XML 27 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Oct. 29, 2017
Oct. 30, 2016
[1]
Oct. 25, 2015
CONSOLIDATED STATEMENTS OF OPERATIONS      
Net sales $ 9,167,519 $ 9,523,224 $ 9,263,863
Cost of products sold 7,164,356 7,365,049 7,455,282
GROSS PROFIT 2,003,163 2,158,175 1,808,581
Selling, general and administrative 762,104 871,974 743,611
Goodwill/intangible impairment 180 991 21,537
Equity in earnings of affiliates 39,590 38,685 23,887
OPERATING INCOME 1,280,469 1,323,895 1,067,320
Other income and expense:      
Interest and investment income 10,859 6,191 2,934
Interest expense (12,683) (12,871) (13,111)
EARNINGS BEFORE INCOME TAXES 1,278,645 1,317,215 1,057,143
Provision for income taxes 431,542 426,698 369,879
NET EARNINGS 847,103 890,517 687,264
Less: Net earnings attributable to noncontrolling interest 368 465 1,176
NET EARNINGS ATTRIBUTABLE TO HORMEL FOODS CORPORATION $ 846,735 $ 890,052 $ 686,088
NET EARNINGS PER SHARE:      
BASIC (in dollars per share) $ 1.60 $ 1.68 $ 1.30 [2]
DILUTED (in dollars per share) $ 1.57 $ 1.64 $ 1.27 [2]
WEIGHTED-AVERAGE SHARES OUTSTANDING:      
BASIC (in shares) 528,363 529,290 528,143 [2]
DILUTED (in shares) 539,116 542,473 541,002 [2]
[1] Fiscal 2016 included 53 weeks
[2] Shares and par values have been restated, as appropriate, to reflect the two-for-one stock split distributed on February 9, 2016.