TYSON FOODS INC, 10-Q filed on 8/5/2013
Quarterly Report
Document and Entity Information
9 Months Ended
Jun. 29, 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
Jun. 29, 2013 
Document Fiscal Year Focus
2013 
Document Fiscal Period Focus
Q3 
Amendment Flag
false 
Class A [Member]
 
Entity Common Stock, Shares Outstanding
282,195,269 
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 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Sales
$ 8,731 
$ 8,261 
$ 25,480 
$ 24,740 
Cost of Sales
8,049 
7,695 
23,791 
23,140 
Gross Profit
682 
566 
1,689 
1,600 
Selling, General and Administrative
263 
224 
730 
668 
Operating Income
419 
342 
959 
932 
Other (Income) Expense:
 
 
 
 
Interest income
(2)
(2)
(5)
(9)
Interest expense
36 
215 
109 
316 
Other, net
0 
(3)
(19)
(17)
Total Other (Income) Expense
34 
210 1
85 2
290 1
Income from Continuing Operations before Income Taxes
385 
132 
874 
642 
Income Tax Expense
136 
53 
285 
231 
Income from Continuing Operations
249 
79 
589 
411 
Loss from Discontinued Operation, Net of Tax
(4)
(6)
(70)
(16)
Net Income
245 
73 
519 
395 
Less: Net Income (Loss) Attributable to Noncontrolling Interest
(4)
(3)
2 
(3)
Net Income Attributable to Tyson
249 
76 
517 
398 
Amounts attributable to Tyson:
 
 
 
 
Net Income from Continuing Operations
253 
82 
587 
414 
Net Loss from Discontinued Operation
$ (4)
$ (6)
$ (70)
$ (16)
Weighted Average Shares Outstanding:
 
 
 
 
Diluted, Shares
369 
369 
366 
373 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
 
Diluted (USD per share)
$ 0.69 
$ 0.22 
$ 1.61 
$ 1.11 
Net Loss Per Share from Discontinued Operation Attributable to Tyson:
 
 
 
 
Diluted (USD per share)
$ (0.01)
$ (0.01)
$ (0.19)
$ (0.04)
Earnings Per Share [Abstract]
 
 
 
 
Diluted (USD per share)
$ 0.68 
$ 0.21 
$ 1.42 
$ 1.07 
Class A [Member]
 
 
 
 
Weighted Average Shares Outstanding:
 
 
 
 
Basic, Shares
283 
291 
284 
294 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
 
Basic (USD per share)
$ 0.73 
$ 0.23 
$ 1.69 
$ 1.16 
Net Loss Per Share from Discontinued Operation Attributable to Tyson:
 
 
 
 
Basic (USD per share)
$ (0.01)
$ (0.02)
$ (0.20)
$ (0.05)
Earnings Per Share [Abstract]
 
 
 
 
Basic (USD per share)
$ 0.72 
$ 0.21 
$ 1.49 
$ 1.11 
Dividends Declared Per Share:
 
 
 
 
Dividends Declared (USD per share)
$ 0.050 
$ 0.040 
$ 0.260 
$ 0.120 
Class B [Member]
 
 
 
 
Weighted Average Shares Outstanding:
 
 
 
 
Basic, Shares
70 
70 
70 
70 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
 
Basic (USD per share)
$ 0.66 
$ 0.20 
$ 1.52 
$ 1.04 
Net Loss Per Share from Discontinued Operation Attributable to Tyson:
 
 
 
 
Basic (USD per share)
$ (0.02)
$ (0.01)
$ (0.18)
$ (0.04)
Earnings Per Share [Abstract]
 
 
 
 
Basic (USD per share)
$ 0.64 
$ 0.19 
$ 1.34 
$ 1.00 
Dividends Declared Per Share:
 
 
 
 
Dividends Declared (USD per share)
$ 0.045 
$ 0.036 
$ 0.234 
$ 0.108 
Consolidated Condensed Statements of Comprehensive Income (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Statement of Other Comprehensive Income [Abstract]
 
 
 
 
Net Income
$ 245 
$ 73 
$ 519 
$ 395 
Other Comprehensive Income (Loss), Net of Taxes:
 
 
 
 
Derivatives accounted for as cash flow hedges
2 
5 
(12)
11 
Investments
1 
(1)
(2)
0 
Currency translation
(33)
(38)
(49)
(8)
Postretirement benefits
1 
1 
4 
3 
Total Other Comprehensive Income (Loss), Net of Taxes
(29)
(33)
(59)
6 
Comprehensive Income
216 
40 
460 
401 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
(4)
(3)
2 
(3)
Comprehensive Income Attributable to Tyson
$ 220 
$ 43 
$ 458 
$ 404 
Consolidated Condensed Balance Sheets (USD $)
In Millions, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Assets
 
 
Cash and cash equivalents
$ 943 
$ 1,071 
Accounts receivable, net
1,454 
1,378 
Inventories
2,901 
2,809 
Other current assets
229 
145 
Total Current Assets
5,527 
5,403 
Net Property, Plant and Equipment
4,042 
4,022 
Goodwill
1,903 
1,891 
Intangible Assets
143 
129 
Other Assets
487 
451 
Total Assets
12,102 
11,896 
Liabilities and Shareholders' Equity
 
 
Current debt
508 
515 
Accounts payable
1,309 
1,372 
Other current liabilities
1,121 
943 
Total Current Liabilities
2,938 
2,830 
Long-Term Debt
1,899 
1,917 
Deferred Income Taxes
467 
558 
Other Liabilities
551 
549 
Commitments and Contingencies (Note 15)
   
   
Shareholders' Equity:
 
 
Capital in excess of par value
2,288 
2,278 
Retained earnings
4,754 
4,327 
Accumulated other comprehensive loss
(122)
(63)
Treasury stock, at cost - 40 million shares at June 29, 2013, and 33 million shares at September 29, 2012
(746)
(569)
Total Tyson Shareholders' Equity
6,213 
6,012 
Noncontrolling Interest
34 
30 
Total Shareholders' Equity
6,247 
6,042 
Total Liabilities and Shareholders' Equity
12,102 
11,896 
Class A [Member]
 
 
Shareholders' Equity:
 
 
Common stock
32 
32 
Convertible Class B [Member]
 
 
Shareholders' Equity:
 
 
Common stock
$ 7 
$ 7 
Condensed Consolidated Balance Sheets (Parentheticals) (USD $)
In Millions, except Per Share data, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Treasury Stock, shares
40 
33 
Class A [Member]
 
 
Common stock, par value
$ 0.10 
$ 0.10 
Common stock, shares authorized
900 
900 
Common stock, shares issued
322 
322 
Convertible Class B [Member]
 
 
Common stock, par value
$ 0.10 
$ 0.10 
Common stock, shares authorized
900 
900 
Common stock, shares issued
70 
70 
Consolidated Condensed Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Cash Flows From Operating Activities:
 
 
Net Income
$ 519 
$ 395 
Depreciation and amortization
387 
369 
Deferred income taxes
(21)
75 
Loss on early extinguishment of debt
0 
167 
Other, net
80 
(1)
Net changes in working capital
(193)
(286)
Cash Provided by Operating Activities
772 
719 
Cash Flows From Investing Activities:
 
 
Additions to property, plant and equipment
(425)
(530)
Purchases of marketable securities
(123)
(45)
Proceeds from sale of marketable securities
22 
36 
Acquisitions, net of cash acquired
(106)
0 
Other, net
36 
19 
Cash Used for Investing Activities
(596)
(520)
Cash Flows From Financing Activities:
 
 
Payments on debt
(69)
(919)
Net proceeds from borrowings
48 
1,082 
Purchases of Tyson Class A common stock
(298)
(209)
Dividends
(87)
(44)
Stock options exercised
93 
32 
Other, net
13 
(26)
Cash Used for Financing Activities
(300)
(84)
Effect of Exchange Rate Changes on Cash
(4)
(3)
Increase (Decrease) in Cash and Cash Equivalents
(128)
112 
Cash and Cash Equivalents at Beginning of Year
1,071 
716 
Cash and Cash Equivalents at End of Period
$ 943 
$ 828 
Accounting Policies
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 June 29, 2013, and the results of operations for the three and nine months ended June 29, 2013, and June 30, 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 June 29, 2013, Dynamic Fuels had $168 million of total assets, of which $144 million was net property, plant and equipment, and $111 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
 
Nine Months Ended
 
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
 
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
Shares repurchased:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Under share repurchase program
 
4.0

 
$
100

 
3.9

 
$
75

 
11.2

 
$
250

 
9.3

 
$
180

To fund certain obligations under equity compensation plans
 
0.4

 
10

 
0.4

 
6

 
2.3

 
48

 
1.6

 
29

Total share repurchases
 
4.4

 
$
110

 
4.3

 
$
81

 
13.5

 
$
298

 
10.9

 
$
209


As of June 29, 2013, 24 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.
Acquisitions
Acquisitions
ACQUISITIONS
During the nine months of fiscal 2013, we acquired two value-added food businesses as part of our strategic expansion initiative which are included in our Prepared Foods segment. The aggregate purchase price of the acquisitions was $106 million, which included $50 million for property, plant and equipment, $41 million allocated to Intangible Assets and $12 million allocated to Goodwill.
Discontinued Operation
Discontinued Operation
DISCONTINUED OPERATION
After conducting an assessment during fiscal 2013 of our long-term business strategy in China, we determined our Weifang operation (Weifang), which was part of our Chicken segment, was no longer core to the execution of our strategy given the capital investment it required to execute our future business plan. Consequently, in the second quarter of fiscal 2013, we conducted an impairment test and recorded a $56 million impairment charge. In the third quarter of fiscal 2013, we entered into an agreement to sell Weifang, which resulted in reporting it as a discontinued operation. The sale was completed in July 2013 and did not result in a significant gain or loss.
The carrying amount of Weifang's assets and liabilities held for sale at June 29, 2013, were $30 million and $29 million and are recorded in Other current assets and Other current liabilities in our Consolidated Condensed Balance Sheets, respectively.
Weifang's prior periods results, including the impairment charge, have been reclassified and presented as a discontinued operation in our Consolidated Condensed Statements of Income. The following is a summary of the discontinued operation's results (in millions):
 
Three Months Ended
 
Nine Months Ended
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
Sales
$
36

 
$
47

 
$
108

 
$
165

 
 
 
 
 
 
 
 
Pretax loss
(2
)
 
(6
)
 
(68
)
 
(16
)
Income tax expense
2

 
—

 
2

 
—

Loss from Discontinued Operation
$
(4
)
 
$
(6
)
 
$
(70
)
 
$
(16
)
Inventories
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):
 
June 29, 2013
 
September 29, 2012
Processed products:
 
 
 
Weighted-average method – chicken and prepared foods
$
864

 
$
754

First-in, first-out method – beef and pork
628

 
611

Livestock – first-in, first-out method
1,003

 
952

Supplies and other – weighted-average method
406

 
492

Total inventories
$
2,901

 
$
2,809

Property, Plant And Equipment
Property, Plant And Equipment
PROPERTY, PLANT AND EQUIPMENT
The major categories of property, plant and equipment and accumulated depreciation are as follows (in millions): 
 
June 29, 2013
 
September 29, 2012
Land
$
100

 
$
101

Buildings and leasehold improvements
2,903

 
2,868

Machinery and equipment
5,412

 
5,208

Land improvements and other
417

 
408

Buildings and equipment under construction
291

 
298

 
9,123

 
8,883

Less accumulated depreciation
5,081

 
4,861

Net property, plant and equipment
$
4,042

 
$
4,022

Other Current Liabilities
Other Current Liabilities
OTHER CURRENT LIABILITIES
Other current liabilities are as follows (in millions):
 
June 29, 2013
 
September 29, 2012
Accrued salaries, wages and benefits
$
381

 
$
382

Self-insurance reserves
272

 
274

Other
468

 
287

Total other current liabilities
$
1,121

 
$
943

Debt
Debt
DEBT
The major components of debt are as follows (in millions):
 
June 29, 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
(12
)
 
(28
)
GO Zone tax-exempt bonds due October 2033 (0.06% at 6/29/2013)
100

 
100

Other
85

 
126

Total debt
2,407

 
2,432

Less current debt
508

 
515

Total long-term debt
$
1,899

 
$
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 June 29, 2013, was $944 million. At June 29, 2013, we had outstanding letters of credit issued under this facility totaling $56 million, none of which were drawn upon. We had an additional $146 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 June 29, 2013, the conversion rate was 59.5866 shares of Class A stock per $1,000 principal amount of notes, which is equivalent to a conversion price of $16.78 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. 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.
Conditions for early conversion were met in our third quarter of fiscal 2013, and thus, holders maintain the option to convert the 2013 Notes during our fourth quarter of fiscal 2013. 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. Should the holders exercise the early conversion option on or after July 15, 2013, we would be required to make such delivery of cash and Class A stock, if any, at the October 15, 2013 maturity date. As of August 2, 2013, there were no significant early conversions.
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 $16.78 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 contractually expire 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 $16.78 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. At $25.68, our closing share price on June 29, 2013, the incremental shares we would be required to issue upon exercise of the warrants would have resulted in 3.7 million shares. The 2013 Notes and the warrants 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 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 June 29, 2013.
Income Taxes
Income Taxes
INCOME TAXES
The effective tax rate for continuing operations was 35.4% and 40.2% for the third quarter of fiscal 2013 and 2012, respectively, and 32.6% and 35.9% for the nine months of fiscal 2013 and 2012, respectively. The effective tax rates for the third quarter and nine months of fiscal 2013 were impacted by such items as the domestic production deduction, state income taxes and losses in foreign jurisdictions for which no benefit is recognized. The effective tax rate for the nine months of fiscal 2013 was also impacted by the second quarter non-taxable currency translation adjustment gain and the retroactive extension of tax credits.
Unrecognized tax benefits were $171 million and $168 million at June 29, 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 June 29, 2013, and September 29, 2012, respectively.
We classify interest and penalties on unrecognized tax benefits as income tax expense. At June 29, 2013, and September 29, 2012, before tax benefits, we had $63 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 2012, for state and local income taxes for fiscal years 2003 through 2012 and for foreign income taxes for fiscal years 2002 through 2012. During the next twelve months, it is reasonably possible the amount of unrecognized tax benefits could decrease by $15 million due to audit settlements and the expiration of statutes of limitations.
Other Income And Charges
Other Income And Charges
OTHER INCOME AND CHARGES
During the nine 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 nine months of fiscal 2012, we recorded $11 million of equity earnings in joint ventures and $4 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
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
 
Nine Months Ended
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
249

 
$
79

 
$
589

 
$
411

Less: Net income (loss) from continuing operations attributable to noncontrolling interest
(4
)
 
(3
)
 
2

 
(3
)
Net income from continuing operations attributable to Tyson
253

 
82

 
587

 
414

Less Dividends Declared:
 
 
 
 
 
 
 
Class A
14

 
12

 
74

 
36

Class B
3

 
3

 
16

 
8

Undistributed earnings
$
236

 
$
67

 
$
497

 
$
370

 
 
 
 
 
 
 
 
Class A undistributed earnings
$
193

 
$
56

 
$
406

 
$
305

Class B undistributed earnings
43

 
11

 
91

 
65

Total undistributed earnings
$
236

 
$
67

 
$
497

 
$
370

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per share:
 
 
 
 
 
 
 
Class A weighted average shares
283

 
291

 
284

 
294

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
11

 
3

 
7

 
4

Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions
369

 
369

 
366

 
373

 
 
 
 
 
 
 
 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
 
 
 
Class A Basic
$
0.73

 
$
0.23

 
$
1.69

 
$
1.16

Class B Basic
$
0.66

 
$
0.20

 
$
1.52

 
$
1.04

Diluted
$
0.69

 
$
0.22

 
$
1.61

 
$
1.11

Net Income Per Share Attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
$
0.72

 
$
0.21

 
$
1.49

 
$
1.11

Class B Basic
$
0.64

 
$
0.19

 
$
1.34

 
$
1.00

Diluted
$
0.68

 
$
0.21

 
$
1.42

 
$
1.07


We had no stock-based compensation shares that were antidilutive for the three months ended June 29, 2013. Approximately 4 million of our stock-based compensation shares were antidilutive for the nine months ended June 29, 2013. Approximately 4 million of our stock-based compensation shares were antidilutive for both the three and nine months ended June 30, 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
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 June 29, 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 nine months ended June 29, 2013, and June 30, 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
 
June 29, 2013
 
September 29, 2012
Commodity:
 
 
 
 
 
Corn
Bushels
 
10

 
12

Soy meal
Tons
 
195,600

 
164,700

Foreign Currency
United States dollar
 
$
61

 
$
80

As of June 29, 2013, the net amounts expected to be reclassified into earnings within the next 12 months are pretax losses of $5 million related to grains and pretax losses of $1 million related to foreign currency. During the three and nine months ended June 29, 2013, and June 30, 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
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(5
)
 
$
7

 
Cost of Sales
 
$
(2
)
 
$
1

Foreign exchange contracts
3

 
1

 
Other Income/Expense
 
(2
)
 
(1
)
Total
$
(2
)
 
$
8

 
 
 
$
(4
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
Gain/(Loss)
Recognized in OCI
On Derivatives
 
 
Consolidated Condensed
Statements of Income
Classification
 
Gain/(Loss)
Reclassified from
OCI to Earnings
 
 
Nine Months Ended
 
 
 
Nine Months Ended
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(28
)
 
$
13

 
Cost of Sales
 
$
(5
)
 
$
(15
)
Foreign exchange contracts
(2
)
 
(6
)
 
Other Income/Expense
 
(4
)
 
4

Total
$
(30
)
 
$
7

 
 
 
$
(9
)
 
$
(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
 
June 29, 2013
 
September 29, 2012
Commodity:
 
 
 
 
 
Live Cattle
Pounds
 
93

 
232

Lean Hogs
Pounds
 
264

 
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
 
Nine Months Ended
 
 
June 29,
2013
 
June 30,
2012
 
June 29,
2013
 
June 30,
2012
Gain/(Loss) on forwards
Cost of Sales
 
$
11

 
$
32

 
$
26

 
$
32

Gain/(Loss) on purchase contract
Cost of Sales
 
(11
)
 
(32
)
 
(26
)
 
(32
)

Ineffectiveness related to our fair value hedges was not significant for the three and nine months ended June 29, 2013, and June 30, 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 nine months ended June 29, 2013, and June 30, 2012. At June 29, 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
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Net Investment Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
$
—

 
$
1

 
Other Income/Expense
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
Gain/(Loss)
Recognized in OCI
On Derivatives
 
 
Consolidated Condensed
Statements of Income
Classification
 
Gain/(Loss)
Reclassified from
OCI to Earnings
 
 
Nine Months Ended
 
 
 
Nine Months Ended
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Net Investment Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
$
—

 
$
(1
)
 
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
 
June 29, 2013
 
September 29, 2012
Commodity:
 
 
 
 
 
Corn
Bushels
 
17

 
19

Soy Meal
Tons
 
96,800

 
1,200

Soy Oil
Pounds
 
—

 
17

Live Cattle
Pounds
 
191

 
68

Lean Hogs
Pounds
 
12

 
108

Foreign Currency
United States dollars
 
$
83

 
$
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
 
Nine Months Ended
 
 
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
Sales
 
$
(7
)
 
$
3

 
$
(19
)
 
$
(6
)
Commodity contracts
Cost of Sales
 
(8
)
 
(22
)
 
(15
)
 
36

Foreign exchange contracts
Other Income/Expense
 
(2
)
 
—

 
—

 
—

Total
 
 
$
(17
)
 
$
(19
)
 
$
(34
)
 
$
30


The following table sets forth the fair value of all derivative instruments outstanding in the Consolidated Condensed Balance Sheets (in millions):
 
Fair Value
 
June 29, 2013
 
September 29, 2012
Derivative Assets:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
5

 
$
32

Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
4

 
21

Foreign exchange contracts
1

 
1

Total derivative assets – not designated
5

 
22

 
 
 
 
Total derivative assets
$
10

 
$
54

Derivative Liabilities:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
9

 
$
6

Foreign exchange contracts
—

 
1

Total derivative liabilities – designated
9

 
7

Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
64

 
96

Foreign exchange contracts
3

 
2

Interest rate contracts
—

 
—

Total derivative liabilities – not designated
67

 
98

 
 
 
 
Total derivative liabilities
$
76

 
$
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 12: 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 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): 
June 29, 2013
Level 1
 
Level 2
 
Level 3
 
Netting (a)
 
Total
Assets:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
9

 
$
—

 
$
(1
)
 
$
8

Foreign Exchange Forward Contracts
—

 
1

 
—

 
—

 
1

Available for Sale Securities:
 
 
 
 
 
 
 
 
 
Current
—

 
81

 
—

 
—

 
81

Non-current
6

 
26

 
65

 
—

 
97

Deferred Compensation Assets
22

 
184

 
—

 
—

 
206

Total Assets
$
28

 
$
301

 
$
65

 
$
(1
)
 
$
393

Liabilities:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
73

 
$
—

 
$
(72
)
 
$
1

Foreign Exchange Forward Contracts
—

 
3

 
—

 
—

 
3

Total Liabilities
$
—

 
$
76

 
$
—

 
$
(72
)
 
$
4

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

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 June 29, 2013, and September 29, 2012, we had posted with various counterparties $71 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): 
 
Nine Months Ended
 
June 29, 2013
 
June 30, 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)
(1
)
 
(1
)
Purchases
14

 
20

Issuances
—

 
—

Settlements
(35
)
 
(21
)
Balance at end of period
$
65

 
$
82

Total gains (losses) for the nine-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 11: 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 June 29, 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 condensed financial statements.
Additionally, we have 0.8 million shares of Syntroleum Corporation common stock and 0.4 million warrants, which expire in June 2015, to purchase an equivalent amount of Syntroleum Corporation common stock at an average price of $28.70. 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)
June 29, 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
$
26

 
$
27

 
$
1

 
$
26

 
$
27

 
$
1

Certificates of Deposit and Commercial Paper
80

 
80

 
—

 
—

 
—

 
—

Corporate and Asset-Backed (a)
65

 
65

 
—

 
64

 
66

 
2

Redeemable Preferred Stock
—

 
—

 
—

 
20

 
20

 
—

Equity Securities:
 
 
 
 
 
 
 
 
 
 
 
Common Stock and Warrants
9

 
6

 
(3
)
 
9

 
7

 
(2
)
 
(a)
At June 29, 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 nine months ending June 29, 2013, and June 30, 2012. No other than temporary losses were deferred in OCI as of June 29, 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 second quarter of fiscal 2013, we recorded a $56 million impairment charge related to our Weifang operation in China. The impairment charge resulted from the completion of an assessment of our long-term business strategy in China, in which we determined Weifang 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 nine months ended June 30, 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):
 
June 29, 2013
 
September 29, 2012
 
Fair Value
 
Carrying Value
 
Fair Value
 
Carrying Value
Total Debt
$
2,535

 
$
2,407

 
$
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
 
Nine Months Ended
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 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
$
2

$
(1
)
$
1

 
$
(1
)
$
—

$
(1
)
 
$
5

$
(2
)
$
3

 
$
15

$
(6
)
$
9

(Gain) loss reclassified to Other Income/Expense
2

—

2

 
1

—

1

 
4

(1
)
3

 
(4
)
2

(2
)
Unrealized gain (loss)
(2
)
1

(1
)
 
8

(3
)
5

 
(30
)
12

(18
)
 
7

(3
)
4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Gain) loss reclassified to Other Income/Expense
—

—

—

 
—

—

—

 
(1
)
—

(1
)
 
—

—

—

Unrealized gain (loss)
1

—

1

 
(2
)
1

(1
)
 
(2
)
1

(1
)
 
—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Translation (gain) loss reclassified to Other Income/Expense
—

—

—

 
—

—

—

 
(19
)
(1
)
(20
)
 
—

—

—

Translation adjustment
(33
)
—

(33
)
 
(38
)
—

(38
)
 
(29
)
—

(29
)
 
(8
)
—

(8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Postretirement benefits
1

—

1

 
1

—

1

 
4

—

4

 
3

—

3

Total Other Comprehensive Income (Loss)
$
(29
)
$
—

$
(29
)
 
$
(31
)
$
(2
)
$
(33
)
 
$
(68
)
$
9

$
(59
)
 
$
13

$
(7
)
$
6

Segment Reporting
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.
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.
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 from continuing operations before income taxes are as follows (in millions): 
 
Three Months Ended
 
 
Nine Months Ended
 
 
June 29, 2013
 
June 30, 2012
 
 
June 29, 2013
 
June 30, 2012
 
Sales:
 
 
 
 
 
 
 
 
 
Chicken
$
3,158

 
$
2,855

 
 
$
9,136

 
$
8,410

 
Beef
3,723

 
3,487

 
 
10,655

 
10,323

 
Pork
1,332

 
1,344

 
 
4,006

 
4,191

 
Prepared Foods
797

 
764

 
 
2,441

 
2,432

 
Other
—

 
24

 
 
47

 
124

 
Intersegment Sales
(279
)
 
(213
)
 
 
(805
)
 
(740
)
 
Total Sales
$
8,731

 
$
8,261

 
 
$
25,480

 
$
24,740

 
Operating Income (Loss):
 
 
 
 
 
 
 
 
 
Chicken
$
220


$
159

 
 
$
471


$
346

 
Beef
114

 
71

 
 
134

 
101

 
Pork
67

 
69

 
 
264

 
349

 
Prepared Foods
24

 
47

 
 
85

 
142

 
Other
(6
)

(4
)
 
 
5

 
(6
)
 
Total Operating Income
419

 
342

 
 
959

 
932

 
 
 
 
 
 
 
 
 
 
 
Total Other (Income) Expense
34


210

(b)
 
85

(a)
290

(b)
 
 
 
 
 
 
 
 
 
 
Income from Continuing Operations before Income Taxes
$
385

 
$
132

 
 
$
874

 
$
642

 

(a)
Includes $19 million related to the recognized currency translation adjustment gain
(b)
Includes $167 million charge related to the early extinguishment of debt
The Beef segment had sales of $59 million and $49 million in the third quarter of fiscal 2013 and 2012, respectively, and sales of $156 million and $162 million in the nine 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 $220 million and $164 million in the third quarter of fiscal 2013 and 2012, respectively, and sales of $649 million and $578 million in the nine 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 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 June 29, 2013, was $63 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 $57 million, of which $51 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 June 29, 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 June 29, 2013, was approximately $310 million. The total receivables under these programs were $50 million and $25 million at June 29, 2013, and September 29, 2012, respectively, and are included, net of allowance for uncollectible amounts, in Accounts Receivable 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 June 29, 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 twelve separate wage and hour actions involving Tyson Fresh Meats Inc.’s plants located in Garden City, Kansas (Garcia, et al. v. Tyson Foods, Inc., Tyson Fresh Meats, Inc., D. Kansas, May 15, 2006), Emporia, Kansas (Abdiaziz, et al. v. Tyson Foods, Inc., Tyson Fresh Meats, Inc., D. Kansas, September 30, 2011), 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 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' counsel's 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, which 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, which resulted in a jury verdict in favor of Tyson on April 25, 2012. The plaintiffs have appealed to the Eighth Circuit Court of Appeals.
•
The Maxwell case, which involves our Council Bluffs, Iowa plant, has been resolved by the parties for $970,000, and all payments required by the settlement have been paid and the claims dismissed.
•
A bench trial was held in the Acosta case, which involves our Madison, Nebraska pork plant, in January 2013. The trial court filed its findings of fact and conclusions of law on May 31, 2013, and awarded $5,733,943 for unpaid overtime wages. The court ordered each party to submit an updated back pay calculation reflecting payroll data through the date of its order. A judgment has not yet been entered.
•
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, has been resolved by the parties for $950,000. The parties' joint motion for approval of the settlement is pending.
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 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 August 1, 2013, the appeals court reversed and remanded the case to the trial court, concluding that the applicable activities at this plant are compensable, subject to certain defenses.
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 Court has entered the consent decree, which has become a final settlement of this matter.
Condensed Consolidating Financial Statements
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 June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
142

 
$
4,908

 
$
4,081

 
$
(400
)
 
$
8,731

Cost of Sales
8

 
4,679

 
3,762

 
(400
)
 
8,049

Gross Profit
134

 
229

 
319

 
—

 
682

Selling, General and Administrative
19

 
54

 
190

 
—

 
263

Operating Income
115

 
175

 
129

 
—

 
419

Other (Income) Expense:
 
 
 
 
 
 
 
 
 
Interest expense, net
9

 
15

 
10

 
—

 
34

Other, net
—

 
(1
)
 
1

 
—

 
—

Equity in net earnings of subsidiaries
(181
)
 
(15
)
 
—

 
196

 
—

Total Other (Income) Expense
(172
)
 
(1
)
 
11

 
196

 
34

Income from Continuing Operations before Income Taxes
287

 
176

 
118

 
(196
)
 
385

Income Tax Expense
38

 
56

 
42

 
—

 
136

Income from Continuing Operations
249

 
120

 
76

 
(196
)
 
249

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(4
)
 
—

 
(4
)
Net Income
249

 
120

 
72

 
(196
)
 
245

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(4
)
 
—

 
(4
)
Net Income Attributable to Tyson
$
249

 
$
120

 
$
76

 
$
(196
)
 
$
249

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
216

 
103

 
49

 
(152
)
 
216

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(4
)
 
—

 
(4
)
Comprehensive Income (Loss) Attributable to Tyson
$
216

 
$
103

 
$
53

 
$
(152
)
 
$
220

 
 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Income and Comprehensive Income for the three months ended June 30, 2012
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
140

 
$
4,711

 
$
3,764

 
$
(354
)
 
$
8,261

Cost of Sales
20

 
4,536

 
3,493

 
(354
)
 
7,695

Gross Profit
120

 
175

 
271

 
—

 
566

Selling, General and Administrative
4

 
49

 
170

 
1

 
224

Operating Income
116

 
126

 
101

 
(1
)
 
342

Other (Income) Expense:
 
 
 
 
 
 
 
 
 
Interest expense, net
50

 
70

 
93

 
—

 
213

Other, net
1

 
—

 
(4
)
 
—

 
(3
)
Equity in net earnings of subsidiaries
(34
)
 
—

 
—

 
34

 
—

Total Other (Income) Expense
17

 
70

 
89

 
34

 
210

Income from Continuing Operations before Income Taxes
99

 
56

 
12

 
(35
)
 
132

Income Tax Expense
23

 
19

 
11

 
—

 
53

Income from Continuing Operations
76

 
37

 
1

 
(35
)
 
79

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(6
)
 
—

 
(6
)
Net Income
76

 
37

 
(5
)
 
(35
)
 
73

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—


—


(3
)

—


(3
)
Net Income Attributable to Tyson
76


37


(2
)

(35
)

76

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
43

 
18

 
(29
)
 
8

 
40

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(3
)
 
—

 
(3
)
Comprehensive Income (Loss) Attributable to Tyson
$
43

 
$
18

 
$
(26
)
 
$
8

 
$
43

 
Condensed Consolidating Statement of Income and Comprehensive Income for the nine months ended June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
318

 
$
14,210

 
$
11,957

 
$
(1,005
)
 
$
25,480

Cost of Sales
35

 
13,696

 
11,065

 
(1,005
)
 
23,791

Gross Profit
283

 
514

 
892

 
—

 
1,689

Selling, General and Administrative
51

 
151

 
528

 
—

 
730

Operating Income
232

 
363

 
364

 
—

 
959

Other (Income) Expense:


 


 


 


 


Interest expense, net
26

 
46

 
32

 
—

 
104

Other, net
4

 
(1
)
 
(22
)
 
—

 
(19
)
Equity in net earnings of subsidiaries
(381
)
 
(29
)
 
—

 
410

 
—

Total Other (Income) Expense
(351
)
 
16

 
10

 
410

 
85

Income from Continuing Operations before Income Taxes
583

 
347

 
354

 
(410
)
 
874

Income Tax Expense
66

 
109

 
110

 
—

 
285

Income from Continuing Operations
517

 
238

 
244

 
(410
)
 
589

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(70
)
 
—

 
(70
)
Net Income
517

 
238

 
174

 
(410
)
 
519

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
2

 
—

 
2

Net Income Attributable to Tyson
$
517

 
$
238

 
$
172

 
$
(410
)
 
$
517

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
460

 
202

 
80

 
(282
)
 
460

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
2

 
—

 
2

Comprehensive Income (Loss) Attributable to Tyson
$
460

 
$
202

 
$
78

 
$
(282
)
 
$
458



Condensed Consolidating Statement of Income and Comprehensive Income for the nine months ended June 30, 2012
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
268

 
$
14,172

 
$
11,273

 
$
(973
)
 
$
24,740

Cost of Sales
12

 
13,647

 
10,453

 
(972
)
 
23,140

Gross Profit
256

 
525

 
820

 
(1
)
 
1,600

Selling, General and Administrative
25

 
156

 
488

 
(1
)
 
668

Operating Income
231

 
369

 
332

 
—

 
932

Other (Income) Expense:


 


 


 


 


Interest expense, net
39

 
126

 
142

 
—

 
307

Other, net
1

 
—

 
(18
)
 
—

 
(17
)
Equity in net earnings of subsidiaries
(268
)
 
(55
)
 
—

 
323

 
—

Total Other (Income) Expense
(228
)
 
71

 
124

 
323

 
290

Income from Continuing Operations before Income Taxes
459

 
298

 
208

 
(323
)
 
642

Income Tax Expense
61

 
83

 
87

 
—

 
231

Income from Continuing Operations
398

 
215

 
121

 
(323
)
 
411

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(16
)
 
—

 
(16
)
Net Income
398

 
215

 
105

 
(323
)
 
395

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(3
)
 
—

 
(3
)
Net Income Attributable to Tyson
$
398

 
$
215

 
$
108

 
$
(323
)
 
$
398

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
404

 
223

 
110

 
(336
)
 
401

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(3
)
 
—

 
(3
)
Comprehensive Income (Loss) Attributable to Tyson
$
404

 
$
223

 
$
113

 
$
(336
)
 
$
404


Condensed Consolidating Balance Sheet as of June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
13

 
$
930

 
$
—

 
$
943

Accounts receivable, net
—

 
589

 
865

 
—

 
1,454

Inventories
1

 
1,024

 
1,876

 
—

 
2,901

Other current assets
370

 
55

 
216

 
(412
)
 
229

Total Current Assets
371

 
1,681

 
3,887

 
(412
)
 
5,527

Net Property, Plant and Equipment
31

 
877

 
3,134

 
—

 
4,042

Goodwill
—

 
881

 
1,022

 
—

 
1,903

Intangible Assets
—

 
22

 
121

 
—

 
143

Other Assets
909

 
159

 
249

 
(830
)
 
487

Investment in Subsidiaries
11,756

 
2,008

 
—

 
(13,764
)
 
—

Total Assets
$
13,067

 
$
5,628

 
$
8,413

 
$
(15,006
)
 
$
12,102

 
 
 
 
 
 
 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Current debt
$
452

 
$
132

 
$
251

 
$
(327
)
 
$
508

Accounts payable
20

 
577

 
712

 
—

 
1,309

Other current liabilities
4,467

 
186

 
916

 
(4,448
)
 
1,121

Total Current Liabilities
4,939

 
895

 
1,879

 
(4,775
)
 
2,938

Long-Term Debt
1,770

 
679

 
246

 
(796
)
 
1,899

Deferred Income Taxes
—

 
131

 
342

 
(6
)
 
467

Other Liabilities
145

 
144

 
290

 
(28
)
 
551

 
 
 
 
 
 
 
 
 
 
Total Tyson Shareholders’ Equity
6,213

 
3,779

 
5,622

 
(9,401
)
 
6,213

Noncontrolling Interest
—

 
—

 
34

 
—

 
34

Total Shareholders’ Equity
6,213

 
3,779

 
5,656

 
(9,401
)
 
6,247

Total Liabilities and Shareholders’ Equity
$
13,067

 
$
5,628

 
$
8,413

 
$
(15,006
)
 
$
12,102

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 nine months ended June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Cash Provided by (Used for) Operating Activities
$
185

 
$
196

 
$
404

 
$
(13
)
 
$
772

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(3
)
 
(82
)
 
(340
)
 
—

 
(425
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(14
)
 
(87
)
 
—

 
(101
)
Acquisitions, net of cash acquired
—

 
—

 
(106
)
 
—

 
(106
)
Other, net
(3
)
 
9

 
30

 
—

 
36

Cash Provided by (Used for) Investing Activities
(6
)
 
(87
)
 
(503
)
 
—

 
(596
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
—

 
—

 
(21
)
 
—

 
(21
)
Purchases of Tyson Class A common stock
(298
)
 
—

 
—

 
—

 
(298
)
Dividends
(87
)
 
—

 
(13
)
 
13

 
(87
)
Stock options exercised
93

 
—

 
—

 
—

 
93

Other, net
13

 
—

 
—

 
—

 
13

Net change in intercompany balances
99

 
(105
)
 
6

 
—

 
—

Cash Provided by (Used for) Financing Activities
(180
)
 
(105
)
 
(28
)
 
13

 
(300
)
Effect of Exchange Rate Changes on Cash
—

 
—

 
(4
)
 
—

 
(4
)
Increase (Decrease) in Cash and Cash Equivalents
(1
)
 
4

 
(131
)
 
—

 
(128
)
Cash and Cash Equivalents at Beginning of Year
1

 
9

 
1,061

 
—

 
1,071

Cash and Cash Equivalents at End of Period
$
—

 
$
13

 
$
930

 
$
—

 
$
943



 
Condensed Consolidating Statement of Cash Flows for the nine months ended June 30, 2012
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Cash Provided by (Used for) Operating Activities
$
280

 
$
237

 
$
212

 
$
(10
)
 
$
719

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(1
)
 
(78
)
 
(451
)
 
—

 
(530
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(7
)
 
(2
)
 
—

 
(9
)
Acquisitions, net of cash acquired
—

 
—

 
—

 
—

 
—

Other, net
2

 
5

 
12

 
—

 
19

Cash Provided by (Used for) Investing Activities
1

 
(80
)
 
(441
)
 
—

 
(520
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
131

 
—

 
32

 
—

 
163

Purchases of Tyson Class A common stock
(209
)
 
—

 
—

 
—

 
(209
)
Dividends
(44
)
 
—

 
(10
)
 
10

 
(44
)
Stock options exercised
32

 
—

 
—

 
—

 
32

Other, net
(5
)
 
—

 
(21
)
 
—

 
(26
)
Net change in intercompany balances
(186
)
 
(158
)
 
344

 
—

 
—

Cash Provided by (Used for) Financing Activities
(281
)
 
(158
)
 
345

 
10

 
(84
)
Effect of Exchange Rate Changes on Cash
—

 
—

 
(3
)
 
—

 
(3
)
Increase (Decrease) in Cash and Cash Equivalents
—

 
(1
)
 
113

 
—

 
112

Cash and Cash Equivalents at Beginning of Year
1

 
1

 
714

 
—

 
716

Cash and Cash Equivalents at End of Period
$
1

 
$
—

 
$
827

 
$
—

 
$
828

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 June 29, 2013, and the results of operations for the three and nine months ended June 29, 2013, and June 30, 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
 
Nine Months Ended
 
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
 
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
Shares repurchased:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Under share repurchase program
 
4.0

 
$
100

 
3.9

 
$
75

 
11.2

 
$
250

 
9.3

 
$
180

To fund certain obligations under equity compensation plans
 
0.4

 
10

 
0.4

 
6

 
2.3

 
48

 
1.6

 
29

Total share repurchases
 
4.4

 
$
110

 
4.3

 
$
81

 
13.5

 
$
298

 
10.9

 
$
209

Discontinued Operation (Tables)
Summary of Discontinued Operation's Results
The following is a summary of the discontinued operation's results (in millions):
 
Three Months Ended
 
Nine Months Ended
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
Sales
$
36

 
$
47

 
$
108

 
$
165

 
 
 
 
 
 
 
 
Pretax loss
(2
)
 
(6
)
 
(68
)
 
(16
)
Income tax expense
2

 
—

 
2

 
—

Loss from Discontinued Operation
$
(4
)
 
$
(6
)
 
$
(70
)
 
$
(16
)
Inventories (Tables)
Schedule of Inventory
Total inventory consists of the following (in millions):
 
June 29, 2013
 
September 29, 2012
Processed products:
 
 
 
Weighted-average method – chicken and prepared foods
$
864

 
$
754

First-in, first-out method – beef and pork
628

 
611

Livestock – first-in, first-out method
1,003

 
952

Supplies and other – weighted-average method
406

 
492

Total inventories
$
2,901

 
$
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): 
 
June 29, 2013
 
September 29, 2012
Land
$
100

 
$
101

Buildings and leasehold improvements
2,903

 
2,868

Machinery and equipment
5,412

 
5,208

Land improvements and other
417

 
408

Buildings and equipment under construction
291

 
298

 
9,123

 
8,883

Less accumulated depreciation
5,081

 
4,861

Net property, plant and equipment
$
4,042

 
$
4,022

Other Current Liabilities (Tables)
Schedule Of Other Current Liabilities
Other current liabilities are as follows (in millions):
 
June 29, 2013
 
September 29, 2012
Accrued salaries, wages and benefits
$
381

 
$
382

Self-insurance reserves
272

 
274

Other
468

 
287

Total other current liabilities
$
1,121

 
$
943

Debt (Tables)
Major Components Of Debt
The major components of debt are as follows (in millions):
 
June 29, 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
(12
)
 
(28
)
GO Zone tax-exempt bonds due October 2033 (0.06% at 6/29/2013)
100

 
100

Other
85

 
126

Total debt
2,407

 
2,432

Less current debt
508

 
515

Total long-term debt
$
1,899

 
$
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
 
Nine Months Ended
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
249

 
$
79

 
$
589

 
$
411

Less: Net income (loss) from continuing operations attributable to noncontrolling interest
(4
)
 
(3
)
 
2

 
(3
)
Net income from continuing operations attributable to Tyson
253

 
82

 
587

 
414

Less Dividends Declared:
 
 
 
 
 
 
 
Class A
14

 
12

 
74

 
36

Class B
3

 
3

 
16

 
8

Undistributed earnings
$
236

 
$
67

 
$
497

 
$
370

 
 
 
 
 
 
 
 
Class A undistributed earnings
$
193

 
$
56

 
$
406

 
$
305

Class B undistributed earnings
43

 
11

 
91

 
65

Total undistributed earnings
$
236

 
$
67

 
$
497

 
$
370

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per share:
 
 
 
 
 
 
 
Class A weighted average shares
283

 
291

 
284

 
294

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
11

 
3

 
7

 
4

Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions
369

 
369

 
366

 
373

 
 
 
 
 
 
 
 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
 
 
 
Class A Basic
$
0.73

 
$
0.23

 
$
1.69

 
$
1.16

Class B Basic
$
0.66

 
$
0.20

 
$
1.52

 
$
1.04

Diluted
$
0.69

 
$
0.22

 
$
1.61

 
$
1.11

Net Income Per Share Attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
$
0.72

 
$
0.21

 
$
1.49

 
$
1.11

Class B Basic
$
0.64

 
$
0.19

 
$
1.34

 
$
1.00

Diluted
$
0.68

 
$
0.21

 
$
1.42

 
$
1.07

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
 
June 29, 2013
 
September 29, 2012
Derivative Assets:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
5

 
$
32

Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
4

 
21

Foreign exchange contracts
1

 
1

Total derivative assets – not designated
5

 
22

 
 
 
 
Total derivative assets
$
10

 
$
54

Derivative Liabilities:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
9

 
$
6

Foreign exchange contracts
—

 
1

Total derivative liabilities – designated
9

 
7

Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
64

 
96

Foreign exchange contracts
3

 
2

Interest rate contracts
—

 
—

Total derivative liabilities – not designated
67

 
98

 
 
 
 
Total derivative liabilities
$
76

 
$
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
 
June 29, 2013
 
September 29, 2012
Commodity:
 
 
 
 
 
Corn
Bushels
 
10

 
12

Soy meal
Tons
 
195,600

 
164,700

Foreign Currency
United States dollar
 
$
61

 
$
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
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(5
)
 
$
7

 
Cost of Sales
 
$
(2
)
 
$
1

Foreign exchange contracts
3

 
1

 
Other Income/Expense
 
(2
)
 
(1
)
Total
$
(2
)
 
$
8

 
 
 
$
(4
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
Gain/(Loss)
Recognized in OCI
On Derivatives
 
 
Consolidated Condensed
Statements of Income
Classification
 
Gain/(Loss)
Reclassified from
OCI to Earnings
 
 
Nine Months Ended
 
 
 
Nine Months Ended
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(28
)
 
$
13

 
Cost of Sales
 
$
(5
)
 
$
(15
)
Foreign exchange contracts
(2
)
 
(6
)
 
Other Income/Expense
 
(4
)
 
4

Total
$
(30
)
 
$
7

 
 
 
$
(9
)
 
$
(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
 
June 29, 2013
 
September 29, 2012
Commodity:
 
 
 
 
 
Live Cattle
Pounds
 
93

 
232

Lean Hogs
Pounds
 
264

 
239

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

 
Consolidated Condensed
Statements of Income
Classification
 
Three Months Ended
 
Nine Months Ended
 
 
June 29,
2013
 
June 30,
2012
 
June 29,
2013
 
June 30,
2012
Gain/(Loss) on forwards
Cost of Sales
 
$
11

 
$
32

 
$
26

 
$
32

Gain/(Loss) on purchase contract
Cost of Sales
 
(11
)
 
(32
)
 
(26
)
 
(32
)
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
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Net Investment Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
$
—

 
$
1

 
Other Income/Expense
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
Gain/(Loss)
Recognized in OCI
On Derivatives
 
 
Consolidated Condensed
Statements of Income
Classification
 
Gain/(Loss)
Reclassified from
OCI to Earnings
 
 
Nine Months Ended
 
 
 
Nine Months Ended
 
June 29,
2013
 
June 30,
2012
 
 
 
June 29,
2013
 
June 30,
2012
Net Investment Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
$
—

 
$
(1
)
 
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
 
June 29, 2013
 
September 29, 2012
Commodity:
 
 
 
 
 
Corn
Bushels
 
17

 
19

Soy Meal
Tons
 
96,800

 
1,200

Soy Oil
Pounds
 
—

 
17

Live Cattle
Pounds
 
191

 
68

Lean Hogs
Pounds
 
12

 
108

Foreign Currency
United States dollars
 
$
83

 
$
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
 
Nine Months Ended
 
 
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 2012
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Commodity contracts
Sales
 
$
(7
)
 
$
3

 
$
(19
)
 
$
(6
)
Commodity contracts
Cost of Sales
 
(8
)
 
(22
)
 
(15
)
 
36

Foreign exchange contracts
Other Income/Expense
 
(2
)
 
—

 
—

 
—

Total
 
 
$
(17
)
 
$
(19
)
 
$
(34
)
 
$
30

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): 
June 29, 2013
Level 1
 
Level 2
 
Level 3
 
Netting (a)
 
Total
Assets:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
9

 
$
—

 
$
(1
)
 
$
8

Foreign Exchange Forward Contracts
—

 
1

 
—

 
—

 
1

Available for Sale Securities:
 
 
 
 
 
 
 
 
 
Current
—

 
81

 
—

 
—

 
81

Non-current
6

 
26

 
65

 
—

 
97

Deferred Compensation Assets
22

 
184

 
—

 
—

 
206

Total Assets
$
28

 
$
301

 
$
65

 
$
(1
)
 
$
393

Liabilities:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
73

 
$
—

 
$
(72
)
 
$
1

Foreign Exchange Forward Contracts
—

 
3

 
—

 
—

 
3

Total Liabilities
$
—

 
$
76

 
$
—

 
$
(72
)
 
$
4

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

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 June 29, 2013, and September 29, 2012, we had posted with various counterparties $71 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): 
 
Nine Months Ended
 
June 29, 2013
 
June 30, 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)
(1
)
 
(1
)
Purchases
14

 
20

Issuances
—

 
—

Settlements
(35
)
 
(21
)
Balance at end of period
$
65

 
$
82

Total gains (losses) for the nine-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)
June 29, 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
$
26

 
$
27

 
$
1

 
$
26

 
$
27

 
$
1

Certificates of Deposit and Commercial Paper
80

 
80

 
—

 
—

 
—

 
—

Corporate and Asset-Backed (a)
65

 
65

 
—

 
64

 
66

 
2

Redeemable Preferred Stock
—

 
—

 
—

 
20

 
20

 
—

Equity Securities:
 
 
 
 
 
 
 
 
 
 
 
Common Stock and Warrants
9

 
6

 
(3
)
 
9

 
7

 
(2
)
 
(a)
At June 29, 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):
 
June 29, 2013
 
September 29, 2012
 
Fair Value
 
Carrying Value
 
Fair Value
 
Carrying Value
Total Debt
$
2,535

 
$
2,407

 
$
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
 
Nine Months Ended
 
June 29, 2013
 
June 30, 2012
 
June 29, 2013
 
June 30, 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
$
2

$
(1
)
$
1

 
$
(1
)
$
—

$
(1
)
 
$
5

$
(2
)
$
3

 
$
15

$
(6
)
$
9

(Gain) loss reclassified to Other Income/Expense
2

—

2

 
1

—

1

 
4

(1
)
3

 
(4
)
2

(2
)
Unrealized gain (loss)
(2
)
1

(1
)
 
8

(3
)
5

 
(30
)
12

(18
)
 
7

(3
)
4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Gain) loss reclassified to Other Income/Expense
—

—

—

 
—

—

—

 
(1
)
—

(1
)
 
—

—

—

Unrealized gain (loss)
1

—

1

 
(2
)
1

(1
)
 
(2
)
1

(1
)
 
—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Translation (gain) loss reclassified to Other Income/Expense
—

—

—

 
—

—

—

 
(19
)
(1
)
(20
)
 
—

—

—

Translation adjustment
(33
)
—

(33
)
 
(38
)
—

(38
)
 
(29
)
—

(29
)
 
(8
)
—

(8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Postretirement benefits
1

—

1

 
1

—

1

 
4

—

4

 
3

—

3

Total Other Comprehensive Income (Loss)
$
(29
)
$
—

$
(29
)
 
$
(31
)
$
(2
)
$
(33
)
 
$
(68
)
$
9

$
(59
)
 
$
13

$
(7
)
$
6

Segment Reporting (Tables)
Segment Reporting Information, By Segment
Information on segments and a reconciliation to income from continuing operations before income taxes are as follows (in millions): 
 
Three Months Ended
 
 
Nine Months Ended
 
 
June 29, 2013
 
June 30, 2012
 
 
June 29, 2013
 
June 30, 2012
 
Sales:
 
 
 
 
 
 
 
 
 
Chicken
$
3,158

 
$
2,855

 
 
$
9,136

 
$
8,410

 
Beef
3,723

 
3,487

 
 
10,655

 
10,323

 
Pork
1,332

 
1,344

 
 
4,006

 
4,191

 
Prepared Foods
797

 
764

 
 
2,441

 
2,432

 
Other
—

 
24

 
 
47

 
124

 
Intersegment Sales
(279
)
 
(213
)
 
 
(805
)
 
(740
)
 
Total Sales
$
8,731

 
$
8,261

 
 
$
25,480

 
$
24,740

 
Operating Income (Loss):
 
 
 
 
 
 
 
 
 
Chicken
$
220


$
159

 
 
$
471


$
346

 
Beef
114

 
71

 
 
134

 
101

 
Pork
67

 
69

 
 
264

 
349

 
Prepared Foods
24

 
47

 
 
85

 
142

 
Other
(6
)

(4
)
 
 
5

 
(6
)
 
Total Operating Income
419

 
342

 
 
959

 
932

 
 
 
 
 
 
 
 
 
 
 
Total Other (Income) Expense
34


210

(b)
 
85

(a)
290

(b)
 
 
 
 
 
 
 
 
 
 
Income from Continuing Operations before Income Taxes
$
385

 
$
132

 
 
$
874

 
$
642

 

(a)
Includes $19 million related to the recognized currency translation adjustment gain
(b)
Includes $167 million charge related to the early extinguishment of debt
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 June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
142

 
$
4,908

 
$
4,081

 
$
(400
)
 
$
8,731

Cost of Sales
8

 
4,679

 
3,762

 
(400
)
 
8,049

Gross Profit
134

 
229

 
319

 
—

 
682

Selling, General and Administrative
19

 
54

 
190

 
—

 
263

Operating Income
115

 
175

 
129

 
—

 
419

Other (Income) Expense:
 
 
 
 
 
 
 
 
 
Interest expense, net
9

 
15

 
10

 
—

 
34

Other, net
—

 
(1
)
 
1

 
—

 
—

Equity in net earnings of subsidiaries
(181
)
 
(15
)
 
—

 
196

 
—

Total Other (Income) Expense
(172
)
 
(1
)
 
11

 
196

 
34

Income from Continuing Operations before Income Taxes
287

 
176

 
118

 
(196
)
 
385

Income Tax Expense
38

 
56

 
42

 
—

 
136

Income from Continuing Operations
249

 
120

 
76

 
(196
)
 
249

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(4
)
 
—

 
(4
)
Net Income
249

 
120

 
72

 
(196
)
 
245

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(4
)
 
—

 
(4
)
Net Income Attributable to Tyson
$
249

 
$
120

 
$
76

 
$
(196
)
 
$
249

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
216

 
103

 
49

 
(152
)
 
216

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(4
)
 
—

 
(4
)
Comprehensive Income (Loss) Attributable to Tyson
$
216

 
$
103

 
$
53

 
$
(152
)
 
$
220

 
 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Income and Comprehensive Income for the three months ended June 30, 2012
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
140

 
$
4,711

 
$
3,764

 
$
(354
)
 
$
8,261

Cost of Sales
20

 
4,536

 
3,493

 
(354
)
 
7,695

Gross Profit
120

 
175

 
271

 
—

 
566

Selling, General and Administrative
4

 
49

 
170

 
1

 
224

Operating Income
116

 
126

 
101

 
(1
)
 
342

Other (Income) Expense:
 
 
 
 
 
 
 
 
 
Interest expense, net
50

 
70

 
93

 
—

 
213

Other, net
1

 
—

 
(4
)
 
—

 
(3
)
Equity in net earnings of subsidiaries
(34
)
 
—

 
—

 
34

 
—

Total Other (Income) Expense
17

 
70

 
89

 
34

 
210

Income from Continuing Operations before Income Taxes
99

 
56

 
12

 
(35
)
 
132

Income Tax Expense
23

 
19

 
11

 
—

 
53

Income from Continuing Operations
76

 
37

 
1

 
(35
)
 
79

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(6
)
 
—

 
(6
)
Net Income
76

 
37

 
(5
)
 
(35
)
 
73

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—


—


(3
)

—


(3
)
Net Income Attributable to Tyson
76


37


(2
)

(35
)

76

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
43

 
18

 
(29
)
 
8

 
40

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(3
)
 
—

 
(3
)
Comprehensive Income (Loss) Attributable to Tyson
$
43

 
$
18

 
$
(26
)
 
$
8

 
$
43

 
Condensed Consolidating Statement of Income and Comprehensive Income for the nine months ended June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
318

 
$
14,210

 
$
11,957

 
$
(1,005
)
 
$
25,480

Cost of Sales
35

 
13,696

 
11,065

 
(1,005
)
 
23,791

Gross Profit
283

 
514

 
892

 
—

 
1,689

Selling, General and Administrative
51

 
151

 
528

 
—

 
730

Operating Income
232

 
363

 
364

 
—

 
959

Other (Income) Expense:


 


 


 


 


Interest expense, net
26

 
46

 
32

 
—

 
104

Other, net
4

 
(1
)
 
(22
)
 
—

 
(19
)
Equity in net earnings of subsidiaries
(381
)
 
(29
)
 
—

 
410

 
—

Total Other (Income) Expense
(351
)
 
16

 
10

 
410

 
85

Income from Continuing Operations before Income Taxes
583

 
347

 
354

 
(410
)
 
874

Income Tax Expense
66

 
109

 
110

 
—

 
285

Income from Continuing Operations
517

 
238

 
244

 
(410
)
 
589

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(70
)
 
—

 
(70
)
Net Income
517

 
238

 
174

 
(410
)
 
519

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
2

 
—

 
2

Net Income Attributable to Tyson
$
517

 
$
238

 
$
172

 
$
(410
)
 
$
517

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
460

 
202

 
80

 
(282
)
 
460

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
2

 
—

 
2

Comprehensive Income (Loss) Attributable to Tyson
$
460

 
$
202

 
$
78

 
$
(282
)
 
$
458



Condensed Consolidating Statement of Income and Comprehensive Income for the nine months ended June 30, 2012
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Sales
$
268

 
$
14,172

 
$
11,273

 
$
(973
)
 
$
24,740

Cost of Sales
12

 
13,647

 
10,453

 
(972
)
 
23,140

Gross Profit
256

 
525

 
820

 
(1
)
 
1,600

Selling, General and Administrative
25

 
156

 
488

 
(1
)
 
668

Operating Income
231

 
369

 
332

 
—

 
932

Other (Income) Expense:


 


 


 


 


Interest expense, net
39

 
126

 
142

 
—

 
307

Other, net
1

 
—

 
(18
)
 
—

 
(17
)
Equity in net earnings of subsidiaries
(268
)
 
(55
)
 
—

 
323

 
—

Total Other (Income) Expense
(228
)
 
71

 
124

 
323

 
290

Income from Continuing Operations before Income Taxes
459

 
298

 
208

 
(323
)
 
642

Income Tax Expense
61

 
83

 
87

 
—

 
231

Income from Continuing Operations
398

 
215

 
121

 
(323
)
 
411

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(16
)
 
—

 
(16
)
Net Income
398

 
215

 
105

 
(323
)
 
395

Less: Net Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(3
)
 
—

 
(3
)
Net Income Attributable to Tyson
$
398

 
$
215

 
$
108

 
$
(323
)
 
$
398

 
 
 
 
 
 
 
 
 
 
Comprehensive Income (Loss)
404

 
223

 
110

 
(336
)
 
401

Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
—

 
—

 
(3
)
 
—

 
(3
)
Comprehensive Income (Loss) Attributable to Tyson
$
404

 
$
223

 
$
113

 
$
(336
)
 
$
404

Condensed Consolidating Balance Sheet 
Condensed Consolidating Balance Sheet as of June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
13

 
$
930

 
$
—

 
$
943

Accounts receivable, net
—

 
589

 
865

 
—

 
1,454

Inventories
1

 
1,024

 
1,876

 
—

 
2,901

Other current assets
370

 
55

 
216

 
(412
)
 
229

Total Current Assets
371

 
1,681

 
3,887

 
(412
)
 
5,527

Net Property, Plant and Equipment
31

 
877

 
3,134

 
—

 
4,042

Goodwill
—

 
881

 
1,022

 
—

 
1,903

Intangible Assets
—

 
22

 
121

 
—

 
143

Other Assets
909

 
159

 
249

 
(830
)
 
487

Investment in Subsidiaries
11,756

 
2,008

 
—

 
(13,764
)
 
—

Total Assets
$
13,067

 
$
5,628

 
$
8,413

 
$
(15,006
)
 
$
12,102

 
 
 
 
 
 
 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Current debt
$
452

 
$
132

 
$
251

 
$
(327
)
 
$
508

Accounts payable
20

 
577

 
712

 
—

 
1,309

Other current liabilities
4,467

 
186

 
916

 
(4,448
)
 
1,121

Total Current Liabilities
4,939

 
895

 
1,879

 
(4,775
)
 
2,938

Long-Term Debt
1,770

 
679

 
246

 
(796
)
 
1,899

Deferred Income Taxes
—

 
131

 
342

 
(6
)
 
467

Other Liabilities
145

 
144

 
290

 
(28
)
 
551

 
 
 
 
 
 
 
 
 
 
Total Tyson Shareholders’ Equity
6,213

 
3,779

 
5,622

 
(9,401
)
 
6,213

Noncontrolling Interest
—

 
—

 
34

 
—

 
34

Total Shareholders’ Equity
6,213

 
3,779

 
5,656

 
(9,401
)
 
6,247

Total Liabilities and Shareholders’ Equity
$
13,067

 
$
5,628

 
$
8,413

 
$
(15,006
)
 
$
12,102

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 nine months ended June 29, 2013
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Cash Provided by (Used for) Operating Activities
$
185

 
$
196

 
$
404

 
$
(13
)
 
$
772

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(3
)
 
(82
)
 
(340
)
 
—

 
(425
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(14
)
 
(87
)
 
—

 
(101
)
Acquisitions, net of cash acquired
—

 
—

 
(106
)
 
—

 
(106
)
Other, net
(3
)
 
9

 
30

 
—

 
36

Cash Provided by (Used for) Investing Activities
(6
)
 
(87
)
 
(503
)
 
—

 
(596
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
—

 
—

 
(21
)
 
—

 
(21
)
Purchases of Tyson Class A common stock
(298
)
 
—

 
—

 
—

 
(298
)
Dividends
(87
)
 
—

 
(13
)
 
13

 
(87
)
Stock options exercised
93

 
—

 
—

 
—

 
93

Other, net
13

 
—

 
—

 
—

 
13

Net change in intercompany balances
99

 
(105
)
 
6

 
—

 
—

Cash Provided by (Used for) Financing Activities
(180
)
 
(105
)
 
(28
)
 
13

 
(300
)
Effect of Exchange Rate Changes on Cash
—

 
—

 
(4
)
 
—

 
(4
)
Increase (Decrease) in Cash and Cash Equivalents
(1
)
 
4

 
(131
)
 
—

 
(128
)
Cash and Cash Equivalents at Beginning of Year
1

 
9

 
1,061

 
—

 
1,071

Cash and Cash Equivalents at End of Period
$
—

 
$
13

 
$
930

 
$
—

 
$
943



 
Condensed Consolidating Statement of Cash Flows for the nine months ended June 30, 2012
 
in millions

 
TFI
Parent
 
TFM
Parent
 
Non-
Guarantors
 
Eliminations
 
Total
Cash Provided by (Used for) Operating Activities
$
280

 
$
237

 
$
212

 
$
(10
)
 
$
719

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(1
)
 
(78
)
 
(451
)
 
—

 
(530
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(7
)
 
(2
)
 
—

 
(9
)
Acquisitions, net of cash acquired
—

 
—

 
—

 
—

 
—

Other, net
2

 
5

 
12

 
—

 
19

Cash Provided by (Used for) Investing Activities
1

 
(80
)
 
(441
)
 
—

 
(520
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
131

 
—

 
32

 
—

 
163

Purchases of Tyson Class A common stock
(209
)
 
—

 
—

 
—

 
(209
)
Dividends
(44
)
 
—

 
(10
)
 
10

 
(44
)
Stock options exercised
32

 
—

 
—

 
—

 
32

Other, net
(5
)
 
—

 
(21
)
 
—

 
(26
)
Net change in intercompany balances
(186
)
 
(158
)
 
344

 
—

 
—

Cash Provided by (Used for) Financing Activities
(281
)
 
(158
)
 
345

 
10

 
(84
)
Effect of Exchange Rate Changes on Cash
—

 
—

 
(3
)
 
—

 
(3
)
Increase (Decrease) in Cash and Cash Equivalents
—

 
(1
)
 
113

 
—

 
112

Cash and Cash Equivalents at Beginning of Year
1

 
1

 
714

 
—

 
716

Cash and Cash Equivalents at End of Period
$
1

 
$
—

 
$
827

 
$
—

 
$
828

Accounting Policies (Details) (Variable Interest Entity, Primary Beneficiary [Member], USD $)
In Millions, unless otherwise specified
9 Months Ended
Jun. 29, 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
$ 168 
$ 177 
Variable interest entity net property, plant and equipment
144 
146 
Variable interest entity total liabilities
111 
124 
Variable interest entity long-term debt
$ 100 
$ 100 
Accounting Policies Share Repurchases (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Accounting Policies [Line Items]
 
 
 
 
Payment for common shares repurchased
 
 
$ 298 
$ 209 
Class A [Member]
 
 
 
 
Accounting Policies [Line Items]
 
 
 
 
Common shares repurchased
4.4 
4.3 
13.5 
10.9 
Payment for common shares repurchased
110 
81 
298 
209 
Share Repurchase Program [Member] |
Class A [Member]
 
 
 
 
Accounting Policies [Line Items]
 
 
 
 
Common shares repurchased
4.0 
3.9 
11.2 
9.3 
Payment for common shares repurchased
100 
75 
250 
180 
Remaining shares available to repurchase
24 
 
24 
 
Open market repurchases to fund certain obligations under equity compensation plans [Member] |
Class A [Member]
 
 
 
 
Accounting Policies [Line Items]
 
 
 
 
Common shares repurchased
0.4 
0.4 
2.3 
1.6 
Payment for common shares repurchased
$ 10 
$ 6 
$ 48 
$ 29 
Acquisitions (Details) (Series of Individually Immaterial Business Acquisitions [Member], USD $)
In Millions, unless otherwise specified
9 Months Ended
Jun. 29, 2013
business
Series of Individually Immaterial Business Acquisitions [Member]
 
Business Acquisition [Line Items]
 
Number of Businesses Acquired
2 
Purchase price
$ 106 
Purchase price of property, plant and equipment
50 
Purchase price of intangible assets
41 
Purchase price of goodwill
$ 12 
Discontinued Operation (Summary of Discontinued Operation's Results) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
Loss from Discontinued Operation
$ (4)
$ (6)
$ (70)
$ (16)
Weifang Operation [Member]
 
 
 
 
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
Sales
36 
47 
108 
165 
Pretax loss
(2)
(6)
(68)
(16)
Income tax expense
2 
0 
2 
0 
Loss from Discontinued Operation
$ (4)
$ (6)
$ (70)
$ (16)
Discontinued Operation (Narrative) (Details) (Weifang Operation [Member], USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 30, 2013
Jun. 29, 2013
Other Current Assets [Member]
Jun. 29, 2013
Other Liabilities [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
Asset Impairment Charges
$ 56 
 
 
Assets Held-for-sale
 
30 
 
Liabilities of Assets Held-for-sale
 
 
$ 29 
Inventories (Schedule Of Inventory) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Inventory Disclosure [Abstract]
 
 
Processed Products - Weighted-average method – chicken and prepared foods
$ 864 
$ 754 
Processed Products - First-in, first-out method – beef and pork
628 
611 
Livestock – first-in, first-out method
1,003 
952 
Supplies and other – weighted-average method
406 
492 
Total inventories
$ 2,901 
$ 2,809 
Property, Plant And Equipment (Details) (USD $)
In Millions, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
$ 9,123 
$ 8,883 
Less accumulated depreciation
5,081 
4,861 
Net property, plant and equipment
4,042 
4,022 
Land [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
100 
101 
Buildings And Leasehold Improvements [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
2,903 
2,868 
Machinery And Equipment [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
5,412 
5,208 
Land Improvements And Other [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
417 
408 
Buildings And Equipment Under Construction [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
$ 291 
$ 298 
Other Current Liabilities (Schedule of Other Current Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Other Liabilities, Current [Abstract]
 
 
Accrued salaries, wages and benefits
$ 381 
$ 382 
Self-insurance reserves
272 
274 
Other
468 
287 
Total other current liabilities
$ 1,121 
$ 943 
Debt (Major Components Of Debt) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Sep. 30, 2008
Debt Instrument [Line Items]
 
 
 
Revolving credit facility
$ 0 
$ 0 
 
Discount on senior notes
(12)
(28)
 
Other
85 
126 
 
Total debt
2,407 
2,432 
 
Less current debt
508 
515 
 
Total long-term debt
1,899 
1,917 
 
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 (2013 Notes) [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Senior Notes
458 
458 
 
Stated interest rate
3.25% 
 
3.25% 
6.60% Senior Notes Due April 2016 (2016 Notes) [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Senior Notes
638 
638 
 
Stated interest rate
6.60% 
 
 
7.00% Notes Due May 2018 [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Senior Notes
120 
120 
 
Stated interest rate
7.00% 
 
 
4.50% Senior Notes Due June 2022 (2022 Notes) [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Senior Notes
1,000 
1,000 
 
Stated interest rate
4.50% 
 
 
7.00% Notes Due January 2028 [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Senior Notes
18 
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 
$ 100 
 
Interest rate at period end
0.06% 
 
 
Debt (Narrative) (Details) (USD $)
12 Months Ended 1 Months Ended 3 Months Ended 9 Months Ended 1 Months Ended
Jun. 29, 2013
Jun. 29, 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]
Jun. 29, 2013
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]
Common Class A [Member]
Jun. 29, 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]
Jun. 29, 2013
GO Zone Tax-Exempt Bonds Due October 2033 [Member]
Jun. 29, 2013
Standby Letters of Credit [Member]
Jun. 29, 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
944,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Letters of credit issued amount
 
 
 
 
 
 
 
 
 
 
 
 
 
56,000,000 
146,000,000 
Debt instrument, face amount
 
 
458,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate
 
3.25% 
3.25% 
 
 
 
 
6.60% 
 
 
 
 
 
 
 
Conversion rate
 
 
 
 
 
59.5866 
 
 
 
 
 
 
 
 
 
Principal amounts for conversion
 
1,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conversion price, per share
 
 
 
 
 
$ 16.78 
$ 16.78 
 
 
 
 
 
 
 
 
Initial Dividend Threshold
 
 
 
 
$ 0.04 
 
 
 
 
 
 
 
 
 
 
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
 
 
 
 
 
 
16.78 
 
 
 
 
 
 
 
 
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 
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 
 
 
 
 
 
 
 
 
Share Price
$ 25.68 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Stock Issuance Required if Warrants are Exercised at Price Equal to Period End Closing Share Price
 
 
 
 
 
3,700,000 
3,700,000 
 
 
 
 
 
 
 
 
Interest rate at period end
 
 
 
 
 
 
 
 
6.85% 
6.60% 
 
 
0.06% 
 
 
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 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Sep. 29, 2012
Income Tax Disclosure [Abstract]
 
 
 
 
 
Effective tax rate
35.40% 
40.20% 
32.60% 
35.90% 
 
Unrecognized tax benefits
$ 171 
 
$ 171 
 
$ 168 
Unrecognized tax benefits that would impact effective tax rate
151 
 
151 
 
154 
Unrecognized tax benefits, income tax penalties and interest accrued
63 
 
63 
 
64 
Unrecognized tax benefits, reductions that could result from tax audit resolutions
$ 15 
 
$ 15 
 
 
Other Income And Charges (Details) (Other Income/Expense [Member], USD $)
In Millions, unless otherwise specified
9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Other Income/Expense [Member]
 
 
Components of Other Income and Expenses [Line Items]
 
 
Recognized currency translation adjustment gain
$ 19 
 
Equity Earnings In Joint Ventures
 
11 
Foreign currency exchange gains
 
$ 4 
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 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
 
Income from continuing operations
$ 249 
$ 79 
$ 589 
$ 411 
Less: Net income (loss) from continuing operations attributable to noncontrolling interest
(4)
(3)
2 
(3)
Net income (loss) from continuing operations attributable to Tyson
253 
82 
587 
414 
Undistributed earnings
236 
67 
497 
370 
Stock options and restricted stock - Dilutive
5 
5 
5 
5 
Convertible 2013 Notes and Warrants - Dilutive
11 
3 
7 
4 
Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions
369 
369 
366 
373 
Net Income Per Share from Continuing Operations Attributable to Tyson - Diluted
$ 0.69 
$ 0.22 
$ 1.61 
$ 1.11 
Net Income Per Share Attributable to Tyson - Diluted
$ 0.68 
$ 0.21 
$ 1.42 
$ 1.07 
Class A [Member]
 
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
 
Less Dividends Declared:
14 
12 
74 
36 
Undistributed earnings
193 
56 
406 
305 
Weighted average number of shares outstanding - Basic
283 
291 
284 
294 
Net Income Per Share from Continuing Operations Attributable to Tyson - Basic
$ 0.73 
$ 0.23 
$ 1.69 
$ 1.16 
Net Income Per Share Attributable to Tyson - Basic
$ 0.72 
$ 0.21 
$ 1.49 
$ 1.11 
Class B [Member]
 
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
 
Less Dividends Declared:
3 
3 
16 
8 
Undistributed earnings
$ 43 
$ 11 
$ 91 
$ 65 
Weighted average number of shares outstanding - Basic
70 
70 
70 
70 
Net Income Per Share from Continuing Operations Attributable to Tyson - Basic
$ 0.66 
$ 0.20 
$ 1.52 
$ 1.04 
Net Income Per Share Attributable to Tyson - Basic
$ 0.64 
$ 0.19 
$ 1.34 
$ 1.00 
Earnings Per Share (Narrative) (Details)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 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% 
 
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
0 
4 
4 
4 
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 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in OCI on Derivatives
$ (2)
$ 8 
$ (30)
$ 7 
Gain/(Loss) Reclassified from OCI to Earnings
(4)
0 
(9)
(11)
Commodity Contracts [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in OCI on Derivatives
(5)
7 
(28)
13 
Commodity Contracts [Member] |
Cost of Sales [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Reclassified from OCI to Earnings
(2)
1 
(5)
(15)
Foreign Exchange Contracts [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in OCI on Derivatives
3 
1 
(2)
(6)
Foreign Exchange Contracts [Member] |
Other Income/Expense [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Reclassified from OCI to Earnings
$ (2)
$ (1)
$ (4)
$ 4 
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 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Forward Contracts [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) on forwards
$ 11 
$ 32 
$ 26 
$ 32 
Purchase Contracts [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) on forwards
$ (11)
$ (32)
$ (26)
$ (32)
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 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in OCI on Derivatives
$ 0 
$ 1 
$ 0 
$ (1)
Other Income/Expense [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Reclassified from OCI to Earnings
$ 0 
$ 0 
$ (4)
$ 0 
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 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in Earnings
$ (17)
$ (19)
$ (34)
$ 30 
Commodity Contracts [Member] |
Sales [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in Earnings
(7)
3 
(19)
(6)
Commodity Contracts [Member] |
Cost of Sales [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in Earnings
(8)
(22)
(15)
36 
Foreign Exchange Contracts [Member] |
Other Income/Expense [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain/(Loss) Recognized in Earnings
$ (2)
$ 0 
$ 0 
$ 0 
Derivative Financial Instruments (Fair Value Of All Derivative Instruments) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Derivative [Line Items]
 
 
Derivative Assets
$ 10 
$ 54 
Derivative Liabilities
76 
105 
Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Liabilities
9 
7 
Designated as Hedging Instrument [Member] |
Commodity Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
5 
32 
Derivative Liabilities
9 
6 
Designated as Hedging Instrument [Member] |
Foreign Exchange Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Liabilities
0 
1 
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
5 
22 
Derivative Liabilities
67 
98 
Not Designated as Hedging Instrument [Member] |
Commodity Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
4 
21 
Derivative Liabilities
64 
96 
Not Designated as Hedging Instrument [Member] |
Foreign Exchange Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
1 
1 
Derivative Liabilities
3 
2 
Not Designated as Hedging Instrument [Member] |
Interest Rate Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Liabilities
$ 0 
$ 0 
Derivative Financial Instruments (Narrative) (Details) (USD $)
9 Months Ended 9 Months Ended
Jun. 29, 2013
Designated as Hedging Instrument [Member]
Jun. 29, 2013
Not Designated as Hedging Instrument [Member]
Jun. 29, 2013
Net Investment Hedging [Member]
Sep. 29, 2012
Net Investment Hedging [Member]
Jun. 29, 2013
Grain [Member]
Jun. 29, 2013
Foreign Exchange Contracts [Member]
Derivative [Line Items]
 
 
 
 
 
 
Maximum Length of Time Hedged in Cash Flow Hedge
18 months 
18 months 
 
 
 
 
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months
 
 
 
