Archer Daniels Midland 2006 Annual Report Download - page 46

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44 Archer Daniels Midland Company
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Note 1-Acquisitions
The 2006, 2005, and 2004 acquisitions were accounted for as
purchases in accordance with SFAS Number 141, Business
Combinations. Accordingly, the tangible assets and liabilities have
been adjusted to fair values with the remainder of the purchase
price, if any, recorded as goodwill. The identifiable intangible assets
acquired as part of these acquisitions are not material.
2006 Acquisitions
During 2006, the Company acquired twelve businesses for a total
cost of $182 million. The Company has recorded a preliminary
allocation of the purchase price related to these acquisitions. This
Note 2-Marketable Securities and Cash Equivalents
Unrealized Unrealized
Cost Gains Losses Fair Value
2006 (In thousands)
United States government obligations
Maturity less than 1 year ..................................................................... $ 359,384 $ 322 $ (175) $ 359,531
Maturity 1 to 5 years ......................................................................... 50,163 — (1,222) 48,941
Other debt securities
Maturity less than 1 year ..................................................................... 609,242 662 (367) 609,537
Maturity 1 to 5 years ......................................................................... 181,975 50 (2,664) 179,361
Maturity 5 to 10 years ........................................................................ 59,195 — (1,520) 57,675
Maturity greater than 10 years ............................................................... 193,650 1 (9,055) 184,596
Equity securities
Available-for-sale ............................................................................ 318,008 320,669 (18,958) 619,719
Trading ...................................................................................... 19,885 — — 19,885
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,791,502 $321,704 $(33,961) $2,079,245
Unrealized Unrealized
Cost Gains Losses Fair Value
2005 (In thousands)
United States government obligations
Maturity less than 1 year .......................................................................... $ 203,157 $ 226 $ (229) $ 203,154
Maturity 5 to 10 years ............................................................................ 49,355 — (66) 49,289
Other debt securities
Maturity less than 1 year .......................................................................... 168,568 — (212) 168,356
Maturity 1 to 5 years ............................................................................. 41,000 — (209) 40,791
Maturity 5 to 10 years ............................................................................ 75,000 — (526) 74,474
Maturity greater than 10 years ..................................................................... 225,331 — (3,885) 221,446
Equity securities
Available-for-sale ................................................................................ 304,430 344,700 (1,769) 647,361
Trading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,591 — — 16,591
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,083,432 $ 344,926 $ (6,896) $ 1,421,462
purchase price allocation resulted in goodwill of $3 million, of which
$2 million and $1 million were assigned to the Agricultural Services
and Other segments, respectively. In addition, the portion of the
purchase price allocated to current assets, property, plant, and
equipment, other long-term assets, and current liabilities, was
$64 million, $79 million, $59 million, and $25 million, respectively.
2005 Acquisitions
During 2005, the Company acquired five businesses for a total
cost of $24 million. The Company recorded no goodwill related to
these acquisitions.
2004 Acquisitions
During 2004, the Company acquired five businesses for a total
cost of $94 million. The Company recorded no goodwill related to
these acquisitions.