TYSON FOODS, INC., 10-Q filed on 8/5/2024
Quarterly Report
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Document and Entity Information
 9 Months Ended
Jun. 29, 2024
$ / shares
shares
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Jun. 29, 2024
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 --09-28
Document Fiscal Year Focus 2024
Document Fiscal Period Focus Q3
Amendment Flag false
Entity Incorporation, State or Country Code DE
Class A [Member]  
Entity Common Stock, Shares Outstanding 285,820,693
Class B [Member]  
Entity Common Stock, Shares Outstanding 70,009,005
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Consolidated Condensed Statements Of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Sales $ 13,353 $ 13,140 $ 39,744 $ 39,533
Cost of Sales 12,475 12,463 37,177 37,361
Gross Profit 878 677 2,567 2,172
Operating Expenses:        
Selling, General and Administrative 537 579 1,683 1,656
Goodwill, Impairment Loss 0 448 0 448
Operating Income 341 (350) 884 68
Other (Income) Expense:        
Interest income (36) (6) (60) (22)
Interest Expense, Nonoperating 135 89 351 262
Other, net (11) (7) (24) (50)
Total Other (Income) Expense 88 76 267 190
Income (Loss) before Income Taxes 253 (426) 617 (122)
Income Tax Expense 57 9 159 84
Net Income (Loss) 196 (435) 458 (206)
Less: Net Income (Loss) Attributable to Noncontrolling Interests 5 (18) 15 (8)
Net Income Attributable to Tyson $ 191 $ (417) $ 443 $ (198)
Weighted Average Shares Outstanding:        
Diluted, Shares 356 284 355 285
Net Income Per Share Attributable to Tyson:        
Diluted (USD per share) $ 0.54 $ (1.18) $ 1.25 $ (0.56)
Class A [Member]        
Weighted Average Shares Outstanding:        
Basic, Shares 284 284 284 285
Diluted, Shares 284 284 284 285
Net Income Per Share Attributable to Tyson:        
Basic (USD per share) $ 0.55 $ (1.18) $ 1.28 $ (0.56)
Class B [Member]        
Weighted Average Shares Outstanding:        
Basic, Shares 70 70 70 70
Diluted, Shares 70 0 70 0
Net Income Per Share Attributable to Tyson:        
Basic (USD per share) $ 0.49 $ (1.08) $ 1.14 $ (0.51)
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Consolidated Condensed Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Other Comprehensive Income (Loss), Net of Taxes:        
Investments $ 0 $ 0 $ 2 $ 2
Currency translation (32) (35) (28) 64
Postretirement benefits 0 0 2 1
Total Other Comprehensive Income (Loss), Net of Taxes (44) (35) (35) 68
Net Income (Loss) 196 (435) 458 (206)
Comprehensive Income (Loss) 152 (470) 423 (138)
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests 4 (18) 15 (8)
Comprehensive Income (Loss) Attributable to Tyson 148 (452) 408 (130)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax $ (12) $ 0 $ (11) $ 1
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Consolidated Condensed Balance Sheets - USD ($)
$ in Millions
Jun. 29, 2024
Sep. 30, 2023
Assets    
Cash and cash equivalents $ 2,569 $ 573
Accounts receivable, net 2,389 2,476
Inventories 5,033 5,328
Other current assets 581 345
Total Current Assets 10,572 8,722
Net Property, Plant and Equipment 9,368 9,634
Goodwill 9,801 9,878
Intangible Assets, net 5,928 6,098
Other Assets 2,063 1,919
Total Assets 37,732 36,251
Liabilities and Shareholders' Equity    
Current debt 1,320 1,895
Accounts payable 2,291 2,594
Other current liabilities 2,199 2,010
Total Current Liabilities 5,810 6,499
Long-Term Debt 9,701 7,611
Deferred Income Taxes 2,318 2,308
Other Liabilities 1,701 1,578
Shareholders' Equity:    
Capital in excess of par value 4,578 4,560
Retained earnings 18,687 18,760
Accumulated other comprehensive gain (loss) (295) (260)
Treasury stock, at cost – 91 million shares at June 29, 2024 and 92 million shares at September 30, 2023 (4,939) (4,972)
Total Tyson Shareholders’ Equity 18,076 18,133
Noncontrolling Interests 126 122
Total Shareholders’ Equity 18,202 18,255
Total Liabilities and Shareholders’ Equity 37,732 36,251
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
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Consolidated Condensed Balance Sheets (Parentheticals) - USD ($)
shares in Millions, $ in Millions
Jun. 29, 2024
Sep. 30, 2023
Treasury Stock, Common, Shares 92 92
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
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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         88.0        
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   $ 4,553 $ 20,084 $ (297) $ (4,683)        
Balance at beginning of quarter, Treasury Stock shares at Oct. 01, 2022         88.0        
Balance at beginning of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Oct. 01, 2022             $ 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   4,543 19,378 (229) $ (4,958) $ 18,779      
Balance at end of quarter, Treasury Stock shares at Jul. 01, 2023         92.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jul. 01, 2023             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   4,543 19,378 (229) $ (4,958) 18,779      
Balance at end of quarter, Treasury Stock shares at Jul. 01, 2023         92.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jul. 01, 2023             131    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares         92.0        
Balance at end of quarter, Total Shareholders' Equity $ 18,910                
Common Stock, Value, Issued               $ 7 $ 38
Treasury Stock, Common, Shares 92.0       92.0        
Balance at end of quarter, Total Shareholders' Equity $ 18,255                
Common Stock, Value, Issued               $ 7 $ 38
Balance at beginning of quarter, Common Stock Shares at Sep. 30, 2023               70.0 378.0
Balance at beginning of quarter, Shareholders' Equity Attributable to Tyson at Sep. 30, 2023 $ 18,133 4,560 18,760 (260) $ (4,972)        
Balance at beginning of quarter, Treasury Stock shares at Sep. 30, 2023 92.0       92.0        
Balance at beginning of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Sep. 30, 2023 $ 122           122    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock-based compensation and other   18     $ 77        
Net income (loss) attributable to Tyson 443   443            
Dividends     (516)         $ (93) $ (423)
Other comprehensive income (loss) (35)     (35)          
Purchase of Class A common stock, shares         0.0       0.8
Payments for Repurchase of Common Stock         $ (44)       $ (44)
Stock-based compensation, shares         (1.0)        
Net income (loss) attributable to noncontrolling interests 15           (15)    
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders             (11)    
Currency translation and other             1    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other (1)                
Balance at end of quarter, Common Stock Shares at Jun. 29, 2024               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Jun. 29, 2024 $ 18,076 4,578 18,687 (295) $ (4,939) 18,076      
Balance at end of quarter, Treasury Stock shares at Jun. 29, 2024 92.0       91.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jun. 29, 2024 $ 126           126    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares         91.0        
Common Stock, Value, Issued               $ 7 $ 38
Balance at beginning of quarter, Common Stock Shares at Mar. 30, 2024               70.0 378.0
Balance at beginning of quarter, Shareholders' Equity Attributable to Tyson at Mar. 30, 2024   4,556 18,667 (252) $ (4,927)        
Balance at beginning of quarter, Treasury Stock shares at Mar. 30, 2024         91.0        
Balance at beginning of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Mar. 30, 2024             134    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock-based compensation and other   22     $ 1        
Net income (loss) attributable to Tyson 191   191            
Dividends     (171)         $ (31) $ (140)
Other comprehensive income (loss) (44)     (43)          
Purchase of Class A common stock, shares         0.0       0.2
Payments for Repurchase of Common Stock         $ (13)       $ (13)
Stock-based compensation, shares         0.0        
Net income (loss) attributable to noncontrolling interests 5           (5)    
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders             (11)    
Currency translation and other             0    
Noncontrolling Interest, Increase/(Decrease) from Currency Translation and Other (2)                
Balance at end of quarter, Common Stock Shares at Jun. 29, 2024               70.0 378.0
Balance at end of quarter, Shareholders' Equity Attributable to Tyson at Jun. 29, 2024 $ 18,076 $ 4,578 $ 18,687 $ (295) $ (4,939) $ 18,076      
Balance at end of quarter, Treasury Stock shares at Jun. 29, 2024 92.0       91.0        
Balance at end of quarter, Shareholders' Equity Attributable to Noncontrolling Interest at Jun. 29, 2024 $ 126           $ 126    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Treasury Stock, Common, Shares 92.0       91.0        
Balance at end of quarter, Total Shareholders' Equity $ 18,202                
Common Stock, Value, Issued               $ 7 $ 38
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Consolidated Condensed Statements Of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash Flows From Investing Activities:    
Additions to property, plant and equipment $ (884) $ (1,564)
Purchases of marketable securities (23) (21)
Proceeds from sale of marketable securities 21 20
Payments to Acquire Businesses, Net of Cash Acquired 0 (262)
Payments to Acquire Equity Method Investments (28) (50)
Other, net 60 5
Cash Used for Investing Activities (854) (1,872)
Cash Flows From Operating Activities:    
Net Income (Loss) 458 (206)
Depreciation and amortization 1,082 943
Deferred income taxes 6 (54)
Other, net 162 200
Net changes in operating assets and liabilities 265 98
Cash Provided by Operating Activities 1,973 1,429
Cash Flows From Financing Activities:    
Proceeds from issuance of debt 2,391 1,117
Repayments of Debt and Lease Obligation 347 175
Proceeds from issuance of commercial paper 1,649 7,015
Repayments of Commercial Paper (2,240) (7,015)
Dividends (513) (503)
Stock options exercised 9 10
Other, net (22) (5)
Cash Provided by Financing Activities 883 101
Cash and cash equivalents 2,569 699
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 2,569 699
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 1,996 (332)
Restricted Cash 0 0
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (6) 10
Other Noncash Income (Expense) (162) (200)
Goodwill, Impairment Loss 0 448
Class A [Member]    
Cash Flows From Financing Activities:    
Purchases of Tyson Class A common stock (44) (343)
Payments for Repurchase of Common Stock $ 44 $ 343
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Other Comprehensive Income (Loss)
 9 Months Ended
Jun. 29, 2024
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
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 $— $1 
Unrealized gain (loss)(16)4 (12)— — — (16)4 (12)— — — 
Investments:
Unrealized gain (loss)1 (1)— — — — 3 (1)2 2 — 2 
Currency translation:
Translation adjustment(a)
(32)— (32)(35)— (35)(28)— (28)64 — 64 
Postretirement benefits:
Unrealized gain (loss)— — — — — — 3 (1)2 1 — 1 
Total other comprehensive income (loss)$(47)$3 $(44)$(35)$— $(35)$(37)$2 $(35)$68 $— $68 
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Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Jun. 29, 2024
Statement of Comprehensive Income [Abstract]  
Components Of Other Comprehensive Income (Loss)
The before and after-tax changes in the components of other comprehensive income (loss) are as follows (in millions):
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Before TaxTaxAfter TaxBefore TaxTaxAfter TaxBefore TaxTaxAfter TaxBefore TaxTaxAfter Tax
Derivatives accounted for as cash flow hedges:
(Gain) loss reclassified to interest expense$— $— $— $— $— $— $1 $— $1 $1 $— $1 
Unrealized gain (loss)(16)4 (12)— — — (16)4 (12)— — — 
Investments:
Unrealized gain (loss)1 (1)— — — — 3 (1)2 2 — 2 
Currency translation:
Translation adjustment(a)
(32)— (32)(35)— (35)(28)— (28)64 — 64 
Postretirement benefits:
Unrealized gain (loss)— — — — — — 3 (1)2 1 — 1 
Total other comprehensive income (loss)$(47)$3 $(44)$(35)$— $(35)$(37)$2 $(35)$68 $— $68 
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Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Other Comprehensive Income Loss [Line Items]        
Total Other Comprehensive Income (Loss), Before Tax $ (47) $ (35) $ (37) $ 68
Total Other Comprehensive Income (Loss), Tax 3 0 2 0
Other comprehensive income (loss) (44) (35) (35) 68
Commodity contracts | Cash Flow Hedging [Member]        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax (16) 0 (16) 0
Derivatives accounted for as cash flow hedges:        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax (16) 0 (16) 0
Other Comprehensive Income (Loss), Before Reclassifications, Tax 4 0 4 0
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax (12) 0 (12) 0
Derivatives accounted for as cash flow hedges: | Interest Expense [Member]        
Other Comprehensive Income Loss [Line Items]        
Reclassification from Accumulated Other Comprehensive Income, Before Tax 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 1 0 3 2
Other Comprehensive Income (Loss), Before Reclassifications, Tax (1) 0 (1) 0
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax 0 0 2 2
Currency translation:        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax (32) (35) (28) 64
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 0 0 0
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax (32) (35) (28) 64
Postretirement benefits:        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax 0 0 3 1
Other Comprehensive Income (Loss), Before Reclassifications, Tax 0 0 (1) 0
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax 0 $ 0 2 $ 1
Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest        
Other Comprehensive Income Loss [Line Items]        
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax     0  
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax $ (1)   $ 0  
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Accounting Policies
 9 Months Ended
Jun. 29, 2024
Policy Text Block [Abstract]  
Accounting Policies ACCOUNTING POLICIES
Basis of Presentation
The consolidated condensed financial statements are unaudited and have been prepared by Tyson Foods, Inc. (“Tyson,” “the Company,” “we,” “us” or “our”). Certain information and accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Although we believe the disclosures contained herein are adequate to make the information presented not misleading, these consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023. 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 June 29, 2024 and the results of operations for the three and nine months ended June 29, 2024 and July 1, 2023. Results of operations and cash flows for the periods presented are not necessarily indicative of results to be expected for the full year.
Consolidation
The consolidated condensed financial statements include the accounts of all wholly-owned subsidiaries, as well as majority-owned subsidiaries over which we exercise control and, when applicable, entities for which we have a controlling financial interest or variable interest entities for which we are the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in consolidation.
Goodwill and Intangible Assets
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 macroeconomic 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.
Our qualitative assessment for the first three quarters of fiscal 2024 did not indicate that it was more likely than not the fair value of any of our reporting units or indefinite lived intangibles was less than the carrying amount, and as such, no quantitative test was deemed necessary. We consider reporting units and indefinite lived intangibles that have 20% or less excess fair value over carrying amount to have a heightened risk of impairment. The following reporting units and indefinite lived intangibles were considered at heightened risk of impairment as of the date of the most recent estimated fair value determination, which was in the fourth quarter of fiscal 2023: our Chicken segment reporting units, our Beef reporting unit and our Pork reporting unit with goodwill totaling $3.1 billion, $0.3 billion and $0.4 billion, respectively, and two Prepared Foods brands with carrying values of $0.5 billion and $0.3 billion.
Some of the inherent estimates and assumptions used in determining fair value of the reporting units are outside the control of management, including interest rates, cost of capital, tax rates, market EBITDA comparables and credit ratings. While we believe we have made reasonable estimates and assumptions to calculate the fair value of the reporting units, it is possible a material change could occur. If our actual results are not consistent with our estimates and assumptions used to calculate fair value, it could result in additional material impairments of our goodwill.
Use of Estimates
The consolidated condensed financial statements are prepared in conformity with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the amounts reported in the consolidated condensed financial statements and accompanying notes. Actual results could differ from those estimates. During the first quarter of fiscal 2023, we revised estimates and recorded adjustments of approximately $30 million primarily to reduce certain employee compensation accruals recorded as of October 1, 2022.
New Regulation
On November 28, 2023, the United States Department of Agriculture published the Transparency in Poultry Grower Contracting and Tournaments rule that amended section 202(a) of the Packers and Stockyards Act to introduce new disclosure requirements that live poultry dealers must furnish to contract broiler growers. The rule was effective February 12, 2024, and directed live poultry dealers to amend broiler grower contracts to reflect certain new requirements. In compliance with the rule, we offered amendments to all our broiler growers which encompassed the new requirements, including but not limited to minimum number of flock placements and stocking density. As the amendments to certain contracts created fixed minimum payments associated with embedded leases, we have recognized as of June 29, 2024 a $72 million right-of-use asset and corresponding lease liability. These are reflected in the Consolidated Condensed Balance Sheets within Other Assets, Other current liabilities and Other Liabilities.
Recently Issued Accounting Pronouncements
In March 2024, the SEC issued a final rule that will require registrants to provide certain climate-related information in their registration statements and annual reports. The rule is effective for annual reporting periods beginning in 2025, our fiscal 2026, and will be applied prospectively. We are currently evaluating the impact this guidance will have on our consolidated financial statements.
In December 2023, the Financial Accounting Standards Board (the "FASB") issued authoritative guidance to enhance the transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The guidance is effective for annual reporting periods beginning after December 15, 2024, our fiscal 2026 and will be applied prospectively. We are currently evaluating the impact this guidance will have on disclosures in our consolidated financial statements.
In November 2023, the FASB issued authoritative guidance to improve the disclosures about a public entity's reportable segments and address requests from investors for additional, more detailed information about a reportable segment's expenses. The guidance is effective for annual reporting periods beginning after December 15, 2023, our fiscal 2025, and interim reporting periods within fiscal years beginning after December 15, 2024, our fiscal 2026. Amendments will be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact this guidance will have on disclosures in our consolidated financial statements.
In March 2023, the FASB issued authoritative guidance intended to address issues related to arrangements between entities under common control such as terms and conditions an entity should consider for determining whether a lease exists and the classification and accounting for that lease as well as accounting for leasehold improvements associated with leases between entities under common control. The guidance is effective for annual reporting periods and interim periods within those annual reporting periods beginning after December 15, 2023, our fiscal 2025 and can be applied using either the prospective or retrospective approach. We do not expect the adoption of this guidance will have a material impact on our consolidated financial statements.
In September 2022, 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 elected to early adopt the initial disclosure requirement for the fiscal year ended September 30, 2023, and it did not have a material impact on our consolidated financial statements.
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Acquisitions and Dispositions
 9 Months Ended
Jun. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions and Dispositions ACQUISITIONS AND DISPOSITIONS
In the third quarter of fiscal 2023, we acquired Williams Sausage Company for $220 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 our Prepared Foods segment and through June 29, 2024 were insignificant to our Consolidated Condensed Statements of Income. The purchase price allocation included $15 million of net working capital, including $3 million of cash acquired, $67 million of Property, Plant and Equipment, $107 million of Goodwill, $65 million of Intangible Assets, and $31 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. $50 million 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 and through June 29, 2024 were insignificant to our Consolidated Condensed Statements of Income. We are accounting for the investment in ADC under the equity method.
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Inventories
 9 Months Ended
Jun. 29, 2024
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 June 29, 2024, 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 September 30, 2023. Inventories are presented net of lower of cost or net realizable value adjustments of $139 million and $145 million as of June 29, 2024 and September 30, 2023, respectively.
The following table reflects the major components of inventory (in millions):
June 29, 2024September 30, 2023
Processed products$2,785 $2,847 
Livestock1,429 1,594 
Supplies and other819 887 
Total inventory$5,033 $5,328 
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Property, Plant And Equipment
 9 Months Ended
Jun. 29, 2024
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): 
June 29, 2024September 30, 2023
Land$216 $219 
Buildings and leasehold improvements6,802 6,460 
Machinery and equipment11,215 10,680 
Land improvements and other585 559 
Buildings and equipment under construction894 1,782 
19,712 19,700 
Less accumulated depreciation10,344 10,066 
Net Property, Plant and Equipment$9,368 $9,634 
v3.24.2.u1
Restructuring and Related Charges
 9 Months Ended
Jun. 29, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Charges RESTRUCTURING AND RELATED CHARGES
2022 Program
The Company approved a restructuring program in fiscal 2022 (the “2022 Program”) to improve business performance, increase collaboration, enhance team member agility, enable faster decision-making and reduce redundancies. The following table reflects the total pretax anticipated expenses associated with the 2022 Program (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$25 $7 $22 $53 $18 $125 
Relocation and related costs22 7 3 21 — 53 
Accelerated depreciation5 2 — 12 — 19 
Contract and lease terminations— — — 21 — 21 
Professional and other fees2 1 — 4 — 7 
Total 2022 Program$54 $17 $25 $111 $18 $225 
Restructuring costs include severance expenses and related charges directly associated with the 2022 Program such as relocation, contract and lease terminations, professional fees and accelerated depreciation resulting from the closure of facilities. We anticipate that $48 million and $177 million of the total pretax anticipated expense will be recorded in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the table above are $199 million of charges that have resulted or will result in cash outflows and $26 million in non-cash charges.
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the first nine months of fiscal 2024 by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$1 $— $2 $1 $— $4 
Relocation and related costs3 1 — 4 — 8 
Accelerated depreciation— — — — — — 
Contract and lease terminations— — — 19 — 19 
Professional and other fees— — — — — — 
Total$4 $1 $2 $24 $— $31 
For the first nine months of fiscal 2024, we recorded restructuring and related charges of $31 million in Selling, General and Administrative in our Consolidated Condensed Statements of Income. Included in the above results are $21 million of charges that have resulted or will result in cash outflows and $10 million in non-cash charges.
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 
For the third quarter of fiscal 2023, we recorded restructuring and related charges of $19 million and $31 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. There were no charges for the third quarter of fiscal 2024.
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 
For the first nine months of fiscal 2023, we recorded restructuring and related charges of $23 million and $70 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the above results are $80 million of charges that have resulted or will result in cash outflows and $13 million in non-cash charges.
The following table reflects the pretax 2022 Program charges to date by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$25 $7 $22 $53 $18 $125 
Relocation and related costs21 7 2 20 — 50 
Accelerated depreciation5 2 — 12 — 19 
Contract and lease terminations— — — 21 — 21 
Professional and other fees2 1 — 3 — 6 
Total$53 $17 $24 $109 $18 $221 
Through the third quarter of fiscal 2024, we recorded restructuring and related charges to date of $47 million and $174 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the above results are $195 million of charges to date that have resulted or will result in cash outflows and $26 million in non-cash charges to date.
The following table reflects our liability related to the 2022 Program, which was recognized in Other current liabilities in our Consolidated Condensed Balance Sheet as of June 29, 2024 (in millions):
Balance at September 30, 2023Restructuring ExpensePaymentsChanges in EstimatesBalance at June 29, 2024
Severance costs$58 $6 $(51)$(2)$11 
Relocation and related costs5 8 (11)— 2 
Contract and lease termination— 9 (9)— — 
Professional and other fees2 — — (1)1 
Total$65 $23 $(71)$(3)$14 
As the Company continues to evaluate its business strategies and long-term growth targets, additional restructuring activities may occur.
Plant Closures
During fiscal 2023, as part of a strategic review of assets, the Company approved the closure of six Chicken segment processing facilities located in Glen Allen, Virginia; Van Buren, Arkansas; Corydon, Indiana; Dexter, Missouri; Noel, Missouri; and North Little Rock, Arkansas, to optimize asset utilization. As of the second quarter of fiscal 2024, we shifted production to other facilities and ceased operations at all six facilities. Additionally, during the first quarter of fiscal 2024, the Company approved the closure of two case ready value-added plants in our Beef segment located in Columbia, South Carolina and Jacksonville, Florida and during the second quarter of fiscal 2024 approved the closure of a Pork segment processing facility in Perry, Iowa to optimize asset utilization. We shifted production to other facilities and ceased operations at our Columbia and Jacksonville facilities during the first quarter of fiscal 2024, and shifted production and ceased operations at our Perry facility during the third quarter of fiscal 2024.
As a result of the plant closures, we recorded $41 million and $155 million of charges in the third quarter and first nine months of fiscal 2024, respectively, and $15 million and $107 million of charges in the third quarter and first nine months of fiscal 2023, primarily related to grower contract terminations, accelerated depreciation, severance, retention and related costs. The charges are reflected in the Consolidated Condensed Statements of Income in Cost of Sales. Included in the results for the first nine months of fiscal 2024 are $12 million of charges that have resulted or will result in cash outflows and $143 million in non-cash charges. Included in the results for the first nine months of fiscal 2023 are $83 million of charges that have resulted or will result in cash outflows and $24 million of non-cash charges.
The following table reflects our liability related to plant closures as of June 29, 2024 (in millions):
Balance at September 30, 2023Plant Closure ChargesPaymentsBalance at June 29, 2024
Contract termination$151 $13 $(64)$100 
Severance and retention14 9 (12)11 
Total$165 $22 $(76)$111 
During the first quarter of fiscal 2024, we experienced a fire at a production facility in the Netherlands which is included in International/Other for segment presentation. Subsequent to the first quarter of fiscal 2024, we recognized additional charges due to our decision to sell the facility. For the third quarter and first nine months of fiscal 2024, these charges totaled $3 million and $83 million, respectively, primarily related to property, plant and equipment impairments, severance costs, inventory write-offs and clean-up costs, partially offset by insurance proceeds. The net charges are reflected in the Consolidated Condensed Statements of Income in Cost of Sales and, for the first nine months of fiscal 2024, included $30 million of charges that have resulted or will result in cash outflows and $58 million of non-cash charges, offset by $5 million of insurance proceeds.
We continue to strategically evaluate optimization of such items as network capacity, manufacturing efficiencies and business technology. If we have a significant change in strategies, outlook, or a manner in which we plan to use these assets, we may experience future charges.
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Other Current Liabilities
 9 Months Ended
Jun. 29, 2024
Other Liabilities, Current [Abstract]  
Other Current Liabilities OTHER CURRENT LIABILITIES
Other current liabilities are as follows (in millions):
June 29, 2024September 30, 2023
Accrued salaries, wages and benefits$826 $672 
Taxes payable149 156 
Accrued current legal contingencies351 289 
Other873 893 
Total other current liabilities$2,199 $2,010 
v3.24.2.u1
Debt
 9 Months Ended
Jun. 29, 2024
Debt Instruments [Abstract]  
Debt DEBT
The major components of debt are as follows (in millions):
June 29, 2024September 30, 2023
Revolving credit facility$— $— 
Commercial paper— 592 
Senior notes:
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 
5.40% Notes due March 2029 ("5.40% 2029 Notes")600 — 
6.13% Notes due November 2032158 158 
5.70% Notes due March 2034 ("5.70% 2034 Notes")900 — 
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)(36)
Term loans:
Term loan facility due May 2026 (6.49% at June 29, 2024)750 1,000 
Term loan facility due May 2028 (7.18% at June 29, 2024)750 — 
Other280 164 
Unamortized debt issuance costs(48)(40)
Total debt11,021 9,506 
Less current debt1,320 1,895 
Total long-term debt$9,701 $7,611 
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 June 29, 2024, 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 June 29, 2024 we had $87 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.
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 June 29, 2024, we had no commercial paper outstanding. Our ability to access commercial paper in the future may be limited or its costs increased.
5.40% 2029 Notes/5.70% 2034 Notes
In March 2024, we issued senior unsecured notes with an aggregate principal amount of $1.5 billion, consisting of $600 million due March 2029 ("5.40% 2029 Notes") and $900 million due March 2034 ("5.70% 2034 Notes"). A portion of the net proceeds from the issuances were used to repay $250 million of the amount outstanding under our term loan facility due May 2026 and we expect to use the remainder of the proceeds to retire the August 2024 notes. Interest payments on the 5.40% 2029 Notes and 5.70% 2034 Notes are due semi-annually on March 15 and September 15, beginning September 15, 2024. After the original issue discounts of $3 million, we received net proceeds of $1,497 million and incurred debt issuance costs of $14 million related to the issuances.
Term Loan Facilities
We have a $750 million term loan facility that matures in May 2026 and a $750 million term loan facility that matures in May 2028. In the first quarter of fiscal 2024, we borrowed the full $750 million available under the loan facility that matures in May 2028 and used it to repay $592 million of outstanding commercial paper obligations. Both term loans may be prepaid under certain conditions and 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 June 29, 2024.
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Equity
 9 Months Ended
Jun. 29, 2024
Equity [Abstract]  
Equity EQUITY
Share Repurchases
As of June 29, 2024, 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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
SharesDollarsSharesDollarsSharesDollarsSharesDollars
Shares repurchased:
Under share repurchase program— $— — $— — $— 4.7 $300 
To fund certain obligations under equity compensation plans0.2 13 0.2 11 0.8 44 0.7 43 
Total share repurchases0.2 $13 0.2 $11 0.8 $44 5.4 $343 
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Income Taxes
 9 Months Ended
Jun. 29, 2024
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Our effective tax rate was 22.9% on pretax income for the third quarter of fiscal 2024, (1.8)% on pretax loss for the third quarter of fiscal 2023, 25.9% on pretax income for the first nine months of fiscal 2024 and (67.9)% on pretax loss for the first nine months of fiscal 2023. The effective tax rates for the third quarter and first nine months of fiscal 2024 are higher than the federal statutory tax rate due to the impact of foreign losses for which a tax benefit cannot be recognized, offset by a $9 million benefit from the remeasurement of deferred income taxes, primarily due to legislation decreasing state tax rates enacted in the third quarter of fiscal 2024. In all periods presented, the effective tax rates were increased due to state taxes and include the impact of 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. The effective tax rates for the third quarter and first nine months of fiscal 2023 include the impact of a $448 million non-deductible goodwill impairment.
Unrecognized tax benefits were $136 million and $131 million at June 29, 2024 and September 30, 2023, 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 $481 million (8.8 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.
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Earnings Per Share
 9 Months Ended
Jun. 29, 2024
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Numerator:
Net income (loss)$196 $(435)$458 $(206)
Less: Net income (loss) attributable to noncontrolling interests5 (18)15 (8)
Net income (loss) attributable to Tyson191 (417)443 (198)
Less dividends declared:
Class A 140 137 423 416 
Class B 31 30 93 92 
Undistributed earnings (losses)$20 $(584)$(73)$(706)
Class A undistributed earnings (losses)$16 $(478)$(60)$(578)
Class B undistributed earnings (losses)4 (106)(13)(128)
Total undistributed earnings (losses)$20 $(584)$(73)$(706)
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares284 284 284 285 
Class B weighted average shares70 70 70 70 
Denominator for diluted earnings per share:
Class A weighted average shares284 284 284 285
Class B weighted average shares under the if-converted method for diluted earnings per share(a)
70 — 70 — 
Effect of dilutive securities: Stock options, restricted stock and performance units2 — 1 — 
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a)
356 284 355 285 
Net income (loss) per share attributable to Tyson:
Class A basic$0.55 $(1.18)$1.28 $(0.56)
Class B basic$0.49 $(1.08)$1.14 $(0.51)
Diluted(a)
$0.54 $(1.18)$1.25 $(0.56)
Dividends Declared Per Share:
Class A$0.490 $0.480 $1.480 $1.460 
Class B$0.441 $0.432 $1.332 $1.314 
(a) For the three and nine months ended July 1, 2023, as the Company was in a net loss position, the impact of the Class B shares under the if-converted method is antidilutive and therefore we have not assumed conversion. As a result, the Class B weighted average shares, dividends declared and undistributed losses were excluded for the purposes of calculating Net Income (Loss) Per Share Attributable to Tyson on a diluted basis. Accordingly, the Company adjusted the presentation for the three and nine months ended July 1, 2023 to remove the 70 million Class B weighted average shares, which did not change diluted net loss per share attributable to Tyson.
Approximately 5 million and 7 million of our stock-based compensation shares were antidilutive for the three and nine months ended June 29, 2024, respectively. Approximately 9 million of our stock-based compensation shares were antidilutive for the three and nine months ended July 1, 2023. 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.
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Derivative Financial Instruments
 9 Months Ended
Jun. 29, 2024
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 June 29, 2024.
We had the following net aggregated outstanding notional amounts related to our derivative financial instruments:
in millions, except soybean meal tonsMetricJune 29, 2024September 30, 2023
Commodity:
CornBushels60 65 
Soybean MealTons510,856 956,630 
Live CattlePounds92 319 
Lean HogsPounds188 454 
Foreign CurrencyUnited States dollar$274 $171 
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 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. Based on market prices as of June 29, 2024, we have net pretax losses of $16 million for our commodity contracts, which are expected to be reclassified into earnings within the next twelve months. Additionally, we have $11 million of realized losses related to treasury rate locks in connection with the issuance of the 2026, 2029 and 2048 Notes, which will be reclassified to earnings over the lives of these notes. During the nine months ended June 29, 2024 and July 1, 2023, we did not reclassify significant pretax gains or losses into earnings as a result of the discontinuance of cash flow hedges. The following table sets forth the pretax impact of cash flow hedge derivative instruments recognized in Other Comprehensive Income (in millions):
Three Months EndedNine Months Ended
Gain (Loss) Recognized in OCI on DerivativesJune 29, 2024July 1, 2023June 29, 2024July 1, 2023
Cash flow hedge - derivatives designated as hedging instruments:
Commodity contracts$(16)$— $(16)$— 
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 June 29, 2024, and July 1, 2023. The following table sets forth the carrying amount of fair value hedge (assets) liabilities as of June 29, 2024 and September 30, 2023 (in millions):
Consolidated Condensed Balance Sheets ClassificationJune 29, 2024September 30, 2023
Inventory$(14)$16 
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Cost of Sales$12,475 $12,463 $37,177 $37,361 
Interest Expense135 89 351 262 
Other, net(11)(7)(24)(50)
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Cost of SalesGain (Loss) on fair value hedges:
Commodity contracts (a) $2 $(5)$5 $(6)
Gain (Loss) on cash flow hedges reclassified from OCI to earnings:
Commodity contracts— — — — 
Gain (Loss) on derivatives not designated as hedging instruments:
Commodity contracts4 (84)(50)(92)
Total$6 $(89)$(45)$(98)
Interest ExpenseGain (Loss) on cash flow hedges reclassified from OCI to earnings:
Interest rate contracts$— $— $(1)$(1)
Other, netGain (Loss) on derivatives not designated as hedging instruments:
Foreign exchange contracts$(2)$(7)$(2)$3 
(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.
v3.24.2.u1
Fair Value Measurements
 9 Months Ended
Jun. 29, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy contains three levels as follows:
Level 1 — Unadjusted quoted prices available in active markets for the identical assets or liabilities at the measurement date.
Level 2 — Other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including:
•Quoted prices for similar assets or liabilities in active markets;
•Quoted prices for identical or similar assets in non-active markets;
•Inputs other than quoted prices that are observable for the asset or liability; and
•Inputs derived principally from or corroborated by other observable market data.
Level 3 — Unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability.
The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions): 
June 29, 2024Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $17 $— $(11)$6 
Undesignated — 94 — (59)35 
Available-for-sale securities (current)— 13 — — 13 
Other Assets:
Available-for-sale securities (non-current)— 67 29 — 96 
Deferred compensation assets17 440 — — 457 
Total assets$17 $631 $29 $(70)$607 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $19 $— $(19)$— 
Undesignated — 105 — (90)15 
Total liabilities$— $124 $— $(109)$15 
September 30, 2023Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $7 $— $(2)$5 
Undesignated — 95 — (19)76 
Available-for-sale securities (current)— 15 — — 15 
Other Assets:
Available-for-sale securities (non-current)— 59 30 — 89 
Deferred compensation assets27 375 — — 402 
Total assets$27 $551 $30 $(21)$587 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $27 $— $(27)$— 
Undesignated — 126 — (107)19 
Total liabilities$— $153 $— $(134)$19 
(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 June 29, 2024, and September 30, 2023, we had $39 million and $113 million, respectively, of net cash collateral with various counterparties where master netting arrangements exist and held no cash collateral.
The following table provides a reconciliation between the beginning and ending balance of marketable debt securities measured at fair value on a recurring basis in the table above that used significant unobservable inputs (Level 3) (in millions): 
Nine Months Ended
June 29, 2024July 1, 2023
Balance at beginning of year$30 $35 
Total realized and unrealized gains (losses):
Included in other comprehensive income (loss)1 1 
Purchases3 5 
Issuances— — 
Settlements(5)(10)
Balance at end of period$29 $31 
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
$— $— 
The following methods and assumptions were used to estimate the fair value of each class of financial instrument:
Derivative Assets and Liabilities
Our derivative financial instruments primarily include exchange-traded and over-the-counter contracts which are further described in Note 11: Derivative Financial Instruments. We record our derivative financial instruments at fair value using quoted market prices, adjusted where necessary for credit and non-performance risk and internal models that use readily observable market inputs as their basis, including current and forward market prices and rates. We classify these instruments in Level 2 when quoted market prices can be corroborated utilizing observable current and forward commodity market prices on active exchanges or observable market transactions.
Available-for-Sale Securities
Our investments in marketable debt securities are classified as available-for-sale and are reported at fair value based on pricing models and quoted market prices adjusted for credit and non-performance risk. Short-term investments with maturities of less than 12 months are included in Other current assets in the Consolidated Condensed Balance Sheets. All other marketable debt securities are included in Other Assets in the Consolidated Condensed Balance Sheets and have maturities ranging up to 45 years.
We classify our investments in U.S. government, U.S. agency, certificates of deposit and commercial paper debt securities as Level 2 as fair value is generally estimated using discounted cash flow models that are primarily industry-standard models that consider various assumptions, including time value and yield curve as well as other readily available relevant economic measures. We classify certain corporate, asset-backed and other debt securities as Level 3 as there is limited activity or less observable inputs into valuation models, including current interest rates and estimated prepayment, default and recovery rates on the underlying portfolio or structured investment vehicle. Significant changes to assumptions or unobservable inputs in the valuation of our Level 3 instruments would not have a significant impact to our consolidated condensed financial statements.
The following table sets forth our available-for-sale securities’ amortized cost basis, fair value and unrealized gain (loss) by significant investment category (in millions):
June 29, 2024September 30, 2023
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$83 $80 $(3)$79 $74 $(5)
Corporate and asset-backed29 29 — 31 30 (1)
Unrealized holding gains (losses), net of tax, are excluded from earnings and reported in OCI until the security is settled or sold. On a quarterly basis, we evaluate whether losses related to our available-for-sale securities are due to credit or non-credit factors. Losses on debt securities where we have the intent, or will more than likely be required, to sell the security prior to recovery, would be recorded as a direct write-off of amortized cost basis through earnings. Losses on debt securities where we do not have the intent, or would not more than likely be required to sell the security prior to recovery, would be further evaluated to determine whether the loss is credit or non-credit related. Credit-related losses would be recorded through an allowance for credit losses through earnings and non-credit related losses through OCI.
We consider many factors in determining whether a loss is credit-related, including the financial condition and near-term prospects of the issuer, borrower repayment characteristics for asset-backed securities, and our ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery. We recognized no direct write-offs or allowances for credit losses in earnings for the nine months ended June 29, 2024, and July 1, 2023.
Deferred Compensation Assets
We maintain non-qualified deferred compensation plans for certain executives and other highly compensated team members. Investments are generally maintained within a trust and include money market funds, mutual funds and life insurance policies. The cash surrender value of the life insurance policies is invested primarily in mutual funds. The investments are recorded at fair value based on quoted market prices and are included in Other Assets in the Consolidated Condensed Balance Sheets. We classify the investments which have observable market prices in active markets in Level 1 as these are generally publicly-traded mutual funds. The remaining deferred compensation assets are classified in Level 2, as fair value can be corroborated based on observable market data. Realized and unrealized gains (losses) on deferred compensation are included in earnings.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
In addition to assets and liabilities that are recorded at fair value on a recurring basis, we record assets and liabilities at fair value on a nonrecurring basis. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges and, with respect to our equity investments without readily determinable fair values, recorded by applying the measurement alternative for which such investments are recorded at cost and adjusted for an observable price change in an orderly transaction for an identical or similar investment of the same issuer.
During the nine months ended June 29, 2024, we recorded a fixed asset impairment charge of $28 million in Cost of Sales in the Consolidated Condensed Statements of Income as a result of our decision to sell our Netherlands facility. The charge was derived using Level 3 inputs and was driven by management's estimate of the potential proceeds from the disposal of the assets. We did not have any other significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition during the nine months ended June 29, 2024. In the third quarter of fiscal 2023, we recorded goodwill impairment charges of $210 million and $238 million in our Chicken segment and International/Other, respectively.
We had $247 million and $3 million of assets held for sale recorded within Other current assets in the Consolidated Condensed Balance Sheets at June 29, 2024 and September 30, 2023, respectively, primarily consisting of property, plant and equipment and goodwill.
Other Financial Instruments
Fair value of our debt is principally estimated using Level 2 inputs based on quoted prices for those or similar instruments. Fair value and carrying value for our debt are as follows (in millions):
June 29, 2024September 30, 2023
Fair ValueCarrying ValueFair ValueCarrying Value
Total debt$10,416 $11,021 $8,693 $9,506 
v3.24.2.u1
Segment Reporting
 9 Months Ended
Jun. 29, 2024
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, Thailand and the Kingdom of Saudi Arabia, 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 sales 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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Sales:
Beef$5,241 $4,956 $15,218 $14,296 
Pork1,462 1,324 4,465 4,274 
Chicken4,076 4,212 12,174 12,905 
Prepared Foods2,432 2,383 7,379 7,343 
International/Other582 633 1,744 1,879 
Intersegment(440)(368)(1,236)(1,164)
Total Sales$13,353 $13,140 $39,744 $39,533 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Operating Income (Loss):
Beef(a)
$(69)$66 $(310)$232 
Pork(b)
(62)(74)(24)(128)
Chicken(c)
244 (314)579 (503)
Prepared Foods203 206 676 705 
International/Other(d)
25 (234)(37)(238)
Total Operating Income (Loss)341 (350)884 68 
Total Other (Income) Expense88 76 267 190 
Income (Loss) before Income Taxes$253 $(426)$617 $(122)
(a) Beef segment results for the nine months ended June 29, 2024 included a $45 million legal contingency accrual and $41 million of costs related to plant closures recognized in Cost of Sales. Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.
(b) Pork segment results for the three and nine months ended June 29, 2024 included $39 million and $73 million, respectively, of costs related to plant closures, recognized in Cost of Sales. Additionally, Pork segment results for the three and nine months ended June 29, 2024 included $45 million and $73 million, respectively, related to the recognition of legal contingency accruals, of which the amount recognized in the third quarter of fiscal 2024 was a reduction to Sales and the remainder was recognized in Cost of Sales.
(c) Chicken segment results for the three and nine months ended June 29, 2024 included $2 million and $41 million, respectively, of costs related to plant closures and $5 million of production facility fire costs incurred, net of insurance proceeds, and $19 million of insurance proceeds, net of costs incurred, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended June 29, 2024 included a $56 million legal contingency accrual, recognized in Costs of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included production facility fire insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included a charge of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales, and $210 million of goodwill impairment.
(d) International/Other results for the three and nine months ended June 29, 2024 included $3 million and $83 million, respectively, of costs, net of insurance proceeds, related to a fire at our production facility in the Netherlands and subsequent decision to sell, recognized in Cost of Sales. International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.
The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,566 $1,318 $707 $541 $5,132 $109 $5,241 
Pork464 141 322 228 1,155 307 1,462 
Chicken1,720 1,567 256 509 4,052 24 4,076 
Prepared Foods1,434 876 58 64 2,432 — 2,432 
International/Other— — 582 — 582 — 582 
Intersegment— — — — — (440)(440)
Total$6,184 $3,902 $1,925 $1,342 $13,353 $— $13,353 
Three months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,313 $1,257 $671 $575 $4,816 $140 $4,956 
Pork394 125 294 305 1,118 206 1,324 
Chicken1,823 1,636 264 467 4,190 22 4,212 
Prepared Foods1,396 898 55 34 2,383 — 2,383 
International/Other— — 633 — 633 — 633 
Intersegment— — — — — (368)(368)
Total$5,926 $3,916 $1,917 $1,381 $13,140 $— $13,140 
Nine months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$7,330 $3,920 $2,001 $1,668 $14,919 $299 $15,218 
Pork1,374 379 1,050 797 3,600 865 4,465 
Chicken5,188 4,782 698 1,434 12,102 72 12,174 
Prepared Foods4,336 2,733 168 142 7,379 — 7,379 
International/Other— — 1,744 — 1,744 — 1,744 
Intersegment— — — — — (1,236)(1,236)
Total$18,228 $11,814 $5,661 $4,041 $39,744 $— $39,744 
Nine months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$6,581 $3,577 $1,978 $1,782 $13,918 $378 $14,296 
Pork1,268 356 926 994 3,544 730 4,274 
Chicken5,668 4,902 758 1,521 12,849 56 12,905 
Prepared Foods4,334 2,734 162 113 7,343 — 7,343 
International/Other— — 1,879 — 1,879 — 1,879 
Intersegment— — — — — (1,164)(1,164)
Total$17,851 $11,569 $5,703 $4,410 $39,533 $— $39,533 
(a) Includes external sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.
(b) Includes external sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.
(c) Includes external sales to international markets for internationally produced products or export sales of domestically produced products.
(d) Includes external sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories. For the three and nine months ended June 29, 2024, the Pork segment included a $45 million reduction in Other due to the recognition of a legal contingency accrual. For the three and nine months ended July 1, 2023, the Chicken segment included a $38 million reduction in Other due to the recognition of a legal contingency accrual.
v3.24.2.u1
Commitments And Contingencies
 9 Months Ended
Jun. 29, 2024
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 June 29, 2024, was not significant. The likelihood of material payments under these guarantees is not considered probable. At June 29, 2024 and September 30, 2023, 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 June 29, 2024 was approximately $280 million. The total receivables under these programs were $14 million and $12 million at June 29, 2024 and September 30, 2023, respectively. These receivables are included, net of allowance for uncollectible amounts, in Accounts Receivable in our Consolidated Condensed Balance Sheets.
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 June 29, 2024 and September 30, 2023. 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 June 29, 2024, the total amount under these types of arrangements totaled $802 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. The Company further determines whether a range of possible loss, if any, in excess of the recorded accrual 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.
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 the 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 attempt to do so in the future. The first trial in this matter, which involved claims brought by the Direct Purchaser Plaintiff Class and certain direct-action plaintiffs, began on September 12, 2023 and concluded with a jury verdict in favor of the defendant on October 25, 2023. The Company did not participate in the first trial because it had previously settled all of the claims brought by the plaintiffs that participated in that trial. The second scheduled trial in this matter, which was to involve claims brought by the Commercial and Institutional Indirect Purchaser Class, was scheduled to begin in March 2024, but it was cancelled because all claims brought by the Commercial and Institutional Indirect Purchaser Class were resolved before trial. The third scheduled trial in this matter, which will involve claims brought by the End-User Consumer Plaintiff Class, is currently scheduled to begin in September 2024. The Company will not participate in this trial because it has already settled all of the claims brought by the End-User Consumer Plaintiff Class.
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 Consumer 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 we have entered into have been in the best interests of the Company and its shareholders to avoid the uncertainty, risk, expense and distraction of protracted litigation.
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 a 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 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. On February 16, 2024, the Company and the State of Alaska filed a stipulation and proposed consent decree reflecting a settlement of the claims against the Company asserted by the Office of the Attorney General of Alaska. The court approved this settlement on April 24, 2024. On April 19, 2024, the Company and the State of New Mexico filed a proposed consent judgment reflecting a settlement of the claims against the Company asserted by the Office of the Attorney General of New Mexico. The Court approved this settlement on July 23, 2024. While the Company believes it has meritorious defenses to the claims that have been made, we believe that these settlements are in the best interests of the Company and its shareholders to avoid the uncertainty, risk, expense and distraction of protracted litigation. The Company recorded an accrual in the fourth quarter of fiscal 2023 for the estimated probable losses that it expects to incur for this matter.
As of June 29, 2024 and September 30, 2023, the legal contingency accrual for claims related to the Broiler Antitrust Civil Litigation matters described above was $92 million and $184 million, respectively. The decrease in the accrual is due to payments made during the first nine months of fiscal 2024. The Company does not believe that a range of possible loss, if any, in excess of the recorded accrual is reasonably estimable at this time.
Broiler Chicken Grower Investigation
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. The Company has not recorded any liability for this matter as it does not believe a loss is probable, nor does it believe that a range of possible loss, if any, is reasonably estimable at this time.
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 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.
In the third quarter of fiscal 2024, we filed and joined motions for summary judgment that, if successful, would dispose of all claims against us brought by all the plaintiffs in the Pork Antitrust Civil Litigation. While we believe we have strong summary judgment arguments, as well as other valid and meritorious defenses to the claims that have been made in the Pork Antitrust Civil Litigation and the related Attorney General matters, we are exploring the possibility of entering into settlements as a way to avoid the uncertainty, risk, expense and distraction of protracted litigation. We recorded a legal contingency accrual of $45 million in the third quarter of fiscal 2024 as a loss is now probable.
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, nor does it believe that a range of possible loss, if any, is 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, nor does it believe that a range of possible loss, if any, is 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, nor does it believe that a range of possible loss, if any, is 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 Specht 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. On February 3, 2023, we moved to dismiss the complaint, and the court granted the motion on August 17, 2023 but later permitted the plaintiffs to amend their complaint. On November 21, 2023, we moved to dismiss the amended complaint, and the court granted the motion on May 28, 2024. The plaintiffs have indicated that they will seek to amend the complaint again. The Company has not recorded any liability for this matter as it does not believe a loss is probable, nor does it believe that a range of possible loss, if any, is 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. The Company has not recorded any liability for this matter as it does not believe a loss is probable, nor does it believe that a range of possible loss, if any, is reasonably estimable at this time.
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 produced documents responsive to the subpoena.
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. On May 10, 2024 and June 3, 2024, the Company participated in mediation with the putative class plaintiffs. Following the mediation, on June 14, 2024, the Company reached an agreement in principle with the putative class plaintiffs to settle all claims in the case for an aggregate amount of $115.5 million. As a result, we recorded an increase to our legal contingency accrual of $56 million in the third quarter of fiscal 2024. This agreement in principle remains subject to court approval. While we believe we have valid and meritorious defenses against the allegations, we believe that the proposed settlement is in the best interests of the Company and its shareholders to avoid the uncertainty, risk, expense and distraction of protracted litigation. As of June 29, 2024 and September 30, 2023, the legal contingency accrual for claims related to this matter was $116 million and $60 million, respectively.
The DOJ’s Antitrust Division has opened a civil investigation into human resources at several poultry companies. We are cooperating with the investigation. The Company has not recorded any liability for this matter as it does not believe a loss is probable, nor does it believe that a range of possible loss, if any, is reasonably estimable at this time.
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. On February 17, 2023, we moved to dismiss the complaint, and on September 27, 2023, the court denied our motion.
On December 22, 2023, after a mediation between the parties, the Company and the putative class plaintiffs reached an in-principle agreement to settle. While we believe we have valid and meritorious defenses against the allegations, we believe that the proposed settlement is in the best interests of the Company and its shareholders to avoid the uncertainty, risk, expense and distraction of protracted litigation. Under the terms of the proposed settlement, the Company agreed to pay the putative class an aggregate amount of $72.5 million. The settlement agreement remains subject to court approval. If the court grants final approval to the settlement, it will completely resolve all claims made against the Company in this matter. In the first quarter of fiscal 2024, the Company recorded an accrual for the $72.5 million proposed settlement which remains accrued as of June 29, 2024.
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 $59 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 $254 million. However, the NLRC approved a prior settlement reached with the group comprising approximately 18% of the class of 5,984 complainants, pursuant to which The Hillshire Brands Company agreed to pay each settling complainant approximately $1,200. The parties filed numerous appeals, motions for reconsideration and petitions for review related to the NLRC award and settlement payment. The Court of Appeals subsequently vacated the NLRC’s award on April 12, 2018. Complainants have filed motions for reconsideration with the Court of Appeals which were denied. Claimants have since filed petitions for writ of certiorari with the Supreme Court of the Philippines, which has been accepted. The Company continues to maintain an accrual in an immaterial amount for estimated probable losses for this matter in the Company’s Consolidated Financial Statements. The Company does not believe that a range of possible loss, if any, in excess of the recorded accrual is reasonably estimable at this time.
Various claims have been asserted against the Company, its subsidiaries, and its officers and agents by, and on behalf of, team members who claim to have contracted COVID-19 in our facilities. The Company has not recorded any liability for these matters as it does not believe a loss is probable, nor does it believe that a range of possible loss, if any, is reasonably estimable at this time, because it believes the allegations in the claims are without merit and that the Company has valid and meritorious defenses against the allegations.
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Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Pay vs Performance Disclosure        
Net income (loss) attributable to Tyson $ 191 $ (417) $ 443 $ (198)
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Insider Trading Arrangements
 3 Months Ended
Jun. 29, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
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Accounting Policies (Policy)
 9 Months Ended
Jun. 29, 2024
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 September 30, 2023. 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 June 29, 2024 and the results of operations for the three and nine months ended June 29, 2024 and July 1, 2023. 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
New Regulation
On November 28, 2023, the United States Department of Agriculture published the Transparency in Poultry Grower Contracting and Tournaments rule that amended section 202(a) of the Packers and Stockyards Act to introduce new disclosure requirements that live poultry dealers must furnish to contract broiler growers. The rule was effective February 12, 2024, and directed live poultry dealers to amend broiler grower contracts to reflect certain new requirements. In compliance with the rule, we offered amendments to all our broiler growers which encompassed the new requirements, including but not limited to minimum number of flock placements and stocking density. As the amendments to certain contracts created fixed minimum payments associated with embedded leases, we have recognized as of June 29, 2024 a $72 million right-of-use asset and corresponding lease liability. These are reflected in the Consolidated Condensed Balance Sheets within Other Assets, Other current liabilities and Other Liabilities.
Recently Issued Accounting Pronouncements
In March 2024, the SEC issued a final rule that will require registrants to provide certain climate-related information in their registration statements and annual reports. The rule is effective for annual reporting periods beginning in 2025, our fiscal 2026, and will be applied prospectively. We are currently evaluating the impact this guidance will have on our consolidated financial statements.
In December 2023, the Financial Accounting Standards Board (the "FASB") issued authoritative guidance to enhance the transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The guidance is effective for annual reporting periods beginning after December 15, 2024, our fiscal 2026 and will be applied prospectively. We are currently evaluating the impact this guidance will have on disclosures in our consolidated financial statements.
In November 2023, the FASB issued authoritative guidance to improve the disclosures about a public entity's reportable segments and address requests from investors for additional, more detailed information about a reportable segment's expenses. The guidance is effective for annual reporting periods beginning after December 15, 2023, our fiscal 2025, and interim reporting periods within fiscal years beginning after December 15, 2024, our fiscal 2026. Amendments will be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact this guidance will have on disclosures in our consolidated financial statements.
In March 2023, the FASB issued authoritative guidance intended to address issues related to arrangements between entities under common control such as terms and conditions an entity should consider for determining whether a lease exists and the classification and accounting for that lease as well as accounting for leasehold improvements associated with leases between entities under common control. The guidance is effective for annual reporting periods and interim periods within those annual reporting periods beginning after December 15, 2023, our fiscal 2025 and can be applied using either the prospective or retrospective approach. We do not expect the adoption of this guidance will have a material impact on our consolidated financial statements.
In September 2022, 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 elected to early adopt the initial disclosure requirement for the fiscal year ended September 30, 2023, and it did not have a material impact on our consolidated financial statements.
Goodwill and Intangible Assets, Goodwill, Policy
Goodwill and Intangible Assets
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 macroeconomic 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.
Our qualitative assessment for the first three quarters of fiscal 2024 did not indicate that it was more likely than not the fair value of any of our reporting units or indefinite lived intangibles was less than the carrying amount, and as such, no quantitative test was deemed necessary. We consider reporting units and indefinite lived intangibles that have 20% or less excess fair value over carrying amount to have a heightened risk of impairment. The following reporting units and indefinite lived intangibles were considered at heightened risk of impairment as of the date of the most recent estimated fair value determination, which was in the fourth quarter of fiscal 2023: our Chicken segment reporting units, our Beef reporting unit and our Pork reporting unit with goodwill totaling $3.1 billion, $0.3 billion and $0.4 billion, respectively, and two Prepared Foods brands with carrying values of $0.5 billion and $0.3 billion.
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.
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Inventories (Policy)
 9 Months Ended
Jun. 29, 2024
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.
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Inventories (Tables)
 9 Months Ended
Jun. 29, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventory
The following table reflects the major components of inventory (in millions):
June 29, 2024September 30, 2023
Processed products$2,785 $2,847 
Livestock1,429 1,594 
Supplies and other819 887 
Total inventory$5,033 $5,328 
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Property, Plant And Equipment (Tables)
 9 Months Ended
Jun. 29, 2024
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): 
June 29, 2024September 30, 2023
Land$216 $219 
Buildings and leasehold improvements6,802 6,460 
Machinery and equipment11,215 10,680 
Land improvements and other585 559 
Buildings and equipment under construction894 1,782 
19,712 19,700 
Less accumulated depreciation10,344 10,066 
Net Property, Plant and Equipment$9,368 $9,634 
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Restructuring and Related Charges Restructuring and Related Charges (Tables)
 3 Months Ended 9 Months Ended 24 Months Ended
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Restructuring Cost and Reserve [Line Items]        
Total Pretax Anticipated Expenses of Restructuring Program   The following table reflects the total pretax anticipated expenses associated with the 2022 Program (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$25 $7 $22 $53 $18 $125 
Relocation and related costs22 7 3 21 — 53 
Accelerated depreciation5 2 — 12 — 19 
Contract and lease terminations— — — 21 — 21 
Professional and other fees2 1 — 4 — 7 
Total 2022 Program$54 $17 $25 $111 $18 $225 
    
Schedule of Restructuring Reserve by Type of Cost  
The following table reflects our liability related to the 2022 Program, which was recognized in Other current liabilities in our Consolidated Condensed Balance Sheet as of June 29, 2024 (in millions):
Balance at September 30, 2023Restructuring ExpensePaymentsChanges in EstimatesBalance at June 29, 2024
Severance costs$58 $6 $(51)$(2)$11 
Relocation and related costs5 8 (11)— 2 
Contract and lease termination— 9 (9)— — 
Professional and other fees2 — — (1)1 
Total$65 $23 $(71)$(3)$14 
    
Restructuring and Related Costs [Table Text Block]
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the third quarter of fiscal 2023 by reportable segment (in millions):
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 2024 by reportable segment (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherTotal
Severance costs$1 $— $2 $1 $— $4 
Relocation and related costs3 1 — 4 — 8 
Accelerated depreciation— — — — — — 
Contract and lease terminations— — — 19 — 19 
Professional and other fees— — — — — — 
Total$4 $1 $2 $24 $— $31 
The following table reflects the pretax impact of the 2022 Program’s restructuring and related charges during the first nine months of fiscal 2023 by reportable segment (in millions):
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$25 $7 $22 $53 $18 $125 
Relocation and related costs21 7 2 20 — 50 
Accelerated depreciation5 2 — 12 — 19 
Contract and lease terminations— — — 21 — 21 
Professional and other fees2 1 — 3 — 6 
Total$53 $17 $24 $109 $18 $221 
Schedule of Accrued Liabilities Related to Plant Closures  
The following table reflects our liability related to plant closures as of June 29, 2024 (in millions):
Balance at September 30, 2023Plant Closure ChargesPaymentsBalance at June 29, 2024
Contract termination$151 $13 $(64)$100 
Severance and retention14 9 (12)11 
Total$165 $22 $(76)$111 
    
v3.24.2.u1
Other Current Liabilities (Tables)
 9 Months Ended
Jun. 29, 2024
Other Liabilities, Current [Abstract]  
Schedule Of Other Current Liabilities
Other current liabilities are as follows (in millions):
June 29, 2024September 30, 2023
Accrued salaries, wages and benefits$826 $672 
Taxes payable149 156 
Accrued current legal contingencies351 289 
Other873 893 
Total other current liabilities$2,199 $2,010 
v3.24.2.u1
Debt (Tables)
 9 Months Ended
Jun. 29, 2024
Debt Instruments [Abstract]  
Schedule of Major Components Of Debt
The major components of debt are as follows (in millions):
June 29, 2024September 30, 2023
Revolving credit facility$— $— 
Commercial paper— 592 
Senior notes:
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 
5.40% Notes due March 2029 ("5.40% 2029 Notes")600 — 
6.13% Notes due November 2032158 158 
5.70% Notes due March 2034 ("5.70% 2034 Notes")900 — 
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)(36)
Term loans:
Term loan facility due May 2026 (6.49% at June 29, 2024)750 1,000 
Term loan facility due May 2028 (7.18% at June 29, 2024)750 — 
Other280 164 
Unamortized debt issuance costs(48)(40)
Total debt11,021 9,506 
Less current debt1,320 1,895 
Total long-term debt$9,701 $7,611 
v3.24.2.u1
Equity (Tables)
 9 Months Ended
Jun. 29, 2024
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
SharesDollarsSharesDollarsSharesDollarsSharesDollars
Shares repurchased:
Under share repurchase program— $— — $— — $— 4.7 $300 
To fund certain obligations under equity compensation plans0.2 13 0.2 11 0.8 44 0.7 43 
Total share repurchases0.2 $13 0.2 $11 0.8 $44 5.4 $343 
v3.24.2.u1
Earnings Per Share (Tables)
 9 Months Ended
Jun. 29, 2024
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Numerator:
Net income (loss)$196 $(435)$458 $(206)
Less: Net income (loss) attributable to noncontrolling interests5 (18)15 (8)
Net income (loss) attributable to Tyson191 (417)443 (198)
Less dividends declared:
Class A 140 137 423 416 
Class B 31 30 93 92 
Undistributed earnings (losses)$20 $(584)$(73)$(706)
Class A undistributed earnings (losses)$16 $(478)$(60)$(578)
Class B undistributed earnings (losses)4 (106)(13)(128)
Total undistributed earnings (losses)$20 $(584)$(73)$(706)
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares284 284 284 285 
Class B weighted average shares70 70 70 70 
Denominator for diluted earnings per share:
Class A weighted average shares284 284 284 285
Class B weighted average shares under the if-converted method for diluted earnings per share(a)
70 — 70 — 
Effect of dilutive securities: Stock options, restricted stock and performance units2 — 1 — 
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a)
356 284 355 285 
Net income (loss) per share attributable to Tyson:
Class A basic$0.55 $(1.18)$1.28 $(0.56)
Class B basic$0.49 $(1.08)$1.14 $(0.51)
Diluted(a)
$0.54 $(1.18)$1.25 $(0.56)
Dividends Declared Per Share:
Class A$0.490 $0.480 $1.480 $1.460 
Class B$0.441 $0.432 $1.332 $1.314 
v3.24.2.u1
Derivative Financial Instruments (Tables)
 9 Months Ended
Jun. 29, 2024
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Cost of SalesGain (Loss) on fair value hedges:
Commodity contracts (a) $2 $(5)$5 $(6)
Gain (Loss) on cash flow hedges reclassified from OCI to earnings:
Commodity contracts— — — — 
Gain (Loss) on derivatives not designated as hedging instruments:
Commodity contracts4 (84)(50)(92)
Total$6 $(89)$(45)$(98)
Interest ExpenseGain (Loss) on cash flow hedges reclassified from OCI to earnings:
Interest rate contracts$— $— $(1)$(1)
Other, netGain (Loss) on derivatives not designated as hedging instruments:
Foreign exchange contracts$(2)$(7)$(2)$3 
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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Cost of Sales$12,475 $12,463 $37,177 $37,361 
Interest Expense135 89 351 262 
Other, net(11)(7)(24)(50)
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 tonsMetricJune 29, 2024September 30, 2023
Commodity:
CornBushels60 65 
Soybean MealTons510,856 956,630 
Live CattlePounds92 319 
Lean HogsPounds188 454 
Foreign CurrencyUnited States dollar$274 $171 
Designated as Hedging Instrument [Member]  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block] The following table sets forth the pretax impact of cash flow hedge derivative instruments recognized in Other Comprehensive Income (in millions):
Three Months EndedNine Months Ended
Gain (Loss) Recognized in OCI on DerivativesJune 29, 2024July 1, 2023June 29, 2024July 1, 2023
Cash flow hedge - derivatives designated as hedging instruments:
Commodity contracts$(16)$— $(16)$— 
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 June 29, 2024 and September 30, 2023 (in millions):
Consolidated Condensed Balance Sheets ClassificationJune 29, 2024September 30, 2023
Inventory$(14)$16 
v3.24.2.u1
Fair Value Measurements (Tables)
 9 Months Ended
Jun. 29, 2024
Fair Value Disclosures [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions): 
June 29, 2024Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $17 $— $(11)$6 
Undesignated — 94 — (59)35 
Available-for-sale securities (current)— 13 — — 13 
Other Assets:
Available-for-sale securities (non-current)— 67 29 — 96 
Deferred compensation assets17 440 — — 457 
Total assets$17 $631 $29 $(70)$607 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $19 $— $(19)$— 
Undesignated — 105 — (90)15 
Total liabilities$— $124 $— $(109)$15 
September 30, 2023Level 1Level 2Level 3Netting (a)Total
Other Current Assets:
Derivative financial instruments:
Designated as hedges$— $7 $— $(2)$5 
Undesignated — 95 — (19)76 
Available-for-sale securities (current)— 15 — — 15 
Other Assets:
Available-for-sale securities (non-current)— 59 30 — 89 
Deferred compensation assets27 375 — — 402 
Total assets$27 $551 $30 $(21)$587 
Other Current Liabilities:
Derivative financial instruments:
Designated as hedges$— $27 $— $(27)$— 
Undesignated — 126 — (107)19 
Total liabilities$— $153 $— $(134)$19 
(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 June 29, 2024, and September 30, 2023, we had $39 million and $113 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
June 29, 2024July 1, 2023
Balance at beginning of year$30 $35 
Total realized and unrealized gains (losses):
Included in other comprehensive income (loss)1 1 
Purchases3 5 
Issuances— — 
Settlements(5)(10)
Balance at end of period$29 $31 
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):
June 29, 2024September 30, 2023
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$83 $80 $(3)$79 $74 $(5)
Corporate and asset-backed29 29 — 31 30 (1)
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):
June 29, 2024September 30, 2023
Fair ValueCarrying ValueFair ValueCarrying Value
Total debt$10,416 $11,021 $8,693 $9,506 
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):
June 29, 2024September 30, 2023
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$83 $80 $(3)$79 $74 $(5)
Corporate and asset-backed29 29 — 31 30 (1)
v3.24.2.u1
Segment Reporting (Tables)
 9 Months Ended
Jun. 29, 2024
Segment Reporting [Abstract]  
Segment Reporting Information, By Segment
Information on segments and a reconciliation to income before income taxes are as follows (in millions): 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Sales:
Beef$5,241 $4,956 $15,218 $14,296 
Pork1,462 1,324 4,465 4,274 
Chicken4,076 4,212 12,174 12,905 
Prepared Foods2,432 2,383 7,379 7,343 
International/Other582 633 1,744 1,879 
Intersegment(440)(368)(1,236)(1,164)
Total Sales$13,353 $13,140 $39,744 $39,533 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Operating Income (Loss):
Beef(a)
$(69)$66 $(310)$232 
Pork(b)
(62)(74)(24)(128)
Chicken(c)
244 (314)579 (503)
Prepared Foods203 206 676 705 
International/Other(d)
25 (234)(37)(238)
Total Operating Income (Loss)341 (350)884 68 
Total Other (Income) Expense88 76 267 190 
Income (Loss) before Income Taxes$253 $(426)$617 $(122)
(a) Beef segment results for the nine months ended June 29, 2024 included a $45 million legal contingency accrual and $41 million of costs related to plant closures recognized in Cost of Sales. Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.
(b) Pork segment results for the three and nine months ended June 29, 2024 included $39 million and $73 million, respectively, of costs related to plant closures, recognized in Cost of Sales. Additionally, Pork segment results for the three and nine months ended June 29, 2024 included $45 million and $73 million, respectively, related to the recognition of legal contingency accruals, of which the amount recognized in the third quarter of fiscal 2024 was a reduction to Sales and the remainder was recognized in Cost of Sales.
(c) Chicken segment results for the three and nine months ended June 29, 2024 included $2 million and $41 million, respectively, of costs related to plant closures and $5 million of production facility fire costs incurred, net of insurance proceeds, and $19 million of insurance proceeds, net of costs incurred, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended June 29, 2024 included a $56 million legal contingency accrual, recognized in Costs of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included production facility fire insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included a charge of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales, and $210 million of goodwill impairment.
(d) International/Other results for the three and nine months ended June 29, 2024 included $3 million and $83 million, respectively, of costs, net of insurance proceeds, related to a fire at our production facility in the Netherlands and subsequent decision to sell, recognized in Cost of Sales. International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.
Disaggregation of Revenue, By Segment and Distribution Channel
The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,566 $1,318 $707 $541 $5,132 $109 $5,241 
Pork464 141 322 228 1,155 307 1,462 
Chicken1,720 1,567 256 509 4,052 24 4,076 
Prepared Foods1,434 876 58 64 2,432 — 2,432 
International/Other— — 582 — 582 — 582 
Intersegment— — — — — (440)(440)
Total$6,184 $3,902 $1,925 $1,342 $13,353 $— $13,353 
Three months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,313 $1,257 $671 $575 $4,816 $140 $4,956 
Pork394 125 294 305 1,118 206 1,324 
Chicken1,823 1,636 264 467 4,190 22 4,212 
Prepared Foods1,396 898 55 34 2,383 — 2,383 
International/Other— — 633 — 633 — 633 
Intersegment— — — — — (368)(368)
Total$5,926 $3,916 $1,917 $1,381 $13,140 $— $13,140 
Nine months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$7,330 $3,920 $2,001 $1,668 $14,919 $299 $15,218 
Pork1,374 379 1,050 797 3,600 865 4,465 
Chicken5,188 4,782 698 1,434 12,102 72 12,174 
Prepared Foods4,336 2,733 168 142 7,379 — 7,379 
International/Other— — 1,744 — 1,744 — 1,744 
Intersegment— — — — — (1,236)(1,236)
Total$18,228 $11,814 $5,661 $4,041 $39,744 $— $39,744 
Nine months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$6,581 $3,577 $1,978 $1,782 $13,918 $378 $14,296 
Pork1,268 356 926 994 3,544 730 4,274 
Chicken5,668 4,902 758 1,521 12,849 56 12,905 
Prepared Foods4,334 2,734 162 113 7,343 — 7,343 
International/Other— — 1,879 — 1,879 — 1,879 
Intersegment— — — — — (1,164)(1,164)
Total$17,851 $11,569 $5,703 $4,410 $39,533 $— $39,533 
(a) Includes external sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.
(b) Includes external sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.
(c) Includes external sales to international markets for internationally produced products or export sales of domestically produced products.
(d) Includes external sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories. For the three and nine months ended June 29, 2024, the Pork segment included a $45 million reduction in Other due to the recognition of a legal contingency accrual. For the three and nine months ended July 1, 2023, the Chicken segment included a $38 million reduction in Other due to the recognition of a legal contingency accrual.
v3.24.2.u1
Accounting Policies Changes in Accounting Principles (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Dec. 31, 2022
Jun. 29, 2024
Jul. 01, 2023
Sep. 30, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Selling, General and Administrative $ 537 $ 579   $ 1,683 $ 1,656  
Operating Income (Loss) 341 (350)   884 68  
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 253 (426)   617 (122)  
Income Tax Expense 57 9   159 84  
Net Income (Loss) 196 (435)   458 (206)  
Net income (loss) attributable to Tyson $ 191 $ (417)   $ 443 $ (198)  
Diluted (USD per share) $ 0.54 $ (1.18)   $ 1.25 $ (0.56)  
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest $ 152 $ (470)   $ 423 $ (138)  
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 148 (452)   408 (130)  
Inventory, Net 5,033     5,033   $ 5,328
Assets, Current 10,572     10,572   8,722
Assets 37,732     37,732   36,251
Deferred Income Taxes 2,318     2,318   2,308
Retained earnings (18,687)     (18,687)   (18,760)
Total Tyson Shareholders’ Equity 18,076     18,076   18,133
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 18,202 18,910   18,202 18,910 18,255
Liabilities and Equity 37,732     37,732   $ 36,251
Deferred income taxes       6 (54)  
Increase (Decrease) in Operating Capital       265 98  
Restricted Cash 0 0   0 0  
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount           20.00%
Revision of Estimate     $ 30      
Goodwill, Impairment Loss 0 448   0 $ 448  
Goodwill 9,801     $ 9,801   $ 9,878
Indefinite-Lived Intangibles, Percentage of Fair Value in Excess of Carrying Amount           20.00%
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 72          
Increase (Decrease) in Operating Lease Liability $ 72          
Chicken Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill, Impairment Loss   210        
Goodwill           $ 3,100
International Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill, Impairment Loss   $ 238        
Beef Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill           300
Pork Reporting Unit            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Goodwill           400
Prepared Foods Brand 1            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Indefinite-Lived Intangibles, Gross           500
Prepared Foods Member 2            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Indefinite-Lived Intangibles, Gross           $ 300
Class A [Member]            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Basic (USD per share) $ 0.55 $ (1.18)   $ 1.28 $ (0.56)  
Class B [Member]            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Basic (USD per share) $ 0.49 $ (1.08)   $ 1.14 $ (0.51)  
v3.24.2.u1
Acquisitions and Dispositions (Details) - USD ($)
$ in Millions
 9 Months Ended
May 22, 2023
Nov. 01, 2022
Jun. 29, 2024
Jul. 01, 2023
Sep. 30, 2023
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]          
Payments to Acquire Equity Method Investments     $ 28 $ 50  
Business Acquisition [Line Items]          
Payments to Acquire Equity Method Investments     28 50  
Payments to Acquire Businesses, Net of Cash Acquired   $ 75 0 $ 262  
Goodwill     $ 9,801   $ 9,878
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 $ 220        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net Working Capital 15        
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 107        
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 $ 31        
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%      
Williams Sausage Company          
Business Acquisition [Line Items]          
Business Acquisition, Goodwill, Expected Tax Deductible Amount $ 50        
v3.24.2.u1
Dispositions (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Cost of Sales        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Business Exit Costs $ 41 $ 15 $ 155 $ 107
v3.24.2.u1
Inventories (Schedule Of Inventory) (Details) - USD ($)
$ in Millions
Jun. 29, 2024
Sep. 30, 2023
Inventory Disclosure [Abstract]    
Processed products $ 2,785 $ 2,847
Livestock 1,429 1,594
Supplies and other 819 887
Total inventory 5,033 5,328
Inventory [Line Items]    
Inventory Valuation Reserves $ 139 $ 145
v3.24.2.u1
Property, Plant And Equipment (Details) - USD ($)
$ in Millions
Jun. 29, 2024
Sep. 30, 2023
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 19,712 $ 19,700
Less accumulated depreciation 10,344 10,066
Net Property, Plant and Equipment 9,368 9,634
Land    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 216 219
Buildings and leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 6,802 6,460
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 11,215 10,680
Land improvements and other    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 585 559
Buildings and equipment under construction    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 894 $ 1,782
v3.24.2.u1
Restructuring and Related Charges Restructuring (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]          
Business Exit Liability $ 111   $ 111   $ 165
Plant Closure Payment     (76)    
Plant Closure Charges     $ 22    
Share-based Payment Arrangement [Member]          
Restructuring Cost and Reserve [Line Items]          
Antidilutive securities excluded from computation of earnings per share, shares 5 9 7 9  
Plant Closure and Related Cost, Cash Outflows          
Restructuring Cost and Reserve [Line Items]          
Business Exit Costs     $ 12 $ 83  
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds     30    
Plant Closures and Related Cost, Non-Cash Charges          
Restructuring Cost and Reserve [Line Items]          
Business Exit Costs     143 24  
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds     58    
Plant Closures and Related Cost, Insurance Proceeds          
Restructuring Cost and Reserve [Line Items]          
Unusual or Infrequent Item, or Both, Insurance Proceeds     5    
2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   $ 50 31 93  
Restructuring Reserve $ 14   14   65
Payments for Restructuring     (71)    
Restructuring and Related Cost, Expected Cost 225   225    
Restructuring Charges     23    
Restructuring and Related Cost, Cost Incurred to Date 221   221    
Restructuring Reserve, Accrual Adjustment     (3)    
2022 Program | Restructuring and Related Cost, Cash Outflows          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost     21 80  
Restructuring and Related Cost, Cost Incurred to Date 195   195    
2022 Program | Restructuring and Related Cost, Non-Cash Charges          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost     10 13  
Restructuring and Related Cost, Cost Incurred to Date 26   26    
2022 Program | Effect on Future Earnings, Cash Charges          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Expected Cost 199   199    
2022 Program | Effect on Future Earnings, Non-Cash Charges          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Expected Cost 26   26    
Cost of Sales          
Restructuring Cost and Reserve [Line Items]          
Business Exit Costs 41 15 155 107  
Cost of Sales | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost 0 19   23  
Restructuring and Related Cost, Expected Cost 48   48    
Restructuring and Related Cost, Cost Incurred to Date 47   47    
Selling, General and Administrative Expenses [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost 0 31 31 70  
Restructuring and Related Cost, Expected Cost 177   177    
Restructuring and Related Cost, Cost Incurred to Date 174   174    
Employee Severance [Member]          
Restructuring Cost and Reserve [Line Items]          
Business Exit Liability 11   11   14
Plant Closure Payment     (12)    
Plant Closure Charges     9    
Employee Severance [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   28 4 42  
Restructuring Reserve 11   11   58
Payments for Restructuring     (51)    
Restructuring and Related Cost, Expected Cost 125   125    
Restructuring Charges     6    
Restructuring and Related Cost, Cost Incurred to Date 125   125    
Restructuring Reserve, Accrual Adjustment     (2)    
Employee Relocation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   16 8 33  
Restructuring Reserve 2   2   5
Payments for Restructuring     (11)    
Restructuring and Related Cost, Expected Cost 53   53    
Restructuring Charges     8    
Restructuring and Related Cost, Cost Incurred to Date 50   50    
Restructuring Reserve, Accrual Adjustment     0    
Accelerated Depreciation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   4 0 14  
Restructuring and Related Cost, Expected Cost 19   19    
Restructuring and Related Cost, Cost Incurred to Date 19   19    
Contract Termination          
Restructuring Cost and Reserve [Line Items]          
Business Exit Liability 100   100   151
Plant Closure Payment     (64)    
Plant Closure Charges     13    
Contract Termination | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   1 19 (1)  
Restructuring Reserve 0   0   0
Payments for Restructuring     (9)    
Restructuring and Related Cost, Expected Cost 21   21    
Restructuring Charges     9    
Restructuring and Related Cost, Cost Incurred to Date 21   21    
Restructuring Reserve, Accrual Adjustment     0    
Other Restructuring [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   1 0 5  
Restructuring Reserve 1   1   $ 2
Payments for Restructuring     0    
Restructuring and Related Cost, Expected Cost 7   7    
Restructuring Charges     0    
Restructuring and Related Cost, Cost Incurred to Date 6   6    
Restructuring Reserve, Accrual Adjustment     (1)    
Beef [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   13 4 26  
Restructuring and Related Cost, Expected Cost 54   54    
Restructuring and Related Cost, Cost Incurred to Date 53   53    
Beef [Member] | Cost of Sales          
Restructuring Cost and Reserve [Line Items]          
Business Exit Costs     41    
Unusual or Infrequent Item, or Both, Insurance Proceeds       42  
Beef [Member] | Employee Severance [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   4 1 6  
Restructuring and Related Cost, Expected Cost 25   25    
Restructuring and Related Cost, Cost Incurred to Date 25   25    
Beef [Member] | Employee Relocation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   7 3 14  
Restructuring and Related Cost, Expected Cost 22   22    
Restructuring and Related Cost, Cost Incurred to Date 21   21    
Beef [Member] | Accelerated Depreciation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   1 0 4  
Restructuring and Related Cost, Expected Cost 5   5    
Restructuring and Related Cost, Cost Incurred to Date 5   5    
Beef [Member] | Contract Termination | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   0 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 0 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 1 8  
Restructuring and Related Cost, Expected Cost 17   17    
Restructuring and Related Cost, Cost Incurred to Date 17   17    
Pork [Member] | Cost of Sales          
Restructuring Cost and Reserve [Line Items]          
Business Exit Costs 39   73    
Pork [Member] | Employee Severance [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   1 0 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 1 5  
Restructuring and Related Cost, Expected Cost 7   7    
Restructuring and Related Cost, Cost Incurred to Date 7   7    
Pork [Member] | Accelerated Depreciation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   0 0 1  
Restructuring and Related Cost, Expected Cost 2   2    
Restructuring and Related Cost, Cost Incurred to Date 2   2    
Pork [Member] | Contract Termination | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   0 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 0  
Restructuring and Related Cost, Expected Cost 1   1    
Restructuring and Related Cost, Cost Incurred to Date 1   1    
Chicken [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   10 2 11  
Restructuring and Related Cost, Expected Cost 25   25    
Restructuring and Related Cost, Cost Incurred to Date 24   24    
Chicken [Member] | Cost of Sales          
Restructuring Cost and Reserve [Line Items]          
Business Exit Costs 2 15 41 107  
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 5 22   15  
Unusual or Infrequent Item, or Both, Insurance Proceeds     19    
Chicken [Member] | Employee Severance [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   10 2 9  
Restructuring and Related Cost, Expected Cost 22   22    
Restructuring and Related Cost, Cost Incurred to Date 22   22    
Chicken [Member] | Employee Relocation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   0 0 2  
Restructuring and Related Cost, Expected Cost 3   3    
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 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 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 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 24 33  
Restructuring and Related Cost, Expected Cost 111   111    
Restructuring and Related Cost, Cost Incurred to Date 109   109    
Prepared Foods [Member] | Employee Severance [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   4 1 10  
Restructuring and Related Cost, Expected Cost 53   53    
Restructuring and Related Cost, Cost Incurred to Date 53   53    
Prepared Foods [Member] | Employee Relocation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   6 4 12  
Restructuring and Related Cost, Expected Cost 21   21    
Restructuring and Related Cost, Cost Incurred to Date 20   20    
Prepared Foods [Member] | Accelerated Depreciation | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   3 0 9  
Restructuring and Related Cost, Expected Cost 12   12    
Restructuring and Related Cost, Cost Incurred to Date 12   12    
Prepared Foods [Member] | Contract Termination | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   1 19 (1)  
Restructuring and Related Cost, Expected Cost 21   21    
Restructuring and Related Cost, Cost Incurred to Date 21   21    
Prepared Foods [Member] | Other Restructuring [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   0 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 0 15  
Restructuring and Related Cost, Expected Cost 18   18    
Restructuring and Related Cost, Cost Incurred to Date 18   18    
Corporate and Other [Member] | Cost of Sales          
Restructuring Cost and Reserve [Line Items]          
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 3   83    
Corporate and Other [Member] | Employee Severance [Member] | 2022 Program          
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Cost, Incurred Cost   9 0 15  
Restructuring and Related Cost, Expected Cost 18   18    
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 0  
Restructuring and Related Cost, Expected Cost 0   0    
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 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 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 $ 0  
Restructuring and Related Cost, Expected Cost 0   0    
Restructuring and Related Cost, Cost Incurred to Date $ 0   $ 0    
v3.24.2.u1
Other Current Liabilities (Schedule of Other Current Liabilities) (Details) - USD ($)
$ in Millions
Jun. 29, 2024
Sep. 30, 2023
Other Liabilities, Current [Abstract]    
Accrued salaries, wages and benefits $ 826 $ 672
Taxes Payable 149 156
Loss Contingency Accrual 351 289
Other 873 893
Other current liabilities $ 2,199 $ 2,010
v3.24.2.u1
Debt (Major Components Of Debt) (Details) - USD ($)
 9 Months Ended
Jun. 29, 2024
Mar. 08, 2024
Sep. 30, 2023
Debt Instrument [Line Items]      
Document Period End Date Jun. 29, 2024    
Discount on senior notes $ (37,000,000)   $ (36,000,000)
Other 280,000,000   164,000,000
Unamortized debt issuance costs (48,000,000)   (40,000,000)
Total debt 11,021,000,000   9,506,000,000
Less current debt 1,320,000,000   1,895,000,000
Less current debt 9,701,000,000   7,611,000,000
Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Revolving credit facility 0   0
Commercial paper      
Debt Instrument [Line Items]      
Commercial paper $ 0   592,000,000
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   158,000,000
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 6.49%    
Long-term Debt, Gross $ 750,000,000   1,000,000,000
Term Loan Facility Due May 2028      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 7.18%    
Long-term Debt, Gross $ 750,000,000   0
Five Point Four Zero Percentage Senior Notes Due March, Two Thousand and Twenty Nine      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.40%    
Long-term Debt, Gross $ 600,000,000 $ 600,000,000 0
Five Point Seven Zero Percentage Senior Unsecured Notes Due March, Two Thousand and Thirty Four      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.70%    
Long-term Debt, Gross $ 900,000,000 $ 900,000,000 $ 0
v3.24.2.u1
Debt (Narrative) (Details) - USD ($)
 9 Months Ended
Mar. 08, 2024
Nov. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Sep. 30, 2023
May 03, 2023
Debt Instrument [Line Items]            
Document Period End Date     Jun. 29, 2024      
Repayments of Commercial Paper     $ 2,240,000,000 $ 7,015,000,000    
Debt Instrument, Unamortized Discount     37,000,000   $ 36,000,000  
Term Loan Facility Due May 2025            
Debt Instrument [Line Items]            
Debt Instrument, Unused Borrowing Capacity, Amount           $ 750,000,000
Long-term Debt, Gross     $ 750,000,000   1,000,000,000  
Debt Instrument, Interest Rate, Stated Percentage     6.49%      
Extinguishment of Debt, Amount $ 250,000,000          
Term Loan Facility Due May 2028            
Debt Instrument [Line Items]            
Debt Instrument, Unused Borrowing Capacity, Amount   $ 750,000,000       $ 750,000,000
Long-term Debt, Gross     $ 750,000,000   0  
Debt Instrument, Interest Rate, Stated Percentage     7.18%      
5.40 Senior Unsecured Notes due March 2029 and 5.70 Senior Unsecured Notes Due March 2034 [Domain]            
Debt Instrument [Line Items]            
Debt Instrument, Unamortized Discount 3,000,000          
Long-Term Debt 1,500,000,000          
Debt Issuance Costs, Gross 14,000,000          
5.40 Senior Unsecured Notes due March 2029 and 5.70 Senior Unsecured Notes Due March 2034 [Domain] | Senior Unsecured Notes            
Debt Instrument [Line Items]            
Proceeds from Issuance of Long-Term Debt     $ 1,497,000,000      
Five Point Four Zero Percentage Senior Notes Due March, Two Thousand and Twenty Nine            
Debt Instrument [Line Items]            
Long-term Debt, Gross 600,000,000   $ 600,000,000   0  
Debt Instrument, Interest Rate, Stated Percentage     5.40%      
Five Point Seven Zero Percentage Senior Unsecured Notes Due March, Two Thousand and Thirty Four            
Debt Instrument [Line Items]            
Long-term Debt, Gross $ 900,000,000   $ 900,000,000   0  
Debt Instrument, Interest Rate, Stated Percentage     5.70%      
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     87,000,000      
Commercial paper            
Debt Instrument [Line Items]            
Maximum borrowing capacity     1,500,000,000      
Commercial paper     $ 0   $ 592,000,000  
Repayments of Commercial Paper   $ 592,000,000        
v3.24.2.u1
Equity (Schedule of Share Repurchases) (Details) - Class A [Member] - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Class of Stock [Line Items]        
Treasury Stock, Shares, Acquired 0.2 0.2 0.8 5.4
Payments for Repurchase of Common Stock $ 13 $ 11 $ 44 $ 343
Under share repurchase program        
Class of Stock [Line Items]        
Treasury Stock, Shares, Acquired 0.0 0.0 0.0 4.7
Payments for Repurchase of Common Stock $ 0 $ 0 $ 0 $ 300
To fund certain obligations under equity compensation plans        
Class of Stock [Line Items]        
Treasury Stock, Shares, Acquired 0.2 0.2 0.8 0.7
Payments for Repurchase of Common Stock $ 13 $ 11 $ 44 $ 43
v3.24.2.u1
Equity (Narrative) (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Share-based Payment Arrangement [Member]        
Class of Stock [Line Items]        
Antidilutive securities excluded from computation of earnings per share, shares 5.0 9.0 7.0 9.0
Class A [Member]        
Class of Stock [Line Items]        
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased 7.3   7.3  
v3.24.2.u1
Income Taxes (Details)
$ in Millions, $ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2021
MXN ($)
Jun. 29, 2024
USD ($)
Jul. 01, 2023
USD ($)
Jun. 29, 2024
USD ($)
Jul. 01, 2023
USD ($)
Sep. 30, 2023
USD ($)
Income Tax Disclosure [Abstract]              
Effective tax rate for continuing operations     22.90% (1.80%) 25.90% (67.90%)  
Unrecognized tax benefits     $ 136   $ 136   $ 131
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount     $ 9        
Income Tax Examination [Line Items]              
Effective Income Tax Rate Reconciliation, Percent     22.90% (1.80%) 25.90% (67.90%)  
Goodwill, Impairment Loss     $ 0 $ 448 $ 0 $ 448  
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount     $ 9        
Mexican Tax Authority | Tax Year 2015              
Income Tax Disclosure [Abstract]              
Income Tax Examination, Estimate of Possible Loss $ 481 $ 8,800          
Income Tax Examination [Line Items]              
Income Tax Examination, Estimate of Possible Loss $ 481 $ 8,800          
v3.24.2.u1
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
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Earnings Per Share, Basic and Diluted [Line Items]        
Net Income (Loss) $ 196 $ (435) $ 458 $ (206)
Less: Net Income (Loss) Attributable to Noncontrolling Interests 5 (18) 15 (8)
Net income (loss) attributable to Tyson 191 (417) 443 (198)
Undistributed earnings (losses) $ 20 $ (584) $ (73) $ (706)
Effect of dilutive securities: Stock options, restricted stock and performance units 2 0 1 0
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a) 356 284 355 285
Diluted(a) $ 0.54 $ (1.18) $ 1.25 $ (0.56)
Share-based Payment Arrangement [Member]        
Earnings Per Share, Basic and Diluted [Line Items]        
Antidilutive securities excluded from computation of earnings per share, shares 5 9 7 9
Class A [Member]        
Earnings Per Share, Basic and Diluted [Line Items]        
Less dividends declared: $ 140 $ 137 $ 423 $ 416
Undistributed earnings (losses) $ 16 $ (478) $ (60) $ (578)
Weighted average number of shares outstanding - Basic 284 284 284 285
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a) 284 284 284 285
Net Income Per Share Attributable to Tyson - Basic $ 0.55 $ (1.18) $ 1.28 $ (0.56)
Common Stock, Dividends, Per Share, Declared $ 0.490 $ 0.480 $ 1.480 $ 1.460
Class B [Member]        
Earnings Per Share, Basic and Diluted [Line Items]        
Less dividends declared: $ 31 $ 30 $ 93 $ 92
Undistributed earnings (losses) $ 4 $ (106) $ (13) $ (128)
Weighted average number of shares outstanding - Basic 70 70 70 70
Denominator for diluted earnings (loss) per share – weighted average shares and assumed conversions(a) 70 0 70 0
Net Income Per Share Attributable to Tyson - Basic $ 0.49 $ (1.08) $ 1.14 $ (0.51)
Common Stock, Dividends, Per Share, Declared $ 0.441 $ 0.432 $ 1.332 $ 1.314
v3.24.2.u1
Earnings Per Share (Narrative) (Details)
shares in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
shares
Jul. 01, 2023
shares
Jun. 29, 2024
Classes
shares
Jul. 01, 2023
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 5 9 7 9
v3.24.2.u1
Derivative Financial Instruments (Aggregate Outstanding Notionals) (Details)
lb in Millions, bu in Millions, $ in Millions
Jun. 29, 2024
USD ($)
lb
T
bu
Sep. 30, 2023
USD ($)
lb
T
bu
Corn (in bushels)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount | bu 60 65
Soy Meal (in tons)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount | T 510,856 956,630
Live Cattle (in pounds)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount 92 319
Lean Hogs (in pounds)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount 188 454
Foreign Currency [Member]    
Derivative [Line Items]    
Derivative, Notional Amount | $ $ 274 $ 171
v3.24.2.u1
Derivative Financial Instruments (Pretax Impact Of Cash Flow Hedge Derivative Instruments On The Consolidated Statements Of Income) (Details)
$ in Millions
 9 Months Ended
Jun. 29, 2024
USD ($)
Commodity contracts  
Derivative [Line Items]  
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months $ 16
v3.24.2.u1
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
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Sep. 30, 2023
Derivative [Line Items]          
Derivative, Gain (Loss) on Derivative, Net $ 6 $ (89) $ (45) $ (98)  
Fair Value Hedging [Member]          
Derivative [Line Items]          
Derivative Assets (Liabilities), at Fair Value, Net $ (14)   $ (14)   $ 16
v3.24.2.u1
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
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ 6 $ (89) $ (45) $ (98)
Cost of Sales 12,475 12,463 37,177 37,361
Other Nonoperating Income (Expense) $ (11) $ (7) $ (24) $ (50)
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 $ 4 $ (84) $ (50) $ (92)
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 $ (2) $ (7) $ (2) $ 3
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)
Designated as Hedging Instrument [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
Fair Value Hedging [Member] | Commodity contracts        
Derivative [Line Items]        
Derivative, Gain (Loss) on Derivative, Net $ 2 $ (5) $ 5 $ (6)
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, Nonoperating Interest Expense, Nonoperating Interest Expense, Nonoperating Interest Expense, Nonoperating
v3.24.2.u1
Derivative Financial Instruments (Narrative) (Details)
$ in Millions
Jun. 29, 2024
USD ($)
Treasury Rate Locks  
Derivative [Line Items]  
Cash Flow Hedge Gain (Loss) to be Reclassified Over Life of Forecasted Fixed-Rate Debt $ (11)
v3.24.2.u1
Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($)
$ in Millions
Jun. 29, 2024
Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liability, Collateral, Right to Reclaim Cash, Offset $ 39 $ 113
Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Netting (70) (21)
Total assets 607 587
Derivative Liability, Netting (109) (134)
Total liabilities 15 19
Fair Value, Recurring [Member] | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets 17 27
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 631 551
Total liabilities 124 153
Fair Value, Recurring [Member] | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets 29 30
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 13 15
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 (11) (2)
Derivative Asset, Subject to Master Netting Arrangement, after Offset 6 5
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 (59) (19)
Derivative Asset, Subject to Master Netting Arrangement, after Offset 35 76
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 13 15
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 17 7
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 94 95
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 457 402
Debt Securities, Available-for-Sale, Noncurrent 96 89
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 17 27
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 440 375
Debt Securities, Available-for-Sale, Noncurrent 67 59
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 29 30
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 (19) (27)
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 15 19
Derivative Liability, Netting (90) (107)
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 19 27
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 105 126
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
v3.24.2.u1
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
Jun. 29, 2024
Jul. 01, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of year $ 30 $ 35
Total unrealized gains (losses) included in other comprehensive income (loss) 1 1
Purchases 3 5
Issuances 0 0
Settlements (5) (10)
Balance at end of period 29 31
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) $ 0 $ 0
v3.24.2.u1
Fair Value Measurements (Schedule Of Available For Sale Securities) (Details) - USD ($)
$ in Millions
 9 Months Ended
Jun. 29, 2024
Sep. 30, 2023
Maximum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available For Sale Securities Debt Maturity Period 45 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 $ 13 $ 15
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 13 15
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 96 89
Other Assets [Member] | Level 1 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Noncurrent 0 0
Other Assets [Member] | Level 2 | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-Sale, Noncurrent 67 59
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 29 30
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 (3) (5)
Debt Securities, Available-for-sale 80 74
Debt Securities, Available-for-sale, Amortized Cost 83 79
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 0 (1)
Debt Securities, Available-for-sale 29 30
Debt Securities, Available-for-sale, Amortized Cost $ 29 $ 31
v3.24.2.u1
Fair Value Measurements (Schedule Of Fair Value And Carrying Value Of Debt) (Details) - USD ($)
$ in Millions
Jun. 29, 2024
Sep. 30, 2023
Fair Value Disclosures [Abstract]    
Total Debt, Fair Value $ 10,416 $ 8,693
Total Debt, Carrying Value $ 11,021 $ 9,506
v3.24.2.u1
Fair Value Measurement (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, Impairment Loss $ 0 $ 448 $ 0 $ 448  
Asset, Held-for-Sale, Not Part of Disposal Group, Other, Current $ 247   $ 247   $ 3
Chicken Reporting Unit          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, Impairment Loss   210      
International Reporting Unit          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, Impairment Loss   238      
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     45 years    
Corporate and Other [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill, Impairment Loss   $ 238   $ 238  
Corporate and Other [Member] | Cost of Sales          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Asset Impairment Charges     $ 28    
v3.24.2.u1
Segment Reporting (Segment Reporting Information, By Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Sep. 30, 2023
Segment Reporting Information [Line Items]          
Sales $ 13,353 $ 13,140 $ 39,744 $ 39,533  
Operating Income (Loss) 341 (350) 884 68  
Total Other (Income) Expense 88 76 267 190  
Income before income taxes 253 (426) 617 (122)  
Loss Contingency Accrual 351   351   $ 289
Goodwill, Impairment Loss 0 448 $ 0 448  
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds [Abstract]          
Segment Reporting Information, By Segment    
Information on segments and a reconciliation to income before income taxes are as follows (in millions): 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Sales:
Beef$5,241 $4,956 $15,218 $14,296 
Pork1,462 1,324 4,465 4,274 
Chicken4,076 4,212 12,174 12,905 
Prepared Foods2,432 2,383 7,379 7,343 
International/Other582 633 1,744 1,879 
Intersegment(440)(368)(1,236)(1,164)
Total Sales$13,353 $13,140 $39,744 $39,533 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Operating Income (Loss):
Beef(a)
$(69)$66 $(310)$232 
Pork(b)
(62)(74)(24)(128)
Chicken(c)
244 (314)579 (503)
Prepared Foods203 206 676 705 
International/Other(d)
25 (234)(37)(238)
Total Operating Income (Loss)341 (350)884 68 
Total Other (Income) Expense88 76 267 190 
Income (Loss) before Income Taxes$253 $(426)$617 $(122)
(a) Beef segment results for the nine months ended June 29, 2024 included a $45 million legal contingency accrual and $41 million of costs related to plant closures recognized in Cost of Sales. Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.
(b) Pork segment results for the three and nine months ended June 29, 2024 included $39 million and $73 million, respectively, of costs related to plant closures, recognized in Cost of Sales. Additionally, Pork segment results for the three and nine months ended June 29, 2024 included $45 million and $73 million, respectively, related to the recognition of legal contingency accruals, of which the amount recognized in the third quarter of fiscal 2024 was a reduction to Sales and the remainder was recognized in Cost of Sales.
(c) Chicken segment results for the three and nine months ended June 29, 2024 included $2 million and $41 million, respectively, of costs related to plant closures and $5 million of production facility fire costs incurred, net of insurance proceeds, and $19 million of insurance proceeds, net of costs incurred, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended June 29, 2024 included a $56 million legal contingency accrual, recognized in Costs of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included production facility fire insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included a charge of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales, and $210 million of goodwill impairment.
(d) International/Other results for the three and nine months ended June 29, 2024 included $3 million and $83 million, respectively, of costs, net of insurance proceeds, related to a fire at our production facility in the Netherlands and subsequent decision to sell, recognized in Cost of Sales. International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.
    
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, Thailand and the Kingdom of Saudi Arabia, 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 sales 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
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Sales:
Beef$5,241 $4,956 $15,218 $14,296 
Pork1,462 1,324 4,465 4,274 
Chicken4,076 4,212 12,174 12,905 
Prepared Foods2,432 2,383 7,379 7,343 
International/Other582 633 1,744 1,879 
Intersegment(440)(368)(1,236)(1,164)
Total Sales$13,353 $13,140 $39,744 $39,533 
Three Months EndedNine Months Ended
June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Operating Income (Loss):
Beef(a)
$(69)$66 $(310)$232 
Pork(b)
(62)(74)(24)(128)
Chicken(c)
244 (314)579 (503)
Prepared Foods203 206 676 705 
International/Other(d)
25 (234)(37)(238)
Total Operating Income (Loss)341 (350)884 68 
Total Other (Income) Expense88 76 267 190 
Income (Loss) before Income Taxes$253 $(426)$617 $(122)
(a) Beef segment results for the nine months ended June 29, 2024 included a $45 million legal contingency accrual and $41 million of costs related to plant closures recognized in Cost of Sales. Beef segment results for the nine months ended July 1, 2023 included $42 million of insurance proceeds, net of costs incurred, recognized in Cost of Sales.
(b) Pork segment results for the three and nine months ended June 29, 2024 included $39 million and $73 million, respectively, of costs related to plant closures, recognized in Cost of Sales. Additionally, Pork segment results for the three and nine months ended June 29, 2024 included $45 million and $73 million, respectively, related to the recognition of legal contingency accruals, of which the amount recognized in the third quarter of fiscal 2024 was a reduction to Sales and the remainder was recognized in Cost of Sales.
(c) Chicken segment results for the three and nine months ended June 29, 2024 included $2 million and $41 million, respectively, of costs related to plant closures and $5 million of production facility fire costs incurred, net of insurance proceeds, and $19 million of insurance proceeds, net of costs incurred, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended June 29, 2024 included a $56 million legal contingency accrual, recognized in Costs of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included production facility fire insurance proceeds, net of costs incurred, of $22 million and $15 million, respectively, recognized in Cost of Sales, and costs related to plant closures of $15 million and $107 million, respectively, recognized in Cost of Sales. Chicken segment results for the three and nine months ended July 1, 2023 included a charge of $38 million related to the recognition of a legal contingency accrual, recognized as a reduction to Sales, and $210 million of goodwill impairment.
(d) International/Other results for the three and nine months ended June 29, 2024 included $3 million and $83 million, respectively, of costs, net of insurance proceeds, related to a fire at our production facility in the Netherlands and subsequent decision to sell, recognized in Cost of Sales. International/Other results for the three and nine months ended July 1, 2023 included $238 million of goodwill impairment.
The following tables further disaggregate our sales to customers by major distribution channels (in millions):
Three months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,566 $1,318 $707 $541 $5,132 $109 $5,241 
Pork464 141 322 228 1,155 307 1,462 
Chicken1,720 1,567 256 509 4,052 24 4,076 
Prepared Foods1,434 876 58 64 2,432 — 2,432 
International/Other— — 582 — 582 — 582 
Intersegment— — — — — (440)(440)
Total$6,184 $3,902 $1,925 $1,342 $13,353 $— $13,353 
Three months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$2,313 $1,257 $671 $575 $4,816 $140 $4,956 
Pork394 125 294 305 1,118 206 1,324 
Chicken1,823 1,636 264 467 4,190 22 4,212 
Prepared Foods1,396 898 55 34 2,383 — 2,383 
International/Other— — 633 — 633 — 633 
Intersegment— — — — — (368)(368)
Total$5,926 $3,916 $1,917 $1,381 $13,140 $— $13,140 
Nine months ended June 29, 2024
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$7,330 $3,920 $2,001 $1,668 $14,919 $299 $15,218 
Pork1,374 379 1,050 797 3,600 865 4,465 
Chicken5,188 4,782 698 1,434 12,102 72 12,174 
Prepared Foods4,336 2,733 168 142 7,379 — 7,379 
International/Other— — 1,744 — 1,744 — 1,744 
Intersegment— — — — — (1,236)(1,236)
Total$18,228 $11,814 $5,661 $4,041 $39,744 $— $39,744 
Nine months ended July 1, 2023
Retail(a)
Foodservice(b)
International(c)
Industrial and Other(d)
Total External CustomersIntersegmentTotal
Beef$6,581 $3,577 $1,978 $1,782 $13,918 $378 $14,296 
Pork1,268 356 926 994 3,544 730 4,274 
Chicken5,668 4,902 758 1,521 12,849 56 12,905 
Prepared Foods4,334 2,734 162 113 7,343 — 7,343 
International/Other— — 1,879 — 1,879 — 1,879 
Intersegment— — — — — (1,164)(1,164)
Total$17,851 $11,569 $5,703 $4,410 $39,533 $— $39,533 
(a) Includes external sales to consumer products and food retailers, such as grocery retailers, warehouse club stores and internet-based retailers.
(b) Includes external sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.
(c) Includes external sales to international markets for internationally produced products or export sales of domestically produced products.
(d) Includes external sales to industrial food processing companies that further process our product to sell to end consumers and any remaining sales not included in the Retail, Foodservice or International categories. For the three and nine months ended June 29, 2024, the Pork segment included a $45 million reduction in Other due to the recognition of a legal contingency accrual. For the three and nine months ended July 1, 2023, the Chicken segment included a $38 million reduction in Other due to the recognition of a legal contingency accrual.
    
Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 1,462 1,324 $ 4,465 4,274  
Loss Contingency, Loss in Period     73    
Revenue from External Customer [Line Items] 1,155 1,118 3,600 3,544  
Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 5,241 4,956 15,218 14,296  
Revenue from External Customer [Line Items] 5,132 4,816 14,919 13,918  
Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 4,076 4,212 12,174 12,905  
Goodwill, Impairment Loss   210   210  
Revenue from External Customer [Line Items] 4,052 4,190 12,102 12,849  
Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 2,432 2,383 7,379 7,343  
Revenue from External Customer [Line Items] 2,432 2,383 7,379 7,343  
Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 582 633 1,744 1,879  
Goodwill, Impairment Loss   238   238  
Revenue from External Customer [Line Items] 582 633 1,744 1,879  
Retail          
Segment Reporting Information [Line Items]          
Sales 6,184 5,926 18,228 17,851  
Retail | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 464 394 1,374 1,268  
Retail | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 2,566 2,313 7,330 6,581  
Retail | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 1,720 1,823 5,188 5,668  
Retail | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 1,434 1,396 4,336 4,334  
Retail | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 0 0 0 0  
Foodservice          
Segment Reporting Information [Line Items]          
Sales 3,902 3,916 11,814 11,569  
Foodservice | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 141 125 379 356  
Foodservice | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 1,318 1,257 3,920 3,577  
Foodservice | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 1,567 1,636 4,782 4,902  
Foodservice | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 876 898 2,733 2,734  
Foodservice | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 0 0 0 0  
International          
Segment Reporting Information [Line Items]          
Sales 1,925 1,917 5,661 5,703  
International | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 322 294 1,050 926  
International | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 707 671 2,001 1,978  
International | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 256 264 698 758  
International | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 58 55 168 162  
International | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 582 633 1,744 1,879  
Industrial and Other          
Segment Reporting Information [Line Items]          
Sales 1,342 1,381 4,041 4,410  
Industrial and Other | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 228 305 797 994  
Industrial and Other | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 541 575 1,668 1,782  
Industrial and Other | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 509 467 1,434 1,521  
Industrial and Other | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 64 34 142 113  
Industrial and Other | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 0 0 0 0  
Intersegment Eliminations          
Segment Reporting Information [Line Items]          
Sales 0 0 0 0  
Intersegment Eliminations | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 307 206 865 730  
Intersegment Eliminations | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 109 140 299 378  
Intersegment Eliminations | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 24 22 72 56  
Intersegment Eliminations | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 0 0 0 0  
Intersegment Eliminations | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 0 0 0 0  
Broiler Antitrust Civil Litigation [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency Accrual 92   92   $ 184
Operating Segments [Member] | Pork [Member]          
Segment Reporting Information [Line Items]          
Sales 1,462 1,324 4,465 4,274  
Operating Income (Loss) (62) (74) (24) (128)  
Operating Segments [Member] | Beef [Member]          
Segment Reporting Information [Line Items]          
Sales 5,241 4,956 15,218 14,296  
Operating Income (Loss) (69) 66 (310) 232  
Operating Segments [Member] | Chicken [Member]          
Segment Reporting Information [Line Items]          
Sales 4,076 4,212 12,174 12,905  
Operating Income (Loss) 244 (314) 579 (503)  
Operating Segments [Member] | Prepared Foods [Member]          
Segment Reporting Information [Line Items]          
Sales 2,432 2,383 7,379 7,343  
Operating Income (Loss) 203 206 676 705  
Operating Segments [Member] | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales     1,744 1,879  
Segment Reconciling Items [Member] | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Sales 582 633      
Operating Income (Loss) 25 (234) (37) (238)  
Intersegment Eliminations          
Segment Reporting Information [Line Items]          
Sales (440) (368) (1,236) (1,164)  
Cost of Sales          
Segment Reporting Information [Line Items]          
Business Exit Costs 41 15 155 107  
Cost of Sales | Pork [Member]          
Segment Reporting Information [Line Items]          
Business Exit Costs 39   73    
Cost of Sales | Beef [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period     45    
Unusual or Infrequent Item, or Both, Insurance Proceeds       42  
Business Exit Costs     41    
Cost of Sales | Chicken [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period 56   56    
Unusual or Infrequent Item, or Both, Insurance Proceeds     19    
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 5 22   15  
Business Exit Costs 2 15 41 107  
Cost of Sales | Corporate and Other [Member]          
Segment Reporting Information [Line Items]          
Unusual or Infrequent Item, or Both, Net of Insurance Proceeds 3   83    
Sales | Pork [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period $ 45   $ 45    
Sales | Chicken [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency, Loss in Period   $ 38   $ 38  
v3.24.2.u1
Segment Reporting Disaggregation of Revenue (By Segment and Distribution Channel) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Disaggregation of Revenue [Line Items]        
Sales $ 13,353 $ 13,140 $ 39,744 $ 39,533
Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,462 1,324 4,465 4,274
Loss Contingency, Loss in Period     73  
Revenue from External Customer [Line Items] 1,155 1,118 3,600 3,544
Pork [Member] | Sales        
Disaggregation of Revenue [Line Items]        
Loss Contingency, Loss in Period 45   45  
Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 4,076 4,212 12,174 12,905
Revenue from External Customer [Line Items] 4,052 4,190 12,102 12,849
Chicken [Member] | Sales        
Disaggregation of Revenue [Line Items]        
Loss Contingency, Loss in Period   38   38
Retail        
Disaggregation of Revenue [Line Items]        
Sales 6,184 5,926 18,228 17,851
Retail | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 464 394 1,374 1,268
Retail | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,720 1,823 5,188 5,668
Foodservice        
Disaggregation of Revenue [Line Items]        
Sales 3,902 3,916 11,814 11,569
Foodservice | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 141 125 379 356
Foodservice | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 1,567 1,636 4,782 4,902
International        
Disaggregation of Revenue [Line Items]        
Sales 1,925 1,917 5,661 5,703
International | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 322 294 1,050 926
International | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 256 264 698 758
Industrial and Other        
Disaggregation of Revenue [Line Items]        
Sales 1,342 1,381 4,041 4,410
Industrial and Other | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 228 305 797 994
Industrial and Other | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 509 467 1,434 1,521
Intersegment Eliminations        
Disaggregation of Revenue [Line Items]        
Sales 0 0 0 0
Intersegment Eliminations | Pork [Member]        
Disaggregation of Revenue [Line Items]        
Sales 307 206 865 730
Intersegment Eliminations | Chicken [Member]        
Disaggregation of Revenue [Line Items]        
Sales 24 22 72 56
Intersegment Eliminations        
Disaggregation of Revenue [Line Items]        
Sales $ (440) $ (368) $ (1,236) $ (1,164)
v3.24.2.u1
Segment Reporting (Narrative) (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 29, 2024
USD ($)
Segments
Jul. 01, 2023
USD ($)
Jun. 29, 2024
USD ($)
Jul. 01, 2023
USD ($)
Sep. 30, 2023
USD ($)
Segment Reporting Information [Line Items]          
Number of Operating Segments | Segments 4        
Sales $ 13,353 $ 13,140 $ 39,744 $ 39,533  
Loss Contingency Accrual 351   351   $ 289
Operating Income (Loss) 341 (350) 884 68  
Broiler Antitrust Civil Litigation [Member]          
Segment Reporting Information [Line Items]          
Loss Contingency Accrual 92   92   $ 184
Intersegment Eliminations          
Segment Reporting Information [Line Items]          
Sales $ (440) $ (368) $ (1,236) $ (1,164)  
v3.24.2.u1
Commitments (Narrative) (Details) - USD ($)
$ in Millions
Jun. 29, 2024
Sep. 30, 2023
Jul. 01, 2023
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 14 12  
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 $ 802    
Guarantee Obligations [Member]      
Guarantor Obligations [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted $ 0    
v3.24.2.u1
Contingencies (Narrative) (Details)
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 22, 2023
USD ($)
Jan. 19, 2021
USD ($)
Dec. 21, 2016
USD ($)
plaintiff
Nov. 29, 2016
USD ($)
plaintiff
May 31, 2024
USD ($)
Jun. 29, 2024
USD ($)
Jul. 01, 2023
USD ($)
Jun. 29, 2024
USD ($)
Jul. 01, 2023
USD ($)
Dec. 31, 2004
USD ($)
Dec. 30, 2023
USD ($)
Sep. 30, 2023
USD ($)
Loss Contingencies [Line Items]                        
Loss Contingency Accrual           $ 351,000,000   $ 351,000,000       $ 289,000,000
Chicken [Member] | Sales                        
Loss Contingencies [Line Items]                        
Loss Contingency, Loss in Period             $ 38,000,000   $ 38,000,000      
Pork [Member]                        
Loss Contingencies [Line Items]                        
Loss Contingency, Loss in Period               73,000,000        
Pork [Member] | Sales                        
Loss Contingencies [Line Items]                        
Loss Contingency, Loss in Period           45,000,000   45,000,000        
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 5,984                
Loss Contingency, Estimate of Possible Loss Per Complainant     $ 1,200                  
Broiler Antitrust Civil Litigation [Member]                        
Loss Contingencies [Line Items]                        
Litigation Settlement, Amount Awarded to Other Party   $ 221,500,000                    
Broiler Antitrust Civil Litigation [Member]                        
Loss Contingencies [Line Items]                        
Loss Contingency Accrual           92,000,000   92,000,000       184,000,000
Republic of the Philippines, Department of Labor and Employment                        
Loss Contingencies [Line Items]                        
Loss Contingency, Damages Awarded, Value       $ 254,000,000           $ 59,000,000    
Wage Rate Litigation                        
Loss Contingencies [Line Items]                        
Litigation Settlement, Amount Awarded to Other Party $ 72,500,000       $ 115,500,000              
Loss Contingency Accrual           116,000,000   $ 116,000,000     $ 72,500,000 $ 60,000,000
Loss Contingency Accrual, Period Increase (Decrease)           56,000,000            
Pork Antitrust Litigation | Pork [Member] | Sales                        
Loss Contingencies [Line Items]                        
Loss Contingency, Loss in Period           $ 45,000,000            
v3.24.2.u1
Label Element Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 573,000,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 1,031,000,000