Archer Daniels Midland 2009 Annual Report Download - page 83

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77
Archer Daniels Midland Company
Notes to Consolidated Financial Statements (Continued)
Note 17.
Quarterly Financial Data (Unaudited)
Quarter
First
Second
Third
Fourth
Year
(In millions, except per share amounts)
Fiscal 2009
Net Sales
$21,160
$16,673
$14,842
$16,532
$69,207
Gross Profit
1,867
1,212
649
361
4,089
Net Earnings
1,050
585
8
64
1,707
Basic Earnings Per
Common Share
1.63
0.91
0.01
0.10
2.66
Diluted Earnings Per
Common Share
1.63
0.91
0.01
0.10
2.65
Fiscal 2008
Net Sales
$12,828
$16,496
$18,708
$21,784
$69,816
Gross Profit
930
948
1,157
807
3,842
Net Earnings
441
473
517
372
1,802
Basic Earnings Per
Common Share
0.68
0.74
0.80
0.58
2.80
Diluted Earnings Per
Common Share
0.68
0.73
0.80
0.58
2.79
Net earnings for the second quarter ended December 31, 2008, third quarter ended March 31, 2009, and fourth
quarter and year ended June 30, 2009 include charges to other income of $51 million ($32 million after tax,
equal to $0.05 per share), $212 million ($132 million after tax, equal to $0.21 per share), $12 million ($7 million
after tax, equal to $0.01 per share) and $275 million ($171 million after tax equal to $0.27 per share),
respectively, related to equity losses resulting from currency derivative losses of the Company’s investee, Gruma
S.A.B. de C.V. Net earnings for the third quarter ended March 31, 2009, and fourth quarter and year ended June
30, 2009 include income tax charges of $97 million or $0.15 per share, $61 million or $0.09 per share, and $158
million or $0.24 per share, respectively, resulting from the reorganization of the holding company structure in
which the Company holds a portion of its equity investment in Wilmar International Limited.