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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Oct. 25, 2020
Oct. 27, 2019
Oct. 28, 2018
[1]
Income Statement [Abstract]      
Net Sales $ 9,608,462 $ 9,497,317 $ 9,545,700
Cost of Products Sold 7,782,498 7,612,669 7,566,227
Gross Profit 1,825,963 1,884,648 1,979,473
Selling, General, and Administrative 761,315 727,584 841,205
Goodwill/Intangible Impairment 0 0 17,279
Equity in Earnings of Affiliates 35,572 39,201 58,972
Operating Income 1,100,220 1,196,265 1,179,961
Other Income and Expense:      
Interest and Investment Income 35,596 31,520 27,817
Interest Expense (21,069) (18,070) (26,494)
Earnings Before Income Taxes 1,114,747 1,209,715 1,181,284
Provision for Income Taxes 206,393 230,567 168,702
Net Earnings 908,354 979,148 1,012,582
Less: Net Earnings Attributable to Noncontrolling Interest 272 342 442
Net Earnings Attributable to Hormel Foods Corporation $ 908,082 $ 978,806 $ 1,012,140
Net Earnings Per Share:      
Basic (in dollars per share) $ 1.69 $ 1.83 $ 1.91
Diluted (in dollars per share) $ 1.66 $ 1.80 $ 1.86
Weighted-average Shares Outstanding:      
Basic (in shares) 538,007 534,578 530,742
Diluted (in shares) 546,592 545,232 543,869
[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.