(20) SUPPLEMENTAL CONSOLIDATING DATA
STATEMENT OF INCOME
For the Three Months Ended April 30, 2015 and 2014

(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2015		2014		2015		2014
Net Sales and Revenues
Net sales	$	7,398.5	$	9,246.2
Finance and interest income	17.5		18.6		$	623.6	$	591.8
Other income	150.3		149.9		85.3		38.5
Total	7,566.3		9,414.7		708.9		630.3

Costs and Expenses
Cost of sales	5,694.7		6,872.0
Research and development expenses	341.1		354.1
Selling, administrative and general expenses	620.4		719.2		121.8		129.5
Interest expense	67.3		80.1		109.5		97.9
Interest compensation to Financial Services	53.4		54.8
Other operating expenses	37.2		99.3		212.8		174.3
Total	6,814.1		8,179.5		444.1		401.7

Income of Consolidated Group before Income Taxes	752.2		1,235.2		264.8		228.6
Provision for income taxes	228.6		397.6		95.4		81.4
Income of Consolidated Group	523.6		837.6		169.4		147.2

Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Financial Services	169.8		147.7		.4		.5
Other	(2.6)		(4.1)
Total	167.2		143.6		.4		.5
Net Income	690.8		981.2		169.8		147.7
Less: Net income attributable to noncontrolling interests	.3		.5
Net Income Attributable to Deere & Company	$	690.5	$	980.7	$	169.8	$	147.7

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

The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.

SUPPLEMENTAL CONSOLIDATING DATA (Continued)
STATEMENT OF INCOME
For the Six Months Ended April 30, 2015 and 2014

(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2015		2014		2015		2014
Net Sales and Revenues
Net sales	$	13,003.6	$	16,194.8
Finance and interest income	38.0		35.8		$	1,256.6	$	1,161.0
Other income	310.4		300.3		150.2		102.9
Total	13,352.0		16,530.9		1,406.8		1,263.9

Costs and Expenses
Cost of sales	10,115.8		12,067.9
Research and development expenses	674.3		677.8
Selling, administrative and general expenses	1,160.6		1,362.3		243.0		255.4
Interest expense	138.4		155.4		232.4		205.7
Interest compensation to Financial Services	99.4		97.1
Other operating expenses	76.2		151.9		434.0		392.6
Total	12,264.7		14,512.4		909.4		853.7

Income of Consolidated Group before Income Taxes	1,087.3		2,018.5		497.4		410.2
Provision for income taxes	323.0		638.0		171.6		121.6
Income of Consolidated Group	764.3		1,380.5		325.8		288.6

Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Financial Services	326.6		289.9		.8		1.3
Other	(13.2)		(7.9)
Total	313.4		282.0		.8		1.3
Net Income	1,077.7		1,662.5		326.6		289.9
Less: Net income attributable to noncontrolling interests	.5		.7
Net Income Attributable to Deere & Company	$	1,077.2	$	1,661.8	$	326.6	$	289.9

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

SUPPLEMENTAL CONSOLIDATING DATA (Continued)

CONDENSED BALANCE SHEET (In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*						FINANCIAL SERVICES
	April 30 2015		October 31 2014		April 30 2014		April 30 2015		October 31 2014		April 30 2014

Assets

Cash and cash equivalents	$	3,162.9	$	2,569.2	$	1,874.9	$	1,192.5	$	1,217.8	$	1,203.6
Marketable securities			700.4		1,105.6		392.9		514.7		466.1
Receivables from unconsolidated subsidiaries and affiliates	2,558.0		3,663.9		4,046.7
Trade accounts and notes receivable - net	681.3		706.0		969.9		5,160.8		3,554.4		5,264.6
Financing receivables - net	8.7		18.5		13.5		24,737.1		27,403.7		25,482.6
Financing receivables securitized - net							4,741.1		4,602.3		4,345.4
Other receivables	780.7		848.0		924.9		122.5		659.0		301.1
Equipment on operating leases - net							4,195.2		4,015.5		3,203.8
Inventories	4,624.2		4,209.7		5,849.6
Property and equipment - net	5,191.7		5,522.5		5,316.8		53.4		55.3		56.3
Investments in unconsolidated subsidiaries and affiliates	4,895.5		5,106.5		4,875.6		10.5		10.9		11.5
Goodwill	737.0		791.2		839.6
Other intangible assets - net	60.4		64.8		67.3				4.0		4.0
Retirement benefits	314.3		263.5		546.9		29.0		32.9		35.5
Deferred income taxes	2,991.2		2,981.9		2,683.4		62.9		64.9		68.8
Other assets	889.9		850.6		667.7		700.2		648.2		583.6
Assets held for sale					84.7
Total Assets	$	26,895.8	$	28,296.7	$	29,867.1	$	41,398.1	$	42,783.6	$	41,026.9

Liabilities and Stockholders’ Equity
Short-term borrowings	$	549.6	$	434.1	$	1,020.5	$	8,439.4	$	7,585.1	$	7,742.5
Short-term securitization borrowings							4,702.7		4,558.5		4,329.5
Payables to unconsolidated subsidiaries and affiliates	130.1		101.0		134.5		2,511.6		3,633.7		4,008.4
Accounts payable and accrued expenses	6,964.0		7,518.4		7,728.4		1,453.5		2,027.0		1,570.6
Deferred income taxes	79.3		87.1		88.0		464.8		344.1		368.1
Long-term borrowings	4,488.9		4,642.5		4,816.7		19,133.9		19,738.2		18,350.2
Retirement benefits and other liabilities	6,507.9		6,448.1		5,361.6		85.5		82.8		79.0
Liabilities held for sale					49.8
Total liabilities	18,719.8		19,231.2		19,199.5		36,791.4		37,969.4		36,448.3

Commitments and contingencies (Note 14)

Common stock, $1 par value (issued shares at April 30, 2015 – 536,431,204)	3,745.2		3,675.4		3,621.6		2,051.3		2,023.1		1,999.4
Common stock in treasury	(13,951.2)		(12,834.2)		(11,224.1)
Retained earnings	22,673.4		22,004.4		20,931.3		2,718.8		2,811.8		2,537.2
Accumulated other comprehensive income (loss)	(4,293.6)		(3,783.0)		(2,663.5)		(163.4)		(20.7)		42.0
Total Deere & Company stockholders’ equity	8,173.8		9,062.6		10,665.3		4,606.7		4,814.2		4,578.6
Noncontrolling interests	2.2		2.9		2.3
Total stockholders’ equity	8,176.0		9,065.5		10,667.6		4,606.7		4,814.2		4,578.6
Total Liabilities and Stockholders’ Equity	$	26,895.8	$	28,296.7	$	29,867.1	$	41,398.1	$	42,783.6	$	41,026.9

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

SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENT OF CASH FLOWS For the Six Months Ended April 30, 2015 and 2014
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2015		2014		2015		2014
Cash Flows from Operating Activities
Net income	$	1,077.7	$	1,662.5	$	326.6	$	289.9
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	.3		1.9		14.8		7.9
Provision for depreciation and amortization	409.8		397.7		328.4		271.2
Impairment charges			62.3
Undistributed earnings of unconsolidated subsidiaries and affiliates	102.6		(190.8)		(.8)		(1.3		)
Provision (credit) for deferred income taxes	(3.0)		(117.8)		120.8		(20.3		)
Changes in assets and liabilities:
Trade receivables	(33.2)		(3.9)
Insurance receivables					333.4		175.4
Inventories	(656.8)		(995.9)
Accounts payable and accrued expenses	(219.2)		(123.3)		(336.8)		(200.0		)
Accrued income taxes payable/receivable	(82.1)		77.5		5.8		9.3
Retirement benefits	179.3		130.5		7.3		7.5
Other	75.8		126.3		(42.7)		3.8
Net cash provided by operating activities	851.2		1,027.0		756.8		543.4

Cash Flows from Investing Activities
Collections of receivables (excluding trade and wholesale)					8,998.2		9,006.6
Proceeds from maturities and sales of marketable securities	700.0		600.0		91.9		11.3
Proceeds from sales of equipment on operating leases					552.3		570.9
Proceeds from sales of businesses, net of cash sold			307.2		148.8
Cost of receivables acquired (excluding trade and wholesale)					(7,977.1)		(9,120.5		)
Purchases of marketable securities			(504.0)		(33.9)		(58.8		)
Purchases of property and equipment	(323.2)		(425.2)		(1.1)		(1.0		)
Cost of equipment on operating leases acquired					(1,203.4)		(986.0		)
Increase in trade and wholesale receivables					(1,084.7)		(1,895.1		)
Other	(51.1)		(89.2)		(36.0)		(39.1		)
Net cash provided by (used for) investing activities	325.7		(111.2)		(545.0)		(2,511.7		)

Cash Flows from Financing Activities
Increase in total short-term borrowings	84.6		641.6		1,062.4		315.1
Change in intercompany receivables/payables	960.7		(612.0)		(960.7)		612.0
Proceeds from long-term borrowings	7.0		6.6		2,505.2		4,247.2
Payments of long-term borrowings	(39.8)		(737.3)		(2,413.5)		(2,398.1		)
Proceeds from issuance of common stock	86.1		108.7
Repurchases of common stock	(1,173.9)		(1,093.4)
Dividends paid	(415.8)		(382.3)		(419.6)		(90.0		)
Excess tax benefits from share-based compensation	11.7		24.2
Other	(24.1)		(11.0)		13.2		21.1
Net cash provided by (used for) financing activities	(503.5)		(2,054.9)		(213.0)		2,707.3

Effect of Exchange Rate Changes on Cash and Cash Equivalents	(79.7)		(9.3)		(24.1)		(16.2		)

Net Increase (Decrease) in Cash and Cash Equivalents	593.7		(1,148.4)		(25.3)		722.8
Cash and Cash Equivalents at Beginning of Period	2,569.2		3,023.3		1,217.8		480.8
Cash and Cash Equivalents at End of Period	$	3,162.9	$	1,874.9	$	1,192.5	$	1,203.6


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

The supplemental consolidating data is presented for informational purposes. Transactions between the “Equipment Operations” and “Financial Services” have been eliminated to arrive at the consolidated financial statements.