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Derivative Financial Instruments (Tables)
 12 Months Ended
Sep. 27, 2014
Derivative [Line Items]  
Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value
The following table sets forth the fair value of all derivative instruments outstanding in the Consolidated Balance Sheets:
 
in millions
 
 
Fair Value
 
September 27, 2014

 
September 28, 2013

Derivative Assets:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
17

 
$
4

Foreign exchange contracts
—

 
1

Total derivative assets – designated
17

 
5

 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
42

 
25

Foreign exchange contracts
—

 
2

Total derivative assets – not designated
42

 
27

 
 
 
 
Total derivative assets
$
59

 
$
32

Derivative Liabilities:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
78

 
$
29

Foreign exchange contracts
—

 
—

Total derivative liabilities – designated
78

 
29

 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
80

 
72

Foreign exchange contracts
2

 
1

Total derivative liabilities – not designated
82

 
73

 
 
 
 
Total derivative liabilities
$
160

 
$
102
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
  
Derivative [Line Items]  
Schedule Of Notional Amount Of Derivatives
We had the following aggregated notional values of outstanding forward and option contracts accounted for as cash flow hedges:
 
 
 
 
in millions, except soy meal tons
 
 
 
Metric
 
September 27, 2014

 
September 28, 2013

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
—

 
5

Soy Meal
 
Tons
 
2,300

 
96,800

Foreign Currency
 
United States dollar
 
$
1

 
$
60
Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance
The following table sets forth the pretax impact of cash flow hedge derivative instruments in the Consolidated Statements of Income:
 
 
 
 
 
 
 
 
 
 
 
in millions
 
 
Gain/(Loss)
Recognized in OCI
on Derivatives
 
 
Consolidated
Statements of Income
Classification
 
Gain/(Loss)
Reclassified from
OCI to Earnings
 
 
2014

 
2013

 
2012

 
 
 
2014

 
2013

 
2012

Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(7
)
 
$
(29
)
 
$
24

 
Cost of Sales
 
$
(10
)
 
$
(5
)
 
$
(16
)
Foreign exchange contracts
(1
)
 
(2
)
 
(8
)
 
Other Income/Expense
 
—

 
(4
)
 
4

Total
$
(8
)
 
$
(31
)
 
$
16

 
 
 
$
(10
)
 
$
(9
)
 
$
(12
)
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
  
Derivative [Line Items]  
Schedule Of Notional Amount Of Derivatives
We had the following aggregated notional values of outstanding forward contracts entered into to hedge firm commitments which are accounted for as a fair value hedge:
 
 
 
 
 
 
in millions

 
 
Metric
 
September 27, 2014

 
September 28, 2013

Commodity:
 
 
 
 
 
 
Live Cattle
 
Pounds
 
427

 
209

Lean Hogs
 
Pounds
 
329

 
384
Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance
 
 
in millions
 
 
 
Consolidated
Statements of Income
Classification
 
2014

 
2013

 
2012

Gain/(Loss) on forwards
 
Cost of Sales
 
$
(154
)
 
$
21

 
$
47

Gain/(Loss) on purchase contract
 
Cost of Sales
 
154

 
(21
)
 
(47
)
Not Designated as Hedging Instrument [Member]
  
Derivative [Line Items]  
Schedule Of Notional Amount Of Derivatives
We had the following aggregate outstanding notional values related to our undesignated positions:
 
 
 
 
in millions, except soy meal tons
 
 
 
Metric
 
September 27, 2014

 
September 28, 2013

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
—

 
69

Soy Meal
 
Tons
 
195,800

 
204,600

Soy Oil
 
Pounds
 
3

 
11

Live Cattle
 
Pounds
 
22

 
60

Lean Hogs
 
Pounds
 
22

 
159

Foreign Currency
 
United States dollars
 
$
108

 
$
95
Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance
The following table sets forth the pretax impact of the undesignated derivative instruments in the Consolidated Statements of Income:
 
 
 
 
in millions
 
 
 
Consolidated
Statements of Income
Classification
 
Gain/(Loss)
Recognized
in Earnings
 
 
 
 
 
2014

 
2013

 
2012

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
Sales
 
$
75

 
$
(10
)
 
$
(10
)
Commodity contracts
 
Cost of Sales
 
(136
)
 
(24
)
 
51

Foreign exchange contracts
 
Other Income/Expense
 
—

 
2

 
—

Total
 
 
 
$
(61
)
 
$
(32
)
 
$
41