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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Oct. 27, 2019
Oct. 28, 2018
[1]
Oct. 29, 2017
[1]
Income Statement [Abstract]      
Net sales $ 9,497,317 $ 9,545,700 $ 9,167,519
Cost of Products Sold 7,612,669 7,566,227 7,170,883
Gross Profit 1,884,648 1,979,473 1,996,636
Selling, General and Administrative 727,584 841,205 759,304
Goodwill/Intangible Impairment 0 17,279 180
Equity in Earnings of Affiliates 39,201 58,972 39,590
Operating Income 1,196,265 1,179,961 1,276,742
Other Income and Expense:      
Interest and Investment Income 31,520 27,817 14,586
Interest Expense (18,070) (26,494) (12,683)
Earnings Before Income Taxes 1,209,715 1,181,284 1,278,645
Provision for Income Taxes 230,567 168,702 431,542
Net Earnings 979,148 1,012,582 847,103
Less: Net Earnings Attributable to Noncontrolling Interest 342 442 368
Net Earnings Attributable to Hormel Foods Corporation $ 978,806 $ 1,012,140 $ 846,735
Net Earnings Per Share:      
Basic (in dollars per share) $ 1.83 $ 1.91 $ 1.60
Diluted (in dollars per share) $ 1.80 $ 1.86 $ 1.57
Weighted-average Shares Outstanding:      
Basic (in shares) 534,578 530,742 528,363
Diluted (in shares) 545,232 543,869 539,116
[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 - Summary of Significant Accounting Policies.