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Segment Reporting | 3 Months Ended
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Jan. 02, 2021
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING We operate in four reportable segments: Beef, Pork, Chicken, and Prepared Foods. We measure segment profit as operating income (loss). International/Other primarily includes our foreign operations in Australia, China, Malaysia, Mexico, the Netherlands, South Korea and Thailand, third-party merger and integration costs and corporate overhead related to Tyson New Ventures, LLC. Beef: Beef includes our operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal cuts and case-ready products. Products are marketed domestically to consumer products and food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international export markets. This segment also includes sales from allied products such as hides and variety meats, as well as logistics operations to move products through the supply chain. Pork: Pork includes our operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and case-ready products. Products are marketed domestically to consumer products and food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international export markets. This segment also includes our live swine group, related allied product processing activities and logistics operations to move products through the supply chain. Chicken: Chicken includes our domestic operations related to raising and processing live chickens into, and purchasing raw materials for, fresh, frozen and value-added chicken products, as well as sales from allied products. Our value-added chicken products primarily include breaded chicken strips, nuggets, patties, tenders, wings and other ready-to-fix or fully cooked chicken parts. Products are marketed domestically to consumer products and food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities, the military and other food processors, as well as to international export markets. This segment also includes logistics operations to move products through our domestic supply chain and the global operations of our chicken breeding stock subsidiary. Prepared Foods: Prepared Foods includes our operations related to manufacturing and marketing frozen and refrigerated food products and logistics operations to move products through the supply chain. This segment includes brands such as Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, State Fair®, as well as artisanal brands Aidells®, and Gallo Salame®. Products primarily include ready-to-eat sandwiches, sandwich components such as flame-grilled hamburgers and Philly steaks, pepperoni, bacon, breakfast sausage, turkey, lunchmeat, hot dogs, flour and corn tortilla products, appetizers, snacks, prepared meals, ethnic foods, side dishes, meat dishes, breadsticks and processed meats. Products are marketed domestically to consumer products and food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities, the military and other food processors, as well as to international export markets. We allocate expenses related to corporate activities to the segments, except for third-party merger and integration costs and corporate overhead related to Tyson New Ventures, LLC, which are included in International/Other. Intersegment transactions, which were at market prices, are included in the segment sales in the table below. Information on segments and a reconciliation to income before income taxes are as follows (in millions):
| Three Months Ended |  |  |
| January 2, 2021 |  | December 28, 2019 |  |  |  |  |
Sales: |  |  |  |  |  |  |  |
Beef | $ | 3,987 |  |  | $ | 3,838 |  |  |  |  |  |
Pork | 1,439 |  |  | 1,379 |  |  |  |  |  |
Chicken | 2,831 |  |  | 3,292 |  |  |  |  |  |
Prepared Foods | 2,113 |  |  | 2,140 |  |  |  |  |  |
International/Other | 469 |  |  | 498 |  |  |  |  |  |
Intersegment | (379) |  |  | (332) |  |  |  |  |  |
Total sales | $ | 10,460 |  |  | $ | 10,815 |  |  |  |  |  |
| Three Months Ended |  |  |
| January 2, 2021 |  | December 28, 2019 |  |  |  |  |
Operating income (loss): |  |  |  |  |  |  |  |
Beef(a) | $ | 528 |  |  | $ | 342 |  |  |  |  |  |
Pork | 116 |  |  | 191 |  |  |  |  |  |
Chicken(b) | (216) |  |  | 57 |  |  |  |  |  |
Prepared Foods | 266 |  |  | 158 |  |  |  |  |  |
International/Other | 11 |  |  | 10 |  |  |  |  |  |
Total operating income | 705 |  |  | 758 |  |  |  |  |  |
Total other expense | 89 |  |  | 101 |  |  |  |  |  |
Income before income taxes | $ | 616 |  |  | $ | 657 |  |  |  |  |  |
(a) Beef segment results for the three months ended January 2, 2021, included a $55 million gain from the recovery of cattle inventory from a cattle supplier that misappropriated Company funds as compared to a $68 million loss recognized in the three months ended December 28, 2019, as further described in Note 1: Accounting Policies. (b) Chicken segment results for the three months ended January 2, 2021 included a $320 million charge related to the recognition of a legal contingency accrual. The accrual was recorded as a reduction to Sales pursuant to FASB guidance related to accounting for revenue from contracts with customers. The following tables further disaggregate our sales to customers by major distribution channels (in millions):
| Three months ended January 2, 2021
| Retail(a) |  | Foodservice(b) |  | International(c) |  | Industrial and Other(d) |  | Intersegment |  | Total
Beef | $ | 2,134 |  |  | $ | 821 |  |  | $ | 618 |  |  | $ | 323 |  |  | $ | 91 |  |  | $ | 3,987 |
Pork | 432 |  |  | 92 |  |  | 293 |  |  | 342 |  |  | 280 |  |  | 1,439 |
Chicken | 1,436 |  |  | 1,185 |  |  | 152 |  |  | 50 |  |  | 8 |  |  | 2,831 |
Prepared Foods | 1,303 |  |  | 740 |  |  | 31 |  |  | 39 |  |  | — |  |  | 2,113 |
International/Other | — |  |  | — |  |  | 469 |  |  | — |  |  | — |  |  | 469 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | (379) |  |  | (379) |
Total | $ | 5,305 |  |  | $ | 2,838 |  |  | $ | 1,563 |  |  | $ | 754 |  |  | $ | — |  |  | $ | 10,460 |
| Three months ended December 28, 2019
| Retail(a) |  | Foodservice(b) |  | International(c) |  | Industrial and Other(d) |  | Intersegment |  | Total
Beef | $ | 1,857 |  |  | $ | 1,045 |  |  | $ | 514 |  |  | $ | 326 |  |  | $ | 96 |  |  | $ | 3,838 |
Pork | 400 |  |  | 117 |  |  | 280 |  |  | 360 |  |  | 222 |  |  | 1,379 |
Chicken | 1,389 |  |  | 1,307 |  |  | 161 |  |  | 421 |  |  | 14 |  |  | 3,292 |
Prepared Foods | 1,211 |  |  | 846 |  |  | 37 |  |  | 46 |  |  | — |  |  | 2,140 |
International/Other | — |  |  | — |  |  | 498 |  |  | — |  |  | — |  |  | 498 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | (332) |  |  | (332) |
Total | $ | 4,857 |  |  | $ | 3,315 |  |  | $ | 1,490 |  |  | $ | 1,153 |  |  | $ | — |  |  | $ | 10,815 |
(a) Includes sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers. (b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military. (c) Includes sales to international markets for internationally produced products or export sales of domestically produced products. (d) Includes sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories. For the three months ended January 2, 2021, the Chicken segment included a $320 million reduction in Other due to the recognition of a legal contingency accrual.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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