bunge 2004 annual report management’s discussion and analysis of financial condition and results of operations A summary of certain items in our consolidated statements of income and volumes by reportable segment for the periods indicated is set forth below. Year Ended December 31, Percent Percent  (US$ in millions, except percentages) 2004 2003 Change 2002 Change Volumes (in thousands of metric tons): Agribusiness 8 88 8,,6 61 19 9 86,962 2% 69,606 25% Fertilizer 1 11 1,,5 58 89 9 11,538 – 10,708 8% Edible oil products 4 4,,7 72 28 8 4,100 15% 1,946 111% Milling products 3 3,,9 98 87 7 3,468 15% 3,303 5% Other (soy ingredients) – 140 (100) % 226 (38) % Total 1 10 08 8,,9 92 23 3 106,208 3% 85,789 24% Net sales: Agribusiness $ $ 1 17 7,,9 91 11 1 $ 16,224 10% $ 10,483 55% Fertilizer 2 2,,5 58 81 1 1,954 32% 1,384 41% Edible oil products 3 3,,8 87 72 2 3,184 22% 1,279 149% Milling products 8 80 04 4 751 7% 628 20% Other (soy ingredients) – 52 (100) % 108 (52) % Total $ $ 2 25 5,,1 16 68 8 $ 22,165 14% $ 13,882 60% Costs of goods sold: Agribusiness $ $ ((1 16 6,,9 97 75 5)) $ (15,675) 8% $ (9,700) 62% Fertilizer ((1 1,,9 98 80 0)) (1,581) 25% (1,091) 45% Edible oil products ((3 3,,6 61 15 5)) (2,900) 25% (1,128) 157% Milling products ((7 71 12 2)) (670) 6% (551) 22% Other (soy ingredients) – (34) (100) % (74) (54) % Total $ $ ((2 23 3,,2 28 82 2)) $ (20,860) 12% $ (12,544) 66% Gross profit: Agribusiness $ 9 93 36 6 $ 549 70% $ 783 (30) % Fertilizer 6 60 01 1 373 61% 293 27% Edible oil products 2 25 57 7 284 (10) % 151 88% Milling products 9 92 2 81 14% 77 5% Other (soy ingredients) – 18 (100) % 34 (47) % Total $ 1 1,,8 88 86 6 $ 1,305 45% $ 1,338 (3) % Selling, general and administrative expenses: Agribusiness $ ((4 47 71 1)) $ (332) 42% $ (284) 17% Fertilizer ((1 19 97 7)) (129) 53% (100) 29% Edible oil products ((1 15 57 7)) (180) (13) % (134) 34% Milling products ((4 46 6)) (43) 7% (51) (16) % Other (soy ingredients) – (7) (100) % (10) (30) % Total $ ((8 87 71 1)) $ (691) 26% $ (579) 19% Foreign exchange gain (loss): Agribusiness $ ((1 17 7)) $ 89 $ (171) Fertilizer ((3 32 2)) (20) 9 Edible oil products 5 – 3 Milling products – – – Other (soy ingredients) – (1) 3 Total $ ((4 44 4)) $ 68 $ (156) 34