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Business And Summary Of Significant Accounting Policies (Tables) | 12 Months Ended
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Oct. 03, 2020
Accounting Policies [Abstract] |
Inventories | The following table reflects the major components of inventory at October 3, 2020, and September 28, 2019 (in millions):
| 2020 |  | 2019
Processed products | $ | 2,223 |  |  | $ | 2,362 |
Livestock(1) | 977 |  |  | 971 |
Supplies and other | 659 |  |  | 596 |
Total inventory | $ | 3,859 |  |  | $ | 3,929 |
(1) As of October 3, 2020 the Livestock amounts have changed from $1,262 million as originally reported to $977 million as revised and as of September 28, 2019 have changed from $1,150 million as originally reported to $971 million as revised as further discussed below in the section “Revision.”
Other Current Liabilities | Other Current Liabilities: Other current liabilities at October 3, 2020, and September 28, 2019, include (in millions):
| 2020 |  | 2019
Accrued salaries, wages and benefits | $ | 823 |  |  | $ | 620 |
Other | 987 |  |  | 865 |
Total other current liabilities | $ | 1,810 |  |  | $ | 1,485 |
Schedule of Error Corrections and Prior Period Adjustments | The following tables reflect the impact of this revision on our consolidated financial statements as of and for the fiscal years indicated:
Consolidated Balance Sheets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | in millions |  |  |  |  |
|  |  |  |  |  |  | As of October 3, 2020 |  | As of September 28, 2019 |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  | As originally reported | Adjustments | As revised |  | As originally reported | Adjustments | As revised |  |  |  |  |
Inventories |  |  |  |  |  |  |  |  |  |  |  |  | $ | 4,144 |  | $ | (285) |  | $ | 3,859 |  |  | $ | 4,108 |  | $ | (179) |  | $ | 3,929 |  |  |  |  |  |
Total Current Assets |  |  |  |  |  |  |  |  |  |  |  |  | 7,883 |  | (285) |  | 7,598 |  |  | 7,169 |  | (179) |  | 6,990 |  |  |  |  |  |
Total Assets |  |  |  |  |  |  |  |  |  |  |  |  | 34,741 |  | (285) |  | 34,456 |  |  | 33,097 |  | (179) |  | 32,918 |  |  |  |  |  |
Deferred Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  | 2,391 |  | (74) |  | 2,317 |  |  | 2,356 |  | (47) |  | 2,309 |  |  |  |  |  |
Retained Earnings (a) |  |  |  |  |  |  |  |  |  |  |  |  | 15,311 |  | (211) |  | 15,100 |  |  | 13,787 |  | (132) |  | 13,655 |  |  |  |  |  |
Total Tyson Shareholders' Equity |  |  |  |  |  |  |  |  |  |  |  |  | 15,465 |  | (211) |  | 15,254 |  |  | 14,082 |  | (132) |  | 13,950 |  |  |  |  |  |
Total Shareholders' Equity |  |  |  |  |  |  |  |  |  |  |  |  | 15,597 |  | (211) |  | 15,386 |  |  | 14,226 |  | (132) |  | 14,094 |  |  |  |  |  |
Total Liabilities and Shareholders' Equity |  |  |  |  |  |  |  |  |  |  |  |  | 34,741 |  | (285) |  | 34,456 |  |  | 33,097 |  | (179) |  | 32,918 |  |  |  |  |  |
Consolidated Statements of Income |  |  |  |  | in millions |
|  |  |  |  |  |  |  |  |  |  |  |  | Year ended October 3, 2020 |  | Year ended September 28, 2019 |  | Year ended September 29, 2018 |
|  |  |  |  |  |  |  |  |  |  |  |  | As originally reported | Adjustments | As revised |  | As originally reported | Adjustments | As revised |  | As originally reported | Adjustments | As revised |
Selling, General and Administrative |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,270 |  | $ | 106 |  | $ | 2,376 |  |  | $ | 2,195 |  | $ | 57 |  | $ | 2,252 |  |  | $ | 2,064 |  | $ | 63 |  | $ | 2,127 |  |
Operating Income |  |  |  |  |  |  |  |  |  |  |  |  | 3,114 |  | (106) |  | 3,008 |  |  | 2,827 |  | (57) |  | 2,770 |  |  | 3,032 |  | (63) |  | 2,969 |  |
Income before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  | 2,770 |  | (106) |  | 2,664 |  |  | 2,431 |  | (57) |  | 2,374 |  |  | 2,745 |  | (63) |  | 2,682 |  |
Income Tax Expense (Benefit) |  |  |  |  |  |  |  |  |  |  |  |  | 620 |  | (27) |  | 593 |  |  | 396 |  | (15) |  | 381 |  |  | (282) |  | (9) |  | (291) |  |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | 2,150 |  | (79) |  | 2,071 |  |  | 2,035 |  | (42) |  | 1,993 |  |  | 3,027 |  | (54) |  | 2,973 |  |
Net Income Attributable to Tyson |  |  |  |  |  |  |  |  |  |  |  |  | 2,140 |  | (79) |  | 2,061 |  |  | 2,022 |  | (42) |  | 1,980 |  |  | 3,024 |  | (54) |  | 2,970 |  |
Net Income Per Share Attributable to Tyson: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6.02 |  | $ | (0.23) |  | $ | 5.79 |  |  | $ | 5.67 |  | $ | (0.11) |  | $ | 5.56 |  |  | $ | 8.44 |  | $ | (0.15) |  | $ | 8.29 |  |
Class B |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5.41 |  | $ | (0.20) |  | $ | 5.21 |  |  | $ | 5.10 |  | $ | (0.11) |  | $ | 4.99 |  |  | $ | 7.59 |  | $ | (0.13) |  | $ | 7.46 |  |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5.86 |  | $ | (0.22) |  | $ | 5.64 |  |  | $ | 5.52 |  | $ | (0.12) |  | $ | 5.40 |  |  | $ | 8.19 |  | $ | (0.15) |  | $ | 8.04 |  |
Consolidated Statements of Comprehensive Income |  |  |  |  | in millions |
|  |  |  |  |  |  |  |  |  |  |  |  | Year ended October 3, 2020 |  | Year ended September 28, 2019 |  | Year ended September 29, 2018 |
|  |  |  |  |  |  |  |  |  |  |  |  | As originally reported | Adjustments | As revised |  | As originally reported | Adjustments | As revised |  | As originally reported | Adjustments | As revised |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,150 |  | $ | (79) |  | $ | 2,071 |  |  | $ | 2,035 |  | $ | (42) |  | $ | 1,993 |  |  | $ | 3,027 |  | $ | (54) |  | $ | 2,973 |  |
Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  | 2,088 |  | (79) |  | 2,009 |  |  | 1,933 |  | (42) |  | 1,891 |  |  | 2,983 |  | (54) |  | 2,929 |  |
Comprehensive Income Attributable to Tyson |  |  |  |  |  |  |  |  |  |  |  |  | 2,078 |  | (79) |  | 1,999 |  |  | 1,920 |  | (42) |  | 1,878 |  |  | 2,980 |  | (54) |  | 2,926 |  |
Consolidated Statements of Cash Flows |  |  |  |  | in millions |
|  |  |  |  |  |  |  |  |  |  |  |  | Year ended October 3, 2020 |  | Year ended September 28, 2019 |  | Year ended September 29, 2018 |
|  |  |  |  |  |  |  |  |  |  |  |  | As originally reported | Adjustments | As revised |  | As originally reported | Adjustments | As revised |  | As originally reported | Adjustments | As revised |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,150 |  | $ | (79) |  | $ | 2,071 |  |  | $ | 2,035 |  | $ | (42) |  | $ | 1,993 |  |  | $ | 3,027 |  | $ | (54) |  | $ | 2,973 |  |
Deferred Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  | 45 |  | (27) |  | 18 |  |  | 92 |  | (15) |  | 77 |  |  | (865) |  | (9) |  | (874) |  |
(Increase) decrease in inventories |  |  |  |  |  |  |  |  |  |  |  |  | (20) |  | 106 |  | 86 |  |  | (214) |  | 57 |  | (157) |  |  | (207) |  | 63 |  | (144) |  |

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