Deere & Company (DE) 10-Q 29 Feb 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Jan. 28, 2024 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jan. 28, 2024
Entity File Number	1-4121
Entity Registrant Name	DEERE & CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2382580
Entity Address, Address Line One	One John Deere Place
Entity Address, City or Town	Moline
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61265
City Area Code	309
Local Phone Number	765-8000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	278,358,210
Current Fiscal Year End Date	--10-27
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
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	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Net Sales and Revenues
Net sales and revenues	$ 12,185	$ 12,652
Costs and Expenses
Research and development expenses	533	495
Selling, administrative and general expenses	1,066	952
Interest expense	802	479
Other operating expenses	369	299
Total	9,970	10,159
Income of Consolidated Group before Income Taxes	2,215	2,493
Provision for income taxes	469	537
Income of Consolidated Group	1,746	1,956
Equity in income of unconsolidated affiliates	2	1
Net Income	1,748	1,957
Less: Net loss attributable to noncontrolling interests	(3)	(2)
Net Income Attributable to Deere & Company	$ 1,751	$ 1,959
Per Share Data
Basic (in dollars per share)	$ 6.25	$ 6.58
Diluted (in dollars per share)	6.23	6.55
Dividends declared (in dollars per share)	1.47	1.20
Dividends paid (in dollars per share)	$ 1.35	$ 1.13
Average Shares Outstanding
Basic (in shares)	279.9	297.6
Diluted (in shares)	281.1	299.1
Net Sales
Net Sales and Revenues
Net sales and revenues	$ 10,486	$ 11,402
Cost of Sales
Cost of sales	7,200	7,934
Finance and Interest Income
Net Sales and Revenues
Net sales and revenues	1,360	994
Other income
Net Sales and Revenues
Net sales and revenues	$ 339	$ 256

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME
Net Income	$ 1,748	$ 1,957
Other Comprehensive Income (Loss), Net of Income Taxes
Retirement benefits adjustment	(21)	(11)
Cumulative translation adjustment	274	681
Unrealized loss on derivatives	(15)	(13)
Unrealized gain on debt securities	13	27
Other Comprehensive Income, Net of Income Taxes	251	684
Comprehensive Income of Consolidated Group	1,999	2,641
Less: Comprehensive income (loss) attributable to noncontrolling interests	(2)	6
Comprehensive Income Attributable to Deere & Company	$ 2,001	$ 2,635

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
ASSETS
Cash and cash equivalents	$ 5,137	$ 7,458	$ 3,976
Marketable securities	1,136	946	852
Trade accounts and notes receivable - net	7,795	7,739	7,609
Other receivables	2,017	2,623	1,992
Equipment on operating leases - net	6,751	6,917	6,502
Inventories	8,937	8,160	10,056
Property and equipment - net	6,914	6,879	6,212
Goodwill	3,966	3,900	3,891
Other intangible assets - net	1,112	1,133	1,255
Retirement benefits	3,087	3,007	3,793
Deferred income taxes	1,833	1,814	914
Other assets	2,578	2,503	2,597
Total Assets	101,371	104,087	91,620
LIABILITIES
Short-term borrowings	17,117	17,939	14,129
Short-term securitization borrowings	6,116	6,995	4,864
Accounts payable and accrued expenses	13,361	16,130	13,108
Deferred income taxes	550	520	519
Long-term borrowings	39,933	38,477	35,071
Retirement benefits and other liabilities	2,115	2,140	2,493
Total liabilities	79,192	82,201	70,184
Commitments and contingencies (Note 16)
Redeemable noncontrolling interest	100	97	100
STOCKHOLDERS' EQUITY
Common stock, $1 par value (issued shares at January 28, 2024 - 536,431,204)	5,335	5,303	5,191
Common stock in treasury	(32,663)	(31,335)	(25,333)
Retained earnings	52,266	50,931	43,846
Accumulated other comprehensive income (loss)	(2,863)	(3,114)	(2,372)
Total Deere & Company stockholders' equity	22,075	21,785	21,332
Noncontrolling interests	4	4	4
Total stockholders' equity	22,079	21,789	21,336
Total Liabilities and Stockholders' Equity	101,371	104,087	91,620
Unrestricted
ASSETS
Financing receivables - net	43,708	43,673	36,882
Securitized
ASSETS
Financing receivables - net	$ 6,400	$ 7,335	$ 5,089
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings	Short-term securitization borrowings
Other assets	$ 140	$ 152	$ 97
Total Assets	$ 6,540	$ 7,487	$ 5,186

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)	Jan. 28, 2024 $ / shares shares
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share) | $ / shares	$ 1
Common stock, issued shares | shares	536,431,204

STATEMENTS OF CONSOLIDATED CASH

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Cash Flows from Operating Activities
Net income	$ 1,748	$ 1,957
Adjustments to reconcile net income to net cash used for operating activities:
Provision (credit) for credit losses	31	(130)
Provision for depreciation and amortization	520	494
Share-based compensation expense	46	23
Provision (credit) for deferred income taxes	27	(56)
Changes in assets and liabilities:
Receivables related to sales	(277)	(1,015)
Inventories	(723)	(1,279)
Accounts payable and accrued expenses	(2,327)	(1,577)
Accrued income taxes payable/receivable	183	199
Retirement benefits	(129)	(48)
Other	(7)	186
Net cash used for operating activities	(908)	(1,246)
Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales)	7,752	7,198
Proceeds from sales of equipment on operating leases	506	497
Cost of receivables acquired (excluding receivables related to sales)	(6,447)	(6,322)
Purchases of property and equipment	(362)	(315)
Cost of equipment on operating leases acquired	(454)	(497)
Collateral on derivatives - net	310	345
Other	(88)	(146)
Net cash provided by investing activities	1,217	760
Cash Flows from Financing Activities
Net proceeds (payments) in short-term borrowings (original maturities three months or less)	(2,951)	697
Proceeds from borrowings issued (original maturities greater than three months)	5,287	2,505
Payments of borrowings (original maturities greater than three months)	(3,237)	(1,925)
Repurchases of common stock	(1,328)	(1,257)
Dividends paid	(386)	(341)
Other	(30)	(18)
Net cash used for financing activities	(2,645)	(339)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	16	62
Net Decrease in Cash, Cash Equivalents, and Restricted Cash	(2,320)	(763)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	7,620	4,941
Cash, Cash Equivalents, and Restricted Cash at End of Period	5,300	4,178
Components of Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents	5,137	3,976
Restricted cash (Other assets)	$ 163	$ 202
Balance sheet location of restricted cash	Other assets	Other assets
Total Cash, Cash Equivalents, and Restricted Cash	$ 5,300	$ 4,178

STATEMENTS OF CHANGES IN CONSOL

STATEMENTS OF CHANGES IN CONSOLIDATED STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Common Stock	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Total
Balance at Oct. 30, 2022	$ 5,165		$ 42,247	$ (3,056)	$ 3	$ 20,265
Balance at Oct. 30, 2022		$ (24,094)
Increase (Decrease) in Stockholders' Equity
Net income			1,959		1	1,960
Other comprehensive income				684		684
Repurchases of common stock		(1,257)				(1,257)
Treasury shares reissued		18				18
Dividends declared			(356)			(356)
Share based awards and other	26		(4)			22
Balance at Jan. 29, 2023	5,191		43,846	(2,372)	4	21,336
Balance at Jan. 29, 2023		(25,333)				(25,333)
Redeemable Noncontrolling Interest - Balance at Oct. 30, 2022						92
Increase (Decrease) in Redeemable Noncontrolling Interest
Net loss						(3)
Other comprehensive income						8
Other						3
Redeemable Noncontrolling Interest - Balance at Jan. 29, 2023						100
Balance at Oct. 29, 2023	5,303		50,931	(3,114)	4	21,789
Balance at Oct. 29, 2023		(31,335)				(31,335)
Increase (Decrease) in Stockholders' Equity
Net income			1,751		1	1,752
Other comprehensive income				251		251
Repurchases of common stock		(1,340)				(1,340)
Treasury shares reissued		12				12
Dividends declared			(411)			(411)
Share based awards and other	32		(5)		(1)	26
Balance at Jan. 28, 2024	$ 5,335		$ 52,266	$ (2,863)	$ 4	22,079
Balance at Jan. 28, 2024		$ (32,663)				(32,663)
Redeemable Noncontrolling Interest - Balance at Oct. 29, 2023						97
Increase (Decrease) in Redeemable Noncontrolling Interest
Net loss						(4)
Other comprehensive income						1
Other						6
Redeemable Noncontrolling Interest - Balance at Jan. 28, 2024						$ 100

ORGANIZATION AND CONSOLIDATION

ORGANIZATION AND CONSOLIDATION	3 Months Ended
	Jan. 28, 2024
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 more than 185 years. References to “Deere & Company,” “John Deere,” “we,” “us,” or “our” include our consolidated subsidiaries. We manage our business 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 “agriculture and turf” include both PPA and SAT. We use a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The first quarter ends for fiscal year 2024 and 2023 were January 28, 2024 and January 29, 2023, respectively. Both periods contained 13 weeks. Unless otherwise stated, references to particular years, quarters, or months refer to our fiscal years generally ending in October and the associated periods in those fiscal years. All amounts are presented in millions of dollars, unless otherwise specified. ​

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS	3 Months Ended
	Jan. 28, 2024
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 Quarterly Financial Statements T Use of Estimates in Financial Statements Certain accounting policies require management to make estimates and assumptions in determining the amounts reflected in the financial statements and related disclosures. Actual results could differ from those estimates. New Accounting Standards We closely monitor all Accounting Standard Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) and other authoritative guidance. We adopted the following standards in 2024, none of which had a material effect on our consolidated financial statements. ​ ​ Accounting Standards Adopted ​ 2022-04 — Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations ​ 2022-02 — Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ​ 2022-01 — Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method ​ 2021-08 — Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ​ Accounting Standards to be Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and cash taxes paid both in the U.S. and foreign jurisdictions. The effective date of the ASU is fiscal year 2026. We are assessing the effect of this update on our related disclosures. We will also adopt the following standards in future periods, none of which are expected to have a material effect on our consolidated financial statements. ​ ​ 2023-07 — Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ​ 2023-06 — Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative ​ 2023-05 — Business Combinations – Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement ​ 2022-03 — Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions ​ ​

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Jan. 28, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	(3)    Revenue Recognition Our net sales and revenues by primary geographic market, major product line, and timing of revenue recognition follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 28, 2024 ​ ​ ​ Production & Precision Ag ​ Small Ag & Turf ​ Construction & Forestry ​ Financial Services ​ Total ​ Primary geographic markets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 2,721 ​ $ 1,345 ​ $ 2,095 ​ $ 970 ​ $ 7,131 ​ Canada ​ ​ 386 ​ ​ 118 ​ ​ 210 ​ 172 ​ 886 ​ Western Europe ​ ​ 503 ​ ​ 517 ​ ​ 361 ​ 40 ​ 1,421 ​ Central Europe and CIS ​ ​ 179 ​ ​ 73 ​ ​ 94 ​ 8 ​ 354 ​ Latin America ​ ​ 819 ​ ​ 98 ​ ​ 256 ​ 130 ​ 1,303 ​ Asia, Africa, Oceania, and Middle East ​ ​ 435 ​ ​ 341 ​ ​ 258 ​ ​ 56 ​ ​ 1,090 ​ Total ​ $ 5,043 ​ $ 2,492 ​ $ 3,274 ​ $ 1,376 ​ $ 12,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Major product lines: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production agriculture ​ $ 4,791 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,791 ​ Small agriculture ​ ​ ​ ​ $ 1,718 ​ ​ ​ ​ ​ ​ 1,718 ​ Turf ​ ​ ​ ​ ​ 649 ​ ​ ​ ​ ​ ​ 649 ​ Construction ​ ​ ​ ​ ​ ​ ​ $ 1,483 ​ ​ ​ 1,483 ​ Compact construction ​ ​ ​ ​ ​ ​ ​ ​ 626 ​ ​ ​ ​ ​ 626 ​ Roadbuilding ​ ​ ​ ​ ​ ​ ​ ​ 763 ​ ​ ​ 763 ​ Forestry ​ ​ ​ ​ ​ ​ ​ ​ 292 ​ ​ ​ 292 ​ Financial products ​ ​ 60 ​ ​ 26 ​ ​ 18 ​ $ 1,376 ​ 1,480 ​ Other ​ ​ 192 ​ ​ 99 ​ ​ 92 ​ ​ ​ 383 ​ Total ​ $ 5,043 ​ $ 2,492 ​ $ 3,274 ​ $ 1,376 ​ $ 12,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue recognized: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point in time ​ $ 4,955 ​ $ 2,456 ​ $ 3,243 ​ $ 28 ​ $ 10,682 ​ Over time ​ ​ 88 ​ ​ 36 ​ ​ 31 ​ ​ 1,348 ​ ​ 1,503 ​ Total ​ $ 5,043 ​ $ 2,492 ​ $ 3,274 ​ $ 1,376 ​ $ 12,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 29, 2023 ​ ​ ​ Production & Precision Ag ​ Small Ag & Turf ​ Construction & Forestry ​ Financial Services ​ Total ​ Primary geographic markets: ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 2,628 ​ $ 1,665 ​ $ 1,901 ​ $ 713 ​ $ 6,907 ​ Canada ​ ​ 360 ​ ​ 146 ​ ​ 275 ​ 150 ​ 931 ​ Western Europe ​ ​ 501 ​ ​ 564 ​ ​ 365 ​ 29 ​ 1,459 ​ Central Europe and CIS ​ ​ 202 ​ ​ 123 ​ ​ 75 ​ 12 ​ 412 ​ Latin America ​ ​ 1,237 ​ ​ 156 ​ ​ 339 ​ 95 ​ 1,827 ​ Asia, Africa, Oceania, and Middle East ​ ​ 375 ​ ​ 400 ​ ​ 300 ​ ​ 41 ​ ​ 1,116 ​ Total ​ $ 5,303 ​ $ 3,054 ​ $ 3,255 ​ $ 1,040 ​ $ 12,652 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Major product lines: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production agriculture ​ $ 5,112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 5,112 ​ Small agriculture ​ ​ ​ ​ $ 2,194 ​ ​ ​ ​ ​ ​ 2,194 ​ Turf ​ ​ ​ ​ ​ 719 ​ ​ ​ ​ ​ ​ 719 ​ Construction ​ ​ ​ ​ ​ ​ ​ $ 1,483 ​ ​ ​ 1,483 ​ Compact construction ​ ​ ​ ​ ​ ​ ​ ​ 473 ​ ​ ​ ​ ​ 473 ​ Roadbuilding ​ ​ ​ ​ ​ ​ ​ ​ 818 ​ ​ ​ 818 ​ Forestry ​ ​ ​ ​ ​ ​ ​ ​ 356 ​ ​ ​ 356 ​ Financial products ​ ​ 31 ​ ​ 18 ​ ​ 13 ​ $ 1,040 ​ 1,102 ​ Other ​ ​ 160 ​ ​ 123 ​ ​ 112 ​ ​ ​ 395 ​ Total ​ $ 5,303 ​ $ 3,054 ​ $ 3,255 ​ $ 1,040 ​ $ 12,652 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue recognized: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point in time ​ $ 5,248 ​ $ 3,029 ​ $ 3,230 ​ $ 23 ​ $ 11,530 ​ Over time ​ ​ 55 ​ ​ 25 ​ ​ 25 ​ ​ 1,017 ​ ​ 1,122 ​ Total ​ $ 5,303 ​ $ 3,054 ​ $ 3,255 ​ $ 1,040 ​ $ 12,652 ​ ​ We invoice 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, telematic services, and other information enabled solutions. These advanced customer payments are presented as deferred revenue, a contract liability, in “Accounts payable and accrued expenses.” The deferred revenue received, but not recognized in revenue, was $1,747, $1,697, and $1,502 at January 28, 2024, October 29, 2023, and January 29, 2023, respectively. The contract liability is reduced as the revenue is recognized. During the three months ended January 28, 2024 and January 29, 2023, $230 and $215, respectively, of revenue was recognized from deferred revenue that was recorded as a contract liability at the beginning of the respective fiscal year. The amount of unsatisfied performance obligations for contracts with an original duration greater than one year was $1,531 at January 28, 2024. The estimated revenue to be recognized by fiscal year follows: remainder of 2024 2025 2026 2027 2028 2029 later years ​

OTHER COMPREHENSIVE INCOME ITEM

OTHER COMPREHENSIVE INCOME ITEMS	3 Months Ended
	Jan. 28, 2024
OTHER COMPREHENSIVE INCOME ITEMS
OTHER COMPREHENSIVE INCOME ITEMS	(4)    Other Comprehensive Income Items The after-tax components of accumulated other comprehensive income (loss) follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 ​ October 29 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ 2023 ​ Retirement benefits adjustment ​ $ (866) ​ $ (845) ​ $ (400) ​ Cumulative translation adjustment ​ ​ (1,877) ​ ​ (2,151) ​ ​ (1,913) ​ Unrealized gain (loss) on derivatives ​ ​ (23) ​ ​ (8) ​ ​ 8 ​ Unrealized loss on debt securities ​ ​ (97) ​ ​ (110) ​ ​ (67) ​ Total accumulated other comprehensive income (loss) ​ $ (2,863) ​ $ (3,114) ​ $ (2,372) ​ ​ The following tables reflect amounts recorded in other comprehensive income (loss), as well as reclassifications out of other comprehensive income (loss). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended January 28, 2024 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ 273 ​ $ 1 ​ $ 274 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ ​ (8) ​ ​ 2 ​ ​ (6) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ ​ (11) ​ ​ 2 ​ ​ (9) ​ Net unrealized gain (loss) on derivatives ​ ​ (19) ​ ​ 4 ​ ​ (15) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ 1 ​ ​ 6 ​ ​ 7 ​ Reclassification of realized (gain) loss – Other income ​ ​ 8 ​ ​ (2) ​ ​ 6 ​ Net unrealized gain (loss) on debt securities ​ ​ 9 ​ ​ 4 ​ ​ 13 ​ Retirement benefits adjustment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net actuarial gain (loss) ​ ​ (17) ​ ​ 4 ​ ​ (13) ​ Reclassification to Other operating expenses through amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial (gain) loss ​ ​ (20) ​ ​ 5 ​ ​ (15) ​ Prior service (credit) cost ​ ​ 9 ​ ​ (2) ​ ​ 7 ​ Net unrealized gain (loss) on retirement benefits adjustment ​ ​ (28) ​ ​ 7 ​ ​ (21) ​ Total other comprehensive income (loss) $ 235 ​ $ 16 ​ $ 251 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended January 29, 2023 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ 669 ​ $ 12 ​ $ 681 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ ​ (15) ​ ​ 3 ​ ​ (12) ​ Net unrealized gain (loss) on derivatives ​ ​ (16) ​ ​ 3 ​ ​ (13) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ 34 ​ ​ (7) ​ ​ 27 ​ Net unrealized gain (loss) on debt securities ​ ​ 34 ​ ​ (7) ​ ​ 27 ​ Retirement benefits adjustment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net actuarial gain (loss) ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ Reclassification to Other operating expenses through amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial (gain) loss ​ ​ (21) ​ ​ 5 ​ ​ (16) ​ Prior service (credit) cost ​ ​ 9 ​ ​ (3) ​ ​ 6 ​ Net unrealized gain (loss) on retirement benefits adjustment ​ ​ (13) ​ ​ 2 ​ ​ (11) ​ Total other comprehensive income (loss) $ 674 ​ $ 10 ​ $ 684 ​ ​

