Q4 2023 Earnings Report
Full Year 2023 Results
Total Revenue
Net Income
Adjusted EBITDA**
3106
DEERE
Net/Gross Rental Capital Expenditures
$14.332 billion (+23.1% Y/Y as
reported; 14.9% on a pro forma
basis*)
$2.424 billion (16.9% margin; -120
bps Y/Y as reported; flat on a pro
forma basis*)
$6.857 billion (47.8% margin; -50 bps
Y/Y as reported; +40 bps on a pro
form a basis*)
$1.934 billion, after gross purchases
of $3.508 billion
Net Cash Provided by Operating Activities
$4.704 billion
Free Cash Flow**
$2.314 billion*
***
* Pro forma includes the standalone, pre-acquisition results of Ahern. See the tables provided elsewhere in this presentation for reconciliations of pro forma margins to the most comparable GAAP measures.
** Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See the tables provided elsewhere in this presentation for reconciliations to the most comparable GAAP measures.
*** Excludes aggregate merger and restructuring related payments of $8 million.
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