TYSON FOODS, INC., 10-Q filed on 2/6/2023
Quarterly Report
v3.22.4
Document and Entity Information
 3 Months Ended
Dec. 31, 2022
$ / shares
shares
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Dec. 31, 2022
Document Transition Report false
Entity File Number 001-14704
Entity Registrant Name TYSON FOODS, INC.
Entity Tax Identification Number 71-0225165
Entity Addresses [Line Items] 2200 West Don Tyson Parkway,
Entity Address, City or Town Springdale,
Entity Address, State or Province AR
Entity Address, Postal Zip Code 72762-6999
City Area Code (479)
Local Phone Number 290-4000
Entity Listing, Description Class A Common Stock
Entity Listing, Par Value Per Share | $ / shares $ 0.10
Trading Symbol TSN
Security Exchange Name NYSE
Entity Current Reporting Status Yes
Entity Current Interactive Data Filing Status Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Central Index Key 0000100493
Current Fiscal Year End Date --09-30
Document Fiscal Year Focus 2023
Document Fiscal Period Focus Q1
Amendment Flag false
Entity Incorporation, State or Country Code DE
Class A [Member]  
Entity Common Stock, Shares Outstanding 285,615,602
Class B [Member]  
Entity Common Stock, Shares Outstanding 70,010,355
v3.22.4
Consolidated Condensed Statements Of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Sales $ 13,260 $ 12,933
Cost of Sales 12,292 10,918
Gross Profit 968 2,015
Operating Expenses:    
Selling, General and Administrative 501 560
Operating Income 467 1,455
Other (Income) Expense:    
Interest income (9) (3)
Interest expense 84 100
Other, net (42) (52)
Total Other (Income) Expense 33 45
Income before Income Taxes 434 1,410
Income Tax Expense 114 284
Net Income 320 1,126
Less: Net Income Attributable to Noncontrolling Interests 4 5
Net Income Attributable to Tyson $ 316 $ 1,121
Weighted Average Shares Outstanding:    
Diluted, Shares 358 365
Net Income Per Share Attributable to Tyson:    
Diluted (USD per share) $ 0.88 $ 3.07
Class A [Member]    
Weighted Average Shares Outstanding:    
Basic, Shares 286 292
Net Income Per Share Attributable to Tyson:    
Basic (USD per share) $ 0.91 $ 3.16
Class B [Member]    
Weighted Average Shares Outstanding:    
Basic, Shares 70 70
Net Income Per Share Attributable to Tyson:    
Basic (USD per share) $ 0.81 $ 2.84
v3.22.4
Consolidated Condensed Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Statement of Comprehensive Income [Abstract]    
Net Income $ 320 $ 1,126
Other Comprehensive Income (Loss), Net of Taxes:    
Investments 0 (1)
Currency translation 81 (1)
Postretirement benefits 0 2
Total Other Comprehensive Income (Loss), Net of Taxes 82 0
Comprehensive Income 402 1,126
Less: Comprehensive Income Attributable to Noncontrolling Interests 4 5
Comprehensive Income Attributable to Tyson 398 1,121
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax $ 1 $ 0
v3.22.4
Consolidated Condensed Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Oct. 01, 2022
Assets    
Cash and cash equivalents $ 654 $ 1,031
Accounts receivable, net 2,295 2,577
Inventories 5,596 5,514
Other current assets 408 508
Total Current Assets 8,953 9,630
Net Property, Plant and Equipment 9,120 8,685
Goodwill 10,550 10,513
Intangible Assets, net 6,213 6,252
Other Assets 1,842 1,741
Total Assets 36,678 36,821
Liabilities and Shareholders' Equity    
Current debt 490 459
Accounts payable 2,530 2,483
Other current liabilities 2,094 2,371
Total Current Liabilities 5,114 5,313
Long-Term Debt 7,859 7,862
Deferred Income Taxes 2,473 2,458
Other Liabilities 1,445 1,377
Shareholders' Equity:    
Capital in excess of par value 4,524 4,553
Retained earnings 20,225 20,084
Accumulated other comprehensive gain (loss) (215) (297)
Treasury stock, at cost – 92 million shares at December 31, 2022 and 88 million shares at October 1, 2022 (4,944) (4,683)
Total Tyson Shareholders’ Equity 19,635 19,702
Noncontrolling Interests 152 109
Total Shareholders’ Equity 19,787 19,811
Total Liabilities and Shareholders’ Equity 36,678 36,821
Class A [Member]    
Shareholders' Equity:    
Common stock ($0.10 par value): 38 38
Class B [Member]    
Shareholders' Equity:    
Common stock ($0.10 par value): $ 7 $ 7
v3.22.4
Consolidated Condensed Balance Sheets (Parentheticals) - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2022
Oct. 01, 2022
Treasury Stock, shares 83 83
Restricted Cash $ 0  
Class A [Member]    
Common stock, par value $ 0.10 $ 0.10
Common stock, shares authorized 900 900
Common stock, shares issued 378 378
Class B [Member]    
Common stock, par value $ 0.10 $ 0.10
Common stock, shares authorized 900 900
Common stock, shares issued 70 70
v3.22.4
Consolidated Condensed Statements of Shareholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Capital in Excess of Par Value:
Retained Earnings:
Accumulated Other Comprehensive Income (Loss), Net of Tax:
Treasury Stock:
Total Shareholders’ Equity Attributable to Tyson
Equity Attributable to Noncontrolling Interests:
Class B [Member]
Class A [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Common Stock, Value, Issued               $ 7 $ 38
Balance at beginning of quarter, Common Stock Shares at Oct. 02, 2021               70.0 378.0
Balance at beginning of quarter, Shareholders' Equity Attributable to Tyson at Oct. 02, 2021   $ 4,486 $ 17,502 $ (172) $ (4,138)        
Balance at beginning of quarter, Treasury Stock shares at Oct. 02, 2021         83.0        
Balance at beginning of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Oct. 02, 2021             $ 131    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock-based compensation and Other   (15)     $ 92        
Net income attributable to Tyson $ 1,121   1,121            
Dividends     (170)         $ (30) $ (140)
Other comprehensive income 0     0          
Purchase of Class A common stock, shares         4.0       4.2
Payments for Repurchase of Common Stock         $ (348)       $ (348)
Stock-based compensation, shares         (2.0)        
Net income attributable to noncontrolling interests 5           (5)    
Currency translation and other             0    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other 3                
Balance at end of quarter, Common Stock Shares at Jan. 01, 2022               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Jan. 01, 2022   4,471 18,453 (172) $ (4,394) $ 18,403      
Balance at end of quarter, Treasury Stock shares at Jan. 01, 2022         85.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jan. 01, 2022             139    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Balance at end of quarter, Total Shareholders' Equity 18,542                
Common Stock, Value, Issued               $ 7 $ 38
Balance at end of quarter, Total Shareholders' Equity 19,811                
Common Stock, Value, Issued               $ 7 $ 38
Balance at beginning of quarter, Common Stock Shares at Oct. 01, 2022               70.0 378.0
Balance at beginning of quarter, Shareholders' Equity Attributable to Tyson at Oct. 01, 2022 $ 19,702 4,553 20,084 (297) $ (4,683)        
Balance at beginning of quarter, Treasury Stock shares at Oct. 01, 2022 83.0       88.0        
Balance at beginning of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Oct. 01, 2022 $ 109           109    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock-based compensation and Other   (29)     $ 52        
Net income attributable to Tyson 316   316            
Dividends     (175)         $ (32) $ (143)
Other comprehensive income 82     82          
Purchase of Class A common stock, shares         5.0       4.9
Payments for Repurchase of Common Stock         $ (313)       $ (313)
Stock-based compensation, shares         (1.0)        
Net income attributable to noncontrolling interests 4           (4)    
Currency translation and other             28    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other 11                
Balance at end of quarter, Common Stock Shares at Dec. 31, 2022               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Dec. 31, 2022 $ 19,635 $ 4,524 $ 20,225 $ (215) $ (4,944) $ 19,635      
Balance at end of quarter, Treasury Stock shares at Dec. 31, 2022 83.0       92.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Dec. 31, 2022 $ 152           $ 152    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Balance at end of quarter, Total Shareholders' Equity $ 19,787                
Common Stock, Value, Issued               $ 7 $ 38
v3.22.4
Consolidated Condensed Statements Of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Cash Flows From Operating Activities:    
Net Income $ 320 $ 1,126
Depreciation and amortization 303 300
Deferred income taxes 8 77
Other, net 68 11
Net changes in operating assets and liabilities 63 (82)
Cash Provided by Operating Activities 762 1,432
Cash Flows From Investing Activities:    
Additions to property, plant and equipment (589) (408)
Purchases of marketable securities (7) (7)
Proceeds from sale of marketable securities 7 7
Payments to Acquire Businesses, Net of Cash Acquired (39) 0
Payments to Acquire Equity Method Investments (36) (45)
Other, net (5) (6)
Cash Used for Investing Activities (669) (459)
Cash Flows From Financing Activities:    
Proceeds from issuance of debt 54 26
Repayments of Debt and Lease Obligation 58 43
Dividends (169) (164)
Stock options exercised 4 46
Other, net 0 (1)
Cash Used for Financing Activities (482) (484)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations 12 2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (377) 491
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 654 3,128
Restricted Cash 0 172
Cash and cash equivalents 654 2,956
Class A [Member]    
Cash Flows From Financing Activities:    
Purchases of Tyson Class A common stock (313) (348)
Payments for Repurchase of Common Stock $ 313 $ 348
v3.22.4
Other Comprehensive Income (Loss)
 3 Months Ended
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]  
Other Comprehensive Income (Loss) OTHER COMPREHENSIVE INCOME (LOSS)
The before and after-tax changes in the components of other comprehensive income (loss) are as follows (in millions):
Three Months Ended
December 31, 2022January 1, 2022
Before TaxTaxAfter TaxBefore TaxTaxAfter Tax
Derivatives accounted for as cash flow hedges:
(Gain) loss reclassified to interest expense$1 $— $1 $— $— $— 
Investments:
Unrealized gain (loss)— — — (1)— (1)
Currency translation:
Translation adjustment81 — 81 (1)— (1)
Postretirement benefits:
Unrealized gain (loss)— — — 2 — 2 
Total other comprehensive income (loss)$82 $— $82 $— $— $— 
v3.22.4
Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]  
Components Of Other Comprehensive Income (Loss)
The before and after-tax changes in the components of other comprehensive income (loss) are as follows (in millions):
Three Months Ended
December 31, 2022January 1, 2022
Before TaxTaxAfter TaxBefore TaxTaxAfter Tax
Derivatives accounted for as cash flow hedges:
(Gain) loss reclassified to interest expense$1 $— $1 $— $— $— 
Investments:
Unrealized gain (loss)— — — (1)— (1)
Currency translation:
Translation adjustment81 — 81 (1)— (1)
Postretirement benefits:
Unrealized gain (loss)— — — 2 — 2 
Total other comprehensive income (loss)$82 $— $82 $— $— $— 
v3.22.4
Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Other Comprehensive Income Loss [Line Items]    
Total Other Comprehensive Income (Loss), Before Tax $ 82 $ 0
Total Other Comprehensive Income (Loss), Tax 0 0
Total Other Comprehensive Income (Loss), Net of Taxes 82 0
Derivatives accounted for as cash flow hedges: | Interest Expense [Member]    
Other Comprehensive Income Loss [Line Items]    
Reclassification from Accumulated Other Comprehensive Income, Before Tax 1 0
Reclassification from AOCI, Current Period, Tax 0 0
Reclassification from Accumulated Other Comprehensive Income, Net of Tax 1 0
Investments:    
Other Comprehensive Income Loss [Line Items]    
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax 0 (1)
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 0
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax 0 (1)
Currency translation:    
Other Comprehensive Income Loss [Line Items]    
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax 81 (1)
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 0
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax 81 (1)
Postretirement benefits:    
Other Comprehensive Income Loss [Line Items]    
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax 0 2
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 0
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax $ 0 $ 2
v3.22.4
Accounting Policies
 3 Months Ended
Dec. 31, 2022
Policy Text Block [Abstract]  
Accounting Policies ACCOUNTING POLICIES
Basis of Presentation
The consolidated condensed financial statements are unaudited and have been prepared by Tyson Foods, Inc. (“Tyson,” “the Company,” “we,” “us” or “our”). Certain information and accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Although we believe the disclosures contained herein are adequate to make the information presented not misleading, these consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended October 1, 2022. Preparation of consolidated condensed financial statements requires us to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
We believe the accompanying consolidated condensed financial statements contain all adjustments, which are of a normal recurring nature necessary to state fairly our financial position as of December 31, 2022 and the results of operations for the three months ended December 31, 2022 and January 1, 2022. Results of operations and cash flows for the periods presented are not necessarily indicative of results to be expected for the full year.
Consolidation
The consolidated condensed financial statements include the accounts of all wholly-owned subsidiaries, as well as majority-owned subsidiaries over which we exercise control and, when applicable, entities for which we have a controlling financial interest or variable interest entities for which we are the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in consolidation.
Goodwill
Goodwill is initially recorded at fair value and not amortized, but is reviewed for impairment at least annually or more frequently if impairment indicators arise. Our goodwill is evaluated for impairment by first performing a qualitative assessment to determine whether a quantitative goodwill test is necessary. If it is determined, based on qualitative factors, the fair value of the reporting unit may be more likely than not less than carrying amount, or if significant changes to macro-economic factors related to the reporting unit have occurred that could materially impact fair value, a quantitative goodwill impairment test would be required. The quantitative test is to identify if a potential impairment exists by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to that excess, not to exceed the carrying amount of goodwill. During fiscal 2022, we determined that all of our material reporting units’ estimated fair value exceeded their carrying value by more than 20%, other than one of our Chicken segment reporting units and two of our International reporting units with goodwill totaling $0.6 billion and $0.2 billion, respectively, at October 1, 2022. Conditions existed as of the end our first quarter that required an interim assessment of goodwill for two of our International reporting units which had goodwill totaling $0.2 billion at December 31, 2022. Based on the interim assessment, we determined no impairment was necessary as the fair value of the reporting units exceeded their carrying value.
Some of the inherent estimates and assumptions used in determining fair value of the reporting units are outside the control of management, including interest rates, cost of capital, tax rates, market EBITDA comparables and credit ratings. While we believe we have made reasonable estimates and assumptions to calculate the fair value of the reporting units, it is possible a material change could occur. If our actual results are not consistent with our estimates and assumptions used to calculate fair value, it could result in additional material impairments of our goodwill.
Use of Estimates
The consolidated condensed financial statements are prepared in conformity with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the amounts reported in the consolidated condensed financial statements and accompanying notes. Actual results could differ from those estimates. During the first quarter of fiscal 2023, we revised estimates and recorded adjustments of approximately $30 million primarily to reduce certain employee compensation accruals recorded as of October 1, 2022.
Recently Issued Accounting Pronouncements
In September 2022, the Financial Accounting Standards Board (the "FASB") issued guidance that requires additional disclosures for supplier finance programs to allow users to better understand the nature, activity and potential magnitude of the programs. The guidance, except for a requirement for rollforward information, is effective for annual reporting periods and interim periods within those annual reporting periods beginning after December 15, 2022, our fiscal 2024. Disclosure of rollforward information is effective for fiscal years after December 15, 2023, our fiscal 2025. Early adoption is permitted and the retrospective transition method should be applied for all amendments except rollforward information, which should be applied prospectively. We are currently evaluating the impact this guidance will have on our consolidated financial statements.
In March 2020, the FASB issued guidance providing optional expedients and exceptions to account for the effects of reference rate reform to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The optional guidance, which became effective on March 12, 2020 and was set to end on December 31, 2022, was extended by new guidance issued by the FASB on December 21, 2022 to apply through December 31, 2024. The temporary accounting relief provided in the optional guidance has not impacted our consolidated financial statements. The Company has various contracts that reference LIBOR and is assessing how this standard may be applied to specific contract modifications through December 31, 2024.
v3.22.4
Acquisitions and Dispositions
 3 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisitions and Dispositions ACQUISITIONS AND DISPOSITIONSIn the first quarter of fiscal 2023, we completed the acquisition of a 60% equity stake in Supreme Foods Processing Company ("SFPC"), a producer and distributor of value-added and cooked chicken and beef products, and a 15% equity stake in Agricultural Development Company ("ADC"), a fully integrated poultry company, for a total purchase price of approximately $75 million, net of cash acquired. Both SFPC and ADC were subsidiaries of Tanmiah Food Company. The results of SFPC, subsequent to the acquisition closing, are included in International/Other for segment presentation. SFPC's results from the date of acquisition through December 31, 2022 were insignificant to our Consolidated Condensed Statements of Income. We are accounting for the investment in ADC under the equity method.
v3.22.4
Inventories
 3 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
Inventories INVENTORIES
Processed products, livestock and supplies and other are valued at the lower of cost or net realizable value. Cost includes purchased raw materials, live purchase costs, growout costs (primarily feed, livestock grower pay and catch and haul costs), labor and manufacturing and production overhead, which are related to the purchase and production of inventories. At December 31, 2022, the cost of inventories was determined by either the first-in, first-out method or the weighted-average method, which is consistent with the methods used at October 1, 2022.
The following table reflects the major components of inventory (in millions):
December 31, 2022October 1, 2022
Processed products$3,160 $3,188 
Livestock1,535 1,454 
Supplies and other901 872 
Total inventory$5,596 $5,514 
v3.22.4
Property, Plant And Equipment
 3 Months Ended
Dec. 31, 2022
Property, Plant and Equipment, Net [Abstract]  
Property, Plant And Equipment PROPERTY, PLANT AND EQUIPMENT
The major categories of property, plant and equipment and accumulated depreciation are as follows (in millions): 
December 31, 2022October 1, 2022
Land$218 $214 
Buildings and leasehold improvements5,830 5,742 
Machinery and equipment10,036 9,960 
Land improvements and other526 516 
Buildings and equipment under construction1,934 1,461 
18,544 17,893 
Less accumulated depreciation9,424 9,208 
Net Property, Plant and Equipment$9,120 $8,685 
v3.22.4
Restructuring and Related Charges
 3 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Restructuring and Related Charges RESTRUCTURING AND RELATED CHARGES
2022 Program
In the fourth quarter of fiscal 2022, the Company approved a restructuring program (the “2022 Program”), which is expected to improve business performance, increase collaboration, enhance team member agility, enable faster decision-making and reduce redundancies. In conjunction with the 2022 Program, the Company plans to bring together all its corporate team members from the Chicago, Downers Grove and Dakota Dunes area corporate locations to its world headquarters in Springdale, Arkansas, through a phased relocation commencing in early calendar year 2023. We anticipate the 2022 Program and associated expenses will be substantially complete in our fiscal 2025. The following table reflects the total pretax anticipated expenses associated with the 2022 Program (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$23 $8 $7 $51 $12 $101 
Relocation and related costs35 15 1 57 1 109 
Accelerated depreciation6 2 — 12 — 20 
Contract and lease terminations— — — 31 — 31 
Professional and other fees4 1 — 7 1 13 
Total 2022 Program$68 $26 $8 $158 $14 $274 
Restructuring costs include severance expenses, and related charges include costs directly associated with the 2022 Program such as relocation, contract and lease terminations, professional fees and accelerated depreciation resulting from the closure of facilities. We anticipate that $56 million and $218 million of the total pretax anticipated expense will be recorded in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the table above are $256 million of charges that have resulted or will result in cash outflows and $18 million in non-cash charges.
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the first quarter of fiscal 2023 by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$2 $1 $— $4 $5 $12 
Relocation and related costs1 1 1 1 — 4 
Accelerated depreciation2 — — 4 — 6 
Contract and lease terminations— — — (2)— (2)
Professional and other fees— — — 1 — 1 
Total$5 $2 $1 $8 $5 $21 
For the first quarter of fiscal 2023, we recorded restructuring and related charges associated with the 2022 Program of $8 million and $13 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the above results are $17 million of charges that have resulted or will result in cash outflows and $4 million in non-cash charges.
The following table reflects the pretax 2022 Program charges to date by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$18 $6 $6 $40 $8 $78 
Relocation and related costs1 1 1 1 — 4 
Accelerated depreciation2 — — 4 — 6 
Contract and lease terminations— — — (2)— (2)
Professional and other fees— — — 1 — 1 
Total$21 $7 $7 $44 $8 $87 
As of the first quarter of fiscal 2023, we recorded restructuring and related charges to date associated with the 2022 Program of $26 million and $61 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the above results are $83 million of charges to date that have resulted or will result in cash outflows and $4 million in non-cash charges to date.
The following table reflects our liability related to the 2022 Program, which was recognized in other current liabilities in our Consolidated Condensed Balance sheet as of December 31, 2022 (in millions):
Balance at October 1, 2022Restructuring ExpensePaymentsChanges in EstimatesBalance at
December 31, 2022
Severance costs$66 $12 $5 $— $73 
Relocation and related costs— 4 2 — 2 
Professional and other fees— 1 1 — — 
Total$66 $17 $8 $— $75 
As the Company continues to evaluate its business strategies and long-term growth targets, additional restructuring activities may occur.
v3.22.4
Other Current Liabilities
 3 Months Ended
Dec. 31, 2022
Other Liabilities, Current [Abstract]  
Other Current Liabilities OTHER CURRENT LIABILITIES
Other current liabilities are as follows (in millions):
December 31, 2022October 1, 2022
Accrued salaries, wages and benefits$665 $995 
Taxes payable302 277 
Accrued current legal contingencies194 215 
Other933 884 
Total other current liabilities$2,094 $2,371 
v3.22.4
Debt
 3 Months Ended
Dec. 31, 2022
Debt Instruments [Abstract]  
Debt DEBT
The major components of debt are as follows (in millions):
December 31, 2022October 1, 2022
Revolving credit facility$— $— 
Commercial paper— — 
Senior notes:
3.90% Senior notes due September 2023400 400 
3.95% Notes due August 20241,250 1,250 
4.00% Notes due March 2026 (“2026 Notes”)800 800 
3.55% Notes due June 20271,350 1,350 
7.00% Notes due January 202818 18 
4.35% Notes due March 2029 (“2029 Notes”)1,000 1,000 
6.13% Notes due November 2032158 160 
4.88% Notes due August 2034500 500 
5.15% Notes due August 2044500 500 
4.55% Notes due June 2047750 750 
5.10% Notes due September 2048 (“2048 Notes”)1,500 1,500 
Discount on senior notes(38)(39)
Other203 175 
Unamortized debt issuance costs(42)(43)
Total debt8,349 8,321 
Less current debt490 459 
Total long-term debt$7,859 $7,862 
Revolving Credit Facility and Letters of Credit
We have a $2.25 billion revolving credit facility that supports short-term funding needs and serves as a backstop to our commercial paper program. The facility will mature and the commitments thereunder will terminate in September 2026 with options for two one-year extensions. At December 31, 2022, amounts available for borrowing under this facility totaled $2.25 billion and we had no borrowings and no outstanding letters of credit issued under this facility. At December 31, 2022 we had $103 million of bilateral letters of credit issued separately from the revolving credit facility, none of which were drawn upon. Our letters of credit are issued primarily in support of workers’ compensation insurance programs and other legal obligations. In the future, if any of our subsidiaries shall guarantee any of our material indebtedness, such subsidiary shall be required to guarantee the indebtedness, obligations and liabilities under this facility. In November 2022, we entered into an amendment to change the reference rate from the London interbank offered rate (commonly referred to as LIBOR) to a rate based on the secured overnight financing rate (commonly referred to as SOFR).
Commercial Paper Program
We have a commercial paper program under which we may issue unsecured short-term promissory notes up to an aggregate maximum principal amount of $1.5 billion. As of December 31, 2022, we had no commercial paper outstanding. Our ability to access commercial paper in the future may be limited or its costs increased.
Debt Covenants
Our revolving credit facility contains affirmative and negative covenants that, among other things, may limit or restrict our ability to: create liens and encumbrances; incur debt; merge, dissolve, liquidate or consolidate; make acquisitions and investments; dispose of or transfer assets; change the nature of our business; engage in certain transactions with affiliates; and enter into hedging transactions, in each case, subject to certain qualifications and exceptions. In addition, we are required to maintain a minimum interest expense coverage ratio.
Our senior notes also contain affirmative and negative covenants that, among other things, may limit or restrict our ability to: create liens; engage in certain sale/leaseback transactions; and engage in certain consolidations, mergers and sales of assets.
We were in compliance with all debt covenants at December 31, 2022.
v3.22.4
Equity
 3 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Equity EQUITY
Share Repurchases
As of December 31, 2022, 7.3 million shares remained available for repurchase under the Company's share repurchase program. The program has no fixed or scheduled termination date and the timing and extent to which we repurchase shares will depend upon, among other things, our working capital needs, markets, industry conditions, liquidity targets, limitations under our debt obligations and regulatory requirements. In addition to the share repurchase program, we purchase shares on the open market to fund certain obligations under our equity compensation plans. A summary of share repurchases of our Class A stock is as follows (in millions):
Three Months Ended
December 31, 2022January 1, 2022
SharesDollarsSharesDollars
Shares repurchased:
Under share repurchase program4.7 $300 3.6 $300 
To fund certain obligations under equity compensation plans0.2 13 0.6 48 
Total share repurchases4.9 $313 4.2 $348 
v3.22.4
Income Taxes
 3 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Our effective tax rate was 26.1% and 20.2% for the first quarter of fiscal 2023 and 2022, respectively. The effective tax rate for the first quarter of fiscal 2023 was higher than the federal statutory tax rate primarily due to state taxes. The effective tax rate for the first quarter of fiscal 2022 includes the impact of state taxes, offset by a $36 million benefit from the remeasurement of deferred income taxes, primarily due to legislation decreasing state tax rates enacted in the first quarter of fiscal 2022, and various other tax benefits.
Unrecognized tax benefits were $154 million and $152 million at December 31, 2022 and October 1, 2022, respectively.
In December 2021, we received an assessment from the Mexican tax authorities related to the 2015 sale of our direct and indirect equity interests in subsidiaries which held our Mexico operations. The assessment totals approximately $411 million (8.3 billion Mexican pesos), which includes tax, inflation adjustment, interest and penalties. We believe the assertions made in the assessment letter have no merit and will defend our positions through the Mexican administrative appeal process and litigation, if necessary. Based on our analysis of this assessment in accordance with FASB guidance related to unrecognized tax benefits, we have not recorded a liability related to the issue.
v3.22.4
Earnings Per Share
 3 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data): 
Three Months Ended
December 31, 2022January 1, 2022
Numerator:
Net income$320 $1,126 
Less: Net income attributable to noncontrolling interests4 5 
Net income attributable to Tyson316 1,121 
Less dividends declared:
Class A 143 140 
Class B 32 30 
Undistributed earnings$141 $951 
Class A undistributed earnings$116 $782 
Class B undistributed earnings25 169 
Total undistributed earnings$141 $951 
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares286 292 
Class B weighted average shares, and shares under the if-converted method for diluted earnings per share70 70 
Effect of dilutive securities:
Stock options, restricted stock and performance units2 3 
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions358 365 
Net income per share attributable to Tyson:
Class A basic$0.91 $3.16 
Class B basic$0.81 $2.84 
Diluted$0.88 $3.07 
Dividends Declared Per Share:
Class A$0.500 $0.475 
Class B$0.450 $0.428 
Approximately 4 million and 2 million of our stock-based compensation shares were antidilutive for the three months ended December 31, 2022 and January 1, 2022, respectively. These shares were not included in the diluted earnings per share calculation.
We have two classes of capital stock, Class A stock and Class B stock. Cash dividends cannot be paid to holders of Class B stock unless they are simultaneously paid to holders of Class A stock. The per share amount of cash dividends paid to holders of Class B stock cannot exceed 90% of the cash dividends paid to holders of Class A stock.
We allocate undistributed earnings based upon a 1.0 to 0.9 ratio per share to Class A stock and Class B stock, respectively. We allocate undistributed earnings based on this ratio due to historical dividend patterns, voting control of Class B shareholders and contractual limitations of dividends to Class B stock.
v3.22.4
Derivative Financial Instruments
 3 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments DERIVATIVE FINANCIAL INSTRUMENTSOur business operations give rise to certain market risk exposures mostly due to changes in commodity prices, foreign currency exchange rates and interest rates. We manage a portion of these risks through the use of derivative financial instruments to reduce our exposure to commodity price risk, foreign currency risk and interest rate risk. Our risk management programs are periodically reviewed by our Board of Directors’ Audit Committee. These programs and risks are monitored by senior management and may be revised as market conditions dictate. Our current risk management programs utilize various industry-standard models that take into account the implicit cost of hedging. Credit risks associated with our derivative contracts are not significant as we minimize counterparty exposure by dealing with credit-worthy counterparties and utilizing exchange traded instruments, margin accounts or letters of credit. Additionally, our derivative contracts are mostly short-term in duration and we generally do not make use of credit-risk-related contingent features. No significant concentrations of credit risk existed at December 31, 2022.
