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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

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