Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


	FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report: November 22, 2023

(Date of earliest event reported)

DEERE & COMPANY

(Exact name of registrant as specified in its charter)


Delaware	1-4121	36-2382580
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One John Deere Place

Moline, Illinois 61265

(Address of principal executive offices and zip code)

(309) 765-8000

(Registrant’s telephone number, including area code)

___________________________________________________

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:


Title of each class	Trading symbol	Name of each exchange on which registered
Common stock, $1 par value	DE	New York Stock Exchange
6.55% Debentures Due 2028	DE28	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Items 2.02

and 7.01 Results of Operations and Financial Condition and Regulation FD Disclosure (Furnished

herewith)

Deere & Company’s press release dated November 22, 2023 concerning Fourth Quarter of Fiscal 2023 financial results and supplemental financial information (Exhibit 99.1) is furnished under Form 8-K Items 2.02 and 7.01. The attached schedules of Other Financial Information (Exhibit 99.2) and Fourth Quarter 2023 Earnings Conference Call Information (Exhibit 99.3) are furnished under Form 8-K Items 2.02 and 7.01. The information is not filed for purposes of the Securities Exchange Act of 1934 and is not deemed incorporated by reference by any general statements incorporating by reference this report or future filings into any filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent Deere & Company specifically incorporates the information by reference.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits


Number	Description of Exhibit
99.1	Press Release and Supplemental Financial Information (Furnished herewith)
99.2	Other Financial Information (Furnished herewith)
99.3	Fourth Quarter 2023 Earnings Conference Call Information (Furnished herewith)
104	Cover Page Interactive Data File (the cover page XBRL tags are imbedded in the Inline XBRL document)

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	DEERE & COMPANY


	By:	/s/ Edward R. Berk
		Edward R. Berk
		Secretary


Dated: November 22, 2023

Exhibit 99.1

(Furnished herewith)


News Release

Contact:
Jen Hartmann
Director, Public Relations
HartmannJenniferA@JohnDeere.com

Deere Reports Net Income of $2.369 Billion for Fourth Quarter, $10.166 Billion for Fiscal Year

●

Net income grows for quarter and full year, driven by solid market conditions, differentiated products, and strong execution.

●

Full-year 2024 earnings forecast to be $7.75 to $8.25 billion, as volumes return to mid-cycle levels.

●

Ongoing focus on structural profitability, investments that deliver customer value.

MOLINE, Illinois (November 22, 2023) — Deere & Company reported net income of $2.369 billion for the fourth quarter ended October 29, 2023, or $8.26 per share, compared with net income of $2.246 billion, or $7.44 per share, for the quarter ended October 30, 2022. For fiscal-year 2023, net income attributable to Deere & Company was $10.166 billion, or $34.63 per share, compared with $7.131 billion, or $23.28 per share, in fiscal 2022.

Worldwide net sales and revenues decreased 1 percent, to $15.412 billion, for the fourth quarter of fiscal 2023 and rose 16 percent, to $61.251 billion, for the full year. Net sales were $13.801 billion for the quarter and $55.565 billion for the year, compared with $14.351 billion and $47.917 billion in 2022.

“Deere’s fourth-quarter and full-year results can be attributed to the successful execution of our Smart Industrial Operating Model and the value that customers recognize in our industry-leading products and solutions,” said John C. May, chairman and chief executive officer. “We must also recognize and credit our dedicated employees, dealers, and suppliers, whose hard work and focus have been instrumental to our overall success.”

Company Outlook & Summary

Net income attributable to Deere & Company for fiscal 2024 is forecasted to be in a range of $7.75 billion to $8.25 billion.

“While our end markets will fluctuate, we remain focused on disciplined execution and strategically investing in solutions that drive customer value,” May said. “As evidenced by our guidance for 2024, we are demonstrating higher levels of through-cycle structural profitability while making our company more resilient and better equipped for the future.”


Deere & Company	Fourth Quarter					Full Year
$ in millions, except per share amounts	2023		2022		% Change	2023		2022		% Change
Net sales and revenues	$	15,412	$	15,536	-1%	$	61,251	$	52,577	16%
Net income	$	2,369	$	2,246	5%	$	10,166	$	7,131	43%
Fully diluted EPS	$	8.26	$	7.44		$	34.63	$	23.28

Results for the presented periods were affected by special items. See Note 1 of the financial statements for further details.


Production & Precision Agriculture	Fourth Quarter
$ in millions	2023		2022		% Change
Net sales	$	6,965	$	7,434	-6%
Operating profit	$	1,836	$	1,740	6%
Operating margin		26.4%		23.4%

Production and precision agriculture sales decreased for the quarter due to lower shipment volumes partially offset by price realization. Operating profit improved primarily due to price realization partially offset by lower shipment volumes / sales mix and higher SA&G and R&D expenses. The prior period was impacted by higher reserves on assets in Russia.


Small Agriculture & Turf	Fourth Quarter
$ in millions	2023		2022		% Change
Net sales	$	3,094	$	3,544	-13%
Operating profit	$	444	$	506	-12%
Operating margin		14.4%		14.3%

Small agriculture and turf sales decreased for the quarter due to lower shipment volumes partially offset by price realization. Operating profit decreased due to lower shipment volumes / sales mix and higher SA&G and R&D expenses, partially offset by price realization.


Construction & Forestry	Fourth Quarter
$ in millions	2023		2022		% Change
Net sales	$	3,742	$	3,373	11%
Operating profit	$	516	$	414	25%
Operating margin		13.8%		12.3%

Construction and forestry sales increased for the quarter due to price realization and higher shipment volumes. Operating profit improved primarily due to price realization, partially offset by higher production costs, less-favorable sales mix, the unfavorable effects of foreign currency exchange, and a loss on the sale of the Russian roadbuilding business. The prior period was impacted by higher reserves on assets in Russia.


