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Segment Reporting
 12 Months Ended
Sep. 27, 2025
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 China, Malaysia, Mexico, South Korea, Thailand and the Kingdom of Saudi Arabia, third-party merger and integration costs and corporate overhead related to Tyson New Ventures, LLC.
Our President and Chief Executive Officer is the Chief Operating Decision Maker (CODM) of the Company. The CODM uses operating income (loss) as the reportable segment profitability measure to assess performance and allocate resources. This measure is utilized during our budgeting and forecasting process to assess profitability and to enable decision making regarding strategic initiatives and capital investments across all reportable segments. Our CODM considers variances of actual performance to our annual operating plan and periodic forecasts when making decisions.
Significant expenses are expenses which are regularly provided to the CODM and are included in segment operating income (loss). These consist of segment cost of sales, segment selling, general and administrative expenses, and various items affecting comparability. Segment Cost of Sales includes raw materials, direct labor and plant overhead, as well as purchasing and receiving costs, costs directly related to production planning, food safety and quality assurance costs and transportation and warehousing expenses, excluding the impact of items affecting comparability. Segment Selling, General and Administrative expenses include the costs to execute sales to customers, costs related to selling, marketing, advertising and promotional activities and other general and administrative operating costs that are not directly related to manufacturing as well as other expense items, excluding the impact of items affecting comparability. Items affecting comparability include restructuring and related charges (including network optimization), plant closure and disposal charges (net of gains), goodwill and intangible impairments, brand and product line discontinuations, facility fire related costs (net of insurance proceeds), and certain non-ordinary course legal, regulatory and other matters.
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, rendered products 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, convenience stores, 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 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 a mixture of ready-to-cook and 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, convenience stores, hotel chains and noncommercial foodservice establishments such as schools, 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 for which we recorded no expense in fiscal years 2025 and 2024, and $3 million in fiscal 2023, 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 2025, 2024 and 2023 (in millions):
Twelve months ended September 27, 2025
BeefPorkChickenPrepared FoodsInternational/OtherIntersegmentTotal
Sales(a)
$21,623 $5,781 $16,837 $9,930 $2,291 $(2,021)$54,441 
Segment Cost of Sales22,117 5,884 14,526 8,321 1,995 (2,021)50,822 
Segment Selling, General and Administrative250 96 829 762 159 — 2,096 
Facility fire related costs (insurance proceeds)— — — — (18)— (18)
Brand and product line discontinuations— — 23 — — — 23 
Restructuring and related charges48 — 9 (26)14 — 45 
Legal contingency accruals— — — — 40 — 40 
Plant closure and disposal charges— — 23 — (6)— 17 
Goodwill and intangible impairments343 — — — — — 343 
Product recall— — — (25)— — (25)
Operating Income (Loss)$(1,135)$(199)$1,427 $898 $107 $— $1,098 
Other (Income) Expense:
Interest income$(73)
Interest expense449 
Other, net(47)
Income (Loss) before Income Taxes$769 
Other segment information:
Depreciation and amortization$178 $63 $645 $387 $77 — $1,350 
Total Assets3,949 1,532 12,186 14,982 4,009 — 36,658 
Additions to property, plant and equipment156 66 511 155 90 — 978 
Twelve months ended September 28, 2024
BeefPorkChickenPrepared FoodsInternational/OtherIntersegmentTotal
Sales(a)
$20,479 $5,903 $16,425 $9,851 $2,353 $(1,702)$53,309 
Segment Cost of Sales20,542 5,707 14,604 8,113 2,091 (1,702)49,355 
Segment Selling, General and Administrative228 99 806 833 213 — 2,179 
Facility fire related costs (insurance proceeds)— — (70)— 86 — 16 
Brand and product line discontinuations— — 6 2 — — 8 
Restructuring and related charges4 1 2 24 — — 31 
Legal contingency accruals45 28 56 — — — 129 
Plant closure and disposal charges41 108 33 — — — 182 
Operating Income (Loss)$(381)$(40)$988 $879 $(37)$— $1,409 
Other (Income) Expense:
Interest income$(89)
Interest expense481 
Other, net(75)
Income (Loss) before Income Taxes$1,092 
Other segment information:
Depreciation and amortization$164 $125 $639 $389 $71 — $1,388 
Total Assets3,730 1,570 12,121 15,138 4,541 — 37,100 
Additions to property, plant and equipment138 41 505 334 114 — 1,132 
Twelve months ended September 30, 2023
BeefPorkChickenPrepared FoodsInternational/OtherIntersegmentTotal
Sales(a)
$19,325 $5,768 $17,060 $9,845 $2,515 $(1,632)$52,881 
Segment Cost of Sales18,863 5,790 16,495 8,123 2,315 (1,632)49,954 
Segment Selling, General and Administrative229 106 798 833 184 — 2,150 
Facility fire related costs (insurance proceeds)(42)— (11)— — — (53)
Brand and product line discontinuations— — — 17 — — 17 
Restructuring and related charges33 11 16 49 15 — 124 
Plant closure and disposal charges— — 322 — (19)— 303 
Goodwill and intangible impairments333 — 210 — 238 — 781 
Operating Income (Loss)$(91)$(139)$(770)$823 $(218)$— $(395)
Other (Income) Expense:
Interest income$(30)
Interest expense355 
Other, net(42)
Income (Loss) before Income Taxes$(678)
Other segment information:
Depreciation and amortization$128 $68 $693 $373 $67 — $1,329 
Total Assets3,772 1,696 12,143 15,198 3,442 — 36,251 
Additions to property, plant and equipment169 62 834 578 296 — 1,939 
(a) Includes $318 million and $380 million of legal contingency accruals for the Beef and Pork segments, respectively, and $66 million related to a product recall in the Prepared Foods segment for fiscal year 2025. Includes $45 million of a legal contingency accrual for the Pork segment for the fiscal year 2024. Includes $156 million of a legal contingency accrual for the Chicken segment for the fiscal year 2023.
Our largest customer, Walmart Inc., accounted for 18.7%, 18.4% and 18.6% of consolidated sales in fiscal 2025, 2024 and 2023, 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 2025, 2024 and 2023 were sourced from the United States. At September 27, 2025 and September 28, 2024, long-lived assets, excluding goodwill, intangibles, financial instruments and deferred tax assets, located in the United States were approximately $9.5 billion and $9.5 billion, respectively, and approximately $0.7 billion and $0.8 billion, respectively, were located in foreign locations, primarily Brazil, China, New Zealand, Malaysia, the Middle East and Thailand.
We sell certain products in foreign markets, primarily Canada, Central America, China, the European Union, the United Kingdom, Japan, Mexico, Malaysia, the Middle East, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. Our export sales from the United States totaled $4.8 billion, $5.2 billion and $5.1 billion for fiscal 2025, 2024 and 2023, respectively. Substantially all of our export sales are facilitated through unaffiliated brokers, marketing associations and foreign sales offices. Sales of products produced in a country other than the United States were less than 10% of consolidated sales for each of fiscal 2025, 2024 and 2023. The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Twelve months ended September 27, 2025
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$10,920 $5,786 $2,249 $2,150 $21,105 $518 $21,623 
Pork1,880 548 1,186 767 4,381 1,400 5,781 
Chicken6,942 6,660 1,104 2,028 16,734 103 16,837 
Prepared Foods5,788 3,636 242 264 9,930 — 9,930 
International/Other— — 2,291 — 2,291 — 2,291 
Intersegment— — — — — (2,021)(2,021)
Total$25,530 $16,630 $7,072 $5,209 $54,441 $— $54,441 
Twelve months ended September 28, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$9,915 $5,215 $2,659 $2,245 $20,034 $445 $20,479 
Pork1,804 498 1,364 1,078 4,744 1,159 5,903 
Chicken6,994 6,432 957 1,944 16,327 98 16,425 
Prepared Foods5,794 3,629 225 203 9,851 — 9,851 
International/Other— — 2,353 — 2,353 — 2,353 
Intersegment— — — — — (1,702)(1,702)
Total$24,507 $15,774 $7,558 $5,470 $53,309 $— $53,309 
Twelve months ended September 30, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$8,947 $4,839 $2,633 $2,395 $18,814 $511 $19,325 
Pork1,677 477 1,235 1,338 4,727 1,041 5,768 
Chicken7,483 6,589 1,007 1,901 16,980 80 17,060 
Prepared Foods5,795 3,690 213 147 9,845 — 9,845 
International/Other— — 2,515 — 2,515 — 2,515 
Intersegment— — — — — (1,632)(1,632)
Total$23,902 $15,595 $7,603 $5,781 $52,881 $— $52,881 
(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 related to internationally produced products and 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. For fiscal 2025, the Beef and Pork segments included a $318 million and $380 million reduction in Other, respectively, due to the recognition of legal contingency accruals. For fiscal 2024, the Pork segment included a $45 million reduction in Other due to the recognition of a legal contingency accrual. For fiscal 2023, the Chicken segment included a $156 million reduction in Other due to the recognition of legal contingency accruals