Cash Flow Statement

Operating Cash Flow

+59%

10Y

+98%

Currency: USD

	Jan-2002	Apr-2002	Jul-2002	Oct-2002	Jan-2003	Apr-2003	Jul-2003	Oct-2003	Jan-2004	Apr-2004	Jul-2004	Oct-2004	Jan-2005	Apr-2005	Jul-2005	Oct-2005	Jan-2006	Apr-2006	Jul-2006	Oct-2006	Jan-2007	Apr-2007	Jul-2007	Oct-2007	Jan-2008	Apr-2008	Jul-2008	Oct-2008	Jan-2009	Apr-2009	Jul-2009	Oct-2009	Jan-2010	Apr-2010	Jul-2010	Oct-2010	Jan-2011	Apr-2011	Jul-2011	Oct-2011	Jan-2012	Apr-2012	Jul-2012	Oct-2012	Jan-2013	Apr-2013	Jul-2013	Oct-2013	Jan-2014	Apr-2014	Jul-2014	Oct-2014	Jan-2015	Apr-2015	Jul-2015	Oct-2015	Jan-2016	Apr-2016	Jul-2016	Oct-2016	Jan-2017	Apr-2017	Jul-2017	Oct-2017	Jan-2018	Apr-2018	Jul-2018	Oct-2018	Jan-2019	Apr-2019	Jul-2019	Nov-2019	Feb-2020	May-2020	Aug-2020	Nov-2020	Jan-2021	May-2021	Aug-2021	Oct-2021	Jan-2022	May-2022	Jul-2022	Oct-2022	Jan-2023	Apr-2023	Jul-2023	Oct-2023	Jan-2024	Apr-2024	Jul-2024	Oct-2024	Jan-2025	Apr-2025	Jul-2025	Nov-2025
Operating Cash Flow
Net Income	(159)	(145)	(69)	319	425	541	640	643	746	966	1 120	1 406	1 458	1 585	1 571	1 447	1 460	1 601	1 649	1 694	1 697	1 576	1 677	1 822	1 952	2 092	2 130	2 054	1 889	1 597	1 442	873	915	992	1 192	1 874	2 143	2 500	2 595	2 808	2 828	2 979	3 055	3 072	3 187	3 213	3 420	3 538	3 569	3 466	3 321	3 163	2 869	2 579	2 239	1 941	1 808	1 612	1 589	1 522	1 466	1 780	1 933	2 159	1 426	1 827	2 097	2 371	3 405	3 332	3 320	3 257	3 275	2 805	2 717	2 753	3 459	4 583	5 440	5 965	5 645	5 952	6 169	7 130	8 183	8 944	10 031	10 155	9 946	9 456	8 214	7 088	6 207	5 639	5 180	4 998
Depreciation & Amortization	0	0	0	725	0	0	0	631	791	948	1 100	621	621	618	624	637	637	655	667	691	716	727	742	744	758	785	818	831	848	854	857	873	898	906	913	915	892	900	900	915	939	965	980	1 004	1 038	1 060	1 103	1 140	1 206	1 216	1 257	1 307	1 306	1 359	1 378	1 382	1 414	1 461	1 512	1 560	1 601	1 641	1 680	1 716	1 763	1 823	1 882	1 927	1 967	1 993	2 004	2 019	2 054	2 070	2 111	2 118	2 118	2 105	2 073	2 050	1 998	1 929	1 924	1 895	1 903	1 957	1 979	2 004	2 030	2 054	2 075	2 118	2 147	2 177	2 188	2 229
Change in Deffered Taxes	0	0	0	(1)	0	0	0	33	32	278	239	385	362	68	16	(49)	(45)	105	106	16	32	(204)	(60)	(4)	(21)	33	(63)	90	140	117	155	172	181	354	356	175	(49)	(244)	(256)	(168)	(11)	18	(49)	(92)	(84)	(72)	(84)	(173)	(161)	(207)	(225)	(280)	(95)	(24)	42	(18)	46	(43)	64	283	54	89	50	100	568	805	819	1 480	945	594	507	(465)	(438)	(244)	(293)	(11)	(20)	(163)	(122)	(441)	(193)	(191)	(176)	(66)	(332)	(480)	(489)	(790)	(707)	(533)	(486)	(294)	(113)	(163)	(271)	(288)
