John Deere Capital Earnings Up on Portfolio Growth

Deere & Company reported net income attributable to John Deere Capital (JDCC) was $154.2 million for Q4 and $544.2 million for the full-year 2014, compared with $132.9 million and $468.5 million for the respective periods last year.

Deere said results for the quarter improved primarily due to growth in the credit portfolio, partially offset by higher selling, administrative and general expenses. Results for the full-year improved due to growth in the portfolio and a more favorable effective tax rate, partially offset by a higher provision for credit losses and higher selling, administrative and general expenses.

Net receivables and leases financed by JDCC were $32.984 billion and $30.594 billion at October 31, 2014 and 2013, respectively.

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Terry Mulreany
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