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AGCO Reports Third Quarter Results

The following is a reconciliation of adjusted income from operations, net income and net income per share to reported income from operations, net income and net income per share for the nine months ended September 30, 2012 and 2011 (in millions, except per share data):

    Nine months ended September 30,
2012     2011
               
Income Net Income Net
From Net Income From Net Income
Operations

Income (1)

Per Operations

Income (1)

Per
   

Share (1)

   

Share (1)

 
As adjusted $ 574.3 $ 419.6 $ 4.25 $ 423.9 $ 297.6 $ 3.04

Restructuring and other infrequent income (2)

 

 

 

 

(0.7

)

 

(0.5

)

 

 
As reported $ 574.3 $ 419.6 $ 4.25 $ 424.6   $ 298.1   $ 3.04
 

(1)

 

Net income and net income per share amounts are after tax.

(2)

The restructuring and other infrequent income recorded during the first nine months of 2011 related primarily to a reversal of approximately $0.9 million of previously accrued legally required severance payments associated with the rationalization of the Company’s French operations.

This earnings release discloses the percentage change in regional net sales due to the impact of currency translation. The following table sets forth, for the three and nine months ended September 30, 2012, the impact to net sales of currency translation by geographical segment (in millions, except percentages):

    Three Months Ended     Change due to currency
September 30, translation
        % change    
2012 2011 from 2011 $ %
 
North America $ 632.2 $ 417.7 51.4 % $ (2.9 ) (0.7 )%
South America 479.9 515.7 (6.9 )% (106.5 ) (20.7 )%
Europe/Africa/Middle East 1,060.5 1,092.4 (2.9 )% (117.7 ) (10.8 )%
Asia/Pacific   122.4   73.3 67.0 %   (3.9 ) (5.3 )%
 
$ 2,295.0 $ 2,099.1 9.3 % $ (231.0 ) (11.0 )%
 
 
Nine Months Ended Change due to currency
September 30, translation
% change
2012 2011 from 2011 $ %
 
North America $ 1,932.1 $ 1,171.9 64.9 % $ (15.1 ) (1.3 )%
South America 1,343.8 1,423.0 (5.6 )% (224.4 ) (15.8 )%
Europe/Africa/Middle East 3,667.2 3,465.6 5.8 % (325.5 ) (9.4 )%
Asia/Pacific   315.7   194.9 62.0 %   (7.6 ) (3.9 )%
 
$ 7,258.8 $ 6,255.4 16.0 % $ (572.6 ) (9.2 )%

This earnings release discloses the percentage change in regional net sales due to the impact of acquisitions. The following table sets forth, for the three and nine months ended September 30, 2012, the impact to net sales of acquisitions by geographical segment (in millions, except percentages):

  Three Months Ended    

 

September 30,

Change due to acquisitions

        % change    
2012 2011 from 2011 $ %
 
North America $ 632.2 $ 417.7 51.4 % $ 130.9 31.3 %
South America 479.9 515.7 (6.9 )% 21.5 4.2 %
Europe/Africa/Middle East 1,060.5 1,092.4 (2.9 )% 30.0 2.7 %
Asia/Pacific   122.4   73.3 67.0 %   35.8 48.8 %
 
$ 2,295.0 $ 2,099.1 9.3 % $ 218.2 10.4 %
 
Nine Months Ended
September 30, Change due to acquisitions
% change
2012 2011 from 2011 $ %
 
North America $ 1,932.1 $ 1,171.9 64.9 % $ 414.6 35.4 %
South America 1,343.8 1,423.0 (5.6 )% 77.7 5.5 %
Europe/Africa/Middle East 3,667.2 3,465.6 5.8 % 94.2 2.7 %
Asia/Pacific   315.7   194.9 62.0 %   86.9 44.6 %
 
$ 7,258.8 $ 6,255.4 16.0 % $ 673.4 10.8 %




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