MIRA INFORM REPORT
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Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ARCHER DANIELS MIDLAND COMPANY |
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Registered Office : |
Fortune 1000 Rank: 39, 4666 Faries Parkway,
Box 1470, Decatur, IL 62526 |
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Country : |
United States |
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Financials (as on) : |
30.06.2011 |
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Year of Establishment : |
1923 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
procuring, Transporting, Storing, Processing, and merchandising agricultural
commodities and product |
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No. of Employees
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30,700 Persons |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
$1000.000 million (USD) |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com while quoting report number, name and date.
ECGC Country Risk Classification List September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Archer Daniels Midland Company
Fortune 1000 Rank: 39
4666 Faries Parkway
Box 1470
Decatur, IL 62526
United States
Tel:
217-424-5200
Fax: 217-424-5447
Toll Free: 800-382-1070
Synthesis
Employees: 30,700
Company Type: Public Parent
Corporate Family: 371
Companies
Traded: New
York Stock Exchange: ADM
Incorporation Date: 1923
Auditor: Ernst & Young LLP
Financials in: USD
(Millions)
Fiscal Year End: 30-Jun-2011
Reporting Currency: US Dollar
Annual Sales: 80,676.0 1
Net Income: 2,036.0
Total Assets: 42,193.0 2
Market Value: 18,636.7
(25-Nov-2011)
Business Description
Archer-Daniels-Midland-Company
is engaged in procuring, transporting, storing, processing, and merchandising
agricultural commodities and products. It is a processor of oilseeds, corn,
wheat, cocoa, and other agricultural commodities and is a manufacturer of
vegetable oil, protein meal, corn sweeteners, flour, biodiesel,
ethanol, and other food and feed ingredients. It also has a grain elevator and
transportation network to procure, store, clean, and transport agricultural
commodities, such as oilseeds, corn, wheat, milo,
oats, and barley, as well as processed agricultural commodities. Its operations
are classified into three business segments: Oilseeds Processing, Corn
Processing, and Agricultural Services. It has a 50% interest in Edible Oils
Limited, a joint venture between the Company and Princes Limited to procure,
package, and sell edible oils in the United Kingdom. In January 2011, it
acquired Alimenta (USA), Inc., from Alimenta S.A. For the fiscal year ended 30 June 2011,
Archer Daniels Midland Company's revenues increased 31% to $80.68B. Net income
increased 5% to $2.04B. Revenues reflect higher income from Oilseeds Processing
segment and a rise in Corn Processing & Agricultural Services segments. Net
income was partially offset by an increase in the cost of products sold and
higher selling, general & administrative expenses.
Industry
Industry Food Processing
ANZSIC 2006: 1161 - Grain Mill
Product Manufacturing
NACE 2002: 1561 - Manufacture
of grain mill products
NAICS 2002: 311211 - Flour
Milling
UK SIC 2003: 15611 - Grain
milling
US SIC 1987: 2041 - Flour and
Other Grain Mill Products
Key Executives
(Emails Available)
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Name |
Title |
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Patricia A. Woertz |
Chairman of the Board, President, Chief Executive Officer |
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Valmor Schaffer |
President - ADM South America |
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Ray G. Young |
Chief Financial Officer, Senior Vice President |
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John D. Rice |
Vice Chairman, Executive Vice President, Commercial and Production |
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Stuart E. Funderburg |
Assistant Secretary, Assistant General Counsel |
Significant Developments
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Topic |
#* |
Most Recent Headline |
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Mergers & Acquisitions |
7 |
Archer Daniels Midland Company's Archer Daniels Midland Nederland B.V.
Completes Acquisition of Elstar Oils S.A. |
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Divestitures / Spin-offs |
1 |
First Illinois Corporation To Acquire Majority Interest In Hickory
Point Bank & Trust From Archer Daniels Midland Company |
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Strategic Combinations |
4 |
Metabolix, Inc. And Archer Daniels Midland
Company's Telles Teams With Tenova
Bioplastics On New Line Of Biobased
Film |
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Dividends |
4 |
Archer Daniels Midland Company Announces Increase in Cash Dividend |
* number of significant developments within
the last 12 months
news
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Title |
Date |
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'No chance that Solbar's
Israeli plant will be closed' |
15-Dec-2011 |
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M&A Navigator: Deal pipeline - 15
December |
15-Dec-2011 |
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DJ CBOT Grain Warehouse
Receipt/Certificates - Dec 15 |
15-Dec-2011 |
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ADM gets Poland's nod to buy out Elstar Oils |
15-Dec-2011 |
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Here is the latest Illinois news from The
Associated Press |
15-Dec-2011 |
Financial Summary
As of 30-Sep-2011
Key Ratios Company Industry
Current Ratio (MRQ) 1.88 1.53
Quick Ratio (MRQ) 1.12 0.78
Debt to Equity (MRQ) 0.52 1.14
Sales 5 Year Growth 17.13 6.97
Net Profit Margin (TTM) % 2.49 7.06
Return on Assets (TTM) % 5.52 7.05
Return on Equity (TTM) % 12.75 21.45
Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
4666 Faries Parkway
Box 1470
Decatur, IL, 62526
Macon County
United States
Tel: 217-424-5200
Fax: 217-424-5447
Toll Free Tel: 800-382-1070
Web: www.adm.com
Quote Symbol - Exchange
ADM - New York
Stock Exchange
Sales USD(mil): 80,676.0
Assets USD(mil): 42,193.0
Employees: 30,700
Fiscal Year End: 30-Jun-2011
Industry: Food
Processing
Incorporation Date: 1923
Company Type: Public
Parent
Quoted Status: Quoted
Chairman of the Board,
President,
Chief Executive Officer: Patricia
A. Woertz
Company Web Links
Corporate History/Profile
Employment Opportunities
Executives
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Product Codes
Brand/Trade Names
Financial Data
Market Data
Key Corporate Relationships
Additional Information
Industry Codes
ANZSIC 2006 Codes:
1150 - Oil and Fat Manufacturing
1161 - Grain Mill Product Manufacturing
1182 - Confectionery Manufacturing
NACE 2002 Codes:
1584 - Manufacture of cocoa, chocolate and sugar confectionery
1562 - Manufacture of starches and starch products
1543 - Manufacture of margarine and similar edible fats
1561 - Manufacture of grain mill products
1541 - Manufacture of crude oils and fats
NAICS 2002 Codes:
311211 - Flour Milling
311221 - Wet Corn Milling
311222 - Soybean Processing
311320 - Chocolate and Confectionery Manufacturing from Cacao Beans
311225 - Fats and Oils Refining and Blending
US SIC 1987:
2079 - Shortening, Table Oils, Margarine, and Other Edible Fats
and Oils, Not Elsewhere Classified
2041 - Flour and Other Grain Mill Products
2066 - Chocolate and Cocoa Products
2075 - Soybean Oil Mills
2046 - Wet Corn Milling
UK SIC 2003:
15611 - Grain milling
1543 - Manufacture of margarine and similar edible fats
1562 - Manufacture of starches and starch products
15841 - Manufacture of cocoa and chocolate confectionery
1541 - Manufacture of crude oils and fats
Business Description
Archer-Daniels-Midland-Company,
incorporated in 1923, is engaged in procuring, transporting, storing,
processing, and merchandising agricultural commodities and products. The
Company is a processor of oilseeds, corn, wheat, cocoa, and other agricultural
commodities and is a manufacturer of vegetable oil, protein meal, corn
sweeteners, flour, biodiesel, ethanol, and other food
and feed ingredients. The Company also has a grain elevator and transportation
network to procure, store, clean, and transport agricultural commodities, such
as oilseeds, corn, wheat, milo, oats, and barley, as
well as processed agricultural commodities. Its operations are classified into
three business segments: Oilseeds Processing, Corn Processing, and Agricultural
Services. The Company has a 50% interest in Edible Oils Limited, a joint
venture between the Company and Princes Limited to procure, package, and sell
edible oils in the United Kingdom. It also formed a joint venture with Princes
Limited in Poland to procure, package, and sell edible oils in Poland, Czech
Republic, Slovakia, Hungary, and Austria. In January 2011, the Company acquired
Alimenta (USA), Inc., from Alimenta
S.A.
Oilseeds Processing
The Oilseeds
Processing segment includes activities related to the origination,
merchandising, crushing, and further processing of oilseeds, such as soybeans
and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed)
into vegetable oils and protein meals. Oilseeds products produced and marketed
by the Company include ingredients for the food, feed, energy, and other
industrial products industries. Crude vegetable oils produced by the segment’s are sold as is or are further processed by
refining, blending, bleaching, and deodorizing into salad oils. Salad oils are
sold as is or are further processed by hydrogenating and/or interesterifying
into margarine, shortening, and other food products. Partially refined oils are
used to produce biodiesel or are sold to other
manufacturers for use in chemicals, paints, and other industrial products.
Oilseed protein meals are sold to third parties to be used as ingredients in
commercial livestock and poultry feeds.
The Oilseeds
Processing segment produces natural health and nutrition products and other
food and feed ingredients. In North America, cottonseed flour is produced and
sold primarily to the pharmaceutical industry and cotton cellulose pulp is
manufactured and sold to the chemical, paper, and filter markets. In Europe and
South America, the Oilseeds Processing segment includes origination and
merchandising activities of a network of grain elevators, port facilities, and
transportation assets used to buy, store, clean, and transport agricultural
commodities, as adjuncts to its oilseeds processing assets. In South America,
the Oilseeds Processing segment operates fertilizer blending facilities.
The Company has a
16.4% ownership interest in Wilmar International
Limited (Wilmar), a Singapore publicly listed
company. Wilmar, is a agribusiness group in Asia, is
engaged in the businesses of oil palm cultivation, oilseeds crushing, edible
oils refining, sugar, consumer pack edible oils processing and merchandising,
specialty fats, oleo chemicals, biodiesel,
fertilizers and soy protein manufacturing, rice and flour milling, and grains
merchandising. Stratas Foods LLC, a joint venture
between the Company and ACH Jupiter, LLC, a subsidiary of Associated British
Foods, procures, packages, and sells edible oils in North America. The Company
has a 50% ownership interest in this joint venture. The Company is a supplier
of agricultural commodity raw materials to Wilmar,
Edible Oils Limited, and Stratas Foods LLC.
Corn Processing
The Company’s Corn Processing segment is engaged in corn wet
milling and dry milling activities, primarily located in the United States. The
Corn Processing segment converts corn into sweeteners, starches and bioproducts. Its products include ingredients used in the
food and beverage industry, including sweeteners, starch, syrup, glucose, and
dextrose. Dextrose and starch are used by the Corn Processing segment as feedstocks for its bioproducts
operations. By fermentation of dextrose, the Corn Processing segment produces
alcohol, amino acids, and other specialty food and animal feed ingredients.
Ethyl alcohol is
produced by the Company for industrial use as ethanol or as beverage grade. Bioproducts also include amino acids, such as lysine and threonine that are compounds used in swine feeds to produce
leaner animals and in poultry feeds. Corn gluten feed and meal, as well as distillers grains, is produced for use as animal feed
ingredients. Corn germ, a by-product of the wet milling process, is further
processed into vegetable oil and protein meal. Other Corn Processing products
include citric and lactic acids, lactates, sorbitol, xanthan gum and glycols, which are used in various food and
industrial products. The Corn Processing segment includes the activities of the
Company’s Brazilian sugarcane operations, propylene
and ethylene glycol facility, and investments in renewable plastics.
Almidones Mexicanos S.A., in which the Company has a 50% interest,
operates a wet corn milling plant in Mexico. Eaststarch
C.V. (Netherlands), in which the Company has a 50% interest, owns interests in
companies that operate wet corn milling plants in Bulgaria, Hungary, Slovakia,
and Turkey. The Company has a 50% interest in Telles,
LLC (Telles), a joint venture between the Company and
Metabolix Inc. Red Star Yeast Company, LLC produces
and sells fresh and dry yeast in the United States and Canada. The Company has
a 40% ownership interest in this joint venture.
Agricultural Services
The Agricultural
Services segment utilizes its United States grain elevator and global
transportation network to buy, store, clean, and transport agricultural
commodities, such as oilseeds, corn, wheat, milo,
oats, rice, and barley, and resells these commodities primarily as food and
feed ingredients and as raw materials for the agricultural processing industry.
Agricultural Services transportation network
capabilities include truck, rail, barge, port, and ocean-going vessel handling
and freight services. The Agricultural Services segment also includes the
activities related to the processing and distributing of formula feeds and
animal health and nutrition products, and the procuring, processing, and
distributing of edible beans. Alfred C. Toepfer
International (Toepfer), in which the Company has an
80% interest, is a global merchandiser of agricultural commodities and
processed products. Toepfer has 36 sales offices
worldwide and operates inland, river, and export facilities in Argentina,
Romania, Ukraine, and the United States. The Company has a 45% interest in
Kalama Export Company, a grain export elevator in Washington.
Other
Other includes the
Company’s remaining processing operations,
consisting of activities related to processing agricultural commodities into
food ingredient products, such as wheat into wheat flour, and cocoa into
chocolate and cocoa products. Other also includes financial activities related
to banking, captive insurance, futures commission merchant activities, and
private equity fund investments. Gruma S.A.B. de C.V.
(Gruma), in which the Company has a 23.2% interest,
is the producer and marketer of corn flour and tortillas with operations in
Mexico, the United States, Central America, South America, and Europe. In
addition, it has a 20% share, through a joint venture with Gruma,
in six United States corn flour mills and one in Italy. It also has a 40%
share, through a joint venture with Gruma, in nine
Mexican wheat flour mills. Hickory Point Bank and Trust Company, fsb (Bank), a wholly owned subsidiary of the Company,
furnishes public banking and trust services, as well as cash management,
transfer agency, and securities safekeeping services, for the Company
More Business Descriptions
Archer-Daniels-Midland-Company
is engaged in procuring, transporting, storing, processing, and merchandising
agricultural commodities and products. It is a processor of oilseeds, corn,
wheat, cocoa, and other agricultural commodities and is a manufacturer of
vegetable oil, protein meal, corn sweeteners, flour, biodiesel,
ethanol, and other food and feed ingredients. It also has a grain elevator and
transportation network to procure, store, clean, and transport agricultural
commodities, such as oilseeds, corn, wheat, milo,
oats, and barley, as well as processed agricultural commodities. Its operations
are classified into three business segments: Oilseeds Processing, Corn
Processing, and Agricultural Services. It has a 50% interest in Edible Oils
Limited, a joint venture between the Company and Princes Limited to procure,
package, and sell edible oils in the United Kingdom. In January 2011, it
acquired Alimenta (USA), Inc., from Alimenta S.A. For the fiscal year ended 30 June 2011,
Archer Daniels Midland Company's revenues increased 31% to $80.68B. Net income
increased 5% to $2.04B. Revenues reflect higher income from Oilseeds Processing
segment and a rise in Corn Processing & Agricultural Services segments. Net
income was partially offset by an increase in the cost of products sold and
higher selling, general & administrative expenses.
Establishments
primarily engaged in manufacturing cottonseed oil, cake, meal, and linters, or
in processing purchased cottonseed oil other than into edible cooking oils.
ADM - Archer
Daniels Midland Company (USA) is a world leader in agricultural processing and
one of the world's largest processors of soybeans, corn, wheat and cocoa. The
company is also a leader in the production of soy meal and oil, ethanol, corn
sweeteners and flour. In addition, ADM produces value-added food and feed
ingredients.
Archer Daniels
Midland is one of the world's largest agricultural processors of soybeans,
corn, wheat and cocoa. The company works with farmers across the world to turn
these crops into soy meal and oil, corn sweeteners, flour, cocoa and chocolate,
ethanol and biodiesel, as well as a wide portfolio of
other value-added food ingredients, animal nutrition and industrial products.
The company's global transportation network, from Topeka, Kan., to Taiwan, and
its facilities around the world combine to allow it to grow things where they
grow best, and sell things where they're needed most. Founded in 1902 and
incorporated in 1923, Archer Daniels Midland is headquartered in Decatur, Ill.,
and operates processing and manufacturing facilities throughout the world.
Provider of
agricultural processing services and manufacturer of food additives and
ingredients. Agricultural processing services include the processing of
soybeans, corn, wheat and cocoa. Products manufactured include soy meal, oil,
ethanol, high fructose corn syrup (HFCS) and flour. In addition, the company is
building a position in such value-added products as specialty food ingredients,
bioproducts and nutraceuticals
(such as Vitamin E and sterols). Parent/holding company with high-tech units
involved in bioprocessing, food and feed ingredient,
and health and nutritional product processing services. Products and services
are sold to the food industry.
Product Codes
Product Code Product Description
BIO-SV-LB Bioprocessing
services
CHE-AP-D Food additives
PHA-VI Vitamins
ZZZ-HC Parent/Holding company
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Strategic Initiatives
Key Organizational Changes
In 2010, we
commenced operations at our new ethanol plants in Columbus, Nebraska, and Cedar
Rapids, Iowa. Production at our Clinton, Iowa, renewable plastics plant is now
under way, and our propylene glycol operation in Decatur, Illinois, is
projected to be online by the end of the 2010 calendar year. In Agricultural
Services, we continued expanding our global transportation capabilities with
the acquisition of seven dry-bulk vessels—affording
ADM the option of using its own assets to cost-effectively transport our
products to any port, anywhere in the world. We improved our ability to
transport both raw materials and finished products along South America’s inland waterways by adding origination assets,
barges and tugboats. And we are continuing to expand destination-market
opportunities in the Middle East, Asia and Africa while growing our crop
origination capacity in Europe and North America.
In addition, the
company acquired five oceangoing dry-bulk commodity vessels, ranging in length
between 179 and 225 meters (587 and 738 feet). The five carriers - one Handy,
one Handymax, a Supermax
and two Panamax vessels provide cargo-carrying
capacity between 36,000 tons and 67,000 tons and will transport all types of
grain, grain products and bulk commodities to and from ports in Europe, South
America, Asia and other parts of the world. Furthermore, the company is
expanding its European oilseed processing capabilities with the acquisition of ViaChem Group's oilseed processing assets in Olomouc, Czech Republic. This facility, in the Eastern part
of the Czech Republic, consists of an oilseed crushing, refining and biodiesel plant that produces oil and meal for the food,
feed and energy markets. Such acquisitions will offer a steady revenue source
as well as various cost benefits apart from geographical expansion to the company.Competitive LandscapeADM
is exposed to intense competition as its products are price competitive and
product substitutions are available in the market.
Partnerships
In our cocoa
processing operations, which are included in our Other business segment, we
opened a new cocoa plant in Kumasi, Ghana, and
successfully integrated the Schokinag operations we
acquired in 2009. These efforts enhance our position as a preferred supplier of
cocoa and chocolate products to large food and beverage manufacturers
worldwide. At the end of the fiscal year, we announced that ADM would advance
our strategy for profitable growth in China with an investment in the
Agricultural Bank of China and the opening of a Beijing office. We anticipate
that these strategic actions in one of the world’s
fastest-growing agricultural markets will enable ADM to capitalize on growth
opportunities throughout the region. Building Capacity to Grow, Change and Lead
Strengthening our company’s internal capacity to
create value is an ongoing process.
Resource Management
In 2010, the ADM
team delivered another good year. Our 29,000 employees around the world worked
hard each day to achieve the strong financial results that ensure we are able
to continue serving vital global needs for food and energy. And, because the
need for our food, feed, energy and industrial products is so vital, and will
grow with the growing world population, we worked equally hard to advance our
profitable growth strategy. Inspired by our purpose of serving vital needs, our
team once again leveraged ADM’s acumen and global
asset network to maximize value, execute strategic acquisitions and complete
important capital projects. And as we look ahead, we commit to growing value
for ADM stockholders.
Sales and Distribution
Previously, he was
president of the specialty food ingredients business and held various business
and sales management positions in the company's corn business unit. He received
a bachelor's degree in business management from Bradley University and a
master's degree in business administration from Illinois State University. Lutt, president, milling, joined ADM in 2002 with the
acquisition of Minnesota Corn Processors. Within ADM's
Corn business unit, he served as general manager, specialty feed ingredients;
and vice president, corn processing. In 2009, he was named adviser to the
office of the chairman.
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Helpful |
Harmful |
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Internal Origin |
Strengths
Broad Spectrum
of Support Services
Strategic
Location of Manufacturing Facilities |
Weaknesses |
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External Origin |
Opportunities
Focus on
Lucrative Asian Markets |
Threats |
Overview
Archer Daniels
Midland Company (ADM) engages in procuring, transporting, storing, processing,
and merchandising agricultural commodities and products. The company operates
globally and has presence in key growth markets. Its diversified business model
ensures consistent and a profitable cash flow. However, declining performance
of the company’s key segments is a serious area of
concern to the company. Nonetheless, the company could explore several new
opportunities amidst the growing alternative energy as well as food markets.
Further, the company’s strategic acquisitions and
new expansions would ensure its progress. However, growing competition in its
operational markets could challenge the company in achieving growth with ease.
Strengths
Efficient Resource Management
ADM represented
efficient use of its resources compared to other companies in the S&P 500
index in 2010. For the fiscal year ended 2010, ADM's
return on equity (ROE) was 13.2%, as compared to 12.36% in 2009. This was above
the S&P 500 companies average* of 4.5%. Its
return on assets (ROA) increased to 6.12% in 2010, from 5.33% in the previous
year. ADM incurred net profit of $1,930m during the fiscal year ended 2010, an
increase of 14.61% over that in 2009. A higher than S&P 500 companies
average* ROE accompanied with increase in ROA, and net profit implies that the
company is efficiently using the shareholders' money and that it is generating
high returns for its shareholders compared to other companies in the S&P
500 index.
Broad Spectrum of
Support Services
Through its broad
spectrum of supporting services, ADM has gained a strong market position and
widened its goodwill. ADM offers a broad spectrum of support services. To
integrate ADM ingredients into formulations and products, manufacturers make
use of the company’s ‘Culinary
Center. In addition, ADM’s
Sensory Testing Group provides complete product and ingredient testing
services. Furthermore, the company offers other support services such as food
processing training and techniques, nutritional assistance, co-Development and
-innovation, application support, pilot processing support, analytical support,
regulatory information and other technical support services. The company’s broad product portfolio coupled with wide range
of support services helps it to gain customer preference, sustain, and
gradually expand in the market.
Strategic Location of Manufacturing Facilities
Strategic location
of manufacturing facilities helps the company in reducing costs on logistics
and also helps it to reduce business risk specific to country/continent. The company’s infrastructure helps it to maintain a strong
footprint in the global market and also contribute to its expansion. ADM has
operations across the globe covering North America, Latin America, Europe, Asia
Pacific region, and Africa. In the US, ADM has a presence across 40 states and
is operating manufacturing, sales, and distribution facilities along with a
network of country elevators. In Canada, ADM is active in originating,
transporting, and processing of wheat, durum, and oilseeds at facilities from
Medicine Hat to Montreal. In addition, ADM carries the production of chocolate,
lecithin, malt and animal feeds at its plants across Canada. In Latin America,
ADM operates wheat milling and premix manufacturing facilities. In addition,
the company holds soybean crushing plants, a network of elevators, and Atlantic
coast export facilities as well as cocoa processing in South America.
Furthermore, ADM holds several oilseed crushing facilities across Europe. In
the Asia Pacific region, the company has facilities for cocoa bean processing,
feed premixes, wheat milling, vegetable oil refining and packaging and corn
processing. Currently, ADM also maintains a cocoa bean processing facility on
the Ivory Coast.
