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Segment Information (Tables) | 9 Months Ended
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Sep. 29, 2018
Summary of specific financial information related to sales to external customers |
Sales to External Customers: |  | Three Months Ended |  | Nine Months Ended |
|  | September 29, |  | September 30, |  | September 29, |  | September 30, |
(Millions of dollars) |  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Pork |  | $ | 412 |  | $ | 404 |  | $ | 1,320 |  | $ | 1,188 |
Commodity Trading and Milling |  |  | 898 |  |  | 694 |  |  | 2,574 |  |  | 2,122 |
Marine |  |  | 259 |  |  | 225 |  |  | 771 |  |  | 691 |
Sugar |  |  | 43 |  |  | 50 |  |  | 155 |  |  | 138 |
Power |  |  | 34 |  |  | 25 |  |  | 88 |  |  | 72 |
All Other |  |  | 5 |  |  | 4 |  |  | 13 |  |  | 12 |
Segment/Consolidated Totals |  | $ | 1,651 |  | $ | 1,402 |  | $ | 4,921 |  | $ | 4,223 |
Summary of specific financial information related to operating income (loss) |
Operating Income (Loss): |  | Three Months Ended |  | Nine Months Ended |
|  | September 29, |  | September 30, |  | September 29, |  | September 30, |
(Millions of dollars) |  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Pork |  | $ | 2 |  | $ | 59 |  | $ | 111 |  | $ | 162 |
Commodity Trading and Milling |  |  | 21 |  |  | 7 |  |  | 30 |  |  | 25 |
Marine |  |  | 9 |  |  | 4 |  |  | 9 |  |  | 8 |
Sugar |  |  | 5 |  |  | 6 |  |  | 17 |  |  | 12 |
Power |  |  | 7 |  |  | 3 |  |  | 13 |  |  | 7 |
All Other |  |  | 1 |  |  | — |  |  | 2 |  |  | 1 |
Segment Totals |  |  | 45 |  |  | 79 |  |  | 182 |  |  | 215 |
Corporate |  |  | (8) |  |  | (6) |  |  | (16) |  |  | (19) |
Consolidated Totals |  | $ | 37 |  | $ | 73 |  | $ | 166 |  | $ | 196 |
Summary of specific financial information related to income (loss) from affiliates |
Income (Loss) from Affiliates: |  | Three Months Ended |  | Nine Months Ended |
|  | September 29, |  | September 30, |  | September 29, |  | September 30, |
(Millions of dollars) |  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Pork |  | $ | (8) |  | $ | (4) |  | $ | (21) |  | $ | (1) |
Commodity Trading and Milling |  |  | (4) |  |  | (1) |  |  | (10) |  |  | 5 |
Marine |  |  | — |  |  | (1) |  |  | 1 |  |  | (7) |
Sugar |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Power |  |  | 4 |  |  | 2 |  |  | 7 |  |  | 3 |
Turkey |  |  | (11) |  |  | — |  |  | (18) |  |  | (11) |
Segment/Consolidated Totals |  | $ | (18) |  | $ | (3) |  | $ | (40) |  | $ | (10) |
Summary of specific financial information related to total assets |
Total Assets: |  | September 29, |  | December 31, |
(Millions of dollars) |  | 2018 |  | 2017 |
Pork |  | $ | 1,298 |  | $ | 1,309 |
Commodity Trading and Milling |  |  | 1,467 |  |  | 964 |
Marine |  |  | 336 |  |  | 376 |
Sugar |  |  | 135 |  |  | 197 |
Power |  |  | 180 |  |  | 188 |
Turkey |  |  | 292 |  |  | 315 |
All Other |  |  | 8 |  |  | 4 |
Segment Totals |  |  | 3,716 |  |  | 3,353 |
Corporate |  |  | 1,719 |  |  | 1,808 |
Consolidated Totals |  | $ | 5,435 |  | $ | 5,161 |
Summary of specific financial information related to investments in and advances to affiliates |
Investments in and Advances to Affiliates: |  | September 29, |  | December 31, |
(Millions of dollars) |  | 2018 |  | 2017 |
Pork |  | $ | 207 |  | $ | 231 |
Commodity Trading and Milling |  |  | 260 |  |  | 240 |
Marine |  |  | 29 |  |  | 28 |
Sugar |  |  | 4 |  |  | 4 |
Power |  |  | 31 |  |  | 38 |
Turkey |  |  | 292 |  |  | 310 |
Segment/Consolidated Totals |  | $ | 823 |  | $ | 851 |
Butterball, LLC |
Summary of specific financial information related to equity method |
|  | Three Months Ended |  | Nine Months Ended |
|  |  | September 29, |  |  | September 30, |  |  | September 29, |  |  | September 30, |
(Millions of dollars) |  |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Net sales |  | $ | 399 |  | $ | 439 |  | $ | 1,046 |  | $ | 1,143 |
Operating income (loss) |  | $ | (19) |  | $ | 9 |  | $ | (29) |  | $ | (1) |
Net income (loss) |  | $ | (23) |  | $ | 1 |  | $ | (36) |  | $ | (21) |
Mimran |
Summary of total purchase price for this acquisition subject to working capital adjustment, based on acquisition date fair values and using the exchange rate in effect at the time of acquisition |
(Millions of dollars) |  |  | Fair Value |
Cash payment, net of $64 million of cash acquired |  | $ | 270 |
Euro-denominated note payable due 2021, 3.25% interest |  |  | 46 |
Contingent consideration |  |  | 14 |
Total fair value of consideration at acquisition date |  | $ | 330 |
Schedule of allocation of purchase price |
(Millions of dollars) |  |  | Fair Value |
Current assets |  | $ | 84 |
Property, plant and equipment |  |  | 57 |
Intangible assets |  |  | 100 |
Goodwill |  |  | 161 |
Other long-term assets |  |  | 4 |
Total fair value of assets acquired |  |  | 406 |
Current liabilities |  |  | (38) |
Other long-term liabilities |  |  | (34) |
Total fair value of liabilities assumed |  |  | (72) |
Less: Noncontrolling interest |  |  | (4) |
Net fair value of assets acquired |  | $ | 330 |
Schedule of proforma information related to acquisitions |
|  | Three Months Ended | Nine Months Ended |
|  |  | September 29, |  | September 30, | September 29, |  | September 30, |
(Millions of dollars except per share amounts) |  |  | 2018 |  | 2017 | 2018 |  | 2017 |
Net sales |  | $ | 1,651 |  | $ | 1,475 |  | $ | 4,981 |  | $ | 4,431 |
Net earnings |  | $ | 35 |  | $ | 87 |  | $ | 78 |  | $ | 243 |
Earnings per common share |  | $ | 29.93 |  | $ | 74.42 |  | $ | 67.90 |  | $ | 207.81 |

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