XML 65 R49.htm IDEA: XBRL DOCUMENT v3.25.3
Segment Reporting (Tables)
12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Segment Reporting [Abstract]      
Segment Reporting Information, By Segment
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)$54,441 
Segment Cost of Sales22,117 5,884 14,526 8,321 1,995 (2,021)50,822 
Segment Selling, General and Administrative250 96 829 762 159 — 2,096 
Facility fire related costs (insurance proceeds)— — — — (18)— (18)
Brand and product line discontinuations— — 23 — — — 23 
Restructuring and related charges48 — (26)14 — 45 
Legal contingency accruals— — — — 40 — 40 
Plant closure and disposal charges— — 23 — (6)— 17 
Goodwill and intangible impairments343 — — — — — 343 
Product recall— — — (25)— — (25)
Operating Income (Loss)$(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)$53,309 
Segment Cost of Sales20,542 5,707 14,604 8,113 2,091 (1,702)49,355 
Segment Selling, General and Administrative228 99 806 833 213 — 2,179 
Facility fire related costs (insurance proceeds)— — (70)— 86 — 16 
Brand and product line discontinuations— — — — 
Restructuring and related charges24 — — 31 
Legal contingency accruals45 28 56 — — — 129 
Plant closure and disposal charges41 108 33 — — — 182 
Operating Income (Loss)$(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 
Disaggregation of Revenue, By Segment and Distribution Channel 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.