XML 57 R43.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Reporting (Tables) | 12 Months Ended
--- | ---
Oct. 28, 2018
Segment Reporting [Abstract] |
Schedule of sales and operating profits for each of the reportable segments and reconciliation to earnings before income taxes | Sales and operating profits for each of the Company’s reportable segments and reconciliation to earnings before income taxes are set forth below. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. Therefore, the Company does not represent that these segments, if operated independently, would report the operating profit and other financial information shown below.
(in thousands) |  | 2018 |  | 2017 |  | 2016
Net Sales (to unaffiliated customers) |  |  |  |  |  |
Grocery Products |  | $ | 2,521,992 |  |  | $ | 2,555,613 |  |  | $ | 2,623,890 |
Refrigerated Foods |  | 4,771,836 |  |  | 4,403,732 |  |  | 4,647,173 |
Jennie-O Turkey Store |  | 1,627,433 |  |  | 1,663,160 |  |  | 1,740,968 |
International & Other |  | 624,439 |  |  | 545,014 |  |  | 511,193 |
Total |  | $ | 9,545,700 |  |  | $ | 9,167,519 |  |  | $ | 9,523,224 |
Intersegment Sales |  |  |  |  |  |
Grocery Products |  | $ | 38 |  |  | $ | 32 |  |  | $ | 26 |
Refrigerated Foods |  | 8,591 |  |  | 7,832 |  |  | 11,341 |
Jennie-O Turkey Store |  | 110,753 |  |  | 113,384 |  |  | 120,742 |
International & Other |  | $ | — |  |  | — |  |  | — |
Total |  | 119,382 |  |  | 121,248 |  |  | 132,109 |
Intersegment elimination |  | (119,382 | ) |  | (121,248 | ) |  | (132,109 | )
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Segment Net Sales |  |  |  |  |  |
Grocery Products |  | $ | 2,522,030 |  |  | $ | 2,555,645 |  |  | $ | 2,623,916 |
Refrigerated Foods |  | 4,780,427 |  |  | 4,411,564 |  |  | 4,658,514 |
Jennie-O Turkey Store |  | 1,738,186 |  |  | 1,776,544 |  |  | 1,861,710 |
International & Other |  | 624,439 |  |  | 545,014 |  |  | 511,193 |
Intersegment elimination |  | (119,382 | ) |  | (121,248 | ) |  | (132,109 | )
Total |  | $ | 9,545,700 |  |  | $ | 9,167,519 |  |  | $ | 9,523,224 |
Segment Operating Profit |  |  |  |  |  |
Grocery Products |  | $ | 362,750 |  |  | $ | 387,637 |  |  | $ | 379,378 |
Refrigerated Foods |  | 617,626 |  |  | 587,929 |  |  | 585,652 |
Jennie-O Turkey Store |  | 175,684 |  |  | 247,322 |  |  | 329,427 |
International & Other |  | 88,953 |  |  | 85,304 |  |  | 78,409 |
Total segment operating profit |  | 1,245,013 |  |  | $ | 1,308,192 |  |  | $ | 1,372,866 |
Net interest and investment expense (income) |  | 17,637 |  |  | 1,824 |  |  | 6,680 |
General corporate expense |  | 46,534 |  |  | 28,091 |  |  | 49,436 |
Noncontrolling interest |  | 442 |  |  | 368 |  |  | 465 |
Earnings Before Income Taxes |  | $ | 1,181,284 |  |  | $ | 1,278,645 |  |  | $ | 1,317,215 |
Assets |  |  |  |  |  |  |  |  |
Grocery Products |  | $ | 2,205,396 |  |  | $ | 2,215,154 |  |  | $ | 2,277,913 |
Refrigerated Foods |  | 3,379,612 |  |  | 2,324,749 |  |  | 1,999,821 |
Jennie-O Turkey Store |  | 1,048,716 |  |  | 942,369 |  |  | 882,812 |
International & Other |  | 679,003 |  |  | 675,878 |  |  | 510,904 |
Corporate |  | 829,565 |  |  | 817,758 |  |  | 698,617 |
Total |  | $ | 8,142,292 |  |  | $ | 6,975,908 |  |  | $ | 6,370,067 |
Additions to Property, Plant & Equipment |  |  |  |  |  |
Grocery Products |  | $ | 13,042 |  |  | $ | 16,443 |  |  | $ | 21,202 |
Refrigerated Foods |  | 220,499 |  |  | 79,836 |  |  | 93,430 |
Jennie-O Turkey Store |  | 131,946 |  |  | 88,063 |  |  | 61,340 |
International & Other |  | 16,513 |  |  | 33,124 |  |  | 44,407 |
Corporate |  | 7,607 |  |  | 3,820 |  |  | 35,145 |
Total |  | $ | 389,607 |  |  | $ | 221,286 |  |  | $ | 255,524 |
Depreciation and Amortization |  |  |  |  |  |
Grocery Products |  | $ | 35,217 |  |  | $ | 37,096 |  |  | $ | 34,890 |
Refrigerated Foods |  | 70,564 |  |  | 45,911 |  |  | 53,229 |
Jennie-O Turkey Store |  | 33,324 |  |  | 31,611 |  |  | 29,225 |
International & Other |  | 10,755 |  |  | 4,042 |  |  | 3,969 |
Corporate |  | 11,998 |  |  | 12,317 |  |  | 10,655 |
Total |  | $ | 161,858 |  |  | $ | 130,977 |  |  | $ | 131,968 |
Schedule of percentages of total revenues contributed by classes of similar products | The percentages of total revenues contributed by classes of similar products for the last three fiscal years are as follows:
|  | Fiscal Year Ended
|  | October 28, 2018 |  | October 29, 2017 |  | October 30, 2016
Perishable |  | 55.9 | % |  | 53.7 | % |  | 53.1 | %
Poultry |  | 19.3 | % |  | 19.1 | % |  | 20.5 | %
Shelf-stable |  | 18.5 | % |  | 20.2 | % |  | 18.2 | %
Miscellaneous |  | 6.3 | % |  | 7.0 | % |  | 8.2 | %
Total |  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Schedule of total revenues attributable to U.S. and all foreign countries | Total revenues attributed to the U.S. and all foreign countries in total for the last three fiscal years are as follows:
|  | Fiscal Year Ended
(in thousands) |  | October 28, 2018 |  | October 29, 2017 |  | October 30, 2016
United States |  | $ | 8,957,305 |  |  | $ | 8,631,325 |  |  | $ | 9,012,797 |
Foreign |  | 588,395 |  |  | 536,194 |  |  | 510,427 |
Total |  | $ | 9,545,700 |  |  | $ | 9,167,519 |  |  | $ | 9,523,224 |

X
- Definition Tabular disclosure of product information that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfProductInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration