XML 58 R41.htm IDEA: XBRL DOCUMENT v3.5.0.2

Pensions And Other Postretirement Benefits (Tables)

12 Months Ended

Oct. 01, 2016

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Schedule Of Reconciliation Of Changes In Plans' Benefit Obligations, Assets And Funded Status

The following table provides a reconciliation of the changes in the plans’ benefit obligations, assets and funded status at October 1, 2016, and October 3, 2015:

																	in millions
	Pension Benefits																Other Postretirement
	Qualified								Non-Qualified								Benefits
	2016				2015				2016				2015				2016				2015
Change in benefit obligation
Benefit obligation at beginning of year	$	1,785			$	1,849			$	201			$	182			$	114			$	163
Service cost	8				10				6				8				1				5
Interest cost	65				78				9				8				3				7
Plan amendments	—				—				—				—				(58		)		(60		)
Plan participants’ contributions	—				—				—				—				1				2
Actuarial (gain)/loss	21				(50		)		16				11				(15		)		9
Benefits paid	(339		)		(102		)		(10		)		(8		)		(10		)		(12		)
Other	14				—				—				—				—				—
Benefit obligation at end of year	1,554				1,785				222				201				36				114
Change in plan assets
Fair value of plan assets at beginning of year	1,576				1,647				—				3				—				—
Actual return on plan assets	135				25				—				—				—				—
Employer contributions	54				6				10				8				9				10
Plan participants’ contributions	—				—				—				—				1				2
Benefits paid	(339		)		(102		)		(10		)		(8		)		(10		)		(12		)
Other	14				—				—				(3		)		—				—
Fair value of plan assets at end of year	1,440				1,576				—				—				—				—
Funded status	$	(114	)		$	(209	)		$	(222	)		$	(201	)		$	(36	)		$	(114	)

Schedule Of Amounts Recognized In The Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets consist of:

																	in millions
	Pension Benefits																Other Postretirement
	Qualified								Non-Qualified								Benefits
	2016				2015				2016				2015				2016				2015
Other current liabilities	$	—			$	—			$	(9	)		$	(9	)		$	(4	)		$	(20	)
Other liabilities	(114		)		(209		)		(213		)		(192		)		(32		)		(94		)
Total liabilities	$	(114	)		$	(209	)		$	(222	)		$	(201	)		$	(36	)		$	(114	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

Amounts recognized in Accumulated Other Comprehensive Income consist of:

																	in millions
	Pension Benefits																Other Postretirement
	Qualified								Non-Qualified								Benefits
	2016				2015				2016				2015				2016				2015
Accumulated other comprehensive (income)/loss:
Actuarial loss	$	17			$	57			$	55			$	43			$	—			$	—
Prior service (credit) (a)	—				—				—				—				(98		)		(59		)
Total accumulated other comprehensive (income)/loss:	$	17			$	57			$	55			$	43			$	(98	)		$	(59	)

(a) The change in prior service credit is primarily attributed to the plan amendments to the other postretirement benefits as noted within the change in benefit obligation with remainder of the change being immaterial.

Schedule Of Plans With Accumulated Benefit Obligations In Excess Of Plan Assets

Plans with accumulated benefit obligations in excess of plan assets are as follows:

									in millions
	Pension Benefits
	Qualified								Non-Qualified
	2016				2015				2016				2015
Projected benefit obligation	$	1,550			$	1,781			$	222			$	201
Accumulated benefit obligation	1,550				1,781				207				193
Fair value of plan assets	1,436				1,572				—				—

Schedule Of Components Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans Recognized In The Consolidated Statements Of Income

Components of net periodic benefit cost (credit) for pension and postretirement benefit plans recognized in the Consolidated Statements of Income are as follows:

																													in millions
	Pension Benefits																								Other Postretirement
	Qualified												Non-Qualified												Benefits
	2016				2015				2014				2016				2015				2014				2016				2015				2014
Service cost	$	8			$	10			$	1			$	6			$	8			$	7			$	1			$	5			$	2
Interest cost	65				78				10				9				8				5				3				7				3
Expected return on plan assets	(65		)		(102		)		(13		)		—				—				—				—				—				—
Amortization of prior service cost	—				—				—				—				—				—				(20		)		(1		)		—
Recognized actuarial loss (gain), net	2				2				2				5				4				2				(15		)		9				(8		)
Recognized settlement loss (gain)	(12		)		8				—				—				—				—				—				(2		)		—
Net periodic benefit cost (credit)	$	(2	)		$	(4	)		$	—			$	20			$	20			$	14			$	(31	)		$	18			$	(3	)

Schedule Of Weighted Average Assumptions

Weighted average assumptions are as follows:

	Pension Benefits																		Other Postretirement
	Qualified									Non-Qualified									Benefits
	2016			2015			2014			2016			2015			2014			2016			2015			2014
Discount rate to determine net periodic benefit cost	4.47	%		4.32	%		4.37	%		4.41	%		4.36	%		5.01	%		3.54	%		3.97	%		4.41	%
Discount rate to determine benefit obligations	3.72	%		4.47	%		4.32	%		3.77	%		4.41	%		4.36	%		3.09	%		3.54	%		3.97	%
Rate of compensation increase	n/a			0.01	%		0.01	%		2.46	%		2.31	%		2.11	%		n/a			n/a			n/a
Expected return on plan assets	4.15	%		4.61	%		6.37	%		n/a			n/a			n/a			n/a			n/a			n/a

