Archer Daniels Midland 2007 Annual Report Download

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G R O W I N G O P P O R T U N I T Y
ARCHER DANIELS MIDLAND COMPANY 2007 ANNUAL REPORT
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Table of contents

  • Page 1
    ARCHER DANIELS MIDLAND COMPANY 2007 ANNUAL REPORT ® GROWING OPPORTUNITY

  • Page 2
    ... these products to customers, primarily large food and energy companies and industrial firms, throughout the world. With a global network of more than 240 processing plants and 27,000 employees, ADM operates in 60 countries. ADM is the global leader in BioEnergy: the largest producer of ethanol in...

  • Page 3
    ... 2007 (in millions, except per share data) 2006 $36,596 1,312 242 841 657 5,661 5,293 4,050 $ 9,807 654 656 Net sales and other operating income ...Net earnings ...Cash dividends ...Gross additions to property, plant, and equipment ...Depreciation ...Working capital ...Net property, plant...

  • Page 4
    ... 20% primarily on the strength of commodity pricing and on additional sales volumes. Archer Daniels Midland Company We finished the year with a Return on Net Assets of 15.7%, solidly over our 13% objective, and we held costs to below our Cost per Metric Ton of Production objective of less than $110...

  • Page 5
    ... ethanol terminal network, and will link to our global market for animal feed co-products. We opened two new biodiesel plants in the U.S. and one in Brazil. To support growing demand for vegetable oil for fuel and food needs, we are expanding oilseed crushing capacity at five North American plants...

  • Page 6
    ... Arkady bakery ingredient business, as well as our interests in Agricore United, Overseas Shipholding Group and Tyson Foods. We also made progress on our Asia strategy, exchanging our Chinese joint venture interests for shares of Wilmar International Limited, the largest agribusiness company in Asia...

  • Page 7
    ... my privilege to build value for you and with you. Patricia A. Woertz Chairman, Chief Executive Officer and President Archer Daniels Midland Company Directors Top Row; From left to right; M. Brian Mulroney, Alan L. Boeckmann, Thomas F. O'Neill, Roger S. Joslin and Antonio Maciel Neto Middle Row...

  • Page 8
    ...President and Chief Financial Officer Mark Bemis Vice President (Cocoa, Malt and Milling) Mark J. Cheviron Vice President (Security and Corporate Services) Shannon Herzfeld Vice President (Government Relations) Craig E. Huss Vice President (Transportation and Grain) Matthew J. Jansen Vice President...

  • Page 9
    ... _____ Commission file number 1-44 ® ® ARCHER-DANIELS-MIDLAND COMPANY (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 41-0129150 (I. R. S. Employer Identification No.) 4666 Faries Parkway Box 1470 Decatur, Illinois...

  • Page 10
    ... sale price of Common Stock as reported on the New York Stock Exchange as of December 31, 2006) Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Common Stock, no par value-643,585,128 shares (July 31, 2007) DOCUMENTS...

  • Page 11
    ..., Executive Officers and Corporate Governance Executive Compensation Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Certain Relationships and Related Transactions, and Director Independence Principal Accountant Fees and Services Part IV Exhibits and...

  • Page 12
    ...of the world's largest processors of oilseeds, corn, wheat, and cocoa and is a leading manufacturer of biodiesel, ethanol, soybean oil and meal, corn sweeteners, flour, and other value-added food and feed ingredients. The Company also has an extensive grain elevator and transportation network to buy...

  • Page 13
    ... that operate wet corn milling plants in Bulgaria, Hungary, Romania, Slovakia, and Turkey. Agricultural Services The Agricultural Services segment utilizes the Company's extensive grain elevator and transportation network to buy, store, clean, and transport agricultural commodities, such as oilseeds...

  • Page 14
    ... in the United States, Australia, New Zealand, and Canada. Hickory Point Bank and Trust Company, fsb, 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. ADM Investor...

