SUBSEQUENT EVENTS

12 Months Ended

Oct. 31, 2014

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

30. SUBSEQUENT EVENTS

A quarterly dividend of $.60 per share was declared at the Board of Directors meeting on December 3, 2014, payable on February 2, 2015 to stockholders of record on December 31, 2014.

In December 2014, the company’s financial services operations issued Australian dollar denominated medium-term notes of $227 million due in December 2019.

In December 2014, the company entered into an agreement to sell all of the stock of its wholly-owned subsidiaries, John Deere Insurance Company and John Deere Risk Protection, Inc. (collectively, the Crop Insurance operations) to Farmers Mutual Hail Insurance Company of Iowa. The Crop Insurance operations provide crop risk mitigation products and are included in the financial services operating segment. The company is projecting to close the sale by March 2015. As of October 31, 2014, the Crop Insurance operations had total assets of approximately $725 million consisting primarily of accounts receivable and marketable securities.  The Crop Insurance operations also had total liabilities of approximately $605 million, consisting primarily of accounts payable and accrued expenses, and policy claims and reserves. The planned sale is a result of the company's intention to invest its resources in growing its core businesses. The company does not anticipate a significant pretax or after-tax gain or loss resulting from the probable sale.