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Accounting Policies Changes in Accounting Principles (Tables)

6 Months Ended

Apr. 03, 2021

Accounting Policies [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The following tables represent revisions to our consolidated condensed financial information for the periods ended March 28, 2020:

Second Quarter												in millions, except per share data
			Three months ended March 28, 2020									Six months ended March 28, 2020
			As originally reported			Adjustments			As revised			As originally reported			Adjustments			As revised
Consolidated Statements of Income:
Selling, General and Administrative			$	520		$	(14)		$	506		$	1,134		$	54		$	1,188
Operating Income			501			14			$	515		1,327			(54)			1,273
Income before Income Taxes			491			14			$	505		1,216			(54)			1,162
Income Tax Expense (Benefit)			124			2			$	126		288			(14)			274
Net Income			367			12			$	379		928			(40)			888
Net Income Attributable to Tyson			364			12			$	376		921			(40)			881
Net Income Per Share Attributable to Tyson
Class A Basic			$	1.03		$	0.03		$	1.06		$	2.59		$	(0.11)		$	2.48
Class B Basic			$	0.92		$	0.03		$	0.95		$	2.32		$	(0.10)		$	2.22
Diluted			$	1.00		$	0.03		$	1.03		$	2.52		$	(0.11)		$	2.41
Consolidated Statements of Comprehensive Income:
Net Income			$	367		$	12		$	379		$	928		$	(40)		$	888
Comprehensive Income			216			12			228			815			(40)			775
Comprehensive Income Attributable to Tyson			213			12			225			808			(40)			768
												As of March 28, 2020
												As originally reported			Adjustments			As revised
Consolidated Balance Sheet:
Inventories												$	4,025		$	(233)		$	3,792
Total Current Assets												7,099			(233)			6,866
Total Assets												33,890			(233)			33,657
Deferred Income Taxes												2,384			(61)			2,323
Retained Earnings(a)												14,392			(172)			14,220
Total Tyson Shareholders' Equity												14,449			(172)			14,277
Total Shareholders' Equity												14,594			(172)			14,422
Total Liabilities and Shareholders' Equity												33,890			(233)			33,657
												Six months ended March 28, 2020
												As originally reported			Adjustments			As revised
Consolidated Statement of Cash Flows:
Net Income												$	928		$	(40)		$	888
Deferred income taxes												46			(14)			32
Net changes in operating assets and liabilities												(260)			54			(206)

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- References

No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

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