Document and Entity Information

6 Months Ended

Mar. 30, 2013

Entity Registrant Name

TYSON FOODS INC

Entity Central Index Key

0000100493

Current Fiscal Year End Date

--09-28

Entity Filer Category

Large Accelerated Filer

Document Type

10-Q

Document Period End Date

Mar. 30, 2013

Document Fiscal Year Focus

2013

Document Fiscal Period Focus

Q2

Amendment Flag

false

Class A [Member]

Entity Common Stock, Shares Outstanding

284,826,453

Class B [Member]

Entity Common Stock, Shares Outstanding

70,015,755

Consolidated Condensed Statements Of Income (USD $)

In Millions, except Per Share data, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Sales

$ 8,419

$ 8,268

$ 16,821

$ 16,597

Cost of Sales

8,011

7,733

15,876

15,569

Gross Profit

408

535

945

1,028

Selling, General and Administrative

234

233

471

448

Operating Income

174

302

474

580

Other (Income) Expense:

Interest income

(2)

(5)

(3)

(7)

Interest expense

36

52

73

101

Other, net

(19)

(2)

(19)

(14)

Total Other (Income) Expense

15 ¹

45

51 ¹

80

Income before Income Taxes

159

257

423

500

Income Tax Expense

53

91

149

178

Net Income

106

166

274

322

Less: Net Income Attributable to Noncontrolling Interest

11

0

6

0

Net Income Attributable to Tyson

$ 95

$ 166

$ 268

$ 322

Weighted Average Shares Outstanding:

Diluted, Shares

366

373

364

374

Net Income Per Share Attributable to Tyson:

Diluted (USD per share)

$ 0.26

$ 0.44

$ 0.74

$ 0.86

Class A [Member]

Weighted Average Shares Outstanding:

Basic, Shares

283

294

284

295

Net Income Per Share Attributable to Tyson:

Basic (USD per share)

$ 0.27

$ 0.47

$ 0.77

$ 0.90

Dividends Declared Per Share:

Dividends Declared (USD per share)

$ 0.050

$ 0.040

$ 0.210

$ 0.080

Class B [Member]

Weighted Average Shares Outstanding:

Basic, Shares

70

Net Income Per Share Attributable to Tyson:

Basic (USD per share)

$ 0.25

$ 0.42

$ 0.70

$ 0.81

Dividends Declared Per Share:

Dividends Declared (USD per share)

$ 0.045

$ 0.036

$ 0.189

$ 0.072

[1] Includes $19 million related to the recognized currency translation adjustment gain

Consolidated Condensed Statements of Comprehensive Income (USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Statement of Other Comprehensive Income [Abstract]

Net Income

$ 106

$ 166

$ 274

$ 322

Other Comprehensive Income (Loss), Net of Taxes:

Derivatives accounted for as cash flow hedges

(5)

7

(14)

6

Investments

(1)

0

(3)

1

Currency translation

(15)

27

(16)

30

Postretirement benefits

2

1

3

2

Total Other Comprehensive Income (Loss), Net of Taxes

(19)

35

(30)

39

Comprehensive Income

87

201

244

361

Less: Comprehensive Income Attributable to Noncontrolling Interest

11

0

6

0

Comprehensive Income Attributable to Tyson

$ 76

$ 201

$ 238

$ 361

Consolidated Condensed Balance Sheets (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Assets

Cash and cash equivalents

$ 762

$ 1,071

Accounts receivable, net

1,428

1,378

Inventories

2,921

2,809

Other current assets

188

145

Total Current Assets

5,299

5,403

Net Property, Plant and Equipment

4,002

4,022

Goodwill

1,892

1,891

Intangible Assets

115

129

Other Assets

481

451

Total Assets

11,789

11,896

Liabilities and Shareholders' Equity

Current debt

512

515

Accounts payable

1,265

1,372

Other current liabilities

955

943

Total Current Liabilities

2,732

2,830

Long-Term Debt

1,904

1,917

Deferred Income Taxes

498

558

Other Liabilities

541

549

Commitments and Contingencies (Note 13)

Shareholders' Equity:

Capital in excess of par value

2,275

2,278

Retained earnings

4,522

4,327

Accumulated other comprehensive loss

(93)

(63)

Treasury stock, at cost - 37 million shares at March 30, 2013, and 33 million shares at September 29, 2012

(667)

(569)

Total Tyson Shareholders' Equity

6,076

6,012

Noncontrolling Interest

38

30

Total Shareholders' Equity

6,114

6,042

Total Liabilities and Shareholders' Equity

11,789

11,896

Class A [Member]

Shareholders' Equity:

Common stock

32

Convertible Class B [Member]

Shareholders' Equity:

Common stock

$ 7

Condensed Consolidated Balance Sheets (Parentheticals) (USD $)

In Millions, except Per Share data, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Treasury Stock, shares

37

33

Class A [Member]

Common stock, par value

$ 0.10

Common stock, shares authorized

900

Common stock, shares issued

322

Convertible Class B [Member]

Common stock, par value

$ 0.10

Common stock, shares authorized

900

Common stock, shares issued

70

Consolidated Condensed Statements Of Cash Flows (USD $)

In Millions, unless otherwise specified

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Cash Flows From Operating Activities:

Net Income

$ 274

$ 322

Depreciation and amortization

259

245

Deferred income taxes

(24)

53

Other, net

57

41

Net changes in working capital

(336)

(207)

Cash Provided by Operating Activities

230

454

Cash Flows From Investing Activities:

Additions to property, plant and equipment

(290)

(344)

Purchases of marketable securities

(79)

(25)

Proceeds from sale of marketable securities

16

13

Other, net

20

17

Cash Used for Investing Activities

(333)

(339)

Cash Flows From Financing Activities:

Payments on debt

(55)

(41)

Net proceeds from borrowings

37

56

Purchases of Tyson Class A common stock

(188)

(128)

Dividends

(70)

(29)

Other, net

71

29

Cash Used for Financing Activities

(205)

(113)

Effect of Exchange Rate Change on Cash

(1)

5

Increase (Decrease) in Cash and Cash Equivalents

(309)

7

Cash and Cash Equivalents at Beginning of Year

1,071

716

Cash and Cash Equivalents at End of Period

$ 762

$ 723

Accounting Policies

ACCOUNTING POLICIES

BASIS OF PRESENTATION

The consolidated condensed financial statements have been prepared by Tyson Foods, Inc. (“Tyson,” “the Company,” “we,” “us” or “our”). Certain information and accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations. Although we believe the disclosures contained herein are adequate to make the information presented not misleading, these consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our annual report on Form 10-K for the fiscal year ended September 29, 2012. Preparation of consolidated condensed financial statements requires us to make estimates and assumptions. These estimates and assumptions affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

We believe the accompanying consolidated condensed financial statements contain all adjustments, which are of a normal recurring nature, necessary to state fairly our financial position as of March 30, 2013, and the results of operations for the three and six months ended March 30, 2013, and March 31, 2012. Results of operations and cash flows for the periods presented are not necessarily indicative of results to be expected for the full year.

CONSOLIDATION

The consolidated condensed financial statements include the accounts of all wholly-owned subsidiaries, as well as majority-owned subsidiaries over which we exercise control and, when applicable, entities for which we have a controlling financial interest or variable interest entities for which we are the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in consolidation.

VARIABLE INTEREST ENTITIES

We have an investment in a joint venture, Dynamic Fuels LLC (Dynamic Fuels), in which we have a 50 percent ownership interest. Dynamic Fuels qualifies as a variable interest entity for which we consolidate as we are the primary beneficiary. At March 30, 2013, Dynamic Fuels had $169 million of total assets, of which $145 million was net property, plant and equipment, and $110 million of total liabilities, of which $100 million was long-term debt. At September 29, 2012, Dynamic Fuels had $177 million of total assets, of which $146 million was net property, plant and equipment, and $124 million of total liabilities, of which $100 million was long-term debt.

SHARE REPURCHASES

A summary of cumulative share repurchases of our Class A common stock is as follows (in millions):



	Three Months Ended						Six Months Ended
	March 30, 2013			March 31, 2012			March 30, 2013			March 31, 2012
	Shares	Dollars		Shares	Dollars		Shares	Dollars		Shares	Dollars
Shares repurchased:
Under share repurchase program	2.1	$	50	3.6	$	70	7.2	$	150	5.4	$	105
To fund certain obligations under equity compensation plans	1.1	23		0.4	8		1.9	38		1.2	23
Total share repurchases	3.2	$	73	4.0	$	78	9.1	$	188	6.6	$	128

As of March 30, 2013, 28 million shares remained available for repurchase under our share repurchase program. The share repurchase program has no fixed or scheduled termination date and the timing and extent to which we repurchase shares will depend upon, among other things, our working capital needs, market conditions, liquidity targets, our debt obligations and regulatory requirements. In addition to the share repurchase program, we purchase shares on the open market to fund certain obligations under our equity compensation plans.

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

In June 2011, the FASB issued guidance regarding the presentation of comprehensive income. This guidance is effective for annual periods, and interim periods within those years, beginning after December 15, 2011. We adopted this guidance in the first quarter of fiscal year 2013. The adoption required a separate statement of comprehensive income and additional disclosures on our consolidated condensed financial statements.

In February 2013, the FASB issued guidance clarifying disclosures related to amounts reclassified out of accumulated other comprehensive income by component. We adopted this guidance in the second quarter of fiscal year 2013. The adoption required additional disclosures on our consolidated condensed financial statements.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In December 2011 and February 2013, the FASB issued guidance enhancing disclosures related to offsetting of certain assets and liabilities. This guidance is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. We do not expect the adoption will have a significant impact on our consolidated condensed financial statements.

Inventories

INVENTORIES

Processed products, livestock and supplies and other are valued at the lower of cost or market. Cost includes purchased raw materials, live purchase costs, growout costs (primarily feed, contract grower pay and catch and haul costs), labor and manufacturing and production overhead, which are related to the purchase and production of inventories. Total inventory consists of the following (in millions):



	March 30, 2013		September 29, 2012
Processed products:
Weighted-average method – chicken and prepared foods	$	823	$	754
First-in, first-out method – beef and pork	635		611
Livestock – first-in, first-out method	1,025		952
Supplies and other – weighted-average method	438		492
Total inventories	$	2,921	$	2,809

Property, Plant And Equipment

PROPERTY, PLANT AND EQUIPMENT

The major categories of property, plant and equipment and accumulated depreciation are as follows (in millions):



	March 30, 2013		September 29, 2012
Land	$	102	$	101
Buildings and leasehold improvements	2,916		2,868
Machinery and equipment	5,351		5,208
Land improvements and other	413		408
Buildings and equipment under construction	299		298
	9,081		8,883
Less accumulated depreciation	5,079		4,861
Net property, plant and equipment	$	4,002	$	4,022

Other Current Liabilities

OTHER CURRENT LIABILITIES

Other current liabilities are as follows (in millions):



	March 30, 2013		September 29, 2012
Accrued salaries, wages and benefits	$	297	$	382
Self-insurance reserves	279		274
Other	379		287
Total other current liabilities	$	955	$	943

Debt

DEBT

The major components of debt are as follows (in millions):



	March 30, 2013			September 29, 2012
Revolving credit facility	$	—		$	—
Senior notes:
3.25% Convertible senior notes due October 2013 (2013 Notes)	458			458
6.60% Senior notes due April 2016 (2016 Notes)	638			638
7.00% Notes due May 2018	120			120
4.50% Senior notes due June 2022 (2022 Notes)	1,000			1,000
7.00% Notes due January 2028	18			18
Discount on senior notes	(17		)	(28		)
GO Zone tax-exempt bonds due October 2033 (0.15% at 3/30/2013)	100			100
Other	99			126
Total debt	2,416			2,432
Less current debt	512			515
Total long-term debt	$	1,904		$	1,917

Revolving Credit Facility

We have a $1.0 billion revolving credit facility that supports short-term funding needs and letters of credit. The facility will mature and the commitments thereunder will terminate in August 2017. After reducing the amount available by outstanding letters of credit issued under this facility, the amount available for borrowing at March 30, 2013, was $958 million. At March 30, 2013, we had outstanding letters of credit issued under this facility totaling $42 million, none of which were drawn upon. We had an additional $150 million of bilateral letters of credit issued separately from the revolving credit facility, none of which were drawn upon. Our letters of credit are issued primarily in support of workers’ compensation insurance programs, derivative activities and Dynamic Fuels’ Gulf Opportunity Zone tax-exempt bonds.

This facility is unsecured. However, if at any time (the Collateral Trigger Date) we shall fail to have (a) a corporate rating from Moody's Investors Service, Inc. (Moody's) of "Ba1" or better, (b) a corporate rating from Standard & Poor's Ratings Services, a Standard & Poor's Financial Services LLC business (S&P), of "BB+" or better, or (c) a corporate rating from Fitch Ratings, a wholly owned subsidiary of Fimalac, S.A. (Fitch), of "BB+" or better, we, any subsidiary that has guaranteed any material indebtedness of the Company, and substantially all of our other domestic subsidiaries shall be required to secure the obligations under the credit agreement and related documents with a first-priority perfected security interest in our and such subsidiary's cash, deposit and securities accounts, accounts receivable and related assets, inventory and proceeds of any of the foregoing (the Collateral Requirement).

If on any date prior to any Collateral Trigger Date we shall have (a) a corporate rating from Moody's of "Baa2" or better, (b) a corporate rating from S&P of "BBB" or better and (c) a corporate rating from Fitch of "BBB" or better, in each case with stable or better outlook, then the Collateral Requirement will no longer be effective.

This facility is fully guaranteed by Tyson Fresh Meats, Inc (TFM Parent), our wholly owned subsidiary, until such date TFM Parent is released from all of its guarantees of other material indebtedness. If in the future any of our other subsidiaries shall guarantee any of our material indebtedness, such subsidiary shall also be required to guarantee the indebtedness, obligations and liabilities under this facility.

2013 Notes

In September 2008, we issued $458 million principal amount 3.25% convertible senior unsecured notes due October 15, 2013, with interest payable semi-annually in arrears on April 15 and October 15. At March 30, 2013, the conversion rate was 59.5626 shares of Class A stock per $1,000 principal amount of notes, which is equivalent to a conversion price of $16.79 per share of Class A stock. The conversion rate and conversion price of the 2013 Notes are subject to adjustments which include, among other events, making cash dividends or distributions to the holders of our Class A common stock during any quarterly fiscal period in excess of $0.04 per share. The 2013 Notes may be converted before the close of business on July 12, 2013, only under the following circumstances:

•

during any fiscal quarter after December 27, 2008, if the last reported sale price of our Class A stock for at least 20 trading days during a period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter is at least 130% of the applicable conversion price on each applicable trading day (which would currently require our shares to trade at or above $21.83); or


•	during the five business days after any 10 consecutive trading days (measurement period) in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our Class A stock and the applicable conversion rate on each such day; or


•	upon the occurrence of specified corporate events as defined in the supplemental indenture.

On and after July 15, 2013, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time, regardless of the foregoing circumstances. Upon conversion, we will deliver cash up to the aggregate principal amount of the 2013 Notes to be converted and shares of our Class A stock in respect of the remainder, if any, of our conversion obligation in excess of the aggregate principal amount of the 2013 Notes being converted. As of March 30, 2013, the conditions permitting early conversion of the 2013 Notes had been satisfied, and thus, the notes may be converted in our third quarter of fiscal 2013.

The 2013 Notes were originally accounted for as a combined instrument because the conversion feature did not meet the requirements to be accounted for separately as a derivative financial instrument. However, we adopted new accounting guidance in the first quarter of fiscal 2010 and applied it retrospectively to all periods presented. This new accounting guidance required us to separately account for the liability and equity conversion features. Upon retrospective adoption, our effective interest rate on the 2013 Notes was determined to be 8.26%, which resulted in the recognition of a $92 million discount to these notes with the offsetting after tax amount of $56 million recorded to capital in excess of par value. This discount is being accreted over the five-year term of the convertible notes at the effective interest rate.

In connection with the issuance of the 2013 Notes, we entered into separate convertible note hedge transactions with respect to our Class A stock to minimize the potential economic dilution upon conversion of the 2013 Notes. We also entered into separate warrant transactions. We recorded the purchase of the note hedge transactions as a reduction to capital in excess of par value, net of $36 million pertaining to the related deferred tax asset, and we recorded the proceeds of the warrant transactions as an increase to capital in excess of par value. Subsequent changes in fair value of these instruments are not recognized in the financial statements as long as the instruments continue to meet the criteria for equity classification.

We purchased call options in private transactions for $94 million that permit us to acquire up to approximately 27 million shares of our Class A stock at the current strike price of $16.79 per share, subject to adjustment. The call options allow us to acquire a number of shares of our Class A stock initially equal to the number of shares of Class A stock issuable to the holders of the 2013 Notes upon conversion. These call options will terminate upon the maturity of the 2013 Notes.

We sold warrants in private transactions for total proceeds of $44 million. The warrants permit the purchasers to acquire up to approximately 27 million shares of our Class A stock at the current exercise price of $22.17 per share, subject to adjustment. The warrants are exercisable on various dates from January 2014 through April 2014.

The maximum amount of shares that may be issued to satisfy the conversion of the 2013 Notes is limited to 35.9 million shares. However, the convertible note hedge and warrant transactions, in effect, increase the conversion price of the 2013 Notes from $16.79 per share to $22.17 per share, thus reducing the potential future economic dilution associated with conversion of the 2013 Notes. If our share price is below $22.17 upon exercise of the warrants, there is no economic net share impact. A 10% increase in our share price above the $22.17 warrant exercise price would result in the issuance of 2.5 million incremental shares. The 2013 Notes and the warrants could have a dilutive effect on our earnings per share to the extent the price of our Class A stock during a given measurement period exceeds the respective exercise prices of those instruments. The call options are excluded from the calculation of diluted earnings per share as their impact is anti-dilutive.

2016 Notes

The 2016 Notes carry an interest rate at issuance of 6.60%, with an interest step up feature dependent on their credit rating. On February 11, 2013, S&P upgraded the credit rating of the 2016 Notes notes from "BBB-" to "BBB." This upgrade did not impact the interest rate on the 2016 Notes.

On June 7, 2012, Moody's upgraded the credit rating of the 2016 Notes from "Ba1" to "Baa3." This upgrade decreased the interest rate on the 2016 Notes from 6.85% to 6.60%, effective beginning with the six-month interest payment due October 1, 2012.

