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Segment Reporting
 12 Months Ended
Oct. 26, 2025
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting

Segment Results: 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.

The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in retail channels, including grocery stores, mass merchandisers, club stores, natural food chains, drug, dollar and discount chains, and e-commerce providers in the U.S. This segment also includes the results from the Company’s MegaMex Foods joint venture.

The Foodservice segment consists primarily of the processing, marketing, and sale of food products to distributors and operators across a wide range of providers of food away from home, including restaurants, hospitality, healthcare, K-12, college and universities, and convenience stores in the U.S.

The International segment processes, markets, and sells the Company's products through retail and foodservice channels internationally. This segment also includes the results from the Company’s international joint ventures, equity method investments, and royalty arrangements, as well as operations in China and Brazil.

The results of each segment are regularly provided to the Company's Interim Chief Executive Officer, who is the chief operating decision maker (CODM). The CODM primarily uses net sales and segment profit to compare results to the prior year, annual operating plan, and periodic forecasts when evaluating segment performance and allocating resources.

The accounting policies of the segments are generally the same as those presented in Note A - Summary of Significant Accounting Policies. Intersegment sales are eliminated in consolidation and are not reviewed when evaluating segment performance. Segment profit also excludes unallocated general corporate expenses, deferred compensation, non-recurring expenses associated with the Transform and Modernize initiative, corporate restructuring plan costs, and interest and other income and expense. 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.

Segment results, including the significant expense categories regularly provided to the CODM, are provided below. Certain portions of these expenses are retained at the corporate level and are presented in Net Unallocated Expense. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. The Company does not represent that these segments, if operated independently, would report the profit and other financial information shown.
 
Fiscal Year Ended October 26, 2025
In thousandsRetailFoodserviceInternationalTotal
Net Sales$7,455,218 $3,941,795 $709,146 
Cost of Products Sold6,450,868 3,201,478 558,106 
Selling, General, and Administrative539,390 185,743 95,075 
Equity in Earnings of Affiliates31,035 — (136,817)
Goodwill and Intangible Impairment70,751 — — 
Noncontrolling Interest (Earnings) Loss
— — 433 
Segment Profit$425,245 $554,574 $(80,418)$899,400 
Net Unallocated Expense235,519 
Noncontrolling Interest Earnings (Loss)
(433)
Earnings Before Income Taxes$663,449 

 
Fiscal Year Ended October 27, 2024
In thousandsRetailFoodserviceInternationalTotal
Net Sales$7,374,149 $3,845,118 $701,529 
Cost of Products Sold6,296,201 3,056,139 536,028 
Selling, General, and Administrative539,965 192,687 100,512 
Equity in Earnings of Affiliates24,784 — 26,688 
Noncontrolling Interest (Earnings) Loss
— — 407 
Segment Profit$562,768 $596,292 $92,084 $1,251,144 
Net Unallocated Expense215,304 
Noncontrolling Interest Earnings (Loss)
(407)
Earnings Before Income Taxes$1,035,434 

 
Fiscal Year Ended October 29, 2023
In thousandsRetailFoodserviceInternationalTotal
Net Sales$7,749,039 $3,639,492 $721,479 
Cost of Products Sold6,659,851 2,869,529 578,309 
Selling, General, and Administrative523,616 174,282 98,592 
Equity in Earnings of Affiliates40,501 — 10,004 
Goodwill and Intangible Impairment28,383 — — 
Noncontrolling Interest (Earnings) Loss
— — 653 
Segment Profit$577,690 $595,682 $55,234 $1,228,606 
Net Unallocated Expense214,482 
Noncontrolling Interest Earnings (Loss)
(653)
Earnings Before Income Taxes$1,013,472 

The Company’s CODM reviews assets and capital expenditures at a consolidated level and does not use assets by segment to evaluate performance or allocate resources. Therefore, the Company does not disclose these measures by segment. Depreciation and amortization expense is included in the measure of segment profit and disclosed below.
In thousandsFiscal Year Ended
October 26, 2025October 27, 2024October 29, 2023
Depreciation and Amortization
Retail
$142,824 $140,103 $145,690 
Foodservice
80,193 78,949 74,370 
International
17,174 19,151 15,627 
Corporate23,710 19,553 17,623 
Total Depreciation and Amortization
$263,901 $257,756 $253,311 

Disaggregated Revenues: The Company’s products primarily consist of meat and other food products. Total revenue contributed by classes of similar products are:
Fiscal Year Ended
In thousandsOctober 26, 2025October 27, 2024October 29, 2023
Perishable$8,823,022 $8,548,802 $8,511,795 
Shelf-stable3,283,138 3,371,995 3,598,215 
Total Net Sales
$12,106,160 $11,920,797 $12,110,010 
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, and other items that do not require refrigeration.

The Company has a global presence selling its products in all 50 U.S. states as well as several major international markets. No individual foreign country is material to the consolidated results. Additionally, the Company’s long-lived assets located in foreign countries are not significant. Total net sales attributed to the U.S. and all foreign countries in total are:
Fiscal Year Ended
In thousandsOctober 26, 2025October 27, 2024October 29, 2023
U.S.$11,437,051 $11,283,978 $11,515,094 
Foreign669,109 636,819 594,915 
Total Net Sales
$12,106,160 $11,920,797 $12,110,010 

Major Customers: Sales to Walmart Inc. and its subsidiaries (Walmart) represented 15.6% or $2.0 billion, 15.6% or $2.0 billion, and 15.5% or $2.0 billion of the Company’s consolidated gross sales less returns and allowances in fiscal 2025, 2024, and 2023, respectively. Walmart is a customer for the Company’s Retail and International segments.