Segment Information (Tables)

9 Months Ended

Sep. 29, 2018

Summary of specific financial information related to sales to external customers

Sales to External Customers:	Three Months Ended				Nine Months Ended
	September 29,		September 30,		September 29,		September 30,
(Millions of dollars)	2018		2017		2018		2017
Pork	$	412	$	404	$	1,320	$	1,188
Commodity Trading and Milling		898		694		2,574		2,122
Marine		259		225		771		691
Sugar		43		50		155		138
Power		34		25		88		72
All Other		5		4		13		12
Segment/Consolidated Totals	$	1,651	$	1,402	$	4,921	$	4,223

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

Operating Income (Loss):	Three Months Ended				Nine Months Ended
	September 29,		September 30,		September 29,		September 30,
(Millions of dollars)	2018		2017		2018		2017
Pork	$	2	$	59	$	111	$	162
Commodity Trading and Milling		21		7		30		25
Marine		9		4		9		8
Sugar		5		6		17		12
Power		7		3		13		7
All Other		1		—		2		1
Segment Totals		45		79		182		215
Corporate		(8)		(6)		(16)		(19)
Consolidated Totals	$	37	$	73	$	166	$	196

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

Income (Loss) from Affiliates:	Three Months Ended				Nine Months Ended
	September 29,		September 30,		September 29,		September 30,
(Millions of dollars)	2018		2017		2018		2017
Pork	$	(8)	$	(4)	$	(21)	$	(1)
Commodity Trading and Milling		(4)		(1)		(10)		5
Marine		—		(1)		1		(7)
Sugar		1		1		1		1
Power		4		2		7		3
Turkey		(11)		—		(18)		(11)
Segment/Consolidated Totals	$	(18)	$	(3)	$	(40)	$	(10)

Summary of specific financial information related to total assets

Total Assets:	September 29,		December 31,
(Millions of dollars)	2018		2017
Pork	$	1,298	$	1,309
Commodity Trading and Milling		1,467		964
Marine		336		376
Sugar		135		197
Power		180		188
Turkey		292		315
All Other		8		4
Segment Totals		3,716		3,353
Corporate		1,719		1,808
Consolidated Totals	$	5,435	$	5,161

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

Investments in and Advances to Affiliates:	September 29,		December 31,
(Millions of dollars)	2018		2017
Pork	$	207	$	231
Commodity Trading and Milling		260		240
Marine		29		28
Sugar		4		4
Power		31		38
Turkey		292		310
Segment/Consolidated Totals	$	823	$	851

Butterball, LLC

Summary of specific financial information related to equity method

	Three Months Ended				Nine Months Ended
		September 29,		September 30,		September 29,		September 30,
(Millions of dollars)		2018		2017		2018		2017
Net sales	$	399	$	439	$	1,046	$	1,143
Operating income (loss)	$	(19)	$	9	$	(29)	$	(1)
Net income (loss)	$	(23)	$	1	$	(36)	$	(21)

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 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

Schedule of proforma information related to acquisitions

	Three Months Ended				Nine Months Ended
		September 29,		September 30,	September 29,		September 30,
(Millions of dollars except per share amounts)		2018		2017	2018		2017
Net sales	$	1,651	$	1,475	$	4,981	$	4,431
Net earnings	$	35	$	87	$	78	$	243
Earnings per common share	$	29.93	$	74.42	$	67.90	$	207.81