| |
Consolidated Statements of Equities
 |
| Land O'Lakes, Inc. |
|
($ in thousands)
|
|
| Years Ended December 31, 2003,
2002 and 2001 |
|
Capital
Stock |
|
Member Equities
|
Accumulated
Other
Comprehensive
Loss |
Retained
Earnings |
Total
Equities |
|
| Allocated |
Deferred |
Net |
|
|
| Balance,
December 31, 2000 |
$
|
2,345
|
$
|
774,921
|
$
|
(5,980
|
) |
$
|
768,941
|
$
|
–
|
$
|
33,668
|
$804,954
|
|
| |
|
| Capital stock issued |
65 |
– |
– |
– |
– |
– |
65 |
|
| Capital stock redeemed |
(105 |
) |
– |
– |
– |
– |
– |
(105 |
) |
| 2001 earnings, as applied
|
– |
70,552 |
2,708 |
73,260 |
– |
(1,772 |
) |
71,488 |
|
|
|
Less portion stated as current liability
|
|
– |
|
|
(19,900 |
) |
|
– |
|
|
(19,900 |
) |
– |
- |
(19,900 |
) |
| Portion of member equities
stated as current liability |
– |
(9,000 |
) |
– |
|
(9,000 |
) |
– |
– |
(9,000 |
) |
| Cash patronage and redemption
of member equities |
– |
(46,896 |
) |
– |
|
(46,896 |
) |
– |
– |
(46,896 |
) |
| Redemption included in prior
year's liabilities |
– |
37,493 |
|
– |
|
37,493 |
– |
– |
37,493 |
|
| Other |
– |
(608 |
) |
2,570 |
|
1,962 |
– |
(3,545 |
) |
(1,583 |
) |
|
|
| Balance,
December 31, 2001 |
2,305
|
806,562
|
(702
|
) |
805,860
|
–
|
28,351
|
836,516 |
|
| |
|
| Capital stock issued |
5 |
– |
– |
– |
– |
– |
5 |
|
| Capital stock redeemed |
(120 |
) |
– |
– |
– |
– |
– |
(120 |
) |
| 2002 earnings, as applied
|
– |
96,900 |
(10,336 |
) |
86,564 |
– |
12.323 |
98,887 |
|
|
|
Less portion stated as current liability |
– |
(4,178 |
) |
– |
(4,178 |
) |
– |
– |
(4,178 |
) |
| Portion of member equities
stated as current liability |
– |
(8,210 |
) |
– |
(8,210 |
) |
– |
– |
(8,210 |
) |
| Cash patronage and redemption
of member equities |
– |
(37,878 |
) |
– |
(37,878 |
) |
– |
– |
(37,878 |
) |
| Redemption included in prior
year's liabilities |
– |
28,900 |
– |
28,900 |
– |
– |
28,900 |
|
| Other |
– |
2,601 |
– |
2,601 |
– |
(5,010 |
) |
(2,409 |
) |
|
|
| Balance,
December 31, 2002 |
2,190
|
884,697
|
(11,038
|
) |
873,659
|
–
|
35,664
|
911,513 |
|
| |
|
|
| Capital stock issued |
3
|
– |
– |
– |
– |
– |
3 |
|
| Capital stock redeemed |
(68
|
) |
–
|
– |
– |
– |
– |
(68 |
) |
| 2003 earnings, as applied
|
–
|
40,045 |
986
|
41,031
|
–
|
42,507 |
83,538 |
|
|
|
Less portion stated as current liability |
–
|
(11,640 |
) |
–
|
(11,640 |
) |
–
|
– |
(11,640 |
) |
| Portion of member equities
stated as current liability |
–
|
(7,809 |
) |
–
|
(7,809 |
) |
– |
– |
(7,809 |
) |
| Cash patronage and redemption
of member equities |
–
|
(24,380 |
) |
–
|
(24,380 |
) |
–
|
– |
(24,380 |
) |
| Redemption included in prior
year's liabilities |
– |
12,388 |
–
|
12,388 |
–
|
– |
12,388 |
|
| Minimum pension liability
adjustment, net of income tax |
– |
– |
– |
– |
(65,617 |
) |
– |
(65,617 |
) |
| Other |
–
|
(702 |
) |
–
|
(702
|
)
|
– |
(570
|
) |
(1,272 |
) |
|
|
| Balance,
December 31, 2003 |
$ |
2,125
|
$
|
892,599
|
$
|
(10,052
|
) |
$ |
882,547
|
$
|
(65,617
|
)
|
$ |
77,601
|
$ 896,656 |
|
|
|
| See accompanying notes
to consolidated financial statements. |
|
|
|
