Acquisitions and Dispositions (Tables)

9 Months Ended

Jun. 27, 2015

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date. Certain estimated values for the acquisition, including goodwill, intangible assets, property, plant and equipment, and deferred taxes, are not yet finalized and the preliminary purchase price allocations are subject to change as we complete our analysis of the fair value at the date of acquisition. The purchase price was allocated based on information available at the acquisition date. During the first nine months of fiscal 2015, we recorded measurement period adjustments, which reduced goodwill by $14 million, after obtaining additional information regarding, among other things, asset valuations and liabilities assumed. The amount was not considered material and therefore prior periods have not been revised.

	in millions
Cash and cash equivalents		$	72
Accounts receivable		236
Inventories		414
Other current assets		343
Property, Plant and Equipment		1,301
Goodwill		4,790
Intangible Assets		5,141
Other Assets		64
Accounts payable		(347		)
Other current liabilities		(327		)
Long-Term Debt		(869		)
Deferred Income Taxes		(2,074		)
Other Liabilities		(500		)
Net assets acquired		$	8,244

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The fair value of identifiable intangible assets is as follows (in millions):

Intangible Asset Category	Type	Life in Years	Fair Value
Brands & trademarks	Non-amortizable	Indefinite	$	4,062
Brands & trademarks	Amortizable	20 years	532
Customer relationships	Amortizable	Weighted average life of 16 years	541
Non-compete agreements	Amortizable	One year	6
Total identifiable intangible assets			$	5,141

Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The fair value of identifiable intangible assets is as follows (in millions):

Intangible Asset Category	Type	Life in Years	Fair Value
Brands & trademarks	Non-amortizable	Indefinite	$	4,062
Brands & trademarks	Amortizable	20 years	532
Customer relationships	Amortizable	Weighted average life of 16 years	541
Non-compete agreements	Amortizable	One year	6
Total identifiable intangible assets			$	5,141

Business Acquisition, Pro Forma Information [Table Text Block]

The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisition occurred on the assumed date, nor is it necessarily an indication of future operating results. The pro forma results for the nine months ended June 28, 2014, include a nonrecurring tax benefit of $46 million recognized by Hillshire Brands primarily related to the release of valuation allowances on state deferred tax assets.

in millions	Three Months Ended		Nine Months Ended
	June 28, 2014		June 28, 2014
Pro forma sales	$	10,722	$	30,509
Pro forma net income from continuing operations attributable to Tyson	$	258	$	819
Pro forma net income per diluted share from continuing operations attributable to Tyson	$	0.61	$	1.95

Summary of Net Assets and Liabilities Held for Sale

The following table summarizes the net assets and liabilities held for sale (in millions):

	June 27, 2015		September 27, 2014
Assets held for sale:
Accounts receivable, net	$	15	$	74
Inventories	68		141
Other current assets	11		72
Net property, plant and equipment	74		132
Goodwill	14		16
Other assets	7		11
Total assets held for sale	$	189	$	446
Liabilities held for sale:
Current debt	$	—	$	32
Accounts payable	23		61
Other current liabilities	18		27
Long-term debt	—		9
Deferred income taxes	11		12
Total liabilities held for sale	$	52	$	141