Quarterly Financial Data

12 Months Ended

Dec. 31, 2019



Note 16 - Quarterly Financial Data (unaudited)


	1st		2nd		3rd		4th			Total for
(Millions of dollars except per share amounts)	Quarter		Quarter		Quarter		Quarter			the Year
2019
Net sales	$	1,543	$	1,822	$	1,663	$	1,812	^(a)	$	6,840
Operating income (loss)	$	(34)	$	53	$	(6)	$	91	^(a)	$	104
Net earnings (loss) attributable to Seaboard	$	57	$	58	$	(7)	$	175	^(a)	$	283
Earnings (loss) per common share	$	48.79	$	50.13	$	(6.00)	$	149.91	^(a)	$	242.78
2018
Net sales	$	1,579	$	1,691	$	1,651	$	1,662		$	6,583
Operating income	$	97	$	32	$	37	$	43		$	209
Net earnings (loss) attributable to Seaboard	$	32	$	7	$	35	$	(91)	^(b)	$	(17)
Earnings (loss) per common share	$	26.75	$	6.28	$	29.93	$	(77.58)	^(b)	$	(14.61)

(a)

During the fourth quarter of 2019, Seaboard recognized $60 million of net sales and operating income, or $51.14 per common share, as a result of the federal blender’s credits being extended retroactively for 2019 and 2018. See Note 14 for discussion on the federal blender’s credits.

(b)

During the fourth quarter of 2018, Seaboard recorded other investment losses of $167 million primarily related to mark-to-market losses on short-term investments. As a comparison, other investment income of $73 million was recorded in the fourth quarter of 2019.