Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Loss Contingencies [Table]

Summary of non-cancelable commitments under contractual obligations

	Years ended December 31,
(Millions of dollars)	2022		2023		2024		2025		2026		Thereafter		Totals
Hog procurement contracts (a)	$	129	$	94	$	92	$	95	$	82	$	22	$	514
Grain and feedstock commitments (b)		424		250		152		24		18		—		868
Grain purchase contracts for resale (c)		1,022		3		—		—		—		—		1,025
Fuel supply contracts (d)		87		55		69		79		91		373		754
Capital expenditures (e)		221		17		89		—		—		—		327
Other commitments		177		4		4		3		3		24		215
Total unrecognized non-cancelable commitments	$	2,060	$	423	$	406	$	201	$	194	$	419	$	3,703

(a) The Pork segment has contracted with third parties for the purchase of hogs to support its operations. The amounts are based on projected market prices as of December 31, 2021. During 2021, 2020 and 2019, the Pork segment paid $145 million, $108 million and $121 million, respectively, for hogs purchased under committed contracts.

(b) The Pork segment enters into grain purchase and feedstock contracts to support its operations. For variable costs, the amounts are based on projected commodity prices as of December 31, 2021.

(c) The CT&M segment enters into grain purchase contracts, primarily to support firm sales commitments. The amounts are based on projected commodity prices as of December 31, 2021.

(d) The Power segment has a natural gas supply contract for a significant portion of the fuel required for the barge under construction. Also, the Marine segment has a fuel supply agreement to purchase natural gas for the vessels under construction. The variable price components are based on market prices as of December 31, 2021.

(e) The capital expenditures are primarily for the Marine segment’s purchase of two vessels in 2022 and construction of three vessels with expected delivery in 2024, based on contracts. The biogas recovery and other projects in the Pork segment are based on commitments per respective contracts.