  • Page 15
    ... to be a world leader in BioEnergy whilst maintaining its premier position in the agricultural processing value chain through the development of new products. The Company's researchers have developed a number of custom low trans fats and oils for bakery and quickservice restaurants that utilize the...

  • Page 16
    ...and industrial products as well as applications technology. These individuals form quick-acting teams to develop solutions to customer needs. The Company is completing the two projects currently funded by the United States Department of Energy. The projects studied ways of converting corn fiber into...

  • Page 17
    ... in a Montreal, Canada research center. The Company conducts research for corn starches in paper and textile industries as well as fuel ethanol research in Clinton, Iowa. The Company maintains research centers in Quincy, Illinois, and Decatur, Indiana, that conduct swine and cattle feeding trials to...

  • Page 18
    ... file information electronically with the SEC. The SEC's Internet address is http://www.sec.gov. Item 1A. RISK FACTORS The availability and price of the agricultural commodities and agricultural commodity products the Company produces and merchandises can be affected by weather, disease, government...

  • Page 19
    ... can adversely affect agricultural commodity trade flows by limiting or disrupting trade between countries or regions. Future government policies may adversely affect the supply of, demand for, and prices of the Company's products, restrict the Company's ability to do business in its existing...

  • Page 20
    ... 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 employees and third parties globally. Any failure to...

  • Page 21
    ... plants are located in Georgia, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Carolina, Tennessee, and Texas. The foreign plants are located in Bolivia, Brazil, Canada, England, Germany, India, Mexico, the Netherlands, Poland, and the Ukraine. The Company...

  • Page 22
    ..., Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, North Dakota, Ohio, Oklahoma, Tennessee, and Texas. These elevators have an aggregate storage capacity of approximately 342 million bushels. The Company has five grain export elevators in Argentina, Mexico...

  • Page 23
    ... health and nutrition plants. The domestic plants are located in Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, Ohio, Pennsylvania, South Dakota, Texas, Washington, and Wisconsin. The foreign plants are located in Canada, China, Puerto Rico, and Trinidad...

  • Page 24
    ... The Company's common stock is listed and traded on the New York Stock Exchange, Chicago Stock Exchange, Frankfurt Stock Exchange, and Swiss Stock Exchange. The following table sets forth, for the periods indicated, the high and low market prices of the common stock as reported on the New York Stock...

  • Page 25
    ... the three-month period ended June 30, 2007, the Company received 42,213 shares as payment of the exercise price for stock option exercises. (2) On November 4, 2004, the Company's Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to 100,000,000 shares...

  • Page 26
    ... $100 $50 $0 6/02 6/03 6/04 6/05 6/06 6/07 Archer Daniels Midland Company S&P 500 S&P Packaged Foods & Meats Copyright © 2007, Standard & Poor's, a division of The McGraw-Hill Companies, Inc. All rights reserved. www.researchdatagroup.com/S&P.htm Graph produced by Research Data Group, Inc. 18

  • Page 27
    ... of the financial data shown above are as follows. • Net earnings for 2007 include a gain of $440 million ($286 million after tax, equal to $0.44 per share) related to the exchange of the Company's interests in certain Asian joint ventures for shares of Wilmar International Limited, realized...

  • Page 28
    ... well as activities related to the production, by fermentation, of bioproducts such as alcohol, amino acids, and other specialty food and feed ingredients. The Agricultural Services segment utilizes the Company's extensive grain elevator and transportation network to buy, store, clean, and transport...

  • Page 29
    ...higher net corn costs. Global grain merchandising opportunities resulting from regional production imbalances also improved operating results. North American river transportation operations were favorably impacted by strong demand for river transportation services which increased barge freight rates...

  • Page 30
    ... oil and increased sales volumes of vegetable oil and biodiesel. Vegetable oil selling prices and volumes improved as the markets anticipate new demand from the developing United States biodiesel industry. Biodiesel sales volumes increased due to additional production capacity. Corn Processing sales...

  • Page 31
    ... citric acid plant. During 2007 and 2006, the Company issued option grants and restricted stock awards to officers and key employees pursuant to the Company's Long-term Management Incentive Program. Certain officers and key employees of the Company receiving option grants and restricted stock awards...

  • Page 32
    .... Vegetable oil values improved as the markets anticipate new demand from the developing United States biodiesel industry. North American processing results were also favorably impacted by lower plant operating costs resulting from improved capacity utilization. Asian joint venture results improved...

  • Page 33
    ... gulf coast region of the United States disrupted North American grain origination and agricultural commodity export operations, negatively impacting export sales volumes. The gulf coast hurricanes also disrupted river transportation, resulting in increased barge demand and barge freight rates. 25

  • Page 34
    ... average selling prices of cocoa products and currency exchange rate decreases of $415 million. Net sales and other operating income by segment are as follows: 2006 Oilseeds Processing Corn Processing Sweeteners and Starches Bioproducts Total Corn Processing Agricultural Services Other Food, Feed...

  • Page 35
    .... Agricultural Services sales increased 2% to $15.4 billion primarily due to increased commodity prices in North America and, to a lesser extent, increased barge freight rates as the gulf coast hurricanes reduced barge capacities and created strong demand for North American river transportation...

  • Page 36
    ... price levels. North American processing results improved principally due to abundant oilseed supplies in the United States and good demand for soybean meal. Vegetable oil values were solid as the markets anticipate new demand from the developing United States biodiesel industry. South American...

  • Page 37
    ...partially offset by a decline in global grain merchandising and North American origination operating results. North American river transportation operating results increased primarily due to increased barge freight rates created by strong demand for barge capacity. This increase was partially offset...

  • Page 38
    ... million of increased payments on long-term debt principally related to the Company retiring $400 million of debentures in 2007. Capital resources were strengthened as shown by the increase in the Company's net worth from $9.8 billion to $11.3 billion. The Company's ratio of long-term debt to total...

  • Page 39
    .... Upon closing of the sale of the Notes, $370 million of the net proceeds from the Note issuance and the proceeds from the warrant transactions were used to repurchase 10.3 million shares of the Company's common stock under the Company's stock repurchase program. As of June 30, 2007, none of the...

  • Page 40
    ... obligations were $51 million at June 30, 2007. Critical Accounting Policies The process of preparing financial statements requires management to make estimates and judgments that affect the carrying values of the Company's assets and liabilities as well as the recognition of revenues and expenses...

  • Page 41
    ... to fix the purchase price of anticipated volumes of commodities to be purchased and processed in a future month, to fix the purchase price of the Company's anticipated natural gas requirements for certain production facilities, and to fix the sales price of anticipated volumes of ethanol. These...

  • Page 42
    ... financial statements. Asset Abandonments and Write-Downs The Company is principally engaged in the business of procuring, transporting, storing, processing, and merchandising agricultural commodities and products. This business is global in nature and is highly capitalintensive. Both the...

  • Page 43
    ... of living, and global production of similar and competitive crops. To reduce price risk caused by market fluctuations, the Company generally follows a policy of using exchange-traded futures and options contracts to minimize its net position of merchandisable agricultural commodity inventories and...

  • Page 44
    ... to market risk of its daily net commodity position. The Company's daily net commodity position consists of inventories, related purchase and sale contracts, and exchange-traded futures contracts, including those contracts used to hedge portions of production requirements. The fair value of such...

  • Page 45
    ... have a high correlation to the price changes in the currency of the related transactions. The potential loss in fair value for such net currency position resulting from a hypothetical 10% adverse change in foreign currency exchange rates is not material. The amount the Company considers permanently...

  • Page 46
    ... AND SUPPLEMENTARY DATA Financial Statements Consolidated Statements of Earnings Consolidated Balance Sheets Consolidated Statements of Cash Flows Consolidated Statements of Shareholders' Equity Notes to Consolidated Financial Statements Reports of Independent Registered Public Accounting Firm 39...

