Archer Daniels Midland 2008 Annual Report Download

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Archer Daniels Midland Company 2008 Annual Report
VITAL
THE
WORLD
TO
NOURISHMENT
CONNECTION
ENERGY
PROGRESS

Table of contents

  • Page 1
    Archer Daniels Midland Company 2008 Annual Report VITAL TO THE WORLD NOURISHMENT CONNECTION ENERGY PROGRESS

  • Page 2
    ... CHALLENGES FACING OUR PLANET AND ITS PEOPLE. That's why our 27,600 employees are hard at work transforming corn, oilseeds, cocoa, wheat and other crops into food, feed, fuel and industrial products needed to sustain a rapidly growing and increasingly prosperous global population. As one of the...

  • Page 3
    ... except per share data) 2008 $ 69,816 1,802 316 1,789 721 10,834 7,125 7,690 $ 13,490 644 646 $ $ 2007 44,018 2,162 281 1,404 701 7,254 6,010 4,752 11,253 651 656 Net sales and other operating income Net earnings Cash dividends Gross additions to property, plant and equipment Depreciation Working...

  • Page 4
    ...Chief Executive Officer and President Patricia A. Woertz at ADM's offices in São Paulo, Brazil. TO THE SHAREHOLDERS AND EMPLOYEES...value to opportunities as they arise. In 2008, we deployed our unique combination of ... as strong demand for crops and commodities challenged the global supply chain, we...

  • Page 5
    ... that each quarter and each year external factors - volatile commodity prices, planting decisions, weather conditions - present new sets of challenges and opportunities. That's why we devoted effort this year to building our internal capacity and our collaborative culture to sustain the growth...

  • Page 6
    ... and 2010, and will initially increase our annual U.S. ethanol production capacity to 1.65 billion gallons. In fiscal 2008, we opened biodiesel plants in velva, N.D., and Rondonopolis, Brazil. And, we advanced our collaborative effort to develop renewable transportation fuels derived from biomass...

  • Page 7
    THE VITAL LINK: ADM's business begins in the earth and culminates in products that benefit all humankind.

  • Page 8
    ... and diversity of their diets, ADM is producing the food ingredients and animal feeds that make choices possible. Our vast global network of processing facilities turns crops into flours, sweeteners, oils, proteins, chocolate and other products that nourish and satisfy millions of people each and...

  • Page 9
    ... crop sourcing and transportation network, ADM serves as the vital connection between supply and demand in the global agricultural marketplace. ADM's rail, trucking and shipping assets span the globe, and our unparalleled elevator and port capabilities ensure products reach their destinations...

  • Page 10
    ... Decatur, Ill. THE WORLD NEEDS ENERGY. THE ANSWER IS DIVERSITY. As the world searches for more plentiful sources of clean, renewable energy, ADM is producing today's alternatives and engineering tomorrow's solutions. Our research teams are leveraging ADM's leadership in corn ethanol and biodiesel...

  • Page 11
    ... of the Company's new cocoa processing plant in Hazleton, Pa. THE WORLD NEEDS PROGRESS. THE ANSWER IS GROWTH. Developing nations with burgeoning economies and billions of citizens are driving massive increases in the already robust global demand for food, feed, fuel and industrial products made by...

  • Page 12
    ... and trade operations use proprietary global crop intelligence and our unparalleled network of grain elevators and terminals to obtain agricultural products in quantities sufficient to meet customer demand. We draw upon a vast global network of rail, shipping, trucking and storage resources to...

  • Page 13
    ... value from each seed, kernel or grain. Finished products leave our processing plants and find their way to the global marketplace via the trucks, railcars and barges that make up our transportation network. Our sales, marketing and technology teams serve as consultants to customers in a host...

  • Page 14
    ... and Corporate Services SHANNON HERZFELD vice President Global Oilseeds RONALD S. BANDLER President and Chief Executive Officer, Assistant Treasurer SCOTT A. ROBERTS KRW Advisors, L.L.C. vice President Government Relations CRAIG E. HUSS Assistant Secretary and Assistant General Counsel vice...

  • Page 15
    ..., Illinois (Address of principal executive offices) 62525 (Zip Code) 217-424-5200 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, no par value New York...

  • Page 16
    ..., as of the last business day of the registrant's most recently completed second fiscal quarter. Common Stock, no par value--$29.2 billion (Based on the closing sale price of Common Stock as reported on the New York Stock Exchange as of December 31, 2007) Indicate the number of shares outstanding of...

  • Page 17
    ... Controls and Procedures Other Information Part III Directors, 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...

  • Page 18
    ... manufacturer of soybean oil and protein meal, corn sweeteners, flour, biodiesel, ethanol, and other value-added food and feed ingredients. The Company also has an extensive grain elevator and transportation network to procure, store, clean, and transport agricultural commodities, such as oilseeds...

  • Page 19
    ... has a 40% ownership interest in this joint venture. Agricultural Services The Agricultural Services segment utilizes the Company's extensive grain elevator and transportation network in the United States to buy, store, clean, and transport agricultural commodities, such as oilseeds, corn, wheat...

  • Page 20
    ..., New Zealand, and Canada on July 31, 2008. 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 Services...

  • Page 21
    ...: % of Net Sales and Other Operating Income 2008 2007 2006 Soybeans Corn Soybean Meal Wheat Status of New Products The Company continues to expand its business through the development of new products to meet the growing demands for food, animal feed, chemicals and energy. The Company's researchers...

  • Page 22
    ... and technical support for industrial and food wheat starch applications is conducted in Montreal, Canada. The Company has consolidated its research facilities by closing the Clinton, Iowa and Decatur, Indiana research locations and relocating staff to the research center in Decatur, Illinois. 8

  • Page 23
    ...through its Internet site, the Company's Business Code of Conduct and Ethics, Corporate Governance Guidelines, and the written charters of the Audit, Compensation/Succession, Nominating/Corporate Governance, and Executive Committees. References to our website addressed in this report are provided as...

  • Page 24
    ... 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 25
    ... 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 comply with applicable laws and regulations could subject the Company to administrative penalties and...

  • Page 26
    ... adversely affect the Company's operating results The Company's risk management strategies may not be effective. The Company's business is affected by fluctuations in agricultural commodity prices, transportation costs, energy prices, interest rates, and foreign currency exchange rates. We engage in...

  • Page 27
    ...plants are located in Georgia, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Carolina, Tennessee, and Texas. The international plants are located in Bolivia, Brazil, Canada, England, Germany, India, Mexico, the Netherlands, Poland, and Ukraine. The Company...

  • Page 28
    ... in North Dakota. The Company also operates twenty-eight domestic and seven international formula feed and animal health and nutrition plants. The domestic plants are located in Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, Ohio, Pennsylvania, Texas...

  • Page 29
    ... bakery mix plants. These plants and related properties are located in California, Illinois, Indiana, Kansas, Minnesota, Missouri, Nebraska, New York, North Carolina, Oklahoma, Pennsylvania, Tennessee, Texas, Washington, Barbados, Belize, Canada, England, Grenada, and Jamaica. The Company operates...

  • Page 30
    ... Stock Market Prices and Dividends The Company's common stock is listed and traded on the New York Stock Exchange and the Frankfurt 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 Exchange...

  • Page 31
    ... the three-month period ended June 30, 2008, the Company received 10,399 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 32
    ...500 Index, the S&P Packaged Foods and Meats Index, and the S&P Consumer Staples Index which the Company today considers a more relevant line-of-business index. The graph assumes all dividends have been reinvested and assumes an initial investment of $100 on June 30, 2003. Information in the graph is...

  • Page 33
    ...per share) related to the exchange of the Company's interests in certain Asian joint ventures for shares of Wilmar International Limited, realized securities gains of $357 million ($225 million after tax, equal to $0.34 per share) related to the Company's sale of equity securities of Tyson Foods Inc...

  • Page 34
                                            %  %   !)  )  ) )   ! !    ! +    .--/)  %  ...

  • Page 35
    ... tax on business disposals recorded in 2007 including $440 million related to the exchange of the Company's interest in certain Asian joint ventures for shares of Wilmar International Limited (the Wilmar gain), a $357 million realized securities gain from sales of the Company's equity securities...

  • Page 36
    ... rate fluctuations. Net sales and other operating income by segment are as follows: 2008 Oilseeds Processing Crushing & Origination Refining, Packaging, Biodiesel & Other Asia Total Oilseeds Processing Corn Processing Sweeteners & Starches Bioproducts Total Corn Processing Agricultural Services...

  • Page 37
    ... sale of the Company's Arkady food ingredient business. Equity in earnings of unconsolidated affiliates increased $121 million in 2008, primarily related to improved operating results of the Company's investments in U.S. grain export, Asian oilseeds and peanut processing ventures. Other income - net...

  • Page 38
    ... primarily due to improvements in the Company's futures commission merchant business. Corporate expense increased $810 million to $817 million, primarily due to a $362 million increase in the charge related to the effects of changing commodity prices on LIFO inventory valuations, a $371 million...

  • Page 39
    ... a gain of $440 million related to the exchange of the Company's interests in certain Asian joint ventures for shares of Wilmar International Limited (the Wilmar Gain), a $357 million realized securities gain from sales of the Company's equity securities of Tyson Foods, Inc. and Overseas Shipholding...

  • Page 40
    ...oil and increased sales volumes of vegetable oil and biodiesel. Vegetable oil selling prices and volumes improved as the markets anticipated new demand from the developing United States biodiesel industry. Biodiesel sales volumes increased due to additional production capacity. Corn Processing sales...

  • Page 41
    ... 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 42
    .... Vegetable oil values improved as the markets anticipated 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 43
    ... commission merchant business, partially offset by lower operating results of the Company's captive insurance operations. The results of the Company's captive insurance operations for 2007 include a $12 million charge related to a Hurricane Katrina trade disruption insurance settlement. Corporate...

  • Page 44
    ... June 30, 2008, the market price of the Company's common stock was not greater than the exercise price of the purchased call options or warrants related to the convertible senior notes. In June 2008, the Company issued $1.75 billion of debentures as a component of Equity Units. The Equity Units are...

  • Page 45
    ... private equity funds which invest primarily in emerging markets. At June 30, 2008, the Company's carrying value of these limited partnership investments was $129 million. The Company has future capital commitments related to these partnerships of $137 million and expects the majority of these...

  • Page 46
    ... of cost of products sold. 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 domestic salaried employees with postretirement health care and life...

  • Page 47
    ... been provided for in the consolidated 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...

  • Page 48
    ... relate to the Company's net commodity position, foreign currency exchange rates, and interest rates as described below. Commodities The availability and price of agricultural commodities are subject to wide fluctuations due to unpredictable factors such as weather, plantings, government programs...

  • Page 49
    ...10% adverse change in quoted foreign currency exchange rates is $695 million and $543 million for 2008 and 2007, respectively. Actual results may differ. Interest The fair value of the Company's long-term debt is estimated using quoted market prices, where available, and discounted future cash flows...

  • Page 50
    ... 73 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 36

  • Page 51
    Archer Daniels Midland Company Consolidated Statements of Earnings Year Ended June 30 2008 2007 2006 (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 52
    Archer Daniels Midland Company Consolidated Balance Sheets June 30 2008...Plant, and Equipment Land Buildings Machinery and equipment Construction in progress Accumulated depreciation Net Property, Plant... Liabilities Shareholders' Equity Common stock Reinvested earnings Accumulated other comprehensive...

  • Page 53
    ... activities Depreciation Asset abandonments and impairments Deferred income taxes Gain on sales of marketable securities Gain on exchange of unconsolidated affiliates Gain on sale of businesses Equity in earnings of affiliates, net of dividends Stock contributed to employee benefit plans Pension and...

  • Page 54
    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, 2005 Comprehensive income Net earnings Other comprehensive income Total ...

  • Page 55
    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 56
    ... carrying value of these assets is immaterial. Net Sales The Company follows a policy of recognizing sales revenue at the time of delivery of the product and when all of the following have occurred: a sales agreement is in place, pricing is fixed or determinable, and collection is reasonably assured...

  • Page 57
    ...date of grant using the Black-Scholes option valuation model which requires the input of highly subjective assumptions. Measured compensation cost, net of estimated forfeitures, is recognized ratably over the vesting period of the related sharebased compensation award. Research and Development Costs...

