Audit Information |
12 Months Ended |
|---|---|
Oct. 26, 2025 | |
| Audit Information [Abstract] | |
| Auditor Name | Ernst & Young LLP |
| Auditor Location | Minneapolis, Minnesota |
| Auditor Firm ID | 42 |
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Income Statement [Abstract] | |||
| Net Sales | $ 12,106,160 | $ 11,920,797 | $ 12,110,010 |
| Cost of Products Sold | 10,214,344 | 9,898,659 | 10,110,169 |
| Gross Profit | 1,891,816 | 2,022,138 | 1,999,841 |
| Selling, General, and Administrative | 996,624 | 1,005,294 | 942,167 |
| Equity in Earnings of Affiliates | (105,839) | 51,088 | 42,754 |
| Goodwill and Intangible Impairment | 70,751 | 0 | 28,383 |
| Operating Income | 718,603 | 1,067,932 | 1,072,046 |
| Interest Income | 24,227 | 40,172 | 23,501 |
| Interest Expense | 78,038 | 80,894 | 73,402 |
| Other Income (Expense), Net | (1,344) | 8,224 | (8,673) |
| Earnings Before Income Taxes | 663,449 | 1,035,434 | 1,013,472 |
| Provision for Income Taxes | 185,684 | 230,803 | 220,552 |
| Net Earnings | 477,764 | 804,631 | 792,920 |
| Less: Net Earnings (Loss) Attributable to Noncontrolling Interest | (433) | (407) | (653) |
| Net Earnings Attributable to Hormel Foods Corporation | $ 478,197 | $ 805,038 | $ 793,572 |
| Net Earnings Per Share: | |||
| Basic (in dollars per share) | $ 0.87 | $ 1.47 | $ 1.45 |
| Diluted (in dollars per share) | $ 0.87 | $ 1.47 | $ 1.45 |
| Weighted-average Shares Outstanding: | |||
| Basic (in shares) | 550,164 | 548,129 | 546,421 |
| Diluted (in shares) | 550,496 | 548,832 | 548,982 |
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net Earnings | $ 477,764 | $ 804,631 | $ 792,920 |
| Other Comprehensive Income (Loss), Net of Tax: | |||
| Foreign Currency Translation | (44,120) | 15,618 | 3,588 |
| Pension and Other Benefits | 44,309 | (3,333) | 11,632 |
| Derivatives and Hedging | 10,046 | 11,075 | (38,940) |
| Equity Method Investments | 8,967 | (14,050) | 6,847 |
| Total Other Comprehensive Income (Loss) | 19,202 | 9,310 | (16,874) |
| Comprehensive Income | 496,966 | 813,941 | 776,045 |
| Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest | (916) | (18) | (836) |
| Comprehensive Income Attributable to Hormel Foods Corporation | $ 497,882 | $ 813,959 | $ 776,881 |
Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Accounts Receivable, Allowance for Doubtful Accounts | $ 3,743 | $ 3,712 |
| Preferred Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
| Preferred Stock, Authorized (in shares) | 160,000,000 | 160,000,000 |
| Preferred Stock, Issued (in shares) | 0 | 0 |
| Common Stock, Nonvoting | ||
| Common Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
| Common Stock, Authorized (in shares) | 400,000,000 | 400,000,000 |
| Common Stock, Issued (in shares) | 0 | 0 |
| Common Stock | ||
| Common Stock, Par Value (in dollars per share) | $ 0.01465 | $ 0.01465 |
| Common Stock, Authorized (in shares) | 1,600,000,000 | 1,600,000,000 |
| Common Stock, Issued (in shares) | 550,107,260 | 548,605,305 |
Consolidated Statements of Changes in Shareholders’ Investment (Parenthetical) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Statement of Stockholders' Equity [Abstract] | |||
| Declared Dividends (in dollars per share) | $ 1.16 | $ 1.13 | $ 1.10 |
Summary of Significant Accounting Policies |
12 Months Ended |
|---|---|
Oct. 26, 2025 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Principles of Consolidation: The consolidated financial statements include the accounts of Hormel Foods Corporation (the Company) and all its majority-owned subsidiaries after elimination of intercompany accounts, transactions, and profits. Financial information from certain foreign subsidiaries is reported on a one-month lag. Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Rounding: Certain amounts in the consolidated financial statements and associated notes may not foot due to rounding. All percentages have been calculated using unrounded amounts. Fiscal Year: The Company’s fiscal year ends on the last Sunday in October. Fiscal 2025, 2024, and 2023 consisted of 52 weeks. Fiscal 2026 will consist of 52 weeks. Reclassifications: Certain prior year amounts have been reclassified to conform to the current year presentation. •Consolidated Statements of Operations: Interest and Investment Income has been separated into Interest Income and Other Income (Expense), Net. •Consolidated Statements of Financial Position: The major classes of Property, Plant, and Equipment are now disclosed in Note F - Property, Plant, and Equipment. •Consolidated Statements of Cash Flows: The prior year Loss (Gain) on Sale of Business, previously included in Other Non-cash, Net, is now presented separately. Cash and Cash Equivalents: The Company considers all investments with an original maturity of three months or less on their acquisition date to be cash equivalents. The Company’s cash equivalents as of October 26, 2025, and October 27, 2024, consisted primarily of bank deposits, money market funds, or other highly liquid investment accounts. The net asset value (NAV) of the Company’s money market funds is based on the market value of the securities in the portfolio. Fair Value Measurements: Pursuant to the provisions of Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, the Company measures certain assets and liabilities at fair value or discloses the fair value of certain assets and liabilities recorded at cost in the consolidated financial statements. Fair value is calculated as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). ASC 820 establishes a fair value hierarchy which requires assets and liabilities measured at fair value to be categorized into one of three levels based on the inputs used in the valuation. The Company classifies assets and liabilities in their entirety based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows: Level 1 Observable inputs based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 Observable inputs, other than those included in Level 1, based on quoted prices for similar assets and liabilities in active markets, or quoted prices for identical assets and liabilities in inactive markets. Level 3 Unobservable inputs that reflect an entity’s own assumptions about what inputs a market participant would use in pricing the asset or liability based on the best information available in the circumstances. See additional discussion regarding the Company’s fair value measurements in Note G - Derivatives and Hedging, Note H - Pension and Other Postretirement Benefits, and Note J - Fair Value Measurements. Deferred Compensation and Other Trading Securities: The Company maintains a rabbi trust to fund certain supplemental executive retirement plans and deferred compensation plans. The rabbi trust is reflected in Other Assets and deferred compensation liabilities in Other Long-term Liabilities. The assets held by the rabbi trust are classified as trading securities. Therefore, unrealized gains and losses associated with these investments are included in Other Income (Expense), Net. Inventories: Inventories are stated at the lower of cost or net realizable value. Cost is determined principally under the average cost method. Adjustments to the Company’s lower of cost or net realizable value inventory reserve are reflected in Cost of Products Sold. Property, Plant, and Equipment: Property, Plant, and Equipment are stated at cost and the Company recognizes depreciation using the straight-line method over the estimated useful life of the assets. Costs associated with software developed or obtained for internal use, including third-party development fees incurred during the application development stage, are capitalized and amortized on a straight-line basis. Depreciation has been computed principally using asset lives of 20 to 40 years for buildings and 3 to 14 years for software and equipment. Leases: The Company determines if an arrangement contains a lease at inception. Right-of-use assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at the commencement date. Leases with an initial term of twelve months or less are not recorded on the Consolidated Statements of Financial Position. The Company combines lease and non-lease components together in determining the minimum lease payments for all leases. The length of the lease term used in recording right-of-use assets and lease liabilities is based on the contractually required lease term adjusted for any options to renew, early terminate, or purchase the lease that are reasonably certain of being exercised. Most leases include one or more options to renew or terminate. The exercise of lease renewal and termination options is at the Company’s discretion and generally is not reasonably certain at lease commencement. The Company’s lease agreements typically do not contain material residual value guarantees. The Company has one lease with an immaterial residual value guarantee that is included in the minimum lease payments. Certain lease agreements include rental payment increases over the lease term that can be fixed or variable. Fixed payment increases and variable payment increases based on an index or rate are included in the initial lease liability using the index or rate at commencement date. Variable payment increases not based on an index or rate are recognized as incurred. If the rate implicit in the lease is not readily determinable, the Company used its periodic incremental borrowing rate, based on the information available at commencement date, to determine the present value of future lease payments. Leases and right-of-use assets that existed prior to the adoption of Accounting Standards Update 2016-02, Leases (Topic 842) were valued using the incremental borrowing rate on October 28, 2019. Impairment of Long-lived Assets and Definite-lived Intangible Assets: Long-lived and definite-lived intangible assets are amortized over their estimated useful lives. The Company reviews long-lived assets and definite-lived intangible assets for impairment annually, or more frequently when events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If impairment indicators are present and the estimated future undiscounted cash flows are less than the carrying value of the assets, the carrying value is reduced to the estimated fair value. During the fourth quarter of fiscal 2025, the Company completed its annual impairment testing of long-lived assets by performing qualitative assessments. The Company recorded no material impairment charges for long-lived assets in fiscal years 2025, 2024, or 2023. See additional discussion regarding the Company’s definite-lived intangible asset impairment testing in Note C - Goodwill and Intangible Assets. Goodwill and Other Indefinite-Lived Intangibles: Indefinite-lived intangible assets are originally recorded at their estimated fair values at the date of acquisition. Goodwill is the residual after allocating the purchase price to net assets acquired. Acquired goodwill and other indefinite-lived intangible assets are allocated to reporting units that will receive the related benefits. Goodwill and indefinite-lived intangible assets are tested annually for impairment during the fourth quarter or more frequently if impairment indicators arise. Goodwill and intangible impairment charges, when applicable, are reflected as Goodwill and Intangible Impairment in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows. The impairment charges are reflected in the segment with primary ownership of the asset. See additional discussion regarding the Company’s goodwill and indefinite-lived intangible assets in Note C - Goodwill and Intangible Assets. Goodwill In conducting the annual impairment test for goodwill, the Company has the option to first assess qualitative factors to determine whether it is more likely than not (> 50 percent likelihood) the fair value of any reporting unit is less than its carrying amount. If the Company elects to perform a qualitative assessment and determines an impairment is more likely than not, the Company is required to perform a quantitative impairment test. Otherwise, no further analysis is required. Alternatively, the Company may elect to proceed directly to the quantitative impairment test. In conducting a qualitative assessment, the Company analyzes actual and projected growth trends for net sales, gross margin, and segment profit for each reporting unit, as well as historical performance versus plan and the results of prior quantitative tests. Additionally, the Company assesses factors that may impact the reporting unit’s financial results such as macroeconomic conditions and the related impact, market-related exposures, plans to market for sale all or a portion of the business, competitive changes, new or discontinued product lines, and changes in key personnel. If completed, the quantitative goodwill impairment test is performed at the reporting unit level. First, the fair value of each reporting unit is compared to its corresponding carrying value, including goodwill. The fair value of each reporting unit is estimated using discounted cash flow valuations (Level 3), which incorporate assumptions regarding future growth rates, terminal values, and discount rates. The estimates and assumptions used consider historical performance and are consistent with the assumptions used in determining future profit plans for each reporting unit, which are approved by the Company’s Board of Directors. If the quantitative assessment results in the carrying value exceeding the fair value of any reporting unit, the results from the quantitative analysis will be relied upon to determine both the existence and amount of goodwill impairment. An impairment loss will be recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill in that reporting unit. Indefinite-Lived Intangibles In conducting the annual impairment test for its indefinite-lived intangible assets, the Company first performs a qualitative assessment to determine whether it is more likely than not (> 50 percent likelihood) an indefinite-lived intangible asset is impaired. If the Company concludes this is the case, a quantitative test for impairment must be performed. Otherwise, the Company does not need to perform a quantitative test. In conducting the qualitative assessment, the Company analyzes growth rates for historical and projected net sales and the results of prior quantitative tests. Additionally, each operating segment assesses items that may impact the value of their intangible assets or the applicable royalty rates to determine if impairment may be indicated. If performed, the quantitative impairment test compares the fair value and carrying amount of the indefinite-lived intangible asset. The fair value of indefinite-lived intangible assets is primarily determined on the basis of estimated discounted value using the relief from royalty method (Level 3), which incorporates assumptions regarding future sales projections, royalty rates, and discount rates. If the carrying amount exceeds fair value, the indefinite-lived intangible asset is considered impaired, and an impairment charge is recorded for the difference. Even if not required, the Company may elect to perform the quantitative test in order to gain further assurance in the qualitative assessment. Pension and Other Postretirement Benefits: The Company has elected to use the corridor approach to recognize expenses related to its defined benefit pension and other postretirement benefit plans. Under the corridor approach, actuarial gains or losses resulting from experience and changes in assumptions are deferred and amortized over future periods. For the defined benefit pension plans, the unrecognized gains and losses are amortized when the net gain or loss exceeds 10 percent of the greater of the projected benefit obligation or the fair value of plan assets at the beginning of the year. For the other postretirement plans, the unrecognized gains and losses are amortized when the net gain or loss exceeds 10 percent of the accumulated pension benefit obligation at the beginning of the year. For plans with primarily active participants, net gains or losses in excess of the corridor are amortized over the average remaining service period of participating employees expected to receive benefits under those plans. For plans with primarily inactive participants, net gains or losses in excess of the corridor are amortized over the average remaining life of the participants receiving benefits under those plans. These non-service cost components of net pension and postretirement benefit cost are recorded within Other Income (Expense), Net. Contingent Liabilities: The Company may be subject to investigations, legal proceedings, or claims related to the ongoing operation of its business, including claims both by and against the Company. Such proceedings typically involve claims related to product liability, contract disputes, antitrust regulations, wage and hour laws, employment practices, or other actions brought by employees, consumers, competitors, government agencies, or suppliers. The Company establishes accruals for its potential exposure for claims when losses become probable and reasonably estimable. Where the Company is able to reasonably estimate a range of probable losses, but no amount within the range is more likely than another, the Company records the amount at the low end of the range. The Company also discloses the nature of claims against the Company when losses are reasonably possible and material; in this situation, the Company also discloses an estimate of the possible loss, range of loss, or that an estimate cannot be made. Foreign Currency Translation: Assets and liabilities denominated in foreign currency are translated at the current exchange rate as of the date of the Consolidated Statements of Financial Position. Amounts in the Consolidated Statements of Operations are translated at the average monthly exchange rate. Translation adjustments resulting from fluctuations in exchange rates are recorded as a component of Accumulated Other Comprehensive Loss. When calculating foreign currency translation, the Company has deemed its foreign investments to be permanent in nature and has not provided for taxes on currency translation adjustments arising from converting the investment in a foreign currency to U.S. dollars. Derivatives and Hedging Activity: The Company uses derivative instruments to manage its exposure to commodity prices and interest rates. Hedge accounting is used for cash flow and fair value hedging programs that qualify in accordance with ASC 815, Derivatives and Hedging. The Company has determined its designated hedging programs to be highly effective in offsetting the changes in fair value or cash flows generated by the items hedged. Effectiveness testing is performed on a quarterly basis to ascertain a high level of effectiveness for cash flow and fair value hedging programs. If the requirements of hedge accounting are no longer met, hedge accounting is discontinued immediately and any future changes to fair value are recorded directly through earnings. The derivative instruments are recorded at fair value on the Consolidated Statements of Financial Position. The Company nets the derivative assets and liabilities for each of its commodity hedging programs, including cash collateral when a master netting arrangement exists between the Company and the counterparty to the derivative contract. The amount and timing of cash collateral balances may impact the classification of the commodity derivative on the Consolidated Statements of Financial Position. The net balance for commodity derivatives is included in Prepaid Expenses and Other Current Assets or Accounts Payable, as appropriate. The cash flow impacts from the derivative instruments are included in Operating Activities in the Consolidated Statements of Cash Flows. Equity Method Investments: The Company has a number of investments for which its voting interests are in excess of 20 percent but not greater than 50 percent and for which there are no other indicators of control. The Company accounts for such investments under the equity method of accounting and its underlying share of each investee’s equity, along with any balances due to or from affiliates and the effect of foreign currency translation on the carrying value, is reported in Investments in Affiliates. The Company records its interest in the net earnings of its equity method investments, along with adjustments for unrealized profits on intra-entity transactions, within Equity in Earnings of Affiliates. Basis differences associated with definite-lived assets are amortized through Equity in Earnings of Affiliates over the associated useful lives. Financial results for certain entities are reported on a 30- to 90-day lag. The Company uses the cumulative earnings approach to determine the cash flow presentation of distributions from equity method investments. Distributions received are reflected in Operating Activities in the Consolidated Statements of Cash Flows unless the cumulative distributions exceed the portion of the cumulative equity in earnings of the equity method investment. Distributions in excess of the cumulative equity in earnings are deemed to be returns of the investment and classified as Investing Activities in the Consolidated Statements of Cash Flows. The Company regularly monitors and evaluates the fair value of its equity method investments. If events and circumstances, such as ongoing or projected decreases in earnings or significant business disruptions, indicate that a decline in the fair value of these assets has occurred and is other than temporary, the Company records an impairment charge in Equity in Earnings of Affiliates and reduces the carrying value in Investments in Affiliates. See additional information pertaining to the Company’s equity method investments in Note D - Investments in Affiliates. Revenue Recognition: The Company’s customer contracts predominantly contain a single performance obligation to fulfill customer orders for the purchase of specified products. Revenue from product sales is primarily identified by purchase orders (contracts), which in some cases are governed by a master sales agreement. The purchase orders in combination with the invoice typically specify quantity and product(s) ordered, shipping terms, and certain aspects of the transaction price including discounts. Contracts are at standalone pricing or governed by pricing lists or brackets. The Company’s revenue is recognized at the point in time when performance obligations have been satisfied and control of the product has transferred to the customer. This is typically once the ordered product is received or picked up by the customer. Revenue is recognized at the net consideration the Company expects to receive in exchange for the goods. The amount of net consideration recognized includes estimates of variable consideration, including costs for trade promotion programs, consumer incentives, allowances and discounts associated with distressed or potentially unsaleable products, returns, and other costs. A majority of the Company’s revenue is short-term in nature with shipments within one year from order date. The Company’s payment terms generally range between to 60 days and vary by sales channel and other factors. The Company accounts for shipping and handling costs as contract fulfillment costs and excludes taxes imposed on and collected from customers in revenue producing transactions from the transaction price. The Company does not have significant deferred revenue or unbilled receivable balances as a result of transactions with customers. Costs to obtain contracts with a duration of one year or less are expensed and included in Selling, General, and Administrative. The Company promotes products through advertising, consumer incentives, and trade promotions. These promotional programs include, but are not limited to, discounts, slotting fees, coupons, rebates, and in-store display incentives. Customer trade promotion and consumer incentive activities are recorded as a reduction to revenue and a corresponding accrued liability based on amounts estimated as variable consideration. The Company discloses revenue by reportable segment and class of similar product in Note Q - Segment Reporting. Allowance for Doubtful Accounts: The Company estimates the Allowance for Doubtful Accounts based on a combination of factors, evaluations, and historical data while considering current and future economic conditions. Advertising Expenses: Advertising costs are included in Selling, General, and Administrative and expensed when incurred. Advertising expenses include all media advertising but exclude the costs associated with samples, demonstrations, and market research. Advertising costs for fiscal 2025, 2024, and 2023 were $147.9 million, $163.3 million, and $160.1 million, respectively. Shipping and Handling Costs: The Company’s shipping and handling expenses are included in Cost of Products Sold. Research and Development Expenses: Research and development costs are expensed as incurred and are primarily included in Selling, General, and Administrative. Research and development expenses incurred for fiscal 2025, 2024, and 2023 were $35.2 million, $36.1 million, and $33.7 million, respectively. Income Taxes: The Company records income taxes in accordance with the liability method of accounting. Deferred taxes are recognized for the estimated taxes ultimately payable or recoverable based on enacted tax law. Changes in enacted tax rates are reflected in the tax provision as they occur. The Company has elected to treat global intangible low-taxed income (GILTI) as a period cost. In accordance with ASC 740, Income Taxes, the Company recognizes a tax position in its financial statements when it is more likely than not that the position will be sustained upon examination based on the technical merits of the position. That position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Unrecognized tax benefits, including interest and penalties, are primarily recorded in Other Long-term Liabilities. Stock-based Compensation: The Company records stock-based compensation expense in accordance with ASC 718, Compensation – Stock Compensation. The Company recognizes stock-based compensation expense ratably over the shorter of the vesting period or the grantee’s retirement eligibility date. These costs are primarily included in Selling, General, and Administrative. The Company estimates forfeitures at the time of grant based on historical experience and revises in subsequent periods if actual forfeitures differ. Share Repurchases: The Company may purchase shares of its common stock through open-market and privately negotiated transactions pursuant to share repurchase authorizations approved by the Company's Board of Directors and at prices deemed appropriate by management. The timing and amount of repurchase transactions under the repurchase authorization depend on market conditions as well as corporate and regulatory considerations. Supplemental Cash Flow Information: Non-cash Investment Activities presented in the Consolidated Statements of Cash Flows primarily consist of unrealized gains or losses on the Company’s rabbi trust. Changes in the value of these investments are presented in Other Income (Expense), Net. Accounting Changes and Recent Accounting Pronouncements: New Accounting Pronouncements Recently Adopted Fiscal 2025 In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and allows the disclosure of additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures currently required by Topic 280 to be included in interim periods. The Company adopted ASU 2023-07 in fiscal 2025. Refer to Note Q - Segment Reporting for the updated disclosures. Fiscal 2024 No new accounting standards were adopted during fiscal 2024. Fiscal 2023 No new accounting standards were adopted during fiscal 2023. New Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update is intended to enhance transparency and decision usefulness of annual income tax disclosures. The ASU updates income tax disclosure requirements by requiring specific categories and greater disaggregation within the rate reconciliation and disaggregation of income taxes paid by jurisdiction. The ASU is effective for the Company's fiscal year ending October 25, 2026. The Company is currently assessing the impact of adopting the updated provisions. In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. Subsequently, in January 2025, the FASB issued ASU 2025-01 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The new guidance is intended to provide investors more detailed disclosures around specific types of expenses. The new disclosures require certain details for expenses presented on the face of the Consolidated Statements of Operations as well as selling expenses to be presented in the notes to the financial statements. As clarified by ASU 2025-01, the guidance is effective for the Company's fiscal year ending October 29, 2028, and subsequent interim periods thereafter. The disclosure updates are required to be applied prospectively with the option for retrospective application. The Company is currently assessing the impact of adopting the updated guidance. In September 2025, the FASB issued ASU 2025-06 Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The new guidance is intended to modernize the accounting for internal-use software costs and better align recognition practices. The update introduces principles-based criteria entities must consider to begin capitalizing costs based on management authorization and project completion probability. The guidance is effective for the Company's fiscal year ending October 28, 2029, and subsequent interim periods thereafter, with early adoption permitted. Several transition approaches are available including prospective, retrospective, and a modified transition approach. The Company is currently assessing the impact, transition approach, and timing of adoption. Recently issued accounting standards or pronouncements not disclosed have been excluded as they are currently not relevant to the Company.
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Acquisitions and Divestitures |
12 Months Ended |
|---|---|
Oct. 26, 2025 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Acquisitions and Divestitures | Acquisitions and Divestitures Divestitures: On October 18, 2024, the Company sold its equity interests in Hormel Health Labs, LLC (Hormel Health Labs) and related assets to Lyons Health Labs Holdco, LLC for $24.5 million. The divestiture resulted in a pre-tax gain of $3.9 million, net of transaction costs, which was recognized in Selling, General, and Administrative. Results of operations for Hormel Health Labs were reflected within the Foodservice segment through the date of divestiture. On November 18, 2024, the Company sold its equity interests in a non-core sow operation, Mountain Prairie, LLC, and related assets to Chaparral Ranches, LLC for $13.6 million. The divestiture resulted in a pre-tax loss of $11.3 million, including transaction costs, which was recognized in Selling, General, and Administrative. Results of operations for Mountain Prairie, LLC were primarily reflected within the Retail segment through the date of divestiture. Subsequent to the end of the fiscal year, the Company announced a definitive agreement to sell a 51% controlling position in the Justin’s® business to Forward Consumer Partners, LLC based on a preliminary enterprise value of $125 million. The transaction is subject to customary closing conditions and is expected to be completed during the first quarter of fiscal 2026.
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Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill: The change in the carrying amount of goodwill for the fiscal years ended October 26, 2025, and October 27, 2024, is:
The goodwill sold during fiscal 2024 was due to the divestiture of Hormel Health Labs. Intangible Assets: The Company's intangible assets by type are:
Amortization expense on intangible assets for the last three fiscal years is as follows:
Estimated annual amortization expense on intangible assets for the five fiscal years after October 26, 2025, is as follows:
Impairment Testing: During the fourth quarter of fiscal 2025, 2024, and 2023, the Company completed its annual impairment tests of goodwill, indefinite-lived intangible assets, and definite-lived intangible assets. Useful lives of intangible assets were also reviewed during this process with no material changes identified. See Note A - Summary of Significant Accounting Policies for additional information on the Company's impairment testing procedures. Goodwill During the fourth quarter of fiscal 2025, the Company elected to complete its annual goodwill impairment tests by performing quantitative assessments. No goodwill impairment was indicated in the annual assessments in fiscal 2025, 2024, and 2023. Indefinite-lived Intangible Assets During the fourth quarter of fiscal 2025, the Company elected to complete its annual indefinite-lived intangible impairment tests by performing quantitative assessments. The assessments indicated an impairment for the Planters® trade name, resulting in an impairment charge of $59.1 million in the Retail segment, which reduced the remaining carrying value to $615.9 million. Since the production disruption in fiscal 2024, the Company has monitored the brand’s impairment status through quarterly qualitative assessments. While the brand has shown signs of recovery, including operational stabilization and improved revenue, the updated projections provided in the fourth quarter of fiscal 2025 reflect long-term revenue growth lagging previous expectations leading to the impairment. Additionally in the fourth quarter of fiscal 2025, impairment was indicated for the Chi-Chi's® trade name, resulting in an impairment charge of $2.9 million in the Retail segment, which reduced the remaining carrying value to $13.1 million. The impairment was driven by lower long-term forecasts influenced by recent performance trends. In fiscal 2023, qualitative assessments indicated that the Justin’s® trade name was more likely than not impaired, prompting a quantitative impairment test. As a result of the quantitative impairment test, an impairment charge was recognized in the Retail segment of $28.4 million. No other indefinite-lived intangible impairments were indicated in the fiscal 2025, 2024, and 2023 assessments. Definite-lived Intangible Assets During the fourth quarter of fiscal 2025, the Company completed its annual definite-lived intangible asset impairment tests by performing qualitative assessments. The assessment indicated impairment of a private label customer relationship acquired in the purchase of Columbus Manufacturing, Inc., which resulted in an impairment charge of $8.8 million in the Retail segment, and representing the full carrying value of the asset. The impairment was driven by recent performance results and the Company's intent to shift strategic focus to Columbus® branded products. No other definite-lived intangible impairments were indicated in fiscal 2025, 2024, or 2023.
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Investments in Affiliates |
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| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments in Affiliates | Investments in Affiliates Ownership: As of October 26, 2025, the Company's equity method investments include:
Equity in Earnings: The Company's share of earnings from its equity method investments is presented in the Consolidated Statements of Operations as Equity in Earnings of Affiliates and further disclosed in Note Q - Segment Reporting. Equity in earnings from corporate venturing investments is not included in any of the reportable segments' measure of segment profit. Distributions: Distributions received from equity method investees consists of:
Basis Difference: The initial and unamortized basis differences as of October 26, 2025, are:
(1) The Garudafood remaining unamortized basis difference balance includes the impact of foreign currency translation and impairment. Fair Value: Based on quoted market prices, the fair value of the common stock held in Garudafood was $243.9 million as of October 24, 2025. The Company's other equity method investments do not have readily determinable fair values. Impairment Charges: Based on an assessment in the fourth quarter of fiscal 2025 and in connection with the preparation of the Company's consolidated financial statements, the Company initiated an impairment review of its investment in Garudafood and concluded that the decline in fair value was no longer believed to be temporary. While the investment has provided positive equity in earnings and the Company continues to consider Garudafood a long-term strategic partner, performance has lagged original expectations and the business has experienced a sustained decline in market price. As a result, the Company recorded a $163.7 million impairment charge to reduce the carrying amount to estimated fair value. Fair value was determined using Garudafood's unadjusted quoted market price, a Level 1 input. The impairment charge is reflected in Equity in Earnings of Affiliates within the International segment. The remaining carrying value of the Garudafood investment is $247.1 million. In fiscal 2023, the Company recorded a $7.0 million impairment charge related to a corporate venturing investment to recognize a decline in fair value not believed to be temporary. The impairment charge is reflected in Equity in Earnings of Affiliates. The Company determined that no other-than-temporary impairment existed for its other equity method investments as of October 26, 2025.
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Inventories |
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| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventories | Inventories Principal components of inventories are:
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Property, Plant, and Equipment |
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| Property, Plant, and Equipment | Property, Plant, and Equipment Property, plant, and equipment consists of the following:
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Derivatives and Hedging |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives and Hedging | Derivatives and Hedging The Company uses hedging programs to manage risk associated with various commodity purchases and interest rates. These programs utilize futures, swaps, and options contracts to manage the Company’s exposure to market fluctuations. Cash Flow Commodity Hedges: The Company uses futures, swaps, and options contracts to offset price fluctuations in the Company’s future purchases of grain, lean hogs, natural gas, and diesel fuel. These contracts are designated as cash flow hedges; therefore, the related gains or losses are reported in Accumulated Other Comprehensive Loss (AOCL) and reclassified into earnings, through Cost of Products Sold, in the periods in which the hedged transactions affect earnings. The Company typically does not hedge its grain, natural gas, or diesel fuel exposure beyond fiscal years and its lean hog exposure beyond fiscal year. Fair Value Commodity Hedges: The Company designates the futures it uses to minimize the price risk assumed when fixed forward priced contracts are offered to the Company’s lean hog and grain suppliers as fair value hedges. The programs are intended to make the forward priced commodities cost nearly the same as cash market purchases at the date of delivery. Changes in the fair value of the futures contracts and the offsetting gain or loss on the hedged purchase commitment are marked-to-market through earnings and recorded as a Current Asset and Current Liability, respectively. Gains or losses related to these fair value hedges are recognized through Cost of Products Sold in the periods in which the hedged transactions affect earnings. Cash Flow Interest Rate Hedges: In the second quarter of fiscal 2021, the Company designated two separate interest rate locks as cash flow hedges to manage interest rate risk associated with anticipated debt transactions. The total notional amount of the Company’s locks was $1.25 billion. In the third quarter of fiscal 2021, the associated unsecured senior notes were issued with tenors of and 30 years and both locks were lifted (See Note M - Long-term Debt and Other Borrowing Arrangements). Mark-to-market gains and losses on these instruments were deferred as a component of AOCL. The resulting gain in AOCL is reclassified to Interest Expense in the period in which the hedged transactions affect earnings. Fair Value Interest Rate Hedge: In the first quarter of fiscal 2022, the Company entered into an interest rate swap to protect against changes in the fair value of a portion of previously issued senior unsecured notes attributable to the change in the benchmark interest rate. The hedge specifically designated the last $450 million of the $950 million aggregate principal amount of the Company's 0.650% notes due June 2024 (the 2024 Notes). The Company terminated the swap in the fourth quarter of fiscal 2022. The loss related to the swap was recorded as a fair value hedging adjustment to the hedged debt and amortized through Interest Expense over the remaining life of the debt. In the third quarter of fiscal 2024, the fair value hedging adjustment was completely amortized to correspond with the payment of the 2024 Notes upon maturity. Other Derivatives: The Company holds certain futures and swap contracts to manage the Company’s exposure to fluctuations in grain and pork commodity markets for which it has not applied hedge accounting. Activity related to derivatives not designated for hedge accounting was immaterial to the consolidated financial statements during fiscal 2025, 2024, and 2023. Volume: The Company’s outstanding contracts related to its commodity hedging programs include:
Fair Value of Derivatives: The gross fair values of the Company’s derivative instruments designated as hedges are:
(1) Per the terms of the Company's master netting arrangements, the gross fair value of the Company's commodity contracts was offset by the right to reclaim net cash collateral of $4.5 million (including cash payable of $5.5 million and $10.1 million of realized gain) as of October 26, 2025, and the right to reclaim net cash collateral of $10.9 million (including cash receivable of $26.5 million and $15.6 million of realized loss) as of October 27, 2024. Fair Value Hedge - Assets (Liabilities): The carrying amount of the Company’s fair value hedged assets (liabilities) are:
(1) Represents the carrying amount of fair value hedged assets and liabilities, which are offset by other assets included in master netting arrangements described above. Accumulated Other Comprehensive Loss Impact: As of October 26, 2025, the Company included in AOCL pre-tax hedging gains of $5.4 million on commodity contracts and gains of $10.5 million related to interest rate settled positions. The Company expects to recognize the majority of the gains on commodity contracts over the next twelve months. Gains on interest rate contracts offset the hedged interest payments over the tenor of the associated debt instruments. The pre-tax gains (losses) recognized in AOCL related to the Company’s derivative instruments are:
(1) Represents the time value of commodity options excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in AOCL. The pre-tax gains (losses) reclassified from AOCL into earnings related to the Company’s derivative instruments are:
See Note I - Accumulated Other Comprehensive Loss for the after-tax impact of these gains or losses on Net Earnings. Consolidated Statements of Operations Impact: The effect on the Consolidated Statements of Operations for pre-tax gains (losses) related to the Company’s derivative instruments are:
(1) Represents gains or losses on commodity contracts designated as fair value hedges that were closed during the year, which were offset by a corresponding gain or loss on the underlying hedged purchase commitment. Additional gains or losses related to changes in the fair value of open commodity contracts, along with the offsetting gain or loss on the hedged purchase commitment, are also marked-to-market through earnings with no impact on a net basis. (2) Represents the fair value hedging adjustment amortized through earnings.
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Pension and Other Postretirement Benefits |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits The Company maintains several defined benefit pension plans for eligible employees. Benefits under defined benefit pension plans for certain bargaining unit employees are based on stated amounts for each year of service. For certain non-bargaining unit hourly and salaried employees, defined benefit plan provisions are determined using one of the following approaches: (i) a formula based on final average compensation, age, and years of service; (ii) a cash balance plan design; or (iii) a combination of both. The Company sponsors several defined contribution benefit plans for eligible employees. Total costs associated with the Company’s defined contribution benefit plans in fiscal 2025, 2024, and 2023 were $42.7 million, $42.5 million, and $41.0 million, respectively. Certain groups of employees are eligible for postretirement health or welfare benefits. Benefits for retired employees vary for each group depending on respective retirement dates and applicable plan coverage in effect. Contribution requirements for retired employees are governed by the Company's Retiree Health Care Payment Program and may change each year as the cost to provide coverage is determined. Net periodic cost of defined benefit plans included the following for fiscal years ending:
(1) As part of the corporate restructuring plan, the Company approved a voluntary early retirement program for eligible participants of the non-bargaining unit pension plan. The program included a one-time benefit enhancement based upon years of service, subject to minimum and maximum limits. Actuarial gains and losses and any adjustments resulting from plan amendments are deferred and amortized over periods ranging from 8.3 to 10.9 years for pension benefits and from 12.2 to 12.8 years for postretirement benefits. The following amounts have not been recognized in net periodic pension cost and are included in Accumulated Other Comprehensive Loss:
The following is a reconciliation of the beginning and ending balances of the benefit obligation, fair value of plan assets, and funded status of the plans as of the measurement dates:
(1) Actuarial losses in fiscal 2024 were primarily due to the change in the discount rate assumptions utilized in measuring plan obligations.
Amounts recognized on the Consolidated Statements of Financial Position are as follows:
The accumulated benefit obligation for all pension plans was $1.4 billion as of October 26, 2025, and $1.3 billion as of October 27, 2024. The following table provides information for pension plans with projected and accumulated benefit obligations in excess of plan assets:
Weighted-average assumptions used to determine benefit obligations are as follows:
Weighted-average assumptions used to determine net periodic benefit costs are as follows:
The expected long-term rate of return on plan assets is based on fair value and developed in consultation with outside advisors. A range is determined based on the composition of the asset portfolio, historical long-term rates of return, and estimates of future performance. The interest crediting rate is determined annually based on the U.S. 30-year Treasury rate with a floor of 2.65 percent. For measurement purposes, an 8 percent annual rate of increase in the per capita cost of covered health care benefits for pre-Medicare and post-Medicare retirees’ coverage is assumed for 2026. The pre-Medicare and post-Medicare rate is assumed to decrease to 5 percent for 2031 and remain steady thereafter. The Company’s funding policy is to make annual contributions of not less than the minimum required by applicable regulations. The Company expects to make contributions of $30.2 million during fiscal 2026, which represent benefit payments for unfunded plans. Benefits expected to be paid over the next ten fiscal years are as follows:
Plan assets for certain defined benefit pension plans are held in the Hormel Foods Corporation Master Trust (Master Trust). The investment strategy for the Master Trust attempts to minimize the long-term cost of pension benefits, reduce the volatility of pension expense, and achieve a healthy funded status for the plans. The Company establishes target allocations in consultation with outside advisors through the use of asset-liability modeling in an effort to match the duration of the plan assets with the duration of the Company’s projected benefit liability. The actual and target weighted-average asset allocations for the Company’s pension plan assets as of the plan measurement date are as follows:
(1) Fixed Income asset category was replaced by Long Duration Fixed Income and Investment Grade Bonds in fiscal 2025. The following tables show the categories of defined benefit pension plan assets and the level under which fair values were determined pursuant to the provisions of ASC 820. Assets measured at fair value using the NAV per share practical expedient are not required to be classified in the fair value hierarchy. These amounts are provided to permit reconciliation to the total fair value of plan assets.
The following is a description of the valuation methodologies used for instruments measured at fair value, including the general classification of such instruments: Cash Equivalents: These Level 1 and Level 2 investments consist primarily of cash and highly liquid money market mutual funds traded in active markets in addition to highly liquid futures and T-bills with an observable daily settlement price. Private Equity: These Level 3 investments consist of various collective investment funds, which are managed by a third party, invested in a well-diversified portfolio of equity investments from top performing, high quality firms focused on U.S. and foreign small to mid-markets, venture capitalists, and entrepreneurs with a concentration in areas of innovation. Investment strategies include buyouts, growth capital, buildups, and distressed, as well as early stages of company development mainly in the U.S. The fair value of these funds is based on the fair value of the underlying investments. Real Estate Funds: These Level 3 investments include ownership in closed-ended real estate funds targeting value added real estate opportunities. These funds manage diversified portfolios of commercial properties with broad sector exposure. Investment strategies aim to acquire, hold, or dispose of investments with the goal of achieving current and/or capital appreciation. These funds have a predetermined life and are illiquid investments. Fixed Income: The Level 1 investments include U.S. Treasury bonds and notes, which are valued at the closing price reported on the active market in which the individual securities are traded. The Level 2 investments consist principally of U.S. government securities, which are valued daily using institutional bond quote sources and mortgage-backed securities pricing sources, and municipal, domestic, and foreign securities, which are valued daily using institutional bond quote sources. Global Stocks – Mutual Funds: These investments include holdings of mutual funds that are SEC-registered open-end investment companies that pool money from many investors and invests the money in stocks, bonds, short-term money-market instruments, other securities or assets, or some combination of these investments. These securities are traded through fund managers or brokerage firms with a NAV calculated daily after market close. Real Estate – Domestic: These investments include ownership in open-ended real estate funds, which manage diversified portfolios of commercial properties within the office, residential, retail, and industrial property sectors. Investment strategies aim to acquire, own, hold, or dispose of investments with the goal of achieving current income and/or capital appreciation. The real estate investments are valued at the NAV of shares held by the Master Trust. Requests to redeem shares are granted on a quarterly basis with either 45 or 90 days advance notice, subject to availability of cash. Global Stocks – Collective Investment Funds: These investments include commingled funds consisting of a mix of U.S. common stocks and foreign common stocks. The collective investment funds are valued at the NAV of shares held by the Master Trust. The investment strategy is to obtain long-term capital appreciation by focusing on companies generating above average earnings growth and are leading growth businesses in the marketplace. All funds are daily liquid with the exception of one that is available on the first business day of the month for subscriptions and withdrawals. Global Stocks – Gold: This investment is a limited partnership consisting of physical gold, global mining industry common stocks, and to a limited extent, other precious metals. The limited partnership is valued at the NAV of shares held by the Master Trust. This fund allows for weekly subscriptions and monthly redemptions. Hedge Funds: These investments are designed to provide diversification to an overall institutional portfolio and, in particular, provide protection against equity market downturns. They are comprised of Commodity Trading Advisor Managed Futures, Global Macro (Discretionary and/or Quant) and Long Volatility/Tail Risk Hedging strategies. The hedge funds are valued at the NAV of shares held by the Master Trust. Requests to redeem shares are granted daily, monthly, or quarterly. Fixed Income – Hedge Funds: These investments target absolute, risk-adjusted returns by taking advantage of price dislocations and inconsistencies within credit markets. Funds are comprised primarily of U.S. and European corporate credit and structured credit. The investments are valued at the NAV of shares held by the Master Trust. Requests to redeem shares are granted on a quarterly basis on the three-year fund anniversary with a ninety-day notice period. Fixed Income – Collective Investment Funds: These investments include commingled funds consisting of a mix of U.S. government and investment grade corporate bonds. The collective investment funds are valued at NAV of the shares held by the Master Trust. The investment strategy is to achieve an investment return that approximates as closely to the Bloomberg Barclays U.S. Aggregate Bond Index over the long-term by investing in the securities that comprise the benchmark. There are no restrictions on redemptions. A reconciliation of the beginning and ending balance of the investments measured at fair value using significant unobservable inputs (Level 3) is as follows:
During fiscal 2025, the value of the Level 3 investments ranged from $82.3 million to $91.8 million, with an average value of $87.4 million. The Company has commitments totaling $200.3 million for the investments within the pension plans. Funding for future capital calls will come from existing pension plan assets and not from additional cash contributions by the Company. The unfunded commitment balance for each investment category is as follows:
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Accumulated Other Comprehensive Loss |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss Components of Accumulated Other Comprehensive Loss are as follows:
(1) Included in computation of net periodic cost. See Note H - Pension and Other Postretirement Benefits for additional information. (2) Included in Cost of Products Sold and Interest Expense. See Note G - Derivatives and Hedging for additional information. (3) Included in Equity in Earnings of Affiliates.
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Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | Fair Value Measurements The Company’s financial assets and liabilities carried at fair value on a recurring basis and their level within the fair value hierarchy are presented in the tables below. See additional discussion of fair value measurements in Note A - Summary of Significant Accounting Policies.
The following methods and assumptions were used to estimate the fair value of the financial assets and liabilities above: Short-term Marketable Securities: The Company holds securities as part of a portfolio maintained to generate investment income and to provide cash for operations of the Company, if necessary. The portfolio is managed by a third party who is responsible for daily trading activities, and all assets within the portfolio are highly liquid. The cash, U.S. government securities, and money market funds held by the portfolio are classified as Level 1. The current investment portfolio also includes corporate bonds and other asset-backed securities for which there is an active, quoted market. Market prices are obtained from a variety of industry providers, large financial institutions, and other third-party sources to calculate a representative daily market value, and therefore, these securities are classified as Level 2. Deferred Compensation and Other Trading Securities: The Company maintains a rabbi trust to fund certain supplemental executive retirement plans and deferred compensation plans. These funds are maintained under a third-party insurance policy, and the funds' values represent their cash surrender value based on the fair value of the underlying investments in the account. These policies are classified as Level 2. The majority of the funds held in the rabbi trust relate to supplemental executive retirement plans and are invested in fixed income investments. The declared rate on these investments is set based on a formula using the yield of the general account investment portfolio supporting the fund, as adjusted for expenses and other charges. The rate is guaranteed for one year at issue and may be reset annually on the policy anniversary, subject to a guaranteed minimum rate. Investments held by the rabbi trust generated gains (losses) of $12.8 million, $21.6 million, and $3.2 million for fiscal 2025, 2024, and 2023, respectively. Under the Company’s deferred compensation plans, participants can defer certain types of compensation and elect to receive a return based on the changes in fair value of various investment options, which include equity securities, money market accounts, bond funds, or other portfolios for which there is an active quoted market. The Company also offers a fixed rate investment option to participants. The rate earned on these investments is adjusted annually based on a specified percent of the U.S. Internal Revenue Service (IRS) applicable federal rates. These liabilities are classified as Level 2. The Company's funding in the rabbi trust related to deferred compensation plans generally mirrors the investment selections within the plans. Commodity Derivatives: The Company’s commodity derivatives represent futures, swaps, and options contracts used in its hedging or other programs to offset price fluctuations associated with purchases of grain, natural gas, diesel fuel, lean hogs, and pork, and to minimize the price risk assumed when forward-priced contracts are offered to the Company’s commodity suppliers. The Company’s futures and options contracts for corn are traded on the Chicago Board of Trade, while futures contracts for lean hogs are traded on the Chicago Mercantile Exchange. These are active markets with quoted prices available, and these contracts are classified as Level 1. The Company holds natural gas, diesel fuel, and pork swap contracts that are over-the-counter instruments classified as Level 2. The value of the natural gas and diesel fuel swap contracts is calculated using quoted prices from the New York Mercantile Exchange, and the value of the pork swap contracts are calculated using a futures implied U.S. Department of Agriculture estimated pork cut-out value. All derivatives are reviewed for potential credit risk and risk of nonperformance. The Company’s financial assets and liabilities also include cash and cash equivalents, accounts receivable, accounts payable, and other liabilities, for which carrying value approximates fair value due to their short-term maturities. The Company does not carry its long-term debt at fair value on the Consolidated Statements of Financial Position. The fair value of long-term debt, utilizing discounted cash flows (Level 2), was $2.6 billion as of October 26, 2025, and $2.5 billion as of October 27, 2024. See Note M - Long-term Debt and Other Borrowing Arrangements for additional information. Nonrecurring Fair Value Measurements: The Company may be required to measure certain nonfinancial assets and liabilities including goodwill, intangible assets, equity method investments, and property, plant, and equipment at fair value on a nonrecurring basis. During fiscal 2025, the Company recorded a $163.7 million impairment charge on an equity method investment. Fair value was determined using the unadjusted quoted market price, a Level 1 input. During fiscal 2023, the Company recognized a $7.0 million impairment charge on a corporate venturing investment, which reduced the investment's carrying value to zero. During fiscal 2025 and 2023, the Company recorded $61.9 million and $28.4 million, respectively, in impairment charges on indefinite-lived intangible assets. Fair value was determined using the relief-from-royalty method, which incorporates unobservable Level 3 inputs such as future sales projections, royalty rates, and discount rates. Additionally in fiscal 2025, the Company also recorded an $8.8 million impairment charge on a definite-lived intangible asset, which reduced the asset’s carrying value to zero. There were no other material remeasurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition during fiscal 2025, 2024, and 2023. See additional discussion in Note C - Goodwill and Intangible Assets and Note D - Investments in Affiliates.
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Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | Commitments and Contingencies Purchase Commitments: To ensure a steady supply of hogs and turkeys and keep the cost of products stable, the Company has entered into contracts with producers for the purchase of hogs and turkeys at formula-based prices over periods up to 10 years and seven years, respectively. The Company has also entered into grow-out contracts with independent farmers to raise turkeys for the Company for periods up to 24 years. Under these arrangements, the Company owns the livestock, feed, and other supplies while the independent farmers provide facilities and labor. In addition, the Company has contracted for the purchase of corn, soybean meal, feed ingredients, and other raw materials from independent suppliers for periods up to two years. As of October 26, 2025, the Company is committed to make purchases under these contracts, assuming current price levels, for future fiscal years as follows:
Purchases under these contracts for fiscal 2025, 2024, and 2023 were $1.3 billion, $1.3 billion, and $1.4 billion, respectively. Other Commitments and Guarantees: The Company has commitments of approximately $18.0 million related to infrastructure improvements supporting various manufacturing facilities and $4.7 million for a media advertising agreement as of October 26, 2025. The Company has future commitments totaling $28.7 million for a corporate aircraft to be delivered in mid-2027. Subsequent to the end of the fiscal year, the Company entered into a 20-year infrastructure improvement agreement for $38.1 million. As of October 26, 2025, the Company has $47.6 million of standby letters of credit issued on its behalf. The standby letters of credit are primarily related to the Company’s self-insured workers' compensation programs. This amount includes revocable standby letters of credit totaling $3.4 million for obligations of an affiliated party that may arise under workers' compensation claims. Letters of credit are not reflected on the Consolidated Statements of Financial Position. Legal Proceedings: The Company is a party to various legal proceedings related to the ongoing operation of its business, including claims both by and against the Company. At any time, such proceedings typically involve claims related to product liability, labeling, contracts, antitrust regulations, intellectual property, competition laws, employment practices, or other actions brought by employees, customers, consumers, competitors, regulators, or suppliers. The Company establishes accruals for its potential exposure, as appropriate, for claims against the Company when losses become probable and reasonably estimable. However, future developments or settlements are uncertain and may require the Company to change such accruals as proceedings progress. Resolution of any currently known matter, either individually or in the aggregate, is not expected to have a material effect on the Company’s financial condition, results of operations, or liquidity. Pork Antitrust Litigation Beginning in June 2018, a series of class action complaints were filed against the Company, as well as several other pork-processing companies and a benchmarking service called Agri Stats, in the U.S. District Court for the District of Minnesota styled In re Pork Antitrust Litigation (the Pork Antitrust Litigation). The Class Plaintiffs alleged, among other things, that beginning in January 2009, the defendants conspired and combined to fix, raise, maintain, and stabilize the price of pork and pork products—including through the use of Agri Stats—in violation of federal antitrust laws. Since the original filing, certain plaintiffs opted out of class treatment and began proceeding with individual direct actions making similar claims (Non-Class Direct-Action Plaintiffs), including claims of violations of state antitrust laws. The plaintiffs seek treble damages, injunctive relief, pre- and post-judgment interest, costs, and attorneys’ fees. Although the Company strongly denies liability, continues to deny the allegations asserted, and believes it has valid defenses, to avoid the uncertainty, risk, expense, and distraction of continued litigation, the Company executed settlement agreements providing for payments by the Company to the Class Plaintiffs and one Non-Class Direct-Action Plaintiff. For the Class Plaintiffs, the total settlement amount of $11.8 million was recorded as Accrued Expenses in the second quarter of fiscal 2024 and was paid during the second half of fiscal 2024. For the one Non-Class Direct-Action Plaintiff, the settlement amount of $0.2 million was recorded as Accrued Expenses in the first quarter of fiscal 2025 and was paid in the second quarter of fiscal 2025. All settlement amounts were recorded in Selling, General, and Administrative. In the second quarter of fiscal 2025, the U.S. District Court for the District of Minnesota (Court) granted the Company’s Motion for Summary Judgment and dismissed the Company from the federal litigation. Certain defendants have challenged the Court's summary judgment decision. The Company continues to defend against state claims brought by one Non-Class Direct Action Plaintiff. The Company has not recorded any liability for this matter as it does not believe a loss is probable. The Company cannot reasonably estimate any reasonably possible loss. The Company believes that it has valid and meritorious defenses against the allegations. Turkey Antitrust Litigation Beginning in December 2019, a series of class action complaints were filed against the Company, as well as several other turkey-processing companies and a benchmarking service called Agri Stats, in the U.S. District Court for the Northern District of Illinois styled In re Turkey Antitrust Litigation. The plaintiffs allege, among other things, that from at least 2010 to 2017, the defendants conspired and combined to fix, raise, maintain, and stabilize the price of turkey products—including through the use of Agri Stats—in violation of federal antitrust laws. The complaints on behalf of the classes of indirect purchasers also include causes of action under various state unfair competition laws, consumer protection laws, and unjust enrichment common laws. The plaintiffs seek treble damages, injunctive relief, pre- and post-judgment interest, costs, and attorneys’ fees. Since the original filing, certain direct-action plaintiffs have opted out of class treatment and are proceeding with individual direct actions making similar claims, and others may do so in the future. The defendants' motions for summary judgment are due in January 2026. The Company has not recorded any liability for these matters as it does not believe a loss is probable. The Company cannot reasonably estimate any reasonably possible loss. The Company believes that it has valid and meritorious defenses against the allegations. Poultry Wages Antitrust Litigation In December 2019, a putative class of non-supervisory production and maintenance employees at poultry-processing plants in the continental U.S. filed an amended consolidated class action complaint against Jennie-O Turkey Store, Inc. and various other poultry processing companies in the U.S. District Court for the District of Maryland styled Jien, et al. v. Perdue Farms, Inc., et al. (the Poultry Wages Antitrust Litigation). In the operative amended complaint filed in February 2022, the plaintiffs alleged that, since 2000, the defendants directly and through wage surveys and a benchmarking service exchanged information regarding compensation in an effort to depress and fix wages and benefits for employees at poultry-processing plants, feed mills, and hatcheries in violation of federal antitrust laws. The complaint sought, among other things, treble monetary damages, punitive damages, restitution, and pre- and post-judgment interest, as well as declaratory and injunctive relief. In July 2022, the Court partially granted the Company’s motion to dismiss and dismissed plaintiffs’ per se wage-fixing claim as to the Company. Although the Company strongly denies liability, continues to deny the allegations asserted by the plaintiffs, and believes it has valid defenses, to avoid the uncertainty, risk, expense, and distraction of continued litigation, the Company executed a settlement agreement with the plaintiffs on August 20, 2024, to settle this matter for the payment of $3.5 million. The Company recorded the agreed-upon settlement amount as Accrued Expenses and in Selling, General, and Administrative during the third quarter of fiscal 2024. The Company paid the settlement in the second quarter of fiscal 2025. Red Meat Wages Antitrust Litigation In November 2022, a putative class of non-supervisory production and maintenance employees at “red meat” processing plants in the continental U.S. filed a class action complaint against the Company and various other beef- and pork-processing companies in the U.S. District Court for the District of Colorado styled Brown, et al. v. JBS USA Food Co., et al. (the Red Meat Wages Antitrust Litigation). In the operative amended complaint filed in January 2024, the plaintiffs alleged that, since 2000, the defendants directly and through wage surveys and a benchmarking service exchanged information regarding compensation in an effort to depress and fix wages and benefits for employees at beef- and pork-processing plants in violation of federal antitrust laws. The complaint sought, among other things, treble monetary damages, punitive damages, restitution, and pre- and post-judgment interest, as well as declaratory and injunctive relief. Although the Company strongly denies liability, continues to deny the allegations asserted by the plaintiffs, and believes it has valid defenses, to avoid the uncertainty, risk, expense, and distraction of continued litigation, the Company executed a settlement agreement with the plaintiffs on August 20, 2024, agreeing to pay $13.5 million and provide certain data and information. The Company recorded the agreed-upon settlement amount as Accrued Expenses and in Selling, General, and Administrative during the third quarter of fiscal 2024. The settlement has been approved by the Court and was paid in the second quarter of fiscal 2025. Settlement Proceeds The Company recorded a gain of $11.0 million in Selling, General, and Administrative during the fourth quarter of fiscal 2025 in connection with the settlement of a legal matter. Tax Proceedings: Two current Company subsidiaries organized in Brazil, Clean Field Comércio de Produtos de Alimentícios LTDA and Omamori Indústria de Alimentos LTDA, along with a former subsidiary, Talis Distribuidora de Alimentos LTDA, which are reported in the International segment, have received tax deficiency notices from the State of São Paulo Tax Authority Office alleging underpayment of ICMS and ICMS-ST taxes, which are similar to value added taxes, for multiple tax years. The subsidiaries have filed objections to appeal these notices, and the proceedings are in various stages of the administrative review process. Any adverse outcomes at the administrative level are expected to be eligible for further appeal through judicial processes. The Company has not recorded any liability relating to these assessments and cannot reasonably estimate any reasonably possible loss at this time.
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Leases |
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases The Company has operating leases for warehouses, manufacturing facilities, office space, transportation equipment, as well as miscellaneous real estate and equipment contracts. Finance leases primarily include turkey growing facilities and an aircraft. The Company’s lessor portfolio consists primarily of immaterial operating leases of farmland to third parties. Lease information included on the Consolidated Statements of Financial Position are:
Lease expenses are:
(1) Includes short-term lease costs, which are immaterial. (2) ASC 842 - Leases requires disclosure of payments related to agreements with an embedded lease that are not otherwise reflected on the Consolidated Statements of Financial Position. The Company’s variable lease costs primarily include inventory-related expenses, such as materials, labor, and overhead from manufacturing and service agreements that contain embedded leases. Variability of these costs is determined based on usage or output and may vary for other reasons such as changes in material prices. The weighted-average remaining lease term and discount rate for lease liabilities included on the Consolidated Statements of Financial Position are:
Supplemental cash flow and other information related to leases for the fiscal year ended are:
The maturity of the Company’s lease liabilities as of October 26, 2025, are:
(1) Over the life of the lease contracts, finance lease payments include $3.8 million related to purchase options which are reasonably certain of being exercised. (2) Lease payments exclude $6.3 million of legally binding minimum lease payments for leases signed but not yet commenced as of October 26, 2025.
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| Leases | Leases The Company has operating leases for warehouses, manufacturing facilities, office space, transportation equipment, as well as miscellaneous real estate and equipment contracts. Finance leases primarily include turkey growing facilities and an aircraft. The Company’s lessor portfolio consists primarily of immaterial operating leases of farmland to third parties. Lease information included on the Consolidated Statements of Financial Position are:
Lease expenses are:
(1) Includes short-term lease costs, which are immaterial. (2) ASC 842 - Leases requires disclosure of payments related to agreements with an embedded lease that are not otherwise reflected on the Consolidated Statements of Financial Position. The Company’s variable lease costs primarily include inventory-related expenses, such as materials, labor, and overhead from manufacturing and service agreements that contain embedded leases. Variability of these costs is determined based on usage or output and may vary for other reasons such as changes in material prices. The weighted-average remaining lease term and discount rate for lease liabilities included on the Consolidated Statements of Financial Position are:
Supplemental cash flow and other information related to leases for the fiscal year ended are:
The maturity of the Company’s lease liabilities as of October 26, 2025, are:
(1) Over the life of the lease contracts, finance lease payments include $3.8 million related to purchase options which are reasonably certain of being exercised. (2) Lease payments exclude $6.3 million of legally binding minimum lease payments for leases signed but not yet commenced as of October 26, 2025.
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| Leases | Leases The Company has operating leases for warehouses, manufacturing facilities, office space, transportation equipment, as well as miscellaneous real estate and equipment contracts. Finance leases primarily include turkey growing facilities and an aircraft. The Company’s lessor portfolio consists primarily of immaterial operating leases of farmland to third parties. Lease information included on the Consolidated Statements of Financial Position are:
Lease expenses are:
(1) Includes short-term lease costs, which are immaterial. (2) ASC 842 - Leases requires disclosure of payments related to agreements with an embedded lease that are not otherwise reflected on the Consolidated Statements of Financial Position. The Company’s variable lease costs primarily include inventory-related expenses, such as materials, labor, and overhead from manufacturing and service agreements that contain embedded leases. Variability of these costs is determined based on usage or output and may vary for other reasons such as changes in material prices. The weighted-average remaining lease term and discount rate for lease liabilities included on the Consolidated Statements of Financial Position are:
Supplemental cash flow and other information related to leases for the fiscal year ended are:
The maturity of the Company’s lease liabilities as of October 26, 2025, are:
(1) Over the life of the lease contracts, finance lease payments include $3.8 million related to purchase options which are reasonably certain of being exercised. (2) Lease payments exclude $6.3 million of legally binding minimum lease payments for leases signed but not yet commenced as of October 26, 2025.
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Long-term Debt and Other Borrowing Arrangements |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term Debt and Other Borrowing Arrangements | Long-term Debt and Other Borrowing Arrangements Long-term Debt consists of:
Senior Unsecured Notes: On March 8, 2024, the Company issued senior notes in an aggregate principal amount of $500.0 million due March 2027. The notes bear interest at a fixed rate of 4.800% per annum. Interest accrues on the notes from March 8, 2024, and is payable semi-annually in arrears on March 30 and September 30 of each year, commencing September 30, 2024. The notes may be redeemed in whole or in part at any time at the applicable redemption prices. If a change of control triggering event occurs, the Company must offer to purchase the notes at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. On June 3, 2021, the Company issued $750.0 million aggregate principal amount of its 1.700% notes due June 2028 (2028 Notes) and $600.0 million aggregate principal amount of its 3.050% notes due June 2051 (2051 Notes). The notes may be redeemed in whole or in part at any time at the applicable redemption price. Interest accrues per annum at the stated rates and is paid semi-annually in arrears on June 3 and December 3 of each year, commencing December 3, 2021. Interest rate risk was hedged utilizing interest rate locks on the 2028 Notes and 2051 Notes. The Company lifted the hedges in conjunction with the issuance of these notes. See Note G - Derivatives and Hedging for additional information. If a change of control triggering event occurs, the Company must offer to purchase the notes at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. On June 11, 2020, the Company issued senior notes in an aggregate principal amount of $1.0 billion due June 2030. The notes bear interest at a fixed rate of 1.800% per annum, with interest paid semi-annually in arrears on June 11 and December 11 of each year, commencing December 11, 2020. The notes may be redeemed in whole or in part at any time at the applicable redemption prices. If a change of control triggering event occurs, the Company must offer to purchase the notes at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. Unsecured Revolving Credit Facility: On March 25, 2025, the Company entered into an unsecured revolving credit agreement with Wells Fargo Bank, National Association, as administrative agent, swing line lender and issuing lender, U.S. Bank National Association, JPMorgan Chase Bank, N.A., and BofA Securities, Inc., as syndication agents, and the lenders party thereto. The revolving credit agreement provides for an unsecured revolving credit facility with an aggregate principal commitment amount at any time outstanding of up to $750.0 million with an uncommitted increase option of an additional $375.0 million upon the satisfaction of certain conditions. Interest on funds borrowed under the revolving credit agreement will be charged, depending on the applicable currency, at either a risk-free rate, as defined in the revolving credit agreement (with borrowings in U.S. dollars at the Term Secured Overnight Financing Rate) or a Eurocurrency rate for certain foreign currencies or a base rate with respect to U.S. dollars to be selected by the Company at the time of borrowing plus an applicable margin of 0.575% to 1.160% for Eurocurrency rate loans and 0.0% to 0.160% for base rate loans, depending on the Company’s debt rating issued by S&P and Moody’s. A variable fee of 0.050% to 0.090% is paid for the availability of this credit line. Extensions of credit under the facility may be made in the form of revolving loans, swing line loans, and letters of credit. The lending commitments under the agreement are scheduled to expire on March 25, 2030, at which time the Company will be required to pay in full all obligations then outstanding. Concurrent with entering into this revolving credit agreement, the Company terminated its existing $750.0 million revolving credit facility that was entered into on May 6, 2021. The Company had no outstanding borrowings from either facility as of October 26, 2025, and October 27, 2024. Debt Covenants: The Company is required by certain covenants in its debt agreements to maintain specified levels of financial ratios and financial position, including maintaining a minimum interest coverage ratio. As of October 26, 2025, the Company was in compliance with all covenants. Interest Payments: Total interest paid on debt and other borrowings in the last three fiscal years is as follows:
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Stock-based Compensation |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based Compensation | Stock-based Compensation The Company issues stock options, restricted stock units, restricted shares, and deferred stock units as part of its stock incentive plans for employees and nonemployee directors. Stock-based compensation expense for fiscal 2025, 2024, and 2023, was $25.6 million, $23.2 million, and $24.1 million, respectively. As of October 26, 2025, there was $23.2 million of total unrecognized compensation expense from stock-based compensation arrangements granted under the plans. This compensation is expected to be recognized over a weighted-average period of approximately 1.6 years. During fiscal 2025, 2024, and 2023, cash received from stock option exercises was $22.1 million, $40.7 million, and $12.0 million, respectively. Shares issued for option exercises, restricted stock units, restricted shares, and deferred stock units may be either authorized but unissued shares or shares of treasury stock. The number of shares available for future grants was 5.3 million at October 26, 2025, 8.2 million at October 27, 2024, and 10.1 million at October 29, 2023. Stock Options: The Company’s policy is to grant options with the exercise price equal to the market price of the common stock on the date of grant. Options typically vest over four years and expire ten years after the date of the grant. A reconciliation of the number of options outstanding and exercisable as of October 26, 2025, is:
The weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised are:
The fair value of each option award is calculated on the date of grant using the Black-Scholes valuation model utilizing the following weighted-average assumptions:
As part of the annual valuation process, the Company reassesses the appropriateness of the inputs used in the valuation models. The Company establishes the risk-free interest rate using U.S. Treasury yields as of the grant date. The dividend yield is based on the dividend rate approved by the Company’s Board of Directors and the stock price on the grant date. The expected volatility assumption is based on historical volatility. The expected life assumption is based on an analysis of past exercise behavior by option holders. In performing the valuations for option grants, the Company has not stratified option holders as exercise behavior has historically been consistent across all employees. Restricted Stock Units: Restricted stock units are valued equal to the market price of the common stock on the date of the grant and generally vest after three years. These awards accumulate dividend equivalents, which are provided as additional units and are subject to the same vesting requirements as the underlying grant. A reconciliation of the restricted stock units as of October 26, 2025, is:
The weighted-average grant date fair value of restricted stock units granted, the total fair value of restricted stock units granted, and the fair value of restricted stock units that have vested are:
Restricted Shares: Restricted shares awarded to nonemployee directors annually on February 1 are subject to a restricted period which expires the date of the Company’s next annual stockholders' meeting. Newly elected directors receive a prorated award of restricted shares of the Company's common stock, which expires on the date of the Company's second succeeding annual stockholders' meeting. A reconciliation of the restricted shares as of October 26, 2025, is:
The weighted-average grant date fair value of restricted shares granted, the total fair value of restricted shares granted, and the fair value of shares that have vested are:
Deferred Stock Units: Nonemployee directors can elect to receive all or a portion of their annual cash retainer in the form of non-forfeitable deferred stock units which vest immediately. The deferred stock units accumulate dividend equivalents, which are provided as additional units. Each deferred stock unit represents the right to receive one share of the Company’s common stock following the completion of the director’s service. A reconciliation of the deferred stock units as of October 26, 2025, is:
The weighted-average grant date fair value of deferred stock units granted, the total fair value of deferred stock units granted, and the fair value of shares released are:
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Income Taxes |
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Income Taxes The components of the Provision for Income Taxes are as follows:
Deferred Income Taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the deferred income tax liabilities and assets are as follows:
Reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:
As of October 26, 2025, the Company had $335.7 million of undistributed earnings from non-U.S. subsidiaries. The Company maintains all earnings as permanently reinvested. Accordingly, no additional income taxes have been provided for withholding tax, state tax, or other taxes. Total income taxes paid during fiscal 2025, 2024, and 2023 were $183.5 million, $186.4 million, and $205.0 million, respectively. Fiscal 2025 and 2024 included amounts paid for the purchase of federal transferable energy credits. The changes in unrecognized tax benefits, excluding interest and penalties, for fiscal 2025 and 2024 are as follows:
Unrecognized tax benefits, if recognized as of October 26, 2025, would impact the Company’s effective tax rate by $16.0 million compared to $15.9 million as of October 27, 2024. The Company includes accrued interest and penalties related to uncertain tax positions in Provision for Income Taxes, with immaterial expenses included during fiscal 2025, 2024, and 2023. The amount of accrued interest and penalties, associated with unrecognized tax benefits was $2.6 million and $2.3 million at October 26, 2025, and October 27, 2024, respectively. Tax Examinations: The Company is regularly audited by federal, state, and foreign taxing authorities. The IRS concluded its examination of fiscal 2022 in the second quarter of fiscal 2024. The IRS placed the Company in the Bridge phase of the Compliance Assurance Process (CAP) for fiscal 2023 and 2024. In this phase, the IRS will not accept any disclosures, conduct any reviews, or provide any assurances. The Company has elected to participate in CAP through fiscal 2026. The objective of CAP is to contemporaneously work with the IRS to achieve federal tax compliance and resolve all or most of the issues prior to filing of the tax return. The Company may elect to continue participating in CAP for future tax years; the Company may withdraw from the program at any time. The Company is in various stages of audit by several state taxing authorities on a variety of fiscal years, as far back as 2019. While it is reasonably possible that one or more of these audits may be completed within the next 12 months and the related unrecognized tax benefits may change based on the status of the examinations, as of October 26, 2025, it was not possible to reasonably estimate the effect of any amount of such change to previously recorded uncertain tax positions. The Company is subject to various examinations by foreign tax authorities. With limited exceptions, the Company is no longer subject to foreign tax examinations for fiscal years prior to 2018. See Note K - Commitments and Contingencies for additional information. Tax Legislation: On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law. OBBBA includes income tax provisions such as a permanent extension of certain provisions of the Tax Cuts and Jobs Act, elective deductions for domestic research and development, reinstatement of 100% first-year bonus depreciation, and modifications to the international tax framework. The Company assessed the provisions of OBBBA and determined the changes were not material to the Company's tax provision for the year ended October 26, 2025, and does not expect a material impact on the Company's consolidated financial statements in future reporting periods. The Organization for Economic Cooperation and Development published a framework for Pillar Two of the Global Anti-Base Erosion Rules, which is designed to coordinate participating jurisdictions in updating the international tax system to ensure that large multinational companies pay a minimum tax of 15%. Many countries have enacted, or begun the process of enacting, laws based on the Pillar Two framework. The Company considered the applicable tax laws in relevant jurisdictions and concluded the impact of Pillar Two was not material to the Company's tax provision for the year ended October 26, 2025. The Company will continue to evaluate the impact of such legislative changes but does not expect the new tax laws to have a material impact on the Company’s consolidated financial statements in future reporting periods.
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Earnings Per Share Data |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share Data | Earnings Per Share Data The reported net earnings attributable to the Company were used when computing basic and diluted earnings per share. Diluted earnings per share was calculated using the treasury stock method. The shares used as the denominator for those computations are as follows:
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Segment Reporting |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting | Segment Reporting Segment Results: The Company develops, processes, and distributes a wide array of food products in a variety of markets. The Company reports its results in the following three segments: Retail, Foodservice, and International. The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in retail channels, including grocery stores, mass merchandisers, club stores, natural food chains, drug, dollar and discount chains, and e-commerce providers in the U.S. This segment also includes the results from the Company’s MegaMex Foods joint venture. The Foodservice segment consists primarily of the processing, marketing, and sale of food products to distributors and operators across a wide range of providers of food away from home, including restaurants, hospitality, healthcare, K-12, college and universities, and convenience stores in the U.S. The International segment processes, markets, and sells the Company's products through retail and foodservice channels internationally. This segment also includes the results from the Company’s international joint ventures, equity method investments, and royalty arrangements, as well as operations in China and Brazil. The results of each segment are regularly provided to the Company's Interim Chief Executive Officer, who is the chief operating decision maker (CODM). The CODM primarily uses net sales and segment profit to compare results to the prior year, annual operating plan, and periodic forecasts when evaluating segment performance and allocating resources. The accounting policies of the segments are generally the same as those presented in Note A - Summary of Significant Accounting Policies. Intersegment sales are eliminated in consolidation and are not reviewed when evaluating segment performance. Segment profit also excludes unallocated general corporate expenses, deferred compensation, non-recurring expenses associated with the Transform and Modernize initiative, corporate restructuring plan costs, and interest and other income and expense. Equity in Earnings of Affiliates is included in segment profit; however, earnings attributable to the Company’s corporate venturing investments and noncontrolling interests are excluded. Segment results, including the significant expense categories regularly provided to the CODM, are provided below. Certain portions of these expenses are retained at the corporate level and are presented in Net Unallocated Expense. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. The Company does not represent that these segments, if operated independently, would report the profit and other financial information shown.
The Company’s CODM reviews assets and capital expenditures at a consolidated level and does not use assets by segment to evaluate performance or allocate resources. Therefore, the Company does not disclose these measures by segment. Depreciation and amortization expense is included in the measure of segment profit and disclosed below.
Disaggregated Revenues: The Company’s products primarily consist of meat and other food products. Total revenue contributed by classes of similar products are:
Perishable includes fresh meats, frozen items, refrigerated meal solutions, bacon, sausages, hams, guacamole, and other items that require refrigeration. Shelf-stable includes canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, and other items that do not require refrigeration. The Company has a global presence selling its products in all 50 U.S. states as well as several major international markets. No individual foreign country is material to the consolidated results. Additionally, the Company’s long-lived assets located in foreign countries are not significant. Total net sales attributed to the U.S. and all foreign countries in total are:
Major Customers: Sales to Walmart Inc. and its subsidiaries (Walmart) represented 15.6% or $2.0 billion, 15.6% or $2.0 billion, and 15.5% or $2.0 billion of the Company’s consolidated gross sales less returns and allowances in fiscal 2025, 2024, and 2023, respectively. Walmart is a customer for the Company’s Retail and International segments.
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Restructuring |
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Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring | Restructuring The Company is undertaking a corporate restructuring plan designed to reduce administrative expenses, improve efficiencies, and align its workforce to the Company’s future needs, while enabling continued investment in the Company’s growth. The restructuring includes a voluntary early retirement program for certain groups of employees, the closing of certain open roles, involuntary role reductions, and making select changes to benefit programs. The Company expects to incur restructuring charges in the range of $20.0 million to $25.0 million for one-time pension benefits, cash severance payments, other employee benefit costs, and professional fees. The charges are expected to be primarily recognized in the fourth quarter of fiscal 2025 and the first quarter of fiscal 2026. Of the estimated charges, the Company expects that approximately $8.0 million to $10.0 million will be in future cash expenditures during fiscal 2026. The Company recognized $13.3 million of costs associated with restructuring activities during fiscal 2025. All costs in fiscal 2025 are unallocated corporate expenses which are not included in any of the reportable segments' measure of segment profit. A summary of these costs by type is as follows:
As of October 26, 2025, the Company had accrued $0.6 million for ongoing restructuring activities which was recorded as part of Accounts Payable. These amounts are associated with professional fees and are expected to be paid during fiscal 2026. The reconciliation of the beginning and ending liability balance showing activity during the year is as follows:
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SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES |
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| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES In thousands
(1) Uncollectible accounts written off. (2) Recoveries on accounts previously written off.
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Insider Trading Arrangements |
3 Months Ended |
|---|---|
Oct. 26, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Oct. 26, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Oct. 26, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | As a global organization, the Company’s information systems are subject to various risks, including, but not limited to risks associated with ransomware, system disruption, data theft, unauthorized access to information, and misuse of data. To identify, address, and mitigate these risks, the Company has developed and maintains a cybersecurity program. The Company’s cybersecurity program is informed by the National Institute of Standards and Technology (NIST) Cybersecurity Framework and the Company’s Enterprise Risk Management (ERM) process and relies on internal and external expertise. Integration with ERM Processes The Company maintains an ERM program with a governance structure that is designed to identify, assess, prioritize, and mitigate risks across the organization. The ERM Executive Committee, comprised of the Company’s senior leadership team, has the ultimate responsibility for managing the identification of the key risks facing the Company and meets regularly to discuss the Company’s approach to mitigating those risks. Through the ERM process, cybersecurity has been identified as an important risk facing the Company. As a result, the cybersecurity program is an important component of the Company’s ERM processes. In addition to discussing the cybersecurity program at ERM Executive Committee meetings, members of the ERM Executive Committee participate in the cybersecurity incident response process. This process includes a governance model and procedures for identifying, categorizing, containing, and responding to cybersecurity incidents. As a component of the cybersecurity incident response process, the Company periodically conducts attack simulations and exercises and has used third parties to support this work. The Company also maintains business continuity and disaster recovery plans to prepare for potential technology disruptions and to better position the Company to recover from any cybersecurity incident. The Company’s Disclosure Committee also includes members of the ERM Executive Committee, helping to ensure timely analysis of potential disclosure obligations relating to cybersecurity events. Cybersecurity Program Components The Company’s cybersecurity program includes a focus on governance, processes, technology, and people. Components of the program include the following: •Investments in security technology, such as vulnerability management tools, malicious software protection, email security, and around-the-clock monitoring; •Regular monitoring and updating of the Company’s IT infrastructure, to respond to the dynamic cybersecurity threat environment; •Use of internal resources and third parties to assess, test, validate, and strengthen the cybersecurity program, and the periodic use of third parties to perform penetration testing and to assess the quality and maturity of the program against the NIST Cybersecurity Framework; and •Assessing and managing cybersecurity risks associated with the Company’s relationships with third parties, including technology and service providers, through due diligence efforts and the imposition of contractual obligations. The Company’s cybersecurity program also includes employee training and education. Frequent employee training topics include social engineering, phishing, password protection, confidential data protection, asset use, and mobile security. Training emphasizes the importance of reporting incidents promptly to the Company’s security operations team. The Company also conducts periodic phishing tests with employees and provides employees with easy-to-use tools to report potential phishing emails.
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | As a global organization, the Company’s information systems are subject to various risks, including, but not limited to risks associated with ransomware, system disruption, data theft, unauthorized access to information, and misuse of data. To identify, address, and mitigate these risks, the Company has developed and maintains a cybersecurity program. The Company’s cybersecurity program is informed by the National Institute of Standards and Technology (NIST) Cybersecurity Framework and the Company’s Enterprise Risk Management (ERM) process and relies on internal and external expertise. Integration with ERM Processes The Company maintains an ERM program with a governance structure that is designed to identify, assess, prioritize, and mitigate risks across the organization. The ERM Executive Committee, comprised of the Company’s senior leadership team, has the ultimate responsibility for managing the identification of the key risks facing the Company and meets regularly to discuss the Company’s approach to mitigating those risks. Through the ERM process, cybersecurity has been identified as an important risk facing the Company. As a result, the cybersecurity program is an important component of the Company’s ERM processes.
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| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | The Company’s Board of Directors (Board) and its Audit Committee exercise oversight of the Company’s ERM program, including the cybersecurity program. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Company’s Board of Directors (Board) and its Audit Committee exercise oversight of the Company’s ERM program, including the cybersecurity program. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | Management, led by the Director of Information Security and Compliance, provides at least three updates per year to the Audit Committee on cybersecurity topics, and the Audit Committee regularly reports to the Board on these presentations. In addition, the Director of Information Security and Compliance provides an annual cybersecurity update to the full Board. Management’s updates cover relevant cybersecurity topics, both ongoing and unique in nature, including risk exposures and management’s actions to monitor and mitigate such risks, emerging threats or regulations, and status updates on projects to strengthen and mature the Company’s systems and cybersecurity programs. Management’s escalation protocol includes reporting of certain cybersecurity threats or incidents to the Audit Committee in a prompt and timely manner. |
| Cybersecurity Risk Role of Management [Text Block] | The Company’s management is responsible for identifying, assessing, and managing the Company’s exposure to cybersecurity risk. The Company has an internal team that is supported by security technologies, third-party experts, and threat intelligence resources in support of cybersecurity risk reduction. The Company's internal cybersecurity team is led by the Company’s Director of Information Security and Compliance, who acts in the capacity of a chief information security officer and is responsible for overseeing the execution of cybersecurity strategy and maturing the Company’s cybersecurity posture. The Director of Information Security and Compliance reports to the Company’s Vice President of IT Services and has education, training, and experience pertinent to cybersecurity, including more than 25 years of IT experience with over 15 years in Information Security and holds the Certified Information Security Systems Professional (CISSP) certification. Board of Directors The Company’s Board of Directors (Board) and its Audit Committee exercise oversight of the Company’s ERM program, including the cybersecurity program. Management, led by the Director of Information Security and Compliance, provides at least three updates per year to the Audit Committee on cybersecurity topics, and the Audit Committee regularly reports to the Board on these presentations. In addition, the Director of Information Security and Compliance provides an annual cybersecurity update to the full Board. Management’s updates cover relevant cybersecurity topics, both ongoing and unique in nature, including risk exposures and management’s actions to monitor and mitigate such risks, emerging threats or regulations, and status updates on projects to strengthen and mature the Company’s systems and cybersecurity programs. Management’s escalation protocol includes reporting of certain cybersecurity threats or incidents to the Audit Committee in a prompt and timely manner.
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| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The Company's internal cybersecurity team is led by the Company’s Director of Information Security and Compliance, who acts in the capacity of a chief information security officer and is responsible for overseeing the execution of cybersecurity strategy and maturing the Company’s cybersecurity posture. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | The Director of Information Security and Compliance reports to the Company’s Vice President of IT Services and has education, training, and experience pertinent to cybersecurity, including more than 25 years of IT experience with over 15 years in Information Security and holds the Certified Information Security Systems Professional (CISSP) certification. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | The Company’s management is responsible for identifying, assessing, and managing the Company’s exposure to cybersecurity risk. The Company has an internal team that is supported by security technologies, third-party experts, and threat intelligence resources in support of cybersecurity risk reduction. The Company's internal cybersecurity team is led by the Company’s Director of Information Security and Compliance, who acts in the capacity of a chief information security officer and is responsible for overseeing the execution of cybersecurity strategy and maturing the Company’s cybersecurity posture. The Director of Information Security and Compliance reports to the Company’s Vice President of IT Services and has education, training, and experience pertinent to cybersecurity, including more than 25 years of IT experience with over 15 years in Information Security and holds the Certified Information Security Systems Professional (CISSP) certification. Board of Directors The Company’s Board of Directors (Board) and its Audit Committee exercise oversight of the Company’s ERM program, including the cybersecurity program. Management, led by the Director of Information Security and Compliance, provides at least three updates per year to the Audit Committee on cybersecurity topics, and the Audit Committee regularly reports to the Board on these presentations. In addition, the Director of Information Security and Compliance provides an annual cybersecurity update to the full Board. Management’s updates cover relevant cybersecurity topics, both ongoing and unique in nature, including risk exposures and management’s actions to monitor and mitigate such risks, emerging threats or regulations, and status updates on projects to strengthen and mature the Company’s systems and cybersecurity programs. Management’s escalation protocol includes reporting of certain cybersecurity threats or incidents to the Audit Committee in a prompt and timely manner.
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| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Summary of Significant Accounting Policies (Policies) |
12 Months Ended |
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Oct. 26, 2025 | |
| Accounting Policies [Abstract] | |
| Principles of Consolidation | Principles of Consolidation: The consolidated financial statements include the accounts of Hormel Foods Corporation (the Company) and all its majority-owned subsidiaries after elimination of intercompany accounts, transactions, and profits. Financial information from certain foreign subsidiaries is reported on a one-month lag.
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| Use of Estimates | Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
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| Fiscal Year | Fiscal Year: The Company’s fiscal year ends on the last Sunday in October. Fiscal 2025, 2024, and 2023 consisted of 52 weeks. Fiscal 2026 will consist of 52 weeks.
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| Reclassifications | Reclassifications: Certain prior year amounts have been reclassified to conform to the current year presentation. •Consolidated Statements of Operations: Interest and Investment Income has been separated into Interest Income and Other Income (Expense), Net. •Consolidated Statements of Financial Position: The major classes of Property, Plant, and Equipment are now disclosed in Note F - Property, Plant, and Equipment. •Consolidated Statements of Cash Flows: The prior year Loss (Gain) on Sale of Business, previously included in Other Non-cash, Net, is now presented separately.
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| Cash and Cash Equivalents | Cash and Cash Equivalents: The Company considers all investments with an original maturity of three months or less on their acquisition date to be cash equivalents. The Company’s cash equivalents as of October 26, 2025, and October 27, 2024, consisted primarily of bank deposits, money market funds, or other highly liquid investment accounts. The net asset value (NAV) of the Company’s money market funds is based on the market value of the securities in the portfolio.
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| Fair Value Measurements | Fair Value Measurements: Pursuant to the provisions of Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, the Company measures certain assets and liabilities at fair value or discloses the fair value of certain assets and liabilities recorded at cost in the consolidated financial statements. Fair value is calculated as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). ASC 820 establishes a fair value hierarchy which requires assets and liabilities measured at fair value to be categorized into one of three levels based on the inputs used in the valuation. The Company classifies assets and liabilities in their entirety based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows: Level 1 Observable inputs based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 Observable inputs, other than those included in Level 1, based on quoted prices for similar assets and liabilities in active markets, or quoted prices for identical assets and liabilities in inactive markets. Level 3 Unobservable inputs that reflect an entity’s own assumptions about what inputs a market participant would use in pricing the asset or liability based on the best information available in the circumstances. The Company’s financial assets and liabilities carried at fair value on a recurring basis and their level within the fair value hierarchy are presented in the tables below.
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| Deferred Compensation and Other Trading Securities | Deferred Compensation and Other Trading Securities: The Company maintains a rabbi trust to fund certain supplemental executive retirement plans and deferred compensation plans. The rabbi trust is reflected in Other Assets and deferred compensation liabilities in Other Long-term Liabilities. The assets held by the rabbi trust are classified as trading securities. Therefore, unrealized gains and losses associated with these investments are included in Other Income (Expense), Net. |
| Inventories | Inventories: Inventories are stated at the lower of cost or net realizable value. Cost is determined principally under the average cost method. Adjustments to the Company’s lower of cost or net realizable value inventory reserve are reflected in Cost of Products Sold.
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| Property, Plant, and Equipment | Property, Plant, and Equipment: Property, Plant, and Equipment are stated at cost and the Company recognizes depreciation using the straight-line method over the estimated useful life of the assets. Costs associated with software developed or obtained for internal use, including third-party development fees incurred during the application development stage, are capitalized and amortized on a straight-line basis. Depreciation has been computed principally using asset lives of 20 to 40 years for buildings and 3 to 14 years for software and equipment.
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| Leases, Lessee | Leases: The Company determines if an arrangement contains a lease at inception. Right-of-use assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at the commencement date. Leases with an initial term of twelve months or less are not recorded on the Consolidated Statements of Financial Position. The Company combines lease and non-lease components together in determining the minimum lease payments for all leases. The length of the lease term used in recording right-of-use assets and lease liabilities is based on the contractually required lease term adjusted for any options to renew, early terminate, or purchase the lease that are reasonably certain of being exercised. Most leases include one or more options to renew or terminate. The exercise of lease renewal and termination options is at the Company’s discretion and generally is not reasonably certain at lease commencement. The Company’s lease agreements typically do not contain material residual value guarantees. The Company has one lease with an immaterial residual value guarantee that is included in the minimum lease payments. Certain lease agreements include rental payment increases over the lease term that can be fixed or variable. Fixed payment increases and variable payment increases based on an index or rate are included in the initial lease liability using the index or rate at commencement date. Variable payment increases not based on an index or rate are recognized as incurred. If the rate implicit in the lease is not readily determinable, the Company used its periodic incremental borrowing rate, based on the information available at commencement date, to determine the present value of future lease payments. Leases and right-of-use assets that existed prior to the adoption of Accounting Standards Update 2016-02, Leases (Topic 842) were valued using the incremental borrowing rate on October 28, 2019.
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| Leases, Lessor | Leases: The Company determines if an arrangement contains a lease at inception. Right-of-use assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at the commencement date. Leases with an initial term of twelve months or less are not recorded on the Consolidated Statements of Financial Position. The Company combines lease and non-lease components together in determining the minimum lease payments for all leases. The length of the lease term used in recording right-of-use assets and lease liabilities is based on the contractually required lease term adjusted for any options to renew, early terminate, or purchase the lease that are reasonably certain of being exercised. Most leases include one or more options to renew or terminate. The exercise of lease renewal and termination options is at the Company’s discretion and generally is not reasonably certain at lease commencement. The Company’s lease agreements typically do not contain material residual value guarantees. The Company has one lease with an immaterial residual value guarantee that is included in the minimum lease payments. Certain lease agreements include rental payment increases over the lease term that can be fixed or variable. Fixed payment increases and variable payment increases based on an index or rate are included in the initial lease liability using the index or rate at commencement date. Variable payment increases not based on an index or rate are recognized as incurred. If the rate implicit in the lease is not readily determinable, the Company used its periodic incremental borrowing rate, based on the information available at commencement date, to determine the present value of future lease payments. Leases and right-of-use assets that existed prior to the adoption of Accounting Standards Update 2016-02, Leases (Topic 842) were valued using the incremental borrowing rate on October 28, 2019.
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| Impairment of Long-lived Assets and Definite-lived Intangible Assets | Impairment of Long-lived Assets and Definite-lived Intangible Assets: Long-lived and definite-lived intangible assets are amortized over their estimated useful lives. The Company reviews long-lived assets and definite-lived intangible assets for impairment annually, or more frequently when events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If impairment indicators are present and the estimated future undiscounted cash flows are less than the carrying value of the assets, the carrying value is reduced to the estimated fair value. During the fourth quarter of fiscal 2025, the Company completed its annual impairment testing of long-lived assets by performing qualitative assessments. The Company recorded no material impairment charges for long-lived assets in fiscal years 2025, 2024, or 2023.
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| Goodwill and Other Indefinite-Lived Intangibles | Goodwill and Other Indefinite-Lived Intangibles: Indefinite-lived intangible assets are originally recorded at their estimated fair values at the date of acquisition. Goodwill is the residual after allocating the purchase price to net assets acquired. Acquired goodwill and other indefinite-lived intangible assets are allocated to reporting units that will receive the related benefits. Goodwill and indefinite-lived intangible assets are tested annually for impairment during the fourth quarter or more frequently if impairment indicators arise. Goodwill and intangible impairment charges, when applicable, are reflected as Goodwill and Intangible Impairment in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows. The impairment charges are reflected in the segment with primary ownership of the asset. See additional discussion regarding the Company’s goodwill and indefinite-lived intangible assets in Note C - Goodwill and Intangible Assets. Goodwill In conducting the annual impairment test for goodwill, the Company has the option to first assess qualitative factors to determine whether it is more likely than not (> 50 percent likelihood) the fair value of any reporting unit is less than its carrying amount. If the Company elects to perform a qualitative assessment and determines an impairment is more likely than not, the Company is required to perform a quantitative impairment test. Otherwise, no further analysis is required. Alternatively, the Company may elect to proceed directly to the quantitative impairment test. In conducting a qualitative assessment, the Company analyzes actual and projected growth trends for net sales, gross margin, and segment profit for each reporting unit, as well as historical performance versus plan and the results of prior quantitative tests. Additionally, the Company assesses factors that may impact the reporting unit’s financial results such as macroeconomic conditions and the related impact, market-related exposures, plans to market for sale all or a portion of the business, competitive changes, new or discontinued product lines, and changes in key personnel. If completed, the quantitative goodwill impairment test is performed at the reporting unit level. First, the fair value of each reporting unit is compared to its corresponding carrying value, including goodwill. The fair value of each reporting unit is estimated using discounted cash flow valuations (Level 3), which incorporate assumptions regarding future growth rates, terminal values, and discount rates. The estimates and assumptions used consider historical performance and are consistent with the assumptions used in determining future profit plans for each reporting unit, which are approved by the Company’s Board of Directors. If the quantitative assessment results in the carrying value exceeding the fair value of any reporting unit, the results from the quantitative analysis will be relied upon to determine both the existence and amount of goodwill impairment. An impairment loss will be recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill in that reporting unit. Indefinite-Lived Intangibles In conducting the annual impairment test for its indefinite-lived intangible assets, the Company first performs a qualitative assessment to determine whether it is more likely than not (> 50 percent likelihood) an indefinite-lived intangible asset is impaired. If the Company concludes this is the case, a quantitative test for impairment must be performed. Otherwise, the Company does not need to perform a quantitative test. In conducting the qualitative assessment, the Company analyzes growth rates for historical and projected net sales and the results of prior quantitative tests. Additionally, each operating segment assesses items that may impact the value of their intangible assets or the applicable royalty rates to determine if impairment may be indicated. If performed, the quantitative impairment test compares the fair value and carrying amount of the indefinite-lived intangible asset. The fair value of indefinite-lived intangible assets is primarily determined on the basis of estimated discounted value using the relief from royalty method (Level 3), which incorporates assumptions regarding future sales projections, royalty rates, and discount rates. If the carrying amount exceeds fair value, the indefinite-lived intangible asset is considered impaired, and an impairment charge is recorded for the difference. Even if not required, the Company may elect to perform the quantitative test in order to gain further assurance in the qualitative assessment.
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| Goodwill | Goodwill In conducting the annual impairment test for goodwill, the Company has the option to first assess qualitative factors to determine whether it is more likely than not (> 50 percent likelihood) the fair value of any reporting unit is less than its carrying amount. If the Company elects to perform a qualitative assessment and determines an impairment is more likely than not, the Company is required to perform a quantitative impairment test. Otherwise, no further analysis is required. Alternatively, the Company may elect to proceed directly to the quantitative impairment test. In conducting a qualitative assessment, the Company analyzes actual and projected growth trends for net sales, gross margin, and segment profit for each reporting unit, as well as historical performance versus plan and the results of prior quantitative tests. Additionally, the Company assesses factors that may impact the reporting unit’s financial results such as macroeconomic conditions and the related impact, market-related exposures, plans to market for sale all or a portion of the business, competitive changes, new or discontinued product lines, and changes in key personnel. If completed, the quantitative goodwill impairment test is performed at the reporting unit level. First, the fair value of each reporting unit is compared to its corresponding carrying value, including goodwill. The fair value of each reporting unit is estimated using discounted cash flow valuations (Level 3), which incorporate assumptions regarding future growth rates, terminal values, and discount rates. The estimates and assumptions used consider historical performance and are consistent with the assumptions used in determining future profit plans for each reporting unit, which are approved by the Company’s Board of Directors. If the quantitative assessment results in the carrying value exceeding the fair value of any reporting unit, the results from the quantitative analysis will be relied upon to determine both the existence and amount of goodwill impairment. An impairment loss will be recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill in that reporting unit.
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| Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits: The Company has elected to use the corridor approach to recognize expenses related to its defined benefit pension and other postretirement benefit plans. Under the corridor approach, actuarial gains or losses resulting from experience and changes in assumptions are deferred and amortized over future periods. For the defined benefit pension plans, the unrecognized gains and losses are amortized when the net gain or loss exceeds 10 percent of the greater of the projected benefit obligation or the fair value of plan assets at the beginning of the year. For the other postretirement plans, the unrecognized gains and losses are amortized when the net gain or loss exceeds 10 percent of the accumulated pension benefit obligation at the beginning of the year. For plans with primarily active participants, net gains or losses in excess of the corridor are amortized over the average remaining service period of participating employees expected to receive benefits under those plans. For plans with primarily inactive participants, net gains or losses in excess of the corridor are amortized over the average remaining life of the participants receiving benefits under those plans. These non-service cost components of net pension and postretirement benefit cost are recorded within Other Income (Expense), Net.
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| Contingent Liabilities | Contingent Liabilities: The Company may be subject to investigations, legal proceedings, or claims related to the ongoing operation of its business, including claims both by and against the Company. Such proceedings typically involve claims related to product liability, contract disputes, antitrust regulations, wage and hour laws, employment practices, or other actions brought by employees, consumers, competitors, government agencies, or suppliers. The Company establishes accruals for its potential exposure for claims when losses become probable and reasonably estimable. Where the Company is able to reasonably estimate a range of probable losses, but no amount within the range is more likely than another, the Company records the amount at the low end of the range. The Company also discloses the nature of claims against the Company when losses are reasonably possible and material; in this situation, the Company also discloses an estimate of the possible loss, range of loss, or that an estimate cannot be made.
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| Foreign Currency Translation | Foreign Currency Translation: Assets and liabilities denominated in foreign currency are translated at the current exchange rate as of the date of the Consolidated Statements of Financial Position. Amounts in the Consolidated Statements of Operations are translated at the average monthly exchange rate. Translation adjustments resulting from fluctuations in exchange rates are recorded as a component of Accumulated Other Comprehensive Loss. When calculating foreign currency translation, the Company has deemed its foreign investments to be permanent in nature and has not provided for taxes on currency translation adjustments arising from converting the investment in a foreign currency to U.S. dollars.
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| Derivatives and Hedging Activity | Derivatives and Hedging Activity: The Company uses derivative instruments to manage its exposure to commodity prices and interest rates. Hedge accounting is used for cash flow and fair value hedging programs that qualify in accordance with ASC 815, Derivatives and Hedging. The Company has determined its designated hedging programs to be highly effective in offsetting the changes in fair value or cash flows generated by the items hedged. Effectiveness testing is performed on a quarterly basis to ascertain a high level of effectiveness for cash flow and fair value hedging programs. If the requirements of hedge accounting are no longer met, hedge accounting is discontinued immediately and any future changes to fair value are recorded directly through earnings. The derivative instruments are recorded at fair value on the Consolidated Statements of Financial Position. The Company nets the derivative assets and liabilities for each of its commodity hedging programs, including cash collateral when a master netting arrangement exists between the Company and the counterparty to the derivative contract. The amount and timing of cash collateral balances may impact the classification of the commodity derivative on the Consolidated Statements of Financial Position. The net balance for commodity derivatives is included in Prepaid Expenses and Other Current Assets or Accounts Payable, as appropriate. The cash flow impacts from the derivative instruments are included in Operating Activities in the Consolidated Statements of Cash Flows.
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| Equity Method Investments | Equity Method Investments: The Company has a number of investments for which its voting interests are in excess of 20 percent but not greater than 50 percent and for which there are no other indicators of control. The Company accounts for such investments under the equity method of accounting and its underlying share of each investee’s equity, along with any balances due to or from affiliates and the effect of foreign currency translation on the carrying value, is reported in Investments in Affiliates. The Company records its interest in the net earnings of its equity method investments, along with adjustments for unrealized profits on intra-entity transactions, within Equity in Earnings of Affiliates. Basis differences associated with definite-lived assets are amortized through Equity in Earnings of Affiliates over the associated useful lives. Financial results for certain entities are reported on a 30- to 90-day lag. The Company uses the cumulative earnings approach to determine the cash flow presentation of distributions from equity method investments. Distributions received are reflected in Operating Activities in the Consolidated Statements of Cash Flows unless the cumulative distributions exceed the portion of the cumulative equity in earnings of the equity method investment. Distributions in excess of the cumulative equity in earnings are deemed to be returns of the investment and classified as Investing Activities in the Consolidated Statements of Cash Flows. The Company regularly monitors and evaluates the fair value of its equity method investments. If events and circumstances, such as ongoing or projected decreases in earnings or significant business disruptions, indicate that a decline in the fair value of these assets has occurred and is other than temporary, the Company records an impairment charge in Equity in Earnings of Affiliates and reduces the carrying value in Investments in Affiliates.
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| Revenue Recognition and Shipping and Handling Costs | Revenue Recognition: The Company’s customer contracts predominantly contain a single performance obligation to fulfill customer orders for the purchase of specified products. Revenue from product sales is primarily identified by purchase orders (contracts), which in some cases are governed by a master sales agreement. The purchase orders in combination with the invoice typically specify quantity and product(s) ordered, shipping terms, and certain aspects of the transaction price including discounts. Contracts are at standalone pricing or governed by pricing lists or brackets. The Company’s revenue is recognized at the point in time when performance obligations have been satisfied and control of the product has transferred to the customer. This is typically once the ordered product is received or picked up by the customer. Revenue is recognized at the net consideration the Company expects to receive in exchange for the goods. The amount of net consideration recognized includes estimates of variable consideration, including costs for trade promotion programs, consumer incentives, allowances and discounts associated with distressed or potentially unsaleable products, returns, and other costs. A majority of the Company’s revenue is short-term in nature with shipments within one year from order date. The Company’s payment terms generally range between to 60 days and vary by sales channel and other factors. The Company accounts for shipping and handling costs as contract fulfillment costs and excludes taxes imposed on and collected from customers in revenue producing transactions from the transaction price. The Company does not have significant deferred revenue or unbilled receivable balances as a result of transactions with customers. Costs to obtain contracts with a duration of one year or less are expensed and included in Selling, General, and Administrative. The Company promotes products through advertising, consumer incentives, and trade promotions. These promotional programs include, but are not limited to, discounts, slotting fees, coupons, rebates, and in-store display incentives. Customer trade promotion and consumer incentive activities are recorded as a reduction to revenue and a corresponding accrued liability based on amounts estimated as variable consideration. The Company discloses revenue by reportable segment and class of similar product in Note Q - Segment Reporting. Shipping and Handling Costs: The Company’s shipping and handling expenses are included in Cost of Products Sold.
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| Allowance for Doubtful Accounts | Allowance for Doubtful Accounts: The Company estimates the Allowance for Doubtful Accounts based on a combination of factors, evaluations, and historical data while considering current and future economic conditions.
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| Advertising Expenses | Advertising Expenses: Advertising costs are included in Selling, General, and Administrative and expensed when incurred. Advertising expenses include all media advertising but exclude the costs associated with samples, demonstrations, and market research. |
| Research and Development Expenses | Research and Development Expenses: Research and development costs are expensed as incurred and are primarily included in Selling, General, and Administrative. |
| Income Taxes | Income Taxes: The Company records income taxes in accordance with the liability method of accounting. Deferred taxes are recognized for the estimated taxes ultimately payable or recoverable based on enacted tax law. Changes in enacted tax rates are reflected in the tax provision as they occur. The Company has elected to treat global intangible low-taxed income (GILTI) as a period cost. In accordance with ASC 740, Income Taxes, the Company recognizes a tax position in its financial statements when it is more likely than not that the position will be sustained upon examination based on the technical merits of the position. That position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Unrecognized tax benefits, including interest and penalties, are primarily recorded in Other Long-term Liabilities.
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| Stock-based Compensation | Stock-based Compensation: The Company records stock-based compensation expense in accordance with ASC 718, Compensation – Stock Compensation. The Company recognizes stock-based compensation expense ratably over the shorter of the vesting period or the grantee’s retirement eligibility date. These costs are primarily included in Selling, General, and Administrative. The Company estimates forfeitures at the time of grant based on historical experience and revises in subsequent periods if actual forfeitures differ.
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| Share Repurchases | Share Repurchases: The Company may purchase shares of its common stock through open-market and privately negotiated transactions pursuant to share repurchase authorizations approved by the Company's Board of Directors and at prices deemed appropriate by management. The timing and amount of repurchase transactions under the repurchase authorization depend on market conditions as well as corporate and regulatory considerations.
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| Supplemental Cash Flow Information | Supplemental Cash Flow Information: Non-cash Investment Activities presented in the Consolidated Statements of Cash Flows primarily consist of unrealized gains or losses on the Company’s rabbi trust. Changes in the value of these investments are presented in Other Income (Expense), Net.
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| Accounting Changes and Recent Accounting Pronouncements | Accounting Changes and Recent Accounting Pronouncements: New Accounting Pronouncements Recently Adopted Fiscal 2025 In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and allows the disclosure of additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures currently required by Topic 280 to be included in interim periods. The Company adopted ASU 2023-07 in fiscal 2025. Refer to Note Q - Segment Reporting for the updated disclosures. Fiscal 2024 No new accounting standards were adopted during fiscal 2024. Fiscal 2023 No new accounting standards were adopted during fiscal 2023. New Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update is intended to enhance transparency and decision usefulness of annual income tax disclosures. The ASU updates income tax disclosure requirements by requiring specific categories and greater disaggregation within the rate reconciliation and disaggregation of income taxes paid by jurisdiction. The ASU is effective for the Company's fiscal year ending October 25, 2026. The Company is currently assessing the impact of adopting the updated provisions. In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. Subsequently, in January 2025, the FASB issued ASU 2025-01 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The new guidance is intended to provide investors more detailed disclosures around specific types of expenses. The new disclosures require certain details for expenses presented on the face of the Consolidated Statements of Operations as well as selling expenses to be presented in the notes to the financial statements. As clarified by ASU 2025-01, the guidance is effective for the Company's fiscal year ending October 29, 2028, and subsequent interim periods thereafter. The disclosure updates are required to be applied prospectively with the option for retrospective application. The Company is currently assessing the impact of adopting the updated guidance. In September 2025, the FASB issued ASU 2025-06 Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The new guidance is intended to modernize the accounting for internal-use software costs and better align recognition practices. The update introduces principles-based criteria entities must consider to begin capitalizing costs based on management authorization and project completion probability. The guidance is effective for the Company's fiscal year ending October 28, 2029, and subsequent interim periods thereafter, with early adoption permitted. Several transition approaches are available including prospective, retrospective, and a modified transition approach. The Company is currently assessing the impact, transition approach, and timing of adoption. Recently issued accounting standards or pronouncements not disclosed have been excluded as they are currently not relevant to the Company.
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| Segment Reporting | Segment Results: The Company develops, processes, and distributes a wide array of food products in a variety of markets. The Company reports its results in the following three segments: Retail, Foodservice, and International. The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in retail channels, including grocery stores, mass merchandisers, club stores, natural food chains, drug, dollar and discount chains, and e-commerce providers in the U.S. This segment also includes the results from the Company’s MegaMex Foods joint venture. The Foodservice segment consists primarily of the processing, marketing, and sale of food products to distributors and operators across a wide range of providers of food away from home, including restaurants, hospitality, healthcare, K-12, college and universities, and convenience stores in the U.S. The International segment processes, markets, and sells the Company's products through retail and foodservice channels internationally. This segment also includes the results from the Company’s international joint ventures, equity method investments, and royalty arrangements, as well as operations in China and Brazil. The results of each segment are regularly provided to the Company's Interim Chief Executive Officer, who is the chief operating decision maker (CODM). The CODM primarily uses net sales and segment profit to compare results to the prior year, annual operating plan, and periodic forecasts when evaluating segment performance and allocating resources. The accounting policies of the segments are generally the same as those presented in Note A - Summary of Significant Accounting Policies. Intersegment sales are eliminated in consolidation and are not reviewed when evaluating segment performance. Segment profit also excludes unallocated general corporate expenses, deferred compensation, non-recurring expenses associated with the Transform and Modernize initiative, corporate restructuring plan costs, and interest and other income and expense. Equity in Earnings of Affiliates is included in segment profit; however, earnings attributable to the Company’s corporate venturing investments and noncontrolling interests are excluded. Segment results, including the significant expense categories regularly provided to the CODM, are provided below. Certain portions of these expenses are retained at the corporate level and are presented in Net Unallocated Expense.
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Goodwill and Intangible Assets (Tables) |
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Oct. 26, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of changes in the carrying amount of goodwill | The change in the carrying amount of goodwill for the fiscal years ended October 26, 2025, and October 27, 2024, is:
The goodwill sold during fiscal 2024 was due to the divestiture of Hormel Health Labs.
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| Schedule of finite lived and infinite lived intangible assets | The Company's intangible assets by type are:
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| Schedule of amortization expense on intangible assets | Amortization expense on intangible assets for the last three fiscal years is as follows:
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| Schedule of estimated annual amortization expense on intangible assets | Estimated annual amortization expense on intangible assets for the five fiscal years after October 26, 2025, is as follows:
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Investments in Affiliates (Tables) |
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Oct. 26, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of ownership percentage and basis difference in equity method investments | As of October 26, 2025, the Company's equity method investments include:
(1) The Garudafood remaining unamortized basis difference balance includes the impact of foreign currency translation and impairment.
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| Schedule of distributions received from equity method investees | Distributions received from equity method investees consists of:
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Inventories (Tables) |
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Oct. 26, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal components of inventories | Principal components of inventories are:
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Property, Plant, and Equipment (Tables) |
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Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Property, Plant, and Equipment | Property, plant, and equipment consists of the following:
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Derivatives and Hedging (Tables) |
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| Derivatives and hedging | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of gross fair values of derivative instruments | The gross fair values of the Company’s derivative instruments designated as hedges are:
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| Schedule of fair value hedge assets (liabilities) | The carrying amount of the Company’s fair value hedged assets (liabilities) are:
(1) Represents the carrying amount of fair value hedged assets and liabilities, which are offset by other assets included in master netting arrangements described above.
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| Schedule of gains or losses (before tax) related to derivative instruments | The pre-tax gains (losses) recognized in AOCL related to the Company’s derivative instruments are:
(1) Represents the time value of commodity options excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in AOCL. The pre-tax gains (losses) reclassified from AOCL into earnings related to the Company’s derivative instruments are:
See Note I - Accumulated Other Comprehensive Loss for the after-tax impact of these gains or losses on Net Earnings. Consolidated Statements of Operations Impact: The effect on the Consolidated Statements of Operations for pre-tax gains (losses) related to the Company’s derivative instruments are:
(1) Represents gains or losses on commodity contracts designated as fair value hedges that were closed during the year, which were offset by a corresponding gain or loss on the underlying hedged purchase commitment. Additional gains or losses related to changes in the fair value of open commodity contracts, along with the offsetting gain or loss on the hedged purchase commitment, are also marked-to-market through earnings with no impact on a net basis. (2) Represents the fair value hedging adjustment amortized through earnings.
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| Cash Flow Hedges | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives and hedging | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of outstanding commodity futures contracts | The Company’s outstanding contracts related to its commodity hedging programs include:
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Pension and Other Postretirement Benefits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of net periodic cost of defined benefit plans | Net periodic cost of defined benefit plans included the following for fiscal years ending: (1) As part of the corporate restructuring plan, the Company approved a voluntary early retirement program for eligible participants of the non-bargaining unit pension plan. The program included a one-time benefit enhancement based upon years of service, subject to minimum and maximum limits.
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| Schedule of amounts that have not been recognized in net periodic pension cost and are included in accumulated other comprehensive loss | The following amounts have not been recognized in net periodic pension cost and are included in Accumulated Other Comprehensive Loss:
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| Schedule of reconciliation of the beginning and ending balances of the benefit obligation, the fair value of plan assets, and the funded status of the plans | The following is a reconciliation of the beginning and ending balances of the benefit obligation, fair value of plan assets, and funded status of the plans as of the measurement dates:
(1) Actuarial losses in fiscal 2024 were primarily due to the change in the discount rate assumptions utilized in measuring plan obligations.
