Deere & Company (DE) 8-KDeere Reports Second-Quarter Net Income of $1.135 Billion
Filed: 17 May 19, 6:07am
Exhibit 99.2
(Furnished herewith)
Deere & Company
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For the Six Months Ended |
| Equipment Operations* | Agriculture and Turf | Construction and Forestry* | |||||||||||||||
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| April 28 | April 29 | April 28 | April 29 | April 28 | April 29 | ||||||||||||
Dollars in millions |
| 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | ||||||||||||
Net Sales |
| $ | 17,214 |
| $ | 15,721 |
| $ | 11,963 |
| $ | 11,292 |
| $ | 5,251 |
| $ | 4,429 |
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Net Sales - excluding Wirtgen |
| $ | 15,801 |
| $ | 14,594 |
| $ | 11,963 |
| $ | 11,292 |
| $ | 3,838 |
| $ | 3,302 |
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Average Identifiable Assets |
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With Inventories at LIFO |
| $ | 21,019 |
| $ | 19,268 |
| $ | 10,960 |
| $ | 10,275 |
| $ | 10,059 |
| $ | 8,993 |
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With Inventories at LIFO - excluding Wirtgen |
| $ | 14,623 |
| $ | 13,561 |
| $ | 10,960 |
| $ | 10,275 |
| $ | 3,663 |
| $ | 3,286 |
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With Inventories at Standard Cost |
| $ | 22,389 |
| $ | 20,544 |
| $ | 12,064 |
| $ | 11,305 |
| $ | 10,325 |
| $ | 9,239 |
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With Inventories at Standard Cost - |
| $ | 15,993 |
| $ | 14,837 |
| $ | 12,064 |
| $ | 11,305 |
| $ | 3,929 |
| $ | 3,532 |
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Operating Profit |
| $ | 1,943 |
| $ | 1,734 |
| $ | 1,367 |
| $ | 1,443 |
| $ | 576 |
| $ | 291 |
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Operating Profit - excluding Wirtgen |
| $ | 1,827 |
| $ | 1,785 |
| $ | 1,367 |
| $ | 1,443 |
| $ | 460 |
| $ | 342 |
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Percent of Net Sales - excluding Wirtgen |
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| 11.6 | % |
| 12.2 | % |
| 11.4 | % |
| 12.8 | % |
| 12.0 | % |
| 10.4 | % |
Operating Return on Assets - excluding Wirtgen |
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With Inventories at LIFO - excluding Wirtgen |
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| 12.5 | % |
| 13.2 | % |
| 12.5 | % |
| 14.0 | % |
| 12.6 | % |
| 10.4 | % |
With Inventories at Standard Cost - |
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| 11.4 | % |
| 12.0 | % |
| 11.3 | % |
| 12.8 | % |
| 11.7 | % |
| 9.7 | % |
SVA Cost of Assets - excluding Wirtgen |
| $ | (960) |
| $ | (890) |
| $ | (724) |
| $ | (678) |
| $ | (236) |
| $ | (212) |
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SVA - excluding Wirtgen |
| $ | 867 |
| $ | 895 |
| $ | 643 |
| $ | 765 |
| $ | 224 |
| $ | 130 |
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For the Six Months Ended |
| Financial Services |
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| April 28 | April 29 |
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Dollars in millions |
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| 2019 |
| 2018** |
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Net Income Attributable to Deere & Company |
| $ | 275 |
| $ | 529 |
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Net Income Attributable to Deere & Company - Tax Adjusted |
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| $ | 271 |
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Average Equity |
| $ | 5,006 |
| $ | 4,827 |
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Average Equity - Tax Adjusted |
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| $ | 4,752 |
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Return on Equity |
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| 5.5 | % |
| 11.0 | % |
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Return on Equity - Tax Adjusted |
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| 5.7 | % |
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Operating Profit |
| $ | 362 |
| $ | 396 |
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Average Equity |
| $ | 5,006 |
| $ | 4,752 |
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Cost of Equity |
| $ | (333) |
| $ | (349) |
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SVA |
| $ | 29 |
| $ | 47 |
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