 
$ (5,000,000)
$ (1,000,000)
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
Jun. 29, 2013
Sep. 29, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Derivative assets and liabilities posted cash collateral
$ 71 
$ 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
81 
3 
Available for Sale Securities, Noncurrent
97 
117 
Deferred Compensation Assets
206 
180 
Total Assets
393 
313 
Foreign Exchange Forward Contracts, Liabilities
3 
3 
Total Liabilities
4 
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 
0 
Available-for-Sale Securities, Current
0 
0 
Available for Sale Securities, Noncurrent
6 
6 
Deferred Compensation Assets
22 
31 
Total Assets
28 
37 
Foreign Exchange Forward Contracts, Liabilities
0 
0 
Total Liabilities
0 
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 
1 
Available-for-Sale Securities, Current
81 
3 
Available for Sale Securities, Noncurrent
26 
25 
Deferred Compensation Assets
184 
149 
Total Assets
301 
231 
Foreign Exchange Forward Contracts, Liabilities
3 
3 
Total Liabilities
76 
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 
0 
Available-for-Sale Securities, Current
0 
0 
Available for Sale Securities, Noncurrent
65 
86 
Deferred Compensation Assets
0 
0 
Total Assets
65 
86 
Foreign Exchange Forward Contracts, Liabilities
0 
0 
Total Liabilities
0 
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 
0 
Available for Sale Securities, Noncurrent
0 
0 
Deferred Compensation Assets
0 
0 
Total Assets
(1)
(41)
Foreign Exchange Forward Contracts, Liabilities
0 
0 
Total Liabilities
(72)
(100)
Commodity [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Commodity Derivatives
8 
13 
Derivative Financial Instruments, Liabilities
1 
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 
0 
Derivative Financial Instruments, Liabilities
0 
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
9 
53 
Derivative Financial Instruments, Liabilities
73 
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 
0 
Derivative Financial Instruments, Liabilities
0 
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
(1)
(40)
Derivative Financial Instruments, Liabilities
$ (72)
$ (100)
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
9 Months Ended
Jun. 29, 2013
Jun. 30, 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 
1 
Total unrealized gains (losses) included in other comprehensive income (loss)
(1)
(1)
Purchases
14 
20 
Issuances
0 
0 
Settlements
(35)
(21)
Balance at end of period
65 
82 
Total gains (losses) for the nine-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 
$ 0 
Fair Value Measurements (Schedule Of Available For Sale Securities) (Details) (USD $)
Share data in Millions, unless otherwise specified
9 Months Ended 12 Months Ended
Jun. 29, 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
26,000,000 
26,000,000 
Fair Value
27,000,000 
27,000,000 
Unrealized Gain/(Loss)
1,000,000 
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
80,000,000 
0 
Fair Value
80,000,000 
0 
Unrealized Gain/(Loss)
0 
0 
Corporate And Asset-Backed [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Amortized Cost Basis
65,000,000 
64,000,000 
Fair Value
65,000,000 
66,000,000 
Unrealized Gain/(Loss)
0 
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 
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 
9,000,000 
Fair Value
6,000,000 
7,000,000 
Unrealized Gain/(Loss)
(3,000,000)
(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
0.8 
 
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
0.4 
 
Exercise price of warrants to purchase shares of Sytroleum Corporation (USD per warrant)
$ 28.70 
 
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
Jun. 29, 2013
Sep. 29, 2012
Fair Value Disclosures [Abstract]
 
 
Total Debt, Fair Value
$ 2,535 
$ 2,596 
Total Debt, Carrying Value
$ 2,407 
$ 2,432 
Fair Value Measurements Fair Value Measurement (Narrative) (Details) (Fair Value, Measurements, Nonrecurring [Member], Weifang Operation [Member], Level 3 [Member], USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 30, 2013
Fair Value, Measurements, Nonrecurring [Member] |
Weifang Operation [Member] |
Level 3 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
Asset Impairment Charges
$ 56 
Other Comprehensive Income (Components Of Other Comprehensive Income (Loss)) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Other Comprehensive Income Loss [Line Items]
 
 
 
 
Total Other Comprehensive Income (Loss), Before Tax
$ (29)
$ (31)
$ (68)
$ 13 
Total Other Comprehensive Income (Loss), Tax
0 
(2)
9 
(7)
Total Other Comprehensive Income (Loss), Net of Taxes
(29)
(33)
(59)
6 
Derivatives accounted for as cash flow hedges [Member]
 
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
 
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax
(2)
8 
(30)
7 
Other Comprehensive Income (Loss), Before Reclassifications, Tax
1 
(3)
12 
(3)
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax
(1)
5 
(18)
4 
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
2 
(1)
5 
15 
Reclassification from Accumulated Other Comprehensive Income, Tax
(1)
0 
(2)
(6)
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
1 
(1)
3 
9 
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
2 
1 
4 
(4)
Reclassification from Accumulated Other Comprehensive Income, Tax
0 
0 
(1)
2 
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
2 
1 
3 
(2)
Investments [Member]
 
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
 
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax
1 
(2)
(2)
0 
Other Comprehensive Income (Loss), Before Reclassifications, Tax
0 
1 
1 
0 
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax
1 
(1)
(1)
0 
Investments [Member] |
Other Income/Expense [Member]
 
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
 
Reclassification from Accumulated Other Comprehensive Income, Before Tax
0 
0 
(1)
0 
Reclassification from Accumulated Other Comprehensive Income, Tax
0 
0 
0 
0 
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
0 
0 
(1)
0 
Currency translation [Member]
 
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
 
Other Comprehensive Income (Loss), Before Reclassifications, Before Tax
(33)
(38)
(29)
(8)
Other Comprehensive Income (Loss), Before Reclassifications, Tax
0 
0 
0 
0 
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax
(33)
(38)
(29)
(8)
Currency translation [Member] |
Other Income/Expense [Member]
 
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
 
Reclassification from Accumulated Other Comprehensive Income, Before Tax
0 
0 
(19)
0 
Reclassification from Accumulated Other Comprehensive Income, Tax
0 
0 
(1)
0 
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
0 
0 
(20)
0 
Postretirement benefits [Member]
 
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
 
Total Other Comprehensive Income (Loss), Before Tax
1 
1 
4 
3 
Total Other Comprehensive Income (Loss), Tax
0 
0 
0 
0 
Total Other Comprehensive Income (Loss), Net of Taxes
$ 1 
$ 1 
$ 4 
$ 3 
Segment Reporting (Segment Reporting Information, By Segment) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Segments
Jun. 30, 2012
Segment Reporting Information [Line Items]
 
 
 
 
Number of segments
 
 
4 
 
Sales
$ 8,731 
$ 8,261 
$ 25,480 
$ 24,740 
Operating Income (Loss)
419 
342 
959 
932 
Total Other (Income) Expense
34 
210 1
85 2
290 1
Income from Continuing Operations before Income Taxes
385 
132 
874 
642 
Loss on early extinguishment of debt
 
 
0 
167 
Operating Segments [Member] |
Chicken [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
3,158 
2,855 
9,136 
8,410 
Operating Income (Loss)
220 
159 
471 
346 
Operating Segments [Member] |
Beef [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
3,723 
3,487 
10,655 
10,323 
Operating Income (Loss)
114 
71 
134 
101 
Operating Segments [Member] |
Pork [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
1,332 
1,344 
4,006 
4,191 
Operating Income (Loss)
67 
69 
264 
349 
Operating Segments [Member] |
Prepared Foods [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
797 
764 
2,441 
2,432 
Operating Income (Loss)
24 
47 
85 
142 
Intersegment Elimination [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
(279)
(213)
(805)
(740)
Intersegment Elimination [Member] |
Beef [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
(59)
(49)
(156)
(162)
Intersegment Elimination [Member] |
Pork [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
(220)
(164)
(649)
(578)
Other [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Sales
0 
24 
47 
124 
Operating Income (Loss)
(6)
(4)
5 
(6)
Other Income/Expense [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Recognized currency translation adjustment gain
 
 
19 
 
Loss on early extinguishment of debt
 
$ 167 
 
$ 167 
Commitments And Contingencies Commitments (Details) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Jun. 29, 2013
Sep. 29, 2012
Jun. 29, 2013
Guarantee of Indebtedness of Others [Member]
Jun. 29, 2013
Residual Value Guarantees [Member]
Guarantor Obligations [Line Items]
 
 
 
 
Guarantor Obligations, Maximum Exposure, Period (in years)
 
 
10 years 
 
Maximum potential amount
 
 
$ 63 
$ 57 
Guarantor Obligations, Maximum Exposure, Remaining Lease Period (in years)
 
 
 
7 years 
Amount recoverable through various recourse provisions
 
 
 
51 
Potential maximum obligation under cash flow assistance programs
310 
 
 
 
Total receivables under cash flow assistance programs
50 
25 
 
 
Uncollectible receivables estimated under cash flow assistance programs
$ 16 
$ 10 
 
 
Commitments And Contingencies Contingencies (Details) (USD $)
0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 1 Months Ended
Jun. 29, 2013
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]
Jun. 29, 2013
Maxwell Case [Member]
May 31, 2013
Acosta Case [Member]
Jun. 29, 2013
Carter 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
Jun. 29, 2013
EPA Civil Penalties [Member]
Jun. 29, 2013
EPA Environmental Projects [Member]
Loss Contingencies [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of cases filed
12 
 
 
 
 
 
 
 
 
1 
 
 
 
 
 
 
Loss Contingency, Damages Awarded, Value
 
 
$ 503,011 
$ 5,784,758 
 
 
$ 5,733,943 
 
 
 
 
 
 
 
 
 
Granted application for attorneys fees and expenses
 
3,609,723 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Filed application for attorneys' fees and expenses
 
 
 
 
2,692,145 
 
 
 
 
 
 
 
 
 
 
 
Loss Contingency, Settlement Amount
 
 
 
 
 
970,000 
 
950,000 
 
 
 
 
 
 
3,950,000 
300,000 
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 
 
 
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Income and Comprehensive Income) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 29, 2013
Jun. 30, 2012
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
Sales
$ 8,731 
$ 8,261 
$ 25,480 
$ 24,740 
Cost of Sales
8,049 
7,695 
23,791 
23,140 
Gross Profit
682 
566 
1,689 
1,600 
Selling, General and Administrative
263 
224 
730 
668 
Operating Income
419 
342 
959 
932 
Other (Income) Expense:
 
 
 
 
Interest expense, net
34 
213 
104 
307 
Other, net
0 
(3)
(19)
(17)
Equity in net earnings of subsidiaries
0 
0 
0 
0 
Total Other (Income) Expense
34 
210 1
85 2
290 1
Income from Continuing Operations before Income Taxes
385 
132 
874 
642 
Income Tax Expense
136 
53 
285 
231 
Income from Continuing Operations
249 
79 
589 
411 
Loss from Discontinued Operation, Net of Tax
(4)
(6)
(70)
(16)
Net Income
245 
73 
519 
395 
Less: Net Income (Loss) Attributable to Noncontrolling Interest
(4)
(3)
2 
(3)
Net Income Attributable to Tyson
249 
76 
517 
398 
Comprehensive Income (Loss)
216 
40 
460 
401 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
(4)
(3)
2 
(3)
Comprehensive Income Attributable to Tyson
220 
43 
458 
404 
TFI Parent [Member]
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
Sales
142 
140 
318 
268 
Cost of Sales
8 
20 
35 
12 
Gross Profit
134 
120 
283 
256 
Selling, General and Administrative
19 
4 
51 
25 
Operating Income
115 
116 
232 
231 
Other (Income) Expense:
 
 
 
 
Interest expense, net
9 
50 
26 
39 
Other, net
0 
1 
4 
1 
Equity in net earnings of subsidiaries
(181)
(34)
(381)
(268)
Total Other (Income) Expense
(172)
17 
(351)
(228)
Income from Continuing Operations before Income Taxes
287 
99 
583 
459 
Income Tax Expense
38 
23 
66 
61 
Income from Continuing Operations
249 
76 
517 
398 
Loss from Discontinued Operation, Net of Tax
0 
0 
0 
0 
Net Income
249 
76 
517 
398 
Less: Net Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
Net Income Attributable to Tyson
249 
76 
517 
398 
Comprehensive Income (Loss)
216 
43 
460 
404 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
Comprehensive Income Attributable to Tyson
216 
43 
460 
404 
TFM Parent, Guarantors [Member]
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
Sales
4,908 
4,711 
14,210 
14,172 
Cost of Sales
4,679 
4,536 
13,696 
13,647 
Gross Profit
229 
175 
514 
525 
Selling, General and Administrative
54 
49 
151 
156 
Operating Income
175 
126 
363 
369 
Other (Income) Expense:
 
 
 
 
Interest expense, net
15 
70 
46 
126 
Other, net
(1)
0 
(1)
0 
Equity in net earnings of subsidiaries
(15)
0 
(29)
(55)
Total Other (Income) Expense
(1)
70 
16 
71 
Income from Continuing Operations before Income Taxes
176 
56 
347 
298 
Income Tax Expense
56 
19 
109 
83 
Income from Continuing Operations
120 
37 
238 
215 
Loss from Discontinued Operation, Net of Tax
0 
0 
0 
0 
Net Income
120 
37 
238 
215 
Less: Net Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
Net Income Attributable to Tyson
120 
37 
238 
215 
Comprehensive Income (Loss)
103 
18 
202 
223 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
Comprehensive Income Attributable to Tyson
103 
18 
202 
223 
Non-Guarantors [Member]
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
Sales
4,081 
3,764 
11,957 
11,273 
Cost of Sales
3,762 
3,493 
11,065 
10,453 
Gross Profit
319 
271 
892 
820 
Selling, General and Administrative
190 
170 
528 
488 
Operating Income
129 
101 
364 
332 
Other (Income) Expense:
 
 
 
