XML 47 R35.htm IDEA: XBRL DOCUMENT
v3.19.2

Derivative Financial Instruments (Tables) | 9 Months Ended
--- | ---
Jun. 29, 2019
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 29, 2019 |  | September 29, 2018
Commodity: |  |  |  |  |
Corn | Bushels |  | 112 |  |  | 112 |
Soy Meal | Tons |  | 817,400 |  |  | 651,700 |
Live Cattle | Pounds |  | 162 |  |  | 105 |
Lean Hogs | Pounds |  | 501 |  |  | 39 |
Foreign Currency | United States dollar |  | $ | 212 |  |  | $ | 89 |
Interest Rate Swaps | Average monthly debt |  | $ | 400 |  |  | $ | 400 |
Designated as hedges | Cash Flow Hedging [Member] |
Derivative [Line Items] |
Derivative Instruments, Gain (Loss) [Table Text Block] | The following tables set 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 29, 2019 |  | June 30, 2018 |  |  |  | June 29, 2019 |  | June 30, 2018
Cash flow hedge – derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | 5 |  |  | $ | (13 | ) |  | Cost of Sales |  | $ | (3 | ) |  | $ | — |
Interest rate hedges | (1 | ) |  | — |  |  | Interest expense |  | (1 | ) |  | — |
Total | $ | 4 |  |  | $ | (13 | ) |  |  |  | $ | (4 | ) |  | $ | — |
| 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 29, 2019 |  | June 30, 2018 |  |  |  | June 29, 2019 |  | June 30, 2018
Cash flow hedge – derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | (2 | ) |  | $ | (13 | ) |  | Cost of sales |  | $ | (15 | ) |  | $ | (3 | )
Interest rate hedges | (24 | ) |  | — |  |  | Interest expense |  | (1 | ) |  | — |
Total | $ | (26 | ) |  | $ | (13 | ) |  |  |  | $ | (16 | ) |  | $ | (3 | )
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 29, 2019 |  | June 30, 2018 |  | June 29, 2019 |  | June 30, 2018
Gain (Loss) on forwards | Cost of Sales |  | $ | 8 |  |  | $ | 11 |  |  | $ | 8 |  |  | $ | 5 |
Gain (Loss) on purchase contract | Cost of Sales |  | (8 | ) |  | (11 | ) |  | (8 | ) |  | (5 | )
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):
|  |  | Gain (Loss) Recognized in Earnings |  |  | Gain (Loss) Recognized in Earnings |
| Consolidated Condensed Statements of Income Classification |  | Three Months Ended |  | Nine Months Ended
|  | June 29, 2019 |  | June 30, 2018 |  | June 29, 2019 |  | June 30, 2018
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |
Commodity contracts | Sales |  | $ | (42 | ) |  | $ | 21 |  |  | $ | (28 | ) |  | $ | — |
Commodity contracts | Cost of Sales |  | 97 |  |  | (58 | ) |  | 76 |  |  | (12 | )
Foreign exchange contracts | Other Income/Expense |  | 4 |  |  | (1 | ) |  | 7 |  |  | (3 | )
Total |  |  | $ | 59 |  |  | $ | (38 | ) |  | $ | 55 |  |  | $ | (15 | )

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: |