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v3.21.2

Segment Reporting (Tables) | 12 Months Ended
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Oct. 31, 2021
Segment Reporting [Abstract] |
Schedule of sales and operating profits for each of the reportable segments and reconciliation to earnings before income taxes | Sales and segment profit 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) |  | 2021 |  | 2020 |  | 2019
Sales to Unaffiliated Customers |  |  |  |  |  |
Grocery Products |  | $ | 2,809,445 |  |  | $ | 2,385,291 |  |  | $ | 2,369,317 |
Refrigerated Foods |  | 6,333,410 |  |  | 5,271,061 |  |  | 5,210,741 |
Jennie-O Turkey Store |  | 1,495,151 |  |  | 1,333,459 |  |  | 1,323,783 |
International & Other |  | 748,183 |  |  | 618,650 |  |  | 593,476 |
Total |  | $ | 11,386,189 |  |  | $ | 9,608,462 |  |  | $ | 9,497,317 |
Intersegment Sales |  |  |  |  |  |
Grocery Products |  | $ | — |  |  | $ | 13 |  |  | $ | 41 |
Refrigerated Foods |  | 28,019 |  |  | 21,067 |  |  | 16,351 |
Jennie-O Turkey Store |  | 134,563 |  |  | 108,276 |  |  | 123,712 |
International & Other |  | — |  |  | — |  |  | — |
Total |  | 162,582 |  |  | 129,356 |  |  | 140,104 |
Intersegment Elimination |  | (162,582) |  |  | (129,356) |  |  | (140,104) |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Net Sales |  |  |  |  |  |
Grocery Products |  | $ | 2,809,445 |  |  | $ | 2,385,304 |  |  | $ | 2,369,358 |
Refrigerated Foods |  | 6,361,429 |  |  | 5,292,128 |  |  | 5,227,092 |
Jennie-O Turkey Store |  | 1,629,714 |  |  | 1,441,735 |  |  | 1,447,495 |
International & Other |  | 748,183 |  |  | 618,650 |  |  | 593,476 |
Intersegment Elimination |  | (162,582) |  |  | (129,356) |  |  | (140,104) |
Total |  | $ | 11,386,189 |  |  | $ | 9,608,462 |  |  | $ | 9,497,317 |
Segment Profit |  |  |  |  |  |
Grocery Products |  | $ | 382,197 |  |  | $ | 358,008 |  |  | $ | 339,497 |
Refrigerated Foods |  | 664,558 |  |  | 609,406 |  |  | 681,763 |
Jennie-O Turkey Store |  | 76,006 |  |  | 105,585 |  |  | 117,962 |
International & Other |  | 115,943 |  |  | 93,782 |  |  | 75,513 |
Total Segment Profit |  | $ | 1,238,704 |  |  | $ | 1,166,782 |  |  | $ | 1,214,735 |
Net Unallocated Expense |  | 112,836 |  |  | 52,307 |  |  | 5,362 |
Noncontrolling Interest |  | 301 |  |  | 272 |  |  | 342 |
Earnings Before Income Taxes |  | $ | 1,126,170 |  |  | $ | 1,114,747 |  |  | $ | 1,209,715 |
Assets |  |  |  |  |  |
Grocery Products |  | $ | 4,711,475 |  |  | $ | 1,713,883 |  |  | $ | 1,774,235 |
Refrigerated Foods |  | 4,900,427 |  |  | 4,188,250 |  |  | 3,583,639 |
Jennie-O Turkey Store |  | 1,073,249 |  |  | 1,111,318 |  |  | 1,023,787 |
International & Other |  | 800,828 |  |  | 721,729 |  |  | 692,310 |
Corporate |  | 1,210,351 |  |  | 2,173,101 |  |  | 1,035,033 |
Total |  | $ | 12,696,329 |  |  | $ | 9,908,282 |  |  | $ | 8,109,004 |
Additions to Property, Plant, & Equipment |  |  |  |  |  |
Grocery Products |  | $ | 19,911 |  |  | $ | 34,409 |  |  | $ | 37,892 |
Refrigerated Foods |  | 159,380 |  |  | 249,441 |  |  | 174,506 |
Jennie-O Turkey Store |  | 14,606 |  |  | 42,042 |  |  | 31,607 |
International & Other |  | 8,626 |  |  | 3,737 |  |  | 9,248 |
Corporate |  | 29,894 |  |  | 37,872 |  |  | 40,585 |
Total |  | $ | 232,416 |  |  | $ | 367,501 |  |  | $ | 293,838 |
Depreciation and Amortization |  |  |  |  |  |
Grocery Products |  | $ | 34,645 |  |  | $ | 32,148 |  |  | $ | 31,406 |
Refrigerated Foods |  | 116,206 |  |  | 97,317 |  |  | 77,100 |
Jennie-O Turkey Store |  | 47,669 |  |  | 46,322 |  |  | 34,696 |
International & Other |  | 15,244 |  |  | 16,226 |  |  | 10,666 |
Corporate |  | 14,643 |  |  | 13,767 |  |  | 11,342 |
Total |  | $ | 228,406 |  |  | $ | 205,781 |  |  | $ | 165,210 |
Schedule of total revenues contributed by sales channel | The amounts of total revenues contributed by sales channel for the last three fiscal years are:
|  | Fiscal Year Ended
(in thousands) |  | October 31, 2021 |  | October 25, 2020 |  | October 27, 2019
U.S. Retail |  | $ | 6,196,761 |  |  | $ | 5,441,412 |  |  | $ | 4,947,398 |
U.S. Foodservice |  | 3,239,424 |  |  | 2,489,644 |  |  | 2,943,352 |
U.S. Deli |  | 1,087,081 |  |  | 970,327 |  |  | 939,069 |
International |  | 862,923 |  |  | 707,078 |  |  | 667,498 |
Total |  | $ | 11,386,189 |  |  | $ | 9,608,462 |  |  | $ | 9,497,317 |
Schedule of total revenues contributed by classes of similar products | The amounts of total revenues contributed by classes of similar products for the last three fiscal years are:
|  | Fiscal Year Ended
(in thousands) |  | October 31, 2021 |  | October 25, 2020 |  | October 27, 2019
Perishable |  | $ | 6,271,164 |  |  | $ | 5,328,738 |  |  | $ | 5,370,409 |
Shelf-stable |  | 2,661,194 |  |  | 2,092,551 |  |  | 1,829,138 |
Poultry |  | 2,100,356 |  |  | 1,886,367 |  |  | 1,849,294 |
Miscellaneous |  | 353,475 |  |  | 300,806 |  |  | 448,476 |
Total |  | $ | 11,386,189 |  |  | $ | 9,608,462 |  |  | $ | 9,497,317 |
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 31, 2021 |  | October 25, 2020 |  | October 27, 2019
United States |  | $ | 10,653,088 |  |  | $ | 9,006,007 |  |  | $ | 8,934,911 |
Foreign |  | 733,101 |  |  | 602,454 |  |  | 562,406 |
Total |  | $ | 11,386,189 |  |  | $ | 9,608,462 |  |  | $ | 9,497,317 |

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