Restructuring and Related Charges Restructuring and Related Charges (Tables)

3 Months Ended

9 Months Ended

24 Months Ended

Jul. 01, 2023

Jun. 29, 2024

Jul. 01, 2023

Jun. 29, 2024

Restructuring Cost and Reserve [Line Items]

Total Pretax Anticipated Expenses of Restructuring Program

The following table reflects the total pretax anticipated expenses associated with the 2022 Program (in millions):



	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	25	$	7	$	22	$	53	$	18	$	125
Relocation and related costs	22		7		3		21		—		53
Accelerated depreciation	5		2		—		12		—		19
Contract and lease terminations	—		—		—		21		—		21
Professional and other fees	2		1		—		4		—		7
Total 2022 Program	$	54	$	17	$	25	$	111	$	18	$	225

Schedule of Restructuring Reserve by Type of Cost

The following table reflects our liability related to the 2022 Program, which was recognized in Other current liabilities in our Consolidated Condensed Balance Sheet as of June 29, 2024 (in millions):



	Balance at September 30, 2023		Restructuring Expense		Payments		Changes in Estimates		Balance at June 29, 2024
Severance costs	$	58	$	6	$	(51)	$	(2)	$	11
Relocation and related costs	5		8		(11)		—		2
Contract and lease termination	—		9		(9)		—		—
Professional and other fees	2		—		—		(1)		1
Total	$	65	$	23	$	(71)	$	(3)	$	14

Restructuring and Related Costs [Table Text Block]

The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the third quarter of fiscal 2023 by reportable segment (in millions):


	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	4	$	1	$	10	$	4	$	9	$	28
Relocation and related costs	7		3		—		6		—		16
Accelerated depreciation	1		—		—		3		—		4
Contract and lease terminations	—		—		—		1		—		1
Professional and other fees	1		—		—		—		—		1
Total	$	13	$	4	$	10	$	14	$	9	$	50

The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the first nine months of fiscal 2024 by reportable segment (in millions):


	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	1	$	—	$	2	$	1	$	—	$	4
Relocation and related costs	3		1		—		4		—		8
Accelerated depreciation	—		—		—		—		—		—
Contract and lease terminations	—		—		—		19		—		19
Professional and other fees	—		—		—		—		—		—
Total	$	4	$	1	$	2	$	24	$	—	$	31

The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the first nine months of fiscal 2023 by reportable segment (in millions):


	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	6	$	2	$	9	$	10	$	15	$	42
Relocation and related costs	14		5		2		12		—		33
Accelerated depreciation	4		1		—		9		—		14
Contract and lease terminations	—		—		—		(1)		—		(1)
Professional and other fees	2		—		—		3		—		5
Total	$	26	$	8	$	11	$	33	$	15	$	93

The following table reflects the pretax 2022 Program charges to date by reportable segment (in millions):



	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	25	$	7	$	22	$	53	$	18	$	125
Relocation and related costs	21		7		2		20		—		50
Accelerated depreciation	5		2		—		12		—		19
Contract and lease terminations	—		—		—		21		—		21
Professional and other fees	2		1		—		3		—		6
Total	$	53	$	17	$	24	$	109	$	18	$	221

Schedule of Accrued Liabilities Related to Plant Closures

The following table reflects our liability related to plant closures as of June 29, 2024 (in millions):


	Balance at September 30, 2023		Plant Closure Charges		Payments		Balance at June 29, 2024
Contract termination	$	151	$	13	$	(64)	$	100
Severance and retention	14		9		(12)		11
Total	$	165	$	22	$	(76)	$	111

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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