This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

AGCO Reports Fourth Quarter Results

Stocks in this article: AGCO

The Company’s four reportable segments distribute a full range of agricultural equipment and related replacement parts. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the three months and years ended December 31, 2012 and 2011 are as follows:

Three Months EndedDecember 31,

   

NorthAmerica

     

SouthAmerica

     

Europe/Africa/Middle East

     

Asia/Pacific

     

Consolidated

 
2012
Net sales $ 652.3 $ 511.9 $ 1,406.5 $ 132.7 $ 2,703.4
Income from operations 54.0 51.0 87.4 0.4 192.8
 
2011
Net sales $ 598.7 $ 448.5 $ 1,381.6 $ 89.0 $ 2,517.8
Income from operations 42.6 36.4 142.5 8.0 229.5
 
 

Years EndedDecember 31,

   

NorthAmerica

     

SouthAmerica

     

Europe/Africa/Middle East

     

Asia/Pacific

     

Consolidated

 
2012
Net sales $ 2,584.4 $ 1,855.7 $ 5,073.7 $ 448.4 $ 9,962.2
Income from operations 259.9 161.6 474.9 10.2 906.6
 
2011
Net sales $ 1,770.6 $ 1,871.5 $ 4,847.2 $ 283.9 $ 8,773.2
Income from operations 90.9 143.1 486.9 23.9 744.8
 
 

A reconciliation from the segment information to the consolidated balances for income from operations is set forth below:

 

Three Months EndedDecember 31,

     

Years EndedDecember 31,

  2012           2011     2012           2011  
Segment income from operations $ 192.8 $ 229.5 $ 906.6 $ 744.8
Corporate expenses (31.6 ) (30.3 ) (107.1 ) (90.6 )
Stock compensation expense (7.5 ) (6.0 ) (34.6 ) (23.0 )
Restructuring and other infrequent income 0.7
Impairment charge (22.4 ) (22.4 )
Amortization of intangibles   (12.4 )   (7.5 )   (49.3 )   (21.6 )
Consolidated income from operations $ 118.9   $ 185.7   $ 693.2   $ 610.3  
 
 

RECONCILIATION OF NON-GAAP MEASURES

This earnings release discloses adjusted income from operations, net income and net income per share, all of which exclude amounts that differ from the most directly comparable measure calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). A reconciliation of each of these financial measures to the most directly comparable GAAP measure is included below.

10 of 12

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs