DEERE & CO
For the period ended Oct 27, 2024. Filed Dec 12, 2024.
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FY2024 · Filed Dec 12, 2024
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Goodwill and Other Intangible Assets ‒ Net
15. GOODWILL AND OTHER INTANGIBLE ASSETS – NET
The changes in amounts of goodwill by operating segments were as follows. There wereno accumulated goodwill impairment losses.
| | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · PPA · SAT · CF · Total | |||||||||||||
| October 30, 2022 | | $646 | | $318 | | $2,723 | | $3,687 | |||||
| Acquisitions (Note 3) | | | 41 | | | 40 | | | | | | 81 | |
| Translation adjustments and other | | | 15 | | | 5 | | | 112 | | 132 | | |
| October 29, 2023 | | | 702 | | | 363 | | | 2,835 | | 3,900 | | |
| Translation adjustments and other | | | (1) | | | 2 | | | 58 | | 59 | | |
| October 27, 2024 | | $701 | | $365 | | $2,893 | | $3,959 | | ||||
The components of other intangible assets were as follows:
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · 2024 · 2023 | |||||||
| Customer lists and relationships | | $508 | | $501 | |||
| Technology, patents, trademarks, and other | | 1,423 | | 1,387 | | ||
| Total at cost | | 1,931 | | 1,888 | | ||
| Less accumulated amortization: | | | | | | ||
| Customer lists and relationships | | | (231) | | | (195) | |
| Technology, patents, trademarks, and other | | | (701) | | | (560) | |
| Total accumulated amortization | | | (932) | | | (755) | |
| Other intangible assets – net | $999 | $1,133 | | ||||
Actual amortization expense for the past three years and the estimated amortization expense for the next five years follows:
| | | | | |
|---|---|---|---|---|
| Year · · Amortization · | ||||
| 2022 | | $145 | | |
| 2023 | | | 169 | |
| 2024 | | | 166 | |
| Estimated – 2025 | | | 146 | |
| 2026 | | | 128 | |
| 2027 | | | 121 | |
| 2028 | | | 87 | |
| 2029 | | | 74 | |
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