Financial Services	Fourth Quarter
$ in millions	2023		2022		% Change
Net income	$	190	$	232	-18%

Financial services net income for the quarter decreased due to unfavorable derivative valuation adjustments, less-favorable financing spreads, and a higher provision for credit losses (excluding reserves in Russia). These factors were partially offset by income earned on a higher average portfolio. In the fourth quarter of 2022, financial services increased its reserves for credit losses in Russia and recorded an intercompany benefit from the equipment operations, which guarantees the financial services’ investment in certain international markets, including Russia.


Industry Outlook for Fiscal 2024
Agriculture & Turf
U.S. & Canada:
Large Ag						Down 10 to 15%
Small Ag & Turf						Down 5 to 10%
Europe						Down ~10%
South America (Tractors & Combines)						Down ~10%
Asia						Down moderately

Construction & Forestry
U.S. & Canada:
Construction Equipment						Down 5 to 10%
Compact Construction Equipment						Flat to Down 5%
Global Forestry						Down ~10%
Global Roadbuilding						Flat


Deere Segment Outlook for Fiscal 2024		Currency	Price
$ in millions	Net Sales	Translation	Realization
Production & Precision Ag	Down 15 to 20%	~ Flat	+1.5%
Small Ag & Turf	Down 10 to 15%	~ Flat	+1.0%
Construction & Forestry	Down ~10%	~ Flat	+1.5%

Financial Services	Net Income	~ $770

Financial Services. Fiscal-year 2024 net income attributable to Deere & Company for the financial services operations is forecast to be approximately $770 million. Results are expected to be higher in 2024 due to income earned on a higher average portfolio, partially offset by less-favorable financing spreads and lower gains on operating-lease residual values. A correction of the accounting treatment for financing incentives offered to John Deere dealers impacted 2023 financial results. See Note 1 of the financial statements for further details.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein, including in the section entitled “Company Outlook & Summary,” “Industry Outlook,” and “Deere Segment Outlook,” relating to future events, expectations, and trends constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 and involve factors that are subject to change, assumptions, risks, and uncertainties that could cause actual results to differ materially. Some of these risks and uncertainties could affect all lines of the company’s operations generally while others could more heavily affect a particular line of business.

Forward-looking statements are based on currently available information and current assumptions, expectations, and projections about future events and should not be relied upon. Except as required by law, the company expressly disclaims any obligation to update or revise its forward-looking statements. Many factors, risks, and uncertainties could cause actual results to differ materially from these forward-looking statements. Among these factors are risks related to:

•	changes in U.S., foreign and international laws, regulations, and policies relating to trade, spending, taxing, banking, monetary, environmental (including climate change and engine emission), and farming policies;

•	political, economic, and social instability of the geographies in which the company operates, including the ongoing war between Russia and Ukraine and the war between Israel and Hamas;

•	adverse macroeconomic conditions, including unemployment, inflation, rising interest rates, changes in consumer practices due to slower economic growth or possible recession, and regional or global liquidity constraints;

•	growth and sustainability of non-food uses for crops (including ethanol and biodiesel production);

•	the ability to execute business strategies, including the company’s Smart Industrial Operating Model, Leap Ambitions, and mergers and acquisitions;

•	the ability to understand and meet customers’ changing expectations and demand for John Deere products and solutions;

•	accurately forecasting customer demand for products and services and adequately managing inventory;

•	the ability to integrate new technology, including automation and machine learning, and deliver precision technology and solutions to customers;

•	changes to governmental communications channels (radio frequency technology);

•	the ability to adapt in highly competitive markets;

•	dealer practices and their ability to manage distribution of John Deere products and support and service precision technology solutions;

•	changes in climate patterns, unfavorable weather events, and natural disasters;

•	governmental and other actions designed to address climate change in connection with a transition to a lower-carbon economy;

•	higher interest rates and currency fluctuations which could adversely affect the U.S. dollar, customer confidence, access to capital, and demand for John Deere products and solutions;

•	availability and price of raw materials, components, and whole goods;

•	delays or disruptions in the company’s supply chain;

•	labor relations and contracts, including work stoppages and other disruptions;

•	the ability to attract, develop, engage, and retain qualified personnel;

•	security breaches, cybersecurity attacks, technology failures, and other disruptions to John Deere information technology infrastructure and products;

•	loss of or challenges to intellectual property rights;

•	compliance with evolving U.S. and foreign laws, including economic sanctions, data privacy, and environmental laws and regulations;

•	legislation introduced or enacted that could affect the company’s business model and intellectual property, such as so-called right to repair or right to modify legislation;

•	investigations, claims, lawsuits, or other legal proceedings;

•	events that damage the company’s reputation or brand;

•	world grain stocks, available farm acres, soil conditions, harvest yields, prices for commodities and livestock, input costs, and availability of transport for crops; and

•	housing starts and supply, real estate and housing prices, levels of public and non-residential construction, and infrastructure investment.

Further information concerning the company and its businesses, including factors that could materially affect the financial results, is included in the company’s filings with the SEC (including, but not limited to, the factors discussed in Item 1A. “Risk Factors” of the most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q). There also may be other factors that the company cannot anticipate or that are not described herein because the company does not currently perceive them to be material.

DEERE & COMPANY

FOURTH QUARTER 2023 PRESS RELEASE

(In millions of dollars) Unaudited


	Three Months Ended					Years Ended
	October 29		October 30		%	October 29		October 30		%
	2023		2022		Change	2023		2022		Change
Net sales and revenues:
Production & precision ag net sales	$	6,965	$	7,434	-6	$	26,790	$	22,002	+22
Small ag & turf net sales		3,094		3,544	-13		13,980		13,381	+4
Construction & forestry net sales		3,742		3,373	+11		14,795		12,534	+18
Financial services revenues		1,347		988	+36		4,721		3,625	+30
Other revenues		264		197	+34		965		1,035	-7
Total net sales and revenues	$	15,412	$	15,536	-1	$	61,251	$	52,577	+16

Operating profit: *
Production & precision ag	$	1,836	$	1,740	+6	$	6,996	$	4,386	+60
Small ag & turf		444		506	-12		2,472		1,949	+27
Construction & forestry		516		414	+25		2,695		2,014	+34
Financial services		229		297	-23		795		1,159	-31
Total operating profit		3,025		2,957	+2		12,958		9,508	+36
Reconciling items **		51		(68)			79		(370)
Income taxes		(707)		(643)	+10		(2,871)		(2,007)	+43
Net income attributable to Deere & Company	$	2,369	$	2,246	+5	$	10,166	$	7,131	+43

* Operating profit is income from continuing operations before corporate expenses, certain external interest expense, certain foreign exchange gains and losses, and income taxes. Operating profit for financial services includes the effect of interest expense and foreign exchange gains or losses.

