Annual Report 2002 Land O'Lakes, Inc.
IntroductionHighlights of 2002Letter to the StakeholdersDairy FoodsAg ServicesBoard of DirectorsFinancial ReviewSenior Strategy Team
Financial Overview
Consolidated Statements of Operations
Consolidated Balance Sheets
Consolidated Statements of Cash Flows
Consolidated Statements of Equities
Notes to Consolidated Financial Statements
Report of Management
Independent Auditor's Report
Ten Years in Review
Notes to Consolidated Financial Statements


15. Gain on Legal SettlementS

During 2002, the Company recognized gain on legal settlements of $155.5 million. The gain resulted from net cash proceeds of $58.8 million and a legal settlement receivable of $96.7 million for which cash was received on January 17, 2003. The amounts were received from several vitamin product suppliers against whom the Company alleged certain price-fixing claims.

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INTRODUCTION | HIGHLIGHTS OF 2002 | LETTER TO THE STAKEHOLDERS | DAIRY FOODS
AG SERVICES | BOARD OF DIRECTORS | FINANCIAL REVIEW | SENIOR STRATEGY TEAM