DEERE & CO
For the period ended Oct 27, 2024. Filed Dec 12, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Dec 12, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Short-Term Borrowings
17. SHORT-TERM BORROWINGS
Short-term borrowings at the end of 2024 and 2023 consisted of:
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · 2024 · 2023 | |||||||
| Commercial paper | $4,008 | $9,100 | |||||
| Notes payable to banks | | | 377 | | 483 | | |
| Finance lease obligations due within one year | | | 33 | | | 25 | |
| Long-term borrowings due within one year | | 9,115 | | 8,331 | | ||
| Short-term borrowings | | $13,533 | | $17,939 | | ||
The weighted-average interest rates at the end of 2024 and 2023 were:
| · · · · · | ||||
|---|---|---|---|---|
| · 2024 · 2023 | ||||
| Short-term borrowings: · · · | ||||
| Commercial paper | 4.8% | 5.4% | ||
| Notes payable to banks | | 11.0% | 31.6% | |
The decrease in the weighted-average interest rates of notes payable to banks is primarily the result of Argentine peso funding representing a smaller portion of the notes outstanding.
Worldwide lines of credit were$10.9 billion at October 27, 2024, consisting primarily of:
| ● | a 364-day credit facility agreement of $5.0 billion, expiring in the second quarter of 2025, |
| ● | a credit facility agreement of $2.75 billion, expiring in the second quarter of 2028, and |
| ● | a credit facility agreement of $2.75 billion, expiring in the second quarter of 2029. |
At October 27, 2024,$6.5 billion of these worldwide lines of credit were unused. For the purpose of computing the unused credit lines, commercial paper and short-term bank borrowings were considered to constitute utilization. These credit agreements require Capital Corporation and other parts of our business to maintain certain performance metrics and liquidity targets. All requirements in the credit agreements have been met during the periods included in the consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.