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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Oct. 03, 2020
Quarterly Financial Data [Abstract] |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED)
|  |  | in millions, except per share data |
| First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
2020 |  |  |  |  |  |  |
Sales | $ | 10,815 |  |  | $ | 10,888 |  |  | $ | 10,022 |  |  | $ | 11,460 |
Gross profit | 1,440 |  |  | 1,021 |  |  | 1,313 |  |  | 1,610 |
Operating income | 826 |  |  | 501 |  |  | 775 |  |  | 1,012 |
Net income | 561 |  |  | 367 |  |  | 527 |  |  | 695 |
Net income attributable to Tyson | 557 |  |  | 364 |  |  | 527 |  |  | 692 |
Net income per share attributable to Tyson: |  |  |  |  |  |  |
Class A Basic | $ | 1.56 |  |  | $ | 1.03 |  |  | $ | 1.48 |  |  | $ | 1.95 |
Class B Basic | $ | 1.40 |  |  | $ | 0.92 |  |  | $ | 1.33 |  |  | $ | 1.76 |
Diluted | $ | 1.52 |  |  | $ | 1.00 |  |  | $ | 1.44 |  |  | $ | 1.90 |
2019 |  |  |  |  |  |  |
Sales | $ | 10,193 |  |  | $ | 10,443 |  |  | $ | 10,885 |  |  | $ | 10,884 |
Gross profit | 1,355 |  |  | 1,192 |  |  | 1,336 |  |  | 1,139 |
Operating income | 807 |  |  | 635 |  |  | 781 |  |  | 604 |
Net income | 552 |  |  | 430 |  |  | 681 |  |  | 372 |
Net income attributable to Tyson | 551 |  |  | 426 |  |  | 676 |  |  | 369 |
Net income per share attributable to Tyson: |  |  |  |  |  |  |
Class A Basic | $ | 1.54 |  |  | $ | 1.20 |  |  | $ | 1.90 |  |  | $ | 1.03 |
Class B Basic | $ | 1.39 |  |  | $ | 1.07 |  |  | $ | 1.71 |  |  | $ | 0.93 |
Diluted | $ | 1.50 |  |  | $ | 1.17 |  |  | $ | 1.84 |  |  | $ | 1.01 |
First quarter fiscal 2020 net income included $52 million pretax restructuring and related charges and $16 million pretax Beef production facility fire costs, net of insurance proceeds. Second quarter fiscal 2020 net income included $110 million pretax gain from pension plan terminations. Third quarter fiscal 2020 net income included $15 million pretax Beef production facility fire insurance proceeds, net of costs and $6 million pretax gain from pension plan terminations. Fourth quarter fiscal 2020 net income included $23 million pretax restructuring and related charges and $65 million pretax income related to our accounting cycle resulting in a 53-week year in fiscal 2020. First quarter fiscal 2019 net income included $26 million pretax Keystone Foods purchase accounting and acquisition related costs, which included an $11 million purchase accounting adjustment for the amortization of the fair value step-up of inventory and $15 million of acquisition related costs, and $8 million pretax restructuring and related charges. Second quarter fiscal 2019 net income included $11 million pretax Keystone Foods acquisition related costs and $8 million pretax restructuring and related charges. Third quarter fiscal 2019 net income included $105 million post tax recognition of previously unrecognized tax benefit, $55 million pretax gain on sale of an investment and $15 million pretax restructuring and related charges. Fourth quarter fiscal 2019 net income included $31 million pretax Beef production facility fire costs, a $41 million pretax impairment charge related to the divestiture of a business, $15 million pretax pension plan termination charge and $10 million pretax restructuring and related charges.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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