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Segment Reporting (Tables)

3 Months Ended

Dec. 28, 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
			December 28, 2024						December 30, 2023
Sales:
Beef			$	5,335					$	5,023
Pork			1,617						1,517
Chicken			4,065						4,033
Prepared Foods			2,473						2,543
International/Other			584						582
Intersegment			(451)						(379)
Total Sales			$	13,623					$	13,319

			Three Months Ended
			December 28, 2024						December 30, 2023
Operating Income (Loss):
Beef(a)			$	(64)					$	(206)
Pork(b)			59						39
Chicken(c)			351						177
Prepared Foods(d)			209						243
International/Other(e)			25						(22)
Total Operating Income (Loss)			580						231
Total Other (Income) Expense			102						70
Income before Income Taxes			$	478					$	161

(a) Beef segment results for the three months ended December 28, 2024 included $32 million in network optimization plan charges, recognized in Cost of Sales. Additionally, Beef segment results for the three months ended December 30, 2023 included $40 million of costs related to plant closures and disposals and a $45 million legal contingency accrual, recognized in Cost of Sales.

(b) Pork segment results for the three months ended December 30, 2023 included a $28 million legal contingency accrual, recognized in Cost of Sales.

(c) Chicken segment results for the three months ended December 28, 2024 included $6 million of brand discontinuation charges, recognized in Selling, General and Administrative. Additionally, Chicken segment results for the three months ended December 28, 2024 included network optimization plan charges of $9 million and $2 million, recognized in Cost of Sales and Selling, General and Administrative, respectively. Chicken segment results for the three months ended December 30, 2023 included insurance proceeds, net of costs incurred, of $24 million and costs related to plant closures and disposals of $35 million, recognized in Cost of Sales.

(d) Prepared Foods segment results for the three months ended December 28, 2024 included $25 million in network optimization plan charges, recognized in Cost of Sales. Prepared Foods segment results for the three months ended December 30, 2023 included restructuring and related charges of $1 million and $20 million, recognized in Cost of Sales and Selling, General and Administrative, respectively.

(e) International/Other results for the three months ended December 28, 2024 included $5 million in network optimization plan charges, recognized in Cost of Sales. International/Other results for the three months ended December 30, 2023 included $26 million of costs related to a fire at our production facility in the Netherlands and subsequent decision to sell, 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 December 28, 2024
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Total External Customers						Intersegment						Total
Beef			$	2,657					$	1,366					$	655					$	549					$	5,227					$	108					$	5,335
Pork			553						126						331						285						1,295						322						1,617
Chicken			1,658						1,652						269						465						4,044						21						4,065
Prepared Foods			1,472						894						57						50						2,473						—						2,473
International/Other			—						—						584						—						584						—						584
Intersegment			—						—						—						—						—						(451)						(451)
Total			$	6,340					$	4,038					$	1,896					$	1,349					$	13,623					$	—					$	13,623

			Three months ended December 30, 2023
			Retail(a)						Foodservice(b)						International(c)						Industrial and Other(d)						Total External Customers						Intersegment						Total
Beef			$	2,397					$	1,315					$	632					$	578					$	4,922					$	101					$	5,023
Pork			483						117						353						305						1,258						259						1,517
Chicken			1,713						1,607						217						477						4,014						19						4,033
Prepared Foods			1,488						961						59						35						2,543						—						2,543
International/Other			—						—						582						—						582						—						582
Intersegment			—						—						—						—						—						(379)						(379)
Total			$	6,081					$	4,000					$	1,843					$	1,395					$	13,319					$	—					$	13,319

(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.

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- 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.

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-Topic 606
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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.

+ References

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