Segment Reporting (Tables)

12 Months Ended

Oct. 29, 2017

Segment Reporting

Schedule of sales and operating profits for each of the reportable segments and reconciliation to earnings before income taxes

(in thousands)	2017		2016		2015
Net Sales (to unaffiliated customers)
Grocery Products	$	1,761,105	$	1,684,756	$	1,617,680
Refrigerated Foods	4,403,732		4,647,173		4,372,347
Jennie-O Turkey Store	1,663,160		1,740,968		1,635,776
Specialty Foods	794,508		939,134		1,103,359
International & Other	545,014		511,193		534,701
Total	$	9,167,519	$	9,523,224	$	9,263,863
Intersegment Sales
Grocery Products	$	–	$	–	$	–
Refrigerated Foods	7,832		11,341		13,058
Jennie-O Turkey Store	113,384		120,742		128,195
Specialty Foods	32		26		64
International & Other	–		–		–
Total	121,248		132,109		141,317
Intersegment elimination	(121,248)		(132,109)		(141,317)
Total	$	–	$	–	$	–
Segment Net Sales
Grocery Products	$	1,761,105	$	1,684,756	$	1,617,680
Refrigerated Foods	4,411,564		4,658,514		4,385,405
Jennie-O Turkey Store	1,776,544		1,861,710		1,763,971
Specialty Foods	794,540		939,160		1,103,423
International & Other	545,014		511,193		534,701
Intersegment elimination	(121,248)		(132,109)		(141,317)
Total	$	9,167,519	$	9,523,224	$	9,263,863
Segment Operating
Profit
Grocery Products	$	290,809	$	268,461	$	228,582
Refrigerated Foods	587,929		585,652		424,968
Jennie-O Turkey Store	247,322		329,427		276,217
Specialty Foods	96,828		110,917		93,258
International & Other	85,304		78,409		78,318
Total segment operating profit	$	1,308,192	$	1,372,866	$	1,101,343
Net interest and investment expense (income)	1,824		6,680		10,177
General corporate expense	28,091		49,436		35,199
Noncontrolling interest	368		465		1,176
Earnings Before Income Taxes	$	1,278,645	$	1,317,215	$	1,057,143

(in thousands)	2017		2016		2015
Assets
Grocery Products	$	1,445,658	$	1,472,316	$	1,214,988
Refrigerated Foods	2,324,749		1,999,821		1,973,424
Jennie-O Turkey Store	942,369		882,812		811,693
Specialty Foods	769,496		805,597		956,945
International & Other	675,878		510,904		477,674
Corporate	817,758		698,617		705,107
Total	$	6,975,908	$	6,370,067	$	6,139,831
Additions to Property,
Plant and Equipment
Grocery Products	$	14,432	$	15,830	$	18,104
Refrigerated Foods	79,836		93,430		54,074
Jennie-O Turkey Store	88,063		61,340		32,250
Specialty Foods	2,011		5,372		5,309
International & Other	33,124		44,407		18,576
Corporate	3,820		35,145		15,750
Total	$	221,286	$	255,524	$	144,063
Depreciation and
Amortization
Grocery Products	$	31,739	$	29,725	$	26,972
Refrigerated Foods	45,911		53,229		53,325
Jennie-O Turkey Store	31,611		29,225		28,262
Specialty Foods	5,357		5,165		11,075
International & Other	4,042		3,969		3,372
Corporate	12,317		10,655		10,428
Total	$	130,977	$	131,968	$	133,434

Schedule of percentages of total revenues contributed by classes of similar products

	Fiscal Year Ended
	October 29,	October 30,	October 25,
	2017	2016	2015
Perishable	53.7%	53.1%	53.0%
Shelf-stable	20.2	18.2	18.4
Poultry	19.1	20.5	18.6
Miscellaneous	7.0	8.2	10.0
Total	100.0%	100.0%	100.0%

Schedule of total revenues attributable to U.S. and all foreign countries

	Fiscal Year Ended
	October 29,	October 30,	October 25,
(in thousands)	2017	2016	2015
United States	$ 8,631,325	$ 9,012,797	$ 8,721,722
Foreign	536,194	510,427	542,141
Total	$ 9,167,519	$ 9,523,224	$ 9,263,863