Document and Entity Information	3 Months Ended
Document and Entity Information	Jan. 26, 2025 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jan. 26, 2025
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	271,413,927
Current Fiscal Year End Date	--11-02
Document Fiscal Year Focus	2025
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 INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Net Sales and Revenues
Net sales and revenues	$ 8,508	$ 12,185
Costs and Expenses
Research and development expenses	526	533
Selling, administrative and general expenses	972	1,066
Interest expense	829	802
Other operating expenses	249	369
Total	7,613	9,970
Income of Consolidated Group before Income Taxes	895	2,215
Provision for income taxes	27	469
Income of Consolidated Group	868	1,746
Equity in income (loss) of unconsolidated affiliates	(1)	2
Net Income	867	1,748
Less: Net loss attributable to noncontrolling interests	(2)	(3)
Net Income Attributable to Deere & Company	$ 869	$ 1,751
Per Share Data
Basic (in dollars per share)	$ 3.2	$ 6.25
Diluted (in dollars per share)	3.19	6.23
Dividends declared (in dollars per share)	1.62	1.47
Dividends paid (in dollars per share)	$ 1.47	$ 1.35
Average Shares Outstanding
Basic (in shares)	271.6	279.9
Diluted (in shares)	272.3	281.1
Net Sales
Net Sales and Revenues
Net sales and revenues	$ 6,809	$ 10,486
Cost of Sales
Cost of sales	5,037	7,200
Finance and Interest Income
Net Sales and Revenues
Net sales and revenues	1,453	1,360
Other Income
Net Sales and Revenues
Net sales and revenues	$ 246	$ 339

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME
Net Income	$ 867	$ 1,748
Other Comprehensive Income (Loss), Net of Income Taxes
Retirement benefits adjustment	3	(21)
Cumulative translation adjustment	(451)	274
Unrealized loss on derivatives	(1)	(15)
Unrealized gain (loss) on debt securities	(15)	13
Other Comprehensive Income (Loss), Net of Income Taxes	(464)	251
Comprehensive Income of Consolidated Group	403	1,999
Less: Comprehensive loss attributable to noncontrolling interests	(5)	(2)
Comprehensive Income Attributable to Deere & Company	$ 408	$ 2,001

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
ASSETS
Cash and cash equivalents	$ 6,601	$ 7,324	$ 5,137
Marketable securities	1,214	1,154	1,136
Trade accounts and notes receivable - net	4,931	5,326	7,795
Other receivables	2,979	2,545	2,017
Equipment on operating leases - net	7,157	7,451	6,751
Inventories	7,744	7,093	8,937
Property and equipment - net	7,425	7,580	6,914
Goodwill	3,872	3,959	3,966
Other intangible assets - net	937	999	1,112
Retirement benefits	3,018	2,921	3,087
Deferred income taxes	1,852	2,086	1,833
Other assets	2,807	2,906	2,578
Assets held for sale	2,929	2,944
Total Assets	103,119	107,320	101,371
LIABILITIES
Short-term borrowings	12,811	13,533	17,117
Short-term securitization borrowings	8,014	8,431	6,116
Accounts payable and accrued expenses	12,162	14,543	13,361
Deferred income taxes	448	478	550
Long-term borrowings	43,556	43,229	39,933
Retirement benefits and other liabilities	1,734	2,354	2,115
Liabilities held for sale	1,830	1,827
Total liabilities	80,555	84,395	79,192
Commitments and contingencies (Note 16)
Redeemable noncontrolling interest	78	82	100
STOCKHOLDERS' EQUITY
Common stock, $1 par value (issued shares at January 26, 2025 - 536,431,204)	5,526	5,489	5,335
Common stock in treasury	(35,709)	(35,349)	(32,663)
Retained earnings	56,829	56,402	52,266
Accumulated other comprehensive income (loss)	(4,167)	(3,706)	(2,863)
Total Deere & Company stockholders' equity	22,479	22,836	22,075
Noncontrolling interests	7	7	4
Total stockholders' equity	22,486	22,843	22,079
Total Liabilities and Stockholders' Equity	103,119	107,320	101,371
Unrestricted
ASSETS
Financing receivables - net	41,396	44,309	43,708
Securitized
ASSETS
Financing receivables - net	$ 8,257	$ 8,723	$ 6,400
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings	Short-term securitization borrowings
Other assets	$ 182	$ 187	$ 140
Total Assets	$ 8,439	$ 8,910	$ 6,540

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)	Jan. 26, 2025 $ / 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 FLOWS - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Cash Flows from Operating Activities
Net income	$ 867	$ 1,748
Adjustments to reconcile net income to net cash used for operating activities:
Provision for credit losses	69	31
Provision for depreciation and amortization	549	520
Impairments and other adjustments	(32)
Share-based compensation expense	28	46
Provision for deferred income taxes	208	27
Changes in assets and liabilities:
Receivables related to sales	1,063	(277)
Inventories	(795)	(723)
Accounts payable and accrued expenses	(1,845)	(2,327)
Accrued income taxes payable/receivable	(540)	183
Retirement benefits	(688)	(129)
Other	(16)	(7)
Net cash used for operating activities	(1,132)	(908)
Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales)	8,137	7,752
Proceeds from maturities and sales of marketable securities	61	184
Proceeds from sales of equipment on operating leases	433	506
Cost of receivables acquired (excluding receivables related to sales)	(6,045)	(6,447)
Purchases of marketable securities	(141)	(229)
Purchases of property and equipment	(352)	(362)
Cost of equipment on operating leases acquired	(439)	(454)
Collateral on derivatives - net	(191)	310
Other	(47)	(43)
Net cash provided by investing activities	1,416	1,217
Cash Flows from Financing Activities
Net payments in short-term borrowings (original maturities three months or less)	(1,484)	(2,951)
Proceeds from borrowings issued (original maturities greater than three months)	3,168	5,287
Payments of borrowings (original maturities greater than three months)	(1,753)	(3,237)
Repurchases of common stock	(441)	(1,328)
Dividends paid	(403)	(386)
Other	(10)	(30)
Net cash used for financing activities	(923)	(2,645)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	(87)	16
Net Decrease in Cash, Cash Equivalents, and Restricted Cash	(726)	(2,320)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	7,633	7,620
Cash, Cash Equivalents, and Restricted Cash at End of Period	6,907	5,300
Components of Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents	6,601	5,137
Cash, cash equivalents, and restricted cash (Assets held for sale)	116
Restricted cash (Other assets)	$ 190	$ 163
Balance sheet location of restricted cash	Other assets	Other assets
Total Cash, Cash Equivalents, and Restricted Cash	$ 6,907	$ 5,300

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. 29, 2023	$ 5,303	$ (31,335)	$ 50,931	$ (3,114)	$ 4	$ 21,789
Increase (Decrease) in Stockholders' Equity
Net income			1,751		1	1,752
Other comprehensive income (loss)				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	(32,663)	52,266	(2,863)	4	22,079
Redeemable Noncontrolling Interest - Balance at Oct. 29, 2023						97
Increase (Decrease) in Redeemable Noncontrolling Interest
Net loss						(4)
Other comprehensive income (loss)						1
Other						6
Redeemable Noncontrolling Interest - Balance at Jan. 28, 2024						100
Balance at Oct. 27, 2024	5,489	(35,349)	56,402	(3,706)	7	22,843
Increase (Decrease) in Stockholders' Equity
Net income			869			869
Other comprehensive income (loss)				(461)		(461)
Repurchases of common stock		(384)				(384)
Treasury shares reissued		24				24
Dividends declared			(441)			(441)
Share based awards and other	37		(1)			36
Balance at Jan. 26, 2025	$ 5,526	$ (35,709)	$ 56,829	$ (4,167)	$ 7	22,486
Redeemable Noncontrolling Interest - Balance at Oct. 27, 2024						82
Increase (Decrease) in Redeemable Noncontrolling Interest
Net loss						(2)
Other comprehensive income (loss)						(3)
Other						1
Redeemable Noncontrolling Interest - Balance at Jan. 26, 2025						$ 78

ORGANIZATION AND CONSOLIDATION

3 Months Ended

Jan. 26, 2025

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 (John Deere Financial or 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 2025 and 2024 were January 26, 2025 and January 28, 2024, respectively. Both periods contained 13 weeks. Fiscal year 2025 will contain 53 weeks, with the additional week occurring in the fourth quarter. 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. Certain prior period amounts have been reclassified to conform to current period presentation.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING PRONOUNCEMENTS

3 Months Ended

Jan. 26, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING PRONOUNCEMENTS

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING PRONOUNCEMENTS

(2) Summary of Significant Accounting Policies and New Accounting Pronouncements

Quarterly Financial Statements

The interim consolidated financial statements of Deere & Company have been prepared by us, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted as permitted by such rules and regulations. All normal recurring adjustments have been included. Management believes the disclosures are adequate to present fairly the financial position, results of operations, and cash flows at the dates and for the periods presented. It is suggested these interim consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto appearing in our latest Annual Report on Form 10-K. Results for interim periods are not necessarily indicative of those to be expected for the fiscal year.

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 Pronouncements Adopted

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 2025, none of which had a material effect on our consolidated financial statements.


No. 2023-05 — Business Combinations – Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement
No. 2022-03 — Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions

Accounting Pronouncements to be Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which expands disclosures about specific expense categories presented on the face of the income statement. In January 2025, the FASB issued ASU 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40), which clarifies the effective date of ASU 2024-03. The ASU will be effective for us beginning with our annual reporting for fiscal year 2028 and interim periods thereafter. We are assessing the effect of ASU 2024-03 on our related disclosures.

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 ASU will be effective for us beginning with our annual reporting for 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.


No. 2024-04 — Debt – Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments
No. 2023-07 — Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
No. 2023-06 — Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative

REVENUE RECOGNITION

3 Months Ended

Jan. 26, 2025

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 26, 2025
	PPA		SAT		CF		FS		Total
Primary geographic markets:
United States	$	1,555	$	949	$	1,113	$	1,085	$	4,702
Canada		354		79		101		187		721
Western Europe		277		352		344		43		1,016
Central Europe and CIS		67		39		71		4		181
Latin America		715		80		205		96		1,096
Asia, Africa, Oceania, and Middle East		205		308		224		55		792
Total	$	3,173	$	1,807	$	2,058	$	1,470	$	8,508

Major product lines:
Production agriculture	$	3,002							$	3,002
Small agriculture			$	1,234						1,234
Turf				463						463
Construction					$	770				770
Compact construction						361				361
Roadbuilding						596				596
Forestry						226				226
Financial products		55		33		21	$	1,470		1,579
Other		116		77		84				277
Total	$	3,173	$	1,807	$	2,058	$	1,470	$	8,508

Revenue recognized:
At a point in time	$	3,086	$	1,760	$	2,028	$	29	$	6,903
Over time		87		47		30		1,441		1,605
Total	$	3,173	$	1,807	$	2,058	$	1,470	$	8,508


	Three Months Ended January 28, 2024
	PPA		SAT		CF		FS		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

We invoice in advance of recognizing the revenue of certain products and 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 $2,027, $1,923, and $1,747 at January 26, 2025, October 27, 2024, and January 28, 2024, respectively. The contract liability is reduced as the revenue is recognized. Revenue recognized from deferred revenue that was recorded as a contract liability at the beginning of the fiscal year was $197 and $230 during the three months ended January 26, 2025 and January 28, 2024, respectively.

The amount of unsatisfied performance obligations for contracts with an original duration greater than one year was $1,734 at January 26, 2025. The estimated revenue to be recognized by fiscal year follows: remainder of 2025 – $395, 2026 – $444, 2027 – $352, 2028 – $235, 2029 – $144, 2030 – $102, and later years – $62. As permitted, we elected only to disclose remaining performance obligations with an original contract duration greater than one year. The contracts with an expected duration of one year or less are for sales to dealers and retail customers for equipment, service parts, repair services, and certain telematics services.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

OTHER COMPREHENSIVE INCOME ITEMS

3 Months Ended

Jan. 26, 2025

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 26		October 27		January 28
	2025		2024		2024
Retirement benefits adjustment	$	(1,271)	$	(1,274)	$	(866)
Cumulative translation adjustment		(2,734)		(2,286)		(1,877)
Unrealized loss on derivatives		(73)		(72)		(23)
Unrealized loss on debt securities		(89)		(74)		(97)
Accumulated other comprehensive income (loss)	$	(4,167)	$	(3,706)	$	(2,863)

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 26, 2025	Amount		Credit		Amount
Cumulative translation adjustment	$	(449)	$	1	$	(448)
Unrealized gain (loss) on interest rate derivatives:
Unrealized hedging gain (loss)		7		(2)		5
Reclassification of realized (gain) loss to Interest expense		(8)		2		(6)
Net unrealized gain (loss) on derivatives		(1)				(1)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(19)		4		(15)
Net unrealized gain (loss) on debt securities		(19)		4		(15)
Retirement benefits adjustment:
Net actuarial gain (loss)		6		(1)		5
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		(11)		3		(8)
Prior service (credit) cost		9		(3)		6
Net unrealized gain (loss) on retirement benefits adjustment		4		(1)		3
Total other comprehensive income (loss)	$	(465)	$	4	$	(461)


	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 interest rate derivatives:
Unrealized hedging gain (loss)		(8)		2		(6)
Reclassification of realized (gain) loss to 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 to 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

EARNINGS PER SHARE

3 Months Ended

Jan. 26, 2025

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 26		January 28
	2025		2024
Net income attributable to Deere & Company	$	869	$	1,751
Average shares outstanding		271.6		279.9
Basic per share	$	3.20	$	6.25

Average shares outstanding		271.6		279.9
Effect of dilutive stock options and unvested restricted stock units		.7		1.2
Total potential shares outstanding		272.3		281.1
Diluted per share	$	3.19	$	6.23

Shares excluded from EPS calculation, as antidilutive		.3		.2

PENSION AND OTHER POSTRETIREMENT BENEFITS

3 Months Ended

Jan. 26, 2025

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 26		January 28
	2025		2024
Pensions:
Service cost	$	65	$	58
Interest cost		128		136
Expected return on plan assets		(254)		(241)
Amortization of actuarial gain		(1)		(4)
Amortization of prior service cost		10		10
Net benefit	$	(52)	$	(41)

OPEB:
Service cost	$	5	$	5
Interest cost		40		43
Expected return on plan assets		(28)		(27)
Amortization of actuarial gain		(10)		(16)
Amortization of prior service credit		(1)		(1)
Net cost	$	6	$	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 2025, we contributed and expect to contribute the following amounts to our pension and OPEB plans:


	Pensions		OPEB
Contributed	$	28	$	622
Expected contributions remainder of the year		72		38

In the first quarter of 2025, a committee of our Board of Directors approved and a $520 voluntary contribution was made to a U.S. OPEB plan. This contribution increased plan assets.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

SEGMENT DATA

3 Months Ended

Jan. 26, 2025

SEGMENT DATA

SEGMENT DATA

(7) Segment Data

Information relating to operations by operating segment follows:


	Three Months Ended
	January 26		January 28		%
	2025		2024		Change
Net sales and revenues
PPA net sales	$	3,067	$	4,849	-37
SAT net sales		1,748		2,425	-28
CF net sales		1,994		3,212	-38
FS revenues		1,470		1,376	+7
Other revenues		229		323	-29
Total net sales and revenues	$	8,508	$	12,185	-30
Operating profit
PPA	$	338	$	1,045	-68
SAT		124		326	-62
CF		65		566	-89
FS		266		257	+4
Total operating profit		793		2,194	-64
Reconciling items		103		26	+296
Income taxes		(27)		(469)	-94
Net income attributable to Deere & Company	$	869	$	1,751	-50

Intersegment sales and revenues:
PPA net sales			$	8
SAT net sales				1
CF net sales
FS revenues	$	103		176

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, and net income attributable to noncontrolling interests.


Identifiable operating assets were as follows:
	January 26		October 27		January 28
	2025		2024		2024
PPA	$	8,773	$	8,696	$	9,059
SAT		4,179		4,130		4,426
CF		7,237		7,137		7,371
FS		69,686		73,612		69,900
Corporate		13,244		13,745		10,615
Total assets	$	103,119	$	107,320	$	101,371

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

FINANCING RECEIVABLES

3 Months Ended

Jan. 26, 2025

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.

The credit quality and aging analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows:


	January 26, 2025
	2025		2024		2023		2022		2021		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	2,421	$	12,687	$	7,437	$	4,560	$	2,387	$	903	$	3,027	$	33,422
30-59 days past due		8		113		94		51		27		12		128		433
60-89 days past due		1		44		38		21		10		5		24		143
90+ days past due				2		1				4						7
Non-performing				44		120		81		49		33		15		342
Construction and forestry
Current		883		2,834		1,614		880		349		73		99		6,732
30-59 days past due		7		72		45		29		11		3		5		172
60-89 days past due				30		21		11		4		1		3		70
90+ days past due				4		2		3				1				10
Non-performing				66		100		56		33		15		1		271
Total retail customer receivables	$	3,320	$	15,896	$	9,472	$	5,692	$	2,874	$	1,046	$	3,302	$	41,602

Write-offs for the three months ended January 26, 2025:
Agriculture and turf			$	5	$	9	$	6	$	2	$	3	$	10	$	35
Construction and forestry				9		8		4		1		1		3		26
Total			$	14	$	17	$	10	$	3	$	4	$	13	$	61


	October 27, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	14,394	$	8,305	$	5,191	$	2,833	$	992	$	253	$	4,465	$	36,433
30-59 days past due		44		101		55		27		11		4		40		282
60-89 days past due		22		50		21		10		8		2		13		126
90+ days past due		1		1		1		2								5
Non-performing		23		91		76		50		20		13		15		288
Construction and forestry
Current		3,100		1,841		1,064		458		102		45		114		6,724
30-59 days past due		54		47		25		10		3		2		4		145
60-89 days past due		25		28		10		7		2				2		74
90+ days past due		1		4		3		1								9
Non-performing		40		94		67		32		9		5		1		248
Total retail customer receivables	$	17,704	$	10,562	$	6,513	$	3,430	$	1,147	$	324	$	4,654	$	44,334

Write-offs for the twelve months ended October 27, 2024:
Agriculture and turf	$	5	$	33	$	25	$	11	$	11	$	5	$	87	$	177
Construction and forestry		9		38		30		11		5		3		8		104
Total	$	14	$	71	$	55	$	22	$	16	$	8	$	95	$	281


	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

Write-offs for the three months ended January 28, 2024:
Agriculture and turf			$	2	$	4	$	3	$	4	$	1	$	9	$	23
Construction and forestry				6		7		2		1		1		2		19
Total			$	8	$	11	$	5	$	5	$	2	$	11	$	42

The credit quality and aging analysis of wholesale receivables was as follows:


	January 26		October 27		January 28
	2025		2024		2024
Wholesale receivables:
Agriculture and turf
Current	$	7,098	$	7,568	$	6,564
30+ days past due						1
Non-performing		1		1		1
Construction and forestry
Current		1,200		1,358		907
30+ days past due
Non-performing
Total wholesale receivables	$	8,299	$	8,927	$	7,473

An analysis of the allowance for credit losses and investment in financing receivables follows:


	Three Months Ended January 26, 2025
	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total
Allowance:
Beginning of period balance	$	219	$	8	$	2	$	229
Provision		68		2				70
Write-offs		(48)		(13)				(61)
Recoveries		2		9				11
Translation adjustments		(1)						(1)
End of period balance	$	240	$	6	$	2	$	248

Financing receivables:
End of period balance	$	38,300	$	3,302	$	8,299	$	49,901


	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

The allowance for credit losses on retail notes and financing lease receivables increased in the first quarter of 2025, primarily due to higher expected losses as a result of elevated delinquencies and market conditions.

During the third quarter of 2024, we determined that the financial services business in Brazil met the held for sale criteria. The receivables in Brazil were reclassified to “Assets held for sale.” The associated allowance for credit losses was reversed and a valuation allowance for the “Assets held for sale” was recorded (see Note 20).

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 with the exception of modifications related to bankruptcy proceedings. 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 financing receivables modified with borrowers experiencing financial difficulty during the first quarter ended January 26, 2025 and January 28, 2024 were $28 and $17, respectively. These modifications represented 0.06% and 0.03% of our financing receivable portfolio for the same periods, respectively.

The financial effects of payment deferrals with borrowers experiencing financial difficulty resulted in a weighted average payment deferral of 8 months to the modified contracts. Term extensions provided to borrowers experiencing financial difficulty added a weighted average of 12 months to the modified contracts. Additionally, modifications with a combination of both payment deferrals and term extensions resulted in a weighted average payment deferral of 4 months and a weighted average term extension of 6 months.

We continue to monitor the performance of financing receivables that are modified with borrowers experiencing financial difficulty. The ending amortized cost and performance of financing receivables modified during the prior twelve months ended January 26, 2025 and January 28, 2024 were as follows:


	January 26		January 28
	2025		2024*
Current	$	74	$	16
30-59 days past due		7
60-89 days past due		4
90+ days past due		3
Non-performing		13		1
Total	$	101	$	17

* In accordance with the adoption date of the accounting modification guidance, this period includes receivables modified during the prior three months.

Defaults and subsequent write-offs of financing receivables modified in the prior twelve months were not significant during the three months ended January 26, 2025 and January 28, 2024. In addition, at January 26, 2025, commitments to provide additional financing to these customers were not significant.

SECURITIZATION OF FINANCING RECEIVABLES

3 Months Ended

Jan. 26, 2025

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.

We transfer financing receivables into a bankruptcy-remote special purpose entity (SPE).

2.

The SPE issues debt to investors. The debt is secured by the financing receivables.

3.

Investors are paid back based on cash receipts from the financing receivables.

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 26		October 27		January 28
	2025		2024		2024
Financing receivables securitized (retail notes)	$	8,307	$	8,770	$	6,418
Allowance for credit losses		(50)		(47)		(18)
Other assets (primarily restricted cash)		182		187		140
Total restricted securitized assets	$	8,439	$	8,910	$	6,540

Short-term securitization borrowings	$	8,014	$	8,431	$	6,116
Accrued interest on borrowings		11		14		10
Total liabilities related to restricted securitized assets	$	8,025	$	8,445	$	6,126

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-4

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481326/860-20-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(ii)
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-URI https://asc.fasb.org/1943274/2147481326/860-20-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481326/860-20-50-4

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
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-Paragraph 3
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(4)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481326/860-20-50-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (cc)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481326/860-20-50-3

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(5)(ii)
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)(3)
-Publisher FASB
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-7

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-4

+ Details

INVENTORIES

3 Months Ended

Jan. 26, 2025

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 valued on a LIFO basis had been valued on a “first-in, first-out” (FIFO) basis, the estimated inventories by major classification would have been as follows:


	January 26		October 27		January 28
	2025		2024		2024
Raw materials and supplies	$	3,549	$	3,486	$	4,117
Work-in-process		1,046		930		1,223
Finished goods and parts		6,055		5,364		6,146
Total FIFO value		10,650		9,780		11,486
Excess of FIFO over LIFO		2,906		2,687		2,549
Inventories	$	7,744	$	7,093	$	8,937

GOODWILL AND OTHER INTANGIBLE ASSETS - NET

3 Months Ended

Jan. 26, 2025

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.


	PPA		SAT		CF		Total
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

Goodwill at October 27, 2024	$	701	$	365	$	2,893	$	3,959
Translation adjustments		(11)		(4)		(72)		(87)
Goodwill at January 26, 2025	$	690	$	361	$	2,821	$	3,872

The components of other intangible assets were as follows:


	January 26		October 27		January 28
	2025		2024		2024
Customer lists and relationships	$	490	$	508	$	509
Technology, patents, trademarks, and other		1,392		1,423		1,412
Total at cost		1,882		1,931		1,921
Less accumulated amortization:
Customer lists and relationships		(229)		(231)		(207)
Technology, patents, trademarks, and other		(716)		(701)		(602)
Total accumulated amortization		(945)		(932)		(809)
Other intangible assets – net	$	937	$	999	$	1,112

The amortization of other intangible assets in the first quarter of 2025 and 2024 was $41 and $42, respectively. The estimated amortization expense for the next five years is as follows: remainder of 2025 – $102, 2026 – $125, 2027 – $118, 2028 – $85, 2029 – $73, and 2030 – $70.

SHORT-TERM BORROWINGS

3 Months Ended

Jan. 26, 2025

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS

(12) Short-Term Borrowings

Short-term borrowings were as follows:


	January 26		October 27		January 28
	2025		2024		2024
Commercial paper	$	2,699	$	4,008	$	8,378
Notes payable to banks		561		377		310
Finance lease obligations due within one year		34		33		27
Long-term borrowings due within one year		9,517		9,115		8,402
Short-term borrowings	$	12,811	$	13,533	$	17,117

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

3 Months Ended

Jan. 26, 2025

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 26		October 27		January 28
	2025		2024		2024
Accounts payable:
Trade payables	$	2,393	$	2,698	$	3,184
Dividends payable		443		405		413
Operating lease liabilities		274		270		293
Deposits withheld from dealers and merchants		136		152		153
Payables to unconsolidated affiliates		8		6		6
Other		207		204		183
Accrued expenses:
Employee benefits		786		1,925		1,107
Accrued taxes		1,111		1,509		1,364
Product warranties		1,360		1,426		1,589
Dealer sales discounts		246		996		243
Extended warranty premium		1,173		1,179		1,047
Derivative liabilities		750		582		744
Unearned revenue (contractual liability)		854		744		700
Unearned operating lease revenue		474		495		456
Accrued interest		487		455		502
Parts return liability		418		420		393
Other		1,042		1,077		984
Accounts payable and accrued expenses	$	12,162	$	14,543	$	13,361

Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $1,901 at January 26, 2025, $2,121 at October 27, 2024, and $2,410 at January 28, 2024. Other eliminations were made for accrued taxes and other accrued expenses.

LONG-TERM BORROWINGS

3 Months Ended

Jan. 26, 2025

LONG-TERM BORROWINGS

LONG-TERM BORROWINGS

(14) Long-Term Borrowings

Long-term borrowings consisted of:


	January 26		October 27		January 28
	2025		2024		2024
Underwritten term debt
U.S. dollar notes and debentures:
2.75% notes due 2025					$	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
5.45% notes due 2035		1,250
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
5.70% notes due 2055		750
Euro notes:
1.85% notes due 2028 (€600 principal)		625		650		651
2.20% notes due 2032 (€600 principal)		625		650		651
1.65% notes due 2039 (€650 principal)		677		704		705
Serial issuances:
Medium-term notes		34,974		36,566		31,001
Other notes and finance lease obligations		272		265		1,810
Less debt issuance costs and debt discounts		(167)		(156)		(135)
Long-term borrowings	$	43,556	$	43,229	$	39,933

Medium-term notes due through 2034 are primarily offered by prospectus and issued at fixed and variable rates. The principal balances of the medium-term notes were $35,770, $37,141, and $31,808 at January 26, 2025, October 27, 2024, and January 28, 2024, respectively. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other.

LEASES - LESSOR

3 Months Ended

Jan. 26, 2025

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 26		January 28
	2025		2024
Sales-type and direct finance lease revenues	$	47	$	47
Operating lease revenues		362		339
Variable lease revenues		4		4
Total lease revenues	$	413	$	390

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Jan. 26, 2025

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 26		January 28
	2025		2024
Beginning of period balance	$	1,426	$	1,610
Warranty claims paid		(310)		(309)
New product warranty accruals		256		281
Foreign exchange		(12)		7
End of period balance	$	1,360	$	1,589

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. As of January 26, 2025, the notional value of these guarantees was $128. We may repossess the equipment collateralizing the receivables. At January 26, 2025, the accrued losses under these guarantees were not material.

We also had other miscellaneous contingent liabilities totaling approximately $115 at January 26, 2025. The accrued liability for these contingencies was $25 at January 26, 2025.

At January 26, 2025, we had commitments of approximately $490 for the construction and acquisition of property and equipment. Also at January 26, 2025, we had restricted assets of $259, classified as “Other assets.”

We are subject to various unresolved legal actions. The accrued losses on these matters were not material at January 26, 2025. We believe the reasonably possible range of losses for these unresolved legal actions would not have a material effect on our consolidated financial statements. The most prevalent legal claims relate to product liability (including asbestos-related liability), employment, patent, trademark, and antitrust matters (including class action litigation).

FAIR VALUE MEASUREMENTS

3 Months Ended

Jan. 26, 2025

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 26, 2025				October 27, 2024				January 28, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Financing receivables – net	$	41,396	$	41,311	$	44,309	$	44,336	$	43,708	$	43,236
Financing receivables securitized – net		8,257		8,174		8,723		8,654		6,400		6,225
Short-term securitization borrowings		8,014		8,036		8,431		8,453		6,116		6,104
Long-term borrowings due within one year		9,517		9,468		9,115		9,079		8,402		8,283
Long-term borrowings		43,483		43,172		43,157		42,804		39,878		39,321

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 26		October 27		January 28
	2025		2024		2024
Level 1:
Marketable securities
International equity securities					$	5
International mutual funds securities						57
U.S. equity fund						105
U.S. fixed income fund						34
U.S. government debt securities	$	301	$	239		274
Total Level 1 marketable securities		301		239		475

Level 2:
Marketable securities
Corporate debt securities		419		423		220
International debt securities		132		143		87
Mortgage-backed securities		174		165		161
Municipal debt securities		80		74		69
U.S. government debt securities		108		110		124
Total Level 2 marketable securities		913		915		661
Other assets – Derivatives		216		357		253
Accounts payable and accrued expenses – Derivatives		750		582		744

Level 3:
Accounts payable and accrued expenses – Deferred consideration		138		147		176

The mortgage-backed securities are primarily issued by U.S. government sponsored enterprises.

The contractual maturities of available-for-sale debt securities at January 26, 2025 follow:


	Amortized		Fair
	Cost		Value
Due in one year or less	$	41	$	32
Due after one through five years		354		341
Due after five through 10 years		531		498
Due after 10 years		200		169
Mortgage-backed securities		205		174
Debt securities	$	1,331	$	1,214

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.

Fair value, nonrecurring Level 3 measurements from impairments and other adjustments were as follows:


	Fair Value					(Gains) Losses
						Three Months Ended
	January 26		October 27		January 28	January 26		January 28
	2025		2024		2024	2025*		2024
Other assets			$	23
Assets held for sale	$	2,929		2,944		$	(32)

* The gain on “Assets held for sale” in the first quarter of 2025 represents a reversal of prior period valuation allowance loss, not in excess of cumulative valuation allowance recorded on “Assets held for sale.”

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 – The portfolio of investments is valued on a market approach (matrix pricing model) in which all significant inputs are observable or can be derived from or corroborated by observable market data such as interest rates, yield curves, volatilities, credit risk, and prepayment speeds. Funds are valued using the fund’s net asset value, based on the fair value of the underlying securities. International debt securities are valued using quoted prices for identical assets in inactive markets.

Derivatives – Our derivative financial instruments consist of interest rate contracts (swaps), foreign currency exchange contracts (futures, forwards, and swaps), and cross-currency interest rate contracts (swaps). The portfolio is valued based on an income approach (discounted cash flow) using market observable inputs, including swap curves and both forward and spot exchange rates for currencies.

Deferred consideration – The total purchase price consideration for three former Deere-Hitachi joint venture factories acquired in 2022 included supply agreement price increases beyond inflation adjustments. This deferred consideration will be paid as we purchase Deere-branded excavators, components, and service parts from Hitachi under the agreement with a duration that ranges from 5 to 30 years. The deferred consideration balance is reduced as purchases are made and valued on a discounted cash flow approach using market rates.

Other assets (Investment in unconsolidated affiliates) – Other than temporary impairments of investments are measured as the difference between the implied fair value and the carrying value of the investments. The estimated fair value for privately held entities is determined by an income approach (discounted cash flows), which includes inputs such as interest rates and margins.

Assets held for sale – The disposal group was measured at the lower of the carrying amount or fair value less cost to sell. Fair value was based on the probable sale price. The inputs included estimates of the final sale price (see Note 20).

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6A
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 940
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+ Details

DERIVATIVE INSTRUMENTS

3 Months Ended

Jan. 26, 2025

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 26, 2025						October 27, 2024						January 28, 2024
			Fair Value						Fair Value						Fair Value
	Notional		Assets		Liabilities		Notional		Assets		Liabilities		Notional		Assets		Liabilities
Cash flow hedges:
Interest rate contracts	$	3,275	$	1	$	31	$	2,875	$	3	$	20	$	2,200	$	27	$	4

Fair value hedges:
Interest rate contracts		15,256		32		602		15,864		115		467		12,633		58		592
Cross-currency interest rate contracts		975				2		975		31

Not designated as hedging instruments:
Interest rate contracts		13,082		88		72		12,518		97		75		14,200		129		82
Foreign exchange contracts		7,408		81		43		7,533		95		20		7,856		39		53
Cross-currency interest rate contracts		164		14				158		16				189				13

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 26, 2025
Short-term borrowings					$	2,110	$	(14)
Long-term borrowings	$	15,515	$	(617)		8,923		(179)

October 27, 2024
Short-term borrowings	$	287	$	(1)	$	1,782	$	7
Long-term borrowings		16,125		(347)		8,626		(228)

January 28, 2024
Short-term borrowings	$	288	$	(9)	$	1,960	$	10
Long-term borrowings		11,745		(537)		7,711		(270)

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 26		January 28
	2025		2024
Fair value hedges:
Interest rate contracts – Interest expense	$	(343)	$	344

Cash flow hedges:
Recognized in OCI:
Interest rate contracts – OCI (pretax)	$	7	$	(8)
Reclassified from OCI:
Interest rate contracts – Interest expense		8		11

Not designated as hedges:
Interest rate contracts – Interest expense	$	(4)	$	(9)
Foreign exchange contracts – Net sales		(7)		5
Foreign exchange contracts – Cost of sales		35		(30)
Foreign exchange contracts – Other operating expenses		208		(181)
Total not designated	$	232	$	(215)

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 26, 2025, October 27, 2024, and January 28, 2024 was $707, $562, and $691, respectively. In accordance with the limits established in these agreements, we posted $436, $245, and $368 of cash collateral at January 26, 2025, October 27, 2024, and January 28, 2024, respectively. In addition, we paid $8 of collateral that was outstanding at January 26, 2025, October 27, 2024, and January 28, 2024 to participate in an international futures market to hedge currency exposure, not included in the following table.

Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities related to netting arrangements and collateral follows:


	Gross Amounts		Netting
	Recognized		Arrangements		Collateral		Net Amount
January 26, 2025
Assets	$	216	$	(62)			$	154
Liabilities		750		(62)	$	(437)		251

October 27, 2024
Assets	$	357	$	(142)			$	215
Liabilities		582		(142)	$	(246)		194

January 28, 2024
Assets	$	253	$	(112)	$	(19)	$	122
Liabilities		744		(112)		(368)		264

SHARE-BASED AWARDS

3 Months Ended

Jan. 26, 2025

SHARE-BASED AWARDS

SHARE-BASED AWARDS

(19) Share-Based Awards

We are authorized to grant shares for equity incentive awards. The outstanding shares authorized were 13.7 million at January 26, 2025. In December 2024, we granted stock options to employees for the purchase of 168 thousand shares of common stock at an exercise price of $448.03 per share and a binomial lattice model fair value of $116.27 per share at the grant date. At January 26, 2025, options for 1.4 million shares were outstanding with a weighted-average exercise price of $291.97 per share.

During the three months ended January 26, 2025, 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:

SPECIAL ITEMS

3 Months Ended

Jan. 26, 2025

SPECIAL ITEMS

SPECIAL ITEMS

(20) Special Items

Discrete Tax Items

In the first quarter of 2025, we recorded favorable net discrete tax items primarily due to tax benefits of $110 related to the realization of foreign net operating losses from the consolidation of certain subsidiaries and $53 from an adjustment to an uncertain tax position of a foreign subsidiary.

Banco John Deere S.A.

In 2024, we entered into a joint venture agreement with a Brazilian bank, Banco Bradesco S.A. (Bradesco), for Bradesco to invest and become 50% owner of our wholly-owned subsidiary in Brazil, Banco John Deere S.A. (BJD). BJD is included in our financial services segment and finances retail and wholesale loans for agricultural, construction, and forestry equipment. The transaction is intended to reduce our incremental risk as we continue to grow in the Brazilian market. In February 2025, Bradesco contributed capital equal to our equity investment in BJD. We retained a 50% equity interest in BJD and will report the results of the joint venture as an equity investment in unconsolidated affiliates.

The BJD business was reclassified as held for sale in 2024. At January 26, 2025, the valuation allowance on “Assets held for sale” decreased to $65, resulting in a pretax and after-tax gain (reversal of previous losses) of $32 recorded in “Selling, administrative and general expenses” in the three months ended January 26, 2025 and presented in “Impairments and other adjustments” in the statements of consolidated cash flows.

The major classes of the total consolidated assets and liabilities of BJD that were classified as held for sale and liabilities of BJD to other intercompany parties were as follows:


	January 26, 2025
Cash and cash equivalents	$	115
Trade accounts and notes receivable – net		105
Financing receivables – net		2,719
Deferred income taxes		34
Other miscellaneous assets*		21
Valuation allowance		(65)
Assets held for sale	$	2,929

Short-term borrowings	$	487
Accounts payable and accrued expenses		124
Long-term borrowings		1,218
Retirement benefits and other liabilities		1
Liabilities held for sale	$	1,830

Total intercompany payables	$	627

* Includes $1 restricted cash balance.

SUBSEQUENT EVENTS

3 Months Ended

Jan. 26, 2025

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

(21) Subsequent Events

In February 2025, we completed the transaction with Bradesco (see Note 20) for the sale of 50% ownership in BJD. Bradesco contributed capital equal to our equity investment in BJD. We retained a 50% equity interest in BJD and will report the results of the joint venture as an equity investment in unconsolidated affiliates.

On February 26, 2025, a quarterly dividend of $1.62 per share was declared at the Board of Directors meeting, payable on May 8, 2025, to stockholders of record on March 31, 2025.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jan. 26, 2025	Jan. 28, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ 869	$ 1,751

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jan. 26, 2025
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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING PRONOUNCEMENTS (Policies)

3 Months Ended

Jan. 26, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING PRONOUNCEMENTS

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 2025 and 2024 were January 26, 2025 and January 28, 2024, respectively. Both periods contained 13 weeks. Fiscal year 2025 will contain 53 weeks, with the additional week occurring in the fourth quarter. 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 Pronouncements, 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 2025, none of which had a material effect on our consolidated financial statements.


No. 2023-05 — Business Combinations – Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement
No. 2022-03 — Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions

Accounting Pronouncements to be Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which expands disclosures about specific expense categories presented on the face of the income statement. In January 2025, the FASB issued ASU 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40), which clarifies the effective date of ASU 2024-03. The ASU will be effective for us beginning with our annual reporting for fiscal year 2028 and interim periods thereafter. We are assessing the effect of ASU 2024-03 on our related disclosures.

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 ASU will be effective for us beginning with our annual reporting for 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.


No. 2024-04 — Debt – Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments
No. 2023-07 — Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
No. 2023-06 — Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative

Credit Quality, 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.

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 with the exception of modifications related to bankruptcy proceedings. 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.

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.

We transfer financing receivables into a bankruptcy-remote special purpose entity (SPE).

2.

The SPE issues debt to investors. The debt is secured by the financing receivables.

3.

Investors are paid back based on cash receipts from the financing receivables.

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.

Inventory Valuation, Policy

A majority of inventories owned by us are valued at cost on the “last-in, first-out” (LIFO) basis.

- Definition

Disclosure of accounting policy for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. Includes, but is not limited to, methodology used to estimate allowance for credit loss, how writeoff of uncollectible amount is recognized, and determination of past due status and nonaccrual status.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.M.2.Q4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483530/326-20-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-14

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 30
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479391/326-20-30-5A

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-3C

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 35
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479366/326-20-35-8A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-3D

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479344/326-20-45-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 30
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479175/326-30-30-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-3C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-3A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-3D

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 35
-Paragraph 13A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479148/326-30-35-13A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 30
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479391/326-20-30-4A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 35
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479148/326-30-35-7A

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-21

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-11

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-7

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-17

+ Details

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

REVENUE RECOGNITION (Tables)

3 Months Ended

Jan. 26, 2025

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 26, 2025
	PPA		SAT		CF		FS		Total
Primary geographic markets:
United States	$	1,555	$	949	$	1,113	$	1,085	$	4,702
Canada		354		79		101		187		721
Western Europe		277		352		344		43		1,016
Central Europe and CIS		67		39		71		4		181
Latin America		715		80		205		96		1,096
Asia, Africa, Oceania, and Middle East		205		308		224		55		792
Total	$	3,173	$	1,807	$	2,058	$	1,470	$	8,508

Major product lines:
Production agriculture	$	3,002							$	3,002
Small agriculture			$	1,234						1,234
Turf				463						463
Construction					$	770				770
Compact construction						361				361
Roadbuilding						596				596
Forestry						226				226
Financial products		55		33		21	$	1,470		1,579
Other		116		77		84				277
Total	$	3,173	$	1,807	$	2,058	$	1,470	$	8,508

Revenue recognized:
At a point in time	$	3,086	$	1,760	$	2,028	$	29	$	6,903
Over time		87		47		30		1,441		1,605
Total	$	3,173	$	1,807	$	2,058	$	1,470	$	8,508


	Three Months Ended January 28, 2024
	PPA		SAT		CF		FS		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

OTHER COMPREHENSIVE INCOME ITEMS (Tables)

3 Months Ended

Jan. 26, 2025

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 26		October 27		January 28
	2025		2024		2024
Retirement benefits adjustment	$	(1,271)	$	(1,274)	$	(866)
Cumulative translation adjustment		(2,734)		(2,286)		(1,877)
Unrealized loss on derivatives		(73)		(72)		(23)
Unrealized loss on debt securities		(89)		(74)		(97)
Accumulated other comprehensive income (loss)	$	(4,167)	$	(3,706)	$	(2,863)

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 26, 2025	Amount		Credit		Amount
Cumulative translation adjustment	$	(449)	$	1	$	(448)
Unrealized gain (loss) on interest rate derivatives:
Unrealized hedging gain (loss)		7		(2)		5
Reclassification of realized (gain) loss to Interest expense		(8)		2		(6)
Net unrealized gain (loss) on derivatives		(1)				(1)
Unrealized gain (loss) on debt securities:
Unrealized holding gain (loss)		(19)		4		(15)
Net unrealized gain (loss) on debt securities		(19)		4		(15)
Retirement benefits adjustment:
Net actuarial gain (loss)		6		(1)		5
Reclassification to Other operating expenses through amortization of:
Actuarial (gain) loss		(11)		3		(8)
Prior service (credit) cost		9		(3)		6
Net unrealized gain (loss) on retirement benefits adjustment		4		(1)		3
Total other comprehensive income (loss)	$	(465)	$	4	$	(461)


	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 interest rate derivatives:
Unrealized hedging gain (loss)		(8)		2		(6)
Reclassification of realized (gain) loss to 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 to 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

EARNINGS PER SHARE (Tables)

3 Months Ended

Jan. 26, 2025

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 26		January 28
	2025		2024
Net income attributable to Deere & Company	$	869	$	1,751
Average shares outstanding		271.6		279.9
Basic per share	$	3.20	$	6.25

Average shares outstanding		271.6		279.9
Effect of dilutive stock options and unvested restricted stock units		.7		1.2
Total potential shares outstanding		272.3		281.1
Diluted per share	$	3.19	$	6.23

Shares excluded from EPS calculation, as antidilutive		.3		.2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

3 Months Ended

Jan. 26, 2025

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 26		January 28
	2025		2024
Pensions:
Service cost	$	65	$	58
Interest cost		128		136
Expected return on plan assets		(254)		(241)
Amortization of actuarial gain		(1)		(4)
Amortization of prior service cost		10		10
Net benefit	$	(52)	$	(41)

OPEB:
Service cost	$	5	$	5
Interest cost		40		43
Expected return on plan assets		(28)		(27)
Amortization of actuarial gain		(10)		(16)
Amortization of prior service credit		(1)		(1)
Net cost	$	6	$	4

Schedule of Pension and OPEB Contributions and Expected Contributions

During the first three months of 2025, we contributed and expect to contribute the following amounts to our pension and OPEB plans:


	Pensions		OPEB
Contributed	$	28	$	622
Expected contributions remainder of the year		72		38

SEGMENT DATA (Tables)

3 Months Ended

Jan. 26, 2025

SEGMENT DATA

Schedule of Segment Reporting Information

Information relating to operations by operating segment follows:


	Three Months Ended
	January 26		January 28		%
	2025		2024		Change
Net sales and revenues
PPA net sales	$	3,067	$	4,849	-37
SAT net sales		1,748		2,425	-28
CF net sales		1,994		3,212	-38
FS revenues		1,470		1,376	+7
Other revenues		229		323	-29
Total net sales and revenues	$	8,508	$	12,185	-30
Operating profit
PPA	$	338	$	1,045	-68
SAT		124		326	-62
CF		65		566	-89
FS		266		257	+4
Total operating profit		793		2,194	-64
Reconciling items		103		26	+296
Income taxes		(27)		(469)	-94
Net income attributable to Deere & Company	$	869	$	1,751	-50

Intersegment sales and revenues:
PPA net sales			$	8
SAT net sales				1
CF net sales
FS revenues	$	103		176

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, and net income attributable to noncontrolling interests.


Identifiable operating assets were as follows:
	January 26		October 27		January 28
	2025		2024		2024
PPA	$	8,773	$	8,696	$	9,059
SAT		4,179		4,130		4,426
CF		7,237		7,137		7,371
FS		69,686		73,612		69,900
Corporate		13,244		13,745		10,615
Total assets	$	103,119	$	107,320	$	101,371

FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 26, 2025

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 26, 2025
	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total
Allowance:
Beginning of period balance	$	219	$	8	$	2	$	229
Provision		68		2				70
Write-offs		(48)		(13)				(61)
Recoveries		2		9				11
Translation adjustments		(1)						(1)
End of period balance	$	240	$	6	$	2	$	248

Financing receivables:
End of period balance	$	38,300	$	3,302	$	8,299	$	49,901


	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

Ending Amortized Cost and Performance of Financing Receivables Modified

The ending amortized cost and performance of financing receivables modified during the prior twelve months ended January 26, 2025 and January 28, 2024 were as follows:


	January 26		January 28
	2025		2024*
Current	$	74	$	16
30-59 days past due		7
60-89 days past due		4
90+ days past due		3
Non-performing		13		1
Total	$	101	$	17

* In accordance with the adoption date of the accounting modification guidance, this period includes receivables modified during the prior three months.

Retail Customer Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows:


	January 26, 2025
	2025		2024		2023		2022		2021		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	2,421	$	12,687	$	7,437	$	4,560	$	2,387	$	903	$	3,027	$	33,422
30-59 days past due		8		113		94		51		27		12		128		433
60-89 days past due		1		44		38		21		10		5		24		143
90+ days past due				2		1				4						7
Non-performing				44		120		81		49		33		15		342
Construction and forestry
Current		883		2,834		1,614		880		349		73		99		6,732
30-59 days past due		7		72		45		29		11		3		5		172
60-89 days past due				30		21		11		4		1		3		70
90+ days past due				4		2		3				1				10
Non-performing				66		100		56		33		15		1		271
Total retail customer receivables	$	3,320	$	15,896	$	9,472	$	5,692	$	2,874	$	1,046	$	3,302	$	41,602

Write-offs for the three months ended January 26, 2025:
Agriculture and turf			$	5	$	9	$	6	$	2	$	3	$	10	$	35
Construction and forestry				9		8		4		1		1		3		26
Total			$	14	$	17	$	10	$	3	$	4	$	13	$	61


	October 27, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	14,394	$	8,305	$	5,191	$	2,833	$	992	$	253	$	4,465	$	36,433
30-59 days past due		44		101		55		27		11		4		40		282
60-89 days past due		22		50		21		10		8		2		13		126
90+ days past due		1		1		1		2								5
Non-performing		23		91		76		50		20		13		15		288
Construction and forestry
Current		3,100		1,841		1,064		458		102		45		114		6,724
30-59 days past due		54		47		25		10		3		2		4		145
60-89 days past due		25		28		10		7		2				2		74
90+ days past due		1		4		3		1								9
Non-performing		40		94		67		32		9		5		1		248
Total retail customer receivables	$	17,704	$	10,562	$	6,513	$	3,430	$	1,147	$	324	$	4,654	$	44,334

Write-offs for the twelve months ended October 27, 2024:
Agriculture and turf	$	5	$	33	$	25	$	11	$	11	$	5	$	87	$	177
Construction and forestry		9		38		30		11		5		3		8		104
Total	$	14	$	71	$	55	$	22	$	16	$	8	$	95	$	281


	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

Write-offs for the three months ended January 28, 2024:
Agriculture and turf			$	2	$	4	$	3	$	4	$	1	$	9	$	23
Construction and forestry				6		7		2		1		1		2		19
Total			$	8	$	11	$	5	$	5	$	2	$	11	$	42

Wholesale Receivables

Financing Receivables

Credit Quality and Aging Analysis

The credit quality and aging analysis of wholesale receivables was as follows:


	January 26		October 27		January 28
	2025		2024		2024
Wholesale receivables:
Agriculture and turf
Current	$	7,098	$	7,568	$	6,564
30+ days past due						1
Non-performing		1		1		1
Construction and forestry
Current		1,200		1,358		907
30+ days past due
Non-performing
Total wholesale receivables	$	8,299	$	8,927	$	7,473

SECURITIZATION OF FINANCING RECEIVABLES (Tables)

3 Months Ended

Jan. 26, 2025

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 26		October 27		January 28
	2025		2024		2024
Financing receivables securitized (retail notes)	$	8,307	$	8,770	$	6,418
Allowance for credit losses		(50)		(47)		(18)
Other assets (primarily restricted cash)		182		187		140
Total restricted securitized assets	$	8,439	$	8,910	$	6,540

Short-term securitization borrowings	$	8,014	$	8,431	$	6,116
Accrued interest on borrowings		11		14		10
Total liabilities related to restricted securitized assets	$	8,025	$	8,445	$	6,126

INVENTORIES (Tables)

3 Months Ended

Jan. 26, 2025

INVENTORIES

Major Classification of Inventories

If all inventories valued on a LIFO basis had been valued on a “first-in, first-out” (FIFO) basis, the estimated inventories by major classification would have been as follows:


	January 26		October 27		January 28
	2025		2024		2024
Raw materials and supplies	$	3,549	$	3,486	$	4,117
Work-in-process		1,046		930		1,223
Finished goods and parts		6,055		5,364		6,146
Total FIFO value		10,650		9,780		11,486
Excess of FIFO over LIFO		2,906		2,687		2,549
Inventories	$	7,744	$	7,093	$	8,937

GOODWILL AND OTHER INTANGIBLE ASSETS - NET (Tables)

3 Months Ended

Jan. 26, 2025

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.


	PPA		SAT		CF		Total
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

Goodwill at October 27, 2024	$	701	$	365	$	2,893	$	3,959
Translation adjustments		(11)		(4)		(72)		(87)
Goodwill at January 26, 2025	$	690	$	361	$	2,821	$	3,872

Components of Other Intangible Assets

The components of other intangible assets were as follows:


	January 26		October 27		January 28
	2025		2024		2024
Customer lists and relationships	$	490	$	508	$	509
Technology, patents, trademarks, and other		1,392		1,423		1,412
Total at cost		1,882		1,931		1,921
Less accumulated amortization:
Customer lists and relationships		(229)		(231)		(207)
Technology, patents, trademarks, and other		(716)		(701)		(602)
Total accumulated amortization		(945)		(932)		(809)
Other intangible assets – net	$	937	$	999	$	1,112

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

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-Paragraph 1
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-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

SHORT-TERM BORROWINGS (Tables)

3 Months Ended

Jan. 26, 2025

SHORT-TERM BORROWINGS

Short-Term Borrowings

Short-term borrowings were as follows:


	January 26		October 27		January 28
	2025		2024		2024
Commercial paper	$	2,699	$	4,008	$	8,378
Notes payable to banks		561		377		310
Finance lease obligations due within one year		34		33		27
Long-term borrowings due within one year		9,517		9,115		8,402
Short-term borrowings	$	12,811	$	13,533	$	17,117

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

3 Months Ended

Jan. 26, 2025

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:


	January 26		October 27		January 28
	2025		2024		2024
Accounts payable:
Trade payables	$	2,393	$	2,698	$	3,184
Dividends payable		443		405		413
Operating lease liabilities		274		270		293
Deposits withheld from dealers and merchants		136		152		153
Payables to unconsolidated affiliates		8		6		6
Other		207		204		183
Accrued expenses:
Employee benefits		786		1,925		1,107
Accrued taxes		1,111		1,509		1,364
Product warranties		1,360		1,426		1,589
Dealer sales discounts		246		996		243
Extended warranty premium		1,173		1,179		1,047
Derivative liabilities		750		582		744
Unearned revenue (contractual liability)		854		744		700
Unearned operating lease revenue		474		495		456
Accrued interest		487		455		502
Parts return liability		418		420		393
Other		1,042		1,077		984
Accounts payable and accrued expenses	$	12,162	$	14,543	$	13,361

Amounts are presented net of eliminations, which primarily consist of dealer sales incentives with a right of set-off against trade receivables of $1,901 at January 26, 2025, $2,121 at October 27, 2024, and $2,410 at January 28, 2024. Other eliminations were made for accrued taxes and other accrued expenses.

