XML 14 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Apr. 24, 2016
Apr. 26, 2015
Apr. 24, 2016
Apr. 26, 2015
Consolidated Statements of Operations        
Net sales $ 2,300,235 $ 2,279,345 $ 4,592,907 $ 4,674,418
Cost of products sold 1,773,876 1,819,789 3,508,537 3,770,257
GROSS PROFIT 526,359 459,556 1,084,370 904,161
Selling, general and administrative 211,144 189,733 421,092 370,032
Goodwill impairment charge 991   991  
Equity in earnings of affiliates 9,593 7,874 21,068 9,534
OPERATING INCOME 323,817 277,697 683,355 543,663
Other income and expense:        
Interest and investment income (loss) 3,409 1,117 1,446 2,266
Interest expense (3,029) (3,083) (6,436) (6,161)
EARNINGS BEFORE INCOME TAXES 324,197 275,731 678,365 539,768
Provision for income taxes 108,813 95,296 227,814 186,903
NET EARNINGS 215,384 180,435 450,551 352,865
Less: Net (loss) earnings attributable to noncontrolling interest (13) 234 93 946
NET EARNINGS ATTRIBUTABLE TO HORMEL FOODS CORPORATION $ 215,397 $ 180,201 $ 450,458 $ 351,919
NET EARNINGS PER SHARE:        
BASIC (in dollars per share) $ 0.41 $ 0.34 $ 0.85 $ 0.67
DILUTED (in dollars per share) $ 0.40 $ 0.33 $ 0.83 $ 0.65
WEIGHTED-AVERAGE SHARES OUTSTANDING:        
BASIC (in shares) 529,898 528,056 529,380 527,704
DILUTED (in shares) 543,769 540,888 543,253 540,505
DIVIDENDS DECLARED PER SHARE: (in dollars per share) $ 0.145 $ 0.125 $ 0.290 $ 0.250