GOODWILL AND OTHER INTANGIBLE ASSETS-NET

12 Months Ended

Nov. 03, 2019

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

18. 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		and
	Turf		Forestry		Total
Goodwill at October 29, 2017	$	521	$	512	$	1,033
Acquisitions*		71		2,068		2,139
Divestitures*				(18)		(18)
Translation adjustments and other		(9)		(44)		(53)
Goodwill at October 28, 2018		583		2,518		3,101
Divestitures*				(22)		(22)
Translation adjustments and other		(9)		(153)		(162)
Goodwill at November 3, 2019	$	574	$	2,343	$	2,917

* See Note 4.

There were no accumulated impairment losses in the reported periods.

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


	Useful Lives*
	(Years)	2019		2018
Amortized intangible assets:
Customer lists and relationships	16	$	511	$	542
Technology, patents, trademarks, and other	18		1,028		1,080
Total at cost			1,539		1,622
Less accumulated amortization**			282		183
Total			1,257		1,439
Unamortized intangible assets:
In-process research and development***			123		123
Other intangible assets - net		$	1,380	$	1,562

* Weighted-averages

** Accumulated amortization at 2019 and 2018 for customer lists and relationships was $77 million and $46 million and technology, patents, trademarks, and other was $205 million and $137 million, respectively.

***See Note 4.

Other intangible assets are stated at cost less accumulated amortization. The amortization of other intangible assets in 2019, 2018, and 2017 was $109 million, $100 million, and $18 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: 2020 - $101, 2021 - $100, 2022 - $100, 2023 - $97, and 2024 - $95.