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Segment Reporting (Tables)

3 Months Ended

Jan. 01, 2022

Segment Reporting [Abstract]

Segment Reporting Information, By Segment

Information on segments and a reconciliation to income before income taxes are as follows (in millions): 

			Three Months Ended
			January 1, 2022						January 2, 2021
Sales:
Beef			$	5,002					$	3,987
Pork			1,626						1,439
Chicken			3,890						2,831
Prepared Foods			2,333						2,113
International/Other			550						469
Intersegment			(468)						(379)
Total sales			$	12,933					$	10,460

			Three Months Ended
			January 1, 2022						January 2, 2021
Operating income (loss):
Beef(a)			$	956					$	528
Pork			164						116
Chicken(b)			140						(216)
Prepared Foods			186						266
International/Other			9						11
Total operating income			1,455						705
Total other expense			45						89
Income before income taxes			$	1,410					$	616

(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.

(b) Chicken segment results for the three months ended January 1, 2022 included $23 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales. Additionally, 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.

Disaggregation of Revenue, By Segment and Distribution Channel

The following tables further disaggregate our sales to customers by major distribution channels (in millions):

			Three months ended January 1, 2022
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Intersegment						Total
Beef			$	2,218					$	1,236					$	856					$	562					$	130					$	5,002
Pork			478						136						304						398						310						1,626
Chicken			1,633						1,560						221						448						28						3,890
Prepared Foods			1,325						929						46						33						—						2,333
International/Other			—						—						550						—						—						550
Intersegment			—						—						—						—						(468)						(468)
Total			$	5,654					$	3,861					$	1,977					$	1,441					$	—					$	12,933

			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

(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.

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

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