GOODWILL AND OTHER INTANGIBLE ASSETS-NET

9 Months Ended

Jul. 28, 2019

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

(14) Goodwill and Other Intangible Assets–Net

The changes in amounts of goodwill by operating segments were as follows in millions of dollars:


	Agriculture		Construction
	and Turf		and Forestry		Total
Goodwill at October 29, 2017	$	521	$	512	$	1,033
Acquisitions		28		2,067		2,095
Divestitures				(18)		(18)
Translation adjustments		(4)		(59)		(63)
Goodwill at July 29, 2018	$	545	$	2,502	$	3,047

Goodwill at October 28, 2018	$	583	$	2,518	$	3,101
Translation adjustments		(1)		(87)		(88)
Goodwill at July 28, 2019	$	582	$	2,431	$	3,013

There were no accumulated impairment losses in the reported periods.

The components of other intangible assets were as follows in millions of dollars:


	Useful Lives *	July 28		October 28		July 29
	(Years)	2019		2018		2018
Amortized intangible assets:
Customer lists and relationships	16	$	525	$	542	$	562
Technology, patents, trademarks, and other	18		1,057		1,080		1,052
Total at cost			1,582		1,622		1,614
Less accumulated amortization **			261		183		156
Total			1,321		1,439		1,458
Unamortized intangible assets:
In-process research and development			123		123		123
Other intangible assets – net		$	1,444	$	1,562	$	1,581

* Weighted-averages

** Accumulated amortization at July 28, 2019, October 28, 2018, and July 29, 2018 for customer lists and relationships totaled $71 million, $46 million, and $38 million and technology, patents, trademarks, and other totaled $190 million, $137 million, and $118 million, respectively.

The amortization of other intangible assets in the third quarter and the first nine months of 2019 was $27 million and $82 million and for 2018 was $27 million and $71 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2019 – $26, 2020 – $104, 2021 – $103, 2022 – $102, and 2023 – $100.