XML 27 R14.htm IDEA: XBRL DOCUMENT v3.25.2
Stockholders' Equity and Accumulated Other Comprehensive Loss
 6 Months Ended
Jun. 28, 2025
Stockholders' Equity and Accumulated Other Comprehensive Loss  
Stockholders' Equity and Accumulated Other Comprehensive Loss

Note 6 – Stockholders’ Equity and Accumulated Other Comprehensive Loss

On May 21, 2025, Seaboard’s Board of Directors approved a share repurchase program authorizing the repurchase of up to $100 million of its outstanding shares of common stock (“Shares”) through December 31, 2027, unless extended or earlier terminated. Under the share repurchase program, Seaboard is authorized to repurchase Shares from time-to-time in the open-market, through block trades, in privately negotiated purchases, pursuant to a trading plan, or by other means, in accordance with federal securities laws and other applicable laws. The timing and volume of share repurchases will be determined by management at its discretion and will depend on a number of factors, including constraints specified in any applicable trading plans, the market price of the Shares, general business and market conditions, alternative investment opportunities, Seaboard’s financial condition and applicable legal requirements. The share repurchase program does not obligate Seaboard to acquire a minimum amount of Shares and the program may be modified, suspended or terminated at any time at Seaboard’s discretion.  

During the second quarter of 2025, Seaboard repurchased 8,579 Shares, and retained earnings decreased $24 million as a result of the purchases and related U.S. excise taxes. Shares repurchased were retired and became authorized and unissued shares. As of June 28, 2025, $76 million remained available for repurchase under this program.

The components of accumulated other comprehensive loss (“AOCL”), net of related taxes, were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cumulative

​

​

​

​

​

​

​

​

Foreign

​

Cumulative

​

​

​

​

​

​

Currency

​

Unrecognized

​

​

​

​

​

​

Translation

​

Pension

​

​

​

​

(Millions of dollars)

​

Adjustment

​

Benefit (Cost)

​

Total

​

Balance December 31, 2023

​

$

(404)

​

$

(6)

​

$

(410)

​

Other comprehensive loss before reclassifications

​

 

(2)

​

 

—

​

 

(2)

​

Amounts reclassified from AOCL to net earnings

​

 

—

​

 

2

(a)  

 

2

​

Other comprehensive income (loss), net of tax

​

 

(2)

​

 

2

​

 

—

​

Balance March 30, 2024

​

$

(406)

​

$

(4)

​

$

(410)

​

Other comprehensive income before reclassifications

​

 

—

​

 

—

​

 

—

​

Amounts reclassified from AOCL to net earnings

​

 

—

​

 

—

​

 

—

​

Other comprehensive income, net of tax

​

 

—

​

 

—

​

 

—

​

Balance June 29, 2024

​

$

(406)

​

$

(4)

​

$

(410)

​

​

​

​

​

​

​

​

​

​

​

​

Balance December 31, 2024

​

$

(400)

​

$

24

​

$

(376)

​

Other comprehensive loss before reclassifications

​

 

(15)

​

 

—

​

 

(15)

​

Amounts reclassified from AOCL to net earnings

​

 

—

​

 

1

(a)  

 

1

​

Other comprehensive income (loss), net of tax

​

 

(15)

​

 

1

​

 

(14)

​

Balance March 29, 2025

​

$

(415)

​

$

25

​

$

(390)

​

Other comprehensive income before reclassifications

​

 

15

​

 

—

​

 

15

​

Amounts reclassified from AOCL to net earnings

​

 

—

​

 

(1)

(a)  

 

(1)

​

Other comprehensive income (loss), net of tax

​

 

15

​

 

(1)

​

 

14

​

Balance June 28, 2025

​

$

(400)

​

$

24

​

$

(376)

​

(a)This reclassification adjustment primarily represents the amortization of actuarial losses (gains) that were included in net periodic pension cost.