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DEERE & COMPANY DEERE & COMPANY CONSOLIDATED BALANCE SHEETS As of October 30,2022 and October 31, 2021 (In millions of dollars) The notes to consolidated
DEERE \& COMPANY DEERE \& COMPANY CONSOLIDATED BALANCE SHEETS As of October 30,2022 and October 31, 2021 (In millions of dollars) The notes to consolidated financial statements are an integral part of this statement. 3.ACQUISMONSAND DISPOSTIONS 14. PROPERTY AND DEPRECIATION Acquisitions A summary of property and equipment at October 30, 2022 and October 31, 202 l in millions of dollars follows: BearFlag In August 2022, the company acquired Bear Flag Robotics, Inc. [Bear Flag) to further accelerate Deere's development and delivery of advanced technology. Bear Flag's technology is complementary to other Deere technology efforts and enables autonomous tractor operations. The total cash purchase price before final adjustments, net of cash acquired of $4 million, was $225 million, The asset and liability fair values at the acquistion date in millions of dollars follow: Total property and equipment additions in 2022, 2021, and 2020 were SU197 million, 5897mili on, and $815 million and depreciation was $806 million. $830m ilion, and $800 million, respectively. The identified intangble was related to technology with a sevenyear amortization period. The goodwill will not be deductible for tax purposes: 13. INVENTORIES A majority of inventory owned by Deere \& Company and its US. equipment subsidianies are valued at cost, on the "last-in, first-out" 15. GOODWIL AND OTHERINTANGIBLE ASSETS - NET (LiFO) basis. Remaining inventories are generally valued at the lower of cost, on the "first-in, first-out" IFiFO) basis, or net The changes in amounts of goodwill by operating segments were realizable value. The value of gross inventories on the LIFO basis at October 30,2022 and October 31,2021 represented 57 percent and 54 percent, respectively, of worldwide gross inventories at FIFO value. If all inventories had been valued on a FiFO basis, estimated. inventories by majpr classification at October 30,2022 and October 31. 2021 in millions of dollars would have been as follows. There were no accumulated goodwil impairment losses in the reported periods. In the fiscal year ending October 30,2022, John Deere recognized $88 million in impairment charges related to Property, Plant, and Equipment (PP&E). Furthermore, John Deere recorded proceeds from the sale of PP\&E worth $52.3 million. Ignore any income tax effects. 1. (1 point) What is the net book value of the Property, Plant and Equipment that John Deere owned at October 30,2022 ? $ million 2. (2 points) What percentage of John Deere's PP\&E has been depreciated at October 30 , 2022? % 3. (2 points) What is the depreciation expense John Deere recorded for Property, Plant and Equipment in the fiscal year ending October 30,2022 ? million
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