for the fiscal year. Additionally, top-line comparative results  for the year were impacted by the addition of Don Miguel  Foods Corp. sales (additional product lines within the  MegaMex joint venture) when the Company’s retail sales force  assumed responsibility for these sales beginning in the third  quarter of fiscal 2012. These sales contributed an incremental  $103.2 million of net sales and 47.4 million lbs. to the top-line  results for the fiscal year. Higher export sales of the  SPAM ® family of products by the Company’s international business  provided notable growth throughout fiscal 2013. Increased  value-added sales within the Refrigerated Foods and Jennie-O  Turkey Store segments also contributed to the top-line  results for both the fourth quarter and fiscal year. The more  modest tonnage increase reflects continued lower sales of  commodity meat items as harvest levels were reduced to limit  the Company’s exposure to unfavorable operating margins. In  addition, planned reductions in the Refrigerated Foods feed  sales business impacted volume comparisons. Gross Profit:  Gross profit was $385.5 million and $1.41 billion  for the 2013 fourth quarter and fiscal year, respectively,  compared to $351.8 million and $1.33 billion in fiscal 2012.  As a percentage of net sales, gross profit increased to 16.6  percent for the fourth quarter compared to 16.2 percent in  fiscal 2012, but decreased to 16.1 percent for the year com- pared to 16.2 percent in fiscal 2012. Strong fourth quarter  performances from the Refrigerated Foods, Grocery Products,  and International & Other segments offset lower margins in  the Jennie-O Turkey Store and Specialty Foods segments. The  additional margins from  SKIPPY ®  peanut butter sales boosted  margins for both the Grocery Products and International &  Other segments. Additionally, continued strong margins were  experienced on export sales of the  SPAM ®  family of products in  the International & Other segment and improved results in the  value-added businesses were seen in the Refrigerated Foods  segment during the fourth quarter. These increases were able  to overcome a sharp decline in the Specialty Foods segment  due to the expiration of the agreement allowing DCB to sell  certain sugar substitutes in foodservice trade channels and  higher input costs for HSP. For the full year, gross margins  were hindered by high grain costs and weak commodity turkey  prices for Jennie-O Turkey Store and poor pork processing  margins for Refrigerated Foods. In addition, shipping and han- dling expenses for the fiscal year increased compared to fiscal  2012 in four of the Company’s five reporting segments. Selling, General and Administrative:  Selling, general and  administrative expenses for the fourth quarter and year were  $147.4 million and $627.3 million, respectively, compared to  $159.7 million and $605.9 million in fiscal 2012. Selling, gen- eral and administrative expenses as a percentage of net sales  for the fourth quarter decreased to 6.3 percent compared to  fiscal 2012 at 7.4 percent. For the fiscal year, these expenses  decreased to 7.2 percent of net sales from 7.4 percent in fiscal  2012. The expense incurred in fiscal 2013 includes transition  and transaction costs incurred related to the acquisition of  the  SKIPPY ®  peanut butter business compared to fiscal 2012.  A reduction in advertising expenses led to a lower expense for  both the fourth quarter and year as the prior year included a  significant investment in the  Make The Switch ®  media cam- paign. Lower employee benefit-related costs were also seen  in the fourth quarter compared to fiscal 2012. Research and development expenses were $7.2 million and  $29.9 million for the fiscal 2013 fourth quarter and year,  respectively, compared to $8.1 million and $29.8 million in  fiscal 2012. Equity in Earnings of Affiliates:  Equity in earnings of affiliates  was $2.1 million and $20.5 million for the fiscal 2013 fourth  quarter and year, respectively, compared to $10.1 million and  $38.7 million in fiscal 2012. The decrease is a result of lower  earnings from the Company’s 50 percent owned MegaMex  joint venture, which experienced higher incentive expense  on the Fresherized Foods acquisition, unfavorable exchange  rates, and higher input costs. Overall improved results were  seen in the Company’s international joint ventures for the  fourth quarter, while fiscal 2013 resulted in an overall decline  for those operations compared to fiscal 2012. The Company accounts for its majority-owned operations  under the consolidation method. Investments in which the  Company owns a minority interest, and for which there are  no other indicators of control, are accounted for under the  equity or cost method. These investments, along with receiv- ables from other affiliates, are included in the Consolidated  Statements of Financial Position as investments in and  receivables from affiliates. The composition of this line item at  October 27, 2013, was as follows: Income Taxes:  The Company’s effective tax rate for the fiscal  2013 fourth quarter and year was 33.9 percent and 33.6 per- cent, respectively, compared to 33.1 percent and 33.4 percent,  respectively, for the quarter and year in fiscal 2012. Net sales and operating profits for each of the Company’s  reportable segments are set forth below. The Company  is an integrated enterprise, characterized by substantial  intersegment cooperation, cost allocations, and sharing  of assets. Therefore, the Company does not represent that  these segments, if operated independently, would report the  operating profit and other financial information shown below.  (Additional segment financial information can be found in  Note O “Segment Reporting.”) Segment Results (in thousands)  Country   Investments/Receivables United States   $203,413 Philippines  52,652 Vietnam  5,671 Mexico  5,724 Japan 3,149 Total  $270,609 22