10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DEERE & CO | |||
Ticker: DE Fiscal Year: 2022 | |||
STATEMENTS OF CONSOLIDATED INCOME | |||
Period Ending Oct 30, 2022 10-K (Filed: Dec 15, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
| Net Sales and Revenues | |||
| Net sales and revenues | $ 52,577 | 44,024 | 35,540 |
| Cost of Sales | |||
| Costs and Expenses | |||
| Research and development expenses | 1,912 | 1,587 | 1,644 |
| Selling, administrative and general expenses | 3,863 | 3,383 | 3,477 |
| Interest expense | 1,062 | 993 | 1,247 |
| Other operating expenses | 1,275 | 1,343 | 1,612 |
| Total | 43,450 | 36,422 | 31,657 |
| Income of Consolidated Group before Income Taxes | 9,127 | 7,602 | 3,883 |
| Provision for income taxes | 2,007 | 1,658 | 1,082 |
| Income of Consolidated Group | 7,120 | 5,944 | 2,801 |
| Equity in income (loss) of unconsolidated affiliates | 10 | 21 | (48) |
| Net Income | 7,130 | 5,965 | 2,753 |
| Less: Net income (loss) attributable to noncontrolling interests | (1) | 2 | 2 |
| Net Income Attributable to Deere & Company | 7,131 | 5,963 | 2,751 |
| Per Share Data | |||
| Basic (in dollars per share) | 23.42 | 19.14 | 8.77 |
| Diluted (in dollars per share) | 23.28 | 18.99 | 8.69 |
| Dividends declared (in dollars per share) | 4.36 | 3.61 | 3.04 |
| Dividends paid (in dollars per share) | 4.28 | 3.32 | 3.04 |
| Average Shares Outstanding | |||
| Basic (in shares) | 304,500 | 311,600 | 313,500 |
| Diluted (in shares) | 306,300 | 314,000 | 316,600 |
| Products and Services | |||
| Net Sales | |||
| Net sales and revenues | 47,917 | 39,737 | 31,272 |
| Cost of sales | 35,338 | 29,116 | 23,677 |
| Finance and Interest Income | |||
| Net sales and revenues | 3,365 | 3,296 | 3,450 |
| Other income | |||
| Net sales and revenues | 1,295 | 991 | 818 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DEERE & CO | |||
Ticker: DE Fiscal Year: 2022 | |||
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME | |||
Period Ending Oct 30, 2022 10-K (Filed: Dec 15, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
| Net Income | $ 7,130 | 5,965 | 2,753 |
| Other Comprehensive Income (Loss), Net of Income Taxes | |||
| Retirement benefits adjustment | 645 | 2,884 | (3) |
| Cumulative translation adjustment | (1,116) | 118 | 55 |
| Unrealized gain on derivatives | 63 | 16 | 2 |
| Unrealized gain (loss) on debt securities | (109) | (18) | 14 |
| Other Comprehensive Income (Loss), Net of Income Taxes | (517) | 3,000 | 68 |
| Comprehensive Income of Consolidated Group | 6,613 | 8,965 | 2,821 |
| Less: Comprehensive income (loss) attributable to noncontrolling interests | (16) | 2 | 2 |
| Comprehensive Income Attributable to Deere & Company | 6,629 | 8,963 | 2,819 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DEERE & CO | |||
Ticker: DE Fiscal Year: 2022 | |||
STATEMENTS OF CONSOLIDATED CASH FLOWS | |||
Period Ending Oct 30, 2022 10-K (Filed: Dec 15, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 7,130 | 5,965 | 2,753 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision (credit) for credit losses | 192 | (6) | 110 |
| Provision for depreciation and amortization | 1,895 | 2,050 | 2,118 |
| Impairment charges | 88 | 50 | 194 |
| Share-based compensation expense | 85 | 82 | 81 |
| Loss on sales of businesses and unconsolidated affiliates | 24 | ||
| Gain on remeasurement of previously held equity investment | (326) | ||
| Credit for deferred income taxes | (66) | (441) | (11) |
| Changes in assets and liabilities: | |||
| Trade, notes, and financing receivables related to sales | (2,483) | 969 | 2,009 |
| Inventories | (2,091) | (2,497) | 397 |
| Accounts payable and accrued expenses | 1,133 | 1,884 | (7) |
| Accrued income taxes payable/receivable | 141 | 11 | 8 |
| Retirement benefits | (1,015) | 29 | (537) |
| Other | 16 | (370) | 344 |
| Net cash provided by operating activities | 4,699 | 7,726 | 7,483 |
| Cash Flows from Investing Activities | |||
| Collections of receivables (excluding receivables related to sales) | 20,907 | 18,959 | 17,381 |
| Proceeds from sales of equipment on operating leases | 2,093 | 2,094 | 1,783 |
| Cost of receivables acquired (excluding receivables related to sales) | (26,300) | (23,653) | (19,965) |
| Acquisitions of businesses, net of cash acquired | (498) | (244) | (66) |
| Purchases of property and equipment | (1,134) | (848) | (820) |
| Cost of equipment on operating leases acquired | (2,654) | (1,732) | (1,836) |
| Collateral on derivatives - net | (642) | (281) | 268 |
| Other | (257) | (45) | (64) |
| Net cash used for investing activities | (8,485) | (5,750) | (3,319) |
| Cash Flows from Financing Activities | |||
| Increase (decrease) in total short-term borrowings | 3,852 | 818 | (1,360) |
| Proceeds from long-term borrowings | 10,358 | 8,722 | 9,271 |
| Payments of long-term borrowings | (8,445) | (7,090) | (7,383) |
| Proceeds from issuance of common stock | 63 | 148 | 331 |
| Repurchases of common stock | (3,597) | (2,538) | (750) |
| Dividends paid | (1,313) | (1,040) | (956) |
| Other | (92) | (98) | (133) |
| Net cash provided by (used for) financing activities | 826 | (1,078) | (980) |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash | (224) | 55 | 32 |
| Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | (3,184) | 953 | 3,216 |
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Year | 8,125 | 7,172 | |
| Cash, Cash Equivalents, and Restricted Cash at End of Year | 4,941 | 8,125 | 7,172 |
| Components of Cash, Cash Equivalents, and Restricted Cash | |||
| Cash and cash equivalents | 4,774 | 8,017 | 7,066 |
| Restricted cash (Other assets) | 167 | 108 | 106 |
| Balance sheet location of restricted cash | http://fasb.org/us-gaap/2022#OtherAssets | http://fasb.org/us-gaap/2022#OtherAssets | http://fasb.org/us-gaap/2022#OtherAssets |
| Total cash, cash equivalents, and restricted cash | 4,941 | 8,125 | 7,172 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
DEERE & CO | ||
Ticker: DE Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Oct 30, 2022 10-K (Filed: Dec 15, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Oct 30, 2022 | Oct 31, 2021 | |
| ASSETS | ||
| Cash and cash equivalents | $ 4,774 | 8,017 |
| Marketable securities | 734 | 728 |
| Trade accounts and notes receivable - net | 6,410 | 4,208 |
| Other receivables | 2,492 | 1,765 |
| Equipment on operating leases - net | 6,623 | 6,988 |
| Inventories | 8,495 | 6,781 |
| Property and equipment - net | 6,056 | 5,820 |
| Goodwill | 3,687 | 3,291 |
| Other intangible assets - net | 1,218 | 1,275 |
| Retirement benefits | 3,730 | 3,601 |
| Deferred income taxes | 824 | 1,037 |
| Other assets | 2,417 | 2,145 |
| Total Assets | 90,030 | 84,114 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| LIABILITIES | ||
| Short-term borrowings | 12,592 | 10,919 |
| Short-term securitization borrowings | 5,711 | 4,605 |
| Accounts payable and accrued expenses | 14,822 | 12,348 |
| Deferred income taxes | 495 | 576 |
| Long-term borrowings | 33,596 | 32,888 |
| Retirement benefits and other liabilities | 2,457 | 4,344 |
| Total liabilities | 69,673 | 65,680 |
| Commitments and contingencies (Note 20) | ||
| Redeemable noncontrolling interest (Note 3) | 92 | |
| STOCKHOLDERS' EQUITY | ||
| Common stock, $1 par value (authorized - 1,200,000,000 shares; issued - 536,431,204 shares in 2022 and 2021), at paid-in amount | 5,165 | 5,054 |
| Common stock in treasury, 237,659,289 shares in 2022 and 228,366,144 shares in 2021, at cost | (24,094) | (20,533) |
| Retained earnings | 42,247 | 36,449 |
| Accumulated other comprehensive income (loss) | (3,056) | (2,539) |
| Total Deere & Company stockholders' equity | 20,262 | 18,431 |
| Noncontrolling interests | 3 | 3 |
| Total stockholders' equity | 20,265 | 18,434 |
| Total Liabilities and Stockholders' Equity | 90,030 | 84,114 |
| Pledged Status | ||
| Unrestricted | ||
| Financing receivables - net | 36,634 | 33,799 |
| Securitized | ||
| Financing receivables - net | 5,936 | 4,659 |
| Location of liability for pledged asset | http://fasb.org/us-gaap/2022#SecuredDebt | http://fasb.org/us-gaap/2022#SecuredDebt |
| Other assets | 155 | 107 |
| Total Assets | 6,091 | 4,766 |
| External Links | |
| DEERE & CO (DE) Fiscal Year 2022 | |
| 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 |