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REPORTING SEGMENTS Reporting Segments (Tables)
 12 Months Ended
Apr. 28, 2013
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following tables present information about the results of operations and the assets of our reportable segments for the fiscal years presented. The information contains certain allocations of expenses that we deem reasonable and appropriate for the evaluation of results of operations. We do not allocate income taxes to segments. Segment assets exclude intersegment account balances as we believe their inclusion would be misleading or not meaningful. We believe all intersegment sales are at prices that approximate market. 
 
 
Fiscal Years
 
 
2013
 
2012
 
2011
 
 
(in millions)
Segment Profit Information
 
 
 
 
 
 
Sales:
 
 
 
 
 
 
Segment sales—
 
 
 
 
 
 
Pork
 
$
11,076.1

 
$
11,093.0

 
$
10,263.9

Hog Production
 
3,135.1

 
3,052.6

 
2,705.1

International
 
1,468.5

 
1,466.7

 
1,340.7

Other
 
—

 
—

 
74.7

Total segment sales
 
15,679.7

 
15,612.3

 
14,384.4

Intersegment sales—
 
 
 
 
 
 
Pork
 
(41.4
)
 
(37.1
)
 
(30.5
)
Hog Production
 
(2,380.1
)
 
(2,444.6
)
 
(2,113.0
)
International
 
(37.1
)
 
(36.3
)
 
(38.2
)
Total intersegment sales
 
(2,458.6
)
 
(2,518.0
)
 
(2,181.7
)
Consolidated sales
 
$
13,221.1

 
$
13,094.3

 
$
12,202.7

 
 
 
 
 
 
 
Depreciation and amortization:
 
 

 
 

 
 

Pork
 
$
136.1

 
$
127.8

 
$
125.5

Hog Production
 
63.8

 
71.9

 
65.7

International
 
35.8

 
39.9

 
38.1

Other
 
—

 
—

 
0.1

Corporate
 
4.2

 
3.2

 
2.5

Consolidated depreciation and amortization
 
$
239.9

 
$
242.8

 
$
231.9

 
 
 
 
 
 
 
Interest expense (income):
 
 

 
 

 
 

Pork
 
$
(5.5
)
 
$
28.7

 
$
42.4

Hog Production
 
167.0

 
131.8

 
124.5

International
 
28.2

 
29.8

 
28.2

Other
 
—

 
—

 
4.2

Corporate
 
(21.0
)
 
(13.6
)
 
46.1

Consolidated interest expense
 
$
168.7

 
$
176.7

 
$
245.4

 
 
 
 
 
 
 
(Income) Loss from equity method investments
 
 

 
 

 
 

Pork
 
$
(1.5
)
 
$
(2.7
)
 
$
(2.0
)
Hog Production
 
0.1

 
0.3

 
(0.4
)
International
 
(13.6
)
 
12.3

 
(46.5
)
Other
 
—

 
—

 
(1.2
)
Consolidated (income) loss from equity method investments
 
$
(15.0
)
 
$
9.9

 
$
(50.1
)
 
 
 
 
 
 
 
Operating profit:
 
 

 
 

 
 

Pork
 
$
631.6

 
$
623.7

 
$
753.4

Hog Production
 
(119.1
)
 
166.1

 
224.4

International
 
108.2

 
42.8

 
115.9

Other
 
—

 
—

 
(2.4
)
Corporate
 
(101.4
)
 
(110.0
)
 
3.7

Consolidated operating profit
 
$
519.3

 
$
722.6

 
$
1,095.0

 
 
April 28,
2013
 
April 29,
2012
 
May 1,
2011
 
 
(in millions)
Segment Asset Information
 
 
 
 
 
 
Total assets:
 
 
 
 
 
 
Pork
 
$
2,291.3

 
$
2,245.6

 
$
2,620.2

Hog Production
 
2,299.2

 
2,145.4

 
2,074.2

International
 
1,703.1

 
1,651.4

 
1,902.3

Corporate
 
1,422.8

 
1,379.8

 
1,015.1

Consolidated total assets
 
$
7,716.4

 
$
7,422.2

 
$
7,611.8

 
 
 
 
 
 
 
Investments:
 
 

 
 

 
 

Pork
 
$
18.9

 
$
18.6

 
$
17.4

Hog Production
 
3.1

 
2.6

 
2.7

International
 
510.2

 
501.2

 
562.1

Corporate
 
0.2

 
0.2

 
0.3

Consolidated investments
 
$
532.4

 
$
522.6

 
$
582.5

 
 
 
 
 
 
 
Capital expenditures:
 
 

 
 

 
 

Pork
 
$
156.9

 
$
143.5

 
$
81.3

Hog Production
 
90.0

 
89.4

 
68.6

International
 
24.8

 
26.5

 
26.8

Corporate
 
6.3

 
31.3

 
0.1

Consolidated capital expenditures
 
$
278.0

 
$
290.7

 
$
176.8
Schedule of Goodwill [Table Text Block]
The following table shows the change in the carrying amount of goodwill by reportable segment: 
 
 
Pork
 
International
 
Hog Production
 
Total
 
 
(in millions)
Balance, May 1, 2011
 
$
216.1

 
$
157.2

 
$
420.0

 
$
793.3

Other goodwill adjustments (1)
 
(0.4
)
 
(24.7
)
 
—

 
(25.1
)
Balance, April 29, 2012
 
215.7

 
132.5

 
420.0

 
768.2

Acquisition (2)
 
16.4

 
—

 
—

 
16.4

Other goodwill adjustments (1)
 
(0.3
)
 
(1.9
)
 
—

 
(2.2
)
Balance, April 28, 2013
 
$
231.8

 
$
130.6

 
$
420.0

 
$
782.4

——————————————
(1) 
Other goodwill adjustments primarily include the effects of foreign currency translation.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

The following table presents our consolidated sales and long-lived assets attributed to operations by geographic area for the fiscal years ended April 28, 2013, April 29, 2012 and May 1, 2011:
 
 
Fiscal Years
 
 
2013
 
2012
 
2011
 
 
(in millions)
Sales:
 
 
 
 
 
 
U.S.
 
$
11,789.7

 
$
11,663.9

 
$
10,900.2

International
 
1,431.4

 
1,430.4

 
1,302.5

Total sales
 
$
13,221.1

 
$
13,094.3

 
$
12,202.7

 
 
 
 
 
 
 
 
 
April 28,
2013
 
April 29,
2012
 
May 1,
2011
 
(in millions)
Long-lived assets:
 
 

 
 

 
 

U.S.
 
$
3,032.9

 
$
2,969.1

 
$
2,905.7

International
 
1,131.7

 
1,154.1

 
1,368.2

Total long-lived assets
 
$
4,164.6

 
$
4,123.2

 
$
4,273.9
Pork Segment [Member]
  
Segment Reporting Information [Line Items]  
Schedule of Segment Revenue by Product [Table Text Block]
The following table shows the percentages of Pork segment revenues derived from packaged meats and fresh pork for the fiscal years indicated. 
 
 
Fiscal Years
 
 
2013
 
2012
 
2011
Packaged meats
 
56
%
 
54
%
 
56
%
Fresh pork (1)
 
44

 
46

 
44

 
 
100
%
 
100
%
 
100
%
——————————————
(1) 
Includes by-products and rendering.
Hog Production Segment [Member]
  
Segment Reporting Information [Line Items]  
Schedule of Segment Revenue by Product [Table Text Block]
The following table shows the percentages of Hog Production segment revenues derived from hogs sold internally and externally, and other products for the fiscal years indicated. 
 
 
Fiscal Years
 
 
2013
 
2012
 
2011
Internal hog sales
 
76
%
 
80
%
 
78
%
External hog sales
 
14

 
17

 
19

Other products (1)
 
10

 
3

 
3

 
 
100
%
 
100
%
 
100
%
——————————————
(1) 
Consists primarily of grains, feed and gains (losses) on derivatives.
International Segment [Member]
  
Segment Reporting Information [Line Items]  
Schedule of Segment Revenue by Product [Table Text Block]
The following table shows the percentages of International segment revenues derived from packaged meats, fresh meats and other products for the fiscal years indicated. 
 
 
Fiscal Years
 
 
2013
 
2012
 
2011
Packaged meats
 
48
%
 
47
%
 
47
%
Fresh meats
 
43

 
43

 
42

Other products (1)
 
9

 
10

 
11

 
 
100
%
 
100
%
 
100
%
——————————————
(1) 
Includes external hog sales, feed, feathers, by-products and rendering.