XML 75 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
SEGMENT REPORTING
 6 Months Ended
Apr. 30, 2014
SEGMENT REPORTING  
SEGMENT REPORTING

(9)              Worldwide net sales and revenues, operating profit and identifiable assets by segment in millions of dollars follow:

 

 

 

Three Months Ended April 30

 

Six Months Ended April 30

 

 

2014

 

2013

 

%
Change

 

2014

 

2013

 

%
Change

Net sales and revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture and turf

 

$

7,646

 

 

$

8,691

 

 

-12

 

$

13,242

 

 

$

14,182

 

 

-7

Construction and forestry

 

1,600

 

 

1,574

 

 

+2

 

2,953

 

 

2,876

 

 

+3

Total net sales

 

9,246

 

 

10,265

 

 

-10

 

16,195

 

 

17,058

 

 

-5

Financial services

 

572

 

 

536

 

 

+7

 

1,159

 

 

1,063

 

 

+9

Other revenues

 

130

 

 

113

 

 

+15

 

248

 

 

214

 

 

+16

Total net sales and revenues

 

$

9,948

 

 

$

10,914

 

 

-9

 

$

17,602

 

 

$

18,335

 

 

-4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit: *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture and turf

 

$

1,229

 

 

$

1,582

 

 

-22

 

$

2,026

 

 

$

2,347

 

 

-14

Construction and forestry

 

132

 

 

81

 

 

+63

 

226

 

 

153

 

 

+48

Financial services

 

229

 

 

198

 

 

+16

 

411

 

 

395

 

 

+4

Total operating profit

 

1,590

 

 

1,861

 

 

-15

 

2,663

 

 

2,895

 

 

-8

Reconciling items **

 

(130

)

 

(111

)

 

+17

 

(241

)

 

(206

)

 

+17

Income taxes

 

(479

)

 

(666

)

 

-28

 

(760

)

 

(955

)

 

-20

Net income attributable to Deere & Company

 

$

981

 

 

$

1,084

 

 

-10

 

$

1,662

 

 

$

1,734

 

 

-4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment sales and revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture and turf net sales

 

$

23

 

 

$

17

 

 

+35

 

$

42

 

 

$

36

 

 

+17

Construction and forestry net sales

 

 

 

 

 

 

 

 

 

1

 

 

1

 

 

 

Financial services

 

59

 

 

58

 

 

+2

 

105

 

 

104

 

 

+1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equipment operations outside the U.S. and Canada:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

3,672

 

 

$

3,920

 

 

-6

 

$

6,280

 

 

$

6,491

 

 

-3

Operating profit

 

341

 

 

367

 

 

-7

 

552

 

 

508

 

 

+9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 30
2014

 

October 31
2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture and turf

 

 

 

 

 

 

 

 

 

$

11,161

 

 

$

10,799

 

 

+3

Construction and forestry

 

 

 

 

 

 

 

 

 

3,527

 

 

3,461

 

 

+2

Financial services

 

 

 

 

 

 

 

 

 

41,027

 

 

38,646

 

 

+6

Corporate

 

 

 

 

 

 

 

 

 

5,147

 

 

6,615

 

 

-22

Total assets

 

 

 

 

 

 

 

 

 

$

60,862

 

 

$

59,521

 

 

+2

 

*                   Operating profit is income from continuing operations before corporate expenses, certain external interest expense, certain foreign exchange gains and losses and income taxes.  Operating profit of the financial services segment includes the effect of interest expense and foreign exchange gains and losses.

 

**            Reconciling items are primarily corporate expenses, certain external interest expense, certain foreign exchange gains and losses and net income attributable to noncontrolling interests.