We had the following net aggregated outstanding notional amounts related to our derivative financial instruments:
in millions, except soybean meal tonsMetricDecember 31, 2022October 1, 2022
Commodity:
CornBushels61 44 
Soybean MealTons574,600 532,700 
Live CattlePounds143 280 
Lean HogsPounds338 339 
Foreign CurrencyUnited States dollar$164 $249 
We recognize all derivative instruments as either assets or liabilities at fair value in the Consolidated Condensed Balance Sheets, with the exception of normal purchases and normal sales expected to result in physical delivery. For those derivative instruments that are designated and qualify as hedging instruments, we designate the hedging instrument based upon the exposure being hedged (e.g., cash flow hedge or fair value hedge). We designate certain forward contracts as follows:
•Cash Flow Hedges – include certain commodity forward and option contracts of forecasted purchases (e.g., grains), interest rate swaps and locks and certain foreign exchange forward contracts
•Fair Value Hedges – include certain commodity forward contracts of firm commitments (e.g., livestock)
Cash Flow Hedges
Derivative instruments are designated as hedges against changes in the amount of future cash flows related to procurement of certain commodities utilized in our production processes as well as interest rates to our variable rate debt. For the derivative instruments we designate and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (“OCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses representing hedge ineffectiveness are recognized in earnings in the current period. Ineffectiveness related to our cash flow hedges was not significant for the three months ended December 31, 2022, and January 1, 2022. As of December 31, 2022, we had $13 million of realized losses related to treasury rate locks in connection with the issuance of the 2026, 2029 and 2048 Notes, which will be reclassified to earnings over the lives of these notes. During the three months ended December 31, 2022 and January 1, 2022, we did not reclassify significant pretax gains or losses into earnings as a result of the discontinuance of cash flow hedges. For the three months ended December 31, 2022 and January 1, 2022, we had no gains or losses recognized in OCI on derivatives designated as cash flow hedges.
Fair Value Hedges
We designate certain derivative contracts as fair value hedges of firm commitments to purchase livestock for harvest. Our objective of these hedges is to minimize the risk of changes in fair value created by fluctuations in commodity prices associated with fixed price livestock firm commitments. For these derivative instruments we designate and qualify as a fair value hedge, the gain or loss on the derivative, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in earnings in the same period. We include the gain or loss on the hedged items (e.g., livestock purchase firm commitments) in the same line item, Cost of Sales, as the offsetting gain or loss on the related livestock forward position. Ineffectiveness related to fair value hedges was not significant for the three months ended December 31, 2022, and January 1, 2022. The following table sets forth the carrying amount of fair value hedge (assets) liabilities as of December 31, 2022 and October 1, 2022 (in millions):
Consolidated Condensed Balance Sheets ClassificationDecember 31, 2022October 1, 2022
Inventory$7 $(12)
Undesignated Positions
In addition to our designated positions, we also hold derivative contracts for which we do not apply hedge accounting. These include certain derivative instruments related to commodities price risk, including grains, livestock, energy and foreign currency risk. We mark these positions to fair value through earnings at each reporting date.
Reclassification to Earnings
The following table sets forth the total amounts of each income and expense line item presented in the Consolidated Condensed Statements of Income in which the effects of hedges are recorded (in millions):
Consolidated Condensed Statements of Income ClassificationThree Months Ended
December 31, 2022January 1, 2022
Cost of Sales$12,292 $10,918 
Interest Expense84 100 
Other, net(42)(52)
The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Condensed Statements of Income (in millions):
Consolidated Condensed Statements of Income ClassificationThree Months Ended
December 31, 2022January 1, 2022
Cost of SalesGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Commodity contracts$— $— 
Gain (Loss) on fair value hedges:
Commodity contracts (a) (3)(3)
Gain (Loss) on derivatives not designated as hedging instruments:
Commodity contracts15 81 
Total$12 $78 
Interest ExpenseGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Interest rate contracts$(1)$— 
Other, netGain (Loss) on derivatives not designated as hedging instruments:
Foreign exchange contracts$5 $— 
(a) Amounts represent gains/(losses) on commodity contracts designated as fair value hedges of firm commitments that were realized during the period presented, which were offset by a corresponding gain/(loss) on the underlying hedged inventory. Gains or losses related to changes in the fair value of unrealized commodity contracts, along with the offsetting gain or loss on the hedged inventory, are also marked-to-market through earnings with no impact on a net basis.
The fair value of all outstanding derivative instruments in the Consolidated Condensed Balance Sheets are included in Note 12: Fair Value Measurements.
v3.22.4
Fair Value Measurements
 3 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy contains three levels as follows:
Level 1 — Unadjusted quoted prices available in active markets for the identical assets or liabilities at the measurement date.
Level 2 — Other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including:
•Quoted prices for similar assets or liabilities in active markets;
•Quoted prices for identical or similar assets in non-active markets;
•Inputs other than quoted prices that are observable for the asset or liability; and
•Inputs derived principally from or corroborated by other observable market data.
Level 3 — Unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability.
The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions): 
December 31, 2022Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $1 $— $— $1 
Undesignated — 110 — (38)72 
Available-for-sale securities (current)— 2 — — 2 
Other Assets:
Available-for-sale securities (non-current)— 67 33 — 100 
Deferred compensation assets29 357 — — 386 
Total assets$29 $537 $33 $(38)$561 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $8 $— $(8)$— 
Undesignated — 70 — (60)10 
Total liabilities$— $78 $— $(68)$10 
October 1, 2022Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $14 $— $(6)$8 
Undesignated — 154 — (58)96 
Available-for-sale securities (current)— 1 — — 1 
Other Assets:
Available-for-sale securities (non-current)— 65 35 — 100 
Deferred compensation assets38 327 — — 365 
Total assets$38 $561 $35 $(64)$570 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $2 $— $(2)$— 
Undesignated — 106 — (72)34 
Total liabilities$— $108 $— $(74)$34 
(a) Our derivative assets and liabilities are presented in our Consolidated Condensed Balance Sheets on a net basis when a legally enforceable master netting arrangement exists between the counterparty to a derivative contract and us. Additionally, at December 31, 2022, and October 1, 2022, we had $30 million and $10 million, respectively, of net cash collateral with various counterparties where master netting arrangements exist and held no cash collateral.
The following table provides a reconciliation between the beginning and ending balance of marketable debt securities measured at fair value on a recurring basis in the table above that used significant unobservable inputs (Level 3) (in millions): 
Three Months Ended
December 31, 2022January 1, 2022
Balance at beginning of year$35 $48 
Total realized and unrealized gains (losses):
Included in other comprehensive income (loss)— (1)
Purchases2 1 
Issuances— — 
Settlements(4)(2)
Balance at end of period$33 $46 
Total gains (losses) for the three month period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of period
$— $— 
The following methods and assumptions were used to estimate the fair value of each class of financial instrument:
Derivative Assets and Liabilities
Our derivative financial instruments primarily include exchange-traded and over-the-counter contracts which are further described in Note 11: Derivative Financial Instruments. We record our derivative financial instruments at fair value using quoted market prices, adjusted where necessary for credit and non-performance risk and internal models that use readily observable market inputs as their basis, including current and forward market prices and rates. We classify these instruments in Level 2 when quoted market prices can be corroborated utilizing observable current and forward commodity market prices on active exchanges or observable market transactions.
Available-for-Sale Securities
Our investments in marketable debt securities are classified as available-for-sale and are reported at fair value based on pricing models and quoted market prices adjusted for credit and non-performance risk. Short-term investments with maturities of less than 12 months are included in Other current assets in the Consolidated Condensed Balance Sheets. All other marketable debt securities are included in Other Assets in the Consolidated Condensed Balance Sheets and have maturities generally less than 47 years.
We classify our investments in U.S. government, U.S. agency, certificates of deposit and commercial paper debt securities as Level 2 as fair value is generally estimated using discounted cash flow models that are primarily industry-standard models that consider various assumptions, including time value and yield curve as well as other readily available relevant economic measures. We classify certain corporate, asset-backed and other debt securities as Level 3 as there is limited activity or less observable inputs into valuation models, including current interest rates and estimated prepayment, default and recovery rates on the underlying portfolio or structured investment vehicle. Significant changes to assumptions or unobservable inputs in the valuation of our Level 3 instruments would not have a significant impact to our consolidated condensed financial statements.
The following table sets forth our available-for-sale securities’ amortized cost basis, fair value and unrealized gain (loss) by significant investment category (in millions):
December 31, 2022October 1, 2022
Amortized
Cost Basis		Fair
Value		Unrealized
Gain (Loss)		Amortized
Cost Basis		Fair
Value		Unrealized
Gain (Loss)
Available-for-sale securities:
Debt securities:
U.S. treasury and agency$74 $69 $(5)$71 $66 $(5)
Corporate and asset-backed35 33 (2)37 35 (2)
Unrealized holding gains (losses), net of tax, are excluded from earnings and reported in OCI until the security is settled or sold. On a quarterly basis, we evaluate whether losses related to our available-for-sale securities are due to credit or non-credit factors. Losses on debt securities where we have the intent, or will more than likely be required, to sell the security prior to recovery, would be recorded as a direct write-off of amortized cost basis through earnings. Losses on debt securities where we do not have the intent, or would not more than likely be required to sell the security prior to recovery, would be further evaluated to determine whether the loss is credit or non-credit related. Credit-related losses would be recorded through an allowance for credit losses through earnings and non-credit related losses through OCI.
We consider many factors in determining whether a loss is credit-related, including the financial condition and near-term prospects of the issuer, borrower repayment characteristics for asset-backed securities, and our ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery. We recognized no direct write-offs or allowances for credit losses in earnings for the three months ended December 31, 2022, and January 1, 2022.
Deferred Compensation Assets
We maintain non-qualified deferred compensation plans for certain executives and other highly compensated team members. Investments are generally maintained within a trust and include money market funds, mutual funds and life insurance policies. The cash surrender value of the life insurance policies is invested primarily in mutual funds. The investments are recorded at fair value based on quoted market prices and are included in Other Assets in the Consolidated Condensed Balance Sheets. We classify the investments which have observable market prices in active markets in Level 1 as these are generally publicly-traded mutual funds. The remaining deferred compensation assets are classified in Level 2, as fair value can be corroborated based on observable market data. Realized and unrealized gains (losses) on deferred compensation are included in earnings.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
In addition to assets and liabilities that are recorded at fair value on a recurring basis, we record assets and liabilities at fair value on a nonrecurring basis. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges and, with respect to our equity investments without readily determinable fair values, recorded by applying the measurement alternative for which such investments are recorded at cost and adjusted for an observable price change in an orderly transaction for an identical or similar investment of the same issuer.
In the three months ended January 1, 2022, we recognized gains of $30 million in Other, net in the Consolidated Condensed Statements of Income, based upon observable price changes. Equity investments without readily determinable fair values are measured using Level 3 inputs and are included in Other Assets in the Consolidated Condensed Balance Sheets. We did not have any significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition during the three months ended December 31, 2022.
Other Financial Instruments
Fair value of our debt is principally estimated using Level 2 inputs based on quoted prices for those or similar instruments. Fair value and carrying value for our debt are as follows (in millions):
December 31, 2022October 1, 2022
Fair ValueCarrying ValueFair ValueCarrying Value
Total debt$7,840 $8,349 $7,762 $8,321 
v3.22.4
Segment Reporting
 3 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
We operate in four reportable segments: Beef, Pork, Chicken, and Prepared Foods. We measure segment profit as operating income (loss). International/Other primarily includes our foreign operations in Australia, China, Malaysia, Mexico, the Netherlands, South Korea and Thailand, third-party merger and integration costs and corporate overhead related to Tyson New Ventures, LLC.
Beef
Beef includes our operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international export markets. This segment also includes sales from specialty products such as hides and variety meats, as well as logistics operations to move products through the supply chain.
Pork
Pork includes our operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and case-ready products. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international export markets. This segment also includes our live swine group, related specialty product processing activities and logistics operations to move products through the supply chain.
Chicken
Chicken includes our domestic operations related to raising and processing live chickens into, and purchasing raw materials for fresh, frozen and value-added chicken products, as well as sales from specialty products. Our value-added chicken products primarily include breaded chicken strips, nuggets, patties and other ready-to-fix or fully cooked chicken parts. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities, the military and other food processors, as well as to international export markets. This segment also includes logistics operations to move products through our domestic supply chain and the global operations of our chicken breeding stock subsidiary.
Prepared Foods
Prepared Foods includes our operations related to manufacturing and marketing frozen and refrigerated food products and logistics operations to move products through the supply chain. This segment includes brands such as Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, State Fair®, as well as artisanal brands Aidells® and Gallo Salame®. Products primarily include ready-to-eat sandwiches, sandwich components such as flame-grilled hamburgers and Philly steaks, pepperoni, bacon, breakfast sausage, turkey, lunchmeat, hot dogs, flour and corn tortilla products, appetizers, snacks, prepared meals, ethnic foods, side dishes, meat dishes, breadsticks and processed meats. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities, the military and other food processors, as well as to international export markets.
We allocate expenses related to corporate activities to the segments, except for third-party merger and integration costs and corporate overhead related to Tyson New Ventures, LLC, which are included in International/Other. Intersegment transactions, which were at market prices, are included in the segment sales in the table below.
Information on segments and a reconciliation to income before income taxes are as follows (in millions): 
Three Months Ended
December 31, 2022January 1, 2022
Sales:
Beef$4,723 $5,002 
Pork1,529 1,626 
Chicken4,263 3,890 
Prepared Foods2,538 2,333 
International/Other612 550 
Intersegment(405)(468)
Total Sales$13,260 $12,933 
Three Months Ended
December 31, 2022January 1, 2022
Operating Income (Loss):
Beef(a)
$166 $956 
Pork(21)164 
Chicken(b)
69 140 
Prepared Foods258 186 
International/Other(5)9 
Total Operating Income467 1,455 
Total Other (Income) Expense33 45 
Income before Income Taxes$434 $1,410 
(a) Beef segment results for the three months ended December 31, 2022 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.
(b) Chicken segment results for the three months ended December 31, 2022 included $7 million of costs related to a fire at one of our production facilities, net of insurance proceeds, recognized in Cost of Sales. Additionally, Chicken segment results for the three months ended January 1, 2022 included $23 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales, related to a fire at our production facility in the fourth quarter of fiscal 2021.

The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended December 31, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,134 $1,129 $697 $647 $116 $4,723 
Pork458 117 332 350 272 1,529 
Chicken1,881 1,606 246 513 17 4,263 
Prepared Foods1,505 938 56 39 — 2,538 
International/Other— — 612 — — 612 
Intersegment— — — — (405)(405)
Total$5,978 $3,790 $1,943 $1,549 $— $13,260 
Three months ended January 1, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,218 $1,236 $856 $562 $130 $5,002 
Pork478 136 304 398 310 1,626 
Chicken1,633 1,560 221 448 28 3,890 
Prepared Foods1,325 929 46 33 — 2,333 
International/Other— — 550 — — 550 
Intersegment— — — — (468)(468)
Total$5,654 $3,861 $1,977 $1,441 $— $12,933 
(a) Includes sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.
(b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.
(c) Includes sales to international markets for internationally produced products or export sales of domestically produced products.
(d) Includes sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories.
v3.22.4
Commitments And Contingencies
 3 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments And Contingencies COMMITMENTS AND CONTINGENCIES
Commitments
We guarantee obligations of certain outside third parties, consisting primarily of grower loans, which are substantially collateralized by the underlying assets. The remaining terms of the underlying obligations cover periods up to 8 years, and the maximum potential amount of future payments as of December 31, 2022, was not significant. The likelihood of material payments under these guarantees is not considered probable. At December 31, 2022 and October 1, 2022, no significant liabilities for guarantees were recorded.
We have cash flow assistance programs in which certain livestock suppliers participate. Under these programs, we pay an amount for livestock equivalent to a standard cost to grow such livestock during periods of low market sales prices. The amounts of such payments that are in excess of the market sales price are recorded as receivables and accrue interest. Participating suppliers are obligated to repay these receivables balances when market sales prices exceed this standard cost, or upon termination of the agreement. Our maximum commitment associated with these programs is limited to the fair value of each participating livestock supplier’s net tangible assets. The potential maximum commitment as of December 31, 2022 was approximately $290 million. The total receivables under these programs were $7 million and $6 million at December 31, 2022 and October 1, 2022, respectively. These receivables are included, net of allowance for uncollectible amounts, in Accounts Receivable in our Consolidated Condensed Balance Sheets. Even though these programs are limited to the net tangible assets of the participating livestock suppliers, we also manage a portion of our credit risk associated with these programs by obtaining security interests in livestock suppliers’ assets. After analyzing residual credit risks and general market conditions, we had no allowance for these programs’ estimated uncollectible receivables at December 31, 2022, and January 1, 2022.
When constructing new facilities or making major enhancements to existing facilities, we will occasionally enter into incentive agreements with local government agencies in order to reduce certain state and local tax expenditures. These funds are generally considered restricted cash, which is reported in the Consolidated Condensed Balance Sheets in Other Assets. We had no deposits at December 31, 2022 and October 1, 2022. Additionally, under certain agreements, we transfer the related assets to various local government entities and receive Industrial Revenue Bonds. We immediately lease the facilities from the local government entities and have an option to re-purchase the facilities for a nominal amount upon tendering the Industrial Revenue Bonds to the local government entities at various predetermined dates. The Industrial Revenue Bonds and the associated obligations for the leases of the facilities offset, and the underlying assets remain in property, plant and equipment. At December 31, 2022, the total amount under these types of arrangements totaled $797 million.
Contingencies
In the normal course of business, we are involved in various claims, lawsuits, investigations and legal proceedings, including those specifically identified below. Each quarter, we determine whether to accrue for loss contingencies based on our assessment of whether the potential loss is probable, reasonably possible or remote and to the extent a loss is probable, whether it is reasonably estimable. We record accruals in the Company’s Consolidated Financial Statements for matters that we conclude are probable and the financial impact is reasonably estimable. Regardless of the manner of resolution, frequently the most significant changes in the status of a matter may occur over a short time period, often following a lengthy period of little substantive activity. While these accruals reflect the Company’s best estimate of the probable loss for those matters as of the dates of those accruals, the recorded amounts may differ materially from the actual amount of the losses for those matters. Listed below are certain claims made against the Company for which the magnitude of the potential exposure could be material to the Company’s Consolidated Financial Statements. There were no significant changes to our loss contingency accruals reflected in the Company’s Consolidated Condensed Statements of Income for the three months ended December 31, 2022 and January 1, 2022.
Broiler Antitrust Civil Litigation
Beginning in September 2016, a series of purported federal class action lawsuits styled In re Broiler Chicken Antitrust Litigation (the “Broiler Antitrust Civil Litigation”) were filed in the United States District Court for the Northern District of Illinois against us and certain of our poultry subsidiaries, as well as several other poultry processing companies. The operative complaints, which have been amended throughout the litigation, contain allegations that, among other things, assert that beginning in January 2008, the defendants conspired and combined to fix, raise, maintain, and stabilize the price of broiler chickens in violation of United States antitrust laws. The plaintiffs also allege that defendants “manipulated and artificially inflated a widely used Broiler price index, the Georgia Dock.” The plaintiffs further allege that the defendants concealed this conduct from the plaintiffs and the members of the putative classes. The plaintiffs seek treble damages, injunctive relief, pre- and post-judgment interest, costs, and attorneys’ fees on behalf of the putative classes. In addition, the complaints on behalf of the putative classes of indirect purchasers include causes of action under various state unfair competition laws, consumer protection laws, and unjust enrichment common laws. Since the original filing, certain putative class members have opted out of the matter and are proceeding with individual direct actions making similar claims, and others may do so in the future.
Settlements
On January 19, 2021, we announced that we had reached agreements to settle certain class claims related to the Broiler Antitrust Civil Litigation. Settlement terms were reached with the putative Direct Purchaser Plaintiff Class, the putative Commercial and Institutional Indirect Purchaser Plaintiff Class and the putative End-User Plaintiff Class (collectively, the “Classes”). Under the terms of the settlements, we agreed to pay the Classes an aggregate amount of $221.5 million in settlement of all outstanding claims brought by the Classes. On February 23, 2021, March 22, 2021 and October 15, 2021, the Court granted preliminary approval of the settlements with the putative Direct Purchaser Plaintiff Class, the putative End-User Plaintiff Class and the putative Commercial and Institutional Indirect Purchaser Plaintiff Class, respectively. On June 29, 2021, December 20, 2021 and April 18, 2022, the Court granted final approval to the settlements with the Direct Purchaser Plaintiff Class, the End-User Plaintiff Class and the Commercial and Institutional Indirect Purchaser Plaintiff Class, respectively. The foregoing settlements do not settle claims made by plaintiffs who opt out of the Classes in the Broiler Antitrust Civil Litigation.
We are currently pursuing settlement discussions with the remaining opt-out plaintiffs with respect to the remaining claims. While we do not admit any liability as part of the settlements, we believe that the settlements were in the best interests of the Company and its shareholders to avoid the uncertainty, risk, expense and distraction of protracted litigation. During the first quarter of fiscal 2023 and the full fiscal 2022, the Company reduced its total recorded legal contingency accrual by $11 million and $179 million, respectively, for amounts it had paid in connection with settlements related to this matter. Accordingly, at December 31, 2022 and October 1, 2022, the legal contingency accrual for claims related to this matter was $111 million and $122 million, respectively.
Government Investigations
U.S. Department of Justice (“DOJ”) Antitrust Division. On June 21, 2019, the DOJ filed a motion to intervene and sought a limited stay of discovery in the Broiler Antitrust Civil Litigation, which the court granted in part. Subsequently, we received a grand jury subpoena from the DOJ seeking additional documents and information related to the chicken industry. On June 2, 2020, a grand jury for the District of Colorado returned an indictment charging four individual executives employed by two other poultry processing companies with conspiracy to engage in bid-rigging in violation of federal antitrust laws. On June 10, 2020, we announced that we uncovered information in connection with the grand jury subpoena that we had previously self-reported to the DOJ and have been cooperating with the DOJ as part of our application for leniency under the DOJ’s Corporate Leniency Program. Subsequently, the DOJ has announced indictments against additional individuals, as well as other poultry processing companies, alleging a conspiracy to fix prices and rig bids for broiler chicken products from at least 2012 until at least early 2019. In August 2021, the Company was granted conditional leniency by the DOJ for the matters we self-reported, which means that provided the Company continues to cooperate with the DOJ, neither the Company nor any of our cooperating employees will face prosecution or criminal fines or penalties. We continue to cooperate with the DOJ in connection with the ongoing federal antitrust investigation.
State Matters. The Offices of the Attorney General in New Mexico, Alaska and Washington have filed complaints against us and certain of our poultry subsidiaries, as well as several other poultry processing companies and Agri Stats, Inc., an information services provider (“Agri Stats”). The complaints are based on allegations similar to those asserted in the Broiler Antitrust Civil Litigation and allege violations of state antitrust, unfair trade practice, and unjust enrichment laws. In October 2022, we reached an agreement to settle all claims with the Washington Attorney General for $10.5 million for which the Company recorded an accrual in its Consolidated Financial Statements as of October 1, 2022, and on October 24, 2022, the Court entered the related consent decree resolving all claims in this matter between us and the Washington Attorney General. The Company paid the settlement during the first quarter of fiscal 2023. While we do not admit any liability as part of the settlement, we believe that the settlement was in the best interests of the Company and its shareholders to avoid the uncertainty, risk, expense and distraction of protracted litigation. In addition, we are cooperating with various state governmental agencies and officials, including the Offices of the Attorney General for Florida and Louisiana, investigating or otherwise seeking information, testimony and/or documents, regarding the conduct alleged in the Broiler Antitrust Civil Litigation and related matters.
Broiler Chicken Grower Litigation
On January 27, 2017 and March 26, 2017, putative class action complaints were filed against us and certain of our poultry subsidiaries, as well as several other vertically integrated poultry processing companies, in the United States District Court for the Eastern District of Oklahoma styled In re Broiler Chicken Grower Litigation. The plaintiffs allege, among other things, that the defendants colluded not to compete for broiler raising services “with the purpose and effect of fixing, maintaining, and/or stabilizing grower compensation below competitive levels.” The plaintiffs also allege that the defendants “agreed to share detailed data on [g]rower compensation with one another, with the purpose and effect of artificially depressing [g]rower compensation below competitive levels.” The plaintiffs contend these alleged acts constitute violations of the Sherman Antitrust Act and Section 202 of the Grain Inspection, Packers and Stockyards Act of 1921. The plaintiffs are seeking treble damages, pre- and post-judgment interest, costs, and attorneys’ fees on behalf of the putative class. Additional named plaintiffs filed similar class action complaints in federal district courts in North Carolina, Colorado, Kansas and California. All actions were subsequently consolidated in the Eastern District of Oklahoma. In June 2021, we reached an agreement to settle with the putative class of broiler chicken farmers all claims raised in this consolidated action on terms not material to the Company for which the Company recorded an accrual in its Consolidated Financial Statements as of October 2, 2021. The Court granted preliminary approval of the settlement on August 23, 2021 and final approval on February 18, 2022, and the Company paid the settlement during fiscal 2022.
The DOJ’s Antitrust Division has opened a civil investigation into grower contracts and performance-based compensation. We are cooperating with the investigation.
Pork Antitrust Litigation
Beginning June 18, 2018, a series of putative class action complaints were filed against us and certain of our pork subsidiaries, as well as several other pork processing companies, in the United States District Court for the District of Minnesota styled In re Pork Antitrust Litigation (the “Pork Antitrust Civil Litigation”). The plaintiffs allege, 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 in violation of federal antitrust laws. The complaints on behalf of the putative 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 on behalf of the putative classes. Since the original filing, certain putative class members have opted out of the matter and are proceeding with individual direct actions making similar claims, and others may do so in the future. The Company has not recorded any liability for this matter as it does not believe a loss is probable or reasonably estimable because the Company believes that it has valid and meritorious defenses against the allegations and because the classes have not yet been defined or certified by the court.
The Offices of the Attorney General in New Mexico and Alaska have filed complaints against us and certain of our pork subsidiaries, as well as several other pork processing companies and Agri Stats. The complaints are based on allegations similar to those asserted in the Pork Antitrust Civil Litigation and allege violations of state antitrust, unfair trade practice, and unjust enrichment laws based on allegations of conspiracies to exchange information and manipulate the supply of pork. The Company has not recorded any liability for the foregoing matters as it does not believe a loss is probable or reasonably estimable at this time because the proceedings are in preliminary stages.
Beef Antitrust Litigation
On April 23, 2019, a putative class action complaint was filed against us and our beef and pork subsidiary, Tyson Fresh Meats, Inc. (“Tyson Fresh Meats”), as well as other beef packer defendants, in the United States District Court for the Northern District of Illinois. The plaintiffs allege that the defendants engaged in a conspiracy from January 2015 to the present to reduce fed cattle prices in violation of federal antitrust laws, the Grain Inspection, Packers and Stockyards Act of 1921, and the Commodities Exchange Act by periodically reducing their slaughter volumes so as to reduce demand for fed cattle, curtailing their purchases and slaughters of cash-purchased cattle during those same periods, coordinating their procurement practices for fed cattle settled on a cash basis, importing foreign cattle at a loss so as to reduce domestic demand, and closing and idling plants. In addition, the plaintiffs also allege the defendants colluded to manipulate live cattle futures and options traded on the Chicago Mercantile Exchange. The plaintiffs seek, among other things, treble monetary damages, punitive damages, restitution, and pre- and post-judgment interest, as well as declaratory and injunctive relief. Other similar lawsuits were filed by cattle ranchers in other district courts which were then transferred to the United States District Court for the District of Minnesota and consolidated and styled as In Re Cattle Antitrust Litigation. On February 18, 2021, we moved to dismiss the amended complaints, and on September 14, 2021, the court granted the motion with respect to certain state law claims but denied the motion with respect to the plaintiffs’ federal antitrust claims. The Company has not recorded any liability for this matter as it does not believe a loss is probable or reasonably estimable at this time because the Company believes that it has valid and meritorious defenses against the allegations and because the classes have not yet been defined or certified by the court.
On April 26, 2019, a putative class of indirect purchasers filed a class action complaint against us, other beef packers, and Agri Stats in the United States District Court for the District of Minnesota. The plaintiffs allege that the packer defendants conspired to reduce slaughter capacity by closing or idling plants, limiting their purchases of cash cattle, coordinating their procurement of cash cattle, and reducing their slaughter numbers so as to reduce beef output, all in order to artificially raise prices of beef. The plaintiffs seek, among other things, damages under state antitrust and consumer protection statutes and the common law of approximately 30 states, as well as injunctive relief. The indirect consumer purchaser litigation is styled Peterson v. JBS USA Food Company Holdings, et al. Additional complaints have been filed on behalf of a putative class of direct purchasers of beef containing allegations of violations of Section 1 of the Sherman Act based on an alleged conspiracy to artificially fix, raise, and stabilize the wholesale price for beef, as well as on behalf of a putative class of commercial and institutional indirect purchasers of beef containing allegations of violations of Section 1 of the Sherman Act, various state antitrust laws and unjust enrichment based on an alleged conspiracy to artificially inflate the price for beef. On February 18, 2021, we moved to dismiss the plaintiffs’ amended complaints, and on September 14, 2021, the court granted the motion with respect to certain state law claims but denied the motion with respect to the plaintiffs’ federal antitrust claims. Since the original filing, certain putative class members have opted out of the matter and are proceeding with individual direct actions making similar claims, and others may do so in the future. The Company has not recorded any liability for this matter as it does not believe a loss is probable or reasonably estimable at this time because the Company believes that it has valid and meritorious defenses against the allegations and because the classes have not yet been defined or certified by the court.
On February 18, 2022, a putative class action was commenced against us, Tyson Fresh Meats, and other beef packer defendants in the Supreme Court of British Columbia styled Bui v. Cargill, Incorporated et al. The plaintiff alleges that the defendants conspired to fix, maintain, increase, or control the price of beef, as well as to fix, maintain, control, prevent, or lessen the production or supply of beef by agreeing to reduce the number of cattle slaughtered, reduce slaughter capacity, refrain from increasing slaughter and beef processing capacity, limit purchases of cattle on the cash market, and coordinate purchases of and bids for cattle to lower the supply of fed cattle. The plaintiff advances causes of action under the Competition Act, civil conspiracy, unjust enrichment, and the Civil Code of Québec. The plaintiff seeks to certify a class comprised of all persons or entities in Canada who directly or indirectly purchased beef in Canada, either for resale or for their own consumption between January 1, 2015, and the present and seeks declarations regarding the alleged conspiracy, general damages, aggravated, exemplary, and punitive damages, injunctive relief, costs, and interest. On March 24, 2022, a putative class action was commenced against the same defendants in the Superior Court of Québec styled De Bellefeuille v. Cargill, Incorporated et al. The plaintiff is making substantially the same allegations as those made in the British Columbia action. On behalf of the putative class of persons who purchased beef in Québec since January 1, 2015, the plaintiff is seeking compensatory damages, costs of investigation and interest. The Company has not recorded any liability for the foregoing matters as it does not believe a loss is probable or reasonably estimable at this time because the proceedings are in preliminary stages.
On October 31, 2022, a class action complaint was filed on behalf of putative classes of indirect cattle producers against us, Tyson Fresh Meats, and other beef packer defendants in the United States District Court for the District of Kansas. The plaintiffs allege that the defendants engaged in a conspiracy in violation of Section 1 of the Sherman Act, the Packers and Stockyards Act of 1921 and various state unfair competition and consumer protection laws from January 2015 to the present to reduce the price of cows, cattle, calves, steers or heifers by periodically reducing their slaughter volumes so as to reduce demand for fed cattle, curtailing their purchases and slaughters of cash-purchased cattle during those same periods, coordinating their procurement practices for fed cattle settled on a cash basis, importing foreign cattle at a loss so as to reduce domestic demand, and closing and idling plants. The plaintiffs seek, among other things, treble monetary damages, punitive damages, restitution, and pre- and post-judgment interest under state antitrust and consumer protection statutes and the common law of approximately 33 states, as well as declaratory and injunctive relief. The indirect producer litigation is styled Sprecht et. al. v. Tyson, Inc., et al. A notice of potential tag-along has been filed with the Judicial Panel on Multi-District Litigation to transfer and consolidate the case with In re Cattle and Beef Antitrust Litigation, MDL No. 3031. The Company has not recorded any liability for this matter as it does not believe a loss is probable or reasonably estimable at this time because the Company believes that it has valid and meritorious defenses against the allegations and because the classes have not yet been defined or certified by the court.
On May 22, 2020, December 23, 2020 and October 29, 2021, we received civil investigative demands (“CIDs”) from the DOJ’s Civil Antitrust Division. The CIDs request information related to the fed cattle and beef packing markets. We have been cooperating with the DOJ with respect to the CIDs. The Offices of the Attorney General for multiple states are participating in the investigation and coordinating with the DOJ.
We received a subpoena dated April 21, 2022 from the New York Attorney General’s Bureau of Consumer Frauds & Protection seeking information regarding our sales, prices and production costs of beef, pork and chicken products. After we had made an initial production of information, we were unable to agree with the New York Attorney General's office on the appropriate scope of the subpoena and, as of August 3, 2022, the parties are litigating the issue before a New York state court.
Wage Rate Litigation
On August 30, 2019, a putative class of non-supervisory production and maintenance employees at chicken processing plants in the continental United States filed class action complaints against us and certain of our subsidiaries, as well as several other poultry processing companies, in the United States District Court for the District of Maryland. The plaintiffs allege that the defendants directly and through a wage survey and benchmarking service exchanged information regarding labor rates in an effort to depress and fix the rates of wages for non-supervisory production and maintenance workers in violation of federal antitrust laws. The plaintiffs seek, among other things, treble monetary damages, punitive damages, restitution, and pre- and post-judgment interest, as well as declaratory and injunctive relief. Additional lawsuits making similar allegations were consolidated including an amended consolidated complaint containing additional allegations concerning turkey processing plants naming additional defendants. We moved to dismiss the amended consolidated complaint. On September 16, 2020, the court dismissed claims against us and certain other defendants without prejudice because the complaint improperly grouped together corporate subsidiaries. The court otherwise denied the defendants’ motions to dismiss and sustained claims based on alleged conspiracies to fix wages and exchange information against five other defendants. The plaintiffs filed a second amended consolidated complaint on November 2, 2020. We moved to dismiss the complaint on December 18, 2020 based on a lack of standing to assert claims on behalf of the purported class. The court denied the motion to dismiss on March 10, 2021. On February 16, 2022, the plaintiffs filed a third amended consolidated complaint naming additional poultry processors as defendants and expanding the scope of the claims to include employees at hatcheries and feed mills. We moved to dismiss the claims related to hatchery and feed mill employees. The court denied the motion to dismiss on July 19, 2022. In the third quarter of fiscal 2021, the Company recorded an accrual for the estimated probable losses that it expects to incur for this matter in the Company’s Consolidated Condensed Financial Statements. There was no change to the accrual in fiscal 2022 or the first quarter of fiscal 2023.
The DOJ’s Antitrust Division has opened a civil investigation into human resources at several poultry companies. We are cooperating with the investigation.
On November 11, 2022, a putative class of employees at beef-processing and pork-processing plants in the continental United States filed a class action complaint against us and certain of our subsidiaries, as well as several other beef-processing and pork-processing companies, in the United States District Court for the District of Colorado. The plaintiffs allege that the defendants directly and through a wage survey and benchmarking service exchanged information regarding labor rates in an effort to depress and fix the rates of wages for employees in violation of federal antitrust laws. The plaintiffs seek, among other things, treble monetary damages, punitive damages, restitution, and pre- and post-judgment interest, as well as declaratory and injunctive relief. The Company has not recorded any liability for this matter as it does not believe a loss is probable or reasonably estimable at this time because the Company believes that it has valid and meritorious defenses against the allegations and because the case remains at the pleading stage and the classes have not yet been defined or certified by the court.
Other Matters
Our subsidiary, The Hillshire Brands Company (formerly named Sara Lee Corporation), is a party to a consolidation of cases filed by individual complainants with the Republic of the Philippines, Department of Labor and Employment and the National Labor Relations Commission (“NLRC”) from 1998 through July 1999. The complaint was filed against Aris Philippines, Inc., Sara Lee Corporation, Sara Lee Philippines, Inc., Fashion Accessories Philippines, Inc., and Attorney Cesar C. Cruz (collectively, the “respondents”). The complaint alleges, among other things, that the respondents engaged in unfair labor practices in connection with the termination of manufacturing operations in the Philippines in 1995 by Aris Philippines, Inc., a former subsidiary of The Hillshire Brands Company. In late 2004, a labor arbiter ruled against the respondents and awarded the complainants approximately $62 million in damages and fees. From 2004 through 2014, the parties filed numerous appeals, motions for reconsideration and petitions for review, certain of which remained outstanding for several years. On December 15, 2016, we learned that the NLRC rendered its decision on November 29, 2016, regarding the respondents’ appeals from the labor arbiter’s 2004 ruling in favor of the complainants. The NLRC increased the award for 4,922 of the total 5,984 complainants to approximately $267 million. However, the NLRC approved a prior settlement reached with the group comprising approximately 18% of the class of 5,984 complainants, pursuant to which The Hillshire Brands Company agreed to pay each settling complainant approximately $1,200. The parties filed numerous appeals, motions for reconsideration and petitions for review related to the NLRC award and settlement payment. The Court of Appeals subsequently vacated the NLRC’s award on April 12, 2018. Complainants have filed motions for reconsideration with the Court of Appeals which were denied. Claimants have since filed petitions for writ of certiorari with the Supreme Court of the Philippines, which has accepted. The Company continues to maintain an accrual for estimated probable losses for this matter in the Company’s Consolidated Financial Statements.
Various claims have been asserted against the Company, its subsidiaries, and its officers and agents by, and on behalf of, team members who claim to have contracted COVID-19 in our facilities. The Company has not recorded any liability for these matters as it does not believe a loss is probable or reasonably estimable at this time because it believes the allegations in the claims are without merit.
v3.22.4
Accounting Policies (Policy)
 3 Months Ended
Dec. 31, 2022
Policy Text Block [Abstract]  
Basis Of Presentation
Basis of Presentation
The consolidated condensed financial statements are unaudited and have been prepared by Tyson Foods, Inc. (“Tyson,” “the Company,” “we,” “us” or “our”). Certain information and accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Although we believe the disclosures contained herein are adequate to make the information presented not misleading, these consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended October 1, 2022. Preparation of consolidated condensed financial statements requires us to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
We believe the accompanying consolidated condensed financial statements contain all adjustments, which are of a normal recurring nature necessary to state fairly our financial position as of December 31, 2022 and the results of operations for the three months ended December 31, 2022 and January 1, 2022. Results of operations and cash flows for the periods presented are not necessarily indicative of results to be expected for the full year.
Consolidation
Consolidation
The consolidated condensed financial statements include the accounts of all wholly-owned subsidiaries, as well as majority-owned subsidiaries over which we exercise control and, when applicable, entities for which we have a controlling financial interest or variable interest entities for which we are the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
The consolidated condensed financial statements are prepared in conformity with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the amounts reported in the consolidated condensed financial statements and accompanying notes. Actual results could differ from those estimates. During the first quarter of fiscal 2023, we revised estimates and recorded adjustments of approximately $30 million primarily to reduce certain employee compensation accruals recorded as of October 1, 2022.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
In September 2022, the Financial Accounting Standards Board (the "FASB") issued guidance that requires additional disclosures for supplier finance programs to allow users to better understand the nature, activity and potential magnitude of the programs. The guidance, except for a requirement for rollforward information, is effective for annual reporting periods and interim periods within those annual reporting periods beginning after December 15, 2022, our fiscal 2024. Disclosure of rollforward information is effective for fiscal years after December 15, 2023, our fiscal 2025. Early adoption is permitted and the retrospective transition method should be applied for all amendments except rollforward information, which should be applied prospectively. We are currently evaluating the impact this guidance will have on our consolidated financial statements.
In March 2020, the FASB issued guidance providing optional expedients and exceptions to account for the effects of reference rate reform to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The optional guidance, which became effective on March 12, 2020 and was set to end on December 31, 2022, was extended by new guidance issued by the FASB on December 21, 2022 to apply through December 31, 2024. The temporary accounting relief provided in the optional guidance has not impacted our consolidated financial statements. The Company has various contracts that reference LIBOR and is assessing how this standard may be applied to specific contract modifications through December 31, 2024.
Goodwill and Intangible Assets, Goodwill, Policy
Goodwill
Goodwill is initially recorded at fair value and not amortized, but is reviewed for impairment at least annually or more frequently if impairment indicators arise. Our goodwill is evaluated for impairment by first performing a qualitative assessment to determine whether a quantitative goodwill test is necessary. If it is determined, based on qualitative factors, the fair value of the reporting unit may be more likely than not less than carrying amount, or if significant changes to macro-economic factors related to the reporting unit have occurred that could materially impact fair value, a quantitative goodwill impairment test would be required. The quantitative test is to identify if a potential impairment exists by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to that excess, not to exceed the carrying amount of goodwill. During fiscal 2022, we determined that all of our material reporting units’ estimated fair value exceeded their carrying value by more than 20%, other than one of our Chicken segment reporting units and two of our International reporting units with goodwill totaling $0.6 billion and $0.2 billion, respectively, at October 1, 2022. Conditions existed as of the end our first quarter that required an interim assessment of goodwill for two of our International reporting units which had goodwill totaling $0.2 billion at December 31, 2022. Based on the interim assessment, we determined no impairment was necessary as the fair value of the reporting units exceeded their carrying value.
Some of the inherent estimates and assumptions used in determining fair value of the reporting units are outside the control of management, including interest rates, cost of capital, tax rates, market EBITDA comparables and credit ratings. While we believe we have made reasonable estimates and assumptions to calculate the fair value of the reporting units, it is possible a material change could occur. If our actual results are not consistent with our estimates and assumptions used to calculate fair value, it could result in additional material impairments of our goodwill.
v3.22.4
Inventories (Policy)
 3 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
Inventory, Policy INVENTORIESProcessed products, livestock and supplies and other are valued at the lower of cost or net realizable value. Cost includes purchased raw materials, live purchase costs, growout costs (primarily feed, livestock grower pay and catch and haul costs), labor and manufacturing and production overhead, which are related to the purchase and production of inventories.
v3.22.4
Inventories (Tables)
 3 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
Schedule of Inventory
The following table reflects the major components of inventory (in millions):
December 31, 2022October 1, 2022
Processed products$3,160 $3,188 
Livestock1,535 1,454 
Supplies and other901 872 
Total inventory$5,596 $5,514 
v3.22.4
Property, Plant And Equipment (Tables)
 3 Months Ended
Dec. 31, 2022
Property, Plant and Equipment, Net [Abstract]  
Property, Plant And Equipment And Accumulated Depreciation
The major categories of property, plant and equipment and accumulated depreciation are as follows (in millions): 
December 31, 2022October 1, 2022
Land$218 $214 
Buildings and leasehold improvements5,830 5,742 
Machinery and equipment10,036 9,960 
Land improvements and other526 516 
Buildings and equipment under construction1,934 1,461 
18,544 17,893 
Less accumulated depreciation9,424 9,208 
Net Property, Plant and Equipment$9,120 $8,685 
v3.22.4
Restructuring and Related Charges Restructuring and Related Charges (Tables)
 3 Months Ended 6 Months Ended
Dec. 31, 2022
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]    
Total Pretax Anticipated Expenses of Restructuring Program The following table reflects the total pretax anticipated expenses associated with the 2022 Program (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$23 $8 $7 $51 $12 $101 
Relocation and related costs35 15 1 57 1 109 
Accelerated depreciation6 2 — 12 — 20 
Contract and lease terminations— — — 31 — 31 
Professional and other fees4 1 — 7 1 13 
Total 2022 Program$68 $26 $8 $158 $14 $274 
  
Schedule of Restructuring Reserve by Type of Cost
The following table reflects our liability related to the 2022 Program, which was recognized in other current liabilities in our Consolidated Condensed Balance sheet as of December 31, 2022 (in millions):
Balance at October 1, 2022Restructuring ExpensePaymentsChanges in EstimatesBalance at
December 31, 2022
Severance costs$66 $12 $5 $— $73 
Relocation and related costs— 4 2 — 2 
Professional and other fees— 1 1 — — 
Total$66 $17 $8 $— $75 
  
Restructuring and Related Costs [Table Text Block]
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the first quarter of fiscal 2023 by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$2 $1 $— $4 $5 $12 
Relocation and related costs1 1 1 1 — 4 
Accelerated depreciation2 — — 4 — 6 
Contract and lease terminations— — — (2)— (2)
Professional and other fees— — — 1 — 1 
Total$5 $2 $1 $8 $5 $21 
The following table reflects the pretax 2022 Program charges to date by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$18 $6 $6 $40 $8 $78 
Relocation and related costs1 1 1 1 — 4 
Accelerated depreciation2 — — 4 — 6 
Contract and lease terminations— — — (2)— (2)
Professional and other fees— — — 1 — 1 
Total$21 $7 $7 $44 $8 $87 
v3.22.4
Other Current Liabilities (Tables)
 3 Months Ended
Dec. 31, 2022
Other Liabilities, Current [Abstract]  
Schedule Of Other Current Liabilities
Other current liabilities are as follows (in millions):
December 31, 2022October 1, 2022
Accrued salaries, wages and benefits$665 $995 
Taxes payable302 277 
Accrued current legal contingencies194 215 
Other933 884 
Total other current liabilities$2,094 $2,371 
v3.22.4
Debt (Tables)
 3 Months Ended
Dec. 31, 2022
Debt Instruments [Abstract]  
Schedule of Major Components Of Debt
The major components of debt are as follows (in millions):
December 31, 2022October 1, 2022
Revolving credit facility$— $— 
Commercial paper— — 
Senior notes:
3.90% Senior notes due September 2023400 400 
3.95% Notes due August 20241,250 1,250 
4.00% Notes due March 2026 (“2026 Notes”)800 800 
3.55% Notes due June 20271,350 1,350 
7.00% Notes due January 202818 18 
4.35% Notes due March 2029 (“2029 Notes”)1,000 1,000 
6.13% Notes due November 2032158 160 
4.88% Notes due August 2034500 500 
5.15% Notes due August 2044500 500 
4.55% Notes due June 2047750 750 
5.10% Notes due September 2048 (“2048 Notes”)1,500 1,500 
Discount on senior notes(38)(39)
Other203 175 
Unamortized debt issuance costs(42)(43)
Total debt8,349 8,321 
Less current debt490 459 
Total long-term debt$7,859 $7,862 
v3.22.4
Equity (Tables)
 3 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of Share Repurchase A summary of share repurchases of our Class A stock is as follows (in millions):
Three Months Ended
December 31, 2022January 1, 2022
SharesDollarsSharesDollars
Shares repurchased:
Under share repurchase program4.7 $300 3.6 $300 
To fund certain obligations under equity compensation plans0.2 13 0.6 48 
Total share repurchases4.9 $313 4.2 $348 
v3.22.4
Earnings Per Share (Tables)
 3 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Schedule Of Earnings Per Share, Basic And Diluted
The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data): 
Three Months Ended
December 31, 2022January 1, 2022
Numerator:
Net income$320 $1,126 
Less: Net income attributable to noncontrolling interests4 5 
Net income attributable to Tyson316 1,121 
Less dividends declared:
Class A 143 140 
Class B 32 30 
Undistributed earnings$141 $951 
Class A undistributed earnings$116 $782 
Class B undistributed earnings25 169 
Total undistributed earnings$141 $951 
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares286 292 
Class B weighted average shares, and shares under the if-converted method for diluted earnings per share70 70 
Effect of dilutive securities:
Stock options, restricted stock and performance units2 3 
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions358 365 
Net income per share attributable to Tyson:
Class A basic$0.91 $3.16 
Class B basic$0.81 $2.84 
Diluted$0.88 $3.07 
Dividends Declared Per Share:
Class A$0.500 $0.475 
Class B$0.450 $0.428 
v3.22.4
Derivative Financial Instruments (Tables)
 3 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Condensed Statements of Income (in millions):
Consolidated Condensed Statements of Income ClassificationThree Months Ended
December 31, 2022January 1, 2022
Cost of SalesGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Commodity contracts$— $— 
Gain (Loss) on fair value hedges:
Commodity contracts (a) (3)(3)
Gain (Loss) on derivatives not designated as hedging instruments:
Commodity contracts15 81 
Total$12 $78 
Interest ExpenseGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Interest rate contracts$(1)$— 
Other, netGain (Loss) on derivatives not designated as hedging instruments:
Foreign exchange contracts$5 $— 
Schedule of Income Statement Items Impacted by Derivatives [Table Text Block]
The following table sets forth the total amounts of each income and expense line item presented in the Consolidated Condensed Statements of Income in which the effects of hedges are recorded (in millions):
Consolidated Condensed Statements of Income ClassificationThree Months Ended
December 31, 2022January 1, 2022
Cost of Sales$12,292 $10,918 
Interest Expense84 100 
Other, net(42)(52)
Schedule of Notional Amounts of Outstanding Derivative Positions
We had the following net aggregated outstanding notional amounts related to our derivative financial instruments:
in millions, except soybean meal tonsMetricDecember 31, 2022October 1, 2022
Commodity:
CornBushels61 44 
Soybean MealTons574,600 532,700 
Live CattlePounds143 280 
Lean HogsPounds338 339 
Foreign CurrencyUnited States dollar$164 $249 
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] The following table sets forth the carrying amount of fair value hedge (assets) liabilities as of December 31, 2022 and October 1, 2022 (in millions):
Consolidated Condensed Balance Sheets ClassificationDecember 31, 2022October 1, 2022
Inventory$7 $(12)
v3.22.4
Fair Value Measurements (Tables)
 3 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions): 
December 31, 2022Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $1 $— $— $1 
Undesignated — 110 — (38)72 
Available-for-sale securities (current)— 2 — — 2 
Other Assets:
Available-for-sale securities (non-current)— 67 33 — 100 
Deferred compensation assets29 357 — — 386 
Total assets$29 $537 $33 $(38)$561 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $8 $— $(8)$— 
Undesignated — 70 — (60)10 
Total liabilities$— $78 $— $(68)$10 
October 1, 2022Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $14 $— $(6)$8 
Undesignated — 154 — (58)96 
Available-for-sale securities (current)— 1 — — 1 
Other Assets:
Available-for-sale securities (non-current)— 65 35 — 100 
Deferred compensation assets38 327 — — 365 
Total assets$38 $561 $35 $(64)$570 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $2 $— $(2)$— 
Undesignated — 106 — (72)34 
Total liabilities$— $108 $— $(74)$34 
(a) Our derivative assets and liabilities are presented in our Consolidated Condensed Balance Sheets on a net basis when a legally enforceable master netting arrangement exists between the counterparty to a derivative contract and us. Additionally, at December 31, 2022, and October 1, 2022, we had $30 million and $10 million, respectively, of net cash collateral with various counterparties where master netting arrangements exist and held no cash collateral.
Schedule Of Debt Securities Measured At Fair Value On A Recurring Basis, Unobservable Input Reconciliation
The following table provides a reconciliation between the beginning and ending balance of marketable debt securities measured at fair value on a recurring basis in the table above that used significant unobservable inputs (Level 3) (in millions): 
Three Months Ended
December 31, 2022January 1, 2022
Balance at beginning of year$35 $48 
Total realized and unrealized gains (losses):
Included in other comprehensive income (loss)— (1)
Purchases2 1 
Issuances— — 
Settlements(4)(2)
Balance at end of period$33 $46 
Total gains (losses) for the three month period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of period
$— $— 
Schedule Of Fair Value And Carrying Value Of Debt
Fair value of our debt is principally estimated using Level 2 inputs based on quoted prices for those or similar instruments. Fair value and carrying value for our debt are as follows (in millions):
December 31, 2022October 1, 2022
Fair ValueCarrying ValueFair ValueCarrying Value
Total debt$7,840 $8,349 $7,762 $8,321 
Debt Securities, Available-for-sale
The following table sets forth our available-for-sale securities’ amortized cost basis, fair value and unrealized gain (loss) by significant investment category (in millions):
December 31, 2022October 1, 2022
Amortized
Cost Basis		Fair
Value		Unrealized
Gain (Loss)		Amortized
Cost Basis		Fair
Value		Unrealized
Gain (Loss)
Available-for-sale securities:
Debt securities:
U.S. treasury and agency$74 $69 $(5)$71 $66 $(5)
Corporate and asset-backed35 33 (2)37 35 (2)
v3.22.4
Segment Reporting (Tables)
 3 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Reporting Information, By Segment
Information on segments and a reconciliation to income before income taxes are as follows (in millions): 
Three Months Ended
December 31, 2022January 1, 2022
Sales:
Beef$4,723 $5,002 
Pork1,529 1,626 
Chicken4,263 3,890 
Prepared Foods2,538 2,333 
International/Other612 550 
Intersegment(405)(468)
Total Sales$13,260 $12,933 
Three Months Ended
December 31, 2022January 1, 2022
Operating Income (Loss):
Beef(a)
$166 $956 
Pork(21)164 
Chicken(b)
69 140 
Prepared Foods258 186 
International/Other(5)9 
Total Operating Income467 1,455 
Total Other (Income) Expense33 45 
Income before Income Taxes$434 $1,410 
(a) Beef segment results for the three months ended December 31, 2022 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.
(b) Chicken segment results for the three months ended December 31, 2022 included $7 million of costs related to a fire at one of our production facilities, net of insurance proceeds, recognized in Cost of Sales. Additionally, Chicken segment results for the three months ended January 1, 2022 included $23 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales, related to a fire at our production facility in the fourth quarter of fiscal 2021.
Disaggregation of Revenue, By Segment and Distribution Channel
The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended December 31, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,134 $1,129 $697 $647 $116 $4,723 
Pork458 117 332 350 272 1,529 
Chicken1,881 1,606 246 513 17 4,263 
Prepared Foods1,505 938 56 39 — 2,538 
International/Other— — 612 — — 612 
Intersegment— — — — (405)(405)
Total$5,978 $3,790 $1,943 $1,549 $— $13,260 
Three months ended January 1, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,218 $1,236 $856 $562 $130 $5,002 
Pork478 136 304 398 310 1,626 
Chicken1,633 1,560 221 448 28 3,890 
Prepared Foods1,325 929 46 33 — 2,333 
International/Other— — 550 — — 550 
Intersegment— — — — (468)(468)
Total$5,654 $3,861 $1,977 $1,441 $— $12,933 
(a) Includes sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.
(b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.
(c) Includes sales to international markets for internationally produced products or export sales of domestically produced products.
(d) Includes sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories.
