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Inventories | 6 Months Ended
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Jul. 01, 2023
Inventories |
Inventories | Note 3 – Inventories The following is a summary of inventories: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | July 1, | ​ | December 31, |
(Millions of dollars) |  | 2023 |  | 2022 | ​
At lower of FIFO cost and net realizable value (“NRV”): | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hogs and materials | ​ | $ | 504 | ​ | $ | 538 | ​
Pork products and materials | ​ |  | 74 | ​ |  | 75 | ​
Grains, oilseeds and other commodities | ​ |  | 488 | ​ |  | 475 | ​
Biofuels and related credits | ​ | ​ | 227 | ​ | ​ | 221 | ​
Other | ​ |  | 102 | ​ |  | 104 | ​
Total inventories at lower of FIFO cost and NRV | ​ |  | 1,395 | ​ |  | 1,413 | ​
Grain, flour and feed at lower of weighted average cost and NRV | ​ |  | 215 | ​ |  | 257 | ​
Total inventories | ​ | $ | 1,610 | ​ | $ | 1,670 | ​
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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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