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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Jun. 27, 2020
Jun. 29, 2019
Net sales:        
Total net sales $ 1,808 $ 1,822 $ 3,491 $ 3,365
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 1,717 1,686 3,265 3,179
Gross income 91 136 226 186
Selling, general and administrative expenses 80 83 152 167
Operating income 11 53 74 19
Other income (expense):        
Interest expense (6) (12) (11) (18)
Interest income 4 8 11 15
Loss from affiliates (17) (16) (21) (34)
Other investment income (loss), net 128 37 (97) 150
Foreign currency gains (losses), net (5) (1) (16) 2
Miscellaneous, net 1   2  
Total other income (expense), net 105 16 (132) 115
Earnings (loss) before income taxes 116 69 (58) 134
Income tax expense (142) (11) (71) (19)
Net earnings (loss) (26) 58 (129) 115
Less: Net loss attributable to noncontrolling interests 0 0 0 0
Net earnings (loss) attributable to Seaboard $ (26) $ 58 $ (129) $ 115
Earnings (loss) per common share $ (22.35) $ 50.13 $ (110.88) $ 98.92
Average number of shares outstanding (in shares) 1,160,779 1,165,740 1,162,307 1,166,575
Other comprehensive income (loss), net of income tax expense of $1, $0, $1 and $0:        
Foreign currency translation adjustment $ (19) $ (9) $ (16) $ (11)
Unrecognized pension cost   3 2 6
Other comprehensive loss, net of tax (19) (6) (14) (5)
Comprehensive income (loss) (45) 52 (143) 110
Less: Comprehensive loss attributable to noncontrolling interests 0 0 0 0
Comprehensive income (loss) attributable to Seaboard (45) 52 (143) 110
Products        
Net sales:        
Total net sales 1,589 1,513 2,971 2,758
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 1,518 1,422 2,796 2,652
Services        
Net sales:        
Total net sales 206 275 489 544
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 185 238 441 478
Other        
Net sales:        
Total net sales 13 34 31 63
Cost of sales and operating expenses:        
Total cost of sales and operating expenses $ 14 $ 26 $ 28 $ 49