LONG-TERM BORROWINGS (Tables)

3 Months Ended

Jan. 26, 2025

LONG-TERM BORROWINGS

Long-Term Borrowings

Long-term borrowings consisted of:


	January 26		October 27		January 28
	2025		2024		2024
Underwritten term debt
U.S. dollar notes and debentures:
2.75% notes due 2025					$	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
5.45% notes due 2035		1,250
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
5.70% notes due 2055		750
Euro notes:
1.85% notes due 2028 (€600 principal)		625		650		651
2.20% notes due 2032 (€600 principal)		625		650		651
1.65% notes due 2039 (€650 principal)		677		704		705
Serial issuances:
Medium-term notes		34,974		36,566		31,001
Other notes and finance lease obligations		272		265		1,810
Less debt issuance costs and debt discounts		(167)		(156)		(135)
Long-term borrowings	$	43,556	$	43,229	$	39,933

Medium-term notes due through 2034 are primarily offered by prospectus and issued at fixed and variable rates. The principal balances of the medium-term notes were $35,770, $37,141, and $31,808 at January 26, 2025, October 27, 2024, and January 28, 2024, respectively. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

LEASES - LESSOR (Tables)

3 Months Ended

Jan. 26, 2025

LEASES - LESSOR

Schedule of Lease Revenues Earned

Lease revenues earned by us follow:


	Three Months Ended
	January 26		January 28
	2025		2024
Sales-type and direct finance lease revenues	$	47	$	47
Operating lease revenues		362		339
Variable lease revenues		4		4
Total lease revenues	$	413	$	390

COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Jan. 26, 2025

COMMITMENTS AND CONTINGENCIES

Warranty Reconciliation

The reconciliation of the changes in the warranty liability follows:


	Three Months Ended
	January 26		January 28
	2025		2024
Beginning of period balance	$	1,426	$	1,610
Warranty claims paid		(310)		(309)
New product warranty accruals		256		281
Foreign exchange		(12)		7
End of period balance	$	1,360	$	1,589

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jan. 26, 2025

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 26, 2025				October 27, 2024				January 28, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Financing receivables – net	$	41,396	$	41,311	$	44,309	$	44,336	$	43,708	$	43,236
Financing receivables securitized – net		8,257		8,174		8,723		8,654		6,400		6,225
Short-term securitization borrowings		8,014		8,036		8,431		8,453		6,116		6,104
Long-term borrowings due within one year		9,517		9,468		9,115		9,079		8,402		8,283
Long-term borrowings		43,483		43,172		43,157		42,804		39,878		39,321

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 26		October 27		January 28
	2025		2024		2024
Level 1:
Marketable securities
International equity securities					$	5
International mutual funds securities						57
U.S. equity fund						105
U.S. fixed income fund						34
U.S. government debt securities	$	301	$	239		274
Total Level 1 marketable securities		301		239		475

Level 2:
Marketable securities
Corporate debt securities		419		423		220
International debt securities		132		143		87
Mortgage-backed securities		174		165		161
Municipal debt securities		80		74		69
U.S. government debt securities		108		110		124
Total Level 2 marketable securities		913		915		661
Other assets – Derivatives		216		357		253
Accounts payable and accrued expenses – Derivatives		750		582		744

Level 3:
Accounts payable and accrued expenses – Deferred consideration		138		147		176

The mortgage-backed securities are primarily issued by U.S. government sponsored enterprises.

Contractual Maturities of Debt Securities

The contractual maturities of available-for-sale debt securities at January 26, 2025 follow:


	Amortized		Fair
	Cost		Value
Due in one year or less	$	41	$	32
Due after one through five years		354		341
Due after five through 10 years		531		498
Due after 10 years		200		169
Mortgage-backed securities		205		174
Debt securities	$	1,331	$	1,214

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.

Fair Value, Nonrecurring Level 3 Measurements from Impairments and other adjustments

Fair value, nonrecurring Level 3 measurements from impairments and other adjustments were as follows:


	Fair Value					(Gains) Losses
						Three Months Ended
	January 26		October 27		January 28	January 26		January 28
	2025		2024		2024	2025*		2024
Other assets			$	23
Assets held for sale	$	2,929		2,944		$	(32)

* The gain on “Assets held for sale” in the first quarter of 2025 represents a reversal of prior period valuation allowance loss, not in excess of cumulative valuation allowance recorded on “Assets held for sale.”

DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Jan. 26, 2025

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 26, 2025						October 27, 2024						January 28, 2024
			Fair Value						Fair Value						Fair Value
	Notional		Assets		Liabilities		Notional		Assets		Liabilities		Notional		Assets		Liabilities
Cash flow hedges:
Interest rate contracts	$	3,275	$	1	$	31	$	2,875	$	3	$	20	$	2,200	$	27	$	4

Fair value hedges:
Interest rate contracts		15,256		32		602		15,864		115		467		12,633		58		592
Cross-currency interest rate contracts		975				2		975		31

Not designated as hedging instruments:
Interest rate contracts		13,082		88		72		12,518		97		75		14,200		129		82
Foreign exchange contracts		7,408		81		43		7,533		95		20		7,856		39		53
Cross-currency interest rate contracts		164		14				158		16				189				13

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 26, 2025
Short-term borrowings					$	2,110	$	(14)
Long-term borrowings	$	15,515	$	(617)		8,923		(179)

October 27, 2024
Short-term borrowings	$	287	$	(1)	$	1,782	$	7
Long-term borrowings		16,125		(347)		8,626		(228)

January 28, 2024
Short-term borrowings	$	288	$	(9)	$	1,960	$	10
Long-term borrowings		11,745		(537)		7,711		(270)

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 26		January 28
	2025		2024
Fair value hedges:
Interest rate contracts – Interest expense	$	(343)	$	344

Cash flow hedges:
Recognized in OCI:
Interest rate contracts – OCI (pretax)	$	7	$	(8)
Reclassified from OCI:
Interest rate contracts – Interest expense		8		11

Not designated as hedges:
Interest rate contracts – Interest expense	$	(4)	$	(9)
Foreign exchange contracts – Net sales		(7)		5
Foreign exchange contracts – Cost of sales		35		(30)
Foreign exchange contracts – Other operating expenses		208		(181)
Total not designated	$	232	$	(215)

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 collateral follows:


	Gross Amounts		Netting
	Recognized		Arrangements		Collateral		Net Amount
January 26, 2025
Assets	$	216	$	(62)			$	154
Liabilities		750		(62)	$	(437)		251

October 27, 2024
Assets	$	357	$	(142)			$	215
Liabilities		582		(142)	$	(246)		194

January 28, 2024
Assets	$	253	$	(112)	$	(19)	$	122
Liabilities		744		(112)		(368)		264

SHARE-BASED AWARDS (Tables)

3 Months Ended

Jan. 26, 2025

SHARE-BASED AWARDS

Restricted Stock Units Granted and Weighted-Average Grant Date Fair Values

During the three months ended January 26, 2025, 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:

SPECIAL ITEMS (Tables)

3 Months Ended

Jan. 26, 2025

SPECIAL ITEMS

Schedule of Consolidated Assets and Liabilities Classified as Held for Sale and Other Intercompany Payables

The major classes of the total consolidated assets and liabilities of BJD that were classified as held for sale and liabilities of BJD to other intercompany parties were as follows:


	January 26, 2025
Cash and cash equivalents	$	115
Trade accounts and notes receivable – net		105
Financing receivables – net		2,719
Deferred income taxes		34
Other miscellaneous assets*		21
Valuation allowance		(65)
Assets held for sale	$	2,929

Short-term borrowings	$	487
Accounts payable and accrued expenses		124
Long-term borrowings		1,218
Retirement benefits and other liabilities		1
Liabilities held for sale	$	1,830

Total intercompany payables	$	627

* Includes $1 restricted cash balance.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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+ Details

ORGANIZATION AND CONSOLIDATION (Details)	3 Months Ended		12 Months Ended
ORGANIZATION AND CONSOLIDATION (Details)	Jan. 26, 2025	Jan. 28, 2024	Nov. 02, 2025
Fiscal period duration	91 days	91 days
Subsequent Events
Fiscal period duration			371 days

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NEW ACCOUNTING PRONOUNCEMENTS (Details)	Jan. 26, 2025
ASU 2023-05
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2022-03
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2024-03
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2025-01
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2023-09
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2024-04
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2023-07
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2023-06
New Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false

REVENUE RECOGNITION - Primary Geographic Market, Major Product Line, and Timing (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Revenue Recognition
Net sales and revenues	$ 8,508	$ 12,185
Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	6,903	10,682
Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	1,605	1,503
Production Agriculture
Revenue Recognition
Net sales	3,002	4,791
Small Agriculture
Revenue Recognition
Net sales	1,234	1,718
Turf
Revenue Recognition
Net sales	463	649
Construction
Revenue Recognition
Net sales	770	1,483
Compact Construction
Revenue Recognition
Net sales	361	626
Roadbuilding
Revenue Recognition
Net sales	596	763
Forestry
Revenue Recognition
Net sales	226	292
Financial Products
Revenue Recognition
Financial	1,579	1,480
Other
Revenue Recognition
Other net sales and revenues	277	383
United States
Revenue Recognition
Net sales and revenues	4,702	7,131
Canada
Revenue Recognition
Net sales and revenues	721	886
Western Europe
Revenue Recognition
Net sales and revenues	1,016	1,421
Central Europe and CIS
Revenue Recognition
Net sales and revenues	181	354
Latin America
Revenue Recognition
Net sales and revenues	1,096	1,303
Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	792	1,090
Production & Precision Ag (PPA)
Revenue Recognition
Net sales and revenues	3,173	5,043
Production & Precision Ag (PPA) \| Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	3,086	4,955
Production & Precision Ag (PPA) \| Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	87	88
Production & Precision Ag (PPA) \| Production Agriculture
Revenue Recognition
Net sales	3,002	4,791
Production & Precision Ag (PPA) \| Financial Products
Revenue Recognition
Financial	55	60
Production & Precision Ag (PPA) \| Other
Revenue Recognition
Other net sales and revenues	116	192
Production & Precision Ag (PPA) \| United States
Revenue Recognition
Net sales and revenues	1,555	2,721
Production & Precision Ag (PPA) \| Canada
Revenue Recognition
Net sales and revenues	354	386
Production & Precision Ag (PPA) \| Western Europe
Revenue Recognition
Net sales and revenues	277	503
Production & Precision Ag (PPA) \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	67	179
Production & Precision Ag (PPA) \| Latin America
Revenue Recognition
Net sales and revenues	715	819
Production & Precision Ag (PPA) \| Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	205	435
Small Ag & Turf (SAT)
Revenue Recognition
Net sales and revenues	1,807	2,492
Small Ag & Turf (SAT) \| Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	1,760	2,456
Small Ag & Turf (SAT) \| Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	47	36
Small Ag & Turf (SAT) \| Small Agriculture
Revenue Recognition
Net sales	1,234	1,718
Small Ag & Turf (SAT) \| Turf
Revenue Recognition
Net sales	463	649
Small Ag & Turf (SAT) \| Financial Products
Revenue Recognition
Financial	33	26
Small Ag & Turf (SAT) \| Other
Revenue Recognition
Other net sales and revenues	77	99
Small Ag & Turf (SAT) \| United States
Revenue Recognition
Net sales and revenues	949	1,345
Small Ag & Turf (SAT) \| Canada
Revenue Recognition
Net sales and revenues	79	118
Small Ag & Turf (SAT) \| Western Europe
Revenue Recognition
Net sales and revenues	352	517
Small Ag & Turf (SAT) \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	39	73
Small Ag & Turf (SAT) \| Latin America
Revenue Recognition
Net sales and revenues	80	98
Small Ag & Turf (SAT) \| Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	308	341
Construction & Forestry (CF)
Revenue Recognition
Net sales and revenues	2,058	3,274
Construction & Forestry (CF) \| Revenue Recognized at a Point in Time
Revenue Recognition
Net sales and revenues	2,028	3,243
Construction & Forestry (CF) \| Revenue Recognized Over Time
Revenue Recognition
Net sales and revenues	30	31
Construction & Forestry (CF) \| Construction
Revenue Recognition
Net sales	770	1,483
Construction & Forestry (CF) \| Compact Construction
Revenue Recognition
Net sales	361	626
Construction & Forestry (CF) \| Roadbuilding
Revenue Recognition
Net sales	596	763
Construction & Forestry (CF) \| Forestry
Revenue Recognition
Net sales	226	292
Construction & Forestry (CF) \| Financial Products
Revenue Recognition
Financial	21	18
Construction & Forestry (CF) \| Other
Revenue Recognition
Other net sales and revenues	84	92
Construction & Forestry (CF) \| United States
Revenue Recognition
Net sales and revenues	1,113	2,095
Construction & Forestry (CF) \| Canada
Revenue Recognition
Net sales and revenues	101	210
Construction & Forestry (CF) \| Western Europe
Revenue Recognition
Net sales and revenues	344	361
Construction & Forestry (CF) \| Central Europe and CIS
Revenue Recognition
Net sales and revenues	71	94
Construction & Forestry (CF) \| Latin America
Revenue Recognition
Net sales and revenues	205	256
Construction & Forestry (CF) \| Asia, Africa, Oceania, and Middle East
Revenue Recognition
Net sales and revenues	224	258
Financial Services (FS)
Revenue Recognition
Financial	1,470	1,376
Financial Services (FS) \| Revenue Recognized at a Point in Time
Revenue Recognition
Financial	29	28
Financial Services (FS) \| Revenue Recognized Over Time
Revenue Recognition
Financial	1,441	1,348
Financial Services (FS) \| Financial Products
Revenue Recognition
Financial	1,470	1,376
Financial Services (FS) \| United States
Revenue Recognition
Financial	1,085	970
Financial Services (FS) \| Canada
Revenue Recognition
Financial	187	172
Financial Services (FS) \| Western Europe
Revenue Recognition
Financial	43	40
Financial Services (FS) \| Central Europe and CIS
Revenue Recognition
Financial	4	8
Financial Services (FS) \| Latin America
Revenue Recognition
Financial	96	130
Financial Services (FS) \| Asia, Africa, Oceania, and Middle East
Revenue Recognition
Financial	$ 55	$ 56