  • Page 58
    Archer Daniels Midland Company Notes to ...related hedged items affect the entity's financial position, financial performance, and cash flows. Entities must provide tabular disclosures of the location, by line item, of amounts of gains and losses reported in the statement of earnings. The Company...

  • Page 59
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) During June 2008, the FASB issued FSP Emerging Issues Task Force (EITF) 03-6-1, Determining Whether Instruments Granted in Share-Based Payment ...

  • Page 60
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Marketable Securities and Cash Equivalents Unrealized Unrealized Gains Losses (In millions) Cost 2008 United States government obligations Maturity less than 1 year Maturity 1 to 5 years Government-...

  • Page 61
         #            !      !    !"   !   %-0    #    .+( -++2( %0       ,- *             ...

  • Page 62
    ... natural gas requirements for certain production facilities. In addition, certain of the Company's ethanol sales contracts are indexed to gasoline prices. The Company uses futures and options to fix the sales price of anticipated volumes of these ethanol sales in future months. These derivatives...

  • Page 63
    ... in Agricore United for cash of $321 million and recognized a gain of $153 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...

  • Page 64
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 5. Investments in and Advances to Affiliates (Continued) As of June 30, 2008, there is one joint venture company subject to the WIL exchange transaction for which regulatory approval is pending. The Company ...

  • Page 65
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 7. Debt and Financing Arrangements 2008 2007 (In millions) 4.70% Debentures $1,750 million face amount, due in 2041 0.875% Convertible Senior Notes $1,150 million face amount, due in 2014 5.45% Notes $...

  • Page 66
    ... in June 2008, the Company issued $1.75 billion of Equity Units. Equity Units are a combination of (a) debt and (b) forward purchase contract for the holder to purchase the Company's common stock. The debt and equity instruments are deemed to be separate instruments as the investor may transfer or...

  • Page 67
    ... (the note measurement period) in which the average of the trading price per $1,000 principal amount of Notes was equal to or less 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...

  • Page 68
    ... the date of grant. The Company's 1999 and 2002 Incentive Compensation Plans provide for the granting of restricted stock and restricted stock units (Restricted Stock Awards) at no cost to certain officers and key employees. The awards are made in common stock or stock units with equivalent rights...

  • Page 69
    ... 30* 8  2* 4* 31* 8 2008 " 30- 2007 " 30- 2008 " 30- 2008           " 30- 2008-  7 &  5 " 30- 2008-  )89 45 2008- 2007-  2006- $ )12/60- )16/42-  )7/52 2008- 2007-  2006- $ )34 - )41 60 2008- 2007-  2006...

  • Page 70
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 8. Shareholders' Equity (Continued) The fair value of Restricted Stock Awards is determined based on the market value of the Company's shares on the grant date. The weighted-average grant-date fair values ...

  • Page 71
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 9. Accumulated Other Comprehensive Income The following table sets forth information...) (Gains) losses reclassified to earnings Tax effect Net of tax amount Balance at June 30, 2008 $ (17) 107 - - 107 90 312...

  • Page 72
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 10. Other Income - Net 2008 2007 (In millions) $ 434 (257) 46 (393) (440) (209) (294) 1 $(1,112) 2006 $ 365 (204) 4 (40) - 12 (174) (45) $ (82) Interest expense Investment income Loss on ...

  • Page 73
    Notes to Consolidated Financial Statements (Continued) #'  #!    7;7 38 48 468 76 ;59  0        +   362 45 32; 6; 33: 65; 6;: 56 + 754  +     5712, -217. 316 -41;. -216. -313. 5317,  5712, -31:. 31; -619. -414. 313 4;15,...

  • Page 74
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 11. Income Taxes (Continued) The Company has $69 million and $82 million of tax assets for net operating loss carry-forwards related to certain international subsidiaries at June 30, 2008 and 2007, ...

  • Page 75
    ...2007, and June 30, 2008, respectively, the Company had accrued $14.4 million and $17.5 million of liabilities for interest and penalties on unrecognized tax benefits. Note 12. Leases The Company leases manufacturing and warehouse facilities, real estate, transportation assets, and other equipment...

  • Page 76
    ... international subsidiaries with pension benefits. The Company also provides substantially all domestic salaried employees with postretirement health care and life insurance benefits. The Company has savings and investment plans available to employees. The Company also maintains stock ownership...

  • Page 77
    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 No. 158 on the Company... Benefits At June 30, 2007 Prior to Effect of As Adopting Adopting Reported SFAS...

  • Page 78
    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 79
    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, 2008, are the following amounts that have not yet been recognized in net periodic ...

  • Page 80
    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 pension plan assets as of the measurement date: 20081, 2 Equity ...

  • Page 81
    ... Information The Company is principally engaged in procuring, transporting, storing, processing, and merchandising agricultural commodities and products. Beginning July 1, 2007, the Company has reclassified certain operations within its reportable segments to reflect how the Company now manages...

  • Page 82
    ...industry as well as activities related to the production, by fermentation, of bioproducts such as ethanol, amino acids, and other food, feed and industrial products. The Agricultural Services segment utilizes the Company's extensive grain elevator and transportation network to buy, store, clean, and...

  • Page 83
    ... 14. Segment and Geographic Information (Continued) Segment Information 2008 Sales to external customers Oilseeds Processing Corn Processing Agricultural Services Other Total Intersegment sales Oilseeds Processing Corn Processing Agricultural Services Other Total Net sales Oilseeds Processing Corn...

  • Page 84
    Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 14. Segment and Geographic Information (Continued) 2008 2007 (In millions) 24 48 136 61 269 $ 17 29 137 74 257 2006 Investment income Oilseeds Processing Agricultural Services Other Corporate Total Equity ...

  • Page 85
    ... and long-lived assets based on physical location. Long-lived assets represent the sum of the net book value of property, plant, and equipment plus goodwill related to consolidated businesses. 2008 Net sales and other operating income United States Germany Other foreign 2007 (In millions) $ 24,244...

  • Page 86
    ... after tax, equal to $0.34 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...

  • Page 87
    3 !"& 1' " #!,2 & " (! 963 866< ! 866;3 3 3 963 866

  • Page 88
    3 963 866

  • Page 89
    ...reporting during the Company's most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company's internal controls over financial reporting. MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING Archer Daniels Midland Company...

  • Page 90
    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 91
    ... of the Law Department since 1985. Vice President from December 2004. Various finance and control positions with General Motors Corporation from 1993 to 2004. 56 Craig E. Huss Matthew J. Jansen 42 Michael Lusk 59 Vikram Luthar 41 Steven R. Mills 53 Victoria Podesta 52 John D. Rice 54...

  • Page 92
    ... 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE (Continued) Vice President from April 2001. Member of the Law Department from 1991 to April 2001. Executive Vice President, Secretary and General Counsel from January 2003. Senior Vice President, Secretary and General Counsel from January...

  • Page 93
    ...Term," "Executive Officer Stock Ownership," and "Equity Compensation Plan Information" of the definitive proxy statement for the Company's annual meeting of stockholders to be held on November 6, 2008, and is incorporated herein by reference. Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS...

  • Page 94
    ...due September 15, 2035. (ii) Indenture dated September 20, 2006, between the Company and The Bank of New York, as Trustee (incorporated by reference to Exhibit 4 to Registration Statement on Form S-3, Registration No. 333-137541), relating to: the $500,000,000 - 6.45% Debentures due January 15, 2038...

  • Page 95
    ... 3, 2008, among ADM, The Bank of New York as Purchase Contract Agent, and the Bank of New York as Collateral Agent, Custodial Agent, and Securities Intermediary, including form of Corporate Units, form of Treasury Units and form of Remarketing Agreement (incorporated by reference to Exhibit 4.1 to...

  • Page 96
    ... (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 97
    Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES (Continued) Certification of Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. Certification of Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to ...

  • Page 98
    ...the undersigned, thereunto duly authorized. Date: August 28, 2008 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 28...

  • Page 99
    STOCKHOLDER INFORMATION STOCK EXCHANGES Archer Daniels Midland Company common stock is listed and traded on the New York Stock Exchange and the Frankfurt Stock Exchange. Ticker Symbol: ADM. TRANSFER AGENT AND REGISTRAR NOTICE OF ANNUAL MEETING The Annual Meeting of Stockholders of the Company ...

  • Page 100
    NOURISHMENT CONNECTION ENERGY PROGRESS