Archer Daniels Midland 2010 Annual Report Download - page 42

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38
Archer Daniels Midland Company
Consolidated Statements of Earnings
Year Ended June 30
2010
2009
2008
(In millions, except per share amounts)
Net sales and other operating income
$ 61,682
$ 69,207
$ 69,816
Cost of products sold
57,839
65,118
65,974
Gross Profit
3,843
4,089
3,842
Selling, general and administrative expenses
1,398
1,412
1,419
Other (income) expense - net
(140)
177
(171)
Earnings Before Income Taxes
2,585
2,500
2,594
Income taxes
666
812
808
Net Earnings Including Noncontrolling Interests
1,919
1,688
1,786
Less: Net earnings (losses) attributable to noncontrolling interests
(11)
4
6
Net Earnings Attributable to Controlling Interests
$ 1,930
$ 1,684
$ 1,780
Average number of shares outstanding – basic
643
643
644
Average number of shares outstanding – diluted
644
644
646
Basic earnings per common share
$ 3.00
$ 2.62
$ 2.76
Diluted earnings per common share
$ 3.00
$ 2.62
$ 2.75
See notes to consolidated financial statements.