Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Loss Contingencies [Table]

Summary of non-cancelable commitments under contractual obligations

	Years ended December 31,
(Millions of dollars)	2023		2024		2025		2026		2027		Thereafter		Totals
Hog procurement contracts (a)	$	86	$	57	$	57	$	42	$	—	$	—	$	242
Grain and feedstock commitments (b)		581		152		4		3		—		—		740
Grain purchase contracts for resale (c)		842		1		—		—		—		—		843
Fuel supply contracts (d)		113		87		98		98		98		369		863
Capital expenditures (e)		127		152		98		—		—		—		377
Other commitments		130		1		1		1		1		9		143
Total unrecognized non-cancelable commitments	$	1,879	$	450	$	258	$	144	$	99	$	378	$	3,208

(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, 2022.

(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, 2022.

(c) The CT&M segment enters into grain purchase contracts, primarily to support firm sales commitments. The amounts are fixed or based on projected commodity prices as of December 31, 2022.

(d) The Power segment has a natural gas supply contract for a significant portion of the fuel required for EDM III. Also, the Marine segment has a fuel supply agreement to purchase natural gas for the initial three vessels under construction. The variable price components are based on market prices as of December 31, 2022.

(e) The capital expenditures are primarily for the Marine segment’s construction of six vessels with expected delivery of three in 2024 and three in 2025 and the Pork segment’s biogas recovery projects and other investments that are expected to be completed in 2023. The amounts are based on milestones per respective contracts.