INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES |
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Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES | INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES The Company accounts for its majority-owned operations under the consolidation method. Investments in which the Company owns a minority interest and for which there are no other indicators of control are accounted for under the equity or cost method. These investments, along with any related receivables from affiliates, are included in the Consolidated Condensed Statements of Financial Position as Investments In and Receivables From Affiliates. Investments In and Receivables From Affiliates consist of:
Equity in Earnings of Affiliates consists of:
For the quarter ended January 30, 2022, $18.0 million of dividends were received from affiliates, compared to $11.3 million of dividends received for the quarter ended January 24, 2021. The Company recognized a basis difference of $21.3 million associated with the formation of MegaMex Foods, LLC, of which $10.8 million is remaining as of January 30, 2022. This difference is being amortized through Equity in Earnings of Affiliates.
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