INVESTMENTS IN AFFILIATES

9 Months Ended

Jul. 27, 2025

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENTS IN AFFILIATES

NOTE D - INVESTMENTS IN AFFILIATES

Equity in Earnings of Affiliates consists of:

		Quarter Ended				Nine Months Ended
In thousands	% Owned	July 27, 2025		July 28, 2024		July 27, 2025		July 28, 2024
MegaMex Foods, LLC(1)	50%	$	5,755	$	3,066	$	23,531	$	19,444
Other Equity Method Investments(2)	Various (25-45%)	5,398		4,912		19,083		19,806
Total Equity in Earnings of Affiliates		$	11,153	$	7,977	$	42,614	$	39,250

(1)    MegaMex Foods, LLC is reflected in the Retail segment.

(2)    Other Equity Method Investments are primarily reflected in the International segment but also include corporate venturing investments.

Distributions received from equity method investees consists of:

	Quarter Ended				Nine Months Ended
In thousands	July 27, 2025		July 28, 2024		July 27, 2025		July 28, 2024
Dividends	$	12,703	$	7,266	$	38,847	$	32,997

The Company recognized basis differences of $324.8 million upon the purchase of a minority interest in PT Garudafood Putra Putri Jaya Tbk (Garudafood) and $21.3 million associated with the formation of MegaMex Foods, LLC. As of July 27, 2025, basis differences of $303.7 million, which includes the impact of foreign currency translation, and $7.8 million were remaining for Garudafood and MegaMex Foods, LLC, respectively. The basis differences associated with definite-lived assets are being amortized through Equity in Earnings of Affiliates over the associated useful lives. Based on quoted market prices, the fair value of the common stock held in Garudafood was $248.9 million as of July 25, 2025.