John Deere 2010 Annual Report Download - page 24

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24
STATEMENT OF CONSOLIDATED INCOME
For the Years Ended October 31, 2010, 2009 and 2008
(In millions of dollars and shares except per share amounts)
2010 2009 2008
_______ _______ _______
Net Sales and Revenues
Net sales .................................................................................................................................................... $ 23,573.2 $ 20,756.1 $ 25,803.5
Finance and interest income ....................................................................................................................... 1,825.3 1,842.1 2,068.4
Other income ............................................................................................................................................. 606.1 514.2 565.7
Total ..................................................................................................................................................... 26,004.6 23,112.4 28,437.6
Costs and Expenses
Cost of sales .............................................................................................................................................. 17,398.8 16,255.2 19,574.8
Research and development expenses .......................................................................................................... 1,052.4 977.0 943.1
Selling, administrative and general expenses ............................................................................................... 2,968.7 2,780.6 2,960.2
Interest expense ......................................................................................................................................... 811.4 1,042.4 1,137.0
Other operating expenses ........................................................................................................................... 748.1 718.0 697.8
Total ..................................................................................................................................................... 22,979.4 21,773.2 25,312.9
Income of Consolidated Group before Income Taxes .......................................................................... 3,025.2 1,339.2 3,124.7
Provision for income taxes .......................................................................................................................... 1,161.6 460.0 1,111.2
Income of Consolidated Group............................................................................................................... 1,863.6 879.2 2,013.5
Equity in income (loss) of unconsolidated affi liates ....................................................................................... 10.7 (6.3) 40.2
Net Income .............................................................................................................................................. 1,874.3 872.9 2,053.7
Less: Net income (loss) attributable to noncontrolling interests................................................................. 9.3 (.6) .9
Net Income Attributable to Deere & Company ...................................................................................... $ 1,8 65.0 $ 87 3.5 $ 2,052.8
Per Share Data
Basic ......................................................................................................................................................... $ 4.40 $ 2.07 $ 4.76
Diluted ....................................................................................................................................................... $ 4.35 $ 2.06 $ 4.70
Dividends declared ..................................................................................................................................... $ 1.16 $ 1.12 $ 1.06
Average Shares Outstanding
Basic ......................................................................................................................................................... 424.0 422.8 431.1
Diluted ....................................................................................................................................................... 428.6 424.4 436.3
The notes to consolidated fi nancial statements are an integral part of this statement.
Deere & Company