XML 195 R48.htm IDEA: XBRL DOCUMENT v3.23.1
DERIVATIVES AND HEDGING - Consolidated Condensed Statements of Operations Impact of Gains or Losses on Derivative Instruments (Details)
$ in Thousands, bu in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Apr. 30, 2023
USD ($)
May 01, 2022
USD ($)
bu
Apr. 30, 2023
USD ($)
bu
May 01, 2022
USD ($)
Oct. 30, 2022
bu
Derivative [Line Items]          
Net Earnings Attributable to Hormel Foods Corporation $ 217,239 $ 261,617 $ 434,958 $ 501,188  
Fair Value Hedges          
Total Gain (Loss) Recognized in Earnings (2,080) 1,288 1,468 5,598  
Derivatives designated as hedges | Commodity Contracts          
Fair Value Hedges          
Total Gain (Loss) Recognized in Earnings 798 342 7,223 3,613  
Derivatives designated as hedges | Interest Rate Contracts          
Fair Value Hedges          
Total Gain (Loss) Recognized in Earnings (2,878) 946 (5,755) 1,985  
Derivatives designated as hedges | Cash Flow Hedges | Commodity Contracts          
Cash Flow Hedges          
Gain (Loss) Reclassified from AOCL 732 9,599 11,591 17,345  
Amortization of Excluded Component from Options (1,497) (1,120) (2,909) (1,945)  
Gain (Loss) Reclassified from AOCL Due to Discontinuance of Cash Flow Hedges 0 1,620 0 1,620  
Derivatives designated as hedges | Cash Flow Hedges | Interest Rate Locks          
Cash Flow Hedges          
Gain (Loss) Reclassified from AOCL 247 $ 247 $ 494 494  
Derivatives designated as hedges | Cash Flow Hedges | Corn          
Fair Value Hedges          
Futures contracts, volume (in million bushels) | bu   0.6 27.5   34.3
Gain related to the discontinued hedges and an immaterial loss related to the excluded component from options   $ 1,700      
Derivatives designated as hedges | Fair Value Hedges | Commodity Contracts          
Fair Value Hedges          
Gain (loss) on Commodity Futures and Interest Rate Swap 1,563 (9,757) $ (1,459) (13,407)  
Derivatives designated as hedges | Fair Value Hedges | Interest Rate Swap          
Fair Value Hedges          
Gain (loss) on Commodity Futures and Interest Rate Swap 0 699 0 1,491  
Amortization of Loss Due to Discontinuance of Fair Value Hedge $ (3,125) $ 0 $ (6,250) $ 0