XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jul. 26, 2020
Jul. 28, 2019
Jul. 26, 2020
Jul. 28, 2019
Income Statement [Abstract]        
Net Sales $ 2,381,457 $ 2,290,705 $ 7,188,357 $ 6,995,804
Cost of Products Sold 1,959,032 1,857,263 5,820,158 5,604,879
Gross Profit 422,426 433,442 1,368,198 1,390,925
Selling, General and Administrative 181,085 180,169 570,518 543,789
Equity in Earnings of Affiliates 8,235 3,384 25,843 28,133
Operating Income 249,576 256,657 823,523 875,269
Other Income and Expense:        
Interest and Investment Income (Expense) 15,513 7,556 25,289 25,727
Interest Expense (5,724) (3,213) (12,798) (14,975)
Earnings Before Income Taxes 259,364 261,000 836,014 886,021
Provision for Income Taxes 56,103 61,573 162,186 162,439
Net Earnings 203,260 199,427 673,828 723,582
Less: Net Earnings (Loss) Attributable to Noncontrolling Interest 141 (22) 103 279
Net Earnings Attributable to Hormel Foods Corporation $ 203,119 $ 199,449 $ 673,726 $ 723,303
Net Earnings Per Share        
Basic (in dollars per share) $ 0.38 $ 0.37 $ 1.25 $ 1.35
Diluted (in dollars per share) $ 0.37 $ 0.37 $ 1.23 $ 1.33
Weighted-average Shares Outstanding        
Basic (in shares) 539,108 534,188 537,434 534,721
Diluted (in shares) 547,149 543,678 546,112 545,709