XML 14 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Jul. 28, 2013
Jul. 29, 2012
Jul. 28, 2013
Jul. 29, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 2,159,525 $ 2,008,188 $ 6,428,452 $ 6,060,486
Cost of products sold 1,829,219 1,701,132 5,401,152 5,080,414
GROSS PROFIT 330,306 307,056 1,027,300 980,072
Selling, general and administrative 150,999 145,022 479,896 446,183
Equity in earnings of affiliates 1,346 9,823 18,383 28,640
OPERATING INCOME 180,653 171,857 565,787 562,529
Other income and expense:        
Interest and investment (expense) income (455) 844 2,471 4,772
Interest expense (3,122) (3,207) (9,358) (9,704)
EARNINGS BEFORE INCOME TAXES 177,076 169,494 558,900 557,597
Provision for income taxes 63,171 57,087 187,309 186,922
NET EARNINGS 113,905 112,407 371,591 370,675
Less: Net earnings attributable to noncontrolling interest 270 1,240 2,720 3,226
NET EARNINGS ATTRIBUTABLE TO HORMEL FOODS CORPORATION $ 113,635 $ 111,167 $ 368,871 $ 367,449
NET EARNINGS PER SHARE:        
BASIC (in dollars per share) $ 0.43 $ 0.42 $ 1.39 $ 1.39
DILUTED (in dollars per share) $ 0.42 $ 0.41 $ 1.37 $ 1.37
WEIGHTED-AVERAGE SHARES OUTSTANDING:        
BASIC (in shares) 264,605 263,359 264,472 263,638
DILUTED (in shares) 270,769 268,746 270,230 269,138
DIVIDENDS DECLARED PER SHARE: (in dollars per share) $ 0.17 $ 0.15 $ 0.51 $ 0.45