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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Net sales:        
Total net sales $ 2,209 $ 2,393 $ 4,400 $ 4,892
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 2,080 2,297 4,184 4,762
Gross income 129 96 216 130
Selling, general and administrative expenses 99 100 206 197
Operating income (loss) 30 (4) 10 (67)
Other income (expense):        
Interest expense (17) (20) (29) (32)
Interest income (includes $0, $1, $1 and $3 from affiliates) 17 14 36 27
Income from affiliates 23 25 42 51
Other investment income, net 5 23 23 50
Foreign currency gains (losses), net (11) 7 (12) 3
Miscellaneous, net (1) 3 (1) 3
Total other income, net 16 52 59 102
Earnings before income taxes 46 48 69 35
Income tax benefit 15 4 14 1
Net earnings 61 52 83 36
Less: Net earnings attributable to noncontrolling interests 0 0 0 0
Net earnings attributable to Seaboard $ 61 $ 52 $ 83 $ 36
Earnings per common share - basic (in dollars per share) $ 62.82 $ 44.80 $ 85.47 $ 31.01
Earnings per common share - diluted (in dollars per share) $ 62.82 $ 44.80 $ 85.47 $ 31.01
Average number of shares outstanding - basic (in shares) 971,055 1,160,779 971,055 1,160,779
Average number of shares outstanding - diluted (in shares) 971,055 1,160,779 971,055 1,160,779
Other comprehensive income (loss), net of income tax expense:        
Foreign currency translation adjustment   $ 1 $ (2) $ 13
Unrecognized pension cost   2 2 4
Other comprehensive income, net of tax $ 0 3   17
Comprehensive income 61 55 83 53
Less: Comprehensive income attributable to noncontrolling interests 0 0 0 0
Comprehensive income attributable to Seaboard 61 55 83 53
Products        
Net sales:        
Total net sales 1,802 1,957 3,594 3,941
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 1,751 1,982 3,520 4,076
Services        
Net sales:        
Total net sales 348 373 698 836
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 289 275 586 606
Other        
Net sales:        
Total net sales 59 63 108 115
Cost of sales and operating expenses:        
Total cost of sales and operating expenses $ 40 $ 40 $ 78 $ 80