v3.22.4
Accounting Policies Changes in Accounting Principles (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Oct. 01, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Selling, General and Administrative $ 501 $ 560  
Operating Income (Loss) 467 1,455  
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 434 1,410  
Income Tax Expense 114 284  
Net Income 320 1,126  
Net income attributable to Tyson $ 316 $ 1,121  
Diluted (USD per share) $ 0.88 $ 3.07  
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest $ 402 $ 1,126  
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 398 1,121  
Inventory, Net 5,596   $ 5,514
Assets, Current 8,953   9,630
Assets 36,678   36,821
Deferred Income Taxes 2,473   2,458
Retained earnings (20,225)   (20,084)
Total Tyson Shareholders’ Equity 19,635   19,702
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 19,787 18,542 19,811
Liabilities and Equity 36,678   $ 36,821
Deferred income taxes 8 77  
Increase (Decrease) in Operating Capital 63 (82)  
Restricted Cash 0 $ 172  
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount     20.00%
Revision of Estimate 30    
Chicken Reporting Unit      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Goodwill, Gross     $ 600
International Reporting Unit      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Goodwill, Gross $ 200   $ 200
Class A [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Basic (USD per share) $ 0.91 $ 3.16  
Class B [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Basic (USD per share) $ 0.81 $ 2.84  
v3.22.4
Acquisitions and Dispositions (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 01, 2022
Dec. 31, 2022
Jan. 01, 2022
Business Combination and Asset Acquisition [Abstract]      
Payments to Acquire Equity Method Investments   $ 36 $ 45
Business Acquisition [Line Items]      
Payments to Acquire Equity Method Investments   36 45
Payments to Acquire Businesses, Net of Cash Acquired $ 75 $ 39 $ 0
Supreme Foods Processing Company      
Business Acquisition [Line Items]      
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions 60.00%    
Agricultural Development Company      
Business Acquisition [Line Items]      
Business Acquisition, Percentage of Voting Interests Acquired 15.00%    
v3.22.4
Inventories (Schedule Of Inventory) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Oct. 01, 2022
Inventory Disclosure [Abstract]    
Processed products $ 3,160 $ 3,188
Livestock 1,535 1,454
Supplies and other 901 872
Total inventory $ 5,596 $ 5,514
v3.22.4
Property, Plant And Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Oct. 01, 2022
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 18,544 $ 17,893
Less accumulated depreciation 9,424 9,208
Net Property, Plant and Equipment 9,120 8,685
Land    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 218 214
Buildings and leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 5,830 5,742
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 10,036 9,960
Land improvements and other    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 526 516
Buildings and equipment under construction    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 1,934 $ 1,461
v3.22.4
Restructuring and Related Charges Restructuring (Details) - 2022 Program - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Oct. 01, 2022
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost $ (21)  
Restructuring Reserve 75 $ 66
Payments for Restructuring 8  
Restructuring and Related Cost, Expected Cost 274  
Restructuring Charges 17  
Restructuring and Related Cost, Cost Incurred to Date 87  
Restructuring and Related Cost, Cash Outflows    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (17)  
Restructuring and Related Cost, Cost Incurred to Date 83  
Restructuring and Related Cost, Non-Cash Charges    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (4)  
Restructuring and Related Cost, Cost Incurred to Date 4  
Effect on Future Earnings, Cash Charges    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Expected Cost 256  
Effect on Future Earnings, Non-Cash Charges    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Expected Cost 18  
Cost of Sales    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (8)  
Restructuring and Related Cost, Expected Cost 56  
Restructuring and Related Cost, Cost Incurred to Date 26  
Selling, General and Administrative Expenses [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (13)  
Restructuring and Related Cost, Expected Cost 218  
Restructuring and Related Cost, Cost Incurred to Date 61  
Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (12)  
Restructuring Reserve 73 $ 66
Payments for Restructuring 5  
Restructuring and Related Cost, Expected Cost 101  
Restructuring Charges 12  
Restructuring and Related Cost, Cost Incurred to Date 78  
Employee Relocation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (4)  
Restructuring Reserve 2  
Payments for Restructuring 2  
Restructuring and Related Cost, Expected Cost 109  
Restructuring Charges 4  
Restructuring and Related Cost, Cost Incurred to Date 4  
Accelerated Depreciation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (6)  
Restructuring and Related Cost, Expected Cost 20  
Restructuring and Related Cost, Cost Incurred to Date 6  
Contract Termination    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 2  
Restructuring and Related Cost, Expected Cost 31  
Restructuring and Related Cost, Cost Incurred to Date (2)  
Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Payments for Restructuring 1  
Restructuring and Related Cost, Expected Cost 13  
Restructuring Charges 1  
Restructuring and Related Cost, Cost Incurred to Date 1  
Beef [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (5)  
Restructuring and Related Cost, Expected Cost 68  
Restructuring and Related Cost, Cost Incurred to Date 21  
Beef [Member] | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (2)  
Restructuring and Related Cost, Expected Cost 23  
Restructuring and Related Cost, Cost Incurred to Date 18  
Beef [Member] | Employee Relocation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Restructuring and Related Cost, Expected Cost 35  
Restructuring and Related Cost, Cost Incurred to Date 1  
Beef [Member] | Accelerated Depreciation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (2)  
Restructuring and Related Cost, Expected Cost 6  
Restructuring and Related Cost, Cost Incurred to Date 2  
Beef [Member] | Contract Termination    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 0  
Restructuring and Related Cost, Cost Incurred to Date 0  
Beef [Member] | Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 4  
Restructuring and Related Cost, Cost Incurred to Date 0  
Pork [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (2)  
Restructuring and Related Cost, Expected Cost 26  
Restructuring and Related Cost, Cost Incurred to Date 7  
Pork [Member] | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Restructuring and Related Cost, Expected Cost 8  
Restructuring and Related Cost, Cost Incurred to Date 6  
Pork [Member] | Employee Relocation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Restructuring and Related Cost, Expected Cost 15  
Restructuring and Related Cost, Cost Incurred to Date 1  
Pork [Member] | Accelerated Depreciation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 2  
Restructuring and Related Cost, Cost Incurred to Date 0  
Pork [Member] | Contract Termination    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 0  
Restructuring and Related Cost, Cost Incurred to Date 0  
Pork [Member] | Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 1  
Restructuring and Related Cost, Cost Incurred to Date 0  
Chicken [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Restructuring and Related Cost, Expected Cost 8  
Restructuring and Related Cost, Cost Incurred to Date 7  
Chicken [Member] | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 7  
Restructuring and Related Cost, Cost Incurred to Date 6  
Chicken [Member] | Employee Relocation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Restructuring and Related Cost, Expected Cost 1  
Restructuring and Related Cost, Cost Incurred to Date 1  
Chicken [Member] | Accelerated Depreciation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 0  
Restructuring and Related Cost, Cost Incurred to Date 0  
Chicken [Member] | Contract Termination    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 0  
Restructuring and Related Cost, Cost Incurred to Date 0  
Chicken [Member] | Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 0  
Restructuring and Related Cost, Cost Incurred to Date 0  
Prepared Foods [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (8)  
Restructuring and Related Cost, Expected Cost 158  
Restructuring and Related Cost, Cost Incurred to Date 44  
Prepared Foods [Member] | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (4)  
Restructuring and Related Cost, Expected Cost 51  
Restructuring and Related Cost, Cost Incurred to Date 40  
Prepared Foods [Member] | Employee Relocation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Restructuring and Related Cost, Expected Cost 57  
Restructuring and Related Cost, Cost Incurred to Date 1  
Prepared Foods [Member] | Accelerated Depreciation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (4)  
Restructuring and Related Cost, Expected Cost 12  
Restructuring and Related Cost, Cost Incurred to Date 4  
Prepared Foods [Member] | Contract Termination    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 2  
Restructuring and Related Cost, Expected Cost 31  
Restructuring and Related Cost, Cost Incurred to Date (2)  
Prepared Foods [Member] | Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (1)  
Restructuring and Related Cost, Expected Cost 7  
Restructuring and Related Cost, Cost Incurred to Date 1  
Corporate and Other [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (5)  
Restructuring and Related Cost, Expected Cost 14  
Restructuring and Related Cost, Cost Incurred to Date 8  
Corporate and Other [Member] | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost (5)  
Restructuring and Related Cost, Expected Cost 12  
Restructuring and Related Cost, Cost Incurred to Date 8  
Corporate and Other [Member] | Employee Relocation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 1  
Restructuring and Related Cost, Cost Incurred to Date 0  
Corporate and Other [Member] | Accelerated Depreciation    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 0  
Restructuring and Related Cost, Cost Incurred to Date 0  
Corporate and Other [Member] | Contract Termination    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 0  
Restructuring and Related Cost, Cost Incurred to Date 0  
Corporate and Other [Member] | Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Cost, Incurred Cost 0  
Restructuring and Related Cost, Expected Cost 1  
Restructuring and Related Cost, Cost Incurred to Date $ 0  
v3.22.4
Other Current Liabilities (Schedule of Other Current Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Oct. 01, 2022
Other Liabilities, Current [Abstract]    
Accrued salaries, wages and benefits $ 665 $ 995
Taxes Payable 302 277
Loss Contingency Accrual 194 215
Other 933 884
Other current liabilities $ 2,094 $ 2,371
v3.22.4
Debt (Major Components Of Debt) (Details) - USD ($)
 3 Months Ended
Dec. 31, 2022
Oct. 01, 2022
Debt Instrument [Line Items]    
Document Period End Date Dec. 31, 2022  
Discount on senior notes $ (38,000,000) $ (39,000,000)
Other 203,000,000 175,000,000
Unamortized debt issuance costs (42,000,000) (43,000,000)
Total debt 8,349,000,000 8,321,000,000
Less current debt 490,000,000 459,000,000
Less current debt 7,859,000,000 7,862,000,000
Revolving Credit Facility [Member]    
Debt Instrument [Line Items]    
Revolving credit facility 0 0
Commercial paper    
Debt Instrument [Line Items]    
Commercial paper $ 0 0
3.90% Senior notes due September 2023    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 3.90%  
Long-term Debt, Gross $ 400,000,000 400,000,000
3.95% Notes due August 2024    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 3.95%  
Long-term Debt, Gross $ 1,250,000,000 1,250,000,000
4.00% Notes due March 2026 (“2026 Notes”)    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 4.00%  
Long-term Debt, Gross $ 800,000,000 800,000,000
3.55% Notes due June 2027    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 3.55%  
Long-term Debt, Gross $ 1,350,000,000 1,350,000,000
7.00% Notes due January 2028    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 7.00%  
Long-term Debt, Gross $ 18,000,000 18,000,000
4.35% Notes due March 2029 (“2029 Notes”)    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 4.35%  
Long-term Debt, Gross $ 1,000,000,000 1,000,000,000
6.13% Notes due November 2032    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 6.13%  
Long-term Debt, Gross $ 158,000,000 160,000,000
4.88% Notes due August 2034    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 4.88%  
Long-term Debt, Gross $ 500,000,000 500,000,000
5.15% Notes due August 2044    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 5.15%  
Long-term Debt, Gross $ 500,000,000 500,000,000
4.55% Notes due June 2047    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 4.55%  
Long-term Debt, Gross $ 750,000,000 750,000,000
5.10% Notes due September 2048 (“2048 Notes”)    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 5.10%  
Long-term Debt, Gross $ 1,500,000,000 $ 1,500,000,000
v3.22.4
Debt (Narrative) (Details) - USD ($)
 3 Months Ended
Dec. 31, 2022
Oct. 01, 2022
Debt Instrument [Line Items]    
Document Period End Date Dec. 31, 2022  
Debt Instrument, Unamortized Discount $ 38,000,000 $ 39,000,000
Revolving Credit Facility [Member]    
Debt Instrument [Line Items]    
Maximum borrowing capacity 2,250,000,000  
Amount available for borrowing under credit facility 2,250,000,000  
Revolving credit facility 0 0
Standby Letters of Credit [Member]    
Debt Instrument [Line Items]    
Letters of Credit Outstanding, Amount 0  
Bilateral Letters Of Credit [Member]    
Debt Instrument [Line Items]    
Letters of Credit Outstanding, Amount 103,000,000  
Commercial paper    
Debt Instrument [Line Items]    
Maximum borrowing capacity 1,500,000,000  
Commercial paper $ 0 $ 0
v3.22.4
Equity (Schedule of Share Repurchases) (Details) - Class A [Member] - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Class of Stock [Line Items]    
Treasury Stock, Shares, Acquired 4.9 4.2
Payments for Repurchase of Common Stock $ 313 $ 348
Under share repurchase program    
Class of Stock [Line Items]    
Treasury Stock, Shares, Acquired 4.7 3.6
Payments for Repurchase of Common Stock $ 300 $ 300
To fund certain obligations under equity compensation plans    
Class of Stock [Line Items]    
Treasury Stock, Shares, Acquired 0.2 0.6
Payments for Repurchase of Common Stock $ 13 $ 48
v3.22.4
Equity (Narrative) (Details) - shares
shares in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Share-based Payment Arrangement [Member]    
Class of Stock [Line Items]    
Antidilutive securities excluded from computation of earnings per share, shares 4.0 2.0
Class A [Member]    
Class of Stock [Line Items]    
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased 7.3  
v3.22.4
Income Taxes (Details)
$ in Millions, $ in Millions
 1 Months Ended 3 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2021
MXN ($)
Dec. 31, 2022
USD ($)
Jan. 01, 2022
Oct. 01, 2022
USD ($)
Income Tax Disclosure [Abstract]          
Effective tax rate for continuing operations     26.10% 20.20%  
Unrecognized tax benefits     $ 154   $ 152
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount     $ 36    
Income Tax Examination [Line Items]          
Effective Income Tax Rate Reconciliation, Percent     26.10% 20.20%  
Mexican Tax Authority | Tax Year 2015          
Income Tax Disclosure [Abstract]          
Income Tax Examination, Estimate of Possible Loss $ 411 $ 8,300      
Income Tax Examination [Line Items]          
Income Tax Examination, Estimate of Possible Loss $ 411 $ 8,300      
v3.22.4
Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Earnings Per Share, Basic and Diluted [Line Items]    
Net Income $ 320 $ 1,126
Less: Net Income Attributable to Noncontrolling Interests 4 5
Net income attributable to Tyson 316 1,121
Undistributed earnings $ 141 $ 951
Stock options, restricted stock and performance units 2 3
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions 358 365
Diluted $ 0.88 $ 3.07
Class A [Member]    
Earnings Per Share, Basic and Diluted [Line Items]    
Less dividends declared: $ 143 $ 140
Undistributed earnings $ 116 $ 782
Weighted average number of shares outstanding - Basic 286 292
Net Income Per Share Attributable to Tyson - Basic $ 0.91 $ 3.16
Common Stock, Dividends, Per Share, Declared $ 0.500 $ 0.475
Class B [Member]    
Earnings Per Share, Basic and Diluted [Line Items]    
Less dividends declared: $ 32 $ 30
Undistributed earnings $ 25 $ 169
Weighted average number of shares outstanding - Basic 70 70
Net Income Per Share Attributable to Tyson - Basic $ 0.81 $ 2.84
Common Stock, Dividends, Per Share, Declared $ 0.450 $ 0.428
v3.22.4
Earnings Per Share (Narrative) (Details)
shares in Millions
 3 Months Ended
Dec. 31, 2022
Classes
shares
Jan. 01, 2022
shares
Earnings Per Share, Basic and Diluted [Line Items]    
Number Of Classes Of Common Stock | Classes 2  
Percentage amount of per share cash dividends paid to holders of Class B stock that cannot exceed paid to holders of Class A stock 90.00%  
Class A [Member]    
Earnings Per Share, Basic and Diluted [Line Items]    
Undistributed earnings (losses), ratio used to calculate allocation to class of stock 1.0  
Class B [Member]    
Earnings Per Share, Basic and Diluted [Line Items]    
Undistributed earnings (losses), ratio used to calculate allocation to class of stock 0.9  
Share-based Payment Arrangement [Member]    
Earnings Per Share, Basic and Diluted [Line Items]    
Antidilutive securities excluded from computation of earnings per share, shares | shares 4 2
v3.22.4
Derivative Financial Instruments (Aggregate Outstanding Notionals) (Details)
lb in Millions, bu in Millions, $ in Millions
Dec. 31, 2022
USD ($)
lb
bu
T
Oct. 01, 2022
USD ($)
lb
bu
T
Corn (in bushels)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount | bu 61 44
Soy Meal (in tons)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount | T 574,600 532,700
Live Cattle (in pounds)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount 143 280
Lean Hogs (in pounds)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount 338 339
Foreign Currency [Member]    
Derivative [Line Items]    
Derivative, Notional Amount | $ $ 164 $ 249
v3.22.4
Derivative Financial Instruments (Pretax Impact Of Fair Value Hedge Derivative Instruments On The Consolidated Statements of Income) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Oct. 01, 2022
Derivative [Line Items]      
Derivative, Gain (Loss) on Derivative, Net $ 12 $ 78  
Fair Value Hedging [Member]      
Derivative [Line Items]      
Derivative Assets (Liabilities), at Fair Value, Net $ 7   $ (12)
v3.22.4
Derivative Financial Instruments (Pretax Impact Of Undesignated Derivative Instruments On The Consolidated Statements Of Income) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Derivative [Line Items]    
Derivative, Gain (Loss) on Derivative, Net $ 12 $ 78
Cost of Sales 12,292 10,918
Other Nonoperating Income (Expense) (42) (52)
Interest expense $ 84 $ 100
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales
Not Designated as Hedging Instrument | Commodity contracts    
Derivative [Line Items]    
Derivative, Gain (Loss) on Derivative, Net $ 15 $ 81
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales
Not Designated as Hedging Instrument | Foreign exchange contracts    
Derivative [Line Items]    
Derivative, Gain (Loss) on Derivative, Net $ 5 $ 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Fair Value Hedging [Member] | Commodity contracts    
Derivative [Line Items]    
Derivative, Gain (Loss) on Derivative, Net $ (3) $ (3)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales
Cash Flow Hedging [Member] | Commodity contracts    
Derivative [Line Items]    
Derivative, Gain (Loss) on Derivative, Net $ 0 $ 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales
Cash Flow Hedging [Member] | Interest Rate Contract [Member]    
Derivative [Line Items]    
Derivative, Gain (Loss) on Derivative, Net $ (1) $ 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest expense Interest expense
v3.22.4
Derivative Financial Instruments (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Cash Flow Hedging [Member]    
Derivative [Line Items]    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax $ 0 $ 0
Treasury Rate Locks    
Derivative [Line Items]    
Cash Flow Hedge Gain (Loss) to be Reclassified Over Life of Forecasted Fixed-Rate Debt $ 13  
v3.22.4
Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 01, 2022
Dec. 31, 2022
Oct. 01, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Collateral, Right to Reclaim Cash, Offset   $ 30 $ 10
Other income/expense      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Other Nonrecurring Gain $ 30    
Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Netting   (38) (64)
Total assets   561 570
Derivative Liability, Netting   (68) (74)
Total liabilities   10 34
Fair Value, Recurring [Member] | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total assets   29 38
Total liabilities   0 0
Fair Value, Recurring [Member] | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total assets   537 561
Total liabilities   78 108
Fair Value, Recurring [Member] | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total assets   33 35
Total liabilities   0 0
Other Current Assets [Member] | Fair Value, Recurring [Member] | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Netting   0 (6)
Derivative Asset, Subject to Master Netting Arrangement, after Offset   1 8
Other Current Assets [Member] | Fair Value, Recurring [Member] | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Netting   (38) (58)
Derivative Asset, Subject to Master Netting Arrangement, after Offset   72 96
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 1 | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short-term Investments   0 0
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 1 | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short-term Investments   0 0
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 2 | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short-term Investments   1 14
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 2 | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short-term Investments   110 154
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 3 | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short-term Investments   0 0
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 3 | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short-term Investments   0 0
Other Assets [Member] | Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Deferred compensation assets   386 365
Debt Securities, Available-for-Sale, Noncurrent   100 100
Other Assets [Member] | Fair Value, Recurring [Member] | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Deferred compensation assets   29 38
Debt Securities, Available-for-Sale, Noncurrent   0 0
Other Assets [Member] | Fair Value, Recurring [Member] | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Deferred compensation assets   357 327
Debt Securities, Available-for-Sale, Noncurrent   67 65
Other Assets [Member] | Fair Value, Recurring [Member] | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Deferred compensation assets   0 0
Debt Securities, Available-for-Sale, Noncurrent   33 35
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, after Offset   0 0
Derivative Liability, Netting   (8) (2)
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, after Offset   10 34
Derivative Liability, Netting   (60) (72)
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Level 1 | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, before Offset   0 0
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Level 1 | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, before Offset   0 0
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Level 2 | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, before Offset   8 2
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Level 2 | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, before Offset   70 106
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Level 3 | Designated as hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, before Offset   0 0
Other Current Liabilities [Member] | Fair Value, Recurring [Member] | Level 3 | Undesignated      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Subject to Master Netting Arrangement, before Offset   $ 0 $ 0
v3.22.4
Fair Value Measurements (Schedule Of Debt Securities Measured At Fair Value On A Recurring Basis, Unobservable Input Reconciliation) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of year $ 35 $ 48
Total unrealized gains (losses) included in other comprehensive income (loss) 0 (1)
Purchases 2 1
Issuances 0 0
Settlements (4) (2)
Balance at end of period 33 46
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) $ 0 $ 0
v3.22.4
Fair Value Measurements (Schedule Of Available For Sale Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Oct. 01, 2022
Other Current Assets [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Current $ 2 $ 1
Other Current Assets [Member] | Level 1 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Current 0 0
Other Current Assets [Member] | Level 2 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Current 2 1
Other Current Assets [Member] | Level 3 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Current 0 0
Other Assets [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Noncurrent 100 100
Other Assets [Member] | Level 1 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Noncurrent 0 0
Other Assets [Member] | Level 2 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Noncurrent 67 65
Other Assets [Member] | Level 3 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Noncurrent 33 35
U.S. treasury and agency    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax (5) (5)
Debt Securities, Available-for-sale 69 66
Debt Securities, Available-for-sale, Amortized Cost 74 71
Corporate and asset-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax (2) (2)
Debt Securities, Available-for-sale 33 35
Debt Securities, Available-for-sale, Amortized Cost $ 35 $ 37
v3.22.4
Fair Value Measurements (Schedule Of Fair Value And Carrying Value Of Debt) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Oct. 01, 2022
Fair Value Disclosures [Abstract]    
Total Debt, Fair Value $ 7,840 $ 7,762
Total Debt, Carrying Value $ 8,349 $ 8,321
v3.22.4
Fair Value Measurement (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Other income/expense    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other Nonrecurring Gain   $ 30
Maximum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short Term Investment Maturity Period 12 months  
Available For Sale Securities Debt Maturity Period 47 years  
v3.22.4
Segment Reporting (Segment Reporting Information, By Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Oct. 01, 2022
Segment Reporting Information [Line Items]      
Sales $ 13,260 $ 12,933  
Operating Income (Loss) 467 1,455  
Total Other (Income) Expense 33 45  
Income before income taxes 434 1,410  
Loss Contingency Accrual 194   $ 215
Unusual or Infrequent Item, or Both, Insurance Proceeds   23  
Beef [Member]      
Segment Reporting Information [Line Items]      
Sales 4,723 5,002  
Unusual or Infrequent Item, or Both, Insurance Proceeds 42    
Pork [Member]      
Segment Reporting Information [Line Items]      
Sales 1,529 1,626  
Chicken [Member]      
Segment Reporting Information [Line Items]      
Sales 4,263 3,890  
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 7    
Prepared Foods [Member]      
Segment Reporting Information [Line Items]      
Sales 2,538 2,333  
Corporate and Other [Member]      
Segment Reporting Information [Line Items]      
Sales 612 550  
Operating Segments [Member] | Beef [Member]      
Segment Reporting Information [Line Items]      
Sales 4,723 5,002  
Operating Income (Loss) 166 956  
Operating Segments [Member] | Pork [Member]      
Segment Reporting Information [Line Items]      
Sales 1,529 1,626  
Operating Income (Loss) (21) 164  
Operating Segments [Member] | Chicken [Member]      
Segment Reporting Information [Line Items]      
Sales 4,263 3,890  
Operating Income (Loss) 69 140  
Operating Segments [Member] | Prepared Foods [Member]      
Segment Reporting Information [Line Items]      
Sales 2,538 2,333  
Operating Income (Loss) 258 186  
Segment Reconciling Items [Member] | Corporate and Other [Member]      
Segment Reporting Information [Line Items]      
Sales 612 550  
Operating Income (Loss) (5) 9  
Intersegment Eliminations      
Segment Reporting Information [Line Items]      
Sales $ (405) $ (468)  
v3.22.4
Segment Reporting Disaggregation of Revenue (By Segment and Distribution Channel) (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Disaggregation of Revenue [Line Items]    
Sales $ 13,260 $ 12,933
Beef [Member]    
Disaggregation of Revenue [Line Items]    
Sales 4,723 5,002
Pork [Member]    
Disaggregation of Revenue [Line Items]    
Sales 1,529 1,626
Chicken [Member]    
Disaggregation of Revenue [Line Items]    
Sales 4,263 3,890
Prepared Foods [Member]    
Disaggregation of Revenue [Line Items]    
Sales 2,538 2,333
Corporate and Other [Member]    
Disaggregation of Revenue [Line Items]    
Sales 612 550
Retail    
Disaggregation of Revenue [Line Items]    
Sales [1] 5,978 5,654
Retail | Beef [Member]    
Disaggregation of Revenue [Line Items]    
Sales 2,134 2,218
Retail | Pork [Member]    
Disaggregation of Revenue [Line Items]    
Sales 458 478
Retail | Chicken [Member]    
Disaggregation of Revenue [Line Items]    
Sales 1,881 1,633
Retail | Prepared Foods [Member]    
Disaggregation of Revenue [Line Items]    
Sales 1,505 1,325
Retail | Corporate and Other [Member]    
Disaggregation of Revenue [Line Items]    
Sales 0 0
Foodservice    
Disaggregation of Revenue [Line Items]    
Sales [2] 3,790 3,861
Foodservice | Beef [Member]    
Disaggregation of Revenue [Line Items]    
Sales 1,129 1,236
Foodservice | Pork [Member]    
Disaggregation of Revenue [Line Items]    
Sales 117 136
Foodservice | Chicken [Member]    
Disaggregation of Revenue [Line Items]    
Sales 1,606 1,560
Foodservice | Prepared Foods [Member]    
Disaggregation of Revenue [Line Items]    
Sales 938 929
Foodservice | Corporate and Other [Member]    
Disaggregation of Revenue [Line Items]    
Sales 0 0
International    
Disaggregation of Revenue [Line Items]    
Sales [3] 1,943 1,977
International | Beef [Member]    
Disaggregation of Revenue [Line Items]    
Sales 697 856
International | Pork [Member]    
Disaggregation of Revenue [Line Items]    
Sales 332 304
International | Chicken [Member]    
Disaggregation of Revenue [Line Items]    
Sales 246 221
International | Prepared Foods [Member]    
Disaggregation of Revenue [Line Items]    
Sales 56 46
International | Corporate and Other [Member]    
Disaggregation of Revenue [Line Items]    
Sales 612 550
Industrial and Other    
Disaggregation of Revenue [Line Items]    
Sales [4] 1,549 1,441
Industrial and Other | Beef [Member]    
Disaggregation of Revenue [Line Items]    
Sales 647 562
Industrial and Other | Pork [Member]    
Disaggregation of Revenue [Line Items]    
Sales 350 398
Industrial and Other | Chicken [Member]    
Disaggregation of Revenue [Line Items]    
Sales 513 448
Industrial and Other | Prepared Foods [Member]    
Disaggregation of Revenue [Line Items]    
Sales 39 33
Industrial and Other | Corporate and Other [Member]    
Disaggregation of Revenue [Line Items]    
Sales 0 0
Intersegment Eliminations    
Disaggregation of Revenue [Line Items]    
Sales 0 0
Intersegment Eliminations | Beef [Member]    
Disaggregation of Revenue [Line Items]    
Sales 116 130
Intersegment Eliminations | Pork [Member]    
Disaggregation of Revenue [Line Items]    
Sales 272 310
Intersegment Eliminations | Chicken [Member]    
Disaggregation of Revenue [Line Items]    
Sales 17 28
Intersegment Eliminations | Prepared Foods [Member]    
Disaggregation of Revenue [Line Items]    
Sales 0 0
Intersegment Eliminations | Corporate and Other [Member]    
Disaggregation of Revenue [Line Items]    
Sales 0 0
Intersegment Eliminations    
Disaggregation of Revenue [Line Items]    
Sales $ (405) $ (468)
[1] (a) Includes sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers
[2] (b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.
[3] (c) Includes sales to international markets for internationally produced products or export sales of domestically produced products.
[4] (d) Includes sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories.
v3.22.4
Segment Reporting (Narrative) (Details)
$ in Millions
 3 Months Ended
Dec. 31, 2022
USD ($)
Segments
Jan. 01, 2022
USD ($)
Oct. 01, 2022
USD ($)
Segment Reporting Information [Line Items]      
Number of Operating Segments | Segments 4    
Sales $ 13,260 $ 12,933  
Loss Contingency Accrual 194   $ 215
Operating Income (Loss) 467 1,455  
Unusual or Infrequent Item, or Both, Insurance Proceeds   23  
Broiler Antitrust Civil Litigation [Member]      
Segment Reporting Information [Line Items]      
Loss Contingency Accrual 111   $ 122
Beef [Member]      
Segment Reporting Information [Line Items]      
Sales 4,723 5,002  
Unusual or Infrequent Item, or Both, Insurance Proceeds 42    
Pork [Member]      
Segment Reporting Information [Line Items]      
Sales 1,529 1,626  
Chicken [Member]      
Segment Reporting Information [Line Items]      
Sales 4,263 3,890  
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 7    
Prepared Foods [Member]      
Segment Reporting Information [Line Items]      
Sales 2,538 2,333  
Corporate and Other [Member]      
Segment Reporting Information [Line Items]      
Sales 612 550  
Operating Segments [Member] | Beef [Member]      
Segment Reporting Information [Line Items]      
Sales 4,723 5,002  
Operating Income (Loss) 166 956  
Operating Segments [Member] | Pork [Member]      
Segment Reporting Information [Line Items]      
Sales 1,529 1,626  
Operating Income (Loss) (21) 164  
Operating Segments [Member] | Chicken [Member]      
Segment Reporting Information [Line Items]      
Sales 4,263 3,890  
Operating Income (Loss) 69 140  
Operating Segments [Member] | Prepared Foods [Member]      
Segment Reporting Information [Line Items]      
Sales 2,538 2,333  
Operating Income (Loss) 258 186  
Segment Reconciling Items [Member] | Corporate and Other [Member]      
Segment Reporting Information [Line Items]      
Sales 612 550  
Operating Income (Loss) (5) 9  
Intersegment Eliminations      
Segment Reporting Information [Line Items]      
Sales $ (405) $ (468)  
v3.22.4
Commitments (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Oct. 01, 2022
Jan. 01, 2022
Guarantor Obligations [Line Items]      
Guarantor Obligations, Current Carrying Value $ 0 $ 0  
Potential maximum obligation under cash flow assistance programs 290    
Total receivables under cash flow assistance programs 7 6  
Cash Flow Assistance Program, Estimated Allowance For Uncollectible Receivables 0 0  
Restricted Cash 0   $ 172
Restricted Cash, Noncurrent $ 0 $ 0  
Restricted Cash and Cash Equivalents, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other Assets Other Assets  
Industrial Revenue Bonds [Member]      
Guarantor Obligations [Line Items]      
Industrial Revenue Bonds $ 797    
Guarantee Obligations [Member]      
Guarantor Obligations [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted $ 0    
v3.22.4
Contingencies (Narrative) (Details)
 3 Months Ended 12 Months Ended
Jan. 19, 2021
USD ($)
Dec. 21, 2016
USD ($)
Nov. 29, 2016
USD ($)
plaintiff
Dec. 31, 2022
USD ($)
Oct. 01, 2022
USD ($)
Jan. 01, 2022
USD ($)
Jul. 03, 2021
USD ($)
Dec. 31, 2004
USD ($)
Loss Contingencies [Line Items]                
Loss Contingency Accrual       $ 194,000,000 $ 215,000,000      
Republic of the Philippines, Department of Labor and Employment and the National Labor Relations Commission [Member]                
Loss Contingencies [Line Items]                
Loss Contingency, Number of Plaintiffs, Award Increase | plaintiff     4,922          
Estimated Percentage of Settling Complainants   18.00%            
Loss Contingency, Number of Plaintiffs | plaintiff     5,984          
Loss Contingency, Estimate of Possible Loss Per Complainant   $ 1,200            
Broiler Antitrust Civil Litigation [Member]                
Loss Contingencies [Line Items]                
Litigation Settlement, Amount Awarded to Other Party $ 221,500,000              
Broiler Antitrust Civil Litigation [Member]                
Loss Contingencies [Line Items]                
Loss Contingency Accrual       111,000,000 122,000,000      
Payments for Legal Settlements       $ 11,000,000   $ 179,000,000    
Broiler Chicken Grower Litigation                
Loss Contingencies [Line Items]                
Litigation Settlement, Amount Awarded to Other Party             $ 0  
Republic of the Philippines, Department of Labor and Employment                
Loss Contingencies [Line Items]                
Loss Contingency, Damages Awarded, Value     $ 267,000,000         $ 62,000,000
State Broiler Antitrust Civil Litigation - Washington                
Loss Contingencies [Line Items]                
Litigation Settlement, Amount Awarded to Other Party         $ 10,500,000      
v3.22.4
Label Element Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 2,637,000,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 1,031,000,000