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Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies

Schedule of non-cancelable purchase commitments and commitments under other agreements

Purchase commitments		Years ended December 31,
(Thousands of dollars)		2012			2013			2014			2015			2016			Thereafter
Hog procurement contracts		$	166,904		$	118,934		$	112,769		$	109,784		$	90,300		$	73,580
Grain and feed ingredients		149,053			910			–			–			–			–
Grain purchase contracts for resale		409,011			–			–			–			–			–
Construction of new power barge		18,071			–			–			–			–			–
Fuel purchase contract		37,020			–			–			–			–			–
Equipment purchases and facility improvements		18,537			–			–			–			–			–
Other purchase commitments		28,538			2,597			71			35			34			161
Total firm purchase commitments		827,134			122,441			112,840			109,819			90,334			73,741
Vessel, time and voyage-charter
Arrangements		101,087			48,093			28,262			26,098			18,849			98,961
Contract grower finishing agreements		11,673			10,470			9,295			8,713			9,019			16,919
Other operating lease payments		17,920			15,370			13,893			13,345			13,215			187,766
Total unrecognized firm commitments		$	957,814		$	196,374		$	164,290		$	157,975		$	131,417		$	377,387

Tabular disclosure of unconditional purchase obligations that are not recognized as a liability on the balance sheet, including the nature and significant terms of an unconditional purchase obligation; the amount of the fixed and determinable portion of the obligation as of the date of the latest balance sheet presented in the aggregate and, if determinable, for each of the five succeeding fiscal years; the nature of any variable components of the obligation; the amount purchased under the obligation (for example, the take-or-pay or throughput contract) for the reporting period; and may include the amount of imputed interest necessary to reduce the obligation to present value.

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