Deere & Company Investor Relations - John Deere

Enterprise SVA Reconciliation to GAAP
(millions of dollars unless stated otherwise)
Equipment Operations 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Net Sales
Average Identifiable Assets
11,077 11,703 13,349 17,673 19,401 19,884 21,489 25,803 20,756 23,573 29,466
With Inventories at LIFO 8,743 6,229 5,965 6,482 7,248 7,546 8,092 9,652 9,647 9,196 11,516
With Inventories at Standard Cost 9,678 7,147 6,925 7,477 8,312 8,634 9,205 10,812 10,950 10,494 12,875
Operating Profit (46) 401 708 1,905 1,842 1,905 2,318 2,927 1,365 2,909 3,839
Percent of Net Sales
Operating Return on Assets
-0.4% 3.4% 5.3% 10.8% 9.5% 9.6% 10.8% 11.3% 6.6% 12.3% 13.0%
With Inventories at LIFO -0.5% 6.4% 11.9% 29.4% 25.4% 25.2% 28.6% 30.3% 14.1% 31.6% 33.3%
With Inventories at Standard Cost -0.5% 5.6% 10.2% 25.5% 22.2% 22.1% 25.2% 27.1% 12.5% 27.7% 29.8%
SVA Cost of Assets (1,162) (858) (831) (897) (998) (1,036) (1,094) (1,284) (1,301) (1,259) (1,545)
Equipment Operations SVA (1,208) (457) (123) 1,008 844 869 1,224 1,643 64 1,650 2,294
Financial Services
Net Income 262 330 309 345 584 364 337 203 373 471
Average Equity 2,115 2,177 2,265 2,227 2,466 2,524 2,355 2,732 3,064 3,194
Return on Equity 12.40% 15.20% 13.60% 15.50% 23.70% 14.40% 14.30% 7.40% 12.20% 14.70%
Operating Profit Continuing 416 504 466 491 521 553 493 242 499 725
Change in Allowance for Doubtful Receivables 16 17 -8 -12 15 17 -4 68 -14 -
SVA Income Continuing 432 521 458 479 536 570 489 310 485 725
Average Equity Continuing Operations 2,115 2,177 2,163 2,110 2,424 2,524 2,355 2,732 3,064 3,194
Average Allowance for Doubtful Receivables 161 160 165 150 148 167 183 195 232 -
SVA Average Equity 2,276 2,337 2,328 2,260 2,572 2,691 2,538 2,927 3,296 3,194
Cost of Equity -437 -431 -414 -410 -457 -480 -430 -458 -420 -492
SVA Continuing Operations 44 69 79 90 59 -148 65 233
SVA Discontinued Operations -11 25 - - - - - -
Financial Services SVA (5) 90 44 69 79 90 59 (148) 65 233
Deere & Company - Enterprise SVA (462)
91
| Deere & Company | May / June 2012
(33)
1,052
913
948
1,314
1,702
(84)
1,715
2,527