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| Schedule of amounts recognized in the Consolidated Statements of Financial Position | Amounts recognized on the Consolidated Statements of Financial Position are as follows:
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| Schedule of information for pension plans with accumulated benefit obligations in excess of plan assets | The following table provides information for pension plans with projected and accumulated benefit obligations in excess of plan assets:
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| Schedule of weighted-average assumptions used to determine benefit obligations and net periodic benefit costs | Weighted-average assumptions used to determine benefit obligations are as follows:
Weighted-average assumptions used to determine net periodic benefit costs are as follows:
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| Schedule of benefits expected to be paid over the next ten fiscal years | Benefits expected to be paid over the next ten fiscal years are as follows:
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| Schedule of actual and target weighted-average asset allocations for pension plan assets | The actual and target weighted-average asset allocations for the Company’s pension plan assets as of the plan measurement date are as follows:
(1) Fixed Income asset category was replaced by Long Duration Fixed Income and Investment Grade Bonds in fiscal 2025.
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| Schedule of categories of defined benefit pension plan assets and the level under which fair values were determined in the fair value hierarchy | The following tables show the categories of defined benefit pension plan assets and the level under which fair values were determined pursuant to the provisions of ASC 820. Assets measured at fair value using the NAV per share practical expedient are not required to be classified in the fair value hierarchy. These amounts are provided to permit reconciliation to the total fair value of plan assets.
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| Schedule of reconciliation of the beginning and ending balance of the investments measured at fair value using significant unobservable inputs (Level 3) | A reconciliation of the beginning and ending balance of the investments measured at fair value using significant unobservable inputs (Level 3) is as follows:
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| Schedule of unfunded private equity commitment balance for each investment category | The unfunded commitment balance for each investment category is as follows:
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Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components of accumulated other comprehensive loss | Components of Accumulated Other Comprehensive Loss are as follows:
(1) Included in computation of net periodic cost. See Note H - Pension and Other Postretirement Benefits for additional information. (2) Included in Cost of Products Sold and Interest Expense. See Note G - Derivatives and Hedging for additional information. (3) Included in Equity in Earnings of Affiliates.
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Fair Value Measurements (Tables) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of financial assets and liabilities carried at fair value on a recurring basis |
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Commitments and Contingencies (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of purchase commitments | As of October 26, 2025, the Company is committed to make purchases under these contracts, assuming current price levels, for future fiscal years as follows:
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Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of supplemental balance sheet information, lease term, and discount rate | Lease information included on the Consolidated Statements of Financial Position are:
The weighted-average remaining lease term and discount rate for lease liabilities included on the Consolidated Statements of Financial Position are:
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| Schedule of lease expenses and supplemental cash flow and other information related to leases | Lease expenses are:
(1) Includes short-term lease costs, which are immaterial. (2) ASC 842 - Leases requires disclosure of payments related to agreements with an embedded lease that are not otherwise reflected on the Consolidated Statements of Financial Position. The Company’s variable lease costs primarily include inventory-related expenses, such as materials, labor, and overhead from manufacturing and service agreements that contain embedded leases. Variability of these costs is determined based on usage or output and may vary for other reasons such as changes in material prices. Supplemental cash flow and other information related to leases for the fiscal year ended are:
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| Schedule of maturities of financing lease liabilities | The maturity of the Company’s lease liabilities as of October 26, 2025, are:
(1) Over the life of the lease contracts, finance lease payments include $3.8 million related to purchase options which are reasonably certain of being exercised. (2) Lease payments exclude $6.3 million of legally binding minimum lease payments for leases signed but not yet commenced as of October 26, 2025.
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| Schedule of maturities of operating lease liabilities | The maturity of the Company’s lease liabilities as of October 26, 2025, are:
(1) Over the life of the lease contracts, finance lease payments include $3.8 million related to purchase options which are reasonably certain of being exercised. (2) Lease payments exclude $6.3 million of legally binding minimum lease payments for leases signed but not yet commenced as of October 26, 2025.
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Long-term Debt and Other Borrowing Arrangements (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 26, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of long-term debt | Long-term Debt consists of:
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| Schedule of interest paid | Total interest paid on debt and other borrowings in the last three fiscal years is as follows:
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Stock-based Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of the number of options outstanding and exercisable | A reconciliation of the number of options outstanding and exercisable as of October 26, 2025, is:
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| Schedule of weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised | The weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised are:
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| Schedule of weighted-average assumptions used to calculate fair value of each option award | The fair value of each option award is calculated on the date of grant using the Black-Scholes valuation model utilizing the following weighted-average assumptions:
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| Schedule of reconciliation of the nonvested shares | A reconciliation of the restricted stock units as of October 26, 2025, is:
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| Schedule of the weighted-average grant date fair value and fair value of nonvested shares granted | The weighted-average grant date fair value of restricted stock units granted, the total fair value of restricted stock units granted, and the fair value of restricted stock units that have vested are:
The weighted-average grant date fair value of restricted shares granted, the total fair value of restricted shares granted, and the fair value of shares that have vested are:
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| Schedule of reconciliation and weighted-average grant date fair value of deferred stock units | A reconciliation of the deferred stock units as of October 26, 2025, is:
The weighted-average grant date fair value of deferred stock units granted, the total fair value of deferred stock units granted, and the fair value of shares released are:
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components of provision for income taxes | The components of the Provision for Income Taxes are as follows:
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| Schedule of significant components of the deferred income tax liabilities and assets | Significant components of the deferred income tax liabilities and assets are as follows:
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| Schedule of reconciliation of the statutory federal income tax rate to the effective tax rate | Reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:
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| Schedule of changes in the unrecognized tax benefits, excluding interest and penalties | The changes in unrecognized tax benefits, excluding interest and penalties, for fiscal 2025 and 2024 are as follows:
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Earnings Per Share Data (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of the shares used in the computation of basic and diluted earnings per share | The shares used as the denominator for those computations are as follows:
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Segment Reporting (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of sales and operating profits for each of the reportable segments and reconciliation to earnings before income taxes | The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. The Company does not represent that these segments, if operated independently, would report the profit and other financial information shown.
The Company’s CODM reviews assets and capital expenditures at a consolidated level and does not use assets by segment to evaluate performance or allocate resources. Therefore, the Company does not disclose these measures by segment. Depreciation and amortization expense is included in the measure of segment profit and disclosed below.
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of total revenues contributed by classes of similar products | Total revenue contributed by classes of similar products are:
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| Schedule of total net sales attributable to U.S. and all foreign countries | Additionally, the Company’s long-lived assets located in foreign countries are not significant. Total net sales attributed to the U.S. and all foreign countries in total are:
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Restructuring (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Oct. 26, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring Costs by Type | A summary of these costs by type is as follows:
|
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| Restructuring and Related Costs | The reconciliation of the beginning and ending liability balance showing activity during the year is as follows:
|
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Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) |
Oct. 26, 2025 |
|---|---|
| Buildings | Minimum | |
| Property, Plant and Equipment | |
| Estimated useful life | 20 years |
| Buildings | Maximum | |
| Property, Plant and Equipment | |
| Estimated useful life | 40 years |
| Equipment and software | Minimum | |
| Property, Plant and Equipment | |
| Estimated useful life | 3 years |
| Equipment and software | Maximum | |
| Property, Plant and Equipment | |
| Estimated useful life | 14 years |
Summary of Significant Accounting Policies - Leases (Details) |
12 Months Ended |
|---|---|
|
Oct. 26, 2025
renewalOption
lease
| |
| Accounting Policies [Abstract] | |
| Finance lease, number of renewal or termination options | 1 |
| Operating lease, number of renewal or termination options | 1 |
| Finance lease, number of leases with residual value guarantee | lease | 1 |
Summary of Significant Accounting Policies - Goodwill and Indefinite-Lived Intangibles (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Indefinite-lived Intangible Assets [Line Items] | |||
| Goodwill, impairment charges | $ 0 | $ 0 | $ 0 |
| Goodwill and Intangible Impairment | 70,751 | 0 | 28,383 |
| Trade Name, Excluding Justin's | |||
| Indefinite-lived Intangible Assets [Line Items] | |||
| Goodwill and Intangible Impairment | $ 0 | $ 0 | $ 0 |
Summary of Significant Accounting Policies - Revenue Recognition (Details) |
12 Months Ended |
|---|---|
Oct. 26, 2025 | |
| Minimum | |
| Revenue from External Customer [Line Items] | |
| Payment term | 7 days |
| Maximum | |
| Revenue from External Customer [Line Items] | |
| Payment term | 60 days |
Summary of Significant Accounting Policies - Advertising Expenses (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Advertising Expenses | |||
| Advertising costs | $ 147.9 | $ 163.3 | $ 160.1 |
Summary of Significant Accounting Policies - Research and Development Expenses (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Research and Development Expenses | |||
| Research and development expense | $ 35.2 | $ 36.1 | $ 33.7 |
Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| Amortization expense | $ 14,854 | $ 16,366 | $ 18,386 |
Goodwill and Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands |
Oct. 26, 2025
USD ($)
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| 2026 | $ 12,428 |
| 2027 | 12,140 |
| 2028 | 11,219 |
| 2029 | 9,751 |
| 2030 | $ 9,326 |
Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Oct. 26, 2025 |
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Goodwill, impairment loss | $ 0 | $ 0 | $ 0 | |
| Goodwill and intangible asset impairment charge | 70,751 | 0 | 28,383 | |
| Impairment Long Lived Asset Held For Use Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag | impairment charge | |||
| Trade Name, Excluding Justin's | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Goodwill and intangible asset impairment charge | 0 | $ 0 | $ 0 | |
| Trade Names, Chi-Chi's | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Goodwill and intangible asset impairment charge | $ 2,900 | |||
| Intangible assets, carrying value | 13,100 | 13,100 | ||
| Trade Names, Planters | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Goodwill and intangible asset impairment charge | 59,100 | |||
| Intangible assets, carrying value | $ 615,900 | $ 615,900 | ||
Investments in Affiliates - Schedule of Distributions Received from Equity Method Investees (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Investment, Affiliated Issuer | |||
| Schedule of Equity Method Investments [Line Items] | |||
| Distributions | $ 50,097 | $ 46,055 | $ 38,160 |
Investments in Affiliates - Schedule of Basis Differences in Equity Method Investments (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Dec. 15, 2022 |
Oct. 26, 2009 |
|---|---|---|---|
| PT Garudafood Putra Putri Jaya Tbk. (Garudafood) | |||
| Schedule of Equity Method Investments [Line Items] | |||
| Unamortized Basis Difference | $ 136,362 | $ 324,828 | |
| MegaMex Foods | |||
| Schedule of Equity Method Investments [Line Items] | |||
| Unamortized Basis Difference | $ 7,609 | $ 21,273 |
Investments in Affiliates - Narrative (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
Oct. 24, 2025 |
|
| Schedule of Equity Method Investments [Line Items] | ||||
| Goodwill and Intangible Impairment | $ 70,751 | $ 0 | $ 28,383 | |
| PT Garudafood Putra Putri Jaya Tbk. (Garudafood) | ||||
| Schedule of Equity Method Investments [Line Items] | ||||
| Fair value of common stock | $ 243,900 | |||
| Carrying value of equity method investments | $ 247,100 | |||
Inventories - Schedule of Principal Components of Inventories (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Inventory Disclosure [Abstract] | ||
| Finished Products | $ 1,055,472 | $ 881,295 |
| Raw Materials and Work-in-Process | 414,436 | 427,834 |
| Operating Supplies | 142,643 | 147,333 |
| Maintenance Materials and Parts | 134,729 | 119,837 |
| Total Inventories | $ 1,747,279 | $ 1,576,300 |
Property, Plant, and Equipment (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Property, Plant and Equipment [Abstract] | ||
| Land | $ 74,710 | $ 75,159 |
| Buildings | 1,537,276 | 1,503,519 |
| Equipment | 3,014,677 | 2,905,058 |
| Construction in Progress | 286,466 | 228,726 |
| Less: Allowance for Depreciation | (2,674,359) | (2,517,734) |
| Property, Plant, and Equipment, Net | $ 2,238,770 | $ 2,194,728 |
Derivatives and Hedging - Outstanding Contracts (Details) - Cash Flow Hedges lb in Millions, gal in Millions, bu in Millions, MMBTU in Millions |
12 Months Ended | |
|---|---|---|
|
Oct. 26, 2025
MMBTU
lb
gal
bu
|
Oct. 27, 2024
MMBTU
lb
bu
gal
|
|
| Corn | ||
| Derivatives and Hedging | ||
| Future contracts, volume (in bushels) | bu | 27.4 | 29.2 |
| Lean Hogs | ||
| Derivatives and Hedging | ||
| Futures contracts, volume (in pounds) | lb | 188.6 | 175.6 |
| Natural Gas | Designated as Hedging | ||
| Derivatives and Hedging | ||
| Futures contracts, energy (in MMBtu) | MMBTU | 3.6 | 4.2 |
| Diesel Fuel | Designated as Hedging | ||
| Derivatives and Hedging | ||
| Future contracts, volume (in bushels) | gal | 7.5 | 4.0 |
Derivatives and Hedging - Fair Value Hedge Assets (Liabilities) (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Accounts Payable | Commodity Contracts | Fair Value Hedges | ||
| Derivatives fair value | ||
| Carrying Amount of Hedged Assets (Liabilities) | $ (157) | $ (2,902) |
Derivatives and Hedging - Effect of AOCL for Gains or Losses (Before Tax) (Details) - Cash Flow Hedges - Designated as Hedging - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Commodity Contracts | |||
| Derivative instruments gains or losses (before tax) | |||
| Gain/(Loss) Reclassified from AOCL into Earnings | $ 5,341 | $ (26,445) | $ 1,225 |
| Commodity Contracts | Cost of Products Sold | |||
| Derivative instruments gains or losses (before tax) | |||
| Gain/(Loss) Recognized in AOCL | 19,637 | (12,898) | |
| Gain/(Loss) Reclassified from AOCL into Earnings | 5,341 | (26,445) | |
| Corn | Cost of Products Sold | |||
| Derivative instruments gains or losses (before tax) | |||
| Excluded component | (74) | 2,136 | |
| Interest Rate Contracts | Interest Expense | |||
| Derivative instruments gains or losses (before tax) | |||
| Gain/(Loss) Reclassified from AOCL into Earnings | $ 988 | $ 988 | |
Pension and Other Postretirement Benefits - Costs and Obligations (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Pension Benefits | |||
| Net periodic cost of defined benefit plans | |||
| Service Cost | $ 43,214 | $ 36,118 | $ 35,607 |
| Interest Cost | 70,584 | 73,344 | 68,630 |
| Expected Return on Plan Assets | (86,948) | (77,510) | (78,285) |
| Amortization of Prior Service Cost (Credit) | 1,277 | (886) | (1,843) |
| Recognized Actuarial Loss (Gain) | 12,055 | 13,268 | 13,303 |
| Special Termination Benefits | 12,696 | 0 | 0 |
| Net Periodic Cost | 52,878 | 44,334 | 37,413 |
| Postretirement Benefits | |||
| Net periodic cost of defined benefit plans | |||
| Service Cost | 167 | 163 | 248 |
| Interest Cost | 9,924 | 11,571 | 12,064 |
| Expected Return on Plan Assets | 0 | 0 | 0 |
| Amortization of Prior Service Cost (Credit) | (28) | 8 | 8 |
| Recognized Actuarial Loss (Gain) | (160) | (1,265) | (29) |
| Special Termination Benefits | 0 | 0 | 0 |
| Net Periodic Cost | $ 9,903 | $ 10,476 | $ 12,290 |
Pension and Other Postretirement Benefits - Actuarial Gains and Losses (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Pension Benefits | ||
| Amounts recognized in accumulated other comprehensive loss | ||
| Unrecognized Prior Service (Cost) Credit | $ (612) | $ (8,435) |
| Unrecognized Actuarial (Loss) Gain | (221,347) | (260,538) |
| Postretirement Benefits | ||
| Amounts recognized in accumulated other comprehensive loss | ||
| Unrecognized Prior Service (Cost) Credit | 513 | 525 |
| Unrecognized Actuarial (Loss) Gain | $ 33,058 | $ 21,318 |
Pension and Other Postretirement Benefits - Change in Benefit Obligation (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Pension Benefits | |||
| Change in Benefit Obligation: | |||
| Benefit Obligation at Beginning of Year | $ 1,339,726 | $ 1,174,380 | |
| Service Cost | 43,214 | 36,118 | $ 35,607 |
| Interest Cost | 70,584 | 73,344 | 68,630 |
| Actuarial (Gain) Loss | 10,988 | 143,280 | |
| Plan Amendments | (6,545) | 0 | |
| Participant Contributions | 0 | 0 | |
| Medicare Part D Subsidy | 0 | 0 | |
| Benefits Paid | (91,906) | (87,396) | |
| Benefit Obligation at End of Year | 1,378,757 | 1,339,726 | 1,174,380 |
| Postretirement Benefits | |||
| Change in Benefit Obligation: | |||
| Benefit Obligation at Beginning of Year | 191,578 | 186,199 | |
| Service Cost | 167 | 163 | 248 |
| Interest Cost | 9,924 | 11,571 | 12,064 |
| Actuarial (Gain) Loss | (11,893) | 12,826 | |
| Plan Amendments | 0 | (654) | |
| Participant Contributions | 1,774 | 2,001 | |
| Medicare Part D Subsidy | 212 | 110 | |
| Benefits Paid | (19,204) | (20,637) | |
| Benefit Obligation at End of Year | $ 172,558 | $ 191,578 | $ 186,199 |
Pension and Other Postretirement Benefits - Change in Plan Assets (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
|
| Pension Benefits | ||
| Change in Plan Assets: | ||
| Fair Value of Plan Assets at Beginning of Year | $ 1,327,760 | $ 1,185,672 |
| Actual Return on Plan Assets | 125,072 | 217,453 |
| Participant Contributions | 0 | 0 |
| Employer Contributions | 13,771 | 12,031 |
| Benefits Paid | (91,906) | (87,396) |
| Fair Value of Plan Assets at End of Year | 1,374,698 | 1,327,760 |
| Funded Status at End of Year | (4,059) | (11,966) |
| Postretirement Benefits | ||
| Change in Plan Assets: | ||
| Fair Value of Plan Assets at Beginning of Year | 0 | 0 |
| Actual Return on Plan Assets | 0 | 0 |
| Participant Contributions | 1,774 | 2,001 |
| Employer Contributions | 17,431 | 18,636 |
| Benefits Paid | (19,204) | (20,637) |
| Fair Value of Plan Assets at End of Year | 0 | 0 |
| Funded Status at End of Year | $ (172,558) | $ (191,578) |
Pension and Other Postretirement Benefits - Amounts in Financial Position (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Amounts recognized in the Consolidated Statements of Financial Position | ||
| Pension Assets | $ 211,826 | $ 205,964 |
| Pension and Postretirement Benefits | (358,984) | (379,891) |
| Pension Benefits | ||
| Amounts recognized in the Consolidated Statements of Financial Position | ||
| Pension Assets | 211,826 | 205,964 |
| Employee-related Expenses | (13,143) | (12,501) |
| Pension and Postretirement Benefits | (202,742) | (205,429) |
| Net Amount Recognized | (4,059) | (11,966) |
| Postretirement Benefits | ||
| Amounts recognized in the Consolidated Statements of Financial Position | ||
| Pension Assets | 0 | 0 |
| Employee-related Expenses | (16,316) | (17,115) |
| Pension and Postretirement Benefits | (156,242) | (174,463) |
| Net Amount Recognized | $ (172,558) | $ (191,578) |
Pension and Other Postretirement Benefits - Accumulated Benefit Obligations (Details) - Pension Benefits - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Accumulated benefit obligation in excess of plan assets | ||
| Projected Benefit Obligation | $ 215,885 | $ 217,929 |
| Accumulated Benefit Obligation | 214,239 | 215,448 |
| Fair Value of Plan Assets | $ 0 | $ 0 |
Pension and Other Postretirement Benefits - Assumptions (Details) - Pension Benefits |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Weighted-average assumptions used to determine benefit obligations | |||
| Discount Rate | 5.44% | 5.44% | |
| Rate of Future Compensation Increase (For Plans that Base Benefits on Final Compensation Level) | 4.04% | 4.09% | |
| Interest Crediting Rate (For Cash Balance Plan) | 4.60% | 4.50% | |
| Weighted-average assumptions used to determine net periodic benefit costs | |||
| Discount Rate | 5.44% | 6.49% | 5.92% |
| Rate of Future Compensation Increase (For Plans that Base Benefits on Final Compensation Level) | 4.09% | 4.06% | 3.95% |
| Expected Long-term Return on Plan Assets | 6.75% | 6.75% | 6.50% |
| Interest Crediting Rate (For Cash Balance Plan) | 4.50% | 4.98% | 4.42% |
Pension and Other Postretirement Benefits - Benefits Expected to be Paid (Details) $ in Thousands |
Oct. 26, 2025
USD ($)
|
|---|---|
| Pension Benefits | |
| Expected future benefit payments | |
| 2026 | $ 110,621 |
| 2027 | 95,713 |
| 2028 | 97,557 |
| 2029 | 100,044 |
| 2030 | 101,979 |
| 2031-2035 | 525,585 |
| Postretirement Benefits | |
| Expected future benefit payments | |
| 2026 | 16,741 |
| 2027 | 17,099 |
| 2028 | 16,559 |
| 2029 | 15,923 |
| 2030 | 15,252 |
| 2031-2035 | $ 63,178 |
Pension and Other Postretirement Benefits - Changes in Fair Value (Details) - Pension Benefits - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
|
| Change in Plan Assets: | ||
| Fair Value of Plan Assets at Beginning of Year | $ 1,327,760 | $ 1,185,672 |
| Fair Value of Plan Assets at End of Year | 1,374,698 | 1,327,760 |
| Significant Unobservable Inputs (Level 3) | ||
| Change in Plan Assets: | ||
| Fair Value of Plan Assets at Beginning of Year | 87,287 | 79,448 |
| Purchases, Issuances, and Settlements (Net) | (7,016) | 1,029 |
| Unrealized Gains (Losses) | 2,586 | (2,144) |
| Realized Gains (Losses) | (569) | 569 |
| Interest and Dividend Income | 27 | 8,385 |
| Fair Value of Plan Assets at End of Year | $ 82,315 | $ 87,287 |
Pension and Other Postretirement Benefits - Commitments (Details) - Pension Benefits - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
|
| Investment commitment | ||
| Unfunded Commitment Balance | $ 53,441 | $ 44,169 |
| Domestic Equity | ||
| Investment commitment | ||
| Unfunded Commitment Balance | 41,159 | 34,111 |
| International Equity | ||
| Investment commitment | ||
| Unfunded Commitment Balance | $ 12,282 | $ 10,058 |
Commitments and Contingencies - Schedule of Commitments (Details) $ in Thousands |
Oct. 26, 2025
USD ($)
|
|---|---|
| Purchase commitments | |
| 2026 | $ 1,229,259 |
| 2027 | 854,304 |
| 2028 | 553,565 |
| 2029 | 324,840 |
| 2030 | 241,015 |
| Later Years | 560,870 |
| Total | $ 3,763,854 |
Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Leases [Abstract] | |||
| Operating Lease Cost | $ 46,355 | $ 42,200 | $ 34,209 |
| Finance Lease Cost | |||
| Amortization of Right-of-Use Assets | 7,872 | 7,562 | 7,594 |
| Interest on Lease Liabilities | 799 | 1,042 | 1,361 |
| Variable Lease Cost | 357,051 | 390,032 | 511,906 |
| Total Lease Cost | $ 412,077 | $ 440,836 | $ 555,070 |
Leases - Schedule of Weighted-Average Information (Details) |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Weighted-average Remaining Lease Term | ||
| Operating Leases | 6 years 6 months | 6 years 1 month 6 days |
| Finance Leases | 3 years 7 months 6 days | 4 years 4 months 24 days |
| Weighted-average Discount Rate | ||
| Operating Leases | 4.43% | 4.43% |
| Finance Leases | 3.33% | 3.27% |
Leases - Schedule of Supplemental Cash Flow and Other Information Related (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Cash Paid for Amounts Included in the Measurement of Lease Liabilities | |||
| Operating Cash Flows from Operating Leases | $ 42,743 | $ 35,619 | $ 29,436 |
| Operating Cash Flows from Finance Leases | 799 | 1,042 | 1,361 |
| Financing Cash Flows from Finance Leases | 7,772 | 8,599 | 8,407 |
| Right-of-Use Assets obtained in exchange for new finance lease liabilities | 2,980 | 55 | 19 |
| Right-of-Use Assets obtained in exchange for new operating lease liabilities | $ 49,889 | $ 48,294 | $ 84,087 |
Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Operating Leases | ||
| 2026 | $ 42,095 | |
| 2027 | 35,084 | |
| 2028 | 26,474 | |
| 2029 | 25,323 | |
| 2030 | 28,034 | |
| 2031 and beyond | 43,571 | |
| Total Lease Payments | 200,580 | |
| Less: Imputed Interest | 32,595 | |
| Present Value of Lease Liabilities | 167,986 | |
| Finance Leases | ||
| 2026 | 6,730 | |
| 2027 | 5,696 | |
| 2028 | 11,358 | |
| 2029 | 830 | |
| 2030 | 145 | |
| 2031 and beyond | 279 | |
| Total Lease Payments | 25,039 | |
| Less: Imputed Interest | 1,917 | |
| Present Value of Lease Liabilities | 23,122 | $ 27,541 |
| Total | ||
| 2026 | 48,825 | |
| 2027 | 40,781 | |
| 2028 | 37,832 | |
| 2029 | 26,152 | |
| 2030 | 28,179 | |
| 2031 and beyond | 43,849 | |
| Total Lease Payments | 225,619 | |
| Less: Imputed Interest | 34,511 | |
| Present Value of Lease Liabilities | 191,109 | |
| Finance lease payments, included amount, purchase asset reasonably certain | 3,800 | |
| Minimum lease payments excluded from lease payments for leases signed but not yet commenced | $ 6,300 |
Long-term Debt and Other Borrowing Arrangements - Schedule of Interest Paid (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Debt Disclosure [Abstract] | |||
| Interest Payments | $ 74,579 | $ 70,286 | $ 57,098 |
Stock-based Compensation - Narrative (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Stock-Based Compensation | |||
| Stock-based compensation expense recognized | $ 25,600 | $ 23,200 | $ 24,100 |
| Stock-based compensation expense unrecognized | $ 23,200 | ||
| Period for recognition of unrecognized stock-based compensation expense | 1 year 7 months 6 days | ||
| Cash received from stock options exercises | $ 22,056 | $ 40,713 | $ 12,018 |
| Number of shares available for future grants (in shares) | 5,300,000 | 8,200,000 | 10,100,000 |
| Stock options | |||
| Stock-Based Compensation | |||
| Vesting period | 4 years | ||
| Stock option expiration period | 10 years | ||
| Time-vested Restricted Stock Units | |||
| Stock-Based Compensation | |||
| Vesting period | 3 years | ||
| Granted (in shares) | 463,000 | ||
| Deferred Stock Units | Share-Based Payment Arrangement, Nonemployee | Director | |||
| Stock-Based Compensation | |||
| Rights to receive common stock after completion of service, number of shares (in shares) | 1 | ||
| Granted (in shares) | 19,000 | ||
Stock-based Compensation - Option Valuation (Details) - Stock options - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Weighted-average grant date fair value of stock options granted, and the total intrinsic value of options exercised | |||
| Weighted-average Grant Date Fair Value (in dollars per share) | $ 6.15 | $ 5.95 | $ 10.06 |
| Intrinsic Value of Exercised Options | $ 4,764 | $ 16,259 | $ 6,350 |
| Weighted-average assumptions used to calculate fair value of each ordinary option award | |||
| Risk-free Interest Rate | 4.30% | 4.10% | 3.50% |
| Dividend Yield | 3.70% | 3.60% | 2.40% |
| Stock Price Volatility | 22.50% | 21.50% | 21.10% |
| Expected Option Life | 7 years 6 months | 7 years 6 months | 7 years 4 months 24 days |
Income Taxes - Provision (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Current | |||
| U.S. Federal | $ 97,519 | $ 110,928 | $ 161,016 |
| State | 17,618 | 17,002 | 20,166 |
| Foreign | 17,675 | 15,203 | 7,576 |
| Total Current | 132,812 | 143,133 | 188,758 |
| Deferred | |||
| U.S. Federal | 46,851 | 74,461 | 23,221 |
| State | 7,658 | 14,868 | 8,602 |
| Foreign | (1,637) | (1,659) | (29) |
| Total Deferred | 52,872 | 87,670 | 31,794 |
| Total Provision for Income Taxes | $ 185,684 | $ 230,803 | $ 220,552 |
Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands |
Oct. 26, 2025 |
Oct. 27, 2024 |
|---|---|---|
| Deferred Tax Liabilities | ||
| Goodwill and Intangible Assets | $ (618,099) | $ (556,263) |
| Tax over Book Depreciation and Basis Differences | (204,612) | (211,554) |
| Other, Net | (32,828) | (39,618) |
| Deferred Tax Assets | ||
| Pension and Other Postretirement Benefits | 43,434 | 50,078 |
| Employee-related Liabilities | 70,803 | 70,339 |
| Marketing and Promotional Accruals | 6,473 | 9,833 |
| Inventory | 8,445 | 6,853 |
| Other, Net | 70,165 | 84,733 |
| Net Deferred Tax (Liabilities) Assets | $ (656,219) | $ (585,599) |
Income Taxes - Rate Reconciliation (Details) |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Reconciliation of the statutory federal income tax rate to the effective tax rate | |||
| U.S. Statutory Rate | 21.00% | 21.00% | 21.00% |
| State Taxes on Income, Net of Federal Tax Benefit | 3.60% | 2.60% | 2.50% |
| Impairment on Equity Method Investment | 5.20% | 0.00% | 0.00% |
| Foreign-derived Intangible Income Deduction | (0.20%) | 0.00% | (1.30%) |
| All Other, Net | (1.60%) | (1.30%) | (0.40%) |
| Effective Tax Rate | 28.00% | 22.30% | 21.80% |
Income Taxes - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Undistributed earnings from non-U.S. subsidiaries | $ 335.7 | ||
| Income taxes paid | 183.5 | $ 186.4 | $ 205.0 |
| Portion of unrecognized tax benefit including interest and penalties, that if recognized, would impact effective tax rate | 16.0 | 15.9 | |
| Accrued interest and penalties, associated with unrecognized tax benefits | $ 2.6 | $ 2.3 | |
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
|
| Changes in unrecognized tax benefits | ||
| Balance at the beginning of the period | $ 17,760 | $ 19,127 |
| Tax Positions Related to the Current Period | ||
| Increases | 3,720 | 3,151 |
| Tax Positions Related to Prior Periods | ||
| Increases | 2,035 | 1,449 |
| Decreases | (1,225) | (443) |
| Settlements | (1,446) | (2,341) |
| Decreases Related to a Lapse of Applicable Statute of Limitations | (3,220) | (3,183) |
| Balance at the end of the period | $ 17,624 | $ 17,760 |
Earnings Per Share Data - Shares Used as Denominator (Details) - shares shares in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Earnings Per Share [Abstract] | |||
| Basic Weighted-average Shares Outstanding (in shares) | 550,164 | 548,129 | 546,421 |
| Dilutive Potential Common Shares (in shares) | 332 | 703 | 2,562 |
| Diluted Weighted-average Shares Outstanding (in shares) | 550,496 | 548,832 | 548,982 |
| Antidilutive Potential Common Shares (in shares) | 16,544 | 17,878 | 6,834 |
Segment Reporting - Narrative (Details) $ in Billions |
12 Months Ended | ||
|---|---|---|---|
|
Oct. 26, 2025
USD ($)
state
segment
|
Oct. 27, 2024
USD ($)
|
Oct. 29, 2023
USD ($)
|
|
| Segment Reporting Information [Line Items] | |||
| Number of segments | segment | 3 | ||
| Number of states selling products | state | 50 | ||
| Walmart | Customer concentration | Revenue Benchmark | |||
| Segment Reporting Information [Line Items] | |||
| Revenue, less returns and allowances | $ | $ 2.0 | $ 2.0 | $ 2.0 |
| Concentration risk, percentage | 15.60% | 15.60% | 15.50% |
Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Operating profit and other financial information | |||
| Total Depreciation and Amortization | $ 263,901 | $ 257,756 | $ 253,311 |
| Operating Segment | Retail | |||
| Operating profit and other financial information | |||
| Total Depreciation and Amortization | 142,824 | 140,103 | 145,690 |
| Operating Segment | Foodservice | |||
| Operating profit and other financial information | |||
| Total Depreciation and Amortization | 80,193 | 78,949 | 74,370 |
| Operating Segment | International | |||
| Operating profit and other financial information | |||
| Total Depreciation and Amortization | 17,174 | 19,151 | 15,627 |
| Corporate | |||
| Operating profit and other financial information | |||
| Total Depreciation and Amortization | $ 23,710 | $ 19,553 | $ 17,623 |
Segment Reporting - Revenues by Classes of Similar Products (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Percentage of revenue by classes of products | |||
| Total Net Sales | $ 12,106,160 | $ 11,920,797 | $ 12,110,010 |
| Perishable | |||
| Percentage of revenue by classes of products | |||
| Total Net Sales | 8,823,022 | 8,548,802 | 8,511,795 |
| Shelf-stable | |||
| Percentage of revenue by classes of products | |||
| Total Net Sales | $ 3,283,138 | $ 3,371,995 | $ 3,598,215 |
Segment Reporting - Revenues by Geographic Locations (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Revenues attributable to U.S. and Foreign countries | |||
| Total Net Sales | $ 12,106,160 | $ 11,920,797 | $ 12,110,010 |
| U.S. | |||
| Revenues attributable to U.S. and Foreign countries | |||
| Total Net Sales | 11,437,051 | 11,283,978 | 11,515,094 |
| Foreign | |||
| Revenues attributable to U.S. and Foreign countries | |||
| Total Net Sales | $ 669,109 | $ 636,819 | $ 594,915 |
Restructuring - Narrative (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
Oct. 26, 2025 |
Oct. 25, 2026 |
Oct. 26, 2025 |
|
| Restructuring Cost and Reserve [Line Items] | |||
| Costs Incurred and Charged to Expense | $ 13,290 | ||
| Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag | restructuring charges | ||
| Professional Fees | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Costs Incurred and Charged to Expense | 594 | ||
| Restructuring costs incurred | $ 600 | $ 600 | |
| Minimum | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Costs Incurred and Charged to Expense | 20,000 | ||
| Minimum | Forecast | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Future cash expenditures | $ 8,000 | ||
| Maximum | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Costs Incurred and Charged to Expense | $ 25,000 | ||
| Maximum | Forecast | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Future cash expenditures | $ 10,000 | ||
Restructuring - Restructuring Costs by Type (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Oct. 26, 2025
USD ($)
| |
| Restructuring Cost and Reserve [Line Items] | |
| Costs Incurred and Charged to Expense | $ 13,290 |
| Professional Fees | |
| Restructuring Cost and Reserve [Line Items] | |
| Costs Incurred and Charged to Expense | 594 |
| Pension Benefits | |
| Restructuring Cost and Reserve [Line Items] | |
| Costs Incurred and Charged to Expense | $ 12,696 |
Restructuring - Schedule of Restructuring and Related Costs (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Oct. 26, 2025
USD ($)
| |
| Restructuring Reserve [Roll Forward] | |
| Liability Balance at October 27, 2024 | $ 0 |
| Costs Incurred and Charged to Expense | 13,290 |
| Costs Paid or Otherwise Settled | 0 |
| Liability Balance at October 26, 2025 | 594 |
| Professional Fees | |
| Restructuring Reserve [Roll Forward] | |
| Costs Incurred and Charged to Expense | $ 594 |
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Oct. 26, 2025 |
Oct. 27, 2024 |
Oct. 29, 2023 |
|
| Change in valuation and qualifying accounts and reserves | |||
| Balance at Beginning of Period | $ 3,712 | $ 3,557 | $ 3,507 |
| Charged to Cost and Expenses | 1,184 | 286 | 289 |
| Charged to Other Accounts (Describe) | 0 | 0 | |
| Deductions-Describe, Uncollectible accounts written off | 3,522 | 337 | 275 |
| Deductions-Describe, Recoveries on accounts previously written off | (2,369) | (206) | (36) |
| Balance at End of Period | $ 3,743 | $ 3,712 | $ 3,557 |