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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jul. 02, 2022
Jul. 03, 2021
Net sales:        
Total net sales $ 2,973 $ 2,430 $ 5,682 $ 4,489
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 2,692 2,177 5,165 4,058
Gross income 281 253 517 431
Selling, general and administrative expenses 89 88 179 174
Operating income 192 165 338 257
Other income (expense):        
Interest expense (12) (6) (10)  
Interest expense       4
Interest income 7 6 12 11
Income (loss) from affiliates 23 (5) 46 1
Other investment income (loss), net (162) 46 (227) 117
Foreign currency gains (losses), net 12 (7) 12 2
Miscellaneous, net 2 1 10 7
Total other income (expense), net (130) 35 (157) 142
Earnings before income taxes 62 200 181 399
Income tax benefit (expense) 46 (24) 31 (44)
Net earnings 108 176 212 355
Less: Net income attributable to noncontrolling interests 0 0 (1) 0
Net earnings attributable to Seaboard $ 108 $ 176 $ 211 $ 355
Earnings per common share (in dollars per share) $ 92.53 $ 151.56 $ 181.81 $ 305.59
Average number of shares outstanding (in shares) 1,160,779 1,160,779 1,160,779 1,160,779
Other comprehensive income (loss), net of income tax expense of $0, $1, $0 and $1:        
Foreign currency translation adjustment $ (2) $ (15) $ (3)  
Unrecognized pension cost 1 4 1 $ 5
Other comprehensive income (loss), net of tax (1) (11) (2) 5
Comprehensive income 107 165 210 360
Less: Comprehensive income attributable to noncontrolling interests 0 0 (1) 0
Comprehensive income attributable to Seaboard 107 165 209 360
Products        
Net sales:        
Total net sales 2,388 2,089 4,602 3,820
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 2,302 1,894 4,423 3,500
Services        
Net sales:        
Total net sales 538 330 1,015 643
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 350 269 681 530
Other        
Net sales:        
Total net sales 47 11 65 26
Cost of sales and operating expenses:        
Total cost of sales and operating expenses $ 40 $ 14 $ 61 $ 28