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Quarterly Financial Data (Unaudited)
 12 Months Ended
Sep. 27, 2014
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (Unaudited)
QUARTERLY FINANCIAL DATA (UNAUDITED)
 
 
 
 
in millions, except per share data
 
 
 
First
Quarter

 
Second
Quarter

 
Third
Quarter

 
Fourth
Quarter

2014
 
 
 
 
 
 
 
 
Sales
 
$
8,761

 
$
9,032

 
$
9,682

 
$
10,105

Gross profit
 
685

 
651

 
637

 
712

Operating income
 
412

 
361

 
351

 
306

Net income
 
252

 
210

 
258

 
136

Amounts attributable to Tyson:
 
 
 
 
 
 
 
 
   Net income from continuing operations
 
254

 
213

 
260

 
137

Net income attributable to Tyson
 
254

 
213

 
260

 
137

 
 
 
 
 
 
 
 
 
Net income per share from continuing operations attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic (a)
 
$
0.76

 
$
0.64

 
$
0.75

 
$
0.37

Class B Basic
 
$
0.68

 
$
0.58

 
$
0.68

 
$
0.32

Diluted (a)
 
$
0.72

 
$
0.60

 
$
0.73

 
$
0.35

Net income per share attributable to Tyson:
 
 
 
 
 
 
 
 
Class A Basic (a)
 
$
0.76

 
$
0.64

 
$
0.75

 
$
0.37

Class B Basic
 
$
0.68

 
$
0.58

 
$
0.68

 
$
0.32

Diluted (a)
 
$
0.72

 
$
0.60

 
$
0.73

 
$
0.35

2013
 
 
 
 
 
 
 
 
Sales
 
$
8,366

 
$
8,383

 
$
8,731

 
$
8,894

Gross profit
 
539

 
468

 
682

 
669

Operating income
 
304

 
236

 
419

 
416

Net income
 
168

 
106

 
245

 
259

Amounts attributable to Tyson:
 
 
 
 
 
 
 
 
   Net income from continuing operations
 
177

 
157

 
253

 
261

   Net loss from discontinued operation
 
(4
)
 
(62
)
 
(4
)
 
—

Net income attributable to Tyson
 
173

 
95

 
249

 
261

 
 
 
 
 
 
 
 
 
Net income per share from continuing operations attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
0.51

 
$
0.45

 
$
0.73

 
$
0.77

Class B Basic
 
$
0.46

 
$
0.40

 
$
0.66

 
$
0.70

Diluted
 
$
0.49

 
$
0.43

 
$
0.69

 
$
0.70

Net loss per share from discontinued operation attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
(0.01
)
 
$
(0.18
)
 
$
(0.01
)
 
$
—

Class B Basic
 
$
(0.01
)
 
$
(0.15
)
 
$
(0.02
)
 
$
—

Diluted
 
$
(0.01
)
 
$
(0.17
)
 
$
(0.01
)
 
$
—

Net income per share attributable to Tyson:
 
 
 
 
 
 
 
 
Class A Basic
 
$
0.50

 
$
0.27

 
$
0.72

 
$
0.77

Class B Basic
 
$
0.45

 
$
0.25

 
$
0.64

 
$
0.70

Diluted
 
$
0.48

 
$
0.26

 
$
0.68

 
$
0.70



(a) The sum of the quarterly earnings per share amounts will not equal the total for the year due to the effects of rounding and dilution impact as a result of issuing Class A shares and tangible equity units in the fourth quarter of fiscal 2014.
Third quarter fiscal 2014 net income included a $29 million pretax expense related to the Hillshire Brands acquisition fees paid to third parties, a $49 million pretax expense related to the closure of three Prepared Foods facilities and a $40 million unrecognized tax benefit gain.
Fourth quarter fiscal 2014 net income included a $42 million pretax impairment and other costs related to the sale of our Brazil operation and Mexico's undistributed earnings tax, $119 million pretax expense related to the Hillshire Brands acquisition, integration and costs associated with our Prepared Foods improvement plan, $40 million pretax expense related to the Hillshire Brands post-closing results, purchase price accounting adjustments and ongoing costs related to a legacy Hillshire Brands plant fire, $27 million pretax expense related to the Hillshire Brands acquisition financing incremental interest cost and a $12 million unrecognized tax benefit gain.
Second quarter fiscal 2013 net income included a $19 million currency translation adjustment gain recognized in conjunction with the receipt of proceeds constituting the final resolution of our investment in Canada and included a $56 million non-cash charge, reported as a discontinued operation, related to the impairment of Weifang.