Archer Daniels Midland 2013 Annual Report Download

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Chairman’s
LETTER
Proxy
STATEMENT
Form
10K
ARCHER DANIELS MIDLAND COMPANY
2013

Table of contents

  • Page 1
    ARCHER DANIELS MIDLAND COMPANY 2013 Chairman's LETTER Proxy STATEMENT Form 10-K

  • Page 2
    ... and volume records. Corn Processing results were highlighted by the work our ethanol team has done to improve a business that was not meeting our expectations for returns. That work-which included implementing cost-management projects, enhancing risk management and reducing inventories-positioned...

  • Page 3
    ... with our plan to increase the size of our South American barge fleet-will build ADM's competitive position in an increasingly important growing and exporting region. In Europe, we are capitalizing on synergies and complementary operations between ADM and Alfred C. Toepfer International, in which...

  • Page 4
    ...operations at our new biodiesel plant in Lloydminster, Alberta, and opened an intermodal container ramp in Decatur, Illinois. With direct access to three Class I railroads and close proximity to four interstate highways, the intermodal ramp enables ADM to lower our own transportation costs and offer...

  • Page 5
    ... markets, our work and our opportunities are increasingly global. That awareness is reflected in our decision to establish a new global headquarters and customer center. Located in Chicago, the new global center will make it easier for us to meet and work with customers, business partners, investors...

  • Page 6
    Proxy STATEMENT ARCHER DANIELS MIDLAND COMPANY 2013

  • Page 7
    ...-MIDLAND COMPANY 4666 Faries Parkway, Decatur, Illinois 62526-5666 NOTICE OF ANNUAL MEETING To All Stockholders: NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders of Archer-Daniels-Midland Company, a Delaware corporation, will be held at the JAMES R. RANDALL RESEARCH CENTER located...

  • Page 8
    ARCHER-DANIELS-MIDLAND COMPANY 4666 Faries Parkway, Decatur, Illinois 62526-5666 March 21, 2014 PROXY STATEMENT General Matters Our board of directors asks that you complete the accompanying proxy for the annual stockholders' meeting. The meeting will be held at the time, place, and location ...

  • Page 9
    ... stock shares: Name and Address of Beneficial Owner Amount Percent of Class State Farm Mutual Automobile Insurance Company ...and related entities One State Farm Plaza Bloomington, IL 61710 The Vanguard Group ...100 Vanguard Blvd. Malvern, PA 19355 BlackRock, Inc...40 East 52nd Street New York...

  • Page 10
    ... by the Nominating/Corporate Governance Committee after it had completed its interview and vetting process. If elected, the nominees would hold office until the next annual stockholders' meeting and until their successors are elected and qualified. If any nominee for director becomes unable to...

  • Page 11
    ... Officer and Vegetable Business Chief Executive Officer of Monsanto Company (an agricultural company) from September, 2007 - November, 2009; Executive Vice President and Chief Financial Officer of Monsanto Company from 2000 - 2007; Director of Rock-Tenn Company and Hormel Foods Corporation; Director...

  • Page 12
    ... March, 2010 - November, 2013; Senior Advisor, U.S. Department of Commerce from May, 2009 - March, 2010. Daniel Shih, 62 ...Deputy Chairman, Executive Director and Chief Strategy Officer of Stella International Holdings Limited (a developer and manufacturer of footwear) from May, 2008 - August, 2013...

  • Page 13
    ... service as a director of Premium Standard Farms, Inc., and her significant experience in the agricultural sector. Terrell K. Crews Mr. Crews retired from Monsanto Company in November 2009. He served as Executive Vice President, Chief Financial Officer and Vegetable Business CEO for Monsanto Company...

  • Page 14
    ... directors with his expertise in mergers and acquisitions, environmental matters, corporate governance, strategic planning, engineering, finance, human resources, compliance, risk management, international business and public affairs. Antonio Maciel Neto Mr. Maciel was named Chief Executive Officer...

  • Page 15
    ... range of executive roles at Chevron Corporation and its predecessor companies, Ms. Woertz brings to the board of directors of our company a significant amount of leadership, strategy development, risk management, mergers and acquisitions, international business, marketing, finance and technology...

  • Page 16
    ... 16(a) Beneficial Ownership Reporting Compliance Section 16(a) of the Securities Exchange Act of 1934 (the "Exchange Act") requires our directors and executive officers to file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the SEC. Based on our review of Forms 3, 4 and...

  • Page 17
    ... Salary Executive P. A. Woertz ...J. R. Luciano ...R. G. Young ...D. C. Findlay ...C. E. Huss(1) ... 5x 3x 3x 3x 1.5x (1) Mr. Huss retired as an executive officer and employee of our company effective December 31, 2013 and is no longer subject to the stock ownership guideline. Executive Officer...

  • Page 18
    ...; (5) is not an officer of a company of which our Chairman or Chief Executive Officer is also a board member; (6) is not personally receiving compensation from us in any capacity other than as a director; and (7) does not personally receive or is not an employee of a foundation, university, or other...

  • Page 19
    ... site, www.adm.com, and are available free of charge on written request to the Secretary, Archer-Daniels-Midland Company, 4666 Faries Parkway, Decatur, Illinois 62526-5666. Executive Sessions In accordance with our corporate governance guidelines, the non-management directors meet in executive...

  • Page 20
    .... All director nominees standing for election at our last annual stockholders' meeting held on May 2, 2013, attended that meeting. Information Concerning Committees and Meetings The board's standing committees are the Audit, Compensation/Succession, Nominating/Corporate Governance, and Executive...

  • Page 21
    ...make recommendations to the committee regarding compensation for officers other than the Chief Executive Officer. In determining the Chief Executive Officer's compensation, the committee considers the evaluation prepared by the non-management directors. In accordance with the General Corporation Law...

  • Page 22
    ... send communications to individual directors or the non-employee directors as a group. You should send any such communications in writing addressed to the applicable director or directors in care of the Secretary, Archer-Daniels-Midland Company, 4666 Faries Parkway, Decatur, Illinois 62526-5666. All...

  • Page 23
    ... Senior Vice President, General Counsel & Secretary Senior Vice President and Chief Risk Officer ("CRO") How Pay is Tied to Company Performance The company's business objectives are the foundation for our compensation programs. We believe, and our compensation programs support, that as an employee...

  • Page 24
    ... multiplier"). For 2013 performance, the Compensation/Succession Committee elected to award the CEO, COO and CFO the same individual multiplier (1.05) in recognition of their collective efforts as an executive management team and their contribution to the company's success. The Compensation/ 17

  • Page 25
    ... fluctuations in reported total direct compensation (salary, annual bonus and long-term incentives) levels that we consider related to the company's change in fiscal year end for a hypothetical individual whose base salary, annual cash incentive and grant date fair value of LTI equity awards would...

  • Page 26
    ... Table in terms of a "grant date fair value" estimated at the time an award is granted, but which is valued for purposes of realizable pay at a specific point in time based on the actual market price of the company's stock. • NEO awarded total direct compensation has declined during the past three...

  • Page 27
    ... of prior awards for a broad range of reasons for all employees; A Compensation/Succession Committee comprised solely of independent directors; A regular review of stockholder advisory groups' guidelines and policies, including regular dialogue with these groups, to ensure executive pay programs...

  • Page 28
    ...requires executives and directors to review any pledging of Company securities with the Company's General Counsel prior to engaging in such activity; and that prohibits pledging by executives and directors who have not met stock ownership guidelines. • • • Oversight of Executive Compensation...

  • Page 29
    ...Senior Vice President of Human Resources involves other members of management in portions of the Compensation/ Succession Committee meetings to participate in discussions related to company and individual performance and the company's compensation and benefit programs. The company's executives leave...

  • Page 30
    ... a composite view of the competitive market in which the company competes for executive talent. In addition to the market data points gathered through this analysis, the Compensation/Succession Committee considers individual and corporate performance, roles and responsibilities, growth potential and...

  • Page 31
    ... Reflect The Company's Results. The company's executive compensation program emphasizes variable, performance-based pay and is targeted and assessed in the aggregate, although the Compensation/Succession Committee reviews each component independently as well. Base salary is reviewed annually and...

  • Page 32
    ..., operational and financial goals Create current and future alignment with stockholders Characteristics • Reviewed annually and set based on competitiveness versus the external market, individual performance and internal equity Performance-based award opportunity that varies based on company and...

  • Page 33
    ... pay for executives with more significant responsibilities, reflecting their greater capacity to affect the company's performance and results. The charts below present the mix of actual total direct compensation received for CY20132. Base Salary CY2013 Actual Cash Incentive P.A. Woertz CY2013...

  • Page 34
    .... Findlay a "base" level long-term incentive award with a grant date value of $2,100,000 in 2014 At the time of his hire, we awarded Mr. Findlay equity awards to compensate him for his forfeiture of equity awards at his previous employer, designed to retain his services into the future, and to align...

  • Page 35
    ... contribution to the company's success. How is the Individual Performance Multiplier Determined? For CY2013, the Compensation/Succession Committee elected to award the CEO, COO and CFO the same individual multiplier of 1.05 in recognition of their collective efforts as an executive management team...

  • Page 36
    ..., competitive grants are only provided if the company's TSR is at or above median of the applicable market comparisons reviewed by the Compensation/Succession Committee. The Compensation/ Succession Committee may grant "base" awards to maintain the appropriate alignment between management and...

  • Page 37
    ... conditions of the company's equity awards granted in February 2013 generally are as follows: • Stock options are granted at an exercise price equal to fair market value of the company's common stock at the grant date in accordance with the 2009 Incentive Compensation Plan. The options typically...

  • Page 38
    ...benefits to all U.S. salaried employees as is offered to the company's NEOs. Retirement Program Eligibility Description 401(k) Plan/ Employee Stock Ownership Plan All salaried employees Qualified defined contribution plan where employees may defer up to 75% of eligible pay, up to $17,500 for 2013...

  • Page 39
    ... company common stock) available under the 401(k) Plan/ Employee Stock Ownership Plan. Non-qualified deferred compensation plan that ensures participants in the Retirement Plan receive an aggregate retirement benefit that would have been received if not for certain limitations under applicable tax...

  • Page 40
    ... of President and Chief Executive Officer in the context of the competitive marketplace and the greater responsibilities of the President and Chief Executive Officer relative to other Company executives. Under Ms. Woertz's employment agreement, she is provided benefits upon termination without...

  • Page 41
    ... other officers and employees must be pre-cleared by the company's law department. What Role Does Section 162(m) of the Internal Revenue Code Have in the Design of Executive Compensation Programs? Section 162(m) of the Internal Revenue Code generally disallows a tax deduction to public corporations...

  • Page 42
    ... of earnings. The detailed findings of this review were discussed with management and presented to the Compensation/ Succession Committee in November 2013. How Does the Company Address Liabilities Associated With Retirement Programs? The Compensation/Succession Committee is mindful that the non...

  • Page 43
    ... a named executive officer in 2013 and retired as an executive officer and employee of the company effective December 31, 2013. (3) The amounts shown for stock and option awards represent the aggregate grant date fair value of the awards for fiscal years 2013, 2012.5, 2012, and 2011, respectively...

  • Page 44
    ...of Employment, other benefits and perquisites comparable to those received by her predecessor as Chief Executive Officer or, if more favorable, other ADM senior officers. Provisions of Ms. Woertz's Terms of Employment relating to termination of her employment and change-in-control of our company are...

  • Page 45
    ... using the closing market price of a share of our common stock on the New York Stock Exchange on the trading day immediately prior to the grant date. (3) The grant date fair value is generally the amount the company would expense in its financial statements over the award's service period under FASB...

  • Page 46
    ...recipient must pay us the amount of the shares' fair market value as of the date the units vested. The impact of a termination of employment or change-in-control of our company on restricted stock unit, performance share unit and stock option awards held by our named executive officers is quantified...

  • Page 47
    ...market price of a share of our common stock on the New York Stock Exchange on December 31, 2013, which was $43.40, by the number of shares or units that have not vested. (2) Stock options vest at the rate of 20% of the initial grant per year, with remaining vesting dates on February 21 of 2014, 2015...

  • Page 48
    ...calculated using the average of the high and low sale prices reported on the New York Stock Exchange on the vesting date. Pension Benefits The following table summarizes information regarding the participation of each of the named executive officers in our defined benefit retirement plans as of the...

  • Page 49
    ... as of December 31, 2013 is $2,897,382. Qualified Retirement Plan We sponsor the ADM Retirement Plan (the "Retirement Plan"), which is a qualified defined benefit plan under Section 401(a) of the Internal Revenue Code. The Retirement Plan covers eligible salaried employees of our company and its...

  • Page 50
    ... Chief Executive Officer. The Supplemental Plan provides the additional benefit that would have been provided under the Retirement Plan but for the limits of Section 415 or 401(a)(17) of the Internal Revenue Code, and but for the fact that elective contributions made by the participant under the ADM...

  • Page 51
    ...election to defer under the Deferred Comp Plan II causes a loss of company contributions under the 401(k) and Employee Stock Ownership Plan. No "make-whole" company credits were made on behalf of the named executive officers for Fiscal Year 2013. A participant with an account balance remaining under...

  • Page 52
    ... of two to twenty years if termination of employment occurs after retirement eligibility or due to disability. Deferred Comp Plan I balances are fully-vested. A participant becomes vested in his or her company credits to Deferred Comp Plan II after two years of service. Unpaid amounts at death are...

  • Page 53
    ... compensation plans. The individual agreements we have with Ms. Woertz and Mr. Huss related to termination of employment or change-in-control of our company are discussed below. Under the terms of our time-vested restricted stock award agreements governing awards held by our named executive officers...

  • Page 54
    ... returned to us or the recipient must pay us the amount of the shares' fair market value as of the date the units vested. The amount of compensation payable to each named executive officer in various termination and change-incontrol scenarios is listed in the tables below. Unless otherwise indicated...

  • Page 55
    ... Woertz The following table lists the potential payments and benefits upon termination of employment or change-incontrol of our company for Ms. Woertz, our Chairman and Chief Executive Officer. We entered into Terms of Employment with Ms. Woertz when she joined our company. The payments and benefits...

  • Page 56
    ...coverage under the company's benefit plans, two years of accelerated vesting of equity awards, and two years' credit with respect to age, service and covered compensation for purposes of calculating pension benefits. Ms. Woertz's Terms of Employment generally provide that a termination is for "cause...

  • Page 57
    ... Young, and D. C. Findlay The following table lists the potential payments and benefits upon termination of employment or change in control of our company for our named executive officers (other than P. A. Woertz) whose service as an executive officer continued past December 31, 2013. These payments...

  • Page 58
    ...'s company car and certain communications equipment which was transferred to him upon his retirement. Director Compensation for Fiscal Year 2013 Our standard compensation for non-employee directors consists of an annual retainer of $250,000, one-half of which must be paid in stock units pursuant...

  • Page 59
    ...company's common stock on the last business day of the quarter. For purposes of this plan, the "fair market value" of a share of our common stock on any date is the average of the high and low reported sales prices for our stock on the New York Stock Exchange on that date. The fair value of services...

  • Page 60
    ... 31, 2013. The ADM International Limited SavingsRelated Share Option Scheme is a program whereby employees in the United Kingdom can save through payroll deductions and have the option to purchase shares at a predetermined, discounted price at a point in time in the future. The number of shares...

  • Page 61
    ...Company's financial reporting. The Audit Committee met individually with members of management in executive session. The Audit Committee held nine meetings during fiscal year 2013. In reliance on the reviews and discussions referred to above, the Audit Committee recommended to the Board of Directors...

  • Page 62
    ...last fiscal year and their immediate family members. Although the company's processes vary with the particular transaction or relationship, in accordance with our Code of Conduct, directors, executive officers and other company employees are directed to inform appropriate supervisory personnel as to...

  • Page 63
    ... quarterly financial statements, audit of the effectiveness of our company's internal control over financial reporting, certain statutory audits, and SEC filings. (2) Includes fees for accounting and reporting assistance and audit-related work in connection with employee benefit plans of our company...

  • Page 64
    ...the United Kingdom and many international markets. This proposal topic won 50%-plus support at 5 major U.S. companies in 2013 including 73%-support at Netflix. This proposal should also be more favorably evaluated due to our Company's clearly improvable environmental, social and corporate governance...

  • Page 65
    ... the New York Stock Exchange; the Board's Audit Committee, Compensation/Succession Committee, and Nominating/Corporate Governance Committee are composed solely of independent directors; non-management directors meet privately in executive session presided over by the Lead Director at least quarterly...

  • Page 66
    ...next annual meeting and desired to be included in our proxy statement for that meeting must be received by the Secretary, Archer-Daniels-Midland Company, 4666 Faries Parkway, Decatur, Illinois 62526-5666, no later than November 21, 2014, in order to be included in such proxy statement. Generally, if...

  • Page 67
    ... average of quarter-end amounts for the trailing four quarters, with each such quarter-end amount being equal to the sum of the Company's equity (excluding non-controlling interests), interest-bearing liabilities, the after-tax effect of the LIFO reserve, and other specified items. Management uses...

  • Page 68
    ...(3) Mar 31, 2013 Shareholders' Equity(1) ...+ Interest-bearing liabilities(2) ...+ LIFO adjustment (net of tax) ...+ Other specified items ...Invested Capital ...FCPA Charge, net of tax ...Total Adjusted Invested Capital ...(1) Excludes (2) Includes Quarter Ended Jun 30, 2013 Sep 30, 2013 $ 223 107...

  • Page 69
    Form 10-K ARCHER DANIELS MIDLAND COMPANY 2013

  • Page 70
    ...December 31, 2013 Commission file number 1-44 ARCHER-DANIELS-MIDLAND COMPANY (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 4666 Faries Parkway Box 1470 Decatur, Illinois (Address of principal executive offices) 217-424...

  • Page 71
    ... sale price of Common Stock as reported on the New York Stock Exchange as of June 30, 2013) Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Common Stock, no par value-658,371,076 shares (January 31, 2014) DOCUMENTS...

  • Page 72
    ... About Market Risk Financial Statements and Supplementary Data Changes in and Disagreements With Accountants on Accounting and Financial Disclosure Controls and Procedures Other Information Part III 10. 11. 12. 13. 14. Directors, Executive Officers and Corporate Governance Executive Compensation...

  • Page 73
    ... 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 are not reportable business segments, as defined by the applicable accounting...

  • Page 74
    ... in Argentina. The Company began consolidating the operating results of Golden Peanut in the third quarter of fiscal 2011. Stratas Foods LLC, a joint venture between the Company and ACH Jupiter, LLC, a subsidiary of Associated British Foods, procures, packages, and sells edible oils in North America...

  • Page 75
    ... 2012, the Company sold its 23.2% interest in Gruma and the Gruma-related joint ventures. Other Other includes the Company's remaining operations, primarily its financial business units, related principally to futures commission merchant activities and captive insurance. ADM Investor Services...

  • Page 76
    ..., plantings, government programs and policies, competition, changes in global demand, changes in standards of living, and global production of similar and competitive crops. The Company's raw materials are procured from thousands of growers, grain elevators, and wholesale merchants in North America...

  • Page 77
    ..., and industrial products from renewable agricultural crops. Research and development expense during the years ended December 31, 2013 and 2012, the six months ended December 31, 2012 and 2011, and the years ended June 30, 2012 and 2011, net of reimbursements of government grants, was approximately...

  • Page 78
    ...1. BUSINESS (Continued) Available Information The Company's internet address is http://www.adm.com. The Company makes available, free of charge, through its website, the Company's annual reports on Form 10-K; quarterly reports on Form 10-Q; current reports on Form 8-K; Directors and Officers Forms...

  • Page 79
    ... policies related to genetically modified organisms, renewable fuel, and low carbon fuel mandates, can influence the planting of certain crops, the location and size of crop production, whether unprocessed or processed commodity products are traded, the volume and types of imports and exports, the...

  • Page 80
    ... of its core model, and expanding its value-added product portfolio. Government policies, including anti-trust and competition law, trade restrictions, food safety regulations, and other government regulations and mandates, can impact the Company's ability to execute this strategy successfully. The...

  • Page 81
    ... access to credit markets from time to time, to operate its current business and fund its growth strategy. The Company's working capital requirements, including margin requirements on open positions on futures exchanges, are directly affected by the price of agricultural commodities, which may...

  • Page 82
    ... products, inventory management, shipping products to customers, processing transactions, summarizing and reporting results of operations, human resources benefits and payroll management, complying with regulatory, legal or tax requirements, and other processes necessary to manage the business...

  • Page 83
    ...- 1 1 3 - Asia 2 - 2 2 - - - - - 2 2 Total - 1 - 1 1 1 - 2 1 3 2 - - - - - 5 2 *The U.S. plants are located in Alabama, Georgia, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, and Wisconsin. 14

  • Page 84
    ... capacity Metric tons (in 1,000's) 9 5 14 338 - 10 34 28 1 73 2,233 1 5 3 9 355 96 2,926 Total - - - - - 9 4 7 6 26 548 - - - - - 2 2 16 - 2 2 1 30 565 *The U.S. procurement facilities are located in Alabama, Florida, Georgia, Illinois, Michigan, Mississippi, North Carolina, Oklahoma, South...

  • Page 85
    ... 16 70 1 1 4 17 74 - 1 5 - - 6 373 - - - 6 373 Other 5 2 - - 1 8 5 1 1 4 9 9 Total North America Illinois Iowa Minnesota Nebraska North Carolina Total Daily/Storage capacity Metric tons (in 1,000's) South America Brazil Total Daily/Storage capacity Metric tons (in 1,000's) Grand Total Total daily...

  • Page 86
    ... Total Total daily capacity Metric tons (in 1,000's) 2 2 2 2 2 *The U.S. plants are located in California, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania...

  • Page 87
    ... located in Arkansas, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Montana, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Wisconsin, and Wyoming. Item 3. LEGAL PROCEEDINGS The Company is routinely involved in a number...

  • Page 88
    ... of Illinois. Alfred C. Toepfer International G.m.b.H. has also agreed to pay a fine of $1 million to German authorities in connection with this matter which is included in the Company's selling, general, and administrative expenses for the year ended December 31, 2013. On April 22, 2011, certain...

  • Page 89
    ...as reported on the New York Stock Exchange and common stock cash dividends declared per share. Cash Dividends Per Share $ 0.190 0.190 0.190 0.190 0.175 0.175 0.175 0.175 0.175 0.160 Market Price High Low Fiscal Year 2013-Quarter Ended December 31 September 30 June 30 March 31 Transition Period 2012...

  • Page 90
    ... of $100 on June 30, 2008 and assumes all dividends have been reinvested through December 31, 2013. COMPARISON OF 66 MONTH CUMULATIVE TOTAL RETURN Among Archer Daniels Midland Company (ADM), the S&P 500 Index, and the S&P Consumer Staples Copyright© 2013 S&P, a division of The McGraw-Hill...

  • Page 91
    ...224 0.335 12,395 1.8 12,415 9,601 1,058 41,701 6,762 18,165 27.44 669 670 Fiscal Years Ended June 30 2011 2010 2012 2009 $ 89,804 Revenues 827 Depreciation Net earnings attributable to 1,342 controlling interests Basic earnings per 2.03 common share Diluted earnings per 2.02 common share 501 Cash...

  • Page 92
    ... program and exit of the Walhalla, ND ethanol facility, a gain of $62 million ($49 million after tax, equal to $0.07 per share) related to the Company's interest in GrainCorp, a gain of $39 million ($24 million after tax, $0.04 per share) related to the sale of certain of the Company's exchange...

  • Page 93
    ... 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 are not reportable segments, as defined by the applicable accounting...

  • Page 94
    ... merchant of agricultural commodities and processed products. The Agricultural Services segment also includes the Company's share of the results of its Kalama Export Company LLC joint venture and returns associated with the Company's investment in GrainCorp. Prior to December 2012, the Company had...

  • Page 95
    ... reports for the quarters' ended March 31, 2012, June 30, 2012, September 30, 2012, and December 31, 2012. As an agricultural commodity-based business, the Company is subject to a variety of market factors which affect the Company's operating results. Demand for global protein meal and vegetable oil...

  • Page 96
    ... OF OPERATIONS (Continued) Analysis of Statements of Earnings Revenues by segment for the years ended December 31, 2013 and 2012 are as follows: (In millions) 2013 2012 (Unaudited) Oilseeds Processing Crushing and Origination Refining, Packaging, Biodiesel, and Other Cocoa and Other Asia Total...

  • Page 97
    ... of the Company's equity method investment in Gruma and the Gruma-related joint ventures, charges of $71 million for severance and benefits related to the global workforce reduction, $14 million of charges for facility exit and other related costs primarily for the Walhalla, ND corn plant shutdown...

  • Page 98
    ... Total Corn Processing Agricultural Services Merchandising and Handling Milling and Other Transportation Total Agricultural Services Other Financial Total Other Total Segment Operating Profit Corporate Earnings Before Income Taxes Corporate results are as follows: (In millions) 2013 2012 (Unaudited...

  • Page 99
    ... the Agricultural Services segment and the absence of prior year gains from the sale of member exchange interests by the Company's futures commission brokerage business. Corporate was a loss of $684 million in 2013 compared to a loss of $787 million in 2012. The effects of changing commodity prices...

  • Page 100
    ... lower results in the 2012 period in Corn Processing's bioproducts business of $408 million, excluding the Clinton, IA asset impairment charge discussed above, and the 2012 period loss of $146 million in the Agricultural Services segment related to the disposal of Gruma. Corporate expenses were $27...

  • Page 101
    ... ethanol trade flows resulted in continued excess industry ethanol capacity. From a supply perspective, following below-average harvests in the 2011/2012 crop year in North and South America, corn and soybean supplies were tight and commodity market prices were generally higher. In South America...

  • Page 102
    ... (Continued) Operating profit by segment and earnings before income taxes for the six months ended December 31, 2012 and 2011 are as follows: Six Months Ended December 31, (In millions) Oilseeds Processing Crushing and Origination Refining, Packaging, Biodiesel, and Other Cocoa and Other Asia Total...

  • Page 103
    ...unfavorable global ethanol trade flows resulted in continued excess industry capacity, keeping ethanol margins negative. Agricultural Services operating profit, including the 2012 period $146 million Gruma asset impairment charge and $62 million gain on the Company's interest in GrainCorp, decreased...

  • Page 104
    ... reportable segments. Segment operating profit in fiscal 2012 included $349 million of asset impairment charges and exit costs comprised of $335 million to exit the Company's Clinton, IA, bioplastics plant and $14 million to shut down its Walhalla, ND, ethanol dry mill. Earnings before income taxes...

  • Page 105
    ..., exit, and restructuring costs of $449 million were comprised of $349 million in the Corn Processing segment related to the Company's exit from its Clinton, IA, bioplastics business and ethanol dry mill in Walhalla, ND, $71 million in Corporate for the global workforce reduction, and $29 million in...

  • Page 106
    ...as follows: 2012 Oilseeds Processing Crushing and Origination Refining, Packaging, Biodiesel, and Other Cocoa and Other Asia Total Oilseeds Processing Corn Processing Sweeteners and Starches Bioproducts Total Corn Processing Agricultural Services Merchandising and Handling Transportation Milling and...

  • Page 107
    ... related to the Company's bioplastics business and Walhalla, ND, ethanol dry grind facility, Corn Processing operating profit of $610 million in fiscal 2012 represented a decline of $469 million compared to the prior year. Processed volumes were up 5 percent while net corn costs increased compared...

  • Page 108
    ... a commercial paper borrowing facility. In addition, the Company believes it has access to funds from public and private equity and debt capital markets in both U.S. and international markets. Cash provided by operating activities was $5.2 billion for 2013 compared to $2.3 billion in 2012. Working...

  • Page 109
    ... unrecognized income tax benefits of $66 million as of December 31, 2013 as the Company is unable to reasonably estimate the timing of settlement. Where applicable, information included in the Company's consolidated financial statements and notes is cross-referenced in this table. Payments Due by...

  • Page 110
    ... fee, market values for similar transactions and its cost of servicing the receivables sold. The Program terminates on June 28, 2014, unless extended. As of December 31, 2013, the fair value of trade receivables transferred to the Purchasers under the Program and derecognized from the Company...

  • Page 111
    ... the purchase price of the Company's anticipated natural gas requirements for certain production facilities, and to fix the sales price of anticipated volumes of ethanol. These designated hedging programs principally relate to the Company's Corn Processing operating segment. Assuming normal market...

  • Page 112
    ... valuation allowances, the Company's effective tax rate in a given financial statement period may be impacted. Undistributed earnings of the Company's foreign subsidiaries and the Company's share of the undistributed earnings of affiliated corporate joint venture companies accounted for on the...

  • Page 113
    ..., technology, and companies related to new, value-added products produced from agricultural commodities and products. These new products are not always successful from either a commercial production or marketing perspective. Management evaluates the Company's property, plant, and equipment for...

  • Page 114
    ... income, net of applicable taxes, and recognized as a component of cost of products sold or revenues in the statement of earnings when the hedged item is recognized. The Company's commodity position consists of merchandisable agricultural commodity inventories, related purchase and sales...

  • Page 115
    ... 10% adverse change in quoted foreign currency exchange rates is $751 million and $773 million for December 31, 2013 and 2012, 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...

  • Page 116
    ... SUPPLEMENTARY DATA Financial Statements Consolidated Statements of Earnings Consolidated Statements of Comprehensive Income (Loss) Consolidated Balance Sheets Consolidated Statements of Cash Flows Consolidated Statements of Shareholders' Equity Notes to Consolidated Financial Statements Reports of...

  • Page 117
    Archer-Daniels-Midland Company Consolidated Statements of Earnings Year Ended (In millions, except per share amounts) December 31 2013 Revenues Cost of products sold Gross Profit Selling, general and administrative expenses Asset impairment, exit, and restructuring costs Interest expense Equity in ...

  • Page 118
    Archer-Daniels-Midland Company Consolidated Statements of Comprehensive Income (Loss) Year Ended (In millions) December 31 2013 Net earnings including noncontrolling interests Other comprehensive income (loss): Foreign currency translation adjustment Tax effect Net of tax... June 30 2012 2011 1,242 (...

  • Page 119
    Archer-Daniels-Midland Company Consolidated Balance Sheets December 31, December 31, 2013 2012 (In millions) Assets Current Assets Cash and cash equivalents Short-term marketable securities Segregated cash and investments Trade receivables Inventories Other current assets Total Current Assets ...

  • Page 120
    ... impairment charges Deferred income taxes Equity in earnings of affiliates, net of dividends Stock compensation expense Pension and postretirement accruals (contributions), net Other - net Changes in operating assets and liabilities Segregated cash and investments Trade receivables Inventories Other...

  • Page 121
    ... 31, 2012 Comprehensive income Net earnings Other comprehensive income Total comprehensive income Cash dividends paid-$.76 per share Treasury stock purchases Stock compensation expense Noncontrolling interests associated with mandatorily redeemable instruments Other Balance December 31, 2013 639...

  • Page 122
    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. Change in ...

  • Page 123
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) Reclassifications Other (income) expense - net in the consolidated statements of earnings for the years ended December 31, 2012 and June 30, 2012 has ...

  • Page 124
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) Inventories Inventories of certain merchandisable agricultural commodities, which include inventories acquired under deferred pricing contracts, are ...

  • Page 125
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) The Company's policy regarding the timing of transfers between levels, including both transfers into and transfers out of Level 3, is to measure and ...

  • Page 126
    ... sales revenue once the price has been determined. Freight costs and handling charges related to sales are recorded as a component of cost of products sold. Net sales to unconsolidated affiliates during the years ended December 31, 2013 and 2012, the six months ended December 31, 2012 and 2011, and...

  • Page 127
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 1. Summary of Significant Accounting Policies (Continued) Stock Compensation The Company recognizes expense for its stock compensation based on the fair value of the awards that are granted. The Company's ...

  • Page 128
    ..., 2013, the Company acquired four businesses for a total cost of $44 million and recorded a preliminary allocation of the purchase price related to these acquisitions. The net cash purchase price for the acquisitions of $44 million was preliminarily allocated to working capital, property, plant, and...

  • Page 129
    ... of the purchase price related to these acquisitions. The net cash purchase price for these four acquisitions of $218 million plus the acquisition-date fair value of the equity interest the Company previously held in Golden Peanut was allocated to working capital, property, plant, and equipment...

  • Page 130
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Fair Value Measurements The following tables set forth, by level, the Company's assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2013 and 2012. Fair ...

  • Page 131
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Fair Value Measurements (Continued) Fair Value Measurements at December 31, 2012 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs (...

  • Page 132
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Fair Value Measurements (Continued) Derivative contracts include exchange-traded commodity futures and option contracts, forward commodity purchase and sale contracts, and OTC instruments related primarily...

  • Page 133
    ... at December 31, 2013 Commodity Inventories Derivative Carried at Contracts Market Gains Total (In millions) Balance, December 31, 2012 Total increase (decrease) in unrealized gains included in cost of products sold* Purchases Sales Settlements Transfers into Level 3 Transfers out of Level...

  • Page 134
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Fair Value Measurements (Continued) Level 3 Fair Value Assets Measurements at December 31, 2012 Commodity Inventories Derivative Carried at Contracts Market Gains Total (In millions) Balance, June 30, 2012 ...

  • Page 135
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 3. Fair Value Measurements (Continued) In some cases, the price components of inventories and commodity purchase and sale contracts are observable based upon available quotations for these pricing components,...

  • Page 136
    ... 31, 2012 and 2011, and the years ended June 30, 2012 and 2011. Year Ended (In millions) December 31 2013 2012 (Unaudited) Interest Contracts Interest expense Other income (expense) - net Foreign Currency Contracts Revenues Cost of products sold Other income (expense) - net Commodity Contracts Cost...

  • Page 137
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 4. Derivative Instruments & Hedging Activities (Continued) Inventories of certain merchandisable agricultural commodities, which include amounts acquired under deferred pricing contracts, are stated at market...

  • Page 138
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 4. Derivative Instruments & Hedging Activities (Continued) The Company uses forward foreign exchange contracts as cash flow hedges to protect against fluctuations in cash flows due to changes in foreign ...

  • Page 139
    ...- 39 57 Consolidated Statement of (In millions) Earnings Locations Year Ended June 30 2012 2011 Effective amounts recognized in earnings FX Contracts Other income/expense - net Interest Contracts Interest expense Commodity Contracts Cost of products sold Revenues Ineffective amount recognized in...

  • Page 140
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 5. Marketable Securities The following table sets forth items in short-term and long-term investments. Cost December 31, 2013 United States government obligations Maturity less than 1 year Maturity 1 to 5 ...

  • Page 141
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 5. Marketable Securities (Continued) All of the $2 million in unrealized losses at December 31, 2013, arose within the last 12 months and are related to the Company's investment in one security. The market ...

  • Page 142
    ... who has a carrying value of $2.1 billion as of December 31, 2013, and a market value of $2.8 billion based on active market quoted prices converted to U.S. dollars at applicable exchange rates at December 31, 2013. The Company provides credit facilities totaling $313 million to seven unconsolidated...

  • Page 143
    ..., are set forth in the following table. December 31, 2013 Consolidated Businesses Investments in Affiliates Total December 31, 2012 Consolidated Businesses Investments in Affiliates Total Oilseeds Processing Corn Processing Agricultural Services Other Total $ 192 81 81 10 364 $ 184 7 7 - 198...

  • Page 144
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 10. Debt Financing Arrangements December 31, 2013 December 31, 2012 (In millions) 0.875% Convertible Senior Notes $1.15 billion face amount, due in 2014 4.479% Debentures $750 million face amount, due in ...

  • Page 145
    ..., 2012 and 2011, respectively, were included in interest expense related to the Company's long-term debt. At December 31, 2013, the fair value of the Company's long-term debt exceeded the carrying value by $0.9 billion, as estimated using quoted market prices (a Level 2 measurement under applicable...

  • Page 146
    ... net worth as well as limitations related to incurring liens, secured debt, and certain other financing arrangements. The Company is in compliance with these covenants as of December 31, 2013. The Company has outstanding standby letters of credit and surety bonds at December 31, 2013 and 2012...

  • Page 147
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 11. Earnings Per Share (Continued) Adjusted net earnings attributable to controlling interests in 2011 include a $13 million adjustment for after-tax interest. Adjusted average shares outstanding for 2011 ...

  • Page 148
    ... to the 2009 plan. The fair value of Restricted Stock Awards and PSUs is determined based on the market value of the Company's shares on the grant date. The weighted-average grant-date fair values of awards granted during the year ended December 31, 2013, the six months ended December 31, 2012, and...

  • Page 149
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 12. Stock Compensation (Continued) Total compensation expense for option grants, Restricted Stock Awards and PSUs recognized during the years ended December 31, 2013, and 2012, the six months ended December ...

  • Page 150
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 14. Income Taxes The following table sets forth the geographic split of earnings before income taxes: Year Ended (In millions) December 31 2013 2012 (Unaudited) United States Foreign $ $ 1,509 515 2,024 $ $...

  • Page 151
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 14. Income Taxes (Continued) Significant components of deferred tax liabilities and assets are as follows: December 31, 2013 Deferred tax liabilities Property, plant, and equipment Equity in earnings of ...

  • Page 152
    ... June 30 2012 2011 The Company has historically included amounts received from the U.S. Government in the form of a biodiesel credit as taxable income on its federal and state income tax returns. In the fourth quarter of 2013, the Internal Revenue Service released a Chief Counsel Advice stipulating...

  • Page 153
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 14. Income Taxes (Continued) The Company has $26 million and $32 million of tax assets related to excess foreign tax credits at December 31, 2013 and 2012, respectively, which begin to expire in 2015. The ...

  • Page 154
    ... of cereals and other agricultural commodities resulting in allegations of income tax evasion. While the Company believes that it has complied with all Argentine tax laws, it cannot rule out receiving additional assessments challenging transfer prices used to price grain exports for years subsequent...

  • Page 155
    ... Company amended its U.S. qualified pension plans and began notifying certain former employees of its offer to pay those employees' pension benefit in a lump sum. This lump sum payment offer expired in December 2012. Former employees eligible for the voluntary lump sum payment option were generally...

  • Page 156
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Employee Benefit Plans (Continued) The Company maintains 401(k) plans covering substantially all U.S. employees. The Company contributes cash to the plans to match qualifying employee contributions, and ...

  • Page 157
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Employee Benefit Plans (Continued) Pension Benefits (In millions) Retirement plan expense Defined benefit plans: Service cost (benefits earned during the period) Interest cost Expected return on plan ...

  • Page 158
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Employee Benefit Plans (Continued) Prior to December 31, 2012, the Company used a June 30 measurement date for all defined benefit plans. As a result of the change in fiscal year end (see Note 1), the ...

  • Page 159
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Employee Benefit Plans (Continued) Included in accumulated other comprehensive income for postretirement benefits at December 31, 2013, are the following amounts that have not yet been recognized in net ...

  • Page 160
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Plan Assets The Company's employee benefit plan assets are principally comprised of the following types of investments: Common stock: Equity securities are valued based on quoted exchange prices and are ...

  • Page 161
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Employee Benefit Plans (Continued) The following tables set forth, by level within the fair value hierarchy, the fair value of plan assets as of December 31, 2013 and 2012. Fair Value Measurements at ...

  • Page 162
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Employee Benefit Plans (Continued) Fair Value Measurements at December 31, 2012 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs (...

  • Page 163
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. 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: December 31 2013(1)(2) Equity ...

  • Page 164
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 16. Employee Benefit Plans (Continued) The following benefit payments, which reflect expected future service, are expected to be paid by the benefit plans: Pension Benefits Postretirement Benefits (In ...

  • Page 165
    ... 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...

  • Page 166
    ... C. Toepfer International, an 80% owned global merchant of agricultural commodities and processed products. The Agricultural Services segment also includes the Company's share of the results of its Kalama Export Company LLC joint venture and GrainCorp dividends. In December 2012, the Company sold...

  • Page 167
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 18. Segment and Geographic Information (Continued) Intersegment sales have been recorded at amounts approximating market. Operating profit for each segment is based on net sales less identifiable operating ...

  • Page 168
    ... (Continued) Segment Information (In millions) Year Ended December 31 2013 2012 (Unaudited) $ 38,490 $ 13,299 46,950 515 (9,450) $ 89,804 $ Six Months Ended December 31 2012 2011 (Unaudited) Year Ended June 30 2012 2011 Gross revenues Oilseeds Processing Corn Processing Agricultural Services Other...

  • Page 169
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 18. Segment and Geographic Information (Continued) Year Ended December 31 2013 2012 (Unaudited) $ 36 3 47 12 4 102 $ 37 2 30 18 22 109 $ Six Months Ended December 31 2012 2011 (Unaudited) 18 1 18 11 11 59 $ 16...

  • Page 170
    ... Statements (Continued) Note 18. Segment and Geographic Information (Continued) December 31 2013 2012 $ 2,120 431 302 24 463 $ 3,340 $ 1,889 505 297 18 461 3,170 (In millions) Investments in and advances to affiliates Oilseeds Processing Corn Processing Agricultural Services Other Corporate...

  • Page 171
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 18. Segment and Geographic Information (Continued) Geographic information: The following geographic data include revenues attributed to the countries based on the location of the subsidiary making the sale ...

  • Page 172
    ... ended June 30, 2012 consist of asset impairment charges and other costs of $349 million related to the exit of the Clinton, IA, bioplastics and Walhalla, ND, ethanol facilities in the Corn Processing segment and other facility exit-related costs of $4 million in Corporate. Asset impairment, exit...

  • Page 173
    ... fee, market values for similar transactions and its cost of servicing the receivables sold. The Program terminates on June 28, 2014, unless extended. As of December 31, 2013, the fair value of trade receivables transferred to the Purchasers under the Program and derecognized from the Company...

  • Page 174
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 21. Legal Proceedings, Guarantees, and Commitments The Company is routinely involved in a number of actual or threatened legal actions, including those involving alleged personal injuries, employment law, ...

  • Page 175
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 22. Quarterly Financial Data (Unaudited) Quarter June 30 September 30 March 31 Fiscal Year Ended December 31, 2013 Revenues Gross Profit Net Earnings Attributable to Controlling Interests Basic Earnings Per...

  • Page 176
    Archer-Daniels-Midland Company Notes to Consolidated Financial Statements (Continued) Note 22. Quarterly Financial Data (Unaudited) (Continued) Net earnings attributable to controlling interests for the first quarter of the fiscal year ended December 31, 2013 include an aftertax FCPA charge of $17 ...

  • Page 177
    ...The Board of Directors and Shareholders Archer-Daniels-Midland Company Decatur, Illinois We have audited the accompanying consolidated balance sheets of Archer-Daniels-Midland Company (the Company) as of December 31, 2013 and 2012, and the related consolidated statements of earnings, comprehensive...

  • Page 178
    ... Firm The Board of Directors and Shareholders Archer-Daniels-Midland Company Decatur, Illinois We have audited Archer-Daniels-Midland Company's (the Company) internal control over financial reporting as of December 31, 2013, based on criteria established in Internal Control - Integrated Framework...

  • Page 179
    ... attestation report on the Company's internal control over financial reporting as of December 31, 2013. That report is included herein. /s/ Patricia A. Woertz Patricia A. Woertz Chairman and Chief Executive Officer /s/ Ray G. Young Ray G. Young Senior Vice President & Chief Financial Officer Item...

  • Page 180
    ... Mark A. Bemis Assistant Treasurer since January 1998. Vice President and Global Chief Compliance officer since January 2014. Ethics and Compliance Counsel at the Coca-Cola Company from 2006 to January 2014. Senior Vice President and President, Corn Processing business unit since December 2010. Vice...

  • Page 181
    ... 2010. Vice President of the Company since December 2004. President, Asia Pacific since August 2011. Vice President and Executive Director, Asia-Pacific from July 2010 to August 2011. Vice President Planning & Business Development from December 2004 to July 2010. Vice President and General Auditor...

  • Page 182
    ... During Fiscal 2013," "Pension Benefits," "Nonqualified Deferred Compensation," "Termination of Employment and Change-in-Control Arrangements" and "Director Compensation for Fiscal 2013" of the definitive proxy statement for the Company's annual meeting of stockholders to be held on May 1, 2014, and...

  • Page 183
    ..., between the Company and The Bank of New York Mellon (successor to JPMorgan Chase, The Chase Manhattan Bank, Chemical Bank, and Manufacturers Hanover Trust Company), as Trustee (incorporated by reference to Exhibit 4(a) to Registration Statement No. 33-6721), and Supplemental Indenture dated as of...

  • Page 184
    ... Amendment to ADM Supplemental Retirement Plan (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2010 (File No. 1-44)). The Archer-Daniels-Midland Company Amended and Restated Stock Unit Plan for Nonemployee Directors, as...

  • Page 185
    ... Regarding Terms of Employment dated April 27, 2006 with Patricia A. Woertz (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 1-44) filed on May 1, 2006. The Archer-Daniels-Midland Company 2009 Incentive Compensation Plan (incorporated by reference...

  • Page 186
    Item 15. (32.1) 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 ...

  • Page 187
    ... by the undersigned, thereunto duly authorized. Date: February 26, 2014 ARCHER-DANIELS-MIDLAND COMPANY By: /s/ D. C. Findlay D. C. Findlay Senior Vice President, General Counsel and Secretary Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below on...

  • Page 188
    ...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 will be held at the James R. Randall Research...