John Deere 2014 Annual Report Download - page 33

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STATEMENT OF CONSOLIDATED CASH FLOWS
For the Years Ended October 31, 2014, 2013 and 2012
(In millions of dollars)
2014 2013 2012
_________ ________ ________
Cash Flows from Operating Activities
Net income ................................................................................................................................................. $ 3,163.3 $ 3,5 37.6 $ 3,071.6
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses ....................................................................................................................... 38.1 20.5 5.1
Provision for depreciation and amortization .............................................................................................. 1,306.5 1,140.3 1,004.2
Impairment charges ................................................................................................................................ 95.9 102.0 33.4
Share-based compensation expense ....................................................................................................... 78.5 80.7 74.5
Undistributed earnings of unconsolidated affiliates ................................................................................... 9.3 9.1 1.8
Credit for deferred income taxes ............................................................................................................. (280.1) (172.6) (91.8)
Changes in assets and liabilities:
Trade, notes and financing receivables related to sales ......................................................................... (749.0) (1,510.2) (1,901.6)
Insurance receivables ......................................................................................................................... (149.9) 263.4 (338.5)
Inventories ......................................................................................................................................... (2 97.9) (728.4) (1,510.2)
Accounts payable and accrued expenses ............................................................................................. (137.1) 217.1 1,061.8
Accrued income taxes payable/receivable ............................................................................................ 342.6 80.4 (72.3)
Retirement benefits ............................................................................................................................ 336.9 262.0 63.3
Other ..................................................................................................................................................... (231.2) (47.6 ) (233.6)
Net cash provided by operating activities......................................................................................... 3,525.9 3,254.3 1,167.7
Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales).................................................................. 15,319.1 14,088.0 13,064.9
Proceeds from maturities and sales of marketable securities ........................................................................ 1,022.5 843.9 240.3
Proceeds from sales of equipment on operating leases ................................................................................ 1,091.5 936.7 799.5
Proceeds from sales of businesses, net of cash sold .................................................................................... 345.8 22.0 30.2
Cost of receivables acquired (excluding receivables related to sales) ............................................................. ( 17, 24 0 .4 ) ( 17, 011.7 ) (15,139.0)
Purchases of marketable securities ............................................................................................................. (614.6) (1,026.3) (922.2)
Purchases of property and equipment ......................................................................................................... (1,048.3) (1,158.4) (1,319.2)
Cost of equipment on operating leases acquired .......................................................................................... (1,611.0) (1,216.9) (801.8)
Acquisitions of businesses, net of cash acquired .......................................................................................... (83.5)
Other ......................................................................................................................................................... (145.6) (214.5) 43.2
Net cash used for investing activities .............................................................................................. (2,881.0) (4,820.7) (4,004.1)
Cash Flows from Financing Activities
Increase in total short-term borrowings ....................................................................................................... 89.2 2,749.4 894.9
Proceeds from long-term borrowings ........................................................................................................... 8,232.0 4,734.0 10,642.0
Payments of long-term borrowings .............................................................................................................. (5,209.1) (4,958.5) (5,396.0)
Proceeds from issuance of common stock ................................................................................................... 149.5 174.5 61.0
Repurchases of common stock ................................................................................................................... (2,731.1) (1,531.4) (1,5 87.7 )
Dividends paid ............................................................................................................................................ (786.0) (752.9) (697.9 )
Excess tax benefits from share-based compensation ................................................................................... 30.8 50.7 30.1
Other ......................................................................................................................................................... (63.6) (59.3) (66.2)
Net cash provided by (used for) financing activities .......................................................................... (288.3) 406.5 3,880.2
Effect of Exchange Rate Changes on Cash and Cash Equivalents ...................................................... (73.6) 11.7 (38.8)
Net Increase (Decrease) in Cash and Cash Equivalents ...................................................................... 283.0 (1,148.2) 1,005.0
Cash and Cash Equivalents at Beginning of Year ................................................................................. 3,504.0 4,652.2 3,647.2
Cash and Cash Equivalents at End of Year............................................................................................ $ 3,787.0 $ 3,504.0 $ 4,652.2
The notes to consolidated financial statements are an integral part of this statement.
Deere & Company
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