10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DEERE & CO | |||
Ticker: DE Fiscal Year: 2020 | |||
STATEMENT OF CONSOLIDATED INCOME | |||
Period Ending Nov 1, 2020 10-K (Filed: Dec 17, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 1, 2020 | Nov 3, 2019 | Oct 28, 2018 | |
| Net Sales and Revenues | |||
| Net sales and revenues | $ 35,540 | 39,258 | 37,358 |
| Costs and Expenses | |||
| Costs and Expenses | |||
| Research and development expenses | 1,644 | 1,783 | 1,658 |
| Selling, administrative and general expenses | 3,477 | 3,551 | 3,455 |
| Interest expense | 1,247 | 1,466 | 1,204 |
| Total | 31,657 | 35,170 | 33,287 |
| Income of Consolidated Group before Income Taxes | 3,883 | 4,088 | 4,071 |
| Provision for income taxes | 1,082 | 852 | 1,727 |
| Income of Consolidated Group | 2,801 | 3,236 | 2,344 |
| Equity in income (loss) of unconsolidated affiliates | (48) | 21 | 27 |
| Net Income | 2,753 | 3,257 | 2,371 |
| Less: Net income attributable to noncontrolling interests | 2 | 4 | 3 |
| Net Income Attributable to Deere & Company | 2,751 | 3,253 | 2,368 |
| Per Share Data | |||
| Basic (in dollars per share) | 8.77 | 10.28 | 7.34 |
| Diluted (in dollars per share) | 8.69 | 10.15 | 7.24 |
| Dividends declared (in dollars per share) | 3.04 | 3.04 | 2.58 |
| Average Shares Outstanding | |||
| Basic (in shares) | 313,500 | 316,500 | 322,600 |
| Diluted (in shares) | 316,600 | 320,600 | 327,300 |
| Products and Services | |||
| Net Sales | |||
| Net sales and revenues | 31,272 | 34,886 | 33,351 |
| Costs and expenses | 23,677 | 26,792 | 25,571 |
| Finance and Interest Income | |||
| Net sales and revenues | 3,450 | 3,493 | 3,107 |
| Other | |||
| Net sales and revenues | 818 | 879 | 900 |
| Costs and expenses | 1,612 | 1,578 | 1,399 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DEERE & CO | |||
Ticker: DE Fiscal Year: 2020 | |||
STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME | |||
Period Ending Nov 1, 2020 10-K (Filed: Dec 17, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 1, 2020 | Nov 3, 2019 | Oct 28, 2018 | |
| Net income | $ 2,753 | 3,257 | 2,371 |
| Other Comprehensive Income (Loss), Net of Income Taxes | |||
| Retirement benefits adjustment | (3) | (678) | 1,052 |
| Cumulative translation adjustment | 55 | (448) | (195) |
| Unrealized gain (loss) on derivatives | 2 | (75) | 9 |
| Unrealized gain (loss) on debt securities | 14 | 29 | (13) |
| Other Comprehensive Income (Loss), Net of Income Taxes | 68 | (1,172) | 853 |
| Comprehensive Income of Consolidated Group | 2,821 | 2,085 | 3,224 |
| Less: Comprehensive income attributable to noncontrolling interests | 2 | 4 | 2 |
| Comprehensive Income Attributable to Deere & Company | 2,819 | 2,081 | 3,222 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DEERE & CO | |||
Ticker: DE Fiscal Year: 2020 | |||
STATEMENT OF CONSOLIDATED CASH FLOWS | |||
Period Ending Nov 1, 2020 10-K (Filed: Dec 17, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 1, 2020 | Nov 3, 2019 | Oct 28, 2018 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 2,753 | 3,257 | 2,371 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 110 | 43 | 90 |
| Provision for depreciation and amortization | 2,118 | 2,019 | 1,927 |
| Impairment charges | 194 | 77 | |
| Share-based compensation expense | 81 | 82 | 84 |
| (Gain) loss on sales of businesses and unconsolidated affiliates | 24 | 5 | (25) |
| Undistributed earnings of unconsolidated affiliates | (7) | 9 | (26) |
| Provision (credit) for deferred income taxes | (11) | (465) | 1,480 |
| Changes in assets and liabilities: | |||
| Trade, notes, and financing receivables related to sales | 2,009 | (869) | (1,531) |
| Inventories | 397 | (780) | (1,772) |
| Accounts payable and accrued expenses | (7) | 46 | 722 |
| Accrued income taxes payable/receivable | 8 | 173 | (466) |
| Retirement benefits | (537) | (233) | (1,026) |
| Other | 351 | 48 | (6) |
| Net cash provided by operating activities | 7,483 | 3,412 | 1,822 |
| Cash Flows from Investing Activities | |||
| Collections of receivables (excluding receivables related to sales) | 17,381 | 16,706 | 15,589 |
| Proceeds from maturities and sales of marketable securities | 93 | 89 | 76 |
| Proceeds from sales of equipment on operating leases | 1,783 | 1,648 | 1,483 |
| Proceeds from sales of businesses and unconsolidated affiliates, net of cash sold | 93 | 156 | |
| Cost of receivables acquired (excluding receivables related to sales) | (19,965) | (18,873) | (17,013) |
| Acquisitions of businesses, net of cash acquired | (66) | (5,245) | |
| Purchases of marketable securities | (130) | (140) | (133) |
| Purchases of property and equipment | (820) | (1,120) | (896) |
| Cost of equipment on operating leases acquired | (1,836) | (2,329) | (2,054) |
| Collateral on derivatives - net | 268 | 59 | (59) |
| Other | (27) | (57) | (80) |
| Net cash used for investing activities | (3,319) | (3,924) | (8,176) |
| Cash Flows from Financing Activities | |||
| Increase (decrease) in total short-term borrowings | (1,360) | (917) | 473 |
| Proceeds from long-term borrowings | 9,271 | 9,986 | 8,288 |
| Payments of long-term borrowings | (7,383) | (6,426) | (6,245) |
| Proceeds from issuance of common stock | 331 | 178 | 217 |
| Repurchases of common stock | (750) | (1,253) | (958) |
| Dividends paid | (956) | (943) | (806) |
| Other | (133) | (116) | (93) |
| Net cash provided by (used for) financing activities | (980) | 509 | 876 |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash | 32 | (56) | 26 |
| Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | 3,216 | (59) | (5,452) |
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Year | 3,956 | 4,015 | |
| Cash, Cash Equivalents, and Restricted Cash at End of Year | 7,172 | 3,956 | 4,015 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
DEERE & CO | ||
Ticker: DE Fiscal Year: 2020 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Nov 1, 2020 10-K (Filed: Dec 17, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Nov 1, 2020 | Nov 3, 2019 | |
| ASSETS | ||
| Cash and cash equivalents | $ 7,066 | 3,857 |
| Marketable securities | 641 | 581 |
| Receivables from unconsolidated affiliates | 31 | 46 |
| Trade accounts and notes receivable - net | 4,171 | 5,230 |
| Financing receivables - net | 29,750 | 29,195 |
| Financing receivables securitized - net | 4,703 | 4,383 |
| Other receivables | 1,220 | 1,487 |
| Equipment on operating leases - net | 7,298 | 7,567 |
| Inventories | 4,999 | 5,975 |
| Property and equipment - net | 5,817 | 5,973 |
| Investments in unconsolidated affiliates | 193 | 215 |
| Goodwill | 3,081 | 2,917 |
| Other intangible assets - net | 1,327 | 1,380 |
| Retirement benefits | 863 | 840 |
| Deferred income taxes | 1,499 | 1,466 |
| Other assets | 2,432 | 1,899 |
| Total Assets | 75,091 | 73,011 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| LIABILITIES | ||
| Short-term borrowings | 8,582 | 10,784 |
| Short-term securitization borrowings | 4,682 | 4,321 |
| Payables to unconsolidated affiliates | 105 | 142 |
| Accounts payable and accrued expenses | 10,112 | 9,656 |
| Deferred income taxes | 519 | 495 |
| Long-term borrowings | 32,734 | 30,229 |
| Retirement benefits and other liabilities | 5,413 | 5,953 |
| Total liabilities | 62,147 | 61,580 |
| Commitments and contingencies (Note 21) | ||
| Redeemable noncontrolling interest (Note 5) | 14 | |
| STOCKHOLDERS' EQUITY | ||
| Common stock, $1 par value (authorized - 1,200,000,000 shares; issued - 536,431,204 shares in 2020 and 2019), at paid-in amount | 4,895 | 4,642 |
| Common stock in treasury, 222,775,254 shares in 2020 and 223,290,789 shares in 2019, at cost | (18,065) | (17,474) |
| Retained earnings | 31,646 | 29,852 |
| Accumulated other comprehensive income (loss) | (5,539) | (5,607) |
| Total Deere & Company stockholders' equity | 12,937 | 11,413 |
| Noncontrolling interests | 7 | 4 |
| Total stockholders' equity | 12,944 | 11,417 |
| Total Liabilities and Stockholders' Equity | 75,091 | 73,011 |
| External Links | |
| DEERE & CO (DE) Fiscal Year 2020 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |