XML 61 R45.htm IDEA: XBRL DOCUMENT v3.22.4
Investments in Affiliates (Details)
$ in Millions
3 Months Ended 12 Months Ended
Jan. 01, 2022
USD ($)
Jul. 02, 2022
USD ($)
Dec. 31, 2022
USD ($)
item
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Investments in Affiliates            
Investments in and advances to affiliates     $ 753 $ 651    
Income (loss) from affiliates     152 7 $ (18)  
Purchases from related parties included in Cost of Sales     91      
Proceeds from sale of non-consolidated affiliates     13      
Dividends received from affiliates     40 44 20  
Notes receivable from affiliates     2 1    
Foreign currency translation adjustment     (33) 8 (7)  
Due from affiliates     195 128    
Accounts payable to affiliates     2 1    
Principal payments received on third party notes receivable     5 21    
Financial information            
Operating income (loss)     657 458 245  
Net earnings (loss)     582 571 283  
Total assets     7,902 7,503    
Total liabilities     2,888 3,069    
Total equity     5,014 4,434 3,828 $ 3,601
Affiliates            
Investments in Affiliates            
Deferred revenue     $ 12 24    
Minimum            
Financial information            
Time lag for reporting financial information     1 month      
Maximum            
Financial information            
Time lag for reporting financial information     3 months      
Seaboard de Mexico            
Investments in Affiliates            
Percentage of ownership     50.00%      
Products.            
Investments in Affiliates            
Sales to related parties     $ 1,463 1,396 1,125  
Services.            
Investments in Affiliates            
Sales to related parties     20 20 21  
Pork            
Investments in Affiliates            
Investments in and advances to affiliates     152 142    
Income (loss) from affiliates     24 3 (9)  
Financial information            
Total assets     2,698 2,265    
Pork | Equity method investment in non-consolidated affiliates            
Financial information            
Net sales     2,417 2,010 1,543  
Net earnings (loss)     48 5 (18)  
Total assets     615 584 586  
Total liabilities     312 302 245  
Total equity     $ 303 282 341  
Pork | Mexico            
Investments in Affiliates            
Proceeds from sale of non-consolidated affiliates $ 9          
Gain (loss) on sale of affiliate $ 6          
Percentage of ownership interest sold 50.00%          
Pork | Daily's            
Investments in Affiliates            
Percentage of ownership     50.00%      
Pork | STF            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling            
Investments in Affiliates            
Investments in and advances to affiliates     $ 210 224    
Income (loss) from affiliates     21 18 (2)  
Carrying value of investment in affiliates over (under) entity's share of affiliates' book value     49      
Financial information            
Total assets     1,915 2,054    
Commodity Trading and Milling | Equity method investment in non-consolidated affiliates            
Financial information            
Net sales     3,186 2,766 2,482  
Net earnings (loss)     40 47 (2)  
Total assets     1,848 1,798 1,745  
Total liabilities     1,250 1,199 1,185  
Total equity     $ 598 599 560  
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Botswana            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Democratic Republic of Congo            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Gambia            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Kenya | Minimum            
Investments in Affiliates            
Percentage of ownership     18.47%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Kenya | Maximum            
Investments in Affiliates            
Percentage of ownership     49.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Lesotho            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Mauritania            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Morocco | Minimum            
Investments in Affiliates            
Percentage of ownership     15.13%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Morocco | Maximum            
Investments in Affiliates            
Percentage of ownership     17.71%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Nigeria | Minimum            
Investments in Affiliates            
Percentage of ownership     25.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Nigeria | Maximum            
Investments in Affiliates            
Percentage of ownership     48.33%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Senegal            
Investments in Affiliates            
Percentage of ownership     49.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | South Africa            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Tanzania | Minimum            
Investments in Affiliates            
Percentage of ownership     11.76%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Tanzania | Maximum            
Investments in Affiliates            
Percentage of ownership     49.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Uganda | Minimum            
Investments in Affiliates            
Percentage of ownership     23.50%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Uganda | Maximum            
Investments in Affiliates            
Percentage of ownership     49.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Zambia            
Investments in Affiliates            
Percentage of ownership     49.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Colombia | Minimum            
Investments in Affiliates            
Percentage of ownership     40.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Colombia | Maximum            
Investments in Affiliates            
Percentage of ownership     42.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Ecuador | Minimum            
Investments in Affiliates            
Percentage of ownership     25.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Ecuador | Maximum            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Guyana            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Peru            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Jamaica            
Investments in Affiliates            
Percentage of ownership     50.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Haiti            
Investments in Affiliates            
Percentage of ownership     23.33%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Turkey            
Investments in Affiliates            
Percentage of ownership     25.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | Canada            
Investments in Affiliates            
Percentage of ownership     45.00%      
Commodity Trading and Milling | Businesses conducting flour, maize and feed milling and poultry production and processing | United States            
Investments in Affiliates            
Percentage of ownership     20.00%      
Marine            
Investments in Affiliates            
Investments in and advances to affiliates     $ 36 33    
Income (loss) from affiliates     4 6 2  
Carrying value of investment in affiliates over (under) entity's share of affiliates' book value     (40)      
Financial information            
Total assets     882 749    
Marine | Equity method investment in non-consolidated affiliates            
Financial information            
Net sales     82 74 66  
Net earnings (loss)     21 27 8  
Total assets     256 245 253  
Total liabilities     61 88 98  
Total equity     $ 195 157 155  
Marine | Cargo terminal business | Minimum            
Investments in Affiliates            
Percentage of ownership     16.87%      
Marine | Cargo terminal business | Maximum            
Investments in Affiliates            
Percentage of ownership     21.02%      
Sugar and Alcohol            
Investments in Affiliates            
Investments in and advances to affiliates     $ 2 4    
Income (loss) from affiliates         1  
Financial information            
Total assets     165 155    
Sugar and Alcohol | Equity method investment in non-consolidated affiliates            
Financial information            
Net sales     8 6 7  
Net earnings (loss)         1  
Total assets     6 8 14  
Total liabilities     2 1 2  
Total equity     $ 4 7 12  
Sugar and Alcohol | Sugar related businesses | Argentina            
Investments in Affiliates            
Percentage of ownership     50.00%      
Number of businesses | item     2      
Power            
Investments in Affiliates            
Investments in and advances to affiliates     $ 3 3    
Financial information            
Total assets     342 359    
Power | Equity method investment in non-consolidated affiliates            
Financial information            
Net sales     1 1 1  
Net earnings (loss)       1    
Total assets     9 12 12  
Total liabilities     3 5 6  
Total equity     $ 6 7 6  
Power | Energy related businesses | Dominican Republic            
Investments in Affiliates            
Number of businesses | item     2      
Power | Energy related business one | Dominican Republic            
Investments in Affiliates            
Percentage of ownership     45.00%      
Power | Energy related business two | Dominican Republic            
Investments in Affiliates            
Percentage of ownership     50.00%      
Turkey            
Investments in Affiliates            
Investments in and advances to affiliates     $ 350 245    
Income (loss) from affiliates     103 (20) (10)  
Financial information            
Total assets     350 245    
Turkey | Equity method investment in non-consolidated affiliates            
Financial information            
Net sales     2,050 1,792 1,675  
Operating income (loss)     202 (34) (6)  
Net earnings (loss)     196 (38) (20)  
Total assets     1,081 991 993  
Total liabilities     406 517 481  
Total equity     675 $ 474 $ 512  
Turkey | Butterball, LLC            
Investments in Affiliates            
Investee's intangible assets for trade name     111      
Investee's intangible assets for goodwill     $ 61      
Turkey | Butterball, LLC | Detachable warrants            
Investments in Affiliates            
Additional equity interest that can be acquired upon exercise of warrants (as a percent)     5.00%      
Economic interest (as a percent)     52.50%      
Percentage of the Butterball's earnings recorded as income from affiliates in the Consolidated Statements of Comprehensive Income (as a percent)     52.50%      
Disposed of by sale | Commodity Trading and Milling | Protein and commodity trading company            
Investments in Affiliates            
Percentage of ownership interest sold   20.00%        
Proceeds from the sale of non-consolidated affiliates   $ 12