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Operating Gains and Non-Operating Gains | 12 Months Ended
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Dec. 29, 2024
Other Income and Expenses [Abstract] |
Operating Gains and Non-Operating Gains | OPERATING GAINS AND NON-OPERATING GAINS The following table provides details of operating gains and non-operating gains.
| Fiscal Year
| 2024 |  | 2023 |  | 2022
| (in millions)
Operating gains: |  |  |  |  |
Gain on disposal of assets (1) | $ | (43) |  |  | $ | (88) |  |  | $ | — |
Insurance recoveries | (9) |  |  | (5) |  |  | (6) |
Gain on sale of businesses (2) | — |  |  | (1) |  |  | (417) |
Other operating gains | (8) |  |  | (11) |  |  | (6) |
Total operating gains | $ | (60) |  |  | $ | (105) |  |  | $ | (429) |
Non-operating gains: |  |  |  |  |
(Gain) loss on nonqualified retirement plan assets | $ | (17) |  |  | $ | (15) |  |  | $ | 26 |
Gain on the sale/dilution of equity method investments (3) | — |  |  | — |  |  | (56) |
Impairment of investment (4) | — |  |  | — |  |  | 40 |
Net pension and postretirement benefits cost (benefit) (5) | 10 |  |  | 10 |  |  | (28) |
Other non-operating (gains) losses | (2) |  |  | 1 |  |  | 1 |
Total non-operating gains | $ | (9) |  |  | $ | (3) |  |  | $ | (18) |
________________ (1)Fiscal year 2024 includes a $32 million gain on the sale of hog farms in Utah and a $6 million gain on the sale of assets to Murphy Family Farms LLC (“Murphy Family Farms”). Fiscal year 2023 includes an $86 million gain on the sale of our Vernon, California plant. See “Note 6: Restructuring” for further information. (2)Fiscal year 2022 includes the $417 million gain on the sale of Saratoga. (3)In February 2022, our interest in Monarch Bioenergy LLC (“Monarch”), was reduced from 50% to 33% upon the issuance of additional shares to a new investor. The transaction was accounted for as a partial sale of our investment, which resulted in a $52 million gain. In addition, in November 2022, we sold our shares in Norson Holding, S. de R.L. de C.V. (“Norson”) to our joint venture partner and recognized a $4 million gain on the sale in non-operating gains in the fourth quarter of 2022. (4)In the first quarter of fiscal year 2022, we wrote down the value of our former investment in Norson by $40 million to its estimated fair value. (5)Includes the components of net pension and postretirement benefits cost other than service cost, which is included in operating profit. These components consist of interest cost, expected return on plan assets, amortization of actuarial gains/losses and prior service costs/credits, and curtailment gains.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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