XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Sep. 30, 2023
Oct. 01, 2022
Net sales:        
Total net sales $ 2,388 $ 2,895 $ 7,280 $ 8,577
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 2,223 2,648 6,985 7,813
Gross income 165 247 295 764
Selling, general and administrative expenses 98 92 295 271
Operating income (loss) 67 155   493
Other income (expense):        
Interest expense (9) (13) (41) (23)
Interest income 18 9 45 21
Income from affiliates 23 48 74 94
Other investment income (loss), net (7) (64) 43 (291)
Foreign currency gains, net   9 3 21
Miscellaneous, net 1 1 4 11
Total other income (expense), net 26 (10) 128 (167)
Earnings before income taxes 93 145 128 326
Income tax benefit 33 1 34 32
Net earnings 126 146 162 358
Less: Net earnings attributable to noncontrolling interests 0 0 0 (1)
Net earnings attributable to Seaboard $ 126 $ 146 $ 162 $ 357
Earnings per common share (in dollars per share) $ 108.55 $ 125.78 $ 139.56 $ 307.55
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 $ (3) $ (15) $ 10 $ (18)
Unrecognized pension cost   3 4 4
Other comprehensive income (loss), net of tax (3) (12) 14 (14)
Comprehensive income 123 134 176 344
Less: Comprehensive income attributable to noncontrolling interests 0 0 0 (1)
Comprehensive income attributable to Seaboard 123 134 176 343
Products        
Net sales:        
Total net sales 1,966 2,299 5,907 6,901
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 1,905 2,254 5,981 6,677
Services        
Net sales:        
Total net sales 349 541 1,185 1,556
Cost of sales and operating expenses:        
Total cost of sales and operating expenses 276 351 882 1,032
Other        
Net sales:        
Total net sales 73 55 188 120
Cost of sales and operating expenses:        
Total cost of sales and operating expenses $ 42 $ 43 $ 122 $ 104