DE FY 2009 Earnings Report — Deere & Company Revenue & Financial Results | Market Cap Arena

Deere & CompanyDE

FY 2009 Earnings

Reported December 17, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$22.6B	—	$27.9B	—	-18.9%
Op. Income	$1.9B	—	$3.7B	—	-49.5%
Gross Margin	27.2%	—	28.7%	—	-1.5pp
Net Margin	3.9%	—	7.4%	—	-3.5pp
EPS (Diluted)	$2.06	—	$4.70	—	-56.2%
Free Cash Flow	$677M	—	$341M	—	98.6%

Revenue Flow

Item	Amount
REVENUE	$22.6B
Cost of Revenue	$16.4B
GROSS PROFIT	$6.2B
R&D Expenses	$977M
Selling & Marketing	$0
General & Administrative	$2.8B
SG&A Expenses	$2.8B
Other Expenses	$528M
Operating Expenses	$4.3B
Cost & Expenses	$20.7B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$1.0B
Other Income/Expenses	-$535M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$460M
Net Income from Continuing Ops	$873M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$874M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$874M
D&A	$873M
EBIT	$2.4B
EBITDA	$3.3B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$22.6B
Cost of Revenue	$16.4B
GROSS PROFIT	$6.2B
R&D Expenses	$977M
Selling & Marketing	$0
General & Administrative	$2.8B
SG&A Expenses	$2.8B
Other Expenses	$528M
Operating Expenses	$4.3B
Cost & Expenses	$20.7B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$1.0B
Other Income/Expenses	-$535M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$460M
Net Income from Continuing Ops	$873M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$874M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$874M
D&A	$873M
EBIT	$2.4B
EBITDA	$3.3B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$874M
Depreciation & Amortization	$873M
Stock-Based Compensation	$71M
Deferred Income Tax	$172M
Other Non-Cash Items	$492M
Change in Working Capital	-$496M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$1.3B
Acquisitions (Net)	-$50M
Purchases of Investments	-$30M
Sales/Maturities of Investments	$825M
Other Investing Activities	$505M
NET CASH FROM INVESTING	-$57M
Net Debt Issuance	$1.1B
Common Stock Repurchased	-$3M
Common Dividends Paid	-$473M
Other Financing Activities	-$137M
NET CASH FROM FINANCING	$470M
FREE CASH FLOW	$677M
Net Change in Cash	$2.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.7B
Short-Term Investments	$192M
Net Receivables	$21.0B
Inventory	$2.4B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$28.3B
PP&E (Net)	$6.3B
Goodwill	$1.0B
Intangible Assets	$136M
Long-Term Investments	$213M
Tax Assets	$2.8B
Other Non-Current Assets	$2.4B
TOTAL NON-CURRENT ASSETS	$12.9B
TOTAL ASSETS	$41.1B
Account Payables	$1.1B
Short-Term Debt	$7.2B
Deferred Revenue	$280M
Other Current Liabilities	$51M
TOTAL CURRENT LIABILITIES	$11.7B
Long-Term Debt	$17.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$167M
Other Non-Current Liabilities	$7.0B
TOTAL NON-CURRENT LIABILITIES	$24.6B
TOTAL LIABILITIES	$36.3B
Common Stock	$3.0B
Additional Paid-In Capital	$0
Retained Earnings	$11.0B
Treasury Stock	-$5.6B
Accum. Other Comp. Income	-$3.6B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$4M
TOTAL EQUITY	$4.8B
TOTAL LIABILITIES & EQUITY	$41.1B
Total Debt	$24.6B
Net Debt	$19.9B