DE FY 2014 Earnings Report — Deere & Company Revenue & Financial Results | Market Cap Arena

Deere & CompanyDE

FY 2014 Earnings

Reported December 19, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$35.2B	—	$37.1B	—	-5.0%
Op. Income	$4.6B	—	$5.5B	—	-16.3%
Gross Margin	29.3%	—	30.5%	—	-1.2pp
Net Margin	9.0%	—	9.5%	—	-0.6pp
EPS (Diluted)	$8.63	—	$9.09	—	-5.1%
Free Cash Flow	$867M	—	$879M	—	-1.4%

Revenue Flow

Item	Amount
REVENUE	$35.2B
Cost of Revenue	$24.9B
GROSS PROFIT	$10.3B
R&D Expenses	$1.5B
Selling & Marketing	$0
General & Administrative	$3.3B
SG&A Expenses	$3.3B
Other Expenses	$942M
Operating Expenses	$5.7B
Cost & Expenses	$30.6B
OPERATING INCOME	$4.6B
Interest Income	$0
Interest Expense	$664M
Other Income/Expenses	$152M
INCOME BEFORE TAX	$4.8B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$1.3B
EBIT	$5.5B
EBITDA	$6.8B
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$35.2B
Cost of Revenue	$24.9B
GROSS PROFIT	$10.3B
R&D Expenses	$1.5B
Selling & Marketing	$0
General & Administrative	$3.3B
SG&A Expenses	$3.3B
Other Expenses	$942M
Operating Expenses	$5.7B
Cost & Expenses	$30.6B
OPERATING INCOME	$4.6B
Interest Income	$0
Interest Expense	$664M
Other Income/Expenses	$152M
INCOME BEFORE TAX	$4.8B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$1.3B
EBIT	$5.5B
EBITDA	$6.8B
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$3.2B
Depreciation & Amortization	$1.3B
Stock-Based Compensation	$79M
Deferred Income Tax	-$280M
Other Non-Cash Items	-$88M
Change in Working Capital	-$654M
OPERATING CASH FLOW	$3.5B
Capital Expenditure	-$2.7B
Acquisitions (Net)	$346M
Purchases of Investments	-$615M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$975M
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$3.1B
Common Stock Repurchased	-$2.7B
Common Dividends Paid	-$786M
Other Financing Activities	$117M
NET CASH FROM FINANCING	-$288M
FREE CASH FLOW	$867M
Net Change in Cash	$283M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.8B
Short-Term Investments	$1.2B
Net Receivables	$35.3B
Inventory	$4.2B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$44.5B
PP&E (Net)	$9.6B
Goodwill	$791M
Intangible Assets	$69M
Long-Term Investments	$303M
Tax Assets	$2.8B
Other Non-Current Assets	$3.3B
TOTAL NON-CURRENT ASSETS	$16.8B
TOTAL ASSETS	$61.3B
Account Payables	$1.7B
Short-Term Debt	$12.6B
Deferred Revenue	$1.0B
Other Current Liabilities	$334M
TOTAL CURRENT LIABILITIES	$19.9B
Long-Term Debt	$24.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$161M
Other Non-Current Liabilities	$7.8B
TOTAL NON-CURRENT LIABILITIES	$32.4B
TOTAL LIABILITIES	$52.3B
Common Stock	$3.7B
Additional Paid-In Capital	$0
Retained Earnings	$22.0B
Treasury Stock	-$12.8B
Accum. Other Comp. Income	-$3.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.1B
Minority Interest	$3M
TOTAL EQUITY	$9.1B
TOTAL LIABILITIES & EQUITY	$61.3B
Total Debt	$37.0B
Net Debt	$33.2B