XML 75 R56.htm IDEA: XBRL DOCUMENT v3.8.0.1
Acquisitions (Details)
$ / shares in Units, $ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jan. 05, 2018
USD ($)
facility
Aug. 30, 2017
USD ($)
Oct. 28, 2016
USD ($)
Sep. 01, 2016
USD ($)
Feb. 07, 2016
USD ($)
Apr. 01, 2017
USD ($)
Dec. 31, 2016
USD ($)
item
Dec. 31, 2017
USD ($)
$ / shares
Dec. 31, 2016
USD ($)
$ / shares
Dec. 31, 2015
USD ($)
$ / shares
Oct. 27, 2016
Dec. 31, 2007
USD ($)
Acquisitions                        
Goodwill             $ 19 $ 22 $ 19      
Net sales               5,809 5,379 $ 5,594    
Net earnings (losses)               $ 246 $ 314 $ 172    
Earnings per common share | $ / shares               $ 211.01 $ 266.50 $ 146.44    
Maximum                        
Acquisitions                        
Time lag for reporting financial information               3 months        
Belarina                        
Acquisitions                        
Acquisition of business, cash consideration     $ 0                  
Mimran                        
Acquisitions                        
Acquisition of business, cash consideration $ 375                      
Earn-out, low end of range 0                      
Earn-out, high end of range $ 48                      
Earn-out time period following closing, low end of range 5 years                      
Earn-out time period following closing, high end of range 8 years                      
Time period performance of business is measured to determine earn-out 5 years                      
Number of flour mills operated | facility 3                      
Pork                        
Acquisitions                        
Goodwill                       $ 12
Pork | New Fashion Pork, LLP                        
Acquisitions                        
Acquisition of business, cash consideration   $ 40                    
Inventories   6                    
Property, plant and equipment   34                    
Total   40                    
Pork | New Fashion Pork, LLP | Maximum                        
Acquisitions                        
Acquisition costs   $ 1                    
Pork | Texas Farm LLC                        
Acquisitions                        
Acquisition of business, cash consideration       $ 59                
Inventories       16                
Property, plant and equipment       42                
Goodwill       3                
Accounts payable       (2)                
Total       59                
Net sales                 $ 4      
Net earnings (losses)                 (2)      
Pork | Texas Farm LLC | Maximum                        
Acquisitions                        
Acquisition costs       $ 1                
Pork | Christensen Farms                        
Acquisitions                        
Acquisition of business, cash consideration         $ 148              
Inventories         33              
Property, plant and equipment         111              
Intangible assets         1              
Goodwill         3              
Total         148              
Net sales                 119      
Net earnings (losses)                 (5)      
Pork | Christensen Farms | Maximum                        
Acquisitions                        
Acquisition costs         $ 1              
Pork | Christensen Farms | Customer relationships                        
Acquisitions                        
Weighted average useful life (in years)         1 year 7 months 6 days              
Pork | Additional acquisitions                        
Acquisitions                        
Acquisition of business, cash consideration             $ 12          
Number of acquisitions | item             3          
Inventories             $ 1   1      
Property, plant and equipment             11   $ 11      
Pork | Additional acquisitions | Maximum                        
Acquisitions                        
Acquisition costs             $ 1          
Commodity Trading and Milling | Pulse and grain elevator                        
Acquisitions                        
Acquisition of business, cash consideration           $ 14   $ 14        
Property, plant and equipment           11            
Goodwill           3            
Commodity Trading and Milling | Pulse and grain elevator | Maximum                        
Acquisitions                        
Acquisition costs           $ 1            
Commodity Trading and Milling | Belarina                        
Acquisitions                        
Acquisition of business, cash consideration     0                  
Accounts receivable     7                  
Inventories     6                  
Property, plant and equipment     25                  
Other assets     4                  
Goodwill     1                  
Third-party debt     (14)                  
Other liabilities     (11)                  
Total     18                  
Fair value of pre-existing interest     18                  
Net sales     $ 0                  
Percentage of ownership                     50.00%  
Voting equity ownership percentage     98.00%                  
Time lag for reporting financial information     3 months                  
Commodity Trading and Milling | Belarina | Selling, general and administrative expenses                        
Acquisitions                        
Gain related to recognizing the fair value of pre-existing affiliate receivables     $ 4                  
Commodity Trading and Milling | Mimran                        
Acquisitions                        
Acquisition of business, cash consideration $ 375                      
Earn-out, low end of range 0                      
Earn-out, high end of range $ 48