
	February 1		November 2		January 26
	2026		2025		2025
Underwritten term debt
U.S. dollar notes and debentures:
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
4.15% notes due 2030*		500		498
7.125% notes due 2031		300		300		300
5.45% notes due 2035		1,250		1,250		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		750		750
Euro notes:
1.85% notes due 2028 (€600 principal)		718		694		625
2.20% notes due 2032 (€600 principal)		718		694		625
1.65% notes due 2039 (€650 principal)		778		752		677
Serial issuances:
Medium-term notes*		32,168		34,041		34,974
Other notes and finance lease obligations		519		470		272
Less: debt issuance costs and debt discounts		(147)		(155)		(167)
Long-term borrowings	$	41,804	$	43,544	$	43,556

The 4.15% notes due 2030 listed above were issued on October 9, 2025, by Deere Funding Canada Corporation (DFCC), an indirect wholly-owned subsidiary. These notes are fully and unconditionally guaranteed on a senior unsecured basis by Deere & Company and, therefore, rank equally with all our outstanding notes and debentures. DFCC financial results were not material to our condensed consolidated financial statements or results of operations, and as a result, we have elected to exclude summarized financial information.

Medium-term notes due through 2034 are primarily offered by prospectus and issued at fixed and variable rates. All outstanding notes and debentures are senior unsecured borrowings and rank equally with each other.

The principal balances of the 4.15% notes due 2030 and medium-term notes were as follows: