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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2018
Revenue Recognition |
Schedule of sales disaggregated by revenue source and segment |
|  |  | Three Months Ended June 30, 2018 |
(Millions of dollars) |  |  | Pork |  |  | Commodity Trading & Milling |  |  | Marine |  |  | Sugar |  |  | Power |  |  | All Other |  |  | Consolidated Totals |
Major Products/Services Lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 365 |  | $ | 885 |  | $ | — |  | $ | 60 |  | $ | — |  | $ | 4 |  | $ | 1,314 |
Transportation |  |  | 4 |  |  | — |  |  | 263 |  |  | — |  |  | — |  |  | — |  |  | 267 |
Energy |  |  | 66 |  |  | — |  |  | — |  |  | 1 |  |  | 31 |  |  | — |  |  | 98 |
Other |  |  | 7 |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |
Segment/Consolidated Totals |  | $ | 442 |  | $ | 890 |  | $ | 263 |  | $ | 61 |  | $ | 31 |  | $ | 4 |  | $ | 1,691 |
|  |  | Six Months Ended June 30, 2018 |
(Millions of dollars) |  |  | Pork |  |  | Commodity Trading & Milling |  |  | Marine |  |  | Sugar |  |  | Power |  |  | All Other |  |  | Consolidated Totals |
Major Products/Services Lines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 726 |  | $ | 1,666 |  | $ | — |  | $ | 110 |  | $ | — |  | $ | 8 |  | $ | 2,510 |
Transportation |  |  | 8 |  |  | — |  |  | 512 |  |  | — |  |  | — |  |  | — |  |  | 520 |
Energy |  |  | 159 |  |  | — |  |  | — |  |  | 2 |  |  | 54 |  |  | — |  |  | 215 |
Other |  |  | 15 |  |  | 10 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25 |
Segment/Consolidated Totals |  | $ | 908 |  | $ | 1,676 |  | $ | 512 |  | $ | 112 |  | $ | 54 |  | $ | 8 |  | $ | 3,270 |
ASU 2014-09 |
Revenue Recognition |
Schedule of impacts of adopting ASU 2014-09 |
Consolidated Statement of Comprehensive Income |  |  |  |  |  |  |  |  |  |
|  |  | Three Months Ended |  | Six Months Ended
|  |  | June 30, 2018 |  |  | June 30, 2018
|  |  | Balances Without |  |  |  |  |  |  |  |  | Balances Without |  |  |  |  |  |  |
|  |  | Adoption |  |  |  |  |  | As |  |  | Adoption |  |  |  |  |  | As |
(Millions of dollars) |  |  | of Topic 606 |  |  | Adjustments |  |  | Reported |  |  | of Topic 606 |  |  | Adjustments |  |  | Reported |
Total net sales |  | $ | 1,666 |  | $ | 25 |  | $ | 1,691 |  | $ | 3,241 |  | $ | 29 |  | $ | 3,270 |
Total cost of sales |  | $ | 1,550 |  | $ | 25 |  | $ | 1,575 |  | $ | 2,954 |  | $ | 28 |  | $ | 2,982 |
Net earnings |  | $ | 7 |  | $ | — |  | $ | 7 |  | $ | 38 |  | $ | 1 |  | $ | 39 |
Consolidated Balance Sheet |  |  | June 30, 2018
|  |  | Balances Without |  |  |  |  |  | As |
(Millions of dollars) |  |  | Adoption of Topic 606 |  |  | Adjustments |  |  | Reported |
Receivables, net |  | $ | 501 |  | $ | 20 |  | $ | 521 |
Inventories |  | $ | 916 |  | $ | (42) |  | $ | 874 |
Other current assets |  | $ | 127 |  | $ | 1 |  | $ | 128 |
Deferred revenue |  | $ | 79 |  | $ | (23) |  | $ | 56 |
Other current liabilities |  | $ | 282 |  | $ | 1 |  | $ | 283 |
Total Seaboard stockholders’ equity |  | $ | 3,402 |  | $ | 1 |  | $ | 3,403 |
Consolidated Statement of Cash Flows |  |  | Six Months Ended June 30, 2018
|  |  | Balances Without |  |  |  |  |  | As |
(Millions of dollars) |  |  | Adoption of Topic 606 |  |  | Adjustments |  |  | Reported |
Net earnings |  | $ | 38 |  | $ | 1 |  | $ | 39 |
Changes in assets and liabilities, net of acquisitions: |  |  |  |  |  |  |  |
Receivables, net of allowance |  | $ | 10 |  | $ | (20) |  | $ | (10) |
Inventories |  | $ | (131) |  | $ | 42 |  | $ | (89) |
Other current assets |  | $ | 49 |  | $ | (1) |  | $ | 48 |
Current liabilities, exclusive of debt |  | $ | (35) |  | $ | (22) |  | $ | (57) |

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