Hormel Foods 2013 Annual Report Download - page 61

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59
Revenues from external customers are classified as domestic
or foreign based on the final customer destination where
title passes. No individual foreign country is material to the
consolidated results. Additionally, the Company’s long-lived
assets located in foreign countries are not significant. Total
revenues attributed to the U.S. and all foreign countries in
total for the last three fiscal years are as follows:
Fiscal Year Ended
October 27, October 28, October 30,
(in thousands) 2013 2012 2011
United States $ 8,193,730 $ 7,739,826 $ 7,431,798
Foreign 557,924 490,844 463,291
$ 8,751,654 $ 8,230,670 $ 7,895,089
In fiscal 2013, sales to Wal-Mart Stores, Inc. (Wal-Mart)
represented $1.33 billion or 13.9 percent of the Company’s
consolidated revenues (measured as gross sales less returns
and allowances). Wal-Mart is a customer for all five segments
of the Company.
NOTE P
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following tabulations reflect the unaudited quarterly results of operations for the years ended October 27, 2013, and
October 28, 2012.
Net Earnings
Attributable to Basic Diluted
Gross Net Hormel Foods Earnings Earnings
(in thousands, except per share data) Net Sales Profit Earnings Corporation(1) Per Share(2) Per Share(2)
2013
First quarter $ 2,116,241 $ 344,193 $ 131,045 $ 129,716 $ 0.49 $ 0.48
Second quarter 2,152,686 352,801 126,641 125,520 0.47 0.46
Third quarter 2,159,525 330,306 113,905 113,635 0.43 0.42
Fourth quarter 2,323,202 385,516 158,485 157,340 0.60 0.58
2012
First quarter $ 2,039,439 $ 337,409 $ 129,333 $ 128,395 $ 0.49 $ 0.48
Second quarter 2,012,859 335,607 128,935 127,887 0.49 0.48
Third quarter 2,008,188 307,056 112,407 111,167 0.42 0.41
Fourth quarter 2,170,184 351,779 134,286 132,601 0.50 0.49
(1) Excludes net earnings attributable to the Company’s noncontrolling interests.
(2) Quarterly amounts are independently computed and may not add to the annual amounts.