Schedule of Health Care Cost Trend Rates

A one-percentage-point change in assumed health-care cost trend rates would have the following effects:

					in millions
	One Percentage Point Increase				One Percentage Point Decrease
Effect on postretirement benefit obligation	$	1			$	1

Schedule Of Actual And Target Asset Allocation For Pension Plan Assets

The following table sets forth the actual and target asset allocation for pension plan assets:

	2016			2015			Target Asset Allocation
Cash	0.9	%		0.3	%		—	%
Fixed Income Securities	85.4			85.4			86.0
United States Stock Funds	3.7			3.9			4.0
International Stock Funds	6.2			6.8			6.5
Real Estate	3.8			3.6			3.5
Total	100.0	%		100.0	%		100.0	%

Schedule Of Categories Of Pension Plan Assets And Level Under Which Fair Values Were Determined In Fair Value Hierarchy

The following tables show the categories of pension plan assets and the level under which fair values were determined in the fair value hierarchy, which is described in Note 12: Fair Value Measurements.

	in millions
October 1, 2016	Level 1				Level 2				Level 3				Total
Cash and cash equivalents	$	13			$	—			$	—			$	13
Insurance contract at contract value (a)	—				—				28				28
Total assets in fair value hierarchy	$	13			$	—			$	28			$	41
Investments measured at net asset value:
Common collective trusts (b)													$	1,399
Total plan assets													$	1,440

	in millions
October 3, 2015	Level 1				Level 2				Level 3				Total
Cash and cash equivalents	$	5			$	—			$	—			$	5
Insurance contract at contract value (a)	—				—				14				14
Total assets in fair value hierarchy	$	5			$	—			$	14			$	19
Investments measured at net asset value:
Common collective trusts (b)													$	1,557
Total plan assets													$	1,576

(a) We classify insurance contracts as Level 3 as there is limited activity or less observable inputs into valuation models, including current interest rates and estimated prepayment, default and recovery rates on the underlying portfolio or structured investment vehicle. The insurance contracts are valued using the plan’s own assumptions about the assumptions market participants would use in pricing the assets based on the best information available, such as investment manager pricing. Significant changes to assumptions or unobservable inputs in the valuation of our Level 3 instruments would not have a significant impact to our consolidated financial statements.

(b) Funds that are measured at fair value using the net asset value (NAV) per share practical expedient have not been categorized in the fair value hierarchy. The amounts presented above are intended to permit reconciliation of the fair value hierarchy to the fair value of total plan assets in order to determine the amounts included in Other Liabilities in the Consolidated Balance Sheets.

Schedule Of Reconciliation Of Change In Fair Value Measurement Of Defined Benefit Plans' Consolidated Assets Using Significant Unobservable Inputs

A reconciliation of the change in the fair value measurement of the defined benefit plans’ consolidated assets using significant unobservable inputs (Level 3) is as follows:

						in millions
		Insurance contract				Total
Balance at October 3, 2015		$	14			14
Actual return on plan assets:
Assets still held at reporting date		—				—
Assets sold during the period		—				—
Purchases, sales and settlements, net		14				14
Transfers in and/or out of Level 3		—				—
Balance at October 1, 2016		$	28			$	28

Schedule Of Estimated Future Benefit Payments Expected To Be Paid

The following benefit payments are expected to be paid:

									in millions
	Pension Benefits								Other Postretirement
	Qualified				Non-Qualified				Benefits
2017	$	86			$	9			$	5
2018	82				9				3
2019	83				9				3
2020	84				10				3
2021	85				11				3
2022-2026	434				62				13

Schedule of Multiemployer Plans

In addition to regular contributions, we could be obligated to pay additional contributions (known as complete or partial withdrawal liabilities) if it has unfunded vested benefits.

PPA Zone Status

FIP/RP Status

Contributions (in millions)

Surcharge Imposed

Pension Fund Plan Name

EIN/Pension Plan Number

2016

2015

Implemented

2016

2015

2016

Expiration Date of Collective Bargaining Agreement(a)

Bakery and Confectionery Union and Industry International Pension Fund

52-6118572/001

Red

Red

Nov 2012

$1

$1

10%

October 2015

(a) Renewal negotiations are in progress.

X

- Definition

Schedule Of Actual And Target Asset Allocation For Pension Plan Assets [Table Text Block]

+ References

No definition available.

+ Details

Name:	tsn_ScheduleOfActualAndTargetAssetAllocationForPensionPlanAssetsTableTextBlock
Namespace Prefix:	tsn_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_GeneralDiscussionOfPensionAndOtherPostretirementBenefitsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2417-114920

+ Details

Name:	us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (k)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2439-114920

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2417-114920

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=73719040&loc=d3e4179-114921

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfHealthCareCostTrendRatesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the quantitative and qualitative information related to multiemployer plans in which the employer participates. A multiemployer plan is a pension or postretirement benefit plan to which two or more unrelated employers contribute where assets contributed by one participating employer may be used to provide benefits to employees of other participating employers.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

+ Details

Name:	us-gaap_ScheduleOfMultiemployerPlansTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration