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Segment Information (Tables) | 6 Months Ended
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Jun. 29, 2024
Segment Information |
Schedule of sales disaggregated by revenue source and segment | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Sales: | ​ | ​ | Three Months Ended June 29, 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | Liquid | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | Intersegment | ​ | ​ | Consolidated | ​
(Millions of dollars) | ​ | ​ | Pork | ​ | ​ | Fuels | ​ | ​ | CT&M | ​ | ​ | Marine | ​ | ​ | Power | ​ | ​ | Other | ​ | ​ | Eliminations | ​ | ​ | Totals | ​
External customer net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Products | ​ | $ | 522 | ​ | $ | 118 | ​ | $ | 1,127 | ​ | $ | — | ​ | $ | — | ​ | $ | 35 | ​ | $ | — | ​ | $ | 1,802 | ​
Transportation | ​ | ​ | 4 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 325 | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | 330 | ​
Energy | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 59 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 59 | ​
Other | ​ | ​ | 14 | ​ | ​ | — | ​ | ​ | 4 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 18 | ​
Total external customer net sales | ​ | ​ | 540 | ​ | ​ | 118 | ​ | ​ | 1,131 | ​ | ​ | 325 | ​ | ​ | 59 | ​ | ​ | 36 | ​ | ​ | — | ​ | ​ | 2,209 | ​
Intersegment net sales (a) | ​ | ​ | 10 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (11) | ​ | ​ | — | ​
Segment/consolidated totals | ​ | $ | 550 | ​ | $ | 118 | ​ | $ | 1,131 | ​ | $ | 326 | ​ | $ | 59 | ​ | $ | 36 | ​ | $ | (11) | ​ | $ | 2,209 | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Sales: | ​ | ​ | Three Months Ended July 1, 2023 | ​
​ | ​ | ​ | ​ | ​ | ​ | Liquid | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | Intersegment | ​ | ​ | Consolidated | ​
(Millions of dollars) | ​ | ​ | Pork | ​ | ​ | Fuels | ​ | ​ | CT&M | ​ | ​ | Marine | ​ | ​ | Power | ​ | ​ | Other | ​ | ​ | Eliminations | ​ | ​ | Totals | ​
External customer net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Products | ​ | $ | 435 | ​ | $ | 148 | ​ | $ | 1,332 | ​ | $ | — | ​ | $ | — | ​ | $ | 42 | ​ | $ | — | ​ | $ | 1,957 | ​
Transportation | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 356 | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 361 | ​
Energy | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 63 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 63 | ​
Other | ​ | ​ | 9 | ​ | ​ | — | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 12 | ​
Total external customer net sales | ​ | ​ | 447 | ​ | ​ | 148 | ​ | ​ | 1,335 | ​ | ​ | 356 | ​ | ​ | 63 | ​ | ​ | 44 | ​ | ​ | — | ​ | ​ | 2,393 | ​
Intersegment net sales (a) | ​ | ​ | 11 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (12) | ​ | ​ | — | ​
Segment/consolidated totals | ​ | $ | 458 | ​ | $ | 148 | ​ | $ | 1,335 | ​ | $ | 357 | ​ | $ | 63 | ​ | $ | 44 | ​ | $ | (12) | ​ | $ | 2,393 | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Sales: | ​ | ​ | Six Months Ended June 29, 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | Liquid | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | Intersegment | ​ | ​ | Consolidated | ​
(Millions of dollars) | ​ | ​ | Pork | ​ | ​ | Fuels | ​ | ​ | CT&M | ​ | ​ | Marine | ​ | ​ | Power | ​ | ​ | Other | ​ | ​ | Eliminations | ​ | ​ | Totals | ​
External customer net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Products | ​ | $ | 1,009 | ​ | $ | 205 | ​ | $ | 2,312 | ​ | $ | — | ​ | $ | — | ​ | $ | 68 | ​ | $ | — | ​ | $ | 3,594 | ​
Transportation | ​ | ​ | 7 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 657 | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 666 | ​
Energy | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 107 | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | 108 | ​
Other | ​ | ​ | 23 | ​ | ​ | — | ​ | ​ | 9 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 32 | ​
Total external customer net sales | ​ | ​ | 1,039 | ​ | ​ | 205 | ​ | ​ | 2,321 | ​ | ​ | 657 | ​ | ​ | 107 | ​ | ​ | 71 | ​ | ​ | — | ​ | ​ | 4,400 | ​
Intersegment net sales (a) | ​ | ​ | 19 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (21) | ​ | ​ | — | ​
Segment/consolidated totals | ​ | $ | 1,058 | ​ | $ | 205 | ​ | $ | 2,321 | ​ | $ | 659 | ​ | $ | 107 | ​ | $ | 71 | ​ | $ | (21) | ​ | $ | 4,400 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Sales: | ​ | ​ | Six Months Ended July 1, 2023
​ | ​ | ​ | ​ | ​ | ​ | Liquid | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | All | ​ | ​ | Intersegment | ​ | ​ | Consolidated | ​
(Millions of dollars) | ​ | ​ | Pork | ​ | ​ | Fuels | ​ | ​ | CT&M | ​ | ​ | Marine | ​ | ​ | Power | ​ | ​ | Other | ​ | ​ | Eliminations | ​ | ​ | Totals | ​
External customer net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Products | ​ | $ | 863 | ​ | $ | 322 | ​ | $ | 2,673 | ​ | $ | — | ​ | $ | — | ​ | $ | 83 | ​ | $ | — | ​ | $ | 3,941 | ​
Transportation | ​ | ​ | 6 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 804 | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 812 | ​
Energy | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 115 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 115 | ​
Other | ​ | ​ | 18 | ​ | ​ | — | ​ | ​ | 6 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 24 | ​
Total external customer net sales | ​ | ​ | 887 | ​ | ​ | 322 | ​ | ​ | 2,679 | ​ | ​ | 804 | ​ | ​ | 115 | ​ | ​ | 85 | ​ | ​ | — | ​ | ​ | 4,892 | ​
Intersegment net sales (a) | ​ | ​ | 23 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (25) | ​ | ​ | — | ​
Segment/consolidated totals | ​ | $ | 910 | ​ | $ | 322 | ​ | $ | 2,679 | ​ | $ | 806 | ​ | $ | 115 | ​ | $ | 85 | ​ | $ | (25) | ​ | $ | 4,892 | ​
(a) | The Pork segment’s intersegment sales primarily represent the sale of pork fat to the Liquid Fuels segment, which uses it as a feedstock in the renewable diesel and biodiesel production processes. The Marine segment’s intersegment sales primarily represent shipping services provided to the jalapeño pepper processing business. Intercompany transactions are eliminated in consolidation.
Summary of specific financial information related to operating income (loss) | ​
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Operating Income (Loss): | ​ | Three Months Ended | ​ | Six Months Ended |
​ | ​ | June 29, | ​ | July 1, | ​ | June 29, | ​ | July 1, | ​
(Millions of dollars) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Pork | ​ | $ | (4) | ​ | $ | (105) | ​ | $ | (3) | ​ | $ | (285) | ​
Liquid Fuels | ​ | ​ | (27) | ​ | ​ | 1 | ​ | ​ | (76) | ​ | ​ | (31) | ​
CT&M | ​ |  | 34 | ​ |  | 17 | ​ |  | 52 | ​ | ​ | 60 | ​
Marine | ​ |  | 18 | ​ |  | 60 | ​ |  | 33 | ​ | ​ | 156 | ​
Power | ​ |  | 18 | ​ |  | 22 | ​ |  | 25 | ​ |  | 32 | ​
All Other | ​ |  | (4) | ​ |  | 4 | ​ |  | (9) | ​ |  | 10 | ​
Segment Totals | ​ |  | 35 | ​ |  | (1) | ​ |  | 22 | ​ |  | (58) | ​
Corporate | ​ |  | (5) | ​ |  | (3) | ​ |  | (12) | ​ |  | (9) | ​
Consolidated Totals | ​ | $ | 30 | ​ | $ | (4) | ​ | $ | 10 | ​ | $ | (67) | ​
Summary of specific financial information related to income (loss) from affiliates | ​
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Income (Loss) from Affiliates: | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 29, | ​ | July 1, | ​ | June 29, | ​ | July 1, |
(Millions of dollars) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Pork | ​ | $ | 6 | ​ | $ | 9 | ​ | $ | 15 | ​ | $ | 19 | ​
CT&M | ​ | ​ | 8 | ​ | ​ | (2) | ​ | ​ | 10 | ​ | ​ | (10) | ​
Marine | ​ | ​ | 1 | ​ | ​ | 2 | ​ | ​ | 2 | ​ | ​ | 1 | ​
Power | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Turkey | ​ |  | 8 | ​ |  | 16 | ​ |  | 15 | ​ |  | 41 | ​
Segment/Consolidated Totals | ​ | $ | 23 | ​ | $ | 25 | ​ | $ | 42 | ​ | $ | 51 | ​
Summary of specific financial information related to total assets | ​
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Total Assets: | ​ | June 29, | ​ | December 31, |
(Millions of dollars) |  | 2024 |  | 2023 |
Pork | ​ | $ | 2,133 | ​ | $ | 2,075 | ​
Liquid Fuels | ​ | ​ | 617 | ​ | ​ | 646 | ​
CT&M | ​ |  | 1,640 | ​ |  | 1,590 | ​
Marine | ​ |  | 844 | ​ |  | 847 | ​
Power | ​ |  | 319 | ​ |  | 337 | ​
Turkey | ​ |  | 356 | ​ |  | 360 | ​
All Other | ​ |  | 174 | ​ |  | 183 | ​
Segment Totals | ​ |  | 6,083 | ​ |  | 6,038 | ​
Corporate | ​ |  | 1,615 | ​ |  | 1,528 | ​
Consolidated Totals | ​ | $ | 7,698 | ​ | $ | 7,566 | ​
Summary of specific financial information related to investments in and advances to affiliates | ​
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Investments in and Advances to Affiliates: | ​ | June 29, | ​ | December 31, |
(Millions of dollars) |  | 2024 |  | 2023 |
Pork | ​ | $ | 161 | ​ | $ | 154 | ​
CT&M | ​ | ​ | 160 | ​ | ​ | 164 | ​
Marine | ​ | ​ | 39 | ​ | ​ | 38 | ​
Power | ​ | ​ | 3 | ​ | ​ | 3 | ​
Turkey | ​ | ​ | 356 | ​ | ​ | 370 | ​
All Other | ​ |  | 2 | ​ |  | 2 | ​
Segment/Consolidated Totals | ​ | $ | 721 | ​ | $ | 731 | ​
Butterball, LLC |
Segment Information |
Summary of specific financial information related to equity method investment | ​
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​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 29, | ​ | July 1, | ​ | June 29, | ​ | July 1, | ​
(Millions of dollars) | ​ | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
Net sales | ​ | $ | 407 | ​ | $ | 458 | ​ | $ | 777 | ​ | $ | 866 | ​
Operating income | ​ | $ | 18 | ​ | $ | 36 | ​ | $ | 34 | ​ | $ | 86 | ​
Net earnings | ​ | $ | 14 | ​ | $ | 31 | ​ | $ | 29 | ​ | $ | 79 | ​
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