John Deere 2009 Annual Report Download - page 23

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STATEMENT OF CONSOLIDATED INCOME
For the Years Ended October 31, 2009, 2008 and 2007
(In millions of dollars and shares except per share amounts)
2009 2008 2007
_______ _______ _______
Net Sales and Revenues
Net sales .................................................................................................................................................... $ 20,756.1 $ 25,803.5 $ 21,489.1
Finance and interest income ....................................................................................................................... 1,842.1 2,068.4 2,054.8
Other income ............................................................................................................................................. 514.2 565.7 538.3
________ ________ ________
Total ..................................................................................................................................................... 23,112.4 28,437.6 24,082.2
________ ________ ________
Costs and Expenses
Cost of sales .............................................................................................................................................. 16,255.2 19,574.8 16,252.8
Research and development expenses .......................................................................................................... 977.0 943.1 816.8
Selling, administrative and general expenses ............................................................................................... 2,780.6 2,960.2 2,620.8
Interest expense ......................................................................................................................................... 1,042.4 1,137.0 1,151.2
Other operating expenses ........................................................................................................................... 717.4 698.7 565.1
________ ________ ________
Total ..................................................................................................................................................... 21,772.6 25,313.8 21,406.7
________ ________ ________
Income of Consolidated Group before Income Taxes .......................................................................... 1,339.8 3,123.8 2,675.5
Provision for income taxes .......................................................................................................................... 460.0 1,111.2 883.0
________ ________ ________
Income of Consolidated Group............................................................................................................... 879.8 2,012.6 1,792.5
Equity in income (loss) of unconsolidated affi liates ....................................................................................... (6.3) 40.2 29.2
________ ________ ________
Net Income .............................................................................................................................................. $ 873.5 $ 2,052.8 $ 1,821.7
________ ________ ________
________ ________ ________
Per Share Data
Net income - basic ..................................................................................................................................... $ 2.07 $ 4.76 $ 4.05
Net income - diluted ................................................................................................................................... $ 2.06 $ 4.70 $ 4.00
Dividends declared ..................................................................................................................................... $ 1.12 $ 1.06 $ .91
Average Shares Outstanding
Basic ......................................................................................................................................................... 422.8 431.1 449.3
Diluted ....................................................................................................................................................... 424.4 436.3 455.0
The notes to consolidated fi nancial statements are an integral part of this statement.
Deere & Company
23