Quarterly Financial Data (Unaudited)
|
| | | | | | | | | | | | | | | | | | | |
| Quarter | | |
| March 31 | | June 30 | | September 30 | | December 31 | | Year |
| (In millions, except per share amounts) |
Fiscal Year Ended December 31, 2013 | | | | | | | | | |
Revenues | $ | 21,727 |
| | $ | 22,541 |
| | $ | 21,393 |
| | $ | 24,143 |
| | $ | 89,804 |
|
Gross Profit | 756 |
| | 807 |
| | 1,156 |
| | 1,170 |
| | 3,889 |
|
Net Earnings Attributable to Controlling Interests | 269 |
| | 223 |
| | 476 |
| | 374 |
| | 1,342 |
|
Basic Earnings Per Common Share | 0.41 |
| | 0.34 |
| | 0.72 |
| | 0.57 |
| | 2.03 |
|
Diluted Earnings Per Common Share | 0.41 |
| | 0.34 |
| | 0.72 |
| | 0.56 |
| | 2.02 |
|
|
| | | | | | | | | | | |
| Quarter | | Six Months |
| September 30 | | December 31 | | Ended |
| (In millions, except per share amounts) |
Transition Period Ended December 31, 2012 | | | | | |
Revenues | $ | 21,808 |
| | $ | 24,921 |
| | $ | 46,729 |
|
Gross Profit | 806 |
| | 996 |
| | 1,802 |
|
Net Earnings Attributable to Controlling Interests | 182 |
| | 510 |
| | 692 |
|
Basic Earnings Per Common Share | 0.28 |
| | 0.77 |
| | 1.05 |
|
Diluted Earnings Per Common Share | 0.28 |
| | 0.77 |
| | 1.05 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Quarter | | |
| September 30 | | December 31 | | March 31 | | June 30 | | Year |
| (In millions, except per share amounts) |
Fiscal Year Ended June 30, 2012 | | | | | | | | | |
Revenues | $ | 21,902 |
| | $ | 23,306 |
| | $ | 21,155 |
| | $ | 22,675 |
| | $ | 89,038 |
|
Gross Profit | 1,034 |
| | 813 |
| | 1,008 |
| | 813 |
| | 3,668 |
|
Net Earnings Attributable to Controlling Interests | 460 |
| | 80 |
| | 399 |
| | 284 |
| | 1,223 |
|
Basic Earnings Per Common Share | 0.68 |
| | 0.12 |
| | 0.60 |
| | 0.43 |
| | 1.84 |
|
Diluted Earnings Per Common Share | 0.68 |
| | 0.12 |
| | 0.60 |
| | 0.43 |
| | 1.84 |
|
Net earnings attributable to controlling interests for the first quarter of the fiscal year ended December 31, 2013 include an after-tax FCPA charge of $17 million (equal to $0.03 per share) as discussed in Note 21. Net earnings attributable to controlling interests for the second quarter of the fiscal year ended December 31, 2013 include an after-tax FCPA charge of $20 million (equal to $0.03 per share) as discussed in Note 21 and an after-tax loss on Australian dollar foreign exchange hedges of $32 million (equal to $0.05 per share) as discussed in Note 13. Net earnings attributable to controlling interests for the third quarter of the fiscal year ended December 31, 2013 include an after-tax gain on Australian dollar foreign exchange hedges of $16 million (equal to $0.02 per share) as discussed in Note 13, after-tax asset impairment charges related to certain fixed assets of $8 million (equal to $0.01 per share) as discussed in Note 19, and an after-tax other-than-temporary writedown of an investment of $7 million (equal to $0.01 per share) as discussed in Note 19. Net earnings attributable to controlling interests for the fourth quarter of the fiscal year ended December 31, 2013 include an after-tax loss on Australian dollar foreign exchange hedges of $9 million (equal to $0.01 per share) as discussed in Note 13, after-tax asset impairment charges related to certain fixed assets of $61 million (equal to $0.09 per share), as discussed in Note 19, an after-tax goodwill impairment charge of $9 million (equal to $0.02 per share) as discussed in Note 19, an after-tax other-than-temporary writedown of GrainCorp of $155 million (equal to $0.23 per share) as discussed in Note 19, other after-tax GrainCorp-related charges of $3 million (equal to $0.01 per share), valuation allowance on certain deferred tax assets of $82 million (equal to $0.12 per share), income tax benefit recognized in the current period of $84 million (equal to $0.13 per share) related to biodiesel blending credits in prior periods, effective tax rate adjustment of $21 million (equal to $0.03 per share) due to the change in annual effective tax rate on prior year-to-date earnings, and other after-tax charges of $3 million (equal to $0.01 per share).
Net earnings attributable to controlling interests for the first quarter of the transition period ended December 31, 2012 include an after-tax asset impairment charge related to the Gruma investment writedown of $107 million (equal to $0.16 per share) as discussed in Note 19. Net earnings attributable to controlling interests for the second quarter of the transition period ended December 31, 2012 include an after-tax gain of $49 million (equal to $0.07 per share) related to the Company’s interest in GrainCorp, an after-tax gain of $24 million (equal to $0.04 per share) related to the sale of certain of the Company’s exchange membership interests, and an after-tax charge of $44 million (equal to $0.07 per share) related to pension settlements.
Net earnings attributable to controlling interests for the second and third quarters of the fiscal year ended June 30, 2012 include after-tax exit costs and asset impairment charges related primarily to the bioplastics facility and global workforce reduction program of $222 million and $52 million (equal to $0.33 and $0.08 per share), respectively as discussed in Note 19.
