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Operating Expense Breakdown
Details core costs like manufacturing, R&D, sales and admin, and warranty, showing how Deere invests in product development (precision agriculture, electrification) and how efficiently it runs operations. Rising materials or warranty costs can compress margins, while disciplined spending supports profitability and long-term competitiveness.Deere is clearly reallocating spend toward innovation and go‑to‑market: R&D has trended higher and SG&A remains structurally elevated around product‑launch and digital expansion cycles, underpinning new tractors, See & Spray and connectivity growth. Interest expense surged with past rate hikes but has begun to roll over, easing Financial Services and corporate cash‑flow pressure. Q2 margins were also aided by a one‑time tariff refund, so monitor whether elevated SG&A and R&D deliver durable margin upside or simply add cost as tariff and input headwinds persist.
Date | Research and Development | Selling, General, and Administrative | Other | Interest Expense |
|---|---|---|---|---|
Jun 30, 2026 | $567.00M | $1.22B | $290.00M | $710.00M |
Mar 31, 2026 | $583.00M | $1.21B | $306.00M | $712.00M |
Dec 31, 2025 | $554.00M | $972.00M | $250.00M | $719.00M |
Sep 30, 2025 | $681.00M | $1.28B | $307.00M | $762.00M |
Jun 30, 2025 | $556.00M | $1.22B | $281.00M | $794.00M |
Mar 31, 2025 | $549.00M | $1.20B | $287.00M | $784.00M |
Dec 31, 2024 | $526.00M | $972.00M | $249.00M | $829.00M |
Sep 30, 2024 | $626.00M | $1.23B | $326.00M | $870.00M |
Jun 30, 2024 | $567.00M | $1.28B | $264.00M | $840.00M |
Mar 31, 2024 | $565.00M | $1.26B | $295.00M | $836.00M |