REVENUE RECOGNITION - Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024	Oct. 27, 2024
Deferred Revenue
Deferred revenue received	$ 2,027	$ 1,747	$ 1,923
Revenue recognized from deferred revenue	$ 197	$ 230

REVENUE RECOGNITION - Unsatisfied Performance Obligations (Details) $ in Millions	Jan. 26, 2025 USD ($)
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 1,734
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-27
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 395
Period estimated revenue to be recognized	9 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	$ 444
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	$ 352
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	$ 235
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	$ 144
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	$ 102
Period estimated revenue to be recognized	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-10-28
Unsatisfied performance obligations
Unsatisfied performance obligations for contracts with an original duration greater than one year	$ 62
Period estimated revenue to be recognized	24 months

OTHER COMPREHENSIVE INCOME ITEMS - After-Tax Components (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ 22,479	$ 22,836	$ 22,075
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(4,167)	(3,706)	(2,863)
Retirement Benefits Adjustment
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(1,271)	(1,274)	(866)
Cumulative Translation Adjustment
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(2,734)	(2,286)	(1,877)
Unrealized Loss on Derivatives
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	(73)	(72)	(23)
Unrealized Loss on Debt Securities
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income (loss)	$ (89)	$ (74)	$ (97)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

OTHER COMPREHENSIVE INCOME ITEMS - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Other Comprehensive Income (Loss), Before Tax
Interest expense	$ (829)	$ (802)
Other operating expenses	(249)	(369)
Total other comprehensive income (loss), before tax	(465)	235
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	4	16
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss), net of income taxes	(461)	251
Cumulative Translation Adjustment
Other Comprehensive Income (Loss), Before Tax
Total other comprehensive income (loss), before tax	(449)	273
Other Comprehensive Income (Loss), Tax (Expense) Credit
Total other comprehensive income (loss), tax (expense) credit	1	1
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss), net of income taxes	(448)	274
Unrealized Gain (Loss) on Derivatives
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	7	(8)
Total other comprehensive income (loss), before tax	(1)	(19)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(2)	2
Total other comprehensive income (loss), tax (expense) credit		4
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	5	(6)
Other comprehensive income (loss), net of income taxes	(1)	(15)
Unrealized Gain (Loss) on Derivatives \| Interest Rate Contracts \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Interest expense	(8)	(11)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	2	2
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	(6)	(9)
Unrealized Gain (Loss) on Debt Securities
Other Comprehensive Income (Loss), Before Tax
Other comprehensive income (loss) before reclassification, before tax	(19)	1
Total other comprehensive income (loss), before tax	(19)	9
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	4	6
Total other comprehensive income (loss), tax (expense) credit	4	4
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	(15)	7
Other comprehensive income (loss), net of income taxes	(15)	13
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	6	(17)
Total other comprehensive income (loss), before tax	4	(28)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	(1)	4
Total other comprehensive income (loss), tax (expense) credit	(1)	7
Other Comprehensive Income (Loss), After Tax
Other comprehensive income (loss) before reclassification, after tax	5	(13)
Other comprehensive income (loss), net of income taxes	3	(21)
Actuarial (Gain) Loss \| Reclassification out of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Before Tax
Other operating expenses	(11)	(20)
Other Comprehensive Income (Loss), Tax (Expense) Credit
Reclassification from accumulated other comprehensive income, tax (expense) credit	3	5
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	(8)	(15)
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	(3)	(2)
Other Comprehensive Income (Loss), After Tax
Reclassification from accumulated other comprehensive income, after tax	$ 6	$ 7

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
EARNINGS PER SHARE
Net income attributable to Deere & Company	$ 869	$ 1,751
Average shares outstanding	271.6	279.9
Basic (in dollars per share)	$ 3.2	$ 6.25
Diluted Earnings Per Share
Average shares outstanding	271.6	279.9
Effect of dilutive stock options and unvested restricted stock units (in shares)	0.7	1.2
Total potential shares outstanding	272.3	281.1
Diluted (in dollars per share)	$ 3.19	$ 6.23
Shares excluded from EPS calculation, as antidilutive	0.3	0.2

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic (Benefit) Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Pensions
Net Periodic (Benefit) Cost
Service cost	$ 65	$ 58
Interest cost	$ 128	$ 136
Location of interest cost	Other operating expenses	Other operating expenses
Expected return on plan assets	$ (254)	$ (241)
Location of expected return on plan assets	Other operating expenses	Other operating expenses
Amortization of actuarial gain	$ (1)	$ (4)
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	$ (52)	$ (41)
OPEB
Net Periodic (Benefit) Cost
Service cost	5	5
Interest cost	$ 40	$ 43
Location of interest cost	Other operating expenses	Other operating expenses
Expected return on plan assets	$ (28)	$ (27)
Location of expected return on plan assets	Other operating expenses	Other operating expenses
Amortization of actuarial gain	$ (10)	$ (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	$ 6	$ 4

PENSION AND OTHER POSTRETIREMENT BENEFITS - Employer Contributions (Details) $ in Millions	3 Months Ended
	Jan. 26, 2025 USD ($)
Pensions
Employer Contributions
Contributed	$ 28
Expected contributions remainder of the year	72
OPEB
Employer Contributions
Contributed	622
Expected contributions remainder of the year	38
OPEB \| United States
Employer Contributions
Employer voluntary contribution	$ 520

SEGMENT DATA (Details) - USD ($) $ in Millions	3 Months Ended
SEGMENT DATA (Details) - USD ($) $ in Millions	Jan. 26, 2025	Jan. 28, 2024	Oct. 27, 2024
Net Sales and Revenues
Net sales and revenues	$ 8,508	$ 12,185
% Change - Net sales and revenues	(30.00%)
Operating Profit
Net income attributable to Deere & Company	$ 869	1,751
% Change - Net income attributable to Deere & Company	(50.00%)
Identifiable Assets
Total Assets	$ 103,119	101,371	$ 107,320
Operating Segments (Other)
Reconciling items	$ 103	26
% Change - Reconciling items	296.00%
Income taxes	$ (27)	(469)
% Change - Income taxes	(94.00%)
Operating Segment
Operating Profit
Total operating profit	$ 793	2,194
% Change - Operating profit	(64.00%)
Corporate
Identifiable Assets
Total Assets	$ 13,244	10,615	13,745
Other Revenues
Net Sales and Revenues
Other revenues	$ 229	323
% Change - Other revenues	(29.00%)
Production & Precision Ag (PPA)
Net Sales and Revenues
Net sales and revenues	$ 3,173	5,043
Production & Precision Ag (PPA) \| Operating Segment
Net Sales and Revenues
Intersegment sales and revenues		8
Operating Profit
Total operating profit	$ 338	1,045
% Change - Operating profit	(68.00%)
Identifiable Assets
Total Assets	$ 8,773	9,059	8,696
Small Ag & Turf (SAT)
Net Sales and Revenues
Net sales and revenues	1,807	2,492
Small Ag & Turf (SAT) \| Operating Segment
Net Sales and Revenues
Intersegment sales and revenues		1
Operating Profit
Total operating profit	$ 124	326
% Change - Operating profit	(62.00%)
Identifiable Assets
Total Assets	$ 4,179	4,426	4,130
Construction & Forestry (CF)
Net Sales and Revenues
Net sales and revenues	2,058	3,274
Construction & Forestry (CF) \| Operating Segment
Operating Profit
Total operating profit	$ 65	566
% Change - Operating profit	(89.00%)
Identifiable Assets
Total Assets	$ 7,237	7,371	7,137
Financial Services (FS)
Net Sales and Revenues
Financial revenues	1,470	1,376
Financial Services (FS) \| Operating Segment
Net Sales and Revenues
Financial revenues	$ 1,470	1,376
% Change - Financial revenues	7.00%
Intersegment sales and revenues	$ 103	176
Operating Profit
Total operating profit	$ 266	257
% Change - Operating profit	4.00%
Identifiable Assets
Total Assets	$ 69,686	69,900	$ 73,612
Net Sales
Net Sales and Revenues
Net sales and revenues	6,809	10,486
Net Sales \| Production & Precision Ag (PPA) \| Operating Segment
Net Sales and Revenues
Net sales	$ 3,067	4,849
% Change - Net sales	(37.00%)
Net Sales \| Small Ag & Turf (SAT) \| Operating Segment
Net Sales and Revenues
Net sales	$ 1,748	2,425
% Change - Net sales	(28.00%)
Net Sales \| Construction & Forestry (CF) \| Operating Segment
Net Sales and Revenues
Net sales	$ 1,994	$ 3,212
% Change - Net sales	(38.00%)

FINANCING RECEIVABLES - Delinquency Status (Details)	3 Months Ended
FINANCING RECEIVABLES - Delinquency Status (Details)	Jan. 26, 2025
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 Notes, Financing Leases, and Revolving Charge Accounts Credit Quality and Aging Analysis (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jan. 26, 2025	Jan. 28, 2024	Oct. 27, 2024
Credit Quality and Aging Analysis
Total retail customer receivables	$ 49,901	$ 50,303
Write-offs for the Period Ended
Total	61	42
Retail Customer Receivables
Credit Quality and Aging Analysis
2025 and 2024, respectively	3,320	4,066	$ 17,704
2024 and 2023, respectively	15,896	16,712	10,562
2023 and 2022, respectively	9,472	9,816	6,513
2022 and 2021, respectively	5,692	5,707	3,430
2021 and 2020, respectively	2,874	2,409	1,147
Prior years	1,046	1,114	324
Revolving charge accounts	3,302	3,006	4,654
Total retail customer receivables	41,602	42,830	44,334
Write-offs for the Period Ended
2025 and 2024, respectively			14
2024 and 2023, respectively	14	8	71
2023 and 2022, respectively	17	11	55
2022 and 2021, respectively	10	5	22
2021 and 2020, respectively	3	5	16
Prior Years	4	2	8
Revolving Charge Accounts	13	11	95
Total	61	42	281
Retail Customer Receivables \| Agriculture and Turf
Write-offs for the Period Ended
2025 and 2024, respectively			5
2024 and 2023, respectively	5	2	33
2023 and 2022, respectively	9	4	25
2022 and 2021, respectively	6	3	11
2021 and 2020, respectively	2	4	11
Prior Years	3	1	5
Revolving Charge Accounts	10	9	87
Total	35	23	177
Retail Customer Receivables \| Agriculture and Turf \| 30-59 Days Past Due
Credit Quality and Aging Analysis
2025 and 2024, respectively	8	5	44
2024 and 2023, respectively	113	122	101
2023 and 2022, respectively	94	66	55
2022 and 2021, respectively	51	47	27
2021 and 2020, respectively	27	22	11
Prior years	12	11	4
Revolving charge accounts	128	71	40
Total retail customer receivables	433	344	282
Retail Customer Receivables \| Agriculture and Turf \| 60-89 Days Past Due
Credit Quality and Aging Analysis
2025 and 2024, respectively	1	1	22
2024 and 2023, respectively	44	50	50
2023 and 2022, respectively	38	26	21
2022 and 2021, respectively	21	15	10
2021 and 2020, respectively	10	7	8
Prior years	5	5	2
Revolving charge accounts	24	16	13
Total retail customer receivables	143	120	126
Retail Customer Receivables \| Agriculture and Turf \| 90 Days or Greater Past Due
Credit Quality and Aging Analysis
2025 and 2024, respectively			1
2024 and 2023, respectively	2	1	1
2023 and 2022, respectively	1	1	1
2022 and 2021, respectively		3	2
2021 and 2020, respectively	4	4
Total retail customer receivables	7	9	5
Retail Customer Receivables \| Agriculture and Turf \| Current
Credit Quality and Aging Analysis
2025 and 2024, respectively	2,421	3,248	14,394
2024 and 2023, respectively	12,687	13,626	8,305
2023 and 2022, respectively	7,437	7,731	5,191
2022 and 2021, respectively	4,560	4,577	2,833
2021 and 2020, respectively	2,387	2,032	992
Prior years	903	931	253
Revolving charge accounts	3,027	2,798	4,465
Total retail customer receivables	33,422	34,943	36,433
Retail Customer Receivables \| Agriculture and Turf \| Non-performing
Credit Quality and Aging Analysis
2025 and 2024, respectively			23
2024 and 2023, respectively	44	49	91
2023 and 2022, respectively	120	95	76
2022 and 2021, respectively	81	66	50
2021 and 2020, respectively	49	34	20
Prior years	33	42	13
Revolving charge accounts	15	11	15
Total retail customer receivables	342	297	288
Retail Customer Receivables \| Construction and Forestry
Write-offs for the Period Ended
2025 and 2024, respectively			9
2024 and 2023, respectively	9	6	38
2023 and 2022, respectively	8	7	30
2022 and 2021, respectively	4	2	11
2021 and 2020, respectively	1	1	5
Prior Years	1	1	3
Revolving Charge Accounts	3	2	8
Total	26	19	104
Retail Customer Receivables \| Construction and Forestry \| 30-59 Days Past Due
Credit Quality and Aging Analysis
2025 and 2024, respectively	7	8	54
2024 and 2023, respectively	72	73	47
2023 and 2022, respectively	45	46	25
2022 and 2021, respectively	29	26	10
2021 and 2020, respectively	11	8	3
Prior years	3	3	2
Revolving charge accounts	5	5	4
Total retail customer receivables	172	169	145
Retail Customer Receivables \| Construction and Forestry \| 60-89 Days Past Due
Credit Quality and Aging Analysis
2025 and 2024, respectively			25
2024 and 2023, respectively	30	26	28
2023 and 2022, respectively	21	20	10
2022 and 2021, respectively	11	13	7
2021 and 2020, respectively	4	6	2
Prior years	1	3
Revolving charge accounts	3	2	2
Total retail customer receivables	70	70	74
Retail Customer Receivables \| Construction and Forestry \| 90 Days or Greater Past Due
Credit Quality and Aging Analysis
2025 and 2024, respectively			1
2024 and 2023, respectively	4		4
2023 and 2022, respectively	2	2	3
2022 and 2021, respectively	3	1	1
Prior years	1	1
Total retail customer receivables	10	4	9
Retail Customer Receivables \| Construction and Forestry \| Current
Credit Quality and Aging Analysis
2025 and 2024, respectively	883	803	3,100
2024 and 2023, respectively	2,834	2,698	1,841
2023 and 2022, respectively	1,614	1,743	1,064
2022 and 2021, respectively	880	911	458
2021 and 2020, respectively	349	276	102
Prior years	73	109	45
Revolving charge accounts	99	101	114
Total retail customer receivables	6,732	6,641	6,724
Retail Customer Receivables \| Construction and Forestry \| Non-performing
Credit Quality and Aging Analysis
2025 and 2024, respectively		1	40
2024 and 2023, respectively	66	67	94
2023 and 2022, respectively	100	86	67
2022 and 2021, respectively	56	48	32
2021 and 2020, respectively	33	20	9
Prior years	15	9	5
Revolving charge accounts	1	2	1
Total retail customer receivables	$ 271	$ 233	$ 248