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Jan. 28, 2024
EARNINGS PER SHARE
EARNINGS PER SHARE	(5)    Earnings Per Share A reconciliation of basic and diluted net income per share attributable to Deere & Company follows in millions, except per share amounts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ January 28 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ Net income attributable to Deere & Company $ 1,751 $ 1,959 ​ Average shares outstanding ​ ​ 279.9 ​ 297.6 ​ Basic per share ​ $ 6.25 ​ $ 6.58 ​ ​ ​ ​ ​ ​ ​ ​ ​ Average shares outstanding ​ ​ 279.9 ​ 297.6 ​ Effect of dilutive stock options and restricted stock awards ​ ​ 1.2 ​ 1.5 ​ Total potential shares outstanding ​ ​ 281.1 ​ 299.1 ​ Diluted per share ​ $ 6.23 ​ $ 6.55 ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares excluded from EPS calculation, as antidilutive ​ ​ .2 ​ ​ .1 ​ ​

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	3 Months Ended
	Jan. 28, 2024
PENSION AND OTHER POSTRETIREMENT BENEFITS
PENSION AND OTHER POSTRETIREMENT BENEFITS	(6)    Pension and Other Postretirement Benefits We have several funded and unfunded defined benefit pension plans and other postretirement benefit (OPEB) plans. These plans cover U.S. employees and certain foreign employees. The components of net periodic pension and OPEB (benefit) cost consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ January 28 ​ January 29 ​ ​ 2024 ​ 2023 Pensions ​ ​ ​ ​ ​ ​ ​ Service cost $ 58 $ 60 ​ Interest cost ​ ​ 136 ​ 133 ​ Expected return on plan assets ​ ​ (241) ​ (212) ​ Amortization of actuarial gain ​ ​ (4) ​ (5) ​ Amortization of prior service cost ​ ​ 10 ​ 10 ​ Net benefit ​ $ (41) ​ $ (14) ​ ​ ​ ​ ​ ​ ​ ​ ​ OPEB ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 5 ​ $ 7 ​ Interest cost ​ ​ 43 ​ 43 ​ Expected return on plan assets ​ ​ (27) ​ (29) ​ Amortization of actuarial gain ​ ​ (16) ​ (16) ​ Amortization of prior service credit ​ ​ (1) ​ (1) ​ Net cost ​ $ 4 ​ $ 4 ​ ​ The components of net periodic pension and OPEB (benefit) cost excluding the service cost component are included in the line item “Other operating expenses.” During the first three months of 2024, we contributed and expect to contribute the following amounts to our pension and OPEB plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pensions ​ OPEB ​ Contributed $ 24 $ 106 Expected contributions remainder of the year ​ ​ 61 ​ 34 ​ ​ In December 2023, we contributed $60 to a U.S. non-union Voluntary Employees’ Beneficiary Association trust, which is included in the OPEB contributed amount. The contribution will be used to fund salary postretirement health care benefits during the remainder of 2024.

SEGMENT DATA

SEGMENT DATA	3 Months Ended
	Jan. 28, 2024
SEGMENT DATA
SEGMENT DATA	(7)    Segment Data Information relating to operations by operating segment follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ January 28 ​ January 29 ​ % ​ 2024 2023 Change Net sales and revenues: ​ ​ ​ Production & precision ag net sales $ 4,849 ​ $ 5,198 ​ -7 ​ Small ag & turf net sales ​ ​ 2,425 ​ ​ 3,001 ​ -19 ​ Construction & forestry net sales ​ ​ 3,212 ​ 3,203 ​ ​ ​ Financial services revenues ​ ​ 1,376 ​ 1,040 ​ +32 ​ Other revenues ​ ​ 323 ​ 210 ​ +54 ​ Total net sales and revenues $ 12,185 ​ $ 12,652 ​ -4 ​ Operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ Production & precision ag $ 1,045 ​ $ 1,208 ​ -13 ​ Small ag & turf ​ ​ 326 ​ ​ 447 ​ -27 ​ Construction & forestry ​ ​ 566 ​ 625 ​ -9 ​ Financial services ​ ​ 257 ​ 238 ​ +8 ​ Total operating profit ​ ​ 2,194 ​ 2,518 ​ -13 ​ Reconciling items ​ ​ 26 ​ (22) ​ ​ ​ Income taxes ​ ​ (469) ​ (537) ​ -13 ​ Net income attributable to Deere & Company $ 1,751 ​ $ 1,959 ​ -11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intersegment sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ Production & precision ag net sales $ 8 ​ $ 5 ​ +60 ​ Small ag & turf net sales ​ ​ 1 ​ ​ 3 ​ -67 ​ Construction & forestry net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial services revenues ​ ​ 176 ​ 204 ​ -14 ​ Operating profit for PPA, SAT, and CF is income from continuing operations before corporate expenses, certain external interest expenses, certain foreign exchange gains and losses, and income taxes. Operating profit of financial services includes the effect of interest expense and foreign exchange gains and losses. Reconciling items to net income are primarily corporate expenses, certain interest income and expenses, certain foreign exchange gains and losses, pension and OPEB benefit (cost) amounts excluding the service cost component, equity in income of unconsolidated affiliates, and net income attributable to noncontrolling interests. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identifiable operating assets were as follows: ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 ​ Production & precision ag $ 9,059 ​ $ 8,734 ​ $ 9,393 ​ Small ag & turf ​ ​ 4,426 ​ ​ 4,348 ​ ​ 4,893 ​ Construction & forestry ​ ​ 7,371 ​ 7,139 ​ 7,232 ​ Financial services ​ ​ 69,900 ​ 70,732 ​ 59,721 ​ Corporate ​ ​ 10,615 ​ 13,134 ​ 10,381 ​ Total assets $ 101,371 ​ $ 104,087 ​ $ 91,620 ​ ​

FINANCING RECEIVABLES

FINANCING RECEIVABLES	3 Months Ended
	Jan. 28, 2024
FINANCING RECEIVABLES
FINANCING RECEIVABLES	(8)    Financing Receivables We monitor the credit quality of financing receivables based on delinquency status, defined as follows: ● Past due balances represent any payments 30 days or more past the due date. ● Non-performing financing receivables represent receivables for which we have stopped accruing finance income. This generally occurs when receivables are 90 days delinquent. ● Write-offs generally occur when receivables are 120 days delinquent. In these situations, the estimated uncollectible amount is written off to the allowance for credit losses. Any expected recovery is presented as non-performing. The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 3,248 ​ $ 13,626 ​ $ 7,731 ​ $ 4,577 ​ $ 2,032 ​ $ 931 ​ $ 2,798 ​ $ 34,943 ​ 30-59 days past due ​ ​ 5 ​ ​ 122 ​ ​ 66 ​ ​ 47 ​ ​ 22 ​ ​ 11 ​ ​ 71 ​ ​ 344 ​ 60-89 days past due ​ ​ 1 ​ ​ 50 ​ ​ 26 ​ ​ 15 ​ ​ 7 ​ ​ 5 ​ ​ 16 ​ ​ 120 ​ 90+ days past due ​ ​ ​ ​ ​ 1 ​ ​ 1 ​ ​ 3 ​ ​ 4 ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Non-performing ​ ​ ​ ​ ​ 49 ​ ​ 95 ​ ​ 66 ​ ​ 34 ​ ​ 42 ​ ​ 11 ​ ​ 297 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 803 ​ ​ 2,698 ​ ​ 1,743 ​ ​ 911 ​ ​ 276 ​ ​ 109 ​ ​ 101 ​ ​ 6,641 ​ 30-59 days past due ​ ​ 8 ​ ​ 73 ​ ​ 46 ​ ​ 26 ​ ​ 8 ​ ​ 3 ​ ​ 5 ​ ​ 169 ​ 60-89 days past due ​ ​ ​ ​ ​ 26 ​ ​ 20 ​ ​ 13 ​ ​ 6 ​ ​ 3 ​ ​ 2 ​ ​ 70 ​ 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 4 ​ Non-performing ​ ​ 1 ​ ​ 67 ​ ​ 86 ​ ​ 48 ​ ​ 20 ​ ​ 9 ​ ​ 2 ​ ​ 233 ​ Total retail customer receivables ​ $ 4,066 ​ $ 16,712 ​ $ 9,816 ​ $ 5,707 ​ $ 2,409 ​ $ 1,114 ​ $ 3,006 ​ $ 42,830 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 15,191 ​ $ 8,430 ​ $ 5,120 ​ $ 2,334 ​ $ 853 ​ $ 280 ​ $ 4,526 ​ $ 36,734 ​ 30-59 days past due ​ ​ 62 ​ ​ 75 ​ ​ 39 ​ ​ 21 ​ ​ 9 ​ ​ 3 ​ ​ 29 ​ ​ 238 ​ 60-89 days past due ​ ​ 18 ​ ​ 26 ​ ​ 18 ​ ​ 10 ​ ​ 4 ​ ​ 2 ​ ​ 9 ​ ​ 87 ​ 90+ days past due ​ ​ 2 ​ ​ 1 ​ ​ 3 ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Non-performing ​ ​ 30 ​ ​ 78 ​ ​ 62 ​ ​ 33 ​ ​ 22 ​ ​ 22 ​ ​ 8 ​ ​ 255 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,927 ​ ​ 1,961 ​ ​ 1,084 ​ ​ 353 ​ ​ 84 ​ ​ 29 ​ ​ 119 ​ ​ 6,557 ​ 30-59 days past due ​ ​ 49 ​ ​ 34 ​ ​ 27 ​ ​ 9 ​ ​ 4 ​ ​ ​ ​ ​ 4 ​ ​ 127 ​ 60-89 days past due ​ ​ 19 ​ ​ 14 ​ ​ 12 ​ ​ 5 ​ ​ 2 ​ ​ ​ ​ ​ 2 ​ ​ 54 ​ 90+ days past due ​ ​ ​ ​ ​ 6 ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 8 ​ Non-performing ​ ​ 42 ​ ​ 80 ​ ​ 55 ​ ​ 23 ​ ​ 9 ​ ​ 4 ​ ​ 1 ​ ​ 214 ​ Total retail customer receivables ​ $ 18,340 ​ $ 10,705 ​ $ 6,421 ​ $ 2,791 ​ $ 987 ​ $ 341 ​ $ 4,698 ​ $ 44,283 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 2,939 ​ $ 12,435 ​ $ 7,228 ​ $ 3,660 ​ $ 1,600 ​ $ 823 ​ $ 2,753 ​ $ 31,438 ​ 30-59 days past due ​ ​ 2 ​ ​ 39 ​ ​ 39 ​ ​ 54 ​ ​ 13 ​ ​ 44 ​ ​ 28 ​ ​ 219 ​ 60-89 days past due ​ ​ 1 ​ ​ 15 ​ ​ 14 ​ ​ 20 ​ ​ 5 ​ ​ 15 ​ ​ 6 ​ ​ 76 ​ 90+ days past due ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 3 ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Non-performing ​ ​ ​ ​ ​ 40 ​ ​ 58 ​ ​ 41 ​ ​ 27 ​ ​ 34 ​ ​ 8 ​ ​ 208 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 674 ​ ​ 2,692 ​ ​ 1,702 ​ ​ 684 ​ ​ 224 ​ ​ 80 ​ ​ 99 ​ ​ 6,155 ​ 30-59 days past due ​ ​ 2 ​ ​ 18 ​ ​ 29 ​ ​ 36 ​ ​ 16 ​ ​ 52 ​ ​ 5 ​ ​ 158 ​ 60-89 days past due ​ ​ ​ ​ ​ 9 ​ ​ 17 ​ ​ 18 ​ ​ 8 ​ ​ 24 ​ ​ 2 ​ ​ 78 ​ 90+ days past due ​ ​ ​ ​ ​ 1 ​ ​ 2 ​ ​ 1 ​ ​ 2 ​ ​ 1 ​ ​ ​ ​ ​ 7 ​ Non-performing ​ ​ ​ ​ ​ 46 ​ ​ 58 ​ ​ 30 ​ ​ 16 ​ ​ 7 ​ ​ 1 ​ ​ 158 ​ Total retail customer receivables ​ $ 3,618 ​ $ 15,296 ​ $ 9,147 ​ $ 4,547 ​ $ 1,912 ​ $ 1,080 ​ $ 2,902 ​ $ 38,502 ​ ​ The credit quality analysis of wholesale receivables by year of origination was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Years ​ Revolving ​ Total ​ Wholesale receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 266 ​ $ 463 ​ $ 68 ​ $ 6 ​ $ 3 ​ $ 1 ​ $ 5,757 ​ $ 6,564 ​ 30+ days past due ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 6 ​ ​ 14 ​ ​ 4 ​ ​ 19 ​ ​ ​ ​ ​ 1 ​ ​ 863 ​ ​ 907 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 272 ​ $ 478 ​ $ 72 ​ $ 25 ​ $ 3 ​ $ 3 ​ $ 6,620 ​ $ 7,473 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total ​ Wholesale receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 631 ​ $ 93 ​ $ 21 ​ $ 4 ​ $ 1 ​ $ 160 ​ $ 5,175 ​ $ 6,085 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 23 ​ ​ 5 ​ ​ 20 ​ ​ ​ ​ ​ ​ ​ ​ 76 ​ ​ 712 ​ ​ 836 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 654 ​ $ 98 ​ $ 41 ​ $ 4 ​ $ 2 ​ $ 236 ​ $ 5,887 ​ $ 6,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total ​ Wholesale receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 115 ​ $ 285 ​ $ 48 ​ $ 21 ​ $ 4 ​ $ 1 ​ $ 2,654 ​ $ 3,128 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 7 ​ ​ 7 ​ ​ 24 ​ ​ 2 ​ ​ ​ ​ ​ 1 ​ ​ 459 ​ ​ 500 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 122 ​ $ 292 ​ $ 72 ​ $ 24 ​ $ 4 ​ $ 2 ​ $ 3,113 ​ $ 3,629 ​ ​ ​ An analysis of the allowance for credit losses and investment in financing receivables follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 28, 2024 ​ ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ ​ ​ ​ ​ ​ Leases ​ Accounts ​ Receivables ​ Total ​ Allowance: ​ ​ Beginning of period balance $ 172 $ 21 ​ $ 4 ​ $ 197 ​ Provision (credit) ​ ​ 35 ​ ​ (2) ​ ​ ​ ​ ​ 33 ​ Write-offs ​ ​ (31) ​ ​ (11) ​ ​ ​ ​ ​ (42) ​ Recoveries ​ ​ 1 ​ ​ 8 ​ ​ ​ ​ ​ 9 ​ Translation adjustments ​ ​ ​ ​ ​ ​ ​ ​ (2) ​ ​ (2) ​ End of period balance $ 177 $ 16 ​ $ 2 ​ $ 195 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance $ 39,824 $ 3,006 ​ $ 7,473 ​ $ 50,303 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 29, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ ​ ​ ​ ​ Leases ​ Accounts ​ Receivables ​ Total ​ Allowance: ​ ​ ​ ​ ​ Beginning of period balance ​ $ 299 $ 22 ​ $ 4 ​ $ 325 ​ Provision (credit) ​ 15 ​ ​ (4) ​ ​ ​ ​ 11 ​ Provision transferred to held for sale ​ ​ (142) ​ ​ ​ ​ ​ ​ ​ ​ (142) ​ Provision (credit) ​ ​ (127) ​ ​ (4) ​ ​ ​ ​ ​ (131) ​ Write-offs ​ (18) ​ ​ (7) ​ ​ ​ ​ (25) ​ Recoveries ​ 4 ​ ​ 5 ​ ​ 1 ​ 10 ​ Translation adjustments ​ (18) ​ ​ ​ ​ ​ (1) ​ (19) ​ End of period balance ​ $ 140 ​ $ 16 ​ $ 4 ​ $ 160 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 35,600 $ 2,902 ​ $ 3,629 ​ $ 42,131 ​ The allowance for credit losses remained generally flat in the first quarter of 2024. In the first quarter of 2023, we determined that the financial services business in Russia met the held for sale criteria. The financing receivables in Russia were reclassified to “Other assets.” The associated allowance for credit losses was reversed and a valuation allowance for the assets held for sale was recorded. These operations were sold in the second quarter of 2023 (see Note 20). Write-offs by year of origination were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 28, 2024 ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: ​ Agriculture and turf ​ ​ ​ ​ $ 2 ​ $ 4 ​ $ 3 ​ $ 4 ​ $ 1 ​ $ 9 ​ $ 23 ​ Construction and forestry ​ ​ ​ ​ ​ 6 ​ ​ 7 ​ ​ 2 ​ ​ 1 ​ ​ 1 ​ ​ 2 ​ ​ 19 ​ Total retail customer receivables ​ ​ ​ ​ $ 8 ​ $ 11 ​ $ 5 ​ $ 5 ​ $ 2 ​ $ 11 ​ $ 42 ​ ​ Modifications We occasionally grant contractual modifications to customers experiencing financial difficulties. Before offering a modification, we evaluate the ability of the customer to meet the modified payment terms. Modifications offered include payment deferrals, term extensions, or a combination thereof. Finance charges continue to accrue during the deferral or extension period. Our allowance for credit losses incorporates historical loss information, including the effects of loan modifications with customers. Therefore, additional adjustments to the allowance are generally not recorded upon modification of a loan. The ending amortized cost of modified loans with borrowers experiencing financial difficulty during the three months ended January 28, 2024 were $17, of which $16 were current and $1 were non-performing. These modifications represented 0.03 percent of our financing receivable portfolio at January 28, 2024. Defaults and subsequent write-offs of loans modified in the prior twelve months were not significant during the three months ended January 28, 2024. In addition, at January 28, 2024, we had no commitments to provide additional financing to these customers.

SECURITIZATION OF FINANCING REC

SECURITIZATION OF FINANCING RECEIVABLES	3 Months Ended
	Jan. 28, 2024
SECURITIZATION OF FINANCING RECEIVABLES
SECURITIZATION OF FINANCING RECEIVABLES	(9)    Securitization of Financing Receivables Our funding strategy includes receivable securitizations, which allows us to receive cash for financing receivables immediately. While these securitization programs are administered in various forms, they are accomplished in the following basic steps: 1. 2. 3. As part of step 1, these receivables are legally isolated from the claims of our general creditors. This ensures cash receipts from the financing receivables are accessible to pay back securitization program investors. The structure of these transactions does not meet the accounting criteria for a sale of receivables. As a result, they are accounted for as a secured borrowing. The receivables and borrowings remain on our balance sheet and are separately reported as “Financing receivables securitized – net” and “Short-term securitization borrowings,” respectively. The components of securitization programs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Financing receivables securitized (retail notes) $ 6,418 ​ $ 7,357 ​ $ 5,102 ​ Allowance for credit losses ​ ​ (18) ​ (22) ​ (13) ​ Other assets (primarily restricted cash) ​ ​ 140 ​ 152 ​ 97 ​ Total restricted securitized assets $ 6,540 ​ $ 7,487 ​ $ 5,186 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term securitization borrowings ​ $ 6,116 ​ $ 6,995 ​ $ 4,864 ​ Accrued interest on borrowings ​ ​ 10 ​ ​ 13 ​ 6 ​ Total liabilities related to restricted securitized assets ​ $ 6,126 ​ $ 7,008 ​ $ 4,870 ​ ​

INVENTORIES

INVENTORIES	3 Months Ended
	Jan. 28, 2024
INVENTORIES
INVENTORIES	(10)    Inventories A majority of inventories owned by us are valued at cost on the “last-in, first-out” (LIFO) basis. If all inventories had been valued on a “first-in, first-out” (FIFO) basis, the estimated inventories by major classification would have been as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Raw materials and supplies $ 4,117 ​ $ 4,080 ​ $ 4,975 ​ Work-in-process ​ ​ 1,223 ​ 1,010 ​ 1,478 ​ Finished goods and parts ​ ​ 6,146 ​ 5,435 ​ 6,347 ​ Total FIFO value ​ ​ 11,486 ​ 10,525 ​ 12,800 ​ Excess of FIFO over LIFO ​ ​ 2,549 ​ 2,365 ​ 2,744 ​ Inventories $ 8,937 ​ $ 8,160 ​ $ 10,056 ​ ​

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS - NET	3 Months Ended
	Jan. 28, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS - NET
GOODWILL AND OTHER INTANGIBLE ASSETS - NET	(11)    Goodwill and Other Intangible Assets – Net The changes in amounts of goodwill by operating segments were as follows. There were no accumulated goodwill impairment losses. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production & Precision Ag ​ Small Ag & Turf ​ Construction & Forestry ​ Total Goodwill at October 30, 2022 ​ $ 646 ​ $ 318 ​ $ 2,723 ​ $ 3,687 ​ Translation adjustments ​ 15 ​ ​ 7 ​ ​ 182 ​ 204 ​ Goodwill at January 29, 2023 ​ $ 661 ​ $ 325 ​ $ 2,905 ​ $ 3,891 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill at October 29, 2023 ​ $ 702 ​ $ 363 ​ $ 2,835 ​ $ 3,900 ​ Translation adjustments ​ ​ 4 ​ ​ 2 ​ ​ 60 ​ ​ 66 ​ Goodwill at January 28, 2024 ​ $ 706 ​ $ 365 ​ $ 2,895 ​ $ 3,966 ​ ​ The components of other intangible assets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Customer lists and relationships $ 509 ​ $ 501 ​ $ 522 ​ Technology, patents, trademarks, and other ​ ​ 1,412 ​ 1,387 ​ 1,387 ​ Total at cost ​ ​ 1,921 ​ 1,888 ​ 1,909 ​ Less accumulated amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer lists and relationships ​ ​ 207 ​ ​ 195 ​ ​ 184 ​ Technology, patents, trademarks, and other ​ ​ 602 ​ ​ 560 ​ ​ 470 ​ Total accumulated amortization ​ ​ 809 ​ ​ 755 ​ ​ 654 ​ Other intangible assets – net $ 1,112 ​ $ 1,133 ​ $ 1,255 ​ ​ The amortization of other intangible assets in the first quarter of 2024 and 2023 was $42 and $39, respectively. The estimated amortization expense for the next five years is as follows: remainder of 2024 – $131, 2025 – $144, 2026 – $121, 2027 – $119, 2028 – $87, and 2029 – $74.

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	3 Months Ended
	Jan. 28, 2024
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS	(12)    Short-Term Borrowings Short-term borrowings were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 ​ Commercial paper ​ $ 8,378 ​ $ 9,100 ​ $ 6,425 ​ Notes payable to banks ​ ​ 310 ​ ​ 483 ​ ​ 303 ​ Finance lease obligations due within one year ​ ​ 27 ​ ​ 25 ​ ​ 23 ​ Long-term borrowings due within one year ​ 8,402 ​ 8,331 ​ 7,378 ​ Short-term borrowings ​ $ 17,117 ​ $ 17,939 ​ $ 14,129 ​ ​

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	3 Months Ended
	Jan. 28, 2024
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	(13)  Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ 2024 2023 ​ 2023 ​ Accounts payable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade payables $ 3,184 $ 3,467 ​ $ 3,616 ​ Dividends payable ​ 413 ​ 388 ​ 358 ​ Operating lease liabilities ​ ​ 293 ​ ​ 281 ​ ​ 305 ​ Deposits withheld from dealers and merchants ​ ​ 153 ​ ​ 163 ​ ​ 153 ​ Payables to unconsolidated affiliates ​ ​ 6 ​ ​ 6 ​ ​ 10 ​ Other ​ 183 ​ 153 ​ 156 ​ Accrued expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee benefits ​ 1,107 ​ 2,152 ​ 1,015 ​ Product warranties ​ 1,589 ​ 1,610 ​ 1,444 ​ Accrued taxes ​ ​ 1,364 ​ ​ 1,558 ​ ​ 1,336 ​ Derivative liabilities ​ ​ 744 ​ ​ 1,130 ​ ​ 891 ​ Dealer sales discounts ​ 243 ​ 1,243 ​ 256 ​ Extended warranty premium ​ ​ 1,047 ​ ​ 1,021 ​ ​ 901 ​ Unearned revenue (contractual liability) ​ 700 ​ 676 ​ 601 ​ Unearned operating lease revenue ​ ​ 456 ​ ​ 451 ​ ​ 406 ​ Accrued interest ​ ​ 502 ​ ​ 434 ​ ​ 371 ​ Other ​ 1,377 ​ 1,397 ​ 1,289 ​ Accounts payable and accrued expenses $ 13,361 $ 16,130 ​ $ 13,108 ​ ​ Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,410 at January 28, 2024, $2,228 at October 29, 2023, and $1,540 at January 29, 2023. Other eliminations were made for accrued taxes and other accrued expenses.

LONG-TERM BORROWINGS

LONG-TERM BORROWINGS	3 Months Ended
	Jan. 28, 2024
LONG-TERM BORROWINGS
LONG-TERM BORROWINGS	(14)    Long-Term Borrowings Long-term borrowings consisted of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 ​ Underwritten term debt ​ ​ ​ ​ ​ ​ ​ U.S. dollar notes and debentures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.75% notes due 2025 ​ $ 700 ​ $ 700 ​ $ 700 ​ 6.55% debentures due 2028 ​ 200 ​ 200 ​ 200 ​ 5.375% notes due 2029 ​ 500 ​ 500 ​ 500 ​ 3.10% notes due 2030 ​ 700 ​ 700 ​ ​ 700 ​ 8.10% debentures due 2030 ​ ​ 250 ​ ​ 250 ​ 250 ​ 7.125% notes due 2031 ​ 300 ​ 300 ​ 300 ​ 3.90% notes due 2042 ​ 1,250 ​ 1,250 ​ 1,250 ​ 2.875% notes due 2049 ​ ​ 500 ​ ​ 500 ​ ​ 500 ​ 3.75% notes due 2050 ​ ​ 850 ​ ​ 850 ​ ​ 850 ​ Euro notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.375% notes due 2024 (€800 principal) ​ ​ ​ ​ ​ ​ ​ ​ 871 ​ 1.85% notes due 2028 (€600 principal) ​ ​ 651 ​ ​ 634 ​ ​ 653 ​ 2.20% notes due 2032 (€600 principal) ​ ​ 651 ​ ​ 634 ​ ​ 653 ​ 1.65% notes due 2039 (€650 principal) ​ ​ 705 ​ ​ 687 ​ ​ 708 ​ Serial issuances: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ 31,001 ​ ​ 29,638 ​ ​ 25,618 ​ Other notes and finance lease obligations ​ 1,810 ​ 1,769 ​ 1,440 ​ Less debt issuance costs and debt discounts ​ ​ (135) ​ ​ (135) ​ ​ (122) ​ Long-term borrowings $ 39,933 ​ $ 38,477 ​ $ 35,071 ​ ​ Medium-term notes due through 2033 are primarily offered by prospectus and issued at fixed and variable rates. The principal balances of the medium-term notes were $31,808, $30,902, and $26,367 at January 28, 2024, October 29, 2023, and January 29, 2023, respectively. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other.

LEASES - LESSOR

LEASES - LESSOR	3 Months Ended
	Jan. 28, 2024
LEASES - LESSOR
LEASES - LESSOR	(15)    Leases - Lessor We lease equipment manufactured or sold by us through John Deere Financial. Sales-type and direct financing leases are reported in “Financing receivables – net.” Operating leases are reported in “Equipment on operating leases – net.” Lease revenues earned by us follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ January 28 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ Sales-type and direct finance lease revenues ​ $ 47 ​ $ 41 ​ Operating lease revenues ​ ​ 339 ​ ​ 321 ​ Variable lease revenues ​ ​ 4 ​ ​ 6 ​ Total lease revenues ​ $ 390 ​ $ 368 ​ ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jan. 28, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	(16)    Commitments and Contingencies A standard warranty is provided as assurance that the equipment will function as intended. The standard warranty period varies by product and region. At the time a sale is recognized, we record an estimate of future warranty costs based on historical claims rate experience and estimated population under warranty. The reconciliation of the changes in the warranty liability follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ January 28 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ Beginning of period balance $ 1,610 $ 1,427 ​ Warranty claims paid ​ ​ (309) ​ (262) ​ New product warranty accruals ​ ​ 281 ​ 256 ​ Foreign exchange ​ ​ 7 ​ 23 ​ End of period balance ​ $ 1,589 ​ $ 1,444 ​ ​ The costs for extended warranty programs are recognized as incurred. In certain international markets, we provide guarantees to banks for the retail financing of John Deere equipment. At January 28, 2024, the notional value of these guarantees was $166. We may repossess the equipment collateralizing the receivables. At January 28, 2024, the accrued losses under these agreements were not material. We also had other miscellaneous contingent liabilities and guarantees totaling approximately $115 at January 28, 2024. The accrued liability for these contingencies was not material at January 28, 2024. At January 28, 2024, we had commitments of $597 for the construction and acquisition of property and equipment. Also, at January 28, 2024, we had restricted assets of $214, classified as “Other assets.” We are subject to various unresolved legal actions. The accrued losses on these matters are not material. We believe the reasonably possible range of losses for these unresolved legal actions would not have a material effect on our financial statements. The most prevalent legal claims relate to product liability (including asbestos-related liability), retail credit, employment, patent, trademark, and antitrust matters

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Jan. 28, 2024
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	(17)    Fair Value Measurements The fair values of financial instruments that do not approximate the carrying values were as follows. Long-term borrowings exclude finance lease liabilities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ October 29, 2023 ​ January 29, 2023 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair Financing receivables – net ​ $ 43,708 ​ $ 43,236 ​ $ 43,673 ​ $ 42,777 ​ $ 36,882 ​ $ 35,894 ​ Financing receivables securitized – net ​ ​ 6,400 ​ ​ 6,225 ​ ​ 7,335 ​ ​ 7,056 ​ ​ 5,089 ​ ​ 4,869 ​ Short-term securitization borrowings ​ ​ 6,116 ​ ​ 6,104 ​ ​ 6,995 ​ ​ 6,921 ​ ​ 4,864 ​ ​ 4,785 ​ Long-term borrowings due within one year ​ ​ 8,402 ​ ​ 8,283 ​ ​ 8,331 ​ 8,156 ​ ​ 7,378 ​ ​ 7,220 ​ Long-term borrowings ​ ​ 39,878 ​ ​ 39,321 ​ ​ 38,428 ​ 36,873 ​ ​ 35,035 ​ ​ 34,149 ​ Fair value measurements above were Level 3 for all financing receivables and Level 2 for all borrowings. 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 us 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. Assets and liabilities measured at fair value on a recurring basis follow, excluding our cash equivalents, which were carried at a cost that approximates fair value and consisted of money market funds and time deposits. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Level 1: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ ​ ​ International equity securities ​ $ 5 ​ $ 3 ​ $ 2 ​ International mutual funds securities ​ ​ 57 ​ ​ 101 ​ ​ ​ ​ U.S. equity fund ​ ​ 105 ​ ​ 86 ​ ​ 86 ​ U.S. fixed income fund ​ ​ 34 ​ 32 ​ 118 ​ U.S. government debt securities ​ ​ 274 ​ 78 ​ 64 ​ Total Level 1 marketable securities ​ ​ 475 ​ ​ 300 ​ ​ 270 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 2: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ ​ 220 ​ 244 ​ 209 ​ International debt securities ​ ​ 87 ​ ​ 1 ​ ​ 18 ​ Mortgage-backed securities ​ ​ 161 ​ 185 ​ 157 ​ Municipal debt securities ​ ​ 69 ​ 75 ​ 71 ​ U.S. government debt securities ​ ​ 124 ​ ​ 141 ​ ​ 127 ​ Total Level 2 marketable securities ​ ​ 661 ​ 646 ​ 582 ​ Other assets – Derivatives ​ 253 ​ ​ 292 ​ ​ 360 ​ Accounts payable and accrued expenses – Derivatives ​ ​ 744 ​ ​ 1,130 ​ ​ 891 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 3: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses – Deferred consideration ​ 176 ​ ​ 186 ​ ​ 225 ​ ​ The mortgage-backed securities are primarily issued by U.S. government sponsored enterprises. The contractual maturities of debt securities at January 28, 2024 follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Fair ​ ​ ​ Cost ​ Value ​ Due in one year or less $ 22 ​ $ 21 ​ Due after one through five years ​ ​ 242 ​ ​ 194 ​ Due after five through 10 years ​ ​ 421 ​ ​ 398 ​ Due after 10 years ​ ​ 192 ​ ​ 161 ​ Mortgage-backed securities ​ ​ 189 ​ ​ 161 ​ Debt securities $ 1,066 $ 935 ​ ​ Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Mortgage-backed securities contain prepayment provisions and are not categorized by contractual maturity. The following is a description of the valuation methodologies we use to measure certain financial instruments on the balance sheets at fair value: Marketable securities – Derivatives – Financing receivables –

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Jan. 28, 2024
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS	(18)    Derivative Instruments Fair values of our derivative instruments and the associated notional amounts were as follows. Assets are recorded in “Other assets,” while liabilities are recorded in “Accounts payable and accrued expenses.” ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ October 29, 2023 ​ January 29, 2023 ​ ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ Notional ​ Assets ​ Liabilities ​ Notional ​ Assets ​ Liabilities ​ Notional ​ Assets ​ Liabilities Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts $ 2,200 ​ $ 27 ​ $ 4 $ 1,500 ​ $ 45 ​ ​ ​ $ 1,950 ​ $ 69 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 12,633 ​ ​ 58 ​ ​ 592 ​ ​ 12,691 ​ ​ ​ ​ $ 970 ​ ​ 10,802 ​ ​ 21 ​ $ 678 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 14,200 ​ ​ 129 ​ ​ 82 ​ ​ 13,853 ​ ​ 169 ​ ​ 98 ​ ​ 11,147 ​ ​ 188 ​ ​ 97 ​ Foreign exchange contracts ​ ​ 7,856 ​ ​ 39 ​ ​ 53 ​ ​ 8,117 ​ 75 ​ 54 ​ ​ 9,304 ​ 71 ​ 110 ​ Cross-currency interest rate contracts ​ ​ 189 ​ ​ ​ ​ ​ 13 ​ ​ 176 ​ 3 ​ 8 ​ ​ 234 ​ 11 ​ 6 ​ ​ The amounts recorded in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows. Fair value hedging adjustments are included in the carrying amount of the hedged item. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Hedging Relationships ​ Discontinued Hedging Relationships ​ ​ ​ Carrying Amount ​ Cumulative Fair Value ​ Carrying Amount of ​ Cumulative Fair Value ​ ​ ​ of Hedged Item ​ Hedging Amount ​ Formerly Hedged Item ​ Hedging Amount ​ January 28, 2024 ​ ​ ​ ​ ​ ​ ​ ​ Short-term borrowings ​ $ 288 ​ $ (9) ​ $ 1,960 ​ $ 10 ​ Long-term borrowings ​ ​ 11,745 ​ ​ (537) ​ ​ 7,711 ​ ​ (270) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,814 ​ $ 15 ​ Long-term borrowings ​ $ 11,660 ​ $ (976) ​ ​ 7,144 ​ ​ (288) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 29, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,915 ​ $ 15 ​ Long-term borrowings ​ $ 10,088 ​ $ (666) ​ ​ 5,506 ​ ​ (83) ​ ​ The classification and gains (losses) including accrued interest expense related to derivative instruments on the statements of consolidated income consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ January 28 ​ January 29 ​ ​ 2024 ​ 2023 Fair Value Hedges ​ ​ Interest rate contracts - Interest expense $ 344 ​ $ 239 ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ Recognized in OCI: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) $ (8) ​ $ (1) ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense ​ 11 ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Net sales ​ ​ ​ ​ $ (7) ​ Interest rate contracts - Interest expense $ (9) ​ ​ (8) ​ Foreign exchange contracts - Net sales ​ ​ 5 ​ ​ 1 ​ Foreign exchange contracts - Cost of sales ​ (30) ​ 5 ​ Foreign exchange contracts - Other operating expenses ​ (181) ​ (142) ​ Total not designated ​ $ (215) ​ $ (151) ​ ​ Certain of our derivative agreements contain credit support provisions that may require us 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 January 28, 2024, October 29, 2023, and January 29, 2023 was $691, $1,076, and $781, respectively. In accordance with the limits established in these agreements, we posted $368, $659, and $349 of cash collateral at January 28, 2024, October 29, 2023, and January 29, 2023, respectively. In addition, we paid $8 of collateral that was outstanding at January 28, 2024, October 29, 2023, and January 29, 2023 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 any collateral received or paid follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Netting ​ ​ ​ ​ ​ January 28, 2024 Recognized Arrangements Collateral Net Amount Assets $ 253 $ (112) $ (19) $ 122 ​ Liabilities ​ ​ 744 ​ ​ (112) ​ ​ (368) ​ ​ 264 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Netting ​ ​ ​ ​ ​ ​ October 29, 2023 Recognized Arrangements Collateral Net Amount Assets ​ $ 292 $ (152) ​ ​ $ 140 ​ Liabilities ​ ​ 1,130 ​ (152) ​ $ (659) ​ ​ 319 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Netting ​ ​ ​ ​ ​ ​ January 29, 2023 ​ Recognized Arrangements Collateral Net Amount Assets ​ $ 360 $ (162) $ (47) ​ $ 151 ​ Liabilities ​ 891 ​ ​ (162) ​ ​ (349) ​ 380 ​ ​

SHARE-BASED AWARDS

SHARE-BASED AWARDS	3 Months Ended
	Jan. 28, 2024
SHARE-BASED AWARDS
SHARE-BASED AWARDS	(19)    Share-Based Awards At January 28, 2024, we were authorized to grant an additional 15.0 million shares related to stock options and restricted stock units. In December 2023, we granted stock options to employees for the purchase of 216 thousand shares of common stock at an exercise price of $377.01 per share and a binomial lattice model fair value of $98.04 per share at the grant date. At January 28, 2024, options for 1.9 million shares were outstanding with a weighted-average exercise price of $214.88 per share. During the three months ended January 28, 2024, the restricted stock units (RSUs) granted in thousands of shares and the weighted-average grant date fair values, using the closing price of our common stock on the grant date, in dollars follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Date ​ ​ ​ Shares ​ Fair Value ​ Service-based 360 $ 377.04 Performance/service-based ​ 52 ​ ​ 360.53 ​ Market/service-based ​ 52 ​ ​ 370.87 ​ ​ In December 2023, we granted market/service-based RSUs. The vesting period for the market/service-based RSUs is three years and dividend equivalents are not earned during the vesting period. The market/service-based RSUs are subject to a market related metric based on total shareholder return, compared to a benchmark group of companies, and award common stock in a range of zero to 200 percent for each unit granted based on the level of the metric achieved. The fair value of the market/service based RSUs was determined using a Monte Carlo model.

