v2.4.0.8
BUSINESS DIVESTITURES (Tables)
9 Months Ended
Sep. 30, 2013
BUSINESS DIVESTITURES  
Summary of results of the Brazilian fertilizer distribution business and the tax impact are reported in discontinued operations

 

 

 

Three Months Ended September 30,

 

(US$ in millions)

 

2013

 

2012

 

Net sales

 

$

149

 

$

750

 

Cost of goods sold

 

(139

)

 

(734

)

Gross profit

 

10

 

16

 

Selling, general and administrative expenses

 

(14

)

(19

)

Interest income

 

8

 

8

 

Interest expense

 

 

(9

)

Foreign exchange gain (loss)

 

(13

)

5

 

Other income (expenses)—net

 

1

 

 

Gain on sale of Brazilian fertilizer business

 

148

 

 

Income (loss) from discontinued operations before income tax

 

140

 

1

 

Income tax (expense) benefit

 

(37

)

1

 

Income (loss) from discontinued operations, net of tax

 

$

103

 

$

2

 

 

 

 

Nine Months Ended September 30,

 

(US$ in millions)

 

2013

 

2012

 

Net sales

 

$

1,217

 

$

1,878

 

Cost of goods sold

 

(1,141

)

(1,861

)

Gross profit

 

76

 

17

 

Selling, general and administrative expenses

 

(58

)

(68

)

Interest income

 

14

 

17

 

Interest expense

 

(9

)

(16

)

Foreign exchange gain (loss)

 

(14

)

18

 

Other income (expenses)—net

 

(12

)

(36

)

Gain on sale of Brazilian fertilizer business

 

148

 

 

Income (loss) from discontinued operations before income tax

 

145

 

(68

)

Income tax (expense) benefit

 

(51

)

35

 

Income (loss) from discontinued operations, net of tax

 

$

94

 

$

(33

)

Schedule of assets and liabilities classified as held for sale related to the fertilizer divestiture in the condensed consolidated balance sheet

 

 

 

December 31,

 

(US$ in millions)

 

2012

 

Assets:

 

 

 

Cash and cash equivalents

 

$

2

 

Trade accounts receivable (less allowance of $2)

 

189

 

Inventories

 

402

 

Other current assets

 

67

 

Current assets held for sale

 

$

660

 

Property, plant and equipment, net

 

$

218

 

Deferred income taxes

 

40

 

Other non-current assets

 

(8

)

Non-current assets held for sale

 

$

250

 

 

 

 

 

Liabilities:

 

 

 

Trade accounts payable

 

$

157

 

Other current liabilities

 

140

 

Current liabilities held for sale

 

$

297

 

Other non-current liabilities

 

13

 

Non-current liabilities held for sale

 

$

13