DE FY 2010 Earnings Report — Deere & Company Revenue & Financial Results | Market Cap Arena

Deere & CompanyDE

FY 2010 Earnings

Reported December 17, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$25.4B	—	$22.6B	—	12.4%
Op. Income	$3.2B	—	$1.9B	—	73.0%
Gross Margin	30.7%	—	27.2%	—	3.5pp
Net Margin	7.3%	—	3.9%	—	3.5pp
EPS (Diluted)	$4.35	—	$2.06	—	111.2%
Free Cash Flow	$969M	—	$677M	—	43.3%

Revenue Flow

Item	Amount
REVENUE	$25.4B
Cost of Revenue	$17.6B
GROSS PROFIT	$7.8B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$3.0B
SG&A Expenses	$3.0B
Other Expenses	$550M
Operating Expenses	$4.6B
Cost & Expenses	$22.2B
OPERATING INCOME	$3.2B
Interest Income	$0
Interest Expense	$811M
Other Income/Expenses	-$195M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$915M
EBIT	$3.8B
EBITDA	$4.8B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$25.4B
Cost of Revenue	$17.6B
GROSS PROFIT	$7.8B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$3.0B
SG&A Expenses	$3.0B
Other Expenses	$550M
Operating Expenses	$4.6B
Cost & Expenses	$22.2B
OPERATING INCOME	$3.2B
Interest Income	$0
Interest Expense	$811M
Other Income/Expenses	-$195M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$915M
EBIT	$3.8B
EBITDA	$4.8B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$915M
Stock-Based Compensation	$71M
Deferred Income Tax	$175M
Other Non-Cash Items	$475M
Change in Working Capital	-$1.2B
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$1.3B
Acquisitions (Net)	-$11M
Purchases of Investments	-$63M
Sales/Maturities of Investments	$38M
Other Investing Activities	-$761M
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	-$299M
Common Stock Repurchased	-$359M
Common Dividends Paid	-$484M
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$1.0B
FREE CASH FLOW	$969M
Net Change in Cash	-$861M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.8B
Short-Term Investments	$228M
Net Receivables	$23.4B
Inventory	$3.1B
Other Current Assets	$931M
TOTAL CURRENT ASSETS	$31.4B
PP&E (Net)	$5.7B
Goodwill	$999M
Intangible Assets	$117M
Long-Term Investments	$245M
Tax Assets	$2.5B
Other Non-Current Assets	$2.3B
TOTAL NON-CURRENT ASSETS	$11.8B
TOTAL ASSETS	$43.3B
Account Payables	$1.8B
Short-Term Debt	$7.5B
Deferred Revenue	$286M
Other Current Liabilities	$87M
TOTAL CURRENT LIABILITIES	$13.2B
Long-Term Debt	$16.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$144M
Other Non-Current Liabilities	$6.8B
TOTAL NON-CURRENT LIABILITIES	$23.7B
TOTAL LIABILITIES	$37.0B
Common Stock	$3.1B
Additional Paid-In Capital	$0
Retained Earnings	$12.4B
Treasury Stock	-$5.8B
Accum. Other Comp. Income	-$3.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.3B
Minority Interest	$13M
TOTAL EQUITY	$6.3B
TOTAL LIABILITIES & EQUITY	$43.3B
Total Debt	$24.3B
Net Debt	$20.6B