Derivative Financial Instruments (Tables)

6 Months Ended

Mar. 29, 2014

Derivative [Line Items]

Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value

The following table sets forth the fair value of all derivative instruments outstanding in the Consolidated Condensed Balance Sheets (in millions):

	Fair Value
	March 29, 2014		September 28, 2013
Derivative Assets:
Derivatives designated as hedging instruments:
Commodity contracts	$	5	$	4
Foreign exchange contracts	—		1
Total derivative assets – designated	5		5
Derivatives not designated as hedging instruments:
Commodity contracts	45		25
Foreign exchange contracts	1		2
Total derivative assets – not designated	46		27
Total derivative assets	$	51	$	32
Derivative Liabilities:
Derivatives designated as hedging instruments:
Commodity contracts	$	119	$	29
Foreign exchange contracts	—		—
Total derivative liabilities – designated	119		29
Derivatives not designated as hedging instruments:
Commodity contracts	66		72
Foreign exchange contracts	1		1
Total derivative liabilities – not designated	67		73
Total derivative liabilities	$	186	$	102

Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]

Derivative [Line Items]

Schedule Of Notional Amount Of Derivatives

We had the following aggregated notional values of outstanding forward and option contracts accounted for as cash flow hedges (in millions, except soy meal tons):

	Metric	March 29, 2014		September 28, 2013
Commodity:
Corn	Bushels	4		5
Soy meal	Tons	70,300		96,800
Foreign Currency	United States dollar	$	31	$	60

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table sets forth the pretax impact of cash flow hedge derivative instruments on the Consolidated Condensed Statements of Income (in millions):

	Gain/(Loss) Recognized in OCI On Derivatives						Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Three Months Ended							Three Months Ended
	March 29, 2014			March 30, 2013				March 29, 2014			March 30, 2013
Cash Flow Hedge – Derivatives designated as hedging instruments:
Commodity contracts	$	8		$	(10	)	Cost of Sales	$	(3	)	$	(7	)
Foreign exchange contracts	—			(5		)	Other Income/Expense	—			—
Total	$	8		$	(15	)		$	(3	)	$	(7	)
	Gain/(Loss) Recognized in OCI On Derivatives						Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Six Months Ended							Six Months Ended
	March 29, 2014			March 30, 2013				March 29, 2014			March 30, 2013
Cash Flow Hedge – Derivatives designated as hedging instruments:
Commodity contracts	$	6		$	(23	)	Cost of Sales	$	(3	)	$	(3	)
Foreign exchange contracts	(1		)	(5		)	Other Income/Expense	—			(2		)
Total	$	5		$	(28	)		$	(3	)	$	(5	)

Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]

Derivative [Line Items]

Schedule Of Notional Amount Of Derivatives

We had the following aggregated notional values of outstanding forward contracts entered into to hedge firm commitments which are accounted for as a fair value hedge (in millions):

	Metric	March 29, 2014	September 28, 2013
Commodity:
Live Cattle	Pounds	358	209
Lean Hogs	Pounds	470	384

Derivative Instruments, Gain (Loss) [Table Text Block]

											in millions
	Consolidated Condensed Statements of Income Classification	Three Months Ended						Six Months Ended
		March 29, 2014			March 30, 2013			March 29, 2014			March 30, 2013
Gain/(Loss) on forwards	Cost of Sales	$	(34	)	$	11		$	(40	)	$	15
Gain/(Loss) on purchase contract	Cost of Sales	34			(11		)	40			(15		)

Not Designated as Hedging Instrument [Member]

Derivative [Line Items]

Schedule Of Notional Amount Of Derivatives

We had the following aggregate outstanding notional values related to our undesignated positions (in millions, except soy meal tons):

	Metric	March 29, 2014		September 28, 2013
Commodity:
Corn	Bushels	35		69
Soy Meal	Tons	274,400		204,600
Soy Oil	Pounds	35		11
Live Cattle	Pounds	137		60
Lean Hogs	Pounds	153		159
Foreign Currency	United States dollars	$	100	$	95

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table sets forth the pretax impact of the undesignated derivative instruments on the Consolidated Condensed Statements of Income (in millions):

	Consolidated Condensed Statements of Income Classification	Gain/(Loss) Recognized in Earnings						Gain/(Loss) Recognized in Earnings
		Three Months Ended						Six Months Ended
		March 29, 2014			March 30, 2013			March 29, 2014			March 30, 2013
Derivatives not designated as hedging instruments:
Commodity contracts	Sales	$	30		$	(23	)	$	32		$	(12	)
Commodity contracts	Cost of Sales	(40		)	—			(42		)	(7		)
Foreign exchange contracts	Other Income/Expense	2			1			1			2
Total		$	(8	)	$	(22	)	$	(9	)	$	(17	)