INVESTMENTS (Tables)

9 Months Ended

Jan. 27, 2013

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments [Table Text Block]

Investments consist of the following:



Equity Investment	% Owned	January 27, 2013		April 29, 2012
		(in millions)
Campofrío Food Group (CFG)	37%	$	389.0	$	385.2
Mexican joint ventures	50%	121.6		111.2
Other	Various	25.9		26.2
Total investments		$	536.5	$	522.6

Per Share Price for Equtiy Method Investment [Table Text Block]

The table below shows CFG's intra-day high share price and Smithfield's carrying value, expressed in euro per share, on various dates relevant to our disclosures during the last 21 months.



Date	Share Price		Carrying Value
May 5, 2011	€	9.27	€	7.93
February 17, 2012	€	7.20	€	7.54
April 29, 2012 ⁽¹⁾	€	6.30	€	7.70
October 28, 2012 ⁽¹⁾	€	5.69	€	7.65
January 27, 2013 ⁽¹⁾	€	4.85	€	7.64

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⁽¹⁾	Share prices on quarter end date reflect the last trading day in the quarter.

Schedule of Equity in (Income) Loss of Equity Method Investments [Table Text Block]

(Income) loss from equity method investments consists of the following:



		Three Months Ended						Nine Months Ended
Equity Investment	Segment	January 27, 2013			January 29, 2012			January 27, 2013			January 29, 2012
		(in millions)						(in millions)
CFG ⁽¹⁾	International	$	(5.8	)	$	28.2		$	(7.2	)	$	24.0
Mexican joint ventures	International	(0.6		)	(6.4		)	(6.1		)	(11.3		)
All other equity method investments	Various	—			0.2			(0.5		)	(1.4		)
(Income) loss from equity method investments		$	(6.4	)	$	22.0		$	(13.8	)	$	11.3

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⁽¹⁾	CFG prepares its financial statements in accordance with International Financial Reporting Standards. Our share of CFG’s results reflects U.S. GAAP adjustments and thus, there may be differences between the amounts we report for CFG and the amounts reported by CFG.

- Definition

Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.

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