XML 65 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Oct. 30, 2011
Oct. 31, 2010
Oct. 25, 2009
Net sales $ 7,895,089 $ 7,220,719 $ 6,533,671
Cost of products sold 6,560,976 5,981,977 5,434,800
Gross Profit 1,334,113 1,238,742 1,098,871
Selling, general and administrative 618,586 605,293 567,085
Equity in earnings of affiliates 26,757 13,126 4,793
Operating Income 742,284 646,575 536,579
Other income and expense:      
Interest and investment (loss) income (786) 4,565 19,563
Interest expense (22,662) (26,589) (27,995)
Earnings Before Income Taxes 718,836 624,551 528,147
Provision for income taxes 239,640 224,775 182,169
Net Earnings 479,196 399,776 345,978
Less: Net earnings attributable to noncontrolling interest 5,001 4,189 3,165
Net Earnings Attributable to Hormel Foods Corporation $ 474,195 $ 395,587 $ 342,813
Net Earnings Per Share:      
Basic (in dollars per share) $ 1.78 $ 1.48 [1] $ 1.28 [1]
Diluted (in dollars per share) $ 1.74 $ 1.46 [1] $ 1.27 [1]
Weighted-Average Shares Outstanding:      
Basic (in shares) 266,394 266,732 [1] 268,454 [1]
Diluted (in shares) 271,915 270,698 [1] 270,979 [1]
[1] Shares and per share figures have been restated, as appropriate, to reflect the two-for-one stock split effected February 1, 2011.