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	91	133	146	158	82	85	81	78	71	71	73	71	71	65	66	68	71	46	53	61	69	74	74	74	75	77	82	81	81	82	80	79	79	73	63	66	66	66	69	70	71	71	71	70	68	67	76	80	84	87	88	84	82	81	86	82	81	77	78	82	82	85	81	82	85	90	95	133	130	153	180	177	208	190	158	153	151
Other Non-Cash Items	0	0	0	183	0	0	0	101	113	157	164	72	61	18	12	22	27	(319)	(303)	(218)	(166)	193	207	136	136	142	143	147	172	220	240	599	591	563	540	203	159	138	127	94	82	87	79	115	133	133	195	212	230	274	228	222	196	150	150	155	165	225	250	174	158	(168)	(256)	(183)	(194)	85	168	123	126	147	160	216	235	405	413	402	446	223	175	128	66	(116)	(93)	39	(84)	339	380	305	489	402	518	643	631	604	600	488
Cash Taxes Paid	0	0	0	201	0	0	0	84	0	0	0	424	0	0	0	547	0	0	0	701	0	0	0	640	0	0	0	712	0	0	0	206	0	0	0	627	0	0	0	1 449	0	0	0	1 744	0	0	0	1 954	0	0	0	1 720	0	0	0	901	0	0	0	392	0	0	0	981	0	0	0	712	0	0	0	1 111	0	0	0	1 069	0	0	0	2 075	0	0	0	1 940	0	0	0	3 578	0	0	0	2 518	0	0	0	1 647
Cash Interest Paid	0	0	0	538	0	0	0	544	0	0	0	511	0	0	0	672	0	0	0	1 027	0	0	0	1 134	0	0	0	1 127	0	0	0	993	0	0	0	828	0	0	0	755	0	0	0	810	0	0	0	766	0	0	0	692	0	0	0	661	0	0	0	726	0	0	0	903	0	0	0	1 176	0	0	0	1 460	0	0	0	1 279	0	0	0	1 041	0	0	0	1 101	0	0	0	2 227	0	0	0	3 298	0	0	0	3 080
Change in Working Capital	1 920	2 080	2 078	652	1 259	670	754	228	292	(898)	(1 480)	(1 988)	(2 213)	(1 466)	(1 556)	(839)	(1 419)	(1 468)	(1 114)	(1 210)	(1 028)	(85)	30	62	(206)	(655)	(611)	(1 173)	(1 890)	(1 497)	(1 205)	(532)	697	767	(412)	(885)	(1 445)	(2 093)	(1 535)	(1 322)	(1 838)	(2 585)	(3 510)	(2 931)	(3 128)	(2 796)	(1 742)	(1 463)	(1 087)	(1 171)	(1 232)	(886)	(514)	140	227	299	59	346	473	232	531	577	(228)	(1 592)	(1 923)	(3 399)	(4 166)	(4 079)	(4 975)	(4 516)	(3 093)	(1 615)	(571)	647	2 117	2 221	2 131	1 745	174	24	(2 486)	(3 396)	(3 994)	(4 299)	(3 664)	(4 446)	(4 724)	(3 085)	(2 831)	(1 699)	(489)	(324)	135	598	859	32
Cash from Operating Activities	1 762 N/A	1 936 +10%	2 009 +4%	1 878 -7%	1 684 -10%	1 211 -28%	1 395 +15%	1 637 +17%	1 974 +21%	1 451 -26%	1 143 -21%	496 -57%	290 -42%	824 +184%	667 -19%	1 217 +82%	659 -46%	574 -13%	1 006 +75%	973 -3%	1 250 +28%	2 206 +76%	2 596 +18%	2 759 +6%	2 620 -5%	2 397 -9%	2 417 +1%	1 949 -19%	1 159 -41%	1 291 +11%	1 489 +15%	1 985 +33%	3 282 +65%	3 582 +9%	2 590 -28%	2 282 -12%	1 700 -26%	1 200 -29%	1 830 +52%	2 326 +27%	2 000 -14%	1 464 -27%	555 -62%	1 168 +110%	1 145 -2%	1 539 +34%	2 891 +88%	3 254 +13%	3 758 +15%	3 579 -5%	3 349 -6%	3 526 +5%	3 762 +7%	4 203 +12%	4 036 -4%	3 759 -7%	3 491 -7%	3 601 +3%	3 887 +8%	3 770 -3%	3 811 +1%	3 918 +3%	3 179 -19%	2 200 -31%	1 640 -25%	1 142 -30%	799 -30%	1 822 +128%	1 468 -19%	1 549 +6%	2 898 +87%	3 412 +18%	4 555 +33%	5 683 +25%	7 065 +24%	7 483 +6%	8 134 +9%	8 493 +4%	7 740 -9%	7 726 0%	5 030 -35%	4 178 -17%	3 830 -8%	4 699 +23%	6 006 +28%	6 314 +5%	7 177 +14%	8 589 +20%	8 927 +4%	9 680 +8%	9 832 +2%	9 231 -6%	9 007 -2%	8 855 -2%	8 556 -3%	7 459 -13%
Investing Cash Flow
Capital Expenditures	(1 215)	(1 128)	(1 057)	(847)	(835)	(767)	(706)	(569)	(539)	(514)	(264)	(654)	(699)	(715)	(714)	(855)	(958)	(1 049)	(1 081)	(1 183)	(1 337)	(1 393)	(1 396)	(1 484)	(1 400)	(1 382)	(1 403)	(1 608)	(1 633)	(1 604)	(1 909)	(1 308)	(1 189)	(1 211)	(1 215)	(1 313)	(1 403)	(1 500)	(1 552)	(1 681)	(1 761)	(1 806)	(1 923)	(2 121)	(2 225)	(2 311)	(2 430)	(2 375)	(2 386)	(2 397)	(2 436)	(2 659)	(2 641)	(2 770)	(2 786)	(2 826)	(3 053)	(3 108)	(3 127)	(2 955)	(2 783)	(2 697)	(2 607)	(2 592)	(2 597)	(2 693)	(2 822)	(2 950)	(3 067)	(3 086)	(3 169)	(3 449)	(3 578)	(3 435)	(3 137)	(2 656)	(2 316)	(2 339)	(2 452)	(2 580)	(2 716)	(2 846)	(3 191)	(3 788)	(4 016)	(4 251)	(4 330)	(4 468)	(4 472)	(4 743)	(4 821)	(4 802)	(4 777)	(4 523)	(4 455)	(4 228)
Other Items	(175)	225	508	533	(839)	(1 088)	(408)	(428)	(174)	81	(635)	(415)	(1 021)	(1 677)	(3 708)	(4 319)	(3 673)	(2 630)	(884)	35	324	(399)	(663)	(449)	(429)	26	410	182	822	934	1 350	1 251	232	(440)	(341)	(796)	(96)	(148)	(608)	(940)	(1 879)	(2 154)	(2 047)	(1 883)	(1 526)	(1 343)	(2 062)	(2 445)	(1 978)	(1 712)	(1 049)	(222)	472	1 308	1 642	1 767	1 461	1 108	1 536	1 778	1 858	1 610	1 491	948	(4 243)	(4 405)	(5 014)	(5 226)	(50)	(309)	(643)	(475)	(288)	(87)	(175)	(663)	(1 450)	(2 397)	(2 452)	(3 170)	(2 965)	(3 405)	(3 887)	(4 697)	(4 357)	(3 840)	(4 288)	(4 281)	(3 820)	(4 182)	(3 036)	(1 662)	(1 488)	508	861	2 171
Cash from Investing Activities	(1 390) N/A	(903) +35%	(550) +39%	(314) +43%	(1 675) -433%	(1 855) -11%	(1 114) +40%	(997) +11%	(713) +28%	(433) +39%	(899) -108%	(1 069) -19%	(1 720) -61%	(2 392) -39%	(4 422) -85%	(5 173) -17%	(4 631) +10%	(3 679) +21%	(1 965) +47%	(1 149) +42%	(1 013) +12%	(1 792) -77%	(2 059) -15%	(1 933) +6%	(1 829) +5%	(1 356) +26%	(992) +27%	(1 426) -44%	(811) +43%	(670) +17%	(559) +17%	(57) +90%	(956) -1 578%	(1 651) -73%	(1 557) +6%	(2 109) -35%	(1 499) +29%	(1 649) -10%	(2 160) -31%	(2 621) -21%	(3 640) -39%	(3 960) -9%	(3 969) 0%	(4 004) -1%	(3 751) +6%	(3 654) +3%	(4 492) -23%	(4 821) -7%	(4 364) +9%	(4 109) +6%	(3 485) +15%	(2 881) +17%	(2 169) +25%	(1 462) +33%	(1 144) +22%	(1 059) +7%	(1 592) -50%	(2 001) -26%	(1 591) +20%	(1 177) +26%	(924) +21%	(1 087) -18%	(1 116) -3%	(1 644) -47%	(6 839) -316%	(7 098) -4%	(7 836) -10%	(8 176) -4%	(3 117) +62%	(3 395) -9%	(3 812) -12%	(3 924) -3%	(3 867) +1%	(3 522) +9%	(3 312) +6%	(3 319) 0%	(3 766) -13%	(4 736) -26%	(4 904) -4%	(5 750) -17%	(5 681) +1%	(6 251) -10%	(7 078) -13%	(8 485) -20%	(8 373) +1%	(8 091) +3%	(8 618) -7%	(8 749) -2%	(8 292) +5%	(8 925) -8%	(7 857) +12%	(6 464) +18%	(6 265) +3%	(4 015) +36%	(3 594) +10%	(2 057) +43%
Financing Cash Flow
Net Issuance of Common Stock	23	44	49	47	56	35	49	174	288	370	278	58	(167)	(546)	(573)	(765)	(869)	(676)	(930)	(972)	(899)	(1 090)	(1 192)	(1 232)	(1 523)	(1 717)	(1 613)	(1 569)	(1 156)	(667)	(311)	13	34	52	(28)	(230)	(464)	(710)	(1 122)	(1 497)	(1 653)	(1 774)	(1 758)	(1 527)	(1 137)	(948)	(928)	(1 357)	(1 801)	(2 203)	(2 260)	(2 582)	(2 719)	(2 685)	(2 753)	(2 599)	(2 144)	(1 705)	(1 123)	(169)	193	402	501	523	399	283	(205)	(741)	(967)	(1 265)	(1 243)	(1 075)	(1 043)	(882)	(480)	(419)	(639)	(1 154)	(1 911)	(2 390)	(2 721)	(2 638)	(3 168)	(3 534)	(4 158)	(4 874)	(5 775)	(7 216)	(7 308)	(7 122)	(5 780)	(4 007)	(3 120)	(2 423)	(1 916)	(1 138)
Net Issuance of Debt	1 885	1 273	775	390	1 313	1 503	1 280	897	(854)	(1 573)	(757)	(479)	588	2 437	3 408	4 110	3 785	2 202	1 272	828	754	1 713	1 404	1 247	1 163	1 236	1 515	1 322	4 786	3 241	1 463	1 068	(1 833)	(2 750)	(1 024)	(299)	(849)	1 910	1 788	2 208	3 891	4 065	5 739	6 141	4 754	4 459	2 932	2 525	2 739	2 963	3 155	3 112	2 911	2 243	2 061	1 349	722	772	(111)	(1 411)	(1 804)	(1 936)	393	4 616	5 289	5 901	5 358	2 516	3 407	3 504	2 714	2 643	1 475	5 365	2 599	528	571	(3 548)	(542)	2 450	2 224	2 913	4 786	5 765	7 647	9 573	10 945	11 524	9 346	8 339	6 102	3 008	3 840	1 770	184	(1 642)
Cash Paid for Dividends	(207)	(207)	(208)	(209)	(210)	(210)	(210)	(211)	(211)	(213)	(230)	(247)	(263)	(278)	(285)	(290)	(294)	(317)	(332)	(348)	(363)	(372)	(379)	(387)	(408)	(418)	(426)	(448)	(456)	(583)	(475)	(473)	(474)	(357)	(475)	(484)	(492)	(521)	(550)	(593)	(634)	(651)	(687)	(698)	(709)	(723)	(738)	(753)	(767)	(778)	(765)	(786)	(803)	(820)	(835)	(816)	(800)	(784)	(771)	(761)	(757)	(758)	(760)	(764)	(768)	(771)	(776)	(806)	(833)	(881)	(926)	(943)	(965)	(962)	(958)	(956)	(956)	(955)	(999)	(1 040)	(1 125)	(1 209)	(1 250)	(1 313)	(1 327)	(1 361)	(1 407)	(1 427)	(1 472)	(1 526)	(1 564)	(1 605)	(1 622)	(1 652)	(1 685)	(1 720)
Other	(3)	(3)	(2)	(2)	(2)	(1)	(1)	(2)	(1)	(1)	(1)	(0)	(0)	(1)	(1)	(2)	(2)	56	69	75	99	66	71	91	102	87	83	47	(83)	(111)	(132)	(137)	(43)	(31)	(26)	2	25	48	41	22	0	(32)	(45)	(36)	(21)	(12)	6	(9)	(22)	(27)	(36)	(33)	(50)	(52)	(49)	(72)	(77)	(75)	(84)	(65)	(69)	(75)	(78)	(88)	(90)	(92)	(91)	(93)	(97)	(105)	(109)	(116)	(124)	(141)	(144)	(133)	(126)	(107)	(103)	(98)	(100)	(89)	(80)	(92)	(98)	(109)	(73)	(73)	(64)	(62)	(118)	(113)	(93)	(71)	(68)	(79)
Cash from Financing Activities	1 698 N/A	1 107 -35%	614 -45%	226 -63%	1 157 +412%	1 326 +15%	1 118 -16%	859 -23%	(778) N/A	(1 417) -82%	(710) +50%	(669) +6%	159 N/A	1 612 +916%	2 549 +58%	3 053 +20%	2 621 -14%	1 266 -52%	79 -94%	(417) N/A	(409) +2%	318 N/A	(96) N/A	(281) -194%	(667) -138%	(812) -22%	(441) +46%	(649) -47%	3 092 N/A	1 881 -39%	545 -71%	470 -14%	(2 316) N/A	(3 085) -33%	(1 553) +50%	(1 010) +35%	(1 781) -76%	727 N/A	158 -78%	140 -12%	1 605 +1 049%	1 608 +0%	3 249 +102%	3 880 +19%	2 888 -26%	2 777 -4%	1 272 -54%	407 -68%	149 -63%	(45) N/A	93 N/A	(288) N/A	(661) -129%	(1 313) -99%	(1 576) -20%	(2 138) -36%	(2 298) -8%	(1 792) +22%	(2 089) -17%	(2 406) -15%	(2 437) -1%	(2 366) +3%	56 N/A	4 287 +7 527%	4 830 +13%	5 321 +10%	4 287 -19%	876 -80%	1 510 +72%	1 253 -17%	436 -65%	509 +17%	(657) N/A	3 380 N/A	1 017 -70%	(980) N/A	(1 150) -17%	(5 764) -401%	(3 555) +38%	(1 078) +70%	(1 722) -60%	(1 023) +41%	288 N/A	826 +187%	2 064 +150%	3 229 +56%	3 690 +14%	2 808 -24%	502 -82%	(371) N/A	(1 360) -267%	(2 717) -100%	(995) +63%	(2 376) -139%	(3 485) -47%	(4 579) -31%
Change in Cash
Effect of Foreign Exchange Rates	(17)	(8)	2	(5)	22	26	32	71	51	70	45	38	49	17	9	(19)	(37)	(15)	26	22	36	49	45	46	31	75	66	58	69	7	17	42	30	(28)	(42)	(25)	(26)	56	36	11	(14)	(43)	(55)	(39)	2	(30)	22	12	(26)	3	(13)	(74)	(145)	(152)	(219)	(187)	(116)	(31)	(17)	(13)	(19)	(73)	97	157	395	311	111	26	(185)	(155)	(69)	(56)	(44)	(123)	48	32	136	285	58	55	(122)	(206)	(194)	(224)	(88)	(44)	44	31	(15)	(44)	(100)	(37)	(140)	(12)	77	77
Net Change in Cash	2 053 N/A	2 132 +4%	2 075 -3%	1 785 -14%	1 189 -33%	708 -40%	1 430 +102%	1 570 +10%	534 -66%	(329) N/A	(421) -28%	(1 203) -186%	(1 222) -2%	61 N/A	(1 197) N/A	(923) +23%	(1 388) -50%	(1 855) -34%	(854) +54%	(571) +33%	(136) +76%	782 N/A	487 -38%	591 +21%	155 -74%	304 +96%	1 050 +245%	(67) N/A	3 508 N/A	2 509 -28%	1 492 -41%	2 440 +64%	39 -98%	(1 182) N/A	(561) +53%	(861) -53%	(1 605) -86%	335 N/A	(135) N/A	(143) -6%	(50) +65%	(930) -1 771%	(221) +76%	1 005 N/A	284 -72%	632 +123%	(307) N/A	(1 148) -274%	(484) +58%	(573) -18%	(56) +90%	283 N/A	786 +178%	1 277 +62%	1 096 -14%	375 -66%	(515) N/A	(222) +57%	190 N/A	174 -9%	430 +148%	393 -9%	2 216 +465%	4 999 +126%	25 -99%	(324) N/A	(2 641) -714%	(5 452) -106%	(324) +94%	(748) -131%	(547) +27%	(59) +89%	(13) +78%	5 418 N/A	4 818 -11%	3 216 -33%	3 354 +4%	(1 722) N/A	(661) +62%	953 N/A	(2 495) N/A	(3 302) -32%	(3 154) +4%	(3 184) -1%	(391) +88%	1 408 N/A	2 293 +63%	2 679 +17%	1 122 -58%	340 -70%	515 +51%	13 -97%	1 607 +12 262%	2 452 +53%	1 554 -37%	900 -42%
Free Cash Flow
Free Cash Flow	547 N/A	808 +48%	952 +18%	1 032 +8%	849 -18%	444 -48%	689 +55%	1 068 +55%	1 436 +34%	938 -35%	879 -6%	(158) N/A	(409) -158%	109 N/A	(46) N/A	362 N/A	(299) N/A	(475) -59%	(75) +84%	(210) -180%	(87) +59%	813 N/A	1 200 +48%	1 275 +6%	1 221 -4%	1 014 -17%	1 014 0%	341 -66%	(474) N/A	(313) +34%	(420) -34%	677 N/A	2 093 +209%	2 371 +13%	1 375 -42%	969 -29%	297 -69%	(300) N/A	278 N/A	646 +132%	239 -63%	(342) N/A	(1 368) -300%	(953) +30%	(1 080) -13%	(773) +28%	461 N/A	879 +91%	1 372 +56%	1 182 -14%	913 -23%	867 -5%	1 121 +29%	1 434 +28%	1 250 -13%	933 -25%	439 -53%	493 +12%	760 +54%	815 +7%	1 028 +26%	1 222 +19%	573 -53%	(393) N/A	(957) -144%	(1 551) -62%	(2 024) -30%	(1 128) +44%	(1 599) -42%	(1 537) +4%	(271) +82%	(37) +86%	977 N/A	2 248 +130%	3 928 +75%	4 827 +23%	5 818 +21%	6 154 +6%	5 288 -14%	5 146 -3%	2 314 -55%	1 332 -42%	639 -52%	911 +43%	1 990 +118%	2 063 +4%	2 847 +38%	4 121 +45%	4 455 +8%	4 937 +11%	5 011 +1%	4 429 -12%	4 230 -4%	4 332 +2%	4 101 -5%	3 231 -21%

Income Statement Balance Sheet Cash Flow Statement

Deere & Co
NYSE:DE

Cash Flow Statement

Cash Flow Statement
Deere & Co

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Deere & Co NYSE:DE

Cash Flow Statement

Cash Flow Statement Deere & Co

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Deere & Co
NYSE:DE

Cash Flow Statement
Deere & Co