v3.24.2.u1
Segment Reporting (Tables)
 9 Months Ended
Jun. 29, 2024
Segment Reporting [Abstract]  
Segment Reporting Information, By Segment
Information on segments and a reconciliation to income before income taxes are as follows (in millions): 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Sales:
Beef$5,241 $4,956 $15,218 $14,296 
Pork1,462 1,324 4,465 4,274 
Chicken4,076 4,212 12,174 12,905 
Prepared Foods2,432 2,383 7,379 7,343 
International/Other582 633 1,744 1,879 
Intersegment(440)(368)(1,236)(1,164)
Total Sales$13,353 $13,140 $39,744 $39,533 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Operating Income (Loss):
Beef(a)
$(69)$66 $(310)$232 
Pork(b)
(62)(74)(24)(128)
Chicken(c)
244 (314)579 (503)
Prepared Foods203 206 676 705 
International/Other(d)
25 (234)(37)(238)
Total Operating Income (Loss)341 (350)884 68 
Total Other (Income) Expense88 76 267 190 
Income (Loss) before Income Taxes$253 $(426)$617 $(122)
(a) Beef segment results for the nine months ended June 29, 2024 included a $45 million legal contingency accrual and $41 million of costs related to plant closures recognized in Cost of Sales. Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.
(b) Pork segment results for the three and nine months ended June 29, 2024 included $39 million and $73 million, respectively, of costs related to plant closures, recognized in Cost of Sales. Additionally, Pork segment results for the three and nine months ended June 29, 2024 included $45 million and $73 million, respectively, related to the recognition of legal contingency accruals, of which the amount recognized in the third quarter of fiscal 2024 was a reduction to Sales and the remainder was recognized in Cost of Sales.
(c) Chicken segment results for the three and nine months ended June 29, 2024 included $2 million and $41 million, respectively, of costs related to plant closures and $5 million of production facility fire costs incurred, net of insurance proceeds, and $19 million of insurance proceeds, net of costs incurred, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended June 29, 2024 included a $56 million legal contingency accrual, recognized in Costs of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included production facility fire insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included a charge of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales, and $210 million of goodwill impairment.
(d) International/Other results for the three and nine months ended June 29, 2024 included $3 million and $83 million, respectively, of costs, net of insurance proceeds, related to a fire at our production facility in the Netherlands and subsequent decision to sell, recognized in Cost of Sales. International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.
Disaggregation of Revenue, By Segment and Distribution Channel
The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,566 $1,318 $707 $541 $5,132 $109 $5,241 
Pork464 141 322 228 1,155 307 1,462 
Chicken1,720 1,567 256 509 4,052 24 4,076 
Prepared Foods1,434 876 58 64 2,432 — 2,432 
International/Other— — 582 — 582 — 582 
Intersegment— — — — — (440)(440)
Total$6,184 $3,902 $1,925 $1,342 $13,353 $— $13,353 
Three months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,313 $1,257 $671 $575 $4,816 $140 $4,956 
Pork394 125 294 305 1,118 206 1,324 
Chicken1,823 1,636 264 467 4,190 22 4,212 
Prepared Foods1,396 898 55 34 2,383 — 2,383 
International/Other— — 633 — 633 — 633 
Intersegment— — — — — (368)(368)
Total$5,926 $3,916 $1,917 $1,381 $13,140 $— $13,140 
Nine months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$7,330 $3,920 $2,001 $1,668 $14,919 $299 $15,218 
Pork1,374 379 1,050 797 3,600 865 4,465 
Chicken5,188 4,782 698 1,434 12,102 72 12,174 
Prepared Foods4,336 2,733 168 142 7,379 — 7,379 
International/Other— — 1,744 — 1,744 — 1,744 
Intersegment— — — — — (1,236)(1,236)
Total$18,228 $11,814 $5,661 $4,041 $39,744 $— $39,744 
Nine months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$6,581 $3,577 $1,978 $1,782 $13,918 $378 $14,296 
Pork1,268 356 926 994 3,544 730 4,274 
Chicken5,668 4,902 758 1,521 12,849 56 12,905 
Prepared Foods4,334 2,734 162 113 7,343 — 7,343 
International/Other— — 1,879 — 1,879 — 1,879 
Intersegment— — — — — (1,164)(1,164)
Total$17,851 $11,569 $5,703 $4,410 $39,533 $— $39,533 
(a) Includes external sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.
(b) Includes external sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.
(c) Includes external sales to international markets for internationally produced products or export sales of domestically produced products.
(d) Includes external sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories. For the three and nine months ended June 29, 2024, the Pork segment included a $45 million reduction in Other due to the recognition of a legal contingency accrual. For the three and nine months ended July 1, 2023, the Chicken segment included a $38 million reduction in Other due to the recognition of a legal contingency accrual.