  • Page 47
    Archer Daniels Midland Company Consolidated Statements of Earnings Year Ended June 30 2007 2006 2005 (In millions, except per share amounts) Net sales and other operating income Cost of products sold Gross Profit Selling, general and administrative expenses Other income - net Earnings Before Income ...

  • Page 48
    Archer Daniels Midland Company Consolidated Balance Sheets June 30 2007 (In millions) Assets Current ...5,293 $21,269 Liabilities and Shareholders' Equity Current Liabilities Short-term debt Accounts payable Accrued expenses Current maturities of long-term debt Total Current Liabilities Long-Term ...

  • Page 49
    Archer Daniels Midland Company Consolidated Statements of Cash Flows Year Ended June 30 2006 (In millions) $1,312 2007 Operating Activities Net earnings Adjustments to reconcile net earnings to net cash provided by operating activities Depreciation Asset abandonments Deferred income taxes Gain on ...

  • Page 50
    Archer Daniels Midland Company Consolidated Statements of Shareholders' Equity Accumulated Other Total Comprehensive Shareholders' Income Equity Common Stock Shares Amount Reinvested Earnings (In millions) Balance June 30, 2004 Comprehensive income Net earnings Other comprehensive income (loss) ...

  • Page 51
    Archer Daniels Midland Company Notes to Consolidated Financial Statements Note 1. Summary of Significant Accounting Policies Nature of Business The Company is principally engaged in procuring, transporting, storing, processing, and merchandising agricultural commodities and products. Principles ...

  • Page 52
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) Credit risk on trade receivables is minimized as a result of the large and diversified nature of the Company's worldwide customer base. The Company ...

  • Page 53
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) Stock Compensation Effective July 1, 2004, the Company adopted the fair value recognition provisions of SFAS Number 123, Accounting for Stock-Based ...

  • Page 54
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) defined benefit postretirement plans in the accompanying consolidated balance sheet. The impact on the Company's consolidated balance sheet resulting ...

  • Page 55
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Marketable Securities and Cash Equivalents Cost 2007 United States government obligations Maturity less than 1 year Maturity 1 to 5 years Government-sponsored enterprise obligations Maturity less than 1 ...

  • Page 56
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Marketable Securities and Cash Equivalents (Continued) Cost 2006 United States government obligations Maturity less than 1 year Maturity 1 to 5 years Government-sponsored enterprise obligations Maturity ...

  • Page 57
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 4. Inventories and Derivatives To reduce price risk caused by market fluctuations, the Company generally follows a policy of using exchangetraded futures and options contracts to minimize its net position ...

  • Page 58
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 4. Inventories and Derivatives (Continued) The Company, from time to time, uses futures contracts to fix the purchase price of anticipated volumes of commodities to be purchased and processed in a future ...

  • Page 59
    ... million. During June 2007, the Company exchanged its ownership interests in eleven Asian joint venture companies for shares of Wilmar International Limited (WIL), a Singapore publicly listed company. In exchange for its ownership interests in the joint ventures, the Company received 366 million WIL...

  • Page 60
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 6. Goodwill The Company accounts for its goodwill and other intangible assets in accordance with SFAS Number 142, Goodwill and Other Intangible Assets. Under this standard, goodwill and intangible assets ...

  • Page 61
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 7. Debt and Financing Arrangements 2007 2006 (In millions) 0.875% Convertible Senior Notes $1,150 million face amount, due in 2014 5.375% Debentures $600 million face amount, due in 2035 5.935% Debentures $...

  • Page 62
    ... than 98% of the average of the product of the closing price of the Company's common stock and the conversion rate at each date during the note measurement period, 3) if the Company makes specified distributions to its common stockholders or specified corporate transactions occur, or 4) at any time...

  • Page 63
    ... the service period of the respective grant. Certain of the Company's option grants and restricted stock awards continue to vest upon the recipient's retirement from the Company and compensation expense related to option grants and restricted stock awards granted to retirement eligible employees is...

  • Page 64
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 8. Shareholder's Equity (Continued) The fair value of each option grant is estimated as of the date of grant using the Black-Scholes single option pricing model. The volatility assumption used in the Black-...

  • Page 65
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 8. Shareholder's Equity (Continued) The fair value of restricted shares is determined based on the market value of the Company's shares on the grant date. The weighted-average grant-date fair values of ...

  • Page 66
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 9. Accumulated Other Comprehensive Income The following table sets forth information with respect to accumulated other comprehensive income: Foreign Currency Translation Adjustment Deferred Gain (Loss) on ...

  • Page 67
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 10. Other Income - Net 2007 2006 (In millions) $ 365 (204) 4 (40) - 12 (174) (45) $ (82) 2005 $ 326 (135) - (113) - (1) (229) (14) $ (166) Interest expense Investment income Loss on extinguishment of ...

  • Page 68
    ... federal income tax rate to the Company's effective tax rate on earnings is as follows: 2007 2006 2005 Statutory rate 35.0% 35.0% 35.0% Export tax incentives (1.8) (2.6) (0.5) State income taxes, net of federal tax benefit 1.9 1.4 1.4 Foreign earnings taxed at rates other than the U.S. statutory...

  • Page 69
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 11. Income Taxes (Continued) The Company has $82 million and $85 million of tax assets for net operating loss carryforwards related to certain international subsidiaries at June 30, 2007 and 2006, ...

  • Page 70
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 13. Employee Benefit Plans The Company provides substantially all domestic employees and employees at certain international subsidiaries with pension benefits. The Company also provides substantially all ...

  • Page 71
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 13. Employee Benefit Plans (Continued) The incremental effects of adopting the provisions of SFAS Number 158 on the Company's consolidated balance sheet at June 30, 2007 are presented in the following table...

  • Page 72
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 13. Employee Benefit Plans (Continued) The Company uses a March 31 measurement date for substantially all defined benefit plans. The following tables set forth changes in the defined benefit obligation and ...

  • Page 73
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 13. Employee Benefit Plans (Continued) Included in accumulated other comprehensive income for pension benefits at June 30, 2007, are the following amounts that have not yet been recognized in net periodic ...

  • Page 74
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 13. Plan Assets Employee Benefit Plans (Continued) The following table sets forth the actual asset allocation for the Company's global...% in real estate. The actual asset allocation for the Company's foreign ...

  • Page 75
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 13. Employee Benefit Plans (Continued) External consultants monitor the investment strategy and asset mix for the Company's plan assets. To develop the Company's expected long-term rate of return assumption...

  • Page 76
    ... well as activities related to the production, by fermentation, of bioproducts such as alcohol, amino acids, and other specialty food and feed ingredients. The Agricultural Services segment utilizes the Company's extensive grain elevator and transportation network to buy, store, clean, and transport...

  • Page 77
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 14. Segment and Geographic Information (Continued) Segment Information 2007 Sales to external customers Oilseeds Processing Corn Processing Agricultural Services Other Total Intersegment sales Oilseeds ...

  • Page 78
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 14. Segment and Geographic Information (Continued) 2007 2006 (In millions) 18 28 137 74 257 $ 25 16 103 60 204 2005 Investment income Oilseeds Processing Agricultural Services Other Corporate Total Equity ...

  • Page 79
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 14. Segment and Geographic Information (Continued) 2007 (In millions) 2006 Gross additions to property, plant, and equipment Oilseeds Processing Corn Processing Agricultural Services Other Corporate Total ...

  • Page 80
    ... per share) related to the Company's sale of equity securities of Tyson Foods Inc. and Overseas Shipholding Group, Inc., and $157 million ($99 million after tax, equal to $0.15 per share) related to the sale of businesses. Net earnings for the three months and year ended June 30, 2007, also includes...

