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SEGMENT REPORTING
 6 Months Ended
Apr. 28, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING
NOTE M - SEGMENT REPORTING

The Company develops, processes, and distributes a wide array of food products in a variety of markets. The Company reports its results in the following three segments: Retail, Foodservice, and International, which is consistent with how the Company’s chief operating decision maker (CODM) assesses performance and allocates resources.

The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in the retail market. This segment also includes the results from the Company’s MegaMex Foods, LLC joint venture.

The Foodservice segment consists primarily of the processing, marketing, and sale of food and nutritional products for foodservice, convenience store, and commercial customers.

The International segment processes, markets, and sells Company products internationally. This segment also includes the results from the Company’s international joint ventures, equity method investments, and royalty arrangements.

Financial measures for each of the Company’s reportable segments are set forth below. Intersegment sales are eliminated in consolidation and are not reviewed when evaluating segment performance. The Company does not allocate deferred compensation, non-recurring expenses associated with the transform and modernize initiative, investment income, interest expense, or interest income to its segments when measuring performance. The Company also retains various other income and expenses at the corporate level. Equity in Earnings of Affiliates is included in segment profit; however, earnings attributable to the Company’s corporate venturing investments and noncontrolling interests are excluded. These items are included below as Net Unallocated Expense and Noncontrolling Interest when reconciling to Earnings Before Income Taxes.

The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. Therefore, the Company does not represent that these segments, if operated independently, would report the profit and other financial information shown below.
 Quarter EndedSix Months Ended
In thousands
April 28, 2024April 30, 2023April 28, 2024April 30, 2023
Net Sales  
Retail$1,788,556 $1,916,243 $3,699,827 $3,874,040 
Foodservice932,003 881,441 1,845,090 1,716,191 
International166,794 179,955 339,346 358,400 
Total Net Sales$2,887,352 $2,977,639 $5,884,263 $5,948,632 
Segment Profit
Retail$132,399 $153,226 $281,904 $307,903 
Foodservice149,302 145,399 299,466 281,841 
International23,202 13,595 43,234 33,500 
Total Segment Profit304,903 312,220 624,603 623,244 
Net Unallocated Expense60,694 33,356 94,714 63,111 
Noncontrolling Interest(70)(24)(204)(92)
Earnings Before Income Taxes$244,139 $278,839 $529,685 $560,041 

The Company’s products primarily consist of meat and other food products. Total revenue contributed by classes of similar products are: 
Quarter EndedSix Months Ended
In thousands
April 28, 2024April 30, 2023April 28, 2024April 30, 2023
Perishable$2,029,418 $2,073,238 $4,135,989 $4,153,699 
Shelf-stable857,934 904,401 1,748,274 1,794,933 
Total Net Sales$2,887,352 $2,977,639 $5,884,263 $5,948,632 
Perishable includes fresh meats, frozen items, refrigerated meal solutions, bacon, sausages, hams, guacamole, and other items that require refrigeration. Shelf-stable includes canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and other items that do not require refrigeration.