
(20) SUPPLEMENTAL CONSOLIDATING DATA
STATEMENT OF INCOME
For the Three Months Ended January 29, 2017 and January 31, 2016
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2017		2016		2017		2016
Net Sales and Revenues
Net sales	$	4,697.8	$	4,769.2
Finance and interest income		21.3		17.8	$	687.3	$	635.0
Other income		258.1		140.2		58.3		48.1
Total		4,977.2		4,927.2		745.6		683.1

Costs and Expenses
Cost of sales		3,797.2		3,840.6
Research and development expenses		310.9		319.3
Selling, administrative and general expenses		539.0		481.0		121.8		114.0
Interest expense		66.7		62.1		148.8		120.0
Interest compensation to Financial Services		45.7		44.8
Other operating expenses		57.9		21.2		306.8		256.1
Total		4,817.4		4,769.0		577.4		490.1

Income of Consolidated Group before Income Taxes		159.8		158.2		168.2		193.0
Provision for income taxes		80.1		31.1		54.3		64.4
Income of Consolidated Group		79.7		127.1		113.9		128.6

Equity in Income (Loss) of Unconsolidated Subsidiaries and Affiliates
Financial Services		114.4		129.4		.5		.8
Other		(.9)		(2.7)
Total		113.5		126.7		.5		.8
Net Income		193.2		253.8		114.4		129.4
Less: Net loss attributable to noncontrolling interests		(.6)		(.6)
Net Income Attributable to Deere & Company	$	193.8	$	254.4	$	114.4	$	129.4

* 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 29		October 30		January 31		January 29		October 30		January 31
	2017		2016		2016		2017		2016		2016
Assets
Cash and cash equivalents	$	2,667.9	$	3,140.5	$	2,308.2	$	1,222.1	$	1,195.3	$	1,151.7
Marketable securities		29.1		34.2		76.3		416.4		419.3		400.0
Receivables from unconsolidated subsidiaries and affiliates		2,855.8		3,150.1		1,417.9
Trade accounts and notes receivable – net		537.4		654.2		417.6		3,787.5		3,370.5		4,032.8
Financing receivables – net		.7		.4		.9		23,030.2		23,701.9		23,629.5
Financing receivables securitized – net								4,250.4		5,126.5		4,003.2
Other receivables		773.1		855.4		1,005.8		116.2		164.0		105.0
Equipment on operating leases – net								5,825.3		5,901.5		5,074.4
Inventories		3,959.6		3,340.5		4,249.5
Property and equipment – net		4,979.3		5,118.5		4,985.3		51.1		52.1		53.9
Investments in unconsolidated subsidiaries and affiliates		4,658.6		4,697.0		4,621.2		12.2		11.9		11.3
Goodwill		809.2		815.7		718.7
Other intangible assets – net		95.5		104.1		59.6
Retirement benefits		133.7		93.6		249.3		19.8		20.5		24.0
Deferred income taxes		3,573.0		3,556.0		3,018.5		72.1		75.5		67.4
Other assets		847.0		834.9		855.2		654.5		798.1		814.9
Total Assets	$	25,919.9	$	26,395.1	$	23,984.0	$	39,457.8	$	40,837.1	$	39,368.1

Liabilities and Stockholders’ Equity

Liabilities
Short-term borrowings	$	269.7	$	249.0	$	249.0	$	7,171.9	$	6,661.7	$	7,575.7
Short-term securitization borrowings								4,220.2		4,997.8		3,874.9
Payables to unconsolidated subsidiaries and affiliates		94.7		81.5		79.6		2,826.9		3,133.6		1,395.0
Accounts payable and accrued expenses		5,885.0		6,661.2		5,775.9		1,552.4		1,595.2		1,483.7
Deferred income taxes		87.4		87.3		78.2		763.2		745.9		640.7
Long-term borrowings		4,533.8		4,565.3		4,496.4		18,382.8		19,137.7		19,978.0
Retirement benefits and other liabilities		8,199.6		8,206.0		6,701.1		90.6		89.0		87.1
Total liabilities		19,070.2		19,850.3		17,380.2		35,008.0		36,360.9		35,035.1

Commitments and contingencies (Note 14)
Redeemable noncontrolling interest		14.0		14.0