FINANCING RECEIVABLES - Wholesale Receivables Credit Quality and Aging Analysis (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Credit Quality and Aging Analysis
Total wholesale receivables	$ 49,901		$ 50,303
Wholesale Receivables
Credit Quality and Aging Analysis
Total wholesale receivables	8,299	$ 8,927	7,473
Wholesale Receivables \| Agriculture and Turf \| 30+ Days Past Due
Credit Quality and Aging Analysis
Total wholesale receivables			1
Wholesale Receivables \| Agriculture and Turf \| Current
Credit Quality and Aging Analysis
Total wholesale receivables	7,098	7,568	6,564
Wholesale Receivables \| Agriculture and Turf \| Non-performing
Credit Quality and Aging Analysis
Total wholesale receivables	1	1	1
Wholesale Receivables \| Construction and Forestry \| Current
Credit Quality and Aging Analysis
Total wholesale receivables	$ 1,200	$ 1,358	$ 907

FINANCING RECEIVABLES - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jan. 26, 2025	Jan. 28, 2024	Oct. 27, 2024
Allowance:
Beginning of period balance	$ 229	$ 197	$ 197
Provision (credit)	70	33
Write-offs	(61)	(42)
Recoveries	11	9
Translation adjustments	(1)	(2)
End of period balance	248	195	229
Financing receivables:
End of period balance	49,901	50,303
Retail Customer Receivables
Allowance:
Write-offs	(61)	(42)	(281)
Financing receivables:
End of period balance	41,602	42,830	44,334
Retail Notes & Financing Leases
Allowance:
Beginning of period balance	219	172	172
Provision (credit)	68	35
Write-offs	(48)	(31)
Recoveries	2	1
Translation adjustments	(1)
End of period balance	240	177	219
Financing receivables:
End of period balance	38,300	39,824
Revolving Charge Accounts
Allowance:
Beginning of period balance	8	21	21
Provision (credit)	2	(2)
Write-offs	(13)	(11)
Recoveries	9	8
End of period balance	6	16	8
Financing receivables:
End of period balance	3,302	3,006
Wholesale Receivables
Allowance:
Beginning of period balance	2	4	4
Translation adjustments		(2)
End of period balance	2	2	2
Financing receivables:
End of period balance	$ 8,299	$ 7,473	$ 8,927

FINANCING RECEIVABLES - Modifications (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Modifications
Ending amortized cost of financing receivables modified during the period	$ 28	$ 17
Ending amortized cost of financing receivables modified during the prior 12 months	$ 101
Modifications (as a percent)	0.06%	0.03%
30-59 Days Past Due
Modifications
Ending amortized cost of financing receivables modified during the prior 12 months	$ 7
60-89 Days Past Due
Modifications
Ending amortized cost of financing receivables modified during the prior 12 months	4
90 Days or Greater Past Due
Modifications
Ending amortized cost of financing receivables modified during the prior 12 months	3
Current
Modifications
Ending amortized cost of financing receivables modified during the period		$ 16
Ending amortized cost of financing receivables modified during the prior 12 months	74
Non-performing
Modifications
Ending amortized cost of financing receivables modified during the period		$ 1
Ending amortized cost of financing receivables modified during the prior 12 months	$ 13
Payment Deferrals and Term Extensions
Modifications
Weighted average payment deferral provided to borrowers experiencing financial difficulty	4 months
Weighted average term extensions provided to borrowers experiencing financial difficulty	6 months
Payment Deferrals
Modifications
Weighted average payment deferral provided to borrowers experiencing financial difficulty	8 months
Term Extensions
Modifications
Weighted average term extensions provided to borrowers experiencing financial difficulty	12 months

SECURITIZATION OF FINANCING RECEIVABLES (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Securitization of Financing Receivables
Other assets	$ 2,807	$ 2,906	$ 2,578
Total Assets	103,119	107,320	101,371
Short-term securitization borrowings	8,014	8,431	6,116
Accrued interest on borrowings - securitization transactions	11	14	10
Total liabilities related to restricted securitized assets	8,025	8,445	6,126
Securitized
Securitization of Financing Receivables
Financing receivables securitized (retail notes)	8,307	8,770	6,418
Allowance for credit losses	(50)	(47)	(18)
Other assets	182	187	140
Total Assets	$ 8,439	$ 8,910	$ 6,540

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

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+ Details

INVENTORIES (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
INVENTORIES
Inventory cost methods	us-gaap:CostMethodFifoMember, us-gaap:CostMethodLifoMember	us-gaap:CostMethodFifoMember, us-gaap:CostMethodLifoMember	us-gaap:CostMethodFifoMember, us-gaap:CostMethodLifoMember
Raw materials and supplies	$ 3,549	$ 3,486	$ 4,117
Work-in-process	1,046	930	1,223
Finished goods and parts	6,055	5,364	6,146
Total FIFO value	10,650	9,780	11,486
Excess of FIFO over LIFO	2,906	2,687	2,549
Inventories	$ 7,744	$ 7,093	$ 8,937

GOODWILL AND OTHER INTANGIBLE ASSETS - NET - Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	$ 3,959	$ 3,900
Translation adjustments	(87)	66
Goodwill - net, ending balance	3,872	3,966
Production & Precision Ag (PPA)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	701	702
Translation adjustments	(11)	4
Goodwill - net, ending balance	690	706
Small Ag & Turf (SAT)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	365	363
Translation adjustments	(4)	2
Goodwill - net, ending balance	361	365
Construction & Forestry (CF)
Changes in Amounts of Goodwill
Goodwill - net, beginning balance	2,893	2,835
Translation adjustments	(72)	60
Goodwill - net, ending balance	$ 2,821	$ 2,895

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS - NET - Intangible Assets (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Amortized intangible assets:
Total at cost	$ 1,882	$ 1,931	$ 1,921
Total accumulated amortization	(945)	(932)	(809)
Other intangible assets - net	937	999	1,112
Customer Lists and Relationships
Amortized intangible assets:
Total at cost	490	508	509
Total accumulated amortization	(229)	(231)	(207)
Technology, Patents, Trademarks and Other
Amortized intangible assets:
Total at cost	1,392	1,423	1,412
Total accumulated amortization	$ (716)	$ (701)	$ (602)

GOODWILL AND OTHER INTANGIBLE ASSETS - NET - Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Other Intangible Assets Amortization
Actual amortization expense	$ 41	$ 42
Amortization expense of other intangible assets - remainder of 2025	102
Estimated - 2026	125
Estimated - 2027	118
Estimated - 2028	85
Estimated - 2029	73
Estimated - 2030	$ 70

SHORT-TERM BORROWINGS (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Short-term borrowings
Short-term borrowings	$ 12,811	$ 13,533	$ 17,117
Commercial Paper
Short-term borrowings
Short-term borrowings	2,699	4,008	8,378
Notes Payable to Banks
Short-term borrowings
Short-term borrowings	561	377	310
Finance Lease Obligations Due Within One Year
Short-term borrowings
Short-term borrowings	34	33	27
Long-term Borrowings Due Within One Year
Short-term borrowings
Short-term borrowings	$ 9,517	$ 9,115	$ 8,402

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024	Oct. 29, 2023
Accounts payable:
Dividends payable	$ 443	$ 405	$ 413
Operating lease liabilities	$ 274	$ 270	$ 293
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	$ 136	$ 152	$ 153
Other	207	204	183
Accrued expenses:
Employee benefits	786	1,925	1,107
Accrued taxes	1,111	1,509	1,364
Product warranties	1,360	1,426	1,589	$ 1,610
Dealer sales incentives	246	996	243
Extended warranty premium	1,173	1,179	1,047
Derivative liabilities	750	582	744
Unearned revenue (contractual liability)	854	744	700
Unearned operating lease revenue	474	495	456
Accrued interest	487	455	502
Parts return liability	418	420	393
Other	1,042	1,077	984
Accounts payable and accrued expenses	12,162	14,543	13,361
Eliminations \| Trade Accounts and Notes Receivable
Accrued expenses:
Dealer sales incentive accruals with a right of set-off against trade receivables	1,901	2,121	2,410
Nonrelated Party
Accounts payable:
Trade payables	2,393	2,698	3,184
Related Party
Accounts payable:
Trade payables	$ 8	$ 6	$ 6

LONG-TERM BORROWINGS (Details) € in Millions, $ in Millions	Jan. 26, 2025 USD ($)	Jan. 26, 2025 EUR (€)	Oct. 27, 2024 USD ($)	Oct. 27, 2024 EUR (€)	Jan. 28, 2024 USD ($)	Jan. 28, 2024 EUR (€)
Long-term borrowings
Less: debt issuance costs and debt discounts	$ (167)		$ (156)		$ (135)
Total long-term borrowings	43,556		43,229		39,933
2.75% Notes Due 2025
Long-term borrowings
Long-term borrowings, gross					$ 700
Debt instrument, stated interest rate					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%
5.45% Notes Due 2035
Long-term borrowings
Long-term borrowings, gross	$ 1,250
Debt instrument, stated interest rate	5.45%	5.45%	5.45%	5.45%	5.45%	5.45%
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%
5.70% Notes Due 2055
Long-term borrowings
Long-term borrowings, gross	$ 750
Debt instrument, stated interest rate	5.70%	5.70%	5.70%	5.70%	5.70%	5.70%
1.85% Notes Due 2028
Long-term borrowings
Long-term borrowings, gross	$ 625		$ 650		$ 651
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	$ 625		$ 650		$ 651
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	$ 677		$ 704		$ 705
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	$ 34,974		$ 36,566		$ 31,001
Principal amount	35,770		37,141		31,808
Other Notes and Finance Lease Obligations
Long-term borrowings
Long-term borrowings, gross	$ 272		$ 265		$ 1,810

LEASES - LESSOR - Lease Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
LEASES - LESSOR
Sales-type and direct finance lease revenues	$ 47	$ 47
Operating lease revenues	362	339
Variable lease revenues	4	4
Total lease revenues	$ 413	$ 390

COMMITMENTS AND CONTINGENCIES - Warranty (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Warranty Liability Reconciliation
Beginning of period balance	$ 1,426	$ 1,610
Warranty claims paid	(310)	(309)
New product warranty accruals	256	281
Foreign exchange	(12)	7
End of period balance	$ 1,360	$ 1,589

COMMITMENTS AND CONTINGENCIES - Other (Details) $ in Millions	3 Months Ended
	Jan. 26, 2025 USD ($)
Long Term Purchase Commitments
Commitments for the construction and acquisition of property and equipment	$ 490
Restricted Assets and Other Miscellaneous Contingent Liabilities and Guarantees
Other miscellaneous contingent liabilities	115
Accrual for other miscellaneous contingent liabilities	25
Other Assets
Restricted Assets and Other Miscellaneous Contingent Liabilities and Guarantees
Restricted assets	259
Guarantees, Third-party Receivables
Guarantee Obligations
Guarantee obligations maximum exposure	$ 128

FAIR VALUE MEASUREMENTS - Financial Instruments (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Fair Values of Financial Instruments
Short-term securitization borrowings	$ 8,014	$ 8,431	$ 6,116
Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	41,396	44,309	43,708
Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 8,257	$ 8,723	$ 6,400
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	$ 8,036	$ 8,453	$ 6,104
Long-term borrowings due within one year	9,468	9,079	8,283
Long-term borrowings	43,172	42,804	39,321
Level 3 \| Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	41,311	44,336	43,236
Level 3 \| Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 8,174	$ 8,654	$ 6,225
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	$ 8,014	$ 8,431	$ 6,116
Long-term borrowings due within one year	9,517	9,115	8,402
Long-term borrowings	43,483	43,157	39,878
Carrying Value \| Unrestricted
Fair Values of Financial Instruments
Financing receivables - net	41,396	44,309	43,708
Carrying Value \| Securitized
Fair Values of Financial Instruments
Financing receivables - net	$ 8,257	$ 8,723	$ 6,400
Location of liability for pledged asset	Short-term securitization borrowings	Short-term securitization borrowings	Short-term securitization borrowings

FAIR VALUE MEASUREMENTS - Assets and Liaibilities - Recurring (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	$ 1,214	$ 1,154	$ 1,136
Derivative assets	216	357	253
Derivative liabilities	750	582	744
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	301	239	475
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
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
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
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
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	301	239	274
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	913	915	661
Assets and Liabilities Measured at Fair Value on a Recurring Basis \| Level 2 \| Other Assets
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative assets	216	357	253
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	750	582	744
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	419	423	220
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	132	143	87
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	174	165	161
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	80	74	69
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	108	110	124
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	$ 138	$ 147	$ 176

FAIR VALUE MEASUREMENTS - Contractual Maturities of Available-for-sale Debt Securities (Details) $ in Millions	Jan. 26, 2025 USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost, due in one year or less	$ 41
Amortized cost, due after one through five years	354
Amortized cost, due after five through 10 years	531
Amortized cost, due after 10 years	200
Amortized cost, mortgage-backed securities	205
Amortized cost, debt securities	1,331
Contractual Maturities of Debt Securities, Fair Value
Fair value, due in one year or less	32
Fair value, due after one through five years	341
Fair value, due after five through 10 years	498
Fair value, due after 10 years	169
Fair value, mortgage-backed securities	174
Fair value, debt securities	$ 1,214

FAIR VALUE MEASUREMENTS - Nonrecurring Level 3 Measurements (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 27, 2022	Jan. 26, 2025	Oct. 27, 2024
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Assets held for sale		$ 2,929	$ 2,944
(Gains) losses, assets held for sale		(32)
Excavator Factories \| Deere-branded Excavators, Components, and Service Parts \| Minimum
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Supply agreement period	5 years
Excavator Factories \| Deere-branded Excavators, Components, and Service Parts \| Maximum
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Supply agreement period	30 years
Fair Value, Nonrecurring Measurements \| Level 3
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Other assets			23
Assets held for sale		2,929	$ 2,944
(Gains) losses, assets held for sale		$ (32)

DERIVATIVE INSTRUMENTS - Fair Values (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Fair Values of Derivative Instruments
Derivative assets	$ 216	$ 357	$ 253
Derivative liabilities	750	582	744
Designated as Hedging Instruments \| Cash Flow Hedges \| Interest Rate Contracts
Fair Values of Derivative Instruments
Notional	3,275	2,875	2,200
Designated as Hedging Instruments \| Cash Flow Hedges \| Interest Rate Contracts \| Other Assets
Fair Values of Derivative Instruments
Derivative assets	1	3	27
Designated as Hedging Instruments \| Cash Flow Hedges \| Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	31	20	4
Designated as Hedging Instruments \| Fair Value Hedges \| Interest Rate Contracts
Fair Values of Derivative Instruments
Notional	15,256	15,864	12,633
Designated as Hedging Instruments \| Fair Value Hedges \| Interest Rate Contracts \| Other Assets
Fair Values of Derivative Instruments
Derivative assets	32	115	58
Designated as Hedging Instruments \| Fair Value Hedges \| Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	602	467	592
Designated as Hedging Instruments \| Fair Value Hedges \| Cross-Currency Interest Rate Contracts
Fair Values of Derivative Instruments
Notional	975	975
Designated as Hedging Instruments \| Fair Value Hedges \| Cross-Currency Interest Rate Contracts \| Other Assets
Fair Values of Derivative Instruments
Derivative assets		31
Designated as Hedging Instruments \| Fair Value Hedges \| Cross-Currency Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	2
Not Designated as Hedging Instruments \| Interest Rate Contracts
Fair Values of Derivative Instruments
Notional	13,082	12,518	14,200
Not Designated as Hedging Instruments \| Interest Rate Contracts \| Other Assets
Fair Values of Derivative Instruments
Derivative assets	88	97	129
Not Designated as Hedging Instruments \| Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	72	75	82
Not Designated as Hedging Instruments \| Foreign Exchange Contracts
Fair Values of Derivative Instruments
Notional	7,408	7,533	7,856
Not Designated as Hedging Instruments \| Foreign Exchange Contracts \| Other Assets
Fair Values of Derivative Instruments
Derivative assets	81	95	39
Not Designated as Hedging Instruments \| Foreign Exchange Contracts \| Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities	43	20	53
Not Designated as Hedging Instruments \| Cross-Currency Interest Rate Contracts
Fair Values of Derivative Instruments
Notional	164	158	189
Not Designated as Hedging Instruments \| Cross-Currency Interest Rate Contracts \| Other Assets
Fair Values of Derivative Instruments
Derivative assets	$ 14	$ 16
Not Designated as Hedging Instruments \| Cross-Currency Interest Rate Contracts \| Accounts Payable and Accrued Expenses
Fair Values of Derivative Instruments
Derivative liabilities			$ 13

DERIVATIVE INSTRUMENTS - Fair Value Hedges (Details) - Fair Value Hedges - Interest Rate Contracts - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Active Hedging Relationships
Carrying Amount of Hedged Item	$ 15,515
Location of hedged item	Long-term borrowings
Short-term Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item		$ 287	$ 288
Cumulative Fair Value Hedging Amount		(1)	(9)
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	$ 2,110	1,782	1,960
Cumulative Fair Value Hedging Amount - Discontinued	(14)	7	10
Long-term Borrowings
Active Hedging Relationships
Carrying Amount of Hedged Item		16,125	11,745
Cumulative Fair Value Hedging Amount	(617)	(347)	(537)
Discontinued Hedging Relationships
Carrying Amount of Formerly Hedged Item	8,923	8,626	7,711
Cumulative Fair Value Hedging Amount - Discontinued	$ (179)	$ (228)	$ (270)

DERIVATIVE INSTRUMENTS - Gains (Losses) on Statements of Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 26, 2025	Jan. 28, 2024
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 232	$ (215)
Interest Rate Contracts
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	7	(8)
Interest Rate Contracts \| Interest Expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	(343)	344
Cash flow hedges, reclassified from OCI	8	11
Not designated as hedges, gains (losses)	(4)	(9)
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)	(7)	5
Foreign Exchange Contracts \| Cost of Sales
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	35	(30)
Foreign Exchange Contracts \| Other Operating Expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ 208	$ (181)

DERIVATIVE INSTRUMENTS - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Jan. 26, 2025	Oct. 27, 2024	Jan. 28, 2024
Derivative instruments
Fair value of derivatives with credit-risk-related contingent features in a liability position	$ 707	$ 562	$ 691
Cash collateral posted	436	245	368
Derivative Assets
Gross amounts recognized	216	357	253
Netting arrangements	(62)	(142)	(112)
Collateral received			(19)
Net amount	154	215	122
Derivative Liabilities
Gross amounts recognized	750	582	744
Netting arrangements	(62)	(142)	(112)
Collateral paid	(437)	(246)	(368)
Net amount	251	194	264
International Futures Market
Derivative instruments
Collateral paid to participate in an international futures market	$ 8	$ 8	$ 8

SHARE-BASED AWARDS - Stock Options (Details) - $ / shares shares in Thousands	1 Months Ended
	Dec. 22, 2024	Jan. 26, 2025
Share-based Awards, Aggregate Disclosures
Number of outstanding shares authorized to grant for equity incentive awards		13,700
Stock Options
Share-based Awards, Aggregate Disclosures
Options granted (in shares)	168
Options granted, exercise price (in dollars per share)	$ 448.03
Options granted, fair value (in dollars per share)	$ 116.27
Options outstanding (in shares)		1,400
Options outstanding, weighted-average exercise price (in dollars per share)		$ 291.97
Fair value assumption method used	us-gaap:BinomialModelMember

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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+ Details

SHARE-BASED AWARDS - Restricted Stock Units Granted and Weighted-Average Grant Date Fair Values (Details) shares in Thousands	3 Months Ended
	Jan. 26, 2025 $ / shares shares
Restricted Stock Units Service-Based
Share-based Awards, Aggregate Disclosures
Restricted stock units granted (in shares) \| shares	300
Restricted stock units granted, weighted-average grant-date fair value (per share) \| $ / shares	$ 447.84
Restricted Stock Units Performance/Service-Based
Share-based Awards, Aggregate Disclosures
Restricted stock units granted (in shares) \| shares	39
Restricted stock units granted, weighted-average grant-date fair value (per share) \| $ / shares	$ 429.77
Restricted Stock Units Market/Service-Based
Share-based Awards, Aggregate Disclosures
Restricted stock units granted (in shares) \| shares	39
Restricted stock units granted, weighted-average grant-date fair value (per share) \| $ / shares	$ 591.13
Fair value assumption method used	us-gaap:MonteCarloModelMember

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

SPECIAL ITEMS - Discrete Tax Items (Details) $ in Millions	3 Months Ended
SPECIAL ITEMS - Discrete Tax Items (Details) $ in Millions	Jan. 26, 2025 USD ($)
Realization of Foreign Net Operating Losses
Special Items
Favorable net discrete tax item	$ (110)
Adjustment to an Uncertain Tax Position of a Foreign Subsidiary
Special Items
Favorable net discrete tax item	$ (53)

SPECIAL ITEMS - Banco John Deere S.A. (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Feb. 23, 2025	Aug. 25, 2024	Jan. 26, 2025	Oct. 27, 2024
Special Items
(Gains) losses, assets held for sale			$ (32)
Assets and Liabilities Classified as Held for Sale and Other Intercompany Payables
Assets held for sale			2,929	$ 2,944
Liabilities held for sale			1,830	$ 1,827
Financial Services (FS) \| Subsequent Events
Special Items
Percentage of ownership after the sale (as a percent)	50.00%
Financial Services (FS) \| Sale of Banco John Deere S.A. (BJD) \| Related Party
Special Items
Total intercompany payables			627
Financial Services (FS) \| Sale of Banco John Deere S.A. (BJD) \| Disposal Group, Held-for-Sale, Not Discontinued Operations
Special Items
Percentage of ownership to be sold (as a percent)		50.00%
Valuation allowance on assets held for sale			(65)
(Gains) losses, assets held for sale, after-tax			(32)
Assets and Liabilities Classified as Held for Sale and Other Intercompany Payables
Cash and cash equivalents			115
Trade accounts and notes receivable - net			105
Financing receivables - net			2,719
Deferred income taxes			34
Other miscellaneous assets			21
Valuation allowance			(65)
Assets held for sale			2,929
Short-term borrowings			487
Accounts payable and accrued expenses			124
Long-term borrowings			1,218
Retirement benefits and other liabilities			1
Liabilities held for sale			1,830
Restricted cash			1
Financial Services (FS) \| Sale of Banco John Deere S.A. (BJD) \| Disposal Group, Held-for-Sale, Not Discontinued Operations \| Selling, Administrative and General Expenses
Special Items
(Gains) losses, assets held for sale			$ (32)

SUBSEQUENT EVENTS - Banco John Deere S.A. (Details) - Subsequent Events - Financial Services (FS)	1 Months Ended
	Feb. 23, 2025
Subsequent Events
Percentage of ownership after the sale (as a percent)	50.00%
Sale of Banco John Deere S.A. (BJD) \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Subsequent Events
Percentage of ownership sold (as a percent)	50.00%

SUBSEQUENT EVENTS - Quarterly Dividend (Details) - $ / shares	1 Months Ended	3 Months Ended
	Feb. 26, 2025	Jan. 26, 2025	Jan. 28, 2024
Subsequent Events
Quarterly dividend declared (in dollars per share)		$ 1.62	$ 1.47
Subsequent Events \| First Quarter 2025 Dividend
Subsequent Events
Dividend declared date	Feb. 26, 2025
Quarterly dividend declared (in dollars per share)	$ 1.62
Dividend payable date	May 08, 2025
Stockholders of record date	Mar. 31, 2025

Grant-Date

Fair Value
(per share)

Service-based

Performance/service-based

Market/service-based (fair value determined using a Monte Carlo model)