Contabilidad

2011 Annual Report

SEABOARD

CORPORATION

Description of Business
Seaboard Corporation is a diversified international agribusiness and transportation company. In the United States,
Seaboard is primarily engaged in pork production and processing and ocean transportation. Overseas, Seaboard is
primarily engaged in commodity merchandising, grain processing, sugar production and electricpower generation.
Seaboard also has an interest in turkey operations in the United States.
Table of Contents
Letter to Stockholders ....................................................................................................................................... 2
Principal Locations........................................................................................................................................... 5
Division Summaries ...... ……………………………………………………………………………………………6
Summary of Selected Financial Data ................................................................................................................. 8
Company Performance Graph........................................................................................................................... 9
Quarterly Financial Data (unaudited) ................................................................................................................10
Management’s Discussion & Analysis of Financial Condition and Results of Operations ..................................11
Management’s Responsibility for Consolidated FinancialStatements................................................................25
Management’s Report on Internal Control over Financial Reporting .................................................................25
Report of Independent Registered Public Accounting Firm on Consolidated Financial Statements.....................26
Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting ..........27
ConsolidatedStatements of Earnings ................................................................................................................28
Consolidated Balance Sheets ............................................................................................................................29
Consolidated Statements of Cash Flows...........................................................................................................30
Consolidated Statements of Changes in Equity .................................................................................................31
Notes to Consolidated Financial Statements......................................................................................................32
Stockholder Information..................................................................................................................................59
This report, including information included or incorporated by reference in this report, contains certain
forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future
performance and business of Seaboard Corporation and its subsidiaries (Seaboard).Forward-looking statements
generally may be identified as statements that are not historical in nature and statements preceded by, followed by or
that include the words: "believes," "expects," "may," "will," "should," "could," "anticipates," "estimates," "intends,"
or similar expressions. In more specific terms, forward-looking statements, include, without limitation: statements
concerning theprojection of revenues, income or loss, capital expenditures, capital structure or other financial items,
including the impact of mark-to-market accounting on operating income; statements regarding the plans and
objectives of management for future operations; statements of future economic performance; statements regarding
the intent, belief or current expectations of Seaboard and its management...