ARCHER DANIELS MIDLAND CO | 2013 | FY | 3


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.

us-gaap:QuarterlyFinancialInformationTextBlock