Archer Daniels Midland 2007 Annual Report Download - page 71

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63
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. The adoption of SFAS Number 158 had no
effect on the Company’s consolidated statement of earnings for the year ended June 30, 2007, or for any prior
period presented, and it will not effect the Company’s operating results in future periods. Had the Company not
been required to adopt SFAS Number 158 at June 30, 2007, it would have recognized an additional minimum
liability pursuant to the provisions of SFAS Number 87. The effects of recognizing the additional minimum
liability is included in the table below in the column labeled “Prior to Adopting SFAS Number 158.”
Pension Benefits Postretirement Benefits
At June 30, 2007 At June 30, 2007
Prior to
Adopting
Effect of
Adopting
As
Prior to
Adopting
Effect of
adopting
As
SFAS SFAS Reported SFAS SFAS Reported
Number Number at June Number Number at June
158 158 30, 2007 158 158 30, 2007
(In millions) (In millions)
Prepaid benefit cost $ 178 $ (156) $ 22 $ – $ – $ –
Accrued benefit
liability
(204)
(118)
(322)
(170)
(38)
(208)
Intangible asset 21 (21) – – – –
Accumulated other
comprehensive income
85
295
380
–
38
38