2012 Annual Report
Our Financials
Land O’Lakes achieved record sales of $14.1 billion in 2012 plus record net earnings of $241 million. In addition, three of our business segments—Crop Inputs, Feed and Layers—achieved record sales while Crop Inputs also had record earnings.
A variety of factors influenced our performance in 2012 including warmer than normal weather, volatile markets and fluctuations in commodity pricing. Overall, Land O’Lakes’ results were positively impacted by the continuing implementation of strategies focused on consolidating and strengthening our business platform, reducing costs and driving growth.
Highlights of 2012
| 2012 | 2011 | |
| For the Year ($ in thousands): | ||
|---|---|---|
| Net sales | $14,116,213 | $12,849,321 |
| Net earnings | 240,861 | 183,608 |
| Allocated patronage equities | 179,605 | 123,597 |
| Cash returned to members | 112,539 | 107,742 |
| At Year End ($ in thousands): | ||
| Total assets | $ 6,336,744 | $ 5,437,577 |
| Working capital | 755,840 | 818,392 |
| Long-term debt | 1,071,744 | 790,058 |
| Equities | 1,210,427 | 1,121,634 |
| Financial Measures: | ||
| Return on equity | 21.7% | 16.7% |
| Return on invested capital | 11.9% | 11.3% |
| Long-term debt-to-capital | 47.0% | 41.3% |
| Current ratio | 1.21 | 1.27 |
| Membership: | ||
| Member associations | 887 | 921 |
| Individual members | 3,991 | 4,142 |
Learn more about: Current Financials | Past Financials
