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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Sep. 26, 2020
Sep. 28, 2019
Net sales:        
Total net sales $ 1,645 $ 1,663 $ 5,136 $ 5,028
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 1,527 1,589 4,792 4,768
Gross income 118 74 344 260
Selling, general and administrative expenses 89 80 241 247
Operating income (loss) 29 (6) 103 13
Other income (expense):        
Interest expense (6) (9) (17) (27)
Interest income 6 10 17 25
Loss from affiliates (6) (15) (27) (49)
Other investment income (loss), net 56 2 (41) 152
Foreign currency gains (losses), net (5) 1 (21) 3
Miscellaneous, net 1 (1) 3 (1)
Total other income (expense), net 46 (12) (86) 103
Earnings (loss) before income taxes 75 (18) 17 116
Income tax benefit (expense) 72 11 1 (8)
Net earnings (loss) 147 (7) 18 108
Less: Net loss attributable to noncontrolling interests 0 0 0 0
Net earnings (loss) attributable to Seaboard $ 147 $ (7) $ 18 $ 108
Earnings (loss) per common share $ 126.17 $ (6.00) $ 15.14 $ 92.97
Average number of shares outstanding (in shares) 1,160,779 1,165,081 1,161,792 1,166,073
Other comprehensive income (loss), net of income tax expense of $2, $0, $3 and $0:        
Foreign currency translation adjustment $ 5 $ 2 $ (11) $ (9)
Unrecognized pension cost 5 1 7 7
Other comprehensive income (loss), net of tax 10 3 (4) (2)
Comprehensive income (loss) 157 (4) 14 106
Less: Comprehensive loss attributable to noncontrolling interests 0 0 0 0
Comprehensive income (loss) attributable to Seaboard 157 (4) 14 106
Products        
Net sales:        
Total net sales 1,362 1,359 4,333 4,117
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 1,294 1,329 4,090 3,981
Services        
Net sales:        
Total net sales 257 270 746 814
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 215 239 656 717
Other        
Net sales:        
Total net sales 26 34 57 97
Cost of sales and operating expenses:        
Total cost of sales and operating expenses $ 18 $ 21 $ 46 $ 70