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Derivative Financial Instruments (Tables)
6 Months Ended
Mar. 31, 2018
Derivative [Line Items]  
Schedule Of Notional Amount Of Derivatives
We had the following aggregated outstanding notional amounts related to our derivative financial instruments (in millions, except soy meal tons):
 
Metric
 
March 31, 2018
 
September 30, 2017
Commodity:
 
 
 
 
 
Corn
Bushels
 
79

 
55

Soy meal
Tons
 
278,600

 
475,200

Live cattle
Pounds
 
124

 
211

Lean hogs
Pounds
 
37

 
240

Foreign currency
United States dollar
 
$
74

 
$
58

Designated as hedges | Cash Flow Hedging [Member]  
Derivative [Line Items]  
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 31, 2018
 
April 1, 2017
 
 
 
March 31, 2018
 
April 1, 2017
Cash flow hedge – derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$
2

 
$
(1
)
 
Cost of sales
 
$
(2
)
 
$
3

Foreign exchange contracts

 

 
Other income/expense
 

 

Total
$
2

 
$
(1
)
 
 
 
$
(2
)
 
$
3

 
 
 
 
 
 
 
 
 
 
 
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 31, 2018
 
April 1, 2017
 
 
 
March 31, 2018
 
April 1, 2017
Cash flow hedge – derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$

 
$

 
Cost of sales
 
$
(3
)
 
$
(1
)
Foreign exchange contracts

 

 
Other income/expense
 

 

Total
$

 
$

 
 
 
$
(3
)
 
$
(1
)
Designated as hedges | Fair Value Hedging [Member]  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block]
 
 
 
 
 
 
 
in millions

 
Consolidated Condensed
Statements of Income
Classification
 
Three Months Ended
 
Six Months Ended
 
 
March 31, 2018
 
April 1, 2017
 
March 31, 2018
 
April 1, 2017
Gain (Loss) on forwards
Cost of sales
 
$
1

 
$
(12
)
 
$
(6
)
 
$
(16
)
Gain (Loss) on purchase contract
Cost of sales
 
(1
)
 
12

 
6

 
16

Undesignated  
Derivative [Line Items]  
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table sets forth the pretax impact of the undesignated derivative instruments in 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 31, 2018
 
April 1, 2017
 
March 31, 2018
 
April 1, 2017
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
Sales
 
$
(30
)
 
$
25

 
$
(21
)
 
$
76

Commodity contracts
Cost of sales
 
68

 
(45
)
 
46

 
(46
)
Foreign exchange contracts
Other income/expense
 
(2
)
 

 
(2
)
 

Total
 
 
$
36

 
$
(20
)
 
$
23

 
$
30