XML 59 R42.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Financial Instruments (Tables)
 12 Months Ended
Oct. 03, 2020
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 soybean meal tons
 
 
 
Metric
 
October 3, 2020

 
September 28, 2019

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
43

 
111

Soybean Meal
 
Tons
 
428,300

 
1,078,800

Live Cattle
 
Pounds
 
234

 
14

Lean Hogs
 
Pounds
 
283

 
309

Foreign Currency
 
United States dollar
 
$
536

 
$
148

Interest Rate Swaps
 
Average monthly debt
 
$
—

 
$
400
Derivative Instruments, Gain (Loss)
The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Statements of Income (in millions):
Consolidated Statements of Income Classification
2020

 
2019

 
2018

Sales
Gain (Loss) on derivatives not designated as hedging instruments:
 
 
 
 
 
 
Commodity contracts
$
—

 
$
(23
)
 
$
18

 
 
 
 
 
 
 
Cost of Sales
Gain (Loss) on cash flow hedges reclassified from OCI to Earnings:
 
 
 
 
 
 
Commodity contracts
$
(24
)
 
$
(18
)
 
$
(12
)
 
Gain (Loss) on fair value hedges:
 
 
 
 
 
 
Commodity contracts (a)
135

 
42

 
12

 
Gain (Loss) on derivatives not designated as hedging instruments:
 
 
 
 
 
 
Commodity contracts
(103
)
 
2

 
(33
)
Total
 
$
8

 
$
26

 
$
(33
)
 
 
 
 
 
 
 
Interest Expense
Gain (Loss) on cash flow hedges reclassified from OCI to Earnings:
 
 
 
 
 
 
Interest rate contracts
$
(6
)
 
$
(1
)
 
$
—

 
 
 
 
 
 
 
Other, net
Gain (Loss) on derivatives not designated as hedging instruments:
 
 
 
 
 
 
Foreign exchange contracts
$
(5
)
 
$
8

 
$
(3
)
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss) The following table sets forth the pretax impact of cash flow hedge derivative instruments in Other Comprehensive Income (in millions):
Gain (Loss) Recognized in OCI on Derivatives
2020

 
2019

 
2018

Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
Commodity contracts
$
(17
)
 
$
(15
)
 
$
(21
)
Interest rate hedges
—

 
(24
)
 
1

Total
$
(17
)
 
$
(39
)
 
$
(20
)
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]  
Derivative [Line Items]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] The carrying amount of fair value hedge (assets) liabilities as of fiscal 2020, 2019 and 2018 were as follows (in millions):
Consolidated Balance Sheets Classification
2020

 
2019

 
2018

Inventory
6

 
(19
)
 
4