DE FY 2013 Earnings Report — Deere & Company Revenue & Financial Results | Market Cap Arena

Deere & CompanyDE

FY 2013 Earnings

Reported December 16, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$37.1B	—	$35.5B	—	4.6%
Op. Income	$5.5B	—	$4.8B	—	14.5%
Gross Margin	30.5%	—	29.2%	—	1.3pp
Net Margin	9.5%	—	8.6%	—	0.9pp
EPS (Diluted)	$9.09	—	$7.63	—	19.1%
Free Cash Flow	$879M	—	-$953M	—	192.2%

Revenue Flow

Item	Amount
REVENUE	$37.1B
Cost of Revenue	$25.8B
GROSS PROFIT	$11.3B
R&D Expenses	$1.5B
Selling & Marketing	$0
General & Administrative	$3.6B
SG&A Expenses	$3.6B
Other Expenses	$678M
Operating Expenses	$5.8B
Cost & Expenses	$31.6B
OPERATING INCOME	$5.5B
Interest Income	$0
Interest Expense	$741M
Other Income/Expenses	-$58M
INCOME BEFORE TAX	$5.5B
Income Tax Expense	$1.9B
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.5B
D&A	$1.1B
EBIT	$6.2B
EBITDA	$7.4B
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$37.1B
Cost of Revenue	$25.8B
GROSS PROFIT	$11.3B
R&D Expenses	$1.5B
Selling & Marketing	$0
General & Administrative	$3.6B
SG&A Expenses	$3.6B
Other Expenses	$678M
Operating Expenses	$5.8B
Cost & Expenses	$31.6B
OPERATING INCOME	$5.5B
Interest Income	$0
Interest Expense	$741M
Other Income/Expenses	-$58M
INCOME BEFORE TAX	$5.5B
Income Tax Expense	$1.9B
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.5B
D&A	$1.1B
EBIT	$6.2B
EBITDA	$7.4B
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$3.5B
Depreciation & Amortization	$1.1B
Stock-Based Compensation	$81M
Deferred Income Tax	-$173M
Other Non-Cash Items	$84M
Change in Working Capital	-$1.4B
OPERATING CASH FLOW	$3.3B
Capital Expenditure	-$2.4B
Acquisitions (Net)	-$62M
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$844M
Other Investing Activities	-$2.2B
NET CASH FROM INVESTING	-$4.8B
Net Debt Issuance	$2.5B
Common Stock Repurchased	-$1.5B
Common Dividends Paid	-$753M
Other Financing Activities	-$9M
NET CASH FROM FINANCING	$407M
FREE CASH FLOW	$879M
Net Change in Cash	-$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.5B
Short-Term Investments	$1.6B
Net Receivables	$33.6B
Inventory	$4.9B
Other Current Assets	$505M
TOTAL CURRENT ASSETS	$44.1B
PP&E (Net)	$8.6B
Goodwill	$845M
Intangible Assets	$77M
Long-Term Investments	$221M
Tax Assets	$2.3B
Other Non-Current Assets	$3.3B
TOTAL NON-CURRENT ASSETS	$15.4B
TOTAL ASSETS	$59.5B
Account Payables	$2.2B
Short-Term Debt	$12.9B
Deferred Revenue	$919M
Other Current Liabilities	$403M
TOTAL CURRENT LIABILITIES	$20.7B
Long-Term Debt	$21.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$160M
Other Non-Current Liabilities	$6.8B
TOTAL NON-CURRENT LIABILITIES	$28.6B
TOTAL LIABILITIES	$49.3B
Common Stock	$3.5B
Additional Paid-In Capital	$0
Retained Earnings	$19.6B
Treasury Stock	-$10.2B
Accum. Other Comp. Income	-$2.7B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.3B
Minority Interest	$2M
TOTAL EQUITY	$10.3B
TOTAL LIABILITIES & EQUITY	$59.5B
Total Debt	$34.5B
Net Debt	$31.0B