XML 47 R34.htm IDEA: XBRL DOCUMENT v3.10.0.1

Derivative Financial Instruments (Tables)

9 Months Ended

Jun. 30, 2018

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		June 30, 2018				September 30, 2017
Commodity:
Corn	Bushels		136				55
Soy meal	Tons		427,900				475,200
Live cattle	Pounds		71				211
Lean hogs	Pounds		90				240
Foreign currency	United States dollar		$	75			$	58
Interest rate swap	Average monthly debt		$	400			$	—

Designated as hedges | 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
	June 30, 2018				July 1, 2017						June 30, 2018				July 1, 2017
Cash flow hedge – derivatives designated as hedging instruments:
Commodity contracts	$	(13	)		$	(2	)		Cost of sales		$	—			$	—
Interest rate swaps	—				—				Interest expense		—				—
Total	$	(13	)		$	(2	)				$	—			$	—
	Gain (Loss) Recognized in OCI On Derivatives								Consolidated Condensed Statements of Income Classification		Gain (Loss) Reclassified from OCI to Earnings
	Nine Months Ended										Nine Months Ended
	June 30, 2018				July 1, 2017						June 30, 2018				July 1, 2017
Cash flow hedge – derivatives designated as hedging instruments:
Commodity contracts	$	(13	)		$	(2	)		Cost of sales		$	(3	)		$	(1	)
Interest rate swaps	—				—				Interest expense		—				—
Total	$	(13	)		$	(2	)				$	(3	)		$	(1	)

Designated as hedges | 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								Nine Months Ended
			June 30, 2018				July 1, 2017				June 30, 2018				July 1, 2017
Gain (Loss) on forwards	Cost of sales		$	11			$	(32	)		$	5			$	(16	)
Gain (Loss) on purchase contract	Cost of sales		(11		)		32				(5		)		16

Undesignated

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								Nine Months Ended
			June 30, 2018				July 1, 2017				June 30, 2018				July 1, 2017
Derivatives not designated as hedging instruments:
Commodity contracts	Sales		$	21			$	41			$	—			$	117
Commodity contracts	Cost of sales		(58		)		(57		)		(12		)		(103		)
Foreign exchange contracts	Other income/expense		(1		)		—				(3		)		—
Total			$	(38	)		$	(16	)		$	(15	)		$	14

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

+ Details

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

X

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

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

X

- Details

Name:	us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_CashFlowHedgingMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_FairValueHedgingMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: