In 2019 and 2018, the Company recorded discrete tax adjustments related to the remeasurement of the Company’s net deferred tax assets to the new corporate income tax rate and for the deemed earnings repatriation tax (repatriation tax). Those adjustments for the third quarter and first nine months of 2019 and 2018 in millions of dollars follow: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
July 28, 2019 | | Nine Months Ended
July 28, 2019 | | | | Equipment Operations | | | Financial Services | | Total | | Equipment Operations | | | Financial Services | | Total | | Net deferred tax asset remeasurement | | | | | | | | | | | | | | $ | 5 | | $ | 5 | | Deemed earnings repatriation tax | | $ | (24) | | $ | (8) | | $ | (32) | | $ | (24) | | | (8) | | | (32) | | Total discrete tax expense (benefit) | | $ | (24) | | $ | (8) | | $ | (32) | | $ | (24) | | $ | (3) | | $ | (27) | |
| | | | | | | | | | | | | | | | | | | | | | Three Months Ended
July 29, 2018 | | Nine Months Ended
July 29, 2018 | | | | Equipment Operations | | | Financial Services | | Total | | Equipment Operations | | | Financial Services | | Total | | Net deferred tax asset remeasurement | | $ | (58) | | $ | (4) | | $ | (62) | | $ | 795 | | $ | (318) | | $ | 477 | | Deemed earnings repatriation tax | | | | | | | | | | | | 179 | | | 85 | | | 264 | | Total discrete tax expense (benefit) | | $ | (58) | | $ | (4) | | $ | (62) | | $ | 974 | | $ | (233) | | $ | 741 | |
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