Segment Information (Tables)

6 Months Ended

Jun. 30, 2018

Summary of specific financial information related to sales to external customers

Sales to External Customers:	Three Months Ended				Six Months Ended
	June 30,		July 1,		June 30,		July 1,
(Millions of dollars)	2018		2017		2018		2017
Pork	$	442	$	414	$	908	$	784
Commodity Trading and Milling		890		701		1,676		1,428
Marine		263		232		512		466
Sugar		61		48		112		88
Power		31		23		54		47
All Other		4		4		8		8
Segment/Consolidated Totals	$	1,691	$	1,422	$	3,270	$	2,821

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

Operating Income (Loss):	Three Months Ended				Six Months Ended
	June 30,		July 1,		June 30,		July 1,
(Millions of dollars)	2018		2017		2018		2017
Pork	$	17	$	52	$	109	$	102
Commodity Trading and Milling		(2)		1		9		18
Marine		4		1		—		4
Sugar		10		3		12		6
Power		6		2		6		4
All Other		1		1		1		1
Segment Totals		36		60		137		135
Corporate		(4)		(5)		(8)		(12)
Consolidated Totals	$	32	$	55	$	129	$	123

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

Income (Loss) from Affiliates:	Three Months Ended				Six Months Ended
	June 30,		July 1,		June 30,		July 1,
(Millions of dollars)	2018		2017		2018		2017
Pork	$	(6)	$	3	$	(13)	$	3
Commodity Trading and Milling		(4)		2		(6)		6
Marine		1		—		1		(6)
Sugar		—		—		—		—
Power		1		1		3		1
Turkey		(8)		(14)		(7)		(11)
Segment/Consolidated Totals	$	(16)	$	(8)	$	(22)	$	(7)

Summary of specific financial information related to total assets

Total Assets:	June 30,		December 31,
(Millions of dollars)	2018		2017
Pork	$	1,313	$	1,309
Commodity Trading and Milling		1,482		964
Marine		338		376
Sugar		144		197
Power		186		188
Turkey		303		315
All Other		7		4
Segment Totals		3,773		3,353
Corporate		1,403		1,808
Consolidated Totals	$	5,176	$	5,161

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

Investments in and Advances to Affiliates:	June 30,		December 31,
(Millions of dollars)	2018		2017
Pork	$	217	$	231
Commodity Trading and Milling		255		240
Marine		29		28
Sugar		4		4
Power		41		38
Turkey		303		310
Segment/Consolidated Totals	$	849	$	851

Butterball, LLC

Summary of specific financial information related to equity method

	Three Months Ended				Six Months Ended
		June 30,		July 1,		June 30,		July 1,
(Millions of dollars)		2018		2017		2018		2017
Net sales	$	326	$	354	$	647	$	704
Operating loss	$	(12)	$	(20)	$	(10)	$	(10)
Net loss	$	(15)	$	(27)	$	(13)	$	(22)

Mimran

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 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

Schedule of proforma information related to acquisitions

	Three months ended				Six months ended
		June 30,		July 1,	June 30,		July 1,
(Millions of dollars except per share amounts)		2018		2017	2018		2017
Net sales	$	1,691	$	1,493	$	3,330	$	2,956
Net earnings	$	7	$	65	$	43	$	156
Earnings per common share	$	6.28	$	56.61	$	36.74	$	133.39

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