XML 80 R20.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Segment Information | 9 Months Ended
--- | ---
Mar. 31, 2012
Segment Information |
Segment Information |
Note 14. | Segment Information
The Company is principally engaged in procuring, transporting, storing, processing, and merchandising agricultural commodities and products. The Company's operations are organized, managed, and classified into three reportable business segments: Oilseeds Processing, Corn Processing, and Agricultural Services. Each of these segments is organized based upon the nature of products and services offered. The Company's remaining operations, which include wheat processing, cocoa processing, and its financial business units, are not reportable segments, as defined by ASC Topic 280, Segment Reporting, and are classified as Other. In March 2012, the Company announced a management reorganization to streamline the business unit reporting structure and broaden spans of control. Segment financial reporting under the new structure will begin in April 2012 when the management transition is expected to be completed. Starting with the Company's annual report on Form 10-K for the fiscal year ending June 30, 2012, the Oilseeds Processing reportable segment will include cocoa processing operations while the Agricultural Services reportable segment will include wheat processing operations. The Corn Processing reportable segment which includes sweeteners and starches and bioproducts will remain unchanged. The Company's remaining operations will continue to be classified as Other. Intersegment sales have been recorded at amounts approximating market. Operating profit for each segment is based on net sales less identifiable operating expenses (including an interest charge related to working capital usage). Also included in segment operating profit is equity in earnings of affiliates based on the equity method of accounting. Certain Corporate items are not allocated to the Company's reportable business segments. Corporate results principally include the impact of LIFO-related inventory adjustments, unallocated corporate expenses, and unallocated net interest costs. Prior to January 1, 2012, Corporate results also included the after-tax elimination of income attributable to mandatorily redeemable interests in consolidated subsidiaries. Prior year sales to external customers by segment and intersegment sales have been reclassified to conform to the current year's presentation resulting in reclassified net sales at the segment level with no impact to total net sales or operating profit by segment. For detailed information regarding the Company's reportable segments, see Note 16 to the consolidated financial statements included in the Company's annual report on Form 10-K for the year ended June 30, 2011.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, |  |  | March 31, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
|  | (In millions) |
Sales to external customers |  |  |  |  |  |  |  |  |  |  |  |
Oilseeds Processing |  | $ | 7,044 |  |  | $ | 6,156 |  |  | $ | 22,883 |  |  | $ | 18,095 |
Corn Processing |  |  | 2,835 |  |  |  | 2,463 |  |  |  | 9,286 |  |  |  | 7,067 |
Agricultural Services |  |  | 9,825 |  |  |  | 9,876 |  |  |  | 29,525 |  |  |  | 27,967 |
Other |  |  | 1,451 |  |  |  | 1,582 |  |  |  | 4,669 |  |  |  | 4,677 |
Total |  | $ | 21,155 |  |  | $ | 20,077 |  |  | $ | 66,363 |  |  | $ | 57,806 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oilseeds Processing |  | $ | 571 |  |  | $ | 517 |  |  | $ | 1,292 |  |  | $ | 1,311 |
Corn Processing |  |  | 33 |  |  |  | 59 |  |  |  | 146 |  |  |  | 135 |
Agricultural Services |  |  | 1,107 |  |  |  | 1,179 |  |  |  | 3,224 |  |  |  | 2,750 |
Other |  |  | 39 |  |  |  | 38 |  |  |  | 118 |  |  |  | 112 |
Total |  | $ | 1,750 |  |  | $ | 1,793 |  |  | $ | 4,780 |  |  | $ | 4,308 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oilseeds Processing |  | $ | 7,615 |  |  | $ | 6,673 |  |  | $ | 24,175 |  |  | $ | 19,406 |
Corn Processing |  |  | 2,868 |  |  |  | 2,522 |  |  |  | 9,432 |  |  |  | 7,202 |
Agricultural Services |  |  | 10,932 |  |  |  | 11,055 |  |  |  | 32,749 |  |  |  | 30,717 |
Other |  |  | 1,490 |  |  |  | 1,620 |  |  |  | 4,787 |  |  |  | 4,789 |
Intersegment elimination |  |  | (1,750 | ) |  |  | (1,793 | ) |  |  | (4,780 | ) |  |  | (4,308 | )
Total |  | $ | 21,155 |  |  | $ | 20,077 |  |  | $ | 66,363 |  |  | $ | 57,806 |
Segment operating profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oilseeds Processing |  | $ | 395 |  |  | $ | 512 |  |  | $ | 869 |  |  | $ | 1,145 |
Corn Processing |  |  | 130 |  |  |  | 204 |  |  |  | 176 |  |  |  | 944 |
Agricultural Services |  |  | 179 |  |  |  | 171 |  |  |  | 581 |  |  |  | 729 |
Other |  |  | 183 |  |  |  | 119 |  |  |  | 269 |  |  |  | 315 |
Total segment operating profit |  |  | 887 |  |  |  | 1,006 |  |  |  | 1,895 |  |  |  | 3,133 |
Corporate |  |  | (319 | ) |  |  | (215 | ) |  |  | (546 | ) |  |  | (882 | )
Earnings before income taxes |  | $ | 568 |  |  | $ | 791 |  |  | $ | 1,349 |  |  | $ | 2,251 |

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration