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CAPITAL STOCK
12 Months Ended
Oct. 31, 2013
CAPITAL STOCK  
CAPITAL STOCK

23. CAPITAL STOCK

 

Changes in the common stock account in millions were as follows:

 

 

 

 

 

 

 

 

 

Number of
Shares Issued

 

Amount

 

 

 

 

 

 

 

Balance at October 31, 2010

 

536.4

 

$

3,106

 

Stock options and other

 

 

 

146

 

 

 

 

 

 

 

Balance at October 31, 2011

 

536.4

 

3,252

 

Stock options and other

 

 

 

100

 

 

 

 

 

 

 

Balance at October 31, 2012

 

536.4

 

3,352

 

Stock options and other

 

 

 

172

 

 

 

 

 

 

 

Balance at October 31, 2013

 

536.4

 

$

3,524

 

 

 

 

 

 

 

 

 

The number of common shares the company is authorized to issue is 1,200 million. The number of authorized preferred shares, none of which has been issued, is nine million.

 

The Board of Directors at its meeting in May 2008 authorized the repurchase of up to $5,000 million of additional common stock (61.1 million shares based on the October 31, 2013 closing common stock price of $81.84 per share). At October 31, 2013, this repurchase program had $957 million (11.7 million shares at the same price) remaining to be repurchased. Repurchases of the company’s common stock under this plan will be made from time to time, at the company’s discretion, in the open market.

 

A reconciliation of basic and diluted net income per share attributable to Deere & Company follows in millions, except per share amounts:

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

Net income attributable to Deere & Company

 

$

3,537.3

 

$

3,064.7

 

$

2,799.9

 

Less income allocable to participating securities

 

.9

 

.8

 

1.0

 

 

 

 

 

 

 

 

 

Income allocable to common stock

 

$

3,536.4

 

$

3,063.9

 

$

2,798.9

 

 

 

 

 

 

 

 

 

Average shares outstanding

 

385.3

 

397.1

 

417.4

 

 

 

 

 

 

 

 

 

Basic per share

 

$

9.18

 

$

7.72

 

$

6.71

 

 

 

 

 

 

 

 

 

Average shares outstanding

 

385.3

 

397.1

 

417.4

 

Effect of dilutive stock options

 

3.9

 

4.4

 

5.0

 

 

 

 

 

 

 

 

 

Total potential shares outstanding

 

389.2

 

401.5

 

422.4

 

 

 

 

 

 

 

 

 

Diluted per share

 

$

9.09

 

$

7.63

 

$

6.63

 

 

 

 

 

 

 

 

 

 

 

All stock options outstanding were included in the computation during 2013, 2012 and 2011, except 2.4 million options in 2013, 1.8 million in 2012 and none in 2011 that had an antidilutive effect under the treasury stock method.