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Restructuring and Related Activities
 12 Months Ended
Oct. 01, 2022
Restructuring and Related Activities [Abstract]  
Restructuring and Related Charges RESTRUCTURING AND RELATED CHARGES
2022 Program
In the fourth quarter of fiscal 2022, the Company approved a restructuring program (the “2022 Program”), which is expected to improve business performance, increase collaboration, enhance team member agility, enable faster decision-making and reduce redundancies. In conjunction with the 2022 Program, the Company plans to bring together all its corporate team members from the Chicago, Downers Grove and Dakota Dunes area corporate locations to its world headquarters in Springdale, Arkansas, through a phased relocation commencing in early calendar year 2023. We anticipate the 2022 Program and associated expenses will be substantially complete in our fiscal 2025. The following table reflects the total pretax anticipated expenses associated with the 2022 Program (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$24 $9 $7 $52 $8 $100 
Relocation and related costs37 16 — 63 1 117 
Accelerated depreciation9 4 1 18 — 32 
Contract and lease terminations— — — 31 — 31 
Professional and other fees4 1 — 7 1 13 
Total 2022 Program$74 $30 $8 $171 $10 $293 
Restructuring costs include severance expenses, and related charges include costs directly associated with the 2022 Program such as relocation, contract and lease terminations, professional fees and accelerated depreciation resulting from the closure of facilities. We anticipate that $50 million and $243 million of the total pretax anticipated expense will be recorded in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Statements of Income. Included in the table above are $264 million of charges that have resulted or will result in cash outflows and $29 million in non-cash charges.
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during fiscal 2022, which is also the cumulative costs since the inception of the plan, by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$16 $5 $6 $36 $3 $66 
Relocation and related costs— — — — — — 
Accelerated depreciation— — — — — — 
Contract and lease terminations— — — — — — 
Professional and other fees— — — — — — 
Total 2022 Program charges to date$16 $5 $6 $36 $3 $66 
During fiscal 2022, we recorded restructuring and related charges associated with the 2022 Program of $18 million and $48 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Statements of Income. Included in the above results are $66 million of charges that have resulted or will result in cash outflows and no non-cash charges.
The following table reflects our liability related to the 2022 Program, which was recognized in other current liabilities in our Consolidated Balance sheet as of October 1, 2022 (in millions):
Balance as of October 2, 2021Restructuring ExpensePaymentsChanges in EstimatesBalance at October 1, 2022
Severance costs$— $66 $— $— $66 
Relocation and related costs— — — — — 
Contract and lease terminations— — — — — 
Professional and other fees— — — — — 
Total$— $66 $— $— $66 
2020 Program
In the first quarter of fiscal 2020, the Company approved a restructuring program (the “2020 Program”) to contribute to the Company’s overall strategy of financial fitness through the elimination of overhead and consolidation of certain enterprise functions. We recognized $60 million of cumulative pretax charges in fiscal 2020 associated with the 2020 Program consisting of severance and employee related costs. The 2020 Program was completed in fiscal 2022, and there was no significant activity in fiscal 2022 or fiscal 2021 and no remaining liabilities associated with this plan.
As the Company continues to evaluate its business strategies and long-term growth targets, additional restructuring activities may occur.