
(20) SUPPLEMENTAL CONSOLIDATING DATA
STATEMENT OF INCOME
For the Three Months Ended January 31, 2016 and 2015
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2016		2015		2016		2015
Net Sales and Revenues
Net sales	$	4,769.2	$	5,605.1
Finance and interest income		17.8		20.5	$	635.0	$	633.0
Other income		140.2		160.0		48.1		64.9
Total		4,927.2		5,785.6		683.1		697.9

Costs and Expenses
Cost of sales		3,840.6		4,421.1
Research and development expenses		319.3		333.2
Selling, administrative and general expenses		481.0		540.2		114.0		121.2
Interest expense		62.1		71.0		120.0		122.9
Interest compensation to Financial Services		44.8		46.0
Other operating expenses		21.2		39.1		256.1		221.2
Total		4,769.0		5,450.6		490.1		465.3

Income of Consolidated Group before Income Taxes		158.2		335.0		193.0		232.6
Provision for income taxes		31.1		94.3		64.4		76.2
Income of Consolidated Group		127.1		240.7		128.6		156.4

Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Financial Services		129.4		156.8		.8		.4
Other		(2.7)		(10.6)
Total		126.7		146.2		.8		.4
Net Income		253.8		386.9		129.4		156.8
Less: Net income (loss) attributable to noncontrolling interests		(.6)		.1
Net Income Attributable to Deere & Company	$	254.4	$	386.8	$	129.4	$	156.8

* 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.


SUPPLEMENTAL CONSOLIDATING DATA (Continued)
CONDENSED BALANCE SHEET
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*						FINANCIAL SERVICES
	January 31		October 31		January 31		January 31		October 31		January 31
	2016		2015		2015		2016		2015		2015
Assets
Cash and cash equivalents	$	2,308.2	$	2,900.0	$	2,844.4	$	1,151.7	$	1,262.2	$	1,130.4
Marketable securities		76.3		47.7		100.0		400.0		389.7		393.8
Receivables from unconsolidated subsidiaries and affiliates		1,417.9		2,428.7		2,592.9
Trade accounts and notes receivable - net		417.6		485.2		547.5		4,032.8		3,553.1		3,847.2
Financing receivables - net		.9		.9		8.7		23,629.5		24,808.1		25,797.2
Financing receivables securitized - net								4,003.2		4,834.6		3,893.3
Other receivables		1,005.8		849.5		863.9		105.0		152.9		82.6
Equipment on operating leases - net								5,074.4		4,970.4		3,834.6
Inventories		4,249.5		3,817.0		4,527.1
Property and equipment - net		4,985.3		5,126.2		5,293.4		53.9		55.3		54.1
Investments in unconsolidated subsidiaries and affiliates		4,621.2		4,817.6		4,997.0		11.3		10.5		10.2
Goodwill		718.7		726.0		741.3
Other intangible assets - net		59.6		63.6		62.3
Retirement benefits		249.3		211.9		283.8		24.0		25.0		30.9
Deferred income taxes		3,018.5		3,092.0		2,923.2		67.4		67.9		68.7
Other assets		877.5		807.3		926.8		856.8		779.1		847.7
Assets held for sale												384.9
Total Assets	$	24,006.3	$	25,373.6	$	26,712.3	$	39,410.0	$	40,908.8	$	40,375.6

Liabilities and Stockholders’ Equity
Short-term borrowings	$	249.0	$	464.3	$	1,079.2	$	7,577.1	$	7,962.3	$	7,543.5
Short-term securitization borrowings								3,878.9		4,590.0		3,887.9
Payables to unconsolidated subsidiaries and affiliates		79.6		80.6		119.2		1,395.0		2,395.4		2,565.6
Accounts payable and accrued expenses		5,775.9		6,801.2		6,146.2		1,483.7		1,511.2		1,363.2
Deferred income taxes		78.2		86.8		79.7		640.7		466.6		474.9
Long-term borrowings		4,518.7		4,460.6		4,622.0		20,014.5		19,372.2		19,484.7
Retirement benefits and other liabilities		6,701.1		6,722.5		6,417.2		87.1		86.4		83.4
Liabilities held for sale												266.8
Total liabilities		17,402.5		18,616.0		18,463.5		35,077.0		36,384.1		35,670.0

Commitments and contingencies (Note 14)

Common stock, $1 par value (issued shares at January 31, 2016 – 536,431,204)		3,843.1		3,825.6		3,714.0		2,064.7		2,050.8		2,030.8
Common stock in treasury		(15,601.9)		(15,497.6)		(13,408.2)
Retained earnings		23,209.1		23,144.8		22,185.2		2,617.1		2,764.8		2,816.8
Accumulated other comprehensive income (loss)		(4,860.1)		(4,729.4)		(4,245.0)		(348.8)		(290.9)		(142.0)
Total Deere & Company stockholders' equity		6,590.2		6,743.4		8,246.0		4,333.0		4,524.7		4,705.6
Noncontrolling interests		13.6		14.2		2.8
Total stockholders’ equity		6,603.8		6,757.6		8,248.8		4,333.0		4,524.7		4,705.6
Total Liabilities and Stockholders’ Equity	$	24,006.3	$	25,373.6	$	26,712.3	$	39,410.0	$	40,908.8	$	40,375.6

* 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 Three Months Ended January 31, 2016 and 2015
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2016		2015		2016		2015
Cash Flows from Operating Activities
Net income	$	253.8	$	386.9	$	129.4	$	156.8
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision (credit) for credit losses		2.0		(.4)		7.4		1.4
Provision for depreciation and amortization		203.7		209.8		194.2		161.2
Impairment charges						12.6
Undistributed earnings of unconsolidated subsidiaries and affiliates		147.9		5.3		(.8)		(.4)
Provision for deferred income taxes		65.6		55.8		174.8		120.3
Changes in assets and liabilities:
Trade receivables		41.6		109.2
Insurance receivables								256.5
Inventories		(450.1)		(508.1)
Accounts payable and accrued expenses		(834.3)		(1,082.2)		21.2		(282.9)
Accrued income taxes payable/receivable		(231.6)		(182.7)		(9.9)		(2.8)
Retirement benefits		20.8		80.8		2.0		3.6
Other		(46.8)		108.5		4.7		11.8
Net cash provided by (used for) operating activities		(827.4)		(817.1)		535.6		425.5

Cash Flows from Investing Activities
Collections of receivables (excluding trade and wholesale)						4,925.3		5,038.2
Proceeds from maturities and sales of marketable securities		2.4		600.0		16.3		73.4
Proceeds from sales of equipment on operating leases						290.8		242.1
Cost of receivables acquired (excluding trade and wholesale)						(3,496.0)		(3,936.7)
Purchases of marketable securities		(46.0)				(25.7)		(19.3)
Purchases of property and equipment		(139.5)		(183.6)		(.5)		(.4)
Cost of equipment on operating leases acquired						(726.1)		(429.2)
Decrease (increase) in trade and wholesale receivables						(163.1)		80.9
Other		(40.2)		(23.1)		31.3		(31.8)
Net cash provided by (used for) investing activities		(223.3)		393.3		852.3		1,017.2

Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings		(216.3)		707.2		(858.6)		(497.4)
Change in intercompany receivables/payables		935.2		873.6		(935.2)		(873.6)
Proceeds from long-term borrowings		79.5		1.5		1,752.5		1,226.3
Payments of long-term borrowings		(.1)		(16.2)		(1,181.2)		(1,218.1)
Proceeds from issuance of common stock		2.7		44.7
Repurchases of common stock		(107.8)		(604.7)
Dividends paid		(193.1)		(209.9)		(277.1)		(151.6)
Excess tax benefits from share-based compensation		1.0		6.3
Other		(13.7)		(16.6)		6.1		2.1
Net cash provided by (used for) financing activities		487.4		785.9		(1,493.5)		(1,512.3)

Effect of Exchange Rate Changes on Cash and Cash Equivalents		(28.5)		(86.9)		(4.9)		(17.8)

Net Increase (Decrease) in Cash and Cash Equivalents		(591.8)		275.2		(110.5)		(87.4)
Cash and Cash Equivalents at Beginning of Period		2,900.0		2,569.2		1,262.2		1,217.8
Cash and Cash Equivalents at End of Period	$	2,308.2	$	2,844.4	$	1,151.7	$	1,130.4

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