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Segment Reporting (Tables)

6 Months Ended

Mar. 30, 2024

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
			March 30, 2024						April 1, 2023						March 30, 2024						April 1, 2023
Sales:
Beef			$	4,954					$	4,617					$	9,977					$	9,340
Pork			1,486						1,421						3,003						2,950
Chicken			4,065						4,430						8,098						8,693
Prepared Foods			2,404						2,422						4,947						4,960
International/Other			580						634						1,162						1,246
Intersegment			(417)						(391)						(796)						(796)
Total Sales			$	13,072					$	13,133					$	26,391					$	26,393

			Three Months Ended												Six Months Ended
			March 30, 2024						April 1, 2023						March 30, 2024						April 1, 2023
Operating Income (Loss):
Beef(a)			$	(35)					$	—					$	(241)					$	166
Pork(b)			(1)						(33)						38						(54)
Chicken(c)			158						(258)						335						(189)
Prepared Foods			230						241						473						499
International/Other(d)			(40)						1						(62)						(4)
Total Operating Income (Loss)			312						(49)						543						418
Total Other (Income) Expense			109						81						179						114
Income (Loss) before Income Taxes			$	203					$	(130)					$	364					$	304

(a) Beef segment results for the six months ended March 30, 2024 included a $45 million legal contingency accrual and $41 million of costs related to plant closures recognized in Cost of Sales. 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) Pork segment results for the three and six months ended March 30, 2024 included $34 million of costs related to plant closures, recognized in Cost of Sales. Pork segment results for the six months ended March 30, 2024 included a $28 million legal contingency accrual, recognized in Cost of Sales.

(c) Chicken segment results for the six months ended March 30, 2024 included $39 million of costs related to plant closures and $24 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales. Chicken segment results for the three and six months ended April 1, 2023 included $92 million of costs related to plant closures, recognized in Cost of Sales. 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.

(d) International/Other results for the three and six months ended March 30, 2024 included $54 million and $80 million, respectively, of costs, net of insurance proceeds, related to a fire at our production facility in the Netherlands and our current intention to discontinue the use of certain productive assets, 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 March 30, 2024
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Total External Customers						Intersegment						Total
Beef			$	2,367					$	1,287					$	662					$	549					$	4,865					$	89					$	4,954
Pork			427						121						375						264						1,187						299						1,486
Chicken			1,755						1,608						225						448						4,036						29						4,065
Prepared Foods			1,414						896						51						43						2,404						—						2,404
International/Other			—						—						580						—						580						—						580
Intersegment			—						—						—						—						—						(417)						(417)
Total			$	5,963					$	3,912					$	1,893					$	1,304					$	13,072					$	—					$	13,072

			Three months ended April 1, 2023
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Total External Customers						Intersegment						Total
Beef			$	2,134					$	1,191					$	610					$	560					$	4,495					$	122					$	4,617
Pork			416						114						300						339						1,169						252						1,421
Chicken			1,964						1,660						248						541						4,413						17						4,430
Prepared Foods			1,433						898						51						40						2,422						—						2,422
International/Other			—						—						634						—						634						—						634
Intersegment			—						—						—						—						—						(391)						(391)
Total			$	5,947					$	3,863					$	1,843					$	1,480					$	13,133					$	—					$	13,133

			Six months ended March 30, 2024
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Total External Customers						Intersegment						Total
Beef			$	4,764					$	2,602					$	1,294					$	1,127					$	9,787					$	190					$	9,977
Pork			910						238						728						569						2,445						558						3,003
Chicken			3,468						3,215						442						925						8,050						48						8,098
Prepared Foods			2,902						1,857						110						78						4,947						—						4,947
International/Other			—						—						1,162						—						1,162						—						1,162
Intersegment			—						—						—						—						—						(796)						(796)
Total			$	12,044					$	7,912					$	3,736					$	2,699					$	26,391					$	—					$	26,391

			Six months ended April 1, 2023
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Total External Customers						Intersegment						Total
Beef			$	4,268					$	2,320					$	1,307					$	1,207					$	9,102					$	238					$	9,340
Pork			874						231						632						689						2,426						524						2,950
Chicken			3,845						3,266						494						1,054						8,659						34						8,693
Prepared Foods			2,938						1,836						107						79						4,960						—						4,960
International/Other			—						—						1,246						—						1,246						—						1,246
Intersegment			—						—						—						—						—						(796)						(796)
Total			$	11,925					$	7,653					$	3,786					$	3,029					$	26,393					$	—					$	26,393

(a) Includes external sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.

(b) Includes external sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.

(c) Includes external sales to international markets for internationally produced products or export sales of domestically produced products.

(d) Includes external 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

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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.

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