Segment Information (Tables)

3 Months Ended

Mar. 31, 2018

Summary of total purchase price for this acquisition subject to working capital adjustment, based on acquisition date fair values and using the exchange rate in effect at the time of acquisition

(Millions of  U.S. dollars)		Fair Value
Cash payment, net of $64 million of cash acquired	$	270
Euro denominated note payable due 2021, 3.25% interest		46
Contingent consideration		14
Total fair value of consideration at acquisition date	$	330

Summary of specific financial information related to sales to external customers

Sales to External Customers:	Three Months Ended
	March 31,		April 1,
(Millions of dollars)	2018		2017
Pork	$	466	$	370
Commodity Trading and Milling		786		727
Marine		249		234
Sugar		51		40
Power		23		24
All Other		4		4
Segment/Consolidated Totals	$	1,579	$	1,399

Summary of specific financial information related to operating income (loss)

Operating Income (Loss):	Three Months Ended
	March 31,		April 1,
(Millions of dollars)	2018		2017
Pork	$	92	$	50
Commodity Trading and Milling		11		17
Marine		(4)		3
Sugar		2		3
Power		—		2
All Other		—		—
Segment Totals		101		75
Corporate		(4)		(7)
Consolidated Totals	$	97	$	68

Summary of specific financial information related to income (loss) from affiliates

Income (Loss) from Affiliates:	Three Months Ended
	March 31,		April 1,
(Millions of dollars)	2018		2017
Pork	$	(7)	$	—
Commodity Trading and Milling		(2)		4
Marine		—		(6)
Sugar		—		—
Power		2		—
Turkey		1		3
Segment/Consolidated Totals	$	(6)	$	1

Summary of specific financial information related to total assets

Total Assets:	March 31,		December 31,
(Millions of dollars)	2018		2017
Pork	$	1,386	$	1,309
Commodity Trading and Milling		1,431		964
Marine		347		376
Sugar		175		197
Power		190		188
Turkey		311		315
All Other		6		4
Segment Totals		3,846		3,353
Corporate		1,409		1,808
Consolidated Totals	$	5,255	$	5,161

Summary of specific financial information related to investments in and advances to affiliates

Investments in and Advances to Affiliates:	March 31,		December 31,
(Millions of dollars)	2018		2017
Pork	$	224	$	231
Commodity Trading and Milling		259		240
Marine		29		28
Sugar		4		4
Power		39		38
Turkey		311		310
Segment/Consolidated Totals	$	866	$	851

Butterball, LLC

Schedule of summarized income statement information

	Three Months Ended
		March 31,		April 1,
(Millions of dollars)		2018		2017
Net sales	$	321	$	350
Operating income	$	2	$	10
Net income	$	2	$	5

Mimran

Schedule of proforma information related to acquisitions

	Three months ended
	March 31,		April 1,
(Millions of dollars except per share amounts)	2018		2017
Net sales	$	1,639	$	1,463
Net earnings	$	36	$	91
Earnings per common share	$	30.46	$	76.78

Schedule of allocation of purchase price

(Millions of dollars)		Fair Value
Current assets	$	84
Property, plant and equipment		57
Intangible assets		100
Goodwill		161
Other long-term assets		4
Total fair value of assets acquired		406
Current liabilities		(38)
Other long-term liabilities		(34)
Total fair value of liabilities assumed		(72)
Less: Noncontrolling interest		(4)
Net fair value of assets acquired	$	330