SPECIAL ITEMS

SPECIAL ITEMS	3 Months Ended
	Jan. 28, 2024
SPECIAL ITEMS
SPECIAL ITEMS	(20)   S pecial Item In January 2023, we reached an agreement to sell our financial services business in Russia (registered in Russia as a leasing company). We reversed the allowance for credit losses and recorded a valuation allowance on the assets held for sale in “Selling, administrative and general expenses.” In March 2023, we sold our financial services business in Russia to Insight Investment Group. The total proceeds, net of restricted cash sold, were $36. The operations were included in the financial services operating segment through the date of sale. At the disposal date, the total assets were $31, consisting primarily of financing receivables, the total liabilities were $5, and the cumulative translation loss was $10. We did not incur additional gains or losses upon disposition.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jan. 28, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	( 21)    Subsequent Events In February 2024, we entered into a retail note securitization transaction, resulting in $529 of secured borrowings. On February 28, 2024, a quarterly dividend of $1.47 per share was declared at the Board of Directors meeting, payable on May 8, 2024, to stockholders of record on March 29, 2024. ​

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS (Policies)	3 Months Ended
	Jan. 28, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS
Fiscal Period, Policy	We use a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The first quarter ends for fiscal year 2024 and 2023 were January 28, 2024 and January 29, 2023, respectively. Both periods contained 13 weeks. Unless otherwise stated, references to particular years, quarters, or months refer to our fiscal years generally ending in October and the associated periods in those fiscal years.
Use of Estimates in Financial Statements, Policy	Certain accounting policies require management to make estimates and assumptions in determining the amounts reflected in the financial statements and related disclosures. Actual results could differ from those estimates.
New Accounting Standards, Policy	We closely monitor all Accounting Standard Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) and other authoritative guidance. We adopted the following standards in 2024, none of which had a material effect on our consolidated financial statements. ​ ​ Accounting Standards Adopted ​ 2022-04 — Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations ​ 2022-02 — Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ​ 2022-01 — Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method ​ 2021-08 — Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ​ Accounting Standards to be Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and cash taxes paid both in the U.S. and foreign jurisdictions. The effective date of the ASU is fiscal year 2026. We are assessing the effect of this update on our related disclosures. We will also adopt the following standards in future periods, none of which are expected to have a material effect on our consolidated financial statements. ​ ​ 2023-07 — Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ​ 2023-06 — Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative ​ 2023-05 — Business Combinations – Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement ​ 2022-03 — Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions ​ ​
Financing Receivables - Allowance for Credit Losses, Policy	We monitor the credit quality of financing receivables based on delinquency status, defined as follows: ● Past due balances represent any payments 30 days or more past the due date. ● Non-performing financing receivables represent receivables for which we have stopped accruing finance income. This generally occurs when receivables are 90 days delinquent. ● Write-offs generally occur when receivables are 120 days delinquent. In these situations, the estimated uncollectible amount is written off to the allowance for credit losses. Any expected recovery is presented as non-performing.
Securitization of Financing Receivables, Policy	Our funding strategy includes receivable securitizations, which allows us to receive cash for financing receivables immediately. While these securitization programs are administered in various forms, they are accomplished in the following basic steps: 1. 2. 3. As part of step 1, these receivables are legally isolated from the claims of our general creditors. This ensures cash receipts from the financing receivables are accessible to pay back securitization program investors. The structure of these transactions does not meet the accounting criteria for a sale of receivables. As a result, they are accounted for as a secured borrowing. The receivables and borrowings remain on our balance sheet and are separately reported as “Financing receivables securitized – net” and “Short-term securitization borrowings,” respectively.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Jan. 28, 2024
REVENUE RECOGNITION
Schedule of Revenue Recognition	Our net sales and revenues by primary geographic market, major product line, and timing of revenue recognition follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 28, 2024 ​ ​ ​ Production & Precision Ag ​ Small Ag & Turf ​ Construction & Forestry ​ Financial Services ​ Total ​ Primary geographic markets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 2,721 ​ $ 1,345 ​ $ 2,095 ​ $ 970 ​ $ 7,131 ​ Canada ​ ​ 386 ​ ​ 118 ​ ​ 210 ​ 172 ​ 886 ​ Western Europe ​ ​ 503 ​ ​ 517 ​ ​ 361 ​ 40 ​ 1,421 ​ Central Europe and CIS ​ ​ 179 ​ ​ 73 ​ ​ 94 ​ 8 ​ 354 ​ Latin America ​ ​ 819 ​ ​ 98 ​ ​ 256 ​ 130 ​ 1,303 ​ Asia, Africa, Oceania, and Middle East ​ ​ 435 ​ ​ 341 ​ ​ 258 ​ ​ 56 ​ ​ 1,090 ​ Total ​ $ 5,043 ​ $ 2,492 ​ $ 3,274 ​ $ 1,376 ​ $ 12,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Major product lines: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production agriculture ​ $ 4,791 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,791 ​ Small agriculture ​ ​ ​ ​ $ 1,718 ​ ​ ​ ​ ​ ​ 1,718 ​ Turf ​ ​ ​ ​ ​ 649 ​ ​ ​ ​ ​ ​ 649 ​ Construction ​ ​ ​ ​ ​ ​ ​ $ 1,483 ​ ​ ​ 1,483 ​ Compact construction ​ ​ ​ ​ ​ ​ ​ ​ 626 ​ ​ ​ ​ ​ 626 ​ Roadbuilding ​ ​ ​ ​ ​ ​ ​ ​ 763 ​ ​ ​ 763 ​ Forestry ​ ​ ​ ​ ​ ​ ​ ​ 292 ​ ​ ​ 292 ​ Financial products ​ ​ 60 ​ ​ 26 ​ ​ 18 ​ $ 1,376 ​ 1,480 ​ Other ​ ​ 192 ​ ​ 99 ​ ​ 92 ​ ​ ​ 383 ​ Total ​ $ 5,043 ​ $ 2,492 ​ $ 3,274 ​ $ 1,376 ​ $ 12,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue recognized: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point in time ​ $ 4,955 ​ $ 2,456 ​ $ 3,243 ​ $ 28 ​ $ 10,682 ​ Over time ​ ​ 88 ​ ​ 36 ​ ​ 31 ​ ​ 1,348 ​ ​ 1,503 ​ Total ​ $ 5,043 ​ $ 2,492 ​ $ 3,274 ​ $ 1,376 ​ $ 12,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 29, 2023 ​ ​ ​ Production & Precision Ag ​ Small Ag & Turf ​ Construction & Forestry ​ Financial Services ​ Total ​ Primary geographic markets: ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 2,628 ​ $ 1,665 ​ $ 1,901 ​ $ 713 ​ $ 6,907 ​ Canada ​ ​ 360 ​ ​ 146 ​ ​ 275 ​ 150 ​ 931 ​ Western Europe ​ ​ 501 ​ ​ 564 ​ ​ 365 ​ 29 ​ 1,459 ​ Central Europe and CIS ​ ​ 202 ​ ​ 123 ​ ​ 75 ​ 12 ​ 412 ​ Latin America ​ ​ 1,237 ​ ​ 156 ​ ​ 339 ​ 95 ​ 1,827 ​ Asia, Africa, Oceania, and Middle East ​ ​ 375 ​ ​ 400 ​ ​ 300 ​ ​ 41 ​ ​ 1,116 ​ Total ​ $ 5,303 ​ $ 3,054 ​ $ 3,255 ​ $ 1,040 ​ $ 12,652 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Major product lines: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production agriculture ​ $ 5,112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 5,112 ​ Small agriculture ​ ​ ​ ​ $ 2,194 ​ ​ ​ ​ ​ ​ 2,194 ​ Turf ​ ​ ​ ​ ​ 719 ​ ​ ​ ​ ​ ​ 719 ​ Construction ​ ​ ​ ​ ​ ​ ​ $ 1,483 ​ ​ ​ 1,483 ​ Compact construction ​ ​ ​ ​ ​ ​ ​ ​ 473 ​ ​ ​ ​ ​ 473 ​ Roadbuilding ​ ​ ​ ​ ​ ​ ​ ​ 818 ​ ​ ​ 818 ​ Forestry ​ ​ ​ ​ ​ ​ ​ ​ 356 ​ ​ ​ 356 ​ Financial products ​ ​ 31 ​ ​ 18 ​ ​ 13 ​ $ 1,040 ​ 1,102 ​ Other ​ ​ 160 ​ ​ 123 ​ ​ 112 ​ ​ ​ 395 ​ Total ​ $ 5,303 ​ $ 3,054 ​ $ 3,255 ​ $ 1,040 ​ $ 12,652 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue recognized: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point in time ​ $ 5,248 ​ $ 3,029 ​ $ 3,230 ​ $ 23 ​ $ 11,530 ​ Over time ​ ​ 55 ​ ​ 25 ​ ​ 25 ​ ​ 1,017 ​ ​ 1,122 ​ Total ​ $ 5,303 ​ $ 3,054 ​ $ 3,255 ​ $ 1,040 ​ $ 12,652 ​

OTHER COMPREHENSIVE INCOME IT_2

OTHER COMPREHENSIVE INCOME ITEMS (Tables)	3 Months Ended
	Jan. 28, 2024
OTHER COMPREHENSIVE INCOME ITEMS
Schedule of After-Tax Components of Accumulated Other Comprehensive Income (Loss)	The after-tax components of accumulated other comprehensive income (loss) follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 ​ October 29 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ 2023 ​ Retirement benefits adjustment ​ $ (866) ​ $ (845) ​ $ (400) ​ Cumulative translation adjustment ​ ​ (1,877) ​ ​ (2,151) ​ ​ (1,913) ​ Unrealized gain (loss) on derivatives ​ ​ (23) ​ ​ (8) ​ ​ 8 ​ Unrealized loss on debt securities ​ ​ (97) ​ ​ (110) ​ ​ (67) ​ Total accumulated other comprehensive income (loss) ​ $ (2,863) ​ $ (3,114) ​ $ (2,372) ​
Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects	The following tables reflect amounts recorded in other comprehensive income (loss), as well as reclassifications out of other comprehensive income (loss). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended January 28, 2024 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ 273 ​ $ 1 ​ $ 274 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ ​ (8) ​ ​ 2 ​ ​ (6) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ ​ (11) ​ ​ 2 ​ ​ (9) ​ Net unrealized gain (loss) on derivatives ​ ​ (19) ​ ​ 4 ​ ​ (15) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ 1 ​ ​ 6 ​ ​ 7 ​ Reclassification of realized (gain) loss – Other income ​ ​ 8 ​ ​ (2) ​ ​ 6 ​ Net unrealized gain (loss) on debt securities ​ ​ 9 ​ ​ 4 ​ ​ 13 ​ Retirement benefits adjustment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net actuarial gain (loss) ​ ​ (17) ​ ​ 4 ​ ​ (13) ​ Reclassification to Other operating expenses through amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial (gain) loss ​ ​ (20) ​ ​ 5 ​ ​ (15) ​ Prior service (credit) cost ​ ​ 9 ​ ​ (2) ​ ​ 7 ​ Net unrealized gain (loss) on retirement benefits adjustment ​ ​ (28) ​ ​ 7 ​ ​ (21) ​ Total other comprehensive income (loss) $ 235 ​ $ 16 ​ $ 251 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before Tax After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended January 29, 2023 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ 669 ​ $ 12 ​ $ 681 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ ​ (15) ​ ​ 3 ​ ​ (12) ​ Net unrealized gain (loss) on derivatives ​ ​ (16) ​ ​ 3 ​ ​ (13) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ 34 ​ ​ (7) ​ ​ 27 ​ Net unrealized gain (loss) on debt securities ​ ​ 34 ​ ​ (7) ​ ​ 27 ​ Retirement benefits adjustment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net actuarial gain (loss) ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ Reclassification to Other operating expenses through amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial (gain) loss ​ ​ (21) ​ ​ 5 ​ ​ (16) ​ Prior service (credit) cost ​ ​ 9 ​ ​ (3) ​ ​ 6 ​ Net unrealized gain (loss) on retirement benefits adjustment ​ ​ (13) ​ ​ 2 ​ ​ (11) ​ Total other comprehensive income (loss) $ 674 ​ $ 10 ​ $ 684 ​

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Jan. 28, 2024
EARNINGS PER SHARE
Reconciliation of Basic and Diluted Net Income Per Share	A reconciliation of basic and diluted net income per share attributable to Deere & Company follows in millions, except per share amounts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ January 28 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ Net income attributable to Deere & Company $ 1,751 $ 1,959 ​ Average shares outstanding ​ ​ 279.9 ​ 297.6 ​ Basic per share ​ $ 6.25 ​ $ 6.58 ​ ​ ​ ​ ​ ​ ​ ​ ​ Average shares outstanding ​ ​ 279.9 ​ 297.6 ​ Effect of dilutive stock options and restricted stock awards ​ ​ 1.2 ​ 1.5 ​ Total potential shares outstanding ​ ​ 281.1 ​ 299.1 ​ Diluted per share ​ $ 6.23 ​ $ 6.55 ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares excluded from EPS calculation, as antidilutive ​ ​ .2 ​ ​ .1 ​

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	3 Months Ended
	Jan. 28, 2024
PENSION AND OTHER POSTRETIREMENT BENEFITS
Schedule of Components of Net Periodic Pension and OPEB (Benefit) Cost	The components of net periodic pension and OPEB (benefit) cost consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ January 28 ​ January 29 ​ ​ 2024 ​ 2023 Pensions ​ ​ ​ ​ ​ ​ ​ Service cost $ 58 $ 60 ​ Interest cost ​ ​ 136 ​ 133 ​ Expected return on plan assets ​ ​ (241) ​ (212) ​ Amortization of actuarial gain ​ ​ (4) ​ (5) ​ Amortization of prior service cost ​ ​ 10 ​ 10 ​ Net benefit ​ $ (41) ​ $ (14) ​ ​ ​ ​ ​ ​ ​ ​ ​ OPEB ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 5 ​ $ 7 ​ Interest cost ​ ​ 43 ​ 43 ​ Expected return on plan assets ​ ​ (27) ​ (29) ​ Amortization of actuarial gain ​ ​ (16) ​ (16) ​ Amortization of prior service credit ​ ​ (1) ​ (1) ​ Net cost ​ $ 4 ​ $ 4 ​
Schedule of Pension and OPEB Contributions and Expected Contributions	During the first three months of 2024, we contributed and expect to contribute the following amounts to our pension and OPEB plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pensions ​ OPEB ​ Contributed $ 24 $ 106 Expected contributions remainder of the year ​ ​ 61 ​ 34 ​

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	3 Months Ended
	Jan. 28, 2024
SEGMENT DATA
Schedule of Segment Reporting Information	Information relating to operations by operating segment follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ January 28 ​ January 29 ​ % ​ 2024 2023 Change Net sales and revenues: ​ ​ ​ Production & precision ag net sales $ 4,849 ​ $ 5,198 ​ -7 ​ Small ag & turf net sales ​ ​ 2,425 ​ ​ 3,001 ​ -19 ​ Construction & forestry net sales ​ ​ 3,212 ​ 3,203 ​ ​ ​ Financial services revenues ​ ​ 1,376 ​ 1,040 ​ +32 ​ Other revenues ​ ​ 323 ​ 210 ​ +54 ​ Total net sales and revenues $ 12,185 ​ $ 12,652 ​ -4 ​ Operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ Production & precision ag $ 1,045 ​ $ 1,208 ​ -13 ​ Small ag & turf ​ ​ 326 ​ ​ 447 ​ -27 ​ Construction & forestry ​ ​ 566 ​ 625 ​ -9 ​ Financial services ​ ​ 257 ​ 238 ​ +8 ​ Total operating profit ​ ​ 2,194 ​ 2,518 ​ -13 ​ Reconciling items ​ ​ 26 ​ (22) ​ ​ ​ Income taxes ​ ​ (469) ​ (537) ​ -13 ​ Net income attributable to Deere & Company $ 1,751 ​ $ 1,959 ​ -11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intersegment sales and revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ Production & precision ag net sales $ 8 ​ $ 5 ​ +60 ​ Small ag & turf net sales ​ ​ 1 ​ ​ 3 ​ -67 ​ Construction & forestry net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial services revenues ​ ​ 176 ​ 204 ​ -14 ​ Operating profit for PPA, SAT, and CF is income from continuing operations before corporate expenses, certain external interest expenses, certain foreign exchange gains and losses, and income taxes. Operating profit of financial services includes the effect of interest expense and foreign exchange gains and losses. Reconciling items to net income are primarily corporate expenses, certain interest income and expenses, certain foreign exchange gains and losses, pension and OPEB benefit (cost) amounts excluding the service cost component, equity in income of unconsolidated affiliates, and net income attributable to noncontrolling interests. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identifiable operating assets were as follows: ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 ​ Production & precision ag $ 9,059 ​ $ 8,734 ​ $ 9,393 ​ Small ag & turf ​ ​ 4,426 ​ ​ 4,348 ​ ​ 4,893 ​ Construction & forestry ​ ​ 7,371 ​ 7,139 ​ 7,232 ​ Financial services ​ ​ 69,900 ​ 70,732 ​ 59,721 ​ Corporate ​ ​ 10,615 ​ 13,134 ​ 10,381 ​ Total assets $ 101,371 ​ $ 104,087 ​ $ 91,620 ​

FINANCING RECEIVABLES (Tables)

FINANCING RECEIVABLES (Tables)	3 Months Ended
	Jan. 28, 2024
Financing Receivables
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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 28, 2024 ​ ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ ​ ​ ​ ​ ​ Leases ​ Accounts ​ Receivables ​ Total ​ Allowance: ​ ​ Beginning of period balance $ 172 $ 21 ​ $ 4 ​ $ 197 ​ Provision (credit) ​ ​ 35 ​ ​ (2) ​ ​ ​ ​ ​ 33 ​ Write-offs ​ ​ (31) ​ ​ (11) ​ ​ ​ ​ ​ (42) ​ Recoveries ​ ​ 1 ​ ​ 8 ​ ​ ​ ​ ​ 9 ​ Translation adjustments ​ ​ ​ ​ ​ ​ ​ ​ (2) ​ ​ (2) ​ End of period balance $ 177 $ 16 ​ $ 2 ​ $ 195 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance $ 39,824 $ 3,006 ​ $ 7,473 ​ $ 50,303 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 29, 2023 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ ​ ​ ​ ​ Leases ​ Accounts ​ Receivables ​ Total ​ Allowance: ​ ​ ​ ​ ​ Beginning of period balance ​ $ 299 $ 22 ​ $ 4 ​ $ 325 ​ Provision (credit) ​ 15 ​ ​ (4) ​ ​ ​ ​ 11 ​ Provision transferred to held for sale ​ ​ (142) ​ ​ ​ ​ ​ ​ ​ ​ (142) ​ Provision (credit) ​ ​ (127) ​ ​ (4) ​ ​ ​ ​ ​ (131) ​ Write-offs ​ (18) ​ ​ (7) ​ ​ ​ ​ (25) ​ Recoveries ​ 4 ​ ​ 5 ​ ​ 1 ​ 10 ​ Translation adjustments ​ (18) ​ ​ ​ ​ ​ (1) ​ (19) ​ End of period balance ​ $ 140 ​ $ 16 ​ $ 4 ​ $ 160 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 35,600 $ 2,902 ​ $ 3,629 ​ $ 42,131 ​ The allowance for credit losses remained generally flat in the first quarter of 2024. In the first quarter of 2023, we determined that the financial services business in Russia met the held for sale criteria. The financing receivables in Russia were reclassified to “Other assets.” The associated allowance for credit losses was reversed and a valuation allowance for the assets held for sale was recorded. These operations were sold in the second quarter of 2023 (see Note 20).
Write-offs by Year of Origination	Write-offs by year of origination were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended January 28, 2024 ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: ​ Agriculture and turf ​ ​ ​ ​ $ 2 ​ $ 4 ​ $ 3 ​ $ 4 ​ $ 1 ​ $ 9 ​ $ 23 ​ Construction and forestry ​ ​ ​ ​ ​ 6 ​ ​ 7 ​ ​ 2 ​ ​ 1 ​ ​ 1 ​ ​ 2 ​ ​ 19 ​ Total retail customer receivables ​ ​ ​ ​ $ 8 ​ $ 11 ​ $ 5 ​ $ 5 ​ $ 2 ​ $ 11 ​ $ 42 ​
Retail Customer Receivables
Financing Receivables
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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 3,248 ​ $ 13,626 ​ $ 7,731 ​ $ 4,577 ​ $ 2,032 ​ $ 931 ​ $ 2,798 ​ $ 34,943 ​ 30-59 days past due ​ ​ 5 ​ ​ 122 ​ ​ 66 ​ ​ 47 ​ ​ 22 ​ ​ 11 ​ ​ 71 ​ ​ 344 ​ 60-89 days past due ​ ​ 1 ​ ​ 50 ​ ​ 26 ​ ​ 15 ​ ​ 7 ​ ​ 5 ​ ​ 16 ​ ​ 120 ​ 90+ days past due ​ ​ ​ ​ ​ 1 ​ ​ 1 ​ ​ 3 ​ ​ 4 ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Non-performing ​ ​ ​ ​ ​ 49 ​ ​ 95 ​ ​ 66 ​ ​ 34 ​ ​ 42 ​ ​ 11 ​ ​ 297 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 803 ​ ​ 2,698 ​ ​ 1,743 ​ ​ 911 ​ ​ 276 ​ ​ 109 ​ ​ 101 ​ ​ 6,641 ​ 30-59 days past due ​ ​ 8 ​ ​ 73 ​ ​ 46 ​ ​ 26 ​ ​ 8 ​ ​ 3 ​ ​ 5 ​ ​ 169 ​ 60-89 days past due ​ ​ ​ ​ ​ 26 ​ ​ 20 ​ ​ 13 ​ ​ 6 ​ ​ 3 ​ ​ 2 ​ ​ 70 ​ 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 4 ​ Non-performing ​ ​ 1 ​ ​ 67 ​ ​ 86 ​ ​ 48 ​ ​ 20 ​ ​ 9 ​ ​ 2 ​ ​ 233 ​ Total retail customer receivables ​ $ 4,066 ​ $ 16,712 ​ $ 9,816 ​ $ 5,707 ​ $ 2,409 ​ $ 1,114 ​ $ 3,006 ​ $ 42,830 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 15,191 ​ $ 8,430 ​ $ 5,120 ​ $ 2,334 ​ $ 853 ​ $ 280 ​ $ 4,526 ​ $ 36,734 ​ 30-59 days past due ​ ​ 62 ​ ​ 75 ​ ​ 39 ​ ​ 21 ​ ​ 9 ​ ​ 3 ​ ​ 29 ​ ​ 238 ​ 60-89 days past due ​ ​ 18 ​ ​ 26 ​ ​ 18 ​ ​ 10 ​ ​ 4 ​ ​ 2 ​ ​ 9 ​ ​ 87 ​ 90+ days past due ​ ​ 2 ​ ​ 1 ​ ​ 3 ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Non-performing ​ ​ 30 ​ ​ 78 ​ ​ 62 ​ ​ 33 ​ ​ 22 ​ ​ 22 ​ ​ 8 ​ ​ 255 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 2,927 ​ ​ 1,961 ​ ​ 1,084 ​ ​ 353 ​ ​ 84 ​ ​ 29 ​ ​ 119 ​ ​ 6,557 ​ 30-59 days past due ​ ​ 49 ​ ​ 34 ​ ​ 27 ​ ​ 9 ​ ​ 4 ​ ​ ​ ​ ​ 4 ​ ​ 127 ​ 60-89 days past due ​ ​ 19 ​ ​ 14 ​ ​ 12 ​ ​ 5 ​ ​ 2 ​ ​ ​ ​ ​ 2 ​ ​ 54 ​ 90+ days past due ​ ​ ​ ​ ​ 6 ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 8 ​ Non-performing ​ ​ 42 ​ ​ 80 ​ ​ 55 ​ ​ 23 ​ ​ 9 ​ ​ 4 ​ ​ 1 ​ ​ 214 ​ Total retail customer receivables ​ $ 18,340 ​ $ 10,705 ​ $ 6,421 ​ $ 2,791 ​ $ 987 ​ $ 341 ​ $ 4,698 ​ $ 44,283 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving Charge Accounts ​ Total ​ Retail customer receivables: Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 2,939 ​ $ 12,435 ​ $ 7,228 ​ $ 3,660 ​ $ 1,600 ​ $ 823 ​ $ 2,753 ​ $ 31,438 ​ 30-59 days past due ​ ​ 2 ​ ​ 39 ​ ​ 39 ​ ​ 54 ​ ​ 13 ​ ​ 44 ​ ​ 28 ​ ​ 219 ​ 60-89 days past due ​ ​ 1 ​ ​ 15 ​ ​ 14 ​ ​ 20 ​ ​ 5 ​ ​ 15 ​ ​ 6 ​ ​ 76 ​ 90+ days past due ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 3 ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Non-performing ​ ​ ​ ​ ​ 40 ​ ​ 58 ​ ​ 41 ​ ​ 27 ​ ​ 34 ​ ​ 8 ​ ​ 208 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 674 ​ ​ 2,692 ​ ​ 1,702 ​ ​ 684 ​ ​ 224 ​ ​ 80 ​ ​ 99 ​ ​ 6,155 ​ 30-59 days past due ​ ​ 2 ​ ​ 18 ​ ​ 29 ​ ​ 36 ​ ​ 16 ​ ​ 52 ​ ​ 5 ​ ​ 158 ​ 60-89 days past due ​ ​ ​ ​ ​ 9 ​ ​ 17 ​ ​ 18 ​ ​ 8 ​ ​ 24 ​ ​ 2 ​ ​ 78 ​ 90+ days past due ​ ​ ​ ​ ​ 1 ​ ​ 2 ​ ​ 1 ​ ​ 2 ​ ​ 1 ​ ​ ​ ​ ​ 7 ​ Non-performing ​ ​ ​ ​ ​ 46 ​ ​ 58 ​ ​ 30 ​ ​ 16 ​ ​ 7 ​ ​ 1 ​ ​ 158 ​ Total retail customer receivables ​ $ 3,618 ​ $ 15,296 ​ $ 9,147 ​ $ 4,547 ​ $ 1,912 ​ $ 1,080 ​ $ 2,902 ​ $ 38,502 ​
Wholesale Receivables
Financing Receivables
Credit Quality Analysis	The credit quality analysis of wholesale receivables by year of origination was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Years ​ Revolving ​ Total ​ Wholesale receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 266 ​ $ 463 ​ $ 68 ​ $ 6 ​ $ 3 ​ $ 1 ​ $ 5,757 ​ $ 6,564 ​ 30+ days past due ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 6 ​ ​ 14 ​ ​ 4 ​ ​ 19 ​ ​ ​ ​ ​ 1 ​ ​ 863 ​ ​ 907 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 272 ​ $ 478 ​ $ 72 ​ $ 25 ​ $ 3 ​ $ 3 ​ $ 6,620 ​ $ 7,473 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total ​ Wholesale receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 631 ​ $ 93 ​ $ 21 ​ $ 4 ​ $ 1 ​ $ 160 ​ $ 5,175 ​ $ 6,085 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 23 ​ ​ 5 ​ ​ 20 ​ ​ ​ ​ ​ ​ ​ ​ 76 ​ ​ 712 ​ ​ 836 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 654 ​ $ 98 ​ $ 41 ​ $ 4 ​ $ 2 ​ $ 236 ​ $ 5,887 ​ $ 6,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 29, 2023 ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior Years ​ Revolving ​ Total ​ Wholesale receivables: ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 115 ​ $ 285 ​ $ 48 ​ $ 21 ​ $ 4 ​ $ 1 ​ $ 2,654 ​ $ 3,128 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 7 ​ ​ 7 ​ ​ 24 ​ ​ 2 ​ ​ ​ ​ ​ 1 ​ ​ 459 ​ ​ 500 ​ 30+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 122 ​ $ 292 ​ $ 72 ​ $ 24 ​ $ 4 ​ $ 2 ​ $ 3,113 ​ $ 3,629 ​

SECURITIZATION OF FINANCING R_2

SECURITIZATION OF FINANCING RECEIVABLES (Tables)	3 Months Ended
	Jan. 28, 2024
SECURITIZATION OF FINANCING RECEIVABLES
Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions	The components of securitization programs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Financing receivables securitized (retail notes) $ 6,418 ​ $ 7,357 ​ $ 5,102 ​ Allowance for credit losses ​ ​ (18) ​ (22) ​ (13) ​ Other assets (primarily restricted cash) ​ ​ 140 ​ 152 ​ 97 ​ Total restricted securitized assets $ 6,540 ​ $ 7,487 ​ $ 5,186 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term securitization borrowings ​ $ 6,116 ​ $ 6,995 ​ $ 4,864 ​ Accrued interest on borrowings ​ ​ 10 ​ ​ 13 ​ 6 ​ Total liabilities related to restricted securitized assets ​ $ 6,126 ​ $ 7,008 ​ $ 4,870 ​

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Jan. 28, 2024
INVENTORIES
Major Classification of Inventories	If all inventories had been valued on a “first-in, first-out” (FIFO) basis, the estimated inventories by major classification would have been as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Raw materials and supplies $ 4,117 ​ $ 4,080 ​ $ 4,975 ​ Work-in-process ​ ​ 1,223 ​ 1,010 ​ 1,478 ​ Finished goods and parts ​ ​ 6,146 ​ 5,435 ​ 6,347 ​ Total FIFO value ​ ​ 11,486 ​ 10,525 ​ 12,800 ​ Excess of FIFO over LIFO ​ ​ 2,549 ​ 2,365 ​ 2,744 ​ Inventories $ 8,937 ​ $ 8,160 ​ $ 10,056 ​ ​

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)	3 Months Ended
	Jan. 28, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS - NET
Changes in Goodwill by Operating Segments	The changes in amounts of goodwill by operating segments were as follows. There were no accumulated goodwill impairment losses. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production & Precision Ag ​ Small Ag & Turf ​ Construction & Forestry ​ Total Goodwill at October 30, 2022 ​ $ 646 ​ $ 318 ​ $ 2,723 ​ $ 3,687 ​ Translation adjustments ​ 15 ​ ​ 7 ​ ​ 182 ​ 204 ​ Goodwill at January 29, 2023 ​ $ 661 ​ $ 325 ​ $ 2,905 ​ $ 3,891 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill at October 29, 2023 ​ $ 702 ​ $ 363 ​ $ 2,835 ​ $ 3,900 ​ Translation adjustments ​ ​ 4 ​ ​ 2 ​ ​ 60 ​ ​ 66 ​ Goodwill at January 28, 2024 ​ $ 706 ​ $ 365 ​ $ 2,895 ​ $ 3,966 ​
Components of Other Intangible Assets	The components of other intangible assets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Customer lists and relationships $ 509 ​ $ 501 ​ $ 522 ​ Technology, patents, trademarks, and other ​ ​ 1,412 ​ 1,387 ​ 1,387 ​ Total at cost ​ ​ 1,921 ​ 1,888 ​ 1,909 ​ Less accumulated amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer lists and relationships ​ ​ 207 ​ ​ 195 ​ ​ 184 ​ Technology, patents, trademarks, and other ​ ​ 602 ​ ​ 560 ​ ​ 470 ​ Total accumulated amortization ​ ​ 809 ​ ​ 755 ​ ​ 654 ​ Other intangible assets – net $ 1,112 ​ $ 1,133 ​ $ 1,255 ​

SHORT-TERM BORROWINGS (Tables)

SHORT-TERM BORROWINGS (Tables)	3 Months Ended
	Jan. 28, 2024
SHORT-TERM BORROWINGS
Short-Term Borrowings	Short-term borrowings were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 ​ Commercial paper ​ $ 8,378 ​ $ 9,100 ​ $ 6,425 ​ Notes payable to banks ​ ​ 310 ​ ​ 483 ​ ​ 303 ​ Finance lease obligations due within one year ​ ​ 27 ​ ​ 25 ​ ​ 23 ​ Long-term borrowings due within one year ​ 8,402 ​ 8,331 ​ 7,378 ​ Short-term borrowings ​ $ 17,117 ​ $ 17,939 ​ $ 14,129 ​ ​

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	3 Months Ended
	Jan. 28, 2024
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ 2024 2023 ​ 2023 ​ Accounts payable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade payables $ 3,184 $ 3,467 ​ $ 3,616 ​ Dividends payable ​ 413 ​ 388 ​ 358 ​ Operating lease liabilities ​ ​ 293 ​ ​ 281 ​ ​ 305 ​ Deposits withheld from dealers and merchants ​ ​ 153 ​ ​ 163 ​ ​ 153 ​ Payables to unconsolidated affiliates ​ ​ 6 ​ ​ 6 ​ ​ 10 ​ Other ​ 183 ​ 153 ​ 156 ​ Accrued expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee benefits ​ 1,107 ​ 2,152 ​ 1,015 ​ Product warranties ​ 1,589 ​ 1,610 ​ 1,444 ​ Accrued taxes ​ ​ 1,364 ​ ​ 1,558 ​ ​ 1,336 ​ Derivative liabilities ​ ​ 744 ​ ​ 1,130 ​ ​ 891 ​ Dealer sales discounts ​ 243 ​ 1,243 ​ 256 ​ Extended warranty premium ​ ​ 1,047 ​ ​ 1,021 ​ ​ 901 ​ Unearned revenue (contractual liability) ​ 700 ​ 676 ​ 601 ​ Unearned operating lease revenue ​ ​ 456 ​ ​ 451 ​ ​ 406 ​ Accrued interest ​ ​ 502 ​ ​ 434 ​ ​ 371 ​ Other ​ 1,377 ​ 1,397 ​ 1,289 ​ Accounts payable and accrued expenses $ 13,361 $ 16,130 ​ $ 13,108 ​ ​ Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $2,410 at January 28, 2024, $2,228 at October 29, 2023, and $1,540 at January 29, 2023. Other eliminations were made for accrued taxes and other accrued expenses.

