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Restructuring (Tables)

12 Months Ended

Dec. 29, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table details the charges by major type of cost.

			Fiscal Year																		Cumulative
			2024						2023						2022
			(in millions)
Accelerated depreciation (1)			$	3					$	85					$	83					$	171
Contract termination costs			9						42						6						57
Employee termination benefits			1						3						28						32
Loss on asset disposals (2)			4						2						3						9
Other exit costs			15						64						31						110
Total			$	31					$	195					$	151					$	377

________________

(1)Accelerated depreciation includes $11 million and $20 million for AROs in fiscal years 2023 and 2022, respectively, which were recorded in connection with the decisions to close certain Company-owned farms in accordance with our general permit for concentrated animal feeding operations in the State of Utah.

(2)On November 26, 2024, we sold certain hog farms in Missouri for $32 million. The transaction resulted in a loss of $4 million.

Schedule of Restructuring Reserve by Type of Cost

The following table reconciles the beginning and ending liability balances associated with these restructuring activities.

			Balance, January 1, 2023						Additions						Payments						Balance, December 31, 2023						Additions						Payments						Balance, December 29, 2024
			(in millions)
Contract termination costs			$	5					$	42					$	(5)					$	42					$	13					$	(54)					$	—
Employee termination benefits			27						3						(28)						2						2						(4)						—
Other exit costs			—						64						(56)						8						5						(12)						—
Total			$	33					$	108					$	(89)					$	52					$	19					$	(70)					$	1

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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