** Reconciling items are primarily corporate expenses, certain interest income and expenses, certain foreign exchange gains and losses, pension and postretirement benefit costs excluding the service cost component, equity in income of unconsolidated affiliates, and net income attributable to noncontrolling interests.

DEERE & COMPANY

STATEMENTS OF CONSOLIDATED INCOME

For the Three Months and Years Ended October 29, 2023 and October 30, 2022

(In millions of dollars and shares except per share amounts) Unaudited


	Three Months Ended				Years Ended
	2023		2022		2023		2022
Net Sales and Revenues
Net sales	$	13,801	$	14,351	$	55,565	$	47,917
Finance and interest income		1,357		925		4,683		3,365
Other income		254		260		1,003		1,295
Total		15,412		15,536		61,251		52,577

Costs and Expenses
Cost of sales		9,427		10,214		37,715		35,338
Research and development expenses		606		576		2,177		1,912
Selling, administrative and general expenses		1,203		1,192		4,595		3,863
Interest expense		781		348		2,453		1,062
Other operating expenses		322		320		1,292		1,275
Total		12,339		12,650		48,232		43,450

Income of Consolidated Group before Income Taxes		3,073		2,886		13,019		9,127
Provision for income taxes		707		643		2,871		2,007

Income of Consolidated Group		2,366		2,243		10,148		7,120
Equity in income of unconsolidated affiliates		2		1		7		10

Net Income		2,368		2,244		10,155		7,130
Less: Net loss attributable to noncontrolling interests		(1)		(2)		(11)		(1)
Net Income Attributable to Deere & Company	$	2,369	$	2,246	$	10,166	$	7,131

Per Share Data
Basic	$	8.30	$	7.48	$	34.80	$	23.42
Diluted		8.26		7.44		34.63		23.28
Dividends declared		1.35		1.13		5.05		4.36
Dividends paid		1.25		1.13		4.83		4.28

Average Shares Outstanding
Basic		285.5		300.4		292.2		304.5
Diluted		286.9		302.1		293.6		306.3

See Condensed Notes to Consolidated Financial Statements.

DEERE & COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

As of October 29, 2023 and October 30, 2022

(In millions of dollars) Unaudited


	2023		2022
Assets
Cash and cash equivalents	$	7,458	$	4,774
Marketable securities		946		734
Trade accounts and notes receivable – net		7,739		6,410
Financing receivables – net		43,673		36,634
Financing receivables securitized – net		7,335		5,936
Other receivables		2,623		2,492
Equipment on operating leases – net		6,917		6,623
Inventories		8,160		8,495
Property and equipment – net		6,879		6,056
Goodwill		3,900		3,687
Other intangible assets – net		1,133		1,218
Retirement benefits		3,007		3,730
Deferred income taxes		1,814		824
Other assets		2,503		2,417
Total Assets	$	104,087	$	90,030

Liabilities and Stockholders’ Equity

Liabilities
Short-term borrowings	$	17,939	$	12,592
Short-term securitization borrowings		6,995		5,711
Accounts payable and accrued expenses		16,130		14,822
Deferred income taxes		520		495
Long-term borrowings		38,477		33,596
Retirement benefits and other liabilities		2,140		2,457
Total liabilities		82,201		69,673

Redeemable noncontrolling interest		97		92

Stockholders’ Equity
Total Deere & Company stockholders’ equity		21,785		20,262
Noncontrolling interests		4		3
Total stockholders’ equity		21,789		20,265
Total Liabilities and Stockholders’ Equity	$	104,087	$	90,030

See Condensed Notes to Consolidated Financial Statements.

DEERE & COMPANY

STATEMENTS OF CONSOLIDATED CASH FLOWS

For the Years Ended October 29, 2023 and October 30, 2022

(In millions of dollars) Unaudited


	2023		2022
Cash Flows from Operating Activities
Net income	$	10,155	$	7,130
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses		(16)		192
Provision for depreciation and amortization		2,004		1,895
Impairments and other adjustments		191		88
Share-based compensation expense		130		85
Gain on remeasurement of previously held equity investment				(326)
Credit for deferred income taxes		(790)		(66)
Changes in assets and liabilities:
Receivables related to sales		(4,253)		(2,483)
Inventories		279		(2,091)
Accounts payable and accrued expenses		830		1,133
Accrued income taxes payable/receivable		(23)		141
Retirement benefits		(170)		(1,015)
Other		252		16
Net cash provided by operating activities		8,589		4,699

Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales)		23,051		20,907
Proceeds from sales of equipment on operating leases		1,981		2,093
Cost of receivables acquired (excluding receivables related to sales)		(28,772)		(26,300)
Acquisitions of businesses, net of cash acquired		(82)		(498)
Purchases of property and equipment		(1,498)		(1,134)
Cost of equipment on operating leases acquired		(2,970)		(2,654)
Collateral on derivatives – net		(12)		(642)
Other		(447)		(257)
Net cash used for investing activities		(8,749)		(8,485)

Cash Flows from Financing Activities
Net proceeds in short-term borrowings (original maturities three months or less)		4,008		3,852
Proceeds from borrowings issued (original maturities greater than three months)		15,429		10,358
Payments of borrowings (original maturities greater than three months)		(7,913)		(8,445)
Repurchases of common stock		(7,216)		(3,597)
Dividends paid		(1,427)		(1,313)
Other		(73)		(29)
Net cash provided by financing activities		2,808		826

Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash		31		(224)

Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash		2,679		(3,184)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year		4,941		8,125
Cash, Cash Equivalents, and Restricted Cash at End of Year	$	7,620	$	4,941

See Condensed Notes to Consolidated Financial Statements.


DEERE & COMPANY
Condensed Notes to Consolidated Financial Statements
(In millions of dollars) Unaudited

(1)	Special Items

2023

In the fourth quarter of 2023, the company sold its Russian roadbuilding business, recognizing a loss of $18 million (pretax and after-tax). The loss was recorded in “Other operating expenses” in the construction and forestry segment.

In the third quarter of 2023, a favorable tax ruling in Brazil allowed the company to record a $243 million reduction in the provision for income taxes and $47 million of interest income.

In the second quarter of 2023, the company corrected the accounting treatment for financing incentives offered to John Deere dealers, which impacted the timing of expense recognition and the presentation of incentive costs in the consolidated financial statements. The cumulative effect of this correction, $173 million pretax ($135 million after-tax), was recorded in the second quarter of 2023. Prior period results for Deere & Company were not restated, as the adjustment is considered immaterial to the company’s financial statements.

2022

In the second quarter of 2022, the company acquired full ownership of three former Deere-Hitachi joint venture factories. The remeasurement of the previously held equity investment resulted in a non-cash gain of $326 million (pretax and after-tax).

In the second quarter of 2022, the company suspended shipments of machines and service parts to Russia. As a result, the company impaired its long-lived assets, increased reserves of certain financial assets, introduced an employee voluntary-separation program, and recorded an accrual for various contractual uncertainties. In the fourth quarter of 2022, the company increased its reserves for credit losses, reflecting further economic uncertainty in Russia. The financial services received an intercompany benefit from the equipment operations, which guarantees the financial services’ investment in certain international markets, including Russia.

In the first quarter of 2022, the company had a one-time payment related to the ratification of the UAW collective bargaining agreement, totaling $90 million.

The following table summarizes the operating profit impact, in millions of dollars, of the special items recorded for the three months and fiscal years ended October 29, 2023 and October 30, 2022:


	Three Months									Fiscal Years
	PPA		SAT		CF		FS	Total		PPA		SAT		CF		FS		Total
2023 Expense:
Russian roadbuilding sale – Other operating expense					$	18		$	18					$	18			$	18
Financing incentive – SA&G expense																$	173		173
Total expense						18			18						18		173		191

2022 Expense (benefit):
Gain on remeasurement of equity investment – Other income															(326)				(326)
Total Russia/Ukraine events expense	$	70	$	8		50			128	$	133	$	11		110		1		255
UAW ratification bonus – Cost of sales											53		9		28				90
Total expense (benefit)		70		8		50			128		186		20		(188)		1		19

Period over period change	$	(70)	$	(8)	$	(32)		$	(110)	$	(186)	$	(20)	$	206	$	172	$	172

(2)

The consolidated financial statements represent the consolidation of all Deere & Company’s subsidiaries. The supplemental consolidating data is presented for informational purposes. Transactions between the Equipment Operations and Financial Services have been eliminated to arrive at the consolidated financial statements. In the supplemental consolidating data in Note 3 to the financial statements, the “Equipment Operations” represents the enterprise without “Financial Services”, which include the company’s production and precision agriculture operations, small agriculture and turf operations, and construction and forestry operations, and other corporate assets, liabilities, revenues, and expenses not reflected within “Financial Services.”

DEERE & COMPANY

(3) SUPPLEMENTAL CONSOLIDATING DATA
STATEMENTS OF INCOME

For the Three Months Ended October 29, 2023 and October 30, 2022

(In millions of dollars) Unaudited


	EQUIPMENT				FINANCIAL
	OPERATIONS				SERVICES				ELIMINATIONS				CONSOLIDATED
	2023		2022		2023		2022		2023		2022		2023		2022
Net Sales and Revenues
Net sales	$	13,801	$	14,351									$	13,801	$	14,351
Finance and interest income		193		83	$	1,445	$	1,003	$	(281)	$	(161)		1,357		925	¹
Other income		218		233		121		231		(85)		(204)		254		260	^{2, 3}
Total		14,212		14,667		1,566		1,234		(366)		(365)		15,412		15,536

Costs and Expenses
Cost of sales		9,433		10,215						(6)		(1)		9,427		10,214	⁴
Research and development expenses		606		576										606		576
Selling, administrative and general expenses		980		922		225		272		(2)		(2)		1,203		1,192	⁴
Interest expense		114		93		757		306		(90)		(51)		781		348	¹
Interest compensation to Financial Services		191		110						(191)		(110)					¹
Other operating expenses		45		163		354		358		(77)		(201)		322		320	^{5, 6}
Total		11,369		12,079		1,336		936		(366)		(365)		12,339		12,650

Income before Income Taxes		2,843		2,588		230		298						3,073		2,886
Provision for income taxes		665		576		42		67						707		643

Income after Income Taxes		2,178		2,012		188		231						2,366		2,243
Equity in income of unconsolidated affiliates						2		1						2		1

Net Income		2,178		2,012		190		232						2,368		2,244
Less: Net loss attributable to noncontrolling interests		(1)		(2)										(1)		(2)
Net Income Attributable to Deere & Company	$	2,179	$	2,014	$	190	$	232					$	2,369	$	2,246

¹ Elimination of intercompany interest income and expense.

² Elimination of Equipment Operations’ margin from inventory transferred to equipment on operating leases.

³ Elimination of Financial Services’ income related to intercompany guarantees of investments in certain international markets and intercompany service revenues.

⁴ Elimination of intercompany service fees.

⁵ Elimination of Financial Services’ lease depreciation expense related to inventory transferred to equipment on operating leases.

⁶ Elimination of Equipment Operations’ expense related to intercompany guarantees of investments in certain international markets and intercompany service expenses.

DEERE & COMPANY

SUPPLEMENTAL CONSOLIDATING DATA (Continued)
STATEMENTS OF INCOME

For the Years Ended October 29, 2023 and October 30, 2022

(In millions of dollars) Unaudited


	EQUIPMENT				FINANCIAL
	OPERATIONS				SERVICES				ELIMINATIONS				CONSOLIDATED
	2023		2022		2023		2022		2023		2022		2023		2022
Net Sales and Revenues
Net sales	$	55,565	$	47,917									$	55,565	$	47,917
Finance and interest income		636		213	$	5,055	$	3,583	$	(1,008)	$	(431)		4,683		3,365	¹
Other income		858		1,261		499		502		(354)		(468)		1,003		1,295	^{2, 3}
Total		57,059		49,391		5,554		4,085		(1,362)		(899)		61,251		52,577

Costs and Expenses
Cost of sales		37,739		35,341						(24)		(3)		37,715		35,338	⁴
Research and development expenses		2,177		1,912										2,177		1,912
Selling, administrative and general expenses		3,611		3,137		994		735		(10)		(9)		4,595		3,863	⁴
Interest expense		411		390		2,362		799		(320)		(127)		2,453		1,062	¹
Interest compensation to Financial Services		687		299						(687)		(299)					¹
Other operating expenses		217		350		1,396		1,386		(321)		(461)		1,292		1,275	^{5, 6}
Total		44,842		41,429		4,752		2,920		(1,362)		(899)		48,232		43,450

Income before Income Taxes		12,217		7,962		802		1,165						13,019		9,127
Provision for income taxes		2,685		1,718		186		289						2,871		2,007

Income after Income Taxes		9,532		6,244		616		876						10,148		7,120
Equity in income of unconsolidated affiliates		4		6		3		4						7		10

Net Income		9,536		6,250		619		880						10,155		7,130
Less: Net loss attributable to noncontrolling interests		(11)		(1)										(11)		(1)
Net Income Attributable to Deere & Company	$	9,547	$	6,251	$	619	$	880					$	10,166	$	7,131

¹ Elimination of intercompany interest income and expense.

² Elimination of Equipment Operations’ margin from inventory transferred to equipment on operating leases.

³ Elimination of Financial Services’ income related to intercompany guarantees of investments in certain international markets and intercompany service revenues.

⁴ Elimination of intercompany service fees.

⁵ Elimination of Financial Services’ lease depreciation expense related to inventory transferred to equipment on operating leases.

⁶ Elimination of Equipment Operations’ expense related to intercompany guarantees of investments in certain international markets and intercompany service expenses.

DEERE & COMPANY

SUPPLEMENTAL CONSOLIDATING DATA (Continued)

CONDENSED BALANCE SHEETS

As of October 29, 2023 and October 30, 2022

(In millions of dollars) Unaudited


	EQUIPMENT				FINANCIAL
	OPERATIONS				SERVICES				ELIMINATIONS				CONSOLIDATED
	2023		2022		2023		2022		2023		2022		2023		2022
Assets
Cash and cash equivalents	$	5,720	$	3,767	$	1,738	$	1,007					$	7,458	$	4,774
Marketable securities		104		61		842		673						946		734
Receivables from Financial Services		4,516		6,569					$	(4,516)	$	(6,569)					⁷
Trade accounts and notes receivable – net		1,320		1,273		8,687		6,434		(2,268)		(1,297)		7,739		6,410	⁸
Financing receivables – net		64		47		43,609		36,587						43,673		36,634
Financing receivables securitized – net						7,335		5,936						7,335		5,936
Other receivables		1,813		1,670		869		832		(59)		(10)		2,623		2,492	⁸
Equipment on operating leases – net						6,917		6,623						6,917		6,623
Inventories		8,160		8,495										8,160		8,495
Property and equipment – net		6,843		6,021		36		35						6,879		6,056
Goodwill		3,900		3,687										3,900		3,687
Other intangible assets – net		1,133		1,218										1,133		1,218
Retirement benefits		2,936		3,666		72		66		(1)		(2)		3,007		3,730	⁹
Deferred income taxes		2,133		940		68		45		(387)		(161)		1,814		824	¹⁰
Other assets		1,948		1,794		559		626		(4)		(3)		2,503		2,417
Total Assets	$	40,590	$	39,208	$	70,732	$	58,864	$	(7,235)	$	(8,042)	$	104,087	$	90,030

Liabilities and Stockholders’ Equity

Liabilities
Short-term borrowings	$	1,230	$	1,040	$	16,709	$	11,552					$	17,939	$	12,592
Short-term securitization borrowings						6,995		5,711						6,995		5,711
Payables to Equipment Operations						4,516		6,569	$	(4,516)	$	(6,569)					⁷
Accounts payable and accrued expenses		14,862		12,962		3,599		3,170		(2,331)		(1,310)		16,130		14,822	⁸
Deferred income taxes		452		380		455		276		(387)		(161)		520		495	¹⁰
Long-term borrowings		7,210		7,917		31,267		25,679						38,477		33,596
Retirement benefits and other liabilities		2,032		2,351		109		108		(1)		(2)		2,140		2,457	⁹
Total liabilities		25,786		24,650		63,650		53,065		(7,235)		(8,042)		82,201		69,673

Redeemable noncontrolling interest		97		92										97		92

Stockholders’ Equity
Total Deere & Company stockholders’ equity		21,785		20,262		7,082		5,799		(7,082)		(5,799)		21,785		20,262	¹¹
Noncontrolling interests		4		3										4		3
Financial Services equity		(7,082)		(5,799)						7,082		5,799					¹¹
Adjusted total stockholders' equity		14,707		14,466		7,082		5,799						21,789		20,265
Total Liabilities and Stockholders’ Equity	$	40,590	$	39,208	$	70,732	$	58,864	$	(7,235)	$	(8,042)	$	104,087	$	90,030

⁷ Elimination of receivables / payables between Equipment Operations and Financial Services.

⁸ Primarily reclassification of sales incentive accruals on receivables sold to Financial Services.

⁹ Reclassification of net pension assets / liabilities.

¹⁰ Reclassification of deferred tax assets / liabilities in the same taxing jurisdictions.

¹¹ Elimination of Financial Services’ equity.

DEERE & COMPANY

SUPPLEMENTAL CONSOLIDATING DATA (Continued)

STATEMENTS OF CASH FLOWS

For the Years Ended October 29, 2023 and October 30, 2022

(In millions of dollars) Unaudited


	EQUIPMENT				FINANCIAL
	OPERATIONS				SERVICES				ELIMINATIONS				CONSOLIDATED
	2023		2022		2023		2022		2023		2022		2023		2022
Cash Flows from Operating Activities
Net income	$	9,536	$	6,250	$	619	$	880					$	10,155	$	7,130
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses		7		3		(23)		189						(16)		192
Provision (credit) for depreciation and amortization		1,123		1,041		1,016		1,050	$	(135)	$	(196)		2,004		1,895	¹²
Impairments and other adjustments		18		88		173								191		88
Share-based compensation expense										130		85		130		85	¹³
Gain on remeasurement of previously held equity investment				(326)												(326)
Distributed earnings of Financial Services		215		444						(215)		(444)					¹⁴
Provision (credit) for deferred income taxes		(959)		8		169		(74)						(790)		(66)
Changes in assets and liabilities:
Receivables related to sales		(58)		(189)						(4,195)		(2,294)		(4,253)		(2,483)	^{15, 17, 18}
Inventories		474		(1,924)						(195)		(167)		279		(2,091)	¹⁶
Accounts payable and accrued expenses		1,352		1,444		449		143		(971)		(454)		830		1,133	¹⁷
Accrued income taxes payable/receivable		8		166		(31)		(25)						(23)		141
Retirement benefits		(164)		(1,016)		(6)		1						(170)		(1,015)
Other		367		250		(51)		(287)		(64)		53		252		16	^{12, 13, 16}
Net cash provided by operating activities		11,919		6,239		2,315		1,877		(5,645)		(3,417)		8,589		4,699

Cash Flows from Investing Activities
Collections of receivables (excluding receivables related to sales)						24,128		22,400		(1,077)		(1,493)		23,051		20,907	¹⁵
Proceeds from sales of equipment on operating leases						1,981		2,093						1,981		2,093
Cost of receivables acquired (excluding receivables related to sales)						(29,229)		(26,903)		457		603		(28,772)		(26,300)	¹⁵
Acquisitions of businesses, net of cash acquired		(82)		(498)										(82)		(498)
Purchases of property and equipment		(1,494)		(1,131)		(4)		(3)						(1,498)		(1,134)
Cost of equipment on operating leases acquired						(3,234)		(2,879)		264		225		(2,970)		(2,654)	¹⁶
Increase (decrease) in investment in Financial Services		(870)		7						870		(7)					¹⁹
Increase in trade and wholesale receivables						(5,783)		(3,601)		5,783		3,601					¹⁵
Collateral on derivatives – net		(1)		5		(11)		(647)						(12)		(642)
Other		(290)		(213)		(160)		(81)		3		37		(447)		(257)	¹⁸
Net cash used for investing activities		(2,737)		(1,830)		(12,312)		(9,621)		6,300		2,966		(8,749)		(8,485)

Cash Flows from Financing Activities
Net proceeds (payments) in short-term borrowings (original maturities three months or less)		(113)		136		4,121		3,716						4,008		3,852
Change in intercompany receivables/payables		2,090		(1,633)		(2,090)		1,633
Proceeds from borrowings issued (original maturities greater than three months)		342		138		15,087		10,220						15,429		10,358
Payments of borrowings (original maturities greater than three months)		(901)		(1,356)		(7,012)		(7,089)						(7,913)		(8,445)
Repurchases of common stock		(7,216)		(3,597)										(7,216)		(3,597)
Capital investment from Equipment Operations						870		(7)		(870)		7					¹⁹
Dividends paid		(1,427)		(1,313)		(215)		(444)		215		444		(1,427)		(1,313)	¹⁴
Other		(7)		6		(66)		(35)						(73)		(29)
Net cash provided by (used for) financing activities		(7,232)		(7,619)		10,695		7,994		(655)		451		2,808		826

Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash		24		(209)		7		(15)						31		(224)

Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash		1,974		(3,419)		705		235						2,679		(3,184)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year		3,781		7,200		1,160		925						4,941		8,125
Cash, Cash Equivalents, and Restricted Cash at End of Year	$	5,755	$	3,781	$	1,865	$	1,160					$	7,620	$	4,941

¹² Elimination of depreciation on leases related to inventory transferred to equipment on operating leases.

¹³ Reclassification of share-based compensation expense.

¹⁴ Elimination of dividends from Financial Services to the Equipment Operations, which are included in the Equipment Operations operating activities.

¹⁵ Primarily reclassification of receivables related to the sale of equipment.

¹⁶ Reclassification of direct lease agreements with retail customers.

¹⁷ Reclassification of sales incentive accruals on receivables sold to Financial Services.

¹⁸Elimination and reclassification of the effects of Financial Services partial financing of the construction and forestry retail locations sales and subsequent collection of those amounts.

¹⁹Elimination of investment from Equipment Operations to Financial Services.

Exhibit 99.2

(Furnished herewith)

DEERE & COMPANY

OTHER FINANCIAL INFORMATION

The company evaluates its business results on the basis of accounting principles generally accepted in the United States. In addition, it uses a metric referred to as Shareholder Value Added (SVA), which management believes is an appropriate measure for the performance of its businesses. SVA is, in effect, the pretax profit left over after subtracting the cost of enterprise capital. The company is aiming for a sustained creation of SVA and is using this metric for various performance goals. Certain compensation is also determined on the basis of performance using this measure. For purposes of determining SVA, each of the equipment segments is assessed a pretax cost of assets, which on an annual basis is approximately 12 percent of the segment’s average identifiable operating assets during the applicable period with inventory at standard cost. Management believes that valuing inventories at standard cost more closely approximates the current cost of inventory and the company’s investment in the asset. The Financial Services segment is assessed an annual pretax cost of approximately 13 percent of the segment's average equity. The cost of assets or equity, as applicable, is deducted from the operating profit or added to the operating loss of each segment to determine the amount of SVA.


	Equipment						Production &						Small Ag						Construction
For the Years Ended	Operations						Precision Ag						& Turf						& Forestry
	Oct 29			Oct 30			Oct 29			Oct 30			Oct 29			Oct 30			Oct 29			Oct 30
Dollars in Millions	2023			2022			2023			2022			2023			2022			2023			2022
Net Sales	$	55,565		$	47,917		$	26,790		$	22,002		$	13,980		$	13,381		$	14,795		$	12,534
Average Identifiable Assets
With Inventories as Reported	$	21,114		$	19,420		$	9,256		$	8,336		$	4,601		$	4,349		$	7,257		$	6,735
With Inventories at Standard Cost		23,186			20,983			10,343			9,118			5,149			4,795			7,694			7,070
Operating Profit	$	12,163		$	8,349		$	6,996		$	4,386		$	2,472		$	1,949		$	2,695		$	2,014
Percent of Net Sales		21.9	%		17.4	%		26.1	%		19.9	%		17.7	%		14.6	%		18.2	%		16.1	%
Operating Return on Assets
With Inventories as Reported		57.6	%		43.0	%		75.6	%		52.6	%		53.7	%		44.8	%		37.1	%		29.9	%
With Inventories at Standard Cost		52.5	%		39.8	%		67.6	%		48.1	%		48.0	%		40.6	%		35.0	%		28.5	%
SVA Cost of Assets	$	(2,782)		$	(2,519)		$	(1,241)		$	(1,094)		$	(618)		$	(576)		$	(923)		$	(849)
SVA		9,381			5,830			5,755			3,292			1,854			1,373			1,772			1,165

	Financial
For the Years Ended	Services
	Oct 29			Oct 30
Dollars in Millions		2023			2022
Net Income Attributable to Deere & Company	$	619		$	880
Average Equity		6,588			5,725
Return on Equity		9.4	%		15.4	%
Operating Profit	$	795		$	1,159
Cost of Equity		(858)			(760)
SVA		(63)			399

Exhibit 99.3

4Q 2023 Earnings Call 22 November 2023 Exhibit 99.3 (Furnished herewith)

2 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Forward-Looking Statements This earnings call and accompanying materials may include forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “forecast,” “guidance,” “project,” “target,” “outlook,” “prospects,” “expect,” “estimate,” “will,” “goal,” “plan,” “anticipate,” “intend,” “predict,” “believe,” “likely,” “future,” “could,” “may,” or other similar words or phrases, including the negative variations of such words or phrases. Examples of forward-looking statements include, among others, comments and information concerning the company’s plans and projections for the future, including estimates and assumptions with respect to economic, political, technological, weather, market acceptance, acquisitions and divestitures of businesses, anticipated transaction costs, the integration of new businesses, anticipated benefits of acquisitions, and other factors that impact the company’s businesses and customers. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations and assumptions regarding the future of the company’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, changes in circumstances and other factors that are difficult to predict and many of which are outside of the company’s control causing actual results to differ materially from those projected in these forward-looking statements. Among these factors are risks related to changes in U.S. and international laws and regulations, the political and economic geographies in which we operate, international conflicts, adverse macroeconomic conditions impacting consumer practices, including demand for John Deere products and changes in climate patterns. For a discussion of some of these risks and uncertainties see “Item 1A Risk Factors” in our most recent Annual Report on Form 10-K, as updated by our subsequent filings with the U.S. Securities and Exchange Commission. Investors should refer to and consider the information on risks and uncertainties in addition to the information presented here. All forward-looking statements made in this earnings call and accompanying materials are based only on information currently available and speaks only as of the date on which it is made. You should not place undue reliance on forward-looking statements. The company, except as required by law, undertakes no obligation to update or revise any forward-looking statements whether as a result of new developments or otherwise. This earnings call and accompanying materials may contain non-GAAP financial measures. Non-GAAP measures should be view as a supplement to and not in isolation from or as a substitute for the Company’s GAAP measures of performance and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated. 22

3 John Deere | 4Q 2023 Earnings Call | November 22, 2023 FY 2023 Results ($ millions except where noted) 16% Net Sales and Revenues Net Sales (Equipment Operations) Net Income (attributable to Deere & Company) Diluted EPS ($ per share) 16% 43% 49% $52,577 $61,251 FY 2022 FY 2023 $47,917 $55,565 FY 2022 FY 2023 $23.28 $34.63 FY 2022 FY 2023 $7,131 $10,166 FY 2022 FY 2023 23

4 John Deere | 4Q 2023 Earnings Call | November 22, 2023 4Q 2023 Results ($ millions except where noted) $15,536 $15,412 4Q 2022 4Q 2023 $14,351 $13,801 4Q 2022 4Q 2023 $2,246 $2,369 4Q 2022 4Q 2023 $7.44 $8.26 4Q 2022 4Q 2023 4% Net Sales and Revenues Net Sales (Equipment Operations) Net Income (attributable to Deere & Company) Diluted EPS ($ per share) 1% 5% 11% 24

5 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Production and Precision Ag 4Q 2023 Results $ in millions $7,434 $6,965 4Q 2022 4Q 2023 Net Sales 6% Operating Profit Comparison $1,836 ($622) ($67) $1,740 $729 ($14) $18 $40 ($58) $70 4Q 2022 Volume/ Mix Price Currency Warranty Production Costs SA&G/ R&D Special Items Other 4Q 2023 25

