 million and $774 million at October 30, 2022 and October 31, 2021, respectively. A reconciliation of the changes in the warranty liability and unearned premiums in millions of dollars follows: Warranty Liability/ Unearned Premiums 2022 2021 Beginning of year balance $ 2,086 $ 1,743 Payments (951) (864) Amortization of premiums received (289) (227) Accruals for warranties 1,094 1,071 Premiums received 404 358 Foreign exchange (51) 5 End of year balance $ 2,293 $ 2,086 At October 30, 2022, the company had approximately $287 million of guarantees issued 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 October 30, 2022, the accrued losses under these agreements were not material. The maximum remaining term of the receivables guaranteed at October 30, 2022 was about eight years . At October 30, 2022, the company had commitments of approximately $418 million for the construction and acquisition of property and equipment. Also at October 30, 2022, the company had restricted assets of $221 million, classified as “Other assets.” The company also had other miscellaneous contingent liabilities and guarantees totaling approximately $110 million at October 30, 2022. The accrued liability for these contingencies was not material at October 30, 2022. The company has commitments to extend credit to customers through lines of credit and other pre-approved credit arrangements. The amount of unused commitments to extend credit to John Deere dealers was approximately $10 billion at October 30, 2022. The amount of unused commitments to extend credit to retail customers was approximately $32 billion at October 30, 2022, primarily related to revolving charge accounts. A significant portion of these commitments is not expected to be fully drawn upon; therefore, the total commitment amounts likely do not represent a future cash requirement. The company generally has the right to unconditionally cancel, alter, or amend the terms of these commitments at any time. The company has a reserve for credit losses of $3 million on unfunded commitments that are not unconditionally cancellable at October 30, 2022. 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, trademark, and antitrust matters. The company believes the reasonably possible range of losses for these unresolved legal actions would not have a material effect on its financial statements.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
CAPITAL STOCK	Oct. 30, 2022
CAPITAL STOCK
CAPITAL STOCK	21. CAPITAL STOCK The $1 par value common stock of Deere & Company is listed on the New York Stock Exchange under the symbol “DE”. At October 30, 2022, there were 17,829 holders of record of the company’s common stock. The number of common shares the company is authorized to issue is 1,200 million. The number of common shares issued at October 30, 2022, October 31, 2021, and November 1, 2020 was 536.4 million. The number of authorized preferred shares is nine million. No preferred shares have been issued. The Board of Directors at a meeting in December 2019 authorized the repurchase of up to $8,000 million of common stock. At the end of fiscal year 2022, this repurchase program had $2,228 million ( 5.6 million shares based on the fiscal year end closing common stock price of $396.85 per share) remaining to be repurchased. Repurchases of the company’s common stock under this plan are made from time to time, at the company’s discretion, in the open market. A reconciliation of basic and diluted net income per share attributable to Deere & Company follows in millions, except per share amounts: 2022 2021 2020 Net income attributable to Deere & Company $ 7,131 $ 5,963 $ 2,751 Average shares outstanding 304.5 311.6 313.5 Basic per share $ 23.42 $ 19.14 $ 8.77 Average shares outstanding 304.5 311.6 313.5 Effect of dilutive stock options 1.8 2.4 3.1 Total potential shares outstanding 306.3 314.0 316.6 Diluted per share $ 23.28 $ 18.99 $ 8.69 All stock options outstanding were included in the computation of diluted shares except .2 million in 2022 and .6 million in 2020 that had an antidilutive effect under the treasury stock method.

STOCK OPTION AND RESTRICTED STO

STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS	12 Months Ended
STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS	Oct. 30, 2022
STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS
STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS	22. STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS The company issues stock options and restricted stock unit awards to key employees under plans approved by stockholders. Restricted stock unit awards consist of service-based and performance /service-based awards. Restricted stock units are also issued to nonemployee directors for their services as directors under a plan approved by stockholders. At October 30, 2022, the company is authorized to grant an additional 17.2 million shares related to stock options or restricted stock units. The company currently uses shares that have been repurchased through its stock repurchase programs to satisfy share option exercises. Service-based restricted stock units cliff vest after a three-year service period and include dividend equivalent payments. Performance/service-based awards are subject to a performance metric based on the company’s compound annual revenue growth rate, compared to a benchmark group of companies over the three-year vesting period. The performance/service-based units award common stock in a range of zero to 200 percent for each unit granted based on the level of the metric achieved and do not include dividend equivalent payments over the vesting period. Stock options ratably vest over a three-year service period and expire ten years from the grant date. The fair value of stock options and service-based restricted stock units, which is based on the closing price of the company’s common stock on the grant date, are expensed over the shorter of the award vesting period or the employee’s retirement eligibility period. Performance/service-based units expense, which are based on the fair value at the grant date excluding dividends, are recognized over the employees’ requisite service period and adjusted quarterly for the probable number of shares to be awarded. The fair value of each stock option award was estimated on the date of grant using a binomial lattice option valuation model. The company recognizes the effect of award forfeitures as an adjustment to compensation expense in the period the forfeiture occurs. The total share-based compensation expense, recognized income tax benefits, and total grant-date fair values of stock options and restricted stock units vested consisted of the following in millions of dollars: 2022 2021 2020 Share-based compensation expense $ 85 $ 82 $ 81 Income tax benefits 17 16 19 Stock options and restricted stock units vested 74 93 79 At October 30, 2022, there was $66 million of total unrecognized compensation cost from share-based compensation arrangements granted under the plans. This compensation is expected to be recognized over a weighted-average period of approximately 1.5 years. Stock Options Expected volatilities are based on implied volatilities from traded call options on the company’s stock. The expected volatilities are constructed from the following three components: the starting implied volatility of short-term call options traded within a few days of the valuation date; the predicted implied volatility of long-term call options; and the trend in implied volatilities over the span of the call options’ time to maturity. The company uses historical data to estimate option exercise behavior. The expected term of options granted is derived from the output of the option valuation model based on the underlying distribution of historical exercise behavior and represents the weighted-average period of time that options granted are expected to be outstanding. The risk-free rates utilized for periods throughout the contractual life of the options are based on U.S. Treasury security yields at the time of grant. The assumptions used for the binomial lattice model to determine the fair value of options follow: 2022 2021 2020 Risk-free interest rate* 1.27% .47% 1.67% Expected dividends 1.2% 1.2% 1.8% Volatility* 32.0% 31.0% 26.0% Expected term (in years)* 5.1 5.5 5.7 * Weighted-averages The activity for outstanding stock options at October 30, 2022, and changes during 2022 in millions of dollars and shares follow: Remaining Contractual Aggregate Exercise Term Intrinsic Shares Price* (Years) Value Outstanding at beginning of year 2.5 $ 127.82 Granted .2 343.94 Exercised (.6) 105.85 Forfeited (.1) 290.65 Outstanding at end of year 2.0 153.11 4.81 $ 497.2 Exercisable at end of year 1.6 119.16 3.79 436.9 * Weighted-averages The amounts related to stock options were as follows in millions of dollars unless otherwise noted: 2022 2021 2020 Weighted-average grant date fair values (per share) $ 89.20 $ 62.73 $ 35.83 Intrinsic value of options exercised $ 169 $ 318 $ 398 Cash received from exercises 63 148 331 Tax benefit from exercises 39 71 93 Restricted Stock Units The weighted-average grant date fair values were as follows: 2022 2021 2020 Service-based $ 347.59 $ 258.86 $ 168.94 Performance/service-based 331.47 245.73 160.81 The company’s restricted stock units at October 30, 2022 and changes during 2022 in thousands of shares follow: Grant-Date Shares Fair Value* Service-based Nonvested at beginning of year 486 $ 190.87 Granted 139 347.59 Vested (208) 173.62 Forfeited (13) 259.72 Nonvested at end of year 404 251.42 Performance/service based Nonvested at beginning of year 197 $ 171.82 Granted 37 331.47 Vested (168) 139.37 Performance change 84 139.37 Forfeited (7) 267.13 Nonvested at end of year 143 227.70 * Weighted-averages

OTHER COMPREHENSIVE INCOME ITEM

OTHER COMPREHENSIVE INCOME ITEMS	12 Months Ended
OTHER COMPREHENSIVE INCOME ITEMS	Oct. 30, 2022
OTHER COMPREHENSIVE INCOME ITEMS
OTHER COMPREHENSIVE INCOME ITEMS	23. OTHER COMPREHENSIVE INCOME ITEMS The after-tax components of accumulated other comprehensive income follow in millions of dollars. 2022 2021 2020 Retirement benefits adjustment $ (389) $ (1,034) $ (3,918) Cumulative translation adjustment (2,594) (1,478) (1,596) Unrealized gain (loss) on derivatives 21 (42) (58) Unrealized gain (loss) on debt securities (94) 15 33 Total accumulated other comprehensive income (loss) $ (3,056) $ (2,539) $ (5,539) Following are amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects, in millions of dollars. Retirement benefits adjustment reclassifications for actuarial (gain) loss, prior service (credit) cost, and settlements/curtailment are included in net periodic pension and other postretirement benefit costs (see Note 7). Before Tax After Tax (Expense) Tax Amount Credit Amount 2022 Cumulative translation adjustment $ (1,105) $ (11) $ (1,116) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) 89 (19) 70 Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense (9) 2 (7) Net unrealized gain (loss) on derivatives 80 (17) 63 Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) (140) 30 (110) Reclassification of realized (gain) loss – Other income 1 1 Net unrealized gain (loss) on debt securities (139) 30 (109) Retirement benefits adjustment: Net actuarial gain (loss) 1,192 (298) 894 Prior service credit (cost) (517) 124 (393) Reclassification to Other operating expenses through amortization of: Actuarial (gain) loss 116 (29) 87 Prior service (credit) cost 30 (7) 23 Settlements/curtailments 45 (11) 34 Net unrealized gain (loss) on retirement benefits adjustment 866 (221) 645 Total other comprehensive income (loss) $ (298) $ (219) $ (517) Before Tax After Tax (Expense) Tax Amount Credit Amount 2021 Cumulative translation adjustment: Unrealized translation gain (loss) $ 112 $ 112 Reclassification of realized (gain) loss to: Equity in (income) loss of unconsolidated affiliates 6 6 Net unrealized translation gain (loss) 118 118 Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) 8 $ (2) 6 Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 13 (3) 10 Net unrealized gain (loss) on derivatives 21 (5) 16 Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) (21) 3 (18) Net unrealized gain (loss) on debt securities (21) 3 (18) Retirement benefits adjustment: Net actuarial gain (loss) 3,492 (845) 2,647 Reclassification to Other operating expenses through amortization of: Actuarial (gain) loss 283 (69) 214 Prior service (credit) cost 8 (2) 6 Settlements 22 (5) 17 Net unrealized gain (loss) on retirement benefits adjustment 3,805 (921) 2,884 Total other comprehensive income (loss) $ 3,923 $ (923) $ 3,000 Before Tax After Tax (Expense) Tax Amount Credit Amount 2020 Cumulative translation adjustment: Unrealized translation gain (loss) $ 18 $ 1 $ 19 Reclassification of realized (gain) loss to: Other operating expenses 13 13 Equity in (income) loss of unconsolidated affiliates 23 23 Net unrealized translation gain (loss) 54 1 55 Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (18) 2 (16) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 21 (3) 18 Net unrealized gain (loss) on derivatives 3 (1) 2 Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 17 (3) 14 Net unrealized gain (loss) on debt securities 17 (3) 14 Retirement benefits adjustment: Net actuarial gain (loss) (302) 65 (237) Reclassification to Other operating expenses through amortization of: Actuarial (gain) loss 278 (68) 210 Prior service (credit) cost 7 (2) 5 Settlements 26 (7) 19 Net unrealized gain (loss) on retirement benefits adjustment 9 (12) (3) Total other comprehensive income (loss) $ 83 $ (15) $ 68

LEASES

LEASES	12 Months Ended
LEASES	Oct. 30, 2022
LEASES
LEASES	24. LEASES The company is both a lessee and a lessor. The company leases for its own use warehouse facilities, office space, production equipment, information technology equipment, and vehicles. The expected use periods range from less than one year to 20 years. The company’s financial services segment leases to users equipment produced or sold by the company, and a limited amount of other equipment. 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 sheets a lease liability and a right of use asset for leases with a term greater than one year 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 not readily determinable. The company determines the incremental borrowing rate for each lease based 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 one year 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 extend the lease term from one to ten years . Options that the company is reasonably certain to exercise are included in the lease term. The company has elected to combine lease and nonlease components, such as maintenance and utilities costs included in a lease contract, for all asset classes. Leases with an initial term of one year or less are expensed on a straight-line basis over the lease term and recorded in short-term lease expense. Variable lease expense 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: 2022 2021 2020 Operating lease expense $ 114 $ 116 $ 126 Short-term lease expense 55 29 23 Variable lease expense 74 53 41 Finance lease: Depreciation expense 26 26 20 Interest on lease liabilities 1 1 2 Total lease expense $ 270 $ 225 $ 212 Operating and finance lease right of use assets and lease liabilities follow in millions of dollars: 2022 2021 Operating leases: Other assets $ 299 $ 291 Accounts payable and accrued expenses 302 279 Finance leases: Property and equipment — net $ 49 $ 71 Short-term borrowings 21 23 Long-term borrowings 30 38 Total finance lease liabilities $ 51 $ 61 The weighted-average remaining lease terms in years and discount rates follows: 2022 2021 Weighted-average remaining lease terms: Operating leases 7 5 Finance leases 3 2 Weighted-average discount rates: Operating leases 2.4% 2.3% Finance leases 1.9% 2.3% Lease payment amounts in each of the next five years at October 30, 2022 follow in millions of dollars: Operating Finance Due in: Leases Leases 2023 $ 95 $ 22 2024 77 14 2025 54 7 2026 27 3 2027 17 2 Later years 53 6 Total lease payments 323 54 Less imputed interest 21 3 Total lease liabilities $ 302 $ 51 Cash paid for amounts included in the measurement of lease liabilities follows in millions of dollars: 2022 2021 2020 Operating cash flows for operating leases $ 127 $ 104 $ 124 Operating cash flows for finance leases 1 1 2 Financing cash flows for finance leases 28 25 17 Right of use assets obtained in exchange for lease liabilities follow in millions of dollars: 2022 2021 Operating leases $ 135 $ 101 Finance leases 17 27 Lessor The company leases equipment manufactured or sold by the company and a limited amount of non-John 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 sheets. Operating leases are reported in “Equipment on operating leases - net” on the consolidated balance sheets. Leases offered by the company may include early termination and renewal options. At the end of a lease, the lessee 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 change. 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 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 were recorded in “Other operating expenses.” The company has elected to combine lease and nonlease components. The nonlease components 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 statements of consolidated income. Variable lease revenues relate to property taxes on leased assets in certain markets and late fees. Variable lease revenues also include excess use and damage fees of $2 million, $7 million, and $8 million for 2022, 2021, and 2020 respectively, which were reported in “Other income” on the statements of consolidated income. Lease revenues earned by the company follow in millions of dollars: 2022 2021 2020 Sales-type and direct finance lease revenues $ 154 $ 145 $ 135 Operating lease revenues 1,318 1,423 1,469 Variable lease revenues 26 30 31 Total lease revenues $ 1,498 $ 1,598 $ 1,635 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 market follow in millions of dollars: 2022 2021 Agriculture and turf $ 1,118 $ 1,131 Construction and forestry 1,167 1,284 Total 2,285 2,415 Guaranteed residual values 491 394 Unguaranteed residual values 56 70 Less unearned finance income (285) (258) Financing lease receivables $ 2,547 $ 2,621 Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at October 30, 2022 follow in millions of dollars: Due in: 2022 2023 $ 1,310 2024 722 2025 404 2026 200 2027 120 Later years 20 Total $ 2,776 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 market follow in millions of dollars: 2022 2021 Agriculture and turf $ 6,912 $ 7,317 Construction and forestry 1,342 1,616 Total 8,254 8,933 Less accumulated depreciation (1,631) (1,945) Equipment on operating leases - net $ 6,623 $ 6,988 The total operating lease residual values at October 30, 2022 and October 31, 2021 were $4,640 million and $5,025 million, respectively. For operating lease originations effective after January 2020, John Deere dealers provide a first-loss residual value guarantee. The total first-loss residual value guarantees were $1,025 million and $950 million at October 30, 2022 and October 31, 2021, respectively. The equipment is depreciated on a straight-line basis over the term of the lease. The corresponding depreciation expense was $827 million in 2022, $983 million in 2021, and $1,083 million in 2020. Lease payments for equipment on operating leases at October 30, 2022 were scheduled as follows in millions of dollars: Due in: 2022 2023 $ 974 2024 709 2025 437 2026 228 2027 58 Later years 6 Total $ 2,412 Past due balances of operating leases represent the total balance held (net book value plus accrued lease payments) and still accruing financing income with any payment amounts 30 days or more past the contractual payment due date. These amounts were $68 million and $70 million at October 30, 2022 and October 31, 2021, respectively. 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 and recorded in “Other assets” at the lower of net book value or estimated fair value of the equipment less costs to sell and is not depreciated. In 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 were included in “Other operating expenses.”

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Oct. 30, 2022
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	25. 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. 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. The fair values of financial instruments that do not approximate the carrying values at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Carrying Fair Carrying Fair Value Value* Value Value* Financing receivables – net $ 36,634 $ 35,526 $ 33,799 $ 33,718 Financing receivables securitized – net 5,936 5,698 4,659 4,704 Short-term securitization borrowings 5,711 5,577 4,605 4,610 Long-term borrowings due within one year 7,466 7,322 8,330 8,364 Long-term borrowings 33,566 31,852 32,850 34,506 * Fair value measurements above were Level 3 for all financing receivables and Level 2 for all borrowings. ** Values exclude finance lease liabilities that are presented as borrowings (see Note 24). Assets and liabilities measured at October 30, 2022 and October 31, 2021 at fair value on a recurring basis in millions of dollars follow, excluding the company’s cash equivalents, which were carried at a cost that approximates fair value and consisted of money market funds and time deposits: 2022 2021 Level 1: Marketable securities U.S. equity fund $ 70 $ 75 International equity securities 3 2 U.S. government debt securities 62 59 Total Level 1 marketable securities 135 136 Level 2: Marketable securities U.S. government debt securities 121 139 Municipal debt securities 63 73 Corporate debt securities 200 224 International debt securities 60 2 Mortgage-backed securities* 155 154 Total Level 2 marketable securities 599 592 Other assets Derivatives 373 275 Accounts payable and accrued expenses Derivatives 1,231 228 Level 3: Accounts payable and accrued expenses – Deferred consideration 236 * Primarily issued by U.S. government sponsored enterprises. Fair value, nonrecurring measurements from impairments at October 30, 2022 and October 31, 2021 in millions of dollars follow: Fair Value Losses 2022 1 2021 2022 2021 2020 Other receivables $ 2 Equipment on operating leases – net 22 Inventories $ 19 $ 19 Property and equipment – net 2 15 $ 41 41 $ 44 102 Investments in unconsolidated affiliates 50 Other intangible assets – net 28 2 Other assets 3 1 6 16 1 Related to assessments on the Russian operations, performed at May 1, 2022 and updated on July 31, 2022 and October 30, 2022. 2 2021 fair value of $41 million at January 31, 2021. 3 2021 fair value as of January 31, 2021. The following is a description of the valuation methodologies the company uses to measure certain financial instruments on the balance sheets at fair value. For more information on asset impairments, see Note 4. Marketable securities – The portfolio of investments is valued on a market approach (matrix pricing model) in which all significant inputs are observable or can be derived from or corroborated by observable market data such as interest rates, yield curves, volatilities, credit risk, and prepayment speeds. Funds are valued using the fund’s net asset value, based on the fair value of the underlying securities. Derivatives – The company’s derivative financial instruments consist of interest rate contracts (swaps), foreign currency exchange contracts (futures, forwards and swaps), and cross-currency interest rate contracts (swaps). The portfolio is valued based on an income approach (discounted cash flow) using market observable inputs, including swap curves and both forward and spot exchange rates for currencies. 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 (see Note 11). Other receivables – The impairment was based on the expected realization of value-added tax receivables related to a closed factory operation. Equipment on operating leases – net – The impairments are based on an income approach (discounted cash flow), using the contractual payments, plus an estimate of return rates and equipment sale price at lease maturity. Inputs include historical return rates and realized sales values. Inventories – The impairment was based on net realizable value, less reasonably predictable selling and disposal costs. Property and equipment – net – The valuations were based on cost and market approaches. The inputs include replacement cost estimates adjusted for physical deterioration and economic obsolescence, or quoted prices when available. Investment in unconsolidated affiliates – Other than temporary impairments for investments are measured as the difference between the implied fair value or the estimated realization amount, and the carrying value. The fair value for publicly traded entities is the share price multiplied by the shares owned, or the estimated realization amount. Other intangible assets – net – In 2022, the company considered external valuations based on the company’s probability weighted cash flow analysis. In 2020, the impairment was measured at the remaining net book value of customer relationships related to a closed factory operation. Other assets – In 2021, the impairments were measured at the fair value of the right of use operating lease asset. In 2020, the impairments of the matured operating lease inventory were measured at the fair value of that equipment. The valuations were based on a market approach. The inputs include sales of comparable assets. Also in 2020, the impairment of the German lawn mower business was measured at the estimated realizable value. Fair value was based on estimates of the final sale price.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
DERIVATIVE INSTRUMENTS	Oct. 30, 2022
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS	26. DERIVATIVE INSTRUMENTS 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 October 30, 2022 and October 31, 2021 were $1,950 million and $2,700 million, respectively. Fair value gains or losses on cash flow hedges are recorded in OCI and subsequently reclassified into interest expense in the same periods during which the hedged transactions impact earnings. These amounts offset the effects of interest rate changes on the related borrowings. The amount of gain recorded in OCI at October 30, 2022 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 $44 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 October 30, 2022 and October 31, 2021 were $10,112 million and $8,043 million, respectively. The fair value gains or losses on these contracts were offset by fair value gains or losses on the hedged items (fixed-rate borrowings) with both items recorded in interest expense. The amounts recorded, at October 30, 2022 and October 31, 2021, in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows in millions of dollars. Fair value hedging adjustments are included in the carrying amount of the hedged item. Active Hedging Discontinued Hedging Relationships Relationships Carrying Cumulative Carrying Cumulative Amount of Fair Value Amount of Fair Value Hedged Hedging Formerly Hedging Item Amount Hedged Item Amount 2022 Short-term borrowings $ 2,515 $ 15 Long-term borrowings $ 9,060 $ (1,006) 5,520 (19) 2021 Short-term borrowings $ 191 $ 3 $ 1,997 $ (2) Long-term borrowings 7,847 29 6,287 223 Derivatives Not Designated as Hedging Instruments The company has certain interest rate contracts (swaps), foreign currency 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 for certain borrowings, purchases or sales of inventory, and sales incentive programs. The total notional amounts of the interest rate swaps at October 30, 2022 and October 31, 2021 were $10,568 million and $10,848 million, the foreign currency exchange contracts were $8,185 million and $7,584 million, and the cross-currency interest rate contracts were $260 million and $238 million, respectively. The fair value gains or losses from derivatives not designated as hedging instruments were recorded in the statements of consolidated income, generally offsetting over time the exposure on the hedged item. Fair values of derivative instruments in the consolidated balance sheets at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Other Assets Designated as hedging instruments: Interest rate contracts $ 87 $ 166 Not designated as hedging instruments: Interest rate contracts 212 73 Foreign exchange contracts 66 31 Cross-currency interest rate contracts 8 5 Total not designated 286 109 Total derivative assets $ 373 $ 275 Accounts Payable and Accrued Expenses Designated as hedging instruments: Interest rate contracts $ 1,004 $ 99 Not designated as hedging instruments: Interest rate contracts 107 33 Foreign exchange contracts 118 94 Cross-currency interest rate contracts 2 2 Total not designated 227 129 Total derivative liabilities $ 1,231 $ 228 The classification and gains (losses), including accrued interest expense, related to derivative instruments on the statements of consolidated income consisted of the following in millions of dollars: 2022 2021 2020 Fair Value Hedges Interest rate contracts – Interest expense $ (1,144) $ (236) $ 496 Cash Flow Hedges Recognized in OCI: Interest rate contracts – OCI (pretax) 89 8 (18) Reclassified from OCI: Interest rate contracts – Interest expense 9 (13) (21) Not Designated as Hedges Interest rate contracts – Net sales $ 53 $ 13 $ (23) Interest rate contracts – Interest expense* 81 14 (2) Foreign exchange contracts – Net sales (6) Foreign exchange contracts – Cost of sales (64) (101) 93 Foreign exchange contracts – Other operating expenses* 402 (262) 122 Total not designated $ 466 $ (336) $ 190 * Includes interest and foreign exchange gains (losses) from cross-currency interest rate contracts. 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 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 October 30, 2022 and October 31, 2021, was $1,113 million and $135 million, respectively. In accordance with the limits established in these agreements, the company posted $701 million of cash collateral at October 30, 2022 and no cash collateral at October 31, 2021. In addition, the company paid $8 million of collateral either in cash or pledged securities that was outstanding at both October 30, 2022 and October 31, 2021 to participate in an international futures market to hedge currency exposure, not included in the table below. Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities related to netting arrangements and collateral at October 30, 2022 and October 31, 2021 in millions of dollars follows: Gross Amounts Netting Net Recognized Arrangements Collateral Amount 2022 Assets $ 373 $ (179) $ (54) $ 140 Liabilities 1,231 (179) (701) 351 2021 Assets $ 275 $ (105) $ 170 Liabilities 228 (105) $ (5) 118

SEGMENT DATA

SEGMENT DATA	12 Months Ended
SEGMENT DATA	Oct. 30, 2022
SEGMENT DATA
SEGMENT DATA	27. SEGMENT DATA The company’s operations are presently organized and reported in four business segments described as follows. This presentation is consistent with how the chief operating decision maker (the CEO) assesses the performance of the segments and makes decisions about resource allocations. The production and precision agriculture segment defines, develops, and delivers global equipment and technology solutions to unlock customer value for production-scale growers of large grains, small grains, cotton, and sugarcane. Main products include large and certain mid-size tractors, combines, cotton pickers, sugarcane harvesters and loaders, and soil preparation, seeding, application and crop care equipment. The small agriculture and turf segment defines, develops, and delivers global equipment and technology solutions to unlock customer value for dairy and livestock producers, high-value crop producers, and turf and utility customers. The segment’s primary products include certain mid-size and small tractors, as well as hay and forage equipment, riding and commercial lawn equipment, golf course equipment, and utility vehicles. The construction and forestry segment defines, develops, and delivers a broad range of machines and technology solutions organized along the earthmoving, forestry, and roadbuilding production systems. The segment’s primary products include crawler dozers and loaders, four-wheel-drive loaders, excavators, skid-steer loaders, milling machines, and log harvesters. The products and services produced by the segments above are marketed through independent retail dealer networks and major retail outlets, and, as it relates to roadbuilding products in certain markets outside the U.S. and Canada, through company-owned sales and service subsidiaries. The financial services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment, and construction and forestry equipment. In addition, the financial services segment provides wholesale financing to dealers of the foregoing equipment, finances retail revolving charge accounts, and offers extended equipment warranties. Because of integrated manufacturing operations and common administrative and marketing support, a substantial number of allocations must be made to determine operating segment data. Intersegment sales and revenues represent sales of products and components or finance charges, which are based on market prices, from one operating segment to another operating segment. Intersegment sales of products and components are eliminated in all Net sales data presented in this Annual Report. Intersegment sales and revenues in 2022, 2021, and 2020 were as follows: production and precision agriculture net sales of $19 million, $27 million, and $22 million; small agriculture and turf net sales of $10 million, $11 million, and $2 million; construction and forestry had $1 million, none , and $1 million; and financial services revenues of $460 million, $246 million, and $278 million, respectively. Identifiable assets assigned to the operating segments are those the units actively manage, consisting of trade receivables, inventories, property and equipment, intangible assets, and certain other assets. Corporate assets are managed collectively, including cash and cash equivalents, retirement benefit net assets, goodwill, and deferred income tax assets. Information relating to operations by operating segment in millions of dollars follows for the years ended October 30, 2022, October 31, 2021 and November 1, 2020. OPERATING SEGMENTS 2022 2021 2020 Net sales and revenues Unaffiliated customers: Production & precision ag net sales $ 22,002 $ 16,509 $ 12,962 Small ag & turf net sales 13,381 11,860 9,363 Construction & forestry net sales 12,534 11,368 8,947 Financial services revenues 3,625 3,548 3,589 Other revenues* 1,035 739 679 Total $ 52,577 $ 44,024 $ 35,540 * Other revenues are primarily the production and precision ag, small ag and turf, and construction and forestry revenues for finance and interest income, and other income. OPERATING SEGMENTS 2022 2021 2020 Operating profit Production & precision ag $ 4,386 $ 3,334 $ 1,969 Small ag & turf 1,949 2,045 1,000 Construction & forestry 2,014 1,489 590 Financial services* 1,159 1,144 746 Total operating profit* 9,508 8,012 4,305 Interest income 159 82 62 Interest expense (390) (368) (329) Foreign exchange gains (losses) from equipment operations’ financing activities (103) (45) 17 Pension and OPEB benefit (cost), excluding service cost component 218 183 31 Corporate expenses – net (255) (241) (251) Income taxes (2,007) (1,658) (1,082) Total (2,378) (2,047) (1,552) Net income 7,130 5,965 2,753 Less: Net income (loss) attributable to noncontrolling interests (1) 2 2 Net income attributable to Deere & Company $ 7,131 $ 5,963 $ 2,751 * Operating profit of the financial services business segment includes the effect of its interest expense and foreign exchange gains or losses. Interest income* Production & precision ag $ 22 $ 21 $ 22 Small ag & turf 24 21 16 Construction & forestry 8 10 12 Financial services 2,245 1,999 2,122 Corporate 159 82 62 Intercompany (431) (279) (272) Total $ 2,027 $ 1,854 $ 1,962 * Does not include finance rental income for equipment on operating leases. Interest expense Production & precision ag $ 122 $ 84 $ 76 Small ag & turf 105 87 111 Construction & forestry 72 46 61 Financial services 799 687 942 Corporate 390 368 329 Intercompany (426) (279) (272) Total $ 1,062 $ 993 $ 1,247 Depreciation* and amortization expense Production & precision ag $ 523 $ 495 $ 480 Small ag & turf 236 245 247 Construction & forestry 282 303 289 Financial services 1,050 1,140 1,227 Intercompany (196) (133) (125) Total $ 1,895 $ 2,050 $ 2,118 * Includes depreciation for equipment on operating leases. OPERATING SEGMENTS 2022 2021 2020 Equity in income (loss) of unconsolidated affiliates Small ag & turf $ 1 $ 2 $ 2 Construction & forestry 5 16 (52) Financial services 4 3 2 Total $ 10 $ 21 $ (48) Identifiable operating assets Production & precision ag $ 8,414 $ 7,021 $ 5,708 Small ag & turf 4,451 3,959 3,266 Construction & forestry 6,754 6,457 6,322 Financial services 58,864 51,624 48,719 Corporate 11,547 15,053 11,076 Total $ 90,030 $ 84,114 $ 75,091 Capital additions Production & precision ag $ 649 $ 458 $ 431 Small ag & turf 329 253 223 Construction & forestry 217 183 157 Financial services 2 3 4 Total $ 1,197 $ 897 $ 815 Investments in unconsolidated affiliates Production & precision ag $ 10 $ 1 Small ag & turf 84 $ 31 29 Construction & forestry 122 144 Financial services 23 22 19 Total $ 117 $ 175 $ 193

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Oct. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	28. SUBSEQUENT EVENTS On December 7, 2022, a quarterly dividend of $1.20 per share was declared at the Board of Directors meeting, payable on February 8, 2023 to stockholders of record on December 30, 2022. In December 2022, the Board of Directors authorized the repurchase of up to $18,000 million of additional common stock. This repurchase program will supplement the existing $8,000 million share repurchase program, which had $2,228 million remaining at October 30, 2022. Repurchases of the company’s common stock will be made at the company’s discretion in the open market.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS (Policies)	12 Months Ended
	Oct. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS
Consolidation, Policy	The consolidated financial statements represent the consolidation of all companies in which Deere & Company has a controlling interest. Certain VIEs are consolidated since the company is the primary beneficiary. The primary beneficiary has both the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIEs. The company consolidates certain VIEs related to retail note securitizations (see Note 12). Deere & Company records its investment in each unconsolidated affiliated company (20 to 50 percent ownership) at cost, plus or minus the company’s share of the profit or loss after acquisition and further reduced for any dividends (see Note 16). Other investments (less than 20 percent ownership) are recorded at cost.
Fiscal Period, Policy	The company uses a 52/53 week fiscal year ending on the last Sunday in the reporting period, which generally occurs near the end of October. An additional week is included in the fourth fiscal quarter every five or six years to realign the company’s fiscal quarters with the calendar. The fiscal year ends for 2022, 2021, and 2020 were October 30, 2022, October 31, 2021, and November 1, 2020, respectively. Fiscal years 2022, 2021, and 2020 contained 52 weeks. Unless otherwise stated, references to particular years or quarters refer to the company’s fiscal years and the associated periods in those fiscal years.
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. Actual results could differ from those estimates.
Revenue Recognition	Sales of equipment and service parts are recognized when the company transfers control of the good to the independent customer, which generally occurs upon shipment. In most situations, the independent customer is a dealer, which subsequently sells the equipment and service parts purchased from the company to a retail customer, who can finance the equipment with the financial services segment or another source of financing. In some situations, the company sells directly to a retail customer. The term “customer” includes both dealers and retail customers to whom the company makes direct sales. Prior to 2022, certain goods were shipped to dealers in Canada on a consignment basis under which the risks and rewards of ownership were not transferred to the dealer at the time the goods are shipped. Accordingly, sales for consigned goods were not recorded until a retail customer purchased the goods or the goods were otherwise removed from the dealer’s inventory. The dealer contract in Canada was changed such that all goods delivered after November 1, 2021 are delivered on terms, resulting in transfer of control and revenue recognition upon delivery of all goods. For certain goods delivered to Canadian dealers prior to November 1, 2021, the dealer consignment terms already in place remain in effect. As of October 30, 2022 and October 31, 2021, the remaining consigned inventory was $7 million and $150 million, respectively. Consignment terms are not prevalent in any other market. In limited instances, equipment is transferred to a customer or a financial institution with an obligation to repurchase the equipment for a specified amount, which is exercisable at the customer’s option. When the equipment is expected to be repurchased, those arrangements are accounted for as leases. No sale is recorded at the time of the equipment transfer, and the difference between sale price and the specified repurchase amount is recognized as revenue on a straight-line basis until the customer’s option expires. When this equipment is not expected to be repurchased, a sale is recorded with a return obligation. Under the terms of sales agreements with dealers, interest-free periods are determined based on the type of equipment sold and the time of year of the sale. These periods range from one Generally, no right of return exists on sales of equipment. Service parts and certain attachments returns are estimable and accrued at the time a sale is recognized. The estimated returns are recorded in “Other assets” for the inventory value of estimated returns, adjusted for restocking fees. The estimated dealer refund liability, adjusted for restocking fees, is recorded in “Accounts payable and accrued expenses.” The estimated returns are based on historical return rates, current dealer inventory levels, and current economic conditions. The company remanufactures used engines and components (cores) that are sold to dealers and retail customers for maintenance and repair parts. Revenue for remanufactured components is recognized using the same criteria as other parts sales. When a remanufactured part is sold, the company collects a deposit that is repaid if the customer returns a core that meets certain specifications within a defined time period. The deposit received from the customer is recognized as a liability in “Accounts payable and accrued expenses” and the used component that is expected to be returned is recognized in “Other assets” in the consolidated balance sheets. When a customer returns a core, the deposit is repaid, the liability reversed, and the returned core is recorded in inventory to be remanufactured and sold to another customer. If a core is not returned within the required time, the deposit is recognized as revenue in “Net sales,” and the estimated core return is recorded as an expense in “Cost of sales” in the statements of consolidated income. Certain equipment is sold with precision guidance, telematics, and other information gathering and analyzing capabilities. These technology solutions require hardware, software, and may include an obligation to provide services for a period of time. These solutions are mostly bundled with the sale of the equipment but can also be purchased or renewed separately. The revenue related to the hardware and embedded software is recognized at the time of the equipment sale and recorded in “Net sales” in the statements of consolidated income. The revenue for the future services is deferred and recognized over the service period. The deferred revenue is recorded as a contract liability in “Accounts payable and accrued expenses” in the consolidated balance sheets and is recognized in “Other income” with the associated expenses recognized in “Other operating expenses” in the statements of consolidated income. Financing revenue is recorded over the lives of the related receivables using the interest method. Deferred costs on the origination of financing receivables are recognized as a reduction in “Finance and interest income” over the expected lives of the receivables using the interest method. Income and deferred costs on the origination of operating leases are recognized on a straight-line basis over the scheduled lease terms in “Finance and interest income.” Sales Incentives At the time of the sale to a dealer, the company records an estimated cost of sales incentive programs as a reduction to the sales price. The estimated cost is based on historical data, announced and expected incentive programs, field inventory levels, and forecasted sales volumes. The final cost of these programs is determined at the end of the measurement period for volume-based incentives or when the dealer sells the equipment to a retail customer. Actual cost differences from the original cost estimate are recognized in “Net sales.”
Product Warranties	For most equipment and service parts sales, the company provides a standard warranty to provide assurance that the equipment will function as intended for a specified period. At the time a sale is recognized, the estimated future warranty costs are recorded. The company generally determines its total warranty liability by applying historical warranty 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 with consideration of current quality developments. The company also offers extended warranty arrangements for purchase at the customer’s option. The premiums for extended warranties are recognized in “Other income” in the statement of consolidated income primarily in proportion to the costs expected to be incurred over the contract period. The unamortized extended warranty premiums (deferred revenue) are recorded in “Accounts payable and accrued expenses” in the consolidated balance sheet (see Note 18).
Sales and Transaction Taxes	The company collects and remits taxes assessed by different governmental authorities that are both imposed on and concurrent with revenue producing transactions between the company and its customers. These taxes include sales, use, value-added, and some excise taxes. The company elected to exclude these taxes from the determination of the sales price (excluded from revenues).
Contract Costs	Incremental costs of obtaining an equipment revenue contract are recognized as an expense when incurred since the amortization period would be one year or less.
Advertising Costs	Advertising costs are charged to expense as incurred. This expense was $227 million in 2022, $212 million in 2021, and $196 million in 2020.
Depreciation and Amortization	Property and equipment, capitalized software, and other intangible assets are stated at cost less accumulated depreciation or amortization. These assets are depreciated over their estimated useful lives using the straight-line method. Equipment on operating leases is depreciated over the terms of the leases using the straight-line method. Property and equipment expenditures for new and revised products, increased capacity, and the replacement or major renewal of significant items are capitalized. Expenditures for maintenance, repairs, and minor renewals are charged to expense as incurred.
Securitization of Receivables	Certain financing receivables are periodically transferred to special purpose entities (SPEs) in securitization transactions (see Note 12). These securitizations qualify as collateral for secured borrowings and no gains or losses are recognized at the time of securitization. The receivables remain on the balance sheet and are classified as “Financing receivables securitized - net.” The company recognizes finance income over the lives of these receivables using the interest method.
Receivables and Allowances	All financing and trade receivables are reported on the balance sheet at outstanding principal and accrued interest, adjusted for any write-offs, the allowance for credit losses, and any unamortized deferred fees or costs on originated financing receivables. The allowance is a reduction to the receivable balances and the provision is recorded in “Selling, administrative and general expenses.” The allowance represents an estimate of the credit losses expected over the life of the receivable portfolio. The company measures expected credit losses on a collective basis when similar risk characteristics exist. Risk characteristics considered by the company include finance product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. The company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex retail customer receivable pools, while weighted average remaining maturity models are used for smaller and less complex retail customer receivable pools. Expected credit losses on wholesale receivables are based on historical loss rates, with consideration of current economic conditions and dealer financial risk. The modeled expected credit losses are adjusted based on reasonable and supportable forecasts, which may include economic indicators such as commodity prices, industry equipment sales, unemployment rates, and housing starts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary. Receivables are written-off to the allowance when the account is considered uncollectible (see Note 11).
Impairment of Long-Lived Assets, Goodwill, and Other Intangible Assets	The company evaluates the carrying value of long-lived assets (including equipment on operating leases, property and equipment, goodwill, and other intangible assets) when events or circumstances warrant such a review. Goodwill and unamortized intangible assets are tested for impairment annually at the end of the third quarter of each fiscal year, and more often if events or circumstances indicate a reduction in the fair value below the carrying value. Goodwill is allocated and reviewed for impairment by reporting unit. Goodwill is allocated to the reporting unit in which the business that created the goodwill resides. To test for goodwill impairment, the carrying value of each reporting unit is compared with its fair value. If the carrying value of the goodwill is considered impaired, the impairment is measured as the excess of the reporting unit’s carrying value over the fair value, with a limit of the goodwill allocated to that reporting unit. If the carrying value of the long-lived asset is considered impaired, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the asset (see Notes 4 and 25).
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 and foreign currency exposure at certain equipment operations units for sales incentive programs. All derivatives are recorded at fair value on the consolidated balance sheets. Cash collateral received or paid is not offset against the derivative fair values on the balance sheet. The cash flows from the derivative contracts are recorded in operating activities in the statements of consolidated cash flows. Each derivative is designated as a cash flow hedge, fair value hedge, or remains undesignated. Changes in the fair value of derivatives that are designated and effective as cash flow hedges are recorded in other comprehensive income (OCI) and reclassified to the income statement when the effects of the item being hedged are recognized in the income statement. Changes in the fair value of derivatives that are designated and effective as fair value hedges are recognized currently in net income. These changes are offset in net income by fair value changes related to the risk being hedged on the hedged item. Changes in the fair value of undesignated hedges are recognized currently in the income statement. 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 (see Note 26).
Foreign Currency Translation	The functional currencies for most of the company’s foreign operations are their respective local currencies. The assets and liabilities of these operations are translated into U.S. dollars at the end of the period exchange rates. The revenues and expenses are translated at weighted-average rates for the period. The gains or losses from these translations are recorded in OCI. Gains or losses from transactions denominated in a currency other than the functional currency of the subsidiary involved and foreign exchange components of derivative contracts are included in net income, with trade flow activity recorded in Cost of sales, sales incentive activity recorded in Net sales, and all other activity recorded in Other operating expenses. The pretax net gain (loss) for foreign exchange in 2022, 2021, and 2020 was ($175) million, ($134) million, and $18 million, respectively.
New Accounting Standards	The company closely monitors all Accounting Standard Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) and other authoritative guidance. The company adopted the following standards in 2022, none of which had a material effect on the company’s consolidated financial statements: Accounting Standards Updates No. 2019-12 — Simplifying the Accounting for Income Taxes, which amends ASC 740, Income Taxes No. 2020-08 — Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ASUs to be adopted in future periods are being evaluated and at this point are not expected to have a material impact on the company’s financial statements. The FASB issued ASU No. 2022-04, Liabilities – Supplier Finance Programs, which enhances the transparency about the use of supplier finance programs. Deere has not entered into any material supplier finance programs in connection with buying goods or services.
Cash and Cash Equivalents, Policy	The company considers investments with purchased maturities of three months or less to be cash equivalents. Substantially all of the company’s short-term borrowings, excluding the current maturities of finance lease obligations and long-term borrowings, mature or may require payment within three months or less.
Pension and Other Postretirement Plans	The company has several funded and unfunded defined benefit pension plans and other postretirement benefit (OPEB) plans, primarily health care and life insurance plans, covering its U.S. employees and employees in certain foreign countries. The company uses an October 31 measurement date. The spot yield curve approach is used to estimate the service and interest cost components of the net periodic pension and OPEB costs by applying the specific spot rates along the yield curve used to determine the benefit plan obligations to relevant projected cash outflows. The components of net periodic pension and OPEB cost excluding the service component are included in the line item “Other operating expenses” in the statements of consolidated income. The discount rate assumptions used to determine the pension and OPEB obligations for all periods presented were based on hypothetical AA yield curves represented by a series of annualized individual discount rates. These discount rates represent the rates at which the company’s benefit obligations could effectively be settled at the October 31 measurement dates. The mortality assumptions for the 2022 and 2021 U.S. benefit plan obligations used the most recent tables and scales issued by the Society of Actuaries at that time. The 2022 and 2021 mortality assumptions included an adjustment to the scale related to COVID for some plans. Actuarial gains and losses are recorded in accumulated other comprehensive income (loss). To the extent unamortized gains and losses exceed 10 percent of the higher of the market-related value of assets or the benefit obligation, the excess is amortized as a component of net periodic cost over the remaining service period of the active participants. For plans in which all or almost all of the plan’s participants are inactive, the amortization period is the remaining life expectancy of the inactive participants. The expected long-term rate of return on plan assets reflects management’s expectations of long-term average rates of return on funds invested to provide for benefits included in the projected benefit obligations. A market related value of plan assets is used to calculate the expected return on assets. The market related value recognizes changes in the fair value of pension plan assets systematically over a five-year period. The market related value of the health care plan assets equals fair value. The expected return is based on the outlook for inflation and for returns in multiple asset classes, while also considering historical returns, asset allocation, and investment strategy. The company’s approach has emphasized the long-term nature of the return estimate such that the return assumption is not changed significantly unless there are fundamental changes in capital markets that affect the company’s expectations for returns over an extended period of time (i.e., 10 to 20 years ).
Unremitted Earnings in Foreign Investment, Policy	At October 30, 2022, undistributed profits of subsidiaries outside the U.S. of approximately $5,043 million are considered indefinitely reinvested. Determination of the amount of a foreign withholding tax liability on these unremitted earnings is not practicable.
Marketable Securities, Policy	Realized gains or losses from the sales of marketable securities are based on the specific identification method.
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 from the customer 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 resumed when the receivable becomes contractually current and collections are reasonably assured.
Troubled Debt Restructuring, Policy	A troubled debt restructuring is a significant 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	A majority of inventory owned by Deere & Company and its U.S. equipment subsidiaries are valued at cost, on the “last-in, first-out” (LIFO) basis. Remaining inventories are generally valued at the lower of cost, on the “first-in, first-out” (FIFO) basis, or net realizable value.
Extended Product Warranty, Policy	The premiums for extended warranties are recognized in “Other income” in the statements of consolidated income in proportion to the costs expected to be incurred over the contract period.
Stock Option and Restricted Stock Awards, Policy	The company issues stock options and restricted stock unit awards to key employees under plans approved by stockholders. Restricted stock unit awards consist of service-based and performance /service-based awards. Restricted stock units are also issued to nonemployee directors for their services as directors under a plan approved by stockholders.The fair value of stock options and service-based restricted stock units, which is based on the closing price of the company’s common stock on the grant date, are expensed over the shorter of the award vesting period or the employee’s retirement eligibility period. Performance/service-based units expense, which are based on the fair value at the grant date excluding dividends, are recognized over the employees’ requisite service period and adjusted quarterly for the probable number of shares to be awarded. The fair value of each stock option award was estimated on the date of grant using a binomial lattice option valuation model. The company recognizes the effect of award forfeitures as an adjustment to compensation expense in the period the forfeiture occurs.
Lessee Lease, Policy	The company recognizes on the balance sheets a lease liability and a right of use asset for leases with a term greater than one year 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 not readily determinable. The company determines the incremental borrowing rate for each lease based 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 one year 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 extend the lease term from one to ten years . Options that the company is reasonably certain to exercise are included in the lease term.
Lease and Non-lease Components, Policy	The company has elected to combine lease and nonlease 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 one year 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 change. 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.
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.

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	12 Months Ended
ACQUISITIONS AND DISPOSITIONS (Tables)	Oct. 30, 2022
Kreisel
Preliminary Fair Values Assigned to Assets and Liabilities as of the Acquisition Date	The preliminary fair values assigned to the assets and liabilities of the acquired entity in millions of dollars, which is based on information as of the acquisition date and available at October 30, 2022 follows: February 2022 Trade accounts and notes receivable $ 2 Other receivables 11 Inventories 11 Property and equipment 11 Goodwill 218 Other intangible assets 178 Other assets 6 Total assets $ 437 Accounts payable and accrued expenses $ 26 Deferred income taxes 39 Redeemable noncontrolling interest $ 96
Excavator Factories
Total Invested Capital	The total invested capital is as follows in millions of dollars: March 2022 Cash consideration for factories $ 205 Cash consideration for license agreement 70 Deferred consideration 271 Total purchase price consideration 546 Less: Cash obtained (187) Less: Settlement of intercompany balances (113) Net purchase price consideration 246 Fair value of previously held equity investment 444 Total invested capital $ 690
Preliminary Fair Values Assigned to Assets and Liabilities as of the Acquisition Date	The preliminary fair values assigned to the assets and liabilities of the acquired factories in millions of dollars, which are based on information as of the acquisition date and available at October 30, 2022, follow: March 2022 Other receivables $ 29 Inventories 286 Property and equipment 180 Goodwill 529 Other intangible assets 70 Deferred income taxes 56 Other assets 3 Total assets $ 1,153 Accounts payable and accrued expenses $ 300 Long-term borrowings 163 Total liabilities $ 463
Other Acquisitions
Preliminary Fair Values Assigned to Assets and Liabilities as of the Acquisition Date	The preliminary asset and liability fair values at the respective acquisition dates follow in millions of dollars: October 2022 Trade accounts and notes receivable $ 8 Inventories 8 Property and equipment 4 Goodwill 53 Other intangible assets 21 Other assets 60 Total assets $ 154 Accounts payable and accrued expenses $ 6 Deferred income taxes 5 Total liabilities $ 11 Redeemable noncontrolling interest $ 9
Bear Flag
Preliminary Fair Values Assigned to Assets and Liabilities as of the Acquisition Date	The asset and liability fair values at the acquisition date in millions of dollars follow: August 2021 Property and equipment $ 1 Goodwill 189 Other intangible assets 54 Total assets $ 244 Accounts payable and accrued expenses $ 1 Deferred income taxes 18 Total liabilities $ 19
Unimil
Preliminary Fair Values Assigned to Assets and Liabilities as of the Acquisition Date	The asset and liability fair values at the acquisition date in millions of dollars follow: September 2020 Trade accounts and notes receivable $ 5 Other receivables 2 Inventories 10 Property and equipment 22 Goodwill 28 Other intangible assets 13 Total assets $ 80 Accounts payable and accrued expenses $ 5 Deferred income taxes 9 Total liabilities $ 14

SPECIAL ITEMS (Tables)

SPECIAL ITEMS (Tables)	12 Months Ended
SPECIAL ITEMS (Tables)	Oct. 30, 2022
Schedule of Special Items	A summary of the reserves, impairments, and voluntary-separation costs recorded in 2022 follows in millions of dollars. See Note 25 for fair value measurement information. PPA SAT CF FS Total Inventory reserve – Cost of sales $ 14 $ 2 $ 3 $ 19 Fixed asset impairment – Cost of sales 30 11 41 Intangible asset impairment – Cost of sales 28 28 Allowance for credit losses – Financing receivables – SA&G expenses $ 153 153 Voluntary-separation program: – Cost of sales 3 3 – SA&G expenses 4 6 1 11 Intercompany agreement 82 9 62 (153) Total Russia/Ukraine events pretax expense $ 133 $ 11 $ 110 $ 1 255 Net tax impact (40) Total Russia/Ukraine events after-tax expense $ 215 Summary of 2022 and 2021 Special Items The following table summarizes the operating profit impact, in millions of dollars, of the special items recorded in 2022 and 2021: PPA SAT CF FS Total 2022 Expense (benefit) Gain on remeasurement of equity investment – Other income (Note 3) $ (326) $ (326) Total Russia/Ukraine events pretax expense $ 133 $ 11 110 $ 1 255 UAW ratification bonus – Cost of sales 53 9 28 90 Total expense (benefit) 186 20 (188) 1 19 2021 Expense (benefit) Gain on sale – Other income (27) (27) Long-lived asset impairments – Cost of sales 5 3 42 50 Brazil indirect tax – Cost of sales (53) (5) (58) Total expense (benefit) (48) (24) 37 (35) Year over year change $ 234 $ 44 $ (225) $ 1 $ 54 2020 Special Items In 2020, the company closed a factory that produced small agricultural equipment in China, recognized impairments in the fixed assets in an asphalt plant factory in Germany, a construction equipment factory in Brazil, and other international locations, and recorded impairments of equipment on operating leases and matured lease inventory, as well as impairments of the investment in certain affiliate companies. A summary of the factory closure and costs related to impairments follows in millions of dollars. See Note 25 for a description of the valuation methodologies used to measure these impairments. PPA SAT CF FS Total Factory closure – Cost of sales $ 20 $ 20 Long-lived asset impairments: Cost of sales 13 $ 80 93 SA&G expenses $ 2 2 4 Other operating expenses $ 32 32 Affiliate company impairments – Equity in loss of unconsolidated affiliates 50 50 Total pretax impairments and closure costs $ 2 $ 35 $ 130 $ 32 $ 199
2020 Employee-Separation Programs
Schedule of Employee-Separation Programs Pretax Expenses	The programs’ total pretax expenses in 2020 were as follows in millions of dollars: PPA SAT CF FS Total Cost of sales $ 51 $ 31 $ 22 $ 104 Research and development expenses 29 18 8 55 Selling, administrative and general expenses 53 43 24 $ 15 135 Total operating profit impact $ 133 $ 92 $ 54 $ 15 294 Non-operating profit impact* 41 Total pretax expense $ 335 * Relates primarily to non-cash charges of $34 million from curtailments in certain OPEB plans (see Note 7) and other corporate expenses, both of which were recorded outside of operating profit . Approximately $6 million of the curtailment charge was recorded by financial services.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
REVENUE RECOGNITION (Tables)	Oct. 30, 2022
REVENUE RECOGNITION
Schedule of Revenue Recognition	The company’s net sales and revenues by primary geographic market, major product line, and timing of revenue recognition in millions of dollars follow: PPA SAT CF FS Total 2022 Primary geographic markets: United States $ 10,975 $ 7,741 $ 7,103 $ 2,419 $ 28,238 Canada 1,387 676 1,238 601 3,902 Western Europe 2,188 2,478 1,576 102 6,344 Central Europe and CIS 1,207 488 545 49 2,289 Latin America 4,991 578 1,467 303 7,339 Asia, Africa, Australia, New Zealand, and Middle East 1,570 1,608 1,136 151 4,465 Total $ 22,318 $ 13,569 $ 13,065 $ 3,625 $ 52,577 Major product lines: Production agriculture $ 21,685 $ 21,685 Small agriculture $ 10,027 10,027 Turf 3,027 3,027 Construction $ 5,864 5,864 Compact construction 1,667 1,667 Roadbuilding 3,441 3,441 Forestry 1,308 1,308 Financial products 60 52 32 $ 3,625 3,769 Other 573 463 753 1,789 Total $ 22,318 $ 13,569 $ 13,065 $ 3,625 $ 52,577 Revenue recognized: At a point in time $ 22,178 $ 13,493 $ 12,980 $ 105 $ 48,756 Over time 140 76 85 3,520 3,821 Total $ 22,318 $ 13,569 $ 13,065 $ 3,625 $ 52,577 PPA SAT CF FS Total 2021 Primary geographic markets: United States $ 8,223 $ 6,505 $ 5,697 $ 2,389 $ 22,814 Canada 853 498 1,047 617 3,015 Western Europe 2,086 2,433 1,807 103 6,429 Central Europe and CIS 1,322 475 828 39 2,664 Latin America 2,916 456 903 247 4,522 Asia, Africa, Australia, New Zealand, and Middle East 1,417 1,679 1,331 153 4,580 Total $ 16,817 $ 12,046 $ 11,613 $ 3,548 $ 44,024 Major product lines: Production agriculture $ 16,248 $ 16,248 Small agriculture $ 8,619 8,619 Turf 2,853 2,853 Construction $ 4,684 4,684 Compact construction 1,489 1,489 Roadbuilding 3,749 3,749 Forestry 1,280 1,280 Financial products 55 46 20 $ 3,548 3,669 Other 514 528 391 1,433 Total $ 16,817 $ 12,046 $ 11,613 $ 3,548 $ 44,024 Revenue recognized: At a point in time $ 16,659 $ 11,969 $ 11,522 $ 105 $ 40,255 Over time 158 77 91 3,443 3,769 Total $ 16,817 $ 12,046 $ 11,613 $ 3,548 $ 44,024 PPA SAT CF FS Total 2020 Primary geographic markets: United States $ 6,889 $ 5,059 $ 4,548 $ 2,500 $ 18,996 Canada 640 350 802 598 2,390 Western Europe 1,827 1,937 1,479 90 5,333 Central Europe and CIS 898 493 646 35 2,072 Latin America 1,902 334 553 234 3,023 Asia, Africa, Australia, New Zealand, and Middle East 1,119 1,322 1,153 132 3,726 Total $ 13,275 $ 9,495 $ 9,181 $ 3,589 $ 35,540 Major product lines: Production agriculture $ 12,662 $ 12,662 Small agriculture $ 6,827 6,827 Turf 2,390 2,390 Construction $ 3,521 3,521 Compact construction 1,269 1,269 Roadbuilding 2,924 2,924 Forestry 1,100 1,100 Financial products 69 37 25 $ 3,589 3,720 Other 544 241 342 1,127 Total $ 13,275 $ 9,495 $ 9,181 $ 3,589 $ 35,540 Revenue recognized: At a point in time $ 13,106 $ 9,439 $ 9,071 $ 106 $ 31,722 Over time 169 56 110 3,483 3,818 Total $ 13,275 $ 9,495 $ 9,181 $ 3,589 $ 35,540
Schedule of Unsatisfied Performance Obligations, Estimated Revenue to be Recognized by Fiscal Year	The total amount of unsatisfied performance obligations for contracts with an original duration greater than one year and the estimated revenue to be recognized by fiscal year at October 30, 2022 follows in millions of dollars: Year Net Sales and Revenues 2023 $ 336 2024 319 2025 230 2026 131 2027 84 Later years 124 Total $ 1,224

CASH FLOW INFORMATION (Tables)

CASH FLOW INFORMATION (Tables)	12 Months Ended
CASH FLOW INFORMATION (Tables)	Oct. 30, 2022
CASH FLOW INFORMATION
Cash Payments for Interest and Income Taxes	Supplemental cash flow information follows in millions of dollars: 2022 2021 2020 Cash paid for interest $ 1,101 $ 1,041 $ 1,279 Cash paid for income taxes 1,940 2,075 1,069 Inventory transferred to equipment on operating leases 167 662 614 Accounts payable related to purchases of property and equipment 165 121 98

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	12 Months Ended
PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	Oct. 30, 2022
PENSION AND OTHER POSTRETIREMENT BENEFITS
Schedule of Components of Net Periodic Pension and OPEB Cost	The components of net periodic pension cost and the assumptions related to the cost consisted of the following in millions of dollars and in percentages: 2022 2021 2020 Pensions Service cost $ 349 $ 332 $ 321 Interest cost 330 276 347 Expected return on plan assets (726) (799) (819) Amortization of actuarial loss 132 259 256 Amortization of prior service cost 34 12 13 Settlements/curtailments 45 21 25 Net cost $ 164 $ 101 $ 143 Weighted-average assumptions Discount rates - service cost 3.0% 2.5% 2.9% Discount rates - interest cost 2.6% 2.1% 2.7% Rate of compensation increase 3.7% 3.7% 3.8% Expected long-term rates of return 5.1% 6.0% 6.4% Interest crediting rate - U.S. cash balance plans 2.1% 1.7% 2.1% The components of net periodic OPEB cost and the assumptions related to the cost consisted of the following in millions of dollars and in percentages: 2022 2021 2020 OPEB Service cost $ 45 $ 48 $ 49 Interest cost 99 102 140 Expected return on plan assets (110) (77) (50) Amortization of actuarial (gain) loss (18) 27 29 Amortization of prior service credit (4) (4) (4) Curtailments 34 Net cost $ 12 $ 96 $ 198 Weighted-average assumptions Discount rates - service cost 3.6% 3.4% 3.7% Discount rates - interest cost 2.3% 2.1% 2.7% Expected long-term rates of return 4.4% 5.4% 5.7%
Schedule of Benefit Plan Obligations, Funded Status and the Assumptions Related to Obligations	The benefit plan obligations, funded status, and the assumptions related to the obligations at October 30, 2022 and October 31, 2021 in millions of dollars follow: Pensions OPEB 2022 2021 2022 2021 Change in benefit obligations Beginning of year balance $ (14,525) $ (15,021) $ (4,930) $ (5,410) Service cost (349) (332) (45) (48) Interest cost (330) (276) (99) (102) Actuarial gain 4,122 373 1,492 381 Prior service cost (505) (12) Benefits paid 757 755 282 290 Health care subsidies (33) (29) Settlements/curtailments 1 Foreign exchange and other 301 (25) 4 (12) End of year balance (10,529) (14,525) (3,341) (4,930) Change in plan assets (fair value) Beginning of year balance 17,190 14,574 1,755 1,518 Actual return on plan assets (3,070) 3,249 (495) 367 Employer contribution 85 101 1,155 157 Benefits paid (757) (755) (282) (290) Foreign exchange and other (229) 21 3 3 End of year balance 13,219 17,190 2,136 1,755 Funded status $ 2,690 $ 2,665 $ (1,205) $ (3,175) Weighted-average assumptions Discount rates 5.4% 2.7% 5.6% 2.8% Rate of compensation increase 3.8% 3.7% Interest crediting rate - U.S. cash balance plans 4.4% 1.8%
Schedule of Weighted-Average Health Care Cost Trend Rates	The weighted-average annual rates of increase in the per capita cost of covered health care benefits (the health care cost trend rates) for medical and prescription drug claims for pre- and post-65 age groups used to determine the October 30, 2022 and October 31, 2021 accumulated postretirement benefit obligations were as follows: 2022 2021 Initial year 0.0% (2022 to 2023) 2.1% (2021 to 2022) Second year 12.6% (2023 to 2024) 8.4% (2022 to 2023) Ultimate 4.7% ( 2032 to 2033 ) 4.7% ( 2028 to 2029 ) A decrease in Medicare Advantage premiums impacted the weighted-average annual rates of increase for the initial years in 2022 and 2021 .
Schedule of Amounts Recognized in Balance Sheet and Accumulated Other Comprehensive Income - Pretax	The amounts recognized at October 30, 2022 and October 31, 2021 in millions of dollars consisted of the following: Pensions OPEB 2022 2021 2022 2021 Amounts recognized in balance sheet Noncurrent asset $ 3,223 $ 3,601 $ 507 Current liability (42) (51) (39) $ (36) Noncurrent liability (491) (885) (1,673) (3,139) Total $ 2,690 $ 2,665 $ (1,205) $ (3,175) Amounts recognized in accumulated other comprehensive income – pretax Net actuarial (gain) loss $ 926 $ 1,376 $ (820) $ 49 Prior service cost (credit) 446 9 (4) (20) Total $ 1,372 $ 1,385 $ (824) $ 29
Schedule of Information Related to Pension Plans Benefit Obligations	Information related to pension plans benefit obligations at October 30, 2022 and October 31, 2021 in millions of dollars follows: 2022 2021 Total accumulated benefit obligations for all plans $ 10,068 $ 13,787 Plans with accumulated benefit obligation exceeding fair value of plan assets: Accumulated benefit obligations 1,116 2,012 Fair value of plan assets 672 1,207 Plans with projected benefit obligation exceeding fair value of plan assets: Projected benefit obligations 1,225 2,163 Fair value of plan assets 692 1,227
Schedule of Future Benefits Expected to be Paid from the Benefit Plans	The expected future benefit payments at October 30, 2022 were as follows in millions of dollars: Pensions OPEB* 2023 $ 739 $ 246 2024 730 248 2025 729 250 2026 728 252 2027 721 253 2028 to 2032 3,589 1,274 * Net of prescription drug group benefit subsidy under Medicare Part D.
Fair Values of Pension Plan and Health Care Assets	The fair values of the pension plan assets at October 30, 2022 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 338 $ 283 $ 55 Equity: U.S. equity securities 311 290 21 International equity securities and funds 196 195 1 Fixed Income: Government and agency securities 1,296 1,053 243 Corporate debt securities 4,587 4,587 Mortgage-backed securities 213 213 Other investments 49 31 18 Derivative contracts - assets 92 54 38 Derivative contracts - liabilities (209) (106) (103) Receivables, prepaids, and payables (207) (207) Securities lending collateral 684 684 Securities lending liability (684) (684) Securities sold short (64) (58) (6) Total of Level 1 and Level 2 assets 6,602 $ 1,535 $ 5,067 Investments at net asset value: Short-term investments 633 U.S. equity funds 54 International equity funds 125 Fixed income funds 1,736 Real estate funds 592 Hedge funds 569 Private equity 1,322 Venture capital 1,553 Other investments 33 Total net assets $ 13,219 The fair values of the health care assets at October 30, 2022 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 79 $ 79 Fixed Income: Government and agency securities 629 597 $ 32 Corporate debt securities 516 516 Mortgage-backed securities 83 83 Other (4) (7) 3 Securities lending collateral 98 98 Securities lending liability (98) (98) Total of Level 1 and Level 2 assets 1,303 $ 669 $ 634 Investments at net asset value: U.S. equity funds 40 International equity funds 22 Fixed income funds 347 Real estate funds 140 Hedge funds 188 Private equity 41 Venture capital 48 Other investments 7 Total net assets $ 2,136 The fair values of the pension plan assets at October 31, 2021 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 378 $ 355 $ 23 Equity: U.S. equity securities 1,151 1,123 28 International equity securities and funds 951 931 20 Fixed Income: Government and agency securities 1,475 1,159 316 Corporate debt securities 4,841 4,841 Mortgage-backed securities 144 144 Real estate investment trusts 62 55 7 Derivative contracts - assets 116 37 79 Derivative contracts - liabilities (75) (15) (60) Receivables, payables, and other (155) (177) 22 Securities lending collateral 982 107 875 Securities lending liability (982) (107) (875) Securities sold short (139) (128) (11) Total of Level 1 and Level 2 assets 8,749 $ 3,340 $ 5,409 Investments at net asset value: Short-term investments 815 U.S. equity funds 796 International equity funds 528 Fixed income funds 1,701 Real estate funds 566 Hedge funds 751 Private equity 1,385 Venture capital 1,537 Other investments 362 Total net assets $ 17,190 The fair values of the health care assets at October 31, 2021 follow in millions of dollars: Total Level 1 Level 2 Cash and short-term investments $ 55 $ 55 Equity securities and funds 30 29 $ 1 Fixed Income: Government and agency securities 243 215 28 Corporate debt securities 307 307 Mortgage-backed securities 10 10 Securities lending collateral 64 20 44 Securities lending liability (64) (20) (44) Securities sold short (3) (3) Total of Level 1 and Level 2 assets 642 $ 296 $ 346 Investments at net asset value: Short-term investments 20 U.S. equity funds 619 International equity funds 358 Fixed income funds 18 Real estate funds 42 Hedge funds 13 Private equity 18 Venture capital 20 Other investments 5 Total net assets $ 1,755

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Oct. 30, 2022
INCOME TAXES
Provision for Income Taxes by Taxing Jurisdiction and by Significant Component	The provision for income taxes by taxing jurisdiction and by significant component consisted of the following in millions of dollars: 2022 2021 2020 Current: U.S.: Federal $ 514 $ 899 $ 400 State 136 183 53 Foreign 1,423 1,017 640 Total current 2,073 2,099 1,093 Deferred: U.S.: Federal 29 (303) (68) State 24 (45) 9 Foreign (119) (93) 48 Total deferred (66) (441) (11) Provision for income taxes $ 2,007 $ 1,658 $ 1,082
Comparison of Statutory and Effective Income Tax Provision	A comparison of the statutory and effective income tax provision and reasons for related differences in millions of dollars follow: 2022 2021 2020 U.S. federal income tax provision at the U.S. statutory rate ( 21 percent) $ 1,917 $ 1,597 $ 815 State and local taxes, net of federal effect 133 119 59 Other impacts of Tax Cuts and Jobs Act of 2017 (29) (85) 39 Rate differential on foreign subsidiaries 121 148 106 Research and business tax credits (65) (48) (50) Excess tax benefits on equity compensation (55) (79) (87) Valuation allowances 179 18 139 Other - net (194) (12) 61 Provision for income taxes $ 2,007 $ 1,658 $ 1,082
Analysis of the Deferred Income Tax Assets and Liabilities	An analysis of the deferred income tax assets and liabilities at October 30, 2022 and October 31, 2021 in millions of dollars follows: 2022 2021 Deferred Deferred Deferred Deferred Tax Tax Tax Tax Assets Liabilities Assets Liabilities OPEB - net $ 213 $ 676 Lessor lease transactions $ 310 $ 399 Tax loss and tax credit carryforwards 1,405 1,542 Accrual for sales allowances 579 466 Tax over book depreciation 174 154 Goodwill and other intangible assets 178 337 Pension - net 532 448 Allowance for credit losses 90 78 Accrual for employee benefits 304 298 Share-based compensation 41 53 Deferred compensation 44 49 Lessee lease transactions 62 57 46 43 Unearned revenue 154 172 Other items 487 254 333 341 Less valuation allowances (1,545) (1,530) Deferred income tax assets and liabilities $ 1,834 $ 1,505 $ 2,183 $ 1,722
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the total amounts of unrecognized tax benefits at October 30, 2022, October 31, 2021, and November 1, 2020 in millions of dollars follows: 2022 2021 2020 Beginning of year balance $ 811 $ 668 $ 553 Increases to tax positions taken during the current year 98 81 63 Increases to tax positions taken during prior years 29 100 95 Decreases to tax positions taken during prior years (18) (23) (30) Decreases due to lapse of statute of limitations (7) (12) (9) Other 2 (3) (1) Foreign exchange (24) (3) End of year balance $ 891 $ 811 $ 668

OTHER INCOME AND OTHER OPERAT_2

OTHER INCOME AND OTHER OPERATING EXPENSES (Tables)	12 Months Ended
OTHER INCOME AND OTHER OPERATING EXPENSES (Tables)	Oct. 30, 2022
OTHER INCOME AND OTHER OPERATING EXPENSES
Major Components of Other Income and Other Operating Expenses	The major components of other income and other operating expenses consisted of the following in millions of dollars: 2022 2021 2020 Other income Revenues from services $ 283 $ 322 $ 314 Insurance premiums and fees earned* 289 227 223 Trademark licensing income 89 87 73 Operating lease disposition gains 72 65 Gain on previously held equity investment 326 Investment income 14 41 26 Other 222 249 182 Total $ 1,295 $ 991 $ 818 Other operating expenses Depreciation of equipment on operating leases $ 827 $ 983 $ 1,083 Insurance claims and expenses* 267 235 231 Cost of services 214 202 188 Operating lease disposition losses and impairments 52 Pension and OPEB benefit, excluding service cost component (218) (183) (31) Foreign exchange loss 132 59 4 Other 53 47 85 Total $ 1,275 $ 1,343 $ 1,612 * Primarily related to extended warranties (s ee Note 20).

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
MARKETABLE SECURITIES (Tables)	Oct. 30, 2022
MARKETABLE SECURITIES
Amortized Cost and Fair Value of Marketable Securities	The amortized cost and fair value of marketable securities at October 30, 2022 and October 31, 2021 in millions of dollars follow: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value 2022 U.S. equity fund $ 70 International equity securities 3 Total equity securities 73 U.S. government debt securities $ 220 $ 37 183 Municipal debt securities 74 11 63 Corporate debt securities 236 36 200 International debt securities 64 4 60 Mortgage-backed securities* 186 31 155 Total debt securities $ 780 $ 119 661 Marketable securities $ 734 2021 U.S. equity fund $ 75 International equity securities 2 Total equity securities 77 U.S. government debt securities $ 196 $ 5 $ 3 198 Municipal debt securities 69 4 73 Corporate debt securities 215 11 2 224 International debt securities 5 3 2 Mortgage-backed securities* 152 3 1 154 Total debt securities $ 637 $ 23 $ 9 651 Marketable securities $ 728 * Primarily issued by U.S. government sponsored enterprises.
Unrealized Gains on Equity Securities	Unrealized gain (loss) on equity securities during 2022 and 2021 in millions of dollars follow: 2022 2021 Net gain (loss) recognized on equity securities $ (11) $ 24 Less: Net gain on equity securities sold 2 Unrealized gain (loss) on equity securities $ (11) $ 22
Contractual Maturities of Debt Securities	The contractual maturities of debt securities at October 30, 2022 in millions of dollars follow: Amortized Fair Cost Value Due in one year or less $ 81 $ 81 Due after one through five years 105 96 Due after five through 10 years 196 166 Due after 10 years 212 163 Mortgage-backed securities 186 155 Debt securities $ 780 $ 661

RECEIVABLES (Tables)

RECEIVABLES (Tables)	12 Months Ended
RECEIVABLES (Tables)	Oct. 30, 2022
Accounts, Notes, Loans and Financing Receivable
Schedule of Financing Receivable Installments	Financing receivable installments, including unearned finance income, at October 30, 2022 and October 31, 2021 were scheduled as follows in millions of dollars: 2022 2021 Unrestricted/Securitized Unrestricted/Securitized Due in months: 0 – 12 $ 17,032 $ 2,226 $ 15,205 $ 1,904 13 – 24 7,975 1,667 7,412 1,323 25 – 36 5,987 1,209 5,629 885 37 – 48 4,297 709 3,991 478 49 – 60 2,559 227 2,397 150 Thereafter 809 9 772 13 Total $ 38,659 $ 6,047 $ 35,406 $ 4,753
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 follows in millions of dollars: Retail Notes Revolving & Financing Charge Wholesale Leases Accounts Receivables Total 2022 Allowance: Beginning of year balance $ 138 $ 21 $ 7 $ 166 Provision (credit) 197 (2) (3) 192 Write-offs (61) (27) (88) Recoveries 22 30 52 Translation adjustments 3 3 End of year balance* $ 299 $ 22 $ 4 $ 325 Financing receivables: End of year balance $ 35,367 $ 4,255 $ 3,273 $ 42,895 2021 Allowance: Beginning of year balance $ 133 $ 43 $ 8 $ 184 ASU No. 2016-13 44 (13) 31 Provision (credit) (17) (1) (18) Write-offs (60) (28) (88) Recoveries 20 36 56 Translation adjustments 1 1 End of year balance* $ 138 $ 21 $ 7 $ 166 Financing receivables: End of year balance $ 32,233 $ 3,825 $ 2,566 $ 38,624 2020 Allowance: Beginning of year balance $ 107 $ 40 $ 3 $ 150 Provision 81 26 3 110 Write-offs (65) (53) (118) Recoveries 17 30 47 Translation adjustments (7) 2 (5) End of year balance* $ 133 $ 43 $ 8 $ 184 Financing receivables: End of year balance $ 27,206 $ 3,902 $ 3,529 $ 34,637 * Individual allowances were not significant.
Financing Receivable Analysis Metrics	Financing receivable analysis metrics follow in millions of dollars: 2022 2021 Percent of the overall financing receivable portfolio: Past-due amounts 1.07 1.09 Non-performing .83 .96 Allowance for credit losses .76 .43 Deposits held as credit enhancements $ 158 $ 154
Schedule of Troubled Debt Restructuring Modifications	The following table includes receivable contracts identified as troubled debt restructurings: 2022 2021 2020 Number of receivable contracts 276 397 574 Pre-modification balance in millions $ 12 $ 18 $ 108 Post modification balance in millions 10 17 95
Schedule of Other Receivables	Other receivables at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Taxes receivable $ 1,450 $ 1,436 Collateral on derivatives 709 13 Receivables from unconsolidated affiliates 27 Other 333 289 Other receivables $ 2,492 $ 1,765
Retail Customer Receivables
Accounts, Notes, Loans and Financing Receivable
Credit Quality Analysis	The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows in millions of dollars: October 30, 2022 2022 2021 2020 2019 Retail customer receivables: Agriculture and turf Current $ 13,500 $ 7,984 $ 4,091 $ 1,875 30-59 days past due 46 63 36 17 60-89 days past due 14 25 13 6 90+ days past due 1 Non-performing 27 60 44 28 Construction and forestry Current 2,964 1,974 842 292 30-59 days past due 53 52 23 9 60-89 days past due 19 16 7 3 90+ days past due 1 4 1 3 Non-performing 25 61 34 19 Total retail customer receivables $ 16,650 $ 10,239 $ 5,091 $ 2,252 October 30, 2022 2018 Prior Years Revolving Charge Accounts Total Retail customer receivables: Agriculture and turf Current $ 785 $ 200 $ 4,111 $ 32,546 30-59 days past due 7 3 19 191 60-89 days past due 2 1 5 66 90+ days past due 1 Non-performing 18 19 8 204 Construction and forestry Current 73 12 108 6,265 30-59 days past due 2 1 3 143 60-89 days past due 1 1 47 90+ days past due 1 10 Non-performing 7 3 149 Total retail customer receivables $ 895 $ 240 $ 4,255 $ 39,622 October 31, 2021 2021 2020 2019 2018 Retail customer receivables: Agriculture and turf Current $ 12,877 $ 6,676 $ 3,463 $ 1,738 30-59 days past due 43 53 29 16 60-89 days past due 16 23 12 6 90+ days past due 1 Non-performing 23 57 53 32 Construction and forestry Current 3,122 1,575 754 273 30-59 days past due 50 40 27 7 60-89 days past due 15 11 9 6 90+ days past due 1 2 3 3 Non-performing 26 56 39 17 Total retail customer receivables $ 16,173 $ 8,494 $ 4,389 $ 2,098 October 31, 2021 2017 Prior Years Revolving Charge Accounts Total Retail customer receivables: Agriculture and turf Current $ 728 $ 211 $ 3,704 $ 29,397 30-59 days past due 7 3 14 165 60-89 days past due 3 1 4 65 90+ days past due 1 Non-performing 17 23 7 212 Construction and forestry Current 57 7 92 5,880 30-59 days past due 4 1 3 132 60-89 days past due 1 1 43 90+ days past due 4 2 15 Non-performing 7 3 148 Total retail customer receivables $ 828 $ 251 $ 3,825 $ 36,058
Wholesale Receivables
Accounts, Notes, Loans and Financing Receivable
Credit Quality Analysis	The credit quality analysis of wholesale receivables by year of origination was as follows in millions of dollars: October 30, 2022 2022 2021 2020 2019 Wholesale receivables: Agriculture and turf Current $ 387 $ 64 $ 27 $ 4 30+ days past due Non-performing 1 Construction and forestry Current 7 29 2 1 30+ days past due Non-performing Total wholesale receivables $ 394 $ 93 $ 29 $ 6 October 30, 2022 2018 Prior Years Revolving Total Wholesale receivables: Agriculture and turf Current $ 2 $ 2,371 $ 2,855 30+ days past due Non-performing 1 Construction and forestry Current 1 377 417 30+ days past due Non-performing Total wholesale receivables $ 3 $ 2,748 $ 3,273 October 31, 2021 2021 2020 2019 2018 Wholesale receivables: Agriculture and turf Current $ 346 $ 80 $ 22 $ 9 30+ days past due Non-performing 12 Construction and forestry Current 41 7 7 30+ days past due Non-performing Total wholesale receivables $ 387 $ 87 $ 41 $ 9 October 31, 2021 2017 Prior Years Revolving Total Wholesale receivables: Agriculture and turf Current $ 3 $ 1,696 $ 2,156 30+ days past due Non-performing 12 Construction and forestry Current 1 $ 1 340 397 30+ days past due 1 1 Non-performing Total wholesale receivables $ 4 $ 2 $ 2,036 $ 2,566
Trade Accounts and Notes Receivable
Accounts, Notes, Loans and Financing Receivable
Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment	Trade accounts and notes receivable at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Trade accounts and notes receivable: Production & precision ag $ 2,397 $ 1,204 Small ag & turf 2,065 1,683 Construction & forestry 1,948 1,321 Trade accounts and notes receivable – net $ 6,410 $ 4,208
Schedule of Allowance for Credit Losses on Trade Accounts and Notes Receivable	The allowance for credit losses on trade accounts and notes receivable at October 30, 2022, October 31, 2021, and November 1, 2020, as well as the related activity, in millions of dollars follow: 2022 2021 2020 Beginning of year balance $ 41 $ 39 $ 72 ASU No. 2016-13 (2) Provision 1 10 Write-offs (5) (7) (23) Recoveries 1 Translation adjustments (1) 1 (11) End of year balance $ 36 $ 41 $ 39
Financing Receivables
Accounts, Notes, Loans and Financing Receivable
Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment	Financing receivables at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Unrestricted/Securitized Unrestricted/Securitized Retail notes: Agriculture and turf $ 23,830 $ 4,868 $ 21,736 $ 4,041 Construction and forestry 4,396 1,179 4,334 712 Total 28,226 6,047 26,070 4,753 Wholesale notes 3,285 2,577 Revolving charge accounts 4,316 3,880 Financing leases (direct and sales-type) 2,832 2,879 Total financing receivables 38,659 6,047 35,406 4,753 Less: Unearned finance income : Retail notes 1,358 95 1,131 80 Wholesale notes 12 11 Revolving charge accounts 61 55 Financing leases 285 258 Total 1,716 95 1,455 80 Allowance for credit losses 309 16 152 14 Financing receivables – net $ 36,634 $ 5,936 $ 33,799 $ 4,659
Financing Receivables \| Related to Sales of Equipment
Accounts, Notes, Loans and Financing Receivable
Schedule of Trade Accounts and Notes Receivable, Financing Receivables, and Financing Receivables Related to the Sale of Equipment	Financing receivables at October 30, 2022 and October 31, 2021 related to the company’s sales of equipment that were included in the previous table consisted of the following in millions of dollars: 2022 2021 Retail notes: Agriculture and turf $ 1,392 $ 1,977 Construction and forestry 304 378 Total 1,696 2,355 Wholesale notes 3,285 2,577 Sales-type leases 799 1,269 Total 5,780 6,201 Less: Unearned finance income: Retail notes 133 159 Wholesale notes 12 11 Sales-type leases 67 98 Total 212 268 Financing receivables related to the company’s sales of equipment $ 5,568 $ 5,933 These retail notes arise from sales of equipment by company-owned dealers or through direct sales. Included in the table above were $10 million of securitized construction and forestry retail notes at October 31, 2021 .

SECURITIZATION OF FINANCING R_2

SECURITIZATION OF FINANCING RECEIVABLES (Tables)	12 Months Ended
SECURITIZATION OF FINANCING RECEIVABLES (Tables)	Oct. 30, 2022
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 at October 30, 2022 in millions of dollars: 2022 Carrying value of liabilities $ 759 Maximum exposure to loss 843
Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions	The components of consolidated restricted assets, secured borrowings, and other liabilities related to secured borrowings at October 30, 2022 and October 31, 2021 were as follows in millions of dollars: 2022 2021 Financing receivables securitized (retail notes) $ 5,952 $ 4,673 Allowance for credit losses (16) (14) Other assets (primarily restricted cash) 155 107 Total restricted securitized assets $ 6,091 $ 4,766 Short-term securitization borrowings $ 5,711 $ 4,605 Accrued interest on borrowings 6 2 Total liabilities related to restricted securitized assets $ 5,717 $ 4,607

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
INVENTORIES (Tables)	Oct. 30, 2022
INVENTORIES
Major Classification of Inventories	If all inventories had been valued on a FIFO basis, estimated inventories by major classification at October 30, 2022 and October 31, 2021 in millions of dollars would have been as follows: 2022 2021 Raw materials and supplies $ 4,442 $ 3,524 Work-in-process 1,190 994 Finished goods and parts 5,363 4,373 Total FIFO value 10,995 8,891 Less adjustment to LIFO value 2,500 2,110 Inventories $ 8,495 $ 6,781

PROPERTY AND DEPRECIATION (Tabl

PROPERTY AND DEPRECIATION (Tables)	12 Months Ended
PROPERTY AND DEPRECIATION (Tables)	Oct. 30, 2022
PROPERTY AND DEPRECIATION
Schedule of Property and Equipment	A summary of property and equipment at October 30, 2022 and October 31, 2021 in millions of dollars follows: Useful Lives* (Years) 2022 2021 Land $ 274 $ 297 Buildings and building equipment 22 4,386 4,352 Machinery and equipment 11 6,208 6,123 Dies, patterns, tools, etc. 8 1,558 1,679 All other 5 1,205 1,197 Construction in progress 818 527 Total at cost 14,449 14,175 Less accumulated depreciation 8,393 8,355 Property and equipment - net $ 6,056 $ 5,820 * Weighted-averages
Schedule of Property and Equipment by Geographic Areas	For property and equipment, more than 10 percent resides in the U.S. and Germany, separately disclosed below in millions of dollars: 2022 2021 2020 U.S. $ 3,452 $ 3,138 $ 3,150 Germany 991 1,096 1,113 Other countries 1,613 1,586 1,554 Total $ 6,056 $ 5,820 $ 5,817

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS-NET (Tables)	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS-NET (Tables)	Oct. 30, 2022
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: PPA SAT CF Total November 1, 2020 $ 333 $ 268 $ 2,480 $ 3,081 Acquisitions (Note 3) 201 201 Translation adjustments and other 8 (3) 4 9 October 31, 2021 542 265 2,484 3,291 Acquisitions (Note 3) 132 69 599 800 Translation adjustments and other (28) (16) (360) (404) October 30, 2022 $ 646 $ 318 $ 2,723 $ 3,687
Components of Other Intangible Assets	The components of other intangible assets are as follows in millions of dollars: 2022 2021 Amortized intangible assets: Customer lists and relationships $ 493 $ 542 Technology, patents, trademarks, and other 1,301 1,104 Total at cost 1,794 1,646 Less accumulated amortization: Customer lists and relationships 166 151 Technology, patents, trademarks, and other 410 343 Total accumulated amortization 576 494 Amortized intangible assets 1,218 1,152 Unamortized intangible assets: In-process research and development 123 Other intangible assets - net $ 1,218 $ 1,275
Estimated Amortization Expense	The estimated amortization expense for the next five years is as follows in millions of dollars: Estimated Year Amortization 2023 $ 162 2024 158 2025 131 2026 111 2027 110

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
OTHER ASSETS (Tables)	Oct. 30, 2022
OTHER ASSETS
Schedule of Other Assets	Other assets at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Operating lease asset (Note 24) $ 299 $ 291 Capitalized software, net 372 282 Investment in unconsolidated affiliates 117 175 Deferred charges (including prepaids) 383 281 Derivative assets (Note 26) 373 275 Prepaid taxes 185 193 Parts return asset 119 114 Restricted cash 167 108 Matured lease & repossessed inventory 44 55 Other 358 371 Total $ 2,417 $ 2,145
Unconsolidated Affiliated Companies	Combined financial information of the unconsolidated affiliated companies in millions of dollars follows: Operations 2022 2021 2020 Sales $ 1,023 $ 2,095 $ 1,793 Net income 11 51 7 Deere & Company’s equity in net income (loss) 10 21 (48) Financial Position 2022 2021 Total assets $ 696 $ 1,289 Total external borrowings 470 497 Total net assets 166 366 Deere & Company’s share of the net assets 117 175
Transactions with Unconsolidated Affiliated Companies	Transactions with unconsolidated affiliated companies reported in the statements of consolidated income in millions of dollars follow: 2022 2021 2020 Net sales $ 26 $ 78 $ 81 Purchases 761 1,605 1,288

SHORT-TERM BORROWINGS (Tables)

SHORT-TERM BORROWINGS (Tables)	12 Months Ended
SHORT-TERM BORROWINGS (Tables)	Oct. 30, 2022
SHORT-TERM BORROWINGS
Short-Term Borrowings	Short-term borrowings at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Commercial paper $ 4,703 $ 2,230 Notes payable to banks 402 336 Finance lease obligations due within one year 21 23 Long-term borrowings due within one year* 7,466 8,330 Short-term borrowings $ 12,592 $ 10,919 * Includes unamortized fair value adjustments related to interest rate swaps.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	12 Months Ended
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	Oct. 30, 2022
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Accounts payable and accrued expenses Accounts payable: Trade payables $ 3,894 $ 3,173 Payables to unconsolidated affiliates 11 143 Dividends payable 343 329 Operating lease liabilities 302 279 Deposits withheld from dealers and merchants 163 157 Other 214 159 Accrued expenses: Dealer sales discounts 2,324 1,636 Product warranties 1,427 1,312 Employee benefits 1,528 1,531 Accrued taxes 1,265 1,075 Unearned operating lease revenue 399 421 Unearned revenue (contractual liability) 557 570 Extended warranty premium 866 774 Accrued interest 288 251 Derivative liabilities 1,231 228 Other 1,320 1,175 Total 16,132 13,213 Eliminations* 1,310 865 Total accounts payable and accrued expenses $ 14,822 $ 12,348 * Pri marily sales incentive accruals with a right of set-off against trade receivables. At October 30, 2022 and October 31, 2021, $1,280 million and $836 million, respectively, of sales incentive accruals were classified as accrued expenses by the equipment operations as the related trade receivables had been sold to financial services.

LONG-TERM BORROWINGS (Tables)

LONG-TERM BORROWINGS (Tables)	12 Months Ended
LONG-TERM BORROWINGS (Tables)	Oct. 30, 2022
LONG-TERM BORROWINGS
Long-Term Borrowings	Long-term borrowings at October 30, 2022 and October 31, 2021 consisted of the following in millions of dollars: 2022 2021 Underwritten term debt U.S. dollar notes and debentures: 2.75% notes due 2025 $ 700 $ 700 6.55% debentures due 2028 200 200 5.375% notes due 2029 500 500 3.10% notes due 2030 700 700 8.10% debentures due 2030 250 250 7.125% notes due 2031 300 300 3.90% notes due 2042 1,250 1,250 2.875% notes due 2049 500 500 3.75% notes due 2050 850 850 Euro notes: .5% notes due 2023 ( €500 principal) 584 1.375% notes due 2024 ( €800 principal) 797 934 1.85% notes due 2028 ( €600 principal) 598 701 2.20% notes due 2032 ( €600 principal) 598 701 1.65% notes due 2039 ( €650 principal) 648 759 Serial issuances Medium-term notes: (principal $25,629 - 2022, $22,647 - 2021) Average interest rates of 2.9% - 2022, 1.2% - 2021 24,604 22,899 Other notes and finance lease obligations 1,223 1,178 Less debt issuance costs and debt discounts (122) (118) Long-term borrowings $ 33,596 $ 32,888

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Oct. 30, 2022
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: Warranty Liability/ Unearned Premiums 2022 2021 Beginning of year balance $ 2,086 $ 1,743 Payments (951) (864) Amortization of premiums received (289) (227) Accruals for warranties 1,094 1,071 Premiums received 404 358 Foreign exchange (51) 5 End of year balance $ 2,293 $ 2,086

CAPITAL STOCK (Tables)

CAPITAL STOCK (Tables)	12 Months Ended
CAPITAL STOCK (Tables)	Oct. 30, 2022
CAPITAL STOCK
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: 2022 2021 2020 Net income attributable to Deere & Company $ 7,131 $ 5,963 $ 2,751 Average shares outstanding 304.5 311.6 313.5 Basic per share $ 23.42 $ 19.14 $ 8.77 Average shares outstanding 304.5 311.6 313.5 Effect of dilutive stock options 1.8 2.4 3.1 Total potential shares outstanding 306.3 314.0 316.6 Diluted per share $ 23.28 $ 18.99 $ 8.69

STOCK OPTION AND RESTRICTED S_2

STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS (Tables)	12 Months Ended
STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS (Tables)	Oct. 30, 2022
STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS
Share-based Compensation Expense, Recognized Tax Benefits, and Total Grant-date Fair Value	The total share-based compensation expense, recognized income tax benefits, and total grant-date fair values of stock options and restricted stock units vested consisted of the following in millions of dollars: 2022 2021 2020 Share-based compensation expense $ 85 $ 82 $ 81 Income tax benefits 17 16 19 Stock options and restricted stock units vested 74 93 79
Assumptions Used for the Binomial Lattice Model to Determine Fair Value of Options	The assumptions used for the binomial lattice model to determine the fair value of options follow: 2022 2021 2020 Risk-free interest rate* 1.27% .47% 1.67% Expected dividends 1.2% 1.2% 1.8% Volatility* 32.0% 31.0% 26.0% Expected term (in years)* 5.1 5.5 5.7 * Weighted-averages
Stock Option Activity	The activity for outstanding stock options at October 30, 2022, and changes during 2022 in millions of dollars and shares follow: Remaining Contractual Aggregate Exercise Term Intrinsic Shares Price* (Years) Value Outstanding at beginning of year 2.5 $ 127.82 Granted .2 343.94 Exercised (.6) 105.85 Forfeited (.1) 290.65 Outstanding at end of year 2.0 153.11 4.81 $ 497.2 Exercisable at end of year 1.6 119.16 3.79 436.9 * Weighted-averages
Amounts Related to Stock Options	The amounts related to stock options were as follows in millions of dollars unless otherwise noted: 2022 2021 2020 Weighted-average grant date fair values (per share) $ 89.20 $ 62.73 $ 35.83 Intrinsic value of options exercised $ 169 $ 318 $ 398 Cash received from exercises 63 148 331 Tax benefit from exercises 39 71 93
Weighted-average Grant Date Fair Values	The weighted-average grant date fair values were as follows: 2022 2021 2020 Service-based $ 347.59 $ 258.86 $ 168.94 Performance/service-based 331.47 245.73 160.81
Restricted Stock Units Activity	The company’s restricted stock units at October 30, 2022 and changes during 2022 in thousands of shares follow: Grant-Date Shares Fair Value* Service-based Nonvested at beginning of year 486 $ 190.87 Granted 139 347.59 Vested (208) 173.62 Forfeited (13) 259.72 Nonvested at end of year 404 251.42 Performance/service based Nonvested at beginning of year 197 $ 171.82 Granted 37 331.47 Vested (168) 139.37 Performance change 84 139.37 Forfeited (7) 267.13 Nonvested at end of year 143 227.70 * Weighted-averages

OTHER COMPREHENSIVE INCOME IT_2

OTHER COMPREHENSIVE INCOME ITEMS (Tables)	12 Months Ended
OTHER COMPREHENSIVE INCOME ITEMS (Tables)	Oct. 30, 2022
OTHER COMPREHENSIVE INCOME ITEMS
Schedule of After-Tax Components of Accumulated Other Comprehensive Income (Loss)	The after-tax components of accumulated other comprehensive income follow in millions of dollars. 2022 2021 2020 Retirement benefits adjustment $ (389) $ (1,034) $ (3,918) Cumulative translation adjustment (2,594) (1,478) (1,596) Unrealized gain (loss) on derivatives 21 (42) (58) Unrealized gain (loss) on debt securities (94) 15 33 Total accumulated other comprehensive income (loss) $ (3,056) $ (2,539) $ (5,539)
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. Retirement benefits adjustment reclassifications for actuarial (gain) loss, prior service (credit) cost, and settlements/curtailment are included in net periodic pension and other postretirement benefit costs (see Note 7). Before Tax After Tax (Expense) Tax Amount Credit Amount 2022 Cumulative translation adjustment $ (1,105) $ (11) $ (1,116) Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) 89 (19) 70 Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense (9) 2 (7) Net unrealized gain (loss) on derivatives 80 (17) 63 Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) (140) 30 (110) Reclassification of realized (gain) loss – Other income 1 1 Net unrealized gain (loss) on debt securities (139) 30 (109) Retirement benefits adjustment: Net actuarial gain (loss) 1,192 (298) 894 Prior service credit (cost) (517) 124 (393) Reclassification to Other operating expenses through amortization of: Actuarial (gain) loss 116 (29) 87 Prior service (credit) cost 30 (7) 23 Settlements/curtailments 45 (11) 34 Net unrealized gain (loss) on retirement benefits adjustment 866 (221) 645 Total other comprehensive income (loss) $ (298) $ (219) $ (517) Before Tax After Tax (Expense) Tax Amount Credit Amount 2021 Cumulative translation adjustment: Unrealized translation gain (loss) $ 112 $ 112 Reclassification of realized (gain) loss to: Equity in (income) loss of unconsolidated affiliates 6 6 Net unrealized translation gain (loss) 118 118 Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) 8 $ (2) 6 Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 13 (3) 10 Net unrealized gain (loss) on derivatives 21 (5) 16 Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) (21) 3 (18) Net unrealized gain (loss) on debt securities (21) 3 (18) Retirement benefits adjustment: Net actuarial gain (loss) 3,492 (845) 2,647 Reclassification to Other operating expenses through amortization of: Actuarial (gain) loss 283 (69) 214 Prior service (credit) cost 8 (2) 6 Settlements 22 (5) 17 Net unrealized gain (loss) on retirement benefits adjustment 3,805 (921) 2,884 Total other comprehensive income (loss) $ 3,923 $ (923) $ 3,000 Before Tax After Tax (Expense) Tax Amount Credit Amount 2020 Cumulative translation adjustment: Unrealized translation gain (loss) $ 18 $ 1 $ 19 Reclassification of realized (gain) loss to: Other operating expenses 13 13 Equity in (income) loss of unconsolidated affiliates 23 23 Net unrealized translation gain (loss) 54 1 55 Unrealized gain (loss) on derivatives: Unrealized hedging gain (loss) (18) 2 (16) Reclassification of realized (gain) loss to: Interest rate contracts – Interest expense 21 (3) 18 Net unrealized gain (loss) on derivatives 3 (1) 2 Unrealized gain (loss) on debt securities: Unrealized holding gain (loss) 17 (3) 14 Net unrealized gain (loss) on debt securities 17 (3) 14 Retirement benefits adjustment: Net actuarial gain (loss) (302) 65 (237) Reclassification to Other operating expenses through amortization of: Actuarial (gain) loss 278 (68) 210 Prior service (credit) cost 7 (2) 5 Settlements 26 (7) 19 Net unrealized gain (loss) on retirement benefits adjustment 9 (12) (3) Total other comprehensive income (loss) $ 83 $ (15) $ 68

LEASES (Tables)

LEASES (Tables)	12 Months Ended
LEASES (Tables)	Oct. 30, 2022
LEASES
Summary of Lease Expense by Type	The lease expense by type consisted of the following in millions of dollars: 2022 2021 2020 Operating lease expense $ 114 $ 116 $ 126 Short-term lease expense 55 29 23 Variable lease expense 74 53 41 Finance lease: Depreciation expense 26 26 20 Interest on lease liabilities 1 1 2 Total lease expense $ 270 $ 225 $ 212
Schedule of Operating and Finance Lease Right of Use Assets and Liabilities, Location in Consolidated Balance Sheets	Operating and finance lease right of use assets and lease liabilities follow in millions of dollars: 2022 2021 Operating leases: Other assets $ 299 $ 291 Accounts payable and accrued expenses 302 279 Finance leases: Property and equipment — net $ 49 $ 71 Short-term borrowings 21 23 Long-term borrowings 30 38 Total finance lease liabilities $ 51 $ 61
Schedule of Weighted-Average Remaining Lease Terms in Years and Discount Rates	The weighted-average remaining lease terms in years and discount rates follows: 2022 2021 Weighted-average remaining lease terms: Operating leases 7 5 Finance leases 3 2 Weighted-average discount rates: Operating leases 2.4% 2.3% Finance leases 1.9% 2.3%
Schedule of Operating Lease Payment Amounts	Lease payment amounts in each of the next five years at October 30, 2022 follow in millions of dollars: Operating Finance Due in: Leases Leases 2023 $ 95 $ 22 2024 77 14 2025 54 7 2026 27 3 2027 17 2 Later years 53 6 Total lease payments 323 54 Less imputed interest 21 3 Total lease liabilities $ 302 $ 51
Schedule of Finance Lease Payment Amounts	Lease payment amounts in each of the next five years at October 30, 2022 follow in millions of dollars: Operating Finance Due in: Leases Leases 2023 $ 95 $ 22 2024 77 14 2025 54 7 2026 27 3 2027 17 2 Later years 53 6 Total lease payments 323 54 Less imputed interest 21 3 Total lease liabilities $ 302 $ 51
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 follows in millions of dollars: 2022 2021 2020 Operating cash flows for operating leases $ 127 $ 104 $ 124 Operating cash flows for finance leases 1 1 2 Financing cash flows for finance leases 28 25 17 Right of use assets obtained in exchange for lease liabilities follow in millions of dollars: 2022 2021 Operating leases $ 135 $ 101 Finance leases 17 27
Schedule of Lease Revenues Earned	Lease revenues earned by the company follow in millions of dollars: 2022 2021 2020 Sales-type and direct finance lease revenues $ 154 $ 145 $ 135 Operating lease revenues 1,318 1,423 1,469 Variable lease revenues 26 30 31 Total lease revenues $ 1,498 $ 1,598 $ 1,635
Schedule of Sales-type and Direct Financing Lease Receivables by Market	Sales-type and direct financing lease receivables by market follow in millions of dollars: 2022 2021 Agriculture and turf $ 1,118 $ 1,131 Construction and forestry 1,167 1,284 Total 2,285 2,415 Guaranteed residual values 491 394 Unguaranteed residual values 56 70 Less unearned finance income (285) (258) Financing lease receivables $ 2,547 $ 2,621
Schedule of Payments, Including Guaranteed Residual Values, on Sales-type and Direct Financing Lease Receivables	Scheduled payments, including guaranteed residual values, on sales-type and direct financing lease receivables at October 30, 2022 follow in millions of dollars: Due in: 2022 2023 $ 1,310 2024 722 2025 404 2026 200 2027 120 Later years 20 Total $ 2,776
Schedule of Cost of Equipment on Operating Leases by Market	The cost of equipment on operating leases by market follow in millions of dollars: 2022 2021 Agriculture and turf $ 6,912 $ 7,317 Construction and forestry 1,342 1,616 Total 8,254 8,933 Less accumulated depreciation (1,631) (1,945) Equipment on operating leases - net $ 6,623 $ 6,988
Schedule of Lease Payments for Equipment on Operating Leases	Lease payments for equipment on operating leases at October 30, 2022 were scheduled as follows in millions of dollars: Due in: 2022 2023 $ 974 2024 709 2025 437 2026 228 2027 58 Later years 6 Total $ 2,412

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Oct. 30, 2022
FAIR VALUE MEASUREMENTS
Fair Value of Financial Instruments	The fair values of financial instruments that do not approximate the carrying values at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Carrying Fair Carrying Fair Value Value* Value Value* Financing receivables – net $ 36,634 $ 35,526 $ 33,799 $ 33,718 Financing receivables securitized – net 5,936 5,698 4,659 4,704 Short-term securitization borrowings 5,711 5,577 4,605 4,610 Long-term borrowings due within one year 7,466 7,322 8,330 8,364 Long-term borrowings 33,566 31,852 32,850 34,506 * Fair value measurements above were Level 3 for all financing receivables and Level 2 for all borrowings. ** Values exclude finance lease liabilities that are presented as borrowings (see Note 24).
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at October 30, 2022 and October 31, 2021 at fair value on a recurring basis in millions of dollars follow, excluding the company’s cash equivalents, which were carried at a cost that approximates fair value and consisted of money market funds and time deposits: 2022 2021 Level 1: Marketable securities U.S. equity fund $ 70 $ 75 International equity securities 3 2 U.S. government debt securities 62 59 Total Level 1 marketable securities 135 136 Level 2: Marketable securities U.S. government debt securities 121 139 Municipal debt securities 63 73 Corporate debt securities 200 224 International debt securities 60 2 Mortgage-backed securities* 155 154 Total Level 2 marketable securities 599 592 Other assets Derivatives 373 275 Accounts payable and accrued expenses Derivatives 1,231 228 Level 3: Accounts payable and accrued expenses – Deferred consideration 236 * Primarily issued by U.S. government sponsored enterprises.
Fair Value, Nonrecurring Measurements From Impairments	Fair value, nonrecurring measurements from impairments at October 30, 2022 and October 31, 2021 in millions of dollars follow: Fair Value Losses 2022 1 2021 2022 2021 2020 Other receivables $ 2 Equipment on operating leases – net 22 Inventories $ 19 $ 19 Property and equipment – net 2 15 $ 41 41 $ 44 102 Investments in unconsolidated affiliates 50 Other intangible assets – net 28 2 Other assets 3 1 6 16 1 Related to assessments on the Russian operations, performed at May 1, 2022 and updated on July 31, 2022 and October 30, 2022. 2 2021 fair value of $41 million at January 31, 2021. 3 2021 fair value as of January 31, 2021.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
DERIVATIVE INSTRUMENTS (Tables)	Oct. 30, 2022
DERIVATIVE INSTRUMENTS
Amounts Recorded in the Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships	The amounts recorded, at October 30, 2022 and October 31, 2021, in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows in millions of dollars. Fair value hedging adjustments are included in the carrying amount of the hedged item. Active Hedging Discontinued Hedging Relationships Relationships Carrying Cumulative Carrying Cumulative Amount of Fair Value Amount of Fair Value Hedged Hedging Formerly Hedging Item Amount Hedged Item Amount 2022 Short-term borrowings $ 2,515 $ 15 Long-term borrowings $ 9,060 $ (1,006) 5,520 (19) 2021 Short-term borrowings $ 191 $ 3 $ 1,997 $ (2) Long-term borrowings 7,847 29 6,287 223
Fair Value of Derivative Instruments in Consolidated Balance Sheet	Fair values of derivative instruments in the consolidated balance sheets at October 30, 2022 and October 31, 2021 in millions of dollars follow: 2022 2021 Other Assets Designated as hedging instruments: Interest rate contracts $ 87 $ 166 Not designated as hedging instruments: Interest rate contracts 212 73 Foreign exchange contracts 66 31 Cross-currency interest rate contracts 8 5 Total not designated 286 109 Total derivative assets $ 373 $ 275 Accounts Payable and Accrued Expenses Designated as hedging instruments: Interest rate contracts $ 1,004 $ 99 Not designated as hedging instruments: Interest rate contracts 107 33 Foreign exchange contracts 118 94 Cross-currency interest rate contracts 2 2 Total not designated 227 129 Total derivative liabilities $ 1,231 $ 228
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 statements of consolidated income consisted of the following in millions of dollars: 2022 2021 2020 Fair Value Hedges Interest rate contracts – Interest expense $ (1,144) $ (236) $ 496 Cash Flow Hedges Recognized in OCI: Interest rate contracts – OCI (pretax) 89 8 (18) Reclassified from OCI: Interest rate contracts – Interest expense 9 (13) (21) Not Designated as Hedges Interest rate contracts – Net sales $ 53 $ 13 $ (23) Interest rate contracts – Interest expense* 81 14 (2) Foreign exchange contracts – Net sales (6) Foreign exchange contracts – Cost of sales (64) (101) 93 Foreign exchange contracts – Other operating expenses* 402 (262) 122 Total not designated $ 466 $ (336) $ 190 * Includes interest and foreign exchange gains (losses) from cross-currency interest rate contracts.
Impact on Derivative Assets and Liabilities Related to Netting Arrangements and Collateral	The impact on the derivative assets and liabilities related to netting arrangements and collateral at October 30, 2022 and October 31, 2021 in millions of dollars follows: Gross Amounts Netting Net Recognized Arrangements Collateral Amount 2022 Assets $ 373 $ (179) $ (54) $ 140 Liabilities 1,231 (179) (701) 351 2021 Assets $ 275 $ (105) $ 170 Liabilities 228 (105) $ (5) 118

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	12 Months Ended
SEGMENT DATA (Tables)	Oct. 30, 2022
SEGMENT DATA
Schedule of Segment Reporting Information	Information relating to operations by operating segment in millions of dollars follows for the years ended October 30, 2022, October 31, 2021 and November 1, 2020. OPERATING SEGMENTS 2022 2021 2020 Net sales and revenues Unaffiliated customers: Production & precision ag net sales $ 22,002 $ 16,509 $ 12,962 Small ag & turf net sales 13,381 11,860 9,363 Construction & forestry net sales 12,534 11,368 8,947 Financial services revenues 3,625 3,548 3,589 Other revenues* 1,035 739 679 Total $ 52,577 $ 44,024 $ 35,540 * Other revenues are primarily the production and precision ag, small ag and turf, and construction and forestry revenues for finance and interest income, and other income. OPERATING SEGMENTS 2022 2021 2020 Operating profit Production & precision ag $ 4,386 $ 3,334 $ 1,969 Small ag & turf 1,949 2,045 1,000 Construction & forestry 2,014 1,489 590 Financial services* 1,159 1,144 746 Total operating profit* 9,508 8,012 4,305 Interest income 159 82 62 Interest expense (390) (368) (329) Foreign exchange gains (losses) from equipment operations’ financing activities (103) (45) 17 Pension and OPEB benefit (cost), excluding service cost component 218 183 31 Corporate expenses – net (255) (241) (251) Income taxes (2,007) (1,658) (1,082) Total (2,378) (2,047) (1,552) Net income 7,130 5,965 2,753 Less: Net income (loss) attributable to noncontrolling interests (1) 2 2 Net income attributable to Deere & Company $ 7,131 $ 5,963 $ 2,751 * Operating profit of the financial services business segment includes the effect of its interest expense and foreign exchange gains or losses. Interest income* Production & precision ag $ 22 $ 21 $ 22 Small ag & turf 24 21 16 Construction & forestry 8 10 12 Financial services 2,245 1,999 2,122 Corporate 159 82 62 Intercompany (431) (279) (272) Total $ 2,027 $ 1,854 $ 1,962 * Does not include finance rental income for equipment on operating leases. Interest expense Production & precision ag $ 122 $ 84 $ 76 Small ag & turf 105 87 111 Construction & forestry 72 46 61 Financial services 799 687 942 Corporate 390 368 329 Intercompany (426) (279) (272) Total $ 1,062 $ 993 $ 1,247 Depreciation* and amortization expense Production & precision ag $ 523 $ 495 $ 480 Small ag & turf 236 245 247 Construction & forestry 282 303 289 Financial services 1,050 1,140 1,227 Intercompany (196) (133) (125) Total $ 1,895 $ 2,050 $ 2,118 * Includes depreciation for equipment on operating leases. OPERATING SEGMENTS 2022 2021 2020 Equity in income (loss) of unconsolidated affiliates Small ag & turf $ 1 $ 2 $ 2 Construction & forestry 5 16 (52) Financial services 4 3 2 Total $ 10 $ 21 $ (48) Identifiable operating assets Production & precision ag $ 8,414 $ 7,021 $ 5,708 Small ag & turf 4,451 3,959 3,266 Construction & forestry 6,754 6,457 6,322 Financial services 58,864 51,624 48,719 Corporate 11,547 15,053 11,076 Total $ 90,030 $ 84,114 $ 75,091 Capital additions Production & precision ag $ 649 $ 458 $ 431 Small ag & turf 329 253 223 Construction & forestry 217 183 157 Financial services 2 3 4 Total $ 1,197 $ 897 $ 815 Investments in unconsolidated affiliates Production & precision ag $ 10 $ 1 Small ag & turf 84 $ 31 29 Construction & forestry 122 144 Financial services 23 22 19 Total $ 117 $ 175 $ 193

ORGANIZATION AND CONSOLIDATION

ORGANIZATION AND CONSOLIDATION (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Fiscal year duration	364 days	364 days	364 days
Argentina
Argentina
Net investment	$ 742	$ 578
Net sales and revenues (as a percent)	1%
Wirtgen Group Holding GmbH (Wirtgen)
Net sales		$ 270

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Revenue Recognition
Interest-free periods granted at the time of sale to the dealer, low end of range	1 month
Interest-free periods granted at the time of sale to the dealer, high end of range	12 months
Revenue, Practical Expedient, Financing Component [true false]	true
Revenue, Practical Expedient, Incremental Cost of Obtaining Contract [true false]	true
Historical Claims Rate, Review Period	5 years
Advertising Costs
Advertising costs	$ 227	$ 212	$ 196
Foreign Currency Translation
Foreign exchange pretax net gain (loss)	$ (175)	(134)	$ 18
ASU 2019-12
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2020-08
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2022-04
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
Canada
Revenue Recognition
Remaining consigned inventory	$ 7	$ 150

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Kreisel Acquisition (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 27, 2022	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Acquisitions
Cash purchase price, net of cash acquired		$ 498	$ 244	$ 66
Preliminary Asset and Liability Fair Values at the Acquisition Date
Goodwill		$ 3,687	$ 3,291	$ 3,081
Kreisel
Acquisitions
Cash purchase price, net of cash acquired	$ 276
Cash consideration for acquired equity interests	253
Cash consideration to reduce the option price	21
Preliminary Asset and Liability Fair Values at the Acquisition Date
Trade accounts and notes receivable	2
Other receivables	11
Inventories	11
Property and equipment	11
Goodwill	218
Other intangible assets	178
Other assets	6
Total assets	437
Accounts payable and accrued expenses	26
Deferred income taxes	39
Redeemable noncontrolling interest	$ 96
Identifiable Intangible Assets
Weighted average amortization period (in years)	12 years

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS - Acquisition of Excavator Factories (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 27, 2022	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Invested Capital
Non-cash gain on remeasurement of previously held equity investment, pretax		$ 326
Preliminary Asset and Liability Fair Values at the Acquisition Date
Goodwill		3,687	$ 3,291	$ 3,081
Construction & Forestry (CF)
Preliminary Asset and Liability Fair Values at the Acquisition Date
Goodwill		2,723	$ 2,484	$ 2,480
Excavator Factories
Invested Capital
Deferred consideration	$ 271
Total purchase price consideration	546
Less: Cash obtained	(187)
Less: Settlement of intercompany balances	(113)
Net purchase price consideration	246
Fair value of previously held equity investment	444
Total invested capital	690
Net present value of deferred consideration		$ 236
Non-cash gain on remeasurement of previously held equity investment, after-tax	326
Preliminary Asset and Liability Fair Values at the Acquisition Date
Other receivables	29
Inventories	286
Property and equipment	180
Goodwill	529
Other intangible assets	70
Deferred income taxes	56
Other assets	3
Total assets	1,153
Accounts payable and accrued expenses	300
Long-term borrowings	163
Total liabilities	$ 463
Identifiable Intangible Assets
Weighted average amortization period (in years)	10 years
Excavator Factories \| Other Income \| Construction & Forestry (CF)
Invested Capital
Non-cash gain on remeasurement of previously held equity investment, pretax	$ 326
Excavator Factories \| Deere-branded Excavators, Components, and Service Parts
Invested Capital
Price increases (as a percent)	27%
Excavator Factories \| Deere-branded Excavators, Components, and Service Parts \| Minimum
Invested Capital
Supply agreement period	5 years
Excavator Factories \| Deere-branded Excavators, Components, and Service Parts \| Maximum
Invested Capital
Supply agreement period	30 years
Excavator Factories \| License Agreement
Invested Capital
Cash consideration	$ 70
Excavator Factories \| Factories
Invested Capital
Cash consideration	$ 205

ACQUISITIONS AND DISPOSITIONS_3

ACQUISITIONS AND DISPOSITIONS - Other Acquisitions (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Acquisitions
Cash purchase price, net of cash acquired	$ 498	$ 244	$ 66
Preliminary Asset and Liability Fair Values at the Acquisition Date
Goodwill	$ 3,687	$ 3,291	$ 3,081
GUSS Automation
Acquisitions
Equity method investment ownership acquired (as a percent)	40%
Other Acquisitions
Acquisitions
Cash purchase price, net of cash acquired	$ 134
Cash acquired	3
Preliminary Asset and Liability Fair Values at the Acquisition Date
Trade accounts and notes receivable	8
Inventories	8
Property and equipment	4
Goodwill	53
Other intangible assets	21
Other assets	60
Total assets	154
Accounts payable and accrued expenses	6
Deferred income taxes	5
Total liabilities	11
Redeemable noncontrolling interest	$ 9
Identifiable Intangible Assets
Weighted average amortization period (in years)	7 years
SureFire Ag Systems and SureFire Electronics
Acquisitions
Interest acquired (as a percent)	80%

ACQUISITIONS AND DISPOSITIONS_4

ACQUISITIONS AND DISPOSITIONS - Bear Flag Robotics, Inc (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Aug. 29, 2021	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Acquisitions
Cash purchase price, net of cash acquired		$ 498	$ 244	$ 66
Asset and Liability Fair Values at the Acquisition Date
Goodwill		$ 3,687	$ 3,291	$ 3,081
Bear Flag
Acquisitions
Cash acquired	$ 4
Cash purchase price, net of cash acquired	225
Compensation expense to be recognized	$ 25
Post-acquisition service period	4 years
Liabilities assumed	$ 19
Asset and Liability Fair Values at the Acquisition Date
Property and equipment	1
Goodwill	189
Other intangible assets	54
Total assets	244
Accounts payable and accrued expenses	1
Deferred income taxes	18
Total liabilities	$ 19
Identifiable Intangible Assets
Weighted average amortization period (in years)	7 years

ACQUISITIONS AND DISPOSITIONS_5

ACQUISITIONS AND DISPOSITIONS - Unimil Purchase Price and Asset and Liability Fair Values at the Acquisition Date (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Sep. 27, 2020	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Acquisitions
Cash purchase price, net of cash acquired		$ 498	$ 244	$ 66
Asset and Liability Fair Values at the Acquisition Date
Goodwill		$ 3,687	$ 3,291	$ 3,081
Unimil
Acquisitions
Cash acquired	$ 5
Cash purchase price, net of cash acquired	66
Escrow to secure indemnity obligations	6
Liabilities assumed	14
Asset and Liability Fair Values at the Acquisition Date
Trade accounts and notes receivable	5
Other receivables	2
Inventories	10
Property and equipment	22
Goodwill	28
Other intangible assets	13
Total assets	80
Accounts payable and accrued expenses	5
Deferred income taxes	9
Total liabilities	$ 14
Identifiable Intangible Assets
Weighted average amortization period (in years)	9 years

ACQUISITIONS AND DISPOSITIONS_6

ACQUISITIONS AND DISPOSITIONS - Dispositions (Details) - Sale Of German Walk-behind Lawn Mower Business $ in Millions	1 Months Ended
	Sep. 27, 2020 USD ($)
Dispositions
Total assets	$ 26
Liabilities	5
Proceeds received from sale	0
Gain (loss) from sale, after-tax	(24)
Other Operating Expenses \| Small Ag & Turf (SAT)
Dispositions
Gain (loss) from sale, pretax	$ (24)

SPECIAL ITEMS - UAW Collective

SPECIAL ITEMS - UAW Collective Bargaining Agreement (Details) - UAW Collective Bargaining Arrangement		3 Months Ended
	Nov. 17, 2021 USD ($) facility	Jan. 30, 2022 USD ($)
Special Items
Term of collective bargaining agreement	6 years
Immediate wage increase (as a percent)	10%
United States
Special Items
Number of facilities represented under collective bargaining agreement \| facility	14
Ratification Bonus
Special Items
Ratification bonus payment per eligible employee	$ 8,500
UAW ratification bonus		$ 90,000,000

SPECIAL ITEMS - Impact of Event

SPECIAL ITEMS - Impact of Events in Russia and Ukraine (Details) - USD ($) $ in Millions	12 Months Ended		60 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Oct. 31, 2021
Special Items
Allowance for credit losses	$ 192	$ (18)
Reserves, Impairments, and Voluntary-Separation Costs
Special Items
Fixed asset impairment	$ 41
Location of fixed asset impairment	Cost of sales
Intangible asset impairment	$ 28
Location of intangible asset impairment	Cost of sales
Total Russia/Ukraine events pretax expense	$ 255
Net tax impact	(40)
Total Russia/Ukraine events after-tax expense	215
Reserves, Impairments, and Voluntary-Separation Costs \| Cost of Sales
Special Items
Inventory reserve	19
Voluntary-separation program	3
Reserves, Impairments, and Voluntary-Separation Costs \| Selling, Administrative and General Expenses
Special Items
Allowance for credit losses	153
Voluntary-separation program	11
Reserves, Impairments, and Voluntary-Separation Costs \| Production & Precision Ag (PPA)
Special Items
Fixed asset impairment	$ 30
Location of fixed asset impairment	Cost of sales
Intercompany Agreement	$ 82
Total Russia/Ukraine events pretax expense	133
Reserves, Impairments, and Voluntary-Separation Costs \| Production & Precision Ag (PPA) \| Cost of Sales
Special Items
Inventory reserve	14
Voluntary-separation program	3
Reserves, Impairments, and Voluntary-Separation Costs \| Production & Precision Ag (PPA) \| Selling, Administrative and General Expenses
Special Items
Voluntary-separation program	4
Reserves, Impairments, and Voluntary-Separation Costs \| Small Ag & Turf (SAT)
Special Items
Intercompany Agreement	9
Total Russia/Ukraine events pretax expense	11
Reserves, Impairments, and Voluntary-Separation Costs \| Small Ag & Turf (SAT) \| Cost of Sales
Special Items
Inventory reserve	2
Reserves, Impairments, and Voluntary-Separation Costs \| Construction & Forestry (CF)
Special Items
Fixed asset impairment	$ 11
Location of fixed asset impairment	Cost of sales
Intangible asset impairment	$ 28
Location of intangible asset impairment	Cost of sales
Intercompany Agreement	$ 62
Total Russia/Ukraine events pretax expense	110
Reserves, Impairments, and Voluntary-Separation Costs \| Construction & Forestry (CF) \| Cost of Sales
Special Items
Inventory reserve	3
Reserves, Impairments, and Voluntary-Separation Costs \| Construction & Forestry (CF) \| Selling, Administrative and General Expenses
Special Items
Voluntary-separation program	6
Reserves, Impairments, and Voluntary-Separation Costs \| Financial Services (FS)
Special Items
Intercompany Agreement	(153)
Total Russia/Ukraine events pretax expense	1
Reserves, Impairments, and Voluntary-Separation Costs \| Financial Services (FS) \| Selling, Administrative and General Expenses
Special Items
Allowance for credit losses	153
Voluntary-separation program	1
Russian Ruble
Special Items
Ruble Net Exposure	31
Russia / Ukraine
Special Items
Net exposure	$ 266
Russia
Special Items
Net sales and revenues (as a percent)			2%

SPECIAL ITEMS - Gain on Previou

SPECIAL ITEMS - Gain on Previously Held Equity Investment (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 27, 2022	Oct. 30, 2022
Special Items
Non-cash gain on remeasurement of previously held equity investment, pretax		$ 326
Excavator Factories
Special Items
Non-cash gain on remeasurement of previously held equity investment, after-tax	$ 326
Gain \| Excavator Factories
Special Items
Non-cash gain on remeasurement of previously held equity investment, pretax	326
Non-cash gain on remeasurement of previously held equity investment, after-tax	$ 326

SPECIAL ITEMS - 2021 Special It

SPECIAL ITEMS - 2021 Special Items (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Special Items
Long-lived asset impairments, pretax	$ 88	$ 50	$ 194
Impairments and Other Benefits
Special Items
Gain on sale, pretax		(27)
Impairments and Other Benefits \| Brazil \| Foreign Tax Authority
Special Items
Indirect tax benefit, pretax		(58)
Impairments and Other Benefits \| German Asphalt Plant Factory
Special Items
Long-lived asset impairments, pretax		38
Fixed asset impairment, after-tax		38
Impairments and Other Benefits \| Manufacturing Locations
Special Items
Long-lived asset impairments, pretax		$ 12

SPECIAL ITEMS - Operating Profi

SPECIAL ITEMS - Operating Profit Impact (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Special Items
Gain on remeasurement of previously held equity investment	$ (326)
Long-lived asset impairments, pretax	88	$ 50	$ 194
Year over year change	54
Production & Precision Ag (PPA)
Special Items
Year over year change	234
Small Ag & Turf (SAT)
Special Items
Year over year change	44
Construction & Forestry (CF)
Special Items
Year over year change	(225)
Financial Services (FS)
Special Items
Year over year change	1
Reserves, Impairments, Gain, and Ratification Bonus
Special Items
Total Russia/Ukraine events pretax expense	255
Total pretax expense (benefit)	19
Reserves, Impairments, Gain, and Ratification Bonus \| Other Income
Special Items
Gain on remeasurement of previously held equity investment	(326)
Reserves, Impairments, Gain, and Ratification Bonus \| Cost of Sales
Special Items
UAW ratification bonus	90
Reserves, Impairments, Gain, and Ratification Bonus \| Production & Precision Ag (PPA)
Special Items
Total Russia/Ukraine events pretax expense	133
Total pretax expense (benefit)	186
Reserves, Impairments, Gain, and Ratification Bonus \| Production & Precision Ag (PPA) \| Cost of Sales
Special Items
UAW ratification bonus	53
Reserves, Impairments, Gain, and Ratification Bonus \| Small Ag & Turf (SAT)
Special Items
Total Russia/Ukraine events pretax expense	11
Total pretax expense (benefit)	20
Reserves, Impairments, Gain, and Ratification Bonus \| Small Ag & Turf (SAT) \| Cost of Sales
Special Items
UAW ratification bonus	9
Reserves, Impairments, Gain, and Ratification Bonus \| Construction & Forestry (CF)
Special Items
Total Russia/Ukraine events pretax expense	110
Total pretax expense (benefit)	(188)
Reserves, Impairments, Gain, and Ratification Bonus \| Construction & Forestry (CF) \| Other Income
Special Items
Gain on remeasurement of previously held equity investment	(326)
Reserves, Impairments, Gain, and Ratification Bonus \| Construction & Forestry (CF) \| Cost of Sales
Special Items
UAW ratification bonus	28
Reserves, Impairments, Gain, and Ratification Bonus \| Financial Services (FS)
Special Items
Total Russia/Ukraine events pretax expense	1
Total pretax expense (benefit)	$ 1
Impairments and Other Benefits
Special Items
Gain on sale, pretax		(27)
Total pretax expense (benefit)		(35)
Impairments and Other Benefits \| Other Income
Special Items
Gain on sale, pretax		(27)
Impairments and Other Benefits \| Cost of Sales
Special Items
Long-lived asset impairments, pretax		50
Indirect tax benefit, pretax		(58)
Impairments and Other Benefits \| Production & Precision Ag (PPA)
Special Items
Total pretax expense (benefit)		(48)
Impairments and Other Benefits \| Production & Precision Ag (PPA) \| Cost of Sales
Special Items
Long-lived asset impairments, pretax		5
Indirect tax benefit, pretax		(53)
Impairments and Other Benefits \| Small Ag & Turf (SAT)
Special Items
Total pretax expense (benefit)		(24)
Impairments and Other Benefits \| Small Ag & Turf (SAT) \| Other Income
Special Items
Gain on sale, pretax		(27)
Impairments and Other Benefits \| Small Ag & Turf (SAT) \| Cost of Sales
Special Items
Long-lived asset impairments, pretax		3
Impairments and Other Benefits \| Construction & Forestry (CF)
Special Items
Total pretax expense (benefit)		37
Impairments and Other Benefits \| Construction & Forestry (CF) \| Cost of Sales
Special Items
Long-lived asset impairments, pretax		42
Indirect tax benefit, pretax		$ (5)

SPECIAL ITEMS - 2020 Impairment

SPECIAL ITEMS - 2020 Impairments and Other Charges (Benefits) (Details) - Impairments and Closure Costs $ in Millions	12 Months Ended
	Nov. 01, 2020 USD ($)
Special Items
Total pretax impairments and closure costs	$ 199
Cost of Sales
Special Items
Factory closure, pretax	20
Long-lived asset impairments, pretax	93
Selling, Administrative and General Expenses
Special Items
Long-lived asset impairments, pretax	4
Other Operating Expenses
Special Items
Impairments of equipment on operating leases & matured lease inventory, pretax	32
Equity in (Income) Loss of Unconsolidated Affiliates
Special Items
Affiliate company impairments	50
Production & Precision Ag (PPA)
Special Items
Total pretax impairments and closure costs	2
Production & Precision Ag (PPA) \| Selling, Administrative and General Expenses
Special Items
Long-lived asset impairments, pretax	2
Small Ag & Turf (SAT)
Special Items
Total pretax impairments and closure costs	35
Small Ag & Turf (SAT) \| Cost of Sales
Special Items
Factory closure, pretax	20
Long-lived asset impairments, pretax	13
Small Ag & Turf (SAT) \| Selling, Administrative and General Expenses
Special Items
Long-lived asset impairments, pretax	2
Construction & Forestry (CF)
Special Items
Total pretax impairments and closure costs	130
Construction & Forestry (CF) \| Cost of Sales
Special Items
Long-lived asset impairments, pretax	80
Construction & Forestry (CF) \| Equity in (Income) Loss of Unconsolidated Affiliates
Special Items
Affiliate company impairments	50
Financial Services (FS)
Special Items
Total pretax impairments and closure costs	32
Financial Services (FS) \| Other Operating Expenses
Special Items
Impairments of equipment on operating leases & matured lease inventory, pretax	$ 32

SPECIAL ITEMS - Employee-Separa

SPECIAL ITEMS - Employee-Separation Programs (Details) $ in Millions	12 Months Ended
	Nov. 01, 2020 USD ($)
OPEB
Employee-Separation Programs
Curtailments	$ 34
Location of curtailments	Other operating expenses
2020 Employee-Separation Programs
Employee-Separation Programs
Total employee-separation programs' pretax expenses	$ 335
2020 Employee-Separation Programs \| OPEB
Employee-Separation Programs
Curtailments	$ 34
Location of curtailments	Other operating expenses
2020 Employee-Separation Programs \| Cost of Sales
Employee-Separation Programs
Total employee-separation programs' pretax expenses	$ 104
2020 Employee-Separation Programs \| Research and Development
Employee-Separation Programs
Total employee-separation programs' pretax expenses	55
2020 Employee-Separation Programs \| Selling, Administrative and General Expenses
Employee-Separation Programs
Total employee-separation programs' pretax expenses	135
2020 Employee-Separation Programs \| Operating Profit
Employee-Separation Programs
Total employee-separation programs' pretax expenses	294
2020 Employee-Separation Programs \| Non-operating Profit
Employee-Separation Programs
Total employee-separation programs' pretax expenses	41
2020 Employee-Separation Programs \| Production & Precision Ag (PPA) \| Cost of Sales
Employee-Separation Programs
Total employee-separation programs' pretax expenses	51
2020 Employee-Separation Programs \| Production & Precision Ag (PPA) \| Research and Development
Employee-Separation Programs
Total employee-separation programs' pretax expenses	29
2020 Employee-Separation Programs \| Production & Precision Ag (PPA) \| Selling, Administrative and General Expenses
Employee-Separation Programs
Total employee-separation programs' pretax expenses	53
2020 Employee-Separation Programs \| Production & Precision Ag (PPA) \| Operating Profit
Employee-Separation Programs
Total employee-separation programs' pretax expenses	133
2020 Employee-Separation Programs \| Small Ag & Turf (SAT) \| Cost of Sales
Employee-Separation Programs
Total employee-separation programs' pretax expenses	31
2020 Employee-Separation Programs \| Small Ag & Turf (SAT) \| Research and Development
Employee-Separation Programs
Total employee-separation programs' pretax expenses	18
2020 Employee-Separation Programs \| Small Ag & Turf (SAT) \| Selling, Administrative and General Expenses
Employee-Separation Programs
Total employee-separation programs' pretax expenses	43
2020 Employee-Separation Programs \| Small Ag & Turf (SAT) \| Operating Profit
Employee-Separation Programs
Total employee-separation programs' pretax expenses	92
2020 Employee-Separation Programs \| Construction & Forestry (CF) \| Cost of Sales
Employee-Separation Programs
Total employee-separation programs' pretax expenses	22
2020 Employee-Separation Programs \| Construction & Forestry (CF) \| Research and Development
Employee-Separation Programs
Total employee-separation programs' pretax expenses	8
2020 Employee-Separation Programs \| Construction & Forestry (CF) \| Selling, Administrative and General Expenses
Employee-Separation Programs
Total employee-separation programs' pretax expenses	24
2020 Employee-Separation Programs \| Construction & Forestry (CF) \| Operating Profit
Employee-Separation Programs
Total employee-separation programs' pretax expenses	54
2020 Employee-Separation Programs \| Financial Services (FS) \| OPEB
Employee-Separation Programs
Curtailments	$ 6
Location of curtailments	Other operating expenses
2020 Employee-Separation Programs \| Financial Services (FS) \| Selling, Administrative and General Expenses
Employee-Separation Programs
Total employee-separation programs' pretax expenses	$ 15
2020 Employee-Separation Programs \| Financial Services (FS) \| Operating Profit
Employee-Separation Programs
Total employee-separation programs' pretax expenses	$ 15

SPECIAL ITEMS - Redeemable Nonc

SPECIAL ITEMS - Redeemable Noncontrolling Interest (Details) $ in Millions	12 Months Ended
	Nov. 01, 2020 USD ($)
Redeemable Noncontrolling Interest
Noncontrolling interest redemption	$ 14
Production & Precision Ag (PPA) \| Hagie Manufacturing Company, LLC
Redeemable Noncontrolling Interest
Noncontrolling interest redemption (as a percent)	20%
Noncontrolling interest redemption	$ 14
Ownership interest after transaction (as a percent)	100%
Noncontrolling interest redemption gain or loss	$ 0

REVENUE RECOGNITION - Primary G

REVENUE RECOGNITION - Primary Geographic Market, Major Product Line, and Timing (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Revenue Recognition
Net sales and revenues	$ 52,577	$ 44,024	$ 35,540
Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	48,756	40,255	31,722
Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	3,821	3,769	3,818
Production Agriculture
Revenue Recognition
Net sales	21,685	16,248	12,662
Small Agriculture
Revenue Recognition
Net sales	10,027	8,619	6,827
Turf
Revenue Recognition
Net sales	3,027	2,853	2,390
Construction
Revenue Recognition
Net sales	5,864	4,684	3,521
Compact Construction
Revenue Recognition
Net sales	1,667	1,489	1,269
Roadbuilding
Revenue Recognition
Net sales	3,441	3,749	2,924
Forestry
Revenue Recognition
Net sales	1,308	1,280	1,100
Financial Products
Revenue Recognition
Financial	3,769	3,669	3,720
Other
Revenue Recognition
Other net sales and revenues	1,789	1,433	1,127
United States
Revenue Recognition
Net sales and revenues	28,238	22,814	18,996
Canada
Revenue Recognition
Net sales and revenues	3,902	3,015	2,390
Western Europe
Revenue Recognition
Net sales and revenues	6,344	6,429	5,333
Central Europe and CIS
Revenue Recognition
Net sales and revenues	2,289	2,664	2,072
Latin America
Revenue Recognition
Net sales and revenues	7,339	4,522	3,023
Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	4,465	4,580	3,726
Production & Precision Ag (PPA)
Revenue Recognition
Net sales and revenues	22,318	16,817	13,275
Production & Precision Ag (PPA) \| Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	22,178	16,659	13,106
Production & Precision Ag (PPA) \| Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	140	158	169
Production & Precision Ag (PPA) \| Production Agriculture
Revenue Recognition
Net sales	21,685	16,248	12,662
Production & Precision Ag (PPA) \| Financial Products
Revenue Recognition
Financial	60	55	69
Production & Precision Ag (PPA) \| Other
Revenue Recognition
Other net sales and revenues	573	514	544
Production & Precision Ag (PPA) \| United States
Revenue Recognition
Net sales and revenues	10,975	8,223	6,889
Production & Precision Ag (PPA) \| Canada
Revenue Recognition
Net sales and revenues	1,387	853	640
Production & Precision Ag (PPA) \| Western Europe
Revenue Recognition
Net sales and revenues	2,188	2,086	1,827
Production & Precision Ag (PPA) \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	1,207	1,322	898
Production & Precision Ag (PPA) \| Latin America
Revenue Recognition
Net sales and revenues	4,991	2,916	1,902
Production & Precision Ag (PPA) \| Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	1,570	1,417	1,119
Small Ag & Turf (SAT)
Revenue Recognition
Net sales and revenues	13,569	12,046	9,495
Small Ag & Turf (SAT) \| Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	13,493	11,969	9,439
Small Ag & Turf (SAT) \| Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	76	77	56
Small Ag & Turf (SAT) \| Small Agriculture
Revenue Recognition
Net sales	10,027	8,619	6,827
Small Ag & Turf (SAT) \| Turf
Revenue Recognition
Net sales	3,027	2,853	2,390
Small Ag & Turf (SAT) \| Financial Products
Revenue Recognition
Financial	52	46	37
Small Ag & Turf (SAT) \| Other
Revenue Recognition
Other net sales and revenues	463	528	241
Small Ag & Turf (SAT) \| United States
Revenue Recognition
Net sales and revenues	7,741	6,505	5,059
Small Ag & Turf (SAT) \| Canada
Revenue Recognition
Net sales and revenues	676	498	350
Small Ag & Turf (SAT) \| Western Europe
Revenue Recognition
Net sales and revenues	2,478	2,433	1,937
Small Ag & Turf (SAT) \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	488	475	493
Small Ag & Turf (SAT) \| Latin America
Revenue Recognition
Net sales and revenues	578	456	334
Small Ag & Turf (SAT) \| Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	1,608	1,679	1,322
Construction & Forestry (CF)
Revenue Recognition
Net sales and revenues	13,065	11,613	9,181
Construction & Forestry (CF) \| Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	12,980	11,522	9,071
Construction & Forestry (CF) \| Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	85	91	110
Construction & Forestry (CF) \| Construction
Revenue Recognition
Net sales	5,864	4,684	3,521
Construction & Forestry (CF) \| Compact Construction
Revenue Recognition
Net sales	1,667	1,489	1,269
Construction & Forestry (CF) \| Roadbuilding
Revenue Recognition
Net sales	3,441	3,749	2,924
Construction & Forestry (CF) \| Forestry
Revenue Recognition
Net sales	1,308	1,280	1,100
Construction & Forestry (CF) \| Financial Products
Revenue Recognition
Financial	32	20	25
Construction & Forestry (CF) \| Other
Revenue Recognition
Other net sales and revenues	753	391	342
Construction & Forestry (CF) \| United States
Revenue Recognition
Net sales and revenues	7,103	5,697	4,548
Construction & Forestry (CF) \| Canada
Revenue Recognition
Net sales and revenues	1,238	1,047	802
Construction & Forestry (CF) \| Western Europe
Revenue Recognition
Net sales and revenues	1,576	1,807	1,479
Construction & Forestry (CF) \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	545	828	646
Construction & Forestry (CF) \| Latin America
Revenue Recognition
Net sales and revenues	1,467	903	553
Construction & Forestry (CF) \| Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Net sales and revenues	1,136	1,331	1,153
Financial Services (FS)
Revenue Recognition
Financial	3,625	3,548	3,589
Financial Services (FS) \| Revenue Recognized at a Point in Time
Revenue Recognition
Financial	105	105	106
Financial Services (FS) \| Revenue Recognized Over Time
Revenue Recognition
Financial	3,520	3,443	3,483
Financial Services (FS) \| Financial Products
Revenue Recognition
Financial	3,625	3,548	3,589
Financial Services (FS) \| United States
Revenue Recognition
Financial	2,419	2,389	2,500
Financial Services (FS) \| Canada
Revenue Recognition
Financial	601	617	598
Financial Services (FS) \| Western Europe
Revenue Recognition
Financial	102	103	90
Financial Services (FS) \| Central Europe and CIS
Revenue Recognition
Financial	49	39	35
Financial Services (FS) \| Latin America
Revenue Recognition
Financial	303	247	234
Financial Services (FS) \| Asia, Africa, Australia, New Zealand, and Middle East
Revenue Recognition
Financial	$ 151	$ 153	$ 132

REVENUE RECOGNITION - Deferred

REVENUE RECOGNITION - Deferred Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Deferred Revenue
Deferred revenue received	$ 1,423	$ 1,344
Revenue recognized from deferred revenue	$ 609	$ 485	$ 425

REVENUE RECOGNITION - Unsatisfi

REVENUE RECOGNITION - Unsatisfied Performance Obligations (Details) $ in Millions	Oct. 30, 2022 USD ($)
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 1,224
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-31
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 336
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
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 319
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
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 230
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-11-03
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 131
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-11-02
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 84
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-11-01
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 124
Period estimated revenue to be recognized	24 months

CASH FLOW INFORMATION (Details)

CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
CASH FLOW INFORMATION
Cash paid for interest	$ 1,101	$ 1,041	$ 1,279
Cash paid for income taxes	1,940	2,075	1,069
Inventory transferred to equipment on operating leases	167	662	614
Accounts payable related to purchases of property and equipment	$ 165	$ 121	$ 98

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Pensions
Net Periodic Cost
Service cost	$ 349	$ 332	$ 321
Interest cost	$ 330	$ 276	$ 347
Location of interest cost	Other operating expenses	Other operating expenses	Other operating expenses
Expected return on plan assets	$ (726)	$ (799)	$ (819)
Location of expected return on plan assets	Other operating expenses	Other operating expenses	Other operating expenses
Amortization of actuarial (gain) loss	$ 132	$ 259	$ 256
Location of amortization of actuarial (gain) loss	Other operating expenses	Other operating expenses	Other operating expenses
Amortization of prior service (credit) cost	$ 34	$ 12	$ 13
Location of amortization of prior service (credit) cost	Other operating expenses	Other operating expenses	Other operating expenses
Settlements/curtailments	$ 45	$ 21	$ 25
Location of settlements/curtailments	Other operating expenses	Other operating expenses	Other operating expenses
Net cost	$ 164	$ 101	$ 143
Weighted-Average Assumptions
Discount rates - service cost (as a percent)	3%	2.50%	2.90%
Discount rates - interest cost (as a percent)	2.60%	2.10%	2.70%
Rate of compensation increase (as a percent)	3.70%	3.70%	3.80%
Expected long-term rates of return (as a percent)	5.10%	6%	6.40%
Pensions \| United States
Net Periodic Cost
Curtailments	$ 34
Location of curtailments	Other operating expenses
Percent of active, eligible hourly employees that elected to freeze their defined benefit pension plan benefit for an enhanced defined contribution benefit (as a percent)	10%
Weighted-Average Assumptions
Interest crediting rate - U.S. cash balance plans (as a percent)	2.10%	1.70%	2.10%
Pensions \| UAW Collective Bargaining Arrangement \| United States
UAW Contract Remeasurement
Pension expense increase	$ 80
Pensions \| UAW Collective Bargaining Arrangement \| United States \| Operating Profit
UAW Contract Remeasurement
Pension expense increase	35
OPEB
Net Periodic Cost
Service cost	45	$ 48	$ 49
Interest cost	$ 99	$ 102	$ 140
Location of interest cost	Other operating expenses	Other operating expenses	Other operating expenses
Expected return on plan assets	$ (110)	$ (77)	$ (50)
Location of expected return on plan assets	Other operating expenses	Other operating expenses	Other operating expenses
Amortization of actuarial (gain) loss	$ (18)	$ 27	$ 29
Location of amortization of actuarial (gain) loss	Other operating expenses	Other operating expenses	Other operating expenses
Amortization of prior service (credit) cost	$ (4)	$ (4)	$ (4)
Location of amortization of prior service (credit) cost	Other operating expenses	Other operating expenses	Other operating expenses
Curtailments			$ 34
Location of curtailments			Other operating expenses
Net cost	$ 12	$ 96	$ 198
Weighted-Average Assumptions
Discount rates - service cost (as a percent)	3.60%	3.40%	3.70%
Discount rates - interest cost (as a percent)	2.30%	2.10%	2.70%
Expected long-term rates of return (as a percent)	4.40%	5.40%	5.70%
OPEB \| 2020 Employee-Separation Programs
Net Periodic Cost
Curtailments			$ 34
Location of curtailments			Other operating expenses

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFITS - Benefit Plan Obligations, Funded Status, and Assumptions (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Change in Plan Assets (Fair Value)
Employer contribution	$ 1,240	$ 258
Pensions
Change in Benefit Obligations
Beginning of year balance	(14,525)	(15,021)
Service cost	(349)	(332)	$ (321)
Interest cost	(330)	(276)	(347)
Actuarial gain	4,122	373
Prior service cost	(505)
Benefits paid	757	755
Settlements/curtailments		1
Foreign exchange and other	301
Foreign exchange and other		(25)
End of year balance	(10,529)	(14,525)	(15,021)
Change in Plan Assets (Fair Value)
Beginning of year balance	17,190	14,574
Actual return on plan assets	(3,070)	3,249
Employer contribution	85	101
Benefits paid	(757)	(755)
Foreign exchange and other		21
Foreign exchange and other	(229)
End of year balance	13,219	17,190	14,574
Funded (unfunded) status	$ 2,690	$ 2,665
Weighted-Average Assumptions
Discount rates (as a percent)	5.40%	2.70%
Rate of compensation increase (as a percent)	3.80%	3.70%
Pensions \| United States
Weighted-Average Assumptions
Interest crediting rate - U.S. cash balance plans (as a percent)	4.40%	1.80%
OPEB
Change in Benefit Obligations
Beginning of year balance	$ (4,930)	$ (5,410)
Service cost	(45)	(48)	(49)
Interest cost	(99)	(102)	(140)
Actuarial gain	1,492	381
Prior service cost	(12)
Benefits paid	282	290
Health care subsidies	(33)	(29)
Foreign exchange and other	4	(12)
End of year balance	(3,341)	(4,930)	(5,410)
Change in Plan Assets (Fair Value)
Beginning of year balance	1,755	1,518
Actual return on plan assets	(495)	367
Employer contribution	1,155	157
Benefits paid	(282)	(290)
Foreign exchange and other	3	3
End of year balance	2,136	1,755	$ 1,518
Funded (unfunded) status	$ (1,205)	$ (3,175)
Weighted-Average Assumptions
Discount rates (as a percent)	5.60%	2.80%

PENSION AND OTHER POSTRETIREM_5

PENSION AND OTHER POSTRETIREMENT BENEFITS - Health Care Trend Assumptions (Details) - Health Care	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021
Health Care Cost Trend Rates
Weighted-average health care cost trend rate, initial year (as a percent)	0%	2.10%
Weighted-average health care cost trend rate, second year (as a percent)	12.60%	8.40%
Ultimate weighted-average health care cost trend rate (as a percent)	4.70%	4.70%
Year that weighted-average health care cost trend rate reaches ultimate rate (year)	2032 2033	2028 2029

PENSION AND OTHER POSTRETIREM_6

PENSION AND OTHER POSTRETIREMENT BENEFITS - Other (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021
Amounts Recognized in Balance Sheet
Noncurrent asset	$ 3,730	$ 3,601
Employer Contributions
Defined benefit plan employer contributions	1,240	258
Pensions
Amounts Recognized in Balance Sheet
Noncurrent asset	3,223	3,601
Current liability	(42)	(51)
Noncurrent liability	(491)	(885)
Funded (unfunded) status	2,690	2,665
Amounts Recognized in Accumulated Other Comprehensive Income - Pretax
Net actuarial (gain) loss	926	1,376
Prior service cost (credit)	446	9
Total	1,372	1,385
Accumulated Benefit Obligations - Additional Disclosures
Total accumulated benefit obligations for all plans	10,068	13,787
Plans with Accumulated Benefit Obligation Exceeding Fair Value of Plan Assets
Accumulated benefit obligations	1,116	2,012
Fair value of plan assets	672	1,207
Plans with Projected Benefit Obligation Exceeding Fair Value of Plan Assets
Projected benefit obligations	1,225	2,163
Fair value of plan assets	692	1,227
Employer Contributions
Defined benefit plan employer contributions	85	101
Expected defined benefit plan employer contributions for next fiscal year	70
Benefits Expected to be Paid from the Benefit Plans, which Reflect Expected Future Years of Service
Defined benefit plan, expected future benefit payments, next twelve months	739
Defined benefit plan, expected future benefit payments, year two	730
Defined benefit plan, expected future benefit payments, year three	729
Defined benefit plan, expected future benefit payments, year four	728
Defined benefit plan, expected future benefit payments, year five	721
Defined benefit plan, expected future benefit payments, five fiscal years thereafter	3,589
OPEB
Amounts Recognized in Balance Sheet
Noncurrent asset	507
Current liability	(39)	(36)
Noncurrent liability	(1,673)	(3,139)
Funded (unfunded) status	(1,205)	(3,175)
Amounts Recognized in Accumulated Other Comprehensive Income - Pretax
Net actuarial (gain) loss	(820)	49
Prior service cost (credit)	(4)	(20)
Total	(824)	29
Employer Contributions
Defined benefit plan employer contributions	1,155	$ 157
Expected defined benefit plan employer contributions for next fiscal year	130
Benefits Expected to be Paid from the Benefit Plans, which Reflect Expected Future Years of Service
Defined benefit plan, expected future benefit payments, next twelve months	246
Defined benefit plan, expected future benefit payments, year two	248
Defined benefit plan, expected future benefit payments, year three	250
Defined benefit plan, expected future benefit payments, year four	252
Defined benefit plan, expected future benefit payments, year five	253
Defined benefit plan, expected future benefit payments, five fiscal years thereafter	1,274
OPEB \| United States
Employer Contributions
Defined benefit plan employer voluntary contribution	$ 1,000

PENSION AND OTHER POSTRETIREM_7

PENSION AND OTHER POSTRETIREMENT BENEFITS - Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Pensions
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	$ 13,219	$ 17,190	$ 14,574
Pensions \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	6,602	8,749
Pensions \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1,535	3,340
Pensions \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	5,067	5,409
Pensions \| Cash and Short-term Investments \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	338	378
Pensions \| Cash and Short-term Investments \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	283	355
Pensions \| Cash and Short-term Investments \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	55	23
Pensions \| Short-term Investments \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	633	815
Pensions \| U.S. Equity Securities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	311	1,151
Pensions \| U.S. Equity Securities \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	290	1,123
Pensions \| U.S. Equity Securities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	21	28
Pensions \| U.S. Equity Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	54	796
Pensions \| International Equity Securities and Funds \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	196	951
Pensions \| International Equity Securities and Funds \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	195	931
Pensions \| International Equity Securities and Funds \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1	20
Pensions \| International Equity Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	125	528
Pensions \| Government and Agency Securities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1,296	1,475
Pensions \| Government and Agency Securities \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1,053	1,159
Pensions \| Government and Agency Securities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	243	316
Pensions \| Corporate Debt Securities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	4,587	4,841
Pensions \| Corporate Debt Securities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	4,587	4,841
Pensions \| Mortgage-backed Securities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	213	144
Pensions \| Mortgage-backed Securities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	213	144
Pensions \| Fixed Income Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1,736	1,701
Pensions \| Real Estate Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	592	566
Pensions \| Real Estate Investment Trusts \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		62
Pensions \| Real Estate Investment Trusts \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		55
Pensions \| Real Estate Investment Trusts \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		7
Pensions \| Hedge Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	569	751
Pensions \| Private Equity \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1,322	1,385
Pensions \| Venture Capital \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1,553	1,537
Pensions \| Derivative Contracts - Assets \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	92	116
Pensions \| Derivative Contracts - Assets \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	54	37
Pensions \| Derivative Contracts - Assets \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	38	79
Pensions \| Derivative Contracts - Liabilities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(209)	(75)
Pensions \| Derivative Contracts - Liabilities \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(106)	(15)
Pensions \| Derivative Contracts - Liabilities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(103)	(60)
Pensions \| Receivables, Prepaids, and Payables \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(207)
Pensions \| Receivables, Prepaids, and Payables \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(207)
Pensions \| Receivables, Payables, and Other \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		(155)
Pensions \| Receivables, Payables, and Other \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		(177)
Pensions \| Receivables, Payables, and Other \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		22
Pensions \| Securities Lending Collateral \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	684	982
Pensions \| Securities Lending Collateral \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		107
Pensions \| Securities Lending Collateral \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	684	875
Pensions \| Securities Lending Liability \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(684)	(982)
Pensions \| Securities Lending Liability \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		(107)
Pensions \| Securities Lending Liability \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(684)	(875)
Pensions \| Securities Sold Short \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(64)	(139)
Pensions \| Securities Sold Short \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(58)	(128)
Pensions \| Securities Sold Short \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(6)	(11)
Pensions \| Other Investments \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	49
Pensions \| Other Investments \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	31
Pensions \| Other Investments \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	18
Pensions \| Other Investments \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	33	362
Health Care
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	2,136	1,755
Health Care \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	1,303	642
Health Care \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	669	296
Health Care \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	634	346
Health Care \| Cash and Short-term Investments \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	79	55
Health Care \| Cash and Short-term Investments \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	79	55
Health Care \| Short-term Investments \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		20
Health Care \| U.S. Equity Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	40	619
Health Care \| Equity Securities and Funds \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		30
Health Care \| Equity Securities and Funds \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		29
Health Care \| Equity Securities and Funds \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		1
Health Care \| International Equity Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	22	358
Health Care \| Government and Agency Securities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	629	243
Health Care \| Government and Agency Securities \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	597	215
Health Care \| Government and Agency Securities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	32	28
Health Care \| Corporate Debt Securities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	516	307
Health Care \| Corporate Debt Securities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	516	307
Health Care \| Mortgage-backed Securities \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	83	10
Health Care \| Mortgage-backed Securities \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	83	10
Health Care \| Fixed Income Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	347	18
Health Care \| Real Estate Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	140	42
Health Care \| Hedge Funds \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	188	13
Health Care \| Private Equity \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	41	18
Health Care \| Venture Capital \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	48	20
Health Care \| Other Plan Assets \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(4)
Health Care \| Other Plan Assets \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(7)
Health Care \| Other Plan Assets \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	3
Health Care \| Securities Lending Collateral \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	98	64
Health Care \| Securities Lending Collateral \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		20
Health Care \| Securities Lending Collateral \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	98	44
Health Care \| Securities Lending Liability \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(98)	(64)
Health Care \| Securities Lending Liability \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		(20)
Health Care \| Securities Lending Liability \| Level 2
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	(98)	(44)
Health Care \| Securities Sold Short \| Level 1, Level 2, Level 3
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		(3)
Health Care \| Securities Sold Short \| Level 1
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets		(3)
Health Care \| Other Investments \| Investments at Net Asset Value
Fair Values of Pension Plan and Health Care Assets by Category
Total net assets	$ 7	$ 5

PENSION AND OTHER POSTRETIREM_8

PENSION AND OTHER POSTRETIREMENT BENEFITS - Plan Asset Information (Details)	12 Months Ended
	Oct. 30, 2022
Pensions
Expected Return on Plan Assets
Market related value period	5 years
Pensions \| United States
Average Annual Return
Average annual return over past 10 years (as a percent)	8.60%
Average annual return over past 20 years (as a percent)	8.90%
Pensions \| Minimum \| United States
Average Annual Return
Time period for fundamental changes in capital markets affecting return expectations	10 years
Pensions \| Maximum \| United States
Average Annual Return
Time period for fundamental changes in capital markets affecting return expectations	20 years
Pensions \| Equity Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	20%
Pensions \| Debt Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	66%
Pensions \| Real Estate Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	3%
Pensions \| Other Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	11%
Health Care \| Equity Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	15%
Health Care \| Debt Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	72%
Health Care \| Real Estate Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	4%
Health Care \| Other Investments
Target Asset Allocations, Pension and Health Care Plan Assets
Target allocation percentage for plan assets	9%

PENSION AND OTHER POSTRETIREM_9

PENSION AND OTHER POSTRETIREMENT BENEFITS - Defined Contributions (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
PENSION AND OTHER POSTRETIREMENT BENEFITS
Defined contribution plans employer contributions and costs (primarily in the U.S.)	$ 263	$ 207	$ 160

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes and Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Current:
U.S. - Federal	$ 514	$ 899	$ 400
U.S. - State	136	183	53
Foreign	1,423	1,017	640
Total current	2,073	2,099	1,093
Deferred:
U.S. - Federal	29	(303)	(68)
U.S. - State	24	(45)	9
Foreign	(119)	(93)	48
Total deferred	(66)	(441)	(11)
Provision for income taxes	2,007	1,658	1,082
Consolidated income before income taxes, U.S.	4,977	4,061	2,082
Consolidated income before income taxes, foreign	$ 4,150	$ 3,541	$ 1,801

INCOME TAXES - Statutory and Ef

INCOME TAXES - Statutory and Effective (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Comparison of the statutory and effective income tax provision
Federal corporate statutory tax rate (as a percent)	21%	21%	21%
U.S. federal income tax provision at the U.S. statutory rate (21 percent)	$ 1,917	$ 1,597	$ 815
State and local taxes, net of federal tax effect	133	119	59
Other impacts of Tax Cuts and Jobs Act of 2017	(29)	(85)	39
Rate differential on foreign subsidiaries	121	148	106
Research and business tax credits	(65)	(48)	(50)
Excess tax benefits on equity compensation	(55)	(79)	(87)
Valuation allowances	179	18	139
Other - net	(194)	(12)	61
Provision for income taxes	2,007	$ 1,658	$ 1,082
Accumulated earnings of certain foreign subsidiaries for which no provision for U.S. income or foreign withholding taxes has been made	$ 5,043

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Deferred Tax Assets
OPEB - net	$ 213	$ 676
Tax loss and tax credit carryforwards	1,405	1,542
Accrual for sales allowances	579	466
Allowance for credit losses	90	78
Accrual for employee benefits	304	298
Share-based compensation	41	53
Deferred compensation	44	49
Lessee lease transactions	62	46
Unearned revenue	154	172
Other items, assets	487	333
Less valuation allowances	(1,545)	(1,530)
Deferred income tax, assets	1,834	2,183
Deferred Tax Liabilities
Lessor lease transactions	310	399
Tax over book depreciation	174	154
Goodwill and other intangible assets	178	337
Pension - net	532	448
Lessee lease transactions	57	43
Other items, liabilities	254	341
Deferred income tax, liabilities	$ 1,505	$ 1,722

INCOME TAXES - Additional Defer

INCOME TAXES - Additional Deferred Income Tax Information (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Additional Deferred Income Tax Information
Tax loss and tax credit carryforwards	$ 1,405	$ 1,542
Tax loss and tax credit carryforwards, expiring from 2023 through 2042	940
Tax loss and tax credit carryforwards with an indefinite carryforward period	$ 465

INCOME TAXES - Uncertain Tax Po

INCOME TAXES - Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Reconciliation of the Total Amounts of Unrecognized Tax Benefits
Beginning of year balance	$ 811	$ 668	$ 553
Increases to tax positions taken during the current year	98	81	63
Increases to tax positions taken during prior years	29	100	95
Decreases to tax positions taken during prior years	(18)	(23)	(30)
Decreases due to lapse of statute of limitations	(7)	(12)	(9)
Other	2	(3)	(1)
Foreign exchange	(24)		(3)
End of year balance	891	811	668
Unrecognized tax benefits affecting effective tax rate if recognized	303	227
Total amount of expense from interest and penalties	23	7
Net tax benefit from tax positions settled			3
Interest income on income tax examination	12	8	$ 11
Accrued interest and penalties on income tax	80	75
Interest income receivable on income tax examination	$ 19	$ 11

OTHER INCOME AND OTHER OPERAT_3

OTHER INCOME AND OTHER OPERATING EXPENSES (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Other Income
Gain on previously held equity investment	$ 326
Total	52,577	$ 44,024	$ 35,540
Other Operating Expenses
Depreciation of equipment on operating leases	827	983	1,083
Insurance claims and expenses	267	235	231
Cost of services	214	202	188
Operating lease disposition losses and impairments			52
Pension and OPEB benefit, excluding service cost component	(218)	(183)	(31)
Foreign exchange loss	132	59	4
Other	53	47	85
Other operating expenses	1,275	1,343	1,612
Other income
Other Income
Revenues from services	283	322	314
Insurance premiums and fees earned	289	227	223
Trademark licensing income	89	87	73
Operating lease disposition gains	72	65
Gain on previously held equity investment	326
Investment income	14	41	26
Other	222	249	182
Total	$ 1,295	$ 991	$ 818
Other Operating Expenses
Location of pension and OPEB benefit (cost), excluding service cost component	Other operating expenses	Other operating expenses	Other operating expenses

MARKETABLE SECURITIES - Amortiz

MARKETABLE SECURITIES - Amortized Cost, Fair Value, Purchases, and Proceeds (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Amortized cost and fair value of marketable securities
Fair Value	$ 734	$ 728
Purchases of marketable securities	250	194	$ 130
Proceeds from the maturities and sales of marketable securities	79	109	$ 93
Equity Securities
Net gain (loss) recognized on equity securities	(11)	24
Less: Net gain on equity securities sold		2
Unrealized gain (loss) on equity securities	(11)	22
Equity Securities
Amortized cost and fair value of marketable securities
Fair Value	73	77
U.S. Equity Fund
Amortized cost and fair value of marketable securities
Fair Value	70	75
International Equity Securities
Amortized cost and fair value of marketable securities
Fair Value	3	2
Debt Securities
Amortized cost and fair value of marketable securities
Amortized Cost	780	637
Gross Unrealized Gains		23
Gross Unrealized Losses	119	9
Fair Value	661	651
U.S. Government Debt Securities
Amortized cost and fair value of marketable securities
Amortized Cost	220	196
Gross Unrealized Gains		5
Gross Unrealized Losses	37	3
Fair Value	183	198
Municipal Debt Securities
Amortized cost and fair value of marketable securities
Amortized Cost	74	69
Gross Unrealized Gains		4
Gross Unrealized Losses	11
Fair Value	63	73
Corporate Debt Securities
Amortized cost and fair value of marketable securities
Amortized Cost	236	215
Gross Unrealized Gains		11
Gross Unrealized Losses	36	2
Fair Value	200	224
International Debt Securities
Amortized cost and fair value of marketable securities
Amortized Cost	64	5
Gross Unrealized Losses	4	3
Fair Value	60	2
Mortgage-backed Securities
Amortized cost and fair value of marketable securities
Amortized Cost	186	152
Gross Unrealized Gains		3
Gross Unrealized Losses	31	1
Fair Value	$ 155	$ 154

MARKETABLE SECURITIES - Contrac

MARKETABLE SECURITIES - Contractual Maturities (Details) $ in Millions	Oct. 30, 2022 USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost, due in one year or less	$ 81
Amortized cost, due after one through five years	105
Amortized cost, due after five through 10 years	196
Amortized cost, due after 10 years	212
Amortized cost, mortgage-backed securities	186
Amortized cost, debt securities	780
Contractual Maturities of Debt Securities, Fair Value
Fair value, due in one year or less	81
Fair value, due after one through five years	96
Fair value, due after five through 10 years	166
Fair value, due after 10 years	163
Fair value, mortgage-backed securities	155
Fair value, debt securities	$ 661

RECEIVABLES - Trade Accounts an

RECEIVABLES - Trade Accounts and Notes Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Trade Accounts and Notes Receivable
Trade accounts and notes receivable - net	$ 6,410	$ 4,208
Provision	$ 192	(6)	$ 110
Trade accounts and notes receivable \| Geographic Concentration Risk \| U.S. and Canada
Trade Accounts and Notes Receivable
Concentration of credit risk (as a percent)	52%
Trade Accounts and Notes Receivable
Trade Accounts and Notes Receivable
Trade accounts and notes receivable - net	$ 6,410	4,208
Beginning of year balance	41	39	72
Provision	1	10
Write-offs	(5)	(7)	(23)
Recoveries			1
Translation adjustments	(1)	1	(11)
End of year balance	36	41	39
Trade Accounts and Notes Receivable \| Cumulative Effect from Adoption \| ASU 2016-13
Trade Accounts and Notes Receivable
Beginning of year balance		(2)
End of year balance			$ (2)
Production & Precision Ag (PPA) \| Trade Accounts and Notes Receivable
Trade Accounts and Notes Receivable
Trade accounts and notes receivable - net	2,397	1,204
Small Ag & Turf (SAT) \| Trade Accounts and Notes Receivable
Trade Accounts and Notes Receivable
Trade accounts and notes receivable - net	2,065	1,683
Construction & Forestry (CF) \| Trade Accounts and Notes Receivable
Trade Accounts and Notes Receivable
Trade accounts and notes receivable - net	$ 1,948	$ 1,321

RECEIVABLES - Financing Receiva

RECEIVABLES - Financing Receivables (Details) $ in Millions	12 Months Ended
RECEIVABLES - Financing Receivables (Details) $ in Millions	Oct. 30, 2022 USD ($) item	Oct. 31, 2021 USD ($) item	Nov. 01, 2020 USD ($)	Nov. 03, 2019 USD ($)
Financing receivables
Allowance for credit losses	$ 325	$ 166	$ 184	$ 150
Financing Receivables - Other Disclosures
Maximum term for financing leases	7 years
Unrestricted
Financing receivables
Financing leases (direct and sales-type) receivables, gross	$ 2,832	2,879
Total financing receivables	38,659	35,406
Financing leases - unearned income	285	258
Total unearned finance income	1,716	1,455
Allowance for credit losses	309	152
Financing receivables - net	36,634	33,799
Securitized
Financing receivables
Total financing receivables	6,047	4,753
Total unearned finance income	95	80
Allowance for credit losses	16	14
Financing receivables - net	$ 5,936	$ 4,659
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings
Related to Sales of Equipment \| Unrestricted
Financing receivables
Sales-type leases receivables, gross	$ 799
Total financing receivables	5,780
Sales-type leases - unearned income	67
Total unearned finance income	212
Financing receivables - net	$ 5,568
Related to Sales of Equipment \| Unrestricted and Securitized
Financing receivables
Sales-type leases receivables, gross		$ 1,269
Total financing receivables		6,201
Sales-type leases - unearned income		98
Total unearned finance income		268
Financing receivables - net		5,933
Financing Receivable \| Geographic Concentration Risk \| U.S. and Canada
Financing Receivables - Other Disclosures
Concentration of credit risk (as a percent)	85%
Retail Notes \| Unrestricted
Financing receivables
Financing receivables, gross	$ 28,226	26,070
Unearned finance income	1,358	1,131
Retail Notes \| Securitized
Financing receivables
Financing receivables, gross	6,047	4,753
Unearned finance income	95	80
Retail Notes \| Related to Sales of Equipment \| Unrestricted
Financing receivables
Financing receivables, gross	1,696
Unearned finance income	$ 133
Retail Notes \| Related to Sales of Equipment \| Unrestricted and Securitized
Financing receivables
Financing receivables, gross		2,355
Unearned finance income		159
Retail Notes \| Agriculture and Turf
Financing Receivables - Other Disclosures
Maximum term for notes	7 years
Retail Notes \| Agriculture and Turf \| Unrestricted
Financing receivables
Financing receivables, gross	$ 23,830	21,736
Retail Notes \| Agriculture and Turf \| Securitized
Financing receivables
Financing receivables, gross	4,868	4,041
Retail Notes \| Agriculture and Turf \| Related to Sales of Equipment \| Unrestricted
Financing receivables
Financing receivables, gross	$ 1,392
Retail Notes \| Agriculture and Turf \| Related to Sales of Equipment \| Unrestricted and Securitized
Financing receivables
Financing receivables, gross		1,977
Retail Notes \| Construction and Forestry
Financing Receivables - Other Disclosures
Maximum term for notes	5 years
Retail Notes \| Construction and Forestry \| Unrestricted
Financing receivables
Financing receivables, gross	$ 4,396	4,334
Retail Notes \| Construction and Forestry \| Securitized
Financing receivables
Financing receivables, gross	1,179	712
Retail Notes \| Construction and Forestry \| Related to Sales of Equipment \| Unrestricted
Financing receivables
Financing receivables, gross	304
Retail Notes \| Construction and Forestry \| Related to Sales of Equipment \| Securitized
Financing receivables
Financing receivables - net		$ 10
Location of liability for pledged asset		Short-term securitization borrowings
Retail Notes \| Construction and Forestry \| Related to Sales of Equipment \| Unrestricted and Securitized
Financing receivables
Financing receivables, gross		$ 378
Wholesale Receivables
Financing receivables
Allowance for credit losses	$ 4	$ 7	8	3
Financing Receivables - Other Disclosures
Wholesale note turns \| item	4	3
Wholesale Receivables \| Unrestricted
Financing receivables
Financing receivables, gross	$ 3,285	$ 2,577
Unearned finance income	12	11
Wholesale Receivables \| Related to Sales of Equipment \| Unrestricted
Financing receivables
Financing receivables, gross	3,285
Unearned finance income	12
Wholesale Receivables \| Related to Sales of Equipment \| Unrestricted and Securitized
Financing receivables
Financing receivables, gross		2,577
Unearned finance income		11
Revolving Charge Accounts
Financing receivables
Allowance for credit losses	22	21	$ 43	$ 40
Revolving Charge Accounts \| Unrestricted
Financing receivables
Financing receivables, gross	4,316	3,880
Unearned finance income	$ 61	$ 55

RECEIVABLES - Financing Recei_2

RECEIVABLES - Financing Receivable Installments (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Unrestricted
Financing receivable installments, due in months:
Financing receivables, Due in months: 0 - 12	$ 17,032	$ 15,205
Financing receivables, Due in months: 13 - 24	7,975	7,412
Financing receivables, Due in months: 25 -36	5,987	5,629
Financing receivables, Due in months: 37 - 48	4,297	3,991
Financing receivables, Due in months: 49 - 60	2,559	2,397
Financing receivables, Due in months: Thereafter (greater than 60 months)	809	772
Total financing receivables	38,659	35,406
Securitized
Financing receivable installments, due in months:
Financing receivables, Due in months: 0 - 12	2,226	1,904
Financing receivables, Due in months: 13 - 24	1,667	1,323
Financing receivables, Due in months: 25 -36	1,209	885
Financing receivables, Due in months: 37 - 48	709	478
Financing receivables, Due in months: 49 - 60	227	150
Financing receivables, Due in months: Thereafter (greater than 60 months)	9	13
Total financing receivables	$ 6,047	$ 4,753

RECEIVABLES - Financing Recei_3

RECEIVABLES - Financing Receivables Past Due (Details)	12 Months Ended
RECEIVABLES - Financing Receivables Past Due (Details)	Oct. 30, 2022
RECEIVABLES
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false]	false
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

RECEIVABLES - Retail Notes, Fin

RECEIVABLES - Retail Notes, Financing Leases, and Revolving Charge Accounts Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Credit Quality Analysis
Total retail customer receivables	$ 42,895	$ 38,624	$ 34,637
Retail Customer Receivables
Credit Quality Analysis
2022 and 2021, respectively	16,650	16,173
2021 and 2020, respectively	10,239	8,494
2020 and 2019, respectively	5,091	4,389
2019 and 2018, respectively	2,252	2,098
2018 and 2017, respectively	895	828
Prior years	240	251
Revolving	4,255	3,825
Total retail customer receivables	39,622	36,058
Retail Customer Receivables \| Agriculture and Turf \| 30-59 Days Past Due
Credit Quality Analysis
2022 and 2021, respectively	46	43
2021 and 2020, respectively	63	53
2020 and 2019, respectively	36	29
2019 and 2018, respectively	17	16
2018 and 2017, respectively	7	7
Prior years	3	3
Revolving	19	14
Total retail customer receivables	191	165
Retail Customer Receivables \| Agriculture and Turf \| 60-89 Days Past Due
Credit Quality Analysis
2022 and 2021, respectively	14	16
2021 and 2020, respectively	25	23
2020 and 2019, respectively	13	12
2019 and 2018, respectively	6	6
2018 and 2017, respectively	2	3
Prior years	1	1
Revolving	5	4
Total retail customer receivables	66	65
Retail Customer Receivables \| Agriculture and Turf \| 90 Days or Greater Past Due
Credit Quality Analysis
2022 and 2021, respectively	1
2021 and 2020, respectively		1
Total retail customer receivables	1	1
Retail Customer Receivables \| Agriculture and Turf \| Current
Credit Quality Analysis
2022 and 2021, respectively	13,500	12,877
2021 and 2020, respectively	7,984	6,676
2020 and 2019, respectively	4,091	3,463
2019 and 2018, respectively	1,875	1,738
2018 and 2017, respectively	785	728
Prior years	200	211
Revolving	4,111	3,704
Total retail customer receivables	32,546	29,397
Retail Customer Receivables \| Agriculture and Turf \| Non-performing
Credit Quality Analysis
2022 and 2021, respectively	27	23
2021 and 2020, respectively	60	57
2020 and 2019, respectively	44	53
2019 and 2018, respectively	28	32
2018 and 2017, respectively	18	17
Prior years	19	23
Revolving	8	7
Total retail customer receivables	204	212
Retail Customer Receivables \| Construction and Forestry \| 30-59 Days Past Due
Credit Quality Analysis
2022 and 2021, respectively	53	50
2021 and 2020, respectively	52	40
2020 and 2019, respectively	23	27
2019 and 2018, respectively	9	7
2018 and 2017, respectively	2	4
Prior years	1	1
Revolving	3	3
Total retail customer receivables	143	132
Retail Customer Receivables \| Construction and Forestry \| 60-89 Days Past Due
Credit Quality Analysis
2022 and 2021, respectively	19	15
2021 and 2020, respectively	16	11
2020 and 2019, respectively	7	9
2019 and 2018, respectively	3	6
2018 and 2017, respectively	1	1
Revolving	1	1
Total retail customer receivables	47	43
Retail Customer Receivables \| Construction and Forestry \| 90 Days or Greater Past Due
Credit Quality Analysis
2022 and 2021, respectively	1	1
2021 and 2020, respectively	4	2
2020 and 2019, respectively	1	3
2019 and 2018, respectively	3	3
2018 and 2017, respectively		4
Prior years	1	2
Total retail customer receivables	10	15
Retail Customer Receivables \| Construction and Forestry \| Current
Credit Quality Analysis
2022 and 2021, respectively	2,964	3,122
2021 and 2020, respectively	1,974	1,575
2020 and 2019, respectively	842	754
2019 and 2018, respectively	292	273
2018 and 2017, respectively	73	57
Prior years	12	7
Revolving	108	92
Total retail customer receivables	6,265	5,880
Retail Customer Receivables \| Construction and Forestry \| Non-performing
Credit Quality Analysis
2022 and 2021, respectively	25	26
2021 and 2020, respectively	61	56
2020 and 2019, respectively	34	39
2019 and 2018, respectively	19	17
2018 and 2017, respectively	7	7
Prior years	3	3
Total retail customer receivables	$ 149	$ 148

RECEIVABLES - Wholesale Receiva

RECEIVABLES - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Credit Quality Analysis
Total wholesale receivables	$ 42,895	$ 38,624	$ 34,637
Wholesale Receivables
Credit Quality Analysis
2022 and 2021, respectively	394	387
2021 and 2020, respectively	93	87
2020 and 2019, respectively	29	41
2019 and 2018, respectively	6	9
2018 and 2017, respectively		4
Prior years	3	2
Revolving	2,748	2,036
Total wholesale receivables	3,273	2,566	$ 3,529
Wholesale Receivables \| Agriculture and Turf \| Current
Credit Quality Analysis
2022 and 2021, respectively	387	346
2021 and 2020, respectively	64	80
2020 and 2019, respectively	27	22
2019 and 2018, respectively	4	9
2018 and 2017, respectively		3
Prior years	2
Revolving	2,371	1,696
Total wholesale receivables	2,855	2,156
Wholesale Receivables \| Agriculture and Turf \| Non-performing
Credit Quality Analysis
2020 and 2019, respectively		12
2019 and 2018, respectively	1
Total wholesale receivables	1	12
Wholesale Receivables \| Construction and Forestry \| 30+ days past due
Credit Quality Analysis
Prior years		1
Total wholesale receivables		1
Wholesale Receivables \| Construction and Forestry \| Current
Credit Quality Analysis
2022 and 2021, respectively	7	41
2021 and 2020, respectively	29	7
2020 and 2019, respectively	2	7
2019 and 2018, respectively	1
2018 and 2017, respectively		1
Prior years	1	1
Revolving	377	340
Total wholesale receivables	$ 417	$ 397

RECEIVABLES - Allowance for Cre

RECEIVABLES - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Allowance:
Beginning of year balance	$ 166	$ 184	$ 150
Provision (credit)	192	(18)
Provision			110
Write-offs	(88)	(88)	(118)
Recoveries	52	56	47
Translation adjustments	3	1	(5)
End of year balance	325	166	184
Financing receivables:
End of year balance	42,895	38,624	34,637
Cumulative Effect from Adoption \| ASU 2016-13
Allowance:
Beginning of year balance		31
End of year balance			31
Retail Customer Receivables
Financing receivables:
End of year balance	39,622	36,058
Retail Notes and Financing Leases
Allowance:
Beginning of year balance	138	133	107
Provision (credit)	197
Provision			81
Write-offs	(61)	(60)	(65)
Recoveries	22	20	17
Translation adjustments	3	1	(7)
End of year balance	299	138	133
Financing receivables:
End of year balance	35,367	32,233	27,206
Retail Notes and Financing Leases \| Cumulative Effect from Adoption \| ASU 2016-13
Allowance:
Beginning of year balance		44
End of year balance			44
Revolving Charge Accounts
Allowance:
Beginning of year balance	21	43	40
Provision (credit)	(2)	(17)
Provision			26
Write-offs	(27)	(28)	(53)
Recoveries	30	36	30
End of year balance	22	21	43
Financing receivables:
End of year balance	4,255	3,825	3,902
Revolving Charge Accounts \| Cumulative Effect from Adoption \| ASU 2016-13
Allowance:
Beginning of year balance		(13)
End of year balance			(13)
Wholesale Receivables
Allowance:
Beginning of year balance	7	8	3
Provision (credit)	(3)	(1)
Provision			3
Translation adjustments			2
End of year balance	4	7	8
Financing receivables:
End of year balance	$ 3,273	$ 2,566	$ 3,529

RECEIVABLES - Financing Recei_4

RECEIVABLES - Financing Receivable Analysis Metrics (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
RECEIVABLES
Past-due amounts (as a percent)	1.07%	1.09%
Non-performing (as a percent)	0.83%	0.96%
Allowance for credit losses (as a percent)	0.76%	0.43%
Deposits held as credit enhancements	$ 158	$ 154

RECEIVABLES - Troubled Debt Res

RECEIVABLES - Troubled Debt Restructuring (Details) $ in Millions	12 Months Ended
	Oct. 30, 2022 USD ($) item	Oct. 31, 2021 USD ($) item	Nov. 01, 2020 USD ($) item
Financing Receivables Related to Troubled Debt Restructurings
Number of receivable contracts \| item	276	397	574
Pre-modification balance	$ 12	$ 18	$ 108
Post modification balance	10	$ 17	$ 95
Commitments to lend additional funds to customers whose accounts were modified in troubled debt restructurings	$ 0

RECEIVABLES - Other (Details)

RECEIVABLES - Other (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Other Receivables:
Taxes receivable	$ 1,450	$ 1,436
Collateral on derivatives	709	13
Receivables from unconsolidated affiliates		27
Other	333	289
Other receivables	$ 2,492	$ 1,765

SECURITIZATION OF FINANCING R_3

SECURITIZATION OF FINANCING RECEIVABLES (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Nov. 27, 2022	Oct. 31, 2021	Nov. 01, 2020
Securitization of Financing Receivables
Other assets	$ 2,417		$ 2,145
Total Assets	90,030		84,114	$ 75,091
Short-term securitization borrowings	5,711		4,605
Accrued interest on borrowings - securitization transactions	6		2
Total liabilities related to restricted securitized assets	$ 5,717		$ 4,607
Weighted-average interest rates on short-term securitization borrowings (as a percent)	2.80%		0.90%
Maximum remaining term of all restricted securitized retail notes	7 years
Unconsolidated conduits, carrying value of liabilities	$ 69,673		$ 65,680
Securitized
Securitization of Financing Receivables
Financing receivables securitized (retail notes)	5,952		4,673
Allowance for credit losses	(16)		(14)
Other assets	155		107
Total Assets	6,091		4,766
Bank Conduit Facilities Revolving Credit Agreement
Securitization of Financing Receivables
Bank conduit facilities revolving credit agreement capacity	1,000
Bank Conduit Facilities Revolving Credit Agreement \| Subsequent Event
Securitization of Financing Receivables
Bank conduit facilities revolving credit agreement capacity		$ 1,500
VIE-Primary Beneficiary
Securitization of Financing Receivables
Total liabilities related to restricted securitized assets	4,768		3,024
VIE-Primary Beneficiary \| Securitized
Securitization of Financing Receivables
Total Assets	5,037		3,094
Non-VIE Banking Operation
Securitization of Financing Receivables
Total liabilities related to restricted securitized assets	190		470
Non-VIE Banking Operation \| Securitized
Securitization of Financing Receivables
Total Assets	211		496
VIE-Not Primary Beneficiary
Securitization of Financing Receivables
Total liabilities related to restricted securitized assets	759		1,113
Unconsolidated conduits, carrying value of liabilities	759
Unconsolidated conduits, maximum exposure to loss	843
Total Assets	18,000
VIE-Not Primary Beneficiary \| Securitized
Securitization of Financing Receivables
Total Assets	$ 843		$ 1,176

SECURITIZATION OF FINANCING R_4

SECURITIZATION OF FINANCING RECEIVABLES - Payment Schedule for Short-term Securitization Borrowings (Details) - Financial Services - Short-term securitization borrowings $ in Millions	Oct. 30, 2022 USD ($)
Securitization of Financing Receivables
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2023	$ 2,703
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2024	1,662
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2025	955
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2026	373
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, 2027	25
Payment schedule for securitization borrowings based on expected liquidation of the retail notes, later years	$ 3

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
INVENTORIES
Gross inventories on LIFO basis expressed as percentage of worldwide gross inventories at FIFO	57%	54%
Raw materials and supplies	$ 4,442	$ 3,524
Work-in-process	1,190	994
Finished goods and parts	5,363	4,373
Total FIFO value	10,995	8,891
Less adjustment to LIFO value	2,500	2,110
Inventories	$ 8,495	$ 6,781

PROPERTY AND DEPRECIATION - Sum

PROPERTY AND DEPRECIATION - Summary of Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Summary of property and equipment
Total property and equipment at cost	$ 14,449	$ 14,175
Less accumulated depreciation	8,393	8,355
Property and equipment - net	6,056	5,820	$ 5,817
Property and equipment, additions	1,197	897	815
Depreciation	806	830	800
Capitalized interest	4	3	$ 6
Leased property and equipment under finance leases, at cost	117	131
Accumulated depreciation on leased property and equipment under finance leases	68	60
Land
Summary of property and equipment
Total property and equipment at cost	$ 274	297
Buildings and Building Equipment
Summary of property and equipment
Weighted-average useful lives	22 years
Total property and equipment at cost	$ 4,386	4,352
Machinery and Equipment
Summary of property and equipment
Weighted-average useful lives	11 years
Total property and equipment at cost	$ 6,208	6,123
Dies, Patterns, Tools, etc
Summary of property and equipment
Weighted-average useful lives	8 years
Total property and equipment at cost	$ 1,558	1,679
All Other
Summary of property and equipment
Weighted-average useful lives	5 years
Total property and equipment at cost	$ 1,205	1,197
Construction in Progress
Summary of property and equipment
Total property and equipment at cost	$ 818	$ 527

PROPERTY AND DEPRECIATION - Geo

PROPERTY AND DEPRECIATION - Geographic Areas Property and Equipment (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Geographic Area Information
Property and equipment	$ 6,056	$ 5,820	$ 5,817
United States
Geographic Area Information
Property and equipment	3,452	3,138	3,150
Germany
Geographic Area Information
Property and equipment	991	1,096	1,113
Other Countries
Geographic Area Information
Property and equipment	$ 1,613	$ 1,586	$ 1,554

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS-NET - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	$ 3,291	$ 3,081
Acquisitions (Note 3)	800	201
Translation adjustments and other	(404)	9
Goodwill - net, ending balance	3,687	3,291
Accumulated goodwill impairment losses	0	0
Production & Precision Ag (PPA)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	542	333
Acquisitions (Note 3)	132	201
Translation adjustments and other	(28)	8
Goodwill - net, ending balance	646	542
Small Ag & Turf (SAT)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	265	268
Acquisitions (Note 3)	69
Translation adjustments and other	(16)	(3)
Goodwill - net, ending balance	318	265
Construction & Forestry (CF)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	2,484	2,480
Acquisitions (Note 3)	599
Translation adjustments and other	(360)	4
Goodwill - net, ending balance	$ 2,723	$ 2,484

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS-NET - Intangible Assets (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Amortized intangible assets:
Total at cost	$ 1,794	$ 1,646
Total accumulated amortization	576	494
Amortized intangible assets - net	1,218	1,152
Unamortized intangible assets:
Other intangible assets - net	1,218	1,275
Customer Lists and Relationships
Amortized intangible assets:
Total at cost	493	542
Total accumulated amortization	166	151
Technology, Patents, Trademarks and Other
Amortized intangible assets:
Total at cost	1,301	1,104
Total accumulated amortization	$ 410	343
In-process Research and Development
Unamortized intangible assets:
Unamortized intangible assets		$ 123

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS-NET - Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Amortized Intangible Assets:
Amortization expense of other intangible assets	$ 145	$ 116	$ 102
Amortization expense of other intangible assets - 2023	162
Amortization expense of other intangible assets - 2024	158
Amortization expense of other intangible assets - 2025	131
Amortization expense of other intangible assets - 2026	111
Amortization expense of other intangible assets - 2027	$ 110

OTHER ASSETS - Total Other Asse

OTHER ASSETS - Total Other Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
OTHER ASSETS
Operating lease asset (Note 24)	$ 299	$ 291
Capitalized software, net	372	282
Investments in unconsolidated affiliates	117	175	$ 193
Deferred charges (including prepaids)	383	281
Derivative assets (Note 26)	373	275
Prepaid taxes	185	193
Parts return asset	119	114
Restricted cash	$ 167	$ 108	$ 106
Balance sheet location of restricted cash	Other assets	Other assets	Other assets
Matured lease & repossessed inventory	$ 44	$ 55
Other	358	371
Other assets	$ 2,417	2,145
Capitalized software estimated useful life	3 years
Amortization of capitalized software	$ 117	$ 121	$ 133

OTHER ASSETS - Unconsolidated A

OTHER ASSETS - Unconsolidated Affiliated Companies (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020	Nov. 03, 2019
Operations
Sales	$ 52,577	$ 44,024	$ 35,540
Net income	7,130	5,965	2,753
Deere & Company's equity in net income (loss)	10	21	(48)
Financial Position
Total assets	90,030	84,114	75,091
Total net assets	20,265	18,434	12,944	$ 11,417
Deere & Company's share of the net assets	117	175	193
Transactions with Unconsolidated Affiliated Companies
Net Sales	26	78	81
Purchases	761	1,605	1,288
Unconsolidated Affiliated Companies
Operations
Sales	1,023	2,095	1,793
Net income	11	51	$ 7
Financial Position
Total assets	696	1,289
Total external borrowings	470	497
Total net assets	166	366
Deere & Company's share of the net assets	$ 117	$ 175

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Short-term borrowings
Short-term borrowings	$ 12,592	$ 10,919
Weighted-average interest rates on total short-term borrowings, excluding current maturities of long-term borrowings (as a percent)	4.10%	0.80%
Commercial Paper
Short-term borrowings
Short-term borrowings	$ 4,703	$ 2,230
Notes Payable to Banks
Short-term borrowings
Short-term borrowings	402	336
Finance Lease Obligations Due Within One Year
Short-term borrowings
Short-term borrowings	21	23
Long-term Borrowings Due Within One Year
Short-term borrowings
Short-term borrowings	$ 7,466	$ 8,330

SHORT-TERM BORROWINGS - Other (

SHORT-TERM BORROWINGS - Other (Details) $ in Millions	1 Months Ended	12 Months Ended
SHORT-TERM BORROWINGS - Other (Details) $ in Millions	Oct. 30, 2022 USD ($)	Oct. 30, 2022 USD ($)
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	$ 8,402	$ 8,402
Lines of credit unused	3,284	$ 3,284
Agreement with Capital Corporation
Minimum ownership percentage of Capital Corporation's capital stock		51%
Minimum consolidated tangible net worth of Capital Corporation to be maintained	50	$ 50
Minimum ratio of earnings to fixed charges to be maintained (as a percent)		1.05
Ownership percentage of Capital Corporation's capital stock		100%
Consolidated tangible net worth of Capital Corporation	4,803	$ 4,803
Capital Corporation
Line of Credit Facility
Consolidated ratio of earnings to fixed charges required by the credit agreements, minimum at the end of each fiscal quarter (as a percent)		1.05
Ratio of senior debt, excluding securitization indebtedness, to capital base (total subordinated debt and stockholder's equity excluding accumulated other comprehensive income (loss)) required by the credit agreements, maximum at the end of any fiscal quarter (as a percent)		11
Equipment Operations
Line of Credit Facility
Ratio of total debt to total capital (total debt and stockholders' equity excluding accumulated other comprehensive income (loss)) required by the credit agreements, maximum at the end of each fiscal quarter (as a percent)		65%
Excess equity capacity and retained earnings balance free of restriction	18,526	$ 18,526
Additional debt capacity	$ 34,405	34,405
Leap Ambitions \| Maximum
Line of Credit Facility
Interest rate increase (as a percent)	0.06%
364-Day Credit Facilities Expiring April, 2023
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	$ 3,000	3,000
Line of Credit Facilities Expiring March , 2026
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	2,500	2,500
Line of Credit Facilities Expiring March , 2027
Line of Credit Facility
Lines of credit available from U.S. and foreign banks	$ 2,500	$ 2,500

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Accounts payable:
Trade payables	$ 3,894	$ 3,173
Payables to unconsolidated affiliates	11	143
Dividends payable	343	329
Operating lease liabilities	$ 302	$ 279
Location of operating lease, liability	Total accounts payable and accrued expenses	Total accounts payable and accrued expenses
Deposits withheld from dealers and merchants	$ 163	$ 157
Other	214	159
Accrued expenses:
Dealer sales discounts	2,324	1,636
Product warranties	1,427	1,312
Employee benefits	1,528	1,531
Accrued taxes	1,265	1,075
Unearned operating lease revenue	399	421
Unearned revenue (contractual liability)	557	570
Extended warranty premium	866	774
Accrued interest	288	251
Derivative liabilities	1,231	228
Other	1,320	1,175
Total	16,132	13,213
Total accounts payable and accrued expenses	14,822	12,348
Eliminations
Accrued expenses:
Total accounts payable and accrued expenses	(1,310)	(865)
Eliminations \| Trade Accounts and Notes Receivable
Accrued expenses:
Trade receivable valuation accounts related to sales incentive accruals	$ (1,280)	$ (836)

LONG-TERM BORROWINGS (Details)

LONG-TERM BORROWINGS (Details) € in Millions, $ in Millions	1 Months Ended
LONG-TERM BORROWINGS (Details) € in Millions, $ in Millions	May 01, 2022 USD ($)	Oct. 30, 2022 USD ($)	Oct. 30, 2022 EUR (€)	Oct. 31, 2021 USD ($)	Oct. 31, 2021 EUR (€)
Long-term borrowings
Less debt issuance costs and debt discounts		$ (122)		$ (118)
Total long-term borrowings		33,596		32,888
Principal Amounts of Long-Term Borrowings Maturing In Next Five Years
2023		7,453
2024		7,960
2025		6,820
2026		4,154
2027		3,242
2.75% Notes Due 2025
Long-term borrowings
Long-term borrowings, gross		$ 700		$ 700
Debt instrument, stated interest rate		2.75%	2.75%	2.75%	2.75%
6.55% Debentures Due 2028
Long-term borrowings
Long-term borrowings, gross		$ 200		$ 200
Debt instrument, stated interest rate		6.55%	6.55%	6.55%	6.55%
5.375% Notes Due 2029
Long-term borrowings
Long-term borrowings, gross		$ 500		$ 500
Debt instrument, stated interest rate		5.375%	5.375%	5.375%	5.375%
3.10% Notes Due 2030
Long-term borrowings
Long-term borrowings, gross		$ 700		$ 700
Debt instrument, stated interest rate		3.10%	3.10%	3.10%	3.10%
8.10% Debentures Due 2030
Long-term borrowings
Long-term borrowings, gross		$ 250		$ 250
Debt instrument, stated interest rate		8.10%	8.10%	8.10%	8.10%
7.125% Notes Due 2031
Long-term borrowings
Long-term borrowings, gross		$ 300		$ 300
Debt instrument, stated interest rate		7.125%	7.125%	7.125%	7.125%
3.90% Notes Due 2042
Long-term borrowings
Long-term borrowings, gross		$ 1,250		$ 1,250
Debt instrument, stated interest rate		3.90%	3.90%	3.90%	3.90%
2.875% Notes Due 2049
Long-term borrowings
Long-term borrowings, gross		$ 500		$ 500
Debt instrument, stated interest rate		2.875%	2.875%	2.875%	2.875%
3.75% Notes Due 2050
Long-term borrowings
Long-term borrowings, gross		$ 850		$ 850
Debt instrument, stated interest rate		3.75%	3.75%	3.75%	3.75%
.5% Notes Due 2023
Long-term borrowings
Long-term borrowings, gross				$ 584
Debt instrument, stated interest rate		0.50%	0.50%	0.50%	0.50%
Principal amount \| €			€ 500		€ 500
1.375% Notes Due 2024
Long-term borrowings
Long-term borrowings, gross		$ 797		$ 934
Debt instrument, stated interest rate		1.375%	1.375%	1.375%	1.375%
Principal amount \| €			€ 800		€ 800
1.85% Notes Due 2028
Long-term borrowings
Long-term borrowings, gross		$ 598		$ 701
Debt instrument, stated interest rate		1.85%	1.85%	1.85%	1.85%
Principal amount \| €			€ 600		€ 600
2.20% Notes Due 2032
Long-term borrowings
Long-term borrowings, gross		$ 598		$ 701
Debt instrument, stated interest rate		2.20%	2.20%	2.20%	2.20%
Principal amount \| €			€ 600		€ 600
1.65% Notes Due 2039
Long-term borrowings
Long-term borrowings, gross		$ 648		$ 759
Debt instrument, stated interest rate		1.65%	1.65%	1.65%	1.65%
Principal amount \| €			€ 650		€ 650
Medium-term Notes
Long-term borrowings
Long-term borrowings, gross		$ 24,604		$ 22,899
Principal amount		$ 25,629		$ 22,647
Average interest rates		2.90%	2.90%	1.20%	1.20%
Other Notes and Finance Lease Obligations
Long-term borrowings
Long-term borrowings, gross		$ 1,223		$ 1,178
3.35% Sustainability-Linked Medium Term Notes Due 2029
Long-term borrowings
Long-term borrowings, gross	$ 600
Debt instrument, stated interest rate	3.35%
3.35% Sustainability-Linked Medium Term Notes Due 2029 \| Stated Sustainability Performance Target
Long-term borrowings
Interest rate increase (as a percent)	0.25%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Warranty (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021
COMMITMENTS AND CONTINGENCIES
Historical claims rate, review period	5 years
Unamortized extended warranty premiums (deferred revenue)	$ 866	$ 774
Change in Warranty Liability and Unearned Premiums
Beginning of year balance	2,086	1,743
Payments	(951)	(864)
Amortization of premiums received	(289)	(227)
Accruals for warranties	1,094	1,071
Premiums received	404	358
Foreign exchange	(51)	5
End of year balance	$ 2,293	$ 2,086

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Other (Details) $ in Millions	12 Months Ended
	Oct. 30, 2022 USD ($)
Long Term Purchase Commitments
Commitments for the construction and acquisition of property and equipment	$ 418
Restricted Assets and Other Contingent Liabilities
Other restricted assets	221
Miscellaneous contingent liabilities and guarantees	110
Guarantees, Third-party Receivables
Guarantee Obligations
Guarantee obligations maximum exposure	$ 287
Guarantee obligations term	8 years

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Commitments to Extend Credit (Details) $ in Millions	Oct. 30, 2022 USD ($)
Commitments to Extend Credit
Commitments to Extend Credit
Reserve for credit losses on unfunded commitments	$ 3
Wholesale Receivables
Commitments to Extend Credit
Unused commitments to extend credit	10,000
Retail Customer Receivables
Commitments to Extend Credit
Unused commitments to extend credit	$ 32,000

CAPITAL STOCK (Details)

CAPITAL STOCK (Details) $ / shares in Units, $ in Millions	12 Months Ended
CAPITAL STOCK (Details) $ / shares in Units, $ in Millions	Oct. 30, 2022 USD ($) item $ / shares shares	Oct. 31, 2021 USD ($) $ / shares shares	Nov. 01, 2020 USD ($) $ / shares shares
Common stock
Common stock, par value (in dollars per share) \| $ / shares	$ 1	$ 1
Number of holders of record of the company's $1 par value common stock \| item	17,829
Common stock, authorized (in shares)	1,200,000,000	1,200,000,000
Common stock, issued (in shares)	536,431,204	536,431,204	536,400,000
Preferred Shares
Preferred stock, issued (in shares)	0
Preferred stock, authorized (in shares)	9,000,000
Reconciliation of Basic and Diluted Net Income Per Share
Net income attributable to Deere & Company \| $	$ 7,131	$ 5,963	$ 2,751
Average shares outstanding	304,500,000	311,600,000	313,500,000
Basic per share (in dollars per share) \| $ / shares	$ 23.42	$ 19.14	$ 8.77
Diluted Earnings Per Share
Average shares outstanding	304,500,000	311,600,000	313,500,000
Effect of dilutive stock options (in shares)	1,800,000	2,400,000	3,100,000
Total potential shares outstanding	306,300,000	314,000,000	316,600,000
Diluted per share (in dollars per share) \| $ / shares	$ 23.28	$ 18.99	$ 8.69
Antidilutive incremental shares related to share-based compensation excluded from computation of earnings per share	200,000		600,000
December 2019 Plan
Common stock repurchase plans
Repurchase of common stock shares, maximum authorization (in dollars) \| $	$ 8,000
Common stock shares remaining to be repurchased under repurchase plan (in dollars) \| $	$ 2,228
Common stock shares remaining to be repurchased under repurchase plan (in shares)	5,600,000
Price per share (in dollars per share) \| $ / shares	$ 396.85

STOCK OPTION AND RESTRICTED S_3

STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS - Share-based Compensation General Disclosures (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Share-based Compensation - General Disclosures
Number of additional shares authorized for grant related to stock options or restricted stock	17.2
Share-based compensation expense	$ 85	$ 82	$ 81
Income tax benefits	17	16	19
Stock options and restricted stock units vested	74	$ 93	$ 79
Total unrecognized compensation cost from share-based compensation related to restricted shares and options	$ 66
Weighted-average period during which unrecognized compensation is expected to be recognized	1 year 6 months
Restricted Stock Units Subject to Service-based Conditions
Share-based Compensation - General Disclosures
Vesting period under share-based incentive plans	3 years
Restricted Stock Units Subject to Performance/Service-based Conditions
Share-based Compensation - General Disclosures
Vesting period under share-based incentive plans	3 years
Restricted Stock Units Subject to Performance/Service-based Conditions \| Minimum
Share-based Compensation - General Disclosures
Percent of common stock that may be awarded based on metric	0%
Restricted Stock Units Subject to Performance/Service-based Conditions \| Maximum
Share-based Compensation - General Disclosures
Percent of common stock that may be awarded based on metric	200%
Stock Options
Share-based Compensation - General Disclosures
Vesting period under share-based incentive plans	3 years
Expiration period under share-based incentive plans	10 years

STOCK OPTION AND RESTRICTED S_4

STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS - Stock Option Activity and Assumptions (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Stock Option Amounts
Cash received from exercises	$ 63	$ 148	$ 331
Stock Options
Assumptions used for the binomial lattice model to determine the fair value of options
Fair value assumptions method used	binomial lattice model
Risk-free interest rate, (as a percent)	1.27%	0.47%	1.67%
Expected dividends (as a percent)	1.20%	1.20%	1.80%
Weighted-average volatility (as a percent)	32%	31%	26%
Expected term (in years)	5 years 1 month 6 days	5 years 6 months	5 years 8 months 12 days
Stock Option Activity - Shares
Outstanding at beginning of year (in shares)	2.5
Granted (in shares)	0.2
Exercised (in shares)	(0.6)
Forfeited (in shares)	(0.1)
Outstanding at end of year (in shares)	2	2.5
Exercisable at end of year (in shares)	1.6
Stock Option Activity - Exercise Price, Weighted-averages
Outstanding, weighted average exercise price at beginning of year (in dollars per share)	$ 127.82
Granted, weighted average exercise price (in dollars per share)	343.94
Exercised, weighted average exercise price (in dollars per share)	105.85
Forfeited, weighted average exercise price (in dollars per share)	290.65
Outstanding, weighted average exercise price at end of year (in dollars per share)	153.11	$ 127.82
Exercisable, weighted average exercise price at end of year (in dollars per share)	$ 119.16
Stock Option Activity - Remaining Contractual Term (Years)
Outstanding at end of year, Remaining Contractual Term	4 years 9 months 21 days
Exercisable at end of year, Remaining Contractual Term	3 years 9 months 14 days
Stock Option Amounts
Outstanding at end of year, Aggregate Intrinsic Value	$ 497.2
Exercisable at end of year, Aggregate Intrinsic Value	$ 436.9
Weighted-average grant-date fair values (in dollars per share)	$ 89.20	$ 62.73	$ 35.83
Intrinsic value of options exercised	$ 169	$ 318	$ 398
Cash received from exercises	63	148	331
Tax benefit from exercises	$ 39	$ 71	$ 93

STOCK OPTION AND RESTRICTED S_5

STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS - Restricted Stock Units Granted (Details) - $ / shares	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Restricted Stock Units Subject to Service-based Conditions
Share-based Compensation, Aggregate Disclosures
Restricted stock units granted, weighted-average fair value (in dollars per unit)	$ 347.59	$ 258.86	$ 168.94
Restricted Stock Units Subject to Performance/Service-based Conditions
Share-based Compensation, Aggregate Disclosures
Restricted stock units granted, weighted-average fair value (in dollars per unit)	$ 331.47	$ 245.73	$ 160.81

STOCK OPTION AND RESTRICTED S_6

STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS - Restricted Stock Units Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Restricted Stock Units Subject to Service-based Conditions
Restricted Shares - Shares
Nonvested at beginning of year (in shares)	486
Granted (in shares)	139
Vested (in shares)	(208)
Forfeited (in shares)	(13)
Nonvested at end of year (in shares)	404	486
Nonvested Restricted Shares - Grant-Date Fair Value, Weighted-averages
Nonvested weighted-average grant-date fair value, at beginning of year (in dollars per share)	$ 190.87
Granted, weighted-average grant-date fair value (in dollars per share)	347.59	$ 258.86	$ 168.94
Vested, weighted-average grant-date fair value (in dollars per share)	173.62
Forfeited, weighted average grant-date fair value (in dollars per share)	259.72
Nonvested weighted-average grant-date fair value, at end of year (in dollars per share)	$ 251.42	$ 190.87
Restricted Stock Units Subject to Performance/Service-based Conditions
Restricted Shares - Shares
Nonvested at beginning of year (in shares)	197
Granted (in shares)	37
Vested (in shares)	(168)
Performance change (in shares)	84
Forfeited (in shares)	(7)
Nonvested at end of year (in shares)	143	197
Nonvested Restricted Shares - Grant-Date Fair Value, Weighted-averages
Nonvested weighted-average grant-date fair value, at beginning of year (in dollars per share)	$ 171.82
Granted, weighted-average grant-date fair value (in dollars per share)	331.47	$ 245.73	$ 160.81
Vested, weighted-average grant-date fair value (in dollars per share)	139.37
Performance change, weighted-average grant-date fair value (in dollars per share)	139.37
Forfeited, weighted average grant-date fair value (in dollars per share)	267.13
Nonvested weighted-average grant-date fair value, at end of year (in dollars per share)	$ 227.70	$ 171.82

OTHER COMPREHENSIVE INCOME IT_3

OTHER COMPREHENSIVE INCOME ITEMS - After-Tax Components (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 20,262	$ 18,431
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(3,056)	(2,539)	$ (5,539)
Retirement Benefits Adjustment
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(389)	(1,034)	(3,918)
Cumulative Translation Adjustment
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(2,594)	(1,478)	(1,596)
Unrealized Gain (Loss) on Derivatives
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	21	(42)	(58)
Unrealized Gain (Loss) on Debt Securities
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (94)	$ 15	$ 33

OTHER COMPREHENSIVE INCOME IT_4

OTHER COMPREHENSIVE INCOME ITEMS - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Other Comprehensive Income (Loss), Before Tax
Equity in (income) loss of unconsolidated affiliates	$ 10	$ 21	$ (48)
Interest expense	(1,062)	(993)	(1,247)
Other operating expenses	(1,275)	(1,343)	(1,612)
Total other comprehensive income (loss), before tax	(298)	3,923	83
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	(219)	(923)	(15)
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss), net of income taxes	(517)	3,000	68
Cumulative Translation Adjustment
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax		112	18
Total other comprehensive income (loss), before tax	(1,105)	118	54
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit			1
Total other comprehensive income (loss), tax (expense) credit	(11)		1
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax		112	19
Other comprehensive income (loss), net of income taxes	(1,116)	118	55
Cumulative Translation Adjustment \| Reclassification out of Accumulated Other Comprehensive Income (Loss) \| Other Operating Expenses
Other Comprehensive Income (Loss), Before Tax
Other operating expenses			13
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax			13
Cumulative Translation Adjustment \| Reclassification out of Accumulated Other Comprehensive Income (Loss) \| Equity in (Income) Loss of Unconsolidated Affiliates
Other Comprehensive Income (Loss), Before Tax
Equity in (income) loss of unconsolidated affiliates		6	23
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax		6	23
Unrealized Gain (Loss) on Derivatives
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	89	8	(18)
Total other comprehensive income (loss), before tax	80	21	3
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(19)	(2)	2
Total other comprehensive income (loss), tax (expense) credit	(17)	(5)	(1)
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	70	6	(16)
Other comprehensive income (loss), net of income taxes	63	16	2
Unrealized Gain (Loss) on Derivatives \| Interest Rate Contracts (Swaps) \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Interest expense	(9)	13	21
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	2	(3)	(3)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	(7)	10	18
Unrealized Gain (Loss) on Debt Securities
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	(140)	(21)	17
Total other comprehensive income (loss), before tax	(139)	(21)	17
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	30	3	(3)
Total other comprehensive income (loss), tax (expense) credit	30	3	(3)
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	(110)	(18)	14
Other comprehensive income (loss), net of income taxes	(109)	(18)	14
Unrealized Gain (Loss) on Debt Securities \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other income	1
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	1
Retirement Benefits Adjustment
Other Comprehensive Income (Loss), Before Tax
Total other comprehensive income (loss), before tax	866	3,805	9
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	(221)	(921)	(12)
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss), net of income taxes	645	2,884	(3)
Actuarial Gain (Loss)
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	1,192	3,492	(302)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(298)	(845)	65
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	894	2,647	(237)
Actuarial Gain (Loss) \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	116	283	278
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	(29)	(69)	(68)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	87	214	210
Prior Service Credit (Cost)
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	(517)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	124
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	(393)
Prior Service Credit (Cost) \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	30	8	7
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	(7)	(2)	(2)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	23	6	5
Settlements/curtailments \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	45
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	(11)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	$ 34
Settlements \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other operating expenses		22	26
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit		(5)	(7)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax		$ 17	$ 19

LEASES - Lease Terms (Details)

LEASES - Lease Terms (Details)	12 Months Ended
LEASES - Lease Terms (Details)	Oct. 30, 2022
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	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Lease Expense by Type
Operating lease expense	$ 114	$ 116	$ 126
Short-term lease expense	55	29	23
Variable lease expense	74	53	41
Finance lease:
Depreciation expense	26	26	20
Interest on lease liabilities	1	1	2
Total lease expense	$ 270	$ 225	$ 212

LEASES - Lease Right of Use Ass

LEASES - Lease Right of Use Assets and Liabilities - (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Lessee
Operating leases - Other assets	$ 299	$ 291
Location of operating lease, right-of-use asset	Other assets	Other assets
Operating leases - Accounts payable and accrued expenses	$ 302	$ 279
Location of operating lease, liability	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Finance leases - Property and equipment - net	$ 49	$ 71
Location of finance lease, right-of-use asset	Property and equipment - net	Property and equipment - net
Finance leases - Short-term borrowings	$ 21	$ 23
Location of finance lease, liability, short-term	Short-term borrowings	Short-term borrowings
Finance leases - Long-term borrowings	$ 30	$ 38
Location of finance lease, liability, long-term	Long-term borrowings	Long-term borrowings
Total finance lease liabilities	$ 51	$ 61
Location of finance lease, total liability	Short-term borrowings, Long-term borrowings	Short-term borrowings, Long-term borrowings

LEASES - Weighted Average Remai

LEASES - Weighted Average Remaining Lease Term and Discount Rates - (Details)	Oct. 30, 2022	Oct. 31, 2021
Lessee
Weighted-average remaining lease term - operating leases	7 years	5 years
Weighted-average remaining lease term - finance leases	3 years	2 years
Weighted-average discount rate - operating leases (as a percent)	2.40%	2.30%
Weighted-average discount rate - finance leases (as a percent)	1.90%	2.30%

LEASES - Lease Payments - (Deta

LEASES - Lease Payments - (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Operating Leases
2023	$ 95
2024	77
2025	54
2026	27
2027	17
Later years	53
Total lease payments	323
Less imputed interest	21
Total operating lease liabilities	$ 302	$ 279
Location of operating lease, liability	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Finance Leases
2023	$ 22
2024	14
2025	7
2026	3
2027	2
Later years	6
Total lease payments	54
Less imputed interest	3
Total finance lease liabilities	$ 51	$ 61
Location of finance lease, total liability	Short-term borrowings, Long-term borrowings	Short-term borrowings, Long-term borrowings

LEASES - Right of Use Assets Ob

LEASES - Right of Use Assets Obtained in Exchange for Lease Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Cash Paid Amounts Included in the Measurement of Lease Liabilities
Operating cash flows for operating leases	$ 127	$ 104	$ 124
Operating cash flows for finance leases	1	1	2
Financing cash flows for finance leases	28	25	$ 17
Right of Use Assets Obtained in Exchange for Lease Liabilities
Operating leases	135	101
Finance leases	$ 17	$ 27

LEASES - Lessor Lease Terms (De

LEASES - Lessor Lease Terms (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 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
Elected to combine lease and nonlease components	true
Elected to report consideration related to sales and value added taxes net of the related tax expense	true
Other Operating Expenses
Lessor
Equipment on operating leases impairment, pretax			$ 22
Other Income
Lessor
Excess use and damage fees	$ 2	$ 7	$ 8

LEASES - Lease Revenues (Detail

LEASES - Lease Revenues (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Lease Revenues (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Lessor
Sales-type and direct finance lease revenues	$ 154	$ 145	$ 135
Operating lease revenues	1,318	1,423	1,469
Variable lease revenues	26	30	31
Total lease revenues	$ 1,498	$ 1,598	$ 1,635

LEASES - Sales-type and Direct

LEASES - Sales-type and Direct Financing Lease Receivables (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Sales-type and Direct Financing Lease Receivables
Total sales-type and direct financing lease receivables	$ 2,285	$ 2,415
Guaranteed residual values	491	394
Unguaranteed residual values	56	70
Less unearned finance income	(285)	(258)
Financing lease receivables	2,547	2,621
Agriculture and Turf
Sales-type and Direct Financing Lease Receivables
Total sales-type and direct financing lease receivables	1,118	1,131
Construction and Forestry
Sales-type and Direct Financing Lease Receivables
Total sales-type and direct financing lease receivables	$ 1,167	$ 1,284

LEASES - Scheduled Payments on

LEASES - Scheduled Payments on Sales-type and Direct Financing Leases Receivables (Details) $ in Millions	Oct. 30, 2022 USD ($)
Payments on Sales-type and Direct Financing Leases Receivables
2023	$ 1,310
2024	722
2025	404
2026	200
2027	120
Later years	20
Total	$ 2,776

LEASES - Cost of Equipment on O

LEASES - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 8,254	$ 8,933
Less accumulated depreciation	(1,631)	(1,945)
Equipment on operating leases - net	6,623	6,988
Operating lease residual value	4,640	5,025
Operating lease residual value guarantees	1,025	950
Depreciation expense for equipment on operating leases	827	983	$ 1,083
Agriculture and Turf
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	6,912	7,317
Construction and Forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 1,342	$ 1,616

LEASES - Lease Payments for Equ

LEASES - Lease Payments for Equipment on Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Nov. 01, 2020	Oct. 31, 2021
Lease Payments for Equipment on Operating Leases
2023	$ 974
2024	709
2025	437
2026	228
2027	58
Later years	6
Total	$ 2,412
Minimum number of days for an operating lease receivable to be considered past due	30 days
Operating leases past due	$ 68		$ 70
Other Operating Expenses
Lease Payments for Equipment on Operating Leases
Impairment losses on matured operating lease inventory		$ 10

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Instruments (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Fair Values of Financial Instruments
Short-term securitization borrowings	$ 5,711	$ 4,605
Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	36,634	33,799
Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 5,936	$ 4,659
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings
Level 2
Fair Values of Financial Instruments
Short-term securitization borrowings	$ 5,577	$ 4,610
Long-term borrowings due within one year	7,322	8,364
Long-term borrowings	31,852	34,506
Level 3 \| Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	35,526	33,718
Level 3 \| Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 5,698	$ 4,704
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings
Carrying Value
Fair Values of Financial Instruments
Short-term securitization borrowings	$ 5,711	$ 4,605
Long-term borrowings due within one year	7,466	8,330
Long-term borrowings	33,566	32,850
Carrying Value \| Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	36,634	33,799
Carrying Value \| Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 5,936	$ 4,659
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liaibilities - Recurring (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	$ 734	$ 728
Derivative assets (Note 26)	373	275
Derivative liabilities	1,231	228
Other Assets Member
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets (Note 26)	373	275
Accounts Payable and Accrued Expenses
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative liabilities	1,231	228
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	135	136
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	3	2
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 1 \| U.S. Equity Fund
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	70	75
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	62	59
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	599	592
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Other Assets Member
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets (Note 26)	373	275
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	1,231	228
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	121	139
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	73
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	200	224
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	60	2
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	155	$ 154
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 3 \| Accounts Payable and Accrued Expenses
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Deferred consideration	$ 236

FAIR VALUE MEASUREMENTS - Nonre

FAIR VALUE MEASUREMENTS - Nonrecurring Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020	Jan. 31, 2021
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Other receivables	$ 2,492	$ 1,765
Equipment on operating leases - net	6,623	6,988
Inventories	8,495	6,781
Fair Value, Nonrecurring Measurements \| Level 3
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Losses, Other receivables			$ 2
Losses, Equipment on operating leases - net			22
Inventories	19
Losses, Inventories	19
Property and equipment - net	15			$ 41
Losses, Property and equipment - net	$ 41	$ 44	$ 102
Location of property and equipment - net impairment	Cost of Revenue	Cost of Revenue	Cost of Revenue
Losses, Investments in unconsolidated affiliates			$ 50
Losses, Other intangible assets - net	$ 28		$ 2
Location of intangible asset impairment	Cost of sales		Cost of sales
Other assets				$ 1
Losses, Other assets		$ 6	$ 16

DERIVATIVE INSTRUMENTS - Cash F

DERIVATIVE INSTRUMENTS - Cash Flow Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021
Cash Flow Hedges
Cash flow hedge gain (loss) recorded in OCI expected to be reclassified within twelve months	$ 44
Gains or losses reclassified from OCI to earnings	0
Interest Rate Contracts (Swaps) \| Cash Flow Hedges Member \| Designated as Hedging Instruments
Cash Flow Hedges
Notional amount of cash flow hedge derivatives	$ 1,950	$ 2,700

DERIVATIVE INSTRUMENTS - Fair V

DERIVATIVE INSTRUMENTS - Fair Value Hedges (Details) - Interest Rate Contracts (Swaps) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Fair Value Hedges Member \| Designated as Hedging Instruments
Fair Value Hedges
Notional amount of interest rate fair value hedge derivatives	$ 10,112	$ 8,043
Short-term Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item		191
Cumulative Fair Value Hedging Amount		3
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	2,515	1,997
Cumulative Fair Value Hedging Amount - Discontinued	15	(2)
Long-term Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item	9,060	7,847
Cumulative Fair Value Hedging Amount	(1,006)	29
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	5,520	6,287
Cumulative Fair Value Hedging Amount - Discontinued	$ (19)	$ 223

DERIVATIVE INSTRUMENTS - Not De

DERIVATIVE INSTRUMENTS - Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Interest Rate Contracts (Swaps)
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 10,568	$ 10,848
Foreign Exchange Contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	8,185	7,584
Cross-Currency Interest Rate Contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 260	$ 238

DERIVATIVE INSTRUMENTS - Fair_2

DERIVATIVE INSTRUMENTS - Fair Value (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Fair Value of Derivative Instruments
Total derivative assets	$ 373	$ 275
Total derivative liabilities	1,231	228
Other Assets Member
Fair Value of Derivative Instruments
Total derivative assets	373	275
Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	1,231	228
Designated as Hedging Instruments \| Interest Rate Contracts (Swaps) \| Other Assets Member
Fair Value of Derivative Instruments
Total derivative assets	87	166
Designated as Hedging Instruments \| Interest Rate Contracts (Swaps) \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	1,004	99
Not Designated as Hedging Instruments \| Other Assets Member
Fair Value of Derivative Instruments
Total derivative assets	286	109
Not Designated as Hedging Instruments \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	227	129
Not Designated as Hedging Instruments \| Interest Rate Contracts (Swaps) \| Other Assets Member
Fair Value of Derivative Instruments
Total derivative assets	212	73
Not Designated as Hedging Instruments \| Interest Rate Contracts (Swaps) \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	107	33
Not Designated as Hedging Instruments \| Foreign Exchange Contracts \| Other Assets Member
Fair Value of Derivative Instruments
Total derivative assets	66	31
Not Designated as Hedging Instruments \| Foreign Exchange Contracts \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	118	94
Not Designated as Hedging Instruments \| Cross-Currency Interest Rate Contracts \| Other Assets Member
Fair Value of Derivative Instruments
Total derivative assets	8	5
Not Designated as Hedging Instruments \| Cross-Currency Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Value of Derivative Instruments
Total derivative liabilities	$ 2	$ 2

DERIVATIVE INSTRUMENTS - Gains

DERIVATIVE INSTRUMENTS - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 466	$ (336)	$ 190
Interest Rate Contracts (Swaps)
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	89	8	(18)
Interest Rate Contracts (Swaps) \| Net Sales Related to Derivative Instruments
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	53	13	(23)
Interest Rate Contracts (Swaps) \| Interest Expense Member
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	(1,144)	(236)	496
Cash flow hedges, reclassified from OCI	9	(13)	(21)
Not designated as hedges, gains (losses)	81	14	(2)
Foreign Exchange Contracts \| Net Sales Related to Derivative Instruments
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	(6)
Foreign Exchange Contracts \| Cost of Sales
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	(64)	(101)	93
Foreign Exchange Contracts \| Other Operating Expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 402	$ (262)	$ 122

DERIVATIVE INSTRUMENTS - Counte

DERIVATIVE INSTRUMENTS - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Oct. 30, 2022	Oct. 31, 2021
Derivative instruments
Fair value of derivatives with credit-risk-related contingent features in a liability position	$ 1,113	$ 135
Cash collateral posted	701	0
Derivative Assets
Gross amounts recognized	373	275
Netting arrangements	(179)	(105)
Collateral received	(54)
Net amount	140	170
Derivative Liabilities
Gross amounts recognized	1,231	228
Netting arrangements	(179)	(105)
Collateral paid	(701)	(5)
Net amount	351	118
International Futures Market
Derivative instruments
Collateral to participate in an international futures market	$ 8	$ 8

SEGMENT DATA - Segment Net Sale

SEGMENT DATA - Segment Net Sales and Revenues (Details) $ in Millions	12 Months Ended
	Oct. 30, 2022 USD ($) item	Oct. 31, 2021 USD ($)	Nov. 01, 2020 USD ($)
Operating Segments
Number of major business segments \| item	4
Net Sales and Revenues
Net sales and revenues	$ 52,577	$ 44,024	$ 35,540
Net Sales
Net Sales and Revenues
Net sales and revenues	47,917	39,737	31,272
Other Revenues
Net Sales and Revenues
Other revenues	1,035	739	679
Production & Precision Ag (PPA)
Net Sales and Revenues
Intersegment sales and revenues	19	27	22
Net sales and revenues	22,318	16,817	13,275
Production & Precision Ag (PPA) \| Net Sales
Net Sales and Revenues
Net sales	22,002	16,509	12,962
Small Ag & Turf (SAT)
Net Sales and Revenues
Intersegment sales and revenues	10	11	2
Net sales and revenues	13,569	12,046	9,495
Small Ag & Turf (SAT) \| Net Sales
Net Sales and Revenues
Net sales	13,381	11,860	9,363
Construction & Forestry (CF)
Net Sales and Revenues
Intersegment sales and revenues	1	0	1
Net sales and revenues	13,065	11,613	9,181
Construction & Forestry (CF) \| Net Sales
Net Sales and Revenues
Net sales	12,534	11,368	8,947
Financial Services (FS)
Net Sales and Revenues
Intersegment sales and revenues	460	246	278
Financial revenues	$ 3,625	$ 3,548	$ 3,589

SEGMENT DATA - Segment Operatin

SEGMENT DATA - Segment Operating Profit (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Operating Profit (Loss)
Operating profit	$ 9,508	$ 8,012	$ 4,305
Interest income	2,027	1,854	1,962
Interest expense	(1,062)	(993)	(1,247)
Pension and OPEB benefit (costs), excluding service cost component	218	183	31
Income taxes	(2,007)	(1,658)	(1,082)
Net Income	7,130	5,965	2,753
Less: Net income (loss) attributable to noncontrolling interests	(1)	2	2
Net Income Attributable to Deere & Company	7,131	5,963	2,751
Production & Precision Ag (PPA)
Operating Profit (Loss)
Operating profit	4,386	3,334	1,969
Small Ag & Turf (SAT)
Operating Profit (Loss)
Operating profit	1,949	2,045	1,000
Construction & Forestry (CF)
Operating Profit (Loss)
Operating profit	2,014	1,489	590
Financial Services (FS)
Operating Profit (Loss)
Operating profit	1,159	1,144	746
Corporate
Operating Profit (Loss)
Interest income	159	82	62
Interest expense	(390)	(368)	(329)
Foreign exchange gain (loss) from equipment operations' financing activities	(103)	(45)	17
Pension and OPEB benefit (costs), excluding service cost component	$ 218	$ 183	$ 31
Location of pension and OPEB benefit (cost), excluding service cost component	Other operating expenses	Other operating expenses	Other operating expenses
Corporate expenses - net	$ (255)	$ (241)	$ (251)
Income taxes	(2,007)	(1,658)	(1,082)
Total	$ (2,378)	$ (2,047)	$ (1,552)

SEGMENT DATA - Segment Interest

SEGMENT DATA - Segment Interest Income and Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Operating Segments
Interest income	$ 2,027	$ 1,854	$ 1,962
Interest expense	1,062	993	1,247
Operating Segment \| Production & Precision Ag (PPA)
Operating Segments
Interest income	22	21	22
Interest expense	122	84	76
Operating Segment \| Small Ag & Turf (SAT)
Operating Segments
Interest income	24	21	16
Interest expense	105	87	111
Operating Segment \| Construction & Forestry (CF)
Operating Segments
Interest income	8	10	12
Interest expense	72	46	61
Operating Segment \| Financial Services (FS)
Operating Segments
Interest income	2,245	1,999	2,122
Interest expense	799	687	942
Corporate
Operating Segments
Interest income	159	82	62
Interest expense	390	368	329
Intercompany Eliminations
Operating Segments
Interest income	(431)	(279)	(272)
Interest expense	$ (426)	$ (279)	$ (272)

SEGMENT DATA - Segment Other Di

SEGMENT DATA - Segment Other Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020
Operating Segments
Depreciation and amortization expense	$ 1,895	$ 2,050	$ 2,118
Equity in income (loss) of unconsolidated affiliates	10	21	(48)
Identifiable operating assets	90,030	84,114	75,091
Capital additions	1,197	897	815
Investments in unconsolidated affiliates	117	175	193
Production & Precision Ag (PPA)
Operating Segments
Depreciation and amortization expense	523	495	480
Identifiable operating assets	8,414	7,021	5,708
Capital additions	649	458	431
Investments in unconsolidated affiliates	10		1
Small Ag & Turf (SAT)
Operating Segments
Depreciation and amortization expense	236	245	247
Equity in income (loss) of unconsolidated affiliates	1	2	2
Identifiable operating assets	4,451	3,959	3,266
Capital additions	329	253	223
Investments in unconsolidated affiliates	84	31	29
Construction & Forestry (CF)
Operating Segments
Depreciation and amortization expense	282	303	289
Equity in income (loss) of unconsolidated affiliates	5	16	(52)
Identifiable operating assets	6,754	6,457	6,322
Capital additions	217	183	157
Investments in unconsolidated affiliates		122	144
Financial Services (FS)
Operating Segments
Depreciation and amortization expense	1,050	1,140	1,227
Equity in income (loss) of unconsolidated affiliates	4	3	2
Identifiable operating assets	58,864	51,624	48,719
Capital additions	2	3	4
Investments in unconsolidated affiliates	23	22	19
Intercompany Eliminations
Operating Segments
Depreciation and amortization expense	(196)	(133)	(125)
Corporate
Operating Segments
Identifiable operating assets	$ 11,547	$ 15,053	$ 11,076

SUBSEQUENT EVENTS - (Details)

SUBSEQUENT EVENTS - (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Dec. 07, 2022	Oct. 30, 2022	Oct. 31, 2021	Nov. 01, 2020	Dec. 25, 2022
Subsequent Events
Quarterly dividend declared (in dollars per share)		$ 4.36	$ 3.61	$ 3.04
December 2019 Plan
Subsequent Events
Repurchase of common stock shares, maximum authorization (in dollars)		$ 8,000
Common stock shares remaining to be repurchased under repurchase plan (in dollars)		$ 2,228
Subsequent Event
Subsequent Events
Quarterly dividend declared (in dollars per share)	$ 1.20
Subsequent Event \| December 2022 Plan
Subsequent Events
Repurchase of common stock shares, maximum authorization (in dollars)					$ 18,000