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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jul. 28, 2019
Jul. 29, 2018
[1]
Jul. 28, 2019
Jul. 29, 2018
[1]
Income Statement [Abstract]        
Net Sales $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003
Cost of Products Sold 1,857,263 1,904,096 5,604,879 5,574,858
Gross Profit 433,442 455,046 1,390,925 1,446,145
Selling, General and Administrative 180,169 211,497 543,789 635,918
Equity in Earnings of Affiliates 3,384 13,141 28,133 50,158
Operating Income 256,657 256,690 875,269 860,385
Other Income and Expense:        
Interest and Investment Income 7,556 9,477 25,727 19,560
Interest Expense (3,213) (8,435) (14,975) (20,165)
Earnings Before Income Taxes 261,000 257,732 886,021 859,780
Provision for Income Taxes 61,573 47,379 162,439 108,694
Net Earnings 199,427 210,353 723,582 751,086
Less: Net Earnings (Loss) Attributable to Noncontrolling Interest (22) 110 279 352
Net Earnings Attributable to Hormel Foods Corporation $ 199,449 $ 210,243 $ 723,303 $ 750,734
Net Earnings Per Share        
Basic (in dollars per share) $ 0.37 $ 0.40 $ 1.35 $ 1.42
Diluted (in dollars per share) $ 0.37 $ 0.39 $ 1.33 $ 1.38
Weighted-average Shares Outstanding        
Basic (in shares) 534,188 530,606 534,721 529,953
Diluted (in shares) 543,678 543,762 545,709 543,352
[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.