John Deere 2014 Annual Report Download - page 62

62
OPERATING SEGMENTS 2014 2013 2012
Interest income*
Agriculture and turf .................................... $ 17 $ 24 $ 29
Construction and forestry ........................... 1 2 2
Financial services ...................................... 1,754 1,668 1,610
Corporate .................................................. 57 55 43
Intercompany ............................................ (268) (247) (248)
Total ..................................................... $ 1,561 $ 1,502 $ 1,436
* Does not include finance rental income for equipment on operating leases.
Interest expense
Agriculture and turf .................................... $ 175 $ 167 $ 168
Construction and forestry ........................... 37 36 36
Financial services ...................................... 431 488 596
Corporate .................................................. 289 297 231
Intercompany ............................................ (268) (247) (248)
Total ..................................................... $ 664 $ 741 $ 783
Depreciation* and amortization
expense
Agriculture and turf .................................... $ 681 $ 627 $ 550
Construction and forestry ........................... 115 106 93
Financial services ...................................... 511 407 361
Total ..................................................... $ 1,307 $ 1,140 $ 1,004
* Includes depreciation for equipment on operating leases.
Equity in income (loss) of
unconsolidated afliates
Agriculture and turf .................................... $ 8 $ (1) $ (2)
Construction and forestry ........................... (18) (2)
Financial services ...................................... 2 1 1
Total ..................................................... $ (8) $ (3)
Identiable operating assets
Agriculture and turf .................................... $ 9,442 $ 10,799 $ 10,429
Construction and forestry ........................... 3,405 3,461 3,365
Financial services ...................................... 42,784 38,646 34,495
Corporate* ................................................ 5,705 6,615 7,97 7
Total ..................................................... $ 61,336 $ 59,521 $ 56,266
* Corporate assets are primarily the equipment operations’ retirement benefits,
deferred income tax assets, marketable securities and cash and cash equivalents
as disclosed in Note 31, net of certain intercompany eliminations.
Capital additions
Agriculture and turf .................................... $ 868 $ 981 $ 1,145
Construction and forestry ........................... 145 174 228
Financial services ...................................... 3 3 3
Total ..................................................... $ 1,016 $ 1,158 $ 1,376
Investments in unconsolidated afliates
Agriculture and turf .................................... $ 110 $ 24 $ 32
Construction and forestry ........................... 182 187 174
Financial services ...................................... 11 10 9
Total ..................................................... $ 303 $ 221 $ 215
The company views and has historically disclosed its
operations as consisting of two geographic areas, the U.S. and
Canada, and outside the U.S. and Canada, shown below in
millions of dollars. No individual foreign country’s net sales
and revenues were material for disclosure purposes.
GEOGRAPHIC AREAS 2014 2013 2012
Net sales and revenues
Unaffiliated customers:
U.S. and Canada:
Equipment operations
net sales (87%)* ............................ $ 20,171 $ 21,821 $ 20,807
Financial services revenues (78%)* .... 2,220 2,031 1,930
Total ............................................. 22,391 23,852 22,737
Outside U.S. and Canada:
Equipment operations net sales ......... 12,790 13,177 12,694
Financial services revenues ............... 357 318 305
Total ............................................. 13,147 13,495 12,999
Other revenues .......................................... 529 448 421
Total ......................................................... $ 36,067 $ 37,79 5 $ 36,157
* The percentages indicate the approximate proportion of each amount that relates to
the U.S. only and are based upon a three-year average for 2014, 2013 and 2012.
Operating prot
U.S. and Canada:
Equipment operations ........................ $ 3,311 $ 4,062 $ 3,836
Financial services .............................. 727 706 566
Total ............................................. 4,038 4,768 4,402
Outside U.S. and Canada:
Equipment operations ........................ 986 996 561
Financial services .............................. 194 164 146
Total ............................................. 1,180 1,160 707
Total ......................................................... $ 5,218 $ 5,928 $ 5,109
Property and equipment
U.S. .......................................................... $ 3,154 $ 2,997 $ 2,742
Germany ................................................... 640 647 568
Other countries.......................................... 1,784 1,823 1,702
Total ................................................. $ 5,578 $ 5,467 $ 5,012
29. SUPPLEMENTAL INFORMATION (UNAUDITED)
Common stock per share sales prices from New York Stock
Exchange composite transactions quotations follow:
First Second Third Fourth
Quarter Quarter Quarter Quarter
2014 Market price
High ........................................... $ 91.33 $ 93.89 $ 94.53 $ 8 7.16
Low ........................................... $ 81.50 $ 84.05 $ 85.11 $ 80.01
2013 Market price
High ........................................... $ 93.47 $ 95.05 $ 93.77 $ 85.10
Low ........................................... $ 82.83 $ 82.56 $ 80.90 $ 80.99