DEERE & CO
For the period ended Oct 27, 2024. Filed Dec 12, 2024.
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FY2024 · Filed Dec 12, 2024
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Marketable Securities
10. MARKETABLE SECURITIES
Most marketable securities are classified as available-for-sale. Realized gains or losses are based on specific identification.
The amortized cost and fair value of marketable securities at the end of 2024 and 2023 follow:
| | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · Gross · Gross · · | |||||||||||||
| · · Amortized · · Unrealized · · Unrealized · · Fair | |||||||||||||
| · · Cost · · Gains · · Losses · · Value | |||||||||||||
| 2024 | | | | | | | | | | | | | |
| Corporate debt securities | | $445 | | $1 | | $23 | | $423 | | ||||
| International debt securities | | | 169 | | | | | | 26 | | | 143 | |
| Mortgage-backed securities* | | 193 | | | | | 28 | | 165 | | |||
| Municipal debt securities | | 78 | | | 1 | | | 5 | | 74 | | ||
| U.S. government debt securities | | | 377 | | | | | | 28 | | 349 | | |
| Total debt securities | | $1,262 | | $2 | | $110 | | | 1,154 | | |||
| Marketable securities | | | | | | | | | | | $1,154 | | |
| | | | | | | | | | | | | | |
| 2023 | | | | | | | | | | | | | |
| International equity securities | | | | | | | | | | | $3 | | |
| International mutual funds securities | | | | | | | | | | | | 101 | |
| U.S. equity fund | | | | | | | | | | | | 86 | |
| U.S. fixed income fund | | | | | | | | | | | | 32 | |
| Total equity securities | | | | | | | | | | | | 222 | |
| Corporate debt securities | | $285 | | | | | $41 | | 244 | | |||
| International debt securities | | | 5 | | | | | | 4 | | | 1 | |
| Mortgage-backed securities* | | 225 | | | | | 40 | | 185 | | |||
| Municipal debt securities | | 87 | | | | | | 12 | | 75 | | ||
| U.S. government debt securities | | | 260 | | | | | | 41 | | 219 | | |
| Total debt securities | | $862 | | | | | $138 | | | 724 | | ||
| Marketable securities | | | | | | | | | | | $946 | | |
*Primarily issued by U.S. government-sponsored enterprises.
The purchases, maturities, and sale proceeds for marketable securities during 2024, 2023, and 2022 follow:
| | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|
| · · 2024 · 2023 · 2022 · | ||||||||||
| Purchases | | $1,055 | | $491 | | $250 | | |||
| Maturities and sale proceeds | | | 832 | | | 186 | | | 79 | |
Equity Securities
Unrealized gain (loss) on equity securities during 2024 and 2023 follow:
| · · · · · · · | ||||||
|---|---|---|---|---|---|---|
| · · 2024 · 2023 · | ||||||
| Net gain recognized on equity securities | | $88 | | | | |
| Less: Net gain (loss) on equity securities sold | | | 88 | | $(1) | |
| Unrealized gain on equity securities | | $ | | | $1 | |
Debt Securities
The contractual maturities of available-for-sale debt securities at October 27, 2024 follow:
| · · · · · · · | |||||
|---|---|---|---|---|---|
| · Amortized · Fair | |||||
| · Cost · Value · | |||||
| Due in one year or less | | $28 | | $27 | |
| Due after one through five years | | 386 | | 356 | |
| Due after five through 10 years | | 456 | | 435 | |
| Due after 10 years | | 199 | | 171 | |
| Mortgage-backed securities | | 193 | | 165 | |
| Debt securities | | $1,262 | | $1,154 | |
Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Mortgage-backed securities contain prepayment provisions and are not categorized by contractual maturity.
Proceeds of available-for-sale debt securities sold or matured during 2024, 2023, and 2022 were$619,$37, and$74, respectively. Realized gains and losses on debt securities were not material in 2024, 2023, and 2022.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.