XML 23 R12.htm IDEA: XBRL DOCUMENT v3.23.2

Inventories

9 Months Ended

Jul. 01, 2023

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Processed products, livestock and supplies and other are valued at the lower of cost or net realizable value. Cost includes purchased raw materials, live purchase costs, growout costs (primarily feed, livestock grower pay and catch and haul costs), labor and manufacturing and production overhead, which are related to the purchase and production of inventories. At July 1, 2023, the cost of inventories was determined by either the first-in, first-out method or the weighted-average method, which is consistent with the methods used at October 1, 2022. Inventories are presented net of lower of cost or net realizable value adjustments of $137 million and $60 million as of July 1, 2023 and October 1, 2022, respectively.

The following table reflects the major components of inventory (in millions):

			July 1, 2023						October 1, 2022
Processed products			$	2,927					$	3,188
Livestock			1,564						1,454
Supplies and other			900						872
Total inventory			$	5,391					$	5,514

X

- References

No definition available.

+ Details

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

X

- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

+ Details

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