TYSON FOODS, INC., 10-Q filed on 8/10/2023
Quarterly Report
v3.23.2
Document and Entity Information
 9 Months Ended
Jul. 01, 2023
$ / shares
shares
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Jul. 01, 2023
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 Q3
Amendment Flag false
Entity Incorporation, State or Country Code DE
Class A [Member]  
Entity Common Stock, Shares Outstanding 285,549,986
Class B [Member]  
Entity Common Stock, Shares Outstanding 70,010,355
v3.23.2
Consolidated Condensed Statements Of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Sales $ 13,140 $ 13,495 $ 39,533 $ 39,545
Cost of Sales 12,463 11,884 37,361 34,184
Gross Profit 677 1,611 2,172 5,361
Operating Expenses:        
Selling, General and Administrative 579 578 1,656 1,717
Goodwill, Impairment Loss 448 0 448 0
Operating Income (350) 1,033 68 3,644
Other (Income) Expense:        
Interest income (6) (4) (22) (10)
Interest expense 89 85 262 282
Other, net (7) (34) (50) (111)
Total Other (Income) Expense 76 47 190 161
Income (Loss) before Income Taxes (426) 986 (122) 3,483
Income Tax Expense 9 233 84 771
Net Income (Loss) (435) 753 (206) 2,712
Less: Net Income (Loss) Attributable to Noncontrolling Interests (18) 3 (8) 12
Net Income Attributable to Tyson $ (417) $ 750 $ (198) $ 2,700
Weighted Average Shares Outstanding:        
Diluted, Shares 354 362 355 364
Net Income Per Share Attributable to Tyson:        
Diluted (USD per share) $ (1.18) $ 2.07 $ (0.56) $ 7.42
Class A [Member]        
Weighted Average Shares Outstanding:        
Basic, Shares 284 289 285 291
Net Income Per Share Attributable to Tyson:        
Basic (USD per share) $ (1.18) $ 2.14 $ (0.56) $ 7.64
Class B [Member]        
Weighted Average Shares Outstanding:        
Basic, Shares 70 70 70 70
Net Income Per Share Attributable to Tyson:        
Basic (USD per share) $ (1.08) $ 1.92 $ (0.51) $ 6.87
v3.23.2
Consolidated Condensed Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Statement of Comprehensive Income [Abstract]        
Net Income (Loss) $ (435) $ 753 $ (206) $ 2,712
Other Comprehensive Income (Loss), Net of Taxes:        
Investments 0 (1) 2 (5)
Currency translation (35) (112) 64 (85)
Postretirement benefits 0 2 1 6
Total Other Comprehensive Income (Loss), Net of Taxes (35) (111) 68 (83)
Comprehensive Income (Loss) (470) 642 (138) 2,629
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests (18) 3 (8) 12
Comprehensive Income (Loss) Attributable to Tyson (452) 639 (130) 2,617
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax $ 0 $ 0 $ 1 $ 1
v3.23.2
Consolidated Condensed Balance Sheets - USD ($)
$ in Millions
Jul. 01, 2023
Oct. 01, 2022
Assets    
Cash and cash equivalents $ 699 $ 1,031
Accounts receivable, net 2,451 2,577
Inventories 5,391 5,514
Other current assets 342 508
Total Current Assets 8,883 9,630
Net Property, Plant and Equipment 9,612 8,685
Goodwill 10,211 10,513
Intangible Assets, net 6,155 6,252
Other Assets 1,900 1,741
Total Assets 36,761 36,821
Liabilities and Shareholders' Equity    
Current debt 457 459
Accounts payable 2,421 2,483
Other current liabilities 2,070 2,371
Total Current Liabilities 4,948 5,313
Long-Term Debt 8,863 7,862
Deferred Income Taxes 2,441 2,458
Other Liabilities 1,599 1,377
Shareholders' Equity:    
Capital in excess of par value 4,543 4,553
Retained earnings 19,378 20,084
Accumulated other comprehensive gain (loss) (229) (297)
Treasury stock, at cost – 92 million shares at July 1, 2023 and 88 million shares at October 1, 2022 (4,958) (4,683)
Total Tyson Shareholders’ Equity 18,779 19,702
Noncontrolling Interests 131 109
Total Shareholders’ Equity 18,910 19,811
Total Liabilities and Shareholders’ Equity 36,761 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
v3.23.2
Consolidated Condensed Balance Sheets (Parentheticals) - USD ($)
shares in Millions, $ in Millions
Jul. 01, 2023
Oct. 01, 2022
Treasury Stock, Common, Shares 92 88
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
v3.23.2
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, Common
Total Shareholders’ Equity Attributable to Tyson
Equity Attributable to Noncontrolling Interests:
Class B [Member]
Class A [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares         83.0        
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   50     $ 152        
Net income (loss) attributable to Tyson $ 2,700   2,700            
Dividends     (494)         $ (88) $ (406)
Other comprehensive income (loss) (83)     (83)          
Purchase of Class A common stock, shares         8.0       8.1
Payments for Repurchase of Common Stock         $ (693)       $ (693)
Stock-based compensation, shares         (3.0)        
Net income (loss) attributable to noncontrolling interests 12           (12)    
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders             (1)    
Currency translation and other             0    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other (8)                
Balance at end of quarter, Common Stock Shares at Jul. 02, 2022               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Jul. 02, 2022   4,536 19,708 (255) $ (4,679) $ 19,355      
Balance at end of quarter, Treasury Stock shares at Jul. 02, 2022         88.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jul. 02, 2022             134    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares         86.0        
Common Stock, Value, Issued               $ 7 $ 38
Balance at beginning of quarter, Common Stock Shares at Apr. 02, 2022               70.0 378.0
Balance at beginning of quarter, Shareholders' Equity Attributable to Tyson at Apr. 02, 2022   4,510 19,119 (144) $ (4,516)        
Balance at beginning of quarter, Treasury Stock shares at Apr. 02, 2022         86.0        
Balance at beginning of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Apr. 02, 2022             142    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock-based compensation and Other   26     $ 7        
Net income (loss) attributable to Tyson 750   750            
Dividends     (161)         $ (29) $ (132)
Other comprehensive income (loss) (111)     (111)          
Purchase of Class A common stock, shares         2.0       1.9
Payments for Repurchase of Common Stock         $ (170)       $ (170)
Stock-based compensation, shares         0.0        
Net income (loss) attributable to noncontrolling interests 3           (3)    
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders             (1)    
Currency translation and other             0    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other (10)                
Balance at end of quarter, Common Stock Shares at Jul. 02, 2022               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Jul. 02, 2022   4,536 19,708 (255) $ (4,679) 19,355      
Balance at end of quarter, Treasury Stock shares at Jul. 02, 2022         88.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jul. 02, 2022             134    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares         88.0        
Balance at end of quarter, Total Shareholders' Equity $ 19,489                
Common Stock, Value, Issued               $ 7 $ 38
Treasury Stock, Common, Shares 88.0       88.0        
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 88.0       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   (10)     $ 68        
Net income (loss) attributable to Tyson (198)   (198)            
Dividends     (508)         $ (92) $ (416)
Other comprehensive income (loss) 68     68          
Purchase of Class A common stock, shares         5.0       5.4
Payments for Repurchase of Common Stock         $ (343)       $ (343)
Stock-based compensation, shares         (1.0)        
Net income (loss) attributable to noncontrolling interests (8)           8    
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders             (2)    
Currency translation and other             28    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other 4                
Balance at end of quarter, Common Stock Shares at Jul. 01, 2023               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Jul. 01, 2023 $ 18,779 4,543 19,378 (229) $ (4,958) 18,779      
Balance at end of quarter, Treasury Stock shares at Jul. 01, 2023 92.0       92.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jul. 01, 2023 $ 131           131    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares         92.0        
Common Stock, Value, Issued               $ 7 $ 38
Balance at beginning of quarter, Common Stock Shares at Apr. 01, 2023               70.0 378.0
Balance at beginning of quarter, Shareholders' Equity Attributable to Tyson at Apr. 01, 2023   4,541 19,962 (194) $ (4,955)        
Balance at beginning of quarter, Treasury Stock shares at Apr. 01, 2023         92.0        
Balance at beginning of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Apr. 01, 2023             159    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock-based compensation and Other   2     $ 8        
Net income (loss) attributable to Tyson (417)   (417)            
Dividends     (167)         $ (30) $ (137)
Other comprehensive income (loss) (35)     (35)          
Purchase of Class A common stock, shares         0.0       0.2
Payments for Repurchase of Common Stock         $ (11)       $ (11)
Stock-based compensation, shares         0.0        
Net income (loss) attributable to noncontrolling interests (18)           18    
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders             (2)    
Currency translation and other             0    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other (8)                
Balance at end of quarter, Common Stock Shares at Jul. 01, 2023               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Jul. 01, 2023 $ 18,779 $ 4,543 $ 19,378 $ (229) $ (4,958) $ 18,779      
Balance at end of quarter, Treasury Stock shares at Jul. 01, 2023 92.0       92.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jul. 01, 2023 $ 131           $ 131    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares 92.0       92.0        
Balance at end of quarter, Total Shareholders' Equity $ 18,910                
Common Stock, Value, Issued               $ 7 $ 38
v3.23.2
Consolidated Condensed Statements Of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash Flows From Operating Activities:    
Net Income (Loss) $ (206) $ 2,712
Depreciation and amortization 943 892
Deferred income taxes (54) 149
Other, net 200 62
Net changes in operating assets and liabilities 98 (1,925)
Cash Provided by Operating Activities 1,429 1,890
Cash Flows From Investing Activities:    
Additions to property, plant and equipment (1,564) (1,323)
Purchases of marketable securities (21) (29)
Proceeds from sale of marketable securities 20 28
Payments to Acquire Businesses, Net of Cash Acquired (262) 0
Payments to Acquire Equity Method Investments (50) (97)
Other, net 5 96
Cash Used for Investing Activities (1,872) (1,325)
Cash Flows From Financing Activities:    
Proceeds from issuance of debt 1,117 79
Repayments of Debt and Lease Obligation 175 1,148
Proceeds from issuance of commercial paper 7,015 0
Repayments of Commercial Paper (7,015) 0
Dividends (503) (491)
Stock options exercised 10 125
Other, net (5) 0
Cash Provided by (Used for) Financing Activities 101 (2,128)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (332) (1,581)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 699 1,056
Restricted Cash 0 0
Cash and cash equivalents 699 1,056
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations 10 (18)
Other Noncash Income (Expense) (200) (62)
Goodwill, Impairment Loss 448 0
Class A [Member]    
Cash Flows From Financing Activities:    
Purchases of Tyson Class A common stock (343) (693)
Payments for Repurchase of Common Stock $ 343 $ 693
v3.23.2
Other Comprehensive Income (Loss)
 9 Months Ended
Jul. 01, 2023
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 EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Before TaxTaxAfter TaxBefore TaxTaxAfter TaxBefore TaxTaxAfter TaxBefore TaxTaxAfter Tax
Derivatives accounted for as cash flow hedges:
(Gain) loss reclassified to interest expense$— $— $— $— $— $— $1 $— $1 $1 $— $1 
Investments:
Unrealized gain (loss)— — — (1)— (1)2 — 2 (6)1 (5)
Currency translation:
Translation adjustment(35)— (35)(115)3 (112)64 — 64 (88)3 (85)
Postretirement benefits:
Unrealized gain (loss)— — — 2 — 2 1 — 1 7 (1)6 
Total other comprehensive income (loss)$(35)$— $(35)$(114)$3 $(111)$68 $— $68 $(86)$3 $(83)
v3.23.2
Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Jul. 01, 2023
Statement of Comprehensive Income [Abstract]  
Components Of Other Comprehensive Income (Loss)
The before and after-tax changes in the components of other comprehensive income (loss) are as follows (in millions):
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Before TaxTaxAfter TaxBefore TaxTaxAfter TaxBefore TaxTaxAfter TaxBefore TaxTaxAfter Tax
Derivatives accounted for as cash flow hedges:
(Gain) loss reclassified to interest expense$— $— $— $— $— $— $1 $— $1 $1 $— $1 
Investments:
Unrealized gain (loss)— — — (1)— (1)2 — 2 (6)1 (5)
Currency translation:
Translation adjustment(35)— (35)(115)3 (112)64 — 64 (88)3 (85)
Postretirement benefits:
Unrealized gain (loss)— — — 2 — 2 1 — 1 7 (1)6 
Total other comprehensive income (loss)$(35)$— $(35)$(114)$3 $(111)$68 $— $68 $(86)$3 $(83)
v3.23.2
Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Other Comprehensive Income Loss [Line Items]        
Total Other Comprehensive Income (Loss), Before Tax $ (35) $ (114) $ 68 $ (86)
Total Other Comprehensive Income (Loss), Tax 0 3 0 3
Total Other Comprehensive Income (Loss), Net of Taxes (35) (111) 68 (83)
Derivatives accounted for as cash flow hedges: | Interest Expense [Member]        
Other Comprehensive Income Loss [Line Items]        
Reclassification from Accumulated Other Comprehensive Income, Before Tax 0 0 1 1
Reclassification from AOCI, Current Period, Tax 0 0 0 0
Reclassification from Accumulated Other Comprehensive Income, Net of Tax 0 0 1 1
Investments:        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax 0 (1) 2 (6)
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 0 0 1
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax 0 (1) 2 (5)
Currency translation:        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax (35) (115) 64 (88)
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 3 0 3
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax (35) (112) 64 (85)
Postretirement benefits:        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax 0 2 1 7
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 0 0 (1)
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax $ 0 $ 2 $ 1 $ 6
v3.23.2
Acquisitions and Dispositions
 9 Months Ended
Jul. 01, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions and Dispositions ACQUISITIONS AND DISPOSITIONS
On May 22, 2023, we acquired Williams Sausage Company for $223 million, net of cash acquired, subject to certain adjustments, as part of our growth strategy to increase our capacity and product portfolio. Its results, subsequent to the acquisition closing, are included in Prepared Foods for segment presentation. Certain estimated values for the acquisition, including goodwill, intangible assets, property, plant and equipment, other liabilities, and deferred taxes are not yet finalized and are subject to revision as additional information becomes available and more detailed analyses are completed. The preliminary purchase price allocation includes $3 million of net working capital, including $3 million of cash acquired, $67 million of Property, Plant and Equipment, $118 million of Goodwill, $65 million of Intangible Assets, and $27 million of Deferred Income Taxes. Intangible Assets include brands and trademarks and customer relationships which will be amortized over a life of 20 and 12 years, respectively. A portion of the goodwill is deductible for U.S. income tax purposes. The acquisition of Williams Sausage Company was accounted for using the acquisition method of accounting.
In 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 $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 July 1, 2023 were insignificant to our Consolidated Condensed Statements of Income. We are accounting for the investment in ADC under the equity method.
v3.23.2
Inventories
 9 Months Ended
Jul. 01, 2023
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 July 1, 2023, 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. Inventories are presented net of lower of cost or net realizable value adjustments of $137 million and $60 million as of July 1, 2023 and October 1, 2022, respectively.
The following table reflects the major components of inventory (in millions):
July 1, 2023October 1, 2022
Processed products$2,927 $3,188 
Livestock1,564 1,454 
Supplies and other900 872 
Total inventory$5,391 $5,514 
v3.23.2
Property, Plant And Equipment
 9 Months Ended
Jul. 01, 2023
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): 
July 1, 2023October 1, 2022
Land$218 $214 
Buildings and leasehold improvements6,170 5,742 
Machinery and equipment10,366 9,960 
Land improvements and other556 516 
Buildings and equipment under construction2,108 1,461 
19,418 17,893 
Less accumulated depreciation9,806 9,208 
Net Property, Plant and Equipment$9,612 $8,685 
v3.23.2
Other Current Liabilities
 9 Months Ended
Jul. 01, 2023
Other Liabilities, Current [Abstract]  
Other Current Liabilities OTHER CURRENT LIABILITIES
Other current liabilities are as follows (in millions):
July 1, 2023October 1, 2022
Accrued salaries, wages and benefits$702 $995 
Taxes payable175 277 
Accrued current legal contingencies256 215 
Other937 884 
Total other current liabilities$2,070 $2,371 
v3.23.2
Debt
 9 Months Ended
Jul. 01, 2023
Debt Instruments [Abstract]  
Debt DEBT
The major components of debt are as follows (in millions):
July 1, 2023October 1, 2022
Revolving credit facility$— $— 
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(37)(39)
Term loans:
Term loan facility due May 2026 (6.32% at July 1, 2023)1,000 — 
Term loan facility due May 2028— — 
Other173 175 
Unamortized debt issuance costs(42)(43)
Total debt9,320 8,321 
Less current debt457 459 
Total long-term debt$8,863 $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 July 1, 2023, amounts available for borrowing under this facility totaled $2.25 billion and we had no outstanding borrowings and no outstanding letters of credit issued under this facility. At July 1, 2023 we had $97 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 July 1, 2023, we had no commercial paper outstanding. Our ability to access commercial paper in the future may be limited or its costs increased.
Term Loan Facilities
In the third quarter of fiscal 2023, we executed two new term loan facilities totaling $1.75 billion to refinance our short-term promissory notes ("commercial paper program") and for general corporate purposes. The first term loan facility totaling $1.0 billion matures on May 3, 2026 and we borrowed the full $1.0 billion available under this loan facility and used it to repay $610 million of outstanding commercial paper obligations. The second term loan facility totaling $750 million matures on May 3, 2028 and at July 1, 2023, we had no outstanding borrowings under this facility. Both term loans may be prepaid under certain conditions. The interest rate on both term loan facilities will be equal to SOFR plus a predetermined borrowing spread determined by our credit rating. Additionally, the term loan facilities contain covenants that are similar to those contained in the revolving credit facility.
Debt Covenants
Our revolving credit and term loan facilities contain 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 July 1, 2023.
v3.23.2
Equity
 9 Months Ended
Jul. 01, 2023
Equity [Abstract]  
Equity EQUITY
Share Repurchases
As of July 1, 2023, 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 EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
SharesDollarsSharesDollarsSharesDollarsSharesDollars
Shares repurchased:
Under share repurchase program— $— 1.8 $155 4.7 $300 6.9 $587 
To fund certain obligations under equity compensation plans0.2 11 0.1 15 0.7 43 1.2 106 
Total share repurchases0.2 $11 1.9 $170 5.4 $343 8.1 $693 
v3.23.2
Income Taxes
 9 Months Ended
Jul. 01, 2023
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Our effective tax rate was (1.8)% on pretax loss for the third quarter of fiscal 2023, 23.6% on pretax income for the third quarter of fiscal 2022, (67.9)% on pretax loss for the first nine months of fiscal 2023 and 22.1% on pretax income for the first nine months of fiscal 2022. The percentage impacts of items on the effective tax rate were greater in fiscal 2023 due to the level of pretax income (loss) in fiscal 2023 compared to fiscal 2022. The effective tax rates for the third quarter and first nine months of fiscal 2023 include the impacts of a $448 million non-deductible goodwill impairment. In all periods presented, the effective tax rates include the impacts of state tax expense and various tax benefits; however, tax benefits increase the effective tax rate in a period of pretax loss and decrease the effective tax rate in a period of pretax income. Additionally, the effective tax rate for the first nine months of fiscal 2022 includes 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.
Unrecognized tax benefits were $156 million and $152 million at July 1, 2023 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 $496 million (8.5 billion Mexican pesos), which includes tax, inflation adjustment, interest and penalties. We believe the assertions made in the assessment letter have no merit and will defend our positions through the Mexican administrative appeal process and litigation, if necessary. Based on our analysis of this assessment in accordance with FASB guidance related to unrecognized tax benefits, we have not recorded a liability related to the issue.
v3.23.2
Earnings Per Share
 9 Months Ended
Jul. 01, 2023
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS (LOSS) PER SHARE
The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions, except per share data): 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Numerator:
Net income (loss)$(435)$753 $(206)$2,712 
Less: Net income (loss) attributable to noncontrolling interests(18)3 (8)12 
Net income (loss) attributable to Tyson(417)750 (198)2,700 
Less dividends declared:
Class A 137 132 416 406 
Class B 30 29 92 88 
Undistributed earnings (losses)$(584)$589 $(706)$2,206 
Class A undistributed earnings (losses)$(478)$484 $(578)$1,813 
Class B undistributed earnings (losses)(106)105 (128)393 
Total undistributed earnings (losses)$(584)$589 $(706)$2,206 
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares284 289 285 291 
Class B weighted average shares, and shares under the if-converted method for diluted earnings per share70 70 70 70 
Effect of dilutive securities:
Stock options, restricted stock and performance units— 3 — 3 
Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversions354 362 355 364 
Net income (loss) per share attributable to Tyson:
Class A basic$(1.18)$2.14 $(0.56)$7.64 
Class B basic$(1.08)$1.92 $(0.51)$6.87 
Diluted$(1.18)$2.07 $(0.56)$7.42 
Dividends Declared Per Share:
Class A$0.480 $0.460 $1.460 $1.395 
Class B$0.432 $0.414 $1.314 $1.256 
Approximately 9 million of our stock-based compensation shares were antidilutive for the three and nine months ended July 1, 2023. Approximately 2 million of our stock-based compensation shares were antidilutive for the three and nine months ended July 2, 2022. 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 (losses) 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.
v3.23.2
Derivative Financial Instruments
 9 Months Ended
Jul. 01, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments DERIVATIVE FINANCIAL INSTRUMENTS
Our 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 July 1, 2023.
We had the following net aggregated outstanding notional amounts related to our derivative financial instruments:
in millions, except soybean meal tonsMetricJuly 1, 2023October 1, 2022
Commodity:
CornBushels75 44 
Soybean MealTons645,030 532,700 
Live CattlePounds397 280 
Lean HogsPounds206 339 
Foreign CurrencyUnited States dollar$183 $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 and nine months ended July 1, 2023, and July 2, 2022. As of July 1, 2023, 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 nine months ended July 1, 2023 and July 2, 2022, we did not reclassify significant pretax gains or losses into earnings as a result of the discontinuance of cash flow hedges. For the nine months ended July 1, 2023 and July 2, 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 and nine months ended July 1, 2023, and July 2, 2022. The following table sets forth the carrying amount of fair value hedge (assets) liabilities as of July 1, 2023 and October 1, 2022 (in millions):
Consolidated Condensed Balance Sheets ClassificationJuly 1, 2023October 1, 2022
Inventory$23 $(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 EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Cost of Sales$12,463 $11,884 $37,361 $34,184 
Interest Expense89 85 262 282 
Other, net(7)(34)(50)(111)
The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Condensed Statements of Income (in millions):
Consolidated Condensed Statements of Income ClassificationThree Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Cost of SalesGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Commodity contracts$— $— $— $— 
Gain (Loss) on fair value hedges:
Commodity contracts (a) (5)(6)(6)(22)
Gain (Loss) on derivatives not designated as hedging instruments:
Commodity contracts(84)(19)(92)161 
Total$(89)$(25)$(98)$139 
Interest ExpenseGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Interest rate contracts$— $— $(1)$(1)
Other, netGain (Loss) on derivatives not designated as hedging instruments:
Foreign exchange contracts$(7)$1 $3 $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.
v3.23.2
Segment Reporting
 9 Months Ended
Jul. 01, 2023
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 EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Sales:
Beef$4,956 $4,959 $14,296 $14,995 
Pork1,324 1,619 4,274 4,810 
Chicken4,212 4,366 12,905 12,342 
Prepared Foods2,383 2,447 7,343 7,173 
International/Other633 602 1,879 1,717 
Intersegment(368)(498)(1,164)(1,492)
Total Sales$13,140 $13,495 $39,533 $39,545 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Operating Income (Loss):
Beef(a)
$66 $533 $232 $2,127 
Pork(74)25 (128)248 
Chicken(b)
(314)277 (503)615 
Prepared Foods206 186 705 635 
International/Other(c)
(234)12 (238)19 
Total Operating Income (Loss)(350)1,033 68 3,644 
Total Other (Income) Expense76 47 190 161 
Income (Loss) before Income Taxes$(426)$986 $(122)$3,483 
(a) Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales. Additionally, Beef segment results for the three and nine months ended July 2, 2022 included $27 million recognized in Cost of Sales of insurance proceeds related to a fire at one of our production facilities in the fourth quarter of fiscal 2019.
(b) Chicken segment results for the three and nine months ended July 1, 2023 included insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included charges of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales pursuant to FASB guidance related to accounting for revenue from contracts with customers, and $210 million of goodwill impairment. Additionally, Chicken segment results for the three and nine months ended July 2, 2022 included insurance proceeds, net of costs incurred, of $8 million and $26 million, respectively, recognized in Cost of Sales.
(c) International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.

The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,313 $1,257 $671 $575 $140 $4,956 
Pork394 125 294 305 206 1,324 
Chicken1,823 1,636 264 467 22 4,212 
Prepared Foods1,396 898 55 34 — 2,383 
International/Other— — 633 — — 633 
Intersegment— — — — (368)(368)
Total$5,926 $3,916 $1,917 $1,381 $— $13,140 
Three months ended July 2, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,130 $1,255 $828 $611 $135 $4,959 
Pork466 133 313 405 302 1,619 
Chicken1,889 1,607 294 515 61 4,366 
Prepared Foods1,412 944 52 39 — 2,447 
International/Other— — 602 — — 602 
Intersegment— — — — (498)(498)
Total$5,897 $3,939 $2,089 $1,570 $— $13,495 
Nine months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$6,581 $3,577 $1,978 $1,782 $378 $14,296 
Pork1,268 356 926 994 730 4,274 
Chicken5,668 4,902 758 1,521 56 12,905 
Prepared Foods4,334 2,734 162 113 — 7,343 
International/Other— — 1,879 — — 1,879 
Intersegment— — — — (1,164)(1,164)
Total$17,851 $11,569 $5,703 $4,410 $— $39,533 
Nine months ended July 2, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$6,561 $3,755 $2,492 $1,776 $411 $14,995 
Pork1,374 391 884 1,204 957 4,810 
Chicken5,221 4,757 792 1,448 124 12,342 
Prepared Foods4,147 2,770 142 114 — 7,173 
International/Other— — 1,717 — — 1,717 
Intersegment— — — — (1,492)(1,492)
Total$17,303 $11,673 $6,027 $4,542 $— $39,545 
(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
v3.23.2
Commitments And Contingencies
 9 Months Ended
Jul. 02, 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 July 1, 2023, was not significant. The likelihood of material payments under these guarantees is not considered probable. At July 1, 2023 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 July 1, 2023 was approximately $280 million. The total receivables under these programs were $20 million and $6 million at July 1, 2023 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 a $6 million allowance for these programs’ estimated uncollectible receivables at July 1, 2023, and no allowance at October 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 July 1, 2023 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 July 1, 2023, 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 other significant changes to the loss contingency accruals described below reflected in the Company’s Consolidated Condensed Statements of Income for the three months and nine months ended July 1, 2023.
Broiler Antitrust Civil Litigation
Beginning in September 2016, a series of putative 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. The first trial in this matter, which will involve claims brought by the Direct Purchaser Plaintiff Class and certain direct-action plaintiffs, is scheduled to begin on September 12, 2023. On June 30, 2023, the court granted, in part, and denied, in part, summary judgment motions the Company had filed and joined, narrowing the scope of the claims the Company is facing in this first trial.
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 three months and nine months ended July 1, 2023, the Company recorded an additional $38 million charge related to this matter. Additionally, during the first nine months of fiscal 2023 and fiscal 2022, the Company reduced its total recorded legal contingency accrual by $11 million and $197 million, respectively, for amounts it had paid in connection with settlements related to this matter. Accordingly, at July 1, 2023 and October 1, 2022, the legal contingency accrual for claims related to this matter was $149 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 Attorneys General in New Mexico and Alaska 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. We are cooperating with various state governmental agencies and officials, including the Offices of the Attorneys 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. The Company has not recorded any liability in connection with these matters as it does not believe a loss is probable or reasonably estimable at this time in respect of the claims by the New Mexico and Alaska Attorneys General and the investigations by the Florida and Louisiana Attorneys General.
Broiler Chicken Grower Litigation
Following the settlement of our previously disclosed In re Broiler Chicken Grower Litigation during fiscal 2022, in October 2022, the DOJ’s Antitrust Division opened a civil investigation into broiler chicken grower contracts and alleged non-competitive practices involving performance-based compensation sharing for the purpose of stabilizing compensation below competitive levels. We continue to cooperate 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.
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. In November 2022, the case was transferred and consolidated 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. Following initial litigation on the scope of the subpoena, we are reviewing and producing documents.
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 nine months 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 $269 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 $1,229. 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.
v3.23.2
Accounting Policies (Policy)
 9 Months Ended
Jul. 01, 2023
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 July 1, 2023 and the results of operations for the three and nine months ended July 1, 2023 and July 2, 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 beginning 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 November 2021, the FASB issued guidance requiring additional disclosures for transactions with a government that are accounted for by analogizing to a government grant or contribution accounting model to increase transparency of government assistance. The additional disclosures will include information on the type and nature of the government assistance and the accounting and financial effect of the assistance to our financial statements. This guidance is effective for annual reporting periods beginning after December 15, 2021, our fiscal 2023 and can be applied using either the prospective or retrospective approach. 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 the 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, as of October 1, 2022. Conditions existed as of the end of our first quarter of fiscal 2023 that required an interim assessment of goodwill for two of our International reporting units which had goodwill totaling $0.2 billion as of December 31, 2022; we determined no impairment was necessary as the fair value of the reporting units exceeded their carrying value. Our qualitative assessment for the second quarter of fiscal 2023 did not indicate that it was more likely than not the fair value of any of our reporting units may be impaired, and as such, no quantitative goodwill test was deemed necessary at that time. During the third quarter of fiscal 2023, we experienced lower than previously anticipated operating results and changing market fundamentals, as well as a drop in our market capitalization to below our book value. Consequently, based on our qualitative assessment, we determined the fair values of our reporting units were more likely than not less than the carrying amount and proceeded to perform a quantitative assessment for all our reporting units. Based on this assessment, we determined that all of our material reporting units’ estimated fair value exceeded their carrying value 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 the time of our third quarter assessment. For these reporting units, we recorded a $448 million goodwill impairment charge of which $210 million and $238 million was recognized in our Chicken segment and International/Other, respectively.
Following the third quarter of fiscal 2023 quantitative assessment, the following reporting units’ estimated fair value exceeded their carrying value by less than 20%: our Chicken segment reporting units, our Beef reporting unit and our Pork reporting unit with goodwill totaling $3.1 billion, $0.7 billion and $0.4 billion, respectively, at July 1, 2023.
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.
v3.23.2
Inventories (Policy)
 9 Months Ended
Jul. 01, 2023
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.
v3.23.2
Inventories (Tables)
 9 Months Ended
Jul. 01, 2023
Inventory Disclosure [Abstract]  
Schedule of Inventory
The following table reflects the major components of inventory (in millions):
July 1, 2023October 1, 2022
Processed products$2,927 $3,188 
Livestock1,564 1,454 
Supplies and other900 872 
Total inventory$5,391 $5,514 
v3.23.2
Property, Plant And Equipment (Tables)
 9 Months Ended
Jul. 01, 2023
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): 
July 1, 2023October 1, 2022
Land$218 $214 
Buildings and leasehold improvements6,170 5,742 
Machinery and equipment10,366 9,960 
Land improvements and other556 516 
Buildings and equipment under construction2,108 1,461 
19,418 17,893 
Less accumulated depreciation9,806 9,208 
Net Property, Plant and Equipment$9,612 $8,685 
v3.23.2
Restructuring and Related Charges Restructuring and Related Charges (Tables)
 3 Months Ended 9 Months Ended 12 Months Ended
Jul. 01, 2023
Jul. 01, 2023
Jul. 01, 2023
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 $7 $15 $48 $19 $112 
Relocation and related costs26 10 2 40 1 79 
Accelerated depreciation5 2 — 12 — 19 
Contract and lease terminations— — — 14 — 14 
Professional and other fees2 — — 4 2 8 
Total 2022 Program$56 $19 $17 $118 $22 $232 
  
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 July 1, 2023 (in millions):
Balance at October 1, 2022Restructuring ExpensePaymentsChanges in EstimatesBalance at July 1, 2023
Severance costs$66 $56 $12 $(14)$96 
Relocation and related costs— 33 27 — 6 
Professional and other fees— 5 3 — 2 
Total$66 $94 $42 $(14)$104 
  
Restructuring and Related Costs [Table Text Block]
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the third quarter of fiscal 2023 by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$4 $1 $10 $4 $9 $28 
Relocation and related costs7 3 — 6 — 16 
Accelerated depreciation1 — — 3 — 4 
Contract and lease terminations— — — 1 — 1 
Professional and other fees1 — — — — 1 
Total$13 $4 $10 $14 $9 $50 
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the first nine months of fiscal 2023 by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$6 $2 $9 $10 $15 $42 
Relocation and related costs14 5 2 12 — 33 
Accelerated depreciation4 1 — 9 — 14 
Contract and lease terminations— — — (1)— (1)
Professional and other fees2 — — 3 — 5 
Total$26 $8 $11 $33 $15 $93 
The following table reflects the pretax 2022 Program charges to date by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$22 $7 $15 $46 $18 $108 
Relocation and related costs14 5 2 12 — 33 
Accelerated depreciation4 1 — 9 — 14 
Contract and lease terminations— — — (1)— (1)
Professional and other fees2 — — 3 — 5 
Total$42 $13 $17 $69 $18 $159 
v3.23.2
Other Current Liabilities (Tables)
 9 Months Ended
Jul. 01, 2023
Other Liabilities, Current [Abstract]  
Schedule Of Other Current Liabilities
Other current liabilities are as follows (in millions):
July 1, 2023October 1, 2022
Accrued salaries, wages and benefits$702 $995 
Taxes payable175 277 
Accrued current legal contingencies256 215 
Other937 884 
Total other current liabilities$2,070 $2,371 
v3.23.2
Debt (Tables)
 9 Months Ended
Jul. 01, 2023
Debt Instruments [Abstract]  
Schedule of Major Components Of Debt
The major components of debt are as follows (in millions):
July 1, 2023October 1, 2022
Revolving credit facility$— $— 
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(37)(39)
Term loans:
Term loan facility due May 2026 (6.32% at July 1, 2023)1,000 — 
Term loan facility due May 2028— — 
Other173 175 
Unamortized debt issuance costs(42)(43)
Total debt9,320 8,321 
Less current debt457 459 
Total long-term debt$8,863 $7,862 
v3.23.2
Equity (Tables)
 9 Months Ended
Jul. 01, 2023
Equity [Abstract]  
Schedule of Share Repurchase A summary of share repurchases of our Class A stock is as follows (in millions):
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
SharesDollarsSharesDollarsSharesDollarsSharesDollars
Shares repurchased:
Under share repurchase program— $— 1.8 $155 4.7 $300 6.9 $587 
To fund certain obligations under equity compensation plans0.2 11 0.1 15 0.7 43 1.2 106 
Total share repurchases0.2 $11 1.9 $170 5.4 $343 8.1 $693 
v3.23.2
Earnings Per Share (Tables)
 9 Months Ended
Jul. 01, 2023
Earnings Per Share [Abstract]  
Schedule Of Earnings Per Share, Basic And Diluted
The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions, except per share data): 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Numerator:
Net income (loss)$(435)$753 $(206)$2,712 
Less: Net income (loss) attributable to noncontrolling interests(18)3 (8)12 
Net income (loss) attributable to Tyson(417)750 (198)2,700 
Less dividends declared:
Class A 137 132 416 406 
Class B 30 29 92 88 
Undistributed earnings (losses)$(584)$589 $(706)$2,206 
Class A undistributed earnings (losses)$(478)$484 $(578)$1,813 
Class B undistributed earnings (losses)(106)105 (128)393 
Total undistributed earnings (losses)$(584)$589 $(706)$2,206 
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares284 289 285 291 
Class B weighted average shares, and shares under the if-converted method for diluted earnings per share70 70 70 70 
Effect of dilutive securities:
Stock options, restricted stock and performance units— 3 — 3 
Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversions354 362 355 364 
Net income (loss) per share attributable to Tyson:
Class A basic$(1.18)$2.14 $(0.56)$7.64 
Class B basic$(1.08)$1.92 $(0.51)$6.87 
Diluted$(1.18)$2.07 $(0.56)$7.42 
Dividends Declared Per Share:
Class A$0.480 $0.460 $1.460 $1.395 
Class B$0.432 $0.414 $1.314 $1.256 
v3.23.2
Derivative Financial Instruments (Tables)
 9 Months Ended
Jul. 01, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table sets forth the pretax impact of the cash flow, fair value and undesignated derivative instruments in the Consolidated Condensed Statements of Income (in millions):
Consolidated Condensed Statements of Income ClassificationThree Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Cost of SalesGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Commodity contracts$— $— $— $— 
Gain (Loss) on fair value hedges:
Commodity contracts (a) (5)(6)(6)(22)
Gain (Loss) on derivatives not designated as hedging instruments:
Commodity contracts(84)(19)(92)161 
Total$(89)$(25)$(98)$139 
Interest ExpenseGain (Loss) on cash flow hedges reclassified from OCI to Earnings:
Interest rate contracts$— $— $(1)$(1)
Other, netGain (Loss) on derivatives not designated as hedging instruments:
Foreign exchange contracts$(7)$1 $3 $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 EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Cost of Sales$12,463 $11,884 $37,361 $34,184 
Interest Expense89 85 262 282 
Other, net(7)(34)(50)(111)
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 tonsMetricJuly 1, 2023October 1, 2022
Commodity:
CornBushels75 44 
Soybean MealTons645,030 532,700 
Live CattlePounds397 280 
Lean HogsPounds206 339 
Foreign CurrencyUnited States dollar$183 $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 July 1, 2023 and October 1, 2022 (in millions):
Consolidated Condensed Balance Sheets ClassificationJuly 1, 2023October 1, 2022
Inventory$23 $(12)
v3.23.2
Fair Value Measurements (Tables)
 9 Months Ended
Jul. 01, 2023
Fair Value Disclosures [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions): 
July 1, 2023Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $5 $— $(3)$2 
Undesignated — 139 — (80)59 
Available-for-sale securities (current)— 7 — — 7 
Other Assets:
Available-for-sale securities (non-current)— 66 31 — 97 
Deferred compensation assets23 390 — — 413 
Total assets$23 $607 $31 $(83)$578 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $28 $— $(28)$— 
Undesignated — 181 — (156)25 
Total liabilities$— $209 $— $(184)$25 
October 1, 2022Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $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 July 1, 2023, and October 1, 2022, we had $101 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): 
Nine Months Ended
July 1, 2023July 2, 2022
Balance at beginning of year$35 $48 
Total realized and unrealized gains (losses):
Included in other comprehensive income (loss)1 (2)
Purchases5 7 
Issuances— — 
Settlements(10)(15)
Balance at end of period$31 $38 
Total gains (losses) for the nine 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 Available For Sale Securities
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):
July 1, 2023October 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$77 $73 $(4)$71 $66 $(5)
Corporate and asset-backed32 31 (1)37 35 (2)
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):
July 1, 2023October 1, 2022
Fair ValueCarrying ValueFair ValueCarrying Value
Total debt$8,827 $9,320 $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):
July 1, 2023October 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$77 $73 $(4)$71 $66 $(5)
Corporate and asset-backed32 31 (1)37 35 (2)
v3.23.2
Segment Reporting (Tables)
 9 Months Ended
Jul. 01, 2023
Segment Reporting [Abstract]  
Segment Reporting Information, By Segment
Information on segments and a reconciliation to income before income taxes are as follows (in millions): 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Sales:
Beef$4,956 $4,959 $14,296 $14,995 
Pork1,324 1,619 4,274 4,810 
Chicken4,212 4,366 12,905 12,342 
Prepared Foods2,383 2,447 7,343 7,173 
International/Other633 602 1,879 1,717 
Intersegment(368)(498)(1,164)(1,492)
Total Sales$13,140 $13,495 $39,533 $39,545 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Operating Income (Loss):
Beef(a)
$66 $533 $232 $2,127 
Pork(74)25 (128)248 
Chicken(b)
(314)277 (503)615 
Prepared Foods206 186 705 635 
International/Other(c)
(234)12 (238)19 
Total Operating Income (Loss)(350)1,033 68 3,644 
Total Other (Income) Expense76 47 190 161 
Income (Loss) before Income Taxes$(426)$986 $(122)$3,483 
(a) Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales. Additionally, Beef segment results for the three and nine months ended July 2, 2022 included $27 million recognized in Cost of Sales of insurance proceeds related to a fire at one of our production facilities in the fourth quarter of fiscal 2019.
(b) Chicken segment results for the three and nine months ended July 1, 2023 included insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included charges of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales pursuant to FASB guidance related to accounting for revenue from contracts with customers, and $210 million of goodwill impairment. Additionally, Chicken segment results for the three and nine months ended July 2, 2022 included insurance proceeds, net of costs incurred, of $8 million and $26 million, respectively, recognized in Cost of Sales.
(c) International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.
Disaggregation of Revenue, By Segment and Distribution Channel
The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,313 $1,257 $671 $575 $140 $4,956 
Pork394 125 294 305 206 1,324 
Chicken1,823 1,636 264 467 22 4,212 
Prepared Foods1,396 898 55 34 — 2,383 
International/Other— — 633 — — 633 
Intersegment— — — — (368)(368)
Total$5,926 $3,916 $1,917 $1,381 $— $13,140 
Three months ended July 2, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,130 $1,255 $828 $611 $135 $4,959 
Pork466 133 313 405 302 1,619 
Chicken1,889 1,607 294 515 61 4,366 
Prepared Foods1,412 944 52 39 — 2,447 
International/Other— — 602 — — 602 
Intersegment— — — — (498)(498)
Total$5,897 $3,939 $2,089 $1,570 $— $13,495 
Nine months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$6,581 $3,577 $1,978 $1,782 $378 $14,296 
Pork1,268 356 926 994 730 4,274 
Chicken5,668 4,902 758 1,521 56 12,905 
Prepared Foods4,334 2,734 162 113 — 7,343 
International/Other— — 1,879 — — 1,879 
Intersegment— — — — (1,164)(1,164)
Total$17,851 $11,569 $5,703 $4,410 $— $39,533 
Nine months ended July 2, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$6,561 $3,755 $2,492 $1,776 $411 $14,995 
Pork1,374 391 884 1,204 957 4,810 
Chicken5,221 4,757 792 1,448 124 12,342 
Prepared Foods4,147 2,770 142 114 — 7,173 
International/Other— — 1,717 — — 1,717 
Intersegment— — — — (1,492)(1,492)
Total$17,303 $11,673 $6,027 $4,542 $— $39,545 
(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. For the third quarter and nine months of fiscal 2023, the Chicken segment included a $38 million reduction in Other due to the recognition of a legal contingency accrual.
v3.23.2
Accounting Policies Changes in Accounting Principles (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Dec. 31, 2022
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Oct. 01, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Selling, General and Administrative $ 579   $ 578 $ 1,656 $ 1,717  
Operating Income (Loss) (350)   1,033 68 3,644  
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (426)   986 (122) 3,483  
Income Tax Expense 9   233 84 771  
Net Income (Loss) (435)   753 (206) 2,712  
Net income (loss) attributable to Tyson $ (417)   $ 750 $ (198) $ 2,700  
Diluted (USD per share) $ (1.18)   $ 2.07 $ (0.56) $ 7.42  
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest $ (470)   $ 642 $ (138) $ 2,629  
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (452)   639 (130) 2,617  
Inventory, Net 5,391     5,391   $ 5,514
Assets, Current 8,883     8,883   9,630
Assets 36,761     36,761   36,821
Deferred Income Taxes 2,441     2,441   2,458
Retained earnings (19,378)     (19,378)   (20,084)
Total Tyson Shareholders’ Equity 18,779     18,779   19,702
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 18,910   19,489 18,910 19,489 19,811
Liabilities and Equity 36,761     36,761   $ 36,821
Deferred income taxes       (54) 149  
Increase (Decrease) in Operating Capital       98 (1,925)  
Restricted Cash $ 0   0 $ 0 0  
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount 2000.00%     2000.00%   20.00%
Revision of Estimate   $ 30        
Goodwill, Impairment Loss $ 448   $ 0 $ 448 $ 0  
Goodwill 10,211     10,211   $ 10,513
Chicken Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill, Gross 600     600   600
Goodwill, Impairment Loss 210          
Goodwill 3,100     3,100    
International Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill, Gross 200 $ 200   200   $ 200
Goodwill, Impairment Loss 238          
Beef Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill 700     700    
Pork Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill $ 400     $ 400    
Class A [Member]            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Basic (USD per share) $ (1.18)   $ 2.14 $ (0.56) $ 7.64  
Class B [Member]            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Basic (USD per share) $ (1.08)   $ 1.92 $ (0.51) $ 6.87  
v3.23.2
Acquisitions and Dispositions (Details) - USD ($)
$ in Millions
 9 Months Ended
May 22, 2023
Nov. 01, 2022
Jul. 01, 2023
Jul. 02, 2022
Oct. 01, 2022
Business Combination and Asset Acquisition [Abstract]          
Payments to Acquire Equity Method Investments     $ 50 $ 97  
Business Acquisition [Line Items]          
Payments to Acquire Equity Method Investments     50 97  
Payments to Acquire Businesses, Net of Cash Acquired   $ 75 262 $ 0  
Goodwill     $ 10,211   $ 10,513
Supreme Foods Processing Company          
Business Acquisition [Line Items]          
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions   60.00%      
Williams Sausage Company          
Business Acquisition [Line Items]          
Business Combination, Consideration Transferred $ 223        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net Working Capital 3        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents 3        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment 67        
Goodwill 118        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 65        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent $ 27        
Williams Sausage Company | Customer Relationships [Member]          
Business Acquisition [Line Items]          
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 12 years        
Williams Sausage Company | Trademarks and Trade Names          
Business Acquisition [Line Items]          
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 20 years        
Agricultural Development Company          
Business Acquisition [Line Items]          
Business Acquisition, Percentage of Voting Interests Acquired   15.00%      
v3.23.2
Inventories (Schedule Of Inventory) (Details) - USD ($)
$ in Millions
Jul. 01, 2023
Oct. 01, 2022
Inventory Disclosure [Abstract]    
Processed products $ 2,927 $ 3,188
Livestock 1,564 1,454
Supplies and other 900 872
Total inventory 5,391 5,514
Inventory [Line Items]    
Inventory Valuation Reserves $ 137 $ 60
v3.23.2
Property, Plant And Equipment (Details) - USD ($)
$ in Millions
Jul. 01, 2023
Oct. 01, 2022
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 19,418 $ 17,893
Less accumulated depreciation 9,806 9,208
Net Property, Plant and Equipment 9,612 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 6,170 5,742
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 10,366 9,960
Land improvements and other    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 556 516
Buildings and equipment under construction    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 2,108 $ 1,461
v3.23.2
Restructuring and Related Charges Restructuring (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 01, 2023
Oct. 01, 2022
2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost $ (50) $ (93)  
Restructuring Reserve 104 104 $ 66
Payments for Restructuring   42  
Restructuring and Related Cost, Expected Cost 232 232  
Restructuring Charges   94  
Restructuring and Related Cost, Cost Incurred to Date 159 159  
Restructuring Reserve, Accrual Adjustment   (14)  
Restructuring and Related Cost, Revised Expenses 39 39  
2022 Program | Restructuring and Related Cost, Cash Outflows      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (45) (80)  
Restructuring and Related Cost, Cost Incurred to Date 146 146  
2022 Program | Restructuring and Related Cost, Non-Cash Charges      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (5) (13)  
Restructuring and Related Cost, Cost Incurred to Date 13 13  
2022 Program | Effect on Future Earnings, Cash Charges      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Expected Cost 210 210  
2022 Program | Effect on Future Earnings, Non-Cash Charges      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Expected Cost 22 22  
Cost of Sales | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 19 (23)  
Restructuring and Related Cost, Expected Cost 54 54  
Restructuring and Related Cost, Cost Incurred to Date 41 41  
Selling, General and Administrative Expenses [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 31 (70)  
Restructuring and Related Cost, Expected Cost 178 178  
Restructuring and Related Cost, Cost Incurred to Date 118 118  
Employee Severance [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (28) (42)  
Restructuring Reserve 96 96 66
Payments for Restructuring   12  
Restructuring and Related Cost, Expected Cost 112 112  
Restructuring Charges   56  
Restructuring and Related Cost, Cost Incurred to Date 108 108  
Restructuring Reserve, Accrual Adjustment   (14)  
Employee Relocation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (16) (33)  
Restructuring Reserve 6 6 0
Payments for Restructuring   27  
Restructuring and Related Cost, Expected Cost 79 79  
Restructuring Charges   33  
Restructuring and Related Cost, Cost Incurred to Date 33 33  
Restructuring Reserve, Accrual Adjustment   0  
Accelerated Depreciation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (4) (14)  
Restructuring and Related Cost, Expected Cost 19 19  
Restructuring and Related Cost, Cost Incurred to Date 14 14  
Contract Termination | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (1) 1  
Restructuring and Related Cost, Expected Cost 14 14  
Restructuring and Related Cost, Cost Incurred to Date (1) (1)  
Other Restructuring [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (1) (5)  
Restructuring Reserve 2 2 $ 0
Payments for Restructuring   3  
Restructuring and Related Cost, Expected Cost 8 8  
Restructuring Charges   5  
Restructuring and Related Cost, Cost Incurred to Date 5 5  
Restructuring Reserve, Accrual Adjustment   0  
Beef [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (13) (26)  
Restructuring and Related Cost, Expected Cost 56 56  
Restructuring and Related Cost, Cost Incurred to Date 42 42  
Beef [Member] | Employee Severance [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (4) (6)  
Restructuring and Related Cost, Expected Cost 23 23  
Restructuring and Related Cost, Cost Incurred to Date 22 22  
Beef [Member] | Employee Relocation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (7) (14)  
Restructuring and Related Cost, Expected Cost 26 26  
Restructuring and Related Cost, Cost Incurred to Date 14 14  
Beef [Member] | Accelerated Depreciation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (1) (4)  
Restructuring and Related Cost, Expected Cost 5 5  
Restructuring and Related Cost, Cost Incurred to Date 4 4  
Beef [Member] | Contract Termination | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Beef [Member] | Other Restructuring [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (1) (2)  
Restructuring and Related Cost, Expected Cost 2 2  
Restructuring and Related Cost, Cost Incurred to Date 2 2  
Pork [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (4) (8)  
Restructuring and Related Cost, Expected Cost 19 19  
Restructuring and Related Cost, Cost Incurred to Date 13 13  
Pork [Member] | Employee Severance [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (1) (2)  
Restructuring and Related Cost, Expected Cost 7 7  
Restructuring and Related Cost, Cost Incurred to Date 7 7  
Pork [Member] | Employee Relocation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (3) (5)  
Restructuring and Related Cost, Expected Cost 10 10  
Restructuring and Related Cost, Cost Incurred to Date 5 5  
Pork [Member] | Accelerated Depreciation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 (1)  
Restructuring and Related Cost, Expected Cost 2 2  
Restructuring and Related Cost, Cost Incurred to Date 1 1  
Pork [Member] | Contract Termination | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Pork [Member] | Other Restructuring [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Chicken [Member]      
Restructuring Cost and Reserve [Line Items]      
Business Exit Liability 72 72  
Chicken [Member] | Maximum [Member]      
Restructuring Cost and Reserve [Line Items]      
Business Exit Costs, Anticipated Costs 400    
Chicken [Member] | Minimum      
Restructuring Cost and Reserve [Line Items]      
Business Exit Costs, Anticipated Costs 300    
Chicken [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (10) (11)  
Restructuring and Related Cost, Expected Cost 17 17  
Restructuring and Related Cost, Cost Incurred to Date 17 17  
Chicken [Member] | Cost of Sales      
Restructuring Cost and Reserve [Line Items]      
Business Exit Costs 15 107  
Chicken [Member] | Employee Severance [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (10) (9)  
Restructuring and Related Cost, Expected Cost 15 15  
Restructuring and Related Cost, Cost Incurred to Date 15 15  
Chicken [Member] | Employee Relocation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 (2)  
Restructuring and Related Cost, Expected Cost 2 2  
Restructuring and Related Cost, Cost Incurred to Date 2 2  
Chicken [Member] | Accelerated Depreciation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Chicken [Member] | Contract Termination | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Chicken [Member] | Other Restructuring [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Prepared Foods [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (14) (33)  
Restructuring and Related Cost, Expected Cost 118 118  
Restructuring and Related Cost, Cost Incurred to Date 69 69  
Prepared Foods [Member] | Employee Severance [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (4) (10)  
Restructuring and Related Cost, Expected Cost 48 48  
Restructuring and Related Cost, Cost Incurred to Date 46 46  
Prepared Foods [Member] | Employee Relocation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (6) (12)  
Restructuring and Related Cost, Expected Cost 40 40  
Restructuring and Related Cost, Cost Incurred to Date 12 12  
Prepared Foods [Member] | Accelerated Depreciation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (3) (9)  
Restructuring and Related Cost, Expected Cost 12 12  
Restructuring and Related Cost, Cost Incurred to Date 9 9  
Prepared Foods [Member] | Contract Termination | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (1) 1  
Restructuring and Related Cost, Expected Cost 14 14  
Restructuring and Related Cost, Cost Incurred to Date (1) (1)  
Prepared Foods [Member] | Other Restructuring [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 (3)  
Restructuring and Related Cost, Expected Cost 4 4  
Restructuring and Related Cost, Cost Incurred to Date 3 3  
Corporate and Other [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (9) (15)  
Restructuring and Related Cost, Expected Cost 22 22  
Restructuring and Related Cost, Cost Incurred to Date 18 18  
Corporate and Other [Member] | Employee Severance [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost (9) (15)  
Restructuring and Related Cost, Expected Cost 19 19  
Restructuring and Related Cost, Cost Incurred to Date 18 18  
Corporate and Other [Member] | Employee Relocation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 1 1  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Corporate and Other [Member] | Accelerated Depreciation | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Corporate and Other [Member] | Contract Termination | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 0 0  
Restructuring and Related Cost, Cost Incurred to Date 0 0  
Corporate and Other [Member] | Other Restructuring [Member] | 2022 Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost 0 0  
Restructuring and Related Cost, Expected Cost 2 2  
Restructuring and Related Cost, Cost Incurred to Date $ 0 $ 0  
v3.23.2
Other Current Liabilities (Schedule of Other Current Liabilities) (Details) - USD ($)
$ in Millions
Jul. 01, 2023
Oct. 01, 2022
Other Liabilities, Current [Abstract]    
Accrued salaries, wages and benefits $ 702 $ 995
Taxes Payable 175 277
Loss Contingency Accrual 256 215
Other 937 884
Other current liabilities $ 2,070 $ 2,371
v3.23.2
Debt (Major Components Of Debt) (Details) - USD ($)
 9 Months Ended
Jul. 01, 2023
Oct. 01, 2022
Debt Instrument [Line Items]    
Document Period End Date Jul. 01, 2023  
Discount on senior notes $ (37,000,000) $ (39,000,000)
Other 173,000,000 175,000,000
Unamortized debt issuance costs (42,000,000) (43,000,000)
Total debt 9,320,000,000 8,321,000,000
Less current debt 457,000,000 459,000,000
Less current debt 8,863,000,000 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
Term Loan Facility Due May 2025    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 6.32%  
Long-term Debt, Gross $ 1,000,000,000 0
Term Loan Facility Due May 2028    
Debt Instrument [Line Items]    
Long-term Debt, Gross $ 0 $ 0
v3.23.2
Debt (Narrative) (Details) - USD ($)
 9 Months Ended
May 19, 2023
Jul. 01, 2023
Jul. 02, 2022
May 03, 2023
Oct. 01, 2022
Debt Instrument [Line Items]          
Document Period End Date   Jul. 01, 2023      
Repayments of Commercial Paper   $ 7,015,000,000 $ 0    
Debt Instrument, Unamortized Discount   37,000,000     $ 39,000,000
Term Loan Facilities, Total          
Debt Instrument [Line Items]          
Debt Instrument, Unused Borrowing Capacity, Amount       $ 1,750,000,000  
Term Loan Facility Due May 2025          
Debt Instrument [Line Items]          
Debt Instrument, Unused Borrowing Capacity, Amount $ 1,000,000,000     1,000,000,000  
Long-term Debt, Gross   $ 1,000,000,000     0
Debt Instrument, Interest Rate, Stated Percentage   6.32%      
Term Loan Facility Due May 2028          
Debt Instrument [Line Items]          
Debt Instrument, Unused Borrowing Capacity, Amount       $ 750,000,000  
Long-term Debt, Gross   $ 0     0
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   97,000,000      
Commercial paper          
Debt Instrument [Line Items]          
Maximum borrowing capacity   1,500,000,000      
Commercial paper   $ 0     $ 0
Repayments of Commercial Paper $ 610,000,000        
v3.23.2
Equity (Schedule of Share Repurchases) (Details) - Class A [Member] - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Class of Stock [Line Items]        
Treasury Stock, Shares, Acquired 0.2 1.9 5.4 8.1
Payments for Repurchase of Common Stock $ 11 $ 170 $ 343 $ 693
Under share repurchase program        
Class of Stock [Line Items]        
Treasury Stock, Shares, Acquired 0.0 1.8 4.7 6.9
Payments for Repurchase of Common Stock $ 0 $ 155 $ 300 $ 587
To fund certain obligations under equity compensation plans        
Class of Stock [Line Items]        
Treasury Stock, Shares, Acquired 0.2 0.1 0.7 1.2
Payments for Repurchase of Common Stock $ 11 $ 15 $ 43 $ 106
v3.23.2
Equity (Narrative) (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Share-based Payment Arrangement [Member]        
Class of Stock [Line Items]        
Antidilutive securities excluded from computation of earnings per share, shares 9.0 2.0 9.0 2.0
Class A [Member]        
Class of Stock [Line Items]        
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased 7.3   7.3  
v3.23.2
Income Taxes (Details)
$ in Millions, $ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2021
MXN ($)
Jul. 01, 2023
USD ($)
Jul. 02, 2022
USD ($)
Jul. 01, 2023
USD ($)
Jul. 02, 2022
USD ($)
Oct. 01, 2022
USD ($)
Income Tax Disclosure [Abstract]              
Effective tax rate for continuing operations     (1.80%) 23.60% (67.90%) 22.10%  
Unrecognized tax benefits     $ 156   $ 156   $ 152
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount           $ 36  
Income Tax Examination [Line Items]              
Effective Income Tax Rate Reconciliation, Percent     (1.80%) 23.60% (67.90%) 22.10%  
Goodwill, Impairment Loss     $ 448 $ 0 $ 448 $ 0  
Mexican Tax Authority | Tax Year 2015              
Income Tax Disclosure [Abstract]              
Income Tax Examination, Estimate of Possible Loss $ 496 $ 8,500          
Income Tax Examination [Line Items]              
Income Tax Examination, Estimate of Possible Loss $ 496 $ 8,500          
v3.23.2
Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Earnings Per Share, Basic and Diluted [Line Items]        
Net Income (Loss) $ (435) $ 753 $ (206) $ 2,712
Less: Net Income (Loss) Attributable to Noncontrolling Interests (18) 3 (8) 12
Net income (loss) attributable to Tyson (417) 750 (198) 2,700
Undistributed earnings (losses) $ (584) $ 589 $ (706) $ 2,206
Stock options, restricted stock and performance units 0 3 0 3
Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversions 354 362 355 364
Diluted $ (1.18) $ 2.07 $ (0.56) $ 7.42
Class A [Member]        
Earnings Per Share, Basic and Diluted [Line Items]        
Less dividends declared: $ 137 $ 132 $ 416 $ 406
Undistributed earnings (losses) $ (478) $ 484 $ (578) $ 1,813
Weighted average number of shares outstanding - Basic 284 289 285 291
Net Income Per Share Attributable to Tyson - Basic $ (1.18) $ 2.14 $ (0.56) $ 7.64
Common Stock, Dividends, Per Share, Declared $ 0.480 $ 0.460 $ 1.460 $ 1.395
Class B [Member]        
Earnings Per Share, Basic and Diluted [Line Items]        
Less dividends declared: $ 30 $ 29 $ 92 $ 88
Undistributed earnings (losses) $ (106) $ 105 $ (128) $ 393
Weighted average number of shares outstanding - Basic 70 70 70 70
Net Income Per Share Attributable to Tyson - Basic $ (1.08) $ 1.92 $ (0.51) $ 6.87
Common Stock, Dividends, Per Share, Declared $ 0.432 $ 0.414 $ 1.314 $ 1.256
v3.23.2
Earnings Per Share (Narrative) (Details)
shares in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
shares
Jul. 02, 2022
shares
Jul. 01, 2023
Classes
shares
Jul. 02, 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%   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 9 2 9 2
v3.23.2
Derivative Financial Instruments (Aggregate Outstanding Notionals) (Details)
lb in Millions, bu in Millions, $ in Millions
Jul. 01, 2023
USD ($)
T
lb
bu
Oct. 01, 2022
USD ($)
bu
lb
T
Corn (in bushels)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount | bu 75 44
Soy Meal (in tons)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount | T 645,030 532,700
Live Cattle (in pounds)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount 397 280
Lean Hogs (in pounds)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount 206 339
Foreign Currency [Member]    
Derivative [Line Items]    
Derivative, Notional Amount | $ $ 183 $ 249
v3.23.2
Derivative Financial Instruments (Pretax Impact Of Fair Value Hedge Derivative Instruments On The Consolidated Statements of Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Oct. 01, 2022
Derivative [Line Items]          
Derivative, Gain (Loss) on Derivative, Net $ (89) $ (25) $ (98) $ 139  
Fair Value Hedging [Member]          
Derivative [Line Items]          
Derivative Assets (Liabilities), at Fair Value, Net $ 23   $ 23   $ (12)
v3.23.2
Derivative Financial Instruments (Pretax Impact Of Undesignated Derivative Instruments On The Consolidated Statements Of Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ (89) $ (25) $ (98) $ 139
Cost of Sales 12,463 11,884 37,361 34,184
Other Nonoperating Income (Expense) (7) (34) (50) (111)
Interest expense $ 89 $ 85 $ 262 $ 282
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales Cost of Sales Cost of Sales
Not Designated as Hedging Instrument | Commodity contracts        
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ (84) $ (19) $ (92) $ 161
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales Cost of Sales Cost of Sales
Not Designated as Hedging Instrument | Foreign exchange contracts        
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ (7) $ 1 $ 3 $ 5
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Fair Value Hedging [Member] | Commodity contracts        
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ (5) $ (6) $ (6) $ (22)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales Cost of Sales Cost of Sales
Cash Flow Hedging [Member] | Commodity contracts        
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ 0 $ 0 $ 0 $ 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Sales Cost of Sales Cost of Sales Cost of Sales
Cash Flow Hedging [Member] | Interest Rate Contract [Member]        
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ 0 $ 0 $ (1) $ (1)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest expense Interest expense Interest expense Interest expense
v3.23.2
Derivative Financial Instruments (Narrative) (Details) - USD ($)
$ in Millions
 9 Months Ended
Jul. 01, 2023
Jul. 02, 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  
v3.23.2
Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($)
$ in Millions
 9 Months Ended
Jul. 02, 2022
Jul. 01, 2023
Oct. 01, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Liability, Collateral, Right to Reclaim Cash, Offset   $ 101 $ 10
Other income/expense      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Other Nonrecurring Gain $ 37    
Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative Asset, Netting   (83) (64)
Total assets   578 570
Derivative Liability, Netting   (184) (74)
Total liabilities   25 34
Fair Value, Recurring [Member] | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total assets   23 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   607 561
Total liabilities   209 108
Fair Value, Recurring [Member] | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total assets   31 35
Total liabilities   0 0
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   7 1
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   (3) (6)
Derivative Asset, Subject to Master Netting Arrangement, after Offset   2 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   (80) (58)
Derivative Asset, Subject to Master Netting Arrangement, after Offset   59 96
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 1      
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] | 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      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt Securities, Available-for-Sale, Current   7 1
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   5 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   139 154
Other Current Assets [Member] | Fair Value, Recurring [Member] | Level 3      
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] | 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   413 365
Debt Securities, Available-for-Sale, Noncurrent   97 100
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   23 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   390 327
Debt Securities, Available-for-Sale, Noncurrent   66 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   31 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   (28) (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   25 34
Derivative Liability, Netting   (156) (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   28 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   181 106
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
v3.23.2
Fair Value Measurements (Schedule Of Debt Securities Measured At Fair Value On A Recurring Basis, Unobservable Input Reconciliation) (Details) - USD ($)
$ in Millions
 9 Months Ended
Jul. 01, 2023
Jul. 02, 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) 1 (2)
Purchases 5 7
Issuances 0 0
Settlements (10) (15)
Balance at end of period 31 38
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) $ 0 $ 0
v3.23.2
Fair Value Measurements (Schedule Of Available For Sale Securities) (Details) - USD ($)
$ in Millions
 9 Months Ended
Jul. 01, 2023
Oct. 01, 2022
Maximum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available For Sale Securities Debt Maturity Period 46 years  
Short Term Investment Maturity Period 12 months  
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 $ 7 $ 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 7 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 97 100
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 66 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 31 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 (4) (5)
Debt Securities, Available-for-sale 73 66
Debt Securities, Available-for-sale, Amortized Cost 77 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 (1) (2)
Debt Securities, Available-for-sale 31 35
Debt Securities, Available-for-sale, Amortized Cost $ 32 $ 37
v3.23.2
Fair Value Measurements (Schedule Of Fair Value And Carrying Value Of Debt) (Details) - USD ($)
$ in Millions
Jul. 01, 2023
Oct. 01, 2022
Fair Value Disclosures [Abstract]    
Total Debt, Fair Value $ 8,827 $ 7,762
Total Debt, Carrying Value $ 9,320 $ 8,321
v3.23.2
Fair Value Measurement (Narrative) (Details) - USD ($)
$ in Millions
 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Other income/expense    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other Nonrecurring Gain   $ 37
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 46 years  
v3.23.2
Segment Reporting (Segment Reporting Information, By Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Oct. 01, 2022
Segment Reporting Information [Line Items]          
Sales $ 13,140 $ 13,495 $ 39,533 $ 39,545  
Operating Income (Loss) (350) 1,033 68 3,644  
Total Other (Income) Expense 76 47 190 161  
Income before income taxes (426) 986 (122) 3,483  
Loss Contingency Accrual 256   256   $ 215
Goodwill, Impairment Loss 448 0 $ 448 0  
Segment Reporting Information, By Segment    
Information on segments and a reconciliation to income before income taxes are as follows (in millions): 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Sales:
Beef$4,956 $4,959 $14,296 $14,995 
Pork1,324 1,619 4,274 4,810 
Chicken4,212 4,366 12,905 12,342 
Prepared Foods2,383 2,447 7,343 7,173 
International/Other633 602 1,879 1,717 
Intersegment(368)(498)(1,164)(1,492)
Total Sales$13,140 $13,495 $39,533 $39,545 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Operating Income (Loss):
Beef(a)
$66 $533 $232 $2,127 
Pork(74)25 (128)248 
Chicken(b)
(314)277 (503)615 
Prepared Foods206 186 705 635 
International/Other(c)
(234)12 (238)19 
Total Operating Income (Loss)(350)1,033 68 3,644 
Total Other (Income) Expense76 47 190 161 
Income (Loss) before Income Taxes$(426)$986 $(122)$3,483 
(a) Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales. Additionally, Beef segment results for the three and nine months ended July 2, 2022 included $27 million recognized in Cost of Sales of insurance proceeds related to a fire at one of our production facilities in the fourth quarter of fiscal 2019.
(b) Chicken segment results for the three and nine months ended July 1, 2023 included insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included charges of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales pursuant to FASB guidance related to accounting for revenue from contracts with customers, and $210 million of goodwill impairment. Additionally, Chicken segment results for the three and nine months ended July 2, 2022 included insurance proceeds, net of costs incurred, of $8 million and $26 million, respectively, recognized in Cost of Sales.
(c) International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.
    
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 EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Sales:
Beef$4,956 $4,959 $14,296 $14,995 
Pork1,324 1,619 4,274 4,810 
Chicken4,212 4,366 12,905 12,342 
Prepared Foods2,383 2,447 7,343 7,173 
International/Other633 602 1,879 1,717 
Intersegment(368)(498)(1,164)(1,492)
Total Sales$13,140 $13,495 $39,533 $39,545 
Three Months EndedNine Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Operating Income (Loss):
Beef(a)
$66 $533 $232 $2,127 
Pork(74)25 (128)248 
Chicken(b)
(314)277 (503)615 
Prepared Foods206 186 705 635 
International/Other(c)
(234)12 (238)19 
Total Operating Income (Loss)(350)1,033 68 3,644 
Total Other (Income) Expense76 47 190 161 
Income (Loss) before Income Taxes$(426)$986 $(122)$3,483 
(a) Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales. Additionally, Beef segment results for the three and nine months ended July 2, 2022 included $27 million recognized in Cost of Sales of insurance proceeds related to a fire at one of our production facilities in the fourth quarter of fiscal 2019.
(b) Chicken segment results for the three and nine months ended July 1, 2023 included insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included charges of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales pursuant to FASB guidance related to accounting for revenue from contracts with customers, and $210 million of goodwill impairment. Additionally, Chicken segment results for the three and nine months ended July 2, 2022 included insurance proceeds, net of costs incurred, of $8 million and $26 million, respectively, recognized in Cost of Sales.
(c) International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.

The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,313 $1,257 $671 $575 $140 $4,956 
Pork394 125 294 305 206 1,324 
Chicken1,823 1,636 264 467 22 4,212 
Prepared Foods1,396 898 55 34 — 2,383 
International/Other— — 633 — — 633 
Intersegment— — — — (368)(368)
Total$5,926 $3,916 $1,917 $1,381 $— $13,140 
Three months ended July 2, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$2,130 $1,255 $828 $611 $135 $4,959 
Pork466 133 313 405 302 1,619 
Chicken1,889 1,607 294 515 61 4,366 
Prepared Foods1,412 944 52 39 — 2,447 
International/Other— — 602 — — 602 
Intersegment— — — — (498)(498)
Total$5,897 $3,939 $2,089 $1,570 $— $13,495 
Nine months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$6,581 $3,577 $1,978 $1,782 $378 $14,296 
Pork1,268 356 926 994 730 4,274 
Chicken5,668 4,902 758 1,521 56 12,905 
Prepared Foods4,334 2,734 162 113 — 7,343 
International/Other— — 1,879 — — 1,879 
Intersegment— — — — (1,164)(1,164)
Total$17,851 $11,569 $5,703 $4,410 $— $39,533 
Nine months ended July 2, 2022
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
IntersegmentTotal
Beef$6,561 $3,755 $2,492 $1,776 $411 $14,995 
Pork1,374 391 884 1,204 957 4,810 
Chicken5,221 4,757 792 1,448 124 12,342 
Prepared Foods4,147 2,770 142 114 — 7,173 
International/Other— — 1,717 — — 1,717 
Intersegment— — — — (1,492)(1,492)
Total$17,303 $11,673 $6,027 $4,542 $— $39,545 
(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 		   
Broiler Antitrust Civil Litigation [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency Accrual 149   $ 149   $ 122
Payments for Legal Settlements     11 197  
Payments for Legal Settlements     11 197  
Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 4,956 4,959 14,296 14,995  
Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 1,324 1,619 4,274 4,810  
Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 4,212 4,366 12,905 12,342  
Chicken [Member] | Broiler Antitrust Civil Litigation [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period 38   38    
Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 2,383 2,447 7,343 7,173  
Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 633 602 1,879 1,717  
Operating Segments [Member] | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 4,956 4,959 14,296 14,995  
Operating Income (Loss) 66 533 232 2,127  
Operating Segments [Member] | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 1,324 1,619 4,274 4,810  
Operating Income (Loss) (74) 25 (128) 248  
Operating Segments [Member] | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 4,212 4,366 12,905 12,342  
Operating Income (Loss) (314) 277 (503) 615  
Operating Segments [Member] | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 2,383 2,447 7,343 7,173  
Operating Income (Loss) 206 186 705 635  
Segment Reconciling Items [Member] | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 633 602 1,879 1,717  
Operating Income (Loss) (234) 12 (238) 19  
Intersegment Eliminations          
Segment Reporting Information [Line Items]          
Sales (368) (498) (1,164) (1,492)  
Cost of Sales | Beef [Member]          
Segment Reporting Information [Line Items]          
Unusual or Infrequent Item, or Both, Insurance Proceeds 27   42 27  
Cost of Sales | Chicken [Member]          
Segment Reporting Information [Line Items]          
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 22 $ 8 15 $ 26  
Business Exit Costs 15   107    
Goodwill, Impairment Loss 210        
Sales          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period $ 38   $ 38    
v3.23.2
Segment Reporting Disaggregation of Revenue (By Segment and Distribution Channel) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Disaggregation of Revenue [Line Items]        
Sales $ 13,140 $ 13,495 $ 39,533 $ 39,545
Beef [Member]        
Disaggregation of Revenue [Line Items]        
Sales 4,956 4,959 14,296 14,995
Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,324 1,619 4,274 4,810
Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 4,212 4,366 12,905 12,342
Chicken [Member] | Broiler Antitrust Civil Litigation [Member]        
Disaggregation of Revenue [Line Items]        
Loss Contingency, Loss in Period 38   38  
Prepared Foods [Member]        
Disaggregation of Revenue [Line Items]        
Sales 2,383 2,447 7,343 7,173
Corporate and Other [Member]        
Disaggregation of Revenue [Line Items]        
Sales 633 602 1,879 1,717
Retail        
Disaggregation of Revenue [Line Items]        
Sales 5,926 [1] 5,897 [1] 17,851 17,303
Retail | Beef [Member]        
Disaggregation of Revenue [Line Items]        
Sales 2,313 2,130 6,581 6,561
Retail | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 394 466 1,268 1,374
Retail | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,823 1,889 5,668 5,221
Retail | Prepared Foods [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,396 1,412 4,334 4,147
Retail | Corporate and Other [Member]        
Disaggregation of Revenue [Line Items]        
Sales 0 0 0 0
Foodservice        
Disaggregation of Revenue [Line Items]        
Sales 3,916 [2] 3,939 [2] 11,569 11,673
Foodservice | Beef [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,257 1,255 3,577 3,755
Foodservice | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 125 133 356 391
Foodservice | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,636 1,607 4,902 4,757
Foodservice | Prepared Foods [Member]        
Disaggregation of Revenue [Line Items]        
Sales 898 944 2,734 2,770
Foodservice | Corporate and Other [Member]        
Disaggregation of Revenue [Line Items]        
Sales 0 0 0 0
International        
Disaggregation of Revenue [Line Items]        
Sales 1,917 [3] 2,089 [3] 5,703 6,027
International | Beef [Member]        
Disaggregation of Revenue [Line Items]        
Sales 671 828 1,978 2,492
International | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 294 313 926 884
International | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 264 294 758 792
International | Prepared Foods [Member]        
Disaggregation of Revenue [Line Items]        
Sales 55 52 162 142
International | Corporate and Other [Member]        
Disaggregation of Revenue [Line Items]        
Sales 633 602 1,879 1,717
Industrial and Other        
Disaggregation of Revenue [Line Items]        
Sales 1,381 [4] 1,570 [4] 4,410 4,542
Industrial and Other | Beef [Member]        
Disaggregation of Revenue [Line Items]        
Sales 575 611 1,782 1,776
Industrial and Other | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 305 405 994 1,204
Industrial and Other | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 467 515 1,521 1,448
Industrial and Other | Prepared Foods [Member]        
Disaggregation of Revenue [Line Items]        
Sales 34 39 113 114
Industrial and Other | Corporate and Other [Member]        
Disaggregation of Revenue [Line Items]        
Sales 0 0 0 0
Intersegment Eliminations        
Disaggregation of Revenue [Line Items]        
Sales 0 0 0 0
Intersegment Eliminations | Beef [Member]        
Disaggregation of Revenue [Line Items]        
Sales 140 135 378 411
Intersegment Eliminations | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 206 302 730 957
Intersegment Eliminations | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 22 61 56 124
Intersegment Eliminations | Prepared Foods [Member]        
Disaggregation of Revenue [Line Items]        
Sales 0 0 0 0
Intersegment Eliminations | Corporate and Other [Member]        
Disaggregation of Revenue [Line Items]        
Sales 0 0 0 0
Intersegment Eliminations        
Disaggregation of Revenue [Line Items]        
Sales $ (368) $ (498) $ (1,164) $ (1,492)
[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
v3.23.2
Segment Reporting (Narrative) (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 01, 2023
USD ($)
Segments
Jul. 02, 2022
USD ($)
Jul. 01, 2023
USD ($)
Jul. 02, 2022
USD ($)
Oct. 01, 2022
USD ($)
Segment Reporting Information [Line Items]          
Number of Operating Segments | Segments 4        
Sales $ 13,140 $ 13,495 $ 39,533 $ 39,545  
Loss Contingency Accrual 256   256   $ 215
Operating Income (Loss) (350) 1,033 68 3,644  
Broiler Antitrust Civil Litigation [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency Accrual 149   149   $ 122
Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 4,956 4,959 14,296 14,995  
Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 1,324 1,619 4,274 4,810  
Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 4,212 4,366 12,905 12,342  
Chicken [Member] | Broiler Antitrust Civil Litigation [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period 38   38    
Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 2,383 2,447 7,343 7,173  
Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 633 602 1,879 1,717  
Operating Segments [Member] | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 4,956 4,959 14,296 14,995  
Operating Income (Loss) 66 533 232 2,127  
Operating Segments [Member] | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 1,324 1,619 4,274 4,810  
Operating Income (Loss) (74) 25 (128) 248  
Operating Segments [Member] | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 4,212 4,366 12,905 12,342  
Operating Income (Loss) (314) 277 (503) 615  
Operating Segments [Member] | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 2,383 2,447 7,343 7,173  
Operating Income (Loss) 206 186 705 635  
Segment Reconciling Items [Member] | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 633 602 1,879 1,717  
Operating Income (Loss) (234) 12 (238) 19  
Intersegment Eliminations          
Segment Reporting Information [Line Items]          
Sales (368) (498) (1,164) (1,492)  
Cost of Sales | Beef [Member]          
Segment Reporting Information [Line Items]          
Unusual or Infrequent Item, or Both, Insurance Proceeds 27   42 27  
Cost of Sales | Chicken [Member]          
Segment Reporting Information [Line Items]          
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 22 $ 8 15 $ 26  
Sales          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period $ 38   $ 38    
v3.23.2
Commitments (Narrative) (Details) - USD ($)
$ in Millions
Jul. 01, 2023
Oct. 01, 2022
Jul. 02, 2022
Guarantor Obligations [Line Items]      
Guarantor Obligations, Current Carrying Value $ 0 $ 0  
Potential maximum obligation under cash flow assistance programs 280    
Total receivables under cash flow assistance programs 20 6  
Cash Flow Assistance Program, Estimated Allowance For Uncollectible Receivables 6 0  
Restricted Cash 0   $ 0
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    
v3.23.2
Contingencies (Narrative) (Details)
 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 19, 2021
USD ($)
Dec. 21, 2016
USD ($)
Nov. 29, 2016
USD ($)
plaintiff
Jul. 01, 2023
USD ($)
Jul. 01, 2023
USD ($)
Jul. 02, 2022
USD ($)
Dec. 31, 2004
USD ($)
Oct. 01, 2022
USD ($)
Loss Contingencies [Line Items]                
Loss Contingency Accrual       $ 256,000,000 $ 256,000,000     $ 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   $ 1,229            
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       149,000,000 149,000,000     $ 122,000,000
Payments for Legal Settlements         11,000,000 $ 197,000,000    
Broiler Antitrust Civil Litigation [Member] | Chicken [Member]                
Loss Contingencies [Line Items]                
Loss Contingency, Loss in Period       $ 38,000,000 $ 38,000,000      
Republic of the Philippines, Department of Labor and Employment                
Loss Contingencies [Line Items]                
Loss Contingency, Damages Awarded, Value     $ 269,000,000       $ 62,000,000  
v3.23.2
Label Element Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 1,031,000,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 2,637,000,000