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Segment Information
 3 Months Ended
Sep. 28, 2013
Segment Reporting [Abstract]  
Segment Information
Segment Information
The following is a general description of the company’s two business segments:
•
Retail – sells a variety of packaged meat and frozen bakery products to retail customers in North America. It also includes gourmet artisanal sausage, salami and jerky products.
•
Foodservice/Other – sells a variety of meats and bakery products to foodservice customers in North America such as broad-line foodservice distributors, restaurants, hospitals and other large institutions and includes commodity meat products.

The following is a summary of net sales and operating income by business segment:
 
 
Net Sales
 
Three Months Ended
(In millions)
September 28, 2013
 
September 29, 2012
Retail
$
714

 
$
719

Foodservice/Other
270

 
255

Net sales
$
984

 
$
974

 
 
 
 
 
Income from Continuing Operations Before Income Taxes
 
Three Months Ended
(In millions)
September 28, 2013
 
September 29, 2012
Retail
$
60

 
$
84

Foodservice/Other
25

 
25

Total operating segment income
85

 
109

General corporate expense
(25
)
 
(31
)
Mark-to-market derivative gains
2

 
5

Amortization of intangibles
(1
)
 
(1
)
Significant items - business segments
(6
)
 
2

Total operating income
55

 
84

Net interest expense
(11
)
 
(9
)
Income from continuing operations before income taxes
$
44

 
$
75