XML 38 R25.htm IDEA: XBRL DOCUMENT
v3.20.2

Derivatives and Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 26, 2020
Derivatives and Fair Value of Financial Instruments |
Schedule of assets and liabilities measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Balance |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
​ | ​ | September 26, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
(Millions of dollars) | ​ | 2020 | ​ | Level 1 | Level 2 | Level 3 |
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trading securities – short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic equity securities | ​ | $ | 613 | ​ | $ | 613 | ​ | $ | — | ​ | $ | — | ​
Domestic debt securities | ​ |  | 391 | ​ |  | 122 | ​ |  | 269 | ​ |  | — | ​
Foreign equity securities | ​ | ​ | 107 | ​ | ​ | 107 | ​ | ​ | — | ​ | ​ | — | ​
Foreign debt securities | ​ | ​ | 57 | ​ | ​ | — | ​ | ​ | 57 | ​ | ​ | — | ​
High yield securities | ​ | ​ | 55 | ​ | ​ | 7 | ​ | ​ | 48 | ​ | ​ | — | ​
Collateralized loan obligations | ​ | ​ | 16 | ​ | ​ | — | ​ | ​ | 16 | ​ | ​ | — | ​
Money market funds held in trading accounts | ​ |  | 2 | ​ |  | 2 | ​ | ​ | — | ​ | ​ | — | ​
Other trading securities | ​ | ​ | 4 | ​ | ​ | 4 | ​ | ​ | — | ​ | ​ | — | ​
Trading securities – other current assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic equity securities | ​ |  | 12 | ​ |  | 12 | ​ |  | — | ​ |  | — | ​
Money market fund held in trading accounts | ​ | ​ | 6 | ​ | ​ | 6 | ​ |  | — | ​ |  | — | ​
Foreign equity securities | ​ |  | 3 | ​ |  | 3 | ​ |  | — | ​ |  | — | ​
Fixed income securities | ​ |  | 2 | ​ |  | 2 | ​ |  | — | ​ |  | — | ​
Long-term investment | ​ | ​ | 31 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 31 | ​
Derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodities | ​ |  | 16 | ​ |  | 16 | ​ |  | — | ​ |  | — | ​
Foreign currencies | ​ |  | 4 | ​ |  | — | ​ |  | 4 | ​ |  | — | ​
Total Assets | ​ | $ | 1,319 | ​ | $ | 894 | ​ | $ | 394 | ​ | $ | 31 | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration | ​ | $ | 15 | ​ | $ | — | ​ | $ | — | ​ | $ | 15 | ​
Derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodities | ​ | ​ | 15 | ​ | ​ | 15 | ​ | ​ | — | ​ | ​ | — | ​
Interest rate swaps | ​ |  | 1 | ​ |  | — | ​ |  | 1 | ​ |  | — | ​
Foreign currencies | ​ |  | 4 | ​ |  | — | ​ |  | 4 | ​ |  | — | ​
Total Liabilities | ​ | $ | 35 | ​ | $ | 15 | ​ | $ | 5 | ​ | $ | 15 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Balance |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
​ | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
(Millions of dollars) | ​ | 2019 | ​ | Level 1 | Level 2 | Level 3 |
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trading securities – short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic equity securities | ​ | $ | 706 | ​ | $ | 706 | ​ | $ | — | ​ | $ | — | ​
Domestic debt securities | ​ | ​ | 409 | ​ | ​ | 117 | ​ | ​ | 292 | ​ | ​ | — | ​
Foreign equity securities | ​ | ​ | 189 | ​ | ​ | 189 | ​ | ​ | — | ​ | ​ | — | ​
High yield securities | ​ |  | 56 | ​ |  | 10 | ​ |  | 46 | ​ |  | — | ​
Foreign debt securities | ​ | ​ | 43 | ​ | ​ | — | ​ | ​ | 43 | ​ | ​ | — | ​
Collateralized loan obligations | ​ | ​ | 15 | ​ | ​ | — | ​ | ​ | 15 | ​ | ​ | — | ​
Money market funds held in trading accounts | ​ | ​ | 12 | ​ | ​ | 12 | ​ | ​ | — | ​ | ​ | — | ​
Other trading securities | ​ |  | 4 | ​ |  | 4 | ​ |  | — | ​ |  | — | ​
Trading securities – other current assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic equity securities | ​ |  | 40 | ​ |  | 40 | ​ |  | — | ​ |  | — | ​
Money market fund held in trading accounts | ​ | ​ | 6 | ​ | ​ | 6 | ​ | ​ | — | ​ |  | — | ​
Foreign equity securities | ​ |  | 3 | ​ |  | 3 | ​ |  | — | ​ |  | — | ​
Fixed income securities | ​ |  | 2 | ​ |  | 2 | ​ |  | — | ​ |  | — | ​
Derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodities | ​ |  | 6 | ​ |  | 6 | ​ |  | — | ​ |  | — | ​
Total Assets | ​ | $ | 1,491 | ​ | $ | 1,095 | ​ | $ | 396 | ​ | $ | — | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration | ​ | $ | 13 | ​ | $ | — | ​ | $ | — | ​ | $ | 13 | ​
Derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodities | ​ | ​ | 4 | ​ | ​ | 4 | ​ | ​ | — | ​ | ​ | — | ​
Foreign currencies | ​ |  | 3 | ​ |  | — | ​ |  | 3 | ​ |  | — | ​
Total Liabilities | ​ | $ | 20 | ​ | $ | 4 | ​ | $ | 3 | ​ | $ | 13 | ​
Schedule of gain or (loss) recognized for each type of derivative and its location in the condensed consolidated statements of comprehensive income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | ​ | ​ | September 26, | ​ | September 28, | ​ | September 26, | ​ | September 28, | ​
(Millions of dollars) |  | ​ |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
Commodities |  | Cost of sales | ​ | $ | 10 | ​ | $ | (17) | ​ | $ | 27 | ​ | $ | (48) | ​
Foreign currencies |  | Cost of sales | ​ |  | 2 | ​ |  | 1 | ​ |  | 15 | ​ |  | 5 | ​
Foreign currencies |  | Foreign currency gains (losses), net | ​ |  | (3) | ​ |  | — | ​ |  | (2) | ​ |  | — | ​
Equity | ​ | Other investment income (loss), net | ​ | ​ | (16) | ​ | ​ | — | ​ | ​ | 7 | ​ | ​ | (3) | ​
Interest rate swaps |  | Interest expense | ​ |  | — | ​ |  | — | ​ |  | (1) | ​ | ​ | — | ​
Schedule of fair value of each type of derivative and its location in the condensed consolidated balance sheets |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Asset Derivatives | ​ | ​ | ​ | Liability Derivatives | ​
​ | ​ | ​ | ​ | September 26, | ​ | December 31, | ​ | ​ | ​ | September 26, | ​ | December 31, | ​
(Millions of dollars) |  | ​ |  | 2020 |  | 2019 |  | ​ |  | 2020 |  | 2019 | ​
Commodities |  | Other current assets | ​ | $ | 16 | ​ | $ | 6 |  | Other current liabilities | ​ | $ | 15 | ​ | $ | 4 | ​
Foreign currencies |  | Other current assets | ​ |  | 4 | ​ |  | — |  | Other current liabilities | ​ |  | 4 | ​ |  | 3 | ​
Interest rate swaps | ​ | Other current assets | ​ | ​ | — | ​ | ​ | — | ​ | Other current liabilities | ​ | ​ | 1 | ​ | ​ | — | ​
Equity |  | Short-term investments | ​ |  | — | ​ |  | — |  | Short-term investments | ​ |  | — | ​ |  | — | ​
Seaboard’s commodity derivative assets and liabilities are presented in the condensed consolidated balance sheets on a net basis, including netting the derivatives with the related margin accounts. As of September 26, 2020 and December 31, 2019, the commodity derivatives had a margin account balance of $18 million and $13 million, respectively, resulting in a net other current asset in the condensed consolidated balance sheets of $19 million and $15 million, respectively. Seaboard’s equity future derivatives are also presented on a net basis, including netting the derivatives within short-term investments.

X
- References No definition available. + Details
Name: | seb_DerivativesAndFairValueOfFinancialInstrumentsDisclosureAbstract
Namespace Prefix: | seb_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration