XML 14 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jul. 30, 2017
Jul. 24, 2016
Jul. 30, 2017
Jul. 24, 2016
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 2,207,375 $ 2,302,376 $ 6,674,911 $ 6,895,283
Cost of products sold 1,754,966 1,827,091 5,183,302 5,335,628
GROSS PROFIT 452,409 475,285 1,491,609 1,559,655
Selling, general and administrative 176,660 206,876 567,886 627,968
Goodwill impairment charge       991
Equity in earnings of affiliates 3,956 6,381 27,376 27,449
OPERATING INCOME 279,705 274,790 951,099 958,145
Other income and expense:        
Interest and investment income 1,376 2,474 6,643 3,920
Interest expense (3,057) (3,147) (9,106) (9,583)
EARNINGS BEFORE INCOME TAXES 278,024 274,117 948,636 952,482
Provision for income taxes 95,473 78,341 319,896 306,155
NET EARNINGS 182,551 195,776 628,740 646,327
Less: Net earnings attributable to noncontrolling interest 43 122 159 215
NET EARNINGS ATTRIBUTABLE TO HORMEL FOODS CORPORATION $ 182,508 $ 195,654 $ 628,581 $ 646,112
NET EARNINGS PER SHARE:        
BASIC (in dollars per share) $ 0.35 $ 0.37 $ 1.19 $ 1.22
DILUTED (in dollars per share) $ 0.34 $ 0.36 $ 1.17 $ 1.19
WEIGHTED-AVERAGE SHARES OUTSTANDING:        
BASIC (in shares) 528,165 529,660 528,487 529,473
DILUTED (in shares) 538,814 542,163 539,504 542,890
DIVIDENDS DECLARED PER SHARE (in dollars per share): $ 0.170 $ 0.145 $ 0.510 $ 0.435