UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM |
CURRENT REPORT
Pursuant to Section13 OR 15(d) of The Securities Exchange Act of 1934
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Items 2.02 and 8.01 | Results of Operations and Financial Condition and Other Events | |||||||||||||||||
John Deere Capital Corporation’s revenue, net income, and ending portfolio balance for the Second Quarter of Fiscal 2021 are set forth below: | ||||||||||||||||||
Second Quarter | Year to Date | |||||||||||||||||
$ in millions | 2021 | 2020 | % Change | 2021 | 2020 | % Change | ||||||||||||
Revenue | $ | 675 | $ | 700 | -4% | $ | 1,332 | $ | 1,419 | -6% | ||||||||
Net income | $ | 177 | $ | 26 | 581% | $ | 344 | $ | 125 | 175% | ||||||||
Ending portfolio balance | $ | 40,613 | $ | 38,223 | 6% | |||||||||||||
Results for the quarter and first six months were higher than the same periods in 2020 mainly due to a lower provision for credit losses, improvement on operating-lease residual values, and more-favorable financing spreads. Results last year also included impairments on lease residual values. | ||||||||||||||||||
Items 2.02 and 7.01 | Results of Operations and Financial Condition and Regulation FD Disclosure (Furnished herewith) | |||||||||||||||||
Deere & Company’s press release dated May 21, 2021 concerning Second Quarter of Fiscal 2021 financial results and supplemental financial information (Exhibit 99.1), the schedules of Deere & Company Other Financial Information (Exhibit 99.2), and Second Quarter 2021 Earnings Conference Call Information (Exhibit 99.3) are furnished under Form 8-K Items 2.02 and 7.01 (Incorporated by reference from Items 2.02 and 7.01 of Deere & Company’s Current Report on Form 8-K dated May 21, 2021, file number (1-4121)). The information is not filed for purposes of the Securities Exchange Act of 1934 and is not deemed incorporated by reference by any general statements incorporating by reference this report or future filings into any filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent John Deere Capital Corporation specifically incorporates the information by reference. | ||||||||||||||||||
Item 9.01 | Financial Statements and Exhibits | |||||||||||||||||
(d) | Exhibits | |||||||||||||||||
Number | Description of Exhibit | |||||||||||||||||
99.1 | ||||||||||||||||||
99.2 | ||||||||||||||||||
99.3 |
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
JOHN DEERE CAPITAL CORPORATION | ||
By: | /s/ Todd E. Davies | |
Todd E. Davies Secretary | ||
Dated: May 21, 2021 |
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