XML 54 R36.htm IDEA: XBRL DOCUMENT v3.23.1

Segment Reporting (Tables)

6 Months Ended

Apr. 01, 2023

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												Six Months Ended
			April 1, 2023						April 2, 2022						April 1, 2023						April 2, 2022
Sales:
Beef			$	4,617					$	5,034					$	9,340					$	10,036
Pork			1,421						1,565						2,950						3,191
Chicken			4,430						4,086						8,693						7,976
Prepared Foods			2,422						2,393						4,960						4,726
International/Other			634						565						1,246						1,115
Intersegment			(391)						(526)						(796)						(994)
Total Sales			$	13,133					$	13,117					$	26,393					$	26,050

			Three Months Ended												Six Months Ended
			April 1, 2023						April 2, 2022						April 1, 2023						April 2, 2022
Operating Income (Loss):
Beef(a)			$	—					$	638					$	166					$	1,594
Pork			(33)						59						(54)						223
Chicken(b)			(258)						198						(189)						338
Prepared Foods			241						263						499						449
International/Other			1						(2)						(4)						7
Total Operating Income (Loss)			(49)						1,156						418						2,611
Total Other (Income) Expense			81						69						114						114
Income (Loss) before Income Taxes			$	(130)					$	1,087					$	304					$	2,497

(a) Beef segment results for the six months ended April 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.

(b) Chicken segment results for the six months ended April 1, 2023 included $7 million of costs related to a fire at one of our production facilities, net of insurance proceeds, recognized in Cost of Sales. Chicken segment results for the three months ended April 1, 2023 included $92 million of costs related to plant closures, recognized in Cost of Sales. Additionally, Chicken segment results for the three months ended April 2, 2022 included $5 million of costs related to a fire at one of our production facilities, net of insurance proceeds. Chicken segments results for the six months ended April 2, 2022 included $18 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.

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 April 1, 2023
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Intersegment						Total
Beef			$	2,134					$	1,191					$	610					$	560					$	122					$	4,617
Pork			416						114						300						339						252						1,421
Chicken			1,964						1,660						248						541						17						4,430
Prepared Foods			1,433						898						51						40						—						2,422
International/Other			—						—						634						—						—						634
Intersegment			—						—						—						—						(391)						(391)
Total			$	5,947					$	3,863					$	1,843					$	1,480					$	—					$	13,133

			Three months ended April 2, 2022
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Intersegment						Total
Beef			$	2,213					$	1,264					$	808					$	603					$	146					$	5,034
Pork			430						122						267						401						345						1,565
Chicken			1,699						1,590						277						485						35						4,086
Prepared Foods			1,410						897						44						42						—						2,393
International/Other			—						—						565						—						—						565
Intersegment			—						—						—						—						(526)						(526)
Total			$	5,752					$	3,873					$	1,961					$	1,531					$	—					$	13,117

			Six months ended April 1, 2023
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Intersegment						Total
Beef			$	4,268					$	2,320					$	1,307					$	1,207					$	238					$	9,340
Pork			874						231						632						689						524						2,950
Chicken			3,845						3,266						494						1,054						34						8,693
Prepared Foods			2,938						1,836						107						79						—						4,960
International/Other			—						—						1,246						—						—						1,246
Intersegment			—						—						—						—						(796)						(796)
Total			$	11,925					$	7,653					$	3,786					$	3,029					$	—					$	26,393

			Six months ended April 2, 2022
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Intersegment						Total
Beef			$	4,431					$	2,500					$	1,664					$	1,165					$	276					$	10,036
Pork			908						258						571						799						655						3,191
Chicken			3,332						3,150						498						933						63						7,976
Prepared Foods			2,735						1,826						90						75						—						4,726
International/Other			—						—						1,115						—						—						1,115
Intersegment			—						—						—						—						(994)						(994)
Total			$	11,406					$	7,734					$	3,938					$	2,972					$	—					$	26,050

(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.

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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration