XML 48 R30.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Commitments and Contingencies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Loss Contingencies [Table] |
Summary of non-cancelable commitments under contractual obligations |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31, | ​ |  | ​ | ​ |  | ​
(Millions of dollars) |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 | ​ | Thereafter |  | Totals
Hog procurement contracts (a) | ​ | $ | 129 | ​ | $ | 94 | ​ | $ | 92 | ​ | $ | 95 | ​ | $ | 82 | ​ | $ | 22 | ​ | $ | 514
Grain and feedstock commitments (b) | ​ |  | 424 | ​ |  | 250 | ​ |  | 152 | ​ |  | 24 | ​ |  | 18 | ​ |  | — | ​ |  | 868
Grain purchase contracts for resale (c) | ​ | ​ | 1,022 | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,025
Fuel supply contracts (d) | ​ |  | 87 | ​ |  | 55 | ​ |  | 69 | ​ |  | 79 | ​ |  | 91 | ​ |  | 373 | ​ |  | 754
Capital expenditures (e) | ​ | ​ | 221 | ​ | ​ | 17 | ​ | ​ | 89 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 327
Other commitments | ​ |  | 177 | ​ |  | 4 | ​ |  | 4 | ​ |  | 3 | ​ |  | 3 | ​ |  | 24 | ​ |  | 215
Total unrecognized non-cancelable commitments | ​ | $ | 2,060 | ​ | $ | 423 | ​ | $ | 406 | ​ | $ | 201 | ​ | $ | 194 | ​ | $ | 419 | ​ | $ | 3,703
| (a) | The Pork segment has contracted with third parties for the purchase of hogs to support its operations. The amounts are based on projected market prices as of December 31, 2021. During 2021, 2020 and 2019, the Pork segment paid $145 million, $108 million and $121 million, respectively, for hogs purchased under committed contracts.
| (b) | The Pork segment enters into grain purchase and feedstock contracts to support its operations. For variable costs, the amounts are based on projected commodity prices as of December 31, 2021.
| (c) | The CT&M segment enters into grain purchase contracts, primarily to support firm sales commitments. The amounts are based on projected commodity prices as of December 31, 2021.
| (d) | The Power segment has a natural gas supply contract for a significant portion of the fuel required for the barge under construction. Also, the Marine segment has a fuel supply agreement to purchase natural gas for the vessels under construction. The variable price components are based on market prices as of December 31, 2021.
| (e) | The capital expenditures are primarily for the Marine segment’s purchase of two vessels in 2022 and construction of three vessels with expected delivery in 2024, based on contracts. The biogas recovery and other projects in the Pork segment are based on commitments per respective contracts.

X
- Definition Discloses the specific components (such as the nature, name, and date) of the loss contingency and gives an estimate of the possible loss or range of loss, or states that a reasonable estimate cannot be made. Excludes environmental contingencies, warranties and unconditional purchase obligations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12021-110248 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12053-110248 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349 + Details
Name: | us-gaap_LossContingenciesTable
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unconditional purchase obligation not recognized as liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 + Details
Name: | us-gaap_UnrecordedUnconditionalPurchaseObligationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration