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Derivative Financial Instruments (Tables)

12 Months Ended

Oct. 02, 2021

Schedule of Income Statement Items Impacted by Derivatives [Line Items]

Schedule of Income Statement Items Impacted by Derivatives [Table Text Block]

The following table sets forth the total amounts of each income and expense line item presented in the Consolidated Statements of Income in which the effects of hedges are recorded (in millions):

Consolidated Statements of Income Classification			2021						2020						2019
Cost of Sales			$	40,523					$	37,801					$	37,383
Interest Expense			428						485						462
Other, net			(65)						(131)						(55)

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 2, 2021						October 3, 2020
Commodity:
Corn						Bushels						37						43
Soybean Meal						Tons						1,026,733						428,300
Live Cattle						Pounds						417						234
Lean Hogs						Pounds						413						283
Foreign Currency						United States dollar						$	130					$	536

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						2021						2020						2019
Sales			Gain (Loss) on derivatives not designated as hedging instruments:
			Commodity contracts			$	—					$	—					$	(23)
Cost of Sales			Gain (Loss) on cash flow hedges reclassified from OCI to Earnings:
			Commodity contracts			$	(1)					$	(24)					$	(18)
			Gain (Loss) on fair value hedges:
			Commodity contracts (a)			(55)						135						42
			Gain (Loss) on derivatives not designated as hedging instruments:
			Commodity contracts			70						(103)						2
Total						$	14					$	8					$	26
Interest Expense			Gain (Loss) on cash flow hedges reclassified from OCI to Earnings:
			Interest rate contracts			$	(1)					$	(6)					$	(1)
Other, net			Gain (Loss) on derivatives not designated as hedging instruments:
			Foreign exchange contracts			$	(5)					$	(5)					$	8

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			2021						2020						2019
Cash Flow Hedge – Derivatives designated as hedging instruments:
Commodity contracts			$	—					$	(17)					$	(15)
Interest rate hedges			—						—						(24)
Total			$	—					$	(17)					$	(39)

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 2021, 2020 and 2019 were as follows (in millions):

Consolidated Balance Sheets Classification			2021						2020						2019
Inventory			$	(6)					$	6					$	(19)

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