SUPPLEMENTAL CONSOLIDATING DATA

9 Months Ended

Jul. 31, 2015

SUPPLEMENTAL CONSOLIDATING DATA

SUPPLEMENTAL CONSOLIDATING DATA

(20) SUPPLEMENTAL CONSOLIDATING DATA
STATEMENT OF INCOME
For the Three Months Ended July 31, 2015 and 2014
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2015		2014		2015		2014
Net Sales and Revenues
Net sales	$	6,839.5	$	8,723.0
Finance and interest income		20.8		14.2	$	644.3	$	634.2
Other income		140.8		147.2		51.2		85.6
Total		7,001.1		8,884.4		695.5		719.8
Costs and Expenses
Cost of sales		5,358.4		6,611.6
Research and development expenses		346.8		362.1
Selling, administrative and general expenses		633.5		684.5		123.9		138.8
Interest expense		69.6		61.1		113.6		107.3
Interest compensation to Financial Services		56.7		60.4
Other operating expenses		36.3		60.9		219.3		225.3
Total		6,501.3		7,840.6		456.8		471.4
Income of Consolidated Group before Income Taxes		499.8		1,043.8		238.7		248.4
Provision for income taxes		155.5		363.8		85.5		86.4
Income of Consolidated Group		344.3		680.0		153.2		162.0
Equity in Income of Unconsolidated Subsidiaries and Affiliates
Financial Services		153.4		162.3		.2		.3
Other		14.0		8.6
Total		167.4		170.9		.2		.3
Net Income		511.7		850.9		153.4		162.3
Less:  Net income attributable to noncontrolling interests		.1		.2
Net Income Attributable to Deere & Company	$	511.6	$	850.7	$	153.4	$	162.3

* 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 Nine Months Ended July 31, 2015 and 2014
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2015		2014		2015		2014
Net Sales and Revenues
Net sales	$	19,843.1	$	24,917.8
Finance and interest income		58.8		50.0	$	1,900.9	$	1,795.2
Other income		451.2		447.6		201.4		188.6
Total		20,353.1		25,415.4		2,102.3		1,983.8
Costs and Expenses
Cost of sales		15,474.2		18,679.5
Research and development expenses		1,021.1		1,039.9
Selling, administrative and general expenses		1,794.1		2,046.9		366.9		394.2
Interest expense		208.0		216.5		346.0		313.0
Interest compensation to Financial Services		156.0		157.4
Other operating expenses		112.6		212.8		653.3		618.0
Total		18,766.0		22,353.0		1,366.2		1,325.2
Income of Consolidated Group before Income Taxes		1,587.1		3,062.4		736.1		658.6
Provision for income taxes		478.5		1,001.7		257.1		208.0
Income of Consolidated Group		1,108.6		2,060.7		479.0		450.6
Equity in Income of Unconsolidated Subsidiaries and Affiliates
Financial Services		480.0		452.2		1.0		1.6
Other		.8		.6
Total		480.8		452.8		1.0		1.6
Net Income		1,589.4		2,513.5		480.0		452.2
Less:  Net income attributable to noncontrolling interests		.6		1.0
Net Income Attributable to Deere & Company	$	1,588.8	$	2,512.5	$	480.0	$	452.2

* 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)
CONDENSED BALANCE SHEET
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*						FINANCIAL SERVICES
	July 31		October 31		July 31		July 31		October 31		July 31
	2015		2014		2014		2015		2014		2014
Assets
Cash and cash equivalents	$	2,907.1	$	2,569.2	$	1,855.0	$	1,223.7	$	1,217.8	$	1,179.8
Marketable securities		47.4		700.4		1,002.5		373.7		514.7		486.9
Receivables from unconsolidated subsidiaries and affiliates		2,941.5		3,663.9		4,865.7
Trade accounts and notes receivable - net		581.2		706.0		819.1		4,780.9		3,554.4		4,923.0
Financing receivables - net		4.7		18.5		7.1		24,968.7		27,403.7		27,072.8
Financing receivables securitized - net								4,737.8		4,602.3		4,264.2
Other receivables		779.2		848.0		802.6		76.2		659.0		421.1
Equipment on operating leases - net								4,426.0		4,015.5		3,580.0
Inventories		4,319.0		4,209.7		5,439.0
Property and equipment - net		5,072.4		5,522.5		5,330.3		54.0		55.3		55.1
Investments in unconsolidated subsidiaries and affiliates		4,923.8		5,106.5		5,005.9		10.2		10.9		11.3
Goodwill		715.9		791.2		829.8
Other intangible assets - net		57.8		64.8		65.4				4.0		4.0
Retirement benefits		335.5		263.5		579.3		27.1		32.9		34.3
Deferred income taxes		3,028.6		2,981.9		2,778.3		61.6		64.9		70.8
Other assets		859.4		850.6		680.5		730.0		648.2		633.3
Total Assets	$	26,573.5	$	28,296.7	$	30,060.5	$	41,469.9	$	42,783.6	$	42,736.6
Liabilities and Stockholders’ Equity
Short-term borrowings	$	650.8	$	434.1	$	1,042.6	$	8,697.1	$	7,585.1	$	7,538.2
Short-term securitization borrowings								4,595.4		4,558.5		4,142.8
Payables to unconsolidated subsidiaries and affiliates		73.7		101.0		90.9		2,898.3		3,633.7		4,831.9
Accounts payable and accrued expenses		7,025.1		7,518.4		7,938.3		1,387.3		2,027.0		1,716.9
Deferred income taxes		79.9		87.1		84.4		456.2		344.1		360.8
Long-term borrowings		4,475.4		4,642.5		4,678.7		18,725.5		19,738.2		19,356.7
Retirement benefits and other liabilities		6,543.6		6,448.1		5,393.1		86.7		82.8		82.3
Total liabilities		18,848.5		19,231.2		19,228.0		36,846.5		37,969.4		38,029.6
Commitments and contingencies (Note 14)
Common stock, $1 par value (issued shares at July 31, 2015 – 536,431,204)		3,806.5		3,675.4		3,652.8		2,051.3		2,023.1		2,010.5
Common stock in treasury		(14,562.5)		(12,834.2)		(11,742.7)
Retained earnings		22,986.5		22,004.4		21,564.6		2,812.2		2,811.8		2,639.6
Accumulated other comprehensive income (loss)		(4,507.4)		(3,783.0)		(2,644.7)		(240.1)		(20.7)		56.9
Total Deere & Company stockholders' equity		7,723.1		9,062.6		10,830.0		4,623.4		4,814.2		4,707.0
Noncontrolling interests		1.9		2.9		2.5
Total stockholders’ equity		7,725.0		9,065.5		10,832.5		4,623.4		4,814.2		4,707.0
Total Liabilities and Stockholders’ Equity	$	26,573.5	$	28,296.7	$	30,060.5	$	41,469.9	$	42,783.6	$	42,736.6

* 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.

SUPPLEMENTAL CONSOLIDATING DATA (Continued)
STATEMENT OF CASH FLOWS
For the Nine Months Ended July 31, 2015 and 2014
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2015		2014		2015		2014
Cash Flows from Operating Activities
Net income	$	1,589.4	$	2,513.5	$	480.0	$	452.2
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses		2.1		3.2		33.3		26.4
Provision for depreciation and amortization		605.6		592.2		503.2		417.8
Impairment charges				62.3
Undistributed earnings of unconsolidated subsidiaries and affiliates		(4.9)		(303.2)		(.8)		(1.4)
Provision (credit) for deferred income taxes		(39.6)		(216.6)		112.6		(32.5)
Changes in assets and liabilities:
Trade receivables		37.2		151.8
Insurance receivables						333.4		35.5
Inventories		(473.2)		(604.4)
Accounts payable and accrued expenses		(113.4)		13.3		(322.3)		4.1
Accrued income taxes payable/receivable		(82.9)		181.5		24.8		25.8
Retirement benefits		282.1		203.2		11.3		11.8
Other		145.8		168.4		(25.5)		(37.0)
Net cash provided by operating activities		1,948.2		2,765.2		1,150.0		902.7
Cash Flows from Investing Activities
Collections of receivables (excluding trade and wholesale)						12,516.5		12,618.3
Proceeds from maturities and sales of marketable securities		700.1		700.1		132.9		18.6
Proceeds from sales of equipment on operating leases						773.7		803.3
Proceeds from sales of businesses, net of cash sold				339.8		149.2
Cost of receivables acquired (excluding trade and wholesale)						(12,063.2)		(13,802.5)
Purchases of marketable securities		(49.1)		(504.1)		(51.7)		(81.4)
Purchases of property and equipment		(458.1)		(639.5)		(3.3)		(1.4)
Cost of equipment on operating leases acquired						(1,988.6)		(1,723.2)
Increase in trade and wholesale receivables						(924.0)		(2,055.6)
Other		2.2		(103.0)		(22.1)		(26.7)
Net cash provided by (used for) investing activities		195.1		(206.7)		(1,480.6)		(4,250.6)
Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings		318.5		537.2		1,486.7		(613.9)
Change in intercompany receivables/payables		447.2		(1,442.7)		(447.2)		1,442.7
Proceeds from long-term borrowings		6.7		7.0		3,633.1		6,665.2
Payments of long-term borrowings		(147.1)		(757.2)		(3,833.0)		(3,322.6)
Proceeds from issuance of common stock		170.4		138.8
Repurchases of common stock		(1,833.9)		(1,631.1)
Dividends paid		(617.9)		(568.6)		(479.6)		(150.0)
Excess tax benefits from share-based compensation		18.5		28.5
Other		(38.1)		(21.4)		9.5		25.2
Net cash provided by (used for) financing activities		(1,675.7)		(3,709.5)		369.5		4,046.6
Effect of Exchange Rate Changes on Cash and Cash Equivalents		(129.7)		(17.3)		(33.0)		.3
Net Increase (Decrease) in Cash and Cash Equivalents		337.9		(1,168.3)		5.9		699.0
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	$	2,907.1	$	1,855.0	$	1,223.7	$	1,179.8

* 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.