LONG-TERM BORROWINGS (Tables)

LONG-TERM BORROWINGS (Tables)	3 Months Ended
	Jan. 28, 2024
LONG-TERM BORROWINGS
Long-Term Borrowings	Long-term borrowings consisted of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 ​ Underwritten term debt ​ ​ ​ ​ ​ ​ ​ U.S. dollar notes and debentures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.75% notes due 2025 ​ $ 700 ​ $ 700 ​ $ 700 ​ 6.55% debentures due 2028 ​ 200 ​ 200 ​ 200 ​ 5.375% notes due 2029 ​ 500 ​ 500 ​ 500 ​ 3.10% notes due 2030 ​ 700 ​ 700 ​ ​ 700 ​ 8.10% debentures due 2030 ​ ​ 250 ​ ​ 250 ​ 250 ​ 7.125% notes due 2031 ​ 300 ​ 300 ​ 300 ​ 3.90% notes due 2042 ​ 1,250 ​ 1,250 ​ 1,250 ​ 2.875% notes due 2049 ​ ​ 500 ​ ​ 500 ​ ​ 500 ​ 3.75% notes due 2050 ​ ​ 850 ​ ​ 850 ​ ​ 850 ​ Euro notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.375% notes due 2024 (€800 principal) ​ ​ ​ ​ ​ ​ ​ ​ 871 ​ 1.85% notes due 2028 (€600 principal) ​ ​ 651 ​ ​ 634 ​ ​ 653 ​ 2.20% notes due 2032 (€600 principal) ​ ​ 651 ​ ​ 634 ​ ​ 653 ​ 1.65% notes due 2039 (€650 principal) ​ ​ 705 ​ ​ 687 ​ ​ 708 ​ Serial issuances: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes ​ 31,001 ​ ​ 29,638 ​ ​ 25,618 ​ Other notes and finance lease obligations ​ 1,810 ​ 1,769 ​ 1,440 ​ Less debt issuance costs and debt discounts ​ ​ (135) ​ ​ (135) ​ ​ (122) ​ Long-term borrowings $ 39,933 ​ $ 38,477 ​ $ 35,071 ​ ​ Medium-term notes due through 2033 are primarily offered by prospectus and issued at fixed and variable rates. The principal balances of the medium-term notes were $31,808, $30,902, and $26,367 at January 28, 2024, October 29, 2023, and January 29, 2023, respectively. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other.

LEASES - LESSOR (Tables)

LEASES - LESSOR (Tables)	3 Months Ended
	Jan. 28, 2024
LEASES - LESSOR
Schedule of Lease Revenues Earned	Lease revenues earned by us follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ January 28 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ Sales-type and direct finance lease revenues ​ $ 47 ​ $ 41 ​ Operating lease revenues ​ ​ 339 ​ ​ 321 ​ Variable lease revenues ​ ​ 4 ​ ​ 6 ​ Total lease revenues ​ $ 390 ​ $ 368 ​

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Jan. 28, 2024
COMMITMENTS AND CONTINGENCIES
Warranty Reconciliation	The reconciliation of the changes in the warranty liability follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ January 28 ​ January 29 ​ ​ ​ 2024 ​ 2023 ​ Beginning of period balance $ 1,610 $ 1,427 ​ Warranty claims paid ​ ​ (309) ​ (262) ​ New product warranty accruals ​ ​ 281 ​ 256 ​ Foreign exchange ​ ​ 7 ​ 23 ​ End of period balance ​ $ 1,589 ​ $ 1,444 ​

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Jan. 28, 2024
FAIR VALUE MEASUREMENTS
Fair Values of Financial Instruments	The fair values of financial instruments that do not approximate the carrying values were as follows. Long-term borrowings exclude finance lease liabilities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ October 29, 2023 ​ January 29, 2023 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair Financing receivables – net ​ $ 43,708 ​ $ 43,236 ​ $ 43,673 ​ $ 42,777 ​ $ 36,882 ​ $ 35,894 ​ Financing receivables securitized – net ​ ​ 6,400 ​ ​ 6,225 ​ ​ 7,335 ​ ​ 7,056 ​ ​ 5,089 ​ ​ 4,869 ​ Short-term securitization borrowings ​ ​ 6,116 ​ ​ 6,104 ​ ​ 6,995 ​ ​ 6,921 ​ ​ 4,864 ​ ​ 4,785 ​ Long-term borrowings due within one year ​ ​ 8,402 ​ ​ 8,283 ​ ​ 8,331 ​ 8,156 ​ ​ 7,378 ​ ​ 7,220 ​ Long-term borrowings ​ ​ 39,878 ​ ​ 39,321 ​ ​ 38,428 ​ 36,873 ​ ​ 35,035 ​ ​ 34,149 ​ Fair value measurements above were Level 3 for all financing receivables and Level 2 for all borrowings.
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis follow, excluding our cash equivalents, which were carried at a cost that approximates fair value and consisted of money market funds and time deposits. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28 October 29 January 29 ​ ​ 2024 ​ 2023 ​ 2023 Level 1: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ ​ ​ International equity securities ​ $ 5 ​ $ 3 ​ $ 2 ​ International mutual funds securities ​ ​ 57 ​ ​ 101 ​ ​ ​ ​ U.S. equity fund ​ ​ 105 ​ ​ 86 ​ ​ 86 ​ U.S. fixed income fund ​ ​ 34 ​ 32 ​ 118 ​ U.S. government debt securities ​ ​ 274 ​ 78 ​ 64 ​ Total Level 1 marketable securities ​ ​ 475 ​ ​ 300 ​ ​ 270 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 2: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ ​ 220 ​ 244 ​ 209 ​ International debt securities ​ ​ 87 ​ ​ 1 ​ ​ 18 ​ Mortgage-backed securities ​ ​ 161 ​ 185 ​ 157 ​ Municipal debt securities ​ ​ 69 ​ 75 ​ 71 ​ U.S. government debt securities ​ ​ 124 ​ ​ 141 ​ ​ 127 ​ Total Level 2 marketable securities ​ ​ 661 ​ 646 ​ 582 ​ Other assets – Derivatives ​ 253 ​ ​ 292 ​ ​ 360 ​ Accounts payable and accrued expenses – Derivatives ​ ​ 744 ​ ​ 1,130 ​ ​ 891 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 3: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses – Deferred consideration ​ 176 ​ ​ 186 ​ ​ 225 ​ ​ The mortgage-backed securities are primarily issued by U.S. government sponsored enterprises.
Contractual Maturities of Debt Securities	The contractual maturities of debt securities at January 28, 2024 follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Fair ​ ​ ​ Cost ​ Value ​ Due in one year or less $ 22 ​ $ 21 ​ Due after one through five years ​ ​ 242 ​ ​ 194 ​ Due after five through 10 years ​ ​ 421 ​ ​ 398 ​ Due after 10 years ​ ​ 192 ​ ​ 161 ​ Mortgage-backed securities ​ ​ 189 ​ ​ 161 ​ Debt securities $ 1,066 $ 935 ​

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Jan. 28, 2024
DERIVATIVE INSTRUMENTS
Fair Values of Derivative Instruments in Consolidated Balance Sheets	Fair values of our derivative instruments and the associated notional amounts were as follows. Assets are recorded in “Other assets,” while liabilities are recorded in “Accounts payable and accrued expenses.” ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 28, 2024 ​ October 29, 2023 ​ January 29, 2023 ​ ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ Notional ​ Assets ​ Liabilities ​ Notional ​ Assets ​ Liabilities ​ Notional ​ Assets ​ Liabilities Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts $ 2,200 ​ $ 27 ​ $ 4 $ 1,500 ​ $ 45 ​ ​ ​ $ 1,950 ​ $ 69 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 12,633 ​ ​ 58 ​ ​ 592 ​ ​ 12,691 ​ ​ ​ ​ $ 970 ​ ​ 10,802 ​ ​ 21 ​ $ 678 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 14,200 ​ ​ 129 ​ ​ 82 ​ ​ 13,853 ​ ​ 169 ​ ​ 98 ​ ​ 11,147 ​ ​ 188 ​ ​ 97 ​ Foreign exchange contracts ​ ​ 7,856 ​ ​ 39 ​ ​ 53 ​ ​ 8,117 ​ 75 ​ 54 ​ ​ 9,304 ​ 71 ​ 110 ​ Cross-currency interest rate contracts ​ ​ 189 ​ ​ ​ ​ ​ 13 ​ ​ 176 ​ 3 ​ 8 ​ ​ 234 ​ 11 ​ 6 ​
Amounts Recorded in the Consolidated Balance Sheets Related to Borrowings Designated in Fair Value Hedging Relationships	The amounts recorded in the consolidated balance sheets related to borrowings designated in fair value hedging relationships were as follows. Fair value hedging adjustments are included in the carrying amount of the hedged item. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Hedging Relationships ​ Discontinued Hedging Relationships ​ ​ ​ Carrying Amount ​ Cumulative Fair Value ​ Carrying Amount of ​ Cumulative Fair Value ​ ​ ​ of Hedged Item ​ Hedging Amount ​ Formerly Hedged Item ​ Hedging Amount ​ January 28, 2024 ​ ​ ​ ​ ​ ​ ​ ​ Short-term borrowings ​ $ 288 ​ $ (9) ​ $ 1,960 ​ $ 10 ​ Long-term borrowings ​ ​ 11,745 ​ ​ (537) ​ ​ 7,711 ​ ​ (270) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 29, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,814 ​ $ 15 ​ Long-term borrowings ​ $ 11,660 ​ $ (976) ​ ​ 7,144 ​ ​ (288) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 29, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term borrowings ​ ​ ​ ​ ​ ​ ​ $ 1,915 ​ $ 15 ​ Long-term borrowings ​ $ 10,088 ​ $ (666) ​ ​ 5,506 ​ ​ (83) ​
Gains (Losses) Related to Derivative Instruments on Statements 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ January 28 ​ January 29 ​ ​ 2024 ​ 2023 Fair Value Hedges ​ ​ Interest rate contracts - Interest expense $ 344 ​ $ 239 ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ Recognized in OCI: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) $ (8) ​ $ (1) ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI: ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense ​ 11 ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Net sales ​ ​ ​ ​ $ (7) ​ Interest rate contracts - Interest expense $ (9) ​ ​ (8) ​ Foreign exchange contracts - Net sales ​ ​ 5 ​ ​ 1 ​ Foreign exchange contracts - Cost of sales ​ (30) ​ 5 ​ Foreign exchange contracts - Other operating expenses ​ (181) ​ (142) ​ Total not designated ​ $ (215) ​ $ (151) ​
Impact on Derivative Assets and Liabilities Related to Netting Arrangements and Collateral	Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities related to netting arrangements and any collateral received or paid follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Netting ​ ​ ​ ​ ​ January 28, 2024 Recognized Arrangements Collateral Net Amount Assets $ 253 $ (112) $ (19) $ 122 ​ Liabilities ​ ​ 744 ​ ​ (112) ​ ​ (368) ​ ​ 264 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Netting ​ ​ ​ ​ ​ ​ October 29, 2023 Recognized Arrangements Collateral Net Amount Assets ​ $ 292 $ (152) ​ ​ $ 140 ​ Liabilities ​ ​ 1,130 ​ (152) ​ $ (659) ​ ​ 319 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Netting ​ ​ ​ ​ ​ ​ January 29, 2023 ​ Recognized Arrangements Collateral Net Amount Assets ​ $ 360 $ (162) $ (47) ​ $ 151 ​ Liabilities ​ 891 ​ ​ (162) ​ ​ (349) ​ 380 ​

SHARE-BASED AWARDS (Tables)

SHARE-BASED AWARDS (Tables)	3 Months Ended
	Jan. 28, 2024
SHARE-BASED AWARDS
Restricted Stock Units Granted and Weighted-Average Grant Date Fair Values	During the three months ended January 28, 2024, the restricted stock units (RSUs) granted in thousands of shares and the weighted-average grant date fair values, using the closing price of our common stock on the grant date, in dollars follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Date ​ ​ ​ Shares ​ Fair Value ​ Service-based 360 $ 377.04 Performance/service-based ​ 52 ​ ​ 360.53 ​ Market/service-based ​ 52 ​ ​ 370.87 ​

ORGANIZATION AND CONSOLIDATION

ORGANIZATION AND CONSOLIDATION (Details)	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
ORGANIZATION AND CONSOLIDATION
Fiscal period duration	91 days	91 days

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING STANDARDS (Details)	Jan. 28, 2024
ASU 2022-04
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2022-02
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2022-01
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2021-08
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2023-09
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2023-07
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2023-06
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2023-05
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2022-03
New Accounting Standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false

REVENUE RECOGNITION - Primary G

REVENUE RECOGNITION - Primary Geographic Market, Major Product Line, and Timing (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Revenue Recognition
Net sales and revenues	$ 12,185	$ 12,652
Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	10,682	11,530
Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	1,503	1,122
Production Agriculture
Revenue Recognition
Net sales	4,791	5,112
Small Agriculture
Revenue Recognition
Net sales	1,718	2,194
Turf
Revenue Recognition
Net sales	649	719
Construction
Revenue Recognition
Net sales	1,483	1,483
Compact Construction
Revenue Recognition
Net sales	626	473
Roadbuilding
Revenue Recognition
Net sales	763	818
Forestry
Revenue Recognition
Net sales	292	356
Financial Products
Revenue Recognition
Financial	1,480	1,102
Other
Revenue Recognition
Other net sales and revenues	383	395
United States
Revenue Recognition
Net sales and revenues	7,131	6,907
Canada
Revenue Recognition
Net sales and revenues	886	931
Western Europe
Revenue Recognition
Net sales and revenues	1,421	1,459
Central Europe and CIS
Revenue Recognition
Net sales and revenues	354	412
Latin America
Revenue Recognition
Net sales and revenues	1,303	1,827
Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	1,090	1,116
Production & Precision Ag (PPA)
Revenue Recognition
Net sales and revenues	5,043	5,303
Production & Precision Ag (PPA) | Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	4,955	5,248
Production & Precision Ag (PPA) | Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	88	55
Production & Precision Ag (PPA) | Production Agriculture
Revenue Recognition
Net sales	4,791	5,112
Production & Precision Ag (PPA) | Financial Products
Revenue Recognition
Financial	60	31
Production & Precision Ag (PPA) | Other
Revenue Recognition
Other net sales and revenues	192	160
Production & Precision Ag (PPA) | United States
Revenue Recognition
Net sales and revenues	2,721	2,628
Production & Precision Ag (PPA) | Canada
Revenue Recognition
Net sales and revenues	386	360
Production & Precision Ag (PPA) | Western Europe
Revenue Recognition
Net sales and revenues	503	501
Production & Precision Ag (PPA) | Central Europe and CIS
Revenue Recognition
Net sales and revenues	179	202
Production & Precision Ag (PPA) | Latin America
Revenue Recognition
Net sales and revenues	819	1,237
Production & Precision Ag (PPA) | Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	435	375
Small Ag & Turf (SAT)
Revenue Recognition
Net sales and revenues	2,492	3,054
Small Ag & Turf (SAT) | Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	2,456	3,029
Small Ag & Turf (SAT) | Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	36	25
Small Ag & Turf (SAT) | Small Agriculture
Revenue Recognition
Net sales	1,718	2,194
Small Ag & Turf (SAT) | Turf
Revenue Recognition
Net sales	649	719
Small Ag & Turf (SAT) | Financial Products
Revenue Recognition
Financial	26	18
Small Ag & Turf (SAT) | Other
Revenue Recognition
Other net sales and revenues	99	123
Small Ag & Turf (SAT) | United States
Revenue Recognition
Net sales and revenues	1,345	1,665
Small Ag & Turf (SAT) | Canada
Revenue Recognition
Net sales and revenues	118	146
Small Ag & Turf (SAT) | Western Europe
Revenue Recognition
Net sales and revenues	517	564
Small Ag & Turf (SAT) | Central Europe and CIS
Revenue Recognition
Net sales and revenues	73	123
Small Ag & Turf (SAT) | Latin America
Revenue Recognition
Net sales and revenues	98	156
Small Ag & Turf (SAT) | Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	341	400
Construction & Forestry (CF)
Revenue Recognition
Net sales and revenues	3,274	3,255
Construction & Forestry (CF) | Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	3,243	3,230
Construction & Forestry (CF) | Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	31	25
Construction & Forestry (CF) | Construction
Revenue Recognition
Net sales	1,483	1,483
Construction & Forestry (CF) | Compact Construction
Revenue Recognition
Net sales	626	473
Construction & Forestry (CF) | Roadbuilding
Revenue Recognition
Net sales	763	818
Construction & Forestry (CF) | Forestry
Revenue Recognition
Net sales	292	356
Construction & Forestry (CF) | Financial Products
Revenue Recognition
Financial	18	13
Construction & Forestry (CF) | Other
Revenue Recognition
Other net sales and revenues	92	112
Construction & Forestry (CF) | United States
Revenue Recognition
Net sales and revenues	2,095	1,901
Construction & Forestry (CF) | Canada
Revenue Recognition
Net sales and revenues	210	275
Construction & Forestry (CF) | Western Europe
Revenue Recognition
Net sales and revenues	361	365
Construction & Forestry (CF) | Central Europe and CIS
Revenue Recognition
Net sales and revenues	94	75
Construction & Forestry (CF) | Latin America
Revenue Recognition
Net sales and revenues	256	339
Construction & Forestry (CF) | Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	258	300
Financial Services (FS)
Revenue Recognition
Financial	1,376	1,040
Financial Services (FS) | Revenue Recognized at a Point in Time
Revenue Recognition
Financial	28	23
Financial Services (FS) | Revenue Recognized Over Time
Revenue Recognition
Financial	1,348	1,017
Financial Services (FS) | Financial Products
Revenue Recognition
Financial	1,376	1,040
Financial Services (FS) | United States
Revenue Recognition
Financial	970	713
Financial Services (FS) | Canada
Revenue Recognition
Financial	172	150
Financial Services (FS) | Western Europe
Revenue Recognition
Financial	40	29
Financial Services (FS) | Central Europe and CIS
Revenue Recognition
Financial	8	12
Financial Services (FS) | Latin America
Revenue Recognition
Financial	130	95
Financial Services (FS) | Asia, Africa, Oceania, and Middle East
Revenue Recognition
Financial	$ 56	$ 41

REVENUE RECOGNITION - Deferred

REVENUE RECOGNITION - Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023	Oct. 29, 2023
Deferred Revenue
Deferred revenue received	$ 1,747	$ 1,502	$ 1,697
Revenue recognized from deferred revenue	$ 230	$ 215

REVENUE RECOGNITION - Unsatisfi

REVENUE RECOGNITION - Unsatisfied Performance Obligations (Details) $ in Millions	Jan. 28, 2024 USD ($)
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 1,531
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-29
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 373
Period estimated revenue to be recognized	9 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	$ 409
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	$ 304
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	$ 179
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	$ 108
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-10-30
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 74
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-10-29
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 84
Period estimated revenue to be recognized	24 months

