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Segment Reporting | 12 Months Ended
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Sep. 30, 2023
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, Thailand and the Kingdom of Saudi Arabia, 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 meat cuts and case-ready products. Products are marketed domestically to 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 specialty 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 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 specialty 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 specialty products. Our value-added chicken products primarily include breaded chicken strips, nuggets, patties and other ready-to-fix or fully cooked chicken parts. Products are marketed domestically to 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 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 of $3 million, $5 million and $2 million in fiscal 2023, 2022 and 2021, respectively, and corporate overhead related to Tyson New Ventures, LLC, which are included in International/Other. Intersegment sales transactions, which were at market prices, are included in the segment sales in the table below. Assets and additions to property, plant and equipment relating to corporate activities remain in International/Other. 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 |
Our largest customer, Walmart Inc., accounted for 18.6%, 17.7% and 18.3% of consolidated sales in fiscal 2023, 2022 and 2021, respectively. Sales to Walmart Inc. were included in all the segments. Any extended discontinuance of sales to this customer could, if not replaced, have a material impact on our operations. The majority of our operations are domiciled in the United States. Approximately 95% of sales to external customers for each of fiscal 2023, 2022 and 2021 were sourced from the United States. Approximately $26.1 billion and $25.7 billion of long-lived assets were located in the United States at September 30, 2023, and October 1, 2022, respectively. Excluding goodwill and intangible assets, long-lived assets located in the United States totaled approximately $10.5 billion and $9.5 billion at September 30, 2023, and October 1, 2022, respectively. Approximately $1.4 billion and $1.5 billion of long-lived assets were located in foreign locations, primarily Brazil, China, the European Union, Malaysia, New Zealand and Thailand at September 30, 2023, and October 1, 2022, respectively. Excluding goodwill and intangible assets, long-lived assets in foreign countries totaled approximately $1,101 million and $916 million at September 30, 2023, and October 1, 2022, respectively. We sell certain products in foreign markets, primarily Australia, Canada, Central America, Chile, China, the European Union, the United Kingdom, Japan, Mexico, Malaysia, the Middle East, Singapore, South Korea, Taiwan and Thailand. Our export sales from the United States totaled $5.1 billion, $5.8 billion and $4.9 billion for fiscal 2023, 2022 and 2021, respectively. Substantially all of our export sales are facilitated through unaffiliated brokers, marketing associations and foreign sales staffs. Sales of products produced in a country other than the United States were less than 10% of consolidated sales for each of fiscal 2023, 2022 and 2021. 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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- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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