John Deere 2013 Annual Report Download - page 30

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STATEMENT OF CONSOLIDATED CASH FLOWS
For the Years Ended October 31, 2013, 2012 and 2011
(In millions of dollars)
2013 2012 2011
_________ ________ ________
Cash Flows from Operating Activities
Net income ................................................................................................................................................. $ 3,537.6 $ 3,071.6 $ 2,807.8
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses ....................................................................................................................... 20.5 5.1 13.5
Provision for depreciation and amortization .............................................................................................. 1,140.3 1,004.2 914.9
Impairment charges ................................................................................................................................ 102.0 33.4
Share-based compensation expense ....................................................................................................... 80.7 74.5 69.0
Undistributed earnings of unconsolidated affiliates ................................................................................... 9.1 1.8 11.1
Credit for deferred income taxes ............................................................................................................. (172.6) (91.8) (168.0)
Changes in assets and liabilities:
Trade, notes and financing receivables related to sales ......................................................................... (1,510.2) (1,901.6) (808.9 )
Insurance receivables ......................................................................................................................... 263.4 (338.5) (300.1)
Inventories ......................................................................................................................................... (728.4) (1,510.2) (1,730.5)
Accounts payable and accrued expenses ............................................................................................. 217.1 1,061.8 1,287.0
Accrued income taxes payable/receivable ........................................................................................... 80.4 (72.3) 1.2
Retirement benefits ............................................................................................................................ 262.0 63.3 495.3
Other ..................................................................................................................................................... ( 47.6 ) (233.6) (266.0)
Net cash provided by operating activities......................................................................................... 3,254.3 1,167.7 2,326.3
Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales) ................................................................. 14,088.0 13,064.9 12,151.4
Proceeds from maturities and sales of marketable securities ........................................................................ 843.9 240.3 32.4
Proceeds from sales of equipment on operating leases ................................................................................ 936.7 799.5 683.4
Proceeds from sales of businesses, net of cash sold .................................................................................... 22.0 30.2 911.1
Cost of receivables acquired (excluding receivables related to sales) ............................................................. (17,011.7) (15,139.0) (13,956.8)
Purchases of marketable securities ............................................................................................................. (1,026.3) (922.2) (586.9)
Purchases of property and equipment ......................................................................................................... (1,158.4 ) (1,319.2) (1,056.6)
Cost of equipment on operating leases acquired .......................................................................................... (1,216.9 ) ( 801.8 ) (624.2)
Acquisitions of businesses, net of cash acquired .......................................................................................... (83.5) (60.8)
Other ......................................................................................................................................................... (214.5) 43.2 (113.7)
Net cash used for investing activities .............................................................................................. (4,820.7) (4,004.1) (2,620.7)
Cash Flows from Financing Activities
Increase (decrease) in total short-term borrowings ....................................................................................... 2,749.4 894.9 (226.1)
Proceeds from long-term borrowings ........................................................................................................... 4,734.0 10,642.0 5,655.0
Payments of long-term borrowings .............................................................................................................. (4,958.5) (5,396.0) (3,220.8)
Proceeds from issuance of common stock ................................................................................................... 174.5 61.0 170.0
Repurchases of common stock ................................................................................................................... (1,531.4) (1,587.7) (1,667.0 )
Dividends paid ............................................................................................................................................ (752.9) (697.9) (593.1)
Excess tax benefits from share-based compensation ................................................................................... 50.7 30.1 70.1
Other ......................................................................................................................................................... (59.3) (66.2) (48.5)
Net cash provided by financing activities ......................................................................................... 406.5 3,880.2 139.6
Effect of Exchange Rate Changes on Cash and Cash Equivalents ...................................................... 11.7 (38.8) 11.4
Net Increase (Decrease) in Cash and Cash Equivalents ...................................................................... (1,148.2) 1,005.0 (143.4)
Cash and Cash Equivalents at Beginning of Year ................................................................................. 4,652.2 3,6 47. 2 3,790.6
Cash and Cash Equivalents at End of Year............................................................................................ $ 3,504.0 $ 4,652.2 $ 3 ,6 47.2
The notes to consolidated financial statements are an integral part of this statement.
Deere & Company
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