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Equity Method Investments | 12 Months Ended
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Dec. 29, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | EQUITY METHOD INVESTMENTS Equity method investments consist of the following:
Equity Investments |  | % Owned |  | December 29, 2024 |  | December 31, 2023
|  |  |  | (in millions)
Align |  | 50 | % |  | $ | 83 |  |  | $ | 75 |
Monarch |  | 33 | % |  | 95 |  |  | 93 |
Murphy Family Farms |  | 25 | % |  | 3 |  |  | — |
Viceroy |  | 50 | % |  | 1 |  |  | 6 |
All other equity method investments |  | 50 | % |  | 20 |  |  | 18 |
Total investments |  |  |  | $ | 202 |  |  | $ | 191 |
Align, Monarch and Viceroy Bio Energy, LLC (“Viceroy”) operate renewable natural gas facilities, which refine methane gas that is captured from our Company-owned and contract grower hog farms into renewable natural gas. All significant operating decisions are made jointly between us and our investment partners, and therefore, we do not consolidate these entities. On January 16, 2025, TPG Rise Climate, one of the other two equal joint venture partners in Monarch, delivered a sale notice under the joint venture agreement, pursuant to which Monarch must pursue a sale of the joint venture. In the event that a sale of Monarch is not consummated before January 17, 2026, TPG Rise Climate may require that Monarch purchase TPG Rise Climate’s ownership interests in Monarch. Murphy Family Farms and VisionAg Hog Production On December 27, 2024, we became a member of a North Carolina-based company, Murphy Family Farms and on February 24, 2025, we became a member of a North Carolina-based company, VisionAg. See “Note 6: Restructuring” for more information. We expect to account for Murphy Family Farms and Vision Ag under the equity method of accounting.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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