Segment Reporting (Tables)

6 Months Ended

Apr. 03, 2021

Segment Reporting [Abstract]

Segment Reporting Information, By Segment

Information on segments and a reconciliation to income before income taxes are as follows (in millions): 

	Three Months Ended				Six Months Ended
	April 3, 2021		March 28, 2020		April 3, 2021		March 28, 2020
Sales:
Beef	$	4,046	$	3,979	$	8,033	$	7,817
Pork	1,477		1,266		2,916		2,645
Chicken	3,553		3,397		6,384		6,689
Prepared Foods	2,164		2,080		4,277		4,220
International/Other	487		465		956		963
Intersegment	(427)		(299)		(806)		(631)
Total sales	$	11,300	$	10,888	$	21,760	$	21,703

	Three Months Ended				Six Months Ended
	April 3, 2021		March 28, 2020		April 3, 2021		March 28, 2020
Operating income (loss):
Beef(a)	$	445	$	123	$	973	$	465
Pork	67		93		183		284
Chicken(b)	6		99		(210)		156
Prepared Foods	217		191		483		349
International/Other(c)	(15)		9		(4)		19
Total operating income	720		515		1,425		1,273
Total other expense	96		10		185		111
Income before income taxes	$	624	$	505	$	1,240	$	1,162

(a) Beef segment results for the six months ended April 3, 2021 included a $55 million gain from the recovery of cattle inventory from a cattle supplier that misappropriated Company funds as compared to results for the three and six months ended March 28, 2020, which included a $14 million gain and $54 million loss, respectively, as further described in Note 1: Accounting Policies.

(b) Chicken segment results for the six months ended April 3, 2021 included a $320 million charge related to the recognition of a legal contingency accrual. The accrual was recorded as a reduction to Sales pursuant to FASB guidance related to accounting for revenue from contracts with customers.

(c) International/Other results for the three and six months ended April 3, 2021 included a $19 million loss related to the relocation of a production facility in China.

Disaggregation of Revenue, By Segment and Distribution Channel

The following tables further disaggregate our sales to customers by major distribution channels (in millions):

	Three months ended April 3, 2021
	Retail(a)		Foodservice(b)		International(c)		Industrial and Other(d)		Intersegment		Total
Beef	$	2,036	$	945	$	593	$	368	$	104	$	4,046
Pork	410		101		296		361		309		1,477
Chicken	1,576		1,356		166		441		14		3,553
Prepared Foods	1,306		787		30		41		—		2,164
International/Other	—		—		487		—		—		487
Intersegment	—		—		—		—		(427)		(427)
Total	$	5,328	$	3,189	$	1,572	$	1,211	$	—	$	11,300

	Three months ended March 28, 2020
	Retail(a)		Foodservice(b)		International(c)		Industrial and Other(d)		Intersegment		Total
Beef	$	1,907	$	1,004	$	605	$	362	$	101	$	3,979
Pork	383		99		274		325		185		1,266
Chicken	1,550		1,239		167		428		13		3,397
Prepared Foods	1,225		778		34		43		—		2,080
International/Other	—		—		465		—		—		465
Intersegment	—		—		—		—		(299)		(299)
Total	$	5,065	$	3,120	$	1,545	$	1,158	$	—	$	10,888

	Six months ended April 3, 2021
	Retail(a)		Foodservice(b)		International(c)		Industrial and Other(d)		Intersegment		Total
Beef	$	4,170	$	1,766	$	1,211	$	691	$	195	$	8,033
Pork	842		193		589		703		589		2,916
Chicken	3,012		2,541		318		491		22		6,384
Prepared Foods	2,609		1,527		61		80		—		4,277
International/Other	—		—		956		—		—		956
Intersegment	—		—		—		—		(806)		(806)
Total	$	10,633	$	6,027	$	3,135	$	1,965	$	—	$	21,760

	Six months ended March 28, 2020
	Retail(a)		Foodservice(b)		International(c)		Industrial and Other(d)		Intersegment		Total
Beef	$	3,764	$	2,049	$	1,119	$	688	$	197	$	7,817
Pork	783		216		554		685		407		2,645
Chicken	2,939		2,546		328		849		27		6,689
Prepared Foods	2,436		1,624		71		89		—		4,220
International/Other	—		—		963		—		—		963
Intersegment	—		—		—		—		(631)		(631)
Total	$	9,922	$	6,435	$	3,035	$	2,311	$	—	$	21,703

(a) Includes sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.

(b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.

(c) Includes sales to international markets for internationally produced products or export sales of domestically produced products.

(d) Includes sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories. For the six months ended April 3, 2021, the Chicken segment included a $320 million reduction in Other due to the recognition of a legal contingency accrual.