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Derivative Financial Instruments (Tables)
 6 Months Ended
Apr. 01, 2017
Derivative [Line Items]  
Schedule Of Notional Amount Of Derivatives
We had the following aggregated outstanding notional amounts related to our derivative financial instruments (in millions, except soy meal tons):
 
Metric
 
April 1, 2017
 
October 1, 2016
Commodity:
 
 
 
 
 
Corn
Bushels
 
56

 
50

Soy meal
Tons
 
1,200,300

 
389,700

Live cattle
Pounds
 
419

 
28

Lean hogs
Pounds
 
218

 
158

Foreign currency
United States dollar
 
$
44

 
$
38
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table sets forth the pretax impact of cash flow hedge derivative instruments on the Consolidated Condensed Statements of Income (in millions):
 
Gain (Loss)
Recognized in OCI
On Derivatives
 
 
Consolidated Condensed
Statements of Income
Classification
 
Gain (Loss)
Reclassified from
OCI to Earnings
 
 
Three Months Ended
 
 
 
Three Months Ended
 
April 1, 2017
 
April 2, 2016
 
 
 
April 1, 2017
 
April 2, 2016
Cash flow hedge – derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(1
)
 
$
—

 
Cost of sales
 
$
3

 
$
(1
)
Foreign exchange contracts
—

 
—

 
Other income/expense
 
—

 
—

Total
$
(1
)
 
$
—

 
 
 
$
3

 
$
(1
)
 
 
 
 
 
 
 
 
 
 
 
Gain (Loss)
Recognized in OCI
On Derivatives
 
 
Consolidated Condensed
Statements of Income
Classification
 
Gain (Loss)
Reclassified from
OCI to Earnings
 
 
Six Months Ended
 
 
 
Six Months Ended
 
April 1, 2017
 
April 2, 2016
 
 
 
April 1, 2017
 
April 2, 2016
Cash flow hedge – derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$
—

 
$
(2
)
 
Cost of sales
 
$
(1
)
 
$
(2
)
Foreign exchange contracts
—

 
—

 
Other income/expense
 
—

 
—

Total
$
—

 
$
(2
)
 
 
 
$
(1
)
 
$
(2
)
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block]
 
 
 
 
 
 
 
in millions

 
Consolidated Condensed
Statements of Income
Classification
 
Three Months Ended
 
Six Months Ended
 
 
April 1, 2017
 
April 2, 2016
 
April 1, 2017
 
April 2, 2016
Gain (Loss) on forwards
Cost of sales
 
$
(12
)
 
$
6

 
$
16

 
$
39

Gain (Loss) on purchase contract
Cost of sales
 
12

 
(6
)
 
(16
)
 
(39
)
Not Designated as Hedging Instrument [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table sets forth the pretax impact of the undesignated derivative instruments in the Consolidated Condensed Statements of Income (in millions):
 
Consolidated Condensed
Statements of Income
Classification
 
Gain (Loss)
Recognized in Earnings
 
 
Gain (Loss)
Recognized in Earnings
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
April 1, 2017
 
April 2, 2016
 
April 1, 2017
 
April 2, 2016
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
Sales
 
$
25

 
$
(16
)
 
$
76

 
$
(7
)
Commodity contracts
Cost of sales
 
(45
)
 
7

 
(46
)
 
(8
)
Foreign exchange contracts
Other income/expense
 
—

 
1

 
—

 
1

Total
 
 
$
(20
)
 
$
(8
)
 
$
30

 
$
(14
)