2006 ADM Annual Report

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2 0 0 6 A N N U A L R E P O R T We See Opportunity A r c h e r D a n i e l s M i d l a n d C o m p a n y A Tribute Our Company enters fiscal 2007 with strong momentum and a broad array of<a title="2006 ADM Annual Report page 1" href="http://viewer.zmags.com/publication/f843a72f?page=1">2 0 0 6 A N N U A L R E P O R TWe See Opp</a> 2 0 0 6 A N N U A L R E P O R TWe See Opp<a title="2006 ADM Annual Report page 2" href="http://viewer.zmags.com/publication/f843a72f?page=2">A TributeOur Company enters fiscal 2007 with </a> A TributeOur Company enters fiscal 2007 with <a title="2006 ADM Annual Report page 3" href="http://viewer.zmags.com/publication/f843a72f?page=3">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 4" href="http://viewer.zmags.com/publication/f843a72f?page=4">TO THE SHAREHOLDERS AND EMPLOYEES OF ADM:Since</a> TO THE SHAREHOLDERS AND EMPLOYEES OF ADM:Since<a title="2006 ADM Annual Report page 5" href="http://viewer.zmags.com/publication/f843a72f?page=5">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 6" href="http://viewer.zmags.com/publication/f843a72f?page=6">sources—constrained oil supply, rising energy dem</a> sources—constrained oil supply, rising energy dem<a title="2006 ADM Annual Report page 7" href="http://viewer.zmags.com/publication/f843a72f?page=7">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 8" href="http://viewer.zmags.com/publication/f843a72f?page=8">6</a> 6<a title="2006 ADM Annual Report page 9" href="http://viewer.zmags.com/publication/f843a72f?page=9">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 10" href="http://viewer.zmags.com/publication/f843a72f?page=10"></a> <a title="2006 ADM Annual Report page 11" href="http://viewer.zmags.com/publication/f843a72f?page=11">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 12" href="http://viewer.zmags.com/publication/f843a72f?page=12">0</a> 0<a title="2006 ADM Annual Report page 13" href="http://viewer.zmags.com/publication/f843a72f?page=13">BUILDING GLOBALBIODIESEL CAPACITYIn</a> BUILDING GLOBALBIODIESEL CAPACITYIn<a title="2006 ADM Annual Report page 14" href="http://viewer.zmags.com/publication/f843a72f?page=14">2</a> 2<a title="2006 ADM Annual Report page 15" href="http://viewer.zmags.com/publication/f843a72f?page=15">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 16" href="http://viewer.zmags.com/publication/f843a72f?page=16"></a> <a title="2006 ADM Annual Report page 17" href="http://viewer.zmags.com/publication/f843a72f?page=17">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 18" href="http://viewer.zmags.com/publication/f843a72f?page=18">6</a> 6<a title="2006 ADM Annual Report page 19" href="http://viewer.zmags.com/publication/f843a72f?page=19">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 20" href="http://viewer.zmags.com/publication/f843a72f?page=20"></a> <a title="2006 ADM Annual Report page 21" href="http://viewer.zmags.com/publication/f843a72f?page=21">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 22" href="http://viewer.zmags.com/publication/f843a72f?page=22">20</a> 20<a title="2006 ADM Annual Report page 23" href="http://viewer.zmags.com/publication/f843a72f?page=23">Archer Daniels Midland Company / 2006 Annual Repo</a> Archer Daniels Midland Company / 2006 Annual Repo<a title="2006 ADM Annual Report page 24" href="http://viewer.zmags.com/publication/f843a72f?page=24">22</a> 22<a title="2006 ADM Annual Report page 25" href="http://viewer.zmags.com/publication/f843a72f?page=25">CONNECTINGFARMERS WITHTHE WORLDAt A</a> CONNECTINGFARMERS WITHTHE WORLDAt A<a title="2006 ADM Annual Report page 26" href="http://viewer.zmags.com/publication/f843a72f?page=26">FINANCIAL TABLE OF CONTENTSManagement’s Discuss</a> FINANCIAL TABLE OF CONTENTSManagement’s Discuss<a title="2006 ADM Annual Report page 27" href="http://viewer.zmags.com/publication/f843a72f?page=27">MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI</a> MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI<a title="2006 ADM Annual Report page 28" href="http://viewer.zmags.com/publication/f843a72f?page=28">MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI</a> MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI<a title="2006 ADM Annual Report page 29" href="http://viewer.zmags.com/publication/f843a72f?page=29">primarily due to disruptions in North American gr</a> primarily due to disruptions in North American gr<a title="2006 ADM Annual Report page 30" href="http://viewer.zmags.com/publication/f843a72f?page=30">MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI</a> MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI<a title="2006 ADM Annual Report page 31" href="http://viewer.zmags.com/publication/f843a72f?page=31">Net earnings for fiscal 2005 increased principall</a> Net earnings for fiscal 2005 increased principall<a title="2006 ADM Annual Report page 32" href="http://viewer.zmags.com/publication/f843a72f?page=32">MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI</a> MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI<a title="2006 ADM Annual Report page 33" href="http://viewer.zmags.com/publication/f843a72f?page=33">LIQUIDITY AND CAPITAL RESOURCESThe Company’s obj</a> LIQUIDITY AND CAPITAL RESOURCESThe Company’s obj<a title="2006 ADM Annual Report page 34" href="http://viewer.zmags.com/publication/f843a72f?page=34">MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI</a> MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI<a title="2006 ADM Annual Report page 35" href="http://viewer.zmags.com/publication/f843a72f?page=35">Employee Benefit PlansThe Company provides subst</a> Employee Benefit PlansThe Company provides subst<a title="2006 ADM Annual Report page 36" href="http://viewer.zmags.com/publication/f843a72f?page=36">MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI</a> MANAGEMENT’S DISCUSSION OFOPERATIONS AND FINANCI<a title="2006 ADM Annual Report page 37" href="http://viewer.zmags.com/publication/f843a72f?page=37">2006 2005Fair Market </a> 2006 2005Fair Market <a title="2006 ADM Annual Report page 38" href="http://viewer.zmags.com/publication/f843a72f?page=38">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNatu</a> SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNatu<a title="2006 ADM Annual Report page 39" href="http://viewer.zmags.com/publication/f843a72f?page=39">Property, Plant, and EquipmentProperty, plant, a</a> Property, Plant, and EquipmentProperty, plant, a<a title="2006 ADM Annual Report page 40" href="http://viewer.zmags.com/publication/f843a72f?page=40">value recognition provisions of SFAS Number 123(R</a> value recognition provisions of SFAS Number 123(R<a title="2006 ADM Annual Report page 41" href="http://viewer.zmags.com/publication/f843a72f?page=41">CONSOLIDATED STATEMENTS OF EARNINGSYear Ended </a> CONSOLIDATED STATEMENTS OF EARNINGSYear Ended <a title="2006 ADM Annual Report page 42" href="http://viewer.zmags.com/publication/f843a72f?page=42">CONSOLIDATED BALANCE SHEETSASSETSCurrent A</a> CONSOLIDATED BALANCE SHEETSASSETSCurrent A<a title="2006 ADM Annual Report page 43" href="http://viewer.zmags.com/publication/f843a72f?page=43">LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent Li</a> LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent Li<a title="2006 ADM Annual Report page 44" href="http://viewer.zmags.com/publication/f843a72f?page=44">CONSOLIDATED STATEMENTS OF CASH FLOWSYear Ende</a> CONSOLIDATED STATEMENTS OF CASH FLOWSYear Ende<a title="2006 ADM Annual Report page 45" href="http://viewer.zmags.com/publication/f843a72f?page=45">CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY</a> CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY<a title="2006 ADM Annual Report page 46" href="http://viewer.zmags.com/publication/f843a72f?page=46">NOTES TO CONSOLIDATED FINANCIAL STATEMENTSNot</a> NOTES TO CONSOLIDATED FINANCIAL STATEMENTSNot<a title="2006 ADM Annual Report page 47" href="http://viewer.zmags.com/publication/f843a72f?page=47">Of the $34 million in unrealized losses at June 3</a> Of the $34 million in unrealized losses at June 3<a title="2006 ADM Annual Report page 48" href="http://viewer.zmags.com/publication/f843a72f?page=48">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI</a> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI<a title="2006 ADM Annual Report page 49" href="http://viewer.zmags.com/publication/f843a72f?page=49">The aggregate maturities of long-term debt for th</a> The aggregate maturities of long-term debt for th<a title="2006 ADM Annual Report page 50" href="http://viewer.zmags.com/publication/f843a72f?page=50">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI</a> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI<a title="2006 ADM Annual Report page 51" href="http://viewer.zmags.com/publication/f843a72f?page=51">Note 9-Other Expense (Income) – Net2006 </a> Note 9-Other Expense (Income) – Net2006 <a title="2006 ADM Annual Report page 52" href="http://viewer.zmags.com/publication/f843a72f?page=52">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI</a> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI<a title="2006 ADM Annual Report page 53" href="http://viewer.zmags.com/publication/f843a72f?page=53">The Company uses a March 31 measurement date for </a> The Company uses a March 31 measurement date for <a title="2006 ADM Annual Report page 54" href="http://viewer.zmags.com/publication/f843a72f?page=54">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI</a> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI<a title="2006 ADM Annual Report page 55" href="http://viewer.zmags.com/publication/f843a72f?page=55">External consultants monitor the investment strat</a> External consultants monitor the investment strat<a title="2006 ADM Annual Report page 56" href="http://viewer.zmags.com/publication/f843a72f?page=56">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI</a> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTI<a title="2006 ADM Annual Report page 57" href="http://viewer.zmags.com/publication/f843a72f?page=57">MANAGEMENT’S REPORT ON INTERNAL CONTROLOVER FINA</a> MANAGEMENT’S REPORT ON INTERNAL CONTROLOVER FINA<a title="2006 ADM Annual Report page 58" href="http://viewer.zmags.com/publication/f843a72f?page=58">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTIN</a> REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTIN<a title="2006 ADM Annual Report page 59" href="http://viewer.zmags.com/publication/f843a72f?page=59">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTIN</a> REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTIN<a title="2006 ADM Annual Report page 60" href="http://viewer.zmags.com/publication/f843a72f?page=60">QUARTERLY FINANCIAL DATA (Unaudited)QuarterFi</a> QUARTERLY FINANCIAL DATA (Unaudited)QuarterFi<a title="2006 ADM Annual Report page 61" href="http://viewer.zmags.com/publication/f843a72f?page=61">COMMON STOCK MARKET PRICES AND DIVIDENDSThe Co</a> COMMON STOCK MARKET PRICES AND DIVIDENDSThe Co<a title="2006 ADM Annual Report page 62" href="http://viewer.zmags.com/publication/f843a72f?page=62">TEN-YEAR SUMMARYOperating, Financial, and Oth</a> TEN-YEAR SUMMARYOperating, Financial, and Oth<a title="2006 ADM Annual Report page 63" href="http://viewer.zmags.com/publication/f843a72f?page=63">2003 2002 2001 </a> 2003 2002 2001 <a title="2006 ADM Annual Report page 64" href="http://viewer.zmags.com/publication/f843a72f?page=64">D I R E C T O R SG. Allen AndreasChairman</a> D I R E C T O R SG. Allen AndreasChairman<a title="2006 ADM Annual Report page 65" href="http://viewer.zmags.com/publication/f843a72f?page=65">Patrick J. MooreChairman and Chief Executive Off</a> Patrick J. MooreChairman and Chief Executive Off<a title="2006 ADM Annual Report page 66" href="http://viewer.zmags.com/publication/f843a72f?page=66">CORPORATE OFFICERSPatricia A. WoertzChief Ex</a> CORPORATE OFFICERSPatricia A. WoertzChief Ex<a title="2006 ADM Annual Report page 67" href="http://viewer.zmags.com/publication/f843a72f?page=67">STOCKHOLDER INFORMATIONStock ExchangesArch</a> STOCKHOLDER INFORMATIONStock ExchangesArch<a title="2006 ADM Annual Report page 68" href="http://viewer.zmags.com/publication/f843a72f?page=68"></a>