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REPORTING SEGMENTS Reporting Segments (Tables) | 12 Months Ended
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Apr. 29, 2012
Segment Reporting Information [Line Items] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following tables present information about the results of operations and the assets of our reportable segments for the fiscal years presented. The information contains certain allocations of expenses that we deem reasonable and appropriate for the evaluation of results of operations. We do not allocate income taxes to segments. Segment assets exclude intersegment account balances as we believe their inclusion would be misleading or not meaningful. We believe all intersegment sales are at prices that approximate market.
|  | Fiscal Years
|  | 2012 |  | 2011 |  | 2010
|  | (in millions)
Segment Profit Information |  |  |  |  |  |
Sales: |  |  |  |  |  |
Segment sales— |  |  |  |  |  |
Pork |  | $ | 11,093.0 |  |  | $ | 10,263.9 |  |  | $ | 9,326.3 |
Hog Production |  | 3,052.6 |  |  | 2,705.1 |  |  | 2,207.8 |
International |  | 1,466.7 |  |  | 1,340.7 |  |  | 1,277.2 |
Other |  | — |  |  | 74.7 |  |  | 153.3 |
Total segment sales |  | 15,612.3 |  |  | 14,384.4 |  |  | 12,964.6 |
Intersegment sales— |  |  |  |  |  |
Pork |  | (37.1 | ) |  | (30.5 | ) |  | (31.5 | )
Hog Production |  | (2,444.6 | ) |  | (2,113.0 | ) |  | (1,695.0 | )
International |  | (36.3 | ) |  | (38.2 | ) |  | (35.5 | )
Total intersegment sales |  | (2,518.0 | ) |  | (2,181.7 | ) |  | (1,762.0 | )
Consolidated sales |  | $ | 13,094.3 |  |  | $ | 12,202.7 |  |  | $ | 11,202.6 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Pork |  | $ | 127.8 |  |  | $ | 125.5 |  |  | $ | 126.0 |
Hog Production |  | 71.9 |  |  | 65.7 |  |  | 74.9 |
International |  | 39.9 |  |  | 38.1 |  |  | 37.4 |
Other |  | — |  |  | 0.1 |  |  | 0.2 |
Corporate |  | 3.2 |  |  | 2.5 |  |  | 3.8 |
Consolidated depreciation and amortization |  | $ | 242.8 |  |  | $ | 231.9 |  |  | $ | 242.3 |
Interest expense: |  |  |  |  |  |  |  |  |
Pork |  | $ | 28.7 |  |  | $ | 42.4 |  |  | $ | 48.9 |
Hog Production |  | 131.8 |  |  | 124.5 |  |  | 100.5 |
International |  | 29.8 |  |  | 28.2 |  |  | 37.7 |
Other |  | — |  |  | 4.2 |  |  | 6.9 |
Corporate |  | (13.6 | ) |  | 46.1 |  |  | 72.4 |
Consolidated interest expense |  | $ | 176.7 |  |  | $ | 245.4 |  |  | $ | 266.4 |
Loss (income) from equity method investments |  |  |  |  |  |  |  |  |
Pork |  | $ | (2.7 | ) |  | $ | (2.0 | ) |  | $ | (3.6 | )
Hog Production |  | 0.3 |  |  | (0.4 | ) |  | 0.7 |
International |  | 12.3 |  |  | (46.5 | ) |  | (17.2 | )
Other |  | — |  |  | (1.2 | ) |  | (18.5 | )
Consolidated loss (income) from equity method investments |  | $ | 9.9 |  |  | $ | (50.1 | ) |  | $ | (38.6 | )
Operating profit: |  |  |  |  |  |  |  |  |
Pork |  | $ | 623.7 |  |  | $ | 753.4 |  |  | $ | 538.7 |
Hog Production |  | 166.1 |  |  | 224.4 |  |  | (539.2 | )
International |  | 42.8 |  |  | 115.9 |  |  | 127.9 |
Other |  | — |  |  | (2.4 | ) |  | 3.6 |
Corporate |  | (110.0 | ) |  | 3.7 |  |  | (68.2 | )
Consolidated operating profit |  | $ | 722.6 |  |  | $ | 1,095.0 |  |  | $ | 62.8 |
|  | April 29, 2012 |  | May 1, 2011 |  | May 2, 2010
|  | (in millions)
Segment Asset Information |  |  |  |  |  |
Total assets: |  |  |  |  |  |
Pork |  | $ | 2,245.6 |  |  | $ | 2,620.2 |  |  | $ | 2,579.3 |
Hog Production |  | 2,145.4 |  |  | 2,074.2 |  |  | 2,020.9 |
International |  | 1,651.4 |  |  | 1,902.3 |  |  | 1,670.1 |
Other |  | — |  |  | — |  |  | 169.4 |
Corporate |  | 1,379.8 |  |  | 1,015.1 |  |  | 1,269.2 |
Consolidated total assets |  | $ | 7,422.2 |  |  | $ | 7,611.8 |  |  | $ | 7,708.9 |
Investments: |  |  |  |  |  |  |  |  |
Pork |  | $ | 18.6 |  |  | $ | 17.4 |  |  | $ | 17.1 |
Hog Production |  | 2.6 |  |  | 2.7 |  |  | 2.4 |
International |  | 501.2 |  |  | 562.1 |  |  | 498.7 |
Other |  | — |  |  | — |  |  | 106.7 |
Corporate |  | 0.2 |  |  | 0.3 |  |  | 0.1 |
Consolidated investments |  | $ | 522.6 |  |  | $ | 582.5 |  |  | $ | 625.0 |
Capital expenditures: |  |  |  |  |  |  |  |  |
Pork |  | $ | 143.5 |  |  | $ | 81.3 |  |  | $ | 141.7 |
Hog Production |  | 89.4 |  |  | 68.6 |  |  | 10.0 |
International |  | 26.5 |  |  | 26.8 |  |  | 22.1 |
Corporate |  | 31.3 |  |  | 0.1 |  |  | 0.9 |
Consolidated capital expenditures |  | $ | 290.7 |  |  | $ | 176.8 |  |  | $ | 174.7 |
Schedule of Goodwill [Table Text Block] | The following table shows the change in the carrying amount of goodwill by reportable segment:
|  | Pork |  | International |  | Hog Production |  | Other |  | Total
|  | (in millions)
Balance, May 2, 2010 |  | $ | 216.5 |  |  | $ | 141.4 |  |  | $ | 445.5 |  |  | $ | 19.5 |  |  | $ | 822.9 |
Disposals (1) |  | — |  |  | — |  |  | (25.5 | ) |  | (19.5 | ) |  | (45.0 | )
Other goodwill adjustments (2) |  | (0.4 | ) |  | 15.8 |  |  | — |  |  | — |  |  | 15.4 |
Balance, May 1, 2011 |  | 216.1 |  |  | 157.2 |  |  | 420.0 |  |  | — |  |  | 793.3 |
Other goodwill adjustments (2) |  | (0.4 | ) |  | (24.7 | ) |  | — |  |  | — |  |  | (25.1 | )
Balance, April 29, 2012 |  | $ | 215.7 |  |  | $ | 132.5 |  |  | $ | 420.0 |  |  | $ | — |  |  | $ | 768.2 |
——————————————
(1) | See Note 3—Impairment and Disposal of Long-lived Assets for discussion of disposals and impairments.
(2) | Other goodwill adjustments primarily include the effects of foreign currency translation.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | The following table presents our consolidated sales and long-lived assets attributed to operations by geographic area for the fiscal years ended April 29, 2012, May 1, 2011 and May 2, 2010:
|  | Fiscal Years
|  | 2012 |  | 2011 |  | 2010
|  | (in millions)
Sales: |  |  |  |  |  |
U.S. |  | $ | 11,663.9 |  |  | $ | 10,900.2 |  |  | $ | 9,960.9 |
International |  | 1,430.4 |  |  | 1,302.5 |  |  | 1,241.7 |
Total sales |  | $ | 13,094.3 |  |  | $ | 12,202.7 |  |  | $ | 11,202.6 |
|  | April 29, 2012 |  | May 1, 2011 |  | May 2, 2010
| (in millions)
Long-lived assets: |  |  |  |  |  |  |  |  |
U.S. |  | $ | 2,969.1 |  |  | $ | 2,905.7 |  |  | $ | 3,142.1 |
International |  | 1,154.1 |  |  | 1,368.2 |  |  | 1,246.5 |
Total long-lived assets |  | $ | 4,123.2 |  |  | $ | 4,273.9 |  |  | $ | 4,388.6 |
Pork Segment [Member] |
Segment Reporting Information [Line Items] |
Schedule of Segment Revenue by Product [Table Text Block] | The following table shows the percentages of Pork segment revenues derived from packaged meats and fresh pork for the fiscal years indicated.
|  | Fiscal Years
|  | 2012 |  | 2011 |  | 2010
Packaged meats |  | 54 | % |  | 56 | % |  | 55 | %
Fresh pork (1) |  | 46 |  |  | 44 |  |  | 45 |
|  | 100 | % |  | 100 | % |  | 100 | %
——————————————
(1) | Includes by-products and rendering.
Hog Production Segment [Member] |
Segment Reporting Information [Line Items] |
Schedule of Segment Revenue by Product [Table Text Block] | The following table shows the percentages of Hog Production segment revenues derived from hogs sold internally and externally, and other products for the fiscal years indicated.
|  | Fiscal Years
|  | 2012 |  | 2011 |  | 2010
Internal hog sales |  | 80 | % |  | 78 | % |  | 77 | %
External hog sales |  | 12 |  |  | 15 |  |  | 15 |
Other products (1) |  | 8 |  |  | 7 |  |  | 8 |
|  | 100 | % |  | 100 | % |  | 100 | %
——————————————
(1) | Consists primarily of feed, non-market hog sales and gains (losses) on derivatives.
International Segment [Member] |
Segment Reporting Information [Line Items] |
Schedule of Segment Revenue by Product [Table Text Block] | The following table shows the percentages of International segment revenues derived from packaged meats, fresh meats and other products for the fiscal years indicated.
|  | Fiscal Years
|  | 2012 |  | 2011 |  | 2010
Packaged meats |  | 47 | % |  | 47 | % |  | 48 | %
Fresh meats |  | 43 |  |  | 42 |  |  | 41 |
Other products (1) |  | 10 |  |  | 11 |  |  | 11 |
|  | 100 | % |  | 100 | % |  | 100 | %
——————————————
(1) | Includes external hog sales, feed, feathers, by-products and rendering.

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 + Details
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