OTHER COMPREHENSIVE INCOME IT_3

OTHER COMPREHENSIVE INCOME ITEMS - After-Tax Components (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 22,075	$ 21,785	$ 21,332
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(2,863)	(3,114)	(2,372)
Retirement Benefits Adjustment
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(866)	(845)	(400)
Cumulative Translation Adjustment
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(1,877)	(2,151)	(1,913)
Unrealized Gain (Loss) on Derivatives
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(23)	(8)	8
Unrealized Gain (Loss) on Debt Securities
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (97)	$ (110)	$ (67)

OTHER COMPREHENSIVE INCOME IT_4

OTHER COMPREHENSIVE INCOME ITEMS - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Other Comprehensive Income (Loss), Before Tax
Interest expense	$ (802)	$ (479)
Other operating expenses	(369)	(299)
Total other comprehensive income (loss), before tax	235	674
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	16	10
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss), net of income taxes	251	684
Cumulative Translation Adjustment
Other Comprehensive Income (Loss), Before Tax
Total other comprehensive income (loss), before tax	273	669
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	1	12
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss), net of income taxes	274	681
Unrealized Gain (Loss) on Derivatives
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	(8)	(1)
Total other comprehensive income (loss), before tax	(19)	(16)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	2
Total other comprehensive income (loss), tax (expense) credit	4	3
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	(6)	(1)
Other comprehensive income (loss), net of income taxes	(15)	(13)
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	(11)	(15)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	2	3
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	(9)	(12)
Unrealized Gain (Loss) on Debt Securities
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	1	34
Total other comprehensive income (loss), before tax	9	34
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	6	(7)
Total other comprehensive income (loss), tax (expense) credit	4	(7)
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	7	27
Other comprehensive income (loss), net of income taxes	13	27
Unrealized Gain (Loss) on Debt Securities | Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other income	8
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	(2)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	6
Retirement Benefits Adjustment
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	(17)	(1)
Total other comprehensive income (loss), before tax	(28)	(13)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	4
Total other comprehensive income (loss), tax (expense) credit	7	2
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	(13)	(1)
Other comprehensive income (loss), net of income taxes	(21)	(11)
Actuarial (Gain) Loss | Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	(20)	(21)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	5	5
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	(15)	(16)
Prior Service (Credit) Cost | Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	9	9
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	(2)	(3)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	$ 7	$ 6

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
EARNINGS PER SHARE
Net income attributable to Deere & Company	$ 1,751	$ 1,959
Average shares outstanding	279.9	297.6
Basic (in dollars per share)	$ 6.25	$ 6.58
Diluted Earnings Per Share
Average shares outstanding	279.9	297.6
Effect of dilutive stock options and restricted stock awards (in shares)	1.2	1.5
Total potential shares outstanding	281.1	299.1
Diluted (in dollars per share)	$ 6.23	$ 6.55
Shares excluded from EPS calculation, as antidilutive	0.2	0.1

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic (Benefit) Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Pensions
Net Periodic (Benefit) Cost
Service cost	$ 58	$ 60
Interest cost	$ 136	$ 133
Location of interest cost	Other operating expenses	Other operating expenses
Expected return on plan assets	$ (241)	$ (212)
Location of expected return on plan assets	Other operating expenses	Other operating expenses
Amortization of actuarial gain	$ (4)	$ (5)
Location of amortization of actuarial gain	Other operating expenses	Other operating expenses
Amortization of prior service (credit) cost	$ 10	$ 10
Location of amortization of prior service (credit) cost	Other operating expenses	Other operating expenses
Net (benefit) cost	$ (41)	$ (14)
OPEB
Net Periodic (Benefit) Cost
Service cost	5	7
Interest cost	$ 43	$ 43
Location of interest cost	Other operating expenses	Other operating expenses
Expected return on plan assets	$ (27)	$ (29)
Location of expected return on plan assets	Other operating expenses	Other operating expenses
Amortization of actuarial gain	$ (16)	$ (16)
Location of amortization of actuarial gain	Other operating expenses	Other operating expenses
Amortization of prior service (credit) cost	$ (1)	$ (1)
Location of amortization of prior service (credit) cost	Other operating expenses	Other operating expenses
Net (benefit) cost	$ 4	$ 4

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFITS - Employer Contributions (Details) $ in Millions	3 Months Ended
	Jan. 28, 2024 USD ($)
Pensions
Employer Contributions
Contributed	$ 24
Expected contributions remainder of the year	61
OPEB
Employer Contributions
Contributed	106
Expected contributions remainder of the year	34
OPEB | United States
Employer Contributions
Employer voluntary contribution	$ 60

SEGMENT DATA (Details)

SEGMENT DATA (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023	Oct. 29, 2023
Net Sales and Revenues
Net sales and revenues	$ 12,185	$ 12,652
% Change - Net sales and revenues	(4.00%)
Operating Profit
Net income attributable to Deere & Company	$ 1,751	1,959
% Change - Net income attributable to Deere & Company	(11.00%)
Identifiable Assets
Total Assets	$ 101,371	91,620	$ 104,087
Operating Segments (Other)
Reconciling items	26	(22)
Income taxes	$ (469)	(537)
% Change - Income taxes	(13.00%)
Operating Segment
Operating Profit
Total operating profit	$ 2,194	2,518
% Change - Operating profit	(13.00%)
Corporate
Identifiable Assets
Total Assets	$ 10,615	10,381	13,134
Other Revenues
Net Sales and Revenues
Other revenues	$ 323	210
% Change - Other revenues	54%
Production & Precision Ag (PPA)
Net Sales and Revenues
Net sales and revenues	$ 5,043	5,303
Production & Precision Ag (PPA) | Operating Segment
Net Sales and Revenues
Intersegment sales and revenues	$ 8	5
% Change - Intersegment sales and revenues	60%
Operating Profit
Total operating profit	$ 1,045	1,208
% Change - Operating profit	(13.00%)
Identifiable Assets
Total Assets	$ 9,059	9,393	8,734
Small Ag & Turf (SAT)
Net Sales and Revenues
Net sales and revenues	2,492	3,054
Small Ag & Turf (SAT) | Operating Segment
Net Sales and Revenues
Intersegment sales and revenues	$ 1	3
% Change - Intersegment sales and revenues	(67.00%)
Operating Profit
Total operating profit	$ 326	447
% Change - Operating profit	(27.00%)
Identifiable Assets
Total Assets	$ 4,426	4,893	4,348
Construction & Forestry (CF)
Net Sales and Revenues
Net sales and revenues	3,274	3,255
Construction & Forestry (CF) | Operating Segment
Operating Profit
Total operating profit	$ 566	625
% Change - Operating profit	(9.00%)
Identifiable Assets
Total Assets	$ 7,371	7,232	7,139
Financial Services (FS)
Net Sales and Revenues
Financial revenues	1,376	1,040
Financial Services (FS) | Operating Segment
Net Sales and Revenues
Financial revenues	$ 1,376	1,040
% Change - Financial revenues	32%
Intersegment sales and revenues	$ 176	204
% Change - Intersegment sales and revenues	(14.00%)
Operating Profit
Total operating profit	$ 257	238
% Change - Operating profit	8%
Identifiable Assets
Total Assets	$ 69,900	59,721	$ 70,732
Net Sales
Net Sales and Revenues
Net sales and revenues	10,486	11,402
Net Sales | Production & Precision Ag (PPA) | Operating Segment
Net Sales and Revenues
Net sales	$ 4,849	5,198
% Change - Net sales	(7.00%)
Net Sales | Small Ag & Turf (SAT) | Operating Segment
Net Sales and Revenues
Net sales	$ 2,425	3,001
% Change - Net sales	(19.00%)
Net Sales | Construction & Forestry (CF) | Operating Segment
Net Sales and Revenues
Net sales	$ 3,212	$ 3,203

FINANCING RECEIVABLES - Delinqu

FINANCING RECEIVABLES - Delinquency Status (Details)	3 Months Ended
	Jan. 28, 2024
FINANCING RECEIVABLES
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false]	false
Threshold for past due balances	30 days
Generally the threshold for a financing receivable to be considered non-performing	90 days
Generally the threshold when a receivable is delinquent and the estimated uncollectible amount is written off	120 days

FINANCING RECEIVABLES - Retail

FINANCING RECEIVABLES - Retail Notes, Financing Leases, and Revolving Charge Accounts Credit Quality Analysis (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Credit Quality Analysis
Total retail customer receivables	$ 50,303		$ 42,131
Retail Customer Receivables
Credit Quality Analysis
2024 and 2023, respectively	4,066	$ 18,340	3,618
2023 and 2022, respectively	16,712	10,705	15,296
2022 and 2021, respectively	9,816	6,421	9,147
2021 and 2020, respectively	5,707	2,791	4,547
2020 and 2019, respectively	2,409	987	1,912
Prior years	1,114	341	1,080
Revolving charge accounts	3,006	4,698	2,902
Total retail customer receivables	42,830	44,283	38,502
Retail Customer Receivables | Agriculture and Turf | 30-59 Days Past Due
Credit Quality Analysis
2024 and 2023, respectively	5	62	2
2023 and 2022, respectively	122	75	39
2022 and 2021, respectively	66	39	39
2021 and 2020, respectively	47	21	54
2020 and 2019, respectively	22	9	13
Prior years	11	3	44
Revolving charge accounts	71	29	28
Total retail customer receivables	344	238	219
Retail Customer Receivables | Agriculture and Turf | 60-89 Days Past Due
Credit Quality Analysis
2024 and 2023, respectively	1	18	1
2023 and 2022, respectively	50	26	15
2022 and 2021, respectively	26	18	14
2021 and 2020, respectively	15	10	20
2020 and 2019, respectively	7	4	5
Prior years	5	2	15
Revolving charge accounts	16	9	6
Total retail customer receivables	120	87	76
Retail Customer Receivables | Agriculture and Turf | 90 Days or Greater Past Due
Credit Quality Analysis
2024 and 2023, respectively		2
2023 and 2022, respectively	1	1	1
2022 and 2021, respectively	1	3
2021 and 2020, respectively	3	3	3
2020 and 2019, respectively	4		1
Total retail customer receivables	9	9	5
Retail Customer Receivables | Agriculture and Turf | Current
Credit Quality Analysis
2024 and 2023, respectively	3,248	15,191	2,939
2023 and 2022, respectively	13,626	8,430	12,435
2022 and 2021, respectively	7,731	5,120	7,228
2021 and 2020, respectively	4,577	2,334	3,660
2020 and 2019, respectively	2,032	853	1,600
Prior years	931	280	823
Revolving charge accounts	2,798	4,526	2,753
Total retail customer receivables	34,943	36,734	31,438
Retail Customer Receivables | Agriculture and Turf | Non-performing
Credit Quality Analysis
2024 and 2023, respectively		30
2023 and 2022, respectively	49	78	40
2022 and 2021, respectively	95	62	58
2021 and 2020, respectively	66	33	41
2020 and 2019, respectively	34	22	27
Prior years	42	22	34
Revolving charge accounts	11	8	8
Total retail customer receivables	297	255	208
Retail Customer Receivables | Construction and Forestry | 30-59 Days Past Due
Credit Quality Analysis
2024 and 2023, respectively	8	49	2
2023 and 2022, respectively	73	34	18
2022 and 2021, respectively	46	27	29
2021 and 2020, respectively	26	9	36
2020 and 2019, respectively	8	4	16
Prior years	3		52
Revolving charge accounts	5	4	5
Total retail customer receivables	169	127	158
Retail Customer Receivables | Construction and Forestry | 60-89 Days Past Due
Credit Quality Analysis
2024 and 2023, respectively		19
2023 and 2022, respectively	26	14	9
2022 and 2021, respectively	20	12	17
2021 and 2020, respectively	13	5	18
2020 and 2019, respectively	6	2	8
Prior years	3		24
Revolving charge accounts	2	2	2
Total retail customer receivables	70	54	78
Retail Customer Receivables | Construction and Forestry | 90 Days or Greater Past Due
Credit Quality Analysis
2023 and 2022, respectively		6	1
2022 and 2021, respectively	2	1	2
2021 and 2020, respectively	1		1
2020 and 2019, respectively			2
Prior years	1	1	1
Total retail customer receivables	4	8	7
Retail Customer Receivables | Construction and Forestry | Current
Credit Quality Analysis
2024 and 2023, respectively	803	2,927	674
2023 and 2022, respectively	2,698	1,961	2,692
2022 and 2021, respectively	1,743	1,084	1,702
2021 and 2020, respectively	911	353	684
2020 and 2019, respectively	276	84	224
Prior years	109	29	80
Revolving charge accounts	101	119	99
Total retail customer receivables	6,641	6,557	6,155
Retail Customer Receivables | Construction and Forestry | Non-performing
Credit Quality Analysis
2024 and 2023, respectively	1	42
2023 and 2022, respectively	67	80	46
2022 and 2021, respectively	86	55	58
2021 and 2020, respectively	48	23	30
2020 and 2019, respectively	20	9	16
Prior years	9	4	7
Revolving charge accounts	2	1	1
Total retail customer receivables	$ 233	$ 214	$ 158

FINANCING RECEIVABLES - Wholesa

FINANCING RECEIVABLES - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Credit Quality Analysis
Total wholesale receivables	$ 50,303		$ 42,131
Wholesale Receivables
Credit Quality Analysis
2024 and 2023, respectively	272	$ 654	122
2023 and 2022, respectively	478	98	292
2022 and 2021, respectively	72	41	72
2021 and 2020, respectively	25	4	24
2020 and 2019, respectively	3	2	4
Prior years	3	236	2
Revolving	6,620	5,887	3,113
Total wholesale receivables	7,473	6,922	3,629
Wholesale Receivables | Agriculture and Turf | 30+ days past due
Credit Quality Analysis
2023 and 2022, respectively	1
Total wholesale receivables	1
Wholesale Receivables | Agriculture and Turf | Current
Credit Quality Analysis
2024 and 2023, respectively	266	631	115
2023 and 2022, respectively	463	93	285
2022 and 2021, respectively	68	21	48
2021 and 2020, respectively	6	4	21
2020 and 2019, respectively	3	1	4
Prior years	1	160	1
Revolving	5,757	5,175	2,654
Total wholesale receivables	6,564	6,085	3,128
Wholesale Receivables | Agriculture and Turf | Non-performing
Credit Quality Analysis
2021 and 2020, respectively			1
2020 and 2019, respectively		1
Prior years	1
Total wholesale receivables	1	1	1
Wholesale Receivables | Construction and Forestry | Current
Credit Quality Analysis
2024 and 2023, respectively	6	23	7
2023 and 2022, respectively	14	5	7
2022 and 2021, respectively	4	20	24
2021 and 2020, respectively	19		2
Prior years	1	76	1
Revolving	863	712	459
Total wholesale receivables	$ 907	$ 836	$ 500

FINANCING RECEIVABLES - Allowan

FINANCING RECEIVABLES - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023	Oct. 29, 2023
Allowance:
Beginning of period balance	$ 197	$ 325
Provision (credit)		11
Provision (credit) subtotal	33	(131)
Write-offs	(42)	(25)
Recoveries	9	10
Translation adjustments	(2)	(19)
End of period balance	195	160
Financing receivables:
End of period balance	50,303	42,131
Russia
Allowance:
Provision transferred to held for sale		(142)
Retail Customer Receivables
Allowance:
Write-offs	(42)
Financing receivables:
End of period balance	42,830	38,502	$ 44,283
Retail Notes & Financing Leases
Allowance:
Beginning of period balance	172	299
Provision (credit)		15
Provision (credit) subtotal	35	(127)
Write-offs	(31)	(18)
Recoveries	1	4
Translation adjustments		(18)
End of period balance	177	140
Financing receivables:
End of period balance	39,824	35,600
Retail Notes & Financing Leases | Russia
Allowance:
Provision transferred to held for sale		(142)
Revolving Charge Accounts
Allowance:
Beginning of period balance	21	22
Provision (credit)		(4)
Provision (credit) subtotal	(2)	(4)
Write-offs	(11)	(7)
Recoveries	8	5
End of period balance	16	16
Financing receivables:
End of period balance	3,006	2,902
Wholesale Receivables
Allowance:
Beginning of period balance	4	4
Recoveries		1
Translation adjustments	(2)	(1)
End of period balance	2	4
Financing receivables:
End of period balance	$ 7,473	$ 3,629	$ 6,922

FINANCING RECEIVABLES - Write-o

FINANCING RECEIVABLES - Write-offs by Year of Origination (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Write-offs by Year of Origination
Total	$ 42	$ 25
Retail Customer Receivables
Write-offs by Year of Origination
2023	8
2022	11
2021	5
2020	5
Prior Years	2
Revolving Charge Accounts	11
Total	42
Retail Customer Receivables | Agriculture and Turf
Write-offs by Year of Origination
2023	2
2022	4
2021	3
2020	4
Prior Years	1
Revolving Charge Accounts	9
Total	23
Retail Customer Receivables | Construction and Forestry
Write-offs by Year of Origination
2023	6
2022	7
2021	2
2020	1
Prior Years	1
Revolving Charge Accounts	2
Total	$ 19

FINANCING RECEIVABLES - Modific

FINANCING RECEIVABLES - Modifications (Details) $ in Millions	3 Months Ended
	Jan. 28, 2024 USD ($)
Modifications
Amortized cost of modified loans	$ 17
Modifications (as a percent)	0.03%
Commitments to provide additional financing to customers whose accounts were modified	$ 0
Current
Modifications
Amortized cost of modified loans	16
Non-performing
Modifications
Amortized cost of modified loans	$ 1

SECURITIZATION OF FINANCING R_3

SECURITIZATION OF FINANCING RECEIVABLES (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Securitization of Financing Receivables
Other assets	$ 2,578	$ 2,503	$ 2,597
Total Assets	101,371	104,087	91,620
Short-term securitization borrowings	6,116	6,995	4,864
Accrued interest on borrowings - securitization transactions	10	13	6
Total liabilities related to restricted securitized assets	6,126	7,008	4,870
Securitized
Securitization of Financing Receivables
Financing receivables securitized (retail notes)	6,418	7,357	5,102
Allowance for credit losses	(18)	(22)	(13)
Other assets	140	152	97
Total Assets	$ 6,540	$ 7,487	$ 5,186

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
INVENTORIES
Raw materials and supplies	$ 4,117	$ 4,080	$ 4,975
Work-in-process	1,223	1,010	1,478
Finished goods and parts	6,146	5,435	6,347
Total FIFO value	11,486	10,525	12,800
Excess of FIFO over LIFO	2,549	2,365	2,744
Inventories	$ 8,937	$ 8,160	$ 10,056

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - NET - Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	$ 3,900	$ 3,687
Translation adjustments	66	204
Goodwill - net, ending balance	3,966	3,891
Production & Precision Ag (PPA)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	702	646
Translation adjustments	4	15
Goodwill - net, ending balance	706	661
Small Ag & Turf (SAT)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	363	318
Translation adjustments	2	7
Goodwill - net, ending balance	365	325
Construction & Forestry (CF)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	2,835	2,723
Translation adjustments	60	182
Goodwill - net, ending balance	$ 2,895	$ 2,905

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - NET - Intangible Assets (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Amortized intangible assets:
Total at cost	$ 1,921	$ 1,888	$ 1,909
Total accumulated amortization	809	755	654
Other intangible assets - net	1,112	1,133	1,255
Customer Lists and Relationships
Amortized intangible assets:
Total at cost	509	501	522
Total accumulated amortization	207	195	184
Technology, Patents, Trademarks and Other
Amortized intangible assets:
Total at cost	1,412	1,387	1,387
Total accumulated amortization	$ 602	$ 560	$ 470

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - NET - Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Amortized Intangible Assets:
Amortization expense of other intangible assets	$ 42	$ 39
Amortization expense of other intangible assets - remainder of 2024	131
Amortization expense of other intangible assets - 2025	144
Amortization expense of other intangible assets - 2026	121
Amortization expense of other intangible assets - 2027	119
Amortization expense of other intangible assets - 2028	87
Amortization expense of other intangible assets - 2029	$ 74

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Short-term borrowings
Short-term borrowings	$ 17,117	$ 17,939	$ 14,129
Commercial Paper
Short-term borrowings
Short-term borrowings	8,378	9,100	6,425
Notes Payable to Banks
Short-term borrowings
Short-term borrowings	310	483	303
Finance Lease Obligations Due Within One Year
Short-term borrowings
Short-term borrowings	27	25	23
Long-term Borrowings Due Within One Year
Short-term borrowings
Short-term borrowings	$ 8,402	$ 8,331	$ 7,378

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023	Oct. 30, 2022
Accounts payable:
Dividends payable	$ 413	$ 388	$ 358
Operating lease liabilities	$ 293	$ 281	$ 305
Location of operating lease, liability	Accounts payable and accrued expenses	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Deposits withheld from dealers and merchants	$ 153	$ 163	$ 153
Other	183	153	156
Accrued expenses:
Employee benefits	1,107	2,152	1,015
Product warranties	1,589	1,610	1,444	$ 1,427
Accrued taxes	1,364	1,558	1,336
Derivative liabilities	744	1,130	891
Dealer sales discounts	243	1,243	256
Extended warranty premium	1,047	1,021	901
Unearned revenue (contractual liability)	700	676	601
Unearned operating lease revenue	456	451	406
Accrued interest	502	434	371
Other	1,377	1,397	1,289
Accounts payable and accrued expenses	13,361	16,130	13,108
Eliminations | Trade Accounts and Notes Receivable
Accrued expenses:
Dealer sales incentive accruals with a right of set-off against trade receivables	2,410	2,228	1,540
Nonrelated Party
Accounts payable:
Trade payables	3,184	3,467	3,616
Related Party
Accounts payable:
Trade payables	$ 6	$ 6	$ 10

LONG-TERM BORROWINGS (Details)

LONG-TERM BORROWINGS (Details) € in Millions, $ in Millions	Jan. 28, 2024 USD ($)	Jan. 28, 2024 EUR (€)	Oct. 29, 2023 USD ($)	Oct. 29, 2023 EUR (€)	Jan. 29, 2023 USD ($)	Jan. 29, 2023 EUR (€)
Long-term borrowings
Less: debt issuance costs and debt discounts	$ (135)		$ (135)		$ (122)
Total long-term borrowings	39,933		38,477		35,071
2.75% Notes Due 2025
Long-term borrowings
Long-term borrowings, gross	$ 700		$ 700		$ 700
Debt instrument, stated interest rate	2.75%	2.75%	2.75%	2.75%	2.75%	2.75%
6.55% Debentures Due 2028
Long-term borrowings
Long-term borrowings, gross	$ 200		$ 200		$ 200
Debt instrument, stated interest rate	6.55%	6.55%	6.55%	6.55%	6.55%	6.55%
5.375% Notes Due 2029
Long-term borrowings
Long-term borrowings, gross	$ 500		$ 500		$ 500
Debt instrument, stated interest rate	5.375%	5.375%	5.375%	5.375%	5.375%	5.375%
3.10% Notes Due 2030
Long-term borrowings
Long-term borrowings, gross	$ 700		$ 700		$ 700
Debt instrument, stated interest rate	3.10%	3.10%	3.10%	3.10%	3.10%	3.10%
8.10% Debentures Due 2030
Long-term borrowings
Long-term borrowings, gross	$ 250		$ 250		$ 250
Debt instrument, stated interest rate	8.10%	8.10%	8.10%	8.10%	8.10%	8.10%
7.125% Notes Due 2031
Long-term borrowings
Long-term borrowings, gross	$ 300		$ 300		$ 300
Debt instrument, stated interest rate	7.125%	7.125%	7.125%	7.125%	7.125%	7.125%
3.90% Notes Due 2042
Long-term borrowings
Long-term borrowings, gross	$ 1,250		$ 1,250		$ 1,250
Debt instrument, stated interest rate	3.90%	3.90%	3.90%	3.90%	3.90%	3.90%
2.875% Notes Due 2049
Long-term borrowings
Long-term borrowings, gross	$ 500		$ 500		$ 500
Debt instrument, stated interest rate	2.875%	2.875%	2.875%	2.875%	2.875%	2.875%
3.75% Notes Due 2050
Long-term borrowings
Long-term borrowings, gross	$ 850		$ 850		$ 850
Debt instrument, stated interest rate	3.75%	3.75%	3.75%	3.75%	3.75%	3.75%
1.375% Notes Due 2024
Long-term borrowings
Long-term borrowings, gross					$ 871
Debt instrument, stated interest rate					1.375%	1.375%
Principal amount | €						€ 800
1.85% Notes Due 2028
Long-term borrowings
Long-term borrowings, gross	$ 651		$ 634		$ 653
Debt instrument, stated interest rate	1.85%	1.85%	1.85%	1.85%	1.85%	1.85%
Principal amount | €		€ 600		€ 600		€ 600
2.20% Notes Due 2032
Long-term borrowings
Long-term borrowings, gross	$ 651		$ 634		$ 653
Debt instrument, stated interest rate	2.20%	2.20%	2.20%	2.20%	2.20%	2.20%
Principal amount | €		€ 600		€ 600		€ 600
1.65% Notes Due 2039
Long-term borrowings
Long-term borrowings, gross	$ 705		$ 687		$ 708
Debt instrument, stated interest rate	1.65%	1.65%	1.65%	1.65%	1.65%	1.65%
Principal amount | €		€ 650		€ 650		€ 650
Medium-term Notes
Long-term borrowings
Long-term borrowings, gross	$ 31,001		$ 29,638		$ 25,618
Principal amount	31,808		30,902		26,367
Other Notes and Finance Lease Obligations
Long-term borrowings
Long-term borrowings, gross	$ 1,810		$ 1,769		$ 1,440

LEASES - LESSOR - Lease Revenue

LEASES - LESSOR - Lease Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
LEASES - LESSOR
Sales-type and direct finance lease revenues	$ 47	$ 41
Operating lease revenues	339	321
Variable lease revenues	4	6
Total lease revenues	$ 390	$ 368

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Warranty (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Warranty Liability Reconciliation
Beginning of period balance	$ 1,610	$ 1,427
Warranty claims paid	(309)	(262)
New product warranty accruals	281	256
Foreign exchange	7	23
End of period balance	$ 1,589	$ 1,444

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Other (Details) $ in Millions	3 Months Ended
	Jan. 28, 2024 USD ($)
Long Term Purchase Commitments
Commitments for the construction and acquisition of property and equipment	$ 597
Restricted Assets and Other Contingent Liabilities
Other restricted assets	214
Miscellaneous contingent liabilities and guarantees	115
Guarantees, Third-party Receivables
Guarantee Obligations
Guarantee obligations maximum exposure	$ 166

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Instruments (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Fair Values of Financial Instruments
Short-term securitization borrowings	$ 6,116	$ 6,995	$ 4,864
Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	43,708	43,673	36,882
Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 6,400	$ 7,335	$ 5,089
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings	Short-term securitization borrowings
Level 2
Fair Values of Financial Instruments
Short-term securitization borrowings	$ 6,104	$ 6,921	$ 4,785
Long-term borrowings due within one year	8,283	8,156	7,220
Long-term borrowings	39,321	36,873	34,149
Level 3 | Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	43,236	42,777	35,894
Level 3 | Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 6,225	$ 7,056	$ 4,869
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings	Short-term securitization borrowings
Carrying Value
Fair Values of Financial Instruments
Short-term securitization borrowings	$ 6,116	$ 6,995	$ 4,864
Long-term borrowings due within one year	8,402	8,331	7,378
Long-term borrowings	39,878	38,428	35,035
Carrying Value | Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	43,708	43,673	36,882
Carrying Value | Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 6,400	$ 7,335	$ 5,089
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings	Short-term securitization borrowings

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liaibilities - Recurring (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	$ 1,136	$ 946	$ 852
Derivative assets	253	292	360
Derivative liabilities	744	1,130	891
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	475	300	270
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	5	3	2
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 1 | International Mutual Funds Securities
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	57	101
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 1 | U.S. Equity Funds
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	105	86	86
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 1 | U.S. Fixed Income Fund
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	34	32	118
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	274	78	64
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	661	646	582
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	253	292	360
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	744	1,130	891
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	220	244	209
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	87	1	18
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	161	185	157
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	69	75	71
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	124	141	127
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	$ 176	$ 186	$ 225

FAIR VALUE MEASUREMENTS - Contr

FAIR VALUE MEASUREMENTS - Contractual Maturities of Debt Securities (Details) $ in Millions	Jan. 28, 2024 USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost, due in one year or less	$ 22
Amortized cost, due after one through five years	242
Amortized cost, due after five through 10 years	421
Amortized cost, due after 10 years	192
Amortized cost, mortgage-backed securities	189
Amortized cost, debt securities	1,066
Contractual Maturities of Debt Securities, Fair Value
Fair value, due in one year or less	21
Fair value, due after one through five years	194
Fair value, due after five through 10 years	398
Fair value, due after 10 years	161
Fair value, mortgage-backed securities	161
Fair value, debt securities	$ 935

DERIVATIVE INSTRUMENTS - Fair V

DERIVATIVE INSTRUMENTS - Fair Values (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Fair Values of Derivative Instruments
Derivative assets	$ 253	$ 292	$ 360
Derivative liabilities	744	1,130	891
Designated as Hedging Instruments | Cash Flow Hedges Member | Interest Rate Contracts (Swaps)
Fair Values of Derivative Instruments
Notional	2,200	1,500	1,950
Designated as Hedging Instruments | Cash Flow Hedges Member | Interest Rate Contracts (Swaps) | Other Assets Member
Fair Values of Derivative Instruments
Derivative assets	27	45	69
Designated as Hedging Instruments | Cash Flow Hedges Member | Interest Rate Contracts (Swaps) | Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	4
Designated as Hedging Instruments | Fair Value Hedges Member | Interest Rate Contracts (Swaps)
Fair Values of Derivative Instruments
Notional	12,633	12,691	10,802
Designated as Hedging Instruments | Fair Value Hedges Member | Interest Rate Contracts (Swaps) | Other Assets Member
Fair Values of Derivative Instruments
Derivative assets	58		21
Designated as Hedging Instruments | Fair Value Hedges Member | Interest Rate Contracts (Swaps) | Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	592	970	678
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps)
Fair Values of Derivative Instruments
Notional	14,200	13,853	11,147
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Other Assets Member
Fair Values of Derivative Instruments
Derivative assets	129	169	188
Not Designated as Hedging Instruments | Interest Rate Contracts (Swaps) | Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	82	98	97
Not Designated as Hedging Instruments | Foreign Exchange Contracts
Fair Values of Derivative Instruments
Notional	7,856	8,117	9,304
Not Designated as Hedging Instruments | Foreign Exchange Contracts | Other Assets Member
Fair Values of Derivative Instruments
Derivative assets	39	75	71
Not Designated as Hedging Instruments | Foreign Exchange Contracts | Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	53	54	110
Not Designated as Hedging Instruments | Cross-Currency Interest Rate Contracts
Fair Values of Derivative Instruments
Notional	189	176	234
Not Designated as Hedging Instruments | Cross-Currency Interest Rate Contracts | Other Assets Member
Fair Values of Derivative Instruments
Derivative assets		3	11
Not Designated as Hedging Instruments | Cross-Currency Interest Rate Contracts | Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	$ 13	$ 8	$ 6

DERIVATIVE INSTRUMENTS - Fair_2

DERIVATIVE INSTRUMENTS - Fair Value Hedges (Details) - Fair Value Hedges Member - Interest Rate Contracts (Swaps) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Active Hedging Relationships
Carrying Amount of Hedged Item		$ 11,660	$ 10,088
Location of hedged item		Long-term borrowings	Long-term borrowings
Short-term Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item	$ 288
Cumulative Fair Value Hedging Amount	(9)
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	1,960	$ 1,814	$ 1,915
Cumulative Fair Value Hedging Amount - Discontinued	10	15	15
Long-term Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item	11,745
Cumulative Fair Value Hedging Amount	(537)	(976)	(666)
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	7,711	7,144	5,506
Cumulative Fair Value Hedging Amount - Discontinued	$ (270)	$ (288)	$ (83)

DERIVATIVE INSTRUMENTS - Gains

DERIVATIVE INSTRUMENTS - Gains (Losses) on Statements of Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ (215)	$ (151)
Interest Rate Contracts (Swaps)
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	(8)	(1)
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)		(7)
Interest Rate Contracts (Swaps) | Interest Expense Member
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	344	239
Cash flow hedges, reclassified from OCI	11	15
Not designated as hedges, gains (losses)	(9)	(8)
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)	5	1
Foreign Exchange Contracts | Cost of Sales
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	(30)	5
Foreign Exchange Contracts | Other Operating Expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ (181)	$ (142)

DERIVATIVE INSTRUMENTS - Counte

DERIVATIVE INSTRUMENTS - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Derivative instruments
Fair value of derivatives with credit-risk-related contingent features in a liability position	$ 691	$ 1,076	$ 781
Cash collateral posted	368	659	349
Derivative Assets
Gross amounts recognized	253	292	360
Netting arrangements	(112)	(152)	(162)
Collateral received	(19)		(47)
Net amount	122	140	151
Derivative Liabilities
Gross amounts recognized	744	1,130	891
Netting arrangements	(112)	(152)	(162)
Collateral paid	(368)	(659)	(349)
Net amount	264	319	380
International Futures Market
Derivative instruments
Collateral paid to participate in an international futures market	$ 8	$ 8	$ 8

SHARE-BASED AWARDS - Stock Opti

SHARE-BASED AWARDS - Stock Options (Details) - $ / shares shares in Thousands	1 Months Ended	3 Months Ended
	Dec. 24, 2023	Jan. 28, 2024
Share-based Awards, Aggregate Disclosures
Number of additional shares authorized for grant related to stock options and restricted stock units		15,000
Employee Stock Option [Member]
Share-based Awards, Aggregate Disclosures
Options granted (in shares)	216
Options granted, exercise price (in dollars per share)	$ 377.01
Options granted, fair value (in dollars per share)	$ 98.04
Options outstanding (in shares)		1,900
Options outstanding, weighted-average exercise price (in dollars per share)		$ 214.88
Fair value assumptions method used	lattice model

SHARE-BASED AWARDS - Restricted

SHARE-BASED AWARDS - Restricted Stock Units Granted and Weighted-Average Grant Date Fair Values (Details) shares in Thousands	3 Months Ended
	Jan. 28, 2024 $ / shares shares
Restricted Stock Units Service Based [Member]
Share-based Awards, Aggregate Disclosures
Restricted stock units granted (in shares) | shares	360
Restricted stock units granted, weighted-average fair value (in dollars per unit) | $ / shares	$ 377.04
Restricted Stock Units Performance Service Based [Member]
Share-based Awards, Aggregate Disclosures
Restricted stock units granted (in shares) | shares	52
Restricted stock units granted, weighted-average fair value (in dollars per unit) | $ / shares	$ 360.53
Restricted Stock Units Market Service Based [Member]
Share-based Awards, Aggregate Disclosures
Restricted stock units granted (in shares) | shares	52
Restricted stock units granted, weighted-average fair value (in dollars per unit) | $ / shares	$ 370.87
Vesting period under share-based incentive plans	3 years
Fair value assumptions method used	Monte Carlo model
Restricted Stock Units Market Service Based [Member] | Minimum
Share-based Awards, Aggregate Disclosures
Percent of common stock that may be awarded based on metric	0%
Restricted Stock Units Market Service Based [Member] | Maximum
Share-based Awards, Aggregate Disclosures
Percent of common stock that may be awarded based on metric	200%

SPECIAL ITEMS (Details)

SPECIAL ITEMS (Details) - Sale of Financial Services Business in Russia - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Financial Services (FS) $ in Millions	1 Months Ended
	Mar. 26, 2023 USD ($)
Disposition
Total proceeds, net of restricted cash sold	$ 36
Total assets	31
Total liabilities	5
Cumulative translation loss	$ 10

SUBSEQUENT EVENTS - Securitizat

SUBSEQUENT EVENTS - Securitization Borrowings (Details) - USD ($) $ in Millions	Feb. 25, 2024	Jan. 28, 2024	Oct. 29, 2023	Jan. 29, 2023
Subsequent Events
Securitization borrowings		$ 6,116	$ 6,995	$ 4,864
Subsequent Events | Short-term Securitization Borrowings
Subsequent Events
Securitization borrowings	$ 529

SUBSEQUENT EVENTS - Quarterly D

SUBSEQUENT EVENTS - Quarterly Dividend (Details) - $ / shares		3 Months Ended
	Feb. 28, 2024	Jan. 28, 2024	Jan. 29, 2023
Subsequent Events
Quarterly dividend declared (in dollars per share)		$ 1.47	$ 1.20
Subsequent Events
Subsequent Events
Quarterly dividend declared (in dollars per share)	$ 1.47

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Jan. 28, 2024	Jan. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,751	$ 1,959

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jan. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false