Portfolio of
Multiple Products
ADM has wide range
of products serving diverse industries that enables it to enjoy a diverse
customer base. The company’s business model focuses
on serving diverse industries such as Food, Feed, Biofuel,
and Industrial such as Construction, Household Products, Industrial Chemicals,
Mining & Drilling, Packaging, Paints & Coatings, Personal Care, Bioplastics, and Pulp & Paper. The company offers a
variety of essential food ingredients for food manufacturers across the globe.
It also provides nutritional products for animal industry as well as
alternative transportation fuels such as biodiesel
and ethanol for biofuel industry. In addition, the
company provides modified vegetable-based oils for a new generation of wood
preservatives for construction industry; intermediate products for formulation
of detergents, cleaners and other household products; ethanol as alternative to
detergent phosphates for chemical industry; mud-thickening OptiXan
xanthan gum and emulsifiers for Mining &
Drilling; specialty starches for paper & packaging industry; natural-based
products to the paints and coatings industry; and natural antioxidants and soya ingredients for personal care industry. Diverse
customer base helps the company to mitigate volatility in demand for its
products in any specific industry as well as endows it continuous cash flow.
Robust Research
and Development Activity
ADM has active
participation in the research and development (R&D) activity to improve its
products and services, which will help enhance its competitive position. The
company's R&D operations are more concentrated on developing biofuel, food, feed, and industrial products from
renewable, agricultural crops. Since its inception, the company has introduced
several breakthrough products and technologies and also utilizes customer
feedback/suggestion. It spends significant amount of its revenue towards it
R&D every year. ADM had spent $56m, $50m, and $49m for the fiscal years
ended 2010, 2009, and 2008, respectively. The company has a joint research project
with Argonne National Laboratory on the development of a separate bioreactor.
The company is operating a research laboratory in Decatur, Illinois, where it
carries development activities for its product and process. Further, the
company has entered into a joint development agreement with John Deere and
Monsanto to understand the potential of corn stover
as a biomass feedstock for advanced bio-fuels. Recently, the company's joint
venture launched Mirel F3002, a thermoforming grade
for use in food contact applications. The company’s
continuous focus on R&D activity enables it to innovate and gain specific
industry attention, which gives a competitive advantage.
Weaknesses
Litigations and Legal Proceedings
Involvement in
litigations leading to legal proceedings will incur additional costs to the
company affecting its profitability. On October 22, 2010, workers at an Iowa
plant have sued the company claiming that the company has not paid them for
time spent (overtime) donning and doffing required uniforms and anticipating
more than $7m in back wages and unpaid benefits. Litigations like this will
tarnish the company’s goodwill and would negatively
impact the investor’s confidence in the market.
Declining Performance of Key Business Segments
A poor performance
of the business segments directly affects the company’s
cash flow and hence revenue. For the fiscal year ended 2010, the company’s Oilseeds Processing segment contributed
$23,058m, a decline of 5.95% over that in 2009. This decline in contribution
was primarily due to the low average selling prices for soybeans, protein meal,
refined oil, and biodiesel. The company’s
Agricultural Services segment accounted for $25,440m, a decrease of 19.45% over
that in 2009. The decline in the segment was due to the year over year decline
in underlying commodity prices, and lower sales volumes. This resulted in the
decline of the company’s revenues in 2010. For the
fiscal year ended 2010, ADM reported revenues of $61,682m, a decrease of 10.87%
over that in 2009. In addition, the company’s
operating profit was $2,370m for the fiscal year ended 2010, a decrease of
11.47% over that in 2009. This indicates inefficient cost management and a weak
pricing strategy of the company. Declining financial performance, if not
revived, will adversely affect the company’s market
share.
Opportunities
Focus on Lucrative Asian Markets
Through expansion,
the company could promote its growth in the emerging countries. Expansion in
the emerging countries will help the company to reduce business risk and
increase its revenue. In spite of the global economic slowdown, the emerging
and developing economies recorded a GDP growth rate of 8.1%, 5.6% and 1.2%
during 2007, 2008 and 2009, respectively. Growth in the East Asia and Pacific
region (especially China) as well as in South Asia (especially India) has been
resilient. Further, China’s GDP grew at 8.7% while
India grew at 6.1% in 2009. Such growing economy provides new opportunities and
encourages spending since income also grows with it. Further, the Indian Snacks
and Food industry is poised to grow by a whopping 42.5% from USD 181 billion
presently to USD 258 by 2015 and by 76% to USD 318 billion by 2020, While the
market in china is expected to be around USD 717 billion making these two
countries lucrative for ADM.
Growing Market for
Foodservices
The company could
benefit from the growing restaurant industry. According to National Restaurant Association’s (NRA) 2010 restaurant industry forecast
report, the foodservice sales are projected to reach USD 580 billion (EUR 411
billion) in 2010, an increase of 2.5% from 2009. NRA also projected that the
job growth is expected to resume in 2010 and is forecasted to add 1.3 million
career and employment opportunities by 2020. Further, according to NRA, the
consumers are likely to seek value, convenience and expanded menu options in
2010. It is also estimated that consumers will spend approximately 48% of their
food budget in restaurants; this industry is considered to be a major part of
Americans' lifestyle. In addition, the sales at full service restaurants are
projected to reach USD 184.2 billion in 2010, an increase of 1.2% over that in
2009. While, the sales of Quick service restaurants are projected to reach USD
164.8 billion in 2010, an increase of 3% from that in 2009. As the company is
one of the leading supplier of essential food ingredients, it could capitalize
on this demand and drive its top line growth.
Strategic Acquisitions
Strategic
acquisitions offer a strong growth opportunity to the company, especially while
foraying new markets or launching new products or services. The company
acquired Schokinag-Schokolade-Industrie Herrmann GmbH
& Co. KG (Schokinag-Schokolade) in 2009. Schokinag-Schokolade is one of Europe’s
leading producers of industrial chocolate and cocoa powder. The company through
its acquisition covers the entire cocoa and chocolate value-chain. It acquired
manufacturing facilities in Mannheim and in Manage, Belgium as well as sales
offices in Ludlow, England; and Bakersfield, Calif. This acquisition will
strengthen its position in Europe, the world’s
largest chocolate market. It will also gain significant market share in the
growing chocolate market and realize significant efficiencies in sourcing,
operations and transportation. In addition, the company acquired five
oceangoing dry-bulk commodity vessels, ranging in length between 179 and 225
meters (587 and 738 feet). The five carriers - one Handy, one Handymax, a Supermax and two Panamax vessels provide cargo-carrying capacity between
36,000 tons and 67,000 tons and will transport all types of grain, grain
products and bulk commodities to and from ports in Europe, South America, Asia
and other parts of the world. Furthermore, the company is expanding its
European oilseed processing capabilities with the acquisition of ViaChem Group's oilseed processing assets in Olomouc, Czech Republic. This facility, in the Eastern part
of the Czech Republic, consists of an oilseed crushing, refining and biodiesel plant that produces oil and meal for the food,
feed and energy markets. Such acquisitions will offer a steady revenue source
as well as various cost benefits apart from geographical expansion to the
company.
Rising Demand for Biofuels
With the
increasing demand for petroleum and depleting oil reserves, the US crude oil
consumption is expected to rise to 25.8 million barrels per day (bpd) by 2020.
The increase in crude oil demand leads to the development of renewable energy
sources namely wind energy, geothermal energy and biodiesel.
In addition, mandated blending, several new biofuels targets
and plans are also defining the future levels of biodiesel
use. In about 17 countries and about 36 states/provinces in the US have
mandates for blending biofuels into vehicle fuels.
Driven by policy support, the global markets for biodiesel
have currently entered a phase of rapid, transitional growth leading to both
uncertainty as well as opportunity. Furthermore, the US Government is
estimating a production of 144,000 million liters of Biofuels
by 2020. Currently, the company owns and operates six biodiesel
plants and is constructing two plants in Cedar Rapids and Columbus with 400
million gallons of annual production capacity. The two new plants will increase
company’s ethanol production from 450 million
gallon to 1.65 billion gallons. With its increasing production capacity, the
company could capture a significant biodiesel market.
New Expansion Plans
The company could
significantly benefit from its new expansion plans. The company spent
approximately $6.7 billion for construction of new plants, expansions of
existing plants over the last five years. In addition, the company is
constructing two more dry corn milling plants, which will increase its annual
ethanol production capacity to 1.7 billion gallons, an increase of 550 million
gallons. Besides, the company is constructing a polyhydroxy
alkanoate (PHA) natural plastics production facility,
a propylene/ethylene glycol production facility in the US; two coal
co-generation facilities; and foreign cocoa processing facilities. The company
is expected to finish its plants in the next two fiscal years. Furthermore, the
company plans to spend approximately $1.6 billion to construct all these facilities
and other approved capital projects over the next four years.
Threats
Fluctuations in Energy Prices
The company’s operating costs and selling prices of finished
products fluctuate according to the energy price changes. The company’s processing plants are powered by electricity,
natural gas, and coal. In addition, AMD’s
transportation operations are dependent upon diesel fuel and other petroleum
products. Thus the increase in the cost of these items negatively impacts the company’s production costs and operating results.
Regulatory
Obligations
The company is
subject to numerous laws and regulations globally which could adversely affect
its profitability. The company is required to comply with the numerous and
broad reaching laws and regulations administered by the federal, state, local,
and foreign governmental agencies relating to, but not limited to, the
sourcing, transporting, storing, and processing of agricultural raw materials
as well as the transporting, storing and distributing of related agricultural
products, including commercial activities conducted by company’s
employees and third parties globally. The company is also subjected to the
provisions relating to the discharge of materials into the environment,
protection of the environment and to the health and safety of its employees. By
the USDA and the United States Food and Drug Administration the chicken, beef,
pork and prepared foods products of the company are subject to inspection prior
to distribution. The company could be subject to civil remedies, including
fines, injunctions, recalls or asset seizures as well as potential criminal
sanctions if it does not meet the latest laws, regulations and accounting
standards. The company cannot meet current product demand or introduce new
products or build new facilities or acquire new businesses if it fails to
obtain these permits or registrations.
Competitive Landscape
ADM is exposed to
intense competition as its products are price competitive and product
substitutions are available in the market. The company has ever threat from
several big companies in one or more regions and product categories. The company’s possible competitors include Bunge, Cargill, Corn Products International, Barry Callebaut and Tate & Lyle. At the same time, the
company is also competing with local suppliers, processors and distributors and
farm cooperatives. This increased competition restricts its market share and
negatively affects its revenues and operating results. For instance, in the biofuel industry, the construction of new biofuel plants and the expansion of existing plants could
lead to a significant rise in production capacity levels in forthcoming years
in the EU. The government is focusing on making alternate energy a lucrative
option by offering various incentives and tax benefits. The increasing
incentives and support form the government has drawn several players into the biodiesel market. The company not only competes with bioethanol producers in Europe, but also with other global
players who supply biodiesel to the European market
at favorable prices. Intense competition in the market is likely to put
pressure on the company’s product prices and
margins. The company has to update its technology regularly and carry out its
operations efficiently to sustain in such a highly competitive industry.
Credit Report as of 02/01/2011
|
Location |
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4666 E Faries
Pkwy Ste: 1 |
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|
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County: |
Macon |
|
MSA: |
Decatur, IL |
|
|
|
|
Phone: |
217-424-5200 |
|
Fax: |
217-424-2572 |
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Toll Free: |
800-382-1070 |
|
URL: |
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|
ABI: |
007502875 |
|
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|
Annual Sales: |
$80,676,000,000 (USD) |
|
Employees: |
30,700 |
|
|
|
|
Facility Size(ft2): |
40,000+ |
|
|
|
|
Business Type: |
Public |
|
Location Type: |
Headquarter |
|
|
|
|
Ticker: |
|
|
Recommended
Credit Limit * |
|
|
$100,000 (USD) |
|
|
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|
Primary Line of
Business: |
|
|
SIC: |
2074-03 - Oil Seeds (Mfrs) |
|
NAICS: |
311223 - Other Oilseed Processing |
|
Secondary Lines
of Business: |
|
|
NAICS: |
541613 - Marketing Consulting Svcs |
|
|
311222 - Soybean Processing |
|
|
311320 - Confectionery Mfg From Cacao Beans |
|
|
523910 - Misc Intermediation |
|
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311225 - Fats & Oils Refining & Blending |
|
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493130 - Farm Prod Warehousing & Storage |
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SICs: |
2041-05 - Food Products-Reconditioning (Mfrs) |
|
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2041-02 - Milling (Mfrs) |
|
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2041-07 - Mills-Flour Oat & Bran (Mfrs) |
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2041-03 - Flour-Prepared (Mfrs) |
|
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2041-06 - Corn Mills (Mfrs) |
|
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2041-01 - Flour Mills (Mfrs) |
|
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2044-01 - Rice Mills (Mfrs) |
|
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2066-02 - |
|
|
2066-01 - Chocolate & Cocoa-Manufacturers |
|
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2074-02 - Cotton Oil Mills (Mfrs) |
|
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2075-98 - Soybean Oil Mills (Mfrs) |
|
|
2076-98 - Veg Oil Mills-Ex Corn Soybean
(Mfrs) |
|
|
4212-13 - Grain Hauling |
|
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4221-01 - Grain Elevators |
|
|
6799-98 - Venture Capital Companies |
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8742-13 - Marketing Programs & Services |
|
|
9999-66 - Federal Government Contractors |
|
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311212 - Rice Milling |
|
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311211 - Flour Milling |
|
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484220 - Other Specialized Trucking, Local |
Table of Contents
Profile Links
Similar Businesses in the Area
Closest Neighbors
External Links
http://adm.com
Stock Quote (ADM)
Similar Businesses in the Area *
Bunge Oilseed Processing Division
11720 Borman Dr
St Louis, MO 63146-4129
Bunge Oilseed Processing
234 S Jefferson St
Delphos, OH 45833-1820
CHS Oilseed
Processing
1833 130th St
Fairmont, MN 56031-1329
Rawhide Seeds
113 Martin Luther King Dr
Whiteville, TN 38075
Bunge Oilseed Processing
203 34th St
Cairo, IL 62914-1103
Bunge North America
19560 Bunge Ave
Council Bluffs, IA 51503-6591
Bunge Oilseed Processing
701 E 6th Ave
Emporia, KS 66801-3405
CHS Oilseed
Processing
2020 S Riverfront Dr
Mankato, MN 56001-1613
Bunge North America
605 Goodrich Rd
Bellevue, OH 44811-1142
Bunge Corp
321 E North St
Danville, IL 61832-5888
* Similar Businesses are
defined as the closest businesses sharing the same six-digit primary SIC code (
2074-03 - Oil Seeds (Mfrs)) regardless of size.
Closest Neighbors
Kopetz Manufacturing Inc
1500 N Country Club Rd
Decatur, IL 62521-1899
J E Merritt
Construction Inc
4666 E Faries Pkwy
Decatur, IL 62526-5630
Miracle Temple
Church Of God
1290 N Hillcrest Dr
Decatur, IL 62526-5767
Walston Auto Wrecking
4148 E Faries Pkwy
Decatur, IL 62526-5653
Decatur Gun Club
61 Faries Park
Decatur, IL 62526-5614
C C Fire Equipment Co
4377 E Faries Pkwy
Decatur, IL 62526-5661
Disabled American
Veterans
1700 N Lake Shore Dr
Decatur, IL 62526-5770
|
Corporate
Family |
Corporate
Structure News: |
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Archer Daniels
Midland Company |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Decatur, IL |
United States |
Food Processing |
80,676.0 |
30,700 |
|
|
|
Acquisition of Elstar
Oils S.A. proposed/announced.See corporate
structure news on Archer Daniels Midland Company for details |
|||||||
|
Branch |
Clinton, IA |
United States |
Food Processing |
465.0 |
515 |
|
|
|
Branch |
Columbus, NE |
United States |
Food Processing |
531.6 |
400 |
|
|
|
Branch |
Quincy, IL |
United States |
Crops |
904.5 |
325 |
|
|
|
Subsidiary |
Hamburg |
Germany |
Investment Services |
9,543.8 |
320 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Crops |
5,364.3 |
128 |
|
|
|
Subsidiary |
Jakarta Pusat, West Java |
Indonesia |
Food Processing |
|
100 |
|
|
|
Subsidiary |
Ho Chi Minh, Ho Chi Minh |
Viet Nam |
Crops |
|
50 |
|
|
|
Subsidiary |
Taipei City, Taipei City |
Taiwan |
Crops |
|
10 |
|
|
|
Subsidiary |
Bangkok, Bangkok |
Thailand |
Crops |
|
|
|
|
|
Subsidiary |
Ciudad De Buenos Aires, Ciudad De Buenos Aires |
Argentina |
Food Processing |
782.0 |
55 |
|
|
|
Subsidiary |
Madrid |
Spain |
Crops |
347.0 |
21 |
|
|
|
Subsidiary |
Hamburg, Hamburg |
Germany |
Personal Services |
110.1 |
3 |
|
|
|
Subsidiary |
Rotterdam |
Netherlands |
Chemical Manufacturing |
12,893.3 |
|
|
|
|
Subsidiary |
Watford |
United Kingdom |
Crops |
485.0 |
22 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Crops |
119.8 |
14 |
|
|
|
Branch |
Cedar Rapids, IA |
United States |
Food Processing |
271.8 |
301 |
|
|
|
Subsidiary |
Quincy, IL |
United States |
Food Processing |
1,750.0 |
300 |
|
|
|
Branch |
Springfield, MO |
United States |
Food Processing |
81.1 |
100 |
|
|
|
Branch |
Comanche, TX |
United States |
Chemical Manufacturing |
39.9 |
60 |
|
|
|
Branch |
Effingham, IL |
United States |
Food Processing |
43.8 |
54 |
|
|
|
Branch |
Portland, MI |
United States |
Food Processing |
29.2 |
36 |
|
|
|
Branch |
Columbus, NE |
United States |
Food Processing |
24.3 |
30 |
|
|
|
Branch |
Cozad, NE |
United States |
Food Processing |
24.3 |
30 |
|
|
|
Branch |
Bluffton, IN |
United States |
Chemical Manufacturing |
18.6 |
28 |
|
|
|
Branch |
Abilene, KS |
United States |
Food Processing |
21.9 |
27 |
|
|
|
Subsidiary |
Milwaukee, WI |
United States |
Food Processing |
|
263 |
|
|
|
Branch |
Georgetown, ON |
Canada |
Food Processing |
32.8 |
1,000 |
|
|
|
Branch |
Glassboro, NJ |
United States |
Food Processing |
56.0 |
78 |
|
|
|
Branch |
Hazle Twp, PA |
United States |
Food Processing |
10.1 |
25 |
|
|
|
Branch |
Southport, NC |
United States |
Chemical Manufacturing |
190.6 |
200 |
|
|
|
Subsidiary |
Chicago, IL |
United States |
Investment Services |
90.0 |
200 |
|
|
|
Branch |
Chicago, IL |
United States |
Investment Services |
6.4 |
20 |
|
|
|
Branch |
Valdosta, GA |
United States |
Food Processing |
425.3 |
160 |
|
|
|
Branch |
Windsor, ON |
Canada |
Crops |
609.0 |
150 |
|
|
|
Subsidiary |
Milwaukee, WI |
United States |
Beverages (Alcoholic) |
100.0 |
125 |
|
|
|
Branch |
Chattanooga, TN |
United States |
Textiles - Non Apparel |
25.8 |
120 |
|
|
|
Branch |
Enderlin, ND |
United States |
Chemical Manufacturing |
75.1 |
113 |
|
|
|
Branch |
Des Moines, IA |
United States |
Food Processing |
84.4 |
100 |
|
|
|
Subsidiary |
Koog Aan De Zaan, Noord-Holland |
Netherlands |
Business Services |
|
87 |
|
|
|
Subsidiary |
Koog Aan De Zaan, Noord-Holland |
Netherlands |
Crops |
7,301.3 |
|
|
|
|
Subsidiary |
Koog aan de Zaan |
Netherlands |
Food Processing |
|
|
|
|
|
Subsidiary |
Koog Aan De Zaan, Noord-Holland |
Netherlands |
Miscellaneous Financial Services |
|
|
|
|
|
Branch |
Mankato, MN |
United States |
Food Processing |
228.6 |
86 |
|
|
|
Branch |
Minneapolis, MN |
United States |
Crops |
236.6 |
85 |
|
|
|
Branch |
Mankato, MN |
United States |
Food Processing |
64.9 |
80 |
|
|
|
Subsidiary |
St Louis, MO |
United States |
Water Transportation |
22.5 |
80 |
|
|
|
Branch |
Westwego, LA |
United States |
Water Transportation |
103.8 |
300 |
|
|
|
Branch |
Lemont, IL |
United States |
Water Transportation |
23.3 |
100 |
|
|
|
Branch |
Cassville, WI |
United States |
Water Transportation |
17.5 |
75 |
|
|
|
Branch |
Westwego, LA |
United States |
Water Transportation |
11.7 |
50 |
|
|
|
Branch |
Ottawa, IL |
United States |
Water Transportation |
11.1 |
50 |
|
|
|
Branch |
Clinton, IA |
United States |
Water Transportation |
8.9 |
40 |
|
|
|
Branch |
Winona, MN |
United States |
Water Transportation |
6.2 |
28 |
|
|
|
Branch |
Camanche, IA |
United States |
Trucking |
12.1 |
80 |
|
|
|
Subsidiary |
Shawnee Mission, KS |
United States |
Food Processing |
1,750.0 |
70 |
|
|
|
Branch |
Jackson, TN |
United States |
Food Processing |
117.4 |
130 |
|
|
|
Branch |
Buffalo, NY |
United States |
Food Processing |
90.3 |
100 |
|
|
|
Branch |
Keokuk, IA |
United States |
Food Processing |
119.6 |
90 |
|
|
|
Branch |
St Louis, MO |
United States |
Food Processing |
68.6 |
76 |
|
|
|
Branch |
Enid, OK |
United States |
Food Processing |
58.7 |
65 |
|
|
|
Branch |
Chattanooga, TN |
United States |
Food Processing |
52.7 |
65 |
|
|
|
Branch |
Mt Vernon, IN |
United States |
Food Processing |
54.2 |
60 |
|
|
|
Branch |
Beech Grove, IN |
United States |
Food Processing |
50.6 |
56 |
|
|
|
Branch |
Arkansas City, KS |
United States |
Food Processing |
45.2 |
50 |
|
|
|
Branch |
N Kansas City, MO |
United States |
Food Processing |
45.2 |
50 |
|
|
|
Branch |
Spokane, WA |
United States |
Food Processing |
42.2 |
50 |
|
|
|
Branch |
Camp Hill, PA |
United States |
Food Processing |
44.2 |
49 |
|
|
|
Branch |
Chicago, IL |
United States |
Food Processing |
36.1 |
40 |
|
|
|
Branch |
Arkansas City, KS |
United States |
Food Processing |
32.5 |
36 |
|
|
|
Branch |
New Braunfels, TX |
United States |
Food Processing |
27.1 |
30 |
|
|
|
Branch |
Minneapolis, MN |
United States |
Food Processing |
27.1 |
30 |
|
|
|
Branch |
Salina, KS |
United States |
Food Processing |
27.1 |
30 |
|
|
|
Branch |
Charlotte, NC |
United States |
Food Processing |
25.3 |
30 |
|
|
|
Branch |
Carthage, MO |
United States |
Food Processing |
25.3 |
28 |
|
|
|
Branch |
Wellsburg, WV |
United States |
Paper and Paper Products |
5.7 |
22 |
|
|
|
Subsidiary |
Mississauga, ON |
Canada |
Food Processing |
|
20 |
|
|
|
Branch |
Montreal, QC |
Canada |
Food Processing |
232.6 |
199 |
|
|
|
Branch |
Calgary, AB |
Canada |
Food Processing |
93.5 |
80 |
|
|
|
Branch |
Midland, ON |
Canada |
Food Processing |
76.0 |
65 |
|
|
|
Branch |
Medicine Hat, AB |
Canada |
Food Processing |
60.0 |
50 |
|
|
|
Branch |
Mississauga, ON |
Canada |
Food Processing |
32.0 |
29 |
|
|
|
Branch |
Winnipeg, MB |
Canada |
Food Processing |
27.6 |
24 |
|
|
|
Branch |
Port Colborne, ON |
Canada |
Food Processing |
23.3 |
20 |
|
|
|
Branch |
Frankfort, IN |
United States |
Food Processing |
159.5 |
60 |
|
|
|
Branch |
Velva, ND |
United States |
Food Processing |
79.9 |
60 |
|
|
|
Branch |
Walhalla, ND |
United States |
Chemical Manufacturing |
57.2 |
60 |
|
|
|
Branch |
Mexico, MO |
United States |
Food Processing |
148.8 |
56 |
|
|
|
Branch |
Galveston, TX |
United States |
Miscellaneous Transportation |
5.8 |
55 |
|
|
|
Branch |
Red Wing, MN |
United States |
Chemical Manufacturing |
33.3 |
50 |
|
|
|
Branch |
Chattanooga, TN |
United States |
Trucking |
7.1 |
50 |
|
|
|
Branch |
Mexico, MO |
United States |
Miscellaneous Transportation |
5.3 |
50 |
|
|
|
Subsidiary |
Alpharetta, GA |
United States |
Food Processing |
|
50 |
|
|
|
Branch |
Dawson, GA |
United States |
Crops |
373.3 |
154 |
|
|
|
Branch |
Headland, AL |
United States |
Chemical Manufacturing |
79.8 |
120 |
|
|
|
Branch |
Aulander, NC |
United States |
Retail (Grocery) |
11.9 |
100 |
|
|
|
Branch |
Ashburn, GA |
United States |
Crops |
8.4 |
100 |
|
|
|
Branch |
De Leon, TX |
United States |
Crops |
218.2 |
90 |
|
|
|
Branch |
Seagraves, TX |
United States |
Miscellaneous Capital Goods |
23.9 |
60 |
|
|
|
Branch |
Blakely, GA |
United States |
Crops |
75.1 |
31 |
|
|
|
Branch |
Camilla, GA |
United States |
Food Processing |
15.5 |
20 |
|
|
|
Branch |
Fostoria, OH |
United States |
Food Processing |
119.6 |
45 |
|
|
|
Branch |
Mt Auburn, IL |
United States |
Miscellaneous Transportation |
4.8 |
45 |
|
|
|
Branch |
Des Moines, IA |
United States |
Trucking |
6.3 |
42 |
|
|
|
Subsidiary |
Winnipeg, MB |
Canada |
Chemical Manufacturing |
42.9 |
40 |
|
|
|
Branch |
Cedar Rapids, IA |
United States |
Trucking |
6.0 |
40 |
|
|
|
Branch |
Kershaw, SC |
United States |
Food Processing |
101.0 |
38 |
|
|
|
Branch |
Mendota, IL |
United States |
Food Processing |
28.4 |
35 |
|
|
|
Branch |
Enid, OK |
United States |
Miscellaneous Transportation |
3.6 |
34 |
|
|
|
Branch |
Fremont, NE |
United States |
Crops |
83.5 |
30 |
|
|
|
Branch |
Valdosta, GA |
United States |
Food Processing |
12.2 |
30 |
|
|
|
Branch |
Hutchinson, KS |
United States |
Miscellaneous Transportation |
3.2 |
30 |
|
|
|
Subsidiary |
Forsyth, IL |
United States |
Commercial Banks |
|
30 |
|
|
|
Branch |
Cordele, GA |
United States |
Food Processing |
22.7 |
28 |
|
|
|
Branch |
Hereford, TX |
United States |
Food Processing |
28.4 |
25 |
|
|
|
Branch |
Bushnell, IL |
United States |
Food Processing |
9.3 |
23 |
|
|
|
Branch |
Memphis, TN |
United States |
Crops |
58.4 |
21 |
|
|
|
Branch |
Chattanooga, TN |
United States |
Business Services |
17.7 |
21 |
|
|
|
Branch |
Brooklyn, NY |
United States |
Crops |
55.7 |
20 |
|
|
|
Branch |
Columbus, OH |
United States |
Crops |
55.7 |
20 |
|
|
|
Branch |
Ravenna, OH |
United States |
Food Processing |
16.2 |
20 |
|
|
|
Branch |
Indianapolis, IN |
United States |
Chemical Manufacturing |
13.3 |
20 |
|
|
|
Subsidiary |
Decatur, IL |
United States |
Insurance (Property and Casualty) |
|
15 |
|
|
|
Branch |
Watson, SK |
Canada |
Crops |
0.7 |
5 |
|
|
|
Branch |
Carberry, MB |
Canada |
Crops |
0.6 |
4 |
|
|
|
Subsidiary |
Essex, ON |
Canada |
Crops |
10.8 |
3 |
|
|
|
Branch |
Strathroy, ON |
Canada |
Crops |
7.2 |
2 |
|
|
|
Division |
Decatur, IL |
United States |
Engineering Consultants |
|
|
|
|
|
Division |
Decatur, IL |
United States |
Business Services |
|
|
|
|
|
Division |
Decatur, IL |
United States |
Engineering Consultants |
|
|
|
|
|
Division |
Decatur, IL |
United States |
Engineering Consultants |
|
|
|
|
|
Subsidiary |
Decatur, IL |
United States |
Business Services |
|
|
|
|
|
Competitors Report |
|
CompanyName |
Location |
Employees |
Ownership |
|
Barry Callebaut
AG |
Zurich, Switzerland |
5,972 |
Public |
|
Bunge Limited |
White Plains, New York, United States |
32,000 |
Public |
|
ConAgra Foods, Inc. |
Omaha, Nebraska, United States |
23,200 |
Public |
|
Corn Products International, Inc. |
Westchester, Illinois, United States |
10,700 |
Public |
|
Tate & Lyle PLC |
London, United Kingdom |
4,111 |
Public |
executive report
|
Board of
Directors |
|
|
|
|
||||||
|
Vice President; Chairman of the Management Board of ACTI |
Chairman |
|
||||||
|
|||||||||
|
Chairman of the Board, President, Chief Executive Officer |
Chairman |
|
|
|||||
|
|||||||||
|
Vice Chairman, Executive Vice President, Commercial and Production |
Vice-Chairman |
|
|
|||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Lead Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Director |
Director/Board Member |
|
|
|||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Director |
Director/Board Member |
|
|
|||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Executives |
|
|
|
|
|
||||||
|
Chairman of the Board, President, Chief
Executive Officer |
Chief Executive Officer |
|
|
||||||
|
|
|||||||||
|
President - ADM South America |
President |
|
|
|
|||||
|
Senior Executive Vice President - Performance and Growth |
Division Head Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President and Senior Advisor, Corn |
Division Head Executive |
|
|
|
|||||
|
|
|||||||||
|
Senior Vice President and President, Agricultural Services |
Division Head Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President - Oilseeds Processing Production Operations |
Operations Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President - Corn Processing
Production Operations |
Operations Executive |
|
|
|
|||||
|
|
|||||||||
|
Chief Operating Officer, Execuitve Vice President |
Operations Executive |
|
|
|
|||||
|
|
|||||||||
|
Assistant Secretary, Assistant General Counsel |
Company Secretary |
|
|
|
|||||
|
|
|||||||||
|
Assistant Secretary, Assistant General Counsel |
Company Secretary |
|
|
|
|||||
|
|
|||||||||
|
Executive Vice President, Secretary, General Counsel |
Company Secretary |
|
|
|
|||||
|
|
|||||||||
|
Vice President of Finance and Treasurer |
Finance Executive |
|
|
|
|||||
|
|
|||||||||
|
Senior Vice President & CFO |
Finance Executive |
|
|
|
|||||
|
Chief Financial Officer, Senior Vice
President |
Finance Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President, General Auditor |
Accounting Executive |
|
|
|
|||||
|
|
|||||||||
|
Assistant Treasurer |
Treasurer |
|
|
|
|||||
|
|
|||||||||
|
Vice President, Controller |
Controller |
|
|
|
|||||
|
|
|||||||||
|
Vice President-Global Benefits |
Benefits & Compensation Executive |
|
|
|
|||||
|
Senior Vice President - Human Resources |
Human Resources Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President-Labor & Employee Relations |
Human Resources Executive |
|
|
|
|||||
|
Vice Chairman, Executive Vice President, Commercial and Production |
Sales Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President and President, Asia-Pacific |
International Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President-Global Oilseeds |
International Executive |
|
|
|
|||||
|
Marketing |
Marketing Executive |
|
|
|
|||||
|
Vice President - Corporate Communications Function |
Corporate Communications Executive |
|
|
|
|||||
|
|
|||||||||
|
Information Technology |
Information Executive |
|
|
|
|||||
|
Information Technology |
Information Executive |
|
|
|
|||||
|
Senior Vice President and President, Corn |
Product Management Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President, Sweetener Sales. |
Product Management Executive |
|
|
|
|||||
|
Senior Vice President, President, Global Oilseeds |
Product Management Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President and President, Milling and Cocoa |
Product Management Executive |
|
|
|
|||||
|
|
|||||||||
|
President, Milling |
Product Management Executive |
|
|
|
|||||
|
Vice President, Business Growth |
Business Development Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President & Assistant General
Counsel |
Planning Executive |
|
|
|
|||||
|
Vice President - Compliance and Ethics |
Legal Executive |
|
|
|
|||||
|
|
|||||||||
|
Senior Vice President and Chief Risk
Officer |
Insurance Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President of Insurance and Risk Management |
Insurance Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President, Economic Policy |
Government/Public Affairs Executive |
|
|
|
|||||
|
|
|||||||||
|
Vice President - Government Affairs Function |
Government/Public Affairs Executive |
|
|
|
|||||
|
|
|||||||||
|
Senior Vice President, Toepfer/ADM
Value Creation Team |
Other |
|
|
|
|||||
|
Vice President - Corn Processing |
Other |
|
|
|
|||||
|
Vice President of Specialty Food
Ingredients |
Other |
|
|
|
|||||
|
Executive Vice President - Asia Strategy |
Other |
|
|
|
|||||
|
Vice President - Procurement |
Other |
|
|
|
|||||
|
Vice President of Security and Corporate
Services |
Other |
|
|
|
|||||
|
|
|||||||||
|
Vice President - South American Oilseeds |
Other |
|
|
|
|||||
|
|
|||||||||
|
Senior Vice President Food and Feed
Ingredients |
Other |
|
|
||||||
|
Vice President - Export Trading |
Other |
|
|
||||||
|
Manager, Strategic Sourcing |
Other |
|
|
||||||
|
Group Vice President of Oilseed Processing |
Other |
|
|
||||||
Significant Developments
Archer Daniels Midland Company's Archer Daniels Midland Nederland B.V. Completes Acquisition of Elstar Oils S.A. Dec 15, 2011
Archer Daniels Midland Company announced that the Polish Office of Competition and Consumer Protection has approved the purchase of Elstar Oils S.A., by Archer Daniels Midland Nederland B.V., giving ADM operational control of the company. Additionally, Archer Daniels Midland Nederland B.V. acquired the remaining 2.26% of Elstar Oils shares, and now owns 100% of this company. Financial terms were not disclosed.
Archer Daniels Midland Company Announces Increase in Cash Dividend Nov 03, 2011
Archer Daniels Midland Company announced that the Board of Directors declared a cash dividend of USD0.175 per share on the Company's common stock payable December 8, 2011, to Stockholders of record November 17, 2011.
Archer Daniels Midland Company To Acquire Nine Grain Elevators In Wisconsin
Aug 31, 2011
Archer Daniels Midland Company announced it has acquired five grain storage elevators from Olsen Brothers Enterprises and, in a separate transaction, has contracted to acquire four grain storage elevators from Olsen's Mill Acquisition Company/Ag Services of Wisconsin. Archer Daniels Midland Company has also assumed a lease for an elevator from Olsen's Mill Acquisition Company. All 10 elevators are located in Wisconsin, and have a combined storage capacity of approximately 20 million bushels. Archer Daniels Midland Company began operating the elevators in August under lease agreements. The nine elevators ADM acquired are located in Auroraville, Belmont, Boscobel, Milwaukee, Oshkosh, Ripon, Stevens Point, Viroqua and Westfield. Each elevator has the capability to load trucks, with Boscobel, Oshkosh, Ripon and Stevens Point also having the ability to load railcars and Milwaukee having the ability to load railcars and shuttle barges on Lake Michigan. The leased elevator is located in Platteville and has truck-loading capabilities. Terms of acquisition were not disclosed.
Archer Daniels Midland Company to Acquire Rapeseed Processing and Biodiesel Company in Poland Aug 13, 2011
Archer Daniels Midland Company announced another important step in the expansion of its oilseed processing, food manufacturing and biodiesel capabilities with the signing of an agreement to purchase a majority share of Elstar Oils S.A. A Warsaw-listed company, Elstar is a Polish manufacturer of quality refined vegetable oils and fats for the food industry, and biodiesel for the energy market. Elstar, located in northern Poland, operates a rapeseed crushing, refining, solid-fat packaging and oil bottling facility in Czernin and a fully-automated biodiesel facility in Malbork. The terms of the acquisition were not disclosed.
Archer Daniels Midland Company Declare Cash Dividend Aug 04, 2011
Archer Daniels Midland Company announced that the Board of Directors
declared a cash dividend of $0.16 per share on the Company's stock payable on
September 8, 2011, to Stockholders of record on August 18, 2011.
Metabolix, Inc. And Archer
Daniels Midland Company's Telles Teams With Tenova Bioplastics On New Line Of
Biobased Film Jul 26, 2011
Metabolix, Inc. and Archer
Daniels Midland Company's joint venture, Telles
announced that it has teamed with Billerud Tenova Bioplastics AB, a
recognized film converter, to launch a new commercial line of biobased film solutions. Tenova
will use Mirel P5001, a compostable,
high biobased film grade resin, to develop and introduce
a new line of compostable bags and packaging
solutions across Europe. Mirel P5001 was tested to
ASTM D7081 standard specification for biodegradation in marine environment by
the U.S. Army Natick Soldier Research, Development and Engineering Center (NSRDEC)
in Natick, Massachusetts and the conclusion was made that Mirel
P5001 is fully marine biodegradable. In addition to its biodegradability and
high biobased content, Tenova
selected the Mirel P5001 film grade resin because it
has good puncture toughness, tear resistance and seal strength, good
printability, and is shelf stable. It processes on both cast and blown film
extruder lines.
Archer Daniels
Midland Company Acquires Cattleman's Choice Loomix
Jun 06, 2011
ADM Alliance
Nutrition, Inc., a wholly owned subsidiary of Archer Daniels Midland Company
announced the acquisition of Cattleman's Choice Loomix,
a producer of liquid animal feed supplements. The terms of the transaction were
not disclosed.
Archer Daniels
Midland Company Acquires Grain Elevator In Eastern Germany May 11, 2011
Archer Daniels
Midland Company announced it has acquired a grain elevator in Riesa, Germany, from Muskator-Werke
GmbH. The facility has a storage capacity of 40,000 metric tons, and has truck,
train and barge loading capabilities along the Elbe River. Terms of the
acquisition were not disclosed.
Archer Daniels
Midland Company Declares Cash Dividend
May 05, 2011
Archer Daniels
Midland Company announced that its Board of Directors declared a cash dividend
of $0.16 per share on the Company's stock payable on June 9, 2011, to
Stockholders of record on May 19, 2011.
UCAN Products
Selects Archer Daniels Midland Company's Telles Mirel Bioplastic For New Line Of
Kitchen Compost Bags Apr 26, 2011
Telles, a joint venture
between Metabolix, Inc. and Archer Daniels Midland
Company announced that UCAN Products, LLC has selected Mirel
bioplastic for a new line of kitchen compost bags.
Archer Daniels
Midland Company To Acquire Soybean Crushing Facility, Form Partnership For Biodiesel Business In Missouri Apr 04, 2011
Archer Daniels
Midland Company announced plans to acquire a soybean crushing and biodiesel facility in Deerfield, Mo., from Prairie Pride,
Inc. Archer Daniels Midland Company will also form a partnership with Prairie Pride
for the biodiesel portion of the business. Terms of
the acquisition were were not disclosed.
Burcon NutraScience Corporation Provides Update On License &
Development Agreement With Archer Daniels Midland Company Mar 04, 2011
Burcon NutraScience Corporation announced that the Company has
amended the license and development agreement between Burcon,
Burcon NutraScience (MB)
Corp. and Archer Daniels Midland Company (ADM) to provide an extended
development period for continued research aimed at expanding the commercial
value of Puratein and Supertein.
Burcon and ADM have agreed to an amendment of the
license and development agreement to effectively provide a one-year extension
to March 1, 2012, to facilitate continued research. Burcon's
main research objective during the one-year term of this amendment is to
further the commercialization potential of Burcon's
canola protein products Puratein and Supertein, particularly with respect to their unique
functional and nutritional characteristics. As such, Burcon
will conduct research aimed at refining its canola extraction and purification
technologies, develop new technologies as well as specialized canola protein
products. The amendment contemplates that Burcon may,
at its sole discretion and expense, engage a third party research organization
to conduct a joint research study, including human clinical feeding trials,
designed to investigate Supertein's potential as a
functional food ingredient. In particular, the research would seek to develop
evidence of Supertein's ability - given its high cysteine content - to mitigate certain physiological
effects associated with metabolic syndrome.
Zod b Organic Selects
Archer Daniels Midland Company's Mirel Bioplastic
Feb 21, 2011
Telles, a joint venture
between Metabolix, Inc. and Archer Daniels Midland
Company announced that Zod b Organic has selected and
contracted Mirel bioplastic
for a line of biodegradable beach toys. Mirel was the
material of choice for Zod b Organic's
new beach pails, cups and shovels for toddlers because it is the only durable bioplastic on the market that is proven to biodegrade in a
marine environment. Metabolix is now developing and
commercializing Mirel through Telles,
a joint venture between Metabolix and Archer Daniels
Midland Company.
Archer Daniels
Midland Company Declares Cash Dividend Feb 02, 2011
Archer Daniels
Midland Company announced that the Board of Directors declared a cash dividend
of $0.16 per share on the Company's stock payable March 10, 2011, to
Stockholders of record February 17, 2011.
First Illinois
Corporation To Acquire Majority Interest In Hickory Point Bank & Trust From
Archer Daniels Midland Company Jan 25, 2011
First Illinois
Corporation announced that it has reached an agreement with Archer Daniels
Midland Company to acquire a majority interest in Hickory Point Bank &
Trust, fsb., a community bank headquartered in
Decatur, Ill., with seven branch locations throughout Central Illinois. Terms
of the agreement are not being disclosed. The transaction is subject to regulatory
approval and is expected to be completed by June 30, 2011. The bank will retain
the Hickory Point Bank & Trust name. Archer Daniels Midland will also
retain minority ownership interest in the financial institution for an
undetermined period of time.
Archer Daniels
Midland Company Acquires Alimenta (USA), Inc. Jan 04,
2011
Archer Daniels
Midland Company announced that it has acquired all of the outstanding capital
stock of Alimenta (USA), Inc., from Alimenta S.A., an international trading company based in
Geneva, Switzerland. Alimenta (USA) is ADM's 50% partner in Golden Peanut Company, LLC. As a
result of this transaction, ADM now controls 100% of Golden Peanut Company. The
Company's operations include seven handling facilities located in peanut-producing
regions of the United States and one facility in Argentina.
|
|
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
Revenue |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
Total Revenue |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
76,376.0 |
57,839.0 |
65,118.0 |
65,974.0 |
40,781.0 |
|
Cost of Revenue, Total |
76,376.0 |
57,839.0 |
65,118.0 |
65,974.0 |
40,781.0 |
|
Gross Profit |
4,300.0 |
3,843.0 |
4,089.0 |
3,842.0 |
3,237.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1,611.0 |
1,398.0 |
1,412.0 |
1,419.0 |
1,195.0 |
|
Total Selling/General/Administrative Expenses |
1,611.0 |
1,398.0 |
1,412.0 |
1,419.0 |
1,195.0 |
|
Other Unusual Expense (Income) |
15.0 |
75.0 |
0.0 |
0.0 |
46.0 |
|
Unusual Expense (Income) |
15.0 |
75.0 |
0.0 |
0.0 |
46.0 |
|
Total Operating Expense |
78,002.0 |
59,312.0 |
66,530.0 |
67,393.0 |
42,022.0 |
|
|
|
|
|
|
|
|
Operating Income |
2,674.0 |
2,370.0 |
2,677.0 |
2,423.0 |
1,996.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-482.0 |
-422.0 |
-469.0 |
-513.0 |
-434.0 |
|
Interest Expense, Net Non-Operating |
-482.0 |
-422.0 |
-469.0 |
-513.0 |
-434.0 |
|
Investment Income -
Non-Operating |
723.0 |
637.0 |
309.0 |
722.0 |
944.0 |
|
Interest/Investment Income - Non-Operating |
723.0 |
637.0 |
309.0 |
722.0 |
944.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
241.0 |
215.0 |
-160.0 |
209.0 |
510.0 |
|
Gain (Loss) on Sale of Assets |
71.0 |
0.0 |
24.0 |
17.0 |
649.0 |
|
Other Non-Operating Income (Expense) |
29.0 |
0.0 |
-41.0 |
-55.0 |
-1.0 |
|
Other, Net |
29.0 |
0.0 |
-41.0 |
-55.0 |
-1.0 |
|
Income Before Tax |
3,015.0 |
2,585.0 |
2,500.0 |
2,594.0 |
3,154.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Income After Tax |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
18.0 |
11.0 |
-4.0 |
-6.0 |
- |
|
Net Income Before Extraord Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Net Income |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord
Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
642.0 |
643.0 |
643.0 |
644.0 |
651.0 |
|
Basic EPS Excl Extraord Items |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Basic/Primary EPS Incl Extraord
Items |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Dilution Adjustment |
13.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
2,049.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Diluted Weighted Average Shares |
654.0 |
644.0 |
644.0 |
646.0 |
656.0 |
|
Diluted EPS Excl Extraord Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
Diluted EPS Incl Extraord
Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
Dividends per Share - Common Stock Primary Issue |
0.62 |
0.58 |
0.54 |
0.49 |
0.43 |
|
Gross Dividends - Common Stock |
395.0 |
372.0 |
347.0 |
316.0 |
281.0 |
|
Interest Expense, Supplemental |
482.0 |
422.0 |
469.0 |
513.0 |
434.0 |
|
Interest Capitalized, Supplemental |
-7.0 |
-75.0 |
-95.0 |
-52.0 |
-24.0 |
|
Depreciation, Supplemental |
877.0 |
857.0 |
730.0 |
721.0 |
701.0 |
|
Total Special Items |
-56.0 |
75.0 |
-24.0 |
29.0 |
-603.0 |
|
Normalized Income Before Tax |
2,959.0 |
2,660.0 |
2,476.0 |
2,623.0 |
2,551.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-18.5 |
19.3 |
-7.8 |
-5.3 |
-189.7 |
|
Inc Tax Ex Impact of Sp Items |
978.5 |
685.3 |
804.2 |
802.7 |
802.3 |
|
Normalized Income After Tax |
1,980.5 |
1,974.7 |
1,671.8 |
1,820.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1,998.5 |
1,985.7 |
1,667.8 |
1,814.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.11 |
3.09 |
2.59 |
2.82 |
2.69 |
|
Diluted Normalized EPS |
3.08 |
3.08 |
2.59 |
2.81 |
2.67 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
46.0 |
- |
|
Rental Expenses |
251.0 |
241.0 |
217.0 |
201.0 |
166.0 |
|
Research & Development Exp, Supplemental |
60.0 |
56.0 |
50.0 |
49.0 |
45.0 |
|
Reported Gross Profit |
4,300.0 |
3,843.0 |
4,089.0 |
3,842.0 |
3,237.0 |
|
Normalized EBIT |
2,689.0 |
2,445.0 |
2,677.0 |
2,423.0 |
2,042.0 |
|
Normalized EBITDA |
3,566.0 |
3,302.0 |
3,407.0 |
3,190.0 |
2,743.0 |
|
Current Tax - Domestic |
251.0 |
422.0 |
626.0 |
540.0 |
691.0 |
|
Current Tax - Foreign |
222.0 |
195.0 |
139.0 |
363.0 |
124.0 |
|
Current Tax - Local |
10.0 |
18.0 |
28.0 |
46.0 |
68.0 |
|
Current Tax - Total |
483.0 |
635.0 |
793.0 |
949.0 |
883.0 |
|
Deferred Tax - Domestic |
483.0 |
107.0 |
-4.0 |
-63.0 |
-24.0 |
|
Deferred Tax - Foreign |
-12.0 |
-72.0 |
13.0 |
-89.0 |
149.0 |
|
Deferred Tax - Local |
43.0 |
-4.0 |
10.0 |
11.0 |
-16.0 |
|
Deferred Tax - Total |
514.0 |
31.0 |
19.0 |
-141.0 |
109.0 |
|
Income Tax - Total |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Interest Cost - Domestic |
120.0 |
119.0 |
111.0 |
109.0 |
94.0 |
|
Service Cost - Domestic |
71.0 |
58.0 |
52.0 |
68.0 |
62.0 |
|
Expected Return on Assets - Domestic |
-132.0 |
-117.0 |
-113.0 |
-121.0 |
-102.0 |
|
Actuarial Gains and Losses - Domestic |
59.0 |
31.0 |
2.0 |
17.0 |
19.0 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Pension, Net - Domestic |
5.0 |
6.0 |
6.0 |
5.0 |
6.0 |
|
Domestic Pension Plan Expense |
123.0 |
97.0 |
58.0 |
78.0 |
79.0 |
|
Interest Cost - Post-Retirement |
13.0 |
16.0 |
13.0 |
12.0 |
10.0 |
|
Service Cost - Post-Retirement |
8.0 |
9.0 |
7.0 |
9.0 |
7.0 |
|
Actuarial Gains and Losses - Post-Retir. |
0.0 |
5.0 |
1.0 |
2.0 |
1.0 |
|
Curtailments & Settlements - Post-Retir. |
0.0 |
0.0 |
-15.0 |
- |
- |
|
Other Post-Retirement, Net |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
|
Post-Retirement Plan Expense |
20.0 |
29.0 |
5.0 |
22.0 |
17.0 |
|
Defined Contribution Expense - Domestic |
43.0 |
40.0 |
35.0 |
31.0 |
29.0 |
|
Total Pension Expense |
186.0 |
166.0 |
98.0 |
131.0 |
125.0 |
|
Discount Rate - Domestic |
5.20% |
6.10% |
6.50% |
5.60% |
5.60% |
|
Discount Rate - Post-Retirement |
5.40% |
6.30% |
6.80% |
6.00% |
6.00% |
|
Expected Rate of Return - Domestic |
7.10% |
7.10% |
7.20% |
7.60% |
7.20% |
|
Compensation Rate - Domestic |
3.90% |
3.80% |
3.90% |
4.10% |
4.10% |
|
Total Plan Interest Cost |
133.0 |
135.0 |
124.0 |
121.0 |
104.0 |
|
Total Plan Service Cost |
79.0 |
67.0 |
59.0 |
77.0 |
69.0 |
|
Total Plan Expected Return |
-132.0 |
-117.0 |
-113.0 |
-121.0 |
-102.0 |
|
Total Plan Other Expense |
4.0 |
5.0 |
5.0 |
4.0 |
5.0 |
|
|
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Short Term Investments |
739.0 |
394.0 |
500.0 |
455.0 |
212.0 |
|
Cash and Short Term Investments |
1,354.0 |
1,440.0 |
1,555.0 |
1,265.0 |
875.0 |
|
Accounts Receivable - Trade,
Gross |
9,916.0 |
6,219.0 |
7,414.0 |
11,572.0 |
6,473.0 |
|
Provision for Doubtful
Accounts |
-100.0 |
-97.0 |
-103.0 |
-89.0 |
-69.0 |
|
Trade Accounts Receivable - Net |
9,816.0 |
6,122.0 |
7,311.0 |
11,483.0 |
6,404.0 |
|
Total Receivables, Net |
9,816.0 |
6,122.0 |
7,311.0 |
11,483.0 |
6,404.0 |
|
Inventories - Other |
11,505.0 |
7,450.0 |
7,304.0 |
9,729.0 |
- |
|
LIFO Reserve |
550.0 |
421.0 |
478.0 |
431.0 |
- |
|
Total Inventory |
12,055.0 |
7,871.0 |
7,782.0 |
10,160.0 |
6,060.0 |
|
Restricted Cash - Current |
3,396.0 |
2,337.0 |
2,430.0 |
2,035.0 |
1,424.0 |
|
Other Current Assets |
883.0 |
624.0 |
330.0 |
512.0 |
359.0 |
|
Other Current Assets, Total |
4,279.0 |
2,961.0 |
2,760.0 |
2,547.0 |
1,783.0 |
|
Total Current Assets |
27,504.0 |
18,394.0 |
19,408.0 |
25,455.0 |
15,122.0 |
|
|
|
|
|
|
|
|
Buildings |
4,413.0 |
4,008.0 |
3,304.0 |
3,207.0 |
3,002.0 |
|
Land/Improvements |
305.0 |
277.0 |
240.0 |
238.0 |
227.0 |
|
Machinery/Equipment |
16,245.0 |
15,107.0 |
13,052.0 |
12,410.0 |
11,822.0 |
|
Construction in
Progress |
765.0 |
612.0 |
2,245.0 |
1,924.0 |
884.0 |
|
Property/Plant/Equipment - Gross |
21,728.0 |
20,004.0 |
18,841.0 |
17,779.0 |
15,935.0 |
|
Accumulated Depreciation |
-12,228.0 |
-11,292.0 |
-10,891.0 |
-10,654.0 |
-9,925.0 |
|
Property/Plant/Equipment - Net |
9,500.0 |
8,712.0 |
7,950.0 |
7,125.0 |
6,010.0 |
|
Goodwill, Net |
602.0 |
523.0 |
532.0 |
506.0 |
317.0 |
|
LT Investment - Affiliate Companies |
3,240.0 |
2,799.0 |
2,459.0 |
2,773.0 |
2,498.0 |
|
LT Investments - Other |
666.0 |
678.0 |
626.0 |
590.0 |
657.0 |
|
Long Term Investments |
3,906.0 |
3,477.0 |
3,085.0 |
3,363.0 |
3,155.0 |
|
Other Long Term Assets |
681.0 |
702.0 |
607.0 |
607.0 |
514.0 |
|
Other Long Term Assets, Total |
681.0 |
702.0 |
607.0 |
607.0 |
514.0 |
|
Total Assets |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
7,550.0 |
5,538.0 |
5,786.0 |
6,544.0 |
4,919.0 |
|
Accrued Expenses |
3,615.0 |
2,577.0 |
2,695.0 |
4,722.0 |
2,416.0 |
|
Notes Payable/Short Term Debt |
1,875.0 |
374.0 |
356.0 |
3,123.0 |
468.0 |
|
Current Portion - Long Term Debt/Capital Leases |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Total Current Liabilities |
13,218.0 |
8,833.0 |
8,885.0 |
14,621.0 |
7,868.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
Total Long Term Debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
Total Debt |
10,319.0 |
7,548.0 |
7,996.0 |
11,045.0 |
5,285.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
859.0 |
439.0 |
308.0 |
473.0 |
532.0 |
|
Deferred Income Tax |
859.0 |
439.0 |
308.0 |
473.0 |
532.0 |
|
Minority Interest |
30.0 |
22.0 |
26.0 |
- |
- |
|
Other Long Term Liabilities |
1,012.0 |
1,075.0 |
1,144.0 |
782.0 |
713.0 |
|
Other Liabilities, Total |
1,012.0 |
1,075.0 |
1,144.0 |
782.0 |
713.0 |
|
Total Liabilities |
23,385.0 |
17,199.0 |
17,955.0 |
23,566.0 |
13,865.0 |
|
|
|
|
|
|
|
|
Common Stock |
6,636.0 |
5,151.0 |
5,204.0 |
5,039.0 |
5,090.0 |
|
Common Stock |
6,636.0 |
5,151.0 |
5,204.0 |
5,039.0 |
5,090.0 |
|
Retained Earnings (Accumulated Deficit) |
11,996.0 |
10,357.0 |
8,778.0 |
7,494.0 |
5,982.0 |
|
Other Comprehensive Income |
176.0 |
-899.0 |
-355.0 |
957.0 |
181.0 |
|
Other Equity, Total |
176.0 |
-899.0 |
-355.0 |
957.0 |
181.0 |
|
Total Equity |
18,808.0 |
14,609.0 |
13,627.0 |
13,490.0 |
11,253.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders
Equity |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Total Common Shares Outstanding |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Employees |
30,700 |
29,300 |
28,200 |
27,600 |
27,300 |
|
Number of Common Shareholders |
12,740 |
15,384 |
16,877 |
17,330 |
18,252 |
|
Total Long Term Debt, Supplemental |
8,580.0 |
7,174.0 |
7,901.0 |
7,960.0 |
4,897.0 |
|
Long Term Debt Maturing within 1 Year |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Long Term Debt Maturing in Year 2 |
1,800.0 |
156.0 |
328.0 |
43.0 |
46.0 |
|
Long Term Debt Maturing in Year 3 |
1,100.0 |
272.0 |
151.0 |
283.0 |
46.0 |
|
Long Term Debt Maturing in Year 4 |
28.0 |
1,050.0 |
268.0 |
118.0 |
212.5 |
|
Long Term Debt Maturing in Year 5 |
17.0 |
25.0 |
1,215.0 |
261.0 |
212.5 |
|
Long Term Debt Maturing in 2-3 Years |
2,900.0 |
428.0 |
479.0 |
326.0 |
92.0 |
|
Long Term Debt Maturing in 4-5 Years |
45.0 |
1,075.0 |
1,483.0 |
379.0 |
425.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
5,457.0 |
5,327.0 |
5,891.0 |
7,023.0 |
4,315.0 |
|
Total Operating Leases, Supplemental |
1,163.0 |
1,381.0 |
1,274.0 |
1,364.0 |
900.0 |
|
Operating Lease Payments Due in Year 1 |
233.0 |
235.0 |
224.0 |
403.0 |
318.0 |
|
Operating Lease Payments Due in Year 2 |
183.0 |
189.0 |
205.0 |
217.0 |
144.0 |
|
Operating Lease Payments Due in Year 3 |
151.0 |
182.0 |
235.0 |
185.0 |
97.0 |
|
Operating Lease Payments Due in Year 4 |
121.0 |
156.0 |
198.0 |
129.0 |
79.0 |
|
Operating Lease Payments Due in Year 5 |
104.0 |
177.0 |
139.0 |
110.0 |
53.0 |
|
Operating Lease Pymts. Due in 2-3 Years |
334.0 |
371.0 |
440.0 |
402.0 |
241.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
225.0 |
333.0 |
337.0 |
239.0 |
132.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
371.0 |
442.0 |
273.0 |
320.0 |
209.0 |
|
Pension Obligation - Domestic |
2,470.0 |
2,299.0 |
2,012.0 |
1,851.0 |
1,916.0 |
|
Post-Retirement Obligation |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Plan Assets - Domestic |
2,134.0 |
1,721.0 |
1,427.0 |
1,662.0 |
1,611.0 |
|
Funded Status - Domestic |
-336.0 |
-578.0 |
-585.0 |
-189.0 |
-305.0 |
|
Funded Status - Post-Retirement |
-229.0 |
-224.0 |
-256.0 |
-206.0 |
-208.0 |
|
Accumulated Obligation - Domestic |
2,300.0 |
2,100.0 |
1,800.0 |
1,700.0 |
1,700.0 |
|
Accumulated Obligation - Post-Retirement |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Total Funded Status |
-565.0 |
-802.0 |
-841.0 |
-395.0 |
-513.0 |
|
Discount Rate - Domestic |
5.50% |
5.20% |
6.10% |
6.50% |
5.60% |
|
Discount Rate - Post-Retirement |
5.50% |
5.40% |
6.80% |
6.80% |
6.00% |
|
Expected Rate of Return - Domestic |
- |
- |
- |
- |
7.20% |
|
Compensation Rate - Domestic |
3.90% |
3.90% |
3.80% |
3.90% |
4.10% |
|
Prepaid Benefits - Domestic |
51.0 |
17.0 |
17.0 |
68.0 |
22.0 |
|
Intangible Assets - Domestic |
- |
- |
- |
- |
0.0 |
|
Accrued Liabilities - Domestic |
-387.0 |
-595.0 |
-602.0 |
-250.0 |
-322.0 |
|
Accrued Liabilities - Post-Retirement |
-229.0 |
-224.0 |
-256.0 |
-206.0 |
-208.0 |
|
Other Assets, Net - Domestic |
- |
- |
- |
- |
295.0 |
|
Other Assets, Net - Post-Retirement |
- |
- |
- |
- |
38.0 |
|
Net Assets Recognized on Balance Sheet |
-565.0 |
-802.0 |
-841.0 |
-388.0 |
-175.0 |
|
Equity % - Domestic |
52.00% |
48.00% |
48.00% |
51.00% |
54.00% |
|
Debt Securities % - Domestic |
47.00% |
50.00% |
46.00% |
41.00% |
40.00% |
|
Other Investments % - Domestic |
1.00% |
2.00% |
6.00% |
8.00% |
6.00% |
|
Total Plan Obligations |
2,699.0 |
2,523.0 |
2,268.0 |
2,057.0 |
2,124.0 |
|
Total Plan Assets |
2,134.0 |
1,721.0 |
1,427.0 |
1,662.0 |
1,611.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
Depreciation |
877.0 |
912.0 |
780.0 |
767.0 |
701.0 |
|
Depreciation/Depletion |
877.0 |
912.0 |
780.0 |
767.0 |
701.0 |
|
Deferred Taxes |
521.0 |
30.0 |
20.0 |
-142.0 |
109.0 |
|
Unusual Items |
-56.0 |
75.0 |
4.0 |
-22.0 |
-1,021.0 |
|
Equity in Net Earnings (Loss) |
-397.0 |
-326.0 |
54.0 |
-283.0 |
-193.0 |
|
Other Non-Cash Items |
-71.0 |
68.0 |
-287.0 |
460.0 |
187.0 |
|
Non-Cash Items |
-524.0 |
-183.0 |
-229.0 |
155.0 |
-1,027.0 |
|
Accounts Receivable |
-2,882.0 |
740.0 |
3,680.0 |
-4,781.0 |
-953.0 |
|
Inventories |
-3,412.0 |
-144.0 |
1,899.0 |
-3,736.0 |
-1,215.0 |
|
Other Assets |
-1,292.0 |
-137.0 |
-274.0 |
-788.0 |
-257.0 |
|
Payable/Accrued |
2,354.0 |
-453.0 |
-2,223.0 |
3,535.0 |
783.0 |
|
Changes in Working Capital |
-5,232.0 |
6.0 |
3,082.0 |
-5,770.0 |
-1,642.0 |
|
Cash from Operating Activities |
-2,340.0 |
2,684.0 |
5,341.0 |
-3,204.0 |
303.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,247.0 |
-1,607.0 |
-1,898.0 |
-1,779.0 |
-1,198.0 |
|
Capital Expenditures |
-1,247.0 |
-1,607.0 |
-1,898.0 |
-1,779.0 |
-1,198.0 |
|
Acquisition of Business |
-218.0 |
-62.0 |
-198.0 |
-13.0 |
-103.0 |
|
Sale of Business |
0.0 |
0.0 |
258.0 |
11.0 |
385.0 |
|
Sale of Fixed Assets |
72.0 |
35.0 |
65.0 |
52.0 |
45.0 |
|
Sale/Maturity of Investment |
2,094.0 |
1,454.0 |
2,312.0 |
1,222.0 |
1,367.0 |
|
Investment, Net |
-31.0 |
-146.0 |
-15.0 |
-32.0 |
-53.0 |
|
Purchase of Investments |
-2,379.0 |
-1,387.0 |
-2,402.0 |
-1,405.0 |
-892.0 |
|
Other Investing Cash Flow |
34.0 |
48.0 |
7.0 |
49.0 |
94.0 |
|
Other Investing Cash Flow Items, Total |
-428.0 |
-58.0 |
27.0 |
-116.0 |
843.0 |
|
Cash from Investing Activities |
-1,675.0 |
-1,665.0 |
-1,871.0 |
-1,895.0 |
-355.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
2.0 |
-60.0 |
11.0 |
23.0 |
-261.0 |
|
Financing Cash Flow Items |
2.0 |
-60.0 |
11.0 |
23.0 |
-261.0 |
|
Cash Dividends Paid - Common |
-395.0 |
-372.0 |
-347.0 |
-316.0 |
-281.0 |
|
Total Cash Dividends Paid |
-395.0 |
-372.0 |
-347.0 |
-316.0 |
-281.0 |
|
Sale/Issuance of
Common |
1,750.0 |
0.0 |
0.0 |
- |
- |
|
Repurchase/Retirement
of Common |
-301.0 |
-100.0 |
-100.0 |
-61.0 |
-533.0 |
|
Common Stock, Net |
1,449.0 |
-100.0 |
-100.0 |
-61.0 |
-533.0 |
|
Warrants Converted |
- |
- |
- |
- |
170.0 |
|
Issuance (Retirement) of Stock, Net |
1,449.0 |
-100.0 |
-100.0 |
-61.0 |
-363.0 |
|
Short Term Debt, Net |
1,381.0 |
29.0 |
-2,890.0 |
2,574.0 |
-110.0 |
|
Long Term Debt Issued |
1,564.0 |
27.0 |
125.0 |
3,095.0 |
1,166.0 |
|
Long Term Debt
Reduction |
-417.0 |
-552.0 |
-24.0 |
-69.0 |
-549.0 |
|
Long Term Debt, Net |
1,147.0 |
-525.0 |
101.0 |
3,026.0 |
617.0 |
|
Issuance (Retirement) of Debt, Net |
2,528.0 |
-496.0 |
-2,789.0 |
5,600.0 |
507.0 |
|
Cash from Financing Activities |
3,584.0 |
-1,028.0 |
-3,225.0 |
5,246.0 |
-398.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-431.0 |
-9.0 |
245.0 |
147.0 |
-450.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
1,113.0 |
|
Net Cash - Ending Balance |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Cash Interest Paid |
418.0 |
453.0 |
522.0 |
485.0 |
425.0 |
|
Cash Taxes Paid |
513.0 |
604.0 |
1,011.0 |
859.0 |
794.0 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales and other operating income |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
Total Revenue |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
|
|
|
|
|
|
|
Cost of Products Sold |
76,376.0 |
57,839.0 |
65,118.0 |
65,974.0 |
40,781.0 |
|
Selling/General/Administrative Expenses |
1,611.0 |
1,398.0 |
1,412.0 |
1,419.0 |
1,195.0 |
|
Loss on extinguishment of debt |
- |
- |
- |
- |
46.0 |
|
Debt buy back costs |
15.0 |
75.0 |
0.0 |
0.0 |
- |
|
Total Operating Expense |
78,002.0 |
59,312.0 |
66,530.0 |
67,393.0 |
42,022.0 |
|
|
|
|
|
|
|
|
Interest Expense |
-482.0 |
-422.0 |
-469.0 |
-513.0 |
-434.0 |
|
Equity in Affiliates |
542.0 |
561.0 |
145.0 |
415.0 |
294.0 |
|
Investment Income |
136.0 |
126.0 |
181.0 |
269.0 |
257.0 |
|
Gain related to Golden Peanut acquisitio |
71.0 |
0.0 |
0.0 |
17.0 |
649.0 |
|
Net gain on sales of businesses |
0.0 |
0.0 |
24.0 |
- |
- |
|
Unrealized loss on interest costs |
30.0 |
-59.0 |
0.0 |
- |
- |
|
Net loss (gain) on marketable securities |
12.0 |
-6.0 |
-6.0 |
38.0 |
393.0 |
|
Net (gain) loss on sale of unconsolidate |
3.0 |
15.0 |
-11.0 |
- |
- |
|
Other net |
29.0 |
0.0 |
-41.0 |
-55.0 |
-1.0 |
|
Net Income Before Taxes |
3,015.0 |
2,585.0 |
2,500.0 |
2,594.0 |
3,154.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Net Income After Taxes |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
18.0 |
11.0 |
-4.0 |
-6.0 |
- |
|
Net Income Before Extra. Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Net Income |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
642.0 |
643.0 |
643.0 |
644.0 |
651.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Basic EPS Including ExtraOrdinary Item |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Dilution Adjustment |
13.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
2,049.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Diluted Weighted Average Shares |
654.0 |
644.0 |
644.0 |
646.0 |
656.0 |
|
Diluted EPS Excluding ExtraOrd Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
Diluted EPS Including ExtraOrd Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
DPS-Common Stock |
0.62 |
0.58 |
0.54 |
0.49 |
0.43 |
|
Gross Dividends - Common Stock |
395.0 |
372.0 |
347.0 |
316.0 |
281.0 |
|
Normalized Income Before Taxes |
2,959.0 |
2,660.0 |
2,476.0 |
2,623.0 |
2,551.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
978.5 |
685.3 |
804.2 |
802.7 |
802.3 |
|
Normalized Income After Taxes |
1,980.5 |
1,974.7 |
1,671.8 |
1,820.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1,998.5 |
1,985.7 |
1,667.8 |
1,814.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.11 |
3.09 |
2.59 |
2.82 |
2.69 |
|
Diluted Normalized EPS |
3.08 |
3.08 |
2.59 |
2.81 |
2.67 |
|
Interest Expense |
482.0 |
422.0 |
469.0 |
513.0 |
434.0 |
|
Interest Capitalized |
-7.0 |
-75.0 |
-95.0 |
-52.0 |
-24.0 |
|
Rental Expense |
251.0 |
241.0 |
217.0 |
201.0 |
166.0 |
|
Amortization of Goodwill |
- |
- |
- |
46.0 |
- |
|
Depreciation |
877.0 |
857.0 |
730.0 |
721.0 |
701.0 |
|
Research and Development |
60.0 |
56.0 |
50.0 |
49.0 |
45.0 |
|
Current Tax - Federal |
251.0 |
422.0 |
626.0 |
540.0 |
691.0 |
|
Current Tax - State |
10.0 |
18.0 |
28.0 |
46.0 |
68.0 |
|
Current Tax - Foreign |
222.0 |
195.0 |
139.0 |
363.0 |
124.0 |
|
Current Tax - Total |
483.0 |
635.0 |
793.0 |
949.0 |
883.0 |
|
Deferred Tax - Federal |
483.0 |
107.0 |
-4.0 |
-63.0 |
-24.0 |
|
Deferred Tax - State |
43.0 |
-4.0 |
10.0 |
11.0 |
-16.0 |
|
Deferred Tax - Foreign |
-12.0 |
-72.0 |
13.0 |
-89.0 |
149.0 |
|
Deferred Tax - Total |
514.0 |
31.0 |
19.0 |
-141.0 |
109.0 |
|
Income Tax - Total |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Gross Profit |
4,300.0 |
3,843.0 |
4,089.0 |
3,842.0 |
3,237.0 |
|
Service Cost - Pension |
71.0 |
58.0 |
52.0 |
68.0 |
62.0 |
|
Interest Cost - Pension |
120.0 |
119.0 |
111.0 |
109.0 |
94.0 |
|
Expected Return on Assets - Pension |
-132.0 |
-117.0 |
-113.0 |
-121.0 |
-102.0 |
|
Curtailment Losses - Pension |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Amort. of Actuarial Gain/Loss - Pension |
59.0 |
31.0 |
2.0 |
17.0 |
19.0 |
|
Other Amortization - Pension |
5.0 |
6.0 |
6.0 |
5.0 |
6.0 |
|
Domestic Pension Plan Expense |
123.0 |
97.0 |
58.0 |
78.0 |
79.0 |
|
Service Cost - Post-Retirement |
8.0 |
9.0 |
7.0 |
9.0 |
7.0 |
|
Interest Cost - Post-Retirement |
13.0 |
16.0 |
13.0 |
12.0 |
10.0 |
|
Curtailment/Plan settlements - Post Rt. |
0.0 |
0.0 |
-15.0 |
- |
- |
|
Amort. of Actuarial Gain/Loss - Post-Ret |
0.0 |
5.0 |
1.0 |
2.0 |
1.0 |
|
Other Amortization - Post-Retirement |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
|
Post-Retirement Plan Expense |
20.0 |
29.0 |
5.0 |
22.0 |
17.0 |
|
Defined Contribution Plans - Pension |
43.0 |
40.0 |
35.0 |
31.0 |
29.0 |
|
Total Pension Expense |
186.0 |
166.0 |
98.0 |
131.0 |
125.0 |
|
Discount Rate - Pension |
5.20% |
6.10% |
6.50% |
5.60% |
5.60% |
|
Expected Rate of Return - Pension |
7.10% |
7.10% |
7.20% |
7.60% |
7.20% |
|
Compensation Rate - Pension |
3.90% |
3.80% |
3.90% |
4.10% |
4.10% |
|
Discount Rate - Post-Retirement |
5.40% |
6.30% |
6.80% |
6.00% |
6.00% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Segregated cash and investments |
3,396.0 |
2,337.0 |
2,430.0 |
2,035.0 |
1,424.0 |
|
Short-term marketable securities |
739.0 |
394.0 |
500.0 |
455.0 |
212.0 |
|
Receivables |
9,916.0 |
6,219.0 |
7,414.0 |
11,572.0 |
6,473.0 |
|
Allowance for doubtful accounts |
-100.0 |
-97.0 |
-103.0 |
-89.0 |
-69.0 |
|
Inventories |
- |
- |
- |
- |
6,060.0 |
|
LIFO inventories |
550.0 |
421.0 |
478.0 |
431.0 |
- |
|
FIFO inventories |
5,590.0 |
3,218.0 |
2,735.0 |
2,343.0 |
- |
|
Market inventories |
5,915.0 |
4,232.0 |
4,569.0 |
7,386.0 |
- |
|
Other Assets |
883.0 |
624.0 |
330.0 |
512.0 |
359.0 |
|
Total Current Assets |
27,504.0 |
18,394.0 |
19,408.0 |
25,455.0 |
15,122.0 |
|
|
|
|
|
|
|
|
Investments in and Advances to Affiliate |
3,240.0 |
2,799.0 |
2,459.0 |
2,773.0 |
2,498.0 |
|
Long Term Marketable Securities |
666.0 |
678.0 |
626.0 |
590.0 |
657.0 |
|
Goodwill Net |
602.0 |
523.0 |
532.0 |
506.0 |
317.0 |
|
Other assets |
681.0 |
702.0 |
607.0 |
607.0 |
514.0 |
|
Land |
305.0 |
277.0 |
240.0 |
238.0 |
227.0 |
|
Buildings |
4,413.0 |
4,008.0 |
3,304.0 |
3,207.0 |
3,002.0 |
|
Machinery and Equipment |
16,245.0 |
15,107.0 |
13,052.0 |
12,410.0 |
11,822.0 |
|
Construction in Progress |
765.0 |
612.0 |
2,245.0 |
1,924.0 |
884.0 |
|
Accumulated Depreciation |
-12,228.0 |
-11,292.0 |
-10,891.0 |
-10,654.0 |
-9,925.0 |
|
Total Assets |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
Short Term Debt |
1,875.0 |
374.0 |
356.0 |
3,123.0 |
468.0 |
|
Accounts Payable |
7,550.0 |
5,538.0 |
5,786.0 |
6,544.0 |
4,919.0 |
|
Accrued Expenses |
3,615.0 |
2,577.0 |
2,695.0 |
4,722.0 |
2,416.0 |
|
Current maturities of long-term debt |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Total Current Liabilities |
13,218.0 |
8,833.0 |
8,885.0 |
14,621.0 |
7,868.0 |
|
|
|
|
|
|
|
|
Long-term debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
Total Long Term Debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
|
|
|
|
|
|
|
Deferred Taxes |
859.0 |
439.0 |
308.0 |
473.0 |
532.0 |
|
Other |
1,012.0 |
1,075.0 |
1,144.0 |
782.0 |
713.0 |
|
Noncontrolling
interests |
30.0 |
22.0 |
26.0 |
- |
- |
|
Total Liabilities |
23,385.0 |
17,199.0 |
17,955.0 |
23,566.0 |
13,865.0 |
|
|
|
|
|
|
|
|
Common Stock |
6,636.0 |
5,151.0 |
5,204.0 |
5,039.0 |
5,090.0 |
|
Retained Erngs. |
11,996.0 |
10,357.0 |
8,778.0 |
7,494.0 |
5,982.0 |
|
Accumulated other comprehensive income ( |
176.0 |
-899.0 |
-355.0 |
957.0 |
181.0 |
|
Total Equity |
18,808.0 |
14,609.0 |
13,627.0 |
13,490.0 |
11,253.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Total Common Shares Outstanding |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Full-Time Employees |
30,700 |
29,300 |
28,200 |
27,600 |
27,300 |
|
Number of Common Shareholders |
12,740 |
15,384 |
16,877 |
17,330 |
18,252 |
|
Long Term Debt Maturing within 1 Year |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Long Term Debt Maturing within 2 Years |
1,800.0 |
156.0 |
328.0 |
43.0 |
- |
|
Long Term Debt Maturing within 3 Years |
1,100.0 |
272.0 |
151.0 |
283.0 |
92.0 |
|
Long Term Debt Maturing within 4 Years |
28.0 |
1,050.0 |
268.0 |
118.0 |
- |
|
Long Term Debt Maturing within 5 Years |
17.0 |
25.0 |
1,215.0 |
261.0 |
425.0 |
|
Long Term Debt - Remaining Maturity |
5,457.0 |
5,327.0 |
5,891.0 |
7,023.0 |
4,315.0 |
|
Total Long Term Debt, Supplemental |
8,580.0 |
7,174.0 |
7,901.0 |
7,960.0 |
4,897.0 |
|
Operating Lease Maturing within 1 Year |
233.0 |
235.0 |
224.0 |
403.0 |
318.0 |
|
Operating Lease Maturing within 2 Years |
183.0 |
189.0 |
205.0 |
217.0 |
144.0 |
|
Operating Lease Maturing within 3 Years |
151.0 |
182.0 |
235.0 |
185.0 |
97.0 |
|
Operating Lease Maturing within 4 Years |
121.0 |
156.0 |
198.0 |
129.0 |
79.0 |
|
Operating Lease Maturing within 5 Years |
104.0 |
177.0 |
139.0 |
110.0 |
53.0 |
|
Operating Lease Reamining Maturity |
371.0 |
442.0 |
273.0 |
320.0 |
209.0 |
|
Total Operating Leases |
1,163.0 |
1,381.0 |
1,274.0 |
1,364.0 |
900.0 |
|
Projected Benefit Obligation - Pension |
2,470.0 |
2,299.0 |
2,012.0 |
1,851.0 |
1,916.0 |
|
FV of Plan Assets - Pension |
2,134.0 |
1,721.0 |
1,427.0 |
1,662.0 |
1,611.0 |
|
Funded Status - Pension |
-336.0 |
-578.0 |
-585.0 |
-189.0 |
-305.0 |
|
Accumulated Benefit Obligation - Pension |
2,300.0 |
2,100.0 |
1,800.0 |
1,700.0 |
1,700.0 |
|
Projected Benefit Obligation - Post-Ret. |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Funded Status - Post-Retirement |
-229.0 |
-224.0 |
-256.0 |
-206.0 |
-208.0 |
|
Accumulated Benefit Obligation - Post-Re |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Total Funded Status |
-565.0 |
-802.0 |
-841.0 |
-395.0 |
-513.0 |
|
Discount Rate - Pension |
5.50% |
5.20% |
6.10% |
6.50% |
5.60% |
|
Expected Rate of Return - Pension |
- |
- |
- |
- |
7.20% |
|
Compensation Rate - Pension |
3.90% |
3.90% |
3.80% |
3.90% |
4.10% |
|
Discount Rate - Post-Retirement |
5.50% |
5.40% |
6.80% |
6.80% |
6.00% |
|
Prepaid Benefit Cost - Pension |
51.0 |
17.0 |
17.0 |
68.0 |
22.0 |
|
Curr. Accrd. Benefit
Liability - Pension |
-16.0 |
-13.0 |
-13.0 |
-11.0 |
-9.0 |
|
L.T. Accrued Benefit Liability - Pension |
-371.0 |
-582.0 |
-589.0 |
-239.0 |
-313.0 |
|
Intangible Assets - Pension |
- |
- |
- |
- |
0.0 |
|
Other Comprehensive Inc./Loss - Pension |
- |
- |
- |
- |
0.0 |
|
Accrued Benefit Liability - Current - PR |
-8.0 |
-7.0 |
-8.0 |
-8.0 |
-7.0 |
|
L.T Accrd. Benefit Liability - Post-Ret. |
-221.0 |
-217.0 |
-248.0 |
-198.0 |
-201.0 |
|
AOCI - Pension |
- |
- |
- |
- |
295.0 |
|
AOCI - Post Retirement |
- |
- |
- |
- |
38.0 |
|
Net Assets Recognized on Balance Sheet |
-565.0 |
-802.0 |
-841.0 |
-388.0 |
-175.0 |
|
Equity Securities % - Pension |
52.00% |
48.00% |
48.00% |
51.00% |
54.00% |
|
Debt Securities % - Pension |
47.00% |
50.00% |
46.00% |
41.00% |
40.00% |
|
Other Investments % - Pension |
1.00% |
2.00% |
6.00% |
8.00% |
6.00% |
Annual Cash Flows
Financials in: USD (mil)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
Depreciation |
877.0 |
912.0 |
780.0 |
767.0 |
701.0 |
|
Asset abandonments
and impairments |
- |
9.0 |
13.0 |
32.0 |
21.0 |
|
Gain on Golden Peanut revaluation |
-71.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Taxes |
521.0 |
30.0 |
20.0 |
-142.0 |
109.0 |
|
(Gain) loss on sales of marketable secur |
- |
6.0 |
4.0 |
-38.0 |
-393.0 |
|
(Gain) loss on sale or exchange of uncon |
- |
-15.0 |
11.0 |
-8.0 |
-440.0 |
|
Stock compensation expense |
47.0 |
45.0 |
65.0 |
70.0 |
- |
|
Gain on Sale of Businesses |
- |
0.0 |
-24.0 |
-8.0 |
-209.0 |
|
Equity in (earnings) losses of affiliate |
-397.0 |
-326.0 |
54.0 |
-283.0 |
-193.0 |
|
Employ. Benefit |
- |
0.0 |
18.0 |
29.0 |
27.0 |
|
Pension and Postretirement Accruals |
4.0 |
- |
- |
- |
61.0 |
|
Other Net |
-121.0 |
84.0 |
26.0 |
164.0 |
- |
|
Deferred cash flow hedges |
-1.0 |
49.0 |
-235.0 |
161.0 |
- |
|
Charges on early extinguishment of debt |
15.0 |
75.0 |
0.0 |
0.0 |
- |
|
Other net |
- |
-110.0 |
-161.0 |
36.0 |
99.0 |
|
Segregated Cash/Inv. |
-1,035.0 |
74.0 |
-426.0 |
-614.0 |
-191.0 |
|
Receivables |
-2,882.0 |
740.0 |
3,680.0 |
-4,781.0 |
-953.0 |
|
Inventories |
-3,412.0 |
-144.0 |
1,899.0 |
-3,736.0 |
-1,215.0 |
|
Other Asset |
-257.0 |
-211.0 |
152.0 |
-174.0 |
-66.0 |
|
Payable/Accrued |
2,354.0 |
-453.0 |
-2,223.0 |
3,535.0 |
783.0 |
|
Cash from Operating Activities |
-2,340.0 |
2,684.0 |
5,341.0 |
-3,204.0 |
303.0 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-1,247.0 |
-1,607.0 |
-1,898.0 |
-1,779.0 |
-1,198.0 |
|
Proceeds from sales of property, plant, |
72.0 |
35.0 |
65.0 |
52.0 |
45.0 |
|
Proceeds from sale of businesses |
0.0 |
0.0 |
258.0 |
11.0 |
385.0 |
|
Business Acquis. |
-218.0 |
-62.0 |
-198.0 |
-13.0 |
-103.0 |
|
Investment in Affil. |
-31.0 |
-146.0 |
-15.0 |
-32.0 |
-53.0 |
|
Distributions from affiliates, excluding |
- |
57.0 |
11.0 |
54.0 |
97.0 |
|
Marketable Secs. |
-2,379.0 |
-1,387.0 |
-2,402.0 |
-1,405.0 |
-892.0 |
|
Sale Market. Secs. |
2,094.0 |
1,454.0 |
2,312.0 |
1,222.0 |
1,367.0 |
|
Other net |
34.0 |
-9.0 |
-4.0 |
-5.0 |
-3.0 |
|
Cash from Investing Activities |
-1,675.0 |
-1,665.0 |
-1,871.0 |
-1,895.0 |
-355.0 |
|
|
|
|
|
|
|
|
LT Borrowings |
1,564.0 |
27.0 |
125.0 |
3,095.0 |
1,166.0 |
|
Long Term Debt Payments |
-417.0 |
-552.0 |
-24.0 |
-69.0 |
-549.0 |
|
Debt repayment premium & costs |
-21.0 |
-71.0 |
0.0 |
0.0 |
- |
|
Line of Credit |
1,381.0 |
29.0 |
-2,890.0 |
2,574.0 |
-110.0 |
|
Purchase of Call Options |
- |
- |
- |
- |
-299.0 |
|
Sale of stock warrants related to conver |
- |
- |
- |
- |
170.0 |
|
Treasury Stock |
-301.0 |
-100.0 |
-100.0 |
-61.0 |
-533.0 |
|
Dividends Paid |
-395.0 |
-372.0 |
-347.0 |
-316.0 |
-281.0 |
|
Other net |
23.0 |
11.0 |
11.0 |
23.0 |
38.0 |
|
Shares issued related to equity unit con |
1,750.0 |
0.0 |
0.0 |
- |
- |
|
Cash from Financing Activities |
3,584.0 |
-1,028.0 |
-3,225.0 |
5,246.0 |
-398.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-431.0 |
-9.0 |
245.0 |
147.0 |
-450.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
1,113.0 |
|
Net Cash - Ending Balance |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Cash Interest Paid |
418.0 |
453.0 |
522.0 |
485.0 |
425.0 |
|
Cash Taxes Paid |
513.0 |
604.0 |
1,011.0 |
859.0 |
794.0 |
Financial health
|
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|
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|
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Ratio
Comparisons
|
Traded: New York Stock
Exchange: ADM |
Financials in:
USD (actual units) |
|
Industry: Food Processing |
As of
25-Nov-2011 |
|
Sector: Consumer/Non-Cyclical |
|
|
|
Company |
Industry |
Sector |
S&P 500 |
|
Valuation Ratios |
||||
|
8.52 |
21.55 |
18.04 |
19.68 |
|
|
12.25 |
30.50 |
31.70 |
32.79 |
|
|
8.62 |
13.50 |
13.50 |
10.71 |
|
|
0.46 |
0.55 |
0.66 |
1.00 |
|
|
0.22 |
1.70 |
2.38 |
2.57 |
|
|
1.01 |
4.07 |
6.62 |
3.67 |
|
|
1.05 |
7.67 |
7.14 |
5.21 |
|
|
6.28 |
15.25 |
13.96 |
14.22 |
|
|
- |
39.77 |
35.43 |
26.26 |
|
|
|
|
|
|
|
|
Dividends |
||||
|
2.51% |
2.90% |
3.17% |
2.26% |
|
|
0.53 |
2.61 |
2.64 |
1.99 |
|
|
10.88% |
6.61% |
4.04% |
0.08% |
|
|
18.87% |
43.97% |
46.79% |
25.98% |
|
|
|
|
|
|
|
|
Growth Rates (%) |
||||
|
30.38% |
11.20% |
9.73% |
15.58% |
|
|
34.96% |
10.00% |
20.06% |
17.69% |
|
|
17.13% |
6.97% |
6.14% |
8.97% |
|
|
26.81% |
-4.50% |
6.69% |
19.49% |
|
|
18.43% |
13.03% |
27.67% |
32.55% |
|
|
9.40% |
7.70% |
7.73% |
9.86% |
|
|
10.35% |
7.52% |
3.06% |
-2.04% |
|
|
|
|
|
|
|
|
Financial Strength |
||||
|
1.12 |
0.78 |
0.77 |
1.24 |
|
|
1.88 |
1.53 |
1.40 |
1.79 |
|
|
0.36 |
0.94 |
0.98 |
0.64 |
|
|
0.52 |
1.14 |
1.25 |
0.73 |
|
|
- |
12.42 |
16.43 |
13.80 |
|
|
|
|
|
|
|
|
Profitability Ratios (%) |
||||
|
5.28% |
33.20% |
44.52% |
45.21% |
|
|
5.93% |
31.81% |
44.52% |
44.91% |
|
|
4.31% |
14.25% |
20.28% |
24.43% |
|
|
4.94% |
13.52% |
19.53% |
22.84% |
|
|
3.34% |
11.94% |
17.97% |
20.63% |
|
|
3.73% |
11.15% |
17.19% |
18.28% |
|
|
3.75% |
10.29% |
16.99% |
17.95% |
|
|
4.26% |
9.62% |
17.19% |
17.10% |
|
|
2.49% |
7.06% |
13.74% |
13.65% |
|
|
2.94% |
6.55% |
12.87% |
12.10% |
|
|
33.49% |
30.47% |
27.02% |
28.45% |
|
|
30.87% |
32.51% |
28.54% |
29.92% |
|
|
|
|
|
|
|
|
Management Effectiveness (%) |
||||
|
5.52% |
7.05% |
11.53% |
8.54% |
|
|
6.09% |
7.12% |
11.74% |
8.40% |
|
|
8.43% |
4.72% |
8.43% |
7.90% |
|
|
8.92% |
5.31% |
9.81% |
8.27% |
|
|
12.75% |
21.45% |
29.23% |
19.72% |
|
|
14.26% |
21.78% |
31.40% |
20.06% |
|
|
|
|
|
|
|
|
Efficiency |
||||
|
2,794,104.00 |
568,101.59 |
633,399.19 |
927,613.77 |
|
|
69,609.12 |
34,981.76 |
83,482.45 |
116,121.92 |
|
|
9.27 |
10.88 |
12.19 |
13.25 |
|
|
8.07 |
6.83 |
7.35 |
14.53 |
|
|
2.21 |
1.10 |
1.00 |
0.93 |
|
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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Stock Report
Stock snapshots
|
Traded: New York Stock
Exchange: ADM |
||||||||||||||||||||||||||||||
|
As of 25-Nov-2011 US Dollars |
||||||||||||||||||||||||||||||
|
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|
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|
|
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|
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|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
Revenue |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
Total Revenue |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
76,376.0 |
57,839.0 |
65,118.0 |
65,974.0 |
40,781.0 |
|
Cost of Revenue, Total |
76,376.0 |
57,839.0 |
65,118.0 |
65,974.0 |
40,781.0 |
|
Gross Profit |
4,300.0 |
3,843.0 |
4,089.0 |
3,842.0 |
3,237.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1,611.0 |
1,398.0 |
1,412.0 |
1,419.0 |
1,195.0 |
|
Total Selling/General/Administrative Expenses |
1,611.0 |
1,398.0 |
1,412.0 |
1,419.0 |
1,195.0 |
|
Other Unusual Expense (Income) |
15.0 |
75.0 |
0.0 |
0.0 |
46.0 |
|
Unusual Expense (Income) |
15.0 |
75.0 |
0.0 |
0.0 |
46.0 |
|
Total Operating Expense |
78,002.0 |
59,312.0 |
66,530.0 |
67,393.0 |
42,022.0 |
|
|
|
|
|
|
|
|
Operating Income |
2,674.0 |
2,370.0 |
2,677.0 |
2,423.0 |
1,996.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-482.0 |
-422.0 |
-469.0 |
-513.0 |
-434.0 |
|
Interest Expense, Net Non-Operating |
-482.0 |
-422.0 |
-469.0 |
-513.0 |
-434.0 |
|
Investment Income -
Non-Operating |
723.0 |
637.0 |
309.0 |
722.0 |
944.0 |
|
Interest/Investment Income - Non-Operating |
723.0 |
637.0 |
309.0 |
722.0 |
944.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
241.0 |
215.0 |
-160.0 |
209.0 |
510.0 |
|
Gain (Loss) on Sale of Assets |
71.0 |
0.0 |
24.0 |
17.0 |
649.0 |
|
Other Non-Operating Income (Expense) |
29.0 |
0.0 |
-41.0 |
-55.0 |
-1.0 |
|
Other, Net |
29.0 |
0.0 |
-41.0 |
-55.0 |
-1.0 |
|
Income Before Tax |
3,015.0 |
2,585.0 |
2,500.0 |
2,594.0 |
3,154.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Income After Tax |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
18.0 |
11.0 |
-4.0 |
-6.0 |
- |
|
Net Income Before Extraord Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Net Income |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord
Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
642.0 |
643.0 |
643.0 |
644.0 |
651.0 |
|
Basic EPS Excl Extraord Items |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Basic/Primary EPS Incl Extraord
Items |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Dilution Adjustment |
13.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
2,049.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Diluted Weighted Average Shares |
654.0 |
644.0 |
644.0 |
646.0 |
656.0 |
|
Diluted EPS Excl Extraord Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
Diluted EPS Incl Extraord
Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
Dividends per Share - Common Stock Primary Issue |
0.62 |
0.58 |
0.54 |
0.49 |
0.43 |
|
Gross Dividends - Common Stock |
395.0 |
372.0 |
347.0 |
316.0 |
281.0 |
|
Interest Expense, Supplemental |
482.0 |
422.0 |
469.0 |
513.0 |
434.0 |
|
Interest Capitalized, Supplemental |
-7.0 |
-75.0 |
-95.0 |
-52.0 |
-24.0 |
|
Depreciation, Supplemental |
877.0 |
857.0 |
730.0 |
721.0 |
701.0 |
|
Total Special Items |
-56.0 |
75.0 |
-24.0 |
29.0 |
-603.0 |
|
Normalized Income Before Tax |
2,959.0 |
2,660.0 |
2,476.0 |
2,623.0 |
2,551.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-18.5 |
19.3 |
-7.8 |
-5.3 |
-189.7 |
|
Inc Tax Ex Impact of Sp Items |
978.5 |
685.3 |
804.2 |
802.7 |
802.3 |
|
Normalized Income After Tax |
1,980.5 |
1,974.7 |
1,671.8 |
1,820.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1,998.5 |
1,985.7 |
1,667.8 |
1,814.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.11 |
3.09 |
2.59 |
2.82 |
2.69 |
|
Diluted Normalized EPS |
3.08 |
3.08 |
2.59 |
2.81 |
2.67 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
46.0 |
- |
|
Rental Expenses |
251.0 |
241.0 |
217.0 |
201.0 |
166.0 |
|
Research & Development Exp, Supplemental |
60.0 |
56.0 |
50.0 |
49.0 |
45.0 |
|
Reported Gross Profit |
4,300.0 |
3,843.0 |
4,089.0 |
3,842.0 |
3,237.0 |
|
Normalized EBIT |
2,689.0 |
2,445.0 |
2,677.0 |
2,423.0 |
2,042.0 |
|
Normalized EBITDA |
3,566.0 |
3,302.0 |
3,407.0 |
3,190.0 |
2,743.0 |
|
Current Tax - Domestic |
251.0 |
422.0 |
626.0 |
540.0 |
691.0 |
|
Current Tax - Foreign |
222.0 |
195.0 |
139.0 |
363.0 |
124.0 |
|
Current Tax - Local |
10.0 |
18.0 |
28.0 |
46.0 |
68.0 |
|
Current Tax - Total |
483.0 |
635.0 |
793.0 |
949.0 |
883.0 |
|
Deferred Tax - Domestic |
483.0 |
107.0 |
-4.0 |
-63.0 |
-24.0 |
|
Deferred Tax - Foreign |
-12.0 |
-72.0 |
13.0 |
-89.0 |
149.0 |
|
Deferred Tax - Local |
43.0 |
-4.0 |
10.0 |
11.0 |
-16.0 |
|
Deferred Tax - Total |
514.0 |
31.0 |
19.0 |
-141.0 |
109.0 |
|
Income Tax - Total |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Interest Cost - Domestic |
120.0 |
119.0 |
111.0 |
109.0 |
94.0 |
|
Service Cost - Domestic |
71.0 |
58.0 |
52.0 |
68.0 |
62.0 |
|
Expected Return on Assets - Domestic |
-132.0 |
-117.0 |
-113.0 |
-121.0 |
-102.0 |
|
Actuarial Gains and Losses - Domestic |
59.0 |
31.0 |
2.0 |
17.0 |
19.0 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Pension, Net - Domestic |
5.0 |
6.0 |
6.0 |
5.0 |
6.0 |
|
Domestic Pension Plan Expense |
123.0 |
97.0 |
58.0 |
78.0 |
79.0 |
|
Interest Cost - Post-Retirement |
13.0 |
16.0 |
13.0 |
12.0 |
10.0 |
|
Service Cost - Post-Retirement |
8.0 |
9.0 |
7.0 |
9.0 |
7.0 |
|
Actuarial Gains and Losses - Post-Retir. |
0.0 |
5.0 |
1.0 |
2.0 |
1.0 |
|
Curtailments & Settlements - Post-Retir. |
0.0 |
0.0 |
-15.0 |
- |
- |
|
Other Post-Retirement, Net |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
|
Post-Retirement Plan Expense |
20.0 |
29.0 |
5.0 |
22.0 |
17.0 |
|
Defined Contribution Expense - Domestic |
43.0 |
40.0 |
35.0 |
31.0 |
29.0 |
|
Total Pension Expense |
186.0 |
166.0 |
98.0 |
131.0 |
125.0 |
|
Discount Rate - Domestic |
5.20% |
6.10% |
6.50% |
5.60% |
5.60% |
|
Discount Rate - Post-Retirement |
5.40% |
6.30% |
6.80% |
6.00% |
6.00% |
|
Expected Rate of Return - Domestic |
7.10% |
7.10% |
7.20% |
7.60% |
7.20% |
|
Compensation Rate - Domestic |
3.90% |
3.80% |
3.90% |
4.10% |
4.10% |
|
Total Plan Interest Cost |
133.0 |
135.0 |
124.0 |
121.0 |
104.0 |
|
Total Plan Service Cost |
79.0 |
67.0 |
59.0 |
77.0 |
69.0 |
|
Total Plan Expected Return |
-132.0 |
-117.0 |
-113.0 |
-121.0 |
-102.0 |
|
Total Plan Other Expense |
4.0 |
5.0 |
5.0 |
4.0 |
5.0 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Sales |
21,902.0 |
22,870.0 |
20,077.0 |
20,930.0 |
16,799.0 |
|
Revenue |
21,902.0 |
22,870.0 |
20,077.0 |
20,930.0 |
16,799.0 |
|
Total Revenue |
21,902.0 |
22,870.0 |
20,077.0 |
20,930.0 |
16,799.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
20,868.0 |
21,772.0 |
18,917.0 |
19,696.0 |
15,991.0 |
|
Cost of Revenue, Total |
20,868.0 |
21,772.0 |
18,917.0 |
19,696.0 |
15,991.0 |
|
Gross Profit |
1,034.0 |
1,098.0 |
1,160.0 |
1,234.0 |
808.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
407.0 |
423.0 |
395.0 |
412.0 |
381.0 |
|
Total Selling/General/Administrative Expenses |
407.0 |
423.0 |
395.0 |
412.0 |
381.0 |
|
Other Unusual Expense (Income) |
12.0 |
15.0 |
0.0 |
- |
0.0 |
|
Unusual Expense (Income) |
12.0 |
15.0 |
0.0 |
- |
0.0 |
|
Total Operating Expense |
21,287.0 |
22,210.0 |
19,312.0 |
20,108.0 |
16,372.0 |
|
|
|
|
|
|
|
|
Operating Income |
615.0 |
660.0 |
765.0 |
822.0 |
427.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-113.0 |
-129.0 |
-121.0 |
-115.0 |
-117.0 |
|
Interest Expense, Net Non-Operating |
-113.0 |
-129.0 |
-121.0 |
-115.0 |
-117.0 |
|
Investment Income -
Non-Operating |
169.0 |
247.0 |
109.0 |
234.0 |
120.0 |
|
Interest/Investment Income - Non-Operating |
169.0 |
247.0 |
109.0 |
234.0 |
120.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
56.0 |
118.0 |
-12.0 |
119.0 |
3.0 |
|
Gain (Loss) on Sale of Assets |
- |
0.0 |
0.0 |
71.0 |
- |
|
Other Non-Operating Income (Expense) |
-11.0 |
-14.0 |
38.0 |
-14.0 |
32.0 |
|
Other, Net |
-11.0 |
-14.0 |
38.0 |
-14.0 |
32.0 |
|
Income Before Tax |
660.0 |
764.0 |
791.0 |
998.0 |
462.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
199.0 |
385.0 |
223.0 |
269.0 |
120.0 |
|
Income After Tax |
461.0 |
379.0 |
568.0 |
729.0 |
342.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.0 |
2.0 |
10.0 |
3.0 |
3.0 |
|
Net Income Before Extraord Items |
460.0 |
381.0 |
578.0 |
732.0 |
345.0 |
|
Net Income |
460.0 |
381.0 |
578.0 |
732.0 |
345.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord
Items |
460.0 |
381.0 |
578.0 |
732.0 |
345.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
460.0 |
381.0 |
578.0 |
732.0 |
345.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
673.0 |
651.0 |
638.0 |
639.0 |
640.0 |
|
Basic EPS Excl Extraord Items |
0.68 |
0.59 |
0.91 |
1.15 |
0.54 |
|
Basic/Primary EPS Incl Extraord
Items |
0.68 |
0.59 |
0.91 |
1.15 |
0.54 |
|
Dilution Adjustment |
- |
0.0 |
13.0 |
- |
- |
|
Diluted Net Income |
460.0 |
381.0 |
591.0 |
732.0 |
345.0 |
|
Diluted Weighted Average Shares |
674.0 |
652.0 |
684.0 |
641.0 |
641.0 |
|
Diluted EPS Excl Extraord Items |
0.68 |
0.58 |
0.86 |
1.14 |
0.54 |
|
Diluted EPS Incl Extraord
Items |
0.68 |
0.58 |
0.86 |
1.14 |
0.54 |
|
Dividends per Share - Common Stock Primary Issue |
0.16 |
0.16 |
0.16 |
0.15 |
0.15 |
|
Gross Dividends - Common Stock |
107.0 |
102.0 |
101.0 |
96.0 |
96.0 |
|
Interest Expense, Supplemental |
113.0 |
129.0 |
121.0 |
115.0 |
117.0 |
|
Depreciation, Supplemental |
207.0 |
212.0 |
202.0 |
211.0 |
252.0 |
|
Total Special Items |
12.0 |
15.0 |
0.0 |
-71.0 |
0.0 |
|
Normalized Income Before Tax |
672.0 |
779.0 |
791.0 |
927.0 |
462.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
3.6 |
7.6 |
0.0 |
-19.1 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
202.6 |
392.6 |
223.0 |
249.9 |
120.0 |
|
Normalized Income After Tax |
469.4 |
386.4 |
568.0 |
677.1 |
342.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
468.4 |
388.4 |
578.0 |
680.1 |
345.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.70 |
0.60 |
0.91 |
1.06 |
0.54 |
|
Diluted Normalized EPS |
0.69 |
0.60 |
0.86 |
1.06 |
0.54 |
|
Reported Gross Profit |
1,034.0 |
- |
1,160.0 |
1,234.0 |
808.0 |
|
Normalized EBIT |
627.0 |
675.0 |
765.0 |
822.0 |
427.0 |
|
Normalized EBITDA |
834.0 |
887.0 |
967.0 |
1,033.0 |
679.0 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Short Term Investments |
739.0 |
394.0 |
500.0 |
455.0 |
212.0 |
|
Cash and Short Term Investments |
1,354.0 |
1,440.0 |
1,555.0 |
1,265.0 |
875.0 |
|
Accounts Receivable -
Trade, Gross |
9,916.0 |
6,219.0 |
7,414.0 |
11,572.0 |
6,473.0 |
|
Provision for Doubtful
Accounts |
-100.0 |
-97.0 |
-103.0 |
-89.0 |
-69.0 |
|
Trade Accounts Receivable - Net |
9,816.0 |
6,122.0 |
7,311.0 |
11,483.0 |
6,404.0 |
|
Total Receivables, Net |
9,816.0 |
6,122.0 |
7,311.0 |
11,483.0 |
6,404.0 |
|
Inventories - Other |
11,505.0 |
7,450.0 |
7,304.0 |
9,729.0 |
- |
|
LIFO Reserve |
550.0 |
421.0 |
478.0 |
431.0 |
- |
|
Total Inventory |
12,055.0 |
7,871.0 |
7,782.0 |
10,160.0 |
6,060.0 |
|
Restricted Cash - Current |
3,396.0 |
2,337.0 |
2,430.0 |
2,035.0 |
1,424.0 |
|
Other Current Assets |
883.0 |
624.0 |
330.0 |
512.0 |
359.0 |
|
Other Current Assets, Total |
4,279.0 |
2,961.0 |
2,760.0 |
2,547.0 |
1,783.0 |
|
Total Current Assets |
27,504.0 |
18,394.0 |
19,408.0 |
25,455.0 |
15,122.0 |
|
|
|
|
|
|
|
|
Buildings |
4,413.0 |
4,008.0 |
3,304.0 |
3,207.0 |
3,002.0 |
|
Land/Improvements |
305.0 |
277.0 |
240.0 |
238.0 |
227.0 |
|
Machinery/Equipment |
16,245.0 |
15,107.0 |
13,052.0 |
12,410.0 |
11,822.0 |
|
Construction in
Progress |
765.0 |
612.0 |
2,245.0 |
1,924.0 |
884.0 |
|
Property/Plant/Equipment - Gross |
21,728.0 |
20,004.0 |
18,841.0 |
17,779.0 |
15,935.0 |
|
Accumulated Depreciation |
-12,228.0 |
-11,292.0 |
-10,891.0 |
-10,654.0 |
-9,925.0 |
|
Property/Plant/Equipment - Net |
9,500.0 |
8,712.0 |
7,950.0 |
7,125.0 |
6,010.0 |
|
Goodwill, Net |
602.0 |
523.0 |
532.0 |
506.0 |
317.0 |
|
LT Investment - Affiliate Companies |
3,240.0 |
2,799.0 |
2,459.0 |
2,773.0 |
2,498.0 |
|
LT Investments - Other |
666.0 |
678.0 |
626.0 |
590.0 |
657.0 |
|
Long Term Investments |
3,906.0 |
3,477.0 |
3,085.0 |
3,363.0 |
3,155.0 |
|
Other Long Term Assets |
681.0 |
702.0 |
607.0 |
607.0 |
514.0 |
|
Other Long Term Assets, Total |
681.0 |
702.0 |
607.0 |
607.0 |
514.0 |
|
Total Assets |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
7,550.0 |
5,538.0 |
5,786.0 |
6,544.0 |
4,919.0 |
|
Accrued Expenses |
3,615.0 |
2,577.0 |
2,695.0 |
4,722.0 |
2,416.0 |
|
Notes Payable/Short Term Debt |
1,875.0 |
374.0 |
356.0 |
3,123.0 |
468.0 |
|
Current Portion - Long Term Debt/Capital Leases |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Total Current Liabilities |
13,218.0 |
8,833.0 |
8,885.0 |
14,621.0 |
7,868.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
Total Long Term Debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
Total Debt |
10,319.0 |
7,548.0 |
7,996.0 |
11,045.0 |
5,285.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
859.0 |
439.0 |
308.0 |
473.0 |
532.0 |
|
Deferred Income Tax |
859.0 |
439.0 |
308.0 |
473.0 |
532.0 |
|
Minority Interest |
30.0 |
22.0 |
26.0 |
- |
- |
|
Other Long Term Liabilities |
1,012.0 |
1,075.0 |
1,144.0 |
782.0 |
713.0 |
|
Other Liabilities, Total |
1,012.0 |
1,075.0 |
1,144.0 |
782.0 |
713.0 |
|
Total Liabilities |
23,385.0 |
17,199.0 |
17,955.0 |
23,566.0 |
13,865.0 |
|
|
|
|
|
|
|
|
Common Stock |
6,636.0 |
5,151.0 |
5,204.0 |
5,039.0 |
5,090.0 |
|
Common Stock |
6,636.0 |
5,151.0 |
5,204.0 |
5,039.0 |
5,090.0 |
|
Retained Earnings (Accumulated Deficit) |
11,996.0 |
10,357.0 |
8,778.0 |
7,494.0 |
5,982.0 |
|
Other Comprehensive Income |
176.0 |
-899.0 |
-355.0 |
957.0 |
181.0 |
|
Other Equity, Total |
176.0 |
-899.0 |
-355.0 |
957.0 |
181.0 |
|
Total Equity |
18,808.0 |
14,609.0 |
13,627.0 |
13,490.0 |
11,253.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders
Equity |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Total Common Shares Outstanding |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Employees |
30,700 |
29,300 |
28,200 |
27,600 |
27,300 |
|
Number of Common Shareholders |
12,740 |
15,384 |
16,877 |
17,330 |
18,252 |
|
Total Long Term Debt, Supplemental |
8,580.0 |
7,174.0 |
7,901.0 |
7,960.0 |
4,897.0 |
|
Long Term Debt Maturing within 1 Year |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Long Term Debt Maturing in Year 2 |
1,800.0 |
156.0 |
328.0 |
43.0 |
46.0 |
|
Long Term Debt Maturing in Year 3 |
1,100.0 |
272.0 |
151.0 |
283.0 |
46.0 |
|
Long Term Debt Maturing in Year 4 |
28.0 |
1,050.0 |
268.0 |
118.0 |
212.5 |
|
Long Term Debt Maturing in Year 5 |
17.0 |
25.0 |
1,215.0 |
261.0 |
212.5 |
|
Long Term Debt Maturing in 2-3 Years |
2,900.0 |
428.0 |
479.0 |
326.0 |
92.0 |
|
Long Term Debt Maturing in 4-5 Years |
45.0 |
1,075.0 |
1,483.0 |
379.0 |
425.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
5,457.0 |
5,327.0 |
5,891.0 |
7,023.0 |
4,315.0 |
|
Total Operating Leases, Supplemental |
1,163.0 |
1,381.0 |
1,274.0 |
1,364.0 |
900.0 |
|
Operating Lease Payments Due in Year 1 |
233.0 |
235.0 |
224.0 |
403.0 |
318.0 |
|
Operating Lease Payments Due in Year 2 |
183.0 |
189.0 |
205.0 |
217.0 |
144.0 |
|
Operating Lease Payments Due in Year 3 |
151.0 |
182.0 |
235.0 |
185.0 |
97.0 |
|
Operating Lease Payments Due in Year 4 |
121.0 |
156.0 |
198.0 |
129.0 |
79.0 |
|
Operating Lease Payments Due in Year 5 |
104.0 |
177.0 |
139.0 |
110.0 |
53.0 |
|
Operating Lease Pymts. Due in 2-3 Years |
334.0 |
371.0 |
440.0 |
402.0 |
241.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
225.0 |
333.0 |
337.0 |
239.0 |
132.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
371.0 |
442.0 |
273.0 |
320.0 |
209.0 |
|
Pension Obligation - Domestic |
2,470.0 |
2,299.0 |
2,012.0 |
1,851.0 |
1,916.0 |
|
Post-Retirement Obligation |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Plan Assets - Domestic |
2,134.0 |
1,721.0 |
1,427.0 |
1,662.0 |
1,611.0 |
|
Funded Status - Domestic |
-336.0 |
-578.0 |
-585.0 |
-189.0 |
-305.0 |
|
Funded Status - Post-Retirement |
-229.0 |
-224.0 |
-256.0 |
-206.0 |
-208.0 |
|
Accumulated Obligation - Domestic |
2,300.0 |
2,100.0 |
1,800.0 |
1,700.0 |
1,700.0 |
|
Accumulated Obligation - Post-Retirement |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Total Funded Status |
-565.0 |
-802.0 |
-841.0 |
-395.0 |
-513.0 |
|
Discount Rate - Domestic |
5.50% |
5.20% |
6.10% |
6.50% |
5.60% |
|
Discount Rate - Post-Retirement |
5.50% |
5.40% |
6.80% |
6.80% |
6.00% |
|
Expected Rate of Return - Domestic |
- |
- |
- |
- |
7.20% |
|
Compensation Rate - Domestic |
3.90% |
3.90% |
3.80% |
3.90% |
4.10% |
|
Prepaid Benefits - Domestic |
51.0 |
17.0 |
17.0 |
68.0 |
22.0 |
|
Intangible Assets - Domestic |
- |
- |
- |
- |
0.0 |
|
Accrued Liabilities - Domestic |
-387.0 |
-595.0 |
-602.0 |
-250.0 |
-322.0 |
|
Accrued Liabilities - Post-Retirement |
-229.0 |
-224.0 |
-256.0 |
-206.0 |
-208.0 |
|
Other Assets, Net - Domestic |
- |
- |
- |
- |
295.0 |
|
Other Assets, Net - Post-Retirement |
- |
- |
- |
- |
38.0 |
|
Net Assets Recognized on Balance Sheet |
-565.0 |
-802.0 |
-841.0 |
-388.0 |
-175.0 |
|
Equity % - Domestic |
52.00% |
48.00% |
48.00% |
51.00% |
54.00% |
|
Debt Securities % - Domestic |
47.00% |
50.00% |
46.00% |
41.00% |
40.00% |
|
Other Investments % - Domestic |
1.00% |
2.00% |
6.00% |
8.00% |
6.00% |
|
Total Plan Obligations |
2,699.0 |
2,523.0 |
2,268.0 |
2,057.0 |
2,124.0 |
|
Total Plan Assets |
2,134.0 |
1,721.0 |
1,427.0 |
1,662.0 |
1,611.0 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1,320.0 |
615.0 |
858.0 |
526.0 |
862.0 |
|
Short Term Investments |
506.0 |
739.0 |
765.0 |
633.0 |
508.0 |
|
Cash and Short Term Investments |
1,826.0 |
1,354.0 |
1,623.0 |
1,159.0 |
1,370.0 |
|
Trade Accounts Receivable - Net |
10,336.0 |
9,816.0 |
10,428.0 |
10,625.0 |
8,174.0 |
|
Total Receivables, Net |
10,336.0 |
9,816.0 |
10,428.0 |
10,625.0 |
8,174.0 |
|
Total Inventory |
11,122.0 |
12,055.0 |
13,409.0 |
12,654.0 |
9,024.0 |
|
Restricted Cash - Current |
3,377.0 |
3,396.0 |
3,051.0 |
3,224.0 |
2,932.0 |
|
Other Current Assets |
618.0 |
883.0 |
741.0 |
695.0 |
586.0 |
|
Other Current Assets, Total |
3,995.0 |
4,279.0 |
3,792.0 |
3,919.0 |
3,518.0 |
|
Total Current Assets |
27,279.0 |
27,504.0 |
29,252.0 |
28,357.0 |
22,086.0 |
|
|
|
|
|
|
|
|
Buildings |
4,397.0 |
4,413.0 |
4,371.0 |
4,364.0 |
4,124.0 |
|
Land/Improvements |
307.0 |
305.0 |
302.0 |
298.0 |
289.0 |
|
Machinery/Equipment |
16,218.0 |
16,245.0 |
16,046.0 |
15,838.0 |
15,484.0 |
|
Construction in
Progress |
935.0 |
765.0 |
630.0 |
662.0 |
648.0 |
|
Property/Plant/Equipment - Gross |
21,857.0 |
21,728.0 |
21,349.0 |
21,162.0 |
20,545.0 |
|
Accumulated Depreciation |
-12,202.0 |
-12,228.0 |
-12,034.0 |
-11,968.0 |
-11,637.0 |
|
Property/Plant/Equipment - Net |
9,655.0 |
9,500.0 |
9,315.0 |
9,194.0 |
8,908.0 |
|
Goodwill, Net |
607.0 |
602.0 |
594.0 |
587.0 |
531.0 |
|
LT Investment - Affiliate Companies |
3,202.0 |
3,240.0 |
3,062.0 |
2,975.0 |
2,961.0 |
|
LT Investments - Other |
306.0 |
666.0 |
847.0 |
823.0 |
816.0 |
|
Long Term Investments |
3,508.0 |
3,906.0 |
3,909.0 |
3,798.0 |
3,777.0 |
|
Other Long Term Assets |
399.0 |
681.0 |
693.0 |
674.0 |
734.0 |
|
Other Long Term Assets, Total |
399.0 |
681.0 |
693.0 |
674.0 |
734.0 |
|
Total Assets |
41,448.0 |
42,193.0 |
43,763.0 |
42,610.0 |
36,036.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
7,371.0 |
7,550.0 |
7,703.0 |
8,141.0 |
7,025.0 |
|
Accrued Expenses |
4,289.0 |
3,615.0 |
3,252.0 |
4,085.0 |
3,141.0 |
|
Notes Payable/Short Term Debt |
1,170.0 |
1,875.0 |
5,732.0 |
5,632.0 |
1,721.0 |
|
Current Portion - Long Term Debt/Capital Leases |
1,649.0 |
178.0 |
176.0 |
205.0 |
348.0 |
|
Total Current Liabilities |
14,479.0 |
13,218.0 |
16,863.0 |
18,063.0 |
12,235.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
6,678.0 |
8,266.0 |
8,350.0 |
6,848.0 |
6,834.0 |
|
Total Long Term Debt |
6,678.0 |
8,266.0 |
8,350.0 |
6,848.0 |
6,834.0 |
|
Total Debt |
9,497.0 |
10,319.0 |
14,258.0 |
12,685.0 |
8,903.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
836.0 |
859.0 |
517.0 |
546.0 |
395.0 |
|
Deferred Income Tax |
836.0 |
859.0 |
517.0 |
546.0 |
395.0 |
|
Minority Interest |
26.0 |
30.0 |
28.0 |
18.0 |
19.0 |
|
Other Long Term Liabilities |
1,046.0 |
1,012.0 |
1,353.0 |
1,249.0 |
1,185.0 |
|
Other Liabilities, Total |
1,046.0 |
1,012.0 |
1,353.0 |
1,249.0 |
1,185.0 |
|
Total Liabilities |
23,065.0 |
23,385.0 |
27,111.0 |
26,724.0 |
20,668.0 |
|
|
|
|
|
|
|
|
Common Stock |
6,408.0 |
6,636.0 |
5,086.0 |
5,095.0 |
5,138.0 |
|
Common Stock |
6,408.0 |
6,636.0 |
5,086.0 |
5,095.0 |
5,138.0 |
|
Retained Earnings (Accumulated Deficit) |
12,349.0 |
11,996.0 |
11,718.0 |
11,242.0 |
10,605.0 |
|
Other Comprehensive Income |
-374.0 |
176.0 |
-152.0 |
-451.0 |
-375.0 |
|
Other Equity, Total |
-374.0 |
176.0 |
-152.0 |
-451.0 |
-375.0 |
|
Total Equity |
18,383.0 |
18,808.0 |
16,652.0 |
15,886.0 |
15,368.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders
Equity |
41,448.0 |
42,193.0 |
43,763.0 |
42,610.0 |
36,036.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary Issue |
668.0 |
676.0 |
638.0 |
637.0 |
639.0 |
|
Total Common Shares Outstanding |
668.0 |
676.0 |
638.0 |
637.0 |
639.0 |
|
Total Long Term Debt, Supplemental |
1,649.0 |
178.0 |
176.0 |
205.0 |
348.0 |
|
Long Term Debt Maturing within 1 Year |
1,649.0 |
178.0 |
176.0 |
205.0 |
348.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
Depreciation |
877.0 |
912.0 |
780.0 |
767.0 |
701.0 |
|
Depreciation/Depletion |
877.0 |
912.0 |
780.0 |
767.0 |
701.0 |
|
Deferred Taxes |
521.0 |
30.0 |
20.0 |
-142.0 |
109.0 |
|
Unusual Items |
-56.0 |
75.0 |
4.0 |
-22.0 |
-1,021.0 |
|
Equity in Net Earnings (Loss) |
-397.0 |
-326.0 |
54.0 |
-283.0 |
-193.0 |
|
Other Non-Cash Items |
-71.0 |
68.0 |
-287.0 |
460.0 |
187.0 |
|
Non-Cash Items |
-524.0 |
-183.0 |
-229.0 |
155.0 |
-1,027.0 |
|
Accounts Receivable |
-2,882.0 |
740.0 |
3,680.0 |
-4,781.0 |
-953.0 |
|
Inventories |
-3,412.0 |
-144.0 |
1,899.0 |
-3,736.0 |
-1,215.0 |
|
Other Assets |
-1,292.0 |
-137.0 |
-274.0 |
-788.0 |
-257.0 |
|
Payable/Accrued |
2,354.0 |
-453.0 |
-2,223.0 |
3,535.0 |
783.0 |
|
Changes in Working Capital |
-5,232.0 |
6.0 |
3,082.0 |
-5,770.0 |
-1,642.0 |
|
Cash from Operating Activities |
-2,340.0 |
2,684.0 |
5,341.0 |
-3,204.0 |
303.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,247.0 |
-1,607.0 |
-1,898.0 |
-1,779.0 |
-1,198.0 |
|
Capital Expenditures |
-1,247.0 |
-1,607.0 |
-1,898.0 |
-1,779.0 |
-1,198.0 |
|
Acquisition of Business |
-218.0 |
-62.0 |
-198.0 |
-13.0 |
-103.0 |
|
Sale of Business |
0.0 |
0.0 |
258.0 |
11.0 |
385.0 |
|
Sale of Fixed Assets |
72.0 |
35.0 |
65.0 |
52.0 |
45.0 |
|
Sale/Maturity of Investment |
2,094.0 |
1,454.0 |
2,312.0 |
1,222.0 |
1,367.0 |
|
Investment, Net |
-31.0 |
-146.0 |
-15.0 |
-32.0 |
-53.0 |
|
Purchase of Investments |
-2,379.0 |
-1,387.0 |
-2,402.0 |
-1,405.0 |
-892.0 |
|
Other Investing Cash Flow |
34.0 |
48.0 |
7.0 |
49.0 |
94.0 |
|
Other Investing Cash Flow Items, Total |
-428.0 |
-58.0 |
27.0 |
-116.0 |
843.0 |
|
Cash from Investing Activities |
-1,675.0 |
-1,665.0 |
-1,871.0 |
-1,895.0 |
-355.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
2.0 |
-60.0 |
11.0 |
23.0 |
-261.0 |
|
Financing Cash Flow Items |
2.0 |
-60.0 |
11.0 |
23.0 |
-261.0 |
|
Cash Dividends Paid - Common |
-395.0 |
-372.0 |
-347.0 |
-316.0 |
-281.0 |
|
Total Cash Dividends Paid |
-395.0 |
-372.0 |
-347.0 |
-316.0 |
-281.0 |
|
Sale/Issuance of
Common |
1,750.0 |
0.0 |
0.0 |
- |
- |
|
Repurchase/Retirement
of Common |
-301.0 |
-100.0 |
-100.0 |
-61.0 |
-533.0 |
|
Common Stock, Net |
1,449.0 |
-100.0 |
-100.0 |
-61.0 |
-533.0 |
|
Warrants Converted |
- |
- |
- |
- |
170.0 |
|
Issuance (Retirement) of Stock, Net |
1,449.0 |
-100.0 |
-100.0 |
-61.0 |
-363.0 |
|
Short Term Debt, Net |
1,381.0 |
29.0 |
-2,890.0 |
2,574.0 |
-110.0 |
|
Long Term Debt Issued |
1,564.0 |
27.0 |
125.0 |
3,095.0 |
1,166.0 |
|
Long Term Debt
Reduction |
-417.0 |
-552.0 |
-24.0 |
-69.0 |
-549.0 |
|
Long Term Debt, Net |
1,147.0 |
-525.0 |
101.0 |
3,026.0 |
617.0 |
|
Issuance (Retirement) of Debt, Net |
2,528.0 |
-496.0 |
-2,789.0 |
5,600.0 |
507.0 |
|
Cash from Financing Activities |
3,584.0 |
-1,028.0 |
-3,225.0 |
5,246.0 |
-398.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-431.0 |
-9.0 |
245.0 |
147.0 |
-450.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
1,113.0 |
|
Net Cash - Ending Balance |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Cash Interest Paid |
418.0 |
453.0 |
522.0 |
485.0 |
425.0 |
|
Cash Taxes Paid |
513.0 |
604.0 |
1,011.0 |
859.0 |
794.0 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
461.0 |
2,018.0 |
1,639.0 |
1,071.0 |
342.0 |
|
Depreciation |
207.0 |
877.0 |
665.0 |
463.0 |
252.0 |
|
Depreciation/Depletion |
207.0 |
877.0 |
665.0 |
463.0 |
252.0 |
|
Deferred Taxes |
21.0 |
521.0 |
185.0 |
126.0 |
-73.0 |
|
Unusual Items |
- |
-56.0 |
-71.0 |
-71.0 |
- |
|
Equity in Net Earnings (Loss) |
-57.0 |
-397.0 |
-222.0 |
-181.0 |
-86.0 |
|
Other Non-Cash Items |
150.0 |
-71.0 |
25.0 |
102.0 |
75.0 |
|
Non-Cash Items |
93.0 |
-524.0 |
-268.0 |
-150.0 |
-11.0 |
|
Accounts Receivable |
-874.0 |
-2,882.0 |
-3,590.0 |
-4,025.0 |
-1,685.0 |
|
Inventories |
809.0 |
-3,412.0 |
-5,121.0 |
-4,620.0 |
-1,157.0 |
|
Other Assets |
246.0 |
-1,292.0 |
-891.0 |
-999.0 |
-530.0 |
|
Payable/Accrued |
1,124.0 |
2,354.0 |
2,632.0 |
4,051.0 |
1,991.0 |
|
Changes in Working Capital |
1,305.0 |
-5,232.0 |
-6,970.0 |
-5,593.0 |
-1,381.0 |
|
Cash from Operating Activities |
2,087.0 |
-2,340.0 |
-4,749.0 |
-4,083.0 |
-871.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-443.0 |
-1,247.0 |
-913.0 |
-645.0 |
-335.0 |
|
Capital Expenditures |
-443.0 |
-1,247.0 |
-913.0 |
-645.0 |
-335.0 |
|
Acquisition of Business |
-12.0 |
-218.0 |
-206.0 |
-163.0 |
0.0 |
|
Sale of Business |
- |
0.0 |
- |
- |
- |
|
Sale of Fixed Assets |
3.0 |
72.0 |
52.0 |
45.0 |
41.0 |
|
Sale/Maturity of Investment |
481.0 |
2,094.0 |
1,370.0 |
693.0 |
375.0 |
|
Investment, Net |
- |
-31.0 |
- |
- |
- |
|
Purchase of Investments |
-181.0 |
-2,379.0 |
-1,874.0 |
-1,051.0 |
-589.0 |
|
Other Investing Cash Flow |
-97.0 |
34.0 |
-16.0 |
-20.0 |
6.0 |
|
Other Investing Cash Flow Items, Total |
194.0 |
-428.0 |
-674.0 |
-496.0 |
-167.0 |
|
Cash from Investing Activities |
-249.0 |
-1,675.0 |
-1,587.0 |
-1,141.0 |
-502.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-40.0 |
2.0 |
19.0 |
5.0 |
4.0 |
|
Financing Cash Flow Items |
-40.0 |
2.0 |
19.0 |
5.0 |
4.0 |
|
Cash Dividends Paid - Common |
-107.0 |
-395.0 |
-293.0 |
-192.0 |
-96.0 |
|
Total Cash Dividends Paid |
-107.0 |
-395.0 |
-293.0 |
-192.0 |
-96.0 |
|
Sale/Issuance of
Common |
- |
1,750.0 |
- |
- |
- |
|
Repurchase/Retirement
of Common |
-240.0 |
-301.0 |
-94.0 |
-86.0 |
-31.0 |
|
Common Stock, Net |
-240.0 |
1,449.0 |
-94.0 |
-86.0 |
-31.0 |
|
Issuance (Retirement) of Stock, Net |
-240.0 |
1,449.0 |
-94.0 |
-86.0 |
-31.0 |
|
Short Term Debt, Net |
-663.0 |
1,381.0 |
5,259.0 |
5,179.0 |
1,324.0 |
|
Long Term Debt Issued |
2.0 |
1,564.0 |
1,563.0 |
35.0 |
22.0 |
|
Long Term Debt Reduction |
-85.0 |
-417.0 |
-306.0 |
-237.0 |
-34.0 |
|
Long Term Debt, Net |
-83.0 |
1,147.0 |
1,257.0 |
-202.0 |
-12.0 |
|
Issuance (Retirement) of Debt, Net |
-746.0 |
2,528.0 |
6,516.0 |
4,977.0 |
1,312.0 |
|
Cash from Financing Activities |
-1,133.0 |
3,584.0 |
6,148.0 |
4,704.0 |
1,189.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
705.0 |
-431.0 |
-188.0 |
-520.0 |
-184.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
615.0 |
1,046.0 |
1,046.0 |
1,046.0 |
1,046.0 |
|
Net Cash - Ending Balance |
1,320.0 |
615.0 |
858.0 |
526.0 |
862.0 |
|
Cash Interest Paid |
- |
418.0 |
- |
- |
- |
|
Cash Taxes Paid |
- |
513.0 |
- |
- |
- |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales and other operating income |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
Total Revenue |
80,676.0 |
61,682.0 |
69,207.0 |
69,816.0 |
44,018.0 |
|
|
|
|
|
|
|
|
Cost of Products Sold |
76,376.0 |
57,839.0 |
65,118.0 |
65,974.0 |
40,781.0 |
|
Selling/General/Administrative Expenses |
1,611.0 |
1,398.0 |
1,412.0 |
1,419.0 |
1,195.0 |
|
Loss on extinguishment of debt |
- |
- |
- |
- |
46.0 |
|
Debt buy back costs |
15.0 |
75.0 |
0.0 |
0.0 |
- |
|
Total Operating Expense |
78,002.0 |
59,312.0 |
66,530.0 |
67,393.0 |
42,022.0 |
|
|
|
|
|
|
|
|
Interest Expense |
-482.0 |
-422.0 |
-469.0 |
-513.0 |
-434.0 |
|
Equity in Affiliates |
542.0 |
561.0 |
145.0 |
415.0 |
294.0 |
|
Investment Income |
136.0 |
126.0 |
181.0 |
269.0 |
257.0 |
|
Gain related to Golden Peanut acquisitio |
71.0 |
0.0 |
0.0 |
17.0 |
649.0 |
|
Net gain on sales of businesses |
0.0 |
0.0 |
24.0 |
- |
- |
|
Unrealized loss on interest costs |
30.0 |
-59.0 |
0.0 |
- |
- |
|
Net loss (gain) on marketable securities |
12.0 |
-6.0 |
-6.0 |
38.0 |
393.0 |
|
Net (gain) loss on sale of unconsolidate |
3.0 |
15.0 |
-11.0 |
- |
- |
|
Other net |
29.0 |
0.0 |
-41.0 |
-55.0 |
-1.0 |
|
Net Income Before Taxes |
3,015.0 |
2,585.0 |
2,500.0 |
2,594.0 |
3,154.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Net Income After Taxes |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
18.0 |
11.0 |
-4.0 |
-6.0 |
- |
|
Net Income Before Extra. Items |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Net Income |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
2,036.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
642.0 |
643.0 |
643.0 |
644.0 |
651.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Basic EPS Including ExtraOrdinary Item |
3.17 |
3.00 |
2.62 |
2.76 |
3.32 |
|
Dilution Adjustment |
13.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
2,049.0 |
1,930.0 |
1,684.0 |
1,780.0 |
2,162.0 |
|
Diluted Weighted Average Shares |
654.0 |
644.0 |
644.0 |
646.0 |
656.0 |
|
Diluted EPS Excluding ExtraOrd Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
Diluted EPS Including ExtraOrd Items |
3.13 |
3.00 |
2.61 |
2.76 |
3.30 |
|
DPS-Common Stock |
0.62 |
0.58 |
0.54 |
0.49 |
0.43 |
|
Gross Dividends - Common Stock |
395.0 |
372.0 |
347.0 |
316.0 |
281.0 |
|
Normalized Income Before Taxes |
2,959.0 |
2,660.0 |
2,476.0 |
2,623.0 |
2,551.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
978.5 |
685.3 |
804.2 |
802.7 |
802.3 |
|
Normalized Income After Taxes |
1,980.5 |
1,974.7 |
1,671.8 |
1,820.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1,998.5 |
1,985.7 |
1,667.8 |
1,814.3 |
1,748.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.11 |
3.09 |
2.59 |
2.82 |
2.69 |
|
Diluted Normalized EPS |
3.08 |
3.08 |
2.59 |
2.81 |
2.67 |
|
Interest Expense |
482.0 |
422.0 |
469.0 |
513.0 |
434.0 |
|
Interest Capitalized |
-7.0 |
-75.0 |
-95.0 |
-52.0 |
-24.0 |
|
Rental Expense |
251.0 |
241.0 |
217.0 |
201.0 |
166.0 |
|
Amortization of Goodwill |
- |
- |
- |
46.0 |
- |
|
Depreciation |
877.0 |
857.0 |
730.0 |
721.0 |
701.0 |
|
Research and Development |
60.0 |
56.0 |
50.0 |
49.0 |
45.0 |
|
Current Tax - Federal |
251.0 |
422.0 |
626.0 |
540.0 |
691.0 |
|
Current Tax - State |
10.0 |
18.0 |
28.0 |
46.0 |
68.0 |
|
Current Tax - Foreign |
222.0 |
195.0 |
139.0 |
363.0 |
124.0 |
|
Current Tax - Total |
483.0 |
635.0 |
793.0 |
949.0 |
883.0 |
|
Deferred Tax - Federal |
483.0 |
107.0 |
-4.0 |
-63.0 |
-24.0 |
|
Deferred Tax - State |
43.0 |
-4.0 |
10.0 |
11.0 |
-16.0 |
|
Deferred Tax - Foreign |
-12.0 |
-72.0 |
13.0 |
-89.0 |
149.0 |
|
Deferred Tax - Total |
514.0 |
31.0 |
19.0 |
-141.0 |
109.0 |
|
Income Tax - Total |
997.0 |
666.0 |
812.0 |
808.0 |
992.0 |
|
Gross Profit |
4,300.0 |
3,843.0 |
4,089.0 |
3,842.0 |
3,237.0 |
|
Service Cost - Pension |
71.0 |
58.0 |
52.0 |
68.0 |
62.0 |
|
Interest Cost - Pension |
120.0 |
119.0 |
111.0 |
109.0 |
94.0 |
|
Expected Return on Assets - Pension |
-132.0 |
-117.0 |
-113.0 |
-121.0 |
-102.0 |
|
Curtailment Losses - Pension |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Amort. of Actuarial Gain/Loss - Pension |
59.0 |
31.0 |
2.0 |
17.0 |
19.0 |
|
Other Amortization - Pension |
5.0 |
6.0 |
6.0 |
5.0 |
6.0 |
|
Domestic Pension Plan Expense |
123.0 |
97.0 |
58.0 |
78.0 |
79.0 |
|
Service Cost - Post-Retirement |
8.0 |
9.0 |
7.0 |
9.0 |
7.0 |
|
Interest Cost - Post-Retirement |
13.0 |
16.0 |
13.0 |
12.0 |
10.0 |
|
Curtailment/Plan settlements - Post Rt. |
0.0 |
0.0 |
-15.0 |
- |
- |
|
Amort. of Actuarial Gain/Loss - Post-Ret |
0.0 |
5.0 |
1.0 |
2.0 |
1.0 |
|
Other Amortization - Post-Retirement |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
-1.0 |
|
Post-Retirement Plan Expense |
20.0 |
29.0 |
5.0 |
22.0 |
17.0 |
|
Defined Contribution Plans - Pension |
43.0 |
40.0 |
35.0 |
31.0 |
29.0 |
|
Total Pension Expense |
186.0 |
166.0 |
98.0 |
131.0 |
125.0 |
|
Discount Rate - Pension |
5.20% |
6.10% |
6.50% |
5.60% |
5.60% |
|
Expected Rate of Return - Pension |
7.10% |
7.10% |
7.20% |
7.60% |
7.20% |
|
Compensation Rate - Pension |
3.90% |
3.80% |
3.90% |
4.10% |
4.10% |
|
Discount Rate - Post-Retirement |
5.40% |
6.30% |
6.80% |
6.00% |
6.00% |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net sales and other operating income |
22,870.0 |
20,077.0 |
20,930.0 |
16,799.0 |
15,703.0 |
|
Total Revenue |
22,870.0 |
20,077.0 |
20,930.0 |
16,799.0 |
15,703.0 |
|
|
|
|
|
|
|
|
Cost of products sold |
21,772.0 |
18,917.0 |
19,696.0 |
15,991.0 |
14,777.0 |
|
Selling general and administrative expe |
423.0 |
395.0 |
412.0 |
381.0 |
331.0 |
|
Debt buyback costs |
15.0 |
0.0 |
- |
- |
0.0 |
|
Total Operating Expense |
22,210.0 |
19,312.0 |
20,108.0 |
16,372.0 |
15,108.0 |
|
|
|
|
|
|
|
|
Interest expense |
-129.0 |
-121.0 |
-115.0 |
-117.0 |
-118.0 |
|
Investment income |
39.0 |
32.0 |
41.0 |
24.0 |
26.0 |
|
Gain related to Golden Peanut acquis |
0.0 |
0.0 |
71.0 |
- |
- |
|
Net loss (gain) on marketable securities |
- |
- |
- |
2.0 |
-13.0 |
|
Gain on sales and exchanges |
- |
- |
- |
- |
15.0 |
|
Equity in earnings of uncons.
Affiliate |
208.0 |
71.0 |
138.0 |
125.0 |
133.0 |
|
Unrealized gains on interest rate swaps |
0.0 |
6.0 |
55.0 |
-31.0 |
-59.0 |
|
Other (income) expense net |
-14.0 |
38.0 |
-14.0 |
32.0 |
-29.0 |
|
Net Income Before Taxes |
764.0 |
791.0 |
998.0 |
462.0 |
550.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
385.0 |
223.0 |
269.0 |
120.0 |
105.0 |
|
Net Income After Taxes |
379.0 |
568.0 |
729.0 |
342.0 |
445.0 |
|
|
|
|
|
|
|
|
Less: Net earnings (losses) attributable |
2.0 |
10.0 |
3.0 |
3.0 |
1.0 |
|
Net Income Before Extra. Items |
381.0 |
578.0 |
732.0 |
345.0 |
446.0 |
|
Net Income |
381.0 |
578.0 |
732.0 |
345.0 |
446.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
381.0 |
578.0 |
732.0 |
345.0 |
446.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
381.0 |
578.0 |
732.0 |
345.0 |
446.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
651.0 |
638.0 |
639.0 |
640.0 |
643.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.59 |
0.91 |
1.15 |
0.54 |
0.69 |
|
Basic EPS Including ExtraOrdinary Item |
0.59 |
0.91 |
1.15 |
0.54 |
0.69 |
|
Dilution Adjustment |
0.0 |
13.0 |
- |
- |
0.0 |
|
Diluted Net Income |
381.0 |
591.0 |
732.0 |
345.0 |
446.0 |
|
Diluted Weighted Average Shares |
652.0 |
684.0 |
641.0 |
641.0 |
643.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.58 |
0.86 |
1.14 |
0.54 |
0.69 |
|
Diluted EPS Including ExtraOrd Items |
0.58 |
0.86 |
1.14 |
0.54 |
0.69 |
|
DPS-Common Stock |
0.16 |
0.16 |
0.15 |
0.15 |
0.15 |
|
Gross Dividends - Common Stock |
102.0 |
101.0 |
96.0 |
96.0 |
96.0 |
|
Normalized Income Before Taxes |
779.0 |
791.0 |
927.0 |
462.0 |
535.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
392.6 |
223.0 |
249.9 |
120.0 |
102.1 |
|
Normalized Income After Taxes |
386.4 |
568.0 |
677.1 |
342.0 |
432.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
388.4 |
578.0 |
680.1 |
345.0 |
433.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.60 |
0.91 |
1.06 |
0.54 |
0.67 |
|
Diluted Normalized EPS |
0.60 |
0.86 |
1.06 |
0.54 |
0.67 |
|
Interest Expense |
129.0 |
121.0 |
115.0 |
117.0 |
118.0 |
|
Depreciation |
212.0 |
202.0 |
211.0 |
252.0 |
239.0 |
|
Gross profit |
- |
1,160.0 |
1,234.0 |
808.0 |
- |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Segregated cash and investments |
3,396.0 |
2,337.0 |
2,430.0 |
2,035.0 |
1,424.0 |
|
Short-term marketable securities |
739.0 |
394.0 |
500.0 |
455.0 |
212.0 |
|
Receivables |
9,916.0 |
6,219.0 |
7,414.0 |
11,572.0 |
6,473.0 |
|
Allowance for doubtful accounts |
-100.0 |
-97.0 |
-103.0 |
-89.0 |
-69.0 |
|
Inventories |
- |
- |
- |
- |
6,060.0 |
|
LIFO inventories |
550.0 |
421.0 |
478.0 |
431.0 |
- |
|
FIFO inventories |
5,590.0 |
3,218.0 |
2,735.0 |
2,343.0 |
- |
|
Market inventories |
5,915.0 |
4,232.0 |
4,569.0 |
7,386.0 |
- |
|
Other Assets |
883.0 |
624.0 |
330.0 |
512.0 |
359.0 |
|
Total Current Assets |
27,504.0 |
18,394.0 |
19,408.0 |
25,455.0 |
15,122.0 |
|
|
|
|
|
|
|
|
Investments in and Advances to Affiliate |
3,240.0 |
2,799.0 |
2,459.0 |
2,773.0 |
2,498.0 |
|
Long Term Marketable Securities |
666.0 |
678.0 |
626.0 |
590.0 |
657.0 |
|
Goodwill Net |
602.0 |
523.0 |
532.0 |
506.0 |
317.0 |
|
Other assets |
681.0 |
702.0 |
607.0 |
607.0 |
514.0 |
|
Land |
305.0 |
277.0 |
240.0 |
238.0 |
227.0 |
|
Buildings |
4,413.0 |
4,008.0 |
3,304.0 |
3,207.0 |
3,002.0 |
|
Machinery and Equipment |
16,245.0 |
15,107.0 |
13,052.0 |
12,410.0 |
11,822.0 |
|
Construction in Progress |
765.0 |
612.0 |
2,245.0 |
1,924.0 |
884.0 |
|
Accumulated Depreciation |
-12,228.0 |
-11,292.0 |
-10,891.0 |
-10,654.0 |
-9,925.0 |
|
Total Assets |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
Short Term Debt |
1,875.0 |
374.0 |
356.0 |
3,123.0 |
468.0 |
|
Accounts Payable |
7,550.0 |
5,538.0 |
5,786.0 |
6,544.0 |
4,919.0 |
|
Accrued Expenses |
3,615.0 |
2,577.0 |
2,695.0 |
4,722.0 |
2,416.0 |
|
Current maturities of long-term debt |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Total Current Liabilities |
13,218.0 |
8,833.0 |
8,885.0 |
14,621.0 |
7,868.0 |
|
|
|
|
|
|
|
|
Long-term debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
Total Long Term Debt |
8,266.0 |
6,830.0 |
7,592.0 |
7,690.0 |
4,752.0 |
|
|
|
|
|
|
|
|
Deferred Taxes |
859.0 |
439.0 |
308.0 |
473.0 |
532.0 |
|
Other |
1,012.0 |
1,075.0 |
1,144.0 |
782.0 |
713.0 |
|
Noncontrolling
interests |
30.0 |
22.0 |
26.0 |
- |
- |
|
Total Liabilities |
23,385.0 |
17,199.0 |
17,955.0 |
23,566.0 |
13,865.0 |
|
|
|
|
|
|
|
|
Common Stock |
6,636.0 |
5,151.0 |
5,204.0 |
5,039.0 |
5,090.0 |
|
Retained Erngs. |
11,996.0 |
10,357.0 |
8,778.0 |
7,494.0 |
5,982.0 |
|
Accumulated other comprehensive income ( |
176.0 |
-899.0 |
-355.0 |
957.0 |
181.0 |
|
Total Equity |
18,808.0 |
14,609.0 |
13,627.0 |
13,490.0 |
11,253.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
42,193.0 |
31,808.0 |
31,582.0 |
37,056.0 |
25,118.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Total Common Shares Outstanding |
676.0 |
639.0 |
642.0 |
644.0 |
643.6 |
|
Full-Time Employees |
30,700 |
29,300 |
28,200 |
27,600 |
27,300 |
|
Number of Common Shareholders |
12,740 |
15,384 |
16,877 |
17,330 |
18,252 |
|
Long Term Debt Maturing within 1 Year |
178.0 |
344.0 |
48.0 |
232.0 |
65.0 |
|
Long Term Debt Maturing within 2 Years |
1,800.0 |
156.0 |
328.0 |
43.0 |
- |
|
Long Term Debt Maturing within 3 Years |
1,100.0 |
272.0 |
151.0 |
283.0 |
92.0 |
|
Long Term Debt Maturing within 4 Years |
28.0 |
1,050.0 |
268.0 |
118.0 |
- |
|
Long Term Debt Maturing within 5 Years |
17.0 |
25.0 |
1,215.0 |
261.0 |
425.0 |
|
Long Term Debt - Remaining Maturity |
5,457.0 |
5,327.0 |
5,891.0 |
7,023.0 |
4,315.0 |
|
Total Long Term Debt, Supplemental |
8,580.0 |
7,174.0 |
7,901.0 |
7,960.0 |
4,897.0 |
|
Operating Lease Maturing within 1 Year |
233.0 |
235.0 |
224.0 |
403.0 |
318.0 |
|
Operating Lease Maturing within 2 Years |
183.0 |
189.0 |
205.0 |
217.0 |
144.0 |
|
Operating Lease Maturing within 3 Years |
151.0 |
182.0 |
235.0 |
185.0 |
97.0 |
|
Operating Lease Maturing within 4 Years |
121.0 |
156.0 |
198.0 |
129.0 |
79.0 |
|
Operating Lease Maturing within 5 Years |
104.0 |
177.0 |
139.0 |
110.0 |
53.0 |
|
Operating Lease Reamining Maturity |
371.0 |
442.0 |
273.0 |
320.0 |
209.0 |
|
Total Operating Leases |
1,163.0 |
1,381.0 |
1,274.0 |
1,364.0 |
900.0 |
|
Projected Benefit Obligation - Pension |
2,470.0 |
2,299.0 |
2,012.0 |
1,851.0 |
1,916.0 |
|
FV of Plan Assets - Pension |
2,134.0 |
1,721.0 |
1,427.0 |
1,662.0 |
1,611.0 |
|
Funded Status - Pension |
-336.0 |
-578.0 |
-585.0 |
-189.0 |
-305.0 |
|
Accumulated Benefit Obligation - Pension |
2,300.0 |
2,100.0 |
1,800.0 |
1,700.0 |
1,700.0 |
|
Projected Benefit Obligation - Post-Ret. |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Funded Status - Post-Retirement |
-229.0 |
-224.0 |
-256.0 |
-206.0 |
-208.0 |
|
Accumulated Benefit Obligation - Post-Re |
229.0 |
224.0 |
256.0 |
206.0 |
208.0 |
|
Total Funded Status |
-565.0 |
-802.0 |
-841.0 |
-395.0 |
-513.0 |
|
Discount Rate - Pension |
5.50% |
5.20% |
6.10% |
6.50% |
5.60% |
|
Expected Rate of Return - Pension |
- |
- |
- |
- |
7.20% |
|
Compensation Rate - Pension |
3.90% |
3.90% |
3.80% |
3.90% |
4.10% |
|
Discount Rate - Post-Retirement |
5.50% |
5.40% |
6.80% |
6.80% |
6.00% |
|
Prepaid Benefit Cost - Pension |
51.0 |
17.0 |
17.0 |
68.0 |
22.0 |
|
Curr. Accrd. Benefit
Liability - Pension |
-16.0 |
-13.0 |
-13.0 |
-11.0 |
-9.0 |
|
L.T. Accrued Benefit Liability - Pension |
-371.0 |
-582.0 |
-589.0 |
-239.0 |
-313.0 |
|
Intangible Assets - Pension |
- |
- |
- |
- |
0.0 |
|
Other Comprehensive Inc./Loss - Pension |
- |
- |
- |
- |
0.0 |
|
Accrued Benefit Liability - Current - PR |
-8.0 |
-7.0 |
-8.0 |
-8.0 |
-7.0 |
|
L.T Accrd. Benefit Liability - Post-Ret. |
-221.0 |
-217.0 |
-248.0 |
-198.0 |
-201.0 |
|
AOCI - Pension |
- |
- |
- |
- |
295.0 |
|
AOCI - Post Retirement |
- |
- |
- |
- |
38.0 |
|
Net Assets Recognized on Balance Sheet |
-565.0 |
-802.0 |
-841.0 |
-388.0 |
-175.0 |
|
Equity Securities % - Pension |
52.00% |
48.00% |
48.00% |
51.00% |
54.00% |
|
Debt Securities % - Pension |
47.00% |
50.00% |
46.00% |
41.00% |
40.00% |
|
Other Investments % - Pension |
1.00% |
2.00% |
6.00% |
8.00% |
6.00% |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
615.0 |
858.0 |
526.0 |
862.0 |
1,046.0 |
|
Short-term marketable securities |
739.0 |
765.0 |
633.0 |
508.0 |
394.0 |
|
Segregated cash and investments |
3,396.0 |
3,051.0 |
3,224.0 |
2,932.0 |
2,337.0 |
|
Receivables |
9,816.0 |
10,428.0 |
10,625.0 |
8,174.0 |
6,122.0 |
|
Inventories |
12,055.0 |
13,409.0 |
12,654.0 |
9,024.0 |
7,871.0 |
|
Other assets |
883.0 |
741.0 |
695.0 |
586.0 |
624.0 |
|
Total Current Assets |
27,504.0 |
29,252.0 |
28,357.0 |
22,086.0 |
18,394.0 |
|
|
|
|
|
|
|
|
Invest. in Affiliate |
3,240.0 |
3,062.0 |
2,975.0 |
2,961.0 |
2,799.0 |
|
Long term marketable securities |
666.0 |
847.0 |
823.0 |
816.0 |
678.0 |
|
Goodwill |
602.0 |
594.0 |
587.0 |
531.0 |
523.0 |
|
Other assets |
681.0 |
693.0 |
674.0 |
734.0 |
702.0 |
|
Land |
305.0 |
302.0 |
298.0 |
289.0 |
277.0 |
|
Buildings |
4,413.0 |
4,371.0 |
4,364.0 |
4,124.0 |
4,008.0 |
|
Machinery/Equipment |
16,245.0 |
16,046.0 |
15,838.0 |
15,484.0 |
15,107.0 |
|
Construction |
765.0 |
630.0 |
662.0 |
648.0 |
612.0 |
|
Depreciation |
-12,228.0 |
-12,034.0 |
-11,968.0 |
-11,637.0 |
-11,292.0 |
|
Total Assets |
42,193.0 |
43,763.0 |
42,610.0 |
36,036.0 |
31,808.0 |
|
|
|
|
|
|
|
|
Short term debt |
1,875.0 |
5,732.0 |
5,632.0 |
1,721.0 |
374.0 |
|
Accounts Payable |
7,550.0 |
7,703.0 |
8,141.0 |
7,025.0 |
5,538.0 |
|
Accrued Expense/Tax |
3,615.0 |
3,252.0 |
4,085.0 |
3,141.0 |
2,577.0 |
|
Cur. Mat. LT Debt |
178.0 |
176.0 |
205.0 |
348.0 |
344.0 |
|
Total Current Liabilities |
13,218.0 |
16,863.0 |
18,063.0 |
12,235.0 |
8,833.0 |
|
|
|
|
|
|
|
|
Long-term debt |
8,266.0 |
8,350.0 |
6,848.0 |
6,834.0 |
6,830.0 |
|
Total Long Term Debt |
8,266.0 |
8,350.0 |
6,848.0 |
6,834.0 |
6,830.0 |
|
|
|
|
|
|
|
|
Deferred liabilities |
859.0 |
517.0 |
546.0 |
395.0 |
439.0 |
|
Other |
1,012.0 |
1,353.0 |
1,249.0 |
1,185.0 |
1,075.0 |
|
Noncontrolling
interests |
30.0 |
28.0 |
18.0 |
19.0 |
22.0 |
|
Total Liabilities |
23,385.0 |
27,111.0 |
26,724.0 |
20,668.0 |
17,199.0 |
|
|
|
|
|
|
|
|
Common Stock |
6,636.0 |
5,086.0 |
5,095.0 |
5,138.0 |
5,151.0 |
|
Retained Earnings |
11,996.0 |
11,718.0 |
11,242.0 |
10,605.0 |
10,357.0 |
|
Accumulated other comprehensive income ( |
176.0 |
-152.0 |
-451.0 |
-375.0 |
-899.0 |
|
Total Equity |
18,808.0 |
16,652.0 |
15,886.0 |
15,368.0 |
14,609.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
42,193.0 |
43,763.0 |
42,610.0 |
36,036.0 |
31,808.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
676.0 |
638.0 |
637.0 |
639.0 |
639.0 |
|
Total Common Shares Outstanding |
676.0 |
638.0 |
637.0 |
639.0 |
639.0 |
|
Current maturities of long-term debt |
178.0 |
176.0 |
205.0 |
348.0 |
344.0 |
|
Total Long Term Debt, Supplemental |
178.0 |
176.0 |
205.0 |
348.0 |
344.0 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
2,018.0 |
1,919.0 |
1,688.0 |
1,786.0 |
2,162.0 |
|
Depreciation |
877.0 |
912.0 |
780.0 |
767.0 |
701.0 |
|
Asset abandonments
and impairments |
- |
9.0 |
13.0 |
32.0 |
21.0 |
|
Gain on Golden Peanut revaluation |
-71.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Taxes |
521.0 |
30.0 |
20.0 |
-142.0 |
109.0 |
|
(Gain) loss on sales of marketable secur |
- |
6.0 |
4.0 |
-38.0 |
-393.0 |
|
(Gain) loss on sale or exchange of uncon |
- |
-15.0 |
11.0 |
-8.0 |
-440.0 |
|
Stock compensation expense |
47.0 |
45.0 |
65.0 |
70.0 |
- |
|
Gain on Sale of Businesses |
- |
0.0 |
-24.0 |
-8.0 |
-209.0 |
|
Equity in (earnings) losses of affiliate |
-397.0 |
-326.0 |
54.0 |
-283.0 |
-193.0 |
|
Employ. Benefit |
- |
0.0 |
18.0 |
29.0 |
27.0 |
|
Pension and Postretirement Accruals |
4.0 |
- |
- |
- |
61.0 |
|
Other Net |
-121.0 |
84.0 |
26.0 |
164.0 |
- |
|
Deferred cash flow hedges |
-1.0 |
49.0 |
-235.0 |
161.0 |
- |
|
Charges on early extinguishment of debt |
15.0 |
75.0 |
0.0 |
0.0 |
- |
|
Other net |
- |
-110.0 |
-161.0 |
36.0 |
99.0 |
|
Segregated Cash/Inv. |
-1,035.0 |
74.0 |
-426.0 |
-614.0 |
-191.0 |
|
Receivables |
-2,882.0 |
740.0 |
3,680.0 |
-4,781.0 |
-953.0 |
|
Inventories |
-3,412.0 |
-144.0 |
1,899.0 |
-3,736.0 |
-1,215.0 |
|
Other Asset |
-257.0 |
-211.0 |
152.0 |
-174.0 |
-66.0 |
|
Payable/Accrued |
2,354.0 |
-453.0 |
-2,223.0 |
3,535.0 |
783.0 |
|
Cash from Operating Activities |
-2,340.0 |
2,684.0 |
5,341.0 |
-3,204.0 |
303.0 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-1,247.0 |
-1,607.0 |
-1,898.0 |
-1,779.0 |
-1,198.0 |
|
Proceeds from sales of property, plant, |
72.0 |
35.0 |
65.0 |
52.0 |
45.0 |
|
Proceeds from sale of businesses |
0.0 |
0.0 |
258.0 |
11.0 |
385.0 |
|
Business Acquis. |
-218.0 |
-62.0 |
-198.0 |
-13.0 |
-103.0 |
|
Investment in Affil. |
-31.0 |
-146.0 |
-15.0 |
-32.0 |
-53.0 |
|
Distributions from affiliates, excluding |
- |
57.0 |
11.0 |
54.0 |
97.0 |
|
Marketable Secs. |
-2,379.0 |
-1,387.0 |
-2,402.0 |
-1,405.0 |
-892.0 |
|
Sale Market. Secs. |
2,094.0 |
1,454.0 |
2,312.0 |
1,222.0 |
1,367.0 |
|
Other net |
34.0 |
-9.0 |
-4.0 |
-5.0 |
-3.0 |
|
Cash from Investing Activities |
-1,675.0 |
-1,665.0 |
-1,871.0 |
-1,895.0 |
-355.0 |
|
|
|
|
|
|
|
|
LT Borrowings |
1,564.0 |
27.0 |
125.0 |
3,095.0 |
1,166.0 |
|
Long Term Debt Payments |
-417.0 |
-552.0 |
-24.0 |
-69.0 |
-549.0 |
|
Debt repayment premium & costs |
-21.0 |
-71.0 |
0.0 |
0.0 |
- |
|
Line of Credit |
1,381.0 |
29.0 |
-2,890.0 |
2,574.0 |
-110.0 |
|
Purchase of Call Options |
- |
- |
- |
- |
-299.0 |
|
Sale of stock warrants related to conver |
- |
- |
- |
- |
170.0 |
|
Treasury Stock |
-301.0 |
-100.0 |
-100.0 |
-61.0 |
-533.0 |
|
Dividends Paid |
-395.0 |
-372.0 |
-347.0 |
-316.0 |
-281.0 |
|
Other net |
23.0 |
11.0 |
11.0 |
23.0 |
38.0 |
|
Shares issued related to equity unit con |
1,750.0 |
0.0 |
0.0 |
- |
- |
|
Cash from Financing Activities |
3,584.0 |
-1,028.0 |
-3,225.0 |
5,246.0 |
-398.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-431.0 |
-9.0 |
245.0 |
147.0 |
-450.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
1,113.0 |
|
Net Cash - Ending Balance |
615.0 |
1,046.0 |
1,055.0 |
810.0 |
663.0 |
|
Cash Interest Paid |
418.0 |
453.0 |
522.0 |
485.0 |
425.0 |
|
Cash Taxes Paid |
513.0 |
604.0 |
1,011.0 |
859.0 |
794.0 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Income |
2,018.0 |
1,639.0 |
1,071.0 |
342.0 |
1,919.0 |
|
Depreciation |
877.0 |
665.0 |
463.0 |
252.0 |
912.0 |
|
Asset abandonments
and impairments |
- |
- |
- |
- |
9.0 |
|
Charges on early extinguishment of debt |
15.0 |
0.0 |
- |
- |
75.0 |
|
Deferred Taxes |
521.0 |
185.0 |
126.0 |
-73.0 |
30.0 |
|
Gain on Sale of Businesses |
- |
- |
- |
- |
0.0 |
|
Gain on Golden Peanut revaluation |
-71.0 |
-71.0 |
-71.0 |
- |
0.0 |
|
(Gain) loss on sale or exchange of uncon |
- |
- |
- |
- |
-15.0 |
|
(Gain) loss on sales of marketable secur |
- |
- |
- |
- |
6.0 |
|
Equity in (earnings) losses of affiliate |
-397.0 |
-222.0 |
-181.0 |
-86.0 |
-326.0 |
|
Stock compensation expense |
47.0 |
41.0 |
36.0 |
25.0 |
45.0 |
|
Employee Benefit |
- |
- |
- |
- |
0.0 |
|
Deferred cash flow hedges |
-1.0 |
-13.0 |
21.0 |
41.0 |
49.0 |
|
Pension and postretirement accruals, net |
4.0 |
69.0 |
47.0 |
25.0 |
-110.0 |
|
Other - net |
-121.0 |
-72.0 |
-2.0 |
-16.0 |
84.0 |
|
Segregated Cash/Inv. |
-1,035.0 |
-691.0 |
-875.0 |
-582.0 |
74.0 |
|
Receivables |
-2,882.0 |
-3,590.0 |
-4,025.0 |
-1,685.0 |
740.0 |
|
Inventories |
-3,412.0 |
-5,121.0 |
-4,620.0 |
-1,157.0 |
-144.0 |
|
Other Asset |
-257.0 |
-200.0 |
-124.0 |
52.0 |
-211.0 |
|
Payable/Accrued |
2,354.0 |
2,632.0 |
4,051.0 |
1,991.0 |
-453.0 |
|
Cash from Operating Activities |
-2,340.0 |
-4,749.0 |
-4,083.0 |
-871.0 |
2,684.0 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-1,247.0 |
-913.0 |
-645.0 |
-335.0 |
-1,607.0 |
|
Proceeds from sale of businesses |
0.0 |
- |
- |
- |
0.0 |
|
Proc. Sale PP&E |
72.0 |
52.0 |
45.0 |
41.0 |
35.0 |
|
Business acquisitions |
-218.0 |
-206.0 |
-163.0 |
- |
-62.0 |
|
Investment Affiliate |
-31.0 |
- |
- |
- |
-146.0 |
|
Distributions from affiliates, excluding |
- |
- |
- |
- |
57.0 |
|
Purchases of marketable securities |
-2,379.0 |
-1,874.0 |
-1,051.0 |
-589.0 |
-1,387.0 |
|
Sale Marketable Secs |
2,094.0 |
1,370.0 |
693.0 |
375.0 |
1,454.0 |
|
Other investing activities |
34.0 |
-16.0 |
-20.0 |
6.0 |
-9.0 |
|
Cash from Investing Activities |
-1,675.0 |
-1,587.0 |
-1,141.0 |
-502.0 |
-1,665.0 |
|
|
|
|
|
|
|
|
Long Term Debt Borrowings |
1,564.0 |
1,563.0 |
35.0 |
22.0 |
27.0 |
|
Long term debt payments |
-417.0 |
-306.0 |
-237.0 |
-34.0 |
-552.0 |
|
Debt repayment premium and costs |
-21.0 |
0.0 |
- |
- |
-71.0 |
|
Net borrowings (repayments) under lines |
1,381.0 |
5,259.0 |
5,179.0 |
1,324.0 |
29.0 |
|
Shares issued related to equity unit con |
1,750.0 |
- |
- |
- |
0.0 |
|
Purchases of treasury stock |
-301.0 |
-94.0 |
-86.0 |
-31.0 |
-100.0 |
|
Dividends Paid |
-395.0 |
-293.0 |
-192.0 |
-96.0 |
-372.0 |
|
Other net |
23.0 |
19.0 |
5.0 |
4.0 |
11.0 |
|
Cash from Financing Activities |
3,584.0 |
6,148.0 |
4,704.0 |
1,189.0 |
-1,028.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-431.0 |
-188.0 |
-520.0 |
-184.0 |
-9.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,046.0 |
1,046.0 |
1,046.0 |
1,046.0 |
1,055.0 |
|
Net Cash - Ending Balance |
615.0 |
858.0 |
526.0 |
862.0 |
1,046.0 |
|
Cash Interest Paid |
418.0 |
- |
- |
- |
453.0 |
|
Cash Taxes Paid |
513.0 |
- |
- |
- |
604.0 |
Geographic Segments
Financials in: As Reported (mil)
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Business Segments
Financials in: As Reported (mil)
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Business Segments
Financials in: As Reported (mil)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.50 |
|
UK Pound |
1 |
Rs.77.73 |
|
Euro |
1 |
Rs.65.18 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SCs credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial condition
(40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.