XML 55 R41.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Reporting (Tables) | 12 Months Ended
--- | ---
Oct. 25, 2020
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 profit and other financial information shown below.
| Fiscal Year
(in thousands) |  | 2020 |  | 2019 |  | 2018
Sales to Unaffiliated Customers |  |  |  |  |  |
Grocery Products |  | $ | 2,385,291 |  |  | $ | 2,369,317 |  |  | $ | 2,480,367 |
Refrigerated Foods |  | 5,271,061 |  |  | 5,210,741 |  |  | 5,109,881 |
Jennie-O Turkey Store |  | 1,333,459 |  |  | 1,323,783 |  |  | 1,331,013 |
International & Other |  | 618,650 |  |  | 593,476 |  |  | 624,439 |
Total |  | $ | 9,608,462 |  |  | $ | 9,497,317 |  |  | $ | 9,545,700 |
Intersegment Sales |  |  |  |  |  |
Grocery Products |  | $ | 13 |  |  | $ | 41 |  |  | $ | 38 |
Refrigerated Foods |  | 21,067 |  |  | 16,351 |  |  | 8,591 |
Jennie-O Turkey Store |  | 108,276 |  |  | 123,712 |  |  | 110,753 |
International & Other |  | — |  |  | — |  |  | — |
Total |  | 129,356 |  |  | 140,104 |  |  | 119,382 |
Intersegment Elimination |  | (129,356) |  |  | (140,104) |  |  | (119,382) |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Net Sales |  |  |  |  |  |
Grocery Products |  | $ | 2,385,304 |  |  | $ | 2,369,358 |  |  | $ | 2,480,405 |
Refrigerated Foods |  | 5,292,128 |  |  | 5,227,092 |  |  | 5,118,472 |
Jennie-O Turkey Store |  | 1,441,735 |  |  | 1,447,495 |  |  | 1,441,766 |
International & Other |  | 618,650 |  |  | 593,476 |  |  | 624,439 |
Intersegment Elimination |  | (129,356) |  |  | (140,104) |  |  | (119,382) |
Total |  | $ | 9,608,462 |  |  | $ | 9,497,317 |  |  | $ | 9,545,700 |
Segment Profit |  |  |  |  |  |
Grocery Products |  | $ | 358,008 |  |  | $ | 339,497 |  |  | $ | 353,266 |
Refrigerated Foods |  | 609,406 |  |  | 681,763 |  |  | 670,948 |
Jennie-O Turkey Store |  | 105,585 |  |  | 117,962 |  |  | 131,846 |
International & Other |  | 93,782 |  |  | 75,513 |  |  | 88,953 |
Total Segment Profit |  | $ | 1,166,782 |  |  | $ | 1,214,735 |  |  | $ | 1,245,013 |
Net Unallocated Expense |  | 52,307 |  |  | 5,362 |  |  | 64,171 |
Noncontrolling Interest |  | 272 |  |  | 342 |  |  | 442 |
Earnings Before Income Taxes |  | $ | 1,114,747 |  |  | $ | 1,209,715 |  |  | $ | 1,181,284 |
Assets |  |  |  |  |  |
Grocery Products |  | $ | 1,713,883 |  |  | $ | 1,774,235 |  |  | $ | 2,172,117 |
Refrigerated Foods |  | 4,188,250 |  |  | 3,583,639 |  |  | 3,444,646 |
Jennie-O Turkey Store |  | 1,111,318 |  |  | 1,023,787 |  |  | 1,016,961 |
International & Other |  | 721,729 |  |  | 692,310 |  |  | 679,003 |
Corporate |  | 2,173,101 |  |  | 1,035,033 |  |  | 829,565 |
Total |  | $ | 9,908,282 |  |  | $ | 8,109,004 |  |  | $ | 8,142,292 |
Additions to Property, Plant, & Equipment |  |  |  |  |  |
Grocery Products |  | $ | 34,409 |  |  | $ | 37,892 |  |  | $ | 13,042 |
Refrigerated Foods |  | 249,441 |  |  | 174,506 |  |  | 220,499 |
Jennie-O Turkey Store |  | 42,042 |  |  | 31,607 |  |  | 131,946 |
International & Other |  | 3,737 |  |  | 9,248 |  |  | 16,513 |
Corporate |  | 37,872 |  |  | 40,585 |  |  | 7,607 |
Total |  | $ | 367,501 |  |  | $ | 293,838 |  |  | $ | 389,607 |
Depreciation and Amortization |  |  |  |  |  |
Grocery Products |  | $ | 32,148 |  |  | $ | 31,406 |  |  | $ | 35,210 |
Refrigerated Foods |  | 97,317 |  |  | 77,100 |  |  | 70,579 |
Jennie-O Turkey Store |  | 46,322 |  |  | 34,696 |  |  | 33,316 |
International & Other |  | 16,226 |  |  | 10,666 |  |  | 10,755 |
Corporate |  | 13,767 |  |  | 11,342 |  |  | 11,998 |
Total |  | $ | 205,781 |  |  | $ | 165,210 |  |  | $ | 161,858 |
Schedule of total revenues contributed by sales channel | The amount of total revenues contributed by sales channel for the last three fiscal years are:
|  | Fiscal Year Ended
(in thousands) |  | October 25, 2020 |  | October 27, 2019 |  | October 28, 2018
U.S. Retail |  | $ | 5,441,412 |  |  | $ | 4,947,398 |  |  | $ | 5,112,988 |
U.S. Foodservice |  | 2,489,644 |  |  | 2,943,352 |  |  | 2,824,951 |
U.S. Deli |  | 970,327 |  |  | 939,069 |  |  | 914,009 |
International |  | 707,078 |  |  | 667,498 |  |  | 693,752 |
Total |  | $ | 9,608,462 |  |  | $ | 9,497,317 |  |  | $ | 9,545,700 |
Schedule of total revenues contributed by classes of similar products | The amount of total revenues contributed by classes of similar products for the last three fiscal years are:
|  | Fiscal Year Ended
(in thousands) |  | October 25, 2020 |  | October 27, 2019 |  | October 28, 2018
Perishable |  | $ | 5,328,738 |  |  | $ | 5,370,409 |  |  | $ | 5,336,046 |
Shelf-stable |  | 2,092,551 |  |  | 1,829,138 |  |  | 1,765,955 |
Poultry |  | 1,886,367 |  |  | 1,849,294 |  |  | 1,842,320 |
Miscellaneous |  | 300,806 |  |  | 448,476 |  |  | 601,379 |
Total |  | $ | 9,608,462 |  |  | $ | 9,497,317 |  |  | $ | 9,545,700 |
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:
|  | Fiscal Year Ended
(in thousands) |  | October 25, 2020 |  | October 27, 2019 |  | October 28, 2018
United States |  | $ | 9,006,007 |  |  | $ | 8,934,911 |  |  | $ | 8,957,305 |
Foreign |  | 602,454 |  |  | 562,406 |  |  | 588,395 |
Total |  | $ | 9,608,462 |  |  | $ | 9,497,317 |  |  | $ | 9,545,700 |

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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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=120311839&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=120395209&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=120311839&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=120311839&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=121556970&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 30 -URI http://asc.fasb.org/extlink&oid=120311839&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