Deere & Co. (DE) 2015财年年度报告「NYSE」.pdf

1、FEET ON THE GROUNDEYES ON THE HORIZONDeere&Company Annual Report 20152Net Sales and Revenues(MM)201320142015$37,795$36,067$28,863Shareholder Value Added*(SVA)(MM)201320142015$3,390$2,694$774About the cover:“Feet on the Ground”refers to John Deeres drive for operational excellence and distinctive lev

2、els of quality in all products,including the new 9620RX 4-track tractor shown.“Eyes on the Horizon”means looking ahead and making the investments necessary to help meet the worlds growing need for food,shelter,and infrastructure.Dividends Declared(U.S.dollars per share)Worldwide net sales and revenu

3、es decreased 20%in 2015 vs.2014 mainly due to lower equipment sales.Financial Services revenues rose to$2.59 billion.?use of assets and the skillful execution of business plans,yielded another year of positive SVA performance.SVA represents?charge for capital.Deere has boosted its quarterly dividend

4、 rate 12 times since 2004,to the current level of 60 cents per share.Over this time,the company returned roughly 65%?through dividends and net share repurchases.?2013$1.99Net Income*(MM)201320142015$3,537$3,162$1,940*Net income attributable to Deere&Company.Net income was down 39%to$1.94 billion but

5、 still represented the sixth-highest total in company history.2015$2.402014$2.22Capital Expenditures+Research&Development(MM)Combined R&D expense and capital expenditures totaled$2.1 billion,demonstrating Deeres commitment to advanced?capacity.The lower level of capital spending follows several year

6、s of heavy investment in global production capacity and cleaner-burning engines.R&D Spending201320142015$2,609$2,456$2,080$1,425$655Capital Expenditures$1,477$1,132$1,452$1,0042015 IN REVIEW3John Deere in 2015 demonstrated its ability to deliver sound performance in the midst of a severe downturn in