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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Information

Summary of segments' sales, disaggregated by revenue source, significant segment expenses, operating income (loss), income (loss) from affiliates for certain segments, and capital expenditures



			Year ended December 31, 2024
																					All
																					Other			Inter-
												Liquid									and			Segment
(Millions of dollars)			Pork			CT&M			Marine			Fuels			Power			Turkey			Corporate			Elims			Total
External net sales:
Products		$	1,991		$	4,699		$	—		$	556		$	—					$	135		$	—		$	7,381
Transportation			16			—			1,388			—			—						3			—			1,407
Energy			—			—			—			—			239						7			—			246
Other			48			18			—			—			—						—			—			66
Total external net sales			2,055			4,717			1,388			556			239						145			—			9,100
Intersegment net sales ^(a)			38			—			5			—			—						—			(43)			—
Total segment/consolidated net sales		$	2,093		$	4,717		$	1,393		$	556		$	239					$	145		$	(43)		$	9,100
Less significant segment expenses:
Cost of sales			1,965			4,453			1,203			639			163						144			(43)			8,524
Selling, general and administrative expenses			108			132			108			17			15						40			—			420
Total segment/consolidated operating income (loss)		$	20		$	132		$	82		$	(100)		$	61					$	(39)		$	—		$	156
Income from affiliates			26			17			4			—			1			37			—			—			85
Total operating income (loss) and income from affiliates		$	46		$	149		$	86		$	(100)		$	62		$	37		$	(39)		$	—		$	241
Depreciation and amortization expense		$	148		$	25		$	60		$	44		$	22					$	12		$	—		$	311
Capital expenditures		$	299		$	11		$	172		$	2		$	9					$	18		$	—		$	511
Total assets as of December 31, 2024^(b)		$	2,111		$	1,615		$	992		$	630		$	306		$	375		$	1,636		$	—		$	7,665
Investment in affiliates as of December 31, 2024		$	154		$	164		$	40		$	—		$	3		$	375		$	2		$	—		$	738

(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.

(b)

Total assets for the Turkey segment primarily represent Seaboard’s investment in Butterball. All Other and Corporate’s total assets primarily represent short-term investments held by Corporate; these investments were $1 billion, $963 million, and $1 billion as of December 31, 2024, 2023 and 2022, respectively.



			Year ended December 31, 2023
																					All
																					Other			Inter-
												Liquid									and			Segment
(Millions of dollars)			Pork			CT&M			Marine			Fuels			Power			Turkey			Corporate			Elims			Total
External net sales:
Products		$	1,768		$	5,125		$	—		$	698		$	—					$	163		$	—		$	7,754
Transportation			13			—			1,499			—			—						3			—			1,515
Energy			—			—			—			—			237						5			—			242
Other			37			14			—			—			—						—			—			51
Total external net sales			1,818			5,139			1,499			698			237						171			—			9,562
Intersegment net sales ^(a)			45			—			4			—			—						—			(49)			—
Total segment/consolidated net sales		$	1,863		$	5,139		$	1,503		$	698		$	237					$	171		$	(49)		$	9,562
Less significant segment expenses:
Cost of sales			2,220			4,854			1,176			759			154						133			(50)			9,246
Selling, general and administrative expenses			98			140			99			12			12						42			—			403
Total segment/consolidated operating income (loss)		$	(455)		$	145		$	228		$	(73)		$	71					$	(4)		$	1		$	(87)
Income (loss) from affiliates			32			(18)			3			—			—			87			1			—			105
Total operating income (loss) and income (loss) from affiliates		$	(423)		$	127		$	231		$	(73)		$	71		$	87		$	(3)		$	1		$	18
Depreciation and amortization expense		$	122		$	24		$	64		$	42		$	21					$	10		$	—		$	283
Capital expenditures		$	361		$	7		$	121		$	—		$	3					$	14		$	—		$	506
Total assets as of December 31, 2023^(b)		$	2,075		$	1,590		$	847		$	646		$	337		$	371		$	1,700		$	—		$	7,566
Investment in affiliates as of December 31, 2023		$	154		$	164		$	38		$	—		$	3		$	370		$	2		$	—		$	731



			Year ended December 31, 2022
																					All
																					Other			Inter-
												Liquid									and			Segment
(Millions of dollars)			Pork			CT&M			Marine			Fuels			Power			Turkey			Corporate			Elims			Total
External net sales:
Products		$	1,958		$	6,275		$	—		$	607		$	—					$	139		$	—		$	8,979
Transportation			11			—			2,043			—			—						2			—			2,056
Energy			—			—			—			—			158						6			—			164
Other			29			15			—			—			—						—			—			44
Total external net sales			1,998			6,290			2,043			607			158						147			—			11,243
Intersegment net sales ^(a)			—			—			4			—			—						—			(4)			—
Total segment/consolidated net sales		$	1,998		$	6,290		$	2,047		$	607		$	158					$	147		$	(4)		$	11,243
Less significant segment expenses:
Cost of sales			1,970			6,009			1,354			634			135						116			(5)			10,213
Selling, general and administrative expenses			88			130			102			9			9						35			—			373
Total segment/consolidated operating income (loss)		$	(60)		$	151		$	591		$	(36)		$	14					$	(4)		$	1		$	657
Income from affiliates			24			21			4			—			—			103			—			—			152
Total operating income (loss) and income from affiliates		$	(36)		$	172		$	595		$	(36)		$	14		$	103		$	(4)		$	1		$	809
Depreciation and amortization expense		$	109		$	25		$	56		$	20		$	16					$	9		$	—		$	235
Capital expenditures		$	315		$	14		$	136		$	—		$	—					$	9		$	—		$	474
Total assets as of December 31, 2022^(b)		$	1,932		$	1,915		$	882		$	766		$	342		$	350		$	1,715		$	—		$	7,902
Investment in affiliates as of December 31, 2022		$	152		$	210		$	36		$	—		$	3		$	350		$	2		$	—		$	753

Geographic summary of net sales based on the location of product delivery



		Years ended December 31,
(Millions of dollars)		2024			2023			2022
Caribbean, Central and South America		$	3,899		$	4,197		$	5,054
Africa			2,422			2,586			3,107
United States ^(a)			2,108			2,102			2,181
Canada/Mexico			327			289			338
Pacific Basin and Far East			257			325			490
Europe			82			59			71
All other			5			4			2
Total sales		$	9,100		$	9,562		$	11,243

^(a) For Marine segment services on product delivery to the U.S., geographic location is based on origination port.

Geographic summary of the entity's property, plant and equipment according to their physical location and primary port for the vessels



		December 31,
(Millions of dollars)		2024			2023
United States		$	1,930		$	1,795
Dominican Republic			250			261
China ^(a)			136			117
Argentina			66			60
Ivory Coast			35			34
Senegal			32			32
Zambia			23			23
All other			88			88
Total property, plant and equipment, net		$	2,560		$	2,410

^(a) Represents vessels under construction for the Marine segment.