XML 23 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 04, 2015
Jun. 28, 2014
Jul. 04, 2015
Jun. 28, 2014
Net sales:        
Products (includes sales to affiliates of $212,464, $179,031, $424,170 and $375,017) $ 1,148,164 $ 1,417,116 $ 2,325,091 $ 2,630,871
Service revenues 251,846 224,127 500,955 436,160
Other 27,876 53,348 54,198 107,196
Total net sales 1,427,886 1,694,591 2,880,244 3,174,227
Cost of sales and operating expenses:        
Products 1,081,425 1,249,249 2,200,088 2,354,832
Services 224,298 202,482 443,316 396,989
Other 22,634 45,433 44,147 99,391
Total cost of sales and operating expenses 1,328,357 1,497,164 2,687,551 2,851,212
Gross income 99,529 197,427 192,693 323,015
Selling, general and administrative expenses 67,867 63,088 133,192 123,473
Operating income 31,662 134,339 59,501 199,542
Other income (expense):        
Interest expense (3,760) (3,856) (8,290) (8,676)
Interest income 2,596 1,724 5,925 8,804
Interest income from affiliates 7,179 6,880 14,239 13,236
Income from affiliates 12,257 8,120 23,036 15,401
Other investment income (loss), net (2,736) 2,787 3,812 3,360
Foreign currency gains (losses), net 363 (2,994) 1,775 (8,687)
Miscellaneous, net 3,517 (2,393) (910) (2,253)
Total other income, net 19,416 10,268 39,587 21,185
Earnings before income taxes 51,078 144,607 99,088 220,727
Income tax expense (18,968) (49,851) (33,850) (76,885)
Net earnings 32,110 94,756 65,238 143,842
Less: Net income attributable to noncontrolling interests (459) (762) (685) (1,045)
Net earnings attributable to Seaboard $ 31,651 $ 93,994 $ 64,553 $ 142,797
Earnings per common share (in dollars per share) $ 27.04 $ 79.28 $ 55.15 $ 120.34
Other comprehensive income (loss), net of income tax benefit of $682, $725, $824 and $10,388:        
Foreign currency translation adjustment $ (8,836) $ (2,790) $ (14,794) $ (29,565)
Unrealized gain (loss) on investments (3) 498 674 1,024
Unrealized gain (loss) on cash flow hedges   (275)   86
Unrecognized pension cost 945 320 2,227 640
Other comprehensive loss, net of tax (7,894) (2,247) (11,893) (27,815)
Comprehensive income 24,216 92,509 53,345 116,027
Less: Comprehensive income attributable to noncontrolling interests (451) (765) (754) (1,044)
Comprehensive income attributable to Seaboard $ 23,765 $ 91,744 $ 52,591 $ 114,983
Average number of shares outstanding (in shares) 1,170,550 1,185,633 1,170,550 1,186,640