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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Apr. 28, 2019
Apr. 29, 2018
[1]
Apr. 28, 2019
Apr. 29, 2018
Income Statement [Abstract]        
Net Sales $ 2,344,744 $ 2,330,568 $ 4,705,099 $ 4,661,861
Cost of Products Sold 1,875,595 1,837,765 3,747,616 3,670,762
Gross Profit 469,149 492,803 957,483 991,099
Selling, General and Administrative 170,076 204,549 363,620 424,421
Equity in Earnings of Affiliates 13,291 13,486 24,749 37,017
Operating Income 312,364 301,740 618,612 603,695
Other Income and Expense:        
Interest and Investment Income 11,297 2,144 18,171 10,083
Interest Expense (5,615) (7,001) (11,762) (11,730)
Earnings Before Income Taxes 318,046 296,883 625,021 602,048
Provision for Income Taxes 35,410 59,361 100,866 61,315
Net Earnings 282,636 237,522 524,155 540,733
Less: Net Earnings Attributable to Noncontrolling Interest 207 138 301 242
Net Earnings Attributable to Hormel Foods Corporation $ 282,429 $ 237,384 $ 523,854 $ 540,491
Net Earnings Per Share        
BASIC (in dollars per share) $ 0.53 $ 0.45 $ 0.98 $ 1.02
DILUTED (in dollars per share) $ 0.52 $ 0.44 $ 0.96 $ 1.00
Weighted-average Shares Outstanding        
BASIC (in shares) 535,480 529,799 534,988 529,626
DILUTED (in shares) 546,330 542,811 546,724 543,146
[1] Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715). See Note A - General.