INVESTMENTS (Tables)

3 Months Ended

Jul. 28, 2013

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments [Table Text Block]

Investments consist of the following:



Equity Investment	% Owned	July 28, 2013		April 28, 2013
		(in millions)
Campofrío Food Group (CFG)	37%	$	384.3	$	376.2
Mexican joint ventures	50%	121.4		129.6
Other	Various	27.9		26.6
Total investments		$	533.6	$	532.4

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.



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
April 28, 2013 ⁽¹⁾	€	4.99	€	7.64
July 28, 2013 ^{(1) (2)}	€	5.22	€	7.65

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


⁽²⁾	During the first quarter of fiscal 2014, CFG's share price traded as high as €5.88 per share (May 30, 2013).

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
Equity Investment	Segment	July 28, 2013			July 29, 2012
		(in millions)
CFG ⁽¹⁾	International	$	(0.1	)	$	(0.1	)
Mexican joint ventures	International	3.0			0.4
All other equity method investments	Various	(1.2		)	(1.0		)
(Income) loss from equity method investments		$	1.7		$	(0.7	)

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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.