XML 84 R35.htm IDEA: XBRL DOCUMENT
v3.19.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 28, 2019
Income Tax Disclosure [Abstract] |
Schedule Of Provision For Income Taxes From Continuing Operations | Detail of the provision for income taxes from continuing operations consists of the following:
|  |  |  |  | in millions |
| 2019 |  |  | 2018 |  |  | 2017 |
Federal | $ | 325 |  |  | $ | (426 | ) |  | $ | 755 |
State | 42 |  |  | 118 |  |  | 81 |
Foreign | 29 |  |  | 26 |  |  | 14 |
| $ | 396 |  |  | $ | (282 | ) |  | $ | 850 |
Current | $ | 304 |  |  | $ | 583 |  |  | $ | 889 |
Deferred | 92 |  |  | (865 | ) |  | (39 | )
| $ | 396 |  |  | $ | (282 | ) |  | $ | 850 |
Schedule Of Reasons For Differences Between Statutory Federal Tax Rate And Effective Income Tax Rate | The reasons for the difference between the statutory federal income tax rate and our effective income tax rate from continuing operations are as follows:
| 2019 |  |  | 2018 |  |  | 2017 |
Federal income tax rate | 21.0 | % |  | 24.5 | % |  | 35.0 | %
State income taxes | 2.9 |  |  | 3.3 |  |  | 2.3 |
Unrecognized tax benefits, net | (6.6 | ) |  | (0.1 | ) |  | (0.1 | )
Impact of the Tax Act | — |  |  | (37.9 | ) |  | — |
Domestic production deduction | — |  |  | (1.7 | ) |  | (3.1 | )
Impairment and sale of non-protein businesses | — |  |  | 3.1 |  |  | — |
Other | (1.0 | ) |  | (1.5 | ) |  | (1.8 | )
| 16.3 | % |  | (10.3 | )% |  | 32.3 | %
Schedule Of Tax Effects Of Major Items Recorded As Deferred Tax Assets And Liabilities | The tax effects of major items recorded as deferred tax assets and liabilities as of September 28, 2019, and September 29, 2018, are as follows:
|  |  |  |  |  |  | in millions |
| 2019 |  | 2018
| Deferred Tax |  | Deferred Tax
| Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Property, plant and equipment | $ | — |  |  | $ | 891 |  |  | $ | — |  |  | $ | 714 |
Intangible assets | — |  |  | 1,624 |  |  | — |  |  | 1,533 |
Accrued expenses | 297 |  |  | — |  |  | 230 |  |  | — |
Net operating loss and other carryforwards | 99 |  |  | — |  |  | 92 |  |  | — |
Other | 84 |  |  | 231 |  |  | 98 |  |  | 193 |
| $ | 480 |  |  | $ | 2,746 |  |  | $ | 420 |  |  | $ | 2,440 |
Valuation allowance | $ | (86 | ) |  |  |  | $ | (79 | ) |  |
Net deferred tax liability |  |  | $ | 2,352 |  |  |  |  | $ | 2,099 |
Schedule Of Activity Related To Gross Unrecognized Tax Benefits | The following table summarizes the activity related to our gross unrecognized tax benefits at September 28, 2019, September 29, 2018, and September 30, 2017:
|  |  |  |  | in millions |
| 2019 |  |  | 2018 |  |  | 2017 |
Balance as of the beginning of the year | $ | 308 |  |  | $ | 316 |  |  | $ | 305 |
Increases related to current year tax positions | 20 |  |  | 19 |  |  | 38 |
Increases related to prior year tax positions | 21 |  |  | 8 |  |  | 5 |
Increase related to AdvancePierre acquisition | — |  |  | — |  |  | 9 |
Reductions related to prior year tax positions | (17 | ) |  | (18 | ) |  | (27 | )
Reductions related to settlements | (9 | ) |  | (8 | ) |  | (4 | )
Reductions related to expirations of statutes of limitations | (154 | ) |  | (9 | ) |  | (10 | )
Balance as of the end of the year | $ | 169 |  |  | $ | 308 |  |  | $ | 316 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration