Archer Daniels Midland 2006 Annual Report Download - page 41

Download and view the complete annual report

Please find page 41 of the 2006 Archer Daniels Midland annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

2006 Annual Report 39
CONSOLIDATED STATEMENTS OF EARNINGS
Year Ended June 30,
2006 2005 2004
(In thousands, except per share amounts)
Net sales and other operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $36,596,111 $35,943,810 $36,151,394
Cost of products sold ........................................... 33,630,297 33,512,471 34,003,070
Gross Profit ............................................. 2,965,814 2,431,339 2,148,324
Selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . 1,192,683 1,080,811 1,401,833
Other expense (income) – net ................................... (82,119) (165,847) 28,480
Earnings Before Income Taxes ........................... 1,855,250 1,516,375 718,011
Income taxes ................................................. 543,180 471,990 223,301
Net Earnings ............................................ $ 1,312,070 $ 1,044,385 $ 494,710
Basic earnings per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.01 $ 1.60 $ .76
Diluted earnings per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.00 $ 1.59 $ .76
Average number of shares outstanding – basic . . . . . . . . . . . . . . . . . . . . . . 653,588 654,242 647,698
Average number of shares outstanding – diluted . . . . . . . . . . . . . . . . . . . . 656,287 656,123 649,810
See notes to consolidated financial statements.