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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Net sales:        
Total net sales $ 2,393 $ 2,973 $ 4,892 $ 5,682
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 2,297 2,692 4,762 5,165
Gross income 96 281 130 517
Selling, general and administrative expenses 100 89 197 179
Operating income (loss) (4) 192 (67) 338
Other income (expense):        
Interest expense (20) (12) (32) (10)
Interest income 14 7 27 12
Income from affiliates 25 23 51 46
Other investment income (loss), net 23 (162) 50 (227)
Foreign currency gains, net 7 12 3 12
Miscellaneous, net 3 2 3 10
Total other income (expense), net 52 (130) 102 (157)
Earnings before income taxes 48 62 35 181
Income tax benefit 4 46 1 31
Net earnings 52 108 36 212
Less: Net earnings attributable to noncontrolling interests 0 0 0 (1)
Net earnings attributable to Seaboard $ 52 $ 108 $ 36 $ 211
Earnings per common share (in dollars per share) $ 44.80 $ 92.53 $ 31.01 $ 181.81
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, $0, $0 and $0:        
Foreign currency translation adjustment $ 1 $ (2) $ 13 $ (3)
Unrecognized pension cost 2 1 4 1
Other comprehensive income (loss), net of tax 3 (1) 17 (2)
Comprehensive income 55 107 53 210
Less: Comprehensive income attributable to noncontrolling interests 0 0 0 (1)
Comprehensive income attributable to Seaboard 55 107 53 209
Products        
Net sales:        
Total net sales 1,957 2,388 3,941 4,602
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 1,982 2,302 4,076 4,423
Services        
Net sales:        
Total net sales 373 538 836 1,015
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 275 350 606 681
Other        
Net sales:        
Total net sales 63 47 115 65
Cost of sales and operating expenses:        
Total cost of sales and operating expenses $ 40 $ 40 $ 80 $ 61