6 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Small Ag and Turf 4Q 2023 Results $ in millions $3,544 $3,094 4Q 2022 4Q 2023 Net Sales 13% Operating Profit Comparison $444 ($189) $8 ($5) $506 $168 $1 ($31) $35 ($49) 4Q 2022 Volume/ Mix Price Currency Warranty Production Costs SA&G/ R&D Special Items Other 4Q 2023 26

7 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Ag and Turf Industry Outlook (in units) – FY 2024 Source: Deere & Company forecast as of 22 November 2023 U.S. and CANADA LARGE AG 10-15% EUROPE AG ~10% SOUTH AMERICA AG (tractors and combines) ~10% U.S. and CANADA SMALL AG and TURF 5-10% ASIA AG Down moderately 27

8 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Production and Precision Ag Business Segment Outlook $ in millions Source: Deere & Company forecast as of 22 November 2023 26.1% FY 2023 FY 2024 Fcst $26,790 FY 2023 FY 2024 Fcst Net Sales Operating Margin 15-20% 23-24% 28

9 John Deere | 4Q 2023 Earnings Call | November 22, 2023 $13,980 FY 2023 FY 2024 Fcst Small Ag and Turf Business Segment Outlook $ in millions Source: Deere & Company forecast as of 22 November 2023 17.7% FY 2023 FY 2024 Fcst Net Sales Operating Margin 10-15% 15-16% 29

10 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Construction and Forestry 4Q 2023 Results $ in millions $3,373 $3,742 4Q 2022 4Q 2023 Net Sales 11% Operating Profit Comparison $516 ($8) $1 ($84) $0 $32 $414 $214 ($28) ($25) 4Q 2022 Volume/ Mix Price Currency Warranty Production Costs SA&G/ R&D Special Items Other 4Q 2023 30

11 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Construction and Forestry Industry Outlook (in units) – FY 2024 Source: Deere & Company forecast as of 22 November 2023 U.S. and CANADA COMPACT CONSTRUCTION EQUIPMENT Flat to down 5% GLOBAL FORESTRY ~10% U.S. and CANADA CONSTRUCTION EQUIPMENT 5-10% GLOBAL ROADBUILDING Flat 31

12 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Construction and Forestry Business Segment Outlook $ in millions Source: Deere & Company forecast as of 22 November 2023 18.2% FY 2023 FY 2024 Fcst $14,795 FY 2023 FY 2024 Fcst Net Sales Operating Margin ~10% 17-18% 32

13 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Financial Services Net Income – Results and Outlook $ in millions Source: Deere & Company forecast as of 22 November 2023 $232 $190 4Q 2022 4Q 2023 Quarter Results Fiscal Year Outlook $619 $770 FY 2023 FY 2024 Fcst ~ 33

14 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Deere & Company Outlook Effective Tax Rate* Net Income (attributable to Deere & Co.) $7.75-8.25B 24-26% FY 2024 FORECAST Net Operating Cash Flow* $8.0-8.5B *Equipment Operations Source: Deere & Company forecast as of 22 November 2023 Research and Development Expenses* Capital Expenditures* Flat to slightly up ~$1.9B 34

15 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Appendix 35

16 John Deere | 4Q 2023 Earnings Call | November 22, 2023 October 2023 Retail Sales (Rolling 3 Months) and Dealer Inventories Retail Sales U.S. and Canada Ag Industry* Deere** 2WD Tractors (< 40 PTO hp) 7% More than the industry 2WD Tractors (40 < 100 PTO hp) 6% More than the industry 2WD Tractors (100+ PTO hp) 3% In line with the industry 4WD Tractors 42% Less than the industry Combines 26% More than the industry Deere Dealer Inventories*** U.S. and Canada Ag 2023 2022 2WD Tractors (100+ PTO hp) 23% 18% Combines 4% 6% * As reported by the Association of Equipment Manufacturers ** As reported to the Association of Equipment Manufacturers *** In units as a % of trailing 12 months retail sales, as reported to the Association of Equipment Manufacturers 36

17 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Retail Sales U.S. and Canada Deere* Selected Turf and Utility Equipment Up double digits Construction and Forestry First-in-the-Dirt Settlements High single digit Single digit October 2023 Retail Sales (Rolling 3 Months) Retail Sales Europe Ag Deere* Tractors Single digit Combines Single digit * Based on internal sales reports 37

18 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Deere Use-of-Cash Priorities SHARE REPURCHASE Manage the balance sheet, including liquidity, to support a rating that provides access to low-cost and readily available short- and long-term funding mechanisms (reflects the strategic nature of our financial services operation) Fund value-creating investments in our businesses Consistently and moderately raise dividend targeting a 25-35% payout ratio of mid-cycle earnings Consider share repurchase as a means to deploy excess cash to shareholders, once above requirements are met COMMITTED TO “A” RATING FUND OPERATING & GROWTH NEEDS COMMON STOCK DIVIDEND CASH FROM OPERATIONS 38

19 John Deere | 4Q 2023 Earnings Call | November 22, 2023 Deere & Company’s 1Q 2024 earnings call is scheduled for 9:00 a.m. Central Time on Thursday, 15 February 2024. 39

Document and Entity Information	Nov. 22, 2023
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Nov. 22, 2023
Entity File Number	1-4121
Entity Registrant Name	DEERE & CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2382580
Entity Address, Address Line One	One John Deere Place
Entity Address, City or Town	Moline
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61265
City Area Code	309
Local Phone Number	765-8000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000315189
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $1 par value
Trading Symbol	DE
Security Exchange Name	NYSE
6.55% Debentures Due 2028
Document Information [Line Items]
Title of 12(b) Security	6.55% Debentures Due 2028
Trading Symbol	DE28
Security Exchange Name	NYSE

Deere (NYSE:DE)
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Deere (NYSE:DE)
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