 
Interest expense, net
10 
93 
32 
142 
Other, net
1 
(4)
(22)
(18)
Equity in net earnings of subsidiaries
0 
0 
0 
0 
Total Other (Income) Expense
11 
89 
10 
124 
Income from Continuing Operations before Income Taxes
118 
12 
354 
208 
Income Tax Expense
42 
11 
110 
87 
Income from Continuing Operations
76 
1 
244 
121 
Loss from Discontinued Operation, Net of Tax
(4)
(6)
(70)
(16)
Net Income
72 
(5)
174 
105 
Less: Net Income (Loss) Attributable to Noncontrolling Interest
(4)
(3)
2 
(3)
Net Income Attributable to Tyson
76 
(2)
172 
108 
Comprehensive Income (Loss)
49 
(29)
80 
110 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
(4)
(3)
2 
(3)
Comprehensive Income Attributable to Tyson
53 
(26)
78 
113 
Eliminations [Member]
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
Sales
(400)
(354)
(1,005)
(973)
Cost of Sales
(400)
(354)
(1,005)
(972)
Gross Profit
0 
0 
0 
(1)
Selling, General and Administrative
0 
1 
0 
(1)
Operating Income
0 
(1)
0 
0 
Other (Income) Expense:
 
 
 
 
Interest expense, net
0 
0 
0 
0 
Other, net
0 
0 
0 
0 
Equity in net earnings of subsidiaries
196 
34 
410 
323 
Total Other (Income) Expense
196 
34 
410 
323 
Income from Continuing Operations before Income Taxes
(196)
(35)
(410)
(323)
Income Tax Expense
0 
0 
0 
0 
Income from Continuing Operations
(196)
(35)
(410)
(323)
Loss from Discontinued Operation, Net of Tax
0 
0 
0 
0 
Net Income
(196)
(35)
(410)
(323)
Less: Net Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
Net Income Attributable to Tyson
(196)
(35)
(410)
(323)
Comprehensive Income (Loss)
(152)
8 
(282)
(336)
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest
0 
0 
0 
0 
Comprehensive Income Attributable to Tyson
$ (152)
$ 8 
$ (282)
$ (336)
Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 29, 2013
Sep. 29, 2012
Jun. 30, 2012
Oct. 1, 2011
Assets
 
 
 
 
Cash and cash equivalents
$ 943 
$ 1,071 
$ 828 
$ 716 
Accounts receivable, net
1,454 
1,378 
 
 
Inventories
2,901 
2,809 
 
 
Other current assets
229 
145 
 
 
Total Current Assets
5,527 
5,403 
 
 
Net Property, Plant and Equipment
4,042 
4,022 
 
 
Goodwill
1,903 
1,891 
 
 
Intangible Assets
143 
129 
 
 
Other Assets
487 
451 
 
 
Investment in Subsidiaries
0 
0 
 
 
Total Assets
12,102 
11,896 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
508 
515 
 
 
Accounts payable
1,309 
1,372 
 
 
Other current liabilities
1,121 
943 
 
 
Total Current Liabilities
2,938 
2,830 
 
 
Long-Term Debt
1,899 
1,917 
 
 
Deferred Income Taxes
467 
558 
 
 
Other Liabilities
551 
549 
 
 
Total Tyson Shareholders' Equity
6,213 
6,012 
 
 
Noncontrolling Interest
34 
30 
 
 
Total Shareholders' Equity
6,247 
6,042 
 
 
Total Liabilities and Shareholders' Equity
12,102 
11,896 
 
 
TFI Parent [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
0 
1 
1 
1 
Accounts receivable, net
0 
1 
 
 
Inventories
1 
0 
 
 
Other current assets
370 
139 
 
 
Total Current Assets
371 
141 
 
 
Net Property, Plant and Equipment
31 
31 
 
 
Goodwill
0 
0 
 
 
Intangible Assets
0 
0 
 
 
Other Assets
909 
1,257 
 
 
Investment in Subsidiaries
11,756 
11,849 
 
 
Total Assets
13,067 
13,278 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
452 
439 
 
 
Accounts payable
20 
10 
 
 
Other current liabilities
4,467 
4,887 
 
 
Total Current Liabilities
4,939 
5,336 
 
 
Long-Term Debt
1,770 
1,774 
 
 
Deferred Income Taxes
0 
0 
 
 
Other Liabilities
145 
156 
 
 
Total Tyson Shareholders' Equity
6,213 
6,012 
 
 
Noncontrolling Interest
0 
0 
 
 
Total Shareholders' Equity
6,213 
6,012 
 
 
Total Liabilities and Shareholders' Equity
13,067 
13,278 
 
 
TFM Parent, Guarantors [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
13 
9 
0 
1 
Accounts receivable, net
589 
499 
 
 
Inventories
1,024 
950 
 
 
Other current assets
55 
100 
 
 
Total Current Assets
1,681 
1,558 
 
 
Net Property, Plant and Equipment
877 
873 
 
 
Goodwill
881 
881 
 
 
Intangible Assets
22 
26 
 
 
Other Assets
159 
151 
 
 
Investment in Subsidiaries
2,008 
2,005 
 
 
Total Assets
5,628 
5,494 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
132 
0 
 
 
Accounts payable
577 
558 
 
 
Other current liabilities
186 
144 
 
 
Total Current Liabilities
895 
702 
 
 
Long-Term Debt
679 
809 
 
 
Deferred Income Taxes
131 
135 
 
 
Other Liabilities
144 
146 
 
 
Total Tyson Shareholders' Equity
3,779 
3,702 
 
 
Noncontrolling Interest
0 
0 
 
 
Total Shareholders' Equity
3,779 
3,702 
 
 
Total Liabilities and Shareholders' Equity
5,628 
5,494 
 
 
Non-Guarantors [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
930 
1,061 
827 
714 
Accounts receivable, net
865 
878 
 
 
Inventories
1,876 
1,859 
 
 
Other current assets
216 
90 
 
 
Total Current Assets
3,887 
3,888 
 
 
Net Property, Plant and Equipment
3,134 
3,118 
 
 
Goodwill
1,022 
1,010 
 
 
Intangible Assets
121 
103 
 
 
Other Assets
249 
251 
 
 
Investment in Subsidiaries
0 
0 
 
 
Total Assets
8,413 
8,370 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
251 
167 
 
 
Accounts payable
712 
804 
 
 
Other current liabilities
916 
766 
 
 
Total Current Liabilities
1,879 
1,737 
 
 
Long-Term Debt
246 
486 
 
 
Deferred Income Taxes
342 
432 
 
 
Other Liabilities
290 
294 
 
 
Total Tyson Shareholders' Equity
5,622 
5,391 
 
 
Noncontrolling Interest
34 
30 
 
 
Total Shareholders' Equity
5,656 
5,421 
 
 
Total Liabilities and Shareholders' Equity
8,413 
8,370 
 
 
Eliminations [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
0 
0 
0 
0 
Accounts receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
(412)
(184)
 
 
Total Current Assets
(412)
(184)
 
 
Net Property, Plant and Equipment
0 
0 
 
 
Goodwill
0 
0 
 
 
Intangible Assets
0 
0 
 
 
Other Assets
(830)
(1,208)
 
 
Investment in Subsidiaries
(13,764)
(13,854)
 
 
Total Assets
(15,006)
(15,246)
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
(327)
(91)
 
 
Accounts payable
0 
0 
 
 
Other current liabilities
(4,448)
(4,854)
 
 
Total Current Liabilities
(4,775)
(4,945)
 
 
Long-Term Debt
(796)
(1,152)
 
 
Deferred Income Taxes
(6)
(9)
 
 
Other Liabilities
(28)
(47)
 
 
Total Tyson Shareholders' Equity
(9,401)
(9,093)
 
 
Noncontrolling Interest
0 
0 
 
 
Total Shareholders' Equity
(9,401)
(9,093)
 
 
Total Liabilities and Shareholders' Equity
$ (15,006)
$ (15,246)
 
 
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Condensed Financial Statements, Captions [Line Items]
 
 
Cash Provided by (Used for) Operating Activities
$ 772 
$ 719 
Cash Flows From Investing Activities:
 
 
Additions to property, plant and equipment
(425)
(530)
(Purchases of)/ Proceeds from marketable securities, net
(101)
(9)
Acquisitions, net of cash acquired
(106)
0 
Other, net
36 
19 
Cash Used for Investing Activities
(596)
(520)
Cash Flows From Financing Activities:
 
 
Net change in debt
(21)
163 
Purchases of Tyson Class A common stock
(298)
(209)
Dividends
(87)
(44)
Stock options exercised
93 
32 
Other, net
13 
(26)
Net change in intercompany balances
0 
0 
Cash Used for Financing Activities
(300)
(84)
Effect of Exchange Rate Changes on Cash
(4)
(3)
Increase (Decrease) in Cash and Cash Equivalents
(128)
112 
Cash and Cash Equivalents at Beginning of Year
1,071 
716 
Cash and Cash Equivalents at End of Period
943 
828 
TFI Parent [Member]
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
Cash Provided by (Used for) Operating Activities
185 
280 
Cash Flows From Investing Activities:
 
 
Additions to property, plant and equipment
(3)
(1)
(Purchases of)/ Proceeds from marketable securities, net
0 
0 
Acquisitions, net of cash acquired
0 
0 
Other, net
(3)
2 
Cash Used for Investing Activities
(6)
1 
Cash Flows From Financing Activities:
 
 
Net change in debt
0 
131 
Purchases of Tyson Class A common stock
(298)
(209)
Dividends
(87)
(44)
Stock options exercised
93 
32 
Other, net
13 
(5)
Net change in intercompany balances
99 
(186)
Cash Used for Financing Activities
(180)
(281)
Effect of Exchange Rate Changes on Cash
0 
0 
Increase (Decrease) in Cash and Cash Equivalents
(1)
0 
Cash and Cash Equivalents at Beginning of Year
1 
1 
Cash and Cash Equivalents at End of Period
0 
1 
TFM Parent, Guarantors [Member]
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
Cash Provided by (Used for) Operating Activities
196 
237 
Cash Flows From Investing Activities:
 
 
Additions to property, plant and equipment
(82)
(78)
(Purchases of)/ Proceeds from marketable securities, net
(14)
(7)
Acquisitions, net of cash acquired
0 
0 
Other, net
9 
5 
Cash Used for Investing Activities
(87)
(80)
Cash Flows From Financing Activities:
 
 
Net change in debt
0 
0 
Purchases of Tyson Class A common stock
0 
0 
Dividends
0 
0 
Stock options exercised
0 
0 
Other, net
0 
0 
Net change in intercompany balances
(105)
(158)
Cash Used for Financing Activities
(105)
(158)
Effect of Exchange Rate Changes on Cash
0 
0 
Increase (Decrease) in Cash and Cash Equivalents
4 
(1)
Cash and Cash Equivalents at Beginning of Year
9 
1 
Cash and Cash Equivalents at End of Period
13 
0 
Non-Guarantors [Member]
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
Cash Provided by (Used for) Operating Activities
404 
212 
Cash Flows From Investing Activities:
 
 
Additions to property, plant and equipment
(340)
(451)
(Purchases of)/ Proceeds from marketable securities, net
(87)
(2)
Acquisitions, net of cash acquired
(106)
0 
Other, net
30 
12 
Cash Used for Investing Activities
(503)
(441)
Cash Flows From Financing Activities:
 
 
Net change in debt
(21)
32 
Purchases of Tyson Class A common stock
0 
0 
Dividends
(13)
(10)
Stock options exercised
0 
0 
Other, net
0 
(21)
Net change in intercompany balances
6 
344 
Cash Used for Financing Activities
(28)
345 
Effect of Exchange Rate Changes on Cash
(4)
(3)
Increase (Decrease) in Cash and Cash Equivalents
(131)
113 
Cash and Cash Equivalents at Beginning of Year
1,061 
714 
Cash and Cash Equivalents at End of Period
930 
827 
Eliminations [Member]
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
Cash Provided by (Used for) Operating Activities
(13)
(10)
Cash Flows From Investing Activities:
 
 
Additions to property, plant and equipment
0 
0 
(Purchases of)/ Proceeds from marketable securities, net
0 
0 
Acquisitions, net of cash acquired
0 
0 
Other, net
0 
0 
Cash Used for Investing Activities
0 
0 
Cash Flows From Financing Activities:
 
 
Net change in debt
0 
0 
Purchases of Tyson Class A common stock
0 
0 
Dividends
13 
10 
Stock options exercised
0 
0 
Other, net
0 
0 
Net change in intercompany balances
0 
0 
Cash Used for Financing Activities
13 
10 
Effect of Exchange Rate Changes on Cash
0 
0 
Increase (Decrease) in Cash and Cash Equivalents
0 
0 
Cash and Cash Equivalents at Beginning of Year
0 
0 
Cash and Cash Equivalents at End of Period
$ 0 
$ 0 
Condensed Consolidating Financial Statements Condensed Consolidating Financial Statements (Narrative) (Details) (USD $)
In Billions, unless otherwise specified
Jun. 29, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
 
Amount available under credit facility
$ 1.0