date:Oct 31, 2013
olume softness, currency headwinds and higher costs. Notably, two-thirds of the decline in operating income in the quarter was a result of the challenges in South America, particularly Argentina. Conditions remain very challenging in Argentina as political and economic actions have significantly increased costs while our ability to price through higher costs continues to be constrained.
In the face of economic challenges, volume softness and the impact of last summers drought in the U.S., our t