Stockholders’ Equity
Common stock, $1 par value (issued shares at January 29, 2017 – 536,431,204)		4,084.8		3,911.8		3,843.1		2,079.1		2,079.1		2,064.7
Common stock in treasury		(15,569.1)		(15,677.1)		(15,601.9)
Retained earnings		23,914.3		23,911.3		23,209.1		2,644.6		2,670.3		2,617.1
Accumulated other comprehensive income (loss)		(5,604.5)		(5,626.0)		(4,860.1)		(273.9)		(273.2)		(348.8)
Total Deere & Company stockholders' equity		6,825.5		6,520.0		6,590.2		4,449.8		4,476.2		4,333.0
Noncontrolling interests		10.2		10.8		13.6
Total stockholders’ equity		6,835.7		6,530.8		6,603.8		4,449.8		4,476.2		4,333.0
Total Liabilities and Stockholders’ Equity	$	25,919.9	$	26,395.1	$	23,984.0	$	39,457.8	$	40,837.1	$	39,368.1

* 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 29, 2017 and January 31, 2016
(In millions of dollars) Unaudited	EQUIPMENT OPERATIONS*				FINANCIAL SERVICES
	2017		2016		2017		2016
Cash Flows from Operating Activities
Net income	$	193.2	$	253.8	$	114.4	$	129.4
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Provision (credit) for credit losses		(.2)		2.0		6.7		7.4
Provision for depreciation and amortization		212.3		203.7		233.3		194.2
Impairment charges								12.6
Undistributed earnings of unconsolidated subsidiaries and affiliates		25.1		147.9		(.5)		(.8)
Provision (credit) for deferred income taxes		(16.7)		65.6		22.7		174.8
Changes in assets and liabilities:
Trade receivables		102.1		41.6
Inventories		(624.6)		(450.1)
Accounts payable and accrued expenses		(618.5)		(834.3)		(23.9)		21.2
Accrued income taxes payable/receivable		6.3		(231.6)		9.2		(9.9)
Retirement benefits		44.2		20.8		2.3		2.0
Other		(74.7)		(46.8)		60.5		4.7
Net cash provided by (used for) operating activities		(751.5)		(827.4)		424.7		535.6

Cash Flows from Investing Activities
Collections of receivables (excluding trade and wholesale)						5,132.5		4,925.3
Proceeds from maturities and sales of marketable securities		6.2		2.4		17.5		16.3
Proceeds from sales of equipment on operating leases						368.2		290.8
Proceeds from sales of businesses and unconsolidated affiliates, net of cash sold		113.9
Cost of receivables acquired (excluding trade and wholesale)						(3,864.2)		(3,496.0)
Purchases of marketable securities				(46.0)		(21.7)		(25.7)
Purchases of property and equipment		(154.9)		(139.5)		(.3)		(.5)
Cost of equipment on operating leases acquired						(542.8)		(726.1)
Increase in trade and wholesale receivables						(213.5)		(163.1)
Other		(5.7)		(40.2)		(6.4)		31.3
Net cash provided by (used for) investing activities		(40.5)		(223.3)		869.3		852.3

Cash Flows from Financing Activities
Decrease in total short-term borrowings		(14.5)		(216.3)		(1,050.4)		(858.6)
Change in intercompany receivables/payables		316.9		935.2		(316.9)		(935.2)
Proceeds from long-term borrowings		19.2		79.5		1,276.6		1,752.5
Payments of long-term borrowings		(18.3)		(.1)		(1,030.6)		(1,181.2)
Proceeds from issuance of common stock		263.3		2.7
Repurchases of common stock		(6.2)		(107.8)
Dividends paid		(188.9)		(193.1)		(140.0)		(277.1)
Excess tax benefits from share-based compensation		5.7		1.0
Other		(19.1)		(13.7)		(5.3)		6.1
Net cash provided by (used for) financing activities		358.1		487.4		(1,266.6)		(1,493.5)

Effect of Exchange Rate Changes on Cash and Cash Equivalents		(38.7)		(28.5)		(.6)		(4.9)

Net Increase (Decrease) in Cash and Cash Equivalents		(472.6)		(591.8)		26.8		(110.5)
Cash and Cash Equivalents at Beginning of Period		3,140.5		2,900.0		1,195.3		1,262.2
Cash and Cash Equivalents at End of Period	$	2,667.9	$	2,308.2	$	1,222.1	$	1,151.7

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