GO Zone Tax-Exempt Bonds

In October 2008, Dynamic Fuels received $100 million in proceeds from the sale of Gulf Opportunity Zone tax-exempt bonds made available by the federal government to the regions affected by Hurricanes Katrina and Rita in 2005. These floating rate bonds are due October 1, 2033. In November 2008, we entered into an interest rate swap related to these bonds to mitigate our interest rate risk on a portion of the bonds for five years. We also issued a letter of credit as a guarantee for the entire bond issuance. If any amounts are disbursed related to this guarantee, we would seek recovery of 50% (up to $50 million) from Syntroleum Corporation in accordance with our 2008 warrant agreement with Syntroleum Corporation.

Debt Covenants

Our revolving credit facility contains affirmative and negative covenants that, among other things, may limit or restrict our ability to: create liens and encumbrances; incur debt; merge, dissolve, liquidate or consolidate; dispose of or transfer assets; change the nature of our business; engage in certain transactions with affiliates; and enter into sale/leaseback or hedging transactions, in each case, subject to certain qualifications and exceptions. In addition, we are required to maintain minimum interest expense coverage and maximum debt-to-capitalization ratios.

Our 2022 Notes also contain affirmative and negative covenants that, among other things, may limit or restrict our ability to: create liens; engage in certain sale/leaseback transactions; and engage in certain consolidations, mergers and sales of assets.

We were in compliance with all debt covenants at March 30, 2013.

Income Taxes

INCOME TAXES

The effective tax rate was 33.2% and 35.3% for the second quarter of fiscal 2013 and 2012, respectively. The effective tax rate was 35.1% and 35.5% for the six months of fiscal 2013 and 2012, respectively. The effective tax rate for the second quarter and six months of fiscal 2013 was impacted by such items as the domestic production deduction, state income taxes and losses in foreign jurisdictions and related valuation allowances. The effective tax rate for the second quarter of fiscal 2013 was also impacted by the non-taxable currency translation adjustment gain, the retroactive extension of tax credits and changes in tax reserves.

Unrecognized tax benefits were $157 million and $168 million at March 30, 2013, and September 29, 2012, respectively. The amount of unrecognized tax benefits, if recognized, that would impact our effective tax rate was $151 million and $154 million at March 30, 2013, and September 29, 2012, respectively.

We classify interest and penalties on unrecognized tax benefits as income tax expense. At March 30, 2013, and September 29, 2012, before tax benefits, we had $58 million and $64 million, respectively, of accrued interest and penalties on unrecognized tax benefits.

We are subject to income tax examinations for U.S. federal income taxes for fiscal years 2004 through 2011, for state and local income taxes for fiscal years 2003 through 2011 and for foreign income taxes for fiscal years 2002 through 2011. During the next twelve months, it is reasonably possible the amount of unrecognized tax benefits could change, but such changes are anticipated to be immaterial in amount.

Other Income And Charges

OTHER INCOME AND CHARGES

During the second quarter and six months of fiscal 2013, we recorded a $19 million currency translation adjustment gain recognized in conjunction with the receipt of proceeds constituting the final resolution of our investment in Canada, which was recorded in the Consolidated Condensed Statements of Income in Other, net.

During the six months of fiscal 2012, we recorded $8 million of equity earnings in joint ventures and $6 million in net foreign currency exchange gains, which were recorded in the Consolidated Condensed Statements of Income in Other, net.

Earnings Per Share

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data):



	Three Months Ended				Six Months Ended
	March 30, 2013		March 31, 2012		March 30, 2013		March 31, 2012
Numerator:
Net income	$	106	$	166	$	274	$	322
Less: Net income attributable to noncontrolling interest	11		—		6		—
Net income attributable to Tyson	95		166		268		322
Less Dividends Declared:
Class A	14		12		60		24
Class B	3		2		13		5
Undistributed earnings	$	78	$	152	$	195	$	293

Class A undistributed earnings	$	64	$	125	$	160	$	242
Class B undistributed earnings	14		27		35		51
Total undistributed earnings	$	78	$	152	$	195	$	293
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares	283		294		284		295
Class B weighted average shares, and shares under the if-converted method for diluted earnings per share	70		70		70		70
Effect of dilutive securities:
Stock options and restricted stock	5		5		5		5
Convertible 2013 Notes and Warrants	8		4		5		4
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions	366		373		364		374
Net Income Per Share Attributable to Tyson:
Class A Basic	$	0.27	$	0.47	$	0.77	$	0.90
Class B Basic	$	0.25	$	0.42	$	0.70	$	0.81
Diluted	$	0.26	$	0.44	$	0.74	$	0.86

Approximately 4 million and 6 million of our stock-based compensation shares were antidilutive for the three and six months ended March 30, 2013, respectively. Approximately 4 million of our stock-based compensation shares were antidilutive for both the three and six months ended March 31, 2012. These shares were not included in the dilutive earnings per share calculation.

We have two classes of capital stock, Class A stock and Class B stock. Cash dividends cannot be paid to holders of Class B stock unless they are simultaneously paid to holders of Class A stock. The per share amount of cash dividends paid to holders of Class B stock cannot exceed 90% of the cash dividends paid to holders of Class A stock.

We allocate undistributed earnings based upon a 1 to 0.9 ratio per share to Class A stock and Class B stock, respectively. We allocate undistributed earnings based on this ratio due to historical dividend patterns, voting control of Class B shareholders and contractual limitations of dividends to Class B stock.

Derivative Financial Instruments

DERIVATIVE FINANCIAL INSTRUMENTS

Our business operations give rise to certain market risk exposures mostly due to changes in commodity prices, foreign currency exchange rates and interest rates. We manage a portion of these risks through the use of derivative financial instruments, primarily futures and options, to reduce our exposure to commodity price risk, foreign currency risk and interest rate risk. Forward contracts on various commodities, including grains, livestock and energy, are primarily entered into to manage the price risk associated with forecasted purchases of these inputs used in our production processes. Foreign exchange forward contracts are entered into to manage the fluctuations in foreign currency exchange rates, primarily as a result of certain receivable and payable balances. We also periodically utilize interest rate swaps to manage interest rate risk associated with our variable-rate borrowings.

Our risk management programs are periodically reviewed by our Board of Directors’ Audit Committee. These programs are monitored by senior management and may be revised as market conditions dictate. Our current risk management programs utilize industry-standard models that take into account the implicit cost of hedging. Risks associated with our market risks and those created by derivative instruments and the fair values are strictly monitored, using Value-at-Risk and stress tests. Credit risks associated with our derivative contracts are not significant as we minimize counterparty concentrations, utilize margin accounts or letters of credit, and deal with credit-worthy counterparties. Additionally, our derivative contracts are mostly short-term in duration and we generally do not make use of credit-risk-related contingent features. No significant concentrations of credit risk existed at March 30, 2013.

We recognize all derivative instruments as either assets or liabilities at fair value in the Consolidated Condensed Balance Sheets, with the exception of normal purchases and normal sales expected to result in physical delivery. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, we designate the hedging instrument based upon the exposure being hedged (i.e., fair value hedge, cash flow hedge, or hedge of a net investment in a foreign operation). We qualify, or designate, a derivative financial instrument as a hedge when contract terms closely mirror those of the hedged item, providing a high degree of risk reduction and correlation. If a derivative instrument is accounted for as a hedge, depending on the nature of the hedge, changes in the fair value of the instrument either will be offset against the change in fair value of the hedged assets, liabilities or firm commitments through earnings, or be recognized in other comprehensive income (loss) (OCI) until the hedged item is recognized in earnings. The ineffective portion of an instrument’s change in fair value is recognized in earnings immediately. We designate certain forward contracts as follows:


•	Cash Flow Hedges – include certain commodity forward and option contracts of forecasted purchases (i.e., grains) and certain foreign exchange forward contracts.


•	Fair Value Hedges – include certain commodity forward contracts related to firm commitments (i.e., livestock).


•	Net Investment Hedges – include certain foreign currency forward contracts of permanently invested capital in certain foreign subsidiaries.

Cash flow hedges

Derivative instruments, such as futures and options, are designated as hedges against changes in the amount of future cash flows related to procurement of certain commodities utilized in our production processes. We do not purchase forward and option commodity contracts in excess of our physical consumption requirements and generally do not hedge forecasted transactions beyond 18 months. The objective of these hedges is to reduce the variability of cash flows associated with the forecasted purchase of those commodities. For the derivative instruments we designate and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses representing hedge ineffectiveness are recognized in earnings in the current period. Ineffectiveness related to our cash flow hedges was not significant for the three and six months ended March 30, 2013, and March 31, 2012.

We had the following aggregated notional values of outstanding forward and option contracts accounted for as cash flow hedges (in millions, except soy meal tons):



	Metric	March 30, 2013		September 29, 2012
Commodity:
Corn	Bushels	28		12
Soy meal	Tons	177,400		164,700
Foreign Currency	United States dollar	$	84	$	80

As of March 30, 2013, the net amounts expected to be reclassified into earnings within the next 12 months are pretax losses of $3 million related to grains and pretax losses of $4 million related to foreign currency. During the three and six months ended March 30, 2013, and March 31, 2012, we did not reclassify significant pretax gains/losses into earnings as a result of the discontinuance of cash flow hedges due to the probability the original forecasted transaction would not occur by the end of the originally specified time period or within the additional period of time allowed by generally accepted accounting principles.

The following table sets forth the pretax impact of cash flow hedge derivative instruments on the Consolidated Condensed Statements of Income (in millions):



	Gain/(Loss) Recognized in OCI On Derivatives						Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Three Months Ended							Three Months Ended
	March 30, 2013			March 31, 2012				March 30, 2013			March 31, 2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
Commodity contracts	$	(10	)	$	4		Cost of Sales	$	(7	)	$	(10	)
Foreign exchange contracts	(5		)	(2		)	Other Income/Expense	—			—
Total	$	(15	)	$	2			$	(7	)	$	(10	)

	Gain/(Loss) Recognized in OCI On Derivatives						Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Six Months Ended							Six Months Ended
	March 30, 2013			March 31, 2012				March 30, 2013			March 31, 2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
Commodity contracts	$	(23	)	$	6		Cost of Sales	$	(3	)	$	(16	)
Foreign exchange contracts	(5		)	(7		)	Other Income/Expense	(2		)	5
Total	$	(28	)	$	(1	)		$	(5	)	$	(11	)

Fair value hedges

We designate certain futures contracts as fair value hedges of firm commitments to purchase livestock for slaughter. Our objective of these hedges is to minimize the risk of changes in fair value created by fluctuations in commodity prices associated with fixed price livestock firm commitments. We had the following aggregated notional values of outstanding forward contracts entered into to hedge forecasted commodity purchases which are accounted for as a fair value hedge (in millions):



	Metric	March 30, 2013	September 29, 2012
Commodity:
Live Cattle	Pounds	157	232
Lean Hogs	Pounds	162	239

For these derivative instruments we designate and qualify as a fair value hedge, the gain or loss on the derivative, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in earnings in the same period. We include the gain or loss on the hedged items (i.e., livestock purchase firm commitments) in the same line item, Cost of Sales, as the offsetting gain or loss on the related livestock forward position.



											in millions
	Consolidated Condensed Statements of Income Classification	Three Months Ended						Six Months Ended
	Consolidated Condensed Statements of Income Classification	March 30, 2013			March 31, 2012			March 30, 2013			March 31, 2012
Gain/(Loss) on forwards	Cost of Sales	$	11		$	8		$	15		$	—
Gain/(Loss) on purchase contract	Cost of Sales	(11		)	(8		)	(15		)	—

Ineffectiveness related to our fair value hedges was not significant for the three and six months ended March 30, 2013, and March 31, 2012.

Foreign net investment hedges

We utilize forward foreign exchange contracts to protect the value of our net investments in certain foreign subsidiaries. For derivative instruments that are designated and qualify as a hedge of a net investment in a foreign currency, the gain or loss is reported in OCI as part of the cumulative translation adjustment to the extent it is effective, with the related amounts due to or from counterparties included in other liabilities or other assets. We utilize the forward-rate method of assessing hedge effectiveness. Any ineffective portions of net investment hedges are recognized in the Consolidated Condensed Statements of Income during the period of change. Ineffectiveness related to our foreign net investment hedges was not significant for the three and six months ended March 30, 2013, and March 31, 2012. At March 30, 2013, and September 29, 2012, we had $0 and $27 million, respectively, aggregate outstanding notional values related to our forward foreign currency contracts accounted for as foreign net investment hedges.

The following table sets forth the pretax impact of these derivative instruments on the Consolidated Condensed Statements of Income (in millions):



	Gain/(Loss) Recognized in OCI On Derivatives					Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Three Months Ended						Three Months Ended
	March 30, 2013		March 31, 2012				March 30, 2013			March 31, 2012
Net Investment Hedge – Derivatives designated as hedging instruments:
Foreign exchange contracts	$	—	$	(1	)	Other Income/Expense	$	(4	)	$	—

	Gain/(Loss) Recognized in OCI On Derivatives					Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Six Months Ended						Six Months Ended
	March 30, 2013		March 31, 2012				March 30, 2013			March 31, 2012
Net Investment Hedge – Derivatives designated as hedging instruments:
Foreign exchange contracts	$	—	$	(2	)	Other Income/Expense	$	(4	)	$	—

Undesignated positions

In addition to our designated positions, we also hold forward and option contracts for which we do not apply hedge accounting. These include certain derivative instruments related to commodities price risk, including grains, livestock, energy, foreign currency risk and interest rate risk. We mark these positions to fair value through earnings at each reporting date. We generally do not enter into undesignated positions beyond 18 months.

The objective of our undesignated grains, livestock and energy commodity positions is to reduce the variability of cash flows associated with the forecasted purchase of certain grains, energy and livestock inputs to our production processes. We also enter into certain forward sales of boxed beef and boxed pork and forward purchases of cattle and hogs at fixed prices. The fixed price sales contracts lock in the proceeds from a future sale and the fixed cattle and hog purchases lock in the cost. However, the cost of the livestock and the related boxed beef and boxed pork market prices at the time of the sale or purchase could vary from this fixed price. As we enter into fixed forward sales of boxed beef and boxed pork and forward purchases of cattle and hogs, we also enter into the appropriate number of livestock options and futures positions to mitigate a portion of this risk. Changes in market value of the open livestock options and futures positions are marked to market and reported in earnings at each reporting date, even though the economic impact of our fixed prices being above or below the market price is only realized at the time of sale or purchase. These positions generally do not qualify for hedge treatment due to location basis differences between the commodity exchanges and the actual locations when we purchase the commodities.

We have a foreign currency cash flow hedging program to hedge portions of forecasted transactions denominated in foreign currencies, primarily with forward and option contracts, to protect against the reduction in value of forecasted foreign currency cash flows. Our undesignated foreign currency positions generally would qualify for cash flow hedge accounting. However, to reduce earnings volatility, we normally will not elect hedge accounting treatment when the position provides an offset to the underlying related transaction that impacts current earnings.

The objective of our undesignated interest rate swap is to manage interest rate risk exposure on a floating-rate bond. Our interest rate swap agreement effectively modifies our exposure to interest rate risk by converting a portion of the floating-rate bond to a fixed rate basis for the first five years, thus reducing the impact of the interest-rate changes on future interest expense. This interest rate swap does not qualify for hedge treatment due to differences in the underlying bond and swap contract interest-rate indices.

We had the following aggregate outstanding notional values related to our undesignated positions (in millions, except soy meal tons):



	Metric	March 30, 2013		September 29, 2012
Commodity:
Corn	Bushels	15		19
Soy Meal	Tons	167,100		1,200
Soy Oil	Pounds	—		17
Live Cattle	Pounds	229		68
Lean Hogs	Pounds	6		108
Foreign Currency	United States dollars	$	139	$	165
Interest Rate	Average monthly notional debt	$	25	$	27

The following table sets forth the pretax impact of the undesignated derivative instruments on the Consolidated Condensed Statements of Income (in millions):



	Consolidated Condensed Statements of Income Classification	Gain/(Loss) Recognized in Earnings						Gain/(Loss) Recognized in Earnings
		Three Months Ended						Six Months Ended
		March 30, 2013			March 31, 2012			March 30, 2013			March 31, 2012
Derivatives not designated as hedging instruments:
Commodity contracts	Sales	$	(23	)	$	(6	)	$	(12	)	$	(9	)
Commodity contracts	Cost of Sales	—			29			(7		)	58
Foreign exchange contracts	Other Income/Expense	1			(3		)	2			—
Total		$	(22	)	$	20		$	(17	)	$	49

The following table sets forth the fair value of all derivative instruments outstanding in the Consolidated Condensed Balance Sheets (in millions):



	Fair Value
	March 30, 2013		September 29, 2012
Derivative Assets:
Derivatives designated as hedging instruments:
Commodity contracts	$	18	$	32
Derivatives not designated as hedging instruments:
Commodity contracts	20		21
Foreign exchange contracts	1		1
Total derivative assets – not designated	21		22

Total derivative assets	$	39	$	54
Derivative Liabilities:
Derivatives designated as hedging instruments:
Commodity contracts	$	9	$	6
Foreign exchange contracts	4		1
Total derivative liabilities – designated	13		7
Derivatives not designated as hedging instruments:
Commodity contracts	145		96
Foreign exchange contracts	2		2
Interest rate contracts	—		—
Total derivative liabilities – not designated	147		98

Total derivative liabilities	$	160	$	105

Our derivative assets and liabilities are presented in our Consolidated Condensed Balance Sheets on a net basis. We net derivative assets and liabilities, including cash collateral when a legally enforceable master netting arrangement exists between the counterparty to a derivative contract and us. See Note 10: Fair Value Measurements for a reconciliation to amounts reported in the Consolidated Condensed Balance Sheets in Other current assets and Other current liabilities.

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy contains three levels as follows:

Level 1 — Unadjusted quoted prices available in active markets for the identical assets or liabilities at the measurement date.

Level 2 — Other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including:


•	Quoted prices for similar assets or liabilities in active markets;


•	Quoted prices for identical or similar assets in non-active markets;


•	Inputs other than quoted prices that are observable for the asset or liability; and


•	Inputs derived principally from or corroborated by other observable market data.

Level 3 — Unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions):



March 30, 2013	Level 1		Level 2		Level 3		Netting (a)			Total
Assets:
Commodity Derivatives	$	—	$	38	$	—	$	(36	)	$	2
Foreign Exchange Forward Contracts	—		1		—		—			1
Available for Sale Securities:
Current	—		47		—		—			47
Non-current	3		24		65		—			92
Deferred Compensation Assets	22		185		—		—			207
Total Assets	$	25	$	295	$	65	$	(36	)	$	349
Liabilities:
Commodity Derivatives	$	—	$	154	$	—	$	(139	)	$	15
Foreign Exchange Forward Contracts	—		6		—		—			6
Interest Rate Swap	—		—		—		—			—
Total Liabilities	$	—	$	160	$	—	$	(139	)	$	21



September 29, 2012	Level 1		Level 2		Level 3		Netting (a)			Total
Assets:
Commodity Derivatives	$	—	$	53	$	—	$	(40	)	$	13
Foreign Exchange Forward Contracts	—		1		—		(1		)	—
Available for Sale Securities:
Current	—		3		—		—			3
Non-current	6		25		86		—			117
Deferred Compensation Assets	31		149		—		—			180
Total Assets	$	37	$	231	$	86	$	(41	)	$	313
Liabilities:
Commodity Derivatives	$	—	$	102	$	—	$	(100	)	$	2
Foreign Exchange Forward Contracts	—		3		—		—			3
Interest Rate Swap	—		—		—		—			—
Total Liabilities	$	—	$	105	$	—	$	(100	)	$	5

(a)

Our derivative assets and liabilities are presented in our Consolidated Condensed Balance Sheets on a net basis. We net derivative assets and liabilities, including cash collateral, when a legally enforceable master netting arrangement exists between the counterparty to a derivative contract and us. At March 30, 2013, and September 29, 2012, we had posted with various counterparties $103 million and $59 million, respectively, of cash collateral and held no cash collateral.

The following table provides a reconciliation between the beginning and ending balance of debt securities measured at fair value on a recurring basis in the table above that used significant unobservable inputs (Level 3) (in millions):



	Six Months Ended
	March 30, 2013			March 31, 2012
Balance at beginning of year	$	86		$	83
Total realized and unrealized gains (losses):
Included in earnings	1			1
Included in other comprehensive income (loss)	—			—
Purchases	9			12
Issuances	—			—
Settlements	(31		)	(17		)
Balance at end of period	$	65		$	79
Total gains (losses) for the six-month period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of period	$	—		$	—

The following methods and assumptions were used to estimate the fair value of each class of financial instrument:

Derivative Assets and Liabilities: Our derivatives, including commodities, foreign exchange forward contracts and an interest rate swap, primarily include exchange-traded and over-the-counter contracts which are further described in Note 9: Derivative Financial Instruments. We record our commodity derivatives at fair value using quoted market prices adjusted for credit and non-performance risk and internal models that use as their basis readily observable market inputs including current and forward commodity market prices. Our foreign exchange forward contracts are recorded at fair value based on quoted prices and spot and forward currency prices adjusted for credit and non-performance risk. Our interest rate swap is recorded at fair value based on quoted LIBOR swap rates adjusted for credit and non-performance risk. We classify these instruments in Level 2 when quoted market prices can be corroborated utilizing observable current and forward commodity market prices on active exchanges, observable market transactions of spot currency rates and forward currency prices or observable benchmark market rates at commonly quoted intervals.

Available for Sale Securities: Our investments in marketable debt securities are classified as available-for-sale and are reported at fair value based on pricing models and quoted market prices adjusted for credit and non-performance risk. Short-term investments with maturities of less than 12 months are included in Other current assets in the Consolidated Condensed Balance Sheets and primarily include certificates of deposit and commercial paper. All other marketable debt securities are included in Other Assets in the Consolidated Condensed Balance Sheets and have maturities ranging up to 35 years. We classify our investments in U.S. government, U.S. agency, certificates of deposit and commercial paper debt securities as Level 2 as fair value is generally estimated using discounted cash flow models that are primarily industry-standard models that consider various assumptions, including time value and yield curve as well as other readily available relevant economic measures. We classify certain corporate, asset-backed and other debt securities as Level 3 as there is limited activity or less observable inputs into valuation models, including current interest rates and estimated prepayment, default and recovery rates on the underlying portfolio or structured investment vehicle. We also classified privately held redeemable preferred stock securities as Level 3 as there was limited activity or less observable inputs into valuation models, including interest rates and credit worthiness of the underlying private issuer. As of March 30, 2013, the privately held redeemable preferred stock had been fully redeemed. Significant changes to assumptions or unobservable inputs in the valuation of our Level 3 instruments would not have a significant impact to our consolidated financial statements.

Additionally, as of March 30, 2013, we had eight million shares of Syntroleum Corporation common stock and 4.25 million warrants, which expire in June 2015, to purchase an equivalent amount of Syntroleum Corporation common stock at an average price of $2.87. We record the shares and warrants in Other Assets in the Consolidated Condensed Balance Sheets at fair value based on quoted market prices. We classify the shares as Level 1 as the fair value is based on unadjusted quoted prices available in active markets. We classify the warrants as Level 2 as fair value can be corroborated based on observable market data.

The following table sets forth our available for sale securities' amortized cost basis, fair value and unrealized gain (loss) by significant investment category:



(in millions)	March 30, 2013							September 29, 2012
	Amortized Cost Basis		Fair Value		Unrealized Gain/(Loss)			Amortized Cost Basis		Fair Value		Unrealized Gain/(Loss)
Available for Sale Securities:
Debt Securities:
U.S. Treasury and Agency	$	24	$	26	$	2		$	26	$	27	$	1
Certificates of Deposit and Commercial Paper	45		45		—			—		—		—
Corporate and Asset-Backed (a)	64		65		1			64		66		2
Redeemable Preferred Stock	—		—		—			20		20		—
Equity Securities:
Common Stock and Warrants	9		3		(6		)	9		7		(2		)


(a)	At March 30, 2013, and September 29, 2012, the amortized cost basis for Corporate and Asset-Backed debt securities had been reduced by accumulated other than temporary impairments of $1 million and $2 million, respectively.

Unrealized holding gains (losses), net of tax, are excluded from earnings and reported in OCI until the security is settled or sold. On a quarterly basis, we evaluate whether losses related to our available-for-sale securities are temporary in nature. Losses on equity securities are recognized in earnings if the decline in value is judged to be other than temporary. If losses related to our debt securities are determined to be other than temporary, the loss would be recognized in earnings if we intend, or more likely than not will be required, to sell the security prior to recovery. For debt securities in which we have the intent and ability to hold until maturity, losses determined to be other than temporary would remain in OCI, other than expected credit losses which are recognized in earnings. We consider many factors in determining whether a loss is temporary, including the length of time and extent to which the fair value has been below cost, the financial condition and near-term prospects of the issuer and our ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery. We recognized no other than temporary impairments in earnings for the three and six months ending March 30, 2013, and March 31, 2012. No other than temporary losses were deferred in OCI as of March 30, 2013, and September 29, 2012.

Deferred Compensation Assets: We maintain non-qualified deferred compensation plans for certain executives and other highly compensated employees. Investments are maintained within a trust and include money market funds, mutual funds and life insurance policies. The cash surrender value of the life insurance policies is invested primarily in mutual funds. The investments are recorded at fair value based on quoted market prices and are included in Other Assets in the Consolidated Condensed Balance Sheets. We classify the investments which have observable market prices in active markets in Level 1 as these are generally publicly-traded mutual funds. The remaining deferred compensation assets are classified in Level 2, as fair value can be corroborated based on observable market data. Realized and unrealized gains (losses) on deferred compensation are included in earnings.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

In addition to assets and liabilities that are recorded at fair value on a recurring basis, we record assets and liabilities at fair value on a nonrecurring basis. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges. During the three and six months ended March 30, 2013, we recorded a $56 million charge to significantly impair non-core assets in China. The impairment charge resulted from the completion of an assessment of our long-term business strategy in China, in which we determined a complex was no longer core to the execution of our future business plan. Our valuation of these assets incorporated unobservable Level 3 inputs. We did not have any significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition during the three and six months ended March 31, 2012.

Other Financial Instruments

Fair value of our debt is principally estimated using Level 2 inputs based on quoted prices for those or similar instruments. Fair value and carrying value for our debt are as follows (in millions):



	March 30, 2013				September 29, 2012
	Fair Value		Carrying Value		Fair Value		Carrying Value
Total Debt	$	2,617	$	2,416	$	2,596	$	2,432

Other Comprehensive Income

Other Comprehensive Income (Loss)

OTHER COMPREHENSIVE INCOME (LOSS)

The before and after tax changes in the components of other comprehensive income (loss) are as follows (in millions):



	Three Months Ended																Six Months Ended
	March 30, 2013									March 31, 2012							March 30, 2013									March 31, 2012
	Before Tax			Tax			After Tax			Before Tax		Tax			After Tax		Before Tax			Tax			After Tax			Before Tax			Tax			After Tax

Derivatives accounted for as cash flow hedges:
(Gain) loss reclassified to Cost of Sales	$	7		$	(3	)	$	4		$	10	$	(4	)	$	6	$	3		$	(1	)	$	2		$	16		$	(6	)	$	10
(Gain) loss reclassified to Other Income/Expense	—			—			—			—		—			—		2			(1		)	1			(5		)	2			(3		)
Unrealized gain (loss)	(15		)	6			(9		)	2		(1		)	1		(28		)	11			(17		)	(1		)	—			(1		)

Investments:
(Gain) loss reclassified to Other Income/Expense	(1		)	—			(1		)	—		—			—		(1		)	—			(1		)	—			—			—
Unrealized gain (loss)	1			(1		)	—			—		—			—		(3		)	1			(2		)	2			(1		)	1

Currency translation:
Translation (gain) loss reclassified to Other Income/Expense	(19		)	(1		)	(20		)	—		—			—		(19		)	(1		)	(20		)	—			—			—
Translation adjustment	5			—			5			27		—			27		4			—			4			30			—			30

Postretirement benefits	2			—			2			1		—			1		3			—			3			2			—			2
Total Other Comprehensive Income (Loss)	$	(20	)	$	1		$	(19	)	$	40	$	(5	)	$	35	$	(39	)	$	9		$	(30	)	$	44		$	(5	)	$	39

Segment Reporting

SEGMENT REPORTING

We operate in four segments: Chicken, Beef, Pork and Prepared Foods. We measure segment profit as operating income (loss).

Chicken: Chicken operations include breeding and raising chickens, as well as processing live chickens into fresh, frozen and value-added chicken products and logistics operations to move products through the supply chain. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international markets. It also includes sales from allied products and our chicken breeding stock subsidiary.

Beef: Beef operations include processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products. This segment also includes sales from allied products such as hides and variety meats, as well as logistics operations to move products through the supply chain. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international markets. Allied products are marketed to manufacturers of pharmaceuticals and technical products.

Pork: Pork operations include processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and case-ready products. This segment also includes our live swine group, related allied product processing activities and logistics operations to move products through the supply chain. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international markets. We sell allied products to pharmaceutical and technical products manufacturers, as well as a limited number of live swine to pork processors.

Prepared Foods: Prepared Foods operations include manufacturing and marketing frozen and refrigerated food products and logistics operations to move products through the supply chain. Products include pepperoni, bacon, beef and pork pizza toppings, pizza crusts, flour and corn tortilla products, appetizers, prepared meals, ethnic foods, soups, sauces, side dishes, meat dishes and processed meats. Products are marketed domestically to food retailers, foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, healthcare facilities, the military and other food processors, as well as to international markets.

The results from Dynamic Fuels are included in Other.

Information on segments and a reconciliation to income before income taxes are as follows (in millions):



	Three Months Ended							Six Months Ended
	March 30, 2013				March 31, 2012			March 30, 2013				March 31, 2012
Sales:
Chicken	$	3,094			$	2,911		$	6,050			$	5,673
Beef	3,447				3,369			6,932				6,836
Pork	1,311				1,372			2,674				2,847
Prepared Foods	803				807			1,644				1,668
Other	27				46			47				100
Intersegment Sales	(263		)		(237		)	(526		)		(527		)
Total Sales	$	8,419			$	8,268		$	16,821			$	16,597
Operating Income (Loss):
Chicken	$	78		(a)	$	145		$	185		(a)	$	177
Beef	(26		)		(1		)	20				30
Pork	72				115			197				280
Prepared Foods	28				44			61				95
Other	22				(1		)	11				(2		)
Total Operating Income	174				302			474				580

Total Other (Income) Expense	15			(b)	45			51			(b)	80

Income before Income Taxes	$	159			$	257		$	423			$	500


(a)	Includes $56 million charge related to the impairment of non-core assets in China


(b)	Includes $19 million related to the recognized currency translation adjustment gain

The Beef segment had sales of $54 million and $49 million in the second quarter of fiscal 2013 and 2012, respectively, and sales of $97 million and $113 million in the six months of fiscal 2013 and 2012, respectively, from transactions with other operating segments of the Company and Dynamic Fuels. The Pork segment had sales of $209 million and $188 million in the second quarter of fiscal 2013 and 2012, respectively, and sales of $429 million and $414 million in the six months of fiscal 2013 and 2012, respectively, from transactions with other operating segments of the Company. The aforementioned sales from intersegment transactions, which were at market prices, were included in the segment sales in the above table.

Commitments And Contingencies

COMMITMENTS AND CONTINGENCIES

Commitments

We guarantee obligations of certain outside third parties, which consist primarily of a lease and grower loans, which are substantially collateralized by the underlying assets. Terms of the underlying debt cover periods up to ten years, and the maximum potential amount of future payments as of March 30, 2013, was $70 million. We also maintain operating leases for various types of equipment, some of which contain residual value guarantees for the market value of the underlying leased assets at the end of the term of the lease. The remaining terms of the lease maturities cover periods over the next seven years. The maximum potential amount of the residual value guarantees is $56 million, of which $50 million could be recoverable through various recourse provisions and an additional undeterminable recoverable amount based on the fair value of the underlying leased assets. The likelihood of material payments under these guarantees is not considered probable. At March 30, 2013, and September 29, 2012, no material liabilities for guarantees were recorded.

We have cash flow assistance programs in which certain livestock suppliers participate. Under these programs, we pay an amount for livestock equivalent to a standard cost to grow such livestock during periods of low market sales prices. The amounts of such payments that are in excess of the market sales price are recorded as receivables and accrue interest. Participating suppliers are obligated to repay these receivables balances when market sales prices exceed this standard cost, or upon termination of the agreement. Our maximum obligation associated with these programs is limited to the fair value of each participating livestock supplier’s net tangible assets. The potential maximum obligation as of March 30, 2013, was approximately $290 million. The total receivables under these programs were $54 million and $25 million at March 30, 2013, and September 29, 2012, respectively, and are included, net of allowance for uncollectible amounts, in Accounts Receivable at March 30, 2013, and September 29, 2012, in our Consolidated Condensed Balance Sheets. Even though these programs are limited to the net tangible assets of the participating livestock suppliers, we also manage a portion of our credit risk associated with these programs by obtaining security interests in livestock suppliers’ assets. After analyzing residual credit risks and general market conditions, we have recorded an allowance for these programs’ estimated uncollectible receivables of $16 million and $10 million at March 30, 2013, and September 29, 2012, respectively.

Contingencies

We are involved in various claims and legal proceedings. We routinely assess the likelihood of adverse judgments or outcomes to those matters, as well as ranges of probable losses, to the extent losses are reasonably estimable. We record accruals for such matters to the extent that we conclude a loss is probable and the financial impact, should an adverse outcome occur, is reasonably estimable. Such accruals are reflected in the Company’s consolidated condensed financial statements. In our opinion, we have made appropriate and adequate accruals for these matters and believe the probability of a material loss beyond the amounts accrued to be remote; however, the ultimate liability for these matters is uncertain, and if accruals are not adequate, an adverse outcome could have a material effect on the consolidated condensed financial condition or results of operations. Listed below are certain claims made against the Company and/or our subsidiaries for which the potential exposure is considered material to the Company’s consolidated condensed financial statements. We believe we have substantial defenses to the claims made and intend to vigorously defend these matters.

We have pending against us a lawsuit styled DeAsencio v. Tyson Foods, Inc. (E.D. Pennsylvania, August 22, 2000) in which the plaintiffs allege that we failed to compensate certain poultry plant employees for the time it takes to engage in pre- and post-shift activities such as changing into and out of protective and sanitary clothing and walking to and from the changing area, work areas and break areas in violation of the Fair Labor Standards Act (FLSA). They seek back wages, liquidated damages, pre- and post-judgment interest, and attorneys’ fees. Plaintiffs appealed a jury verdict and final judgment entered in our favor on June 22, 2006. On September 7, 2007, the U.S. Court of Appeals for the Third Circuit reversed the jury verdict and remanded the case to the District Court for further proceedings. We sought rehearing en banc, which was denied by the Court of Appeals on October 5, 2007. The United States Supreme Court denied our petition for a writ of certiorari on June 9, 2008. The new trial date has not been set.

We have pending eleven separate wage and hour actions involving Tyson Fresh Meats Inc.’s plants located in Garden City and Emporia, Kansas (Garcia, et al. v. Tyson Foods, Inc., Tyson Fresh Meats, Inc., D. Kansas, May 15, 2006), Storm Lake, Iowa (Bouaphakeo (f/k/a Sharp), et al. v. Tyson Foods, Inc., N.D. Iowa, February 6, 2007), Columbus Junction, Iowa (Guyton (f/k/a Robinson), et al. v. Tyson Foods, Inc., d.b.a Tyson Fresh Meats, Inc., S.D. Iowa, September 12, 2007), Joslin, Illinois (Murray, et al. v. Tyson Foods, Inc., C.D. Illinois, January 2, 2008; and DeVoss v. Tyson Foods, Inc. d.b.a. Tyson Fresh Meats, C.D. Illinois, March 2, 2011), Dakota City, Nebraska (Gomez, et al. v. Tyson Foods, Inc., D. Nebraska, January 16, 2008), Madison, Nebraska (Acosta, et al. v Tyson Foods, Inc. d.b.a Tyson Fresh Meats, Inc., D. Nebraska, February 29, 2008), Perry and Waterloo, Iowa (Edwards, et al. v. Tyson Foods, Inc. d.b.a Tyson Fresh Meats, Inc., S.D. Iowa, March 20, 2008); Council Bluffs, Iowa (Maxwell (f/k/a Salazar), et al. v. Tyson Foods, Inc. d.b.a Tyson Fresh Meats, Inc., S.D. Iowa, April 29, 2008); Logansport, Indiana (Carter, et al. v. Tyson Foods, Inc. and Tyson Fresh Meats, Inc., N.D. Indiana, April 29, 2008); and Goodlettsville, Tennessee (Abadeer v. Tyson Foods, Inc., and Tyson Fresh Meats, Inc., M.D. Tennessee, February 6, 2009). The actions allege we failed to pay employees for all hours worked, including overtime compensation for the time it takes to change into protective work uniforms, safety equipment and other sanitary and protective clothing worn by employees, and for walking to and from the changing area, work areas and break areas in violation of the FLSA and analogous state laws. The plaintiffs seek back wages, liquidated damages, pre- and post-judgment interest, attorneys’ fees and costs. Each case is proceeding in its jurisdiction.

•

After a trial in the Garcia case involving only our Garden City, Kansas facility, a jury verdict in favor of the plaintiffs was entered on March 17, 2011. Exclusive of pre- and post-judgment interest, attorneys’ fees and costs, the jury found violations of federal and state laws for pre- and post-shift work activities and awarded damages in the amount of $503,011. Plaintiffs’ counsel filed an application for attorneys’ fees and expenses which we contested. On December 7, 2012, the court granted plaintiffs' application and awarded a total of $3,609,723. We filed an appeal with the Tenth Circuit Court of Appeals on December 27, 2012.

•

A jury trial was held in the Bouaphakeo case, which involves our Storm Lake, Iowa pork plant and resulted in a jury verdict in favor of the plaintiffs for violations of federal and state laws for pre- and post-shift work activities. The trial court also awarded the plaintiffs liquidated damages, resulting in total damages awarded in the amount of $5,784,758. We have appealed the jury's verdict and trial court's award. The plaintiffs' counsel has also filed an application for attorneys' fees and expenses in the amount of $2,692,145.


•	A jury trial was held in the Guyton case, which involves our Columbus Junction, Iowa pork plant, and resulted in a jury verdict in favor of Tyson on April 25, 2012. The plaintiffs filed a post-trial motion, which was denied by the trial court on April 2, 2013.


•	The Maxwell case, which involves our Council Bluffs, Iowa plant, has been resolved by the parties, and the parties filed a joint motion for approval of the terms of settlement with the trial court on October 31, 2012, which the trial court has preliminarily approved.


•	A bench trial was held in the Acosta case, which involves our Madison, Nebraska pork plant, in January 2013. The trial court has not rendered a decision.


•	A jury trial in the Gomez case, which involves our Dakota City, Nebraska beef plant, was held, and the jury found in favor of the plaintiffs on April 3, 2013. The trial court has not determined the amount of damages.


•	The trial court in the Edwards case, which involves the Perry and Waterloo, Iowa facilities, split the case into two trials. The trial involving the Perry facility is scheduled to begin October 7, 2013, and the trial involving the Waterloo facility is scheduled to begin December 9, 2013.


•	The Carter case, which involves our Logansport, Indiana pork plant, is scheduled for trial September 8, 2014.

We have pending one wage and hour action involving our Tyson Prepared Foods plant located in Jefferson, Wisconsin (Weissman, et al. v. Tyson Prepared Foods, Inc., Jefferson County (Wisconsin) Circuit Court, October 20, 2010). The plaintiffs allege that employees should be paid for the time it takes to engage in pre- and post-shift activities such as changing into and out of protective and sanitary clothing and the associated time it takes to walk to and from their workstations post-donning and pre-doffing of protective and sanitary clothing. Six named plaintiffs seek to act as state law class representatives on behalf of all current and former employees who were allegedly not paid for time worked and seek back wages, liquidated damages, pre- and post-judgment interest, and attorneys’ fees and costs. On May 16, 2011, the plaintiffs filed a motion to certify a state law class of all hourly employees who have worked at the Jefferson plant from October 20, 2008, to the present. We have filed motions for summary judgment seeking dismissal of the claims, or, in the alternative, to limit the claims made for non-compensable clothes changing activities. The court granted summary judgment in favor of Tyson on August 31, 2012, and the plaintiffs filed a notice of appeal on October 5, 2012.

On June 19, 2005, the Attorney General and the Secretary of the Environment of the State of Oklahoma filed a complaint in the U.S. District Court for the Northern District of Oklahoma against us, three of our subsidiaries and six other poultry integrators. The complaint, which was subsequently amended, asserts a number of state and federal causes of action including, but not limited to, counts under Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), Resource Conservation and Recovery Act (RCRA), and state-law public nuisance theories. The amended complaint asserts that defendants and certain contract growers who are not named in the amended complaint polluted the surface waters, groundwater and associated drinking water supplies of the Illinois River Watershed (IRW) through the land application of poultry litter. Oklahoma asserts that this alleged pollution has also caused extensive injury to the environment (including soils and sediments) of the IRW and that the defendants have been unjustly enriched. Oklahoma’s claims cover the entire IRW, which encompasses more than one million acres of land and the natural resources (including lakes and waterways) contained therein. Oklahoma seeks wide-ranging relief, including injunctive relief, compensatory damages in excess of $800 million, an unspecified amount in punitive damages and attorneys’ fees. We and the other defendants have denied liability, asserted various defenses, and filed a third-party complaint that asserts claims against other persons and entities whose activities may have contributed to the pollution alleged in the amended complaint. The district court has stayed proceedings on the third party complaint pending resolution of Oklahoma’s claims against the defendants. On October 31, 2008, the defendants filed a motion to dismiss for failure to join the Cherokee Nation as a required party or, in the alternative, for judgment as a matter of law based on the plaintiffs’ lack of standing. This motion was granted in part and denied in part on July 22, 2009. In its ruling, the district court dismissed Oklahoma’s claims for cost recovery and for natural resources damages under CERCLA and for unjust enrichment under Oklahoma common law. This ruling also narrowed the scope of Oklahoma’s remaining claims by dismissing all damage claims under its causes of action for Oklahoma common law nuisance, federal common law nuisance, and Oklahoma common law trespass, leaving only its claims for injunctive relief for trial. On August 18, 2009, the Court granted partial summary judgment in favor of the defendants on Oklahoma’s claims for violations of the Oklahoma Registered Poultry Feeding Operations Act. Oklahoma later voluntarily dismissed the remainder of this claim. On September 2, 2009, the Cherokee Nation filed a motion to intervene in the lawsuit. Its motion to intervene was denied on September 15, 2009, and the Cherokee Nation filed a notice of appeal of that ruling in the Tenth Circuit Court of Appeals on September 17, 2009. A non-jury trial of the case began on September 24, 2009. At the close of Oklahoma’s case-in-chief, the Court granted the defendants’ motions to dismiss claims based on RCRA, nuisance per se, and health risks related to bacteria. The defense rested its case on January 13, 2010, and closing arguments were held on February 11, 2010. On September 21, 2010, the Court of Appeals affirmed the district court’s denial of the Cherokee Nation’s motion to intervene. On October 6, 2010, the Cherokee Nation and the State of Oklahoma filed a petition for rehearing or en banc review seeking reconsideration of this ruling. The Court of Appeals denied this petition. The district court has not yet rendered its decision from the trial, which ended in February 2010.

In late 2010, the United States Environmental Protection Agency (EPA) Region 7 began a Clean Air Act investigation of the Company related to operation and maintenance of ammonia refrigeration equipment at multiple facilities. The EPA subsequently referred the matter, which involves allegations of potential non-compliance with the Clean Air Act’s Risk Management Plan requirements at 23 Tyson facilities in Kansas, Missouri, Iowa and Nebraska, to the United States Department of Justice (DOJ). We reached a settlement agreement with the EPA and DOJ in which we agreed to pay $3,950,000 in civil penalties and fund $300,000 in supplemental environmental projects related to the purchase of emergency response equipment for certain communities in which we have operations. We also agreed to conduct third party audits of the 23 facilities. Pursuant to this settlement, the DOJ filed the complaint and consent decree, which contains the terms of the settlement agreement, with the federal district court in the Eastern District of Missouri. The consent decree is subject to a 30-day public notice and comment period, at the close of which the consent decree may be entered by the court and become a final settlement of this matter.

Condensed Consolidating Financial Statements

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

TFM Parent, our wholly-owned subsidiary, has fully and unconditionally guaranteed the 2016 Notes. Additionally, TFM Parent has fully and unconditionally guaranteed the 2022 Notes until such date TFM Parent has been released of its guarantee of both (i) Tyson's $1.0 billion revolving credit facility and (ii) the 2016 Notes, at which time TFM Parent's guarantee of the 2022 Notes is permanently released. The following financial information presents condensed consolidating financial statements, which include Tyson Foods, Inc. (TFI Parent); TFM Parent; the Non-Guarantors Subsidiaries (Non-Guarantors) on a combined basis; the elimination entries necessary to consolidate TFI Parent, TFM Parent and the Non-Guarantors; and Tyson Foods, Inc. on a consolidated basis, and is provided as an alternative to providing separate financial statements for the guarantor. This presentation has been revised from the financial presentation disclosed in periods prior to September 29, 2012, to reflect changes in the subsidiary guarantees associated with the permanent release of certain subsidiary guarantors upon the retirement of the 10.50% Senior Notes due 2014.




Condensed Consolidating Statement of Income and Comprehensive Income for the three months ended March 30, 2013													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	101		$	4,552		$	4,044		$	(278	)	$	8,419
Cost of Sales	11			4,479			3,799			(278		)	8,011
Gross Profit	90			73			245			—			408
Selling, General and Administrative	12			45			177			—			234
Operating Income	78			28			68			—			174
Other (Income) Expense:
Interest expense, net	9			15			10			—			34
Other, net	4			—			(23		)	—			(19		)
Equity in net earnings of subsidiaries	(51		)	10			—			41			—
Total Other (Income) Expense	(38		)	25			(13		)	41			15
Income (Loss) before Income Taxes	116			3			81			(41		)	159
Income Tax (Benefit) Expense	21			2			30			—			53
Net Income (Loss)	95			1			51			(41		)	106
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			11			—			11
Net Income (Loss) Attributable to Tyson	95			1			40			(41		)	95

Comprehensive Income (Loss)	87			(22		)	(19		)	41			87
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			11			—			11
Comprehensive Income (Loss) Attributable to Tyson	$	87		$	(22	)	$	(30	)	$	41		$	76




Condensed Consolidating Statement of Income and Comprehensive Income for the three months ended March 31, 2012													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	76		$	4,620		$	3,866		$	(294	)	$	8,268
Cost of Sales	(16		)	4,469			3,573			(293		)	7,733
Gross Profit	92			151			293			(1		)	535
Selling, General and Administrative	9			57			168			(1		)	233
Operating Income	83			94			125			—			302
Other (Income) Expense:
Interest expense, net	2			24			21			—			47
Other, net	(1		)	—			(1		)	—			(2		)
Equity in net earnings of subsidiaries	(107		)	(29		)	11			125			—
Total Other (Income) Expense	(106		)	(5		)	31			125			45
Income (Loss) before Income Taxes	189			99			94			(125		)	257
Income Tax (Benefit) Expense	23			24			44			—			91
Net Income (Loss)	166			75			50			(125		)	166
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Net Income (Loss) Attributable to Tyson	166			75			50			(125		)	166

Comprehensive Income (Loss)	201			105			88			(193		)	201
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Comprehensive Income (Loss) Attributable to Tyson	$	201		$	105		$	88		$	(193	)	$	201



Condensed Consolidating Statement of Income and Comprehensive Income for the six months ended March 30, 2013													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	176		$	9,302		$	7,948		$	(605	)	$	16,821
Cost of Sales	27			9,017			7,437			(605		)	15,876
Gross Profit	149			285			511			—			945
Selling, General and Administrative	32			97			342			—			471
Operating Income	117			188			169			—			474
Other (Income) Expense:
Interest expense, net	17			31			22			—			70
Other, net	4			—			(23		)	—			(19		)
Equity in net earnings of subsidiaries	(200		)	(14		)	—			214			—
Total Other (Income) Expense	(179		)	17			(1		)	214			51
Income (Loss) before Income Taxes	296			171			170			(214		)	423
Income Tax (Benefit) Expense	28			53			68			—			149
Net Income (Loss)	268			118			102			(214		)	274
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			6			—			6
Net Income (Loss) Attributable to Tyson	268			118			96			(214		)	268

Comprehensive Income (Loss)	244			99			31			(130		)	244
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			6			—			6
Comprehensive Income (Loss) Attributable to Tyson	$	244		$	99		$	25		$	(130	)	$	238



Condensed Consolidating Statement of Income and Comprehensive Income for the six months ended March 31, 2012													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	128		$	9,461		$	7,627		$	(619	)	$	16,597
Cost of Sales	(8		)	9,111			7,084			(618		)	15,569
Gross Profit	136			350			543			(1		)	1,028
Selling, General and Administrative	21			107			321			(1		)	448
Operating Income	115			243			222			—			580
Other (Income) Expense:
Interest expense, net	(11		)	56			49			—			94
Other, net	—			—			(14		)	—			(14		)
Equity in net earnings of subsidiaries	(234		)	(55		)	—			289			—
Total Other (Income) Expense	(245		)	1			35			289			80
Income (Loss) before Income Taxes	360			242			187			(289		)	500
Income Tax (Benefit) Expense	38			64			76			—			178
Net Income (Loss)	322			178			111			(289		)	322
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Net Income (Loss) Attributable to Tyson	322			178			111			(289		)	322

Comprehensive Income (Loss)	361			205			139			(344		)	361
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Comprehensive Income (Loss) Attributable to Tyson	$	361		$	205		$	139		$	(344	)	$	361



Condensed Consolidating Balance Sheet as of March 30, 2013										in millions
	TFI Parent		TFM Parent		Non- Guarantors		Eliminations			Total
Assets
Current Assets:
Cash and cash equivalents	$	—	$	22	$	740	$	—		$	762
Accounts receivable, net	—		534		894		—			1,428
Inventories	1		1,015		1,905		—			2,921
Other current assets	403		84		179		(478		)	188
Total Current Assets	404		1,655		3,718		(478		)	5,299
Net Property, Plant and Equipment	32		874		3,096		—			4,002
Goodwill	—		881		1,011		—			1,892
Intangible Assets	—		23		92		—			115
Other Assets	905		163		246		(833		)	481
Investment in Subsidiaries	11,493		2,001		—		(13,494		)	—
Total Assets	$	12,834	$	5,597	$	8,163	$	(14,805	)	$	11,789

Liabilities and Shareholders’ Equity
Current Liabilities:
Current debt	$	451	$	133	$	293	$	(365	)	$	512
Accounts payable	20		552		693		—			1,265
Other current liabilities	4,363		158		797		(4,363		)	955
Total Current Liabilities	4,834		843		1,783		(4,728		)	2,732
Long-Term Debt	1,771		678		257		(802		)	1,904
Deferred Income Taxes	—		127		372		(1		)	498
Other Liabilities	153		140		279		(31		)	541

Total Tyson Shareholders’ Equity	6,076		3,809		5,434		(9,243		)	6,076
Noncontrolling Interest	—		—		38		—			38
Total Shareholders’ Equity	6,076		3,809		5,472		(9,243		)	6,114
Total Liabilities and Shareholders’ Equity	$	12,834	$	5,597	$	8,163	$	(14,805	)	$	11,789



Condensed Consolidating Balance Sheet as of September 29, 2012										in millions
	TFI Parent		TFM Parent		Non- Guarantors		Eliminations			Total
Assets
Current Assets:
Cash and cash equivalents	$	1	$	9	$	1,061	$	—		$	1,071
Accounts receivable, net	1		499		878		—			1,378
Inventories	—		950		1,859		—			2,809
Other current assets	139		100		90		(184		)	145
Total Current Assets	141		1,558		3,888		(184		)	5,403
Net Property, Plant and Equipment	31		873		3,118		—			4,022
Goodwill	—		881		1,010		—			1,891
Intangible Assets	—		26		103		—			129
Other Assets	1,257		151		251		(1,208		)	451
Investment in Subsidiaries	11,849		2,005		—		(13,854		)	—
Total Assets	$	13,278	$	5,494	$	8,370	$	(15,246	)	$	11,896

Liabilities and Shareholders’ Equity
Current Liabilities:
Current debt	$	439	$	—	$	167	$	(91	)	$	515
Accounts payable	10		558		804		—			1,372
Other current liabilities	4,887		144		766		(4,854		)	943
Total Current Liabilities	5,336		702		1,737		(4,945		)	2,830
Long-Term Debt	1,774		809		486		(1,152		)	1,917
Deferred Income Taxes	—		135		432		(9		)	558
Other Liabilities	156		146		294		(47		)	549

Total Tyson Shareholders’ Equity	6,012		3,702		5,391		(9,093		)	6,012
Noncontrolling Interest	—		—		30		—			30
Total Shareholders’ Equity	6,012		3,702		5,421		(9,093		)	6,042
Total Liabilities and Shareholders’ Equity	$	13,278	$	5,494	$	8,370	$	(15,246	)	$	11,896



Condensed Consolidating Statement of Cash Flows for the six months ended March 30, 2013													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Cash Provided by (Used for) Operating Activities	$	89		$	76		$	78		$	(13	)	$	230
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(2		)	(54		)	(234		)	—			(290		)
(Purchases of)/Proceeds from marketable securities, net	—			(13		)	(50		)	—			(63		)
Other, net	(3		)	—			23			—			20
Cash Provided by (Used for) Investing Activities	(5		)	(67		)	(261		)	—			(333		)
Cash Flows from Financing Activities:
Net change in debt	(1		)	—			(17		)	—			(18		)
Purchases of Tyson Class A common stock	(188		)	—			—			—			(188		)
Dividends	(70		)	—			(13		)	13			(70		)
Other, net	71			—			—			—			71
Net change in intercompany balances	103			4			(107		)	—			—
Cash Provided by (Used for) Financing Activities	(85		)	4			(137		)	13			(205		)
Effect of Exchange Rate Change on Cash	—			—			(1		)	—			(1		)
Increase (Decrease) in Cash and Cash Equivalents	(1		)	13			(321		)	—			(309		)
Cash and Cash Equivalents at Beginning of Year	1			9			1,061			—			1,071
Cash and Cash Equivalents at End of Period	$	—		$	22		$	740		$	—		$	762



Condensed Consolidating Statement of Cash Flows for the six months ended March 31, 2012												in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations		Total
Cash Provided by (Used for) Operating Activities	$	101		$	162		$	191		$	—	$	454
Cash Flows from Investing Activities:
Additions to property, plant and equipment	—			(53		)	(291		)	—		(344		)
(Purchases of)/Proceeds from marketable securities, net	—			(8		)	(4		)	—		(12		)
Other, net	2			2			13			—		17
Cash Provided by (Used for) Investing Activities	2			(59		)	(282		)	—		(339		)
Cash Flows from Financing Activities:
Net change in debt	—			—			15			—		15
Purchases of Tyson Class A common stock	(128		)	—			—			—		(128		)
Dividends	(29		)	—			—			—		(29		)
Other, net	29			—			—			—		29
Net change in intercompany balances	26			(101		)	75			—		—
Cash Provided by (Used for) Financing Activities	(102		)	(101		)	90			—		(113		)
Effect of Exchange Rate Change on Cash	—			—			5			—		5
Increase (Decrease) in Cash and Cash Equivalents	1			2			4			—		7
Cash and Cash Equivalents at Beginning of Year	1			1			714			—		716
Cash and Cash Equivalents at End of Period	$	2		$	3		$	718		$	—	$	723

Accounting Policies (Policy)

Basis Of Presentation

BASIS OF PRESENTATION

The consolidated condensed financial statements have been prepared by Tyson Foods, Inc. (“Tyson,” “the Company,” “we,” “us” or “our”). Certain information and accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations. Although we believe the disclosures contained herein are adequate to make the information presented not misleading, these consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our annual report on Form 10-K for the fiscal year ended September 29, 2012. Preparation of consolidated condensed financial statements requires us to make estimates and assumptions. These estimates and assumptions affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

We believe the accompanying consolidated condensed financial statements contain all adjustments, which are of a normal recurring nature, necessary to state fairly our financial position as of March 30, 2013, and the results of operations for the three and six months ended March 30, 2013, and March 31, 2012. Results of operations and cash flows for the periods presented are not necessarily indicative of results to be expected for the full year.

Consolidation

CONSOLIDATION

The consolidated condensed financial statements include the accounts of all wholly-owned subsidiaries, as well as majority-owned subsidiaries over which we exercise control and, when applicable, entities for which we have a controlling financial interest or variable interest entities for which we are the primary beneficiary. All significant intercompany accounts and transactions have been eliminated in consolidation.

Accounting Policies Common Stock Repurchases (Tables)

Schedule of Common Stock Repurchases

A summary of cumulative share repurchases of our Class A common stock is as follows (in millions):



	Three Months Ended						Six Months Ended
	March 30, 2013			March 31, 2012			March 30, 2013			March 31, 2012
	Shares	Dollars		Shares	Dollars		Shares	Dollars		Shares	Dollars
Shares repurchased:
Under share repurchase program	2.1	$	50	3.6	$	70	7.2	$	150	5.4	$	105
To fund certain obligations under equity compensation plans	1.1	23		0.4	8		1.9	38		1.2	23
Total share repurchases	3.2	$	73	4.0	$	78	9.1	$	188	6.6	$	128

Inventories (Tables)

Schedule of Inventory

Total inventory consists of the following (in millions):



	March 30, 2013		September 29, 2012
Processed products:
Weighted-average method – chicken and prepared foods	$	823	$	754
First-in, first-out method – beef and pork	635		611
Livestock – first-in, first-out method	1,025		952
Supplies and other – weighted-average method	438		492
Total inventories	$	2,921	$	2,809

Property, Plant And Equipment (Tables)

Property, Plant And Equipment And Accumulated Depreciation

The major categories of property, plant and equipment and accumulated depreciation are as follows (in millions):



	March 30, 2013		September 29, 2012
Land	$	102	$	101
Buildings and leasehold improvements	2,916		2,868
Machinery and equipment	5,351		5,208
Land improvements and other	413		408
Buildings and equipment under construction	299		298
	9,081		8,883
Less accumulated depreciation	5,079		4,861
Net property, plant and equipment	$	4,002	$	4,022

Other Current Liabilities (Tables)

Schedule Of Other Current Liabilities

Other current liabilities are as follows (in millions):



	March 30, 2013		September 29, 2012
Accrued salaries, wages and benefits	$	297	$	382
Self-insurance reserves	279		274
Other	379		287
Total other current liabilities	$	955	$	943

Debt (Tables)

Major Components Of Debt

The major components of debt are as follows (in millions):



	March 30, 2013			September 29, 2012
Revolving credit facility	$	—		$	—
Senior notes:
3.25% Convertible senior notes due October 2013 (2013 Notes)	458			458
6.60% Senior notes due April 2016 (2016 Notes)	638			638
7.00% Notes due May 2018	120			120
4.50% Senior notes due June 2022 (2022 Notes)	1,000			1,000
7.00% Notes due January 2028	18			18
Discount on senior notes	(17		)	(28		)
GO Zone tax-exempt bonds due October 2033 (0.15% at 3/30/2013)	100			100
Other	99			126
Total debt	2,416			2,432
Less current debt	512			515
Total long-term debt	$	1,904		$	1,917

Earnings Per Share (Tables)

Schedule Of Earnings Per Share, Basic And Diluted

The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data):



	Three Months Ended				Six Months Ended
	March 30, 2013		March 31, 2012		March 30, 2013		March 31, 2012
Numerator:
Net income	$	106	$	166	$	274	$	322
Less: Net income attributable to noncontrolling interest	11		—		6		—
Net income attributable to Tyson	95		166		268		322
Less Dividends Declared:
Class A	14		12		60		24
Class B	3		2		13		5
Undistributed earnings	$	78	$	152	$	195	$	293

Class A undistributed earnings	$	64	$	125	$	160	$	242
Class B undistributed earnings	14		27		35		51
Total undistributed earnings	$	78	$	152	$	195	$	293
Denominator:
Denominator for basic earnings per share:
Class A weighted average shares	283		294		284		295
Class B weighted average shares, and shares under the if-converted method for diluted earnings per share	70		70		70		70
Effect of dilutive securities:
Stock options and restricted stock	5		5		5		5
Convertible 2013 Notes and Warrants	8		4		5		4
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions	366		373		364		374
Net Income Per Share Attributable to Tyson:
Class A Basic	$	0.27	$	0.47	$	0.77	$	0.90
Class B Basic	$	0.25	$	0.42	$	0.70	$	0.81
Diluted	$	0.26	$	0.44	$	0.74	$	0.86

Derivative Financial Instruments (Tables)

Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value

The following table sets forth the fair value of all derivative instruments outstanding in the Consolidated Condensed Balance Sheets (in millions):



	Fair Value
	March 30, 2013		September 29, 2012
Derivative Assets:
Derivatives designated as hedging instruments:
Commodity contracts	$	18	$	32
Derivatives not designated as hedging instruments:
Commodity contracts	20		21
Foreign exchange contracts	1		1
Total derivative assets – not designated	21		22

Total derivative assets	$	39	$	54
Derivative Liabilities:
Derivatives designated as hedging instruments:
Commodity contracts	$	9	$	6
Foreign exchange contracts	4		1
Total derivative liabilities – designated	13		7
Derivatives not designated as hedging instruments:
Commodity contracts	145		96
Foreign exchange contracts	2		2
Interest rate contracts	—		—
Total derivative liabilities – not designated	147		98

Total derivative liabilities	$	160	$	105

Schedule Of Notional Amount Of Derivatives

We had the following aggregated notional values of outstanding forward and option contracts accounted for as cash flow hedges (in millions, except soy meal tons):



	Metric	March 30, 2013		September 29, 2012
Commodity:
Corn	Bushels	28		12
Soy meal	Tons	177,400		164,700
Foreign Currency	United States dollar	$	84	$	80

Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance

The following table sets forth the pretax impact of cash flow hedge derivative instruments on the Consolidated Condensed Statements of Income (in millions):



	Gain/(Loss) Recognized in OCI On Derivatives						Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Three Months Ended							Three Months Ended
	March 30, 2013			March 31, 2012				March 30, 2013			March 31, 2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
Commodity contracts	$	(10	)	$	4		Cost of Sales	$	(7	)	$	(10	)
Foreign exchange contracts	(5		)	(2		)	Other Income/Expense	—			—
Total	$	(15	)	$	2			$	(7	)	$	(10	)

	Gain/(Loss) Recognized in OCI On Derivatives						Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Six Months Ended							Six Months Ended
	March 30, 2013			March 31, 2012				March 30, 2013			March 31, 2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
Commodity contracts	$	(23	)	$	6		Cost of Sales	$	(3	)	$	(16	)
Foreign exchange contracts	(5		)	(7		)	Other Income/Expense	(2		)	5
Total	$	(28	)	$	(1	)		$	(5	)	$	(11	)

Schedule Of Notional Amount Of Derivatives

We had the following aggregated notional values of outstanding forward contracts entered into to hedge forecasted commodity purchases which are accounted for as a fair value hedge (in millions):



	Metric	March 30, 2013	September 29, 2012
Commodity:
Live Cattle	Pounds	157	232
Lean Hogs	Pounds	162	239

Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance



											in millions
	Consolidated Condensed Statements of Income Classification	Three Months Ended						Six Months Ended
	Consolidated Condensed Statements of Income Classification	March 30, 2013			March 31, 2012			March 30, 2013			March 31, 2012
Gain/(Loss) on forwards	Cost of Sales	$	11		$	8		$	15		$	—
Gain/(Loss) on purchase contract	Cost of Sales	(11		)	(8		)	(15		)	—

Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance

The following table sets forth the pretax impact of these derivative instruments on the Consolidated Condensed Statements of Income (in millions):



	Gain/(Loss) Recognized in OCI On Derivatives					Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Three Months Ended						Three Months Ended
	March 30, 2013		March 31, 2012				March 30, 2013			March 31, 2012
Net Investment Hedge – Derivatives designated as hedging instruments:
Foreign exchange contracts	$	—	$	(1	)	Other Income/Expense	$	(4	)	$	—

	Gain/(Loss) Recognized in OCI On Derivatives					Consolidated Condensed Statements of Income Classification	Gain/(Loss) Reclassified from OCI to Earnings
	Six Months Ended						Six Months Ended
	March 30, 2013		March 31, 2012				March 30, 2013			March 31, 2012
Net Investment Hedge – Derivatives designated as hedging instruments:
Foreign exchange contracts	$	—	$	(2	)	Other Income/Expense	$	(4	)	$	—

Schedule Of Notional Amount Of Derivatives

We had the following aggregate outstanding notional values related to our undesignated positions (in millions, except soy meal tons):



	Metric	March 30, 2013		September 29, 2012
Commodity:
Corn	Bushels	15		19
Soy Meal	Tons	167,100		1,200
Soy Oil	Pounds	—		17
Live Cattle	Pounds	229		68
Lean Hogs	Pounds	6		108
Foreign Currency	United States dollars	$	139	$	165
Interest Rate	Average monthly notional debt	$	25	$	27

Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance

The following table sets forth the pretax impact of the undesignated derivative instruments on the Consolidated Condensed Statements of Income (in millions):



	Consolidated Condensed Statements of Income Classification	Gain/(Loss) Recognized in Earnings						Gain/(Loss) Recognized in Earnings
		Three Months Ended						Six Months Ended
		March 30, 2013			March 31, 2012			March 30, 2013			March 31, 2012
Derivatives not designated as hedging instruments:
Commodity contracts	Sales	$	(23	)	$	(6	)	$	(12	)	$	(9	)
Commodity contracts	Cost of Sales	—			29			(7		)	58
Foreign exchange contracts	Other Income/Expense	1			(3		)	2			—
Total		$	(22	)	$	20		$	(17	)	$	49

Fair Value Measurements (Tables)

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a recurring basis according to the valuation techniques we used to determine their fair values (in millions):



March 30, 2013	Level 1		Level 2		Level 3		Netting (a)			Total
Assets:
Commodity Derivatives	$	—	$	38	$	—	$	(36	)	$	2
Foreign Exchange Forward Contracts	—		1		—		—			1
Available for Sale Securities:
Current	—		47		—		—			47
Non-current	3		24		65		—			92
Deferred Compensation Assets	22		185		—		—			207
Total Assets	$	25	$	295	$	65	$	(36	)	$	349
Liabilities:
Commodity Derivatives	$	—	$	154	$	—	$	(139	)	$	15
Foreign Exchange Forward Contracts	—		6		—		—			6
Interest Rate Swap	—		—		—		—			—
Total Liabilities	$	—	$	160	$	—	$	(139	)	$	21



September 29, 2012	Level 1		Level 2		Level 3		Netting (a)			Total
Assets:
Commodity Derivatives	$	—	$	53	$	—	$	(40	)	$	13
Foreign Exchange Forward Contracts	—		1		—		(1		)	—
Available for Sale Securities:
Current	—		3		—		—			3
Non-current	6		25		86		—			117
Deferred Compensation Assets	31		149		—		—			180
Total Assets	$	37	$	231	$	86	$	(41	)	$	313
Liabilities:
Commodity Derivatives	$	—	$	102	$	—	$	(100	)	$	2
Foreign Exchange Forward Contracts	—		3		—		—			3
Interest Rate Swap	—		—		—		—			—
Total Liabilities	$	—	$	105	$	—	$	(100	)	$	5

(a)

Our derivative assets and liabilities are presented in our Consolidated Condensed Balance Sheets on a net basis. We net derivative assets and liabilities, including cash collateral, when a legally enforceable master netting arrangement exists between the counterparty to a derivative contract and us. At March 30, 2013, and September 29, 2012, we had posted with various counterparties $103 million and $59 million, respectively, of cash collateral and held no cash collateral.

Schedule Of Debt Securities Measured At Fair Value On A Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation between the beginning and ending balance of debt securities measured at fair value on a recurring basis in the table above that used significant unobservable inputs (Level 3) (in millions):



	Six Months Ended
	March 30, 2013			March 31, 2012
Balance at beginning of year	$	86		$	83
Total realized and unrealized gains (losses):
Included in earnings	1			1
Included in other comprehensive income (loss)	—			—
Purchases	9			12
Issuances	—			—
Settlements	(31		)	(17		)
Balance at end of period	$	65		$	79
Total gains (losses) for the six-month period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of period	$	—		$	—

Schedule Of Available For Sale Securities

The following table sets forth our available for sale securities' amortized cost basis, fair value and unrealized gain (loss) by significant investment category:



(in millions)	March 30, 2013							September 29, 2012
	Amortized Cost Basis		Fair Value		Unrealized Gain/(Loss)			Amortized Cost Basis		Fair Value		Unrealized Gain/(Loss)
Available for Sale Securities:
Debt Securities:
U.S. Treasury and Agency	$	24	$	26	$	2		$	26	$	27	$	1
Certificates of Deposit and Commercial Paper	45		45		—			—		—		—
Corporate and Asset-Backed (a)	64		65		1			64		66		2
Redeemable Preferred Stock	—		—		—			20		20		—
Equity Securities:
Common Stock and Warrants	9		3		(6		)	9		7		(2		)


(a)	At March 30, 2013, and September 29, 2012, the amortized cost basis for Corporate and Asset-Backed debt securities had been reduced by accumulated other than temporary impairments of $1 million and $2 million, respectively.

Schedule Of Fair Value And Carrying Value Of Debt

Fair value of our debt is principally estimated using Level 2 inputs based on quoted prices for those or similar instruments. Fair value and carrying value for our debt are as follows (in millions):



	March 30, 2013				September 29, 2012
	Fair Value		Carrying Value		Fair Value		Carrying Value
Total Debt	$	2,617	$	2,416	$	2,596	$	2,432

Other Comprehensive Income (Tables)

Components Of Other Comprehensive Income (Loss)

The before and after tax changes in the components of other comprehensive income (loss) are as follows (in millions):



	Three Months Ended																Six Months Ended
	March 30, 2013									March 31, 2012							March 30, 2013									March 31, 2012
	Before Tax			Tax			After Tax			Before Tax		Tax			After Tax		Before Tax			Tax			After Tax			Before Tax			Tax			After Tax

Derivatives accounted for as cash flow hedges:
(Gain) loss reclassified to Cost of Sales	$	7		$	(3	)	$	4		$	10	$	(4	)	$	6	$	3		$	(1	)	$	2		$	16		$	(6	)	$	10
(Gain) loss reclassified to Other Income/Expense	—			—			—			—		—			—		2			(1		)	1			(5		)	2			(3		)
Unrealized gain (loss)	(15		)	6			(9		)	2		(1		)	1		(28		)	11			(17		)	(1		)	—			(1		)

Investments:
(Gain) loss reclassified to Other Income/Expense	(1		)	—			(1		)	—		—			—		(1		)	—			(1		)	—			—			—
Unrealized gain (loss)	1			(1		)	—			—		—			—		(3		)	1			(2		)	2			(1		)	1

Currency translation:
Translation (gain) loss reclassified to Other Income/Expense	(19		)	(1		)	(20		)	—		—			—		(19		)	(1		)	(20		)	—			—			—
Translation adjustment	5			—			5			27		—			27		4			—			4			30			—			30

Postretirement benefits	2			—			2			1		—			1		3			—			3			2			—			2
Total Other Comprehensive Income (Loss)	$	(20	)	$	1		$	(19	)	$	40	$	(5	)	$	35	$	(39	)	$	9		$	(30	)	$	44		$	(5	)	$	39

Segment Reporting (Tables)

Segment Reporting Information, By Segment

Information on segments and a reconciliation to income before income taxes are as follows (in millions):



	Three Months Ended							Six Months Ended
	March 30, 2013				March 31, 2012			March 30, 2013				March 31, 2012
Sales:
Chicken	$	3,094			$	2,911		$	6,050			$	5,673
Beef	3,447				3,369			6,932				6,836
Pork	1,311				1,372			2,674				2,847
Prepared Foods	803				807			1,644				1,668
Other	27				46			47				100
Intersegment Sales	(263		)		(237		)	(526		)		(527		)
Total Sales	$	8,419			$	8,268		$	16,821			$	16,597
Operating Income (Loss):
Chicken	$	78		(a)	$	145		$	185		(a)	$	177
Beef	(26		)		(1		)	20				30
Pork	72				115			197				280
Prepared Foods	28				44			61				95
Other	22				(1		)	11				(2		)
Total Operating Income	174				302			474				580

Total Other (Income) Expense	15			(b)	45			51			(b)	80

Income before Income Taxes	$	159			$	257		$	423			$	500


(a)	Includes $56 million charge related to the impairment of non-core assets in China


(b)	Includes $19 million related to the recognized currency translation adjustment gain

Condensed Consolidating Financial Statements (Tables)

Condensed Consolidating Statement Of Income and Comprehensive Income




Condensed Consolidating Statement of Income and Comprehensive Income for the three months ended March 30, 2013													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	101		$	4,552		$	4,044		$	(278	)	$	8,419
Cost of Sales	11			4,479			3,799			(278		)	8,011
Gross Profit	90			73			245			—			408
Selling, General and Administrative	12			45			177			—			234
Operating Income	78			28			68			—			174
Other (Income) Expense:
Interest expense, net	9			15			10			—			34
Other, net	4			—			(23		)	—			(19		)
Equity in net earnings of subsidiaries	(51		)	10			—			41			—
Total Other (Income) Expense	(38		)	25			(13		)	41			15
Income (Loss) before Income Taxes	116			3			81			(41		)	159
Income Tax (Benefit) Expense	21			2			30			—			53
Net Income (Loss)	95			1			51			(41		)	106
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			11			—			11
Net Income (Loss) Attributable to Tyson	95			1			40			(41		)	95

Comprehensive Income (Loss)	87			(22		)	(19		)	41			87
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			11			—			11
Comprehensive Income (Loss) Attributable to Tyson	$	87		$	(22	)	$	(30	)	$	41		$	76




Condensed Consolidating Statement of Income and Comprehensive Income for the three months ended March 31, 2012													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	76		$	4,620		$	3,866		$	(294	)	$	8,268
Cost of Sales	(16		)	4,469			3,573			(293		)	7,733
Gross Profit	92			151			293			(1		)	535
Selling, General and Administrative	9			57			168			(1		)	233
Operating Income	83			94			125			—			302
Other (Income) Expense:
Interest expense, net	2			24			21			—			47
Other, net	(1		)	—			(1		)	—			(2		)
Equity in net earnings of subsidiaries	(107		)	(29		)	11			125			—
Total Other (Income) Expense	(106		)	(5		)	31			125			45
Income (Loss) before Income Taxes	189			99			94			(125		)	257
Income Tax (Benefit) Expense	23			24			44			—			91
Net Income (Loss)	166			75			50			(125		)	166
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Net Income (Loss) Attributable to Tyson	166			75			50			(125		)	166

Comprehensive Income (Loss)	201			105			88			(193		)	201
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Comprehensive Income (Loss) Attributable to Tyson	$	201		$	105		$	88		$	(193	)	$	201



Condensed Consolidating Statement of Income and Comprehensive Income for the six months ended March 30, 2013													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	176		$	9,302		$	7,948		$	(605	)	$	16,821
Cost of Sales	27			9,017			7,437			(605		)	15,876
Gross Profit	149			285			511			—			945
Selling, General and Administrative	32			97			342			—			471
Operating Income	117			188			169			—			474
Other (Income) Expense:
Interest expense, net	17			31			22			—			70
Other, net	4			—			(23		)	—			(19		)
Equity in net earnings of subsidiaries	(200		)	(14		)	—			214			—
Total Other (Income) Expense	(179		)	17			(1		)	214			51
Income (Loss) before Income Taxes	296			171			170			(214		)	423
Income Tax (Benefit) Expense	28			53			68			—			149
Net Income (Loss)	268			118			102			(214		)	274
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			6			—			6
Net Income (Loss) Attributable to Tyson	268			118			96			(214		)	268

Comprehensive Income (Loss)	244			99			31			(130		)	244
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			6			—			6
Comprehensive Income (Loss) Attributable to Tyson	$	244		$	99		$	25		$	(130	)	$	238



Condensed Consolidating Statement of Income and Comprehensive Income for the six months ended March 31, 2012													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Sales	$	128		$	9,461		$	7,627		$	(619	)	$	16,597
Cost of Sales	(8		)	9,111			7,084			(618		)	15,569
Gross Profit	136			350			543			(1		)	1,028
Selling, General and Administrative	21			107			321			(1		)	448
Operating Income	115			243			222			—			580
Other (Income) Expense:
Interest expense, net	(11		)	56			49			—			94
Other, net	—			—			(14		)	—			(14		)
Equity in net earnings of subsidiaries	(234		)	(55		)	—			289			—
Total Other (Income) Expense	(245		)	1			35			289			80
Income (Loss) before Income Taxes	360			242			187			(289		)	500
Income Tax (Benefit) Expense	38			64			76			—			178
Net Income (Loss)	322			178			111			(289		)	322
Less: Net Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Net Income (Loss) Attributable to Tyson	322			178			111			(289		)	322

Comprehensive Income (Loss)	361			205			139			(344		)	361
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—			—			—			—			—
Comprehensive Income (Loss) Attributable to Tyson	$	361		$	205		$	139		$	(344	)	$	361

Condensed Consolidating Balance Sheet



Condensed Consolidating Balance Sheet as of March 30, 2013										in millions
	TFI Parent		TFM Parent		Non- Guarantors		Eliminations			Total
Assets
Current Assets:
Cash and cash equivalents	$	—	$	22	$	740	$	—		$	762
Accounts receivable, net	—		534		894		—			1,428
Inventories	1		1,015		1,905		—			2,921
Other current assets	403		84		179		(478		)	188
Total Current Assets	404		1,655		3,718		(478		)	5,299
Net Property, Plant and Equipment	32		874		3,096		—			4,002
Goodwill	—		881		1,011		—			1,892
Intangible Assets	—		23		92		—			115
Other Assets	905		163		246		(833		)	481
Investment in Subsidiaries	11,493		2,001		—		(13,494		)	—
Total Assets	$	12,834	$	5,597	$	8,163	$	(14,805	)	$	11,789

Liabilities and Shareholders’ Equity
Current Liabilities:
Current debt	$	451	$	133	$	293	$	(365	)	$	512
Accounts payable	20		552		693		—			1,265
Other current liabilities	4,363		158		797		(4,363		)	955
Total Current Liabilities	4,834		843		1,783		(4,728		)	2,732
Long-Term Debt	1,771		678		257		(802		)	1,904
Deferred Income Taxes	—		127		372		(1		)	498
Other Liabilities	153		140		279		(31		)	541

Total Tyson Shareholders’ Equity	6,076		3,809		5,434		(9,243		)	6,076
Noncontrolling Interest	—		—		38		—			38
Total Shareholders’ Equity	6,076		3,809		5,472		(9,243		)	6,114
Total Liabilities and Shareholders’ Equity	$	12,834	$	5,597	$	8,163	$	(14,805	)	$	11,789



Condensed Consolidating Balance Sheet as of September 29, 2012										in millions
	TFI Parent		TFM Parent		Non- Guarantors		Eliminations			Total
Assets
Current Assets:
Cash and cash equivalents	$	1	$	9	$	1,061	$	—		$	1,071
Accounts receivable, net	1		499		878		—			1,378
Inventories	—		950		1,859		—			2,809
Other current assets	139		100		90		(184		)	145
Total Current Assets	141		1,558		3,888		(184		)	5,403
Net Property, Plant and Equipment	31		873		3,118		—			4,022
Goodwill	—		881		1,010		—			1,891
Intangible Assets	—		26		103		—			129
Other Assets	1,257		151		251		(1,208		)	451
Investment in Subsidiaries	11,849		2,005		—		(13,854		)	—
Total Assets	$	13,278	$	5,494	$	8,370	$	(15,246	)	$	11,896

Liabilities and Shareholders’ Equity
Current Liabilities:
Current debt	$	439	$	—	$	167	$	(91	)	$	515
Accounts payable	10		558		804		—			1,372
Other current liabilities	4,887		144		766		(4,854		)	943
Total Current Liabilities	5,336		702		1,737		(4,945		)	2,830
Long-Term Debt	1,774		809		486		(1,152		)	1,917
Deferred Income Taxes	—		135		432		(9		)	558
Other Liabilities	156		146		294		(47		)	549

Total Tyson Shareholders’ Equity	6,012		3,702		5,391		(9,093		)	6,012
Noncontrolling Interest	—		—		30		—			30
Total Shareholders’ Equity	6,012		3,702		5,421		(9,093		)	6,042
Total Liabilities and Shareholders’ Equity	$	13,278	$	5,494	$	8,370	$	(15,246	)	$	11,896

Condensed Consolidating Statement Of Cash Flows



Condensed Consolidating Statement of Cash Flows for the six months ended March 30, 2013													in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations			Total
Cash Provided by (Used for) Operating Activities	$	89		$	76		$	78		$	(13	)	$	230
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(2		)	(54		)	(234		)	—			(290		)
(Purchases of)/Proceeds from marketable securities, net	—			(13		)	(50		)	—			(63		)
Other, net	(3		)	—			23			—			20
Cash Provided by (Used for) Investing Activities	(5		)	(67		)	(261		)	—			(333		)
Cash Flows from Financing Activities:
Net change in debt	(1		)	—			(17		)	—			(18		)
Purchases of Tyson Class A common stock	(188		)	—			—			—			(188		)
Dividends	(70		)	—			(13		)	13			(70		)
Other, net	71			—			—			—			71
Net change in intercompany balances	103			4			(107		)	—			—
Cash Provided by (Used for) Financing Activities	(85		)	4			(137		)	13			(205		)
Effect of Exchange Rate Change on Cash	—			—			(1		)	—			(1		)
Increase (Decrease) in Cash and Cash Equivalents	(1		)	13			(321		)	—			(309		)
Cash and Cash Equivalents at Beginning of Year	1			9			1,061			—			1,071
Cash and Cash Equivalents at End of Period	$	—		$	22		$	740		$	—		$	762



Condensed Consolidating Statement of Cash Flows for the six months ended March 31, 2012												in millions
	TFI Parent			TFM Parent			Non- Guarantors			Eliminations		Total
Cash Provided by (Used for) Operating Activities	$	101		$	162		$	191		$	—	$	454
Cash Flows from Investing Activities:
Additions to property, plant and equipment	—			(53		)	(291		)	—		(344		)
(Purchases of)/Proceeds from marketable securities, net	—			(8		)	(4		)	—		(12		)
Other, net	2			2			13			—		17
Cash Provided by (Used for) Investing Activities	2			(59		)	(282		)	—		(339		)
Cash Flows from Financing Activities:
Net change in debt	—			—			15			—		15
Purchases of Tyson Class A common stock	(128		)	—			—			—		(128		)
Dividends	(29		)	—			—			—		(29		)
Other, net	29			—			—			—		29
Net change in intercompany balances	26			(101		)	75			—		—
Cash Provided by (Used for) Financing Activities	(102		)	(101		)	90			—		(113		)
Effect of Exchange Rate Change on Cash	—			—			5			—		5
Increase (Decrease) in Cash and Cash Equivalents	1			2			4			—		7
Cash and Cash Equivalents at Beginning of Year	1			1			714			—		716
Cash and Cash Equivalents at End of Period	$	2		$	3		$	718		$	—	$	723

Accounting Policies (Details) (Variable Interest Entity, Primary Beneficiary [Member], USD $)

In Millions, unless otherwise specified

6 Months Ended

Mar. 30, 2013

Sep. 29, 2012

Variable Interest Entity, Primary Beneficiary [Member]

Accounting Policies [Line Items]

Ownership interest percentage, investment in Dynamic Fuels, LLC joint venture

50.00%

Variable interest entity total assets

$ 169

$ 177

Variable interest entity net property, plant and equipment

145

146

Variable interest entity total liabilities

110

124

Variable interest entity long-term debt

$ 100

Accounting Policies Share Repurchases (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Accounting Policies [Line Items]

Payment for common shares repurchased

$ 188

$ 128

Class A [Member]

Accounting Policies [Line Items]

Common shares repurchased

3.2

4.0

9.1

6.6

Payment for common shares repurchased

73

78

188

128

Share Repurchase Program [Member] |
Class A [Member]

Accounting Policies [Line Items]

Common shares repurchased

2.1

3.6

7.2

5.4

Payment for common shares repurchased

50

70

150

105

Remaining shares available to repurchase

28

Open market repurchases to fund certain obligations under equity compensation plans [Member] |
Class A [Member]

Accounting Policies [Line Items]

Common shares repurchased

1.1

0.4

1.9

1.2

Payment for common shares repurchased

$ 23

$ 8

$ 38

$ 23

Inventories (Schedule Of Inventories Of Processed Products, Livestock, And Supplies Valued At Lower Of Cost Or Market) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Inventory Disclosure [Abstract]

Processed Products - Weighted-average method – chicken and prepared foods

$ 823

$ 754

Processed Products - First-in, first-out method – beef and pork

635

611

Livestock – first-in, first-out method

1,025

952

Supplies and other – weighted-average method

438

492

Total inventories

$ 2,921

$ 2,809

Property, Plant And Equipment (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Property, Plant and Equipment [Line Items]

Property, plant and equipment, gross

$ 9,081

$ 8,883

Less accumulated depreciation

5,079

4,861

Net property, plant and equipment

4,002

4,022

Land [Member]

Property, Plant and Equipment [Line Items]

Property, plant and equipment, gross

102

101

Buildings And Leasehold Improvements [Member]

Property, Plant and Equipment [Line Items]

Property, plant and equipment, gross

2,916

2,868

Machinery And Equipment [Member]

Property, Plant and Equipment [Line Items]

Property, plant and equipment, gross

5,351

5,208

Land Improvements And Other [Member]

Property, Plant and Equipment [Line Items]

Property, plant and equipment, gross

413

408

Buildings And Equipment Under Construction [Member]

Property, Plant and Equipment [Line Items]

Property, plant and equipment, gross

$ 299

$ 298

Other Current Liabilities (Other Current Liabilities) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Other Liabilities, Current [Abstract]

Accrued salaries, wages and benefits

$ 297

$ 382

Self-insurance reserves

279

274

Other

379

287

Total other current liabilities

$ 955

$ 943

Debt (Major Components Of Debt) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Sep. 30, 2008

Debt Instrument [Line Items]

Revolving credit facility

$ 0

Discount on senior notes

(17)

(28)

Other

99

126

Total debt

2,416

2,432

Less current debt

512

515

Total long-term debt

1,904

1,917

3.25% Convertible Senior Unsecured Notes Due October 15, 2013 (2013 Notes) [Member]

Debt Instrument [Line Items]

Senior Notes

458

Stated interest rate

3.25%

6.60% Senior Notes Due April 2016 (2016 Notes) [Member]

Debt Instrument [Line Items]

Senior Notes

638

Interest rate at period end

6.60%

7.00% Notes Due May 2018 [Member]

Debt Instrument [Line Items]

Senior Notes

120

Stated interest rate

7.00%

4.50% Senior Notes Due June 2022 (2022 Notes) [Member]

Debt Instrument [Line Items]

Senior Notes

1,000

Stated interest rate

4.50%

7.00% Notes Due January 2028 [Member]

Debt Instrument [Line Items]

Senior Notes

18

Stated interest rate

7.00%

GO Zone Tax-Exempt Bonds Due October 2033 [Member]

Debt Instrument [Line Items]

GO Zone tax-exempt bonds due October 2033

$ 100

Interest rate at period end

0.15%

Debt (Narrative) (Details) (USD $)

12 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

Mar. 30, 2013

3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]

Sep. 30, 2008

3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]

Oct. 2, 2010

3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]

Accounting Standards Update 2010-11 [Member]

Sep. 30, 2008

3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]

Common Class A [Member]

Mar. 30, 2013

3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]

Common Class A [Member]

Mar. 30, 2013

3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]

Common Class A [Member]

Sep. 27, 2008

2016 Notes [Member]

Jun. 30, 2012

2016 Notes [Member]

Prior To Credit Rating Adjustment [Member]

Jun. 30, 2012

2016 Notes [Member]

After Credit Rating Adjustment [Member]

Nov. 30, 2008

GO Zone Tax-Exempt Bonds Due October 2033 [Member]

Oct. 31, 2008

GO Zone Tax-Exempt Bonds Due October 2033 [Member]

Mar. 30, 2013

GO Zone Tax-Exempt Bonds Due October 2033 [Member]

Mar. 30, 2013

Standby Letters of Credit [Member]

Mar. 30, 2013

Bilateral Letters Of Credit [Member]

Debt Instrument [Line Items]

Amount available under credit facility

$ 1,000,000,000

Amount available for borrowing under credit facility

958,000,000

Letters of credit issued amount

42,000,000

150,000,000

Debt instrument, face amount

458,000,000

Interest rate

3.25%

6.60%

Conversion rate

59.5626

Principal amounts for conversion

1,000

Conversion price, per share

$ 16.79

Initial Dividend Threshold

$ 0.04

Debt Instrument, Convertible, Subordinated Exchangeable Threshold Period, During Trading Period Evaluation

20 days

Debt Instrument, Convertible, Subordinated Exchangeable Trading Period Evaluation in Preceding Quarter

30 days

Minimum percentage of exchange price

130.00%

Minimum trade price

$ 21.83

Debt Instrument, Convertible, Trading Period

5 days

Debt Instrument, Convertible, Subordinated Exchangeable Measurement Period

10 days

Percentage trading price per principal amount, upper limit

98.00%

Debt instrument, interest rate, effective percentage

8.26%

Discount on note recognized from adoption of accounting standard

92,000,000

After tax amount recorded to capital in excess of par value

56,000,000

Discount Accretion Term

5 years

Deferred tax assets

36,000,000

Call options purchased in private transactions - purchase price

94,000,000

Number of class A stock that can be acquired through call options

27,000,000

Option Indexed to Issuer's Equity, Strike Price

16.79

Proceeds from sale of warrants

44,000,000

Shares able to be purchased through warrants

27,000,000

Exercise price of warrants, per share

22.17

Maximum amount of shares that may be issued to satisfy conversion

35,900,000

Increase in stock price that would result in the issuance of additional stock

10.00%

Conversion price factoring convertible note hedge and warrant transactions, per share

$ 22.17

Additional stock issuance if increase in share price of ten percent

2,500,000

Interest rate at period end

6.85%

6.60%

0.15%

Proceeds from the sale of Gulf Opportunity Zone tax-exempt bonds

100,000,000

Interest rate swap period in force

5 years

Syntroleum Corporation Responsibility of Guarantee

50.00%

Syntroleum Corporation Maximum Guarantee Responsibility

$ 50,000,000

Income Taxes (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Sep. 29, 2012

Income Tax Disclosure [Abstract]

Effective tax rate

33.20%

35.30%

35.10%

35.50%

Unrecognized tax benefits

$ 157

$ 168

Unrecognized tax benefits that would impact effective tax rate

151

154

Unrecognized tax benefits, income tax penalties and interest accrued

$ 58

$ 64

Other Income And Charges (Details) (Other Income/Expense [Member], USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Other Income/Expense [Member]

Components of Other Income and Expenses [Line Items]

Recognized currency translation adjustment gain

$ 19

Equity Earnings In Joint Ventures

8

Foreign currency exchange gains

$ 6

Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) (USD $)

In Millions, except Per Share data, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Earnings Per Share, Basic and Diluted [Line Items]

Net Income

$ 106

$ 166

$ 274

$ 322

Less: Net Income Attributable to Noncontrolling Interest

11

0

6

0

Net Income Attributable to Tyson

95

166

268

322

Undistributed earnings

78

152

195

293

Stock options and restricted stock - Dilutive

5

Convertible 2013 Notes and Warrants - Dilutive

8

4

5

4

Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions

366

373

364

374

Net Income Per Share Attributable to Tyson - Diluted

$ 0.26

$ 0.44

$ 0.74

$ 0.86

Class A [Member]

Earnings Per Share, Basic and Diluted [Line Items]

Less Dividends Declared:

14

12

60

24

Undistributed earnings

64

125

160

242

Weighted average number of shares outstanding - Basic

283

294

284

295

Net Income Per Share Attributable to Tyson - Basic

$ 0.27

$ 0.47

$ 0.77

$ 0.90

Class B [Member]

Earnings Per Share, Basic and Diluted [Line Items]

Less Dividends Declared:

3

2

13

5

Undistributed earnings

$ 14

$ 27

$ 35

$ 51

Weighted average number of shares outstanding - Basic

70

Net Income Per Share Attributable to Tyson - Basic

$ 0.25

$ 0.42

$ 0.70

$ 0.81

Earnings Per Share (Narrative) (Details)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Earnings Per Share, Basic and Diluted [Line Items]

Number Of Classes Of Common Stock

2

Percentage amount of per share cash dividends paid to holders of Class B stock that cannot exceed paid to holders of Class A stock

90.00%

Class A [Member]

Earnings Per Share, Basic and Diluted [Line Items]

Undistributed earnings (losses), ratio used to calculate allocation to class of stock

1

Class B [Member]

Earnings Per Share, Basic and Diluted [Line Items]

Undistributed earnings (losses), ratio used to calculate allocation to class of stock

0.9

Stock Compensation Plan [Member]

Earnings Per Share, Basic and Diluted [Line Items]

Antidilutive securities excluded from computation of earnings per share, shares

4

6

4

Derivative Financial Instruments (Aggregate Outstanding Notionals Related To Cash Flow Hedges) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Derivative [Line Items]

Aggregate notional of derivative designated as hedging, Foreign Currency

$ 84

$ 80

Cash Flow Hedging [Member] |
Designated as Hedging Instrument [Member] |
Corn (in bushels)

Derivative [Line Items]

Aggregate notional amount, Commodity (Volume)

28,000,000

12,000,000

Cash Flow Hedging [Member] |
Designated as Hedging Instrument [Member] |
Soy Meal (in tons)

Derivative [Line Items]

Aggregate notional amount, Commodity (Mass)

177,400

164,700

Derivative Financial Instruments (Pretax Impact Of Cash Flow Hedge Derivative Instruments On The Consolidated Statements Of Income) (Details) (Cash Flow Hedging [Member], USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Derivative [Line Items]

Gain/(Loss) Recognized in OCI on Derivatives

$ (15)

$ 2

$ (28)

$ (1)

Gain/(Loss) Reclassified from OCI to Earnings

(7)

(10)

(5)

(11)

Commodity Contracts [Member]

Derivative [Line Items]

Gain/(Loss) Recognized in OCI on Derivatives

(10)

4

(23)

6

Commodity Contracts [Member] |
Cost of Sales [Member]

Derivative [Line Items]

Gain/(Loss) Reclassified from OCI to Earnings

(7)

(10)

(3)

(16)

Foreign Exchange Contracts [Member]

Derivative [Line Items]

Gain/(Loss) Recognized in OCI on Derivatives

(5)

(2)

(5)

(7)

Foreign Exchange Contracts [Member] |
Other Income/Expense [Member]

Derivative [Line Items]

Gain/(Loss) Reclassified from OCI to Earnings

$ 0

$ (2)

$ 5

Derivative Financial Instruments (Aggregate Outstanding Notionals Related To Fair Value Hedges) (Details) (Fair Value Hedging [Member], Designated as Hedging Instrument [Member])

Mar. 30, 2013

lb

Sep. 29, 2012

lb

Live Cattle (in pounds)

Derivative [Line Items]

Aggregate notional amount, Commodity (Mass)

157,000,000

232,000,000

Lean Hogs (in pounds)

Derivative [Line Items]

Aggregate notional amount, Commodity (Mass)

162,000,000

239,000,000

Derivative Financial Instruments (Pretax Impact Of Fair Value Hedge Derivative Instruments On The Consolidated Statements of Income) (Details) (Fair Value Hedging [Member], Cost of Sales [Member], USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Forward Contracts [Member]

Derivative [Line Items]

Gain/(Loss) on forwards

$ 11

$ 8

$ 15

$ 0

Purchase Contracts [Member]

Derivative [Line Items]

Gain/(Loss) on forwards

$ (11)

$ (8)

$ (15)

$ 0

Derivative Financial Instruments (Pretax Impact Of Net Investment Hedge Derivative Instruments On The Consolidated Statements Of Income) (Details) (Net Investment Hedging [Member], Foreign Exchange Contracts [Member], USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Derivative [Line Items]

Gain/(Loss) Recognized in OCI on Derivatives

$ 0

$ (1)

$ 0

$ (2)

Other Income/Expense [Member]

Derivative [Line Items]

Gain/(Loss) Reclassified from OCI to Earnings

$ (4)

$ 0

$ (4)

$ 0

Derivative Financial Instruments (Aggregate Outstanding Notionals Related To Undesignated Positions) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Foreign Currency [Member]

Derivative [Line Items]

Notional amount of undesignated derivatives

$ 139

$ 165

Interest Rate [Member]

Derivative [Line Items]

Notional amount of undesignated derivatives

$ 25

$ 27

Not Designated as Hedging Instrument [Member] |
Corn (in bushels)

Derivative [Line Items]

Aggregate notional amount, Commodity (Volume)

15,000,000

19,000,000

Not Designated as Hedging Instrument [Member] |
Soy Meal (in tons)

Derivative [Line Items]

Aggregate notional amount, Commodity (Mass)

167,100

1,200

Not Designated as Hedging Instrument [Member] |
Soy Oil (in pounds)

Derivative [Line Items]

Aggregate notional amount, Commodity (Mass)

0

17,000,000

Not Designated as Hedging Instrument [Member] |
Live Cattle (in pounds)

Derivative [Line Items]

Aggregate notional amount, Commodity (Mass)

229,000,000

68,000,000

Not Designated as Hedging Instrument [Member] |
Lean Hogs (in pounds)

Derivative [Line Items]

Aggregate notional amount, Commodity (Mass)

6,000,000

108,000,000

Derivative Financial Instruments (Pretax Impact Of Undesignated Derivative Instruments On The Consolidated Statements Of Income) (Details) (Not Designated as Hedging Instrument [Member], USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Derivative [Line Items]

Gain/(Loss) Recognized in Earnings

$ (22)

$ 20

$ (17)

$ 49

Commodity Contracts [Member] |
Sales [Member]

Derivative [Line Items]

Gain/(Loss) Recognized in Earnings

(23)

(6)

(12)

(9)

Commodity Contracts [Member] |
Cost of Sales [Member]

Derivative [Line Items]

Gain/(Loss) Recognized in Earnings

0

29

(7)

58

Foreign Exchange Contracts [Member] |
Other Income/Expense [Member]

Derivative [Line Items]

Gain/(Loss) Recognized in Earnings

$ 1

$ (3)

$ 2

$ 0

Derivative Financial Instruments (Fair Value Of All Derivative Instruments) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Derivative [Line Items]

Derivative Assets

$ 39

$ 54

Derivative Liabilities

160

105

Designated as Hedging Instrument [Member]

Derivative [Line Items]

Derivative Liabilities

13

7

Designated as Hedging Instrument [Member] |
Commodity Contracts [Member]

Derivative [Line Items]

Derivative Assets

18

32

Derivative Liabilities

9

6

Designated as Hedging Instrument [Member] |
Foreign Exchange Contracts [Member]

Derivative [Line Items]

Derivative Liabilities

4

1

Not Designated as Hedging Instrument [Member]

Derivative [Line Items]

Derivative Assets

21

22

Derivative Liabilities

147

98

Not Designated as Hedging Instrument [Member] |
Commodity Contracts [Member]

Derivative [Line Items]

Derivative Assets

20

21

Derivative Liabilities

145

96

Not Designated as Hedging Instrument [Member] |
Foreign Exchange Contracts [Member]

Derivative [Line Items]

Derivative Assets

1

Derivative Liabilities

2

Not Designated as Hedging Instrument [Member] |
Interest Rate Contracts [Member]

Derivative [Line Items]

Derivative Liabilities

$ 0

Derivative Financial Instruments (Narrative) (Details) (USD $)

6 Months Ended

Mar. 30, 2013

Designated as Hedging Instrument [Member]

Mar. 30, 2013

Not Designated as Hedging Instrument [Member]

Mar. 30, 2013

Net Investment Hedging [Member]

Sep. 29, 2012

Net Investment Hedging [Member]

Mar. 30, 2013

Grain [Member]

Mar. 30, 2013

Foreign Exchange Contracts [Member]

Derivative [Line Items]

Maximum Length of Time Hedged in Cash Flow Hedge

18 months

Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months

$ (3,000,000)

$ (4,000,000)

Notional Amount of Foreign Currency Derivatives

$ 0

$ 27,000,000

Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets and liabilities posted cash collateral

$ 103

$ 59

Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign Exchange Forward Contracts, Assets

1

0

Available-for-Sale Securities, Current

47

3

Available for Sale Securities, Noncurrent

92

117

Deferred Compensation Assets

207

180

Total Assets

349

313

Foreign Exchange Forward Contracts, Liabilities

6

3

Total Liabilities

21

5

Fair Value, Measurements, Recurring [Member] |
Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign Exchange Forward Contracts, Assets

0

Available-for-Sale Securities, Current

0

Available for Sale Securities, Noncurrent

3

6

Deferred Compensation Assets

22

31

Total Assets

25

37

Foreign Exchange Forward Contracts, Liabilities

0

Total Liabilities

0

Fair Value, Measurements, Recurring [Member] |
Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign Exchange Forward Contracts, Assets

1

Available-for-Sale Securities, Current

47

3

Available for Sale Securities, Noncurrent

24

25

Deferred Compensation Assets

185

149

Total Assets

295

231

Foreign Exchange Forward Contracts, Liabilities

6

3

Total Liabilities

160

105

Fair Value, Measurements, Recurring [Member] |
Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign Exchange Forward Contracts, Assets

0

Available-for-Sale Securities, Current

0

Available for Sale Securities, Noncurrent

65

86

Deferred Compensation Assets

0

Total Assets

65

86

Foreign Exchange Forward Contracts, Liabilities

0

Total Liabilities

0

Fair Value, Measurements, Recurring [Member] |
Netting [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Foreign Exchange Forward Contracts, Assets

0

(1)

Available-for-Sale Securities, Current

0

Available for Sale Securities, Noncurrent

0

Deferred Compensation Assets

0

Total Assets

(36)

(41)

Foreign Exchange Forward Contracts, Liabilities

0

Total Liabilities

(139)

(100)

Commodity [Member] |
Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Commodity Derivatives

2

13

Derivative Financial Instruments, Liabilities

15

2

Commodity [Member] |
Fair Value, Measurements, Recurring [Member] |
Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Commodity Derivatives

0

Derivative Financial Instruments, Liabilities

0

Commodity [Member] |
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Commodity Derivatives

38

53

Derivative Financial Instruments, Liabilities

154

102

Commodity [Member] |
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Commodity Derivatives

0

Derivative Financial Instruments, Liabilities

0

Commodity [Member] |
Fair Value, Measurements, Recurring [Member] |
Netting [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Commodity Derivatives

(36)

(40)

Derivative Financial Instruments, Liabilities

(139)

(100)

Interest Rate Swap [Member] |
Fair Value, Measurements, Recurring [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Financial Instruments, Liabilities

0

Interest Rate Swap [Member] |
Fair Value, Measurements, Recurring [Member] |
Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Financial Instruments, Liabilities

0

Interest Rate Swap [Member] |
Fair Value, Measurements, Recurring [Member] |
Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Financial Instruments, Liabilities

0

Interest Rate Swap [Member] |
Fair Value, Measurements, Recurring [Member] |
Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Financial Instruments, Liabilities

0

Interest Rate Swap [Member] |
Fair Value, Measurements, Recurring [Member] |
Netting [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Financial Instruments, Liabilities

$ 0

Fair Value Measurements (Schedule Of Debt Securities Measured At Fair Value On A Recurring Basis, Unobservable Input Reconciliation) (Details) (USD $)

In Millions, unless otherwise specified

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Balance at beginning of year

$ 86

$ 83

Total realized gains (losses) included in earnings

1

Total unrealized gains (losses) included in other comprehensive income (loss)

0

Purchases

9

12

Issuances

0

Settlements

(31)

(17)

Balance at end of period

65

79

Total gains (losses) for the three-month period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of period

$ 0

Fair Value Measurements (Schedule Of Available For Sale Securities) (Details) (USD $)

Share data in Millions, unless otherwise specified

6 Months Ended

12 Months Ended

Mar. 30, 2013

Sep. 29, 2012

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other than Temporary Impairment Losses, Investments, Available-for-sale Securities

$ 1,000,000

$ 2,000,000

U.S. Treasury and Agency [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Amortized Cost Basis

24,000,000

26,000,000

Fair Value

26,000,000

27,000,000

Unrealized Gain/(Loss)

2,000,000

1,000,000

Certificates of Deposit and Commercial Paper [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Amortized Cost Basis

45,000,000

0

Fair Value

45,000,000

0

Unrealized Gain/(Loss)

0

Corporate And Asset-Backed [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Amortized Cost Basis

64,000,000

Fair Value

65,000,000

66,000,000

Unrealized Gain/(Loss)

1,000,000

2,000,000

Redeemable Preferred Stock [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Amortized Cost Basis

0

20,000,000

Fair Value

0

20,000,000

Unrealized Gain/(Loss)

0

Common Stock and Warrants [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Amortized Cost Basis

9,000,000

Fair Value

3,000,000

7,000,000

Unrealized Gain/(Loss)

(6,000,000)

(2,000,000)

Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Number of shares of Syntroleum Corporation acquired

8

Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Number of warrants to purchase equivalent amount of shares in Syntroleum Corporation

4.25

Exercise price of warrants to purchase shares of Sytroleum Corporation (USD per warrant)

$ 2.87

Maximum [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Short Term Investment Maturity Period

12 months

Available For Sale Securities Debt Maturity Period

35 years

Fair Value Measurements (Schedule Of Fair Value And Carrying Value Of Debt) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Fair Value Disclosures [Abstract]

Total Debt, Fair Value

$ 2,617

$ 2,596

Total Debt, Carrying Value

$ 2,416

$ 2,432

Fair Value Measurements Fair Value Measurement (Narrative) (Details) (Fair Value, Measurements, Nonrecurring [Member], Non-core Assets in China [Member], Level 3 [Member], USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Fair Value, Measurements, Nonrecurring [Member] |
Non-core Assets in China [Member] |
Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Impairment Charge

$ 56

Other Comprehensive Income (Components Of Other Comprehensive Income (Loss)) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Other Comprehensive Income Loss [Line Items]

Total Other Comprehensive Income (Loss), Before Tax

$ (20)

$ 40

$ (39)

$ 44

Total Other Comprehensive Income (Loss), Tax

1

(5)

9

(5)

Total Other Comprehensive Income (Loss), Net of Taxes

(19)

35

(30)

39

Derivatives accounted for as cash flow hedges [Member]

Other Comprehensive Income Loss [Line Items]

Other Comprehensive Income (Loss), Before Reclassifications, Before Tax

(15)

2

(28)

(1)

Other Comprehensive Income (Loss), Before Reclassifications, Tax

6

(1)

11

0

Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax

(9)

1

(17)

(1)

Derivatives accounted for as cash flow hedges [Member] |
Cost of Sales [Member]

Other Comprehensive Income Loss [Line Items]

Reclassification from Accumulated Other Comprehensive Income, Before Tax

7

10

3

16

Reclassification from Accumulated Other Comprehensive Income, Tax

(3)

(4)

(1)

(6)

Reclassification from Accumulated Other Comprehensive Income, Net of Tax

4

6

2

10

Derivatives accounted for as cash flow hedges [Member] |
Other Income/Expense [Member]

Other Comprehensive Income Loss [Line Items]

Reclassification from Accumulated Other Comprehensive Income, Before Tax

0

2

(5)

Reclassification from Accumulated Other Comprehensive Income, Tax

0

(1)

2

Reclassification from Accumulated Other Comprehensive Income, Net of Tax

0

1

(3)

Investments [Member]

Other Comprehensive Income Loss [Line Items]

Other Comprehensive Income (Loss), Before Reclassifications, Before Tax

1

0

(3)

2

Other Comprehensive Income (Loss), Before Reclassifications, Tax

(1)

0

1

(1)

Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax

0

(2)

1

Investments [Member] |
Other Income/Expense [Member]

Other Comprehensive Income Loss [Line Items]

Reclassification from Accumulated Other Comprehensive Income, Before Tax

(1)

0

(1)

0

Reclassification from Accumulated Other Comprehensive Income, Tax

0

Reclassification from Accumulated Other Comprehensive Income, Net of Tax

(1)

0

(1)

0

Currency translation [Member]

Other Comprehensive Income Loss [Line Items]

Other Comprehensive Income (Loss), Before Reclassifications, Before Tax

5

27

4

30

Other Comprehensive Income (Loss), Before Reclassifications, Tax

0

Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax

5

27

4

30

Currency translation [Member] |
Other Income/Expense [Member]

Other Comprehensive Income Loss [Line Items]

Reclassification from Accumulated Other Comprehensive Income, Before Tax

(19)

0

(19)

0

Reclassification from Accumulated Other Comprehensive Income, Tax

(1)

0

(1)

0

Reclassification from Accumulated Other Comprehensive Income, Net of Tax

(20)

0

(20)

0

Postretirement benefits [Member]

Other Comprehensive Income Loss [Line Items]

Total Other Comprehensive Income (Loss), Before Tax

2

1

3

2

Total Other Comprehensive Income (Loss), Tax

0

Total Other Comprehensive Income (Loss), Net of Taxes

$ 2

$ 1

$ 3

$ 2

Segment Reporting (Segment Reporting Information, By Segment) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Segment Reporting Information [Line Items]

Sales

$ 8,419

$ 8,268

$ 16,821

$ 16,597

Operating Income (Loss)

174

302

474

580

Total Other (Income) Expense

15 ¹

45

51 ¹

80

Income before Income Taxes

159

257

423

500

Chicken [Member]

Segment Reporting Information [Line Items]

Sales

3,094

2,911

6,050

5,673

Operating Income (Loss)

78 ²

145

185 ²

177

Chicken [Member] |
Non-core Assets in China [Member]

Segment Reporting Information [Line Items]

Impairment Charge

56

Beef [Member]

Segment Reporting Information [Line Items]

Sales

3,447

3,369

6,932

6,836

Operating Income (Loss)

(26)

(1)

20

30

Pork [Member]

Segment Reporting Information [Line Items]

Sales

1,311

1,372

2,674

2,847

Operating Income (Loss)

72

115

197

280

Prepared Foods [Member]

Segment Reporting Information [Line Items]

Sales

803

807

1,644

1,668

Operating Income (Loss)

28

44

61

95

Other [Member]

Segment Reporting Information [Line Items]

Sales

27

46

47

100

Operating Income (Loss)

22

(1)

11

(2)

Intersegment Sales [Member]

Segment Reporting Information [Line Items]

Sales

(263)

(237)

(526)

(527)

Other Income/Expense [Member]

Segment Reporting Information [Line Items]

Recognized currency translation adjustment gain

$ 19

[1] Includes $19 million related to the recognized currency translation adjustment gain

[2] Includes $56 million charge related to the impairment of non-core assets in China

Segment Reporting (Narrative) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Segment Reporting Information [Line Items]

Number of segments

4

Intersegment Elimination [Member] |
Beef [Member]

Segment Reporting Information [Line Items]

Intersegment Sales

$ 54

$ 49

$ 97

$ 113

Intersegment Elimination [Member] |
Pork [Member]

Segment Reporting Information [Line Items]

Intersegment Sales

$ 209

$ 188

$ 429

$ 414

Commitments And Contingencies Commitments (Details) (USD $)

In Millions, unless otherwise specified

6 Months Ended

Mar. 30, 2013

Sep. 29, 2012

Mar. 30, 2013

Guarantee of Indebtedness of Others [Member]

Mar. 30, 2013

Residual Value Guarantees [Member]

Guarantor Obligations [Line Items]

Guarantor Obligations, Maximum Exposure, Period (in years)

10 years

Maximum potential amount

$ 70

$ 56

Guarantor Obligations, Maximum Exposure, Remaining Lease Period (in years)

7 years

Amount recoverable through various recourse provisions

50

Potential maximum obligation under cash flow assistance programs

290

Total receivables under cash flow assistance programs

54

25

Uncollectible receivables estimated under cash flow assistance programs

$ 16

$ 10

Commitments And Contingencies Contingencies (Details) (USD $)

0 Months Ended

1 Months Ended

Oct. 20, 2010

Tyson Fresh Meats Inc [Member]

Claims

Dec. 7, 2012

Garcia Case [Member]

Mar. 17, 2011

Garcia Case [Member]

Sep. 26, 2011

Bouaphakeo Case [Member]

Oct. 31, 2012

Bouaphakeo Case [Member]

Oct. 31, 2010

Tyson Prepared Foods Plant [Member]

Plantiffs

Oct. 20, 2010

Tyson Prepared Foods Plant [Member]

Claims

Jun. 30, 2005

Attorney General and the Secretary of the Environment of the State Of Oklahoma [Member]

acre

Jun. 30, 2005

Attorney General and the Secretary of the Environment of the State Of Oklahoma [Member]

Poultry Integrators [Member]

Integrators

Jun. 30, 2005

Attorney General and the Secretary of the Environment of the State Of Oklahoma [Member]

Subsidiaries [Member]

Subsidiary

Dec. 31, 2010

United States Environmental Protection Agency [Member]

Facilities

Mar. 30, 2013

EPA Civil Penalties [Member]

Mar. 30, 2013

EPA Environmental Projects [Member]

Loss Contingencies [Line Items]

Number of cases filed

11

1

Loss Contingency, Damages Awarded, Value

$ 503,011

$ 5,784,758

Granted application for attorneys fees and expenses

3,609,723

Filed application for attorneys' fees and expenses

2,692,145

Loss Contingency, Number of Plaintiffs

6

Loss Contingency, Number of Defendants

6

3

Area of land encompassed, acres

1,000,000

Loss contingency, damages sought

800,000,000

Tyson Facilities

23

Loss Contingency, Settlement Agreement, Consideration

$ 3,950,000

$ 300,000

Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Income and Comprehensive Income) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Mar. 30, 2013

Mar. 31, 2012

Condensed Financial Statements, Captions [Line Items]

Sales

$ 8,419

$ 8,268

$ 16,821

$ 16,597

Cost of Sales

8,011

7,733

15,876

15,569

Gross Profit

408

535

945

1,028

Selling, General and Administrative

234

233

471

448

Operating Income

174

302

474

580

Other (Income) Expense:

Interest expense, net

34

47

70

94

Other, net

(19)

(2)

(19)

(14)

Equity in net earnings of subsidiaries

0

Total Other (Income) Expense

15 ¹

45

51 ¹

80

Income (Loss) before Income Taxes

159

257

423

500

Income Tax (Benefit) Expense

53

91

149

178

Net Income (Loss)

106

166

274

322

Less: Net Income (Loss) Attributable to Noncontrolling Interest

11

0

6

0

Net Income (Loss) Attributable to Tyson

95

166

268

322

Comprehensive Income (Loss)

87

201

244

361

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest

11

0

6

0

Comprehensive Income Attributable to Tyson

76

201

238

361

TFI Parent [Member]

Condensed Financial Statements, Captions [Line Items]

Sales

101

76

176

128

Cost of Sales

11

(16)

27

(8)

Gross Profit

90

92

149

136

Selling, General and Administrative

12

9

32

21

Operating Income

78

83

117

115

Other (Income) Expense:

Interest expense, net

9

2

17

(11)

Other, net

4

(1)

4

0

Equity in net earnings of subsidiaries

(51)

(107)

(200)

(234)

Total Other (Income) Expense

(38)

(106)

(179)

(245)

Income (Loss) before Income Taxes

116

189

296

360

Income Tax (Benefit) Expense

21

23

28

38

Net Income (Loss)

95

166

268

322

Less: Net Income (Loss) Attributable to Noncontrolling Interest

0

Net Income (Loss) Attributable to Tyson

95

166

268

322

Comprehensive Income (Loss)

87

201

244

361

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest

0

Comprehensive Income Attributable to Tyson

87

201

244

361

TFM Parent, Guarantors [Member]

Condensed Financial Statements, Captions [Line Items]

Sales

4,552

4,620

9,302

9,461

Cost of Sales

4,479

4,469

9,017

9,111

Gross Profit

73

151

285

350

Selling, General and Administrative

45

57

97

107

Operating Income

28

94

188

243

Other (Income) Expense:

Interest expense, net

15

24

31

56

Other, net

0

Equity in net earnings of subsidiaries

10

(29)

(14)

(55)

Total Other (Income) Expense

25

(5)

17

1

Income (Loss) before Income Taxes

3

99

171

242

Income Tax (Benefit) Expense

2

24

53

64

Net Income (Loss)

1

75

118

178

Less: Net Income (Loss) Attributable to Noncontrolling Interest

0

Net Income (Loss) Attributable to Tyson

1

75

118

178

Comprehensive Income (Loss)

(22)

105

99

205

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest

0

Comprehensive Income Attributable to Tyson

(22)

105

99

205

Non-Guarantors [Member]

Condensed Financial Statements, Captions [Line Items]

Sales

4,044

3,866

7,948

7,627

Cost of Sales

3,799

3,573

7,437

7,084

Gross Profit

245

293

511

543

Selling, General and Administrative

177

168

342

321

Operating Income

68

125

169

222

Other (Income) Expense:

Interest expense, net

10

21

22

49

Other, net

(23)

(1)

(23)

(14)

Equity in net earnings of subsidiaries

0

11

0

Total Other (Income) Expense

(13)

31

(1)

35

Income (Loss) before Income Taxes

81

94

170

187

Income Tax (Benefit) Expense

30

44

68

76

Net Income (Loss)

51

50

102

111

Less: Net Income (Loss) Attributable to Noncontrolling Interest

11

0

6

0

Net Income (Loss) Attributable to Tyson

40

50

96

111

Comprehensive Income (Loss)

(19)

88

31

139

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest

11

0

6

0

Comprehensive Income Attributable to Tyson

(30)

88

25

139

Eliminations [Member]

Condensed Financial Statements, Captions [Line Items]

Sales

(278)

(294)

(605)

(619)

Cost of Sales

(278)

(293)

(605)

(618)

Gross Profit

0

(1)

0

(1)

Selling, General and Administrative

0

(1)

0

(1)

Operating Income

0

Other (Income) Expense:

Interest expense, net

0

Other, net

0

Equity in net earnings of subsidiaries

41

125

214

289

Total Other (Income) Expense

41

125

214

289

Income (Loss) before Income Taxes

(41)

(125)

(214)

(289)

Income Tax (Benefit) Expense

0

Net Income (Loss)

(41)

(125)

(214)

(289)

Less: Net Income (Loss) Attributable to Noncontrolling Interest

0

Net Income (Loss) Attributable to Tyson

(41)

(125)

(214)

(289)

Comprehensive Income (Loss)

41

(193)

(130)

(344)

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest

0

Comprehensive Income Attributable to Tyson

$ 41

$ (193)

$ (130)

$ (344)

[1] Includes $19 million related to the recognized currency translation adjustment gain

Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 30, 2013

Sep. 29, 2012

Mar. 31, 2012

Oct. 1, 2011

Assets

Cash and cash equivalents

$ 762

$ 1,071

$ 723

$ 716

Accounts receivable, net

1,428

1,378

Inventories

2,921

2,809

Other current assets

188

145

Total Current Assets

5,299

5,403

Net Property, Plant and Equipment

4,002

4,022

Goodwill

1,892

1,891

Intangible Assets

115

129

Other Assets

481

451

Investment in Subsidiaries

0

Total Assets

11,789

11,896

Liabilities and Shareholders' Equity

Current debt

512

515

Accounts payable

1,265

1,372

Other current liabilities

955

943

Total Current Liabilities

2,732

2,830

Long-Term Debt

1,904

1,917

Deferred Income Taxes

498

558

Other Liabilities

541

549

Total Tyson Shareholders' Equity

6,076

6,012

Noncontrolling Interest

38

30

Total Shareholders' Equity

6,114

6,042

Total Liabilities and Shareholders' Equity

11,789

11,896

TFI Parent [Member]

Assets

Cash and cash equivalents

0

1

2

1

Accounts receivable, net

0

1

Inventories

1

0

Other current assets

403

139

Total Current Assets

404

141

Net Property, Plant and Equipment

32

31

Goodwill

0

Intangible Assets

0

Other Assets

905

1,257

Investment in Subsidiaries

11,493

11,849

Total Assets

12,834

13,278

Liabilities and Shareholders' Equity

Current debt

451

439

Accounts payable

20

10

Other current liabilities

4,363

4,887

Total Current Liabilities

4,834

5,336

Long-Term Debt

1,771

1,774

Deferred Income Taxes

0

Other Liabilities

153

156

Total Tyson Shareholders' Equity

6,076

6,012

Noncontrolling Interest

0

Total Shareholders' Equity

6,076

6,012

Total Liabilities and Shareholders' Equity

12,834

13,278

TFM Parent, Guarantors [Member]

Assets

Cash and cash equivalents

22

9

3

1

Accounts receivable, net

534

499

Inventories

1,015

950

Other current assets

84

100

Total Current Assets

1,655

1,558

Net Property, Plant and Equipment

874

873

Goodwill

881

Intangible Assets

23

26

Other Assets

163

151

Investment in Subsidiaries

2,001

2,005

Total Assets

5,597

5,494

Liabilities and Shareholders' Equity

Current debt

133

0

Accounts payable

552

558

Other current liabilities

158

144

Total Current Liabilities

843

702

Long-Term Debt

678

809

Deferred Income Taxes

127

135

Other Liabilities

140

146

Total Tyson Shareholders' Equity

3,809

3,702

Noncontrolling Interest

0

Total Shareholders' Equity

3,809

3,702

Total Liabilities and Shareholders' Equity

5,597

5,494

Non-Guarantors [Member]

Assets

Cash and cash equivalents

740

1,061

718

714

Accounts receivable, net

894

878

Inventories

1,905

1,859

Other current assets

179

90

Total Current Assets

3,718

3,888

Net Property, Plant and Equipment

3,096

3,118

Goodwill

1,011

1,010

Intangible Assets

92

103

Other Assets

246

251

Investment in Subsidiaries

0

Total Assets

8,163

8,370

Liabilities and Shareholders' Equity

Current debt

293

167

Accounts payable

693

804

Other current liabilities

797

766

Total Current Liabilities

1,783

1,737

Long-Term Debt

257

486

Deferred Income Taxes

372

432

Other Liabilities

279

294

Total Tyson Shareholders' Equity

5,434

5,391

Noncontrolling Interest

38

30

Total Shareholders' Equity

5,472

5,421

Total Liabilities and Shareholders' Equity

8,163

8,370

Eliminations [Member]

Assets

Cash and cash equivalents

0

Accounts receivable, net

0

Inventories

0

Other current assets

(478)

(184)

Total Current Assets

(478)

(184)

Net Property, Plant and Equipment

0

Goodwill

0

Intangible Assets

0

Other Assets

(833)

(1,208)

Investment in Subsidiaries

(13,494)

(13,854)

Total Assets

(14,805)

(15,246)

Liabilities and Shareholders' Equity

Current debt

(365)

(91)

Accounts payable

0

Other current liabilities

(4,363)

(4,854)

Total Current Liabilities

(4,728)

(4,945)

Long-Term Debt

(802)

(1,152)

Deferred Income Taxes

(1)

(9)

Other Liabilities

(31)

(47)

Total Tyson Shareholders' Equity

(9,243)

(9,093)

Noncontrolling Interest

0

Total Shareholders' Equity

(9,243)

(9,093)

Total Liabilities and Shareholders' Equity

$ (14,805)

$ (15,246)

Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $)

In Millions, unless otherwise specified

6 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Condensed Financial Statements, Captions [Line Items]

Cash Provided by (Used for) Operating Activities

$ 230

$ 454

Cash Flows From Investing Activities:

Additions to property, plant and equipment

(290)

(344)

(Purchases of)/ Proceeds from marketable securities, net

(63)

(12)

Other, net

20

17

Cash Used for Investing Activities

(333)

(339)

Cash Flows From Financing Activities:

Net change in debt

(18)

15

Purchases of Tyson Class A common stock

(188)

(128)

Dividends

(70)

(29)

Other, net

71

29

Net change in intercompany balances

0

Cash Used for Financing Activities

(205)

(113)

Effect of Exchange Rate Change on Cash

(1)

5

Increase (Decrease) in Cash and Cash Equivalents

(309)

7

Cash and Cash Equivalents at Beginning of Year

1,071

716

Cash and Cash Equivalents at End of Period

762

723

TFI Parent [Member]

Condensed Financial Statements, Captions [Line Items]

Cash Provided by (Used for) Operating Activities

89

101

Cash Flows From Investing Activities:

Additions to property, plant and equipment

(2)

0

(Purchases of)/ Proceeds from marketable securities, net

0

Other, net

(3)

2

Cash Used for Investing Activities

(5)

2

Cash Flows From Financing Activities:

Net change in debt

(1)

0

Purchases of Tyson Class A common stock

(188)

(128)

Dividends

(70)

(29)

Other, net

71

29

Net change in intercompany balances

103

26

Cash Used for Financing Activities

(85)

(102)

Effect of Exchange Rate Change on Cash

0

Increase (Decrease) in Cash and Cash Equivalents

(1)

1

Cash and Cash Equivalents at Beginning of Year

1

Cash and Cash Equivalents at End of Period

0

2

TFM Parent, Guarantors [Member]

Condensed Financial Statements, Captions [Line Items]

Cash Provided by (Used for) Operating Activities

76

162

Cash Flows From Investing Activities:

Additions to property, plant and equipment

(54)

(53)

(Purchases of)/ Proceeds from marketable securities, net

(13)

(8)

Other, net

0

2

Cash Used for Investing Activities

(67)

(59)

Cash Flows From Financing Activities:

Net change in debt

0

Purchases of Tyson Class A common stock

0

Dividends

0

Other, net

0

Net change in intercompany balances

4

(101)

Cash Used for Financing Activities

4

(101)

Effect of Exchange Rate Change on Cash

0

Increase (Decrease) in Cash and Cash Equivalents

13

2

Cash and Cash Equivalents at Beginning of Year

9

1

Cash and Cash Equivalents at End of Period

22

3

Non-Guarantors [Member]

Condensed Financial Statements, Captions [Line Items]

Cash Provided by (Used for) Operating Activities

78

191

Cash Flows From Investing Activities:

Additions to property, plant and equipment

(234)

(291)

(Purchases of)/ Proceeds from marketable securities, net

(50)

(4)

Other, net

23

13

Cash Used for Investing Activities

(261)

(282)

Cash Flows From Financing Activities:

Net change in debt

(17)

15

Purchases of Tyson Class A common stock

0

Dividends

(13)

0

Other, net

0

Net change in intercompany balances

(107)

75

Cash Used for Financing Activities

(137)

90

Effect of Exchange Rate Change on Cash

(1)

5

Increase (Decrease) in Cash and Cash Equivalents

(321)

4

Cash and Cash Equivalents at Beginning of Year

1,061

714

Cash and Cash Equivalents at End of Period

740

718

Eliminations [Member]

Condensed Financial Statements, Captions [Line Items]

Cash Provided by (Used for) Operating Activities

(13)

0

Cash Flows From Investing Activities:

Additions to property, plant and equipment

0

(Purchases of)/ Proceeds from marketable securities, net

0

Other, net

0

Cash Used for Investing Activities

0

Cash Flows From Financing Activities:

Net change in debt

0

Purchases of Tyson Class A common stock

0

Dividends

13

0

Other, net

0

Net change in intercompany balances

0

Cash Used for Financing Activities

13

0

Effect of Exchange Rate Change on Cash

0

Increase (Decrease) in Cash and Cash Equivalents

0

Cash and Cash Equivalents at Beginning of Year

0

Cash and Cash Equivalents at End of Period

$ 0

Condensed Consolidating Financial Statements Condensed Consolidating Financial Statements (Narrative) (Details) (USD $)

In Billions, unless otherwise specified

Mar. 30, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Amount available under credit facility

$ 1.0