DuPont 2012 Annual Report Download - page 23

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 continued
(Dollars in millions)   
 $ 2,493 $ 3,155 $2,745
Income from continuing operations after income taxes for 2012 was $2.5 billion compared to $3.2 billion in 2011 and $2.7 billion in 2010. The changes
between periods were due to the reasons noted above.
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The company expects 2013 sales and earnings to benefit from modest growth in global gross domestic product and industrial production. The company’s
market position and financial results will continue to be enhanced by market-driven innovation and productivity. Raw material, energy and freight costs are
expected to increase, principally due to higher seed input costs and titanium ore. Currency impact for the full-year 2013 versus 2012 is expected to be flat. The
company expects a dynamic market environment, including strong Agriculture demand and significant headwinds related to the cyclical nature of the titanium
dioxide industry affecting the Performance Chemicals segment.
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Segment sales include transfers to another business segment. Products are transferred between segments on a basis intended to reflect, as nearly as practicable,
the market value of the products. Segment pre-tax operating income (loss) (PTOI) is defined as income (loss) from continuing operations before income taxes
excluding exchange gains (losses), corporate expenses and interest. All references to prices are on a U.S. dollar (USD) basis, including the impact of currency.
A reconciliation of segment sales to consolidated net sales and segment PTOI to income from continuing operations before income taxes for 2012, 2011 and
2010 is included in Note 22 to the Consolidated Financial Statements.
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(Dollars in millions)   
 $ 10,426 $ 9,166 $7,845
 $1,594 $1,527 $1,293
 15%17%16%
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
Price 6%6%
Volume 8%10%
Portfolio / Other —%1%
Total change 14%17%
2012 versus 2011 Pioneer seed sales reflect growth primarily in corn and soybean seeds. Volume increases in all regions reflect increased planted area.
Global pricing gains reflect continued penetration of new genetics and trait packages, including the Optimum ® AcreMax® Family of integrated and reduced
refuge corn hybrids and Optimum® AQUAmaxTM products for improved drought tolerance. Crop Protection sales grew in all regions reflecting volume and
price gains from herbicides, insect control products and fungicides, particularly continued strong demand for Rynaxypyr ® insect control products.
2012 PTOI increased as strong sales and a $117 million gain on the sale of a business more than offset $575 million of charges related to Imprelis ®, higher
input costs in seeds, unfavorable currency and higher investments in commercial and R&D activities to support growth. 2012 PTOI margin decreased due to
increased charges related to Imprelis®. See Note 16 to the Consolidated Financial Statements for more information related to the Imprelis ® matter.
2011 versus 2010 Pioneer seed sales reflect growth primarily in corn and soybean seeds. Volume increases in all regions reflect increased planted area and
market position. Pricing gains in all regions reflect the introduction and penetration of new products including Optimum ® AcreMax® 1 into the North America
corn lineup. Crop Protection sales growth reflects both volume and price gains with increases in insect control, weed control and fungicides product sales,
particularly continued strong demand for
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