d31. SUPPLEMENTAL CONSOLIDATING DATA


INCOME STATEMENT
For the Years Ended October 31, 2015, 2014 and 2013
(In millions of dollars)
	EQUIPMENT OPERATIONS*						FINANCIAL SERVICES
	2015		2014		2013		2015		2014		2013
Net Sales and Revenues
Net sales	$	25,775.2	$	32,960.6	$	34,997.9
Finance and interest income		77.0		76.5		80.8	$	2,557.0	$	2,475.0	$	2,280.5
Other income		602.7		622.6		549.1		258.9		330.2		288.4
Total		26,454.9		33,659.7		35,627.8		2,815.9		2,805.2		2,568.9

Costs and Expenses
Cost of sales		20,145.2		24,777.8		25,668.8
Research and development expenses		1,425.1		1,452.0		1,477.3
Selling, administrative and general expenses		2,393.8		2,765.1		3,143.9		487.3		529.2		473.2
Interest expense		272.8		289.4		297.1		455.0		430.9		487.6
Interest compensation to Financial Services		204.8		212.1		202.7
Other operating expenses		195.0		285.4		223.7		911.7		925.6		739.0
Total		24,636.7		29,781.8		31,013.5		1,854.0		1,885.7		1,699.8

Income of Consolidated Group before Income Taxes		1,818.2		3,877.9		4,614.3		961.9		919.5		869.1
Provision for income taxes		509.9		1,329.6		1,640.7		330.2		296.9		305.2
Income of Consolidated Group		1,308.3		2,548.3		2,973.6		631.7		622.6		563.9
Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Financial Services		632.9		624.5		565.0		1.2		1.9		1.1
Other		(.3)		(9.5)		(1.0)
Total		632.6		615.0		564.0		1.2		1.9		1.1
Net Income		1,940.9		3,163.3		3,537.6		632.9		624.5		565.0
Less: Net income attributable to noncontrolling interests		.9		1.6		.3
Net Income Attributable to Deere & Company	$	1,940.0	$	3,161.7	$	3,537.3	$	632.9	$	624.5	$	565.0

*Deere & Company with Financial Services on the equity basis.

The supplemental consolidating data is presented for informational purposes. The “Equipment Operations” reflect the basis of consolidation described in Note 1 to the consolidated financial statements. The consolidated group data in the “Equipment Operations” income statement reflect the results of the agriculture and turf operations and construction and forestry operations. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.

31. SUPPLEMENTAL CONSOLIDATING DATA (continued)


BALANCE SHEET
As of October 31, 2015 and 2014
(In millions of dollars except per share amounts)
	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2015		2014		2015		2014
ASSETS
Cash and cash equivalents	$	2,900.0	$	2,569.2	$	1,262.2	$	1,217.8
Marketable securities		47.7		700.4		389.7		514.7
Receivables from unconsolidated subsidiaries and affiliates		2,428.7		3,663.9
Trade accounts and notes receivable - net		485.2		706.0		3,553.1		3,554.4
Financing receivables - net		.9		18.5		24,808.1		27,403.7
Financing receivables securitized - net						4,834.6		4,602.3
Other receivables		849.5		848.0		152.9		659.0
Equipment on operating leases - net						4,970.4		4,015.5
Inventories		3,817.0		4,209.7
Property and equipment - net		5,126.2		5,522.5		55.3		55.3
Investments in unconsolidated subsidiaries and affiliates		4,817.6		5,106.5		10.5		10.9
Goodwill		726.0		791.2
Other intangible assets - net		63.6		64.8				4.0
Retirement benefits		211.9		263.5		25.0		32.9
Deferred income taxes		3,092.0		2,981.9		67.9		64.9
Other assets		807.3		850.6		779.1		648.2
Total Assets	$	25,373.6	$	28,296.7	$	40,908.8	$	42,783.6
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Short-term borrowings	$	464.3	$	434.1	$	7,962.3	$	7,585.1
Short-term securitization borrowings						4,590.0		4,558.5
Payables to unconsolidated subsidiaries and affiliates		80.6		101.0		2,395.4		3,633.7
Accounts payable and accrued expenses		6,801.2		7,518.4		1,511.2		2,027.0
Deferred income taxes		86.8		87.1		466.6		344.1
Long-term borrowings		4,460.6		4,642.5		19,372.2		19,738.2
Retirement benefits and other liabilities		6,722.5		6,448.1		86.4		82.8
Total liabilities		18,616.0		19,231.2		36,384.1		37,969.4
Commitments and contingencies (Note 22)
STOCKHOLDERS’ EQUITY
Common stock, $1 par value (authorized - 1,200,000,000 shares; issued - 536,431,204 shares in 2015 and 2014), at paid-in amount		3,825.6		3,675.4		2,050.8		2,023.1
Common stock in treasury, 219,743,893 shares in 2015 and 190,926,805 shares in 2014, at cost		(15,497.6)		(12,834.2)
Retained earnings		23,144.8		22,004.4		2,764.8		2,811.8
Accumulated other comprehensive income (loss)		(4,729.4)		(3,783.0)		(290.9)		(20.7)
Total Deere & Company stockholders’ equity		6,743.4		9,062.6		4,524.7		4,814.2
Noncontrolling interests		14.2		2.9
Total stockholders’ equity		6,757.6		9,065.5		4,524.7		4,814.2
Total Liabilities and Stockholders’ Equity	$	25,373.6	$	28,296.7	$	40,908.8	$	42,783.6

*Deere & Company with Financial Services on the equity basis.

The supplemental consolidating data is presented for informational purposes. The “Equipment Operations” reflect the basis of consolidation described in Note 1 to the consolidated financial statements. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.

31. SUPPLEMENTAL CONSOLIDATING DATA (continued)


STATEMENT OF CASH FLOWS
For the Years Ended October 31, 2015, 2014 and 2013
(In millions of dollars)
	EQUIPMENT OPERATIONS*						FINANCIAL SERVICES
	2015		2014		2013		2015		2014		2013
Cash Flows from Operating Activities
Net income	$	1,940.9	$	3,163.3	$	3,537.6	$	632.9	$	624.5	$	565.0
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses		5.5		2.9		10.8		49.9		35.2		9.7
Provision for depreciation and amortization		791.8		795.7		733.0		688.5		574.9		492.2
Impairment charges		15.3		95.9		102.0		19.5
Undistributed earnings of unconsolidated subsidiaries and affiliates		46.6		(463.4)		(369.0)		(1.0)		(1.7)		(.9)
Provision (credit) for deferred income taxes		(139.8)		(236.4)		(204.6)		121.4		(43.7)		32.0
Changes in assets and liabilities:
Trade receivables		113.4		231.5		26.1
Insurance receivables								333.4		(149.9)		263.4
Inventories		(17.0)		496.2		(69.6)
Accounts payable and accrued expenses		(253.8)		(277.0)		470.5		(245.4)		263.3		(207.9)
Accrued income taxes payable/receivable		(133.0)		330.5		84.2		(4.6)		12.1		(3.8)
Retirement benefits		414.3		323.0		241.6		13.2		13.9		20.4
Other		271.1		70.0		106.0		(25.7)		(7.7)		73.5
Net cash provided by operating activities		3,055.3		4,532.2		4,668.6		1,582.1		1,320.9		1,243.6

Cash Flows from Investing Activities
Collections of receivables (excluding trade and wholesale)								16,266.1		16,772.0		15,440.0
Proceeds from maturities and sales of marketable securities		700.1		1,000.1		800.1		160.6		22.4		43.8
Proceeds from sales of equipment on operating leases								1,049.4		1,091.5		936.7
Proceeds from sales of businesses, net of cash sold				345.8		22.0		149.2
Cost of receivables acquired (excluding trade and wholesale)								(16,327.8)		(19,015.3)		(18,792.7)
Purchases of marketable securities		(60.0)		(504.1)		(911.1)		(94.9)		(110.5)		(115.2)
Purchases of property and equipment		(688.1)		(1,045.2)		(1,155.2)		(5.9)		(3.1)		(3.2)
Cost of equipment on operating leases acquired								(3,043.6)		(2,684.2)		(2,107.2)
Increase in investment in Financial Services		(27.4)		(66.8)		(121.6)
Acquisitions of businesses, net of cash acquired						(83.5)
Decrease (increase) in trade and wholesale receivables								657.0		(782.0)		(1,152.7)
Other		6.8		(98.6)		(120.0)		(45.1)		(47.1)		(94.5)
Net cash used for investing activities		(68.6)		(368.8)		(1,569.3)		(1,235.0)		(4,756.3)		(5,845.0)

Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings		211.9		(65.8)		36.0		289.7		155.0		2,713.5
Change in intercompany receivables/payables		928.6		(367.5)		(2,007.2)		(928.6)		367.5		2,007.2
Proceeds from long-term borrowings		6.2		60.7		282.9		5,704.8		8,171.3		4,451.1
Payments of long-term borrowings		(214.2)		(819.1)		(191.0)		(4,649.0)		(4,390.0)		(4,767.4)
Proceeds from issuance of common stock		172.1		149.5		174.5
Repurchases of common stock		(2,770.7)		(2,731.1)		(1,531.4)
Capital investment from Equipment Operations								27.4		66.8		121.6
Dividends paid		(816.3)		(786.0)		(752.9)		(679.6)		(150.0)		(186.0)
Excess tax benefits from share-based compensation		18.5		30.8		50.7
Other		(45.4)		(27.7)		(40.1)		(26.7)		(35.9)		(19.2)
Net cash provided by (used for) financing activities		(2,509.3)		(4,556.2)		(3,978.5)		(262.0)		4,184.7		4,320.8

Effect of Exchange Rate Changes on Cash and Cash Equivalents		(146.6)		(61.3)		(5.4)		(40.7)		(12.3)		17.1
Net Increase (Decrease) in Cash and Cash Equivalents		330.8		(454.1)		(884.6)		44.4		737.0		(263.5)
Cash and Cash Equivalents at Beginning of Year		2,569.2		3,023.3		3,907.9		1,217.8		480.8		744.3
Cash and Cash Equivalents at End of Year	$	2,900.0	$	2,569.2	$	3,023.3	$	1,262.2	$	1,217.8	$	480.8

*Deere & Company with Financial Services on the equity basis.

The supplemental consolidating data is presented for informational purposes. The “Equipment Operations” reflect the basis of consolidation described in Note 1 to the consolidated financial statements. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.