financial highlights
| (in thousands, except for per share, ratios and performance data) | 2011 | 2010 | % Change | |||||
|---|---|---|---|---|---|---|---|---|
| Operating Results | ||||||||
| Sales and merchandising revenues | $ | 4,576,331 | $ | 3,393,791 | 34.8 | % | ||
| Gross profit | 352,852 | 281,679 | 25.3 | % | ||||
| Equity in earnings of affiliates | 41,450 | 26,007 | 59.4 | % | ||||
| Other income, net | 7,922 | 11,652 | (32.0 | %) | ||||
| Net income | 96,825 | 64,881 | 49.2 | % | ||||
| Net income attributable to The Andersons, Inc. | 95,106 | 64,662 | 47.1 | % | ||||
| Financial Position | ||||||||
| Total assets | 1,734,123 | 1,699,390 | 2.0 | % | ||||
| Working capital | 312,971 | 301,815 | 3.7 | % | ||||
| Long-term debt | 238,088 | 263,675 | (9.7 | %) | ||||
| Long-term debt, non-recourse | 797 | 13,150 | (93.9 | %) | ||||
| Total equity | 538,842 | 464,559 | 16.0 | % | ||||
| Per Share Data | ||||||||
| Net income—basic | 5.13 | 3.51 | 46.2 | % | ||||
| Net income—diluted | 5.09 | 3.48 | 46.3 | % | ||||
| Dividends paid | 0.440 | 0.358 | 22.9 | % | ||||
| Year end market value | 43.66 | 36.35 | 20.1 | % | ||||
| Ratios and Other Data | ||||||||
| Pretax return on beginning equity attributable to The Andersons, Inc. |
32.8 | % | 26.5 | % | ||||
| Net income attributable to The Andersons, Inc. return on beginning equity attributable to The Andersons, Inc. |
21.1 | % | 16.4 | % | ||||
| Funded long-term debt to equity | 0.4–to–1 | 0.6–to–1 | ||||||
| Weighted average shares outstanding (basic) | 18,457 | 18,356 | ||||||
| Effective tax rate | 34.5 | % | 37.7 | % | ||||