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v3.23.3

Segment Reporting (Tables) | 12 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting Information, By Segment | Information on segments and a reconciliation to income from continuing operations before income taxes are as follows for fiscal years ended 2023, 2022 and 2021 (in millions):
| Beef |  | Pork |  | Chicken |  | Prepared Foods |  |  |  | International/Other |  | Intersegment Sales |  | Consolidated
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales | $ | 19,325 |  |  | $ | 5,768 |  |  | $ | 17,060 |  |  | $ | 9,845 |  |  |  |  | $ | 2,515 |  |  | $ | (1,632) |  |  | $ | 52,881 |
Operating Income (Loss) | (91) |  |  | (139) |  |  | (770) |  |  | 823 |  |  |  |  | (218) |  |  |  |  | (395) |
Total Other (Income) Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 283 |
Income (Loss) before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (678) |
Depreciation and amortization | 128 |  |  | 68 |  |  | 693 |  |  | 373 |  |  |  |  | 67 |  |  |  |  | 1,329 |
Total Assets | 3,772 |  |  | 1,696 |  |  | 12,143 |  |  | 15,198 |  |  |  |  | 3,442 |  |  |  |  | 36,251 |
Additions to property, plant and equipment | 169 |  |  | 62 |  |  | 834 |  |  | 578 |  |  |  |  | 296 |  |  |  |  | 1,939 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales | $ | 19,854 |  |  | $ | 6,414 |  |  | $ | 16,961 |  |  | $ | 9,689 |  |  |  |  | $ | 2,355 |  |  | $ | (1,991) |  |  | $ | 53,282 |
Operating Income (Loss) | 2,502 |  |  | 193 |  |  | 955 |  |  | 746 |  |  |  |  | 14 |  |  |  |  | 4,410 |
Total Other (Income) Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 261 |
Income before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,149 |
Depreciation and amortization | 128 |  |  | 70 |  |  | 563 |  |  | 372 |  |  |  |  | 58 |  |  |  |  | 1,191 |
Total Assets | 3,883 |  |  | 1,697 |  |  | 12,386 |  |  | 14,920 |  |  |  |  | 3,935 |  |  |  |  | 36,821 |
Additions to property, plant and equipment | 136 |  |  | 82 |  |  | 906 |  |  | 456 |  |  |  |  | 307 |  |  |  |  | 1,887 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales | $ | 17,999 |  |  | $ | 6,277 |  |  | $ | 13,733 |  |  | $ | 8,853 |  |  |  |  | $ | 1,990 |  |  | $ | (1,803) |  |  | $ | 47,049 |
Operating Income (Loss) | 3,240 |  |  | 328 |  |  | (625) |  |  | 1,456 |  |  |  |  | (3) |  |  |  |  | 4,396 |
Total Other (Income) Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 355 |
Income before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,041 |
Depreciation and amortization | 108 |  |  | 61 |  |  | 564 |  |  | 385 |  |  |  |  | 77 |  |  |  |  | 1,195 |
Total Assets | 3,678 |  |  | 1,583 |  |  | 11,373 |  |  | 14,630 |  |  |  |  | 5,045 |  |  |  |  | 36,309 |
Additions to property, plant and equipment | 246 |  |  | 100 |  |  | 518 |  |  | 237 |  |  |  |  | 108 |  |  |  |  | 1,209 |
Disaggregation of Revenue, By Segment and Distribution Channel | The following tables further disaggregate our sales to customers by major distribution channels (in millions):
| Twelve months ended September 30, 2023
| Retail(a) |  | Foodservice(b) |  | International(c) |  | Industrial and Other(d) |  | Intersegment |  | Total
Beef | $ | 8,947 |  |  | $ | 4,839 |  |  | $ | 2,633 |  |  | $ | 2,395 |  |  | $ | 511 |  |  | $ | 19,325 |
Pork | 1,677 |  |  | 477 |  |  | 1,235 |  |  | 1,338 |  |  | 1,041 |  |  | 5,768 |
Chicken | 7,483 |  |  | 6,589 |  |  | 1,007 |  |  | 1,901 |  |  | 80 |  |  | 17,060 |
Prepared Foods | 5,795 |  |  | 3,690 |  |  | 213 |  |  | 147 |  |  | — |  |  | 9,845 |
International/Other | — |  |  | — |  |  | 2,515 |  |  | — |  |  | — |  |  | 2,515 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | (1,632) |  |  | (1,632) |
Total | $ | 23,902 |  |  | $ | 15,595 |  |  | $ | 7,603 |  |  | $ | 5,781 |  |  | $ | — |  |  | $ | 52,881 |
| Twelve months ended October 1, 2022
| Retail(a) |  | Foodservice(b) |  | International(c) |  | Industrial and Other(d) |  | Intersegment |  | Total
Beef | $ | 8,687 |  |  | $ | 4,940 |  |  | $ | 3,247 |  |  | $ | 2,439 |  |  | $ | 541 |  |  | $ | 19,854 |
Pork | 1,817 |  |  | 516 |  |  | 1,180 |  |  | 1,616 |  |  | 1,285 |  |  | 6,414 |
Chicken | 7,194 |  |  | 6,475 |  |  | 1,131 |  |  | 1,996 |  |  | 165 |  |  | 16,961 |
Prepared Foods | 5,587 |  |  | 3,751 |  |  | 191 |  |  | 160 |  |  | — |  |  | 9,689 |
International/Other | — |  |  | — |  |  | 2,355 |  |  | — |  |  | — |  |  | 2,355 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | (1,991) |  |  | (1,991) |
Total | $ | 23,285 |  |  | $ | 15,682 |  |  | $ | 8,104 |  |  | $ | 6,211 |  |  | $ | — |  |  | $ | 53,282 |
| Twelve months ended October 2, 2021
| Retail(a) |  | Foodservice(b) |  | International(c) |  | Industrial and Other(d) |  | Intersegment |  | Total
Beef | $ | 8,779 |  |  | $ | 4,326 |  |  | $ | 2,720 |  |  | $ | 1,719 |  |  | $ | 455 |  |  | $ | 17,999 |
Pork | 1,787 |  |  | 474 |  |  | 1,173 |  |  | 1,563 |  |  | 1,280 |  |  | 6,277 |
Chicken | 6,112 |  |  | 5,566 |  |  | 770 |  |  | 1,217 |  |  | 68 |  |  | 13,733 |
Prepared Foods | 5,231 |  |  | 3,311 |  |  | 140 |  |  | 171 |  |  | — |  |  | 8,853 |
International/Other | — |  |  | — |  |  | 1,990 |  |  | — |  |  | — |  |  | 1,990 |
Intersegment | — |  |  | — |  |  | — |  |  | — |  |  | (1,803) |  |  | (1,803) |
Total | $ | 21,909 |  |  | $ | 13,677 |  |  | $ | 6,793 |  |  | $ | 4,670 |  |  | $ | — |  |  | $ | 47,049 |
(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 related to 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 fiscal 2023 and 2021, the Chicken segment included a $156 million and $545 million reduction in Other due to the recognition of legal contingency accruals, respectively.

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