  • Page 81
    ... Number 158 related to defined benefit pension and other postretirement plans. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the effectiveness of Archer Daniels Midland Company's internal control over financial reporting...

  • Page 82
    ... The Board of Directors and Shareholders Archer Daniels Midland Company Decatur, Illinois We have audited management's assessment, included in the accompanying Management's Report on Internal Control Over Financial Reporting, that Archer Daniels Midland Company maintained effective internal control...

  • Page 83
    ...firm, has issued an attestation report on management's assessment of the Company's internal control over financial reporting as of June 30, 2007. That report is included herein. /s/ Patricia A. Woertz Patricia A. Woertz Chairman, Chief Executive Officer and President /s/ Douglas J. Schmalz Douglas...

  • Page 84
    PART III Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE Information with respect to directors, executive officers, code of conduct, audit committee and audit committee financial experts of the Company, and Section 16(a) beneficial ownership reporting compliance is set forth in "...

  • Page 85
    ... from January 2003 to June 2007. Research Fellow and Manager of Technology and Quality for the OSB Business Unit at Louisiana-Pacific Corporation from July 1999 to January 2003. 57 Edward A. Harjehausen Shannon Herzfeld 55 Craig E. Huss 55 Matthew J. Jansen 41 Michael Lusk 58 Vikram...

  • Page 86
    ...Vice President from May 2007. Corporate communications consultant for various global companies from 1989 to May 2007. Executive Vice President from February 2005. Senior Vice President from February 2000 to February 2005. Group Vice President and President, North American Oilseed Processing Division...

  • Page 87
    ... Products Company from 1998 to 2001. Vice President from August 2005. Managing DirectorADM International, Ltd. since June 2005. Various merchandising management positions from 2000 to 2005. 40 John P. Stott Patricia A. Woertz 54 Mark N. Zenuk 40 Officers of the Company are elected by the Board...

  • Page 88
    ...MANAGEMENT AND RELATED STOCKHOLDER MATTERS Information responsive to this Item is set forth in "Principal Holders of Voting Securities", "Election of Directors", "Executive Officer Stock Ownership" and "Equity Compensation Plan Information" of the definitive proxy statement for the Company's annual...

  • Page 89
    ...Company and The Bank of New York, as Trustee, including form of 0.875% Convertible Senior Notes due 2014 (incorporated by reference to Exhibit 4.1 to Form 8-K (File No. 1-44) filed on February 22, 2007). (iv) Registration Rights Agreement, dated February 22, 2007, among the Company, Citigroup Global...

  • Page 90
    ..., 1996 (File No. 1-44)). (iv) The Archer-Daniels-Midland Company Amended and Restated Stock Unit Plan for Nonemployee Directors (incorporated by reference to Exhibit 99.3 to the Company's Current Report on Form 8K filed with the Securities and Exchange Commission on December 23, 2004 (File No. 1-44...

  • Page 91
    ... (xiii) Form of Restricted Stock Agreement (incorporated by reference to Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2005 (File No. 1-44)). (xiv) Separation Agreement between Archer-Daniels-Midland Company and Paul B. Mulhollem dated September 29, 2005...

  • Page 92
    ...the undersigned, thereunto duly authorized. Date: August 27, 2007 ARCHER-DANIELS-MIDLAND COMPANY By: /s/ D. J. Smith D. J. Smith Executive Vice President, Secretary and General Counsel Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below on August 27...

  • Page 93
    ... Archer Daniels Midland Company common stock is listed and traded on the New York Stock Exchange, Chicago Stock Exchange, Frankfurt Stock Exchange and the Swiss Stock Exchange. Ticker Symbol: ADM. Transfer Agent and Registrar Hickory Point Bank and Trust, fsb 1099 W. Wood St., Suite G Decatur, IL...

  • Page 94
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